Anyone else getting priced out of the game?

[argee1977]

I've collected watches since i turned 21, so 11 years, maybe not a long time to some but pretty much most of my adult life and in the last year or so it's really been a sad realisation that i just can't stay in this game when it comes to my two favourite brands, Panerai and Rolex.

When i started out the prices were high, but they were reachable with a few months of saving, you could pick up some bargains as well secondhand and there weren't many watches that i really liked that i couldn't get if i just saved up and gave it a little time. But now i'm seeing Rolex Submariners at nearly £4000, Panerai 312s at £4300 and to be honest it's just too much for what i would call basic models, there is nothing really special about either of these, they are both of the same class and for me aren't watches worth £4000+, 5 to 6 years ago when i picked up a Submariner it cost me £2350, and with price rises happening every few months it really was just a matter of time before giving up on them.

The most annoying thing for me is seeing the same thing every year with Panerai's, they release a model i like such as the 26 but i have no chance of getting one, i would wear that watch everyday and not even think of selling it as it's exactly what i want in a PAM, but i couldn't even get on the list at my AD, yet everytime i look at the grey dealers they have two or three of these and the mark up is 100% over MRSP, i know Panerai may think it makes the brand seem more unique and chased after, but to me it just makes me a bit sad that carpetbaggers seem to get the good stuff from ADs

Oh well, just thought i'd blow off a little steam, been thinking about this for a while, the 233 was a watch i wanted since it came out and now i have it i think i'll just sit back and forget new purchases, i can't see the pricing getting any better in the years to come, and my wage won't increase that much unless i sell my soul and become a contractor

So is there anyone else out there feeling like this these days, i can't be the only one that looks at Submariners in shop windows and think 'that was less than £2000 8 years ago, now it's double!"

[Prince]

That's why I go "pre-owned", Ryan.

[argee1977]

Originally Posted by Prince

That's why I go "pre-owned", Ryan.

I know, that's the way i like doing it too, but every price rise seems to put pre-owned prices up as well

[3fifty3]

I think the whole world is going to come back to reality in the next five years or so. The market for luxury goods has expanded to a rediculous proportions in the last 10 years as people bought items normally reserved for the wealthy with cheap credit and home equity lines of credit. The market for homes, cars and other luxury goods evaporated. I think Rolex, panerai ect might find it more difficult to sell watches at such inflated values. There won't be many watches bought by bankers in the next few years...

my opionion

[mfer]

I hear you Ryan. I got into the game late. I didn't buy my first until I was 29, and I have seen ridiculous increases in just a little under two years. The problem is that Panerai and Rolex are selling them. I guess there are just a lot more people out there that have a lot more money than us. I feel like I do "well" and I guess I do. Two Rolex and a Pam.

Those are my base models. The models I want and desire now are so expensive I'm having difficulty justifying it. Could I do it? Yes. Will I do it? Doubtful.

These things do hold their value decent, but I'm trying to stick by a rule - no flipping. I hope to own more b/c of this rule in the end.

[Prince]

Originally Posted by argee1977

I know, that's the way i like doing it too, but every price rise seems to put pre-owned prices up as well

Alas, you are correct, Ryan!

[Duc-904]

I hear you Ryan, well said. More of a problem for Panerai in that the relatively low production numbers mean a lot less great deals floating around on the used market. Deals can always be had on Rolex if you know how to look for them. I've been dreaming of that 233 lately as well!

[argee1977]

Originally Posted by mfer

I hear you Ryan. I got into the game late. I didn't buy my first until I was 29, and I have seen ridiculous increases in just a little under two years. The problem is that Panerai and Rolex are selling them. I guess there are just a lot more people out there that have a lot more money than us. I feel like I do "well" and I guess I do. Two Rolex and a Pam.

Those are my base models. The models I want and desire now are so expensive I'm having difficulty justifying it. Could I do it? Yes. Will I do it? Doubtful.

These things do hold their value decent, but I'm trying to stick by a rule - no flipping. I hope to own more b/c of this rule in the end.

Do i hear that, the 26 in the UK retails for about £4600 which is a lot, but they have a premium on them that makes them £10000-11000, that's just way out of my league, i'd love a 289 as it's like the 233 but in rose gold, but again it retails for about £14000, those are just crazy figures and i couldn't dream of putting that down on a watch

The other thing you say is the most annoying bit nowadays, to get a watch you want you have to flip to raise funds, owning more than one Panerai is an expensive game and i just can't see prices crashing enough to allow me to buy anymore in the near future, well unless Panera mix up their address book and put my address next to Sly Stallones name

[TswaneNguni]

Price increases assures you an increase in the value of the one you already have.Lets face it,keep it long enough and you will get your money back.Keep it longer and you may make a profit,keep it even longer and it may actually turn into a great investment !!

...and in the mean time you have something that you can really enjoy !!

[Prince]

Originally Posted by TswaneNguni

Price increases assures you an increase in the value of the one you already have.Lets face it,keep it long enough and you will get your money back.Keep it longer and you may make a profit,keep it even longer and it may actually turn into a great investment !!

...and in the mean time you have something that you can really enjoy !!

Can't argue with that logic, Chris!

[ronin7]

Agree with your post,ryan getting fed up with the game at the moment.the ony way i can fund any new purchase at is by trading something in,which is very frustating.my pocket cannot keep with recent increases.been considering another omega in the summer,which seem better vaue in these uncertain times.

[tuisquash]

the currency is against you in england, so the watches have too many increases.

[TswaneNguni]

Originally Posted by ronin7

Agree with your post,ryan getting fed up with the game at the moment.the ony way i can fund any new purchase at is by trading something in,which is very frustating.my pocket cannot keep with recent increases.been considering another omega in the summer,which seem better vaue in these uncertain times.

The times are actually now very certain. That also has advantages .... and that can be used to ones own advantage.There are now discounts offered on PAMs in parts of the world where discounts where non-existend before.

[Dan Pierce]

I've always been priced out of the new watch game. Preloved has always been the way for me when it comes to the high end market.
dP

[drtooth73]

I heard that in April Rolex is raising the prices. It's weird in this economy, most other luxury goods can now be had at a lower than before prices. But there are addicts like you and I who will keep buying watches.

[JF23]

Originally Posted by Dan Pierce

I've always been priced out of the new watch game. Preloved has always been the way for me when it comes to the high end market.
dP

I'm with you Dan! Pre-loved is the way to go!

No new purchases for me, but did just make a trade today...

[londonbagpuss]

I understand what you mean ryan, I was stupid, a long while ago I was going to get a PAM, I decided to get some handbags, jewellery etc, so I am late into the game. At the time I could have picked up a base for around £2k, I passed now to get a Pam I want I have to stump up £4300 - 312. I am just glad that with this watch, it will be my only Pam and I can play around with straps.
I got a 18k rolex about 5 years ago for a great price and the exchange rate was in my favour, now I am glad I did, would I have afforded it now?? I doubt it, so on the rolex front, I am getting a ss daytona as my forever piece, I am not interested in flipping either. You must remember you have the knowledge and the resources on this site to be able to find bargains many people do not have that.

[tuisquash]

Originally Posted by londonbagpuss

I understand what you mean ryan, I was stupid, a long while ago I was going to get a PAM, I decided to get some handbags, jewellery etc, so I am late into the game. At the time I could have picked up a base for around £2k, I passed now to get a Pam I want I have to stump up £4300 - 312. I am just glad that with this watch, it will be my only Pam and I can play around with straps.
I got a 18k rolex about 5 years ago for a great price and the exchange rate was in my favour, now I am glad I did, would I have afforded it now?? I doubt it, so on the rolex front, I am getting a ss daytona as my forever piece, I am not interested in flipping either. You must remember you have the knowledge and the resources on this site to be able to find bargains many people do not have that.

my wife still buying bags, she has to rear you.

[londonbagpuss]

Lol, trust me, it gets to stage when you have to stop buying bags, its like a cycle!

[argee1977]

Originally Posted by londonbagpuss

I understand what you mean ryan, I was stupid, a long while ago I was going to get a PAM, I decided to get some handbags, jewellery etc, so I am late into the game. At the time I could have picked up a base for around £2k, I passed now to get a Pam I want I have to stump up £4300 - 312. I am just glad that with this watch, it will be my only Pam and I can play around with straps.
I got a 18k rolex about 5 years ago for a great price and the exchange rate was in my favour, now I am glad I did, would I have afforded it now?? I doubt it, so on the rolex front, I am getting a ss daytona as my forever piece, I am not interested in flipping either. You must remember you have the knowledge and the resources on this site to be able to find bargains many people do not have that.

Yeah, i remember when you could get Rolex MilSubs, Red Subs, DRSDs for decent prices but never really went for them as they were still a bit too expensive, in the last 10 years they've just exploded in price and are now unreachable, instead i spent thousands on my sport at the time, now that bike i bought for 4k is worth 1.5k and if i'd bought a 4k Rolex like a red sub or drsd it would be worth about 12k

[B. Doggy]

What makes these brands so unique and even mystical is that they always seem JUST out of reach for the average person.

[GBJIV]

Originally Posted by jf23

i'm with you dan! Pre-loved is the way to go!

No new purchases for me, but did just make a trade today...

112????

[argee1977]

Originally Posted by B. Doggy

What makes these brands so unique and even mystical is that they always seem JUST out of reach for the average person.

But they weren't as far out of reach 3 or 4 years ago, wages have gone up say an average 4% a year, so in 5 years it's 20% more, but with Panerai and Rolex they've gone up by 80-90% in that same timeframe here in the UK.

It's a bit like the housing market over the last decade, every year the gap gets bigger, until there's an almighty crash as the market can't sustain it any longer, i just hope something happens to stop the rises every 6 months, otherwise there'll be a real risk of these brands just losing the people who got them where they are, it's not the mega rich who buy most of the stock, it is normal guys with a passion for watches.

[mfer]

Originally Posted by JF23

I'm with you Dan! Pre-loved is the way to go!

No new purchases for me, but did just make a trade today...

Scadoush!!!!!!!!

Can't wait to see it!

[argee1977]

Originally Posted by mfer

Scadoush!!!!!!!!

Can't wait to see it!

It's a 331, i know it, he's been using an alias on here to hide it though

[Trurolexer]

Originally Posted by JF23

I'm with you Dan! Pre-loved is the way to go!

No new purchases for me, but did just make a trade today...

Trade your Rolex with 112?

Yeah, i remember when you could get Rolex MilSubs

[mfer]

Originally Posted by argee1977

It's a 331, i know it, he's been using an alias on here to hide it though

I know something you don't know!!!!!!

[Trurolexer]

Originally Posted by bataone

Yeah, i remember when you could get Rolex MilSubs

I wnt tr@de @ll my w@tches for Milit@ry Sub.

[stusrt]

just wait -
the 26 will drop in price in the 2nd hand market -

I wanted the 90 - last year it was selling for $5,900 at AD but I couldn't get one - selling for $7k on ebay and grey market

Now it's $7,400 at AD - 2 in stock - and they will discount-

just bought one 4 months old, K series, for $4,500

Panerai is pricing themselves out of the game - and the used prices are dropping, except for VERY limited editions