Current resale market

[gtbguy]

The current watch resale market sure feels weird. Three years ago anything with a second hand would sell in hours.

I follow Rolex, AP, PP, and Lange. Today, the only watch selling quickly is Rolex. PP, AP and Lange, several of their models just aren't moving. I'm seeing the same inventory on many websites without any change in prices. I don't know how any business can survive without moving merchandise. If you watch any of the auction websites the closing prices at the end of the auction are much less than the reserve price. I think we are beginning to see a correction. Maybe that is a good thing for us non-flippers.

[unknown]

Originally Posted by gtbguy

I think we are beginning to see a correction.

Beginning to see ??

Have you been in a coma for the past three years? :-) Or were you just taking an extremely long winter sleep?

[dchang81]

There seemed to be a quick bump up with the tariff concerns and pieces moved quickly then all of a sudden hit a standstill again.

[gtbguy]

Originally Posted by dchang81

There seemed to be a quick bump up with the tariff concerns and pieces moved quickly then all of a sudden hit a standstill again.

Some chatter about the tariffs will push up the resale market. Maybe for certain pieces, its posible.

[dpj17]

The true test, as always, is to ask what these sellers are buying your watch for, if they are even interested. Most of these dealers are up to their ears in inventory and having trouble moving anything that isn't steel sport Rolex.

[enjoythemusic]

Thankfully there are great buying opportunities to be found, BE PATIENT and wait as the market is changing. :)

[z train]

The S&P 500 has about 2000 more points to run and then we will see the decline/bubble burst everyone has been speculating about. Give it a few months.

[gtbguy]

Originally Posted by dpj17

The true test, as always, is to ask what these sellers are buying your watch for, if they are even interested. Most of these dealers are up to their ears in inventory and having trouble moving anything that isn't steel sport Rolex.

Yep, totally agree.

[gtbguy]

Originally Posted by enjoythemusic

Thankfully there are great buying opportunities to be found, BE PATIENT and wait as the market is changing. :)

I'm thinking the same, as they say "patience my friend, patience".

[1William]

I watch the market for Rolex and several other brands Omega/Tudor/GO, etc. and depending on what you are interested in there are some watches that are going for fair prices. The SD43 comes to mind as it can be purchase below msrp. right now for a nice pre-owned model. There are others but if you are looking at a BLRO/Daytona or other hot piece then it appears that they are up. The watch market is not transparent and even the best attempt to analyze data is at best lacking. Speculation abounds but in my thirty plus years of collecting/buying/selling I can tell you that any watch from a major desirable brand, Rolex/PP, is going to be more expensive in the long run.

[BraveBold]

I made a very strong but fair offer on a Patek dress watch about 9 months ago. It was $750 below ask on a $20k-ish watch. That watch is still sitting today, 9 months out. I would still like to own it today but my offer would be an additional $2k lower. Because I am not looking to burn bridges, and because I know I have alternatives, I am holding off on reaching out to re-engage.

But I have certainly noticed not just the price correction but also the slowdown in turnover in listings. Houses too, so not unique to watches.

[cascavel]

If the 39% tariff on Swiss imports to the U.S. sticks then secondary market prices in the U.S. will rise. Primary sales from ADs will decline for those who pass along the tariff increase and more buyers will take advantage of the enormous spread between retail and grey market.

[~JJ]

Originally Posted by cascavel

If the 39% tariff on Swiss imports to the U.S. sticks then secondary market prices in the U.S. will rise. Primary sales from ADs will decline for those who pass along the tariff increase and more buyers will take advantage of the enormous spread between retail and grey market.

In theory, but I think people are being squeezed from every side and the pool of people purchasing luxury goods is drying up. Upper end will keep purchasing, but the aspirational consumer will be gone.

Patek keeps raising prices when their non-sports watches sell at a significant discount in grey market… they are following the wind shift, by selling half the units at double the price so to speak.

[gtbguy]

Originally Posted by ~JJ

In theory, but I think people are being squeezed from every side and the pool of people purchasing luxury goods is drying up. Upper end will keep purchasing, but the aspirational consumer will be gone.

Patek keeps raising prices when their non-sports watches sell at a significant discount in grey market… they are following the wind shift, by selling half the units at double the price so to speak.

Totally agree, most luxury item sales are indeed slowing way down. With the economy shrinking more and more folks are getting rid of their toys, watches no doubt being one of them. If the economy continues to slow down, many businesses may eventually need a cash infusion and selling a $20K Patek may do the trick. The guy with a $200K Journe watch isn't likely to be affected by today's economy, to where he needs to sell part of his watch collection to keep his business running.

[salnuaimi]

why lange is next to the rest? lange doesnt sell at all here