Govberg asking US$37.5k for LNIB Blue 5711. What is going on?!

[AshAP]

Originally Posted by jamiek84

I saw this yesterday.



They had one a month ago, 2017 model, for £27,750. Thats an increase of £2k in a month.



I think watchfinder sell people's watches but take a % cut. I can't see the prices going up much more.

I actually think watchfinder are pretty fair with pricing although they are sh*t payers. I sold them my AP rgrc and they only marked it up by 10%. It took about 1 month to get paid though which seemed excessive as I'd previously had same day transfers on every other watch I've sold.


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[AK797]

Originally Posted by AshAP

I don't believe the Rolex story is correct because my squash buddy wanted a SS sub with date and he wanted it in time for his wedding later this month. I got an assurance from my AD friend (non Rolex) that he could get one within 6 weeks however this wasn't good enough for my pal who then telephoned the Official Rolex AD in Leeds. He gave them the chat about the wedding etc which seemed to impress them and they managed to pull one out of the back room which he's now wearing for squash.

It seems that if you need a SS Rolex for a wedding then the waiting list might not be an issue.


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Having to beg to buy a Rolex was the third horseman, we are on the fourth now.

[LitzDoc]

Originally Posted by wisguy

It's crazy, even the white dial is commanding a premium nowadays...



Must be the 40th anniversary craze, and to think that a few years ago I passed on one at at an AD with a small discount!

People should read this book about booms and busts. I read it once per year. It applies to any market.



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[Vivalas]

Originally Posted by AshAP

I actually think watchfinder are pretty fair with pricing although they are sh*t payers. I sold them my AP rgrc and they only marked it up by 10%. It took about 1 month to get paid though which seemed excessive as I'd previously had same day transfers on every other watch I've sold.


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I've sold WF 4 or 5 watches and they always pay in about a week, never any longer. Their offers vary though and if it's a desirable watch they often go higher which for something like the 116500 is fair enough as here's the demand.

They are selling a blue 5711 for £29,950 so I'd imagine they would buy for 24/25k, maybe more?

[AK797]

Originally Posted by LitzDoc

People should read this book about booms and busts. I read it once per year. It applies to any market.



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Greys think they are Jesse Livermore now... but...

[Blumfeld]

. D

[LitzDoc]

Originally Posted by AK797

Greys think they are Jesse Livermore now... but...

You got that right. Another great book.



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[KarlS]

Originally Posted by Vivalas

I've sold WF 4 or 5 watches and they always pay in about a week, never any longer. Their offers vary though and if it's a desirable watch they often go higher which for something like the 116500 is fair enough as here's the demand.

They are selling a blue 5711 for £29,950 so I'd imagine they would buy for 24/25k, maybe more?

Pay pretty prompt and 5 days max. I tend to go there first to save the hassle of private sale. See post 133

[opzxkl]

Originally Posted by AK797

Greys think they are Jesse Livermore now... but...

This is a bull market!

[tiberiustime]

Originally Posted by GB-man

One would assume the tide raises all boats. Sounds cool have any pictures of it?

Here you go: http://ibb.co/fEkH9v It's reflecting the silver lens on the camera so looks sort of funky

[GB-man]

Originally Posted by tiberiustime

Here you go: http://ibb.co/fEkH9v It's reflecting the silver lens on the camera so looks sort of funky

Beautiful! Thx for sharing

[adnjoo]

brings to mind the Tulip mania! wonder why the Dutch were so obsessed with tulips lol

Act 1
Tulipomania
Europe in the 1600s. In the Netherlands, the simple tulip was seen at the time as a novelty item for the very rich. From here, the tulip bulb developed into more of a status symbol for the middle and upper classes in society. At this point the value of tulip bulbs began to significantly increase. The mania didn’t stop there though. The bulbs started being purchased by investors and were traded for exorbitant amounts of money, property and anything else of value. 12 acres of land were being offered for a single bulb. As the prices went up, so did the wildness of the speculation from some people. Looking to make a profit, even the poor invested their life savings into buying tulips due to the fact that everybody else was, an illogical reason of course. This speculation led to a lot of people losing a lot of money when the market price for overvalued tulips inevitably fell back to their fundamental value.
Much of this “madness” still occurs today. People sleep outside an Apple store for days to buy the new iPhone on the day it comes out, when they could just walk in the store and purchase it a few weeks later. The real estate bubble and subsequent house price crash in 2007 is a prime example of a large-scale mania. It is easy to identify a bubble in hindsight, but if you are involved in the bubble, it is imperative to spot it before it bursts if you don’t want to lose a lot of time or money. Always be aware of when the market value of a product is more than its intrinsic value, so you don’t get swept up in the “madness”. You can succeed by independently developing your own plan.



I wouldn't be buying at 37.5k. You are giving away a free Submariner if you just did a bit of homework and source one at 30-ish k.

[W44NEG]

What a mad world. I just need the Aquanaut to become as popular now!

[jamiek84]

Originally Posted by KarlS

I was at a well known U.K. Dealer today who offered £26000 for a blue 5711 and grey gave buyers at just over £29500.00 which is $38350. They also mentioned they have sold 2 of the 40th Anniversary 5711P for £127000 each which is $165000

I have just spoken to the guy that sold the 2x 40th anniversary nautilus and they were to the same person.

He said in the last 4-5 months, the same person has spent nearly £400k on nautilus alone.

[Alford78]

Originally Posted by jamiek84

I have just spoken to the guy that sold the 2x 40th anniversary nautilus and they were to the same person.

He said in the last 4-5 months, the same person has spent nearly £400k on nautilus alone.

The market reflects it for sure. Chrono dried up compared to beginning of the year. But there is a bursting point as there is production.

[Defiancekofb]

On Chrono 24 the Nautilus prices seem to have jumped since the exhibition. Blue dial 5711 are close to or above $40k USD now. White Dial is $29k or higher USD. I don't know if people are actually buying at these prices, but nonetheless, absolute madness.

[enjoythemusic]

Originally Posted by jamiek84

I have just spoken to the guy that sold the 2x 40th anniversary nautilus and they were to the same person.

He said in the last 4-5 months, the same person has spent nearly £400k on nautilus alone.

Love profiteering.

Wonder if the buyer is from the Middle East. It could also be someone buying 'gifts' <cough> bribes </cough> for friends / political allies.

[KarlS]

Originally Posted by enjoythemusic

Love profiteering.

Wonder if the buyer is from the Middle East. It could also be someone buying 'gifts' <cough> bribes </cough> for friends / political allies.

Nice bit of racial profiling????

[Defiancekofb]

Originally Posted by enjoythemusic

Love profiteering.

Wonder if the buyer is from the Middle East. It could also be someone buying 'gifts' <cough> bribes </cough> for friends / political allies.

Originally Posted by KarlS

Nice bit of racial profiling????

[walds11]

Originally Posted by KarlS

Nice bit of racial profiling????

Originally Posted by Defiancekofb

I'm with you fellas, but we need to get this thread back on track.

About a week and half later and the watch hasn't sold, yet.

[Vipes]

Originally Posted by walds11

I'm with you fellas, but we need to get this thread back on track.

About a week and half later and the watch hasn't sold, yet.

Too pricey for pre owned. DavidSW has a new one of 34.5.

[walds11]

Originally Posted by Vipes

Too pricey for pre owned. DavidSW has a new one of 34.5.

Agreed. Or get on a bunch of lists and patiently wait. That's my plan.

[Foxman2k]

Even 34.5 seems nuts

[dmash]

Originally Posted by Foxman2k

34.5 is absolutely ridiculous

ftfy

[Defiancekofb]

I just can't wrap my head around paying over $30k for a watch that doesn't have my name on the certificate. Wasn't there someone that posted that Patek 2 year warranty is non transferable? So say you drop $34k for a 5711 blue that's BNIB and it's running fast, you have to most likely pay another $1,200 to service this BNIB 5711 since warranty is non transferable.

[spiker]

Ok I'm a little curious - I've been reading some of these threads and I recently started one (Retirement Gift) and I'm a bit confused. I know everyone likes/dislikes certain watches and the 5711 is a nice watch whether it's blue or white. I myself like (and ordered) a 5712. But to pay $10k over list seems a bit much. If you like the watch why can't you just wait? I may be a little bit to conservative (relatively speaking) but I would rather wait and put the other $10k on some other frivolous item!

[PJ S]

Originally Posted by Defiancekofb

I just can't wrap my head around paying over $30k for a watch that doesn't have my name on the certificate. Wasn't there someone that posted that Patek 2 year warranty is non transferable? So say you drop $34k for a 5711 blue that's BNIB and it's running fast, you have to most likely pay another $1,200 to service this BNIB 5711 since warranty is non transferable.

Perhaps you should re-familiarise yourself with the thread you’re using to make your point – only this time, read it through to its conclusion, which is the best and important bit.

https://www.rolexforums.com/showthread.php?t=517083

[Oryx]

Originally Posted by KarlS

Pay pretty prompt and 5 days max. I tend to go there first to save the hassle of private sale. See post 133

Do you guys have a certain person that you recommend dealing with at WF. Do they try to low ball you if you try to sell a few watches at the same time? Some of the places off Bond Street have tried to do that to me and I have just ended up walking out.

[Vipes]

Originally Posted by spiker

Ok I'm a little curious - I've been reading some of these threads and I recently started one (Retirement Gift) and I'm a bit confused. I know everyone likes/dislikes certain watches and the 5711 is a nice watch whether it's blue or white. I myself like (and ordered) a 5712. But to pay $10k over list seems a bit much. If you like the watch why can't you just wait? I may be a little bit to conservative (relatively speaking) but I would rather wait and put the other $10k on some other frivolous item!

I think for some people they don't mind paying above retail to get this piece. Waiting can be 1-2 years at most ADs. I think it is crazy too.

[green_dial]

WF in the UK has a new listing for a 2016 5711 at £29,950 (around $39,000). Knocking on the door of a used/grey precious metal complication at this price.