Good deal for 5711 1A

[GB-man]

Originally Posted by thomaspp

With all do respect the folks who seem shocked don’t seem to have been in this hobby for 10 plus years or having seen 5711s trade for $23k and 5980 1/a trade for $35k...


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If you just got here last few years everything appears to be tits and whisky.

I wish there was a short nautilus etf. I’d put 100k in tomorrow.

[mongrelnomoad]

Originally Posted by tng11

Small anecdote - I was offered a 2017 5990/1A for 64K last week. The dealer without asking has dropped it to 60K within a few days. He also offered me a 5164R at MSRP. The bubble on these historically "Tier 2" pieces (in terms of desirability) has burst.

I love the 5164r. If I was in the market for one, I'd be buying at MSRP.

[BaselWorld]

The rarest around is definately the 5726-014; that one will stay well over retail.

[CHEY]

Originally Posted by tng11

Small anecdote - I was offered a 2017 5990/1A for 64K last week. The dealer without asking has dropped it to 60K within a few days. He also offered me a 5164R at MSRP. The bubble on these historically "Tier 2" pieces (in terms of desirability) has burst.

This is completely on point. There are nautiluses and aquanauts that are currently trading at MSRP or close to MSRP, namely 5726A (strap), 5712G, 5167R and 5164R.

I find no good reason why the damage wouldn't spread to other models. The next on the chopping block will likely be 5164A, 5167A, 5990/1A and then 5712R.

Then if the down market lasts long enough, maybe even 5711/1A and 5712/1A.

One of the most frequent complaints on this forum is the unreasonable pricing of sports Pateks.

Well, guys - we can actually make it happen this time! Just sit on your cash. Don't buy from the grey dealers now. Let's see how long they last.

[mongrelnomoad]

Originally Posted by CHEY

This is completely on point. There are nautiluses and aquanauts that are currently trading at MSRP or close to MSRP, namely 5726A (strap), 5712G, 5167R and 5164R.

I find no good reason why the damage wouldn't spread to other models. The next on the chopping block will likely be 5164A, 5167A, 5990/1A and then 5712R.

Then if the down market lasts long enough, maybe even 5711/1A and 5712/1A.

One of the most frequent complaints on this forum is the unreasonable pricing of sports Pateks.

Well, guys - we can actually make it happen this time! Just sit on your cash. Don't buy from the grey dealers now. Let's see how long they last.

Hope you’re right! Looking for a 5711/2 as I’m pretty sure this too large on my wrist.

[thomaspp]

Originally Posted by tng11

Small anecdote - I was offered a 2017 5990/1A for 64K last week. The dealer without asking has dropped it to 60K within a few days. He also offered me a 5164R at MSRP. The bubble on these historically "Tier 2" pieces (in terms of desirability) has burst.

Good info... I hear 116500 white dials are being offered to buy by dealers at 15k now.. crazy how quick things change

Originally Posted by GB-man

If you just got here last few years everything appears to be tits and whisky.



I wish there was a short nautilus etf. I’d put 100k in tomorrow.

Hahaha yes...




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[offrdmania]

Originally Posted by thomaspp

Good info... I hear 116500 white dials are being offered to buy by dealers at 15k now.. crazy how quick things change




Hahaha yes...




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And which dealers might this 15K be coming from? They are still over 20 everywhere that I have come across new and used.

[tng11]

Originally Posted by offrdmania

And which dealers might this 15K be coming from? They are still over 20 everywhere that I have come across new and used.

That’s what they’re buying for, not selling price.

Another poster here on TRF has said he got offered 19K for black 116500 a few months ago and now the same dealers are offering 12K or refusing to buy at all. DSW now has black 116500 priced below 20K and he’s normally on the high end of pricing.

[Bearxj86]

Market on both have dropped about 20%

Panda Daytona around 20 and Black around 18 - mint, add about $1000 for new
5711 blues still in mid to low 50s depending on condition

[HMHM]

Just be patient at this point. It hasn’t reached the bottom yet. People’s priorities might change once recession hits... perhaps there will be less hype around certain watches which would allow true watch collectors a chance to purchase their desired watch without losing an arm and a leg.

It’s also a good time to weed out those arrogant ADs who were thinking that good times will last forever. Remember all those arm twisting that these ADs forced upon customers? All those bundling nonsense, rude replies, backdoor selling to greys...

We should not support greys too even though they lower their prices as they try to get rid of the pieces they have in hand. If not, the cycle will repeat again in the future. Once those flippers and greys experienced significant losses, hopefully in the future situations like FAKE WAITING LIST will not occur again. Once bitten twice shy right?

[chiscott_29]

Make no mistake this will play out on the buy side first. I’m sure offers from dealers are down huge already. The sale prices will take another month or two I think to get really attractive as that’s when reality will set in.

I’ve had my eye on a 5164r and contemplated offering slightly less than MSRP + Tax. I think it’s best to just wait...and hope for very close to MSRP.

[chmhill]

Hope to see 5726a14 near Retail price

[GB-man]

Originally Posted by chiscott_29

Make no mistake this will play out on the buy side first. I’m sure offers from dealers are down huge already. The sale prices will take another month or two I think to get really attractive as that’s when reality will set in.

I’ve had my eye on a 5164r and contemplated offering slightly less than MSRP + Tax. I think it’s best to just wait...and hope for very close to MSRP.

Wouldn’t be surprised if you can get one below msrp preowned soon.

[CHEY]

Originally Posted by chiscott_29

Make no mistake this will play out on the buy side first. I’m sure offers from dealers are down huge already. The sale prices will take another month or two I think to get really attractive as that’s when reality will set in.

I’ve had my eye on a 5164r and contemplated offering slightly less than MSRP + Tax. I think it’s best to just wait...and hope for very close to MSRP.

Lets make it happen!

[CHEY]

Originally Posted by HMHM

Just be patient at this point. It hasn’t reached the bottom yet. People’s priorities might change once recession hits... perhaps there will be less hype around certain watches which would allow true watch collectors a chance to purchase their desired watch without losing an arm and a leg.

It’s also a good time to weed out those arrogant ADs who were thinking that good times will last forever. Remember all those arm twisting that these ADs forced upon customers? All those bundling nonsense, rude replies, backdoor selling to greys...

We should not support greys too even though they lower their prices as they try to get rid of the pieces they have in hand. If not, the cycle will repeat again in the future. Once those flippers and greys experienced significant losses, hopefully in the future situations like FAKE WAITING LIST will not occur again. Once bitten twice shy right?

Yes, let the arrogant dealers and greys hurt.

Sorry if I come off as too negative. I know I do. But thats only because of the terrible attitudes displayed by these dealers and greys over the years and its payback time.

[Russell996]

Originally Posted by CHEY

Yes, let the arrogant dealers and greys hurt.

Sorry if I come off as too negative. I know I do. But thats only because of the terrible attitudes displayed by these dealers and greys over the years and its payback time.

There are many excellent AD's and grey dealers (the vast majority), just because you have had a bad experience don't tarnish them all with the same brush. They are businesses with employees who all have families and now face an uncertain future like the rest of us - have a little more decorum.

[sgwatchguy]

Originally Posted by Russell996

There are many excellent AD's and grey dealers (the vast majority), just because you have had a bad experience don't tarnish them all with the same brush. They are businesses with employees who all have families and now face an uncertain future like the rest of us - have a little more decorum.

+1

And I guess >50% of those badmouthing AD’s and greys will be the first to rush their stores at the hint of a good deal.


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[Jamesd20]

The good will out. Good ADs who didn’t play games will be fine, good dealers who didn’t hoard and stock large inventories and not sell to raise prices will be fine, as they just make the margin on market price.

It’s the ADs boosting sales by selling direct to greys, and the greys who hoarded and bought at high prices who will suffer most.

[CHEY]

Originally Posted by Russell996

There are many excellent AD's and grey dealers (the vast majority), just because you have had a bad experience don't tarnish them all with the same brush. They are businesses with employees who all have families and now face an uncertain future like the rest of us - have a little more decorum.

Thanks, Russell. Point taken. Good on you for calling out my negative post. Indeed, my intention was not to suggest that all dealers are bad and arrogant. Sincere apologies for not being clear

That being said, I cannot in good conscience describe grey dealers who, for example, continue to ask for US$70,000+ for a 5712R in this market (or other ridiculous pricing), as "excellent." This includes a number of the supposedly trusted dealers on the TRF "For Sale" forums.

They are supposed to be trusted dealers, but they continue to try to sell pieces at way above prevailing market prices and to perpetuate such grossly inflated pricing. Dealers who do not offer fair pricing are simply NOT "excellent", regardless of how otherwise excellent their services may be. Unfortunately, many trusted dealers on TRF fall into this bucket.

Sure, they absolutely have the freedom to ask for whatever prices they wish, but I also have my own freedom to call them out when they do so. When they ask for sky high prices that are considerably above market, my view is that they cease to be excellent dealers. I don't think that this is an unreasonable view.

[Rolexavidfan]

Originally Posted by CHEY

This is completely on point. There are nautiluses and aquanauts that are currently trading at MSRP or close to MSRP, namely 5726A (strap), 5712G, 5167R and 5164R.

I find no good reason why the damage wouldn't spread to other models. The next on the chopping block will likely be 5164A, 5167A, 5990/1A and then 5712R.

Then if the down market lasts long enough, maybe even 5711/1A and 5712/1A.

One of the most frequent complaints on this forum is the unreasonable pricing of sports Pateks.

Well, guys - we can actually make it happen this time! Just sit on your cash. Don't buy from the grey dealers now. Let's see how long they last.

One thing I would abstain from doing is wishing for the sky to fall.


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[321Forever]

Originally Posted by CHEY

Thanks, Russell. Point taken. Good on you for calling out my negative post. Indeed, my intention was not to suggest that all dealers are bad and arrogant. Sincere apologies for not being clear

That being said, I cannot in good conscience describe grey dealers who, for example, continue to ask for US$70,000+ for a 5712R in this market (or other ridiculous pricing), as "excellent." This includes a number of the supposedly trusted dealers on the TRF "For Sale" forums.

They are supposed to be trusted dealers, but they continue to try to sell pieces at way above prevailing market prices and to perpetuate such grossly inflated pricing. Dealers who do not offer fair pricing are simply NOT "excellent", regardless of how otherwise excellent their services may be. Unfortunately, many trusted dealers on TRF fall into this bucket.

Sure, they absolutely have the freedom to ask for whatever prices they wish, but I also have my own freedom to call them out when they do so. When they ask for sky high prices that are considerably above market, my view is that they cease to be excellent dealers. I don't think that this is an unreasonable view.

I have no objections to folks expressing their frustration over the situation we have all been in for the past 5+ years. Trusted Sellers doesn't mean competitive pricing. Realtors want to sell houses fast for the highest price, typically. It's not exactly fair. Fundamentally, the Houses, ADs and greys system works fine for them, fine for some customers, and for the rest it's not so great. Trusted Sellers are those who accurately describe the product, have inventory etc. How they get their items, how the price their items...that's not exactly baked into the name.

[Commonproject]

Originally Posted by CHEY

Thanks, Russell. Point taken. Good on you for calling out my negative post. Indeed, my intention was not to suggest that all dealers are bad and arrogant. Sincere apologies for not being clear

That being said, I cannot in good conscience describe grey dealers who, for example, continue to ask for US$70,000+ for a 5712R in this market (or other ridiculous pricing), as "excellent." This includes a number of the supposedly trusted dealers on the TRF "For Sale" forums.

They are supposed to be trusted dealers, but they continue to try to sell pieces at way above prevailing market prices and to perpetuate such grossly inflated pricing. Dealers who do not offer fair pricing are simply NOT "excellent", regardless of how otherwise excellent their services may be. Unfortunately, many trusted dealers on TRF fall into this bucket.

Sure, they absolutely have the freedom to ask for whatever prices they wish, but I also have my own freedom to call them out when they do so. When they ask for sky high prices that are considerably above market, my view is that they cease to be excellent dealers. I don't think that this is an unreasonable view.

"Priced to fly" - that's how you know it's going to be overpriced