Lots of Pre-Owned at Hodinkee

[mmbiker]

I recall seeing Rolex out of stocks in Hodinkee but was surprise to see there are tons in stock right now!

I guess is true, the market is slowing down!


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[rolexgs]

not surprised, it's been slowing for quite a while.

[Notepad12]

You know it's slow when Watchfinder are reducing prices and not offering to buy the majority of new hot models

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[AJMarcus]

It’s certainly slowing but I’m finding many grays are reluctant to lower their asking prices to meet this reality. I suspect they are still trying to recoup the high price they paid when the bubble was much higher. This should change when they realize the secondary gray market is in free fall .

[Notepad12]

Originally Posted by AJMarcus

It’s certainly slowing but I’m finding many grays are reluctant to lower their asking prices to meet this reality. I suspect they are still trying to recoup the high price they paid when the bubble was much higher. This should change when they realize the secondary gray market is in free fall .

Trying to keep up the illusion that the grey market isn't slowing at all costs on the sale end of things, while low balling/refusing/offering consignment for new hot models

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[AJMarcus]

Originally Posted by Notepad12

Trying to keep up the illusion that the grey market isn't slowing at all costs on the sale end of things, while low balling/refusing/offering consignment for new hot models

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Exactly. Those smart gray dealers that anticipated the new reality are slowly lowering prices. But the majority as you say are still holding to an illusion hoping consumers will return to buying at crazy high prices. I personally don’t think that will happen. The watch “investors” got hit with the hard reality that watches overall are a poor investment. Most cashed out to the grays who now sit with loads of inventory. And enthusiasts who just love watches know how much they should pay for a piece and are unwilling to pay over retail for a used date-just or double for a twenty year old over polished Daytona .

[rolexgs]

Originally Posted by AJMarcus

It’s certainly slowing but I’m finding many grays are reluctant to lower their asking prices to meet this reality. I suspect they are still trying to recoup the high price they paid when the bubble was much higher. This should change when they realize the secondary gray market is in free fall .

yes, the grey dealer davidsw, still listing an unworn panda for 40k on their website. it's absurd, way way overpriced.

[RichardBartlett]

Originally Posted by AJMarcus

It’s certainly slowing but I’m finding many grays are reluctant to lower their asking prices to meet this reality. I suspect they are still trying to recoup the high price they paid when the bubble was much higher. This should change when they realize the secondary gray market is in free fall .

The classifieds here show how much greys and 'ordinary folk' are reluctant to accept the market is falling

[2thdock]

Crown and Caliber were offering $500 off Rolex too.

[BSG75]

Originally Posted by 2thdock

Crown and Caliber were offering $500 off Rolex too.

Just a PSA. I sold my Tudor Black Bay to Crown an Caliber back on June 6th and I'd still awaiting payment. Evidently they're having some kind of "accounting issue," according to their client services manager.

Of course the reply came after multiple emails and a phone call to CC.

[Mathematoxic]

Originally Posted by BSG75

Just a PSA. I sold my Tudor Black Bay to Crown an Caliber back on June 6th and I'd still awaiting payment. Evidently they're having some kind of "accounting issue," according to their client services manager.

Of course the reply came after multiple emails and a phone call to CC.

Omg 1 month and still no payment? This is completely unacceptable. You need to do something about it

[996marty]

Enjoy the stock levels while you can because in time they’ll probably revert back to the norm

[jfmiii]

Originally Posted by 996marty

Enjoy the stock levels while you can because in time they’ll probably revert back to the norm

The “norm” is anything you want at retail or less from a grey. What we’ve seen the last 3 years is not the norm. There has been a huge uptick in Daytona and Pepsi inventory in recent weeks and prices are starting to tick down. A black Daytona sitting on Moda for under 24k with card. Pepsis in the low 17s sitting.

[slide13]

Originally Posted by jfmiii

The “norm” is anything you want at retail or less from a grey. What we’ve seen the last 3 years is not the norm. There has been a huge uptick in Daytona and Pepsi inventory in recent weeks and prices are starting to tick down. A black Daytona sitting on Moda for under 24k with card. Pepsis in the low 17s sitting.

Yes! The last 5 years are not the long term norm and I hope we get back to how it was before with cases full and watches available for all who want them.

[Parshu]

My AD has few DD in YG and RG which he has not been to sell for over 4 weeks now. So market is slowing down, grey dealers will have to reduce prices.

[Bmats]

I kind of feel that if you’ve been waiting for a Rolex from an AD and haven’t heard/made contact in several months, it makes sense to reach out again. If the model isn’t something like a stainless steel piece that’s a GMT II, Daytona, or LV sub, or blue dial skydweller there’s a much better chance now.

As for the grey prices, they have gone down. How much more really depends on how much inventory there is; I expect that they did move a good chunk of the inventory from 6 months ago when things were looking even more grim.

My guess is that they’re offering far, far less for new pieces—like 25% to 30% below what they sell at. And if you look at it that way, save for a few high demand pieces, anyone selling to a grey is going to take a huge hit. And that seems why for some gold pieces the price is at or even below MSRP now at the grey. All that just means we’re going to get more regular stuff at ADs. (And those backpackers that buy from the AD and sell to the grey are going to be out of business.)

[1William]

The biggest challenge in the speculation field of watch prices is data. We do not know what the big dealers paid, when they bought, how many they have and what trends are impacting the market beyond the obvious. Always fun to read and I am sure that threads of truth are in these posts but to what extent is the difficult part.

[Daytonaman799]

It def feels like things are slowing but dealers are not dropping prices yet to a big degree. Watches that have no papers etc are falling faster. This includes PP’s as well as Rolex. AP,has already fallen hard and VC had only a brief moment in the sun compared to everyone else.

[GoingPlaces]

Originally Posted by Daytonaman799

It def feels like things are slowing but dealers are not dropping prices yet to a big degree. Watches that have no papers etc are falling faster. This includes PP’s as well as Rolex. AP,has already fallen hard and VC had only a brief moment in the sun compared to everyone else.

Well, I guess some grey's feel if they start cutting it's a snowball so it's about staying power. They want to outlast the correction. Grey's with cash can afford to hold out longer but at some point that inventory becomes rich and with no cash flow in, prices should start to soften. Especially if they have overhead. Anyone advertising a steel panda at 40K, is really just trying to prop up the market IMO.

[omar10213245]

unbelievable but true!

[Mathematoxic]

Originally Posted by omar10213245

unbelievable but true!

Unbelievable!

[omar10213245]

Originally Posted by Mathematoxic

Unbelievable!

lol dude cracks me up.