5711 Hype Dissapearing

[Calatrava r]

Originally Posted by Gandor

Yeah they're definitely dropping fast. I see 60k as a very reasonable target within the next year.

That is getting close to what I think FMV should be on this watch. I remember well when they were 20K retail and could be had easily at a discount.

[FrançoisCzapek]

Do you see the old 5711/1A dropping to $60k, but not taking other steel Nautilus models down with it?

[V25V]

Originally Posted by FrançoisCzapek

This is the problem. Someone who has yet to buy a 5711 might actually be interested, and not need to be put off by this kind of comment.

Watches are not investments. Best advice a potential buyer could ever get.

[ChetBaker]

Many collectors consider their watches a store of value, if not an asset, so going beyond the typical “buy what you like” and “watches are not investments” cliches is fully justified.

[SudiYunus]

Originally Posted by v25v

this is the problem. I could give a crap if the value of my 5711 goes down or not, this is not why i bought the watch. If investment is what you are after, put your money in the market.

+1

[Ichiran]

Originally Posted by v25v

watches are not investments. Best advice a potential buyer could ever get.

+2

[Partekular]

Originally Posted by Ichiran

+2

+3 … BUT…. One doesn’t want to by a watch which depreciates as fast as a lead balloon falls. If that happens one feels stupid for not buying grey a year after release. Buyer’s remorse is not good for any brand.

[kaiserphoenix]

i think its inevitable that residuals form part of the equation when one is looking to spend, 50-100K + AND watch prices are so exorbiant these days, even for non hype watches. I know that is a small sum for some and a considerable sum for others, but at least for me, even if my aim isnt to "make money" I cannot afford to buy a 100K watch and see it fall to 50K instantly. So whilst its not an "investment", it needs to hold its value "reasonably".

[cascavel]

Originally Posted by kaiserphoenix

i think its inevitable that residuals form part of the equation when one is looking to spend, 50-100K + AND watch prices are so exorbiant these days, even for non hype watches. I know that is a small sum for some and a considerable sum for others, but at least for me, even if my aim isnt to "make money" I cannot afford to buy a 100K watch and see it fall to 50K instantly. So whilst its not an "investment", it needs to hold its value "reasonably".

I completely agree with this. And, with a few exceptions, the wealthy people I've met really care about not tossing money away. Residual value matters to most and making money on luxury items becomes a bragging right to many.

[jcdevoe26]

I personally love the fact that a watch such as the 5711 (or 5167) draw too much hype and attention....keeps everyone distracted and chasing after a few pieces while the real gems are easy to get for those of us that lust after them...4947-1/a, for me the perfect Patek (AC, SS, 38mm, unique blue dial)

[1William]

Originally Posted by V25V

Watches are not investments. Best advice a potential buyer could ever get.

I disagree with this. Watches are an investment should you choose to use them that way. But they are not a good investment.

[Partekular]

Check out current RRP of 5172g and 5320G then compare with grey market prices on Watcharts.com. - then deduct 10-20% for sellers margin.

Investments? - Not in the normal pecuniary sense. You can see the rare riser - Nautilus and Aquanaut but fashion is a major determinate in their price - subjective not objective value.

[cascavel]

Originally Posted by 1William

I disagree with this. Watches are an investment should you choose to use them that way. But they are not a good investment.

Well, they're certainly not reliable investments. More like SPACs, few make money but some do and only the issuers are certain to profit.

[Mattt]

I disagree with the idea that watches aren’t investments. Most serious collectors, in any field, aim to acquire rare pieces and build collections at the best possible prices. What’s the point of collecting if you’re going to lose 70% on every purchase? Part of the thrill is finding a good deal and adding it to the collection.

[z train]

Originally Posted by kaiserphoenix

i think its inevitable that residuals form part of the equation when one is looking to spend, 50-100K + AND watch prices are so exorbiant these days, even for non hype watches. I know that is a small sum for some and a considerable sum for others, but at least for me, even if my aim isnt to "make money" I cannot afford to buy a 100K watch and see it fall to 50K instantly. So whilst its not an "investment", it needs to hold its value "reasonably".

You just described deflation and which is why I believe the watch market has a lot further to drop.

[V25V]

Originally Posted by kaiserphoenix

i think its inevitable that residuals form part of the equation when one is looking to spend, 50-100K + AND watch prices are so exorbiant these days, even for non hype watches. I know that is a small sum for some and a considerable sum for others, but at least for me, even if my aim isnt to "make money" I cannot afford to buy a 100K watch and see it fall to 50K instantly. So whilst its not an "investment", it needs to hold its value "reasonably".

These types of threads are never about watches holding value. I do not think anyone has an issue with that, the issue is "hype" and one worried about the value either tanking (from a price way above MSRP) or going up. That is something I have never once even considered when buying my watches. Now I have got all of mine at MSRP. If I had to buy gray for far above MSRP and the thought of it dropping in value really concerned me, I wouldn't buy it as it would not be enjoyable to own and actually wear.

[PAFG]

Originally Posted by Mattt

I disagree with the idea that watches aren’t investments. Most serious collectors, in any field, aim to acquire rare pieces and build collections at the best possible prices. What’s the point of collecting if you’re going to lose 70% on every purchase? Part of the thrill is finding a good deal and adding it to the collection.

And this right here is why the watch market is ruined.. ^^

Before anyone heard the word COVID - watches as investments were the last possible idea on anyones mind. Now comes along a world pandemic and money printing, and suddenly people start thinking watches go up in value and should be that way lollll.

[Vince_76]

Originally Posted by pafg

and this right here is why the watch market is ruined.. ^^

before anyone heard the word covid - watches as investments were the last possible idea on anyones mind. Now comes along a world pandemic and money printing, and suddenly people start thinking watches go up in value and should be that way lollll.

100%

[crod]

Originally Posted by kaiserphoenix

i think its inevitable that residuals form part of the equation when one is looking to spend, 50-100K + AND watch prices are so exorbiant these days, even for non hype watches. I know that is a small sum for some and a considerable sum for others, but at least for me, even if my aim isnt to "make money" I cannot afford to buy a 100K watch and see it fall to 50K instantly. So whilst its not an "investment", it needs to hold its value "reasonably".

I agree with this. I dont want to make money, I've sold very few watches during my collecting journey (less than 10) and I would be prepared to take some losses in a few of them but not in all of them, its important if you a buy a $50K plus watch you are not going to lose 50% o more when you sell it.
In that price range the collection as a whole needs to hold value, I think its healthy.

[FrançoisCzapek]

Might we go back to talking about the 5711?

[norcalgt3]

Originally Posted by FrançoisCzapek

Might we go back to talking about the 5711?

What is that saying? the calcu....errr...cubitus has changed.

[jenniferjanef]

Originally Posted by raclaims

I think people underestimate the 5711 a bit...even when I was getting insane discounts on anything Patek...I still struggled to get a 5711...maybe I'm unique but I believe it's never been an easy piece to acquire. That said I do hope they drop a bit so I can add a few more.

Back in 2010, 2011 or was it 2009 .. I can’t recall exactly but I bought my 5711 white dial with 15% discount and blue dial with 5% off retail and 5712R with 25% off and 5980/1R with 10% discount too. The only PP I bought without any discount before all these crazy wristwatch hype was my 5235G.

[cascavel]

Originally Posted by PAFG

And this right here is why the watch market is ruined.. ^^

Before anyone heard the word COVID - watches as investments were the last possible idea on anyones mind. Now comes along a world pandemic and money printing, and suddenly people start thinking watches go up in value and should be that way lollll.

I guess you weren't around in the days of the Panerai gold rush. Remember "Paneristi"?
The Aquanaut and the Nautilus weren't always the apple of watch collectors eyes but other watches were.