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7 February 2022, 03:07 AM | #1 |
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No one blames c24?….
I’m not too fussed or get heated by the investment and talk of watches going up in value here personally, it’s part of the game nowadays. But it’s a very very touchy subject for some here.
just a thought but i have never seen anyone blame Chrono24, I think their watch collection and price charts have had a ginormous effect on the market. I mean every time I check it I seem to be a another few thousand up. Just some food for thought. |
7 February 2022, 03:10 AM | #2 |
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Hold on here...are you suggesting a company in the watch selling business wants prices to climb?.??.
I don't blame C24 for the same reason I don't blame DavisdSW, Instagram, The RolexForum, YouTube, Hodinkee or John Mayer. Prices are a result of people willing and able to pay inflated prices with no regard to value. Sent from my SM-G991U using Tapatalk |
7 February 2022, 03:14 AM | #3 |
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It's only a problem because amateur watch "investors" believe that the C24 estimate is backed by actual selling price data. Selling price data is private. I just bought a watch on C24 last week and it was 15% off asking price. I added it to my collection, and they pegged the value at a 25% markup from what I paid. In fact, the estimates for my collection are at least 25% inflated. I laugh at thise folks that use this garbage data for "market analysis"
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7 February 2022, 03:15 AM | #4 |
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The c24 prices are speculative nonsense.
Real world example: Cheapest BLRO in the UK on c24 is £19995, pre owned, worn, private seller. There are dozens at £25k + all over the world. My local High St. greyD had two in the window within the last few weeks at £18200 and £18500, unstickered, unworn. |
7 February 2022, 03:21 AM | #5 |
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”Prices are a result of people willing and able to pay inflated prices with no regard to value.”
This statement strikes me as curious. What relationship does the msrp actually have to the “value” of the watch…in terms of material / engineering …none. The msrp of 40k for a PM GMT or 70k for the platinum daytona has no grounding in the actual value of materials in the watch. The market price is the true “value” of the watch. |
7 February 2022, 03:27 AM | #6 |
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C24 also includes a hefty sellers' fee/commission. Blaming them however is a fool's game!!
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7 February 2022, 03:39 AM | #7 |
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"Prices are a result of people willing and able to pay inflated prices with no regard to value."
This is the "Real" reason for this current situation. Buying social media hype, keeping up with the herd to be seen with the brand. Not the the value of workmanship and materials. You can buy a ceramic bezel stainless automatic 300m diver for $150. Sure there is a little difference in the workmanship, but not $9000 worth. People buying the brand these days, not the watch like we used to.
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7 February 2022, 03:41 AM | #8 |
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It’s just a platform grouping sellers. C24 doesn’t set prices.
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7 February 2022, 03:42 AM | #9 |
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Correct, but their massively inflated "valuations" are their own doing.
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7 February 2022, 03:43 AM | #10 |
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Because it is clearly all the fault of "crypto guy." He is my favorite Rolex market scapegoat currently.
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7 February 2022, 04:02 AM | #11 | |
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Quote:
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7 February 2022, 04:17 AM | #12 |
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DJ2020 is on to something. Not only can you buy a similar watch for $150 (with slightly lesser workmanship than a Rolex) but they say the latest $1,000 counterfeit Rolex Rolexes appear to have the same workmanship as the real thing, including a counterfeit Rolex movement that dealers can't tell isn't real when they open the watch. So if a Sub or GMT or Daytona can be made to look genuine and sold for $1,000, couldn't Rolex do the same thing? Is it a matter of time until the buyers realize a Rolex is a $1,000 dollar watch with a $20,000+ profit, for the seller? Will they one day drop in value like an anvil and we'll be stuck with "worthless stock" after the market crashes?
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7 February 2022, 04:19 AM | #13 |
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7 February 2022, 04:33 AM | #14 |
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Its a luxury good. Many people will pay for the experience and security a DavidSW transaction provides. Not everyone is willing to wire $$$ to a stranger for watch, and buy sight unseen.
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7 February 2022, 05:07 AM | #15 |
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Definitely contributed. If this had been around for beanie babies it would have been the same thing.
It’s ridiculous to think there is a price chart for a watch people are monitoring like equities… just like stocks if everyone hits sell simultaneously (more so if you’ve borrowed money to buy or are forced to sell for external financial reasons) there is a hard and quick move down in price discovery….. People on this forum even today occasionally post “I need to sell a watch for financial reasons” - and we’re in the best economy in decades… another time I was in an AD someone was applying for store credit to buy a PM/OF Skydweller… It works as long as money is cheap and the economy is doing well…. Maybe that continues for 10 years? Who knows.
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7 February 2022, 05:43 AM | #16 | |
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7 February 2022, 05:51 AM | #17 |
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The market is not being manipulated. Willing buyers are lined up to buy watches for above MSRP. You are not willing to pay what it costs to get one. Thats your choice.
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7 February 2022, 06:04 AM | #18 |
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7 February 2022, 06:11 AM | #19 |
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7 February 2022, 06:12 AM | #20 |
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Just because you won't send a wire or pay over MSRP doesn't mean others won't. It is not the work of C24 raising prices of watches WORLDWIDE. Flex culture along with rising demand have changed the market.
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7 February 2022, 06:14 AM | #21 |
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Me too, but I have bought some grey as well.
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7 February 2022, 06:31 AM | #22 |
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C24 is just a platform that meets a market need. If it didn’t exist those listings would feature on other platforms.
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7 February 2022, 06:34 AM | #23 |
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7 February 2022, 06:39 AM | #24 |
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Whats the purpose even looking to assign “blame” to anyone with a free market?
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7 February 2022, 06:44 AM | #25 |
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They want you to think that, but the data is bogus. No way is the watch I bought last week on C24 worth 25% more than I paid for it. C24 valuations are a joke.
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7 February 2022, 06:44 AM | #26 |
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Sour grapes because they cant buy at MSRP?
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7 February 2022, 06:48 AM | #27 | |
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I’m just saying this platform is the only, to my knowledge that gives data like this on watch prices. |
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7 February 2022, 06:49 AM | #28 |
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7 February 2022, 06:49 AM | #29 |
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A Rolex watch, also a status symbol, is a prime example of a VEBLEN GOOD; the definition fits it perfectly. A Veblen good is a type of luxury good for which the demand for a good increases as the price increases. A product may be a Veblen good because it is a positional good, something few others can own (i.e. Rolex).
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7 February 2022, 06:58 AM | #30 | |
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I'm sure the market is being manipulated to some point but I think it's more impacted by people willing to waste their money. |
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