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Thread: Secondhand Rolex LV price madness

  1. #1
    Craftsman smalleyboy1's Avatar
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    Secondhand Rolex LV price madness

    Just had a quick look on Watchfinder and they have a Kermit priced at £19,950 and a Hulk at £15,650. These are the highest priced examples and there are lower priced versions listed.

    I know there has been plenty of talk and countless posts on used Rolex prices but the LV prices are just going crazy.

  2. #2
    Master murkeywaters's Avatar
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    They are crazy prices, We can’t always blame the dealers for money grabbing as essentially it’s us the buying public who inflate the prices by buying at what they ask..


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  3. #3
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    The most expensive resellers should not be used as evidence to set the pricing paradigm for the wider market, but at times it variously suits both trade and private sellers to be measured thus.

    Rule of thumb, though there are individual model and regional variations :

    Average price of a given Rolex on Watchfinder and Chrono 24 = Q

    Actual price at which dealers will more commonly sell the same watch reasonably quickly without any artificially-inflated part-exchange flimflammery = Q x 0.9

    H
    Last edited by Haywood_Milton; 20th June 2019 at 16:23.

  4. #4
    Quote Originally Posted by Haywood_Milton View Post
    The most expensive resellers should not be used as evidence to set the pricing paradigm for the wider market, but at times it variously suits both trade and private sellers to be measured thus.

    Rule of thumb, though there are individual model and regional variations :

    Average price of a given Rolex on Watchfinder and Chrono 24 = Q

    Actual price at which dealers will more commonly sell the same watch reasonably quickly without any artificially-inflated part-exchange flimflammery = Q x 0.9

    H
    We all know WF advertise at the very top of the range and I will bow to your industry knowledge as to the 90% rule. However I would be interested to know whether for the LV and new GMT's the WF prices are Hobson's Choice if you want those models - purely on the basis that other dealers such as yourself have no stock of them

  5. #5
    Doesn't mean they are selling just because they are listed at a shade under 20k!

    Rolex sports watches are currently in bubble mode!

  6. #6
    Grand Master Foxy100's Avatar
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    I seem to recall five or six years ago they were selling on here for £3k or so. Has everyone discovered they like green watches?
    You can live in your car but you can't drive your house.

  7. #7
    Master
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    You really don't see the word flimflammery used enough these days.

  8. #8
    Master
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    Haywood, your LV is a bargain at £12.5k! Hoover it up OP.

  9. #9
    Master wileeeeeey's Avatar
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    Quoting WatchFinder is like quoting Foxtons.

  10. #10
    Master
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    Quote Originally Posted by wileeeeeey View Post
    Quoting WatchFinder is like quoting Foxtons.
    But at least an over-priced house is useful........

  11. #11
    Master Iceblue's Avatar
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    Let just see how many people cry when the bubble bursts lol

  12. #12
    Yawn....

  13. #13
    Master
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    Thumbs up

    Quote Originally Posted by KingKitega View Post
    Haywood, your LV is a bargain at £12.5k! Hoover it up OP.
    And that’s the point of the over pricing.

    People say the dealers aren’t to blame but they set these silly prices then people (like OP) start threads or discussions about how crazy the prices are. Then anyone selling one privately suddenly does the “well watchfinder are selling them for £xxxx”

    Then when someone has one for sale for a huge price (but way less silly than the top money) it’ll probably sell as it’s ‘cheap’

    This happens in a lot of areas. Even poxy new £5 notes when they come out with a different serial number! The amount of times I had someone tel me an AK47 £5 note is worth hundreds/thousands back when they appeared! But if you look on eBay it’s people creating this fake market by advertising high then you get people paying £50 for a £5 note because it’s ‘cheap’.

  14. #14
    Master
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    Innocent caught in drive-by pitchfork incident enquires:

    "So, should I ask less for my LV?"
    Last edited by Haywood_Milton; 20th June 2019 at 18:50.

  15. #15

    Secondhand Rolex LV price madness

    I’m sure people said this years ago, but the market must be overheated. I’ve nothing against Rolex sports watches, quite the opposite, but £15k for a green ceramic Submariner?

    The 16610LV I can excuse a little, being as it is a rather special watch. Mid to Long-term, however, if the next Submariner is what I think it will be, they will no longer be the most desirable modern Submariner, and prices may soften accordingly. That’s if the 126610 has the improved movement, returns to the traditional case shape, keeps Glidelock and the current maxi dial, (and maybe has red writing).

    Probably a few years off yet... perhaps held in the wings until demand has lessened and the shoe’s on the other foot.

  16. #16
    Craftsman
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    WF are also offering nearly £10k for a 2107 LV. The prices have gone astronomical, I remember the “Kermit” advertised for £5k and I thought it was expensive then when I first entered the Rolex world!

  17. #17
    Master vRSG60's Avatar
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    Hulk! I’d be mad if I found one


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  18. #18
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    Quote Originally Posted by EmilA View Post
    WF are also offering nearly £10k for a 2107 LV. The prices have gone astronomical, I remember the “Kermit” advertised for £5k and I thought it was expensive then when I first entered the Rolex world!
    They are buying in at £10k and selling for maybe £17-19k. Keep hearing dealers saying they are not making much margins on Sports Rolex, Patek etc or maybe they just do not want to state how much they are really making to avoid any bad press on forums like this.

    It has been clear for sometime that the current Rolex, Patek prices are driven by speculators and that includes the dealers but when someone says that money is better in a Rolex than in the bank I can never accept that. My ISA delivered £5k in interest this year and will do the same next, what point in time do I see a £5k profit if I am buying an inflated secondary dealer Rolex or Patek.

  19. #19
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    I personally don't understand the whole Rolex market at the moment. To me they just aren't that desirable and the amount of fakes on the market means when do see one I assume it's fake.

  20. #20
    Master
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    Quote Originally Posted by Haywood_Milton View Post
    Innocent caught in drive-by pitchfork incident enquires:

    "So, should I ask less for my LV?"
    You should list it at the three odd grand they used to go for and issue a letter of apology once sold.
    Naughty man.

  21. #21
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    Quote Originally Posted by Foxy100 View Post
    I seem to recall five or six years ago they were selling on here for £3k or so. Has everyone discovered they like green watches?


    Really? Thats completely nuts.

  22. #22
    Craftsman
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    Despite mental costs, I still quite fancy one...

  23. #23
    Master
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    All just means that the bursting bubble will likely settle out still above RRP...

  24. #24
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    Quote Originally Posted by murkeywaters View Post
    the buying public who inflate the prices by buying at what they ask..
    I'd love to know who the buyers are!

    You could have had a 116610LV with a discount 4/5 years ago (per my AD). Who is it buying at £15k+ that didn't like the idea when they were c£6k??

  25. #25
    Interesting. I see mark worthington recently listed a hulk for over £14k and it is reserved already. Buyers seem to be there.

  26. #26
    Master
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    A lot of fuss about nothing. A watch is like anything else, it is worth what some else is prepared to pay for it. We all pay the going rate and equally we all sell at the going rate. Someone wins and someone loses, it has been thus since the begining of time.

  27. #27
    Craftsman smalleyboy1's Avatar
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    I agree that dealers are pricing them high but if buyers weren’t paying those prices,or close to them, then the dealers would have to price them lower.

    I was luck to buy a Hulk a few years ago from an AD after only a 6 month wait. Hence my surprise at the rapid rise in prices.

  28. #28
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    Buyers

    Quote Originally Posted by smalleyboy1 View Post
    I agree that dealers are pricing them high but if buyers weren’t paying those prices,or close to them, then the dealers would have to price them lower.

    I was luck to buy a Hulk a few years ago from an AD after only a 6 month wait. Hence my surprise at the rapid rise in prices.
    You can understand having to pay a premium for house, we all need a roof over our head and the supply shortage at all levels, starter homes or desirable areas play a factor but paying it some instances 100% premium for jewellery is staggering for what has now become quite clearly a status statement in regards watches.

    Would you pay over RRP for shoes or a suit! But as is always stated the buyers dictate the market prices and if a lot of fools are happy to pay an inflated price, so be it.

  29. #29
    Must remember that to a lot of people £20k isn’t anything, they’ll spend that much on a week in the sun. If they can buy a watch they want for £20k why wouldn’t they. Then there are us types who treat buying expensive watches as a hobby. It’s frightening how quickly £5k becomes normal, then £10k..... you’re only a couple of years from £20k being the new normal. They’re worth what they’re worth as some said above. Heck, even I would consider a 500 Daytona in the knowledge (safe or not) that I could largely get say 80% of the cash back if needed. Still a cheap hobby compared to lots of others.

  30. #30
    Quote Originally Posted by Mick P View Post
    A lot of fuss about nothing. A watch is like anything else, it is worth what some else is prepared to pay for it. We all pay the going rate and equally we all sell at the going rate. Someone wins and someone loses, it has been thus since the begining of time.
    Words of wisdom in pointless threads and debates. It is a freakin watch, not an essential for life. Prices cannot be mandated. If you don’t want it/can’t afford it, move on. So many choices out there. Whoever is responsible, if someone is willing to pay up- then that is the market price. That is capitalism. No point whining/moaning about it. No one is forcing anyone to buy at gun point. I would never pay above RRP for a current model. But am not going to complain about what grey dealers or others are charging. If people don’t buy at current prices, they will come down. Why is it that one has to find someone to blame for this situation? Rolex? ADs? Grey dealers? Flippers? Does it make it any better if you can find someone to blame?

  31. #31
    Master blackal's Avatar
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    Quote Originally Posted by RAJEN View Post
    . Does it make it any better if you can find someone to blame?
    In the era where everyone thinks they are ‘entitled’ - then yes....... Someone must be blamed.

  32. #32
    Master
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    Quote Originally Posted by Flasher View Post
    ...but paying it some instances 100% premium for jewellery is staggering for what has now become quite clearly a status statement in regards watches.

    Would you pay over RRP for shoes...
    With respect, paying huge premiums over the intrinsic cost of something is almost the definition of jewellery. I dare say that people buying these watches should probably be grateful that Rolex enforce an RRP for most ADs, otherwise the prices would be even higher.

    As for shoes, have you looked at the market for trainers in the last five years? Have a look on eBay for ‘Yeezy’ for instance - a product made in low cost factories in China.

    I’m immune of course. Never mind that I just paid £45 for a watch strap made from two cheap pieces of pressed metal and a length of old parachute webbing that must have cost 20p to produce .

  33. #33
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    Overpriced and over hyped mediocre watches.
    Green doesn’t even go with anything

  34. #34
    Quote Originally Posted by Loupe View Post
    Green doesn’t even go with anything
    May be with color of some people’s eyes:-)

  35. #35
    Rest assured it wont!
    Quote Originally Posted by Iceblue View Post
    Let just see how many people cry when the bubble bursts lol
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  36. #36
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    Quote Originally Posted by Loupe View Post
    Overpriced and over hyped mediocre watches.
    Green doesn’t even go with anything
    If people are paying the money and indeed overs, how can they be overpriced? Of course the initial mark up is set to maximise profit for the manufacture whilst still ensuring a sale. Once said item its in the second hand domain then the public dictate the price by getting their wallet out and buying from the store / person selling.

    Hence, if they are selling they are not overpriced, they are priced appropriately.

  37. #37
    Quote Originally Posted by Foxy100 View Post
    I seem to recall five or six years ago they were selling on here for £3k or so. Has everyone discovered they like green watches?
    I think they were a bit more (but not a lot) I bought mine new in 2008 for £3.3k from a friendly AD, I think they were £4k RRP at the time and second hand was £4k for flat 4 and £3 to £4k ish for anything else. They raised slowly from that time inline with RRP.

    Strangely I have only seen very few in the wild, one on the Central line yesterday on a young Asian guy in head to toe Comme Des Garcons

  38. #38
    Master
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    Quote Originally Posted by Foxy100 View Post
    I seem to recall five or six years ago they were selling on here for £3k or so. Has everyone discovered they like green watches?
    3k 5-6 yrs ago i doubt that very much. i paid something like 5300 for a black one and part ex-d with 1200 quid for mine 12 mths later, they were both 2013 models, how much are they payng for black ones these days.

    50yrs ago people were buying a watch with COMEX written on them, how much are they worth now ?

  39. #39
    Master
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    Quote Originally Posted by tz-uk73 View Post
    Interesting. I see mark worthington recently listed a hulk for over £14k and it is reserved already. Buyers seem to be there.
    Mark Worthington's shop is in wimslow, cheshire. So he probably sold it to someone scraping the change out of his arse pocket, it's full of millionaires.

  40. #40
    Master
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    Quote Originally Posted by blackal View Post
    In the era where everyone thinks they are ‘entitled’ - then yes....... Someone must be blamed.
    It's no ones fault, it is simply the market and the market is immortal and cannot be bucked.

  41. #41
    Master
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    It reminds me of the documentary on Enron. ‘’The smartest guy in the room.’ They couldn’t lose either. And they worshipped the market.
    Pity it didn’t work out.

  42. #42
    Master blackal's Avatar
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    Quote Originally Posted by Loupe View Post
    Overpriced and over hyped mediocre watches.
    Green doesn’t even go with anything
    Always suspected it was meant for countries whos national flag featured green predominantly.

  43. #43
    Quote Originally Posted by Loupe View Post
    ...Green doesn’t even go with anything
    This is why I opted for a black Sub Date instead of the LV. It was only years after I realised that I had made a mistake. The LV is surprisingly quite wearable and fitted in well with 95% of my wardrobe (which is pretty much all the same type/style). I obviously concentrated on the 5%.

    The price difference was £3090 vs £3300~ at the time but which today is a different story. I made a mistake. Doh!

    I would have to win the lottery to buy one today as the prices are a bit tough to swallow. More so when an AD offered a new one at £2650 in 2005.

  44. #44
    Master
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    Not a huge fan of them but I wonder how easy would it be to swap to a green bezel for a Kermit look and save a packet?

    I remember trying on an LV50th in 2008 and was offered £50 off the £3050 price and I baulked it and bought a speedie pro for £1600.

    I still love my speedie but financially what an idiot!!!!!

  45. #45
    Quote Originally Posted by Loupe View Post
    Green doesn’t even go with anything
    They seem to have repainted the office i’m Working in and it matches perfectly (or does it clash?)


  46. #46
    Master
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    Quote Originally Posted by the big fella View Post
    Mark Worthington's shop is in wimslow, cheshire. So he probably sold it to someone scraping the change out of his arse pocket, it's full of millionaires.
    Lots of the Premier League football players live in Cheshire, don't they? If you are getting paid at least £100,000 per week, I can see how paying £14k for a £7k watch is no biggie.

  47. #47
    Master
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    Green is a weird colour and indeed not very wearable.

    That said anyone seen 116508 Christmas dial prices lately? 60k thereabout. Thank john hackmayer...

    The rolex market is a full on Fomo bubble, waiting to burst, but it may take a while yet...

  48. #48
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    I sold my hulk a couple of months ago purely because i was not wearing it at all probably cost me a few quid on todays prices
    Gave it one last chance and it was of my wrist by lunchtime cant stand the green anymore far to flashy
    Now fancy a sub non date
    In my eyes a very well presented watch without the glitz look



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  49. #49
    It has never crossed my mind to make sure my watch matches the colours of my outfit. I have watches that are yellow, orange, blue, white, black, and green.... they all look great irrespective of what colour my jumper or trousers are. The hulk definitely looks great with everything.

  50. #50
    Craftsman
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    In terms of them being available at discount before. I joined the watch “game” in 2016 and sadly that boat had already sailed for me.

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