Honest assessment or..?

[DonLee]

Originally Posted by rolexpatek363

What is the source of this info?

our own eyes. I have saved searches on several pieces, Aquanaut, Nautilus, Royal Oak 41mm, Royal Oak jumbo, sort by lowest price.

I know what the lowest price was. I see listings become reserved and taken off in early Febuary. I see how many views those listings were getting.

Just because the "avg" listing prices haven't gone down. doesn't mean the cheapest ones, ie the ones more likely to be sold first, haven't.

The prices are still high. But they've finally cooled down a bit.

[GB-man]

Originally Posted by rolexpatek363

What is the source of this info?

Conversations with people who are actively buying and selling. Go ask for a quote. This may all change in a few weeks who knows. The market got soft March 2020 but then we know what followed.

[David001]

I don't know where watch prices or base metals or the S&P500 will be in six months time, but I do know that after this recent look into prices and the way these dealers trade I'll never buy a watch from a grey dealer, it's all smoke and mirrors.

All my watches are AD bought, I paid MRRP, and I think I'll take them to the grave. if I'd paid grey prices and hoped to get my money back at some point then I'd be starting to get a bit concerned.

[rolexpatek363]

Originally Posted by GB-man

Conversations with people who are actively buying and selling. Go ask for a quote. This may all change in a few weeks who knows. The market got soft March 2020 but then we know what followed.

I see. As previously indicated, I'm hanging on until next year, or discontinuation.

[dauster]

Originally Posted by HMHM

Honestly though, if one buys at retail it’s highly unlikely they will take a beating even if the market collapses. So the prices don’t really matter whether the market softens or not. Economics 101 teaches us to buy low and sell high, isn’t it? Only irresponsible grey dealers would tell someone to buy at sky high prices as there are still ROOM to grow. That’s the biggest fake news I’ve ever heard.

Anthony f. (Cough cough) recommended to buy 5980R at all time value but promises client that it will definitely go higher


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[dauster]

Originally Posted by HMHM

I know. That’s a universal issue. However, that’s exactly the problem - people are essentially creating the monster that they themselves hate. If one buys a hulk at today’s price of $25k, it further feeds the grey market with capital to get more stocks from the ADs or flippers to resell at a greater margin. If people exercise a little restraint and stop buying from greys, I’m sure they will have to lower their asking prices to avoid sitting inventories. It’s a very simple concept but unfortunately people would rather pay through their nose than be patient and evaluate the situation carefully.

That doesn’t even work for substances that harm you. Drug business would die immediately if people were capable of restraining themselves.


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[GB-man]

Originally Posted by dauster

Anthony f. (Cough cough) recommended to buy 5980R at all time value but promises client that it will definitely go higher


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He was also playing tug boat terry for pay.

[dauster]

Originally Posted by GB-man

He was also playing tug boat terry for pay.

Lol good point


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[Ichiran]

Originally Posted by Mrngrz46

No for incoming pictures is enough

How do you get the assurance that the watch in the picture is mine, and that's my wrist?

[HMHM]

Originally Posted by Ichiran

How do you get the assurance that the watch in the picture is mine, and that's my wrist?

I can’t believe you are nice enough to entertain his BS after so many post

[HMHM]

Originally Posted by GB-man

He was also playing tug boat terry for pay.

Travis didn’t choose the thug life, the tug life chose him!

[Ichiran]

Originally Posted by HMHM

I can’t believe you are nice enough to entertain his BS after so many post

[Humble michael]

Michael is always a gentleman & a great collector & part of TRF . humble michael:-))

[sampelligrino]

Sure would be nice to get MSRP and retail for watches, especially the very desired ones, but that's not happening any time soon for many of us, nor do many of us have the time to cultivate and finesse those relationships (whether they actually bear fruit or not...)

Easy to crap on the greys, but if you're willing to pay to play - you can have exactly what you want overnighted to your doorstep. No compromises or games. I for one am happy with my small circle of "grey" dealers I work with, the price is the market price and it is what it is. These are watches first and foremost that I for one enjoy and love to wear...

[Nicof]

Just to add my recent personal experience to this thread, I sold my Nautilus 3800/a last week on C24 at the full asking price of GBP 47.5k within two hours (had two offers at full asking price). The watch was in good but not great condition and only came with an extract from the archives. The estimate from C24 was between GBP 44-46k and the suggested listing price was GBP 43.5k I believe. I had been quoted anything from GBP 25k to 36k from dealers in direct cash offers…

So three takeaways for me:

1. Market does not seem particularly slow as my watch sold very quickly at a price I thought was on the higher end (I was clearly wrong!)
2. C24 estimates are not always that far off the mark.
3. Avoid selling to dealers…


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[Jlamb]

Originally Posted by Nicof

Just to add my recent personal experience to this thread, I sold my Nautilus 3800/a last week on C24 at the full asking price of GBP 47.5k within two hours (had two offers at full asking price). The watch was in good but not great condition and only came with an extract from the archives. The estimate from C24 was between GBP 44-46k and the suggested listing price was GBP 43.5k I believe. I had been quoted anything from GBP 25k to 36k from dealers in direct cash offers…

So three takeaways for me:

1. Market does not seem particularly slow as my watch sold very quickly at a price I thought was on the higher end (I was clearly wrong!)
2. C24 estimates are not always that far off the mark.
3. Avoid selling to dealers…


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I have never sold a watch on C24 as I always have this fear of the buyer pretending the watch is fake or lost in transit. Can you actually screen the buyers?

[pp3355]

Originally Posted by Nicof

Just to add my recent personal experience to this thread, I sold my Nautilus 3800/a last week on C24 at the full asking price of GBP 47.5k within two hours (had two offers at full asking price). The watch was in good but not great condition and only came with an extract from the archives. The estimate from C24 was between GBP 44-46k and the suggested listing price was GBP 43.5k I believe. I had been quoted anything from GBP 25k to 36k from dealers in direct cash offers…

So three takeaways for me:

1. Market does not seem particularly slow as my watch sold very quickly at a price I thought was on the higher end (I was clearly wrong!)
2. C24 estimates are not always that far off the mark.
3. Avoid selling to dealers…


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That was a very good price (obviously because it sold so quickly)

I saw another one that vanished in 24hrs and price was 55


What dealers lowballed you so low?

I wanted to sell my roman numbers at my go to dealer and he quoted me 43 direct and 46 consign..

[Nicof]

Originally Posted by Jlamb

I have never sold a watch on C24 as I always have this fear of the buyer pretending the watch is fake or lost in transit. Can you actually screen the buyers?

Don’t get me wrong, it’s always a bit nerve wracking but so far I’ve sold 5 watches on C24 and haven’t had any issues…they have all been local in the UK though.

When an individual makes an offer their name is revealed and then up to you to do your due diligence.

C24 act as a middle man with an escrow account and will only actually reveal the address of the seller once they’ve received the money in their account (to prevent people from sending before c24 has the money). You then send the watch (making sure it is fully insured and tracked) and the buyer will let C24 they can release the payment. Some buyers need to be nudged a bit on this last step but in any case C24 will release the payment 7 days after the watch was delivered.


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[Nicof]

Originally Posted by pp3355

That was a very good price (obviously because it sold so quickly)

I saw another one that vanished in 24hrs and price was 55


What dealers lowballed you so low?

I wanted to sell my roman numbers at my go to dealer and he quoted me 43 direct and 46 consign..

Lowest was watchbox, highest was EWC. On consignment I was getting quoted max GBP 45k (-10% consignment fee) by local dealer.


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[rolexpatek363]

Originally Posted by Nicof

Just to add my recent personal experience to this thread, I sold my Nautilus 3800/a last week on C24 at the full asking price of GBP 47.5k within two hours (had two offers at full asking price). The watch was in good but not great condition and only came with an extract from the archives. The estimate from C24 was between GBP 44-46k and the suggested listing price was GBP 43.5k I believe. I had been quoted anything from GBP 25k to 36k from dealers in direct cash offers…

So three takeaways for me:

1. Market does not seem particularly slow as my watch sold very quickly at a price I thought was on the higher end (I was clearly wrong!)
2. C24 estimates are not always that far off the mark.
3. Avoid selling to dealers…

Useful, thanks. The "doomsters" of this forum won't like it. I see no reason why blue-dialled steel Nautilus prices won't continue to rise. It's an iconic design classic, and style never goes out of fashion.

[Jlamb]

Originally Posted by Nicof

Don’t get me wrong, it’s always a bit nerve wracking but so far I’ve sold 5 watches on C24 and haven’t had any issues…they have all been local in the UK though.

When an individual makes an offer their name is revealed and then up to you to do your due diligence.

C24 act as a middle man with an escrow account and will only actually reveal the address of the seller once they’ve received the money in their account (to prevent people from sending before c24 has the money). You then send the watch (making sure it is fully insured and tracked) and the buyer will let C24 they can release the payment. Some buyers need to be nudged a bit on this last step but in any case C24 will release the payment 7 days after the watch was delivered.


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Ah, thanks for the insight. I wish they have ratings for buyers as well though.
I remember checking the fedex tracking number every hour when I ordered a watch from C24. And then my concierge signed for it without telling me. It was sitting in the lobby of my building unguarded for an hour. But I got a C24 notification saying that the watch has been delivered, that hour was horrible.

[Nicof]

Originally Posted by Jlamb

Ah, thanks for the insight. I wish they have ratings for buyers as well though.
I remember checking the fedex tracking number every hour when I ordered a watch from C24. And then my concierge signed for it without telling me. It was sitting in the lobby of my building unguarded for an hour. But I got a C24 notification saying that the watch has been delivered, that hour was horrible.

Haha i can imagine!


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[marselluswallace]

My recent experience(last month or so)

Sold my 5711R to a UK dealer for 5x what I paid for it brand new from PP AD(£39k)

They then advertised it for £250k and sold it within 7 days

Crazy market….!

[pp3355]

Originally Posted by rolexpatek363

Useful, thanks. The "doomsters" of this forum won't like it. I see no reason why blue-dialled steel Nautilus prices won't continue to rise. It's an iconic design classic, and style never goes out of fashion.

Especially because there is no new replacement and lot of people still want the "original"

[pp3355]

Originally Posted by Nicof

Lowest was watchbox, highest was EWC. On consignment I was getting quoted max GBP 45k (-10% consignment fee) by local dealer.


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Good old tim mosso

[David001]

Originally Posted by rolexpatek363

Useful, thanks. The "doomsters" of this forum won't like it. I see no reason why blue-dialled steel Nautilus prices won't continue to rise. It's an iconic design classic, and style never goes out of fashion.

It was never in fashion until a few years ago

It'll hover where it is, or might go up a bit more, for a year or two more at least I think, then when the fashion fades it will drop and trade at a little under retail.

[rolexpatek363]

Originally Posted by David001

It was never in fashion until a few years ago

It'll hover where it is, or might go up a bit more, for a year or two more at least I think, then when the fashion fades it will drop and trade at a little under retail.

You'll be telling us the Rolex Sub is a fad next!

The steel/blue Nautilus will never go out of fashion. It's a classic Genta design icon. You chose a niche model.

[Humble michael]

Ha David , the 5711 is iconic and value will only continue to increase. Fashion doesn’t change on a classic.JMO humble michael

[David001]

Originally Posted by rolexpatek363

You'll be telling us the Rolex Sub is a fad next!

The steel/blue Nautilus will never go out of fashion. It's a classic Genta design icon. You chose a niche model.

Rolex and Patek have always been good products and desirable to watch enthusiasts, I aspired to own them and I'm lucky now that I do, so I'm not knocking them, but they were never anything like what you're experiencing now, paying over retail for a Sub or Nautilus would have been laughable and you'd usually move on to the next shop if you weren't offered at least 10% discount on either, and used ones would be available at massive discounts some years.

I think it may be a while until it happens but it's quite foreseeable that things will return to them not being so fashionable and therefore back to sensible pricing.

[David001]

I'm not so keen on the way things are at the moment.

I always bought my watches fairly sure in the knowledge that they would depreciate to a point and I'd never get MRRP back, I bought them because I liked them, it was never about investments.

I knew I'd probably sell some eventually to trade up, but some I bought to keep forever.
None were ever bought with a view to making money.

Some people get very upset if you suggest that their watches might not continue to be worth more than they paid, I don't want to be too provocative but I think it shows their motivation in buying timepieces.