Reply With QuoteI think that the fact that I have purchased a certain watch ensures its devaluation far more effectively than a worldwide financial crash.
I have noticed over the last few days with the world in panic over Covid-19 that there seems to be more Rolex watch sales on TZ than normal.
This just may be a coincidence or are TZ members starting to panic and sell before the crash.
It dosen't bother me as i am not selling and i only ever bought watches to wear and not appreciate in value.
What do you think ???
I think that the fact that I have purchased a certain watch ensures its devaluation far more effectively than a worldwide financial crash.
I think that there's several other threads where the same topic is being discussed ad nauseam.
______
Jim.
why stop at your watch? sell your cars, furniture, clothes, and house too!
😂Originally Posted by unclealec
Increased Rolex sales on SC started a while back when prices started trending down.
However threads like this are sure to help devalue your watch
Last edited by mtagrant; 20th March 2020 at 11:45.
I only buy watches I like so if they go down in value or up in value it doesn’t matter as i’ll still enjoy and wear them. If I do want to sell like my Tudor gmt because i’m Not wearing it, then yes i’ll Take a loss on that one but others i’ve made a win on so it’s swings and roundabouts.
haha amen to that
And your body? 😬
Yeah - we should have tee shirts printed. Just need to have WIS in big bold letters. In particular to wear when visiting AD's
Happy to take ceramic Daytona’s at 90% of RRP, or Blue/Black or Pepsi GMT’s at 80% of RRP - let me know if you are crazy or desperate lol
It's just a matter of time...
Already a similar thread on this.
https://forum.tz-uk.com/showthread.p...e-Watch-Market
Thanks
But i was thinking more about TZ members than the general public.
A fair few of those listed recently have sold, so there is still a market for the right watch at the right price. Some of those that haven't sold are for good reasons, one is an 11 year old watch with no service history and looks well worn. Price asked is £800 below list price and ADs estimate they can deliver a new one in less than 6 months. My guess is it will remain unsold.
I think this thread is perfectly valid as it’s asking specifically about SC.
Anyone who can’t see the huge rise in Rolex sales or thinks its a coincidence that there is a flood of Rolex on SC needs their head examining. There will have been a load of people with a watch in their collection that they just held onto, probably didn’t wear that much, thinking of it as cash in the bank. In the last 7-days, they’ve realised the serious prospect that their watch might be decreasing in cash value and losing the liquidity it once had. These are the watches that are being sold. Why hold onto your potentially £10k sports Rolex that you aren’t wearing anyway when it looks like it’s cash value might be in decline?
I don’t think these sales are from people wanting to sell out of any watch enthusiast reason (like not wearing it any more or trading up), just people looking for an opportunity to cash in their investment before it loses value.
Personally I am looking forward to enjoy my watches, this is why we have all worked hard to enjoy life little luxuries, I do not wish to dwell on the fact that people will have to sell there assets off just to survive the global situation we all find our selves in right now, whilst I know many of these threads are quite taken with a pinch of salt and we all enjoy them for what they are, However this Covid 19 will cause a lot of people to face severe hardship and make very difficult financial decisions affecting families, colleagues and loved ones etc, i wish all fellow TZ ers well during this cereal times we are facing.
Cheers
Tony
I don’t think its selling due to a worry that the value is dropping, I think it’s more due to uncertain personal circumstances. For example, my wife’s new job start date is on hold after handing in her notice on the old one, I’ve been looking at my 16600 as a few months mortgage payment should I need it.
I can see me buying a few older (Seikos), if the models that I want come up ..........the situation is bad enough in other areas, so I'm not giving up a hobby that I enjoy
True, I agree there will be quite a few sales due to reasons like this too.
When you starting asking this sort of question, invariably it's too late.
How do you think I bought the watch?
What we do know is watch prices certainly wont go up during this period. So if you can sell now for similar to market value has been then worst case you can buy it back for the same in 6 months to a year.
You will see watches sat at prices they would of previously sold for and then slowly drop down as more are added. Drop on prices is inevitable i think.
Plus, as demand at Watchfinder decreases, so will their buy-in prices which will depress all secondhand prices.
Sorry to hear about the uncertainty of your wife’s start date. You’ve said ‘a few months mortgage payment should I need it’. Surely the fact that you might get a couple of months less mortgage payments out of the sale of your watch if you wait to sell it is playing on your mind?
Well sort of, it’s not a issue just yet, it depends how long all this lasts. The value would have to completely collapse to be a real issue.
Cheers..
Jase
I think the mortgage payments will be what drives the market - when we move into April and may and people are still being let go, we'll prices drop pretty sharply.
Bloody hell!! With my body I’d be lucky to get enough for a Mcd’s value cheeseburger.
Your lucky then i would have to throw the burger in
I FEEL LIKE I'M DIAGONALLY PARKED IN A PARALLEL UNIVERSE
I think that Daytonas will be ok as historically they have always held their price irrespective of economic conditions.
I think the bog standard Rolexes such as Subs and DJs etc will take a hammering.
- - - Updated - - -
Very informative OP, thanks for posting.
Checked my 'collection' (well the 4 watches I could be bothered adding) on Chrono24 for the first time in ages and it actually shows that if I sold them all for their average prices I'd actually make a (tiny) profit. Even my Breitling - that the wife bought for RRP (ouch) is not losing quite as much as it normally would.
You'd have to pry them all from my cold dead wrist though as no way i'm selling any of them.
There will be a severe correction in prices during this -I don't think there's much doubt about that.
People will look back in a few months and wonder what the hell they were doing paying double RRP for a 6-7K watch.
I don't see a 1K drop from the premium they were selling at last month as a good deal.
Hold onto your hats.
I agree with you
Clearly some of the winners here will be people who were lucky enough to buy at list price and either kept hold or cashed in for a big fat profit. All of this though tends to relate to new watches, what about out of production/vintage/rare watches. I don't see those crashing any time soon. Sure, if enough people flooded the market then asking prices would have to fall, but in the main owners of those watches would probably fight tooth and nail to keep hold of them.
Red Sub anyone
I have 4 vintage Rolex and I'm under no illusion of them holding their value either to be honest.Clearly some of the winners here will be people who were lucky enough to buy at list price and either kept hold or cashed in for a big fat profit. All of this though tends to relate to new watches, what about out of production/vintage/rare watches. I don't see those crashing any time soon. Sure, if enough people flooded the market then asking prices would have to fall, but in the main owners of those watches would probably fight tooth and nail to keep hold of them.
Red Sub anyone
I don't think any watches will be immune to a correction of some sort.
To be honest, I’m not sure why people get that bothered. I’ve maybe got 5% of my net worth tied up in watches and I tend to think of them as money spent rather than an asset. If I lose £5k because of a ‘bubble bursting’ I suspect it would be the least of my problems.
The only reason I’d consider selling one of my collection of four watches would be if it no longer gets worn or there is another unnecessary ‘thing’ I want to buy but can’t justify spending the money on it.
People might think the ones moving really early are panicking but history shows that it is those who move the fastest, when a market starts to fall, who are the sensible ones. Yes they are getting less then they could a month ago but they will be getting a heck of a sight more than if they sell three months later.
The problem will be in actually selling into the falling market. the number of buyers of pure luxury items for personal wear will collapse pretty quickly. The numbers buying as an investment and profit will be pretty much zero.
The larger problem is that those who remain who are willing to purchase, if they are sensible, will just hold off in a falling market and try and pick the 'right' moment to buy. Prices tend to overshoot both going up and coming down. It cannot be long before the price of used but common watches fall significantly below new RRP. I cannot see what would hold up these prices beyond RRP. There will be plenty of new ones available soon, assuming watch manufacturers continue to churn out watches even if they reduce numbers somewhat.
Mitch
It feels almost inappropriate to comment, but this is a watch forum. Clearly the market peaked 6 months ago, but the decline in values is going to accelerate. I envisage a stand-off for a while, sellers will want recent market value, buyers will want much less. Eventually the AD supply will ease, and when desirable models are in windows, or available with a tolerable wait at rrp, then there will be a massive realignment of value. I’m not sure when that will happen, but I’m sure it will.
The vastly more important COVID issue that underpins this is I’m afraid going to get very bad quite soon. I’m a frontline medic and it’s never been so quiet in Emergency , but it’s the calm before the storm, and that storm is most certainly coming.
If the crazy world of watches provides a small distraction from current issues then that’s good. If you overpaid a bit for a watch you like, just keep it, in the long term it’s of no consequence. For those with unstable incomes and a bit too much in assets that are less liquid then they were, then I’m sorry for the stress. For those that speculated on growth forever then if you are going to get out, then do it sooner rather than later, but I think it won’t be that easy.
Dave
Sent from my iPad using Tapatalk
What a rich bad ass you are
Why should I sell my watch? I bought the watch because I like it. Not to make money. This thread confuses me.
Sent from my iPhone using Tapatalk
And to wear
I've come to the conclusion that there are 3 things certain in life:
Death;
Taxes; and
Rolex maintaining, at least, their value.
The three I have listed were all purchased via a ltd company as investments. I shared ownership of that company with my now ex wife. I’m not that surprised in the lack of interest given everything else that’s going on. Looks like I get to wear them a bit longer :)
Seems a lot of people are wishing that Rolex drop off a cliff so they can buy one. In reality it won’t and any short term loss, will be a long term gain.
That’s a shame, the fundraiser could really benefit there.
Don't just do something, sit there. - TNH
I don't think so.
I think a lot of people hope they return to roughly the value that Rolex set for them which is RRP.
The ceramic stuff doesn't interest me but I can understand why those who couldn't or wouldn't play the game are having their interest piqued.
All “assets” will be hit, I expect a watch sell off but I won’t be selling any of mine.
I don’t really have any valuable items anyway.
I would not sell any of my watches (including Rolex) unless I had to. Their current market value is not of the slightest interest to me. I could never understand people buying watches as investments. Doesn't seem much fun to me. Just my opinion though.
with Rolex Sports watches it will now be the same as most other assets classes
it will be driven by greed and fear, especially from the punters who thought that they would buy to make a profit
they were greedy and now they are afraid that they will make a loss on their sale
part of the "state of man" as we have become
Title of threads seem to be irrelevant, all we ever talk about is Rolex this Rolex that...like we don’t care about any other brand and no other brand matters
Last edited by ac11111; 20th March 2020 at 22:34.
Posting Permissions
