Is it rude, unrealistic or both?

[amphr1]

I recently started to look at the for-sale section of this forum and found that folks are selling hot watches at grey market prices. Now having just sold a Tag Heuer to Crown and Calibre, I began to suspect certain things happening when selling watches in the secondary market. It's my suspicion that website like Chrono24 routinely value your watch way higher than it actually sells for. I think that if it was priced right, a watch would sell within a month or so of listing if the photos are professionally done, details are clear, and the seller seems trustworthy. And since Chron24 suggests a price, everyone takes that suggestion and list it at that price. If I see a Daytona selling at $37k, but it hasn't been sold for 2 months, that tells me that it's reasonable to offer to buy at less than the listing price. Am I rude to suggest a 20% discount from grey market price? Is it totally unrealistic? or both? After all, the way the trend is going, even if the watch currently have a real market price of $30k, by the 3rd or 4th month, the price would have risen to $37k level and get sold, assuming the current trend holds. Agree? Disagree?

[ratty]

Give it a try, the seller can only say no!

[JonaG]

Good luck getting a 20% off deal on a Daytona. Many Chrono24 sellers have a “suggest a price” option where you could propose an offer. I also think some sellers can simply wait 2 months or longer.

[amphr1]

Originally Posted by JonaG

Good luck getting a 20% off deal on a Daytona. Many Chrono24 sellers have a “suggest a price” option where you could propose an offer. I also think some sellers can simply wait 2 months or longer.

I suppose you are right, it can be seen as a 20% discount. But I can also say that instead of a 180% profit, they'd only be getting 130% profit, still a huge win in the case that someone purchased it from an AD, having worn it for a year, and didn't bond with it. But yeah I suppose it's not realistic. It's just that having been on the selling side, not as someone who sells watches regularly, but as a private seller, the waiting to sell is just as painful as waiting to buy. Some buyer go grey because they can't stand to wait so long, and I think some seller can't stand to wait to sell also.

[Runnin' Rebel]

Originally Posted by amphora001

I suppose you are right, it can be seen as a 20% discount. But I can also say that instead of a 180% profit, they'd only be getting 130% profit, still a huge win in the case that someone purchased it from an AD, having worn it for a year, and didn't bond with it. But yeah I suppose it's not realistic. It's just that having been on the selling side, not as someone who sells watches regularly, but as a private seller, the waiting to sell is just as painful as waiting to buy. Some buyer go grey because they can't stand to wait so long, and I think some seller can't stand to wait to sell also.

Are you saying dealers on TRF and other sellers on different sites are getting 180% profit ?

I’m pretty sure in most cases there’re at 30% profit and that is even kinda high. I don’t think there’s any way they are marking it up 180% from their cost. How’d that number come up, you can’t possibly know what they pay at the wholesale price.

[huncho]

Originally Posted by amphora001

I suppose you are right, it can be seen as a 20% discount. But I can also say that instead of a 180% profit, they'd only be getting 130% profit, still a huge win in the case that someone purchased it from an AD, having worn it for a year, and didn't bond with it. But yeah I suppose it's not realistic. It's just that having been on the selling side, not as someone who sells watches regularly, but as a private seller, the waiting to sell is just as painful as waiting to buy. Some buyer go grey because they can't stand to wait so long, and I think some seller can't stand to wait to sell also.

180% lol. their margins are 10%, maybe 20 but unlikely. also the ones that are priced high on chrono24 usually don't have the watch in stock. they put up a higher than normal price to fish for offers and if someone bites they go and get the watch knowing their margin before hand

you can always try to ask for a 20% discount but don't expect a reply

[OverGeared]

It doesn't hurt to be ambitious, but if your offer brings the price below the lowest listed price for the same model, I wouldn't get your hopes up.

[mquarter]

Part of the reason why C24 prices are on the high side is because the 6.5% listing fee + C24's foreign currency commission inflates it. And given the relative liquidity of Rolex I think asking for 20% less is ambitious, but it doesn't cost anything to try.

[amphr1]

Originally Posted by mquarter

Part of the reason why C24 prices are on the high side is because the 6.5% listing fee + C24's foreign currency commission inflates it. And given the relative liquidity of Rolex I think asking for 20% less is ambitious, but it doesn't cost anything to try.

Personally I'm going wait for my AD to call me =p

[amphr1]

Originally Posted by amphora001

Personally I'm going wait for my AD to call me =p

That's what I'd say, today. Ask me again in a few months, maybe the answer will be different haha

[28mm]

Maybe wait till after Christmas?

[padi56]

Originally Posted by amphora001

I recently started to look at the for-sale section of this forum and found that folks are selling hot watches at grey market prices. Now having just sold a Tag Heuer to Crown and Calibre, I began to suspect certain things happening when selling watches in the secondary market. It's my suspicion that website like Chrono24 routinely value your watch way higher than it actually sells for. I think that if it was priced right, a watch would sell within a month or so of listing if the photos are professionally done, details are clear, and the seller seems trustworthy. And since Chron24 suggests a price, everyone takes that suggestion and list it at that price. If I see a Daytona selling at $37k, but it hasn't been sold for 2 months, that tells me that it's reasonable to offer to buy at less than the listing price. Am I rude to suggest a 20% discount from grey market price? Is it totally unrealistic? or both? After all, the way the trend is going, even if the watch currently have a real market price of $30k, by the 3rd or 4th month, the price would have risen to $37k level and get sold, assuming the current trend holds. Agree? Disagree?

The only person you should ask is the person you want to deal with, and if you dont ask you will never know if they will except your offer price.

[deuxani]

What you can do with professional dealers is approach them outside of Chrono24 (most of them have a phone number, email or link to their website) and propose a 5% discount for buying outside of Chrono24. In some cases you can get even a couple percent more. But 20%? That’s a bit steep. But it never hurts to try. It’s definitely not rude. You say 20%, they say 5%, you say 10%, they say 7%, shake hands and both are happy

[bob sims]

Originally Posted by deuxani

What you can do with professional dealers is approach them outside of Chrono24 (most of them have a phone number, email or link to their website) and propose a 5% discount for buying outside of Chrono24. In some cases you can get even a couple percent more. But 20%? That’s a bit steep. But it never hurts to try. It’s definitely not rude. You say 20%, they say 5%, you say 10%, they say 7%, shake hands and both are happy

A good way to get burned.

[russeree]

Go ahead and shoot for the stars. You're gonna miss but the worst that can happen is they stop taking you seriously.

Being in sales people like you are good customers but honestly a PITA due to drama and friction to get a deal done.

Also with inflation as hot as it is there's no reason to he turning stock into cash unless the dealer can get more watches right away.

Also your going from TAG to Daytona.... two totally different watches in all respects.

Sent from my SM-G986U using Tapatalk

[Tikandtokalot]

Don't ask don't get you might just hit the right moment.
Be prepared to use discretion after deal and don't burn your bridge.

[WILLIWALKER]

The poster prices are never practical, 20% is quite possible.

[Sandpit]

Chrono24 prices are often MASSIVELY inflated, but it's a site that people wheel out as being factual prices.

I think what happens is there are a lot of dealers who are just chancers. They list a watch which they don't have in hand at crazy prices and if they get a buyer at their price they will source a watch.

[brandrea]

Private sellers generally don’t get what gray dealers do for the exact same watch. That said, the price you see is the ask, you can always make an offer.

Me personally would only sell the watch for what I want, so I’d make that clear in my ad

[Harry-57]

If you don't ask you don't get. Sellers expect to get knocked down so they factor in a margin which makes them look like they are doing you a favour when they reduce what they are surcharging. If someone won't come off their maximum market asking price, you know you have a time waster. They will probably see you as a time waster but that doesn't matter. You won't be buying their watch, and you can quickly move on to another seller.

Pricing a piece has to start somewhere and that somewhere will often be with reference to what the market is asking. But asking price is not necessarily selling price. You also have to factor in human nature, particularly the twisted logic that applies to something like a super hot Rolex model. If you are selling something significantly below market price people will assume there's something wrong with it. And because the buyer is likely to start below your asking price, you'll still get people expecting a discount on your discounted watch.

[garyk]

Frustrating times in the watch market.

[Cru Jones]

Chrono24 does not "value" or "suggest" anything. It's merely a platform on which sellers post their listings.

[OG1982]

Originally Posted by Cru Jones

Chrono24 does not "value" or "suggest" anything. It's merely a platform on which sellers post their listings.

Correction, Chrono24 does indeed give you an estimated value for watches on your 'Watch List' or those you've added in your own 'Watch Collection'. It trends the prices much in the same way (with less detail) a platform like Google Finance tracks stock and crypto.

[Laszlo]

Originally Posted by Cru Jones

Chrono24 does not "value" or "suggest" anything. It's merely a platform on which sellers post their listings.

OP might also be looking at the algorithm’s current and historical data where as both play a part in valuation. A price on a model could look inflated by unsold asking prices but wouldn’t be adjusted until sold, all the data is rolling and aggregated. That’s why you’ll see fluctuations daily on the model. Only if every model sold at once would you know it’s true valuation.

[Mystro]

Depends on the watch but asking anything off of a SS Daytona won’t happen. They don’t need to discount as they will sit on it and wait for the market to come up to their asking prices.

[Chewbacca]

I start my dating nights with the same title.

[dwjez14]

You never know if you don’t ask but I bet max discount is 500 if even that. Davidsw is about to do a sale. You can probably get 500.00 off a Daytona later this week. 20 percent is a dream and will not Happen

[OG1982]

If I was buying / enquiring about a watch from a trusted seller or a watch dealer that appears to be priced higher than the market average, I would have little hesitation in starting the negotiation with a 20% reduction in their asking price. I have been trained in negotiation, it's important you let the seller know you are a serious buyer while letting them know you are aware of the market price and not prepared to pay over the odds. Start with a low offer and have a figure in mind you are happy to pay, if you can't reach that figure don't be afraid to lay your cards out and say 'if you can make it £/$***** then I will buy the watch. Also, don’t be afraid to walk away if they say no. Chances are they will stop you walking out or call you later that day to secure a deal.

Chrono24 prices need to be taken with a pinch of salt, especially the way they are pricing watches in 'your collection' section of the website. My 2019 BLNR on Jubilee is currently worth £15440 according to Chrono24 estimated worth. But there are a number of professional dealers advertising the exact same watch for sale for £14250 - £14500.

[alphadweller]

It's ok to ask politely but unrealistic considering you would be lowballing the seller.

[1William]

Not a fan of Chrono24 as a platform for sales. It is a source for me to see what is being asked but with the fees the prices are usually unrealistic. Many of the sellers do not even have the watches they are listing and will source the watch upon purchase and if they can not they will refund the money. I have found dealers on the platform selling a watch that I have contacted at the business and most will take off the Chrono24 fees but then you are at mostly an inflated price and they act like they are doing you a favor. Trusted Sellers from TRF or my local AD is the way I typically go. I actually prefer EBay over Chrono24 now that they have the Authentication Program.