Greys not budging, just tried

[cdmorenot]

... how much dirty money can be laundered through holding out and “selling” a Daytona for $45K ?

Not necessarily saying anyone is guilty of this but man, what an opportunity to some. Does Chrono24 run OFAC checks ?


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[GoingPlaces]

Originally Posted by subdownunder

Anyone thinking this is a micro economic issue is dreaming.
I spoke to a Hong Kong dealer in high end used handbags and she said that a month ago she was able to buy LV etc bags used at low prices as people were desperate to offload them to raise cash.
Only problem is she now has a lot of stock that isn’t moving and prices are collapsing.
This is going to be the Rolex story in a couple of months.
Buyer psychology’s changed, wealth has been destroyed and the USA which has more poor destitute people and an inferior health system to Europe is only a couple of weeks away from the tsunami that hit better prepared European countries.
Rolex pricing?
Look out below!

94 posts since 2008 and this is what you offer.

Idiotic statement. EU has nearly 400K cases.

[GoingPlaces]

Originally Posted by Mystro

Your kidding right???
The United States is the world's largest economy by a comfortable margin with a GDP of approximately $20.513 trillion, notably due to high average incomes, a large population, capital investment, low unemployment, high consumer spending, a relatively young population, and technological innovation.

To put in perspective Walmart company alone would be the worlds 24th largest GDP.

Right, and California alone is the fifth largest economy in the world. Texas and New York are also in the top fifteen economies in the world.

[Andy C]

I would love to see grays suffer. And suffer miserably.

[Muxi]

Originally Posted by c41006

This! When I'm selling something and someone asks "what is your lowest price?" I always respond with the price I listed. If you want to make me an offer, make me an offer but don't ask what my best price is.

Agree. If you give a lower amount he will just haggle from that lower amount. I do that. But I’m also ready to throw a specific number when asked.

[djyolky]

Originally Posted by spacebjorn

As buyers we should also curb our temptations and not buy as soon as we see it come down in the -15% range..

If we all hold out a bit longer we can probably get them closer to retail

Most likely schmucks who can't wait will go after it like dogs though... because rolex marketing

Or.. Here's a thought... Only buy msrp at an AD. I know, what a concept.

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[enjoythemusic]

Originally Posted by DayTona78

curious to read/hear your thoughts on this! what exactly would you get into, if out of USD and other currencies? ty

agree with you on the Central Bank infusions and the artificial state of health it generates for the economy.

Originally Posted by schoolboy

Hi Steven, can you please send me a PM
expanding on this. I am not sure what you are talking about but I want to know.

Thanks.

The financial Dominos are big here... we haven't even seen 20% of the real hurt that's coming imho. Currencies are unlimited in qty, as the Fed has said recently. It's obvious they are making the rules up as needed, yet at some point there will be reality. History proves manipulated bubbles don't end well.

Stay safe and SMART, it's going to be a very bumpy ride. Yet yes, I'd keep minimal currency needed for operations with a bit of headroom for common sense. All else to intrinsic value items, some that are very liquid if/as needed.

It has been impressive the many trillions that suddenly became available. Just wish it went to education and the arts during good times.

jmho ymmv

[spacebjorn]

Originally Posted by djyolky

Or.. Here's a thought... Only buy msrp at an AD. I know, what a concept.

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Easier said than done. I would gladly buy a BLNR or DaytonaC at my local AD's if they didn't force me to buy a DJ, a PM DJ and a ladies DJ for my wife. Yea I'm looking at you Montecristo, Lugaro, and Rolex Boutqiue.

[Muxi]

Originally Posted by DBlue2018

You’re telling someone to back out of an offer they have made and had accepted?

Isn’t that ungentlemanly

I feel he is overpaying but I’d rather be true to my word

This. I have made perceived mistakes negotiating but I always honor my offer. It the right thing to do.

[djyolky]

Originally Posted by Mystro

Your kidding right???
The United States is the world's largest economy by a comfortable margin with a GDP of approximately $20.513 trillion, notably due to high average incomes, a large population, capital investment, low unemployment, high consumer spending, a relatively young population, and technological innovation.

To put in perspective, the Walmart company alone would be the worlds 24th largest GDP.
There is plenty of wealth even in the worst of times for enough Americans to still buy luxury goods.

And to further your point, if California was a sovereign nation/country, it would have the 5th largest economy in the world.

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[Tha Baron]

Originally Posted by djyolky

And to further your point, if California was a sovereign nation/countey, it would have the 5th largest economy in the world.

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And likely the award for most bankrupt...

[OIH]

Was offered a brand new BLRO from a reputable grey for $15,750. The market is soft.

[Leewae91]

nothing to lose by waiting, cash is king.

[djyolky]

Originally Posted by spacebjorn

Easier said than done. I would gladly buy a BLNR or DaytonaC at my local AD's if they didn't force me to buy a DJ, a PM DJ and a ladies DJ for my wife. Yea I'm looking at you Montecristo, Lugaro, and Rolex Boutqiue.

The day before nin essential businesses closed down in California, I received an email from a local AD that a no date submariner came in and it was mine if I wanted it.

I was on this ADs list since last July. No purchase history. I politely turned it down (I have an Explorer) and while I would like a Sub, a BLNR would suit me better. Also, I'm on a BLNR list with the AD that I purchased my Explorer through.

Point is, I don't believe my number just came up at this AD for that Sub. People have lost quite a large sum (at least on paper) in their investment accounts. My thought is this: The small time flippers (the ones between the ADs and the trusted sellers, let's take that segment of the market for example), that got into this Rolex game to make a quick buck, won't last in this economy. Those same small time flippers/non-watch enthusiasts will be the ones to turn down that AD msrp offer now.

TLDR - just another opinion

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[jlovda]

Originally Posted by Bigblu10

Hold out for how long?
The USA economy is now going to be shut down until May.
Let's see how long these watch dealers can go with no cash flow and just sit on inventory collecting dust.

The country may be shut down until May but the Market seems to think we have hit and passed the bottom. It's looking six months out. Wall Street may be feeling better.

[thomaspp]

Dealers don’t want to sell at a loss because they bought to high. Try selling a dealer a 116500 or Pepsi now and you will see where the new “buy” price is lol


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[djyolky]

Originally Posted by Tha Baron

And likely the award for most bankrupt...

That's cute. Let's make America great again, shall we?

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[Tha Baron]

Originally Posted by djyolky

That's cute. Let's make America great again, shall we?

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At least I didn’t pick on you for referring to California’s sovereignty

[sya]

greys will not make a sudden drop in prices. price drops will start with the end users who will start to think, at this current situation, cash is better than having multiple watches. people will start to liquidate some of their watches for cash. and the more people decide to do that, supply will also increase in the secondary market. and you'll be able to buy pre owned watches at good prices, esp those being sold above retail prices

[jlovda]

I'll bet a large number of REALLY good fakes will come out of the woodwork being sold by people "desperate not to lose their homes."

[ROLEXster]

Be patient ... wait a few months.
This recession just started, people are not feeling it yet.
It will turn into a depression. Then you will see cheap deals.

Imagine a guy will 3 houses.
Their renters can't pay rent.
He can't pay mortgage for a few months.
His business is shut down, no income / no work.
Things are not desperate yet. Just wait and see.

Cash is king.
Smart people already made a bunch from the stock market last week.
Ready to buy when the time is right.

[Theoffice]

Hot Rolex models won’t drop in price , ppl dreaming! Although a nice dream,
The last financial crisis and everything was fine, what goes down comes back up,

[subdownunder]

Originally Posted by GoingPlaces

94 posts since 2008 and this is what you offer.

Idiotic statement. EU has nearly 400K cases.

I post intermittently as I believe that an empty vessel makes the most sound.
Secondly, I have the justifiable opinion that this is not a blip in the market, I live and travel extensively overseas and communicate with a number of friends in other countries.
The evidence is that the luxury market in the countries driving the inflation in prices (the US is just a side player in this) is taking a dive, particularly in SE Asia. Luxury goods are not selling and the market is becoming saturated with used products as people liquidate.
Watches will be next.
And in relation to the US situation, where exactly am I wrong.

Are you saying the US has an integrated well supplied health system that offers high quality care to everyone at risk including the homeless and destitute? (like Germany, UK or France).
That the US does not have a significant problem with poverty and homelessness that could become significant pockets of infection and contagiosity? (think Los Angeles, SF or Seattle?) or that the US is not fast becoming the epicentre of the SAR-Covid-19 with exponential infections and a mortality rate conservatively estimated to reach over 200,000?

While I can understand that you my feel my post is an attack on the US and come to its defence, facts are facts. This is not a micro issue, buyer psychology will change to frugality after this and luxury goods like watches will take a big hit as the debt levels of individuals, businesses and the state are exposed and paper wealth destroyed. when financial survival is the new norm a watch is going to be the least of our desires.

[faimag]

I guess than when "reality" hits some or most sellers (it certainly won't hit all in the same way), it will also hit some or most buyers... Unless you had the cash to buy a watch stashed away in your socks before CoViD, I doubt anybody would cash out stock or bonds or whatever right now, or in a few months for that matter, to buy a watch. People here talk as if their purchasing power will stay the same.

[subdownunder]

Originally Posted by GoingPlaces

Right, and California alone is the fifth largest economy in the world. Texas and New York are also in the top fifteen economies in the world.

Also up there with the highest debt loads in the world

[AJMarcus]

I’m not surprised. I think that the Daytona C is the last piece anybody would discount. It is the one model where supply does not meet demand naturally. Historically the SS Daytona has always been the hardest piece to obtain. Even Rolex won’t amp up production on the Daytona because that’s their grail piece and they know it.

[AbsolutelyROLEX!]

Ok guy, just to clarify
I worded my offer in a “just out of interest” way
I was just testing the waters to see where things are at, and reporting my findings for your information....

[Cloudchaser]

Originally Posted by AbsolutelyROLEX!

Ok so they accepted 19k
Wonder if they would have gone lower

Seems like an offer and the accepting of said offer.

[Cloudchaser]

Originally Posted by AbsolutelyROLEX!

Just made an offer of 19k....

Sounds like an offer.

[worldofoyster]

just a matter of time