Quote:
Originally Posted by OTX
It was a SBGE215. I expected a loss but not 50% and that was a private sale!. What’s worse is the highest gray dealer offer was 60 percent off what I paid. What made it hurt more is that it was only a few months old with most of the warranty remaining and was in new shape!.
Rolex historically has held their resale value pretty well and I’m sure Rolex will do everything they can to maintain that as it’s a very important part of the brands prestige. Usually, if one buys a non Rolex preowned, then you’ll probably break even as someone else took the initial hit. The GS was an impulse buy for me. I learned a very valuable lesson though. Only buy Rolex new…everything else pre owned.
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Honestly you are lucky that you actually sold the Grand Seiko
Grand Seiko has absolutely plummeted in value and desirability over the last few months.
I was under the weather the other day and and spent some time submitting some watches for sale on some well known preowned dealers sites to see what they are "buying". Grand Seiko is either a HARD PASS or TRADE ONLY. You cannot get a dealer to give you CASH for one. They will not take one in inventory for CASH.
I think except for a few top models, the dealers are 100% out of the GS business.
Rolex, while softening a bit on secondary market, this means that you may get paid less than retail for some models, but they more than likely will generate a cash offer. Other brands? Nah. Back to nobody wanting them again..
