This is getting silly

[superstarmar]

Originally Posted by Bigblu10

Try $12,100 and change.

Yeah , totally ridonculous...

[Speedbird-1]

Bought my 1st GMT in '74 for £200.......
Today......must be better investment than Gold or early Marvel Comix!



Sincere apologies to all for mentioning the dreaded 'I' word.

[DGB]

It is getting out of hand, it roughly started after the Brexit, any links you think? This is no longer a grey market, it has become a dark dark grey market, almost black.

[MonBK]

How bad do you want it?

[Speedbird-1]

Originally Posted by superstarmar

Yeah , totally ridonculous...

D'you mean redunculous?

[BLNR Nairobi]

Originally Posted by peterpl

Only a fool would pay that. Sellers can list at any price there is nothing stopping that.

Maybe there’s another way of looking at it. Bonus season rolls up, bank accounts get a rapid and significant cash infusion, someone wants a Rolex but there’s no easy supply to scratch the itch.

The options for said person would be to (i) get on a waiting list that can (literally) be several years long; or (ii) pay a premium (and even premium-plus) price to get the item now.

For some of these people, their time is worth more than waiting years for a simple watch, and they view an extra 2-5,000 Dollars/Pounds as being a small token to pay for short-circuiting a protracted waiting period.

Thus, it’s a choice of being (i) foolish by paying thousands more above the RRP for a watch; or (ii) foolish by subjecting oneself to uncharacteristically long wait times for a mass-produced item.

They opted for the former.

I personally wouldn’t pay that much above RRP for a mass-produced item, but I wouldn’t call those who would foolish. After all, I’m certain there are many who think WE are foolish spending thousands of Dollars on a watch that can do much less than an Apple Watch costing fractions less ...

[fskywalker]

Originally Posted by DPE

Sounds more like someone over valuing their stock. Doesn't mean it will sell.

[stefs]

to put it in perspective I looked at a mint sub c date 2 weeks ago (think it was a 2017 if I recall) and that was up for £6500. Shows how much they are chancing their arm!

[Token74]

I have a slightly different view on this to be honest. Compared with other brands, Rolex retail pricing is currently ridiculously competitive.

At one end of the scale, look at the price of recently launched Bremont models; I'm a big fan of Bremont but their latest release at £4,700 ish is only about £1k cheaper than a Sub, and I believe the Sub to be a far superior watch.

The same is true of Omega; I have a Speedmaster and like/appreciate the brand, but Rolex is superior in my view. And yet, Omega prices seem to have gone North very quickly.

Ok the other hand, look at AP and Patek. The retail price of a 15710st is £16k - I love the watch (and have one) but it's not £10k more watch than a Sub.

And a 5711 is certainly not c.£15k more watch than a Sub.

Basically, Rolex low retail pricing is skewing the view of grey market prices. If Rolex were to apply a 30% - 40% price increase, it would (a) out then back in the space they should occupy directly between Omega and AP, and (b) would remove ridiculous grey market premiums. And maybe (c) would normalise supply and demand.

I don't think £8.5k for a Sub is crazy, it just seems crazy to pay that much because it retails at far less.

Of course, there is a debate about the cost of watches overall, but that's a different debate.


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[tyler1980]

Originally Posted by Token74

I have a slightly different view on this to be honest. Compared with other brands, Rolex retail pricing is currently ridiculously competitive.

i agree with this 100%. Rolex is the value option among most high end watch brands considering what you pay vs what you get. They could easily have retail considerably higher and still be a good buy vs most other brands.

[ericsku87]

Yeah, but still. GBP 8500 for a preowned(albeit probably like new) SubC? That’s one step short of robbery.

[BLNR Nairobi]

Originally Posted by ericsku87

Yeah, but still. GBP 8500 for a preowned(albeit probably like new) SubC? That’s one step short of robbery.

But what if the buyer really wants a SubC, and there’s no availability at the AD (unless they want to wait for a Submariner for over a year)? And what if GBP 8,500 is a rounding error for the buyer?

The point I was trying to make above is that for some people paying a big premium is absolute folly, but for others being on a multi-month/year waitlist for a watch is just as foolish.

[Mystro]

What is the waiting time in the UK? What is your time worth? Just saying.

[Michigan_State]

I‘m not too familiar with the specifics of the supply/demand situation in the UK (Brexit?), but it‘s about time, Rolex puts an end to this. I‘m happy to see prices rise and everything, but things getting too hot might eventually hurt them.

[BLNR Nairobi]

Originally Posted by Mystro

What is the waiting time in the UK? What is your time worth? Just saying.

Exactly.

[Token74]

Originally Posted by Michigan_State

I‘m not too familiar with the specifics of the supply/demand situation in the UK (Brexit?), but it‘s about time, Rolex puts an end to this. I‘m happy to see prices rise and everything, but things getting too hot might eventually hurt them.

So you think that Rolex should and can dictate what non-affiliated retailers/private sellers sell their watches for??

And you think that their watches being sold by others at above retail price will ruin them??

I think Rolex will be licking their lips right now!!


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[Michigan_State]

Originally Posted by Token74

So you think that Rolex should and can dictate what non-affiliated retailers/private sellers sell their watches for??

And you think that their watches being sold by others at above retail price will ruin them??

I think Rolex will be licking their lips right now!!


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Well, I think that Rolex‘s current tactics contribute to the situation (limit supply of SS models to drive demand) and yes, I believe that they should be conscious of the overall market environment (including what happens in the aftermarket), as they‘re the ones that have to manage/maintain their brand.

That being said, the point I was trying to make is that they are surely licking their lips now, but should be aware of (potential) adverse effects, down the road.

[Token74]

Originally Posted by Michigan_State

Well, I think that Rolex‘s current tactics contribute to the situation (limit supply of SS models to drive demand) and yes, I believe that they should be conscious of the overall market environment (including what happens in the aftermarket), as they‘re the ones that have to manage/maintain their brand.



That being said, the point I was trying to make is that they are surely licking their lips now, but should be aware of (potential) adverse effects, down the road.

I can't see that there will be any adverse effects downstream. This is pretty standard across the market with popular high end watches (Nautilus, Aquanaut, Royal Oak etc.) and indeed high end premium goods across the board.


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[Cibbersicks]

Just to be clear I posted this because I was shocked at the price, I’m not interested, I’ve already got the exact same watch!


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[Michigan_State]

Originally Posted by Token74

I can't see that there will be any adverse effects downstream. This is pretty standard across the market with popular high end watches (Nautilus, Aquanaut, Royal Oak etc.) and indeed high end premium goods across the board.


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Fair take. For your above mentioned watches, I agree, they are inherently hot/limited and Rolex currently does an excellent job, promoting their upper-end pieces by constraining supply at the base (SubC). That being said, I am concerned that this artificial environment might bring about challenges, but we shall see. Will definitely be interesting to watch things develop.

[Peter99]

Originally Posted by The Joker

Not even London, the Midlands

Always thought that’s where the money is!
They used to pay the highest workers hourly rate in the land.
Still do by the look of it!

[Bt122]

Originally Posted by Lt Virgil Hilts

D'you mean redunculous?

Uh...I miss the joke?


https://www.urbandictionary.com/defi...rm=ridonculous




I’ve never had to google definitions until I got on rolexforums

[amh]

Jewelry shops, pawn shops always mark up their products. Gives you plenty of room to bargain!

[superstarmar]

Originally Posted by Lt Virgil Hilts

D'you mean redunculous?

Yes, something like that ...