5968a

[sxdcfv]

There are so many 5968A just sitting on Chrono24 around $80k. Anyone have any insight as to what price point these pieces are actually selling for?

Anyone think the stock market crash will force lower price point sales?

Thanks.

[carnivor32]

47th street nyc diamond district is shut down, people losing jobs left and right, watches are not going to be moving anytime soon. grays are all dropping prices, just not advertising them. some who can will hold on to stock and hope for a recovery, but some will not and will raising cash capitol were they can.

[SimpleMan91]

Originally Posted by carnivor32

47th street nyc diamond district is shut down, people losing jobs left and right, watches are not going to be moving anytime soon. grays are all dropping prices, just not advertising them. some who can will hold on to stock and hope for a recovery, but some will not and will raising cash capitol were they can.

Couldn’t have said it better myself.


Sent from my iPhone using Tapatalk

[Pateks]

It’s a buyers market. Find one you like and make an offer.

[cascavel]

Wait six weeks and you should be able to get one for around MSRP. There is absolutely no market liquidity for luxury goods at the moment. No one is working and generating income.
Has anyone considered the issue of residential real estate? People have a lot of their wealth tied up in properties and it's going to be impossible to market anything for the foreseeable future. Prices are going to crash wiping out most of the equity people have in their homes. How many small businesses will survive 2-3 months being shut down. When this is over millions of people will have no job to return to.
The U.S. Government can create all the money it wants but getting it into the hands of the citizenry will prove impossible.

[CHEY]

Prices have been declining before covid 19.

Chrono24 prices are no longer indicative of how much the pieces are actually being traded. I know this because I am familiar with a few grey dealers who told me first hand. For example, used 5711/1As and 5712/1As are trading at USD55k and USD60k, or even lower depending on the year (if traded at all right now given the virus situation).

I see a few dealers on this forum continue to ask for sky high prices for weeks (some even for months). But that should tell you something. The dealers ain't moving the pieces. Do you want to be that sucker who buys from them at those prices when no one is?

If you want prices to go down? Simple. Just don't buy from these dealers (for now). Play the long game. You hold cash and they hold stock. I think you will last longer than them. If you last long enough, they can't do much but lower prices.

One more reason for you to not buy: as cascavel mentioned above, prices are going down. Why would you buy a declining asset?

I read somewhere that in this environment the dealers who can afford to hold stock now will do so and will refuse to lower their prices. Those who cannot afford to do so (most likely because they need cash to run their business) will start lowering prices until they can sell.

If enough of us stop buying from the grey buyers, we will see prices normalize at some point (relatively speaking) and we should be able to purchase these watches at more reasonable prices at some point. I, for one, am doing my part do try to make that happen.

[DayTona78]

very well put. agree 100%

Originally Posted by CHEY

Prices have been declining before covid 19.

Chrono24 prices are no longer indicative of how much the pieces are actually being traded. I know this because I am familiar with a few grey dealers who told me first hand. For example, used 5711/1As and 5712/1As are trading at USD55k and USD60k, or even lower depending on the year (if traded at all right now given the virus situation).

I see a few dealers on this forum continue to ask for sky high prices for weeks (some even for months). But that should tell you something. The dealers ain't moving the pieces. Do you want to be that sucker who buys from them at those prices when no one is?

If you want prices to go down? Simple. Just don't buy from these dealers (for now). Play the long game. You hold cash and they hold stock. I think you will last longer than them. If you last long enough, they can't do much but lower prices.

One more reason for you to not buy: as cascavel mentioned above, prices are going down. Why would you buy a declining asset?

I read somewhere that in this environment the dealers who can afford to hold stock now will do so and will refuse to lower their prices. Those who cannot afford to do so (most likely because they need cash to run their business) will start lowering prices until they can sell.

If enough of us stop buying from the grey buyers, we will see prices normalize at some point (relatively speaking) and we should be able to purchase these watches at more reasonable prices at some point. I, for one, am doing my part do try to make that happen.

[The Argonaut]

Originally Posted by cascavel

Wait six weeks and you should be able to get one for around MSRP. There is absolutely no market liquidity for luxury goods at the moment. No one is working and generating income.
Has anyone considered the issue of residential real estate? People have a lot of their wealth tied up in properties and it's going to be impossible to market anything for the foreseeable future. Prices are going to crash wiping out most of the equity people have in their homes. How many small businesses will survive 2-3 months being shut down. When this is over millions of people will have no job to return to. The U.S. Government can create all the money it wants but getting it into the hands of the citizenry will prove impossible.

Quite so. I wonder where we'll be in six weeks. I think the hole will be much deeper. As much as I dislike saying, this is just the start.

I think very few, if any, greys can ride this out. Like Chey said, wait. Things may go lower than MSRP. Virtually no-one can predict how a black swan will play out.

[LJubel328]

Originally Posted by CHEY

Prices have been declining before covid 19.

Chrono24 prices are no longer indicative of how much the pieces are actually being traded. I know this because I am familiar with a few grey dealers who told me first hand. For example, used 5711/1As and 5712/1As are trading at USD55k and USD60k, or even lower depending on the year (if traded at all right now given the virus situation).

I see a few dealers on this forum continue to ask for sky high prices for weeks (some even for months). But that should tell you something. The dealers ain't moving the pieces. Do you want to be that sucker who buys from them at those prices when no one is?

If you want prices to go down? Simple. Just don't buy from these dealers (for now). Play the long game. You hold cash and they hold stock. I think you will last longer than them. If you last long enough, they can't do much but lower prices.

One more reason for you to not buy: as cascavel mentioned above, prices are going down. Why would you buy a declining asset?

I read somewhere that in this environment the dealers who can afford to hold stock now will do so and will refuse to lower their prices. Those who cannot afford to do so (most likely because they need cash to run their business) will start lowering prices until they can sell.

If enough of us stop buying from the grey buyers, we will see prices normalize at some point (relatively speaking) and we should be able to purchase these watches at more reasonable prices at some point. I, for one, am doing my part do try to make that happen.

I am tempted to start low-balling grey but as others have mentioned there is no end in sight which is frightening. No one knows how long this will last, and given the lack of government action (within the U.S. at least) I regrettably see the economy spiraling downward for some time.

This is just the beginning. Once greys realize they are no longer in a position to dictate prices, and only the 0.1% are buying, prices will begin to plummet. Until that happens, I will hold out

[GreenLantern]

I'm still surprised at how highly this one was valued on the secondary market vs. the other Aquas.

I love it, but it's not that much more special to warrant 2x the premium of other Aquas.

[kultschar]

Originally Posted by GreenLantern

I'm still surprised at how highly this one was valued on the secondary market vs. the other Aquas.

I love it, but it's not that much more special to warrant 2x the premium of other Aquas.

Its all because of that Orange strap

[Bosscheto]

Originally Posted by CHEY

Prices have been declining before covid 19.

Chrono24 prices are no longer indicative of how much the pieces are actually being traded. I know this because I am familiar with a few grey dealers who told me first hand. For example, used 5711/1As and 5712/1As are trading at USD55k and USD60k, or even lower depending on the year (if traded at all right now given the virus situation).

I see a few dealers on this forum continue to ask for sky high prices for weeks (some even for months). But that should tell you something. The dealers ain't moving the pieces. Do you want to be that sucker who buys from them at those prices when no one is?

If you want prices to go down? Simple. Just don't buy from these dealers (for now). Play the long game. You hold cash and they hold stock. I think you will last longer than them. If you last long enough, they can't do much but lower prices.

One more reason for you to not buy: as cascavel mentioned above, prices are going down. Why would you buy a declining asset?

I read somewhere that in this environment the dealers who can afford to hold stock now will do so and will refuse to lower their prices. Those who cannot afford to do so (most likely because they need cash to run their business) will start lowering prices until they can sell.

If enough of us stop buying from the grey buyers, we will see prices normalize at some point (relatively speaking) and we should be able to purchase these watches at more reasonable prices at some point. I, for one, am doing my part do try to make that happen.

The question is not only stopping buying from the gray dealers, but also stop selling to them. I have been critical in the past of the practice, and I do not want to sound hypocritical. But large part of their stock comes from lucky buyers, especially in the beginning of the whole over MSRP cycle. How many people bought a Nautilus and actually wore it in the last 3 years? This was the engine in boosting the prices, these watches were never rare watches, just were concentrated in the hands of few. How many threads we see on the Rolex part with people not so interested in Rolex, but have a chance to buy something in steel from an AD and go to check is this hard to get, how much can I resell it for?

[sechsgang]

I doubt they will fall that much at all. I figure low point used is mid 60s, and patek isn't putting any new ones out for a bit given the whole scenario and unlike a 5164 which has been out since 2012, even at peak a boutique/ad may only see 1-2 of these a year. Will be interesting to see overall...but to those of you who think these are ever hitting MSRP on the secondary market...uh...severely doubt it! The best chance to grab one of these would be if you know someone directly effected who's looking to liquidate and who isn't a dealer...there will be a couple deals out there like that but that's about what I see.

[wisguy]

Not sure how much prices will go down, some decline is expected but...

People that are well off will continue to be, if you can't buy a watch today but you could a few weeks ago, then the real answer is you should not have been buying watches and you were probably spending more than you should.

I think in the watch market there are people that will always buy not matter the price as most don't care about resale value and can afford it, there are other that sweat the velue retention because they're either flippers or are spending beyond their ability.

Before you crucify me, I'm in the latter group!