Inventory Piling Up?

[cdubg21]

Originally Posted by Rrpdc

Fine with me, Enjoy your watch. I assume you bought to enjoy, not flip.

100%...have had it several years. Looking to sell to fund another purchase

[djgallo]

Originally Posted by cdubg21

I have had 3 trusted sellers decline a purchase of my 114060 stating they already had several for sale at the current moment. There is nothing otherwise “wrong” with the watch. This leads me to believe inventory might not be moving as quickly. Just something interesting I wanted to share

I’m not surprised. I guess it depends on which grey’s you contacted. There’s not a lot of markup or room to make much on that watch. They may not want to mess with it.

New from AD = 8K with tax
Grey sells it new/unworn = 9 to 9.5K
If your watch is used/worn = market price 7.5K to 8K grey might pay 6K ??

If you bought from an AD You can probably sell it yourself and not lose much money.

[3sheets86]

UK greys are offering significantly less to buy than they were 6 months ago but they aren't offering their watches for sale at a lower price but the watches are hanging around a lot longer.

[AJMarcus]

Originally Posted by cdubg21

I have had 3 trusted sellers decline a purchase of my 114060 stating they already had several for sale at the current moment. There is nothing otherwise “wrong” with the watch. This leads me to believe inventory might not be moving as quickly. Just something interesting I wanted to share

I’d say your probably on to something

[J-rob]

Oh a grey will definitely buy your watch, but you almost certainly will not get the amount you are looking for. They have overhead and they make their money when they buy the watches.

Unless you’re just looking for quick cash, you should sell it yourself.

[cdubg21]

Originally Posted by J-rob

Oh a grey will definitely buy your watch, but you almost certainly will not get the amount you are looking for. They have overhead and they make their money when they buy the watches.

Unless you’re just looking for quick cash, you should sell it yourself.

we never even got to a purchase price. It was a simple “I have a lot of those at the moment, so I’m not looking to buy a right now” which is why I found it particularly interesting

[bezler]

Originally Posted by amh

Another sign. IMO the bubble deflate slowly as greys try to recoup their investments in a saturated market. Things will be normal again a year from now (ie. you'll be able to buy any SS model directly from your AD. But don't expect a discount.)

When things are normal again, expect a discount.

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[mountainjogger]

Originally Posted by DJTOSUB

Why do you want to sell your 114060? And what price?

Trust me - one of the trusted sellers would buy it depending on the price. It all comes down to price.

Exactly.

This post means nothing without hearing the conversation, and knowing OP's, expectations as to price, tone and attitude during the conversation.

I have a hard time believing that any trusted seller would pass up a sub with nothing wrong with it, if the price was right. And the right price to a dealer is wholesale. Which has nothing to do with the price the watch is resold for.

[cdubg21]

Originally Posted by mountainjogger

Exactly.

This post means nothing without hearing the conversation, and knowing OP's, expectations as to price, tone and attitude during the conversation.

I have a hard time believing that any trusted seller would pass up a sub with nothing wrong with it, if the price was right. And the right price to a dealer is wholesale. Which has nothing to do with the price the watch is resold for.

Better believe it. Conversations were as simple as “Hope all is well. Looking to sell my 114060 full set dated xx/xx. Please let me know what other information you need.”

All three declined to make any sort of offer citing too many in inventory ATM

[J.P.Jones]

At this instant there are exactly 350 114060 Submariners No Date with box and papers on Chrono24.

[rushca01]

Just go to crown and caliber’s website and see how many GMT’s they have, especially the 116710 BLNR.

[ratty]

Originally Posted by Tavli3

This is typical of these guys. Anytime you want to sell them something they find the slightest defect to knock your price down even if they need a 60 power loupe to see it.

......


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I'm no fan of dealers but I also don't think some people can have it both ways.

There are people who post on here about how their watch may have a tiny, tiny scratch on it and people reply how the watch is ruined and how their life couldn't go on if their watch was like that!

If these people look at a watch with a loupe and see a scratch and think it is ruined, they then surely can't expect a dealer to pay top money if they sell the same.

[Sublovin]

Here’s the thing. The thriving economy and release of all of these new models (Pepsi, Daytona, Etc) has taken place years ago at this point. Most everyone who has the means and desire to own one of these watches and is willing to pay a premium, has purchased one! I have been saying for years this is not sustainable and the watches will come back to reality, but people keep buying and putting them in the safe thinking they will just keep climbing.
Every grey dealer has enough inventory and the demand is falling in line.

[sillo]

I wouldn't mind a slight correction at this point. It could scare away a lot of the people who got into watches for the wrong reasons ($$$) and leave some of the more unsavory resellers burned and forced to move stuff quick at better prices.

I don't think we'll ever get back to below MSRP sales, but I can see some people getting fatigued by all this nonsense or just getting bored and moving on to the next hyped thing.

[Chaching]

Rolex market is starting to crash …. just wait all you flippers! Glad all mine are for ME only and true watch enthusiast! Think I will sit back and watch all the crying.

[cdubg21]

As long as grays can sell at a big premium over MSRP, the market conditions enable MSRP buyers to make a quick buck, and thus there us immense demand at the AD level. If the movement of gray inventory slows, prices drop, the margins for grays erode, which means they need to buy lower (or not al all) and the margins for MSRP buyers erode. If this downward momentum continues to the point that margins for flippers are “no longer worth the time and effort” I believe we will see demand limited back to people buying from AD’s for personal use. This WILL happen, perhaps it is already starting, but who knows how long the cycle will take to complete.

[Hollie_Rollie]

I just sold my 114060. A trusted grey offered me 7k plus his label. I politely declined and sold it for what I paid for it at msrp and didn’t lose any money on it. I’m not a very big fan of grey dealers in general, never bought anything from them and probably never will given their asking prices.

[Danny83]

Maybe its not worth it for them to only make $300 on it. Take some nice pics sell it on Trf for 7-8K and watch how fast it sells.

[1665fan]

There’s millions of subs out there.....bottom of the sportsline....tell them u have a daytona or Pepsi and see what they say

[904VT]

Originally Posted by 1665fan

There’s millions of subs out there.....bottom of the sportsline....tell them u have a daytona or Pepsi and see what they say

Not true at all imo they are just some of the older 6 digit references that are still in production. So most that want one in current form have already purchased, unlike the D500 and BLRO that have only been offered for a few years now. When the 116610s launched in 2010 they helped reinvigorate demand for Rolex watches after the horrible recession. Tons of GMT Masters and Daytonas are out on the market as well. Only 5 digit Daytonas were somewhat rare.

[Token74]

A grey offered me £6.8k for my 116500 a few months back!! I laughed at them and then sold it for more than twice that.

I don’t know how the industry works, but given the amount of capital they have tied up, they probably have to work on very high margins to make it work.

I’m not convinced the market is slowing up as radically as people think. But I’m no expert and it’s just an opinion.


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[LuminousMaximus]

I feel that the market is slowing and is softening. Many of these sellers can not lower their price because if one does it and others follow, it will confirm a market in decline.

They have to be like Alec Baldwin..."You know what it takes to sell Real Estate...?"

[BBBlue]

Originally Posted by cdubg21

I have had 3 trusted sellers decline a purchase of my 114060 stating they already had several for sale at the current moment. There is nothing otherwise “wrong” with the watch. This leads me to believe inventory might not be moving as quickly. Just something interesting I wanted to share

Lots of Subs out there

[rushca01]

Originally Posted by LuminousMaximus

I feel that the market is slowing and is softening. Many of these sellers can not lower their price because if one does it and others follow, it will confirm a market in decline.

They have to be like Alec Baldwin..."You know what it takes to sell Real Estate...?"

They will cave eventually as bills pile up etc....it will be gradually by it will happen. DavidSW broke sub 15,000 on the 126710 BLNR; baby steps but they will start to fall (my opinion).

[Mandy01]

Originally Posted by Khans14

My point is, if someone is trying to make money through you take everything they say with a grain of salt.

Wise words.[/QUOTE]

completely agree.

[Mandy01]

Originally Posted by Hollie_Rollie

I just sold my 114060. A trusted grey offered me 7k plus his label. I politely declined and sold it for what I paid for it at msrp and didn’t lose any money on it. I’m not a very big fan of grey dealers in general, never bought anything from them and probably never will given their asking prices.

exactly, remember they have to make big margins , I was offered 3 months ago by my Sub C date 9.5k by a grey and was able to sell it myself at almost 11k, try selling it directly and u should 7.5 to 8 k without much problem.

[Roger Lococco]

White 116500 is about $3k off the peak from 2 months ago


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[Calatrava r]

I have been looking for that one new from an AD. Hopefully, will happen soon. Market is clearly cooling off and the buyers who buy just to resell at a profit have lessened.
Not concerned as I think a new model will appear in the spring which may explain the smart money no longer wants this model except at the right "lower" price.

[In-Cog-Neeto]

Time of the year gents

Let’s see what next year holds

It sure ain’t gonna be sudden availability of all models at your local friendly AD (or will it.......)

[T.Stanley]

Originally Posted by cdubg21

As long as grays can sell at a big premium over MSRP, the market conditions enable MSRP buyers to make a quick buck, and thus there us immense demand at the AD level. If the movement of gray inventory slows, prices drop, the margins for grays erode, which means they need to buy lower (or not al all) and the margins for MSRP buyers erode. If this downward momentum continues to the point that margins for flippers are “no longer worth the time and effort” I believe we will see demand limited back to people buying from AD’s for personal use. This WILL happen, perhaps it is already starting, but who knows how long the cycle will take to complete.

This. 100% agreed.