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

[Kliminator]

Originally Posted by psm11

Anyone see that Takuya has a 2023 BNIB panda Daytona listed for $38.6k!?? I really like Takuya and have bought pieces from him but kinda dumbfounded on that price. Seems outrageously high and not in line with market.


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I mean I feel like all of David's prices are insanely inflated as well... And have been for quite awhile.

I used to browse pretty regularly but stopped just because it's so much higher than everything else / not realistic anymore. And I'm saying this having purchased from him before

[ButtButt]

Originally Posted by psm11

Anyone see that Takuya has a 2023 BNIB panda Daytona listed for $38.6k!?? I really like Takuya and have bought pieces from him but kinda dumbfounded on that price. Seems outrageously high and not in line with market.


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lol that's insane, I paid less than that for a CdV from him.

[walds11]

Originally Posted by psm11

Anyone see that Takuya has a 2023 BNIB panda Daytona listed for $38.6k!?? I really like Takuya and have bought pieces from him but kinda dumbfounded on that price. Seems outrageously high and not in line with market.


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Thanh is probably sitting on goods that he paid high for when prices were through the roof. And he’s in no rush to dump/sell.

[rushca01]

Originally Posted by Kliminator

I mean I feel like all of David's prices are insanely inflated as well... And have been for quite awhile.

I used to browse pretty regularly but stopped just because it's so much higher than everything else / not realistic anymore. And I'm saying this having purchased from him before

Agreee, David’s prices are much higher than everyone else. However, I picked up a full set 116660 JC in April from him. Sent them an offer and they accepted, it was in line with the market.

[rushca01]

Originally Posted by Radbloke

Current asks are between $13K to $14,500ish, depending on condition. These are sitting at the prices listed, so lower than above.

Thank you. Looking at one, one owner 2016 complete set, private seller (not a grey) and they want 14,500.

[psm11]

Originally Posted by walds11

Thanh is probably sitting on goods that he paid high for when prices were through the roof. And he’s in no rush to dump/sell.

Yeah he still has an AP panda 26331 listed for 73k.

Just want to be clear I am not knocking the guy — have had nothing but good experiences with him and he’s a great dealer.

[psm11]

Originally Posted by walds11

Thanh is probably sitting on goods that he paid high for when prices were through the roof. And he’s in no rush to dump/sell.

Yeah he still has an AP panda 26331 listed for 73k.

Just want to be clear I am not knocking the guy — have had nothing but good experiences with him and he’s a great dealer.

[Kliminator]

Originally Posted by rushca01

Agreee, David’s prices are much higher than everyone else. However, I picked up a full set 116660 JC in April from him. Sent them an offer and they accepted, it was in line with the market.

His (listed) pricing shot through the roof ... I want to say like a year or so ago... Before, it was more in line with the market, with a slight premium. But now it's incredibly inflated I can't imagine a lot of people buying at those listed prices so it makes sense that you made an offer (I'm assuming that was more in line with market) and that they accepted.

[Kliminator]

Originally Posted by walds11

Thanh is probably sitting on goods that he paid high for when prices were through the roof. And he’s in no rush to dump/sell.

That's one possibility, or that those are consigned inventory and the sellers are wanting to keep the prices high for that same reason. Regardless - as buyers (and most of us informed buyers), we obviously won't bite at prices that are out of proportion with the general market price. Not a slight at all on any of our trusted dealers -- it is what it is.

[Radbloke]

Originally Posted by rushca01

Thank you. Looking at one, one owner 2016 complete set, private seller (not a grey) and they want 14,500.

I would say that's on the high side, especially from a private seller. 126710s are selling in the 15s.

[psm11]

2 black dial 43mm ROO sitting on MODA for ~$33k each. Both used but in great condition and full sets. These things are cratering. Is the AP boutique still pretending there is a waitlist for ROOs?


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[Radbloke]

Originally Posted by psm11

2 black dial 43mm ROO sitting on MODA for ~$33k each. Both used but in great condition and full sets. These things are cratering. Is the AP boutique still pretending there is a waitlist for ROOs?


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Good question! If I have some spare time tomorrow I'll pop down to the dealer and find out.

[Rico_Brasole]

Market is so dead in the water. Look at how many Pepsi and LVs are listed for sale. I’d hate to be selling a Kermit right now …those are tanking the fastest


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[doze]

Originally Posted by psm11

2 black dial 43mm ROO sitting on MODA for ~$33k each. Both used but in great condition and full sets. These things are cratering. Is the AP boutique still pretending there is a waitlist for ROOs?


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But of course, last couple of times i visited AP boutiques + AP house, the rep explained to me that AP only produces 40k watches annually and it'll take them easily more than 10years just to meet the current demand....

[mwc5k]

Originally Posted by doze

But of course, last couple of times i visited AP boutiques + AP house, the rep explained to me that AP only produces 40k watches annually and it'll take them easily more than 10years just to meet the current demand....

Hah! I mean they are in the business of selling watches, that’s what I would expect to hear.

[psm11]

Yeah but a certain point it becomes insulting. If you are buying an AP and having these talks with an SA you likely know the current market and can clearly see it’s in decline.


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[doze]

Originally Posted by psm11

Yeah but a certain point it becomes insulting. If you are buying an AP and having these talks with an SA you likely know the current market and can clearly see it’s in decline.


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even more insulting if you're wearing one while visiting and you've experience the time when they used to offer discount on RO (or even on Daytona's!) ! It's a bit sad actually, to see customer willing to beg to spend their money

[psm11]

Originally Posted by psm11

2 black dial 43mm ROO sitting on MODA for ~$33k each. Both used but in great condition and full sets. These things are cratering. Is the AP boutique still pretending there is a waitlist for ROOs?


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One “sold” an hour ago (who knows if that’s legit or not and what the final price was). Other one is still up there.

[1665fan]

Originally Posted by Kliminator

I mean I feel like all of David's prices are insanely inflated as well... And have been for quite awhile.

I used to browse pretty regularly but stopped just because it's so much higher than everything else / not realistic anymore. And I'm saying this having purchased from him before

Most trusted sellers take advantage and are more TAX masters than anything……the highest of high prices

[WatchEater666]

The double balance skeletonized AP has dropped a lot too.

[APWorldTour]

Brand new full set pandas officially below 30k with many around 28.5

[APWorldTour]

Originally Posted by Paulsahota88

When will grey market sellers go bankrupt and go back to working as security guards and furniture salesmen?

If all grey market sellers go bankrupt then you’ll really have no way of getting watches as per your other thread you’re getting nowhere with ADs.

[cbalster]

Originally Posted by Paulsahota88

Let’s run this scenario here. Backpack grey market dealer with no business tax number to his name decides to use Covid subsidies and interest free loans to buy watches from Rolex dealers and other grey market dealers to kick start their business. 24 months later, the bank of Canada jacks up interest rates and now the lines of credit are at prime plus 1-1.5% and guess what the Covid CEBA loans are up for payment by end of this year or they’re at the prime plus a point as well.

Now you tell me how you plan to service that debt and manage your cash flow?
If you do not have inventory turnover at 10 times and your debt service is piling up you will only within months to belly up.

This isn’t a grocery store business or a liquor store where you get hundreds of customers each day. This is watch business and we are heading into a recession.
Good luck back pack grey market salesmen. They will go back to selling furniture or as security guards soon.

why do you hate so much on furniture salesman and security guards? they are just people trying to make an honest living. of course a few bad apples here and there (same for watch dealers).

[APWorldTour]

Originally Posted by Paulsahota88

Let’s run this scenario here. Backpack grey market dealer with no business tax number to his name decides to use Covid subsidies and interest free loans to buy watches from Rolex dealers and other grey market dealers to kick start their business. 24 months later, the bank of Canada jacks up interest rates and now the lines of credit are at prime plus 1-1.5% and guess what the Covid CEBA loans are up for payment by end of this year or they’re at the prime plus a point as well.



Now you tell me how you plan to service that debt and manage your cash flow?

If you do not have inventory turnover at 10 times and your debt service is piling up you will only within months to belly up.



This isn’t a grocery store business or a liquor store where you get hundreds of customers each day. This is watch business and we are heading into a recession.

Good luck back pack grey market salesmen. They will go back to selling furniture or as security guards soon.

Cool story. Really wonder why you can't get even a simple DJ from an AD

Also kind of weird to come on the forums and start 2 identical threads asking for help only to answer your own questions.

[bmwsubmariner]

https://loupethis.com/auctions/rolex...with-guarantee

This went for what I consider too much. $29k. Understand that it's a Patrizzi but the tops of the lugs looked slightly polished when I expected them to be brushed and lugs didn't look as sharp as some other examples I've seen, but maybe I'm missing something.

[Radbloke]

Originally Posted by bmwsubmariner

https://loupethis.com/auctions/rolex...with-guarantee

This went for what I consider too much. $29k. Understand that it's a Patrizzi but the tops of the lugs looked slightly polished when I expected them to be brushed and lugs didn't look as sharp as some other examples I've seen, but maybe I'm missing something.

A lot of the time, money won't launder itself.

[In-N-Out]

https://www.businessoffashion.com/ne...fifth-of-jobs/

Hodinkee laying off 20% of its staff due to slowdown in watch sales. Great news for collectors as hopefully they will stop with the clickbait buzz feed videos and articles and go back to its roots as flippers and fake collectors leave the market

[Radbloke]

Originally Posted by In-N-Out

https://www.businessoffashion.com/ne...fifth-of-jobs/

Hodinkee laying off 20% of its staff due to slowdown in watch sales. Great news for collectors as hopefully they will stop with the clickbait buzz feed videos and articles and go back to its roots as flippers and fake collectors leave the market

Unfortunately, it's too late for the dink. At this point they have fully embraced becoming an in-flight magazine. Purchasing crown and Caliber may end up being their complete undoing in the end.

All the quality editorial staff left years ago, all that remains at this point is regurgitated press releases and Ben C occasionally posting a cringeworthy video or poorly worded op-ed about how if we don't like a particular watch, it's because we're too poor.

It sure is a shame, as years back it was a good read most of the time. However, it's way too far gone now to ever go back.

[Radbloke]

A few updates:

126710BLRO on jubilee - watch only $16.9k sold today.
126710BLNR on jubilee - watch and card, brand new unsized $15.5k sold today.
126710VTNR on oyster - watch and card, brand new asking $17700. Sitting for almost 2 days.
126610LN - full set 2021 asking $12250, sitting for over 3 days.
126610LV - full set 2020 asking $14.7k, sitting for over 3 days.
116500LN black dial - full set 2020 asking $24,950, sitting since yesterday.

[rushca01]

Originally Posted by Radbloke

A few updates:

126710BLRO on jubilee - watch only $16.9k sold today.
126710BLNR on jubilee - watch and card, brand new unsized $15.5k sold today.
126710VTNR on oyster - watch and card, brand new asking $17700. Sitting for almost 2 days.
126610LN - full set 2021 asking $12250, sitting for over 3 days.
126610LV - full set 2020 asking $14.7k, sitting for over 3 days.
116500LN black dial - full set 2020 asking $24,950, sitting since yesterday.

Where? I’ve seen the same watches bumped repeatedly by established sellers and they are not willing to deal. I’m specially looking at two references 116610 and 116710 BLNR. Dealers are not moving stock and they are not budging.