OP Turquoise - Is this odd to anybody?

[chiscott_29]

OK, so I think most people that pay too much attention to this hobby (myself included) see what’s happened with the Rolex OP Turquoise dial (i.e., “Tiffany”).

It still isn’t clear to me what happened literally overnight to put this watch in the low $30k price point. My assumption is the 5711 Tiffany craziness, combined with the discontinuing whispers that always start up as we head into a new year.

Over the past few days, I’ve noticed almost every single gray dealer has an OP Turquoise now available for sale. Of course, they are all asking $32k and above.

I have always defended grays and the secondary market as I think the positives have always outweighed the negatives. But this really looks suspicious to me that this is some sort of coordinated attempt to manipulate the price of a watch. How is it that all of a sudden everybody has one to offer? IG stories and posts are popping up everywhere…

I’m curious what all of you think. Is this just the craziness and reality of what can happen in today’s market? Or, does anybody else suspect this could be some sort of coordinated action to manipulate the prices in the secondary market?

I’m not trying to inflame or create gossip or anything…I am genuinely interested in hearing people’s thoughts.

Happy Holidays to everybody!


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[Pw92676]

I suspect the people got carried away with the 5711 frenzy. How these numbers came in, beats me.

[SaintMickey]

Originally Posted by chiscott_29

OK, so I think most people that pay too much attention to this hobby (myself included) see what’s happened with the Rolex OP Turquoise dial (i.e., “Tiffany”).

It still isn’t clear to me what happened literally overnight to put this watch in the low $30k price point. My assumption is the 5711 Tiffany craziness, combined with the discontinuing whispers that always start up as we head into a new year.

Over the past few days, I’ve noticed almost every single gray dealer has an OP Turquoise now available for sale. Of course, they are all asking $32k and above.

I have always defended grays and the secondary market as I think the positives have always outweighed the negatives. But this really looks suspicious to me that this is some sort of coordinated attempt to manipulate the price of a watch. How is it that all of a sudden everybody has one to offer? IG stories and posts are popping up everywhere…

I’m curious what all of you think. Is this just the craziness and reality of what can happen in today’s market? Or, does anybody else suspect this could be some sort of coordinated action to manipulate the prices in the secondary market?

I’m not trying to inflame or create gossip or anything…I am genuinely interested in hearing people’s thoughts.

Happy Holidays to everybody!


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Christmas...girlfriends and wives must be satisfied or they'll leave you for John Mayer...

[Benzsiam]

I wouldn't pay much attention to the crazy price in secondary market, let the market correct itself with time.

If it's still in production, the price will back down to normal soon.

[Deroya]

anything over MSRP for an OP is a literal joke

[GoingPlaces]

I think this one corrects. Maybe even is the straw. It's an OP.

[Bxtek]

I have heard about a few people who never intended to sell their Tiffany OP, deciding to now sell it because of the hype. Maybe there are lots of people doing the same thing and why you see so many for sale now? Of course, the asking prices are at the top of the mark, but that is their reason for selling.

A number of those watches at greys could be on consignment too. If I owned a 41mm Tiffany, I'd consign it. If it sold at a crazy price, great! If not, I gave it a shot. Nothing ventured nothing gained!

[adawil2002]

MSRP $5900 anything more is just greedy in the $30Ks is criminal.

[GVAZQUEZ]

Originally Posted by Deroya

anything over MSRP for an OP is a literal joke

Agree, look a few 100 bucks ok ; max max max 1k over for need it now gift… but 3x the price no way…


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[Cambo]

Originally Posted by Pw92676

I suspect the people got carried away with the 5711 frenzy. How these numbers came in, beats me.

This

[AK797]

Think of Greys now as newspaper editors, they are always looking for headlines to make sales so they will take and stretch any piece of info they can to get their sales.

[GoingPlaces]

Originally Posted by AK797

Think of Greys now as newspaper editors, they are always looking for headlines to make sales so they will take and stretch any piece of info they can to get their sales.

100%, they react, promote and build up the hype. This one might be too much of a stretch. We'll see.

[chiscott_29]

Originally Posted by Bxtek

I have heard about a few people who never intended to sell their Tiffany OP, deciding to now sell it because of the hype. Maybe there are lots of people doing the same thing and why you see so many for sale now? Of course, the asking prices are at the top of the mark, but that is their reason for selling.

A number of those watches at greys could be on consignment too. If I owned a 41mm Tiffany, I'd consign it. If it sold at a crazy price, great! If not, I gave it a shot. Nothing ventured nothing gained!

I think this is a very thoughtful and objective way to look at it and you bring up some excellent points!


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[Danny83]

Nothing on this planet should be worth more than 3x msrp my AD begged to buy mine back at 20k the other day 3 weeks after they sold it to me

[TswaneNguni]

Originally Posted by chiscott_29

I have always defended grays and the secondary market as I think the positives have always outweighed the negatives.

The positive is they are used watch dealers .
High demand has made them opportunists .Cashing in on a new generations vanity .Well,take them to the cleaners then .Good for you Mr Grey.

So who copied who ? Patek copied Rolex or Rolex copied Patek on the light blue theme.
You be the judge.

Looking at current market pricing on the OP41 ..well,it has nothing to do with the merit of the watch anymore .Its a mad frenzy ...and its not classy.

[Nav01L]

Look, it’s relatively simple:

Nobody saw this Patek/Tiffany thing coming. Thierry said there would be a surprise in the end of the 5711, but none of us would have expected that.

Obviously such an event creates visibility and desirability around this particular color and so, obviously, there was a rush to the OP41.

Now, since this watch has been out for a year and didn’t have that much hype initially, many are in hands of people for whom 30k is a lot of money.

All these people are now storming the fort with their local grey hoping to make a buck.

Conversely, the greys have seen this before, they know which way this watch is going and are happily buying them.

And so every grey has one. Fully normal. You’ll see that once the initial rush pumping all the “civilian” watches into the dealer network will have died down, there will be far less of them around, as the parties paying 30k for them now are more sophisticated and won’t run back into the market with them to make a quick buck. At 30k, either you really need to have one to be seen in, or you make a play for something bigger (which honestly is not beyond reasonable to assume may happen when the ample supply we see now dries up). I can only repeat, just imagine how many 5711s have been made over the years, and yet they trade at the current inflated price all day long. This watch has the potential to do exactly the same and in absolute numbers, there are probably fewer of them out there.

[WatchNutcase]

You'd have to be completely off your rocker to buy that watch at 30k, the value is just so outrageously not there at that price.

[chiscott_29]

Somebody above mentioned about this being the event that triggers a change.

I am very dubious about anything changing because let’s be really honest. Everybody is winning to some degree, except for the people trying to break in. These people are truly expendable right now and quite frankly nobody really cares and it can be brushed off as “I’ll worry about new customers when I have to”. I am not saying I agree with this, I’m just laying it out there on the table.

You can also say the “hobby” is losing but that’s been in progress now for a few years. Society and human beings in general have little capacity in today’s world to concern themselves with such nebulous concepts.

The thing I do wonder is if this will create a backlash against secondary dealers and expose them as “opportunists” as suggested above. That’s a really good question and I have to say this is the first time I am in the camp that says “Yeah, I hope so…”


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[acaixguard]

Originally Posted by Deroya

anything over MSRP for an OP is a literal joke

Exactly!

[HiBoost]

Originally Posted by Danny83

Nothing on this planet should be worth more than 3x msrp my AD begged to buy mine back at 20k the other day 3 weeks after they sold it to me

Well don't forget, the hypebeast that started this, the Tiffany 5711, sold at auction for 130x MSRP. So in this current market, the watch PE ratio still puts this new OP pricing (at around 6-7x) heavily into the "buy" category. If you can't see the value then your loss lolol

[HMHM]

I’m not surprised though. Rolex as a brand is stronger than Patek. And it’s attainable at 30k as compared to 6.5M for a Tiffany Blue 5711. People who want to experience the thrill of a turquoise blue watch have not much options. It’s absurd, but the market is all about supply and demand.

[GoingPlaces]

Originally Posted by chiscott_29

Somebody above mentioned about this being the event that triggers a change.

I am very dubious about anything changing because let’s be really honest. Everybody is winning to some degree, except for the people trying to break in. These people are truly expendable right now and quite frankly nobody really cares and it can be brushed off as “I’ll worry about new customers when I have to”. I am not saying I agree with this, I’m just laying it out there on the table.

You can also say the “hobby” is losing but that’s been in progress now for a few years. Society and human beings in general have little capacity in today’s world to concern themselves with such nebulous concepts.

The thing I do wonder is if this will create a backlash against secondary dealers and expose them as “opportunists” as suggested above. That’s a really good question and I have to say this is the first time I am in the camp that says “Yeah, I hope so…”


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At some point there is typically saturation or exhaustion, in this case likely the latter of the two would be my guess. The issue with the OP is the Tiffany part, it's a grossly exploited inaccuracy. It's turquoise, which IMO helps separate the clued-in from the clueless. I don't remember this much pushback or commentary when Daytona and company started to ascend into the outer regions of the atmosphere. These climbs were far more incremental and took several years. The OP is supposedly on a far more rapid and steeper trajectory all based on hype compounded with shortage/over demand.

Will it continue, who knows, I have been wrong about so much of this watch craze. If the OP does reach stratospheric levels, then we have entered a new dimension with no return. People really have lost their minds.

As for the grey's I never really had an issues, however when they now call it a Tiffany Rolex, it really demonstrates the level they are willing to go to. Does not resonate well with me.

Hobby remains a hobby for many of us still, but we also have an influx of social media flexers that lack the passion for this hobby and want the Rolex for all the wrong reasons IMO.

[173rdabn]

If you pay 32k for a sub 6k retail OP I really don't know how to respond.

[Know1isgod]

If enough people decide they can live without shiny objects, normalcy will return. Small premium is one thing, 2x price and more for any current piece is something else.

[geoffreyis]

I picked up a 36mm OP candy pink dial for my wife last week. Absolutely lovely watch. Its her first Rolex and I was glad to buy it for her and surprise her with it for the holidays.

All that being said, its a very basic Rolex. Not on the level that's my sub or Daytona. I'd love to meet the folks that are paying these secondary prices. I'd assume they would have some level of regret after the fact because it isn't a multiple x of msrp.


Now back to the watches.
Very impressed with what Rolex did with the OP lineup. I'd love the green dial one myself to wear on those days that the sub and Daytona don't get on the wrist.

[bob sims]

Originally Posted by WatchNutcase

You'd have to be completely off your rocker to buy that watch at 30k, the value is just so outrageously not there at that price.

People that bought at 18k were told the same thing.
They look firmly ON their rocker right now.

[Andy355]

My thoughts. I bought one of these at about 2.5x list a couple of months ago Unworn and stickered. Info I got by asking around was ADs are not getting any supply until next year and these are super scarce. More so than a panda daytona I was told. Rolex also won’t swap dials on these. Reason I bought it is the colour, see one in real life and it’s really really nice and distinctive. As to the op41 as a watch it’s very clean and simple. No date doesn't bother me as date is rarely correct on my other ones anyhow. Lastly I think it looks much nicer than the patek, if you see the two together (there are some Instagram shots) the Rolex is a nicer shade. On the Patek I prefer the green and the dark blue. Why is an Andy Warhol or a banksy so expensive - because you instantly recognise what it is. If they discontinue this piece then Rolex effectively gave a nice limited edition to their best customers (appreciate their best customers aren’t always who we would like them to be). I wouldn’t sell mine at current levels, if I am wrong and the hype dies out so be it

[thenewrick]

Same story different day.

People will say time is more valuable than money and will happily pay anything blank check.

Others will scoff that rich people will throw money around.

Sooner people come to terms with this the better. If you have a widget that a rich person wants, name your price and congrats.

[GoingPlaces]

Originally Posted by Andy355

My thoughts. I bought one of these at about 2.5x list a couple of months ago Unworn and stickered. Info I got by asking around was ADs are not getting any supply until next year and these are super scarce. More so than a panda daytona I was told. Rolex also won’t swap dials on these. Reason I bought it is the colour, see one in real life and it’s really really nice and distinctive. As to the op41 as a watch it’s very clean and simple. No date doesn't bother me as date is rarely correct on my other ones anyhow. Lastly I think it looks much nicer than the patek, if you see the two together (there are some Instagram shots) the Rolex is a nicer shade. On the Patek I prefer the green and the dark blue. Why is an Andy Warhol or a banksy so expensive - because you instantly recognise what it is. If they discontinue this piece then Rolex effectively gave a nice limited edition to their best customers (appreciate their best customers aren’t always who we would like them to be). I wouldn’t sell mine at current levels, if I am wrong and the hype dies out so be it

Thanks for the post. Curiously would you pay 35K? What is your cutoff? Legit curious.

[fwhawk]

Originally Posted by Deroya

anything over MSRP for an OP is a literal joke

If that is the case, then frankly you can say the same thing about most Rolex models. Anything over MSRP seems absurd to me for any Rolex except maybe the Daytona. BUT...in a free market anything is worth exactly what someone is willing to pay for it. And that number may be different tomorrow than it is today.