Reply With QuotePlatinum Daytonas also seem to have jumped from c.£50K on reseller sites like WF, to over £80K.
The list price is now £29,350.
In 2019 they were £26,750 retail.
After the John Mayer Talking Watches video on Hodinkee for some time dealers were offering circa £34,000 and selling for circa £40k.
I was chatting to a friend today who mentioned a dealer had offered him £55,000 for a green dial ref 116508 and would buy as many as he could source-
which evidently was none!
This sounded a ridiculous jump in value in a very short period of time but a quick scout online showed these prices:
I knew the 5711 had gone mental in value, but for the Ref 116508 Daytona to suddenly leap up around £20k seems ridiculous.
Can any of the expert dealers on this forum shed some light on the reality of the current market ?
I’ve never previously posted a Rolex value thread.
Platinum Daytonas also seem to have jumped from c.£50K on reseller sites like WF, to over £80K.
Yeah as above, not just the 5711 shooting up.
If I were a betting man, I’d buy a 16528 or two in good nick... you can buy nice ones for late 20s to mid 30s it seems... plain dials, not diamonds.
That’s little more than steel 16520s - for a much rarer, solid gold watch + bracelet. Zenith Daytonas continue to generally rise in price... and the gold classic Daytonas are six-figure watches & quite rare.
£45/50,000 is probably only a Hodinkee post or Talking Watches episode away.
(I am not a betting man, spare cash of that sort would go into property or a tracker fund/Apple shares but...)
Last edited by Dark Side of The Loon; 1st April 2021 at 09:06.
They went up as soon as Meyer declared them to be a "sleeper"
Supply got less as people snaffled, drove the price up more to where we are now although there are additional rumours circulating about it being discontinued so the market is in hoard mode. Realistically ive seen them go for late 50-60.
I work at an AD and we take requests on this watch, circa 1 year wait list, no previous buying history required. Chrono24 pricing is like eBay pricing, not really indicative of actual market value across the globe. This is giffen goods, so for some the difference between 30 and 50k is neglible.
Overall this is a good sign that the Rolex programme of raising its brand image is working. If you want a Rolex, you are going to have to pay for it.
YawnOriginally Posted by Mick P
I don’t think this is a giffen good...
A Giffen good is a low income, non-luxury product for which demand increases as the price increases and vice versa. A Giffen good has an upward-sloping demand curve which is contrary to the fundamental laws of demand which are based on a downward sloping demand curve.
I think you may mean Veblen but using that term with Rolex usually gets people hot under the collar here ...
You can yawn all you want but the inescapable fact is that prices have risen over the last few years and this is good for everyone except cheapskates who bought a Rolex at a discounted price and then when it plays up due to not being serviced takes it to some back street repairer for a bodge up job.
Keeping prices high and with parts restricted to a chosen few, Rolex will attract the right sort of customer and if you don't like that, then tough conkers.
I have no idea which AD you work for but in my experience there is not a waiting list for this watch.
My buying history with my usual Rolex AD shows I’ve put over £200,000 their way in a fairly short period of time
and yet the last time I contacted them for a desirable model it was made clear it’s no longer happening- unless I buy
lots of jewellery.
So I find it hard to believe a green Daytona would be sold to any punter with no buying history!
Yawn. Change the record. Don’t you get bored spouting the same stuff constantly and incessantly?
Goes to prove they’re not trying to keep desirable watches with watch enthusiasts - they’re just trying to squeeze the wealthier clients for as much cash as they can. £200k and they insist you buy jewellery? You’re being taken for a mug and deserve better with that kind of spend.
Based on that nonsense WF is cheaper and probably the smarter way to go long term.
People complain about grey dealers but this thing with Rolex valued above RRP must be a money launderers wet dream come true.
I wonder how big part money laundering is in causing shortages.
Or just don’t bother and buy a better watch for the money. I had one of these when they first came out, bought it for a discount and tbh it didn’t get worn out the house. I can’t think of a better watch to get mugged for. It’s all out and out bling, which these days is likely to get you injured or worse.
You'd have to check the auctions for that.
I haven’t personally spent £200k - a fair chunk of that includes friends who I took to the store and they subsequently bought some expensive watches.
In the AD’s defence they did sell me with some blue chip models such as a steel Daytona, Pepsi, Hulk etc etc-
But- those days are gone.
Price inflation aside for a sec, what an ugly looking monstrous carbuncle of a thing. Also it's just so tragically unsubtle, screams mug me, tbh if you mince about in that you almost deserve it, lolz, they'd be doing you a favour taking it off your wrist.
Last edited by Passenger; 4th April 2021 at 11:25.
Yup.
On a side note, I only just realised for the first time that your avatar isn’t a cowboy hat, as I always assumed it was! Nor a pair of upside down pants. I think it’s a fancy designer chair?
lol
I always thought it was a cowboy hat
It's an Albatross Armchair, by designer Danielle Forty and artist Airborne.
According to Google anyway
‘The right sort of customer’ being who exactly? - do you mean rich people?
Sent from my iPhone using Tapatalk
Why is Chrono24 being quoted? As mentioned it’s like eBay prices - both not very realistic.
Last edited by MartynJC (UK); 5th April 2021 at 14:28.
I remember seeing this Watch in the window of DMR before the prices went crazy, £22k or thereabouts as I recall. It had always looked good in glossy promo shots, but looked bloody aweful in the flesh. I thought at the time no wonder it's in the window, they can't sell it.
Then again, the unpopular stuff are usually the ones that gain the most value.
I agree some of the Chrono24 prices being asked seem absurd-
but as stated in the op dealers are offering £55k -which at £25k over list is ridiculous
Always the way, the stuff no one wants becomes desirable.
Happens in footwear i noticed. Sale rack fodder and then ten years later its commanding treble figures.
I thought after 10 years all undesirable footwear became ‘new” stock in TK Maxx.
I got offered a brand new one from my regular AD a few years ago , turned it down because I didn’t like it.
Didn’t buy a Platinum Daytona at £23k years ago as I did thunk it was worth the premium over the steel model.
With hindsight.....
Not sure Rich people even give Rolex a look at these days, they have all moved on to brands which anyone with a credit card could not afford.
And subsequently makes it’s way on to SC...
Yes I firmly agree with you and it is obvious that Rolex are trying to move into that market. They suffered from having to give a discount on nearly every new watch that they sold a few years ago and grey dealers were also cutting prices and it was becoming a race to the bottom. The Rolex brand image was taking a nose dive.
Today they want someone who walks in, buys the watch at the RRP and walks out without a care in the world. He will also be the person who brings it in every five years for a service and would not dream of going to an independent. If you want a new watch today, it is a grey dealer job at a marked up price. This is precisely what Rolex want and you cannot blame them for that.
You'd be surprised
I had the ‘sister’ partner of the 508.....the 116509, which is white gold with a deep blue dial. Far more handsome, but not as fashionable. The obsession with price is depressing.......
So this is still on Rolex's website now - which means it has not been discontinued ..?
Still on website
yep Green lives.....let's hope the speculators did not sweep them all up last month and now lose their shirts...
Or possibly be removed from website later today
It will be interesting to see what this goes for-
Can’t beat an auction for true market reflection:
https://www.watchcollecting.com/for-...ith-green-dial
Auctions can be a very poor reflection of market norms.
Thickos who don't realise there is a buyer's fee or struggle with percentages, hysteria-jockeys, people who use Watchfinder as a price guide, non-paying-bidders having a laugh or high on smack fresh from the ass-cheeks of a hoodie on a black mountain bike, technical problems, poor listings, bad timing and proximity to pay day / tax deadlines / Christmas, shill bidders, over-excited bidders, competitive bidders, market-makers, shocking reviews on Google because of a hideously faked-up DRSD scandal and many more factors can all produce crazy results, both too high and too low.
The legal concept that auction is a fair test of market value should increasingly be challenged.
Furthermore, with auctioneers' fees often now exceeding 40% of the total amount paid by the buyer (especially where absolute sale values themselves have consistently risen above inflation), it's a market which seems ripe for challenge.
H
Last edited by Haywood_Milton; 20th April 2021 at 11:01.
Some of the fancy auction houses do have such ridiculously high buyers and sellers fees I’m surprised anyone uses them.
This Collecting cars/ collecting watches company have a 6% buyers fee (min £600) and that’s it.
They’ve sold over £80m of cars in no time so obviously something is working.
Seller in Glasgow and warranty card dated 21/11/2020It will be interesting to see what this goes for-
Can’t beat an auction for true market reflection:
https://www.watchcollecting.com/for-...ith-green-dial
Wouldn’t have thought the seller would be difficult for any AD to track for that particular watch.
Sent from my iPhone using TZ-UK mobile app
Very fair but what according to you is a fair market value for this watch?
Wow, the most pathetic post I've read in a long time.
Maybe it's time to start caring about what people think about the things you say, rather than the things you own.
Last edited by watchcollector1; 20th April 2021 at 20:35.
Yes, I too would like Haywood’s opinion on market price for this model
Tried to reply earlier in the day but the forum seemed to be having a wobble.
I don't believe there is a stable market value for these at the moment, only occasional incidents of agreement where a desperate buyer is prepared to go anywhere close to the crazy pricing.
I am entirely unconvinced this is a sustainable market, wherever it sits above RRP. The green 116508 is one of a number of models, especially precious metal professional ones (such as W/G GMT-Master meteoriite and W/G Yachtmaster) which I am generally declining to offer on at the moment.
A number unsold from £62,000 on C24 would suggest selling prices below £60k, but I would be very concerned that hype alone supports anything even close to that, rather than a sustainable market of sufficient buyers to keep it there.
Last year saw a deluge of cash looking to find a home. It continues to some extent while spunk-money from abandoned fancy holidays is diverted to other treats, but these financial anomalies will end.
A strong "avoid" from me, but I may be underestimating the number of Insta impressionables with curiously or questionably large spending power.
Last edited by Haywood_Milton; 20th April 2021 at 23:48.
It does currently appear an odd market- as you say there’s a number unsold at 62k.....but getting one from an AD at retail price is virtually impossible - I suppose
over time they will reach their normal supply vs demand grey dealer price.......
Thanks, HM
Worth remembering that quite a few watches get bought because people like them .....not to speculate. For instance, the YM 42 has been mentioned, but I doubt there’s any real profit in that. People buy them to wear and enjoy. That’s what watches are for....enjoyment.A few models, such as the green/gold Rolex, get wildly inflated, but they are not the norm.
There must be others, like me, who dislike the whole situation, and simply stop buying until things regain some sanity. Watches as a stock-market are unattractive.
I read that Bounce Back Loans have been used to buy Rolex watches, hence the spike in prices. However, could only find this:
https://www.thisismoney.co.uk/money/...ers-claim.html
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