Buying a Rolex because of its aftermarket value

[bluestreak]

Wow.

https://www.chrono24.com/rolex/gmt-m...id36827636.htm


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[KatGirl]

Originally Posted by Afterglow

You seem to often speak for all of us.

I give honest feedback, based on my knowledge and experience, as a long term collector and member. TRF is a Rolex enthusiast forum. If my comments bother you, hit the ignore button.

Kat


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[77T]

Originally Posted by bluestreak

I don’t even think that watch sells for 1X MSRP

True

Originally Posted by bluestreak

Wow.
https://www.chrono24.com/rolex/gmt-m...id36827636.htm

That guy is insane. He is off by $100K

Here is what anyone could get in an hour's time.




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[Roddypeepa]

Originally Posted by daysky1

Full Rose Gold GMT Brown/Black bezel

lol. Leave with a loss of thousands more like.

There a saying here: buy what you like.

And I’d add to that: what you can afford to lose.


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[Roddypeepa]

Originally Posted by brandrea

Yes, I’m having a hard time believing it myself. That said C24 pricing is aspirational at best at times.

There are listings on c24 that have been there since the peak. Bought too high and now panicking

In fact, there is a watch trader here in Hampshire, England called Swiss Watch trader. They’ve posted on social media “are you feeling lucky? Make us an offer”.

Hmm. Perhaps that 116500 that you’ve had up for months at £27500 is a millstone around your neck? Prices listed don’t equal prices sold necessarily


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[SVH]

i felt similarly about passing up a white dial daytona for a no-date sub a decade ago, but realized (i) i like that look of the sub more, which is why i got it, and (ii) wouldn't have sold it anyway, so it's secondary market value is meaningless

If profit is your motive, a lot more money to be made getting your hands on an in-demand car selling over retail than watches

[brandrea]

Originally Posted by Roddypeepa

There are listings on c24 that have been there since the peak. Bought too high and now panicking

In fact, there is a watch trader here in Hampshire, England called Swiss Watch trader. They’ve posted on social media “are you feeling lucky? Make us an offer”.

Hmm. Perhaps that 116500 that you’ve had up for months at £27500 is a millstone around your neck? Prices listed don’t equal prices sold necessarily


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I would never buy a watch at those inflated prices, but maybe there’s someone who will.

I’ve always taken c24 pricing with a grain of salt. Anyone can ask a price, but yes, it doesn’t mean that’s what they sell for. The same holds true for any secondary seller, it’s just an asking price and open for negotiation.

[Roddypeepa]

Originally Posted by brandrea

I would never buy a watch at those inflated prices, but maybe there’s someone who will.

I’ve always taken c24 pricing with a grain of salt. Anyone can ask a price, but yes, it doesn’t mean that’s what they sell for. The same holds true for any secondary seller, it’s just an asking price and open for negotiation.

Wise words and agree totally. I don’t want to see businesses fail but on the other hand their trade vs seller pricing in some cases are outrageous. A fool and his money are soon parted. A d when a used 116500 is over £27k then you get what you get. Early 2023 prices in 2025. Ok.

On those prices a £1k delta is probably fair. But a lot of companies are paying eg 10k for BLNR and asking 14/15 k. That’s not sustainable. There’s in fact an oyster BLNR up for £19k on c24. Probably been there for years.

[brandrea]

Originally Posted by Roddypeepa

Wise words and agree totally. I don’t want to see businesses fail but on the other hand their trade vs seller pricing in some cases are outrageous. A fool and his money are soon parted. A d when a used 116500 is over £27k then you get what you get. Early 2023 prices in 2025. Ok.

They’re coming back down to earth

[1665fan]

Originally Posted by Triggerfish

If you're that far out from knowing the market, it was good that you didn't buy it.

Amen

[daysky1]

If we could forget about which watch it was, and let's call it a John Mayer Daytona and it really wasn't a watch that you cared for would you buy it anyway just to flip? Or would you buy it anyway just because you knew it was valued higher than you paid for it even though it really wasn't a watch that you wanted and keep it in your collection? I won't do that just to be clear but I was wondering what you would do?

[rolexnerd]

Originally Posted by daysky1

If we could forget about which watch it was, and let's call it a John Mayer Daytona and it really wasn't a watch that you cared for would you buy it anyway just to flip? Or would you buy it anyway just because you knew it was valued higher than you paid for it even though it really wasn't a watch that you wanted and keep it in your collection? I won't do that just to be clear but I was wondering what you would do?

Buy it, wear it, and if it doesn’t resonate with you, sell it and put the profits toward something you truly love. Watch collecting can be expensive, but if you buy and sell wisely, you can acquire pieces that might have otherwise been out of reach.

[Rolexforthewin]

Originally Posted by daysky1

What would you do? I had an chance to buy a Rolex from my AD but declined because it just wasn't me...Then I looked on Chrono 24 and saw that watch listed for 3X the retail value. I still didn't want it...even though my AD said if I change my mind to give them a call. What would you have done? Just wondering...

AD had now idea what they're talking about, which isn't unusual.

[huncho]

Originally Posted by Rolexforthewin

AD had now idea what they're talking about, which isn't unusual.

his AD didn't say anything though? lol

[Calatrava r]

Originally Posted by daysky1

If we could forget about which watch it was, and let's call it a John Mayer Daytona and it really wasn't a watch that you cared for would you buy it anyway just to flip? Or would you buy it anyway just because you knew it was valued higher than you paid for it even though it really wasn't a watch that you wanted and keep it in your collection? I won't do that just to be clear but I was wondering what you would do?

It makes no difference what the passed-on watch is actually worth used. All that mattered is that the buyer, when passing on the watch, believed the watch would be substantially more money than its retail price.

[SudiYunus]

Originally Posted by bluestreak

I don’t even think that watch sells for 1X MSRP


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[gerry100]

Things have changed since the party started.

IMHO, the speculative money making phase is over.

The right approach for a true watch enthusiast is patience

[Mystro]

Originally Posted by gerry100

Things have changed since the party started.

IMHO, the speculative money making phase is over.

The right approach for a true watch enthusiast is patience

^^^ absolutely. ANY PM model is a huge risk to even get your msrp money back. Only a very few SS models would be a safe bet but even then we are not talking about lot of return in the grand scheme of life. The models that do have a higher flipping return are models you would never flip to begin with as a WIS.

[Roddypeepa]

Originally Posted by Mystro

^^^ absolutely. ANY PM model is a huge risk to even get your msrp money back. Only a very few SS models would be a safe bet but even then we are not talking about lot of return in the grand scheme of life. The models that do have a higher flipping return are models you would never flip to begin with as a WIS.

Very well said.. If you can only get one SS of the hot models - Daytona, Pepsi, green sub etc you don’t flip you enjoy. The sooner people stop seeing Rolex as a money maker the better.


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[KatGirl]

It’s my understanding, just from reading this forum that precious metal pieces are harder to sell, thus often offered spontaneously, by ADs, to random customers, who they think can afford them. I’ve also learned that they are under MSRP on the secondary market. I say this as a casual observer, who simply picks up knowledge by paying attention. I have no interest in such pieces, nor the pocketbook to afford one. More importantly, I didn’t think we were supposed to discuss such matters here, per forum rules. Am I mistaken?

Kat


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[Watch out]

I don't buy my watches considering any kind of resale. However it doesn't hurt to know that if i ever fell on hard times, the money spent isn't all thrown out the window. At least that's what I tell my wife.....

[KatGirl]

Originally Posted by Watch out

I don't buy my watches considering any kind of resale. However it doesn't hurt to know that if i ever fell on hard times, the money spent isn't all thrown out the window. At least that's what I tell my wife.....

That’s a valid point. If we are ever really in a tough spot financially, we do have options. I just said that to my husband the other day.

Kat


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[1665fan]

I remember my first time looking at Rolex….lol

[BraveBold]

My mindset is as follows:

Only buy what I really like.

Only purchase what I can easily treat as a pure expense (money never to be seen again).

Only purchase what in actuality is more like an asset (holding substantial value or appreciating with inflation).

Insure.

So some of my approach seems contradictory but this is how I treat almost any luxury goods item I buy, aside from certain types of clothing (where the “asset” quality is inapplicable).

Setting aside the false premise from the OP, it means I am not buying any Rolex based on monetary considerations (appreciation of value). I also don’t sell or trade out of watches, I only add. I see watches as assets and they make up a tiny percent of a very diverse portfolio of assets.

[HiDive]

Resale value is not a consideration for me if I am buying the watch because I like it and intend to keep it, which is pretty much always the case. The only exception to that might be if I know that the resale value is really bad. I might not purchase a watch that is very expensive knowing that it will instantly be worth a small fraction of the price paid. Now if the watch looks cool and I like it and it only costs a few hundred dollars I don't care much. It is nice to know in general that when I buy a Rolex it is going to give me a higher price than I paid for it if I decide to trade it in down the line, but that is not my main consideration.