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12 January 2023, 02:54 PM | #1 |
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So anyone who bought Rolex Sport from Grey Market 1 years ago lost atleast 20% money?
Do you guys regret it ?
How long this down trend will be ? |
12 January 2023, 02:56 PM | #2 |
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The plus 20% was a trend. The current times are a return to normalcy.
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♛ 116689 ♛ 116500LN Blk ♛ 116500LN Wht ♛ Sky Dweller 326934-003 ♛ 126710BLNR ♛ 126710BLRO - ♛ 126610LV ♛ 16520 ♛ 16523 ♛ 16610 ♛ 5513 Birth Year - ✠ Patek Philippe 5980/1A-001 - AP 26331ST Panda - Panerai Fiddy 127, Bronzo 671, 687, 111, Ω Speedmaster 1957 Broad Arrow, Daniel Roth Endurer Chronosprint, Cartier Santos XL - ✿ Tudor Black Bay 58 Bronze M79012M, Montblanc TimeWalker Chrono 41 |
12 January 2023, 02:58 PM | #3 |
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The quality remains, while the price is quickly forgotten.
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12 January 2023, 02:59 PM | #4 |
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12 January 2023, 04:16 PM | #5 |
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I brought a skydweller on Oysterflex at retail from an AD, and I lost about 20% as they are trading 20% below retail nowadays.
Life goes on, and at least I was offered a Daytona also on Oysterflex at retail - so net, I breakeven. |
12 January 2023, 04:34 PM | #6 |
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Point of your post is?
Almost all of my watches were bought at MRSP, only use grey for discontinued pieces or brands I don’t have relationships with; which is equally as fun and I am glad they are there to fill the holes. But I don’t care what happens after I buy a piece. Don’t give a crap what Chrono24 says. I wear all of my watches and love them. If your watch is a huge part of your net worth, sell it now, buy an i-bond with the proceeds, and consider upgrading or changing your line of work. I would never have even considered buying my first luxury watch if I cared what the after market thought of it. |
12 January 2023, 04:36 PM | #7 |
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I did. But I was not planning to sell and am not interested in selling either. Life goes on. I have enjoyed the watch and still am.
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12 January 2023, 05:07 PM | #8 |
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12 January 2023, 07:05 PM | #9 | |
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Quote:
Buying a luxury watch should be done in the same manner as buying any other luxury item; the expectation that it loses money & you are paying a premium to enjoy it. If you want to consider them "investments", I will argue that you haven't lost any money until you sell. Any "profit" you had was only on paper. Now, if you did buy as an investment, with the intention of flipping it for profit, you probably want to realize your loss now, because unless you have something super rare, it's going lower. |
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12 January 2023, 07:51 PM | #10 |
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12 January 2023, 09:02 PM | #11 | |
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Quote:
Mistake made, life lesson learned - now move on and enjoy it. If you can’t enjoy it, sell it and move on. |
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12 January 2023, 09:20 PM | #12 |
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Enjoy looking good in the poor house!
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12 January 2023, 09:28 PM | #13 |
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I’m in the market for a sport watch now, more than likely new, although I think the grey market is insanely high, I won’t mind because I’m looking at something for an heirloom piece to pass down to my son in a few years. Maybe I’m reading the market wrong, but it does seem a little flooded with overpriced watches, I’m patient and not in a rush.
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12 January 2023, 09:55 PM | #14 |
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I did not purchase during the increase in market price.
But if I had, I would consider a 20% drop in used list price a good trade for the pleasure of wearing the watch for a year. For those of us who have been in the hobby a while, we remember loosing this much walking out the door after buying at an AD. And in my opinion, if a 20% decrease in the list used price of a luxury item has an affect on a person's finances, they should not be making the purchase to begin with. So, it would not bother me at all.
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13 January 2023, 02:19 AM | #15 |
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Have to say I agree.
For me, any watch purchase is sunk cost. I consider it no more an "investment" than paying for a decent meal out. A watch, like a nice meal, is meant to be enjoyed for what it is IMO.
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13 January 2023, 02:40 AM | #16 |
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Yep. Far better asset classes to invest your money in. Luxury watches are just that - a luxury good
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13 January 2023, 03:03 AM | #17 |
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If this bothers you, I suggest staying away from financial markets where one quickly learns that ups and downs are just a part of the way markets function. Trying to time markets is a losing bet, many studies have shown.
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13 January 2023, 10:53 AM | #18 |
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I have only sold watches the last year, so it's not an issue for me. I did buy a few before at prices we will properly go below in the future, but I am happy to see prices fall as I will properly have more watches in the future.
My children, who will be the ones caching in on them at some point, might be a bit disappointed, though Sendt fra min SM-F711B med Tapatalk |
15 January 2023, 08:17 AM | #19 | |
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Quote:
Prices (economies) have been going up and down since the introduction of money for goods and services. This is just another swing in the never-ending economic cycles.
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15 January 2023, 01:04 PM | #20 |
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If you bought tech stocks, on average you'd be down more than that. Context matters.
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16 January 2023, 02:06 AM | #21 |
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I guess if you purchased a new Sub 126610LN on the gray market about a year ago you would be out around 20% as of now, but if it was a white dial SS Daytona around the same time, you would be out about 40% or more right now -- ouch!! They were going for $50K or slightly higher and now can be had for under $30K and are still falling!
I recall that dog trainer from Chicago that has a watch vlog predicting the Sub (126610LN to hit $25K by year-end 2022 at the time it was around $18 - 19K and we now know the rest of that story... Haven't heard much from him lately. |
16 January 2023, 02:59 AM | #22 |
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Back in the day when you bought a new Rolex, you KNEW and were guaranteed that it was going to be worth less down the road. Exactly like driving a brand new car off the lot. Use it for awhile and if you wanted to sell it, you got what you could for a used watch. Shopping pre-owned would always be able to save yourself some money. (Special collectible pieces excluded). Lots of recent and newer watch "collectors" have only experienced values going up, so this downturn can be a real shocker to them.
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16 January 2023, 03:26 AM | #23 | |
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Quote:
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16 January 2023, 05:08 AM | #24 |
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My entire asset class is going down!!
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16 January 2023, 05:46 AM | #25 |
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Based on the blogs, Tesla purchasers (especially recent ones) feel the same type of burn as well. In these times, it truly is like playing with fire.
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16 January 2023, 06:19 AM | #26 |
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18 January 2023, 04:15 AM | #27 |
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Invest in Crypto - it's safer ...
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18 January 2023, 04:47 AM | #28 |
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You could still lose a ton of money buying grey today. I went in to try a VC overseas dual time and a Patek 5712 over the weekend at a big grey. They had a price of 54k on the VC. I’ve seen those go on moda for $24k bnib. The 5712 they had for 120k or something. Seen them go as low as 70-80k complete over the last couple months. If you bought either of those from the grey and wanted to get out of them you’d take a loss in the 10s of thousands of dollars immediately.
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22 January 2023, 05:19 AM | #29 |
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30 January 2023, 02:36 PM | #30 |
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