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

[eijiboy]

Another price drop on new panda. from 36k to 34500 bnib

[eijiboy]

Originally Posted by HAL330

well considering I live in Norther CA where sales tax is just south of 10% ... the price I paid for the 126619LB is $2000 less than if I'd walked into an AD and bought it there... so I'm good with that price.. frankly, I'd have been good with paying a bit more... because I WANT the watch, but if it's it's $50-$60K in 2-3 years or not is not even on my mind..

I don't think we're going to get to where you can walk into an AD and buy most popular models again anytime soon... before this happens, I can see Rolex taking their sales model to a pure on-line model .. the corruption among so many AD's is beyond repair.

Perfect timing on getting the sub. they selling below retail now and tax free if your seller is out of state

[Screwly]

Man this thread is awesome! It’s like the complete opposite of the “panda reaches 50k” thread. Where is that one guy who was the cheerleader for the panda and Tiffany dialed op?? I can’t remember his name….

[GB-man]

Originally Posted by Screwly

Man this thread is awesome! It’s like the complete opposite of the “panda reaches 50k” thread. Where is that one guy who was the cheerleader for the panda and Tiffany dialed op?? I can’t remember his name….

Jacksonrain

[Screwly]

Originally Posted by GB-man

Jacksonrain

Yes! Is he still around??

[Al1969]

Originally Posted by Screwly

Yes! Is he still around??

I guess the pom poms are put away for now.

Incorrectly identified as “Panda” Daytonas “Going to 75K and upward!”

[1665fan]

Originally Posted by Al1969

I guess the pom poms are put away for now.

Incorrectly identified as “Panda” Daytonas “Going to 75K and upward!”

[HAL330]

Originally Posted by eijiboy

Perfect timing on getting the sub. they selling below retail now and tax free if your seller is out of state

and that won't last... mark my words.

[GW44]

Originally Posted by temporarychicken

At least the estate agents in the UK (equivalent to realtors in the US) don't take all the adverts for houses out of the shop window and hide them in the safe.

It's been a seller's market here for the longest time but it hasn't come to that....yet.

They have tried other techniques akin to 'jewellery'' and 'relationship', such as prioritising repeat customers (developers) and applicants who get their mortgages through the agent.

The parallels are actually quite scary between ADs and Estate Agents now I come to think of it.

Limited supply... Make more on each unit.

You're omitting the "off the market" transactions too. In "hot" areas they can represent 20+% of completed sales.

[pjaffe]

Not sure if anyone else posted this but:

Combo deal of BNIB Batman AND Black Daytona for $44.5k on Moda.

[mr_gray]

The old days are returning! I saw a black dial Explorer 2 (5 digit) on "moda under 10k" site for $5,600 USD just now. watch only but it looked great. as a previous poster wrote, we will see what is popular now and what is not as the unpopular designs will really plummet.

Tastes have changed relative to when I got into watches 15 years ago but not that much. I reckon DJ will do better than it used to but YM, Exp 1 and 2 (black dial), AK will take an absolute hiding. TT will be crushed. Already 5 digit TT subs are being crushed. Even 6 digit TT is dying. Broadly 5 digit will take a hiding as it isn't as crisp/flashy like new Rolex is and will appeal to far fewer people. PM rolexes are being slashed.

i was thinking of selling my 5 digit gold sub but man! nobody wants to catch a falling knife.

[GB-man]

Originally Posted by mr_gray

The old days are returning! I saw a black dial Explorer 2 (5 digit) on "moda under 10k" site for $5,600 USD just now. watch only but it looked great. as a previous poster wrote, we will see what is popular now and what is not as the unpopular designs will really plummet.

Tastes have changed relative to when I got into watches 15 years ago but not that much. I reckon DJ will do better than it used to but YM, Exp 1 and 2 (black dial), AK will take an absolute hiding. TT will be crushed. Already 5 digit TT subs are being crushed. Even 6 digit TT is dying. Broadly 5 digit will take a hiding as it isn't as crisp/flashy like new Rolex is and will appeal to far fewer people. PM rolexes are being slashed.

i was thinking of selling my 5 digit gold sub but man! nobody wants to catch a falling knife.

Live footage from Moda

[JWillard]

Does anyone know if Cramer is on Moda, he is calling a bottom lol

[CoolCat#7208]

https://www.sothebys.com/en/buy/auct...es-9?locale=en

Worth keeping an eye on some of these if you're interested in real market values. In HKD yes, but indicative nonetheless.

[Meltingicecube]

I honestly can't wait to see what happens when the Fed hikes by 75bps next week, by another 75bps in September and when QT really kicks in!

I have spoken to multiple sources inside number of ADs! They are stuck with some professional models and don't know what to do with them (Airkings, Explorers, PM subs,...)!

They don't want to just give them away to clients with no to little purchase history and they are not allowed to put them on display under any circumstances!

[CoolCat#7208]

Originally Posted by Meltingicecube

I honestly can't wait to see what happens when the Fed hikes by 75bps next week, by another 75bps in September and when QT really kicks in!

I have spoken to multiple sources inside number of ADs! They are stuck with some professional models and don't know what to do with them (Airkings, Explorers, PM subs,...)!

They don't want to just give them away to clients with no to little purchase history and they are not allowed to put them on display under any circumstances!

A lot of this hike is already priced into most markets around now. Early in this month the indication was that it was going to be a full 1% but that cooled right off and bought some relief.
I get the impression they are saving face to keep the people on their side instead of totally nuking everything (which sadly, kinda needs to happen)

With watches in particular most greys over here (UK) are now saying that the market is starting to level out more. Still room to go down more on the popular models though. Nevertheless, people are still buying, July is a quiet month in general for them anyway. There will always be people with money to spend even in a recession and it's mostly those people who are wholly unaffected by it anyway.

[JWillard]

Originally Posted by Meltingicecube

I honestly can't wait to see what happens when the Fed hikes by 75bps next week, by another 75bps in September and when QT really kicks in!

I have spoken to multiple sources inside number of ADs! They are stuck with some professional models and don't know what to do with them (Airkings, Explorers, PM subs,...)!

They don't want to just give them away to clients with no to little purchase history and they are not allowed to put them on display under any circumstances!

should be at least 100, i am all for 200 to 300

[Vince_76]

Originally Posted by CoolCat#7208

A lot of this hike is already priced into most markets around now. Early in this month the indication was that it was going to be a full 1% but that cooled right off and bought some relief.
I get the impression they are saving face to keep the people on their side instead of totally nuking everything (which sadly, kinda needs to happen)

With watches in particular most greys over here (UK) are now saying that the market is starting to level out more. Still room to go down more on the popular models though. Nevertheless, people are still buying, July is a quiet month in general for them anyway. There will always be people with money to spend even in a recession and it's mostly those people who are wholly unaffected by it anyway.

Not according to MODA. No indication of a tried and true bottom on most hyped models. Moreover, greys have a vested interest in this kind of hand waving.

MODA is the most efficient watch market out there, so it’s the best bellwether we have.

Yes, there is a portion of the population that is more insulated to a downturn, but absolute demand (even among this portion) has and will decline - watches just aren’t as top of mind as they were 6 months ago.

[enjoythemusic]

Originally Posted by JWillard

Does anyone know if Cramer is on Moda, he is calling a bottom lol

Cramer should be in jail, yet the SEC refuses to follow the rule of law.

это Америка мой друг.

[BroncoOne]

Weird.My Turn-o—Graph is worth 3 times what I paid for it.

[dmash]

2021 Sub 124060, $11.8k, unsold for 12hours

[Alvar*]

Originally Posted by dmash

2021 Sub 124060, $11.8k, unsold for 12hours

Wow. When will we see these prices outside pd Moda?

On chrono24 the only reference I see significantly softening is the 126610 Cermit. Full sets going for ~ 18000$

[HelloMelo]

Originally Posted by Alvar*

Wow. When will we see these prices outside pd Moda?

On chrono24 the only reference I see significantly softening is the 126610 Cermit. Full sets going for ~ 18000$

Big grey's still holding the line to prevent further panic. I can't imagine the floodgates that'll open once C24, Bobs, or DavidSW start reflecting actual street prices...

[dmash]

Originally Posted by HelloMelo

Big grey's still holding the line to prevent further panic. I can't imagine the floodgates that'll open once C24, Bobs, or DavidSW start reflecting actual street prices...

Correct. They have some months to play with, plenty of cash on reserve. They’re praying to all higher powers this corrects within the next few months otherwise when they start dropping prices significantly, it’s really going to bust wide open.

[dmash]

2022 white Daytona, brand new, Full set, sitting unsold at 34.5k

[Vince_76]

Brand new unsized black Daytona (card 2 days old) at 29k. Sitting.

No bottom in sight - if I could short the secondary watch market I’d be going big.

[dmash]

Originally Posted by Vince_76

Brand new unsized black Daytona (card 2 days old) at 29k. Sitting.

No bottom in sight - if I could short the secondary watch market I’d be going big.

Honestly, the only people I’ve spoke with who don’t think it will continue to drop, are people who paid high premiums and simply have wishful thinking. Some models have legitimately tanked 50% + in less than a couple months. That’s big $.

This is really about to test the stomach of some of those guys who promised they were ‘truly into horology’ and bought what they loved and not chasing trends. Which I’ve said since the get go, was all a fabrication of their mind and many guys were simply enamored with owning something they couldn’t have, not what they really liked. Same ones who hated the hulk all of the sudden liked it once it was rare? That doesn’t happen because your tastes change, it happens because you’re being duped (sometimes even unknowingly by your own brain).

Let’s see though!

[Bobcat Sig]

Originally Posted by dmash

Honestly, the only people I’ve spoke with who don’t think it will continue to drop, are people who paid high premiums and simply have wishful thinking. Some models have legitimately tanked 50% + in less than a couple months. That’s big $. This is really about to test the stomach of some of those guys who promised they were ‘truly into horology’ and bought what they loved and not chasing trends.

I'm one... sort of.

My Exp II Polar Freccione came to me at a higher-than-MSRP price. And I'm ok with that. I'm also ok with its value dropping to near, or below MSRP. Why? Because I love watches and it's not about the monetary value - it's the intrinsic value.

[GW44]

Originally Posted by Meltingicecube

I have spoken to multiple sources inside number of ADs! They are stuck with some professional models and don't know what to do with them (Airkings, Explorers, PM subs,...)!

They don't want to just give them away to clients with no to little purchase history and they are not allowed to put them on display under any circumstances!

What you really mean is that you're talking about only WoS Group AD's here, not the whole UK AD network. They can't "give them away" (or sell them) to anyone without a Group purchase history and also cannot sell to anyone who has already bought 2 Rolex's in a rolling 12 month period. But they can put them on display as "Exhibition Only" and that is not prohibited despite what your contacts might have told you....

Direct source is a friend who is a £1m+ spend VIP who these newly introduced (new ish CEO) rules at WoS will also apply to.

[dmash]

Originally Posted by Bobcat Sig

I'm one... sort of.

My Exp II Polar Freccione came to me at a higher-than-MSRP price. And I'm ok with that. I'm also ok with its value dropping to near, or below MSRP. Why? Because I love watches and it's not about the monetary value - it's the intrinsic value.

100% my friend, not saying your kind doesn’t exist. I’m simply saying that there is a *large* population who is about to be done with watches as it was seen as nothing more than an IG flaunt and a possible additional investment account. Which with stocks, the case can be made to simply wait it out, as it’s a company with real value based on profits/output/etc. Watches are nothing more than luxury goods and it’s monetary worth is entirely based on how popular it is or isn’t….

But anyhow, back to values.

Black Daytona 2022, full set, brand new, $28.9k