Reply With QuoteThis week's trend...
Had a look at robinsons jewellers in Leicester today and they had a lot of sh Rolex in the window a couple of pre worn ceramic subs subs £11995 still seems on the high side unless they will sit there forever ?
This week's trend...
Paging Mr Sandwich, paging Mr Sandwich …. There’s a thread for you to get your teeth stuck into fella 😂
Calling the TZ (and TRF duplicate) Rolex market guru/czar with his finger on the pulse……your thread has arrived chum…..
Originally Posted by ASW1
This week's trend...
Alun, the sky has fallen in. Get in your bunker pronto chap 🤣
Federico (of Talking Watches) is predicting a reversion to the mean/pre-pandemic prices. My sense is watches that people have been buying as 'makes dos' such as Milgauss and OPs will soften proportionately more than Subs and Daytonas.
I certainly wouldn't be buying the brands/models which have been in a 'bubble' for the last two years right now.
Not sure if there will be "bargains" from distressed sellers coming onto the market. Peeps who bought a 16570 for £8k may not be keen to crystallise losses and sell for under £6k unless their hand is forced.
Last edited by J J Carter; 16th July 2022 at 19:21.
Indeed
The smart money has cashed in the chips while the going was good!
😉
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Silly me, there was me thinking that people bought their watches because they enjoyed owning and wearing them.
I haven’t sold a single watch for a year so I’m clearly not smart. You sold your fictional collection then have you sandwich?
Bravo 👏
Who mentioned collection?
I am just enjoying my collection; if less people are willing to buy great for me. As I will still be buying what I like.
Last edited by shoppy; 16th July 2022 at 20:49.
So that’s you taken out of the equation (yes, being overly generous here…..), what about everyone else?
[QUOTE=boring_sandwich
Who mentioned collection?[/QUOTE]
You fella, yes you fella!
‘I have had 3 watches from the AD so far this year, 2 last year so I can assure you I am not waiting on prices to drop so I can pick one up!’
Do try and keep up with what you’ve previously posted!
Work it out Sherlock!
Quite unfortunate that your forum initials are BS
I would like it to be true as my phone might actually ring.
Softening or not the prices have been on Viagra for a few years now.
Still collecting.
Strictly RRP now though for the forseeable
Darn it I keep screwing up by buying the watches I want to own and not caring less about what someone will pay for it down the line. Still worked out much cheaper than owning a boat and I've gotten to own some cool watches so every cloud and all that.
This year I’ve had some big projects come my way which I couldn’t have funded without selling my long term keepers. Some I sold before Christmas which then shot up even more in price but considering what I’d paid quite a few years ago, I was happy with what I realised price wise. I was sad to see all of my Rolex go but I said to myself it had helped fund new projects in bricks and mortar which quite frankly are more important to me and my family to secure an income especially with the current cost of living etc.
so for the first time in 10 years I was watchless. Until last week when I picked up a black bay pro. I’m
enjoying having one watch and it’s refreshing it’s not a £8k plus Rolex..
Funny old hobby this. I could of swore I’d never have sold my keepers but they are now all gone. And I don’t feel as bad as I thought.
Firstly lets remember Rolex are a good watch! We brought them when they were below RRP, when they were RRP, and when they went over RRP so Rolex The Watch is good. But what about the market and prices?? Back in Jan/Feb the trade to trade deals got tighter and harder, the prices got soft and the realisation came when many saw this happening and tried to squeeze the juice out of it, as we went into Mar/Apr the realisation started to be more believable and the watch forums and enthusiasts started to see it and make their own interpretation of what would happen, some hoping it would rise, some hoping it would fall and many not caring but paying attention.
So where are we today? Well most established dealers I speak to and know extremely well having worked with them for years are all on the same song sheet, the stock they have wont kill them if it drops they might just lose a few quid on the last few through the door but all have one theme running through them and that is that they spend most of their time and energy telling customers that their watch isn’t worth what they think it is! Also many coming forward and saying ‘I brought this from (Insert Grey Dealer) and want to sell it now, except it appears (Insert Grey Dealer) already has one on stock or is only doing consignment sales (more on this in a mo) so they become a little edgy as the watch they brought isn’t easy to move and each person has a different need, some will twist, stick or hold but most lose that ‘nice’ feeling you get when its all on the up.
Consigment sales are the lazy/safety for any dealer, invest none of your money, advertise too strong and who cares, the seller wont get the desired price and will more likely buckle and take a pathetic trade offer or try their luck on eBay or marketplace where the sea of crypto dreamers, furlough paid, and generally very bored working from home had been reckless for a year or so and built a set from The Truman Show.
So if you were buying and selling Rolex through the gain phase then your days are over, if you had invested in Rolex for gain then you have seen the peak of your investment, more stock appearing weekly as the AD network reduces and distribution and management of accounts becomes a lot easier with a proposed 50 AD’s in UK by 2025. Couple this with a captive audience for Rolex thats lost its pay check and a wave of customers who have physiologically been priced out and the remainder have become so frustrated with it all that they turn away to avoid the stress and thats where we are. Those who have been fortunate enough to pick up at RRP will be ‘up’ but only for the really desirables as they ‘other rans’ start to return to where they belong at RRP maybve even below it we will see!!
If you have one then enjoy it, if you have several then enjoy them, as whilst the financial investment and gain is over it is still a great watch to own if it puts a smile on your face. Without it we wouldn’t have any watch discussion on this forum.
RIAC
LOL, but true ;-)To be fair, Ryan, you only want to own them for a week
I recently asked for a sale price on one of my Rolex pieces.
And much to my surprise, was told that they were not looking at buying any modern Rolex watches, as the prices had fallen by as much as 20%.
Nice summary Kerry grounded and to the point, thanks for that.
Steve
One of my mates just offered his few month old pristine Explorer II to Watch finder, they are not interested and didn't make an offer!
My 14060 and 16600 will be staying, they were grail watches for me when I purchased them so cashing in on their gains feels like I'm selling my dreams for profit..
Brought the point home nicely
That is if he really likes them:-)To be fair, Ryan, you only want to own them for a week
I think the tides turning on any luxury item. Something similar is happening in the classic and sportscar market with prices starting to stall too and cars not selling at reserve. People have less money for toys and as such they’re having a clear out.
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Thanks that has actually answered my original question
Hear hear. If I want to trade I will go on the stock market! Also with absurdly inflated prices you get hideous Rolex rippers. Can’t wait for everything to cool off so I can buy a Rolex explorer and actually wear it!
I learned a stack from your post, thank you.
I bought a Rolex Submariner in January for £1K more than I could buy the same model for today.
Good job I've always wanted one and love it to bits or that would really sting =)
The US drives the Rolex market and world Rolex prices are set in dollars given the massive size and scale of the US market.
The fact that the £ has depreciated against the $ by 15% over the last six months has helped Rolex prices in the U.K. from tanking further.
Effectively a 30% drop in $ priced has translated to only a 15% drop in £ price
Hasn't Rolex decently brought a new manufacturing facility on-stream and ADs are now getting appreciably more watches coming in?
I expect to see gazundering return to Sales Corner
Last edited by J J Carter; 17th July 2022 at 12:28.
Beat me to it.
Very valid and often overlooked.
Kerry, who is your direct source at Rolex Uk (or Geneva) head office for the “proposed 50 Uk AD’s by 2025” please?
Reason I ask is that you’ve said that here before, and also in your comments to Paul Thorpe's recent YouTube on AD’s closing down. In that “hot news” post he lists 4 AD’s that most watch folks knew months and months ago were to no longer be Rolex franchise dealers after 2022. In that same video you also posted the same comment that there were “200 Rolex Uk AD’s now” and repeated the reduction to “50” AD’s again. Thing is that the current Uk AD network is actually around 110-115 right now, not 200. Of that total number the Watches of Switzerland Group is around 50% of the Uk total and with the rest being Independent franchise partners.
Thanks.
I believe there were 220 back in 2010 and in 2015 at a private Watch gathering we were told the new CEO Rolex UK aimed to reduce the network to provide easier invoicing and distribution and prevent an overlap making the brand more exclusive rather than ‘Oh look another Rolex shop’ WOS have multiple stores in some locations and also some geographically close so a cull of them wouldn’t impact. Its worth considering that the numbers of AD’s isn’t an issue its the flow of stock through them. If you are looking for any form of verified and accurate information then we both know Rolex wont release that but lets Relax and sit back and see how this unfolds or maybe ask one of your contacts.
Or look at the reduction since 2010 and project!!
https://www.rolexforums.com/showthread.php?t=520050
This is an enduring theme, be interested to know any thoughts on Wempe leaving Rolex AD Network! Look at LV who turn 390m a year and Rolex & Tudor do £480m. LV have a handful of stores and only in London, Birmingham, Leeds, Manchester and Edinburgh, massive catalogue and minimal footprint. Rolex could have 10 AD’s in Uk and still do the same sales so why wouldn’t you and own the whole process!
Last edited by 100thmonkey; 17th July 2022 at 15:52.
RIAC
My understanding is Cartier will also embark on a cull of ADs and embark upon a price hoik campagn to place the brand's watches at a level above Rolex
For me there was a correction but from what I can see from the watch collecting sold prices is that it’s pretty much levelled off now
Stuff selling for pretty decent premiums
I’ve been looking for a Pepsi and they are still above15K at the moment and seem stable now at that.
I think we are at the price level we were at pre Christmas
January and February rises were ridiculous
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Pepsi at 15k. Can you link, please. I've not seen one anywhere near that since about 2018.
Finally some context...there is not a negative period really, just a correction. Still most stuff is at or in a lost of cases above where it was last Xmas.
Yeh you are correct
probably undercooked that by a couple of thousand
one on watch collecting today currently at 15.1K so will see where that goes
The prices needed to soften because Jan/Feb 22 and Nov/Dec 21 the spikes were so sharp they were unsustainable.
The serious corrections Rolex-wise have been the Daytona 116506 and the green 116508 along with the OP 124300 and their rise/fall have been totally predictable.
116506 - the discontinued in march hype - ROLEXERO instagram was really pushing it that it was going over 200k "its going to be discontinued!" and tracking ch24 so the investors started swarming.
Not discontinued, now dropped 50k+
116508 - John Meyer declared it a sleeper on a Hodinkee talking watches, feeding frenzy, well over 100k, not discontinued, boom.
124300 - went artificially high (10xRRP) on the back of the Tiffany Nautilus and ended up at 50k. Now back down to the mid 20s.
The market went up, it came down, it'll level off at some point (and lets face it there's a lot of upheaval in the world at the moment) .. ultimately people who buy to wear aren't going to have quite as much sweat on their upper lip as those who bought to stick in the safe as "investment".
If the market cools as an investment vehicle perhaps we can get back to more watch chat and less bank chat.
+1
Good input from all the pros here-you, Kerry and the currency angle.
Would be great to be able to buy some watches again. Couldn't care less what's being discontinued or due to go the moon, but I want the bloody LV and a SkyDweller!!
A negative period and correction is the same thing.
i -like many others on here- have many watches for which prices went hyperbolic: Rolex, PP etc etc. Most i owned for 8-10 years plus and seen values up by a factor of 4x or 5x.
I haven't sold any.
Yet my interest is for prices to go down rather than up.
So that messing about with nice watches becomes a hobby again... and so that you can wear them in the street without feeling like you could get murdered any minute.
This is what I am seeing.
WF seem to be making offers (in my experience over the last 3 months) if your perceived value is within reason, and it’s an easy/quick sale for them.
If you’re asking for £12k for a Milgauss or £9k for a Datejust with a domed bezel they’re not interested.
Offer them a GMT or an 114060 and they’ll bite your hand off, at fair trade money.
It’s not in this case, prices were daft in Dec 2021, then went ballistic, up to mental and have settled back down to daft.
This “correction” has just taken us to where we were a few months ago, not below it…..
Yeah id agree with that. The trade is still buying, but we're seeing an awful lot of people who want their January money back.
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