Prices slump by up to 50% for discontinued Rolex watches (Watchpro)

[Mini2]

Originally Posted by Incroyable12

Oil is down and construction commodities are down because of a slowdown in Chinese construction due to the real estate clampdown there.

evergrande

[Polar Bear]

As someone who only buys 1 piece a year (in the 5k to 10k range, Seikos dont count) my watch fund has taken a real beating these last few months
Interest rates here have risen 1.25% in 3 months, equaling an increase in my mortgage payment of around $250/month
Now, i'm financially secure enough for that to not really have me out on the street, but the $250/month had to come from somewhere and so my watch fund has taken a hit

There's no end in sight here, so even if someone offered me an Ex2 at retail, i couldnt justify picking it up when i'm staring down the barrel of a possible $1000/month increase in my outgoings

[JWillard]

Originally Posted by Polar Bear

As someone who only buys 1 piece a year (in the 5k to 10k range, Seikos dont count) my watch fund has taken a real beating these last few months
Interest rates here have risen 1.25% in 3 months, equaling an increase in my mortgage payment of around $250/month
Now, i'm financially secure enough for that to not really have me out on the street, but the $250/month had to come from somewhere and so my watch fund has taken a hit

There's no end in sight here, so even if someone offered me an Ex2 at retail, i couldnt justify picking it up when i'm staring down the barrel of a possible $1000/month increase in my outgoings

No fix rate in AUS for mortgage

[GB-man]

Originally Posted by JWillard

No fix rate in AUS for mortgage

That seems almost criminal.

[JWillard]

Originally Posted by GB-man

That seems almost criminal.

I was asking if they do have fix rate, sorry for my poorly question structure, but anyhow i am not sure why anyone would take an adjustable rate

[amh]

Originally Posted by JWillard

No fix rate in AUS for mortgage

Wow, didn't even know that was a thing.
https://www.abc.net.au/news/2022-02-...rate/100802860

Originally Posted by JWillard

I was asking if they do have fix rate, sorry for my poorly question structure, but anyhow i am not sure why anyone would take an adjustable rate

Only if forced to!

[brandrea]

Originally Posted by JWillard

I was asking if they do have fix rate, sorry for my poorly question structure, but anyhow i am not sure why anyone would take an adjustable rate

In our country over the long term, an adjustable rate mortgage is mostly always cheaper.

https://www.cmls.ca/brokers/download...qBWMhyhO--UdEo

[steve099]

Originally Posted by GB-man

That seems almost criminal.

Criminal is how house prices here have been allowed to run wild on the cheap credit.

I am in a small unpopular camp that is glad rates are going up, they should have gone up higher and much sooner to reel in what is now significant inflation along with all the side effects it has attached to it.

[mountainjogger]

Trying to put the focus on Moda into perspective.

Am I correct that Moda requires payment of a fee to join?

And am I correct that Moda is primarily used by dealers buying to resell. In other words, wholesale?

[GB-man]

Originally Posted by steve099

Criminal is how house prices here have been allowed to run wild on the cheap credit.

I am in a small unpopular camp that is glad rates are going up, they should have gone up higher and much sooner to reel in what is now significant inflation along with all the side effects it has attached to it.

You won’t hear me argue any of that. Been saying it for years. They forced the public into risk on assets. It was the genesis of the housing bubble in 08 and created the correct mantra “don’t fight the fed” thereafter. The primary justification for equities was where else are you going to invest for the last decade.

[Bmats]

Originally Posted by steve099

Criminal is how house prices here have been allowed to run wild on the cheap credit.

I am in a small unpopular camp that is glad rates are going up, they should have gone up higher and much sooner to reel in what is now significant inflation along with all the side effects it has attached to it.

Agree. Hindsight it 20-20 but it seemed pretty clear awhile ago a lot of the things going on weren’t substainable. And acting sooner on the rates would have led to a softer fall. But seems inevitable now we’re in for some recession and it’s just a question of how long and how painful. At that point watches become secondary for people like me, as I’ll probably do more window (or browser) shopping than actual.

[goldboy]

Originally Posted by steve099

Criminal is how house prices here have been allowed to run wild on the cheap credit.

I am in a small unpopular camp that is glad rates are going up, they should have gone up higher and much sooner to reel in what is now significant inflation along with all the side effects it has attached to it.

Rates will drop and the fed will start to print more money than they ever had, they have no choice. It’s either print into inflation or hike into depression, looking back at history they always choose to print.

[Polar Bear]

Originally Posted by JWillard

No fix rate in AUS for mortgage

Originally Posted by mountainjogger

Well that bites. Any way to get a fixed rate so you have piece of mind?

Originally Posted by GB-man

That seems almost criminal.

Originally Posted by JWillard

I was asking if they do have fix rate, sorry for my poorly question structure, but anyhow i am not sure why anyone would take an adjustable rate

As someone has already posted, fixed rate mortgages in Aus are only offered on 3-5 year terms (typically at a higher interest rate than the variable option)
Banks are also wary of allowing you to fix your Mortgage Rate if your Loan to Value Ratio (LVR) is above 80%

Interest Rates have been below 2% here (from most of the major lenders) for a little over 3 years, so I really should have fixed my rate back in 2020, but it would have come with a (roughly) 1.2% premium over the variable rate at the time (roughly 2% variable vs 3.2% fixed)
Dollar for Dollar, I was better off riding the low variable rate for as long as i did

What sucks now is as rates are starting to rise, with no one knowing how high they will go, banks are setting their 5 year fixed rates at 2%-3% higher than the current variable rate so they can try to stay ahead of the rate rises over the next few years. You also need your LVR to be below 80% if you decide to go with this option, which is hard for a lot of people because property values decrease as the interest rate rises, so people who could have fixed their rates a year ago may not be able to now even if they want to pay the premium

It a bit of a sh!t show, really, but i'm luckier than most, it just means i might have to wait 18 months between 5 figure watch purchases rather than 12
A few of my mates are running reasonably close to the wire, if the rates jump another 1%, they're in trouble

[mountainjogger]

Originally Posted by Polar Bear

As someone who only buys 1 piece a year (in the 5k to 10k range, Seikos dont count) my watch fund has taken a real beating these last few months
Interest rates here have risen 1.25% in 3 months, equaling an increase in my mortgage payment of around $250/month
Now, i'm financially secure enough for that to not really have me out on the street, but the $250/month had to come from somewhere and so my watch fund has taken a hit

There's no end in sight here, so even if someone offered me an Ex2 at retail, i couldnt justify picking it up when i'm staring down the barrel of a possible $1000/month increase in my outgoings

Well that bites. Any way to get a fixed rate so you have piece of mind?

[pursang_]

Moda check:

10/20 126610LN sold at auction for 12.7k

5/21 Panda sold for about 32.5k.

Panda w/ papers listed 10 hours ago for 32k. Still available

7/22 RG Olive DD40 sitting at 59k

7/22 Leftie GMT sitting at 33k (not a shocker)

6/22 Starbucks/Cermit sitting at 16.5k

07/22 BLNR Jubilee sold for 18.5k

Naked BLNR Jubilee sitting at 16.2k

Naked Pepsi sitting at 17.9k

06/22 Regular green OP41 sitting at 12.5k

05/2020 John Mayer Daytona listed an hour ago for 79k. Presently an auction is active for this reference with a current bid of 76k

G-serial black 116520 sold for ~21k

[Vince_76]

Originally Posted by pursang_

Moda check:

10/20 126610LN sold at auction for 12.7k

5/21 Panda sold for about 32.5k.

Panda w/ papers listed 10 hours ago for 32k. Still available

7/22 RG Olive DD40 sitting at 59k

7/22 Leftie GMT sitting at 33k (not a shocker)

6/22 Starbucks/Cermit sitting at 16.5k

07/22 BLNR Jubilee sold for 18.5k

Naked BLNR Jubilee sitting at 16.2k

Naked Pepsi sitting at 17.9k

06/22 Regular green OP41 sitting at 12.5k

05/2020 John Mayer Daytona listed an hour ago for 79k. Presently an auction is active for this reference with a current bid of 76k

G-serial black 116520 sold for ~21k

Thanks for this.

Not to mention the RG Olive DD40 sitting at 54k (full set).

Like I said, someone please give me a defensible argument as to why we’re near the bottom…

[HelloMelo]

Originally Posted by pursang_

Moda check:

10/20 126610LN sold at auction for 12.7k

5/21 Panda sold for about 32.5k.

Panda w/ papers listed 10 hours ago for 32k. Still available

7/22 RG Olive DD40 sitting at 59k

7/22 Leftie GMT sitting at 33k (not a shocker)

6/22 Starbucks/Cermit sitting at 16.5k

07/22 BLNR Jubilee sold for 18.5k

Naked BLNR Jubilee sitting at 16.2k

Naked Pepsi sitting at 17.9k

06/22 Regular green OP41 sitting at 12.5k

05/2020 John Mayer Daytona listed an hour ago for 79k. Presently an auction is active for this reference with a current bid of 76k

G-serial black 116520 sold for ~21k

Thanks for this! Hulks seem to be in a big spiral down as well.

[Porkbelli]

Originally Posted by pursang_

Moda check:

10/20 126610LN sold at auction for 12.7k

5/21 Panda sold for about 32.5k.

Panda w/ papers listed 10 hours ago for 32k. Still available

7/22 RG Olive DD40 sitting at 59k

7/22 Leftie GMT sitting at 33k (not a shocker)

6/22 Starbucks/Cermit sitting at 16.5k

07/22 BLNR Jubilee sold for 18.5k

Naked BLNR Jubilee sitting at 16.2k

Naked Pepsi sitting at 17.9k

06/22 Regular green OP41 sitting at 12.5k

05/2020 John Mayer Daytona listed an hour ago for 79k. Presently an auction is active for this reference with a current bid of 76k

G-serial black 116520 sold for ~21k

Thanks for the check. I hope you can do this every few days.

[enjoythemusic]

Originally Posted by pursang_

Moda check....

If I may humbly ask, please be sure to post if these are NIB, sliders, just watch and card, or just the watch. Many thanks so as you update pricing, condition/etc is also outlined.

Thanks

[eijiboy]

Originally Posted by pursang_

Moda check:

10/20 126610LN sold at auction for 12.7k

5/21 Panda sold for about 32.5k.

Panda w/ papers listed 10 hours ago for 32k. Still available

7/22 RG Olive DD40 sitting at 59k

7/22 Leftie GMT sitting at 33k (not a shocker)

6/22 Starbucks/Cermit sitting at 16.5k

07/22 BLNR Jubilee sold for 18.5k

Naked BLNR Jubilee sitting at 16.2k

Naked Pepsi sitting at 17.9k

06/22 Regular green OP41 sitting at 12.5k

05/2020 John Mayer Daytona listed an hour ago for 79k. Presently an auction is active for this reference with a current bid of 76k

G-serial black 116520 sold for ~21k

Add NIB sd43 with sticker no box and card for 12850. Below MSRP now. Cheaper than AD.

[904VT]

It should be obvious now that it was the exiting crypto money. Now hopefully we can walk in and purchase a GMT Master like we always should’ve been able to do.

[amh]

Originally Posted by 904VT

It should be obvious now that it was the exiting crypto money. Now hopefully we can walk in and purchase a GMT Master like we always should’ve been able to do.

Mwhaahhaaa!

I'm settling in for a multi-year wait before I get 'the call' But I have learned some lessons: No more jewelry, no more Omega.

[JRedford]

What is a slider?

[PBJ1925]

Originally Posted by JRedford

What is a slider?

Unfortunately a term widely used by sellers to describe a like new but not new watch. Very subjective, caveat emptor.


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[JRedford]

Originally Posted by PBJ1925

Unfortunately a term widely used by sellers to describe a like new but not new watch. Very subjective, caveat emptor.


Sent from my iPhone using Tapatalk

Ok thank you.

[garyk]

Where I’m from, a slider comes from White Castle!!

[TheVTCGuy]

Originally Posted by garyk

Where I’m from, a slider comes from White Castle!!

Brought back memories of my meals on USS Saratoga during Desert Storm…

[garyk]

Originally Posted by TheVTCGuy

Brought back memories of my meals on USS Saratoga during Desert Storm…

That’s cool. I’ve eaten in mess halls but never any sliders. That would have been a treat.

[dmash]

Originally Posted by garyk

Where I’m from, a slider comes from White Castle!!

Hahahahahha I was thinking the same thing, White Castle/Krystal. Slider is definitely a new term, been around watches for going on 15 years and never heard it!

[garyk]

He said Panda lol…




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