Greys not budging, just tried

[AbsolutelyROLEX!]

Just tried to make an offer on a 116500 on chrono24
$19795 listed
Will not go any lower, even when mentioning 800 others listed
I dont know guys, I think everybody is going to hold out

[scottwmitch]

Thanks for the update. If you don't mind me asking, was your offer close or was it significantly lower?

[Phooi]

Originally Posted by AbsolutelyROLEX!

Just tried to make an offer on a 116500 on chrono24
$19795 listed
Will not go any lower, even when mentioning 800 others listed
I dont know guys, I think everybody is going to hold out

Was it white or black? Thanks.

[Michael V]

The reality of the situation hasn't hit them completely yet. We are still in shock mode.

[AK797]

If they can hold on they will hold on, with severe lockdowns in place this thing could start to turn in a couple of months, esp with public perception as the initial fear over this virus will have dissipated and the economist's voice will start to trump the medic's. With everyone now committed to combating this virus, this looks like a shorter term micro issue than a long term macro issue.

[Bigblu10]

Originally Posted by AbsolutelyROLEX!

Just tried to make an offer on a 116500 on chrono24
$19795 listed
Will not go any lower, even when mentioning 800 others listed
I dont know guys, I think everybody is going to hold out

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.

[garyk]

They can probably hold steady for months. Supply on a global scale isn't huge IMHO...This might all be over by the time they would have to sacrifice inventory...Just my two cents...

[AbsolutelyROLEX!]

It was a black
I just asked what his lowest would be

[NeoAnderson]

Maybe there part of the bail out

[Shaggy69]

Think this is going to last longer than what ppl think.....the economic consequences will be huge but they won’t be really felt until this pandemic and lockdown is over, recession will hit hard...with many places closed down due to lockdowns world wide there’s plenty of workers loosing out on wages and business owners loosing on takings and cost...

[gregouille]

I talk with a grey based in Paris and he told me that sale are great at the moment ! (maybe he lied to me)
I think it's still strong now because nothing (really) changed for people now because it's been for 2 weeks.
But in 3 months it will be a different story I suppose...

[Hollie_Rollie]

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.

I think once the virus has run its course and we’re getting back to normalcy AND there’s still much less interest in the BLROs, Daytona’s, Hulks...then it’ll come crashing down

The greys are holding out bc they think it’s just the virus that’s causing this

[WatchNutcase]

This hasn't really hit us economically yet, give it 1 month.

[WatchNutcase]

Originally Posted by gregouille

I talk with a grey based in Paris and he told me that sale are great at the moment ! (maybe he lied to me)
I think it's still strong now because nothing (really) changed for people now because it's been for 2 weeks.
But in 3 months it will be a different story I suppose...

I would guess he's lying. Something like this can be a massive shock to a business and they can be in denial mode, and actually be angry to admit sales are not doing well.

Then again the real economic situation hasn't really hit business yet, give it another 1-2 months.

[Geckobros]

As a buyer, I have nothing to lose by waiting.

[DBlue2018]

He may not be able to drop much less and is still trying to turn a profit

Just bide your time, play it cool and they will drp

[hark]

Originally Posted by AbsolutelyROLEX!

It was a black
I just asked what his lowest would be

Dealer probably doesn’t want to negotiate against himself. Many dealers simply won’t respond to ‘what’s your lowest prices’ inquiries. You’d need to offer him a number that you’re willing to pay, and if he says yes you really should buy..

[singe89]

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.

Agree and I don't think the recovery will be an instant bounce back so it will put more pressure on them over the coming months.

Also ALL Greys with inventory would have to hold out. As soon as a couple start lowering prices the rest will have to follow or just sit on stock that no one will buy hoping pricing get back to an all time high.

[schoolboy]

Originally Posted by AbsolutelyROLEX!

It was a black
I just asked what his lowest would be

Asking what the lowest will be doesn’t usually work

Maybe you can message him/her and say “hey I can offer $19,000”

Something like that might work

[The Argonaut]

Originally Posted by AbsolutelyROLEX!

It was a black
I just asked what his lowest would be

That rarely works. Make an offer: go in at $18k and see where the discussion goes.


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[Flintstone]

Grey's aren't hurting.....especially with a large number of Ad's shutdown.

[schoolboy]

Originally Posted by hark

Dealer probably doesn’t want to negotiate against himself. Many dealers simply won’t respond to ‘what’s your lowest prices’ inquiries. You’d need to offer him a number that you’re willing to pay, and if he says yes you really should buy..

Agree


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[AbsolutelyROLEX!]

Just made an offer of 19k....

[superstarmar]

Originally Posted by AbsolutelyROLEX!

It was a black
I just asked what his lowest would be

A lot of dealers will not respond or give
you their lowest price. Decide on a legit
reasonable offer you’re willing to pay and
see what happens...
I’ve seen countless dealers
address this “ What’s your lowest price “ term .

Clearly they say they will not respond or reply to such
questions... Good Luck!

[superstarmar]

Originally Posted by AbsolutelyROLEX!

Just made an offer of 19k....

That’s more like it ... hope they will accept your offer.

[VacherObsessive]

When I was selling 2 of my pieces I would ignore “what’s your lowest price” messages.
When I had people ask what my best price was id ask them to link me to a lower price full set still in rolex service warrantee and id consider bettering it. (As mine was the lowest on chrono24 and a better set than anything even close to my price). Eventually both sold for asking price, and I met in the middle on delivery costs.

I did have people make me offers and I considered them and made counter offers, all ended up being dreamers and tire kickers. I would hate to be a watch dealer just after those 2 sales. Major major hassle dealing with the general public, you never realise how many stupid or time wasting people are out there until you give it a shot !
Was worth it compared to selling to a dealer direct though (which offered £1500 less than I actually sold them for, After chrono24 commission !)

So please moral of the story is, please don’t waste the sellers time ! Selling watches is an agonising process

[carwashchris]

Originally Posted by Geckobros

As a buyer, I have nothing to lose by waiting.

X1

Capitulation is coming.

[hark]

Also, dealers that purchased their inventory with a credit line will need to be more negotiable.

“Only When The Tide Goes Out Do You Discover Who’s Been Swimming Naked.” Warren Buffett

[Marcjvr]

Originally Posted by geckobros

as a buyer, i have nothing to lose by waiting.

+1

[djyolky]

Just wait to see what will happen as the end of April approaches. Pants will start dropping.

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