All well and good while you have the option. Clocks ticking on that option now, and for how long it ticks we don’t know. I certainly won’t be isolating myself all the time I’m healthy, but I won’t be spending money on anything I don’t really need until things are clearer. And I thought Brexit + Corbyn would be a disaster for the economy...
Thanks verv that’s a very nice gesture
I wish you and everyone else the best of health also ...
As they say health is wealth
On a slightly joking note , I’m well prepared on the food front
I’ve got 6.5k in the bank as goldsmiths wouldn’t sell me a watch
Apparently I didn’t fit the criteria of being a friend/family or grey backhand dealer
Whatever happened to the customer always being right ?
Now with the Coronavirus black swan and everything that will come with it .Goldsmiths no longer fit my personal criteria unfortunately
Watch shopping and luxury spending will be the last thing on my and most people’s mind for a long time to come I believe
Let’s face it greys and Goldsmiths have had it easy and made hay it’s sensible to put money away for such times
Last edited by speedypro1111; 14th March 2020 at 19:11.
Perhaps it is. The person I replied to seemed happy that watch values would fall, as it would affect the 'investor' buyers. My point was it would affect the value of genuine enthusiasts watches as well. Personally I'm not bothered, I write off any money I spend on watches anyway.
Started out with nothing. Still have most of it left.
Can't say anyone has ever looked down their nose at us when we've been in their shops spending on watches and jewellery. The local shops we use the most know our names and seem very polite and friendly. (yes I know they want to sell something!) Perhaps they don't see you as a regular customer.
Also a lot of people would lose their jobs, which is hardly something to wish for.
Started out with nothing. Still have most of it left.
If you think that the supply of Rolex is difficult now just wait till the factories are all closed for months!
Goldsmiths have been very helpful to me. Bought three Tudor’s from them
Working for a Rolex AD there's already clear signs of a slowdown... naturally the "china" brands drop first, the Blancpains, Breguets, Cartiers etc are gathering dust in the cabinets... in the Rolex cabinet on display, immediately available, is DSSD black, Yachtmasters of all variants, including white gold, PM daytonas, Milgauss, Air King etc... I suspect in the coming weeks we'll see Explorer 1 and 2, Sub nodate etc...
The knockon effects of people and companies losing cashflow, while banks start to restrict credit, will be huge... It stands to reason a lot of "rare" watches will show up for sale.
I have cash on hand and if the prices fall back far enough, I'm buying.
I’ve personally found Goldsmiths the worst
Grey dealers should go back to selling pre owned and gold they’ll still get by just fine
I’m not wishing anyone to loose they’re jobs to be honest but I’m hoping it solves the problems above
When you’re local smug Goldsmiths hasn’t got a Rolex to sell you but just over the road the pre owned specialist has a window full of new Rolex at double RRP
Something isn’t right and needs fixing it’s pretty obvious that Rolex is /was in its own little bubble
And also it’s pretty obvious also where the pre owned dealers watches are coming from
Unfortunately it looks like things are about to change drastically for all concerned
The plus side is me and many others being able to buy whatever watch takes our fancy
From a Rolex authorised dealer
And the once smug sales assistant being glad of the business
Last edited by speedypro1111; 14th March 2020 at 20:35.
To be blunt, I think at this moment no one is giving a Monkey’s arse about Rolex Supply or lack of. I do not think we will see the headline of Rolex shortage due to Coronavirus deaths causing prices to rise in secondary market, more likely fire sales as cash flow dries up.
I got the call to come and collect a harrods tudor black bay...I wonder....should I ask for a discount!?
Isn’t it almost entirely automated? - I’ve never believed there is any kind of real shortage. Unless I’ve got it wrong, most models run the same movement and I imagine it’s a flick of a switch and they can churn out more Submariner cases/less datejusts without a human being getting properly involved. I’m also certain they have lots of stock sat in storage which they can release if and when they need to. It’s called market manipulation.
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Coronavirus watch industry thread predictably very quickly becomes another Rolex supply / grey dealer pricing discussion ad nauseaum...
Probably nearly every manufacturer will have hundreds if not thousands of crates of boxed up models ready to ship out when desired and it probably looks a lot like the last scene in Indiana Jones Raiders of the lost ark when they open up the warehouse to put the ark away into storage, just row upon row of crates.
There will be job losses, people in sales will sell less, bonuses will dry up and overall people will struggle financially. How bad it turns out is anyone’s guess at the moment but one market that will see some form of decline is luxury goods. Watches included. I was going to buy quiet a special watch and decided against it because of the uncertainty. Multiple that by X amount of people deciding against spending.
I think most folk will be holding off for at least another four or so months before they are confident to go out and look at potential purchases without fear of catching anything !!!..
Anyone asked watchfinder recently for quote to buy and what they are currently offering for SS Rolex's ATM (Pepsi etc)? Be interested to know whether they have adjusted their buy in prices due to Covid19 and where they currently land?
Will anyone even want to buy a new sports Rolex when they're not going to be able to sell them immediately for s large profit?
"A man of little significance"
Well said, imagine been able to walk into any watch shop, see watches in cases, not been laughed at when you enquire about a watch, not have to hear about building up a customer profile in the shop and finally watching the sales person actually work for their Rolex or other hard to find watch sale...
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I don’t know how bad it’ll be, I think it’s going to get ugly. However for those who catch it early and recover not a lot will change I suppose.
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One side-effect is likely we will see brands that do not sell online start to do so as people stay away from shops.
Noticed this feedback on PH - third post down quoted.
https://www.pistonheads.com/gassing/...=1841950&i=620
Surprising correction if true!
They are not fooling me, cut them and they won’t bleed!
https://www.hodinkee.com/articles/inside-rolex
Glad I did not pick up the CHNR at list a couple of months ago. If the offer price of £8750 on the Pepsi is real, then the much less desirable CHNR will tank.
Not surprised by the Watchfinder offer at all. Pre-emptive strike. Sales prices will now start to fall on their website to make any sales.
Last edited by noTAGlove; 15th March 2020 at 10:51.
Be great to see 5 digit GMT’s back around the 4K mark!
Interesting that while they've dropped the buy price by 27-30% they've kept the buy price right up there at £16k pretending all is well with the market.
Well there are some grey dealers pricing at insane levels watchfinder being the main culprit, they are backed by Richemont which means they shouldn’t have liquidity issues.
Smaller dealers, particularly those with shop fronts will be harder hit, so they will reduce prices to protect themselves and this will likely be the first source of price softening.
Think private collectors largely buy as they like the watch, I would think this is not a great time to sell, then again some might have to sell due to personal circumstances unfortunately and if the demand on SC or grey dealer is not quite there, prices will come down in the private collectors market as well.
Smaller and independent watch makers will be hardest hit from all of this, lots going under most likely.
The large listed watch manufacturers like Swatch, Richemont Group and LVMH will probably just ride it out this year and I don’t see Rolex and Patek changing due to the coronavirus as they have a well established long term strategy.
It is because they’ve paid top money for their existing stock.
A hypothetical situation, but let us say they hold 500 Rolex watches which each see a price fall of £3,000.
That is a £1.5 million reduction in revenue. No wonder they are trying to keep their sales prices as high as possible for as long as possible.
They are pricing new stock at what they believe they can sell it for at a later date. So they are pricing the future sales price of a Pepsi at <£12k rather than £16k
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[QUOTE=RobDad;5351436]Got a life I'm afraid, not spending it reading Hodinkee articles
/QUOTE]
I'm sure you wouldn't waste a single second on any website if it proved you wrong. Better to spend that life on here pedaling mindless drivel.
[QUOTE=wileeeeeey;5351442]Oh did I say something nasty about the little boys trinkets? Grow up please - there are important things going on on the world. I’m wrong about a lot of things, and happy to admit it. It’s called being an adult. When those things are of zero consequence I couldn’t really give a monkeys tbh, but always surprises me when it upsets somebody with very thin skin. This place becomes less pleasant by the day.
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Perhaps you could forget the watch market and consider this, bumped into a pal of mine who runs security for events and all of Premier League and Twickers, Wimbledon, & Wembley.
No events, no money, all staff no work, debts mounting, then add the public transport that gets them there and those who feed and water them and you can see what’s on our doorstep!
The Boomer Remover has landed and The Reset button has been firmly pressed
Folks, I seem to see a lot of Rolex envy in this thread. Let me offer these gentle reminders:
Rolex don't have shareholders so they don't care about market turbulence because they don't have to deliver an ever rising quartlerly divided. They are also master marketeers so they have been well versed at manging supply to create demand for decades including during several major wars. This brings me nicely to my next point:
As somebody who has travelled for a lot of my working life, and into some dodgy areas on occasion, I know that the 3 things you can rely on to get out of a tight spot are the US dollar, the Swiss Franc and a Rolex watch. I'll leave you to figure out how tight spot might be defined.
Nah- you are entirely wrong. There have been flu pandemics before and they are not up there with world wars in their impact. You are being decived by a media intent on sensationalising everyhing, oddly, in order to monetise it.
We (as in all of us) can and will make it a whole lot worse if we panic and start reacting to the hyperbole suggested by "Boomer Remover" and similar inane soundbites!
Since this is a virus we need to acknowedge 2 simple facts:
You can't wipe it out, it's here to stay and that is all there is to it.
The population will develop immunity due to its expoure and that is the best control mechanism there is for the vast majority of virus' that we share the planet with.
...and that is from somebody in an acknowleded risk catagory (me).