When will second hand Rolex dealers get desperate?

[amh]

Originally Posted by hojlund

the whole luxury market is dead as a rotten fish. the usual biggest demand country China, whose economy is in turmoil due to the housing market bubble burst! demand for rolex is virtually not exist and people are dumping their rolrxes for cash to pay debt. Grey dealers are in panic mode now already.

ok

[fsprow]

Originally Posted by hojlund

the whole luxury market is dead as a rotten fish. the usual biggest demand country China, whose economy is in turmoil due to the housing market bubble burst! demand for rolex is virtually not exist and people are dumping their rolrxes for cash to pay debt. Grey dealers are in panic mode now already.

Perhaps wait a bit longer in the morning before hitting the bottle.

[m j b]

Originally Posted by fsprow

Perhaps wait a bit longer in the morning before hitting the bottle.

LOL.

Remember, this is an international community, so it may already be the end of the day wherever he/she is at.

[m j b]

Originally Posted by Calatrava r

Not in most places such as the US with their strict currency laws. Any purchase over 10K is a required report by the merchant to the taxing authority.

Yeah, that is so not true and is totally inaccurate. US Banks are required to report large cash transactions, that's all. There was some talk about reporting all large transactions, I can't remember when/if the rule got passed, but that's a huge volume of reporting, and the IRS or DHS or anyone else is not going to single out your $15K transaction to buy a Swiss bauble.

Originally Posted by Gearjockey

I love this thread because it’s bringing out the very highest quality people on The Rolex Forum!

[Ravager135]

Prices will come down, but until you can walk into an AD, browse a majority of the professional models for purchase, and walk out with one at MSRP they will remain bloated on the secondary market. That bloat is largely reflective of the wait time. To that end, steel Daytonas will always remain well above MSRP on the secondary market. I started collecting in 2008 and they weren't in windows then.

The first signs that stainless steel professional models will be approaching MSRP will be when BNIB precious metal watches are being sold at MSRP or just slightly under by grey dealers. Next Datejust prices will fall. Then you can start to bet on Submariners, GMTs, etc coming closer to MSRP as well.

Mind you; these are not predictions per se, just what I would expect to see if things ever go back to what they were pre-2016/2017ish.

[Dan Pierce]

A week from Thursday.
dP

[INC]

Originally Posted by m j b

and the IRS or DHS or anyone else is not going to single out your $15K transaction to buy a Swiss bauble.

Mostly, because the banks will not even recognise what was the reason of the transfer. They know the involved persons, the amount, but not the purpose of the transfer.

[Olive Drab]

Originally Posted by m j b

Yeah, that is so not true and is totally inaccurate. US Banks are required to report large cash transactions, that's all. There was some talk about reporting all large transactions, I can't remember when/if the rule got passed, but that's a huge volume of reporting, and the IRS or DHS or anyone else is not going to single out your $15K transaction to buy a Swiss bauble.

CTR/8300 filing responsibility goes beyond banks

[Calatrava r]

Originally Posted by m j b

Yeah, that is so not true and is totally inaccurate. US Banks are required to report large cash transactions, that's all. There was some talk about reporting all large transactions, I can't remember when/if the rule got passed, but that's a huge volume of reporting, and the IRS or DHS or anyone else is not going to single out your $15K transaction to buy a Swiss bauble.

My understanding is banks are required to reports currency transactions over 10K occurring in their banks, but stores which deal in cash such as supermarkets can deposit unlimited cash in banks with no reporting needed by the banks. Whether jewelry stores and car dealers are also exempt from bank cash reporting is the question.

[Olive Drab]

Originally Posted by Calatrava r

My understanding is banks are required to reports currency transactions over 10K occurring in their banks, but stores which deal in cash such as supermarkets can deposit unlimited cash in banks with no reporting needed by the banks. Whether jewelry stores and car dealers are also exempt from bank cash reporting is the question.

they are not exempt from filing.

[Mathematoxic]

Originally Posted by Ravager135

Prices will come down, but until you can walk into an AD, browse a majority of the professional models for purchase, and walk out with one at MSRP they will remain bloated on the secondary market. That bloat is largely reflective of the wait time. To that end, steel Daytonas will always remain well above MSRP on the secondary market. I started collecting in 2008 and they weren't in windows then.

The first signs that stainless steel professional models will be approaching MSRP will be when BNIB precious metal watches are being sold at MSRP or just slightly under by grey dealers. Next Datejust prices will fall. Then you can start to bet on Submariners, GMTs, etc coming closer to MSRP as well.

Mind you; these are not predictions per se, just what I would expect to see if things ever go back to what they were pre-2016/2017ish.

A brand new full set 126508 Paul Newman dial sold at $43200 on MODA auction on 28 Dec. Very close to msrp.

[Maverick_1908]

Originally Posted by thegrandseirolexguy

Rolex / PP / AP Watches are highly desirable as a store of value for another reason. Money laundering.

You typically can’t take more than US$10,000 cash with you through many international airports or customs without raising eyebrows.

Strap a 100++ grand watch on your wrist and the customs officer won’t even bother to rise.


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You hit the nail on the head.

[EEpro]

Originally Posted by tawanagates

Predicting desperation in the volatile world of luxury goods is tricky. While economic downturns or shifts in consumer taste can impact demand, Rolex's enduring status as a coveted brand and their tight control over supply suggest second-hand market fluctuations might be more nuanced.

So, while desperation isn't guaranteed, a confluence of factors like prolonged economic hardship or a significant drop in demand for specific models could lead to increased price flexibility and negotiation opportunities for buyers. Ultimately, it's a dynamic market best navigated with patience and observation.

Ok chat GPT

[painexpert]

Dont hold your breath.

[Rori]

Originally Posted by njlam

No, it takes the ADs to stop backdooring their inventory to them (and sharing the profits).

that also


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