Is the watch Market imploding? | FerrariChat

Is the watch Market imploding?

Discussion in 'Fine Watches, Jewelry, & Clothes' started by Bradwilliams, Jun 28, 2022.

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  1. Bradwilliams

    Bradwilliams F1 Veteran
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    #1 Bradwilliams, Jun 28, 2022
    Last edited: Jun 28, 2022
    From everything I can gather it looks like it is and there is no end in sight. (It apparently began in March) Rolexes seem to be holding somewhat steady but are declining and will crater eventually.

    I just bought at auction a rare vintage all gold Cartier that I've had my eye on for over a decade. They were 5-6k all day long and speculators have driven the prices up on them to absurd highs. Just a few months ago and even at this very moment I see speculators asking 14-20 grand for them. I got this thing at auction for less than half that amount (the lower of 14k) with buyer premium. That means that the market on these watches has dropped about 60 percent in just a matter of months. OUCH!!!!

    I also looked at some auction sales on all gold Pantheres for example and it's the same story. The higher interest rates go the worse it is going to get.

    All of the crypto crowd who don't work for a living are going to unload when they can't pay their bills. Pretty sure that's been the main demographic of people paying outrageous prices for jewelry. Unbelievable that we just went through an era where people would speculate on literally ANYTHING including a watch. I have had a handful of friends tell me to my face that Rolexes don't depreciate from new. LOL
     
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  2. bart12

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    #2 bart12, Jun 29, 2022
    Buy the dip. For those people who have been waiting for their Daytonas and GMT, this may be your chance.
     
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  3. Bradwilliams

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    #3 Bradwilliams, Jun 29, 2022
    I recommended a Daytona to somebody a few summers ago when they were 11 grand and now theyre 20? They'll be 11 again shortly lol. And a gmt are you kidding me? Those watches are a dime a dozen and are going to drop like a stone.
     
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  4. mikesufka

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    #4 mikesufka, Jun 29, 2022
    They haven't called me yet - LOL

    MDS
     
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  5. MWHC4S

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    #5 MWHC4S, Jun 29, 2022
    I'm anticipating a call too MIke. It will be interesting to see what unfolds for us in MN
     
  6. QtrItalian

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    #6 QtrItalian, Jun 29, 2022
    I've heard this too (2 months ago) from a non-AD dealer. Dealers' prices may not have all come down yet but those who don't lower their prices will be hanging onto inventory for awhile....
     
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  7. spirot

    spirot F1 World Champ

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    #7 spirot, Jun 30, 2022
    Looking forward to it - more watches for me! My daily watch is a 2007 White face SS daytona... love the watch, and want a black face new version but not for $30K... at $15 ok.
     
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  8. Robb

    Robb Moderator
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    #8 Robb, Jun 30, 2022
    I am waiting on a Rolex with two different auth dealers. I’ll wait to get exactly what I want at a normal price.

    Robb
     
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  9. Shorn355

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    #9 Shorn355, Jun 30, 2022
    Rolex ADs can't adjust the prices of a new Rolex - up or down - they must sell at MSRP they lose their Rolex AD license.
     
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  10. Shorn355

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    #10 Shorn355, Jun 30, 2022
    You will pay MSRP - no more / no less - does not matter what the non-AD (AKA "grey" market) is doing - Rolex ADs must sell at MSRP - they can't discount and they can't mark up. Hence it being advantageous to wait if you can and buy from an AD. If you can't wait or don't have a relationship with an AD then you will pay more in the non-AD market but there are many VERY legit sources - several on here.

    Cheers:cool:
     
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  11. Shorn355

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    #11 Shorn355, Jun 30, 2022
    Depends on the GMT II - Batmans, Root Beers and Pepsis are still off the scale and will continue to be

    Cheers :cool:
     
  12. mchas

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    #12 mchas, Jul 1, 2022
    Am I missing something? I still see Daytonas listed for $40k.
     
  13. Bradwilliams

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    #13 Bradwilliams, Jul 1, 2022
    I was referring to older ones. In regards to if a gmt is "a certain rare color" you are wrong and they will fall just like the rest.

    Cheers.
     
  14. bart12

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    #14 bart12, Jul 1, 2022
    You can see at chrono Panda $30s. You have to be quick though.
    But it will go down still. Too many daytonas on chrono, who is going to buy all of them even for $30k.
     
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  15. Bradwilliams

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    #15 Bradwilliams, Jul 1, 2022
    There is one other watch that I'm after but I'm in no rush to buy it and I know for certain I'll get it at a hefty discount (30-50 percent off) within 6-12 months. And 1-2 others that I may take a swing at if they get cheap enough.
     
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  16. buddyg

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    #16 buddyg, Jul 1, 2022
    What kind of auction? Are there watch specific ones?
     
  17. bart12

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    #17 bart12, Jul 1, 2022
    You can now get most watches in atleast 25% discount compared to 2-3 months ago, thats in the grey. Tempting but still about $18-28k above retail on some. Still cant make myself pull the trigger.
    It has worked for me just waiting for my AD, especially right now i am getting more positive answers about when I can get a specific watch.
    Soon they will offer us 2-3 watches in the same model just like before.
    If only i can go back to 3-4 watches like before but i am hooked beyond salvation.
     
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  18. ArtS

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    #18 ArtS, Jul 1, 2022
    Just like every other bubble... sorry to say.
     
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  19. piratepress

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    #19 piratepress, Jul 1, 2022
    Needless to say, I'll be following this with great interest!
     
  20. Shorn355

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    #20 Shorn355, Jul 1, 2022
    It will be nice to walk into my Rolex AD- or any Rolex AD for that matter- and actually see some watches in the cases. The last time I stopped by- and my AD is the largest Rolex dealer in Colorado- not ONE new watch of any style available- I jokingly asked if they had been robbed :)

    The Rolex supply/demand imbalance allowed the grey market to flourish and values to skyrocket but is actually bad for the brand IMHO- It is silly that someone with the funds can't walk in and buy a new steel black dial Sub from an AD and instead either has to be on a list or pay 2x+ on the grey market.

    I was on a list back in mid 2000s for my white dial stainless Daytona- that was normal and will probably always be that way- but if I wasn't dead set on that and would have been ok with a two-tone Daytona there were some in the case- Same with my Batman- I knew I would have to wait but if I would have been ok with a normal black dial/bezel GMT II or two-tone there were some in the case.

    Will be good to get back to that.

    Cheers :cool:
     
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  21. bart12

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    #21 bart12, Jul 2, 2022
    Pepsi GMT in jubilee for $20k bnew. Almost $12k down in 3 months and its still going down.

    Wait for 6 more months and you can get this for retail just in time for Xmas.

    Merry Xmas everybody!
     
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  22. JJ

    JJ F1 World Champ

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    #22 JJ, Jul 2, 2022
    I got my GMT in 2009 at a steep discount from an AD. Would love to see that again.
     
  23. Bullfighter

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    #23 Bullfighter, Jul 3, 2022
    Same here. The secondary market on steel Rolexes has been ludicrous. I can wait for normal retail.


    Sent from my iPad using FerrariChat.com mobile app
     
  24. Bullfighter

    Bullfighter Two Time F1 World Champ
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    #24 Bullfighter, Jul 3, 2022
    Our local AD has no Rolex in stock. Just nice green velvet trays under armed guard.


    Sent from my iPad using FerrariChat.com mobile app
     
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  25. Island Time

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    #25 Island Time, Jul 3, 2022
    I’ve wanted a Rolex 6234 for years.

    Two years ago 40k or so. Over the course of the next couple of years…They continually crept higher and higher. The most expensive one I sourced was 98k. They all went up accordingly.

    In just the last few months I’ve noticed one heck of a drop.

    I think I can buy a good one again for around 40k.

    (And if I wait, maybe cheaper. Who knows…)
     
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