Rolex market soft

[madmax21]

I'm sure everyone's noticed by this point that the watch Market has become very soft, it's been happening for some time now but in Canada specially I find it's really hit a peak.

Of course they were saying that we were having a price increase but never came about is that the main reason for this or is it just the cycle.

I'm interested to know your thoughts on this and for all my US friends is the same happening in the US.

[japenney]

I haven't seen much change to the prices in canada. If anything i cant get as good of a discount as i could 5 years ago. Hulks and blnrs are still selling for 10k cad preowned. I have not seen anything sell for a price that surprised me.

[Clay]

If that is indeed the case then I guess I'm glad I sold all my watches last year...

[madmax21]

Originally Posted by japenney

I haven't seen much change to the prices in canada. If anything i cant get as good of a discount as i could 5 years ago.

I've noticed a Sub C w dates brand new box papers Still wrapped for 8500 asking price.. of course it depends what you're looking for from the ads I've seen in Toronto the mainstream watches like submariners and GMT s aren't selling like they did four months ago

[japenney]

Originally Posted by madmax21

I've noticed a Sub C w dates brand new box papers Still wrapped for 8500 asking price.. of course it depends what you're looking for from the ads I've seen in Toronto the mainstream watches like submariners and GMT s aren't selling like they did four months ago

I've never seen a bnib sub c date sell for much less than 9k. The owner of canwatchco sells them for 9.4k.

Sent by my pet Gekko

[tomchicago]

Global asset prices are so so very fragile. Central bank boluses are losing their effectiveness. Nothing has been done since 2008 except money printed, dividends paid, and stock bought back. It hasn't even started.

[madmax21]

Originally Posted by japenney

I've never seen a bnib sub c date sell for much less than 9k. The owner of canwatchco sells them for 9.4k.

Sent by my pet Gekko

Frankly I'm going to put in an offer I might pick it up

[japenney]

Originally Posted by madmax21

Frankly I'm going to put in an offer I might pick it up

I would. Impossible to lose money on a sub c date for 8500. Good luck.

Sent by my pet Gekko

[jrs146]

Not sure if I'd say it's "soft" right now... but maybe not inflating as much as it has over the last few years.

[77T]

The market in preowned hasn't shown a weakness yet. It generally floats on Rolex MSRP action and lags a few months with exceptions for discontinued models/references.
On new - it's true Rolex didn't do world wide hikes on existing references this year (yet) and they prolly will continue that trend until they see strength in demand.
Something I do expect is a less prominent pricing strategy as each model is either "refreshed" or updated completely. Just using the SS Daytona for a moment, the 520 was replaced with the 500 at a higher MSRP. There are other examples. So on balance the market is still holding its own with some brands getting slight growth - just not hitting double digit growth.
Omega by comparison is getting new models, as has Tudor, at price points above their prior marks. But still lower than entry point for Rolex - so they have eroded some Rolex sales methinks.


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[mmbiker]

Originally Posted by madmax21

I've noticed a Sub C w dates brand new box papers Still wrapped for 8500 asking price.. of course it depends what you're looking for from the ads I've seen in Toronto the mainstream watches like submariners and GMT s aren't selling like they did four months ago

8500cad including taxes for Subc date? That is good price if including taxes! You making me feel sad now as I have a Subc no date


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[mtgjr]

Originally Posted by mmbiker

8500cad including taxes for Subc date? That is good price if including taxes! You making me feel sad now as I have a Subc no date

I thought people only bought the ND because they liked the clean and balanced dial, or didn't need the date, or didn't like the cyclops, etc. I've never heard anyone admit they bought the ND because they couldn't afford - or didn't want to pay up for - the Date.

[GB-man]

Soft yes but rolex is and likely always will be the safest among watches.

[modee]

The top desirable Cosmograph vintage market prices have been dropping based on what I've seen for sale two years ago and prices I've been offered for my vintage this year. Also based on what I've seen for sale. The crazy asking prices are still there but many reputable sellers offering today at what these sold for five or so years ago.

There are also oddball low deals out there on newer models for example just saw a 118206 offered US $20K which is 5K less than I paid about 13 years ago for my 118206 with diamond jubilee dial.

I narrowly missed buying a 116509 (full white gold bracelet) with meteorite dial, perfect condition, for US $18K from a local dealer. Someone else got it.

Such deals are representative of a soft market.

[RW16610]

It certainly is. Although we're in the financial capital of Canada, it can be REALLY hard to move certain watches here. Inventory seems to be sitting much longer at the "vintage" watch shops too.

According to Reuters

Swiss watch exports dropped 9.5 percent during the first four months of the year, reflecting dwindling sales and high stock levels in No.1 market Hong Kong.

As mentioned above, Rolex is the best way to go. That being said even some of those are sitting listed for a bit longer than before. Makes me glad I'm not a flipper sometimes. Now if I lived in the States that might be totally different given the options of a much larger domestic market.

[Lrlx]

Originally Posted by japenney

I would. Impossible to lose money on a sub c date for 8500. Good luck.

There are 3 BNIB for sale at $7500 on the interwebs...

[Etschell]

Originally Posted by madmax21

I'm sure everyone's noticed by this point that the watch Market has become very soft, it's been happening for some time now but in Canada specially I find it's really hit a peak.

Of course they were saying that we were having a price increase but never came about is that the main reason for this or is it just the cycle.

I'm interested to know your thoughts on this and for all my US friends is the same happening in the US.

It's softer and I've gotten lucky. How soft? I was able to purchase a bnib 114060 for under 6k.

[japenney]

Originally Posted by Lrlx

There are 3 BNIB for sale at $7500 on the interwebs...

We are talking in Canadian $.

Sent by my pet Gekko

[mmbiker]

Originally Posted by mtgjr

I thought people only bought the ND because they liked the clean and balanced dial, or didn't need the date, or didn't like the cyclops, etc. I've never heard anyone admit they bought the ND because they couldn't afford - or didn't want to pay up for - the Date.

Is that surprise is hurt my feeling? I buy whatever I want.


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[Richard Carver]

When a nice, freshly serviced 16570 white with B&P and bracelet hits 3900 let me know. :)

[porschejeff]

Recent article in the Wall St Journal about the swiss watch industry how sales have dropped for the first time since 2009 and exports are down 15%. The strong Swiss Franc kept prices high. Also the weak Chinese Yuan and chinese economy and chinese corruption has had a significant effect on the luxury watch market. The article goes on to say that even discounting may not be enough. It indicates some swiss watch brands are cutting prices 5 to 7% but it won't last. Unfortunately I can't attach a link to the article as you need a WSJ subscription to access it.

[mtgjr]

Originally Posted by mmbiker

Is that surprise is hurt my feeling? I buy whatever I want.


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Surprise say what?? No, I was commending you for your honesty.

[Muzz]

I will be in TO next week. Have to check out my AD and report back.

[HL65]

Market overall is soft for most high end brands but within each watch brand are references that have high demand and lower supply this command strong prices. Not all watches within a brand were created equal. Also the vintage market still remains strong although I am starting to see collectors privately letting go of some of their prized treasures. Overall that market is still solid. Just my humble opinion...

[iazrollie]

Why would prices go up? The CHF has come way down, so why would Rolex need to raise prices?

[busytimmy]

IMO it's a real buyer's market out there!

[landroverking]

Rare vintage will always be high. Run of the mill examples are dropping.

[madmax21]

One thing that hasn't been talked about yet and I thought about, is the whole thing with England leaving the EU and how this will affect prices going forward.

I know that especially tool watches are hardly discounted at all in England will the discounts become bigger or will the prices increase now that the brexit is looming

[Tebow15]

Soft market? Have you seen the prices move down much over the last several months in the Classified section? No.

Want another good gauge of the market? Look at DavidSW prices. They haven't budged recently and he is probably one of the larger dealers.

[Star Ferry]

It's the weakening value of CAD.. Rolex MSRP has been raised to reflect the lower currency value, while local salaries haven't changed at all. As a result, fewer Canadians can now afford Rolex compared to a few years ago.