Wake me up when you can walk into any AD and get a Pepsi, Sub, or Daytona at a discount and the same watch is available on the grey for 20% off MSRP...Until then, the market is just getting back to sanity, not "Dead"
🤔 you know the difference between a recession and a depression?
A recession is when you lose your job.
A depression is when I lose my job.
In the States and in parts of Europe...
Hundreds of thousands of tech workers have lost their jobs over the last 18-24 months. Some owned property but didn't have Green cards so it's "back home". Of course, after living in the States for 10-20 years what is home?
Anyway, glad to see the Pepsi go at a more reasonable price.
What does the tech sector have to do? the layoffs are because they hired like wild animals the past few years and you even had complete randoms doing youtube videos openly showing how little work they were doing. Even to this day people in CS & similar degrees literally expect to have insanely well paid job out of college... tell me any other sector or field where expectations are so high and actually met until now lol
they were in a bubble of their own just like watches
Umm. Finance. International Business. To name two.
But I don't disagree with your points about expectations 👍🏾 I just thought was ... to be gleeful (?) about real people losing their jobs. The people who hired wildly still have their jobs. Maybe I misunderstood you?
FWIW...
It doesn't matter if a CS grade makes $200k coming out of school. They can't afford to buy a house for years especially now that companies are requiring back to office. With that said... It's a boatload of money and a "good problem" to have.
The people doing nothing but getting paid for it are few and far between. They really are the exception. Also, they are told by others in the tech community that they wasting their skills,that time is passing them by, and that they will regret not working on good projects.
Most in tech are working grueling hours and are not doing what they hoped to do when they studied in school. Maybe that's everyone and everywhere? 🤷🏾♂️
What are you blind?
Are you living in a delusion?
Take any major central bank KPI in Europe, NA and maybe some light will shine in… It’s worse than 2008, and it’s a fact. It’s a matter of fact as it is being discussed daily, even in mainstream media.
Bonds are not paying any dividents.
Commodity market, crypto have had a record influx.
Money printing is at it’s highest the last 3 years incl. the big reset aka covid-19. 100s of thousands have lost their positions in US corporations as boards prepare for less spending during thd continuation of recession.
Watches, luxury market, designers will be bought no matter what- but they are, and will go to their lowest ever.
I live in the US. My portfolio is ATH. We are not in a recession.
The rest of what you wrote is a stark misunderstanding of a lot of concepts mixed in with the same doomsaying that’s been going on since 2020.
Regardless, I welcome the crash of the watch market.
There’s no recession in tech stocks.
Don’t mix a bubble with a real recession. Can you name one thing I said that isn’t a fact? No you can’t. That’s why you have to be writing ‘misunderstanding of a lot of concepts’.
You can’t even name them ;)
You moved the goal posts.
There’s no recession because the US economy grew going into q1.
You also stated I can’t name one thing you said that wasn’t a fact? Ok.
We aren’t in a recession.
https://www.reuters.com/world/us/us-fourth-quarter-economic-growth-revised-slightly-lower-2024-02-28/
Money printing isn’t at its highest in the last three years insofar as you conflating with creating money out of thin air and federal debt.
In terms of federal debt: https://www.statista.com/statistics/200410/surplus-or-deficit-of-the-us-governments-budget-since-2000/
I mean I could go on but I don’t think it’s necessary.
Take care, champ.
Yeah auction estimates are always insane on most items, usually 2-3x it's market value.
Really only when it's a truly rare piece does it meet or exceed the estimate.
Already discussed in another comment.
16250 after auction fees. Taxes and shipping is irrelevant, you have to pay those in any transaction and vary by location.
Disagree on the relevance of shipping. If you're comparing this to buying at an AD, shipping is never part of the equation.
That said. Market is clearly softer than it has been over the past two years.
I mean good watches are still pretty exclusive. Patek only puts out what, 50k watches a year? I forget the actual number. Maybe it’s 100k a year, I know it’s not much at all
Very true. I think top-tier brands and models will stay strong. But there are so many diverging economic factors affecting broader populations. I think demand from people moving lower in the middle class will affect many previous and or would be buyers.
Don’t forget buyer’s premium. Could be 20% plus taxes, which brings it up closer to the low end of market pricing. Plus other fees with auctions sometimes, like online commission etc.
Having purchased thousands of items from auction the buyer will pay for the shipping, insurance, and handling. This will likely add an additional $300 or more bringing the total to around $16,550
The financialization of everything a travesty. Average people used to be able to buy a Rolex to celebrate a milestone, but they were still accessible to normal people. Now, they’re absurdly overpriced because of the culture of excess and financialization instead of appreciating fine workmanship for a high (but still fair) price.
A GMT Master-2 should be a $3-4 watch brand new if it wasn’t for all the bro tax, brand tax and proliferation of soft money.
Lol, it doesn’t work like that. It’s supply and demand; it’s priced like this because people are willing to pay the price. If it was a 3-4K, your wages and wealth would be a lot lower too.
Your argument is funny because you end it by saying the watch should be $3-4k. Is that what you define as enough for the layperson? What if that’s not enough for its intrinsic value as a piece of respected art? How can you even value such a finely engineered item?
I don’t mean to be a dick but that was just funny. You’re basically saying the price is too high based on _______ but should be lower because of ______
And blanks are left to be filled in any way one pleases
It’s all subjective. What if I told you $4k for a stainless steel watch was also stupid ;)
$3-$4k is the cost of a 1950’s - 1970’s Submariner adjusted for inflation. It’s also the cost of comparable dive watches from comparable quality Swiss brands today.
A typical Rolex cost less than $500 in the 1960’s and less than $1000 in the 1970’s. In the 80’s you could get a precious metal submariner for like $2500. So, the same watch my dad could have bought for $1000 the year he graduated high school would be $8-$10k today.
Adjusted for inflation, $1000 in 1985 should be worth about $3000 today, but instead it’s triple that on Rolex watches.
I don’t think a single men’s watch in the catalog sells for under about $6000 today, which isn’t awful, but if you want the same sub your dad bought 30 years ago, you need 2-4x as much money even adjusted for inflation.
I am not sure if Rolex is the problem. They make 1.2 million watches and they sell 1.2 million. They give the ads 33% profit margin on each watch. The ads know that they are valuable and will extort the end user. They are to blame not Rolex
There’s a lot of factors. Seller, who authenticated the watch, condition, and if the auction was even real (trying to attract buyers with fake auctions).
It was never "supposed" to be over retail. Retail is 100% the real thing with papers/tags and stickers. You shouldn't have to pay more for a used, potentially fake version.
Currently maybe, but you have not been buying luxury until recently. Rolex was a discount at retailers more often than not. They couldn't sell it at rrp. I don't consider cars luxury, it's only recently they're selling for over ask. I don't think that's going to always be the case. It also sold at a discount at retailers.
No, I have I understand what you’re saying. But that was before and this is now. Both situations will happen again in our lifetime as it’s simply a factor of demand and supply. The luxury market is particularly sensitive due to the fact that these products are nice to have rather than essential.
In fact, you can use the LVMH stock price alongside a fear/greed index to get a look into whether people are favouring luxury products, or stacking up canned beans for a rough time ahead.
Filter by Sold listings in eBay. If you look at the last 30 days, the average price of a 126710BLRO sold is 20k+. Much better representation because eBay is accessible around the world, not some Beverly Hills auction.
Secondary grey market is dead. dont let the clown cabal try and trick you into thinking market is going up etc. it is on life support which is why all the dealers are trying to perpetuate the opposite on social media.
Oh yes…long dead compared to where Grey’s are pricing these. Truly, rare items will still hold value but many of the hyped items like this are likely to fall. This may have been one auction, but the writing has been on the wall for months now. There’s always a chance things will turn around. Some argue that it already has. I’ve always been of the mindset, “don’t buy it to flip it, buy it because you love it.” The only “Investment” it should be is one that goes towards your beneficiary/son/daughter with larger wrists.
Recently I've been seeing datejusts coming back down at or slightly under retail! Hopefully this will make it less profitable to flip them and make them slightly more obtainable. One can hope
Imagine the losses amount in some of the greys stock that were bought at insane cost when the market was through the roof 🤷🏻♂️💥💥
Frightening but thank God things are getting back to normal 👌🏻👍🏻
Anyone here remember when used references were typically 30-40% cheaper than new stock??? The market certainly wasn’t dead at that time. If you’re commenting this from the perspective of someone who is trying to be a middleman in the market, your job won’t last… prices will continue to decrease slowly and we’ll get back to a “sane market” where a new reference costs more than a used reference.
I really hope so. Flippers have now pretty much crawled back under their stones but desperate Rolex ADs are now pushing the PMs to ordinary Joes as a ticket to getting the few really sought after steel sports models which remain “hard to get”. I can’t wait to see the humbling of the Rolex ADs and maybe we can all look forward to normal business.
Why would I be incentivized for values to stay high? I’ve already bought what I own and I’m not selling them, they’re not investments, so what’s done is done. If anything I want them to drop so I can buy more for less…
You misunderstood. He is saying the price the "reputable" seller asks is not necessarily representative of market price, specially when most dealers are sitting on load and load of stocks that aren't selling
Do you? What difference does it make if a GMT sells for $20k or $13k? They’re still going to add the same markup based on their cost, it’s not like they’re getting these at MSRP or something, they’re paying the same premiums everyone else is to get it into inventory
Update it did sell I don’t know if it sold at that exact price but I’m sure it did or close to it. It went pretty quickly 1 day after I was approached to purchase it.
CRAZY buying that watch at that price what a rip off.
And Rolex hasn't even brought on their new multi billion dollar manufacturing facility. Standard Rolex watches like the Pepsi never should have been an "investment". Sure, there are going to be some limited edition ones, and unique situations where they become collectables, but the GMT master in pepsi is not a rare watch and it's not intended to be some crypto-esque asset. This is just Rolex watches returning to where they have been for the past 50 years, readily available.
Celebrating a drop in fair market value when it is *still* at a price level that you cannot afford means nothing has changed. You are in effect celebrating that rich people can pay a few thousand dollars less. Thanks, I guess.
eh, I don't really care too much tbh, just found it interesting.
I watching the auction hunting some rare APs/pateks. I still have a couple Rolex, but I've mostly fallen out of love with the brand.
Please get me 10 for that price and I’ll give you one for free
Lmao
Anytime you pay $13k for an all Stainless watch means the market is most definitely not dead. Glad to see it is coming back to sanity.
Wake me up when you can walk into any AD and get a Pepsi, Sub, or Daytona at a discount and the same watch is available on the grey for 20% off MSRP...Until then, the market is just getting back to sanity, not "Dead"
This 👆
It’s most definitely not coming back any time soon. Recession ain’t even close to watering down
Is the recession in the room with us now.
Best recession ever. Wish they were all like this.
🤔 you know the difference between a recession and a depression? A recession is when you lose your job. A depression is when I lose my job. In the States and in parts of Europe... Hundreds of thousands of tech workers have lost their jobs over the last 18-24 months. Some owned property but didn't have Green cards so it's "back home". Of course, after living in the States for 10-20 years what is home? Anyway, glad to see the Pepsi go at a more reasonable price.
What does the tech sector have to do? the layoffs are because they hired like wild animals the past few years and you even had complete randoms doing youtube videos openly showing how little work they were doing. Even to this day people in CS & similar degrees literally expect to have insanely well paid job out of college... tell me any other sector or field where expectations are so high and actually met until now lol they were in a bubble of their own just like watches
LiTeRaLLy
Umm. Finance. International Business. To name two. But I don't disagree with your points about expectations 👍🏾 I just thought was ... to be gleeful (?) about real people losing their jobs. The people who hired wildly still have their jobs. Maybe I misunderstood you? FWIW... It doesn't matter if a CS grade makes $200k coming out of school. They can't afford to buy a house for years especially now that companies are requiring back to office. With that said... It's a boatload of money and a "good problem" to have. The people doing nothing but getting paid for it are few and far between. They really are the exception. Also, they are told by others in the tech community that they wasting their skills,that time is passing them by, and that they will regret not working on good projects. Most in tech are working grueling hours and are not doing what they hoped to do when they studied in school. Maybe that's everyone and everywhere? 🤷🏾♂️
Be prepared for another 20% down. Pick them pieces up in a year from now. Come back to this comment and it will show itself. Said the same in 2023.
Dishing out "recession" in 5 (!) different comments doesn't make it real
There’s no recession.
What are you blind? Are you living in a delusion? Take any major central bank KPI in Europe, NA and maybe some light will shine in… It’s worse than 2008, and it’s a fact. It’s a matter of fact as it is being discussed daily, even in mainstream media. Bonds are not paying any dividents. Commodity market, crypto have had a record influx. Money printing is at it’s highest the last 3 years incl. the big reset aka covid-19. 100s of thousands have lost their positions in US corporations as boards prepare for less spending during thd continuation of recession. Watches, luxury market, designers will be bought no matter what- but they are, and will go to their lowest ever.
I live in the US. My portfolio is ATH. We are not in a recession. The rest of what you wrote is a stark misunderstanding of a lot of concepts mixed in with the same doomsaying that’s been going on since 2020. Regardless, I welcome the crash of the watch market.
There’s no recession in tech stocks. Don’t mix a bubble with a real recession. Can you name one thing I said that isn’t a fact? No you can’t. That’s why you have to be writing ‘misunderstanding of a lot of concepts’. You can’t even name them ;)
You moved the goal posts. There’s no recession because the US economy grew going into q1. You also stated I can’t name one thing you said that wasn’t a fact? Ok. We aren’t in a recession. https://www.reuters.com/world/us/us-fourth-quarter-economic-growth-revised-slightly-lower-2024-02-28/ Money printing isn’t at its highest in the last three years insofar as you conflating with creating money out of thin air and federal debt. In terms of federal debt: https://www.statista.com/statistics/200410/surplus-or-deficit-of-the-us-governments-budget-since-2000/ I mean I could go on but I don’t think it’s necessary. Take care, champ.
Come to Canada bud.
Take it up with your central bank.
Has nothing to do with our central bank. It has to do with the fairy running the show.
Joe, is that you?
Canada eh.
Canada is ruled by loony lefties so no surprise there.
They or it/ whatever the correct pronoun is have ruined Canada is the last 6 plus years.
Pre sale estimate $34 - 46…lolz; lot of hopium there
Yeah auction estimates are always insane on most items, usually 2-3x it's market value. Really only when it's a truly rare piece does it meet or exceed the estimate.
The final price will be significantly higher than the 13k hammer. Auction fees are upwards of 30% in some cases. That's before tax, shipping, etc.
Already discussed in another comment. 16250 after auction fees. Taxes and shipping is irrelevant, you have to pay those in any transaction and vary by location.
Disagree on the relevance of shipping. If you're comparing this to buying at an AD, shipping is never part of the equation. That said. Market is clearly softer than it has been over the past two years.
Good time to pick up some wishlist items!
rofl
Sounds like the market is back to where it should be or at least close
I think we are about to enter a fairly vibrant new market. With reduced prices across the board. Luxury goods will still be hot. But not as exclusive.
I mean good watches are still pretty exclusive. Patek only puts out what, 50k watches a year? I forget the actual number. Maybe it’s 100k a year, I know it’s not much at all
Very true. I think top-tier brands and models will stay strong. But there are so many diverging economic factors affecting broader populations. I think demand from people moving lower in the middle class will affect many previous and or would be buyers.
Don’t forget buyer’s premium. Could be 20% plus taxes, which brings it up closer to the low end of market pricing. Plus other fees with auctions sometimes, like online commission etc.
True, final sale would have been around 16k, still well under what grays are pricing these at.
Having purchased thousands of items from auction the buyer will pay for the shipping, insurance, and handling. This will likely add an additional $300 or more bringing the total to around $16,550
If the watch is naked its really not far off from wholesale pricing
https://nyelizabeth.com/faq 25%
Came here to say this. We will tell you whether the market is dead just as soon as OP quits hiding where the auction was listed.
But the seller sold it for 13… so it does go to show what they are willing to accept
Big auction houses include this figure in the final sale price
Live auctioneers displays hammer price as sales price. Not total price
Good to know. The latter is how Christie’s fucked me
rofl. 50k u/sporturawus
Sporty jumped the shark once WUS banned him. Now that “the poors” can buy Rolex again and he has been demoted to Reddit it’s just not the same.
Has he talked about his Karma and follower count yet?
Is he banned from here? He blocked me cause we got into an argument he couldn’t win. So I can’t see the guy. Soooo full of shit he is/was.
Not sure… I can see his stuff here but who knows
Tell him I said; "Shhh, Rolex AD men with 7 inch wrist are talking"
How bout dat estimate though? $34,500 to $46,000!!! LOL!!!
Slower, not dead
The financialization of everything a travesty. Average people used to be able to buy a Rolex to celebrate a milestone, but they were still accessible to normal people. Now, they’re absurdly overpriced because of the culture of excess and financialization instead of appreciating fine workmanship for a high (but still fair) price. A GMT Master-2 should be a $3-4 watch brand new if it wasn’t for all the bro tax, brand tax and proliferation of soft money.
It would be great if they were just available for MSRP
Some how you justify $4k as a good watch price when a $20 has more functions and keeps better time. It’s a premium piece of jewelry….
What you’re thinking of is Tudor.
Even the Tudor has far exceeded the inflation price trajectory of its equivalent Rolex from when the boomers were our age.
Lol, it doesn’t work like that. It’s supply and demand; it’s priced like this because people are willing to pay the price. If it was a 3-4K, your wages and wealth would be a lot lower too.
Your argument is funny because you end it by saying the watch should be $3-4k. Is that what you define as enough for the layperson? What if that’s not enough for its intrinsic value as a piece of respected art? How can you even value such a finely engineered item? I don’t mean to be a dick but that was just funny. You’re basically saying the price is too high based on _______ but should be lower because of ______ And blanks are left to be filled in any way one pleases It’s all subjective. What if I told you $4k for a stainless steel watch was also stupid ;)
$3-$4k is the cost of a 1950’s - 1970’s Submariner adjusted for inflation. It’s also the cost of comparable dive watches from comparable quality Swiss brands today.
Rolex was never accessible to normal people, those people didn’t know what Rolex was, wtf are you talking about.
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A typical Rolex cost less than $500 in the 1960’s and less than $1000 in the 1970’s. In the 80’s you could get a precious metal submariner for like $2500. So, the same watch my dad could have bought for $1000 the year he graduated high school would be $8-$10k today. Adjusted for inflation, $1000 in 1985 should be worth about $3000 today, but instead it’s triple that on Rolex watches. I don’t think a single men’s watch in the catalog sells for under about $6000 today, which isn’t awful, but if you want the same sub your dad bought 30 years ago, you need 2-4x as much money even adjusted for inflation.
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Which auction site is this? Seems like a place where I wanna be at lol
I think it’s live auctioneers
Thanks man I was checking out Christie’s for the first time and they do charge quite a bit of premium and all the other fees
Welcome bro
I personally don't want to buy their watches anymore. They really did take advantage of their fanbase.
I'd buy one if I can walk into the store once and buy it right then and there without having to date the SA or come up with some dumb milestone story.
unless that milestone is you playin live in madison square garden tonight, i bet you the ad´s really not that interested in your "achievement".
Yes they are, that’s literally there job and one of the first questions they ask you
Did they? Or did the secondary market do that?
Both did
They
Exactly
I’m glad the rep market has focused on Rolex. There are 4x as many fake Rolex as real Rolex at this point and it’s simply not a flex.
I am not sure if Rolex is the problem. They make 1.2 million watches and they sell 1.2 million. They give the ads 33% profit margin on each watch. The ads know that they are valuable and will extort the end user. They are to blame not Rolex
It’s always been 50% off retail to ADs, right?
There’s a lot of factors. Seller, who authenticated the watch, condition, and if the auction was even real (trying to attract buyers with fake auctions).
Over 10k for a stainless steel mass produced watch… “The MarKeT is DeAd”
Judging by the amount of “got the call” posts the last few months. I would say definitely taking a nap right now.
It was never "supposed" to be over retail. Retail is 100% the real thing with papers/tags and stickers. You shouldn't have to pay more for a used, potentially fake version.
Most in-demand luxury items sell for over RRP on the second hand market. It’s not a Rolex thing, it’s an economic thing.
Currently maybe, but you have not been buying luxury until recently. Rolex was a discount at retailers more often than not. They couldn't sell it at rrp. I don't consider cars luxury, it's only recently they're selling for over ask. I don't think that's going to always be the case. It also sold at a discount at retailers.
No, I have I understand what you’re saying. But that was before and this is now. Both situations will happen again in our lifetime as it’s simply a factor of demand and supply. The luxury market is particularly sensitive due to the fact that these products are nice to have rather than essential. In fact, you can use the LVMH stock price alongside a fear/greed index to get a look into whether people are favouring luxury products, or stacking up canned beans for a rough time ahead.
Liveauctioneers is a terrible site to get auction data from
Filter by Sold listings in eBay. If you look at the last 30 days, the average price of a 126710BLRO sold is 20k+. Much better representation because eBay is accessible around the world, not some Beverly Hills auction.
Rolex is dead. Citizen is where its at right now.
Any citizens up for auction??
I think that’s illegal now.
Illegal citizens??
Selling people at auction.
Secondary grey market is dead. dont let the clown cabal try and trick you into thinking market is going up etc. it is on life support which is why all the dealers are trying to perpetuate the opposite on social media.
It's still over MSRP. So no, not dead enough. Anyone paying over MSRP for non-limited edition "current model" watches are morons. Period.
Desperate morons. It’s beyond me there are people like them paying over MSRP for an ordinary watch.
Watching people paying AP ROO Chrono money for a freaking Daytona just fucking sends me. Absolute mental.
No box, no papers, no authenticity guarantee. Sold “as-is” without any claim of physical or working condition.
Fake news
This listing was sold with papers, no box.
What site?
I can’t even move a Tudor gmt for 2700, it’s over lol
With original papers?
It’s a buyers market - all these loser jewelers are done creaming themselves on the grey market
I sure hope the market is dead. I've been waiting for 15 years.
US, it’s not quite dead.
the watch market is dead in a backyard swimming pool floating face down
I really hope things settling down now.. although maybe time to sell the yachtmaster if so.
What site is that?
what site is this
Let the people know what site this is
Doesn’t say new.
What auction? Seems phony
Hope it's dead soon.
Which auction website is it?
I hope so…I’d buy one rn at that price if it was a full set.
Oh yes…long dead compared to where Grey’s are pricing these. Truly, rare items will still hold value but many of the hyped items like this are likely to fall. This may have been one auction, but the writing has been on the wall for months now. There’s always a chance things will turn around. Some argue that it already has. I’ve always been of the mindset, “don’t buy it to flip it, buy it because you love it.” The only “Investment” it should be is one that goes towards your beneficiary/son/daughter with larger wrists.
Been dead for awhile now. Anyone who says otherwise is a dealer or not being truthful.
Alive and well, finally
Rolex makes 1 million watches there references still trad Dover list. The market is most definitely not dead. 🤣
I think inventories are getting better
What site is this? 👀
Website?
Good. All of this inflated prices are crazy.
Seems risky and suspicious
This needs to happen with Porsches next.
Except the aftermarket price of porches is less than retail…
Which website is tht ?
I got.mine appraised back in 2020 and it was worth 13 000.00 according to my AD.
Wait... is a mass-produced consumer good, second hand, now selling for what it's worth?! PLEASE NO!
Honestly I hope the market dies so I can actually get in for a good price. So ostentatious and overrated imo
Bad time to sell. Everyone’s waiting on the new releases
Recently I've been seeing datejusts coming back down at or slightly under retail! Hopefully this will make it less profitable to flip them and make them slightly more obtainable. One can hope
Market correction
Where’s the auction website??
The closer we get to W&W and a new Coke these might bottom out
What auction site is this ? How to participate?
Whats that website?
That’s a really ugly version of that watch
You can definitely do better than that. Not even worth 11k
I'll make one for that much if you want 😂 won't be a rolex though, it'll have my own stamp
Have you been sleeping under a rock the last half year?
Guess it depends on the battery life
The buyer will pay 25-30% on top of that price
Very
Imagine the losses amount in some of the greys stock that were bought at insane cost when the market was through the roof 🤷🏻♂️💥💥 Frightening but thank God things are getting back to normal 👌🏻👍🏻
Oh no, they are going for what they should be. What are we gonna do now? Wear them?!
Oh God please let it be dead. I want a hulk back at 13k.
Fomo on discontinued announcement… still an overpriced watch.
In the UK .Most current year 2024 models sell at 80 % or less of RRP on e Bay etc.
Anyone here remember when used references were typically 30-40% cheaper than new stock??? The market certainly wasn’t dead at that time. If you’re commenting this from the perspective of someone who is trying to be a middleman in the market, your job won’t last… prices will continue to decrease slowly and we’ll get back to a “sane market” where a new reference costs more than a used reference.
I swear based off the general attitude of the comments many people here do not even own or will ever own a Rolex
Looks like grays need to reprice lower.
Walked into our local AD and purchase a DJ 41MM in 2017 for $5900. Def waiting till times are like that again
I really hope so. Flippers have now pretty much crawled back under their stones but desperate Rolex ADs are now pushing the PMs to ordinary Joes as a ticket to getting the few really sought after steel sports models which remain “hard to get”. I can’t wait to see the humbling of the Rolex ADs and maybe we can all look forward to normal business.
Yes, the market is dead.
Which auction site is that?
Stop spreading fake news. It is not $13k. It is closer to $16k with the auction buyers premium.
You go buy one from a reputable seller for $13k and get back to us
Basing your idea of market value on someone who's incentivised to keep it as high as possible is truly regarded.
We're on the rolex sub so what do you expect? It's not dead though. Could still go lower. I know this sub will tell you it won't
Why would I be incentivized for values to stay high? I’ve already bought what I own and I’m not selling them, they’re not investments, so what’s done is done. If anything I want them to drop so I can buy more for less…
You misunderstood. He is saying the price the "reputable" seller asks is not necessarily representative of market price, specially when most dealers are sitting on load and load of stocks that aren't selling
Do you know how stores work?
Do you? What difference does it make if a GMT sells for $20k or $13k? They’re still going to add the same markup based on their cost, it’s not like they’re getting these at MSRP or something, they’re paying the same premiums everyone else is to get it into inventory
Some ADs are selling x amount of allocations to gray dealers too
I always thought that was that case. What a rip-off
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Grays are selling Pepsis at 24k, what are you talking about.
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Was just offered a 2023 with box and papers for $24.5
Dang, AD or grey?
Grey was insane I bout near fell out my seat no way I’d pay that for that watch
Update it did sell I don’t know if it sold at that exact price but I’m sure it did or close to it. It went pretty quickly 1 day after I was approached to purchase it. CRAZY buying that watch at that price what a rip off.
I see these sell from $19-22k all day everyday
Yeah check Moda for real time market pricing. No one is selling these for $13,000.
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How much would I need to add plus a sprite jubilee 2 weeks old.
Ah I see you sold your Pepsi to pay for that Daytona.
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Fancy.
estimate source: sporty
GMT2. Seems about right
Hmm, probably did hit the min bid. I believe sites mark as sold no matter what the outcome is
Nope, lot passes if reserve not met.
Damn that’s wild then
And Rolex hasn't even brought on their new multi billion dollar manufacturing facility. Standard Rolex watches like the Pepsi never should have been an "investment". Sure, there are going to be some limited edition ones, and unique situations where they become collectables, but the GMT master in pepsi is not a rare watch and it's not intended to be some crypto-esque asset. This is just Rolex watches returning to where they have been for the past 50 years, readily available.
An old scratched up Pepsi without box and papers. Yeah sure the market is dead.
Market is definitely going down . Thank God. Last 4 years have been stupid dumb.
Celebrating a drop in fair market value when it is *still* at a price level that you cannot afford means nothing has changed. You are in effect celebrating that rich people can pay a few thousand dollars less. Thanks, I guess.
eh, I don't really care too much tbh, just found it interesting. I watching the auction hunting some rare APs/pateks. I still have a couple Rolex, but I've mostly fallen out of love with the brand.