Daytona prices are softening

[gramo]

Hi all, I hope everyone is keeping safe, I have been sat at home (UK) bored reading all the excellent post from you all, mainly post regarding prices of watches in the near future,

So I thought I would contact the main grey dealer in the UK to see what they would pay for the following watches 1, 2020 SS Daytona White Dial, 2, 2020 Daytona Yellow Gold Green Dial, I picked these two watches as I know they are hard to get watches and would get a better indication were prices are.

1 2020 SS Daytona White Face had a Estimate of £12500 to £13000

2 2020 Daytona Yellow Gold Green Dial had a Estimate of £22000 to £23000

Being this year watches I will presume older watches would be a less estimate.

I believe the prices have softened and would be interested in all of your thoughts.

[tng11]

Looking back at my emails, on February 18th WF bid me 16.4-16.9 GBP for black 116500LN. Around the same time they offered 8,750 GBP for BLRO.

They have way too much inventory that they bought at sky high prices and aren’t moving. They paid me 66K GBP for a 5712 back in September which is still sitting on their site and I’ve seen other greys in the UK ask way less than that.

[mr_gray]

so 15,400 USD for the SS Daytona and 27,000 USD for the green dial.

on c24 prices are about 22.5k and 45k respectively.

i have recently sold my own rolex watches to a 2nd hand watch merchant. i know that the $ you get offered is confronting for anyone who spends time on c24. but still this staggers.

offer 27k for a watch and 20k spread to c24 price. it seems that these buyers feel a pm seller has fewer options to sell and so the offer is particularly horrifying.

if anything i'm impressed by the lesser margin on the ss daytona but i suppose thats high volume. and also most owners of that watch would be fairly horrified to hear a number starting with 1 let alone $15k.

i am not, however, sure these numbers indicate a particularly distressed market. just the gut wrenchingly low prices these people offer watch enthusiasts every day :-)

[Zoran]

Originally Posted by tng11

Looking back at my emails, on February 18th WF bid me 16.4-16.9 GBP for black 116500LN. Around the same time they offered 8,750 GBP for BLRO.

They have way too much inventory that they bought at sky high prices and aren’t moving. They paid me 66K GBP for a 5712 back in September which is still sitting on their site and I’ve seen other greys in the UK ask way less than that.

Man those are some serious prices! 66K GBP for a 5712? I was happy to get 30K Euro for mine when I traded it in back in 2017
You are at good side of that deal so I am very happy for you! I don't see them selling it close to what they gave you

[Goochy]

Its a big, big risk for dealers to be buying anything in these uncertain times, most are sitting on a ton of stock for which they paid good money in a rising market. The prices seem fair to me bearing in mind they have no idea where the market might be in the future. You mention the Daytona as being hard to get but they are plentiful, you could buy 50 today if you were prepared to pay the asking price.

[SkyJuice]

Theres another thread that tracks the softening price.

[tng11]

Originally Posted by Zoran

Man those are some serious prices! 66K GBP for a 5712? I was happy to get 30K Euro for mine when I traded it in back in 2017
You are at good side of that deal so I am very happy for you! I don't see them selling it close to what they gave you

Indeed, I'll admit it was almost dumb luck I seem to have caught the peak. Now it's a couple of days from being out of warranty, they'd be lucky to get even 60K USD for it in today's market IMO.

[Sandpit]

Offered prices by greys will just be to take advantage of desperate private sellers cashing in or panic selling.

[tng11]

Originally Posted by mr_gray

so 15,400 USD for the SS Daytona and 27,000 USD for the green dial.

on c24 prices are about 22.5k and 45k respectively.

i have recently sold my own rolex watches to a 2nd hand watch merchant. i know that the $ you get offered is confronting for anyone who spends time on c24. but still this staggers.

offer 27k for a watch and 20k spread to c24 price. it seems that these buyers feel a pm seller has fewer options to sell and so the offer is particularly horrifying.

if anything i'm impressed by the lesser margin on the ss daytona but i suppose thats high volume. and also most owners of that watch would be fairly horrified to hear a number starting with 1 let alone $15k.

i am not, however, sure these numbers indicate a particularly distressed market. just the gut wrenchingly low prices these people offer watch enthusiasts every day :-)

WF has been all over the map in the past, but in my experience they've made very high offers on in-demand pieces, with correspondingly high asking prices. In 2019 I sold a few pieces to them at or higher than what US grey dealers were selling for.

[JonaG]

Delete

[gramo]

Originally Posted by tng11

WF has been all over the map in the past, but in my experience they've made very high offers on in-demand pieces, with correspondingly high asking prices. In 2019 I sold a few pieces to them at or higher than what US grey dealers were selling for.

I agree with the above, the question is what would grays pay today for the same two watches but older watches like 2016 or 2017 year, 10k for SS and 20k Yellow Gold?

[joli160]

Originally Posted by Sandpit

Offered prices by greys will just be to take advantage of desperate private sellers cashing in or panic selling.

I don't see Rolex or Patek owners as desperate sellers and if they are never should have bought luxury jewellery in the first place

[Andad]

I am interested to know the actual price paid when the watch and the money changes hands?

Instead of an imaginary scenario?

Anyway the Daytona you offered them had some scuffs and needed a service?

[Xerxes77]

Originally Posted by joli160

I don't see Rolex or Patek owners as desperate sellers and if they are never should have bought luxury jewellery in the first place

You have right Rolex and Patek owners!!

But Rolex and Patek flippers are desperate for sure!!!

[Sandpit]

Originally Posted by joli160

I don't see Rolex or Patek owners as desperate sellers and if they are never should have bought luxury jewellery in the first place

They never should, but they did. There will be desperate sellers. Perhaps not patek - but that brand isn't the topic here.

Times were great before all this. Cheap debt, cheap mortgages (back to the good old 95% mortgage days), record stock market prices, businesses booming. There was no accounting for a global pandemic.

But yes, I agree. One should not purchase such things if one can't afford them. Sadly, with the recent trend of people being impatient and wanting to show off - that's exactly what's happened. Many many people will have overstretched themselves.

[MAINEZX10]

Originally Posted by sandpit

offered prices by greys will just be to take advantage of desperate private sellers cashing in or panic selling.

+1

[3sheets86]

I have an email from Watchfinder from Nov 12th 2019 offering £20,500-21,000 for a new white Daytona but this had dropped to £17-17,500 Feb 3rd. Corona hadn’t really had an effect on the UK’s buying habits by early Feb IMO so I think they’ve been well over stocked for quite sometime.
If I could get one for 12k I’d probably buy it!

[Zoran]

Originally Posted by joli160

I don't see Rolex or Patek owners as desperate sellers and if they are never should have bought luxury jewellery in the first place

I agree, but the real watch lovers and collectors as found on this forum might behave this way.
However, the flippers have outweighed the real buyers in the past years in my opinion. Rolex became the most popular watch no one wanted to keep

People who have the Daytona for example today know what they could have gotten over msrp but they bought it for the love of the watch, not the quick resale.
Having said that, knowing you can bank 30K on a 5712 over retail puts many of us on the edge. In the end it's just a watch!

[tng11]

Originally Posted by Zoran

I agree, but the real watch lovers and collectors as found on this forum might behave this way.
However, the flippers have outweighed the real buyers in the past years in my opinion. Rolex became the most popular watch no one wanted to keep

People who have the Daytona for example today know what they could have gotten over msrp but they bought it for the love of the watch, not the quick resale.
Having said that, knowing you can bank 30K on a 5712 over retail puts many of us on the edge. In the end it's just a watch!

I loved the 5712 very much. I hope to own it again soon. I would buy it again if I lost 5K in value the next day like the old days. The opportunity cost of not selling became too real for me when I considered what other watches I could buy with the money. It was 40K nice but not 80K nice. That could get you a perpetual calendar chronograph from PP or ALS. I ended up buying a Lange 1815 Chronograph, which was basically free after selling the 5712. That was an opportunity that would have been ridiculous to pass up.

[Chester01]

Listen, there is a difference here in what gray dealers will buy for and what they will sell for. They will try even harder to mark up the daytonas and most desirable models to make their but as things soften. The real deals will be had at AD’s where grays are not in a buying spree and AD’s are brick and mortar and need to pay rent. Plenty of incoming posts here the past few weeks. Contact tour AD’s let them know what you’re looking for and there may be something in the vault real soon.

[gramo]

Originally Posted by Chester01

Listen, there is a difference here in what gray dealers will buy for and what they will sell for. They will try even harder to mark up the daytonas and most desirable models to make their but as things soften. The real deals will be had at AD’s where grays are not in a buying spree and AD’s are brick and mortar and need to pay rent. Plenty of incoming posts here the past few weeks. Contact tour AD’s let them know what you’re looking for and there may be something in the vault real soon.

I disagree with your first sentence, I have been in sales for over 40 years and sellers/customers will not sell there goods to you when you offer them £12500 for there watch and you are selling the same item for £25k plus, twelve and half thousand pound profit. it just does not work in sales.

[P2725TMB]

Originally Posted by 3sheets86

I have an email from Watchfinder from Nov 12th 2019 offering £20,500-21,000 for a new white Daytona but this had dropped to £17-17,500 Feb 3rd. Corona hadn’t really had an effect on the UK’s buying habits by early Feb IMO so I think they’ve been well over stocked for quite sometime.
If I could get one for 12k I’d probably buy it!

I was talking to the manager of one of the WF stores in December and he said they had over 80 Daytonas on their books. I supect they will still have most of those now.

[dmash]

Originally Posted by tng11

I loved the 5712 very much. I hope to own it again soon. I would buy it again if I lost 5K in value the next day like the old days. The opportunity cost of not selling became too real for me when I considered what other watches I could buy with the money. It was 40K nice but not 80K nice. That could get you a perpetual calendar chronograph from PP or ALS. I ended up buying a Lange 1815 Chronograph, which was basically free after selling the 5712. That was an opportunity that would have been ridiculous to pass up.

Didn’t you buy the black one? I just posted that watch in the ‘what watch beside Rolex would you buy’ thread. Absolute stunner, from the front AND back.

[Zoran]

Originally Posted by tng11

I loved the 5712 very much. I hope to own it again soon. I would buy it again if I lost 5K in value the next day like the old days. The opportunity cost of not selling became too real for me when I considered what other watches I could buy with the money. It was 40K nice but not 80K nice. That could get you a perpetual calendar chronograph from PP or ALS. I ended up buying a Lange 1815 Chronograph, which was basically free after selling the 5712. That was an opportunity that would have been ridiculous to pass up.

Man I feel exactly the same. You did very good and it was a wise move.
That ALS is perhaps even a better looking watch, even more now that it's free

[gramo]

Originally Posted by 3sheets86

I have an email from Watchfinder from Nov 12th 2019 offering £20,500-21,000 for a new white Daytona but this had dropped to £17-17,500 Feb 3rd. Corona hadn’t really had an effect on the UK’s buying habits by early Feb IMO so I think they’ve been well over stocked for quite sometime.
If I could get one for 12k I’d probably buy it!

So a a £8000 drop from November 2019 price to April 2020 price for a SS Daytona-Wow

[Chester01]

Originally Posted by gramo

I disagree with your first sentence, I have been in sales for over 40 years and sellers/customers will not sell there goods to you when you offer them £12500 for there watch and you are selling the same item for £25k plus, twelve and half thousand pound profit. it just does not work in sales.

You can disagree all you like, it’s fact. I have been into watches since the 1980’s and whenever I sell one, I am offered lower than they are currently selling the same for. This is how profit works. Now, you can disagree over the divide between what’s offered and what it is sold at. But, you can prove your point if you can kindly send me a link to a Daytona being sold for 12500.


Sent from my iPhone using Tapatalk

[gramo]

Originally Posted by Chester01

You can disagree all you like, it’s fact. I have been into watches since the 1980’s and whenever I sell one, I am offered lower than they are currently selling the same for. This is how profit works. Now, you can disagree over the divide between what’s offered and what it is sold at. But, you can prove your point if you can kindly send me a link to a Daytona being sold for 12500.


Sent from my iPhone using Tapatalk

I never confirmed a Daytona sold for £12500, if a grey is offering to buy a watch for £12500 (first post) and the same gray is selling the same watch/year for £25000 customers will not sell to you due to the very large amount what the gray is offering and selling the same watch for. its all about the first mind set, ie you look at the grays website to see what they are selling the same watch for before you offering them the watch.

[tng11]

Originally Posted by dmash

Didn’t you buy the black one? I just posted that watch in the ‘what watch beside Rolex would you buy’ thread. Absolute stunner, from the front AND back.

Indeed! The pictures do not do the front or back justice. It is an amazing watch in the mid to high 30K range pre-owned, right in the full PM Daytona range. Sure you might take a bath again if you move it, but no one buys ALS for value retention.

[dmash]

Originally Posted by Zoran

Man I feel exactly the same. You did very good and it was a wise move.
That ALS is perhaps even a better looking watch, even more now that it's free

That ALS IS a better looking watch, haha.

I’m a fanboy of it though, it’s my top 5 of all time

[dmash]

Originally Posted by tng11

Indeed! The pictures do not do the front or back justice. It is an amazing watch in the mid to high 30K range pre-owned, right in the full PM Daytona range. Sure you might take a bath again if you move it, but no one buys ALS for value retention.

It’s a grail piece my friend, wear it in good health. Only WIS know how amazing it is too, a bit of a ‘sleeper’.