Changing Prices (not watches)

[superdog]

I know some of you don’t much like economy/value/economics threads. Please simply move on. Thank you.

We all know watches are shifting.

But I’ve seen other things start shifting too.

Years ago I developed an affinity for a specific brand of eye glasses. I deviate from time to time, but these are my favorite.

In the beginning, they offered discounts readily. Then the last few years they not only stopped discounting, but they raised pricing and their attitude went from helpful to…less so.

I stopped in yesterday, discounts offered without me even asking.

And last week, my Mercedes Benz dealer called me to ask if I wanted a G63 Wagon. It was still over MSRP, but it was heavily discounted from 6 months ago. And it is must certainly out of the ordinary for them to be calling.

Curious what shifts you guys are seeing?

[Star Ferry]

Prices of luxury goods are settling down for sure, agreed. I saw the new two tone explorer on jomashop for a tad below MSRP.

Rents are coming down in NYC and elsewhere finally, after a historic bull run. Things had been extremely slanted in the favor of landlords, and folks were basically begging for the chance to view available apartments. What I’m hearing is apartments are sitting vacant for longer (which is still very little time compared to the rest of the country). Anecdotally, this may be due to people moving out of the city due to sky high living costs and declining quality of life.

[Trailboss516]

I haven't seen as much of a budge as I would like to see for international airfare and hotel prices...I loosely group those two things into "luxury" purchases, but I know there are other factors in play there...fuel, local currency, inflation, etc. Fine.

I haven't noticed much else around me for things I normally consume, though.

[Vince M.]

Watching the boat market. I buy a new to me ( most times brand new, sometimes used ) Nautique G23 every single year. I sold my last boat at an eye watering high in August. The new body style boats were all 225k ++ for the last couple years. Most have been holding the line at high asks but there are cracks now. I have been seeing them pop up recently for 170k or best offer. A dramatic shift in that market.

Also watching houses in Coastal SW FL. They are stair stepping down in price by the week. The downstroke wont stop until the fed stops raising rates, which will be all of next year.

As the fed drains the last bit of liquidity out of the market for Christmas and continues pumping interest rates up 2023 is going to be an exceptionally brutal year in all markets, especially luxury goods/toys.

[brandrea]

May be specific to where you live, but I haven’t noticed things have budged here at all.

The things I’m interested in (beyond watches) are going up in price

[GB-man]

Originally Posted by Vince M.

As the fed drains the last bit of liquidity out of the market for Christmas and continues pumping interest rates up 2023 is going to be an exceptionally brutal year in all markets, especially luxury goods/toys.

That would make the most sense right? Unfortunately every time I think I know where the ship is headed the oceans prove me wrong.

Just curious why buy a new boat every year? Is there some strategy at play or just for fun?

[GB-man]

Originally Posted by brandrea

May be specific to where you live, but I haven’t noticed things have budged here at all.

The things I’m interested in (beyond watches) are going up in price

Leather coats and martinis are on the rise Brian?

[brandrea]

Originally Posted by GB-man

Leather coats and martinis are on the rise Brian?

Sent from my SM-G960W using Tapatalk

[Ferdelious]

Food and drink prices are still high. Hoping they will drop too so I can enjoy some nice dinners out.

[Star Ferry]

Originally Posted by Ferdelious

Food and drink prices are still high. Hoping they will drop too so I can enjoy some nice dinners out.

x2. I haven’t eaten anything since fall 2020, and I’m getting hungry.

[Vince M.]

Originally Posted by GB-man

Just curious why buy a new boat every year? Is there some strategy at play or just for fun?

A dealer I have been working with for a long time feeds me boats way under retail. It started by me buying his left over inventory at a discount, cash. His market wasn't as strong as mine as the mfg has strict rules of selling out of territory. He sold stale inventory and I got a boat. I have done two per year some years.

I get to use them for a summer and sell for a profit. Often 15-40k.

Its a very niche market and you have to know exactly what your doing or you will get smoked bad.

[TNT009]

Wish Id see a price shift in Sushi, prices still sky high since COVID!

[GB-man]

Originally Posted by Vince M.

A dealer I have been working with for a long time feeds me boats way under retail. It started by me buying his left over inventory at a discount, cash. His market wasn't as strong as mine as the mfg has strict rules of selling out of territory. He sold stale inventory and I got a boat. I have done two per year some years.

I get to use them for a summer and sell for a profit. Often 15-40k.

Its a very niche market and you have to know exactly what your doing or you will get smoked bad.

That’s what I figured! Love it.

[enjoythemusic]

Car repo at highs again.

If u want a car, wait a few months or check your repo auctions. I would have LOL'ed in the face of any car dealer not asking msrp or less.

Your Mercedes, wait for repos.

[Mifune]

you may be asking the wrong question...

we should ask, what HASN'T been going down.

in a high inflation environment, this really shouldn't be happening because the fractionalization of currency should give the illusion of elevating value... but values of physical assets are dropping or at least fluctuating and flat.

normally I would think a liquidity shortage would be at the core, but I do think there is a LOT of liquidity sitting around... it is just not be deployed until the cost of borrowing gets more reasonable.

[GB-man]

Consider Q3 2020-Q4 2021 an aberration and the market isn’t as scary as they tell you. We are much better off with rates here. If they go higher substantially higher that’s where trouble begins. Do you think people should have to give all their money to the bank for no return or gamble on equities? I think a small return for a savings account is a healthy situation.

[SMD]

Been focusing on cars lately and they are coming down, but there is a standoff between the dealers and market reality. 2021 G63 on BAT sold for 200, would have been easily 250 earlier in the year. SF90 is way down, from 1 million+ to the 600's. But lots of sales not meeting reserve because sellers still think its early 2022. Car dealers are going to get smoked if they don't cut bait soon and just eat the loss.

Watching ski properties as well, but that will take some time for interest rates to work through the system and slow that down. There too the sellers don't think anything has changed.

Things that are going up -- F1 Paddock Club tickets to any of the 2023 races! Going to Silverstone but passing on the domestic races as they are just gouging now (looking at you Vegas!). Restaurant prices are up and the service quality is poor. Honestly, we need a good recession to shake up the labor market IMO, which will help bring some semblance of normality to the economy.

[superdog]

Originally Posted by GB-man

Consider Q3 2020-Q4 2021 an aberration and the market isn’t as scary as they tell you. We are much better off with rates here. If they go higher substantially higher that’s where trouble begins. Do you think people should have to give all their money to the bank for no return or gamble on equities? I think a small return for a savings account is a healthy situation.

I’m in agreement. Full agreement.

[superdog]

I wonder if we will ever see a G63 at MSRP or lower. Given history, I find it unlikely.

Regardless, I tend to treat all people with respect and appreciation. I was grateful he thought of me and I politely declined. I did mention that I’d likely be a buyer under the right conditions and that I’m only looking for deals.

[GB-man]

Originally Posted by superdog

I wonder if we will ever see a G63 at MSRP or lower. Given history, I find it unlikely.

Regardless, I tend to treat all people with respect and appreciation. I was grateful he thought of me and I politely declined. I did mention that I’d likely be a buyer under the right conditions and that I’m only looking for deals.

What was the VIG if you don’t mind me asking?

Was there a premium in 2018-2019? I don’t recall. Seems to me like they raised prices substantially and also dealers started tacking on same time when the refresh coincided with C19.

I feel like a g63 use to be like 125k in pre refresh/pandemic. Now they want like 150 msrp for the damn g550s.

[superdog]

Originally Posted by GB-man

What was the VIG if you don’t mind me asking?

Was there a premium in 2018-2019? I don’t recall. Seems to me like they raised prices substantially and also dealers started tacking on same time when the refresh coincided with C19.

I feel like a g63 use to be like 125k in pre refresh/pandemic. Now they want like 150 msrp for the damn g550s.

It has never been like recent years. It’s gotten pretty dramatic.

But it’s been a hard to get vehicle for years. Most specifically since the recent model was introduced, they have been super difficult to get and have commanded a premium.

Dealerships just don’t tend to get too many. So it’s the scarcity thing. I think they will continue dropping, but I doubt we will ever see MSRP. Just my opinion. Hard to say.

And if we do hit a recession with any punch, all my bets are off. Wish I could predict.

[GB-man]

Originally Posted by superdog

It has never been like recent years. It’s gotten pretty dramatic.

But it’s been a hard to get vehicle for years. Most specifically since the recent model was introduced, they have been super difficult to get and have commanded a premium.

Dealerships just don’t tend to get too many. So it’s the scarcity thing. I think they will continue dropping, but I doubt we will ever see MSRP. Just my opinion. Hard to say.

And if we do hit a recession with any punch, all my bets are off. Wish I could predict.

Yeah who knows. Buck the trend and get an LX600 and send it out to get kitted with a roof rack, wheels and tires, front bumper the works. You’ll be way cooler than every swinging dick in NY/NJ who has a G63 already.

[Bstewart]

Originally Posted by GB-man

Yeah who knows. Buck the trend and get an LX600 and send it out to get kitted with a roof rack, wheels and tires, front bumper the works. You’ll be way cooler than every swinging dick in NY/NJ who has a G63 already.

That's kinda cool

[superdog]

Originally Posted by GB-man

Yeah who knows. Buck the trend and get an LX600 and send it out to get kitted with a roof rack, wheels and tires, front bumper the works. You’ll be way cooler than every swinging dick in NY/NJ who has a G63 already.

Dude. I love it. I’m actually going to look into one.

[NardinNut]

Originally Posted by GB-man

Yeah who knows. Buck the trend and get an LX600 and send it out to get kitted with a roof rack, wheels and tires, front bumper the works. You’ll be way cooler than every swinging dick in NY/NJ who has a G63 already.

Nice! Makes that hideous grill look a bit better. They had to do a lot of cutting/customizing to get that bumper to look so clean.

[m j b]

Originally Posted by SMD

Been focusing on cars lately and they are coming down, but there is a standoff between the dealers and market reality.

I concur totally. I've been shopping for a used BMW M3 or M4 (F8x) and the market is stuck in 2021 it seems. Private sellers are even worse.

I'd chuck it and just buy a new one, except that they are still selling for MSRP+ if you can even find one. I had one (G82 M4), bought it new, sold it 8 months later for a profit.

It's to be my spare/fun/track car, so I'm in no hurry.

[GB-man]

Originally Posted by m j b

I concur totally. I've been shopping for a used BMW M3 or M4 (F8x) and the market is stuck in 2021 it seems. Private sellers are even worse.

I'd chuck it and just buy a new one, except that they are still selling for MSRP+ if you can even find one. I had one (G82 M4), bought it new, sold it 8 months later for a profit.

It's to be my spare/fun/track car, so I'm in no hurry.

there's a 2018 white manual 6 speed light on options on the moda car page asking 64k right now. 8200 miles. Could be a tracker.

edit: here it is. True stripper.

https://www.grandprimotors.com/used/...657c2d848b.htm

[GB-man]

Originally Posted by superdog

Dude. I love it. I’m actually going to look into one.

Sweet. You will find some f***ery with allocations not unlike g wagons but I think a man with your connections can get one easily at msrp or close depending on timeline. I bought my last one in Edison NJ but they have since started smoking crack and asking hilarious premiums so I need to look elsewhere.

Originally Posted by NardinNut

Nice! Makes that hideous grill look a bit better. They had to do a lot of cutting/customizing to get that bumper to look so clean.

Yes thats a clean install. I honestly am over the grill. Either go f sport or just get it in atomic silver and it blends much better. There are so many cars with worse front ends (half of bmw lineup lol) that its not enough to deter me.

[superdog]

Originally Posted by m j b

I concur totally. I've been shopping for a used BMW M3 or M4 (F8x) and the market is stuck in 2021 it seems. Private sellers are even worse.

I'd chuck it and just buy a new one, except that they are still selling for MSRP+ if you can even find one. I had one (G82 M4), bought it new, sold it 8 months later for a profit.

It's to be my spare/fun/track car, so I'm in no hurry.

I can get these at MSRP. If you want, DM me.

[Danny83]

Definitely cars, Also the resale value of Birkin hanbags. Real estate next im thinking