Availability/Price

[corkygmt]

Think I may have had this thread deleted for a (unintended) political comment and if so I apologise. The point I wanted to make is that I feel there are a lot of Rolex owners who are not hugely wealthy (especially in the reasonably priced GMT/Sub owner group) who like me, are of average income, are watch enthusiasts and have aspired to and saved to buy their Rolex watches. Now this disease is spreading and people are getting sick and jobs are being lost. I think the first thing people who cannot pay their mortgage and put food on the table are going to do is sell their luxury goods to make ends meet. After all a Rolex is not one of life necessities. If this happens I think we are going to see a lot of private pieces coming into the market place and I think if there is an urgency to sell then prices will be nowhere near what they are now, as people realise no-one is going to pay£12-13k for a Pepsi in this climate. In the Uk they are talking of lockdown lasting to June and I think things are going to get a lot worse before it improves. Just my opinion with no intention to offend!

[Oystersteel92]

Originally Posted by corkygmt

Think I may have had this thread deleted for a (unintended) political comment and if so I apologise. The point I wanted to make is that I feel there are a lot of Rolex owners who are not hugely wealthy (especially in the reasonably priced GMT/Sub owner group) who like me, are of average income, are watch enthusiasts and have aspired to and saved to buy their Rolex watches. Now this disease is spreading and people are getting sick and jobs are being lost. I think the first thing people who cannot pay their mortgage and put food on the table are going to do is sell their luxury goods to make ends meet. After all a Rolex is not one of life necessities. If this happens I think we are going to see a lot of private pieces coming into the market place and I think if there is an urgency to sell then prices will be nowhere near what they are now, as people realise no-one is going to pay£12-13k for a Pepsi in this climate. In the Uk they are talking of lockdown lasting to June and I think things are going to get a lot worse before it improves. Just my opinion with no intention to offend!

You're exactly right, and I said nearly the same thing in one of the larger price threads. This market will break when people have to start selling watches to raise cash. It's what happened during the last financial crisis and was most apparent when SS Daytonas started appearing on reputable, long term GM sites at list price or even below in some instances.

I've had Rolexes in the past that I couldn't hold on to for financial reasons, and I vowed never again, so when I bought my Daytona earlier this month, it was from a position of financial strength. Plenty of liquidity and if I were to lose my job, it would be because the world is in such a bad place that NOBODY would be escaping the consequences. My job isn't flashy, and I certainly doesn't come with the paycheck that many on this board have, but it's very, very secure.

[cocoabutter]

I agree, people need to eat and you cannot eat a watch. I think there will be a glut of watches available in the coming months. Quality Grey’s will provide a safe place to purchase a watch from.
I wish this wasn’t the reason for prices to fall but we need to roll with the many punches coming our way.

[newu5er]

I like the topic here, but to be honest, this is the 232nd thread with the same focal point. Obviously you are free to post whatever you wish, but if you searched terms relevant to the statement(s) you made in your original post, you would have enough responses to read to keep you busy for two full days of quarantine.

[johnorpheus]

You know what we needed? Another one of these same exact threads. Thank you.

[1665fan]

Please hold your breath as long as you can....

[exador]

Originally Posted by johnorpheus

You know what we needed? Another one of these same exact threads. Thank you.

We’ve been crying out for a “Price Talk” section for years...

[GoingPlaces]

It's happening. I've seen a couple of very fair priced pieces offered on TRF. Caused me to wonder why.

[GADNYC]

From the supply side, manufacturing of new pieces will be shut down for a while as well. So while demand may lag, supply is going to lag as well.

[ThatSubGuy]

Big picture the 8k you get for a sub isn't going to make a difference.

[DonRickles]

So, you’re hoping to benefit by others hardships...

Lower than no class, IMO....

[alphasports]

Originally Posted by ThatSubGuy

Big picture the 8k you get for a sub isn't going to make a difference.

I tend to agree with this.

I mean if we knew where the tunnel of this virus was definitively ending and we needed 8k to bridge the last bit to make it to the finish line, ok I get it, but we have no idea. Cash is king for sure but in this case if I needed a short term bridge I would give some thought to dipping into a line of credit at 1% interest rather than selling a watch for 8k that I can sell for, or will be worth, 10-12k in 6 months or a year.

[Calatrava r]

We do know one thing for certain, there will be an amount of availability at a price point.

[dontbeshort]

Sell while you can ..... not when you have to

[Simon_jrees]

Selling a Rolex is one thing... when it might be received right now is something else.

[dwjez14]

I ran into this issue for another hobby we are getting back into the Saltwater fish tank hobby. I have been waiting on a deal. Well one popped up it and it was 7000 worth of tank and supplies. I got
It for 1500 from some poor guy who lost his job in oil and gas. He needed the cash bad

[mmmmp]

If someone is really hurting for cash, it would behoove both to strike a deal. Getting a great deal doesn't or shouldn't make one feel guilty. There was a 'revolution' of synthesizers back in the 80's in which folks were dumping previously used and very expensive gear for pennies on the dollar in order to upgrade. Right place, right time with financials solid I was lucky enough to add some wonderful gear to my studio and yet. in almost every case the sellers always thanked *me* because they were getting what they wanted as well. That's what a good deal is all about.

If someone is desperate, as long as you don't *unfairly take advantage* there is no reason to pass on a good, great or fantastic deal as long as you act with decent and fair moral conscience.

Sent from my SM-A520W using Tapatalk

[daOnlyBG]

Originally Posted by corkygmt

The point I wanted to make is that I feel there are a lot of Rolex owners who are not hugely wealthy...are of average income, are watch enthusiasts... I think the first thing people who cannot pay their mortgage and put food on the table are going to do is sell their luxury goods to make ends meet... this happens I think we are going to see a lot of private pieces coming into the market place...

In my humble opinion, I think you're overestimating how many people are that cash-strapped to sell their professional/sport Rolexes.

[Littletommy]

Not this again.

[mat355]

Originally Posted by daOnlyBG

In my humble opinion, I think you're overestimating how many people are that cash-strapped to sell their professional/sport Rolexes.

Same thing over and over ....I agree with your comment....

I'd sell all my watches today and buy equities, this could be one of the best buying opportunities of our lifetime.

[sl55on20s]

Originally Posted by daOnlyBG

In my humble opinion, I think you're overestimating how many people are that cash-strapped to sell their professional/sport Rolexes.

Exactly. Some people don't get it.

[AbsolutelyROLEX!]

How bout this
The people that need to sell still ask overhyped prices to make up for any losses due to the virus?

I would...

[DJ39]

Look there are some desperate people out there that have lost their jobs, let’s hope they find patience to do the right thing.

I am reading the plague by Albert Camus, someone on this Forum recommended it


Sent from my iPhone using Tapatalk

[enjoythemusic]

Originally Posted by newu5er

I like the topic here, but to be honest, this is the 232nd thread with the same focal point..

Yup. Look fwd to the day flippers get financially fu...ed and prices go back to normal-to-15% discount.

[enjoythemusic]

Originally Posted by daOnlyBG

In my humble opinion, I think you're overestimating how many people are that cash-strapped to sell their professional/sport Rolexes.

We'll know two months from now who lives beyond their means. CFTC had to bail out Capitol One last week. Let that sink in.

We live in interesting times.

[daOnlyBG]

Originally Posted by mat355

Same thing over and over ....I agree with your comment....



I'd sell all my watches today and buy equities, this could be one of the best buying opportunities of our lifetime.

I’m inclined to do a little more investing in equities and I did put a small percentage of my cash back into a few ETFs. But then I stopped, because the I realized the implications of a pandemic can go a lot further than companies slowing down their operations for a short while.

In other words, we may have a long way left in our descent before things can better. And it might be a longer way down that we previously thought.

Nevertheless the cash is ready :-)

Edited to add: I would not agree with selling watches to fund equities. That's directly conflating your watches with investments and it's a fool's game, largely to the reason I specified above. If the market plunges further on reports of an already rising death toll, you're going to lament selling off your collection.

If you were on edge about a particular watch in your collection that doesn't fit, that might be a different story, but I would just as well recommend selling that at any other time.

[daOnlyBG]

Originally Posted by enjoythemusic

We'll know two months from now who lives beyond their means. CFTC had to bail out Capitol One last week. Let that sink in.

We live in interesting times.

There's not much to sink in. Bailouts don't go to the individuals who need them most. This has been the case under the last three administrations, so as to avoid any mentioning of partisan politics.

The massive government stimulus packages further make me optimistic that people who otherwise would afford Rolex will continue to afford Rolex.

If anything will slow down the watch market, it will only be a slowed down momentum of sales that will gradually eliminate all the "side hustlers" who realize that their "investments" didn't pan out in their "watch collecting."

So, OK, maybe it'll be slightly easier to get a Submariner or Explorer, temporarily. But the guys who are buying GMTs and Daytonas? Nah. They're going to continue buying them.

[WatchNutcase]

Originally Posted by Oystersteel92

You're exactly right, and I said nearly the same thing in one of the larger price threads. This market will break when people have to start selling watches to raise cash. It's what happened during the last financial crisis and was most apparent when SS Daytonas started appearing on reputable, long term GM sites at list price or even below in some instances.

I've had Rolexes in the past that I couldn't hold on to for financial reasons, and I vowed never again, so when I bought my Daytona earlier this month, it was from a position of financial strength. Plenty of liquidity and if I were to lose my job, it would be because the world is in such a bad place that NOBODY would be escaping the consequences. My job isn't flashy, and I certainly doesn't come with the paycheck that many on this board have, but it's very, very secure.

Government?

[Tha Baron]

Originally Posted by johnorpheus

You know what we needed? Another one of these same exact threads. Thank you.

You've been here a month - you must be at your wits end

[msdtra]

I would agree that the biggest values will be from individuals trying to raise cash. But, it will be right place right time, in my view. I think Grey prices will come down but just who can wait it out and buying demand.

Supply & Demand