Prices slump by up to 50% for discontinued Rolex watches (Watchpro)

[ingoodtime]

Originally Posted by temporarychicken

I saw this too. The crazy prices for recently discontinued models have gone down a lot, but still quite a bit above their original MRSP.

In 2008 0r 2009, I saw the YG green dial gmt and it was about 24K new. I could not afford it back then. Two years ago when looking for a pre-owned YG 40 mm watch, The full YG bluesy was 7 to 14k less than the discontinued green dial gmt. The green dial was then 32k and up to 40K USD. Since then, that gmt has skyrocketed up to lke 65k (asking anyway).
While they may be on the way down, they will remain very costly. I purchased the full yg bluesy preowned because it was mre affordable probably due to remaining in production albeit 1 mm larger.

[ExplorerI]

Originally Posted by mulberry083

I’m starting to see a bigger delta on Moda vs trusted sellers posts. Looking at the Moda <$10k group, some prices appear to be 15-20% lower.


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Margins are very very thin on moda. Lot of these guys buying the complete set at wholesale pricing then offering the watch for the same price +250 for the box. So their only profit is the 250. Not a business I’d want to be in but I guess if you do a couple deals a day at 250 each like some of them do it adds up.

[Gourdman]

Originally Posted by ExplorerI

Margins are very very thin on moda. Lot of these guys buying the complete set at wholesale pricing then offering the watch for the same price +250 for the box. So their only profit is the 250. Not a business I’d want to be in but I guess if you do a couple deals a day at 250 each like some of them do it adds up.

Wait what?

So they are just buying at x and selling at x+250?


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[sigma089]

Hi guys, where do you see silver 15450s atm? I'm in the market for one, but asking prices in Europe are still too high imo.

[T3rmina1]

Market continues its downward trajectory

image_2023-07-29_162907010.png

[ajw45]

Kering and Richemont are getting smashed, LVMH warned but okay, Hermes is trucking along. The attainable luxury brands are double digit decreases in sales in the US while the top of the market with more 1% clients seems to be fine. For watches figure anything under $100k gets pulled hard back down to reasonable under msrp levels except for the hype pieces and over $100k an even harder drop outside the few top "investment" grade pieces and hot indies as seen in the spring auctions.

[mulberry083]

I’m betting Swatch’s move to rapidly increase the Speedy price is going to backfire. I’m starting to see late 22, early 23 Sapphire Sandwiches routinely in very low 6’s.


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[messikens]

What are the BLNR 2021 and thereafter on Jubilee going at Moda these days?

Vince and dmash to the rescue!

[mulberry083]

Looks like it’s in the 16’s


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[Atr365]

Been seeing lots of messages that everyone getting their watches, finally.

Here’s maybe why? https://www.businessinsider.com/author/joseph-wilkins

[Marinapark]

Both Rolex ADs in my city still maintain the “scarcity” fairytale with no watches up for sale. I wonder how long they can keep those DayDates and YM Oysterflexes in the back.


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[mulberry083]

I’ve been following the eBay thread on OmegaForums. A lightly used Sapphire Speedy on bracelet is now selling at ~$5800. Prices are dropping like a rock.


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[BillA]

Seeing reports from our brothers in the UK
In the US……..nada.
I won’t believe it until an AD calls me from a wait list.

[Sandpit]

Originally Posted by BillA

Seeing reports from our brothers in the UK
In the US……..nada.
I won’t believe it until an AD calls me from a wait list.

Believe what? The proof is there to see that prices are tumbling.

[HMHM]

The cracks are already visible these days, starting with a certain “Gentleman” who is now in millions of debt after spending way way way beyond his means. Clearly the market is ice cold at the moment hence the failure to continue the great “Ponzi Show”.

Next, greys are so AFRAID of buying outright these days. Only consignment. Why so scared to buy outright from customers when you can’t stop preaching about how the market has bottomed out? Isn’t it going to go upwards only from its current rock bottom?

[day_Date_786]

Originally Posted by HMHM

The cracks are already visible these days, starting with a certain “Gentleman” who is now in millions of debt after spending way way way beyond his means. Clearly the market is ice cold at the moment hence the failure to continue the great “Ponzi Show”.

Next, greys are so AFRAID of buying outright these days. Only consignment. Why so scared to buy outright from customers when you can’t stop preaching about how the market has bottomed out? Isn’t it going to go upwards only from its current rock bottom?

I personally think we are nowhere the bottom. I've had my eye on the 228236 Arabic model since mid May. I was first offered it at $135k, a month later $125k...2 days ago, $112k...
I'm waiting till hits the mid $90s which isn't too far off.

[HMHM]

Originally Posted by day_Date_786

I personally think we are nowhere the bottom. I've had my eye on the 228236 Arabic model since mid May. I was first offered it at $135k, a month later $125k...2 days ago, $112k...
I'm waiting till hits the mid $90s which isn't too far off.

Some pieces probably have, while others there are still room to go. I just can’t stand the forked tongue of these grey dealers who preach two different tales depending if you are the buyer or the seller.

[rolex_pl85]

Originally Posted by HMHM

Some pieces probably have, while others there are still room to go. I just can’t stand the forked tongue of these grey dealers who preach two different tales depending if you are the buyer or the seller.

LOL

You are spot on there. When they try to sell a watch they portray the msg that the market is on its way up and you wont lose any money on this piece and that they have never been busier.

Then when you call to sell outright the tone changes to well the market is quite soft and slow at the moment, so to be safe I will only do consignment with 7-10% margin for me otherwise I'd be 20% below wholesale chat prices to protect myself just in the case market continues to fall.

LOL -

[jb335]

Originally Posted by HMHM

The cracks are already visible these days, starting with a certain “Gentleman” who is now in millions of debt after spending way way way beyond his means. Clearly the market is ice cold at the moment hence the failure to continue the great “Ponzi Show”.

Next, greys are so AFRAID of buying outright these days. Only consignment. Why so scared to buy outright from customers when you can’t stop preaching about how the market has bottomed out? Isn’t it going to go upwards only from its current rock bottom?

I think that is much less a reflection of the market and instead a reflection of that “Gentleman’s” morals and addictions.


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[Mathematoxic]

Originally Posted by HMHM

The cracks are already visible these days, starting with a certain “Gentleman” who is now in millions of debt after spending way way way beyond his means. Clearly the market is ice cold at the moment hence the failure to continue the great “Ponzi Show”.

Next, greys are so AFRAID of buying outright these days. Only consignment. Why so scared to buy outright from customers when you can’t stop preaching about how the market has bottomed out? Isn’t it going to go upwards only from its current rock bottom?

Agree! The greys should all in with their money to hog inventory! To the moon! To the sun! To the galaxies!

[j.mo]

Would we consider Patrick, chase, and Thanh any of the “big grey’s”


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[bay_area_kid]

Originally Posted by j.mo

Would we consider Patrick, chase, and Thanh any of the “big grey’s”


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Probably not. For me, the "big greys" are:

• Watchbox
• Jomashop
• Bob's Watches
• Swiss Watch Expo
• European Watch Co.
• Crown & Caliber
• Costco

[HMHM]

Originally Posted by jb335

I think that is much less a reflection of the market and instead a reflection of that “Gentleman’s” morals and addictions.


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I can assure you, with the downward trending watch market, ToeKnee isn’t the first, and he also won’t be the last. It’s just that all of them are doing their best to cover the cracks… During the peak of the market, a lot of grey dealers bought overpriced stocks, thinking that prices will continue to go up and they will make a killing profit out of customers. Some of them are still holding white dial Daytona bought from 2022 which they are reluctant to sell below their buying price. So who’s going to fork out from their pocket to cover the grey dealer’s lost for each 116500 bought at the peak of the market?

An example below just like Mr ToeKnee:
https://www.straitstimes.com/singapo...oods-worth-32m

I’m not asking much from greys actually. All I’m asking for them is to walk the talk. If they are confident of a rebound, why are they not buying NOW? Why consignment? For consignment deals they have to pay a higher percentage. Buying outright they can pay less and make a greater percentage of profit down the road.

[massabee]

Originally Posted by HMHM

Next, greys are so AFRAID of buying outright these days. Only consignment. Why so scared to buy outright from customers when you can’t stop preaching about how the market has bottomed out? Isn’t it going to go upwards only from its current rock bottom?

You wouldn't know it from Moda - I did see prices bottom towards the end of last year but since then anything auctioned gets snapped up and most anything posted gets sold eventually, so these guys must be re-selling whatever they buy, for more, to someone.

[j.mo]

Chase just had a white face Daytona 2021, $30,950
Gone in 2 days.


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[massabee]

31K for a white face Daytona 116500 is not quite as low as prices got towards end of last year. And in any case anyone buying it for 31K is going to turn around and sell it for more. Buyers are out there.

[Kliminator]

Surprised to see DavidSW expanding into more retail space!

[In-N-Out]

We are probably only 8-14 months away from being able to pick up plain subs from Rolex with no waitlist. I think steel GMT and Daytona will continue to fetch a very slim premium or have a short waitlist, but we will def get there for sub/DJ etc.

[soicanbefree]

Always cautious of schilled MODA auctions.

Came in second after two other parties did a lot of last second back and forth.

A week later the winner reaches out "having trouble paying if I'd like to take it and he tops up the difference"

Nope. Either all your bids hammering it up 10k extra at the end were in bad faith or you were colluding to prevent a sale at too "cheap" a price.

[Radbloke]

Originally Posted by massabee

31K for a white face Daytona 116500 is not quite as low as prices got towards end of last year. And in any case anyone buying it for 31K is going to turn around and sell it for more. Buyers are out there.

Just checked Moda now to see where the pandas are sitting. First one in the feed - 2021 full set, $28,700. Been sitting there for 6 hours with the usual comments of CHEAP.

Well then maties, if it's cheap then surely it's time to break out the chequebook?