Has anyone else noticed that WF are no longer showing the retail prices of currently produced "desirable" steel Rolexes?
Instead they'e now saying "Beat the waiting list This watch has appreciated xx%"
With the caveat of :-
"† This appreciation is based on raw data. This data is not a prediction of future value and should in no way be treated as an inference or advice of any kind."
WF had around 1100 Rolex for sale last year and now it's in the 600's. The tides are unpredictable, but the bubble is being distorted.
All very strange. If it’s not intended to be a guide to future values, which nobody can predict, it shouldn’t be there. They also don’t explain how they come up with the percentages and where the raw data comes from. They have examples of the same watches, same year with b&p listed at different prices that have appreciated by different amounts. It doesn’t make sense and stinks of the sort of selling actions employed by dodgy tv jewellery channels stating that the real values are much more than the prices charged. Wouldn’t surprise me if they are a few complaints away from having to change back.
Perhaps the stock has been relocated to overseas shops (New York & Tsim Sha Shui) and therefore isn’t available for instant dispatch or viewing.
RIAC
“Everyone is buying” is more like it at the moment. Plenty of cash sloshing around, people have had nothing to spend it on and they have been able to defer VAT and tax bills.
There will be a reckoning, but it ain’t happening just yet. My stocks have never been lower.
I part ex'd two watches with Watchfinder on 14th March, just before everything shut down. Out of interest during lock down, I kept looking to see when they went up for sale and for how much. They have only gone up for sale in the last week and as has been said their stock for sale as steadily dwindled from March with around 1100 Rolex down to 673 and Omega down from around 500 to 300. Their Pre Sale stock has steadily risen over the past four months, so I suspect their service centre has been closed until quite recently and only now making inroads into the part-ex stock for pre-sale "inspection". Of the two watches I part-ex'd one that I got £4.4 for is up for £5.6k and the other £4.5k is up for £6.9k!
Same here; awful company just shifting ‘product’ . Bought from then once, my mistake. Never again.
I’ve sold to WF a couple of times and they were fine. Don’t think I’d want to buy off them to be honest.
My brother has just sold 3 watches to a local dealer and been given really good prices on all of them so it does seem the market is fairly buoyant right now.
As H said there will be a reckoning to come - for now everything is being propped up.
For balance I bought from them last year and it was completely hassle free and pleasant tbh. Market rate for the watch and even got some extra goodies (I also asked for extra links and got them)...
I appreciate this may not be everyone's experience.
Never been a fan of watchfinder, grey market dealers at their worst
Not sure who at WF came up with this idea and somehow thought it will sell more watches. Just emphasised the ludicrous asking prices from WF and the fact that nearly all of the rest of the stock has depreciated in value. When they state “Appreciation”, it is probably more in relation to their mark up %.
Would be nice if they also informed buyers paying their inflated prices just how much supposed asset depreciates if they sell it back to WF in a few months or year.
Why anyone would purchase anything from Watchfinder is quite beyond me