Top of market pricing - regrets, resale?

[CHRONOLEX]

Originally Posted by TswaneNguni

I woke up one day as a 12 year old and decided I liked it .
Started buying at age 31,my first one ,because that's when I could borrow money from my wife .. (true story)
After that I could afford it myself .
(Her collection is quite special too.)

Same! Got my first at 14! Life long enjoyment for myself and family.

[CHRONOLEX]

Originally Posted by TswaneNguni

because that's when I could borrow money from my wife

Well same except for this part.

[rolexpatek363]

Originally Posted by David001

My comment about my watches disappearing into the river was simply a point to say that if they go up or down in value it's not important to me, I'd only mourn the loss of the watches and not the money, because unlike you I don't see my watches as just $$$$

Your problem is that you're stuck with a 5712 that you've admitted that you're out of your depth on and now you can't sell it because the market has collapsed, so you stalk this forum and you're in every one of these threads obsessed with trying to convince people that prices aren't dropping.

You're like King Canute trying to hold back the tide.

Hi bud, the 5712 I'm stuck with is currently valued at +579% of its purchase price, and this is a very happy place indeed for me to be stuck in, thanks. Since I have no pressing need to liquidate any potential profit, I'm not about to do so.

Many other watches in my collection have devalued. Swings & roundabouts: watches for me are not an investment vehicle, I just got lucky with a couple of them, having bought well before the watches attained greater popularity and price increases began. Dumb luck, I'm not a guru!

[Chiboy]

I think when you get off the forums (and I don't know but imagine TRF is attracting the worst of this), you will IMO find:

1) Most Rolex owners don't notice and fret over every little hairline scratch and other signs of (gulp) actual usage

2) Most Rolex owners don't follow aftermarket pricing and have no idea that their watch topped out at $xxxxx two months ago and is now down 9.374%

3) Most Rolex owners would be as unlikely to consider selling a watch they enjoy wearing and hopefully buying it back cheaper once the market declines as they would to melt their wedding band for its gold value and then have a new one made when gold prices decline.

4) Most Rolex owners would no sooner plan a new Rolex purchase as they walk out of the store with their latest watch than they would formulate a game plan to trade in their new car for a better model while they are signing the paperwork at the dealership.

That said, buy a watch to have it sit in a safe if it makes you happy! Sell your watch if you think of Rolexes as an "alternative investment" like you might a hedge fund or high yield lending. Buy a watch based on what you think will be most popular and most sought after in the future rather than what you like, if it makes you happy! Calculate your ROA or ROE on your watch collection daily if you're interested and believe you know selling prices.

Me, I'm going to continue to enjoy the Daytona I got 5 1/2 years ago and not worry about whether I can wear it into a Wal-Mart if I get stuck going to one.

[DaMostHigh]

Wow

[Lamontsanders]

Get what you like. If you have the means to get it, and it’s worth it to you, then do it. If you don’t like something you have anymore move it on.

[Mystro]

Originally Posted by Lamontsanders

Get what you like. If you have the means to get it, and it’s worth it to you, then do it. If you don’t like something you have anymore move it on.

O.k don’t confuse the issue with your labyrinth of truths and simplistic common sense advise as you will just confuse many.

[kgglonghorn]

Originally Posted by CHRONOLEX

I think you understand the point of my post. It wasn't an invitation to compare net worth's and ability to not GAF about losing money. I was asking a simple question, which is if you recently bought watches at a huge premium over retail and aren't wearing them, is anyone thinking about selling them?

I made a post in the Patek section about something similar. I bought a 5167A for about $50k last summer, never wore it, prices went way up and have started to come back down. Before they fell any farther, while I was still in the money, I decided to trade it for a new WG Smurf that I came across plus cash back. Good trade for me.

See, innocent topic for conversation.

unfortunately, out here there is no such thing as innocent conversation. People sit out here like snipers just waiting to roast pretty much anyone with a point of view.

[RUSH2689]

Originally Posted by kgglonghorn

unfortunately, out here there is no such thing as innocent conversation. People sit out here like snipers just waiting to roast pretty much anyone with a point of view.

How dare you bring that sniping conjecture into this thread!!!!

[TheWatchmen]

Originally Posted by kgglonghorn

unfortunately, out here there is no such thing as innocent conversation. People sit out here like snipers just waiting to roast pretty much anyone with a point of view.

Pew pew!

[amh]

Originally Posted by Chiboy

I think when you get off the forums (and I don't know but imagine TRF is attracting the worst of this), you will IMO find:

1) Most Rolex owners don't notice and fret over every little hairline scratch and other signs of (gulp) actual usage

2) Most Rolex owners don't follow aftermarket pricing and have no idea that their watch topped out at $xxxxx two months ago and is now down 9.374%

3) Most Rolex owners would be as unlikely to consider selling a watch they enjoy wearing and hopefully buying it back cheaper once the market declines as they would to melt their wedding band for its gold value and then have a new one made when gold prices decline.

4) Most Rolex owners would no sooner plan a new Rolex purchase as they walk out of the store with their latest watch than they would formulate a game plan to trade in their new car for a better model while they are signing the paperwork at the dealership.

That said, buy a watch to have it sit in a safe if it makes you happy! Sell your watch if you think of Rolexes as an "alternative investment" like you might a hedge fund or high yield lending. Buy a watch based on what you think will be most popular and most sought after in the future rather than what you like, if it makes you happy! Calculate your ROA or ROE on your watch collection daily if you're interested and believe you know selling prices.

Me, I'm going to continue to enjoy the Daytona I got 5 1/2 years ago and not worry about whether I can wear it into a Wal-Mart if I get stuck going to one.

I love it!

The only problem is that today we have a lot of "Rolex buyers" but not a lot of "Rolex owners." We're still in somewhat of a Tulip craze:

https://en.wikipedia.org/wiki/Tulip_mania

I for one welcome this cooling off trend in the market.

[samuel019]

Originally Posted by amh

I love it!

The only problem is that today we have a lot of "Rolex buyers" but not a lot of "Rolex owners." We're still in somewhat of a Tulip craze:

https://en.wikipedia.org/wiki/Tulip_mania

I for one welcome this cooling off trend in the market.

Perfect way to sum it all up IMO

Buyers vs owners. Massive distinction between the two and I’m with you. I welcome a even more cooling off trend.

[steeevvvooo]

Originally Posted by Chiboy

I think when you get off the forums (and I don't know but imagine TRF is attracting the worst of this), you will IMO find:



1) Most Rolex owners don't notice and fret over every little hairline scratch and other signs of (gulp) actual usage



2) Most Rolex owners don't follow aftermarket pricing and have no idea that their watch topped out at $xxxxx two months ago and is now down 9.374%



3) Most Rolex owners would be as unlikely to consider selling a watch they enjoy wearing and hopefully buying it back cheaper once the market declines as they would to melt their wedding band for its gold value and then have a new one made when gold prices decline.



4) Most Rolex owners would no sooner plan a new Rolex purchase as they walk out of the store with their latest watch than they would formulate a game plan to trade in their new car for a better model while they are signing the paperwork at the dealership.



That said, buy a watch to have it sit in a safe if it makes you happy! Sell your watch if you think of Rolexes as an "alternative investment" like you might a hedge fund or high yield lending. Buy a watch based on what you think will be most popular and most sought after in the future rather than what you like, if it makes you happy! Calculate your ROA or ROE on your watch collection daily if you're interested and believe you know selling prices.



Me, I'm going to continue to enjoy the Daytona I got 5 1/2 years ago and not worry about whether I can wear it into a Wal-Mart if I get stuck going to one.

Excellent post. Sums up much of how the WIS world "should" think about the hobby, (albeit it in my narrow mind...) and while many do, I fear the majority here do not :(

Sent from my SM-S901B using Tapatalk

[Lamontsanders]

Originally Posted by Mystro

O.k don’t confuse the issue with your labyrinth of truths and simplistic common sense advise as you will just confuse many.

Seriously. People overthink this. If you want something and you can get it…get it. These aren’t stocks. These are luxury goods.

[David001]

Originally Posted by rolexpatek363

Hi bud, the 5712 I'm stuck with is currently valued at +579% of its purchase price, and this is a very happy place indeed for me to be stuck in, thanks. Since I have no pressing need to liquidate any potential profit, I'm not about to do so.

I agree, first world problems, but let's be honest, you previously stated that you're holding on and waiting for peak prices so that you can sell for maximum profit. Unfortunately that window has closed and now you'd get 50% of what you think it's worth from your C24 pricing, and it's only going to drop more.

With the benefit of hindsight you have to agree that I gave you good advice back when we first engaged on this subject, so don't shoot the messenger.

I think it may take up to a decade before it's back up at those prices again.

[eijiboy]

DSW meteorite gmt suddenly dropped from 98k to 79k.

[CHRONOLEX]

Interesting. Holding firm on DD and Daytona I see.

[eijiboy]

Originally Posted by CHRONOLEX

Interesting. Holding firm on DD and Daytona I see.

Meanwhile in fb group. It dropped again




Sent from my iPhone using Tapatalk

[CHRONOLEX]

Feels like some of these dealers are maybe kind of deep into these pieces they’ve been holding for awhile and trying to lighten up quickly to free up liquidity, at same time demand is down. Some price retreat looking for bid, question is where do buyers feel comfortable stepping in. I think dealers hoping C24 asks are market so retail guy will feel like he’s getting a good deal just inside.

[rolexpatek363]

Originally Posted by David001

I agree, first world problems, but let's be honest, you previously stated that you're holding on and waiting for peak prices so that you can sell for maximum profit. Unfortunately that window has closed and now you'd get 50% of what you think it's worth from your C24 pricing, and it's only going to drop more.

With the benefit of hindsight you have to agree that I gave you good advice back when we first engaged on this subject, so don't shoot the messenger.

I think it may take up to a decade before it's back up at those prices again.

We have different opinions on the direction of values. I think this dip is a temporary hiatus, and I'm not convinced that prices are collapsing wholesale. The value has recently stopped falling and I think it will spike again when the watch is discontinued this winter.

The reality is that we are both guessing, so let's wait a year and see who is right.

I think there's a ton of wishful thinking about the market going on at the moment. Because of the risk of fakes, facebook is the last place I'd buy a Rolex, so I regard fb pricing as irrelevant noise.

[rolexpure]

Everyone is saying super hyped pieces have dropped the most. I think that is correct as pieces like the BLRO, SS Daytona, John Mayor Daytona and even the full RG CHNR have dropped enormously.

My business partner purchased a full RG CHNR for $68k I think 3-4 months ago. Now I'm trying to sell mine and I'm getting offered like $48k-$50k for mine between 8 gray dealers and 4 of them outright said no they are not buying any Rolex at the moment.

There is no real urgency to sell mine right now but dont want to be selling for $40k if it drops even further.

Would you guys trade a RG CHNR for a WG 126619LB sub? The WG was already weak and I think right now even weaker.

Whats the offer price on the WG 126619LB these days on Moda or any of the chat groups?

[Chris]

Originally Posted by rolexpure

Everyone is saying super hyped pieces have dropped the most. I think that is correct as pieces like the BLRO, SS Daytona, John Mayor Daytona and even the full RG CHNR have dropped enormously.

My business partner purchased a full RG CHNR for $68k I think 3-4 months ago. Now I'm trying to sell mine and I'm getting offered like $48k-$50k for mine between 8 gray dealers and 4 of them outright said no they are not buying any Rolex at the moment.

There is no real urgency to sell mine right now but dont want to be selling for $40k if it drops even further.

Would you guys trade a RG CHNR for a WG 126619LB sub? The WG was already weak and I think right now even weaker.

Whats the offer price on the WG 126619LB these days on Moda or any of the chat groups?

Some people will tell you this is not the place to seek pricing advice and to do your own research and check out these groups yourself.

[TswaneNguni]

Originally Posted by rolexpure

Everyone is saying super hyped pieces have dropped the most. I think that is correct as pieces like the BLRO, SS Daytona, John Mayor Daytona and even the full RG CHNR have dropped enormously.

My business partner purchased a full RG CHNR for $68k I think 3-4 months ago. Now I'm trying to sell mine and I'm getting offered like $48k-$50k for mine between 8 gray dealers and 4 of them outright said no they are not buying any Rolex at the moment.

There is no real urgency to sell mine right now but dont want to be selling for $40k if it drops even further.

Would you guys trade a RG CHNR for a WG 126619LB sub? The WG was already weak and I think right now even weaker.

Whats the offer price on the WG 126619LB these days on Moda or any of the chat groups?

You're not really a Rolex wearer are you ?

[Sandpit]

Originally Posted by rolexpure

Everyone is saying super hyped pieces have dropped the most. I think that is correct as pieces like the BLRO, SS Daytona, John Mayor Daytona and even the full RG CHNR have dropped enormously.

My business partner purchased a full RG CHNR for $68k I think 3-4 months ago. Now I'm trying to sell mine and I'm getting offered like $48k-$50k for mine between 8 gray dealers and 4 of them outright said no they are not buying any Rolex at the moment.

There is no real urgency to sell mine right now but dont want to be selling for $40k if it drops even further.

Would you guys trade a RG CHNR for a WG 126619LB sub? The WG was already weak and I think right now even weaker.

Whats the offer price on the WG 126619LB these days on Moda or any of the chat groups?

You know, you could do the unthinkable and just wear the damn thing

[agsstructures]

Originally Posted by rolexpure

Everyone is saying super hyped pieces have dropped the most. I think that is correct as pieces like the BLRO, SS Daytona, John Mayor Daytona and even the full RG CHNR have dropped enormously.

My business partner purchased a full RG CHNR for $68k I think 3-4 months ago. Now I'm trying to sell mine and I'm getting offered like $48k-$50k for mine between 8 gray dealers and 4 of them outright said no they are not buying any Rolex at the moment.

There is no real urgency to sell mine right now but dont want to be selling for $40k if it drops even further.

Would you guys trade a RG CHNR for a WG 126619LB sub? The WG was already weak and I think right now even weaker.

Whats the offer price on the WG 126619LB these days on Moda or any of the chat groups?

I would trade it for a WG Sub, this is coming from someone who only wears WG in PM. Moda pricing is ~$45k for a new one .

[Fifteen]

I hope these gray dealers lose all their money and go bankrupt

[TswaneNguni]

Originally Posted by Fifteen

I hope these gray dealers lose all their money and go bankrupt

That's a bit harsh .
Grey dealers are a pre-owned dealers .
They only charge ,what someone is willing to pay .Demand vs supply dictates pricing.
They serve their function as pre-owned dealers.Thats their real function .

The real culprits are a few ADs selling out of the back and the awful flipper man ,then the buyers at 2-3x MRSP .

Personally ,I LOVE these people .All of them .
They keep my collection's value high .

There is always a positive .

[rolexpatek363]

Originally Posted by rolexpure

Everyone is saying super hyped pieces have dropped the most. I think that is correct as pieces like the BLRO, SS Daytona, John Mayor Daytona and even the full RG CHNR have dropped enormously.

No, not everyone is saying this, it's actually you and a handful of other recent TRF joiners. Anyone might think you are trying to manipulate the market.

No Rolexes have dropped "enormously", there has been a slight cooling of prices over the past few weeks, around 5% on some models. Most Rolexes are still going up, as they have always tended to do over the long term.

If you are worried about losing money, don't invest in watches or cars (except rare ones).

[rolexpatek363]

Originally Posted by Fifteen

I hope these gray dealers lose all their money and go bankrupt

Dealers can't control demand.

[Divingdeep87]

Originally Posted by TswaneNguni

You're not really a Rolex wearer are you ?