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Thread: Watchfinder do they not want to buy Premium watches ?

  1. #101
    One things is for sure there is not a lot of moment on any of the SS Rolex that have been on SC over the past few weeks.

  2. #102
    Grand Master Chris_in_the_UK's Avatar
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    I hope I am wrong, but I see little reason to buy anything right now - as a dealer or private individual.

    The future is by no means laid out (yet).
    When you look long into an abyss, the abyss looks long into you.........

  3. #103
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    I am planing to go on a buying spree and buy the pieces I like and that I wish I had not sold after the shops open.
    As one thing this pandemic has reminded me is that life is short and I would much rather enjoy the watches I want rather than wait. Also money in the bank is making nothing.

  4. #104
    Craftsman petay993's Avatar
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    Quote Originally Posted by boring_sandwich View Post
    One things is for sure there is not a lot of moment on any of the SS Rolex that have been on SC over the past few weeks.

    Err, that Explorer 2 didn't last long tonight, quite well priced admittedly

  5. #105
    Quote Originally Posted by shoppy View Post
    I am planing to go on a buying spree and buy the pieces I like and that I wish I had not sold after the shops open.
    As one thing this pandemic has reminded me is that life is short and I would much rather enjoy the watches I want rather than wait. Also money in the bank is making nothing.
    I pretty much did that but before covid19 was even a thing. Money in the bank does nothing for me, i’d rather live in it, wear it, visit it, or drive it. Had friends and family die early and I want to see some purpose to working all these hours beyond numbers in a paying in book (gone a bit old school there)

    And yes that polar explorer went very quick, I was just too late.

  6. #106
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    As a post above says. Sit tight! No time to be selling anything right now...

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  7. #107
    Quote Originally Posted by petay993 View Post
    Err, that Explorer 2 didn't last long tonight, quite well priced admittedly
    Yes well priced at 15% under current RRP.

  8. #108
    Master bokbok's Avatar
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    Quote Originally Posted by Padders View Post
    Yep their offer seems silly to you now. Today you want, lets say, £10K, next month you'll settle for £9K, In 3 months £6K might sound reasonable.

    Ridiculous is relative.
    Never said I was trying to sell it, I won't be selling any of watches now or in 3 months.

    I do think a lot of folk are hoping arse falls out of Rolex market so watches become cheap as chips and go back to 4 years ago.

    The market might come down on premium stuff which it should. Will bet my full collection on that watch won't be trading for £6k in the near future or any time soon.

    Well I am still waiting for the PM for the pepsi £8k





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    Last edited by bokbok; 4th April 2020 at 22:57.

  9. #109
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    So you were wasting Watchfinder's time and at the same getting righteously indignant at their low offer which you had no intention of taking even if competitive for no reason? I see.

    I get why you posted this thread, their offer does seem low wrt to the values achieved recently but you seem reluctant to accept that the new reality is that your supposed £10-11K banker is no such thing. If you can find a private buyer in the next few weeks maybe you can get out near that, the longer you leave it, the less likely it is.

  10. #110
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    Quote Originally Posted by Padders View Post
    So you were wasting Watchfinder's time and at the same getting righteously indignant at their low offer which you had no intention of taking even if competitive for no reason? I see.

    I get why you posted this thread, their offer does seem low wrt to the values achieved recently but you seem reluctant to accept that the new reality is that your supposed £10-11K banker is no such thing. If you can find a private buyer in the next few weeks maybe you can get out near that, the longer you leave it, the less likely it is.

    Do you think they have anything better to do at this time? Not like it's a roaring business model during these times lol.

  11. #111
    Master bokbok's Avatar
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    Quote Originally Posted by Padders View Post
    So you were wasting Watchfinder's time and at the same getting righteously indignant at their low offer which you had no intention of taking even if competitive for no reason? I see.

    I get why you posted this thread, their offer does seem low wrt to the values achieved recently but you seem reluctant to accept that the new reality is that your supposed £10-11K banker is no such thing. If you can find a private buyer in the next few weeks maybe you can get out near that, the longer you leave it, the less likely it is.
    It's watch forum folk would like to know that there bidding on the balls now!! And I'll say again I not arsed about selling it was toying with wanting a pepsi.

    I never would expect offers around 10k, I thought would round Rrp.

    The watch was unworn RRP short of 8k and your trying to justify less than 5k bid from them, you still cannot buy the watch from AD and probably won't in the future either, Rolex is shut down etc.... Rolex ADs are closed so despite everything.



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  12. #112
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    Quote Originally Posted by bokbok View Post
    It's watch forum folk would like to know that there bidding on the balls now!! And I'll say again I not arsed about selling it was toying with wanting a pepsi.

    I never would expect offers around 10k, I thought would round Rrp.

    The watch was unworn RRP short of 8k and your trying to justify less than 5k bid from them, you still cannot buy the watch from AD and probably won't in the future either, Rolex is shut down etc.... Rolex ADs are closed so despite everything.



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    Fair enough, it sounds like your expectation isn't too unreasonable. At present at least. I would point out, however, that I am not trying to justify anything. WF aren't a charity or a public service and as such to consider them as such is silly. Like many others, they are a business suffering an unprecedented crisis and their reaction is to conserve capital. I agree their offer is derisory and in your shoes I wouldn't be taking it, but I also expect the resale of such a watch on the open market to fall in the coming weeks, perhaps drastically so their stance isn't completely unwarranted. Keeping hold may well be the best plan. Things will surely get better before too long and businesses will trade normally once more.

  13. #113
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  14. #114
    Quote Originally Posted by bokbok View Post
    It's watch forum folk would like to know that there bidding on the balls now!! And I'll say again I not arsed about selling it was toying with wanting a pepsi.

    I never would expect offers around 10k, I thought would round Rrp.

    The watch was unworn RRP short of 8k and your trying to justify less than 5k bid from them, you still cannot buy the watch from AD and probably won't in the future either, Rolex is shut down etc.... Rolex ADs are closed so despite everything.



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    These were regularly selling for anywhere up to £13-£14k weren’t they middle of last year. I think prices came down before Christmas didn’t they? And yes now wouldn’t be a good time to sell but you know that and you’re not looking to sell anyway. So Why not use WF to see what a buy in price is, i’ve Used WBAC dozens of times with no serious intent to sell or buy, just curious.

    I believe WF quotes on regular stock items are computer generated based on system code and I assume stock and demand levels, therefore we’d expect it to be rock bottom now. I’ll admit it was even lower than I was expecting. If you were to ask me before you posted i’d Have thought a WF offer of £7.5-£8k. I’d expect listed on the market here or eBay at £9k-£10k it’d sell pretty fast
    Last edited by tz-uk73; 4th April 2020 at 23:26.

  15. #115
    Quote Originally Posted by bokbok View Post
    It's watch forum folk would like to know that there bidding on the balls now!! And I'll say again I not arsed about selling it was toying with wanting a pepsi.

    I never would expect offers around 10k, I thought would round Rrp.

    The watch was unworn RRP short of 8k and your trying to justify less than 5k bid from them, you still cannot buy the watch from AD and probably won't in the future either, Rolex is shut down etc.... Rolex ADs are closed so despite everything.



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  16. #116
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    Quote Originally Posted by SteveM112 View Post
    Are we Talking about the Watches of Knightsbridge Auction last weekend

    The estimate on the BLNR was 9-10k but i thought it didn't sell..

    Apologies if if have the wrong auction.

    It would be interesting to hear from the OP what price he was expecting from Watchfinder in the current situation
    No. It sold at 9.6K
    I can't see the advantage of them faking a sale as surely they would then need to pay the VAT and buyers premium.
    As an aside Tony(Bokbok) is a realist on prices and a straight shooter.
    He knows the value of his watch and if he advertised that on here at say 9K it would be gone in an hour.
    That's not to say in 2 mts it would be gone at that.
    I'm hoping for a price correction on stuff to an extent but not really expecting a major fall but that's just my take.

  17. #117
    I seem to be doing this watch ownership all wrong, i've bought watches i like and then have worn them

    It would appear you're meant to buy them, never wear them, the irony being a watch not used is just a piece of metal as it never does the one job it was designed to do

    Is there actually a shortage of rolex sports watches or is the apparent shortage due to people buying them not to wear

    It has been obvious for a while rolex and patek are in a bubble, on the way up people always think this bubble will never burst, every time people are absolutely sure, until it does, there is always denial

    Now assuming no one needs to sell, the same number of people want to buy and the supply is the same then the price will remain. The problem is part of those is wrong, we are potentially looking at 25% unemployment, a drop in house prices meaning people are in negative equity, there is no way the demand for pieces to steel to put away is going to remain the same, people are going to have to sell because you can't pay your mortgage with a watch and although rolex may have temporarily stopped production, they can't do that forever so will be mass producing them again

    The giving mass produced items names is a classic symptom of a bubble, where people try and make things made in huge numbers special or concentrating on tiny differences as if that somehow makes it rare

    Its a watch, wind it up, set the time and the pleasure comes from wearing it, that's the value

    it is not rare, it is not special and things are only worth what people are willing to pay for them. This forum is not typical it's a tiny slice of the world, people here maybe looking to get watches they've always wanted at the new lower price, this maybe true, but who is going to jump in when tomorrow it could be cheaper here waiting becomes a self fulfilling prophecy

  18. #118
    Craftsman SteveM112's Avatar
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    Now is clearly not the time to be playing on Watchfinder /Watchmaster to find out what your pieces are worth..

    It is clear from their offer that they only want more stock at a price that they can afford to sit on and why would anyone be getting a quote from these companies unless you are desperate to sell hassle free or just a dreamer with nothing better to do in these difficult times.

    No one can predict where this will all end everyone’s situation is personal.. there will be those who have been swept away with the Social Media fueled hype of perceived luxury watch ownership and are maybe experiencing difficult times right now and this will continue as this unprecedented Pandemic will continue to affect all of our lives in very different ways for maybe many years to come.


    Sit tight unless you need to liquidate your collection and even then try selling them on here first and experience the joys and risks of selling/buying high value items privately.

    Dealers are an easy option for a safe transaction and will continue to make their margins whatever the market dictates but of course that comes at a price and why wouldn’t it..


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    Last edited by SteveM112; 5th April 2020 at 07:36.

  19. #119
    Apprentice Johnny.h's Avatar
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    Watchfinder

    I myself have put a Tudor bb in for part exchange only last week and they offered me £635 as you can imagine I declined there offer and they lost a sale as well before they were owned by richmonte or subsidiary off,they were decent to deal with but not anymore.

  20. #120
    Quote Originally Posted by SteveM112 View Post
    A dealer makes his margins whatever the market


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    On new sales of newly purchased stock yes - but if the dealer has to readjust prices downwards then that margin and then some has gone.

    In the IT industry "price protection" is very important for just this reason

  21. #121
    Craftsman SteveM112's Avatar
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    Quote Originally Posted by MB2 View Post
    On new sales of newly purchased stock yes - but if the dealer has to readjust prices downwards then that margin and then some has gone.

    In the IT industry "price protection" is very important for just this reason
    Absolutely hence the seemingly low offer...Our Watches are no different..

  22. #122
    Quote Originally Posted by ~dadam02~ View Post
    But that isn't the point is it, your average collectors isn't going to fall for selling at those prices are they? So no hearts need to bleed for those, its the innocents thy have been put in difficult situations through no fault of their own and have to sell to survive that we should spare a thought for.
    You do have to feel for the people that have been put in difficult situations through no fault of their own and have to sell to survive.

    A lot of people got caught up in the internet hype over the past few years unfortunately paying way over the odds for certain brands / models and they will be the worst affected if they need to sell.

  23. #123
    i'd say any auction sales at the moment that are above RRP are down the 'auction fever' bidding by people that have not realized the market adjustment at the present time.

    * i have 5 x 1kg bags of pasta i'd swap for a sub , due to the rarity i'd expect cash my way as well :)

  24. #124
    Master
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    They appear to have several thousand watches in stock if their website numbers are even remotely accurate, with many of them being in the over £10,000 range and the bulk between £5,000 to £10,000.

    Complete and utter guess but if they’ve paid £20m to get that stock hoping to sell for £26m (30% uplift), are they now sitting on stock that they would struggle to move anywhere near what they paid, let alone at a profit? Another guess but I’d imagine that 95% of their potential buyers are gone for now and how many of them won’t come back anytime soon.

    Who knows, maybe their parent company might have put the brakes on any spending/more stock purchases and any offers they make are with very limited funds available?

  25. #125
    Grand Master mart broad's Avatar
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    Do not think this is a big issue to these folks and hopefully not coming to anywhere near you.

    https://uk.news.yahoo.com/indias-gov...140047467.html
    I FEEL LIKE I'M DIAGONALLY PARKED IN A PARALLEL UNIVERSE

  26. #126
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    Quote Originally Posted by mart broad View Post
    Do not think this is a big issue to these folks and hopefully not coming to anywhere near you.

    https://uk.news.yahoo.com/indias-gov...140047467.html

    That’s one heck of a reality check.

  27. #127
    Master murkeywaters's Avatar
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    Watchfinder do they not want to buy Premium watches ?

    Well I was part of the recent SC Rolex merry go round, I came away with a watch I have always wanted, an unpolished full set tritium 16600 Seadweller.

    I paid the asking and didn’t try to knock the price down, am I fool with his money? Hopefully not, I briefly offered my 14060 for strong money but not top money, I had lots of interest and the only thing stopping me going through with a deal was the current lockdown and my reservation about selling such a nice watch.

    The CV situation will hit borrowed money like watches on credit cards, cars on PCP or those who sail close to the wind with their business, I owned a small business this time last year and one of the practices I employed was to keep over heads as low as possible and have a big cash float, I know in these current times that cash float would get the business through 4/5 months of bills..

    Going forward 3/5 years plus, CV will be strong in the memory for personal reasons, but I expect people to return to 95% they were before the pandemic, I feel Rolex, especially anything classed as vintage will remain strong over this time period along with some other classic watches.

    New inflated RRP Rolex is another story and something that has never interested me..
    Last edited by murkeywaters; 5th April 2020 at 10:33.

  28. #128
    Quote Originally Posted by Johnny.h View Post
    I myself have put a Tudor bb in for part exchange only last week and they offered me £635 as you can imagine I declined there offer and they lost a sale as well before they were owned by richmonte or subsidiary off,they were decent to deal with but not anymore.
    You think if they weren’t Lerner by Richmonte they they would be paying better prices today?

  29. #129
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    Sometimes all the valuation discussion makes us forget why we love watches...



  30. #130
    Master bokbok's Avatar
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    Quote Originally Posted by ac11111 View Post
    Sometimes all the valuation discussion makes us forget why we love watches...


    I agree with you I love watches

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  31. #131
    Quote Originally Posted by ac11111 View Post
    Sometimes all the valuation discussion makes us forget why we love watches...

    Very true and a lovely Coke
    But if we didn’t talk valuation, prices and market some people will have nothing to talk about.

  32. #132
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    Quote Originally Posted by ac11111 View Post
    Sometimes all the valuation discussion makes us forget why we love watches...


    Cannot agree more.. I loved them all the same no matter what someone thinks it’s worth. It seems like people love them for different reasons as In people “dodging a bullet” if the value isn’t heading north! Lovely shot of the coke buddy one of my favourites!


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  33. #133
    Master murkeywaters's Avatar
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    Quote Originally Posted by ac11111 View Post
    Sometimes all the valuation discussion makes us forget why we love watches...l
    While we all love watches after all that’s why we’re here, there is a lot of watch lovers (and other hobbies) that can’t be patient and work their way up the hobby, credit is then used to fast track their journey.

    For me it has taken years going up through the ranks to a level I thought I would never get too, in all this time I have learnt a lot and understand why I have spent so much and don’t regret any of it (not yet anyway).

    I’m sure lots of us in the past have looked at beautiful images of dream watches and thought about borrowing to own that watch, but getting to that watch overtime with hard earned makes it much more special.

    I do feel for people who will lose out in this pandemic, but sometimes life throws a leveller at us, all you can do is just try and come back stronger and wiser!

  34. #134
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    I have to confess, that is not my picture although i do own a nice 16710 with a coke bezel. Picture popped up on Instagram.

  35. #135
    Quote Originally Posted by Billy4389 View Post
    Cannot agree more.. I loved them all the same no matter what someone thinks it’s worth. It seems like people love them for different reasons as In people “dodging a bullet” if the value isn’t heading north! Lovely shot of the coke buddy one of my favourites!


    Sent from my iPhone using Tapatalk
    I love all my watches and they certainly weren’t bought as investments
    But at the end of the day we all like a good deal ,so looking back ...Buying a Daytona late last year looks about the worst time I could have bought one
    Any falls in price won’t affect me as I’m not selling or buying but merely being realistic

  36. #136
    Quote Originally Posted by shoppy View Post
    I am planing to go on a buying spree and buy the pieces I like and that I wish I had not sold after the shops open.
    As one thing this pandemic has reminded me is that life is short and I would much rather enjoy the watches I want rather than wait. Also money in the bank is making nothing.
    Yep, if i can cover my bills/food ,then I fancy getting a few more.

  37. #137
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    Quote Originally Posted by RAJEN View Post
    Very true and a lovely Coke
    But if we didn’t talk valuation, prices and market some people will have nothing to talk about.
    Hmmm...but emphasise 'Some'. This forum seems split between those who see watches purely as investment objects, and those who actually are interested in, and enjoy wearing, watches.

  38. #138
    Quote Originally Posted by MrGrumpy View Post
    Hmmm...but emphasise 'Some'. This forum seems split between those who see watches purely as investment objects, and those who actually are interested in, and enjoy wearing, watches.
    There’s probably a big crossover of people that love watches but are mindful of their value, like to change watches often etc.

  39. #139
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    Quote Originally Posted by MrGrumpy View Post
    Hmmm...but emphasise 'Some'. This forum seems split between those who see watches purely as investment objects, and those who actually are interested in, and enjoy wearing, watches.
    And there will be plenty like me who buy to wear but also buy to pack away for a rainy day.

    No particular group are in the right .

  40. #140
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    I had a bit of a panic w/c 23rd March when it became apparent that the world had changed and that any one of us could potentially die from Covid-19. I don't usually wear my 2018 BLNR but in light of this current reality I put it on that day and I pretty much haven't taken it off since. I get such pleasure from it and I'm very grateful for owning it at this time. I am far from wealthy but I bought it brand new from an AD at rrp using money that I could afford to not rely on. If there is a sharp downturn in the market, and lets face it it looks very likely, then so be it and in the scheme of things it really doesn't matter. If the right 4 or 5 digit GMT comes along I may well make a purchase provided my finances are able to bear it as a potential loss. It's not necessarily people who paid over rrp that might have a problem it's anyone who bought a watch that they couldn't really afford, be that at over rrp or otherwise. I do feel for those people but buying luxury stuff that you can't afford was never a great idea even pre-global viral pandemic.

  41. #141
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    I always have regarded money that i spend on chattels, be they watches, cars, clothes, bicycles, electronic gear, to be money that is lost and gone forever. Sadly there are folk who seem compelled to, as the saying goes , "fart higher than their a-hole", and fell for the "this watch will only increase in value" bs.
    Witnessed a similar thing locally with the property boom and the 2007 bust in NI. The market had recovered to I would guess around 60 percent of 2007 prices, and that was before the country's lockdown. It will be interesting to see where watch prices end up.
    If anyone has a white dial Daytona they want to move on I will take a chance on it, at the right price.

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  42. #142
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    I guess the real snag for people who are worried about values is the question of market expectations - (almost) no-one will buy a watch now if they think prices are falling or are going to fall as it will probably be cheaper to wait and buy later. And this of course becomes self fulfilling as people hold off purchasing, so demand falls and prices fall as well. The only question is recognising when the floor has been reached.

    I'm no market guru (see how my investments have crashed!), but there is a saying that you don't make a loss until you sell. So I guess the idea is to hold on tight for now if you can.

    My guess is that whilst this may burst the recent mad bubble of prices, I don't think I'll be able to pick a Rolex Submariner for a few hundred quid any time soon! I guess prices will decline from the utterly insane to the merely exorbitant.

  43. #143
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    Well that was a interesting read although far too much doom and gloom.

    I personally think we have another 4-6 weeks of lock down where nothing is moving cars houses watches etc.

    Business will then reopen people and business will take another 2 months to get straight and we will all crack on.

    Business built on fantasy will fail the deck will shuffle and fall into a new order.

    Maybe I am being too optimistic we were flying six weeks ago.

  44. #144
    I think the same as the last poster. This is arguably worse than 2008 but the difference is quite a few Governments around the World have acted quickly to avoid a repeat.

    The end result will be an economic slow down, likely a recession but not the economic armageddon that is being talked about.

    A drop in watch prices, especially the over priced and overhyped ones is inevitable, just based on the uncertainty of the situation. I think that some people will be overstretched and end up selling whilst prices are down but the majority will be neither selling nor buying for the next few months. Unless forced to, why sell at the bottom of the market? When life resumes prices will be more sensible but not bargains.

  45. #145
    Grand Master MartynJC (UK)'s Avatar
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    Quote Originally Posted by Sonos View Post
    Well that was a interesting read although far too much doom and gloom.

    I personally think we have another 4-6 weeks of lock down where nothing is moving cars houses watches etc.

    Business will then reopen people and business will take another 2 months to get straight and we will all crack on.

    Business built on fantasy will fail the deck will shuffle and fall into a new order.

    Maybe I am being too optimistic we were flying six weeks ago.
    I really hope you are right. Though there is talk that the world will never quite be the same again.

    As far as original topic about WF not wanting to buy the premium watches - they would probably buy any rare watch - just not the mass produced Rolex - I guess they are overstocked already.

  46. #146
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    I dont care if the market value of my Zenith or IWC goes down I bought them as I like them and to wear them.



    But I do regret buying a recent watch from SC purely because it seems wrong to me to be buying frivolous things at this time.
    Nothing wrong with the watch of course, I just feel very guilty when people are struggling.



    no comment on Rolex as its all been said.

  47. #147
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    Quote Originally Posted by ~dadam02~ View Post
    They are a business I get that, but I can't help but feel they are targeting the vulnerable and desperate. It's pretty disgusting.
    They're not targeting anyone, are they? Potential sellers are contacting them not the other way round.

  48. #148
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    Quote Originally Posted by MakeColdplayHistory View Post
    They're not targeting anyone, are they? Potential sellers are contacting them not the other way round.
    Very true and they and others will no doubt capitalise on that but when your part xing your buying as well
    So in my opinion prices need to reflect that.

  49. #149
    Master Alansmithee's Avatar
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    Jul 2013
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    Quote Originally Posted by Sonos View Post
    Well that was a interesting read although far too much doom and gloom.

    I personally think we have another 4-6 weeks of lock down where nothing is moving cars houses watches etc.

    Business will then reopen people and business will take another 2 months to get straight and we will all crack on.

    Business built on fantasy will fail the deck will shuffle and fall into a new order.

    Maybe I am being too optimistic we were flying six weeks ago.
    Six million people filed for unemployment in the US in just over a week. Our figures are going to be equally awful (we do our figures on a much slower basis) - many of the jobs people had simply do not exist as their companies go to the wall.

    At this moment, hundreds of thousands are heading into a debt crisis because they cannot pay their rent or people cannot pay them.

    The idea that everything economically will return to normal after two months after lock-down is pretty fantastic....

  50. #150
    Master
    Join Date
    Feb 2013
    Location
    Edinburgh
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    I’ve exchanged emails with Watchfinder about a watch I was thinking of buying (not a Rolex or PP). In fairness to them, they offered £300 off the list price and I don’t think the watch was overpriced to start with. In the end I decided not to proceed. The sales advisor I was dealing with accepted that outcome with good grace and didn’t attempt to cajole me into changing my mind.

    People may or may not have a good opinion of Watchfinder, but at the end of the day it has employees who work hard and rely on their wages just as we all do. I’ve no time for Bright House, however I feel for the 2000 plus workforce now faced with redundancies. Debenhams next. These are worrying times indeed.

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