Watchfinder do they not want to buy Premium watches ?

[Sonos]

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....

Debt crisis is probably true people need to be careful. I am thinking that everything is frozen and we will hit the defrost button which will take a few months to return. Life will go on, it’s amazing how you can tighten your belt when the pressure is on.

[Satori]

I don’t see the problem with that offer at all. A trade bid of 60% of rrp for the cash purchase of a 2nd hand watch is normal; generous if anything in the current climate.

Yeah, yeah I know it’s one of the ‘special’ Rolexes that are part of the new tulip bulb hype but we all knew that wasn’t going to last. Hopefully that tiresome nonsense is over for ever.

[taz11]

I was offered the same quote for my 126300 datejust so that to me suggests its computer generated and they are not buying anymore.

[Alansmithee]

Debt crisis is probably true people need to be careful. I am thinking that everything is frozen and we will hit the defrost button which will take a few months to return. Life will go on, it’s amazing how you can tighten your belt when the pressure is on.

If you think you can fix this with "tighten your belt":

https://www.gifng.com/wow/73953/?fbc...0rCCMnlBrhA3KA

[geoffcotton]

So recently over last year or so watchfinder offers you don't hear much about sales in threads etc....
So I sent an enquiry yesterday regarding new batman unworn and to my surprise the offer so think we can safely say we won't see watchfinder offered me a great price of



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It’s a sh18t offer mate, WF are just stocking up where they can on watches, from vulnerable people. It’s a bad time to be selling any luxury items from houses to watches.

I know for a fact that they had at least 50 Batman’s a few months back.

In 18 months the luxury watch market will be back, we just need a vaccine and people back at work.

There’s one thing for sure The supply of sports Rolex watches will be even more impossible to source in the near term.

[julian2002]

Is it taking advantage? Obviously in one way yes it is, but it's also the bedrock of capitalism to: buy low, sell high and to let market forces dictate price. This is the society we live in and if you are sitting on 10k tied up in a batman and after a month of no money coming in need to sell at a profit then it's moved into the realm of imprudent money management and possibly mental inadequacy.

I'm in the lucky position of being, it seems, solely attracted to watches that are doomed to depreciate like a rock thrown off a cliff with a jato attached, crisis or no. Breitling, Eterna and Ulysse Nardin being my current likes, all of which are worth roughly bugger all of their RRP on stepping out of the AD, unless bought very cannily indeed.

[bokbok]

I don’t see the problem with that offer at all. A trade bid of 60% of rrp for the cash purchase of a 2nd hand watch is normal; generous if anything in the current climate.

Yeah, yeah I know it’s one of the ‘special’ Rolexes that are part of the new tulip bulb hype but we all knew that wasn’t going to last. Hopefully that tiresome nonsense is over for ever.

Laughable that

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[boring_sandwich]

In 18 months the luxury watch market will be back, we just need a vaccine and people back at work.

There’s one thing for sure The supply of sports Rolex watches will be even more impossible to source in the near term.

Do you honestly believe this?

[jonny]

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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I sold my BLNR to watchfinder about 5 years for £5,500,cant remember exact list but I think it was somewhere between £700-£1,000 below list.Then prices went wild and as grey dealers started offering more than list suddenly everyone wanted these Rolex sports models "to make money from"(a year earlier they weren't as in demand)

Grey dealers are now offering below list price for most Rolex sports, so its likely that most of the flippers and profiteers wont be wanting them anymore (surely great news!). So if its easier to get Rolex sports from agents then grey prices will fall. Luxury goods will get hammered /demand collapses in every recession(historically) and we will almost guaranteed have a recession in 2020 - so prices will fall. Surely good news as we are all WIS after all and not profiteers.

[thegobetween]

I was offered the same quote for my 126300 datejust so that to me suggests its computer generated and they are not buying anymore.

Or that’s just the trade buy in price currently?

[geoffcotton]

Do you honestly believe this?

Absolutely.

[robcuk]

I sold my BLNR back to Watchfinder last summer and made £3.5k on the deal (2 years of ownership in between)
Personally I think they are limiting their exposure ‘just in case’ the global financial crisis does happen.

[SteveM112]

We all know the true value of a New unworn BLNR is still around £10k in today’s market despite what you may think of the hype ..where it will be in 3 months time is anyone’s guess.
Will they ever be freely available at RRP no idea.
The WF offer is surprising even in the uncertain times we all find ourselves in...


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[kungfupanda]

I sold my BLNR back to Watchfinder last summer and made £3.5k on the deal (2 years of ownership in between)
Personally I think they are limiting their exposure ‘just in case’ the global financial crisis does happen.

I thought they just bought back at the price that they sold to you?

[murkeywaters]

Similar to an answer I put on another thread, Rolex is a word that can be split into two completely different scenarios going into this new era, you have watches that can be purchased new if your lucky on the waiting list and older watches that are not being made no more.

I personally think anything new above RRP will take a short to medium term hit, how big who knows? The 5 digit and older should hold well but I can see plenty of panicked sellers letting them go at a reduced rate in the short term..

[MB2]

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 thought this too, but spoke with one of my friends about the pent up demand for holidays. They felt that noone would want to get into a plane or go abroad and risk catching CV19 from someone or getting stuck there and felt it would need a vaccine roll out or diagnosis plus confirmation of immunity before things would change. Also cheap loans and govt subsidised employees are going to have to stop soon. Many businsesses have huge overheads and the measures by the govt are delaying rather than preventing problems - the storm will come when the VATcan no longer be postponed and landlords can take action for non-payment of rent.

[Hood]

Similar to an answer I put on another thread, Rolex is a word that can be split into two completely different scenarios going into this new era, you have watches that can be purchased new if your lucky on the waiting list and older watches that are not being made no more.

I personally think anything new above RRP will take a short to medium term hit, how big who knows? The 5 digit and older should hold well but I can see plenty of panicked sellers letting them go at a reduced rate in the short term..

I"m not so sure that the 5 digit stuff is completely dissociated from the 6 digit values.
For example if modern GMTs drop back to RRP would people still be willing to pay 8-9K for 16700 or 16710s
Similarly would they be prepared to still purchase a 14060M at 6-6.5K if the ceramic sub is RRP
No doubt the ceramic sports are the most overheated but i don't think either the 5 digit or 4 digit for that matter will emerge unscathed.

[murkeywaters]

I"m not so sure that the 5 digit stuff is completely dissociated from the 6 digit values.
For example if modern GMTs drop back to RRP would people still be willing to pay 8-9K for 16700 or 16710s
Similarly would they be prepared to still purchase a 14060M at 6-6.5K if the ceramic sub is RRP
No doubt the ceramic sports are the most overheated but i don't think either the 5 digit or 4 digit for that matter will emerge unscathed.

Well, if BNLR's, Hulks, Daytona's etc become RRP or below then yes I think the older references would take some reduction, but that would be a HUGE shift in the market though.

Again its all going to come down to AD availability, if its still hens teeth chance of getting these watches then the grey's will continue to demand big money, saying that, you still need the buyers, if they are not there then who knows where this could lead??

[Wallasey Runner]

Well, if BNLR's, Hulks, Daytona's etc become RRP or below then yes I think the older references would take some reduction, but that would be a HUGE shift in the market though.

Again its all going to come down to AD availability, if its still hens teeth chance of getting these watches then the grey's will continue to demand big money, saying that, you still need the buyers, if they are not there then who knows where this could lead??

There have been waiting lists for a steel Daytona for example for over 30 years now, inc the banking problems of 2008. Do we think it likely that after all this that trend is reversed. I would guess not personally. Sure the big bucks money will fall, but I wouldn't expect to see one in a window any time soon.

[Alansmithee]

Last week the US unemployment rate hit a record Five and a half million (an increase of five million), today it is expected to increase by another six million. God knows what ours will look like at the end of the month.

[Rodder]

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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Am I missing something. You don’t want to sell but requested a quote and are discussing the resale price?


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[beechcustom]

Last week the US unemployment rate hit a record Five and a half million (an increase of five million), today it is expected to increase by another six million. God knows what ours will look like at the end of the month.

I certainly don't want to talk up an economic collapse but it's hard to ignore what you are saying. Any notion that luxury products will only take a small hit in the months ahead is extremely premature to say the least.

[bokbok]

Am I missing something. You don’t want to sell but requested a quote and are discussing the resale price?


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Read the previous posts answered this!

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[ac11111]

I don’t find the premiums over retail for 6 digit Rolex sports too outrageous relative to nautilus 5711s are 23k from AD and at least 50k at pre owned dealer.

[Kash]

Well the good news is these premiums will keep falling, on steel Rolex and patek. It was happening last year even before covid and the recession that will follow.

The world was in better shape 3 years ago and we didn’t have this madness. There are a lot of people who think things will carry on forever, just with every bubble.

Greys already know and feel this shift. The last thing to change is the advertised price.

[ac11111]

Well the good news is these premiums will keep falling, on steel Rolex and patek. It was happening last year even before covid and the recession that will follow.

The world was in better shape 3 years ago and we didn’t have this madness. There are a lot of people who think things will carry on forever, just with every bubble.

Greys already know and feel this shift. The last thing to change is the advertised price.

I agree softening but 11k for 7k Rolex is a lot different to 50k for 23k Patek.

[Kash]

But I think this thread is about greys/wf not wanting them now. Which is true. Reason? They have too many and can see a change in the market. Same for the 5711 and all sports patek, they are all falling and dealers will price you low on them.

By year end I can see no premium on the regular stuff, subs/gmts and no real premium on patek sports except a smaller one on 5711/12 just my take

[Incredible Sulk]

But I think this thread is about greys/wf not wanting them now. Which is true. Reason? They have too many and can see a change in the market. Same for the 5711 and all sports patek, they are all falling and dealers will price you low on them.

It's not just that. It's been said on the thread already, but I'll repeat it, the first rule of any company at the moment is do what you have to to survive. Which means conserving cash. WF have some big inventory numbers that they have to finance, and large fixed overheads. I don't know how much their sales have been affected, but I'd suppose quite a lot, so not a lot of cash coming in.

If its true that they have dozens of BLNRs as said by a previous poster, I'm surprised they are making bids at all.

[kultschar]

But I think this thread is about greys/wf not wanting them now. Which is true. Reason? They have too many and can see a change in the market. Same for the 5711 and all sports patek, they are all falling and dealers will price you low on them.

By year end I can see no premium on the regular stuff, subs/gmts and no real premium on patek sports except a smaller one on 5711/12 just my take

Yup.

I see watch club have a 5712 new for 55K. These were listed around 70k not long ago

[Damo]

Everyone will have their own opinion and the consensus is that prices will fall but to what level only time and the market will dictate.

There are only 2 Rolex's I'd would even think about getting and the only way that will happen is if prices fall considerably and secondly if I still have a job at the end of it and money available to buy it.

[taz11]

Or that’s just the trade buy in price currently?

That was the buy in price from watch finder so must be system generated

[robcuk]

I thought they just bought back at the price that they sold to you?

Nope, bought at just under 7, sold back at 10!

[Devonian]

Maybe with all this going on, people will go back to buying watches that they like and will wear instead of primarily thinking about the resale value or potential profit. Some of those watch groups on FB the main question asked was always about ‘will this go up in value?’ In a way you can’t blame people but it’s just a bit sad that the monetary value seemed to overtake the ‘watch’ itself value.

[bokbok]

Well the good news is these premiums will keep falling, on steel Rolex and patek. It was happening last year even before covid and the recession that will follow.

The world was in better shape 3 years ago and we didn’t have this madness. There are a lot of people who think things will carry on forever, just with every bubble.

Greys already know and feel this shift. The last thing to change is the advertised price.

I agree will keep falling as folk still need to buy them at premium levels they will never get to under Rrp but to more sensible pricing. As clearly biggest pre-owned buyer and seller in country is offering low prices to buy in on a lot of premium Rolex's

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[mmgg1988]

I seem to be getting increasing numbers of emails from WF, the last one containing this gem:

"With manufacturing output put on hold and with brands like Patek Philippe delaying new watch launches to next year, many models will become even more scarce and difficult to find without waiting years for availability. "

Obviously means I should rush and buy a Hulk/BLNR/Nautilus/insert other in demand watch from them immediately! Or perhaps not...

[Neil.C]

Maybe with all this going on, people will go back to buying watches that they like and will wear instead of primarily thinking about the resale value or potential profit. Some of those watch groups on FB the main question asked was always about ‘will this go up in value?’ In a way you can’t blame people but it’s just a bit sad that the monetary value seemed to overtake the ‘watch’ itself value.

That's just radical thinking.

[Flasher]

I seem to be getting increasing numbers of emails from WF, the last one containing this gem:

"With manufacturing output put on hold and with brands like Patek Philippe delaying new watch launches to next year, many models will become even more scarce and difficult to find without waiting years for availability. "

Obviously means I should rush and buy a Hulk/BLNR/Nautilus/insert other in demand watch from them immediately! Or perhaps not...

I feel we will be seeing a lot of “ With manufacturing output put on hold and with brands like Patek Philippe delaying new watch launches to next year, many models will become even more scarce and difficult to find without waiting years for availability” on selling posts and dealer windows. Sounds a bit desperate to be honest especially with the nearly 6000 GMT’s on Chrono24 alone currently.

[Andyg]

Maybe with all this going on, people will go back to buying watches that they like and will wear instead of primarily thinking about the resale value or potential profit. Some of those watch groups on FB the main question asked was always about ‘will this go up in value?’ In a way you can’t blame people but it’s just a bit sad that the monetary value seemed to overtake the ‘watch’ itself value.

Fingers crossed.

[kungfupanda]

Given that sales on SC usually refer to the marvellous offer they have just received from WF, wonder if they will be so keen to make reference to WF now. Should make future pricing interesting.

Seems like they’re referring to the “marvellous” prices WF are selling at rather than buying at nowadays.

[boring_sandwich]

One thing for certain is that watches do not seem to be moving very fast.

Take SC for example which has seen far more Rolex SS models advertised recently than over the past few years and most of them are just hanging around and even being reduced.

I can see prices back around what they were in 2015-2016 which has to be a good thing for people who actually want them to wear and enjoy.

[kultschar]

I got a email yesterday from watchfinder advertising "discontinued watches"

I guess they really are trying hard to make some sales

[bokbok]

One thing for certain is that watches do not seem to be moving very fast.

Take SC for example which has seen far more Rolex SS models advertised recently than over the past few years and most of them are just hanging around and even being reduced.

I can see prices back around what they were in 2015-2016 which has to be a good thing for people who actually want them to wear and enjoy.

cannot see prices coming down to 2015 / 2106 as was different world to now. you could walk in a shop and get one at discount.

plus all grey dealers got they from EU discounted. unless loads start coming for EU cheap and can walk in a shop and buy one then cannot see it happen think premium models will come down a bit more sensibly priced

but who knows really

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[Flasher]

One thing for certain is that watches do not seem to be moving very fast.

Take SC for example which has seen far more Rolex SS models advertised recently than over the past few years and most of them are just hanging around and even being reduced.

I can see prices back around what they were in 2015-2016 which has to be a good thing for people who actually want them to wear and enjoy.

“One thing for certain is that watches do not seem to be moving very fast.”

No doubts on the above. Noticeable increase on all watch forum sales pages of Rolex SS, Patek, Audemars etc all being bumped every day by sellers and even with price drops very few are selling. Add in all the Tags, Omega etc etc and the Secondary market is awash with pieces for sale, what hope for an authorised dealer trying to sell at RRP!

[Gareth-W]

“One thing for certain is that watches do not seem to be moving very fast.”

No doubts on the above. Noticeable increase on all watch forum sales pages of Rolex SS, Patek, Audemars etc all being bumped every day by sellers and even with price drops very few are selling. Add in all the Tags, Omega etc etc and the Secondary market is awash with pieces for sale, what hope for an authorised dealer trying to sell at RRP!

With the greatest respect to our host and being factual in the wider context....forums are a microscopic sample of any transactional landscape and that certainly applies to the watch market too.

[boring_sandwich]

https://youtu.be/gnpCDXqkQKg

[taz11]

Looking at prices they seem to be holding out by many greys till how long is anyone's guess

[~dadam02~]

Almost 6 weeks on, does the offer in the OP serm a decent one now?

[kaiserphoenix]

Honestly haven’t seen any deals as of yet....prices for watches like 5980, FPJ Ressonance, Daytona have basically stayed the same in some cases gone up!!

On the other hand we see prices for the majority of other brands taking a big haircut. I guess sort of like the stock market u can’t just label “watxhes” as one entity there will be winners and losers.

[Boss13]

Almost 6 weeks on, does the offer in the OP serm a decent one now?

Decent would be the wrong word IMO. I think there are plenty who would snap your arm off at RRP even in this climate.

Even for WF that is an extremely low offer, I am thinking, could it have been a mistake!?

[SteveM112]

Almost 6 weeks on, does the offer in the OP serm a decent one now?

Right Now there remains plenty of people who would happily pay Double the derisory offer from Watchfinder..despite what the mongers of doom are saying..what the future holds is anyone’s guess.


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