ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
23 May 2018, 09:25 AM | #1 |
Banned
Join Date: Dec 2014
Location: NYC
Posts: 281
|
What the heck happened to 57xx prices?
I used to be a regular here up until last year around November. Back then, 5711 was selling for $25K, and 5712 for $35K. Now it appears that prices have nearly doubled?!?!
I know there were Patek retail price increases but what drove the rest of this? |
23 May 2018, 09:46 AM | #2 |
TRF Moderator & 2024 DATE-JUST41 Patron
Join Date: Dec 2007
Real Name: Ken
Location: SW Florida
Watch: One on my wrist.
Posts: 63,401
|
In November 5711’s were selling in $37K plus range. They haven’t been in $25k range in a long time. Also new US retail price is $29,800 after price increase.
__________________
SPEM SUCCESSUS ALIT |
23 May 2018, 09:53 AM | #3 |
"TRF" Member
Join Date: Aug 2011
Real Name: Josh
Location: Lost in time
Watch: Me Nae Nae
Posts: 9,821
|
What the heck happened to 57xx prices?
Many ADs are getting one, maybe 2 of each 5711/2 per year with a waitlist in the double digits. Add in a 20% a price increase and you have a 50k 5711 and a 55k 5712
Sent from my iPhone using Tapatalk
__________________
"Sometimes the songs that we hear are just songs of our own." -Jerome J. Garcia, Robert C. Hunter |
23 May 2018, 11:22 AM | #4 | |
Banned
Join Date: Dec 2014
Location: NYC
Posts: 281
|
Quote:
https://www.rolexforums.com/showthread.php?t=554822 https://www.rolexforums.com/showthread.php?t=530613 |
|
23 May 2018, 11:37 AM | #5 |
2024 Pledge Member
Join Date: Jan 2018
Real Name: Michael
Location: Dotonbori
Watch: Mostly blue dials
Posts: 7,625
|
The rappers are buying all the 5711 for busting down.
|
23 May 2018, 11:42 AM | #6 | |
"TRF" Member
Join Date: Aug 2011
Real Name: Josh
Location: Lost in time
Watch: Me Nae Nae
Posts: 9,821
|
Quote:
I guess the entire high end market is up in general. Rolex, AP, PP stainless models across the board are up. I think production even on the nautilus is at an all time low. And MSRP was raised by 20%. Or maybe I’m just trying to justify my own recent purchase, even though it was at MSRP. Sent from my iPhone using Tapatalk
__________________
"Sometimes the songs that we hear are just songs of our own." -Jerome J. Garcia, Robert C. Hunter |
|
23 May 2018, 01:01 PM | #7 |
"TRF" Member
Join Date: Aug 2011
Location: usofmfa
Posts: 3,157
|
To paraphrase: let them rock annual calendar chronographs!
__________________
Instagram: soundsoserious |
23 May 2018, 01:53 PM | #8 |
"TRF" Member
Join Date: Nov 2015
Real Name: Charlie
Location: Miami
Posts: 1,534
|
Yes its ridiculous.
|
23 May 2018, 03:06 PM | #9 | |
"TRF" Member
Join Date: Apr 2015
Location: Houston
Posts: 17,622
|
Quote:
... now they know people will pay 50k
__________________
Instagram: tyler.watches current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition) |
|
23 May 2018, 10:59 PM | #10 |
2024 Pledge Member
Join Date: Feb 2010
Real Name: Neil
Location: UK
Watch: ing ships roll in
Posts: 59,237
|
It got Daytona-ed.
|
23 May 2018, 11:53 PM | #11 |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,146
|
I am avoiding buying watches that are part of a feeding frenzy. One recession away from a fire sale (2020?). Sorry to be negative.
|
24 May 2018, 12:38 AM | #12 |
"TRF" Member
Join Date: Mar 2017
Location: California
Watch: 26420RO
Posts: 448
|
I chatted with 2 local dealers and they both refused to even take orders for any Nautilus. Ridiculous. The answer is simply "No." No waitlists, no deposits, just no. And at one of the dealers I have purchased 2 PPs and a Rolex already.
|
24 May 2018, 12:40 AM | #13 |
"TRF" Member
Join Date: Jun 2017
Location: Los Angeles
Watch: 3970
Posts: 3,801
|
Ultimately the 5711 is such an iconic watch and not only collectors love it but celebrities love it. From Aurel Bacs to NBA players to rappers icing them (and reducing the number with the original look). None of these folks are that price sensitive so while a recession might cause the prices to drop a bit, long-term I do not see these prices dropping below $40k; that is just me. It's actually getting harder and not easier to get.
You add to that the Patek brand name; and the fact that it is probably the most versatile watch in existence (Dressier than a sub, and sporty enough for casual wear), I am not sure this will change. God forbid it gets discontinued and another model comes in too. |
24 May 2018, 01:48 AM | #14 |
Banned
Join Date: Aug 2006
Location: usa
Posts: 1,601
|
I know most of the posters on the forum are longer-term PP owners...
But I am new to the brand and the Nautilus (not even necessarily 5711 but possibly 5712 or 5990) is a logical/appealing place for me to start... Not even being able put a deposit down or be waitlisted (even for delivery years from now) makes it incredibly challenging to get a NIB Nautilus9Lets leave pre-owned out of this, for now)... What would folks here suggest - determine if willing to pay the market premium and suck it up and go trusted seller route? |
24 May 2018, 01:52 AM | #15 | |
"TRF" Member
Join Date: Apr 2015
Location: Houston
Posts: 17,622
|
Quote:
__________________
Instagram: tyler.watches current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition) |
|
24 May 2018, 03:09 AM | #16 | |
Banned
Join Date: Apr 2012
Location: UK
Posts: 4,345
|
Quote:
|
|
24 May 2018, 03:14 AM | #17 |
"TRF" Member
Join Date: Apr 2015
Location: Houston
Posts: 17,622
|
yeah, and because of the price its harder to move anyway on the secondary market. Thats the easiest to get i think too however its highly dependent on the AD/location as they are not getting very many. The salon says like 5 years of a wait.
__________________
Instagram: tyler.watches current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition) |
24 May 2018, 03:26 AM | #18 | ||
Banned
Join Date: Aug 2006
Location: usa
Posts: 1,601
|
Quote:
I am curious though, were you asking about interest in other (PP?) pieces because: - purchasing other pieces would, among other things, foster an AD relation that may get me higher on a pecking order (relative to so many other buyers I imagine I would not really be able to compete on this basis) OR - build out/focus on other aspects of the collection in the hopes that availability of these particular pieces changes in the future? Quote:
The AD’s i have tried (ie they will not even take names or deposits)... you are right that the premium on the 5990 on the secondary market seems much lower than the 5711/5712, so not quite as bitter a pill to swallow if i have to go the secondary route. One of the troubling things for me going thru a reseller is im just not building any equity with a dealer...and so will be in the same position years from no (ie no access to PP desirable pieces at reasonable retail prices from a dealer)...to my point above, however, maybe that is delusional because in the AD grand scheme of things perhaps my buying a PP piece here and there still wont result in any meaningful equity compared to others that have bought many more and want those same future desriable pieces i might. |
||
24 May 2018, 03:30 AM | #19 | |
"TRF" Member
Join Date: Aug 2011
Real Name: Josh
Location: Lost in time
Watch: Me Nae Nae
Posts: 9,821
|
Quote:
__________________
"Sometimes the songs that we hear are just songs of our own." -Jerome J. Garcia, Robert C. Hunter |
|
24 May 2018, 03:39 AM | #20 | |
"TRF" Member
Join Date: Apr 2015
Location: Houston
Posts: 17,622
|
Quote:
A. I don't think the situation is sustainable so availability might change anyway in the future so I would not try to plan too much around whats going on right now B. Yeah, other PP pieces. For example if your plan was to add a 5164 anyway in the future i would get that first. Its easier to get and also the aquanaut chronograph is the one everyone is trying to get this year so i think its going to make the 64 easier to obtain. Then you have some additional purchase history which will help. It only works if you were going to get that watch anyway. Just an example.
__________________
Instagram: tyler.watches current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition) |
|
24 May 2018, 04:06 AM | #21 | |
Banned
Join Date: Aug 2006
Location: usa
Posts: 1,601
|
Quote:
I am pretty partial to Nautilus (at least without major step-up in price to something like a 5070, which i am not quite ready to do) but the 5164 is actually probably the only aquanaut piece that has interested me from time to time...i dont think i want it ‘enough, tho |
|
24 May 2018, 04:07 AM | #22 | |
Banned
Join Date: Aug 2006
Location: usa
Posts: 1,601
|
Quote:
|
|
24 May 2018, 04:29 AM | #23 | |
"TRF" Member
Join Date: Apr 2016
Location: North Carolina
Watch: Rolex AP Patek
Posts: 659
|
Quote:
Forgive me if I'm being naive, but I thought the prevailing sentiment was that the best way to safeguard against this was to: a) never buy over retail b) stick to Patek and Rolex Furthermore, I'd love people to comment on a few assumptions I hear people usually making: 1. The Patek market in general is more insulated against macro ebbs and flows, therefore your money is safer than say it would be in a baseline SS Rolex Sub/GMT. etc. 2. Related to above, given the assumed insulation, a "firesale" of Pateks is way less likely than a "firesale" of pretty much any other brand or model. If the poster is saying that he's staying away from "feeding frenzy" watches because he doesn't like paying a premium, I totally agree. I guess you could say that the new 5711/12 retail price has priced in some of that "feeding frenzy" and that those prices aren't really at equilibrium. However, it seems like paying retail for DaytonaC's and 5711/5712s is about as safe as you could possibly get in the watch market, even if a large recession were to come about. Interested to hear people's thoughts on this. |
|
24 May 2018, 04:48 AM | #24 |
Banned
Join Date: Apr 2012
Location: UK
Posts: 4,345
|
Recently Blowers had one listed for £47000 and it was sold within few weeks.
|
24 May 2018, 05:08 AM | #25 |
"TRF" Member
Join Date: Apr 2016
Location: North Carolina
Watch: Rolex AP Patek
Posts: 659
|
I'd be interested to see 2009 retail and secondary market price data for the following watches:
SS Speedmaster SS Datejust SS Sub SS Daytona SS Royal Oak SS 5711 |
24 May 2018, 05:10 AM | #26 | |
2024 Pledge Member
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 36,864
|
Quote:
Safest watch to buy today that’s easy for average joe to obtain, imho is an SS sub date at retail.
__________________
|
|
24 May 2018, 05:15 AM | #27 | |
Banned
Join Date: Aug 2006
Location: usa
Posts: 1,601
|
Quote:
|
|
24 May 2018, 05:15 AM | #28 | |
"TRF" Member
Join Date: Sep 2012
Location: London
Posts: 1,877
|
Quote:
They arent competing with Rolex but I do think the strength of the brand is in someways as strong if not stronger than Rolex Rolex is still the most attainable due to the price point and general brand recognition |
|
24 May 2018, 05:17 AM | #29 | |
"TRF" Member
Join Date: Apr 2015
Location: Houston
Posts: 17,622
|
Quote:
Obviously not all, but its a different crowd than the typical rolex buyer. I feel out of place sometimes with Patek, not so with Rolex.
__________________
Instagram: tyler.watches current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition) |
|
24 May 2018, 05:18 AM | #30 |
"TRF" Member
Join Date: Apr 2015
Location: Houston
Posts: 17,622
|
WF recently refused to buy one, apparently. I think they are having cash flow issues though.
__________________
Instagram: tyler.watches current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition) |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.