Strange happenings in Hong Kong - grey market dealers

[youthagainsttt]

As people on this forum may know I’m obsessed with watches, even when I’ve just bought one I’d still go out the next day to try on others just for the heck of it.

Been eyeing up some Daydates in the past few days and just asked the dealer how much I’d get if I part exchanged my gold 15500 which is new, even though I’ve got no intention of flipping it but just curious about the p-ex value. Well I was surprised when the 1st dealer said he wouldn’t take it in.

So I went to another dealer in a different area of HK, he also said the same thing. And this happened another 2 more times. Why could this be? Is it because the value of AP is quite volatile recently & they’ve been burnt? But then again all watches have gone down a bit recently. The 2nd shop also mentioned they only trade Rolex & have stopped trading any other brand.

Anyone have any ideas on this?