So anyone who bought Rolex Sport from Grey Market 1 years ago lost atleast 20% money?

[trandonnghia92]

Do you guys regret it ?

How long this down trend will be ?

[inadeje]

The plus 20% was a trend. The current times are a return to normalcy.

[10klakes]

The quality remains, while the price is quickly forgotten.

[trandonnghia92]

Originally Posted by 10klakes

The quality remains, while the price is quickly forgotten.

No no no, especially when people get the SAME QUALITY for MUCH LESS Price

Personally I cannot get over it, don't know about you guys :D

[rg9390]

I brought a skydweller on Oysterflex at retail from an AD, and I lost about 20% as they are trading 20% below retail nowadays.

Life goes on, and at least I was offered a Daytona also on Oysterflex at retail - so net, I breakeven.

[ChugachEagle]

Point of your post is?


Almost all of my watches were bought at MRSP, only use grey for discontinued pieces or brands I don’t have relationships with; which is equally as fun and I am glad they are there to fill the holes. But I don’t care what happens after I buy a piece. Don’t give a crap what Chrono24 says. I wear all of my watches and love them. If your watch is a huge part of your net worth, sell it now, buy an i-bond with the proceeds, and consider upgrading or changing your line of work. I would never have even considered buying my first luxury watch if I cared what the after market thought of it.

[Rolexadd]

I did. But I was not planning to sell and am not interested in selling either. Life goes on. I have enjoyed the watch and still am.

[gmtmister]

Originally Posted by trandonnghia92

No no no, especially when people get the SAME QUALITY for MUCH LESS Price

Personally I cannot get over it, don't know about you guys :D

What piece did you buy last year, that keeps you up at night still?

[Andy0331]

Originally Posted by trandonnghia92

Do you guys regret it ?

How long this down trend will be ?

This "down trend" could literally last forever; prior to 2020, very, very few watches appreciated in value and even fewer of those were still in regular production.

Buying a luxury watch should be done in the same manner as buying any other luxury item; the expectation that it loses money & you are paying a premium to enjoy it.

If you want to consider them "investments", I will argue that you haven't lost any money until you sell. Any "profit" you had was only on paper. Now, if you did buy as an investment, with the intention of flipping it for profit, you probably want to realize your loss now, because unless you have something super rare, it's going lower.

[PhilippeD]

Originally Posted by trandonnghia92

Personally I cannot get over it,

Well, then you into the "game" for the wrong reasons mate. Will be a long time before the March '22 prices will be back, if ever.

I assume you paid plenty for your Rolex, so you might as well enjoy it.

[Mr Ben]

Originally Posted by trandonnghia92

No no no, especially when people get the SAME QUALITY for MUCH LESS Price

Personally I cannot get over it, don't know about you guys :D

Hate to say it but come on - if 20% of the price of a watch has any significance whatsoever to your financial position then you couldn’t afford the watch.

Mistake made, life lesson learned - now move on and enjoy it. If you can’t enjoy it, sell it and move on.

[rmagoo57]

Enjoy looking good in the poor house!

[Ironworker]

I’m in the market for a sport watch now, more than likely new, although I think the grey market is insanely high, I won’t mind because I’m looking at something for an heirloom piece to pass down to my son in a few years. Maybe I’m reading the market wrong, but it does seem a little flooded with overpriced watches, I’m patient and not in a rush.

[mountainjogger]

I did not purchase during the increase in market price.

But if I had, I would consider a 20% drop in used list price a good trade for the pleasure of wearing the watch for a year.

For those of us who have been in the hobby a while, we remember loosing this much walking out the door after buying at an AD.

And in my opinion, if a 20% decrease in the list used price of a luxury item has an affect on a person's finances, they should not be making the purchase to begin with.

So, it would not bother me at all.

[Driver8]

Originally Posted by PhilippeD

Well, then you into the "game" for the wrong reasons mate.

Have to say I agree.

For me, any watch purchase is sunk cost. I consider it no more an "investment" than paying for a decent meal out. A watch, like a nice meal, is meant to be enjoyed for what it is IMO.

[Vince_76]

Originally Posted by Driver8

Have to say I agree.

For me, any watch purchase is sunk cost. I consider it no more an "investment" than paying for a decent meal out. A watch, like a nice meal, is meant to be enjoyed for what it is IMO.

Yep. Far better asset classes to invest your money in. Luxury watches are just that - a luxury good

[fsprow]

Originally Posted by trandonnghia92

No no no, especially when people get the SAME QUALITY for MUCH LESS Price

Personally I cannot get over it, don't know about you guys :D

If this bothers you, I suggest staying away from financial markets where one quickly learns that ups and downs are just a part of the way markets function. Trying to time markets is a losing bet, many studies have shown.

[Swiftneck]

I have only sold watches the last year, so it's not an issue for me. I did buy a few before at prices we will properly go below in the future, but I am happy to see prices fall as I will properly have more watches in the future.

My children, who will be the ones caching in on them at some point, might be a bit disappointed, though

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[Tools]

Originally Posted by trandonnghia92

No no no, especially when people get the SAME QUALITY for MUCH LESS Price

Personally I cannot get over it, don't know about you guys :D

You must be young.

Prices (economies) have been going up and down since the introduction of money for goods and services.

This is just another swing in the never-ending economic cycles.

[jgrae]

If you bought tech stocks, on average you'd be down more than that. Context matters.

[train-time]

I guess if you purchased a new Sub 126610LN on the gray market about a year ago you would be out around 20% as of now, but if it was a white dial SS Daytona around the same time, you would be out about 40% or more right now -- ouch!! They were going for $50K or slightly higher and now can be had for under $30K and are still falling!

I recall that dog trainer from Chicago that has a watch vlog predicting the Sub (126610LN to hit $25K by year-end 2022 at the time it was around $18 - 19K and we now know the rest of that story... Haven't heard much from him lately.

[Bxtek]

Back in the day when you bought a new Rolex, you KNEW and were guaranteed that it was going to be worth less down the road. Exactly like driving a brand new car off the lot. Use it for awhile and if you wanted to sell it, you got what you could for a used watch. Shopping pre-owned would always be able to save yourself some money. (Special collectible pieces excluded). Lots of recent and newer watch "collectors" have only experienced values going up, so this downturn can be a real shocker to them.

[train-time]

Originally Posted by Bxtek

Back in the day when you bought a new Rolex, you KNEW and were guaranteed that it was going to be worth less down the road. Exactly like driving a brand new car off the lot. Use it for awhile and if you wanted to sell it, you got what you could for a used watch. Shopping pre-owned would always be able to save yourself some money. (Special collectible pieces excluded). Lots of recent and newer watch "collectors" have only experienced values going up, so this downturn can be a real shocker to them.

Exactly! And this may be where we are headed with special exceptions as you have noted.

[GGGMT]

My entire asset class is going down!!


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[doyall]

Based on the blogs, Tesla purchasers (especially recent ones) feel the same type of burn as well. In these times, it truly is like playing with fire.

[GGGMT]

Originally Posted by doyall

Based on the blogs, Tesla purchasers (especially recent ones) feel the same type of burn as well. In these times, it truly is like playing with fire.

Tsla is gonna rocket huge in 2023. Huge.


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[CaveDweller]

Invest in Crypto - it's safer ...

[ExplorerI]

You could still lose a ton of money buying grey today. I went in to try a VC overseas dual time and a Patek 5712 over the weekend at a big grey. They had a price of 54k on the VC. I’ve seen those go on moda for $24k bnib. The 5712 they had for 120k or something. Seen them go as low as 70-80k complete over the last couple months. If you bought either of those from the grey and wanted to get out of them you’d take a loss in the 10s of thousands of dollars immediately.

[falc]

Originally Posted by CaveDweller

Invest in Crypto - it's safer ...

Is it tho?

[GGGMT]

Originally Posted by GGGMT

Tsla is gonna rocket huge in 2023. Huge.


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But I was right!


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