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

[rolex_pl85]

I'm member in more than 15+ facebook, whatsapp and forum groups for trading watches. The market is very very slow.

People including my very close watch dealer friends they list a watch, leave it for a week and if no sale they will mark it as sold and relist a few weeks later with new pictures so make it look like its a new piece. Trust me these things are not moving.

Its just going to get worse and worse. Try selling any watch outright cash on the spot to a gray dealer. Many of them wont buy it and if they do offer its going to be a very insulting price.

If you dont believe me then just go ask any dealer yourself. Most are only consignment deals now so they dont have to stump up cash and risk the market going down even more.

[HMHM]

Originally Posted by rolex_pl85

I'm member in more than 15+ facebook, whatsapp and forum groups for trading watches. The market is very very slow.

People including my very close watch dealer friends they list a watch, leave it for a week and if no sale they will mark it as sold and relist a few weeks later with new pictures so make it look like its a new piece. Trust me these things are not moving.

Its just going to get worse and worse. Try selling any watch outright cash on the spot to a gray dealer. Many of them wont buy it and if they do offer its going to be a very insulting price.

If you dont believe me then just go ask any dealer yourself. Most are only consignment deals now so they dont have to stump up cash and risk the market going down even more.

Can’t wait to watch more grey dealers lying about how “amazing” and “strong” and “robust” the current watch market is! Where is The Ultra/Super/Extra Honest watch dealer who sells 18 subs a month?!

[Crown & Shield]

Originally Posted by rolex_pl85

I'm member in more than 15+ facebook, whatsapp and forum groups for trading watches. The market is very very slow.

People including my very close watch dealer friends they list a watch, leave it for a week and if no sale they will mark it as sold and relist a few weeks later with new pictures so make it look like its a new piece. Trust me these things are not moving.

Its just going to get worse and worse. Try selling any watch outright cash on the spot to a gray dealer. Many of them wont buy it and if they do offer its going to be a very insulting price.

If you dont believe me then just go ask any dealer yourself. Most are only consignment deals now so they dont have to stump up cash and risk the market going down even more.

I can easily believe that, that’s what I am hearing as well.

[Mathematoxic]

When the 126500s hit the shelves, the current panda will fall even more. Because everyone will turn their attention to the new model. While many are saying they prefer the current panda, they can’t help but to want the latest release.

[buknoy]

Originally Posted by Mathematoxic

When the 126500s hit the shelves, the current panda will fall even more. Because everyone will turn their attention to the new model. While many are saying they prefer the current panda, they can’t help but to want the latest release.

Yup! Remember whats happening with the sub RN. Old 11 ones are forgotten. Except for the hulk since it has significant change to the new one


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[Jawnz]

2k below what I’ve been seeing as the floor for the VTNR. nature is healing.

[buknoy]

Originally Posted by Jawnz

2k below what I’ve been seeing as the floor for the VTNR. nature is healing.

Thats still a lot



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[Jawnz]

Originally Posted by buknoy

Thats still a lot



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True some Moda listings are coming in around 18k range.


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[Olive Drab]

Originally Posted by Jawnz

2k below what I’ve been seeing as the floor for the VTNR. nature is healing.

hmm

[Jawnz]

Originally Posted by Olive Drab

hmm

No I know the dealer it sold. The 21k listings I dunno if they are real


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[buknoy]

the previous pre owned 24k bLACK SS DAYTONA is now at 23750.

[jfmiii]

Originally Posted by buknoy

the previous pre owned 24k bLACK SS DAYTONA is now at 23750.

Just saw that. With card as well. I’m not sure I’ve seen one (with a card) cheaper since before COVID.

[bay_area_kid]

Originally Posted by jfmiii

Just saw that. With card as well. I’m not sure I’ve seen one (with a card) cheaper since before COVID.

But that one is from 2016 and it's a little bit scratched up. If you want to add a box, that's gonna be $24k.

For only $2k more, you can get a complete set, June 2023, slider 116500LN black dial. There's one right now that's still sitting unsold so you can probably talk them down to $25,750.

[buknoy]

Originally Posted by bay_area_kid

But that one is from 2016 and it's a little bit scratched up. If you want to add a box, that's gonna be $24k.

For only $2k more, you can get a complete set, June 2023, slider 116500LN black dial. There's one right now that's still sitting unsold so you can probably talk them down to $25,750.

Hey i need your opinion with same situation that u mention. Would you buy a panda daytona 2017 good condition full set 28k shipped or 2020 new card mint condition full set for 29.3?


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[bay_area_kid]

Originally Posted by buknoy

Hey i need your opinion with same situation that u mention. Would you buy a panda daytona 2017 good condition full set 28k shipped or 2020 new card mint condition full set for 29.3?


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The option that I'd always first consider is official Rolex warranty. If it's from 2020, then there's still about 2 years left so that's a good thing. The reason why I always look for any existing warranty first is that a lot of deals on Moda are as-is. If you can get one with the Rolex warranty still valid, then that's actually a layer of protection for you in case something goes mechanically wrong with the watch in the next 2 years or so. No Moda seller can match that assurance. This is why a lot of dealers always include potential servicing costs into account when calculating their margins.

Then the next thing I'd consider is the price. For $29.3k, that seems to be a fair price. There's a panda from 2021 with complete set that sold for $28.5k just a couple of days ago. Not sure if that's the new current market rate or if it's just an outlier. But you might be able to talk down the seller to $29k. At the very least, maybe you can ask for the label to be included?

Now, let's take the above considerations and compare them with the 2017 panda. One, it doesn't have a warranty anymore. Two, it's only about $1.3k cheaper. Third, you mention it's only in "good condition" compared with the 2020 panda which is in "mint condition". So then that begs the question, is $1.3k of savings worth the expired warranty and condition downgrade? For me, it doesn't seem worth it.

So I'll take the 2020 panda over the 2017 panda.

Anyways, that's just how I see that deal.

[Mathematoxic]

Originally Posted by buknoy

the previous pre owned 24k bLACK SS DAYTONA is now at 23750.

I’ll buy when they drop to $15k

[jfmiii]

Richemont stock sharply lower after reporting much weaker demand in the US and China

https://www.ft.com/content/f03b27dd-...c-bac6cce58af9

[jfmiii]

Richemont stock sharply lower after reporting much weaker demand in the US and China

https://www.ft.com/content/f03b27dd-...c-bac6cce58af9

[messikens]

Originally Posted by jfmiii

Richemont stock sharply lower after reporting much weaker demand in the US and China

https://www.ft.com/content/f03b27dd-...c-bac6cce58af9

Paywall... Mind posting the content/excerpyt (if it doesn't violate any forum rules)?

[HMHM]

Originally Posted by jfmiii

Richemont stock sharply lower after reporting much weaker demand in the US and China

https://www.ft.com/content/f03b27dd-...c-bac6cce58af9

Come on man! Stop spreading fake news! /s

In all seriousness, every blind and deaf man can see the market is not as red hot as 1.5 years ago. Why do grey dealers keep putting on a show that the market is going to have an upturn shortly is highly laughable. Saw some videos on YT recently that the market has bottomed. Bottomed my

[chows99]

True that but it's quite puzzling that grey dealers numbers have not diminished much. In a local shopping mall with some concentration of grey dealers, the numbers are the same, if not more dealers opening physical shop.

[HMHM]

Originally Posted by chows99

True that but it's quite puzzling that grey dealers numbers have not diminished much. In a local shopping mall with some concentration of grey dealers, the numbers are the same, if not more dealers opening physical shop.

I have a suspicion that they are all part of the same team, just operating under different names to give customers the illusion that there are choices in the same mall. Shop A will sell for X amount, while shop B will sell for X-1% amount but behind the scenes they all get the watch from the same source or they passed the stock from one to the other and charge a mark-up accordingly. Of course there are a number of main dealers out there, but the rest are just like branches of the main dealers, kind of like multi-level marketing (MLM). In fact, watch dealing is starting to look like MLM….

[Mathematoxic]

Originally Posted by chows99

True that but it's quite puzzling that grey dealers numbers have not diminished much. In a local shopping mall with some concentration of grey dealers, the numbers are the same, if not more dealers opening physical shop.

This business of trading luxury watches(grey dealers) will be here to stay. As long as the market price is not stagnant, be it up or down, they can still make some money.

If everyone resist at buying above MSRP, then their price(both buying and selling) will fall. Hope the watch prices will ultimately trend towards +/-10% of MSRP. I feel this will be healthy in the long term.

[steeevvvooo]

This sold recently on MODA for $76k. 2022 model described as "retail ready". List is $111k (plus tax?) I believe.

Cheapest I see in the UK on Chrono24 is almost £104k ($134k!)... which is above UK list!

Really need these type of deals to come to the UK asap as you guys in the US are having all the fun! :)

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[Marinapark]

All the overseas are below retail now with the exception of the Everest models. Very underwhelming watch. As they should be.

[ExplorerI]

Originally Posted by Marinapark

All the overseas are below retail now with the exception of the Everest models. Very underwhelming watch. As they should be.

Yes I liked the black dial dual time in photos but tried it on and just didn’t do it for me. That one is one of the best of the overseas I think. Part of the problem with it is that bezel in the same texture doesn’t look great against the case. I like the one that has the titanium bezel more, just needs more contrast against the steel.

I don’t understand the appeal of the time and date overseas at all. Nothing interesting about them.

[RichardBartlett]

Originally Posted by Marinapark

All the overseas are below retail now with the exception of the Everest models. Very underwhelming watch. As they should be.

The Everest is a grail tbf..

[bay_area_kid]

Looks like the grey market dealers on Youtube are starting to crumble:

• Anthony Farrer (aka. The Timepiece Gentleman) lost more team members recently but now finally admits he's flat broke and unable to pay back debts, including debts to clients that lost their consignment pieces worth $2m when Anthony "misplaced" his backpack in a bar. Rumors suggest he sold the watches and used the money to pay off some of his debts.
• Wolves of Watch Street have recently split up. The remaining two members planned to rebrand to "Alpha Crown". This suggests there isn't enough money in the secondary retail market anymore to support a larger team, so it's every man for himself now. Then suddenly one of the remaining two members leaves as well, citing that he just had to go to Peru and can't explain why. So "Alpha Crown" is now a one-man operation for the foreseeable future.
• Grand Caliber COO quits suddenly and the entire company is going through a "rebranding". Moda activity shows they are now trying to wholesale a lot more of their watches that have been sitting on their website for too long, which shows they don't have enough retail clientele buying watches from them anymore.
• Luxury Bazaar laid off 30% of their sales staff earlier this year. Also a lot more activity in Facebook groups with Alex and Peter leading the wholesale side.

Yeah, I know. Youtube drama. But I watch them so that you won't have to, lol

[sski]

Originally Posted by bay_area_kid

Looks like the grey market dealers on Youtube are starting to crumble:

• Anthony Farrer (aka. The Timepiece Gentleman) lost more team members recently but now finally admits he's flat broke and unable to pay back debts, including debts to clients that lost their consignment pieces worth $2m when Anthony "misplaced" his backpack in a bar. Rumors suggest he sold the watches and used the money to pay off some of his debts.
• Wolves of Watch Street have recently split up. The remaining two members planned to rebrand to "Alpha Crown". This suggests there isn't enough money in the secondary retail market anymore to support a larger team, so it's every man for himself now. Then suddenly one of the remaining two members leaves as well, citing that he just had to go to Peru and can't explain why. So "Alpha Crown" is now a one-man operation for the foreseeable future.
• Grand Caliber COO quits suddenly and the entire company is going through a "rebranding". Moda activity shows they are now trying to wholesale a lot more of their watches that have been sitting on their website for too long, which shows they don't have enough retail clientele buying watches from them anymore.
• Luxury Bazaar laid off 30% of their sales staff earlier this year. Also a lot more activity in Facebook groups with Alex and Peter leading the wholesale side.

Yeah, I know. Youtube drama. But I watch them so that you won't have to, lol

thanks for taking one for the team! love the update.

[soicanbefree]

Originally Posted by sski

thanks for taking one for the team! love the update.

You cannot trust these people on consignment.

The risk they just sell your 10-100K watch and never pay you is wayyy too high and when it's gone it's gone.

Although anybody who would trust someone like TPG is just asking for it.