Watch finder make it official

[beshannon]

Originally Posted by Mystro

My 30+ years of Rolex experience has concluded that we are in somewhat of a new normal with where Rolex has positioned its self in the market and in general public perception. Prices will not fall as far as people think, with rebounds inevitable. I have been in the game too long to ever bet against the “Rolex” brand and how it can walk between the raindrops with unrelenting success.

I completely agree

Demand is not slowing even if cash is.

And as someone who worked in retail for many years, a sale is often used to free up cash to buy more inventory

[Son Goku]

Originally Posted by beshannon

I completely agree

Demand is not slowing even if cash is.

And as someone who worked in retail for many years, a sale is often used to free up cash to buy more inventory

Not sure how you can say grey demand isn’t slowing… If grey demand weren’t slowing grey’s wouldn’t be discounting pieces and they would continue to buy, which virtually none are at the moment for SS pieces.

[beshannon]

Originally Posted by Son Goku

Not sure how you can say grey demand isn’t slowing… If grey demand weren’t slowing grey’s wouldn’t be discounting pieces and they would continue to buy, which virtually none are at the moment for SS pieces.

Your statement that none are buying is false.

I get multiple emails a day offering to buy my watches.

I never said that all demand was slowing rather the desperation to acquire here is evident.

There are buyers all over the world looking to buy. Anecdotal evidence that one dealer did something is pointless.

But I understand it is a pointless conversation, some are convinced that all watch buying will cease and prices will go to zero, just so they can get what they so desperately want. They want the stock market to crash, housing to collapse so they can spend all the money they wont have.

I'm done.

[enjoythemusic]

Originally Posted by Epanerai12

"it sure is a helluva lot easier to just be first..."

"Sell it all, today."

Great movie!

Like I've been sayin'... Math.

MV5BMjIzMTQ0MDE1MF5BMl5BanBnXkFtZTcwNzEyMjYxNg@@._V1_QL75_UX500_CR0,47,500,281_.jpg

[Jimbo]

Originally Posted by Mystro

I am looking at Rolex like a battlefield from above for some clarity and perspective.

Rolex is Rolex and is controlled with a completely different set of rules and expectations than any other company. The long term strategy with total brand market control has no equal. Thats the "X factor" being a Trust no other company can compare and puts Rolex as a brand running on a different set of rules and parameters. Rolex would easily cut back on production to maintain their brand market placement so no way the bottom is ever going to come close to falling out from Rolex. Rolex will and has taken advantage of the last year of the luxury market sprinting that every other luxury good has gone. Unlike those other premium goods, Rolex is fundamentally different in their strategy and being a Trust that doesn't have outside shareholders that forces a company to make short term corrections and compromised products in disparity. Consider Rolex is even dissolving AD's franchises at a time they sell every product they make by a factor of 10 and Rolex clearly has a plan on moving the brand more exclusive.

I suspect we will settle to last years September prices and go from there. The last 7 months had Rolex market price point moving at a sprint and their speed is more of a marathon for long term stability. A correction is not unexpected but confusing a market correction with the end of Rolex desirability and market domination is ridiculous and not the way Rolex plays their market. The old days of Rolex filled display cases are long gone.

If this is true, then it's sad for consumers and watch enthusiasts. Part of the appeal of Rolex back in the day was that it was obtainable luxury, built with a toughness and purposefulness that appealed to a wide range of customers. It was also an aspirational brand....something you bought to celebrate something.

If the Rolex powers-that-be feel the current direction is the way to go, then I feel they have lost some of that Rolex tradition and appeal.

But I'm not a watch businessman. I'm sure what they are heading toward is "good business" for them, and they now have Tudor to try to uphold the old Rolex appeal.

That being said, whenever anyone says something to the effect that market forces just don't apply, and that there are different sets of factors or new paradigms that insulate a business from the market, I run for the hills from an investment perspective. I've heard this countless times in the 35 years I've been involved in the corporate and corporate finance world....and this talk has accelerated since the late 1990's with the dotcom boom and bust cycles and the 2008 debacle.

Each time, reality has hit very very very hard.

My opinion....NO business is immune to these cycles. When prices or asset values rise at an unprecedented rate, these do come down. Some come down to 0, although this is, of course, not going to be the case for luxury watches. But the values will come down, perhaps precipitously.

The real party trick is the timing isn't it?

[ajw45]

[QUOTE=beshannon;12202445]
I get multiple emails a day offering to buy my watches.
/QUOTE]

Lol. I get multiple emails a day that I can make $50k / month working from home but that doesn't make it true. Go follow up on one of those emails and try to sell your watch and let us know what happens.

[Mrngrz46]

Originally Posted by beshannon

Collapse?

So every business that has a sale is close to collapse?

For luxury business the sale is not a good sign.
On top of this what you for sure have in the safe now you can’t sell it out easily anymore.

Is just the start…wait September/October

[Turbo Racer]

Originally Posted by Jimbo

If this is true, then it's sad for consumers and watch enthusiasts. Part of the appeal of Rolex back in the day was that it was obtainable luxury, built with a toughness and purposefulness that appealed to a wide range of customers. It was also an aspirational brand....something you bought to celebrate something.

If the Rolex powers-that-be feel the current direction is the way to go, then I feel they have lost some of that Rolex tradition and appeal.

But I'm not a watch businessman. I'm sure what they are heading toward is "good business" for them, and they now have Tudor to try to uphold the old Rolex appeal.

That being said, whenever anyone says something to the effect that market forces just don't apply, and that there are different sets of factors or new paradigms that insulate a business from the market, I run for the hills from an investment perspective. I've heard this countless times in the 35 years I've been involved in the corporate and corporate finance world....and this talk has accelerated since the late 1990's with the dotcom boom and bust cycles and the 2008 debacle.

Each time, reality has hit very very very hard.

My opinion....NO business is immune to these cycles. When prices or asset values rise at an unprecedented rate, these do come down. Some come down to 0, although this is, of course, not going to be the case for luxury watches. But the values will come down, perhaps precipitously.

The real party trick is the timing isn't it?

I have to agree with this wholeheartedly. There are cycles and though some businesses are relatively immune to recessions, luxury goods are not in that category. I think the only new paradigm shift right now is the shock and disbelief of those who cannot fathom how ugly a recession is because they’ve never been through one in a way that financially matters.

[inadeje]

Bait and switch advertisements…20% off the watches we already added 200% to

[Watchcollector123]

Feel sorry for the gloom and doom merchants:-). Reeks of desparation and sour grapes.

[Highlatitude]

To be fair to Watchfinder, I once asked them to source me a new Rolex GMT2 (116710LN). They found one in 24 hours and sold it to me for £200 less than retail. Box and warranty card (ink fresh from the day before with my name).

The price was £3200. I was delighted. But that was back in 2007 :)

[Highlatitude]

To be fair to Watchfinder, I once asked them to source me a new Rolex GMT2 (116710LN). They found one in 24 hours and sold it to me for £200 less than retail. Box and warranty card (ink fresh from the day before with my name).

The price was £3200. I was delighted. But that was back in 2007 :)

[helloworldies]

Originally Posted by Harry-57

Exactly what I would do if my turnover was healthy across the whole business. Push the high end, see how far it will go. Then make it look like I'm being generous by falling back to a still excessive, lower price.

It only works for a finite time.

In a way grey dealers have auto asphyxiated.
Incessant speculative increases in asking prices have narrowed the field of buyers.
They will of course end up selling even more watches as prices fall as there is still plenty of pent up demand.

[Watchcollector123]

Originally Posted by beshannon

Your statement that none are buying is false.

I get multiple emails a day offering to buy my watches.

I never said that all demand was slowing rather the desperation to acquire here is evident.

There are buyers all over the world looking to buy. Anecdotal evidence that one dealer did something is pointless.

But I understand it is a pointless conversation, some are convinced that all watch buying will cease and prices will go to zero, just so they can get what they so desperately want. They want the stock market to crash, housing to collapse so they can spend all the money they wont have.

I'm done.

Agree 100%.

[beshannon]

[QUOTE=ajw45;12202623]

Originally Posted by beshannon

I get multiple emails a day offering to buy my watches.
/QUOTE]

Lol. I get multiple emails a day that I can make $50k / month working from home but that doesn't make it true. Go follow up on one of those emails and try to sell your watch and let us know what happens.

Got it. Just sold a watch.

[Harry-57]

Originally Posted by helloworldies

In a way grey dealers have auto asphyxiated.
Incessant speculative increases in asking prices have narrowed the field of buyers.
They will of course end up selling even more watches as prices fall as there is still plenty of pent up demand.

They will do just fine. The big greys buy and sell over a wide price and model range. They have done exceptionally well on some brands but they will have known it wouldn't last and will be hedged accordingly. If things slide a long way and they lay off staff and close locations, that's acceptable. It's what businesses do.

Only the idiots who over extended themselves and concentrated on a narrow portfolio will get burnt if they didn't predict the market and quit while the going was good. They were only pretending to be a business. They will be forgotten and unmissed. Some of those ridiculous mouths with YouTube channels fall into this category. A double bonus.

[Bazil]

I have zero complaints with my dealings Watchfinder .. I ended up with very goo£ price for my IWC - 3.5k more than Watchtrader offered ..
Fast response and very friendly …

[Bazil]

I have zero complaints with my dealings Watchfinder .. I ended up with very goo£ price for my IWC - 3.5k more than Watchtrader offered ..
Fast response and very friendly …

[helloworldies]

Originally Posted by Harry-57

They will do just fine. The big greys buy and sell over a wide price and model range. They have done exceptionally well on some brands but they will have known it wouldn't last and will be hedged accordingly. If things slide a long way and they lay off staff and close locations, that's acceptable. It's what businesses do.

Only the idiots who over extended themselves and concentrated on a narrow portfolio will get burnt if they didn't predict the market and quit while the going was good. They were only pretending to be a business. They will be forgotten and unmissed. Some of those ridiculous mouths with YouTube channels fall into this category. A double bonus.

There are so many you tube grifters in the watch market.
"Raining money on fools" as Musk would say.
Watchfinder are not amongst them.

[mountainjogger]

Originally Posted by beshannon

But I understand it is a pointless conversation, some are convinced that all watch buying will cease and prices will go to zero, just so they can get what they so desperately want. They want the stock market to crash, housing to collapse so they can spend all the money they wont have.

I'm done.

I am also baffled by the doom seekers. A bit like hoping the theater burns to the ground so the lines will be shorter.

[rolex16]

Originally Posted by mountainjogger

I am also baffled by the doom seekers. A bit like hoping the theater burns to the ground so the lines will be shorter.

Please explain why it’s so great for end customers to have a hyper inflated market. Can’t? Now you understand why people want it to stop.

[brandrea]

Originally Posted by LooseCann0n

Watchfinder are one of the “best” resellers.

YT videos on the whole very informative and professionally made.

Offer one if the highest prices for your watch (in the past; I was offered c£35k for my Daytona in March 2022. Now the market has softened it is not surprising they are not willing to buy more - I bet there would be some dealers happy to give me a derisory offer which WF don’t seem to want to do.

Service is great - follow up and interaction is top notch.

Yes they are expensive- probably the highest for sale prices but what do you expect… They have found their niche at that end of the market and presumably have loads of customers willing to pay a few % more to have piece of mind dealing with an established bricks and mortar store. Also all their watches are in pristine condition as they get a polish (maybe a bad thing for some) and present with box and papers for most.

See no need to bash them - there are many others in the market you can that deserve it more.


Sent from my iPhone using Tapatalk

Have to agree

[johnwigan]

I will just leave this here. Oldie but golden.

[JRedford]

^^^^Love it.