Insanity in the marketplace....

[mykii]

Originally Posted by rodo

This. I actually think the daytona prices are more ridiculous; it’s been out for years. Don’t forget the while Milgauss fetched 20k when it first came out. It trades for 5k now.

What?? A white Milgauss was never $20k. Those sat unloved at release, for the years they were still being made, and even now today still. Cool watch but its a niche buy for a niche market, and frankly I remember them trading for $4.4k just a few years ago.

[NYG1121]

Increase supply and this all goes away. Plain and simple. Lets see if rolex wants to take that chance. I doubt it

[Mystro]

This price is a stupidity test. I may be too smart for Rolex these days. The days of BLRO owners taking crap for paying $16k seem whimsical and insignificant.

[Posh Gentleman]

Originally Posted by fsprow

Insanity is a medical condition. Prices result from agreement between a willing buyer and a seller. One may not like them, or believe they will not be sustained, but they are what they are.

Personally I wish Rolex would raise MSRP's closer to actual market prices.

What you describe holds true for liquid assets with large trading volume. such as common equity of large corporations. Enough quantity of both demand and supply.

This Rolex SS Sub selling for $30k is not a symptom of well functioning market.

It is most likely some entities / dealers / flippers soaking up what little supply of goods exist in the market, and jacking up the price based on short term hype.

[Cwillis0001]

Now we know why James Bond wears Omega. He can no longer afford a sub on a government salary.

[envuks]

Rolex as a brand has become like a girlfriend you love who cheats on you all the time, but you can’t bring yourself to leave her.


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[Soondooboo]

Originally Posted by vh2k

Professional brokers and traders. Someone buys an OP at $6,300-$6,500 and sells to DSW for $7,200. DSW sells for 8,100.

Bigger profits for the new Sub!!!

Rolex, AD, Flipper, DSW all make money.

Customer gets his watch without waiting.

Lol, no. AD sells directly to the grey, who also buy lesser desirable pieces in bundle, AD and Grey makes money. End consumers get screwed.

[bonovox]

Now is a really good time to look at the many great brands and watches out there other than Rolex.

[trfChris]

How much is it worth to you to be the first in your Instagram circle to post a selfie with the new Kermit? This particular experience is what DavidSW and other grey dealers are selling right now.

There are a lot of people where the answer to that question is “easily more than $30k”, hence we arrive at the price you see.

[ippon20]

Originally Posted by badams118

I bet it sells by end of day.

Taking a watch off a website by end of day does not constitute a sale....unless you are the one that has purchased it and are disclosing the sale price, how do you know what has and hasn't sold? And for what amount?

[JRell]

Originally Posted by trfChris

How much is it worth to you to be the first in your Instagram circle to post a selfie with the new Kermit? This particular experience is what DavidSW and other grey dealers are selling right now.

There are a lot of people where the answer to that question is “easily more than $30k”, hence we arrive at the price you see.

I think those people need to step away from the computer, go outside, take a deep breath, and laugh and say to themselves, 30k for a 10k watch, what was I thinking! Maybe join an impulsive buyers therapy group or something.

[Mystro]

Originally Posted by bonovox

Now is a really good time to look at the many great brands and watches out there other than Rolex.

Absolutely, and I love them just as much and maybe more.

[Brian Page]

Originally Posted by tgoose1

It is my understanding that most grey market Rolex inventory is sourced through offshore sources. Some big name dealers here source this way exclusively. Just refer to origin codes on the warranty cards, not many US/AD's will be found especially for more popular models. Most watches from greys that look perfect and are advertised as "excellent, unworn, or like-new" have been professionally refinished. The best/safest way to purchase a brand new Rolex watch is through an authorized Rolex dealer.

How is this your understanding? Have you purchased from many of the trusted sellers on the forum?

[V25V]

The insanity isn't that he is asking for it, its that someone will pay it. If there was nobody who would, we wouldn't have this problem.

[Brian Page]

Originally Posted by Mystro

Absolutely, and I love them just as much and maybe more.

Yes, and I love your carbotech..

[Bizcut1]

Originally Posted by dhknola

Capitalism in action and just as (if not more) American than apple pie! Supply and demand...cracks me up when people get upset when a widget is 18k over msrp; no one is making you buy it.

Yup. Your view is usually biased by whose ox is being gored.

That's life.

[hlippy4]

Originally Posted by trfChris

How much is it worth to you to be the first in your Instagram circle to post a selfie with the new Kermit? This particular experience is what DavidSW and other grey dealers are selling right now.

There are a lot of people where the answer to that question is “easily more than $30k”, hence we arrive at the price you see.

That would be someone who has a very sad...very sad life!!

[Mystro]

Originally Posted by trfChris

How much is it worth to you to be the first in your Instagram circle to post a selfie with the new Kermit? This particular experience is what DavidSW and other grey dealers are selling right now.

There are a lot of people where the answer to that question is “easily more than $30k”, hence we arrive at the price you see.

When vapid wankers become the face of the Rolex brand is when it will kill the brand quicker than a quartz Sub. That is one X factor Rolex can’t control with their image.

[ippon20]

Originally Posted by V25V

The insanity isn't that he is asking for it, its that someone will pay it. If there was nobody who would, we wouldn't have this problem.

I'll go a step further and say the fact that if this thread wasn't started which is just creating buzz this problem wouldn't exist. I mean just take a gander at who is watching the thread.

[Daytonaman799]

Ridiculous

[JRell]

Originally Posted by Mystro

When vapid wankers become the face of the Rolex brand is when it will kill the brand quicker than a quartz Sub. That is one X factor Rolex can’t control with their image.

Wankers, lol, my new favorite word!

[Mystro]

Originally Posted by Brian Page

Yes, and I love your carbotech..

Thank you and that was one of the watches that breathed new life back into me as a watch enthusiast.

[RHIII]

Originally Posted by ippon20

Taking a watch off a website by end of day does not constitute a sale....unless you are the one that has purchased it and are disclosing the sale price, how do you know what has and hasn't sold? And for what amount?

I’d just like to understand the algorithm that comes up with these prices. I mean...how does one mathematically get to 190% markup?


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[brandrea]

I was expecting a 1 in front of it ... reminds me of real estate

Good for him, someone will probably buy it.

[ippon20]

Originally Posted by RHIII

I’d just like to understand the algorithm that comes up with these prices. I mean...how does one mathematically get to 190% markup?


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[Rado63]

When a reseller has access to four newly released pieces, priced at a premium and I can't buy just one of those pieces from my local AD, just demonstrates that there is a long standing network that flow these watches into favorable dealers.

[majidessa]

These insane prices will eventually hurt both Rolex and the ADs in the end, it is like 2008 real estate bubble. Rolex need to stop these games as:

1- Loyal customers are tired of this waiting list / AD vip list call it what you want.
2- There are other higher end brands that are more appealing at this price point such as AP, VC to name a few.
3- And other competitive brands such as OMEGA are getting more attention and are upping their game.

Watches are luxury non essential items, once the bubble burst many clients will feel cheated; they will start dumping their watches and the brand might never recover.

[RHIII]

Originally Posted by ippon20

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I kinda figure that’s the case. It’s super obscure - and when you go look at various references across manufacturers and correlate (or try to) markup variance and fold in criteria like age, condition etc - you can tell there is no ‘formula’.

The stat I would really like to know is realized — like after an auction.


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[JRell]

I am telling you this all started with Nike aftermarket. Hot shoes go for 4x on the grey. You need more cash flow with the watches to get off the ground, but I don’t know what can stop this. Luxury purses as well.

[Maxy]

Originally Posted by RHIII

I’d just like to understand the algorithm that comes up with these prices. I mean...how does one mathematically get to 190% markup?

The amount is not 190%. Do you think DavidSW gets it for MSRP? He might have paid over $20 to $23K easily and marking up around $5K profit for himself!

He could have bought it from some seller but mostly its an AD who will sell it for twice the price and earns multiple times profit for selling 1 piece, which he would need to get by selling 3-4 Cermits! Win for the AD is first!