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#61 | |
"TRF" Member
Join Date: Mar 2008
Real Name: Louie
Location: CDC/FCGC
Watch: 116619LB
Posts: 1,267
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Quote:
I’ll wait. I’ve bought many, many Rolex watches over the last 5 decades. Never purchased a new Rolex from anyone other than the owner of an AD. Sent from my iPhone using Tapatalk |
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#62 | |
"TRF" Member
Join Date: Dec 2018
Location: Pennsylvania
Posts: 26
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Quote:
I agree. I have a friend that is “into watches” and has a few Rolex and others but doesn’t trust that any gray dealer is legit. He has bought omegas at msrp that can be had with a nice discount easily because he thinks he’ll get a fake. He’d much prefer buy a cpo from ad than ever “risk it” with a gray dealer. So there is def a market. Sent from my iPhone using Tapatalk |
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#63 |
"TRF" Member
Join Date: Mar 2019
Location: Budapest
Posts: 159
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I am shocked by how many people seem to think there is no downturn or that there is no softening when this has been going on for quite some time. Naturally I am referring to grey prices, retail prices have not yet softened. At least not widely for the brand. It's not subjective at this point. It is just numbers. Tried to trade in a few pieces to trade up and the prices quoted were laughable, none of the dealers want any stock at all, inventory is sitting for too long while prices keep slipping
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#64 |
"TRF" Member
Join Date: Aug 2014
Location: Pacific NW, USA
Watch: 116500LN
Posts: 686
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Hahaha... I am looking for car for my wife and there is a beautiful Genesis G70 at my local dealer with 1,900 miles. I'm thinking - who trades in a car with 1,900 miles? I think you gave me the answer.
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#65 |
2024 Pledge Member
Join Date: Mar 2007
Location: US
Posts: 3,824
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#66 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Nov 2015
Real Name: Grant
Location: U.S.
Watch: GMT 1675 PCG Gilt
Posts: 5,829
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My AD reached out last Christmas with a PM watch. I bought it because I wanted it… that was a market indicator. PM softens early.
AP reached out to me yesterday. Things are soft. Yes, high demand models are still hot. Most watches are softening and I see a lot of continued “bag holding.” It will continue to trend down, back to more realistic average levels, imo. I don’t have any vested interest in prices. My collection is stable and it’s not a speculative collection. I own and wear what I like. Fortunate to be able to do so. ![]() ![]() Just another WIS who loves to trade. @bladeandwatch1 on IG
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Just another WIS who loves to trade... |
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#67 |
Banned
Join Date: Nov 2023
Location: United Kingdom
Posts: 613
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#68 |
2024 Pledge Member
Join Date: Mar 2007
Location: US
Posts: 3,824
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bag holding?
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#69 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Nov 2015
Real Name: Grant
Location: U.S.
Watch: GMT 1675 PCG Gilt
Posts: 5,829
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LOL. I wondered if I was too vague. I see lots of Rolexes priced at points where I know they won’t sell. Prices are dropping. Whether it’s private owners like me or dealers, there is a lot of wishful thinking when setting asking price. It’s a buyers market, overall. “Bag holding” = Folks who bought in too high are holding and holding and hoping to lose as little as possible. I certainly took a hit selling some of mine, last year. Glad I got them sold, then. One example is a nice sub listed on TRF. I made a decent offer last fall. Only a few hundred apart. Seller decided to hold out for more money. Across the next 6 months, things have worsened and he will be forced to sell for less now than I offered back then. That scenario is the definition of “bag holding”. Just another WIS who loves to trade. @bladeandwatch1 on IG
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Just another WIS who loves to trade... |
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#70 | |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Nov 2015
Real Name: Grant
Location: U.S.
Watch: GMT 1675 PCG Gilt
Posts: 5,829
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Quote:
Fair enough. Just another WIS who loves to trade. @bladeandwatch1 on IG
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Just another WIS who loves to trade... |
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#71 | |
"TRF" Member
Join Date: Jun 2022
Location: Here and there
Posts: 493
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Quote:
I have been eyeing a Rolex two tone yellow gold at Far East plaza and it is very tempting. B&P full set but I feel like there still room for prices to be lower ![]() |
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#72 | |
"TRF" Member
Join Date: Sep 2017
Location: Southeast
Watch: 214270
Posts: 2,674
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Quote:
Just a few years ago you could walk into an AD and shelves were stocked with Rolexes for sale. I remember walking into an AD in st Thomas in 2016 and they had 5 Subs in the case plus 2 hulks. I tried one sub on and the SA immediately offered a 5% discount on it just to try and make a sale. I was the only tourist in the store and I politely declined What we are seeing now has not been the case forever and only death and taxes are guaranteed
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Never place your happiness on something you have or can physically acquire |
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#73 | |
"TRF" Member
Join Date: Jun 2013
Location: Here
Posts: 4,640
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Quote:
![]() Was shown this a week or two ago. Absolutely could have bought it on the spot. Things are certainly softening on PM. Sent from my iPhone using Tapatalk |
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#74 |
"TRF" Member
Join Date: Jun 2013
Location: Dallas, TX
Posts: 136
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Another thing I've noticed is that all of the "big" youtube watch channels that featured buying/selling rolexes and other high end watches have pretty much dropped off the radar/slowed with video production because views have greatly diminished.
I used to watch CRM on a regular basis and still kind of do, last night I looked at the overall views for their videos and confirmed that they (and a few others I checked) aren't getting the clicks/interest anymore. |
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#75 | |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Nov 2015
Real Name: Grant
Location: U.S.
Watch: GMT 1675 PCG Gilt
Posts: 5,829
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Quote:
I do like that reference! ![]() ![]() Just another WIS who loves to trade. @bladeandwatch1 on IG
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Just another WIS who loves to trade... |
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#76 |
2024 Pledge Member
Join Date: Jul 2024
Location: Canada
Posts: 13
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I lost quite a bit on the last 3 precious metal rolex I sold and they took time to move so I would say yes it did slow down.
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#77 | |
2024 Pledge Member
Join Date: Mar 2007
Location: US
Posts: 3,824
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Quote:
We should all go back to our AD’s now, not a phone call, but an in store visit to let our AD know we are still interested in a few pieces. They are saying our success rate should be much higher than past and probably very good. Why? They claim that grey market dealers are not buying from the back door of AD’s anymore. The watch market, they claim is dead and the grey’s are not stocking. So therefore more watches for us regular people coming in the front door. Now they are not saying that all AD’s were selling out the back door but lots of them. They “claim” that the AD has a 40% profit on the watch. In other words a $10,000 msrp piece costs the AD $6,000. Now when they were selling out the back door to the grey’s, the grey’s did not pay msrp, but thousands more. So as an example, the $10K watch cost the grey guys $14,000 and then the grey’s marked them up to us for $18,000 as an example or the most they could get. So you can see the incentive for the AD to sell the watch to the grey market rather than the retail client. Not only does the AD in the above example make $4,000 but also an additional profit from what the grey’s bought the watch for. Now that the grey guys are not knocking at the back door anymore, the AD is now servicing the people coming in the front door. It goes to figure. A few months ago, without any purchase history, my AD who I have been frequenting sold me the Sub LV. There will of course be hard to get pieces which include the Pepsi, SS Daytona and others. |
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#78 |
2024 Pledge Member
Join Date: Nov 2012
Real Name: Steven
Location: Glocal
Posts: 20,428
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by the numbers....
June 2024 was not a positive month for Swiss watch exports, impacted by two fewer working days and a more significant decline in Asian markets, with the notable exception of Japan. Exports amounted to 2.3 billion francs, a fall of 7.2% compared with June 2023. Six months into the year, the sector has shipped the equivalent of 12.9 billion francs abroad, representing a 3.3% reduction compared with the first half of last year. more info and PDFs with data at https://www.rolexforums.com/showthread.php?t=954019
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__________________ Love timepieces and want to become a Watchmaker? Rolex has a sensational school. www.RolexWatchmakingTrainingCenter.com/ Sent from my Etch A Sketch using String Theory. |
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#79 | |
"TRF" Member
Join Date: Jun 2013
Location: Here
Posts: 4,640
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Quote:
Totally agree. The strategy is sound. The average person doesn’t really understand the grey market and buying directly from Rolex makes more sense. Sent from my iPhone using Tapatalk |
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#80 | |
"TRF" Member
Join Date: Jan 2018
Location: USA
Posts: 386
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Quote:
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#81 | |
2024 Pledge Member
Join Date: Sep 2018
Location: U.S.A.
Watch: SD43
Posts: 3,209
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Quote:
People working from home, bored, killing time Sent from my iPhone using Tapatalk |
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#82 |
Banned
Join Date: Nov 2023
Location: United Kingdom
Posts: 613
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Just been to my AD to pick up the new magazine, so I thought I'd interrogate him.
Bottom line is, yes, the overall market is softening a little, but not by a major amount. They still have tonnes of people registered for watches, and it's essentially just a case of more phone calls now as the number of people rejecting allocations has picked up a little. Usually though no matter what watch, they find someone to buy it within a normal space of time, and for others, a lot of people being called are overjoyed. Some PM pieces sit for a little longer than they were a couple of years ago, but eventually, they find a home for themselves with someone, either by someone who's been eyeing it up for a while, or even occasionally just a walk-in. He also mentioned, there has been an uptick of their higher net-worth clients buying PM pieces on finance too, interestingly. He said the market is now showing its hand where the true collectors and buyers are rising to the surface and getting calls for what they want. The number of people buying for the so-called "wrong" reasons is now vastly reduced, also - those people now stand out like a sore thumb more than they ever did before. Walk-in buys are a lot more common in recent months, with a bunch of sales of random "non-allocation" pieces still being sold very regularly, and watches are still being collected by customers daily. My SA continues to be surprised to see that people still just walk in and buy an Omega there and then, and it's more common that you think. For them, from an AD perspective, it's business as usual, just with a slight overall downturn of around 2-3% on the year so far. From the horses mouth. |
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#83 | |
2024 Pledge Member
Join Date: Mar 2007
Location: US
Posts: 3,824
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Quote:
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#84 |
Banned
Join Date: Nov 2023
Location: United Kingdom
Posts: 613
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Hahaha
I've spoken to him about this before. He's openly stated to me that while he can't really talk for smaller, independent stores, but he knows that happens occasionally. He mentioned it is mostly something made up by embittered individuals who think the world owes them something, and come up with old wives tales to make them feel better about the situation, and that it's mostly bollocks. Grey dealers are not welcome in the store, and if Rolex UK management knew about it happening, they would come down on them like a tonne of bricks, along with misconduct grievances from their own employers. And I tend to agree. I don't believe for a minute that the majority of ADs are backdooring high-demand pieces out of the back door to grey market dealers. People just like to think they do. |
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#85 |
"TRF" Member
Join Date: May 2012
Real Name: Gareth
Location: Surrey, UK
Watch: AP/Rolex
Posts: 2,211
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#86 |
2024 Pledge Member
Join Date: Mar 2007
Location: US
Posts: 3,824
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front, back and side-doors
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#87 | |
"TRF" Member
Join Date: Feb 2024
Location: UK
Posts: 167
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Quote:
Guess its just a numbers game with Supply V Demand. Rolex will have an interesting job on their hands judging the supply as more new and secondary pieces come onto the market whilst at the same time the hype train dies down. |
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#88 |
"TRF" Member
Join Date: Sep 2022
Location: USA
Posts: 52
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Yes.
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#89 | |
Banned
Join Date: Nov 2023
Location: United Kingdom
Posts: 613
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Such an insight! Thank you for your contribution!
![]() Quote:
My SA mentioned that right now, it really doesn't matter because they have lists of 500+ people for certain watches and they're still taking registrations down constantly, even now. He also added it's been nice to be now able to ring people who have been registered for rather a long time, and their responses have been interesting, some are delighted, others have already bought on the secondary market and others just plain say no. However, I did say to him that it's ironic that the people who have been on the "list" the longest are the last ones to get the call when times are a touch harder, to which he laughed a little awkwardly. This suggests that things probably aren't all roses, and I imagine their bosses are coming down harder on them. Which, to be honest, is a good thing. They need to learn how to actually sell now, whereas before, they may as well have been taking orders at McDonalds, no selling involved, in the traditional sense at least. |
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#90 |
"TRF" Member
Join Date: May 2012
Real Name: Gareth
Location: Surrey, UK
Watch: AP/Rolex
Posts: 2,211
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