Prices dropping in Asia for Panda/GMTs

[93 Turbo]

What goes up...

[Podmornica]

Originally Posted by Sandpit

Is it? The Nasdaq is down 14% year to date. SP500 8%. Shanghai Composite has taken a beating too. In fact I think most big indexes have.

Who knows if prices are in any way linked to the stock market anyways. I'd be more inclined to think that with rising inflation and rising interest rates people just generally have a bit less cash to spend.

Good comeback. I was actually following the DOW rate for some weeks and was surprised how resilient it was considering everything that is going on in the world .. Literally went up after the FED announced the rate hikes. Was in a retrace a few days after the war started but soon bounced .. IMO the stock market is long detached from reality anyway, but it seems a lot of ppl throw in the free money from 2020/21 in stock market and were purchasing luxury items with the profit.

[Harry-57]

Oh good. Hello MSRP, good bye wait list. Can't wait.

[Mathematoxic]

Originally Posted by iw8888

i see, interesting phenomenon. People buying pandas at these prices are probably flippers doing B to B trading; not to end-users per se

I do know afew end users buying at just under 51k USD for their own enjoyment.

[ts3]

Where I live Patek Nautilus prices have come under pressure after the latest price explosion since Nov/Dec. There are just a lot more buyers for a 5711/12 at USD 100k than near 200k. On top the tragic war has people wonder about others things than spending crazy money on a pretty basic watch. Dealers have started to reduce asking prices and have more inventory than in years. There is lots of room for a massive correction. Who wants to stop a falling knife?

[iw8888]

Not just the SS Daytona; PM Daytonas have also taken a hit

[Mystro]

Hey we made it 4 whole days with another “prices are falling” thread.

[1William]

Slight adjustments in the market, either up or down, does not indicate a trend or a meaningful decrease/increase. Tracking the prices day to day and extrapolating the data over a meaningful time period, month/yearly quarters/annually, would provide a better understanding of prices and availability. Also, so many factors figure into understanding prices.

[JRell]

MSRP is still MSRP, that is all I care about.

[rmwill]

Put your money in Omega watch investors. Your children will thank you!

[beshannon]

Originally Posted by iw8888

Price adjustments are happening in Asia - HK/SG/Malaysia etc

prices across almost all models are dropping - especially pandas, Pepsis, rootbeers...

Dealers are dropping prices - hundreds to almost a thousand - by the day..

So they will be free by next week?

Cool story, would not read again

[iw8888]

https://www.rolexforums.com/showthread.php?t=844431


seems like Japan as well based on this thread above

[Chester01]

So, I have owned Rolex since the mid 90's, been through many a recession. Can't say I ever recall a time they went down significantly (from MSRP). What you are saying is that a bit of the inflated prices went down. That's like a stock and will vary. These Gray market folks get lots of inventory and buy up AD stock and so have desirable and less desirable pieces and so have to make moves quickly.

What folks need to realize is that since insta and the social media, many folks made a killing in the markets in the last 10 years and many in the field never seen a downturn and so started treating Rolex as a commodity to be traded like bitcoin or GameStop and so these hyper inflated prices over MSRP will fluctuate but cannot just keep heading north.

The entire thing here is based on a house of cards, i mean there is no scarcity, you just have pinched supply at the AD due to the hundreds of gray market folks/speculators snapping up watches. Its hard to say how much, but at this point it would not surprise me if the majority of the demand os from gray market and speculators rather than your average joe looking buy a graduation gift. People like to delude themselves that that there is all this demand from emerging markets. Its like the vast majority of the world lives on less then 10 bucks per day, the average joe has seen their real wealth decline significantly in the last 20 years, and even if an average joe wanted and saved for a rolex they can't source one. Who is really driving this train? The more investors take over, the more volatility folks will see in these prices.

So it's like folks say well there is just so much demand, yeah from investors. Like all commodities and stocks the longer the geopolitical events continue to play out and increasing interest rates, the circus will end.

[garyk]

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[Sandpit]

Originally Posted by Mystro

Hey we made it 4 whole days with another “prices are falling” thread.

You do realise the thread says Asia but you've got a filter on for USA don't you.

[edisonstar23]

Originally Posted by Jojomojo

I hope it crashes to below retail & all the grey market dealers go bankrupt.

I think most of us felt that way at some point these past 2 years lol the gray dealers had nothing to do with this craziness though! Its the speculators, the watch investors and the Instagram influencers that caused this nonsense.

Gray dealers just buy and sell based on what the market m. Many years they sold under retail! It’s easy for them to take the blame


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[mobster600]

The watch market is due for a correction.

[dpt.calvin]

Originally Posted by Jojomojo

I hope it crashes to below retail & all the grey market dealers go bankrupt.

Years ago, secondary dealers were our “friend” and a good way for us to get things below MSRP. Funny how attitudes change when things are not in your favor.

[GGGMT]

Originally Posted by Sandpit

OP - you'll get flamed for this without anything to back it up. The panda boys don't like being told their watches are decreasing.

Hilarious!


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[Jim P]

Originally Posted by dpt.calvin

Years ago, secondary dealers were our “friend” and a good way for us to get things below MSRP. Funny how attitudes change when things are not in your favor.

Very interesting. I never thought of this, but it is so true! Thank you this really is a healthy thought process of the reality of the "biz".

[Tavli3]

Have u guys not seen what happened to HK and Shanghai stock markets last week and this week. Was a bloodbath until Xi said they would support the market and developers. Market rebounding almost 50%. So buy now while the sale lasts. Prices will soon be heading north again. Lol


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[Randy9999]

Well, the price in rubles is skyrocketing.

[hitman23]

"panda boys"

hilarious

I'll join the panda boys for retail

[GT23]

“Am I the hot topic?! Chew chew ”


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[macrowatch]

Originally Posted by garyk

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Hey garyk, it looks like that panda is hanging on the tree an inch lower than yesterday.

[mfserge]

Good I hope the values plummet back to msrp so we can all get what we want and not have to deal with this BS about Rolex being an investment.

[xeal]

Originally Posted by dpt.calvin

Years ago, secondary dealers were our “friend” and a good way for us to get things below MSRP. Funny how attitudes change when things are not in your favor.

Very true. Most don't realize the risk the grey also carry. ALOT of them were panic selling the last few days. Do not hate the players...

Originally Posted by Tavli3

Have u guys not seen what happened to HK and Shanghai stock markets last week and this week. Was a bloodbath until Xi said they would support the market and developers. Market rebounding almost 50%. So buy now while the sale lasts. Prices will soon be heading north again. Lol


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While you could be right, the baseline still remains, that this market is not immune, and that it IS volatile for those that are buying at crazy prices.
It worked out well for the last 2 years in 100% of the instances clearly for folks that did buy in hopes that value goes up, but if you know dealers or have any intel into whats been happening in the last few days (GLOBALLY) with dealers, you will know that there was(is) panic.

Watches havent been selling the same and the confidence was pinched.
I don't disagree with what youre saying although theres no certainty, it could simply just correct and stabilize, or correct and trend upward again.
But the market isn't immune to strong corrections in times of uncertainty.
The fear and lack of confidence is contagious. You can easily find less demand in a platinum daytona baguette at $150K when there is uncertainty and it doesn't appear that it would appreciate from there, VS when its at $230K and prices seem to climb every 5 days.

[NYG1121]

Originally Posted by Chester01

So, I have owned Rolex since the mid 90's, been through many a recession. Can't say I ever recall a time they went down significantly (from MSRP). What you are saying is that a bit of the inflated prices went down. That's like a stock and will vary. These Gray market folks get lots of inventory and buy up AD stock and so have desirable and less desirable pieces and so have to make moves quickly.

What folks need to realize is that since insta and the social media, many folks made a killing in the markets in the last 10 years and many in the field never seen a downturn and so started treating Rolex as a commodity to be traded like bitcoin or GameStop and so these hyper inflated prices over MSRP will fluctuate but cannot just keep heading north.

The entire thing here is based on a house of cards, i mean there is no scarcity, you just have pinched supply at the AD due to the hundreds of gray market folks/speculators snapping up watches. Its hard to say how much, but at this point it would not surprise me if the majority of the demand os from gray market and speculators rather than your average joe looking buy a graduation gift. People like to delude themselves that that there is all this demand from emerging markets. Its like the vast majority of the world lives on less then 10 bucks per day, the average joe has seen their real wealth decline significantly in the last 20 years, and even if an average joe wanted and saved for a rolex they can't source one. Who is really driving this train? The more investors take over, the more volatility folks will see in these prices.

So it's like folks say well there is just so much demand, yeah from investors. Like all commodities and stocks the longer the geopolitical events continue to play out and increasing interest rates, the circus will end.

Couldn't have put it any better. This is exactly the situation

[Chester01]

Originally Posted by NYG1121

Couldn't have put it any better. This is exactly the situation

Lol, I’m surprised anyone read my comments as it certainly was quite lengthy!


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[garyk]

Originally Posted by macrowatch

Hey garyk, it looks like that panda is hanging on the tree an inch lower than yesterday.

This is his brother…