Opinions on a GMT Master II 16710 2007

[JonaG]

Originally Posted by Chilly Coconut

What is the asking price?

$10.8k. I negotiated about 6% lower and I have a few points on their point card from when I bought the explorer, so should get it for $10.1.

I’m going on today to hopefully seal the deal.

I understand it’s on hold but I’ve already told myself if it’s gone to another branch or been sold by staff who didn’t know it was on hold that I won’t get annoyed; just one of those things.

[roro]

Originally Posted by EZANO

Looks like a great example of a 16710. No major blemishes. Any insight into when it was last serviced? That could be one last negotiation tactic. I’ve had mine for 2+ years and love it more every day (and it’s worth more every day!). In a couple years when the price has gone up even more you’ll wish you’d pulled the trigger if you don’t.


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100%. I was just reading an old post from a few years back and the OP was complaining about how $7000 was an exorbitant price for a full set 16710 with the 3136 movement. I should have bought 10 of them back then at that price

[Mezz72]

Originally Posted by Gtecko

that's not true, my 16710 D serial is from Macau and the green tag shows16710BLRO

green tag and the white sticker showing the serial number can be ‘after the fact’ so it doesn’t guarantee anything...

[Gtecko]

So you get your bar code, serial and all printed and stick on a green tag... sure.


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[77T]

Originally Posted by Gtecko

that's not true, my 16710 D serial is from Macau and the green tag shows16710BLRO

Do you recall the country code printed on the warranty papers?


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[Gtecko]

Originally Posted by 77T

Do you recall the country code printed on the warranty papers?


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888


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[Rockrolex]

Originally Posted by 77T

Do you recall the country code printed on the warranty papers?


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I have an all black Y series GMT-II with B&P that I bought new in 2003 for less than 1/3 that price. I wear it whenever I travel (which is quite often). I would definitely go for it.

[77T]

Originally Posted by Gtecko

888


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Thanks

Originally Posted by Rockrolex

I have an all black Y series GMT-II with B&P that I bought new in 2003 for less than 1/3 that price. I wear it whenever I travel (which is quite often). I would definitely go for it.

On the OP’s original question - I think he should consider his feelings if the same GMTs are selling for $2000 less 2 years from now.

I’m not predicting a market collapse - just that the Tornado Charts show enough volatility and uncertainty that something could go wrong.

IMHO, buyers ought to curb their enthusiasm in this heated Rolex 5-digit resale market long enough to probe their psyche. Are you overpaying due to rampant price rises.


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[roro]

Originally Posted by 77T

Thanks







On the OP’s original question - I think he should consider his feelings if the same GMTs are selling for $2000 less 2 years from now.

I’m not predicting a market collapse - just that the Tornado Charts show enough volatility and uncertainty that something could go wrong.

IMHO, buyers ought to curb their enthusiasm in this heated Rolex 5-digit resale market long enough to probe their psyche. Are you overpaying due to rampant price rises.


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When was the last time that happened? As long as I've been following Rolex, prices never seem to have gone down, especially on a popular sports reference like the GMT 16710 and one that's been discontinued. I used to think its a "bubble" myself but it seems to never want to burst!

[SeaAndSky]

Since you’re asking, I don’t think 10k is a fair price. Especially for a watch that is inferior in my opinion to the new references which can be purchased new for the same price or a little less. I have both and I rarely wear my 16710BLRO. My 116710LN has and will accompany me on every work trip until I retire.

[77T]

Originally Posted by roro

When was the last time that happened? As long as I've been following Rolex, prices never seem to have gone down, especially on a popular sports reference like the GMT 16710 and one that's been discontinued. I used to think its a "bubble" myself but it seems to never want to burst!

Interestingly enough, the last time that comes to mind is the bubbleback craze that began in the 90’s before bursting.

You shouldn’t only rely on your personal experience of “as long as I’ve been”...there is historical data worth considering.

Now here is where I should modify my original statement - the dealers asking prices aren’t where you’ll see the data. It is the actual price paid to a personal owner when they must part with a watch to cover an expense in short order.

Remember, the bubbleback owners who held onto their watches didn’t lose a dime. Only those who sold at lower prices lost anything. After any downturn, eventually prices can recover.

The question is if a current 16710 owner who paid these high prices of late can hold fast during any market downturn. Everyone has an opinion.

Warren Buffet said it best:
"The stock market is a device for transferring money from the impatient to the patient." I’d supplant the word “stock” with any noun you wish - in this case, Rolex.



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[DoctorA]

Originally Posted by ltmgeller

Great watch. When its vintage there is always going to be some wear unless it's NOS.

I don’t know if a 2007 is considered “vintage”!! But agree, even for a one year old watch, I’d expect some wear on it

The watch looks nice but price seems a little high to me, especially that the new Pepsi is for less than that, again given that it’s not vintage!

[jenson]

Its good to go, still look neat and on a reasonable offer.

[JonaG]

Originally Posted by SeaAndSky

Since you’re asking, I don’t think 10k is a fair price. Especially for a watch that is inferior in my opinion to the new references which can be purchased new for the same price or a little less. I have both and I rarely wear my 16710BLRO. My 116710LN has and will accompany me on every work trip until I retire.

Well, as you say, your opinion. I personally like both the new models and the pre-ceramic. I figured now would be a good time to get a 16710. I get the irony of a new one costing less but that’s at msrp and try and walk into a boutique and pick one up. It is only “inferior” if you see it that way. The flip lock oyster bracelet is very functional and robust; seems a cliche now to call it a con of the older models.

In the context of my location, 10k was fair to me. Who knows what the market will do in the medium term but I do not intend on selling it.

Thank you for all the replies and I’ve already been wearing it 4 days! I posted an incoming here, very happy with it

https://www.rolexforums.com/showthread.php?t=640348

[SS Oyster]

If it’s a high serial Z, it may have 3186 movement, which commands a much higher price.


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[JonaG]

Originally Posted by SS Oyster

If it’s a high serial Z, it may have 3186 movement, which commands a much higher price.


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Haa...sadly, no. That would be a real find. The GMT hand ‘wobbles’ when I set the hour so I guess a 3185.

[roro]

Originally Posted by 77T

Interestingly enough, the last time that comes to mind is the bubbleback craze that began in the 90’s before bursting.

You shouldn’t only rely on your personal experience of “as long as I’ve been”...there is historical data worth considering.

Now here is where I should modify my original statement - the dealers asking prices aren’t where you’ll see the data. It is the actual price paid to a personal owner when they must part with a watch to cover an expense in short order.

Remember, the bubbleback owners who held onto their watches didn’t lose a dime. Only those who sold at lower prices lost anything. After any downturn, eventually prices can recover.

The question is if a current 16710 owner who paid these high prices of late can hold fast during any market downturn. Everyone has an opinion.

Warren Buffet said it best:
"The stock market is a device for transferring money from the impatient to the patient." I’d supplant the word “stock” with any noun you wish - in this case, Rolex.



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As you said, everyone has an opinion. So the last time it happened was in the 90's on bubble backs? I'd say that's evidence enough for me. The Rolex sports "bubble" is not going to burst anytime soon IMO.