£12.5k is high for a Hulk. Highest I've heard a dealer offer is £11.8k... Hulks are not discounted when I last checked though so maybe that's why. £13925 (2011) to £15950 (2019)on their website so allowing for a bit of haggling, margins are quite slim if they're offering £12.5k-£13k.
Most bubbles burst literally overnight and it catches everyone out. A bit of price cutting from sellers who punt at the real top end is not really the sign of a bursting bubble.
Yeah I agree with this and I believe this is what Haywood's point was. WF were trying to bang BLNRs out at £14.5k when Haywood was selling them for £11k. Suddenly WF sell excess stock (because many of the finance staff who buy their watches at any price are worried their jobs are getting relocated to Frankfurt or Dublin) for £12.5k and it's Armageddon. Meanwhile Haywood now sells them at £11.5k (as an example). WF prices seem to be 'crashing' whereas Haywood sees a near 5% price appreciation. Depends what side of the fence you are.
True, and there’s the oyster bracelet too which some will prefer - I was more thinking about the Daytona as the currently produced model. It would be strange for them to change it considering its popularity. But then, they do have a history of gilding the lily and making things worse as often as they make them better. I wonder what Baselworld 2020 will bring, it only takes popular new bezel colours (or even, more elegant cases) to upstage the current darling.
Was quoted £20.65K for a 11 month old SS Daytona first week of November.
I would think that these discounted pieces were purchased in over the course of this year at substantially less than what they have been paying more recently.
Buy quotes in April were considerably lower than they were in October, early November.
So, to sum up then,
Where HM prices represent the more-sensibly priced establishments.
My layman's view point of the Watchfinder sale.
1. Prices too high.
2. Stock too large.
3. Turnover not high enough.
4. Profits falling.
5. Year end targets not being met.
6. Overheads too high.
7. Do something before we go the way of many other companies that have expanded too quickly.
8. Don't listen to Bark & Jack.
Meanwhile in the Watchfinder offices,
There's a marketing exec who is rubbing his hands with glee because they've managed to pull off an advertising coup and get every man and his dog talking about them.
The Bark and Jack video does feel very much like click bait, shame as I normally think he has a bit more integrity than that....
Is there a sale on ??
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I think the 6 digit maxi case Rolex have over swelled their above RRP asking especially by some optimistic dealers, yes they are hard to buy new but let’s remember they are still produced and sold by Rolex.
To me 5 digit watches are still sensible in comparison, especially as they are not in production no more.
Last edited by murkeywaters; 22nd November 2019 at 09:37.
Opinionated bloke such as might be found on a watch forum + a camera + the desire not to have anyone arguing back = Bore with a youtube channel
That these men get referenced in our discussions as having an opinion somehow worth more than anyone else's shows what suckers people are for the trappings of authority.
SALE Sale Sale!
Now let the people who actually want these watches buy them for what they are worth (which IMO opinion this is still to high compared with a few years ago) and for the greedy buggers, hel roast them, as my granny would say?
Have a great weekend. I guess as historically with Rolex the discontinued models will start to go up 16520, 116520 and 116600's
M
Last edited by milwatch126; 22nd November 2019 at 15:30.
I'm pretty sure this has dropped by some margin:
https://www.watches.co.uk/Patek-Phil...5711/PK-21369S
Next week I am picking up my BLNR from Rolex and I am not worried in the slightest.
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A bubble is a situation where mugs panick and sell en masse and the clever guys just sit on the side cherry picking all the bargains. To suggest we are anywhere near that is a wild exaggeration.
I think the mindset of most watch owners is to buy and hold on for a long time and even pass it onto the kids and that alone helps to keep prices up.
The flippers, be they greys or private individuals are simply a link in the supply chain and are merely chancers. It is the final customers who dictate whether there is a boom or a bust.
Bark & Jack video on the Rolex bubble finally bursting “I don’t think the bubble has completely burst, they’re still selling for double retail...”.
The graph earlier in this thread sums up my thoughts perfectly
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Normal service resumed yet???
Regards comments on depreciating values/asset, it is all relevant at point folk wish to sell which for me is hopefully many many years away. Until then I don't give a monkeys on the market, I will just enjoy, which is our passion at the end of the day.
Hugs
Pitch
They are still priced at 2-3x what a sane person would pay so I’d say we are some way off off a bubble bursting just yet.
Widely recognised the inflated prices which WF places on not just the Rolex range but throughout it’s inventory but looking around the other usual suspects of Grey and even the AD pre owned, most of them are similar in pricing to the ridiculous WF. Blowers, Mark Worthington, Watch club etc all hitting the high price mark and looking at an Rolex AD in Glasgow pitching pre owned Hulk and Blnr at just under £15k.
Very few dealers are offering even close to good value and many are just as guilty as WF on their ridiculous prices.
Look at the places which usually charge "toppy" prices and what do you expect?
Suggest finding more / different outlets to consider.
Watchfinder / Chrono24 score for easy searching and viewing of numerous watches, but there is often a price for laziness.
If we're at Complacency then the fun is just beginning for the Grey dealers
So, people have been claiming that bubble is going to burst for three years? LOL, the irony!
Ofcourse, prices can correct and will correct.
What is laughable and pitiable is constant refrain about bubble bursting -mainly from people who don’t want a Rolex or don’t have one or can’t have one.
Little do they realise you can’t talk a market down.
It will come down when demand subsides or the economic climate is not favourable.
It is as it is with all luxury commodities.
There seems to be atleast some softening currently.
Hard to predict how far and how fast it will go or stabilise.
I see Adrian is doing a follow up
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