Platinum Daytona - Unsuccessful Search + Conclusions

[Monty22]

Originally Posted by Abre

It’s not that special in my opinion, I think it became very hyped lately and not worth the money but this on the other hand this is special .




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If that didn’t say PP on it, it wouldn’t be special, IMHO. I am not defending the Platona at all as I am not a Daytona fan, but come on. SS (v platinum), Dainty, a scratch magnet, and just as unnecessarily hyped


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[CHRONOLEX]

Originally Posted by HogwldFLTR

I'd go to/contact as many ADs as possible and offer to buy one. Try harder to get one at MSRP. Great watch but lately it's priced mine off of my wrist. Also, the upgrade cost to diamonds may well be worth it for me now as it really increases the value. Of course when I bought mine I got a discount and could never for see this craziness happening.

Yeah it’s crazy, isn’t it. When this came out, they were relatively plentiful and traded down to about 65% in the secondary market. Totally went the other way! Congrats on getting in at a good price. Agree on the baguette dial. Always enjoy your posts on the board!

[CHRONOLEX]

Originally Posted by jakemiller69

The original comment sounds really elitist and snobby, but I do agree with the sentiment. $10m or less NET, you probably would do better with BTC or a Spac like PSTH, looking for what brings the most value. If you want a watch, then Panda will win that with less outlay.

Thanks. It’s not an ability to afford question. It’s more just an out-loud reflection on what’s going on with this particular piece. I don’t really have to have this, it’s not really a grail piece, it’s more just I’ve always liked it, would like to add it to my collection, and curious whether it makes sense to chase this momentum now or wait it out. Was soliciting feedback from our esteemed membership who have thoughts on the topic.

[CHRONOLEX]

Originally Posted by 2000-NJDEVILS

Good Luck in your quest!
Life is short - so if you really, really feel you have to have it, just pay the $100-130K and wear it with pride. Or do a large trade-in with some of your other watches to get this “Grail Piece”....
Again, Good Luck!

Thanks! As above, I don’t really think of this as a grail piece and wouldn’t trade anything to get it.

[CHRONOLEX]

As an update, I have decided to get the baguette dial version relatively soon. Have some pending arrangements with a few dealers, not sure on precise timing but I can be very patient. Thanks everyone for your thoughtful posts and feedback!

[jakemiller69]

Originally Posted by CHRONOLEX

As an update, I have decided to get the baguette dial version relatively soon. Have some pending arrangements with a few dealers, not sure on precise timing but I can be very patient. Thanks everyone for your thoughtful posts and feedback!

Wish you luck on the journey! I’ve been waiting almost 5 months for my baguette version and AD had thought much earlier this year to be delivered.

[CHRONOLEX]

Originally Posted by jakemiller69

Wish you luck on the journey! I’ve been waiting almost 5 months for my baguette version and AD had thought much earlier this year to be delivered.

Same to you!! Congrats in advance!

[Frank McKay]

Originally Posted by Monty22

If that didn’t say PP on it, it wouldn’t be special, IMHO. I am not defending the Platona at all as I am not a Daytona fan, but come on. SS (v platinum), Dainty, a scratch magnet, and just as unnecessarily hyped


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In all honesty the 5711 PP does nothing for me. A Platona 100x out of a 100 over the Patek. A steel Daytona is a far more attractive watch as well. My opinion ofcourse.

[BumbleB]

Originally Posted by CHRONOLEX

Hi all:

I have wanted a platinum Daytona since they first came out, and was hoping to pick up a BNIB or LNIB on the secondary market in the sub $50k area, but never did. However, as we all know, rather than staying at that price point, they went in the extreme opposite direction. With all the rumors of being soon discontinued, I once again re-launched my search a few weeks ago (although I really hated finding myself in a position of having to chase the momentum).

In the current market, I cannot really find a great condition Platona at a price that feels like a comfortable entry point. Over the last week, from dealers across the U.S., I have been offered 5 years old with some dings for $100k, 3 years old unpolished (but in need of refinishing) for $110k, and BNIB for an average price of about $130k (prices rounded, not exact). Thank you to the very kind TRF members who provided me with insight over the last few days.

My concerns on a purchase like this, right now, are numerous, obviously. But a primary concern is that I would buy it BNIB for call it $130k, remove the stickers and wear it, and (although I'm extremely careful with my watches) then require the worn market on this watch to appreciate another $15k or so to allow me to exit the watch for what I paid (if I ever wanted or needed to sell it). I don't know that I see another +$15k in this market with relative confidence.

When I spoke to a few non-ADs about this, they told me they won't stock this piece (or probably even buy it from me) because they wouldn't commit the capital to buy the watch for inventory (not many people walk in ready to spend $100k for a watch at a neighborhood shop) and it's just a lot of work to resell in general.

As I've thought about it over the last few hours, I have decided to suspend my fervent search and just see if anything comes around. While I own far too many watches (like many of you) to wish for the market to "come back down," I would like to see where this Platona market in particular goes. It's already traded to +60% of retail - does it have another 60% of upside? Not sure I see this as a $200k watch, but hard to say!

Unfortunately it feels like it's become such a hype piece over a very short time period, that perhaps the supply has been hoarded by speculators hoping for its discontinuation. I suppose only time will tell where this supply goes, and when.

In the meantime, I will enjoy my other watches (such as my black DaytonaC acquired last week) and continue a passive search. Maybe one day I will be fortunate enough to post an incoming on the official Platona owners thread!

Best wishes to all. Thanks for reading.

I feel that if you’re worried you need to sell it at some point, you shouldn’t buy it.

I only buy my watches with ‘throw away’ money. Money that I don’t expect (or need) to see again.

In your case, I would put the money in some nice ETFs or Index fund.

If you still want to go ahead buying a platona:

Regarding the Platona price, i’ve seen several in the display case at ADs in the East coast just before the pandemic (in DC, Virginia area).

I would think if you spent some time visiting different ADs you might get lucky and buy a new one at AD price.


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[HogwldFLTR]

Originally Posted by CHRONOLEX

Yeah it’s crazy, isn’t it. When this came out, they were relatively plentiful and traded down to about 65% in the secondary market. Totally went the other way! Congrats on getting in at a good price. Agree on the baguette dial. Always enjoy your posts on the board!

Thanks and good luck with the search!!!

[fskywalker]

Originally Posted by HogwldFLTR

I'd go to/contact as many ADs as possible and offer to buy one. Try harder to get one at MSRP. Great watch but lately it's priced mine off of my wrist. Also, the upgrade cost to diamonds may well be worth it for me now as it really increases the value. Of course when I bought mine I got a discount and could never for see this craziness happening.

Good for you Lee! Perhaps a good time to cash out on the crazyness and put the money towards something else!


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[TheVTCGuy]

You know Chronolex, I am sorry you feel frustrated at this point. I have never owned anything near the price point of the Platinum Daytona, but I have had the opportunity to try it on a couple times and it is a mesmerizing piece. Here is my opinion:

With Rolex watches, IMHO anyway, the joy is owning and wearing a fine timepiece. I have heard so much on this forum about prices, value going up and down, fear of prices dropping etc. To all of that, I say a very mature and professional... PHOOEY!!!!!!!

If, you desire to own that watch, and will get pleasure from owning and wearing, and you have the funds to do so, I say buy it and wear it to your heart’s content. Will the value hold? Will the price of these drop on the gray market so you may never get your money back? I say who knows and who cares. If you are looking for an investment (again IMHO) I don’t believe a Rolex is the way to go, they are fine timepieces to be worn and enjoyed. If you spend 130K, but enjoy the watch, and tomorrow the value drops to 10K, who bleeping cares? You have the item that YOU desire and makes YOU happy, who cares what someone else will pay for it.

Please, buy it, and don’t forget to post pics!!!!!!

[Goonthree]

Most people don't have plutona but sure got a lot of advices. $130k seems high now but won't be if price go to $175k and that is how most people feels. I thought about selling my at 90k, 40 days later dealer offered me 25k more. Now market is steady now it seems foe Plutona. As for Patek, most that have it knows to get couple nautilus you have to spend $500k+ of other watches. So for people from Patek world. Plutona entry is cheap but for normal people (me included), it is good amount.

[Goonthree]

Baguette is the rare one to get and should be better in the future. I like normal one better due to contrast on the dial but if I had the choice to choose, I would get Baguette as it is only $6,250 more. Sounds like you got it all figure out

Originally Posted by CHRONOLEX

As an update, I have decided to get the baguette dial version relatively soon. Have some pending arrangements with a few dealers, not sure on precise timing but I can be very patient. Thanks everyone for your thoughtful posts and feedback!

[1665fan]

Originally Posted by CHRONOLEX

Thanks! As above, I don’t really think of this as a grail piece and wouldn’t trade anything to get it.

Damn if it’s an average piece of you should have already picked it up....or not LOL...to me it would be, would I trade 3-4 steel daytonas for one? Hell no

[Brich436]

Post pics of it when it comes in!


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[casadecamporolex]

I’ve been waiting for this watch from my AD for over 4 years.
And my AD just had the brand pulled from their store.
I’m a very wealthy guy but NO WAY am I buying this NOW.
My buddy paid $51k, almost 30% back when no one wanted it.

[macrowatch]

I think, but I could be wrong, that the distribution of this model changed around 2016. Meaning I think most stores got at least one sometime around release, and then around 2016 before the craziness started, some smaller stores where the model's price point would be hard to model didn't receive the model. Maybe through special order was possible, but was not just randomly sent the model.

Anyways, back to OP, my feeling is that there will always be at least some platinum reference in the line now after introduction. Some form of diamonds is probably also going to be available, so I don't think there's any urgency on the diamond version, only on the anniversary edition which will eventually get discontinued, but could still be further away than we think. I forget how long the smurf and original kermits were in production, but seems like at least one of them was around for a decade and if so, brown subdials may still be around for another 2 years. Who knows.

[SS Oyster]

Isn’t it always true that you find things when not looking for them?

Back in 2015, while walking around SDGO Fashion Valley Mall, Royal Maui Jewelers had a Platona just sitting in their display. It was beautiful, but $75k plus tax new ... or at the time around $52k through trusted sellers on TRF.

Then, July ‘20 (COVID in full swing) walked into Rolex Boutique Rodeo Drive BH, and they offered me this one. Prices hadn’t ballooned up yet, and it was a lot of money, so I passed.







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[PJitz]

To the poster who said the Platona is overhyped and not special while the Nautilus is - I say LOL.

[PJitz]

The watch market is crazy at the moment. It's a weird time to be an enthusiast.

[Abre]

Originally Posted by PJitz

To the poster who said the Platona is overhyped and not special while the Nautilus is - I say LOL.

And I still stand by what I said .
Daytona for me = steel
A platinum Daytona doesn’t do anything for me ( unless it has the Arabic numerals and the baguette bezel )




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[ap1]

Originally Posted by PJitz

To the poster who said the Platona is overhyped and not special while the Nautilus is - I say LOL.

[causalball3r00]

Originally Posted by ap1

Call me one of the fools that paid 52.5 for one from AD few years ago, then “gave” it to DSW for 45. Omg.

Of course I looked into another one recently and there is zero supply at all the ADs I tried. That diamond dial is the one I’m fixated on. No way is that a 2x watch

I think it would be fool to call you a fool. You simply made a decision based on an analysis you made. Whether it worked or not, is not our issue.

[Demon Barber]

Baguette dial probably will be a 200k+ watch in a few years once it's gone.

[steveclr]

Originally Posted by Monty22

If that didn’t say PP on it, it wouldn’t be special, IMHO. I am not defending the Platona at all as I am not a Daytona fan, but come on. SS (v platinum), Dainty, a scratch magnet, and just as unnecessarily hyped


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I'm confused by that PP. I appreciate the subtlety but what is the feature that makes it special? Personally, if I had the funds for a PP, I'd much rather have the 5231J World Time.

[Goonthree]

I think it is going 200k+. It is way more rare than green dial and that is almost going 2x over msrp which out plutona over 200k+.
It is crazy how things have changed. Chrono24 already have it priced over 150k

[BumbleB]

Originally Posted by CHRONOLEX

Hi all:

I have wanted a platinum Daytona since they first came out, and was hoping to pick up a BNIB or LNIB on the secondary market in the sub $50k area, but never did. However, as we all know, rather than staying at that price point, they went in the extreme opposite direction. With all the rumors of being soon discontinued, I once again re-launched my search a few weeks ago (although I really hated finding myself in a position of having to chase the momentum).

In the current market, I cannot really find a great condition Platona at a price that feels like a comfortable entry point. Over the last week, from dealers across the U.S., I have been offered 5 years old with some dings for $100k, 3 years old unpolished (but in need of refinishing) for $110k, and BNIB for an average price of about $130k (prices rounded, not exact). Thank you to the very kind TRF members who provided me with insight over the last few days.

My concerns on a purchase like this, right now, are numerous, obviously. But a primary concern is that I would buy it BNIB for call it $130k, remove the stickers and wear it, and (although I'm extremely careful with my watches) then require the worn market on this watch to appreciate another $15k or so to allow me to exit the watch for what I paid (if I ever wanted or needed to sell it). I don't know that I see another +$15k in this market with relative confidence.

When I spoke to a few non-ADs about this, they told me they won't stock this piece (or probably even buy it from me) because they wouldn't commit the capital to buy the watch for inventory (not many people walk in ready to spend $100k for a watch at a neighborhood shop) and it's just a lot of work to resell in general.

As I've thought about it over the last few hours, I have decided to suspend my fervent search and just see if anything comes around. While I own far too many watches (like many of you) to wish for the market to "come back down," I would like to see where this Platona market in particular goes. It's already traded to +60% of retail - does it have another 60% of upside? Not sure I see this as a $200k watch, but hard to say!

Unfortunately it feels like it's become such a hype piece over a very short time period, that perhaps the supply has been hoarded by speculators hoping for its discontinuation. I suppose only time will tell where this supply goes, and when.

In the meantime, I will enjoy my other watches (such as my black DaytonaC acquired last week) and continue a passive search. Maybe one day I will be fortunate enough to post an incoming on the official Platona owners thread!

Best wishes to all. Thanks for reading.

If you had started looking in late 2019 i saw several at ADs on the east Coast (DC and VA) and in the Caribbean (Bahamas and US V.I.).

Since the pandemic started they’ve become more difficult to get.


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[ks58]

Definitely a unique market to buy this piece at a high price point. And not many around. But we all do whatever with our money. I’m sure anyone’s new car is a dumb purchase right off the lot except for select vintage and Ferraris.