Prices slump by up to 50% for discontinued Rolex watches (Watchpro)

[RichardBartlett]

Just left Taipei Taiwan
Rolex
Patek
AP
Nothing in the windows nothing to sell. Recession hasn't affected their sales I guess🤔

[Vince_76]

Originally Posted by RichardBartlett

Just left Taipei Taiwan
Rolex
Patek
AP
Nothing in the windows nothing to sell. Recession hasn't affected their sales I guess🤔

Or their balance sheets are strong enough that they can can still operate under the guise of exclusivity and elusiveness.

Refer to other posts where Rolex ADs have massive stock in the back, waiting for the right customer.

Do not take what I’m saying to mean that nothing is moving, or that pieces still aren’t hard to get at a boutique. Just saying you can’t be this naive when it comes to AD games.

[ronricks]

Originally Posted by Auric Goldfinger

What’s crazy is this is just the beginning of the economic turmoil.

I respect them for saying how it is compared to a lot of other secondary dealers.

It’s amazing people on here still think it’s a sellers market. These guys are desperate for sales right now. Look at all the watches for sale on watch recon that have 10 plus bumps without a price reduction. I feel sorry for these guys that are desperately trying to hang on and act like everything is fine. We still have taxes due in April here in the States so this isn’t getting any better anytime soon. The smart dealers dumped their stock 6 to 8 months ago and went to consignment only. It’s too late now unless you want to take massive losses.

[aba123]

What is your impression of the market for 116500?

The asking prices has gone up since December/January, but the market seems slower again.

Especially black dials who are not selling at around 25-26K.

[Rickkk]

Originally Posted by Auric Goldfinger

What’s crazy is this is just the beginning of the economic turmoil.

I respect them for saying how it is compared to a lot of other secondary dealers.

CRM only help CRM. They’re most likely doing it to offset the millions in profits they’ve already made and to get new stock in cheap. Think about where all the cars and boats came from. Just because people want the watch market to collapse, they get all excited and lose sense whenever they think it’s happening. Remember! Smoke and mirrors….

[ronricks]

Originally Posted by Rickkk

CRM only help CRM. They’re most likely doing it to offset the millions in profits they’ve already made and to get new stock in cheap. Think about where all the cars and boats came from. Just because people want the watch market to collapse, they get all excited and lose sense whenever they think it’s happening. Remember! Smoke and mirrors….

I mean CRM are one of the few that are admitting they are losing money on inventory. I've seen a few others admit the same but people want to ignore it and pretend everything is fine? Look around you. The watch market is absolutely struggling right now.

[messikens]

Originally Posted by sigma089

I remember watching him in another video buy APs and Pateks at a watch show like crazy only a few month ago. Couldn't understand him doing that, since it was clear back then already where the market was heading.

I think this video is a testament of how much even big greys like him or Watch Eric, who seems to be getting more desperate with each video as well, are hurting.

Things won't stabilize anytime soon. SVB was only the beginning. Tech, retail and real estatate are hurting bad. Crypto's dead. Here in Germany all assets are in the dumps compared to only a few months ago. No one is buying anything, be it watches, cars or houses. Recent prices for either weren't justifable or sustainable by any stretch of the imagination and cost of living is increasing dramatically for everyone.

The FED and other central banks won't come to the rescue, because they have no intent of keeping an enormously contagious bubble, which they fed themselves for ages, on life support simply because it bursting later will be even more problematic. They will however try to make sure that not one bank after another collapses - which they did in the recent days.

Most Rolex and Patek pieces are barely holding above retail. PM is or will be below retail soon. Great for everyone who's in the market for a DD, Calatrava or two-tone watch. Bad for everyone who bought a root beer for above retail. Everyone who didn't spend gazilliones over retail for a steel sports model, Aquanaut or Nautilus will be fine.

APs are in freefall and simply not selling. Same with VC and the like. I don't think anyone in their right mind is buying at their boutiques atm. Pretty sure a lot of "sales associates" at brand boutiques, who have refused to sell anything to anyone remotely interested in watches pre-covid for the past three years will be back selling groceries soon. Have a hard time feeling sorry for them looking back at all the "no watch for you" conversations over the past few years.

Exciting times to come for anyone who's planning to add a RO, Nautilus or other sought-after model in the coming months or years. 15450/15202/16202 at retail or below here I come. :)

I think that's a bit unfair to the SAs. Supply stayed the same and suddenly demand increases by 10x since there's money to be made and more awareness of watches in general. What are they going to do, invent or manufacture watches themselves? I'm sure it can't be fun sitting in empty boutiques getting annoyed calls from people just "checking in" asking for the same steel GMT or RO as a hundred people earlier...

That said the larger market moves I am happy with. I can't stand the flipper culture, the showing of their lambos and Porsches, the suitcases full of taped watches that no retail client ever has a chance of at sniffing at (likely backdoor). I'm all for people making a living but flaunting your wealth (almost a "hey look at how much money I made by ripping people off") I can do without.

[Mathematoxic]

Recently saw a YouTube video from The Honest Watch Dealer. He was saying how busy it is for him and the UK dealers since January and 2023 is the year to buy watches. I’m going to unsubscribe from his channel now lol.

[Vince_76]

Originally Posted by Mathematoxic

Recently saw a YouTube video from The Honest Watch Dealer. He was saying how busy it is for him and the UK dealers since January and 2023 is the year to buy watches. I’m going to unsubscribe from his channel now lol.

Ironic name lol

[Pablito]

For a brand new AK 126900, (that I'm not interested in but for this thread purpose I asked), I was offered MSRP minus 500 euros by a grey ... Watch market is dead? L O L

[Mathematoxic]

Originally Posted by aba123

What is your impression of the market for 116500?

The asking prices has gone up since December/January, but the market seems slower again.

Especially black dials who are not selling at around 25-26K.

The higher asking prices are mainly a side effect of the speculations that it will be discontinued. Let’s think deeper : Suppose this watch is discontinued, how much more can it go? How many people will park 26k(black) or 32k(panda) on a stainless steel watch if there is no future(short term) profit. Based on previous discontinued price trends, it goes up after W&W but comes down quickly after a short period of time. Why? Because the price increases are purely speculative in nature. There are very few end users that will actually spend that amount of money on it and there are tonnes of pandas actually lying around. Think about it, the ultra rich and famous can’t be bothered with this watch, it’s the mass market consumers that are after it. At the end of the day, life still go on without a watch.

I will also like to add :
The more people believe in a watch market downturn, the more likely it will happen. Same for people believing in market upturn. Watch dealers are using this psychological effect in their YouTube videos. Reason is simple : no one wants to catch a falling knife hence no one will buy and as a result, prices will come down. Similarly, everyone wants a profit(or value retention) when they buy. So the watch market will rise to the moon if everyone thinks it will.

[EEpro]

Originally Posted by Pablito

For a brand new AK 126900, (that I'm not interested in but for this thread purpose I asked), I was offered MSRP minus 500 euros by a grey ... Watch market is dead? L O L

Considerably better performance than using silver bullion in this example. Slightly worse than using gold bullion.

Overall a SS Rolex is still an excellent store of value even after "it's happening"

[Land_Jet]

Originally Posted by EEpro

Overall a SS Rolex is still an excellent store of value even after "it's happening"

No matter what side of the fence you are on this is a very true statement.

[NYG1121]

I still think there is one big inventory dump that will happen soon. It may be due to the current economic issues. Once that happens, everything will be back to "normal" and this horror show over the past ~5 years will be over.

[Mathematoxic]

Originally Posted by NYG1121

I still think there is one big inventory dump that will happen soon. It may be due to the current economic issues. Once that happens, everything will be back to "normal" and this horror show over the past ~5 years will be over.

I’m guessing many more rounds because greys are still dreaming and putting up a show in unison. Many watches are just in a merry-go-round between dealers.

[huncho]

lol in that crm vid someone really called and said they bought a DD40 for 51k when market value is under 40, how is that actually possible

[Auric Goldfinger]

Originally Posted by huncho

lol in that crm vid someone really called and said they bought a DD40 for 51k when market value is under 40, how is that actually possible

Only thing I can think of it was the champagne baguette dial. He didn’t specify beyond color.

[Laostuh]

Originally Posted by EEpro

Seems like watch wrapped around a warranty card is the MODA special.

Plenty of full sets available, but also plenty of "add $250 to make complete"

[Swiftneck]

Originally Posted by Vince_76

Ironic name lol

It's just as truthfully as the rest.

Sendt fra min SM-F711B med Tapatalk

[Land_Jet]

Originally Posted by huncho

lol in that crm vid someone really called and said they bought a DD40 for 51k when market value is under 40, how is that actually possible

Because the seller likely got it at retail and was looking to make a quick 10k. Not realizing it wasn't even worth retail + tax.

[Rolexatlast]

Originally Posted by EEpro

Overall a SS Rolex is still an excellent store of value even after "it's happening"

Yes - provided you bought at MSRP from an AD.

Not so much if you buy from a grey

[EEpro]

Originally Posted by Rolexatlast

Yes - provided you bought at MSRP from an AD.

Not so much if you buy from a grey

Well obviously

[slim]

Any recent pricing for these pieces below? Listings on the classifieds and chrono haven’t moved much(or sold). I would expect these to decline further, before the craze these weren’t(aside from 5980) very desirable to the general public.


5712/1a
5712/1r
5980/1r
26574(st and or)

[huncho]

Originally Posted by Land_Jet

Because the seller likely got it at retail and was looking to make a quick 10k. Not realizing it wasn't even worth retail + tax.

well he said he bought it from a seller at 51k. retail for romans is 38.5k and the baguette dials are 43k, so i still don't know how he got fleeced for 51k. it would make sense if he himself got it at retail and tried to offer crm 51k, but overpaying that much when the market values are everywhere is weird. unless he was just lying lol

[ts3]

Originally Posted by slim

Any recent pricing for these pieces below? Listings on the classifieds and chrono haven’t moved much(or sold). I would expect these to decline further, before the craze these weren’t(aside from 5980) very desirable to the general public.


5712/1a
5712/1r
5980/1r
26574(st and or)

Where I live 5712/1A has been hard to get for nearly a decade if not longer. And 5712/1R was just launched a few months ago anyway. One that wasn't sought after much for the longest time was the strap model 5712R.

[psm11]

Just stopped by Rolex, AP, and Patek in Bev hills and every store was dead and I was the only person in the store the length of my visit. No lines, nothing. Certainly not lining up with what other folks purport on here (stores being jammed packed with people).


Did see a walk in get turned away at the door of RM tho.

[huncho]

Originally Posted by psm11

Just stopped by Rolex, AP, and Patek in Bev hills and every store was dead and I was the only person in the store the length of my visit. No lines, nothing. Certainly not lining up with what other folks purport on here (stores being jammed packed with people).


Did see a walk in get turned away at the door of RM tho.

never seen a rolex AD or AP boutique packed even during the bubble. realistically it was always maybe 2 or 3 other people at most and nothing to see in the cases anyway. even in the most populous areas in manhattan and huge ADs like tournaeu

i don't think anyone here ever claimed there were physical lines and packed stores. there's no real reason to actually be in stores nowadays, most of the demand is still on some form of a waitlist so you either get the call or you don't. for the most part walking into these places has been a depressing experience for the last 4 or so years imo

[ThatOtherGuy7]

The Rolex boutique here in Silicon Valley is usually busy. There is typically a line averaging 4-6 people and maybe up to 6-8 in the store. Last time I went though, there was just a few people in the store and nobody behind us. When we left, we were the only ones there and nobody was waiting outside. About 30 minutes later we walked by on the way out and saw a line of 4-5 people. This was a weekday evening. Weekends they are usually more busy.

[huncho]

Originally Posted by ThatOtherGuy7

The Rolex boutique here in Silicon Valley is usually busy. There is typically a line averaging 4-6 people and maybe up to 6-8 in the store. Last time I went though, there was just a few people in the store and nobody behind us. When we left, we were the only ones there and nobody was waiting outside. About 30 minutes later we walked by on the way out and saw a line of 4-5 people. This was a weekday evening. Weekends they are usually more busy.

interesting, can't say i've ever seen a line in nyc

[ThatOtherGuy7]

Originally Posted by huncho

interesting, can't say i've ever seen a line in nyc

They basically have each associate help a group of people (if they came together) or a solo client at a time. Similar things with nearby stores of luxury brands such as LV, Dior, Gucci, etc. LV always has quite a long line outside their store.