Gold is getting very very hot.

[peterpl]

I dont know but I have a bad feeling PM prices are going to surge and explode bigtime. Just what I have heard and seen just last week shopping around for my 116618LB.

It wasn't actually hard to attain the 116618LB as in where I couldn't actually find one but the asking prices were up there to be honest. Thats why it took me a while to get it because these have also risen so much I was a bit shocked because I was eyeing this watch since 2-3 years ago and compared to back then its gone crazy high.

RG SKyDs for $45k. LOL that is pretty much retail. I got mine for $33k BNIB. Thats a HUGE jump.

Now I"m seeing RG DD40s for >$35k huge jump from the $28k I got it for as well not so long ago.

I really really hope this is not the start of the PM FOMO or investment mentality because I've got my eyes on other PM pieces I want. LOL - I wont be able to afford the damn things they are already so expensive..

[GoingPlaces]

Originally Posted by peterpl

I dont know but I have a bad feeling PM prices are going to surge and explode bigtime. Just what I have heard and seen just last week shopping around for my 116618LB.

It wasn't actually hard to attain the 116618LB as in where I couldn't actually find one but the asking prices were up there to be honest. Thats why it took me a while to get it because these have also risen so much I was a bit shocked because I was eyeing this watch since 2-3 years ago and compared to back then its gone crazy high.

RG SKyDs for $45k. LOL that is pretty much retail. I got mine for $33k BNIB. Thats a HUGE jump.

Now I"m seeing RG DD40s for >$35k huge jump from the $28k I got it for as well not so long ago.

I really really hope this is not the start of the PM FOMO or investment mentality because I've got my eyes on other PM pieces I want. LOL - I wont be able to afford the damn things they are already so expensive..

Yes, I agree. I was able to source my DD40 just under 30K just last year. Over 40K makes it uncomfortable for me. That's pretty much my ceiling.

[fsprow]

As they say:
“A rising tide raises all boats”

Many people have money to spend and are doing so.

[Vipes]

The big 3 (Rolex, AP, Patek) are still very hot. I spoke with 3 ADs and they are doing better in sales than last year (Patek and Rolex ADs). New AP boutique opened in my area a couple of months ago and they are doing really well. Seems like the watch market is still going strong. I guess the shortage in SS pieces is causing buyers to gravitate towards PM.

[jltait]

Gold isn’t all of a sudden worth more. The dollar is all of a sudden worth less. You won’t see inflation in the usual places these days, not yet at least. That pm Rolex you’re shopping for, it costs more in nominal terms. And that ticking you’re hearing inside the case - a tiny printing press.

[peterpl]

Originally Posted by jltait

Gold isn’t all of a sudden worth more. The dollar is all of a sudden worth less. You won’t see inflation in the usual places these days, not yet at least. That pm Rolex you’re shopping for, it costs more in nominal terms. And that ticking you’re hearing inside the case - a tiny printing press.

Its got nothing to do with the US Dollar at the moment. Its only marginally weaker. Nowhere near enough to justify the price rises in any PM watch.

[peterpl]

Originally Posted by Vipes

Seems like the watch market is still going strong. I guess the shortage in SS pieces is causing buyers to gravitate towards PM.

Yeah watch market is still quite strong. I was convinced with 33% GDP drop and like 40+ Million unemployed the watch market was going to tank. LOL

Money is pouring in from somewhere.

Dont really agree that SS shortage is causing ppl to buy PM. Someone in the market for a $10k-$15k watch cant all of a sudden drop $35k on a watch. Its easy to say but hard to do without stretching financially and that alone would eliminate 90% of SS buyers.

Dunno what it is causing the hype. Might be grays hoarding as well just like we saw with SS. Artificial maybe?

[peterskinner]

When I saw the title ‘gold is getting very hot’ I assumed this would be a discussion about how the weight of gold bracelets could be uncomfortable in the heat.
Boy, got that wrong.

[mykii]

Originally Posted by peterpl

Yeah the ADs near me still have some gold pieces but they are offering big 0% discounts. Grays in the past were the place to get 20-25% discounts but now they are almost MSRP or like 5% off only. Its crazy. If it keeps going PM will all be over retail as well which sucks for me and guys like me that only buy PM.

Yes I do agree all the buy now pay later companies like AfterPay and other financing companies are helping ppl to get into these full gold pieces. Thats a whole another discussion though.

I keep my eye on prices all the time because I'm always looking to buy my next piece. So I can see all the prices drifting higher and higher. Its just crazy.

I don't disagree..

[mrricks]

Gold, love it!



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[watchwatcher]

Interesting. Exciting times indeed.

[Crazy Lugs]

Originally Posted by Tavli3

"There's money in the streets"
"Where's the money coming from"

PPP
Biggest government boondoggle of all time. Little to no policing against fraud. Yhea they caught a few guys here and there and a few companies gave the money back. But millions got millions of undeserved cash. Go try and buy a new boat, there are none.
40K Gold watches flying off the shelves like sardine cans??

All of a sudden everybody's rich?? It's either the Day trading Robinhooders or PPP.

IMHO, there’s some real truth to this based on the stories I’ve read about those who were caught buying lambos, etc. What a shame.

[JSolution]

what's ppp?

[ronricks]

Originally Posted by madplatter3381

5 digit gold watches have been under priced, SS over priced. Discrepancy is now converging.

Agree with this. The best deal on a gold Rolex from a ‘gold’ perspective right now is the OQ 19018. They are about 160 grams fully linked compared to 138 grams for a 18038 or 18238 and can be had several thousands cheaper.

[pickettt]

Originally Posted by Fleetlord

3) There are some things about the "modern digital" economy that we don't fully understand yet. As Eric said, "There is money in the streets", but it isn't really clear where it is coming from...in some sectors (and not to marginalize those who are struggling), it's almost like nothing negative is happening at all. The trades (HVAC, Electrical Plumbing...etc) are still booming....Residential AND Commercial. No impact in demand felt at all. It's almost like a bizarro economy...the nubmers just don't connect all the dots..

This right here is the red flag. When it doesn't add up, you've got to ask questions.

[Maiden]

I spent a long time hunting for my pre ceramic gold sub. I was shocked how few were out there six months ago. There are even less now and prices are higher. Not sure what is going on but I love the gold!


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[nosignalbmwdriver]

They can fake a SS rolex
Much harder on Gold

That's what I always say

[gaeleus]

Originally Posted by jltait

Gold isn’t all of a sudden worth more. The dollar is all of a sudden worth less. You won’t see inflation in the usual places these days, not yet at least. That pm Rolex you’re shopping for, it costs more in nominal terms. And that ticking you’re hearing inside the case - a tiny printing press.

Agree with this. My sense, a lot of money printing by Fed. These are the signs of inflation/ currency devaluation. Yeah, the Dollar has def seen better days.

[mtasquared]

Color commentary. My Dad just bought a 41 mm full gold Day Date. The bracelet alone is worth the price of admission, with that little clasp made of solid gold in the shape of the Rolex logo. It is sick. I have a TT Datejust. But when you see the Day Date with even the caseback made of solid gold, and you heft the thing because it is so heavy...it is just STOMPING. It is the people's watch, actual money on your wrist. You can go right up to a Joe on the street, and trade it for his car, that simple. Not to spew, but I think I will, why would I pay twice as much for a Patek Nautilus, with a tiny bit of gold in the rotor, with its stainless steel brushed/polished finish that looks like a pain to maintain, when I can wear a solid fricking chunk of heavy Rolex gold on my wrist that doesn't require a degree from an upper class finishing school to appreciate?? The only thing is that it is expensive. Which is also, kind of the point. It is what it is. End commentary.

[Vincent65]

Was gold ever cheap, then? I missed that...

[DawgByte]

Originally Posted by synrrgy

Love the Day Date in this pic, the dial is beautiful and Roman numerals go very well with it. Great collection you have there, the Cartier ring is money too!

Yes, I agree that Day Date is stunning! Love it.

[GoingPlaces]

Originally Posted by Fleetlord

I think it's a number of factors going on.

1) The full power of the ROLEX brand is completely unleashed. The general public always thought a Rolex was more expensive than the SS steel pieces that used to populate dealer cases...and people would buy those as a "value"...but now that those aren't as available, the costs of TT and PM are aligned with expectations and there was little resistance to buyers just flat out spending more money. Then FOMO gets a grip and people just can't stand watching things escalate in price and getting left behind, so those buyers jump into the pool too...quite aggressively.

2) The PM AP and Patek are driven buy people looking to get even more exclusive and flex harder than Rolex..or have a differentiation of FLEX to show off. It's not surprising at all. Those brands practice fantastic brand management and will always be super tip top desireable.

3) There are some things about the "modern digital" economy that we don't fully understand yet. As Eric said, "There is money in the streets", but it isn't really clear where it is coming from...in some sectors (and not to marginalize those who are struggling), it's almost like nothing negative is happening at all. The trades (HVAC, Electrical Plumbing...etc) are still booming....Residential AND Commercial. No impact in demand felt at all. It's almost like a bizarro economy...the nubmers just don't connect all the dots..

I mean seeing some doosher Youtuber stumble into an AD and drop $100K on a Rolex tells me that the alternative sources of income via digital means are bearing some pretty ripe fruits..

To number 3. Yes, feels bizzaro. However let’s realize there are more millionaires in the world today and that number will continue to grow. The amount of wealth (albeit relative) in the world as a whole has exploded. Until or unless we suffer truly a cataclysmic fate the worlds economies will continue to produce. Even at lower margins or scales. Here we are with the entire travel and hospitality industry shut down along with entertainment (restaurants) and yet the stock and housing market is exploding.

No surprise Rolex remains strong. Even if the list for hot models get reduce by half there is still a list, and supply will never satisfy that demand.


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[Wcdhtwn]

Originally Posted by Vipes

The big 3 (Rolex, AP, Patek) are still very hot. I spoke with 3 ADs and they are doing better in sales than last year (Patek and Rolex ADs). New AP boutique opened in my area a couple of months ago and they are doing really well. Seems like the watch market is still going strong. I guess the shortage in SS pieces is causing buyers to gravitate towards PM.

Where are you in TX? I'm in Houston, have I missed an AP Boutique opening around me?

[TankTom]

Originally Posted by jltait

#shenanigans

I’m all about the pm bullion. Will pick up the pm watches once the Rolex bubble ends and gold is at $4k/ounce.

always waiting...

[tie219]

Originally Posted by Wcdhtwn

Where are you in TX? I'm in Houston, have I missed an AP Boutique opening around me?

I live in Houston too and only know of Zadok in our area and they're not a boutique. I think one opened up in Dallas recently.

[TankTom]

Originally Posted by peterpl

All valid points. I too have not suffered that greatly in all of this mess. I mean yeah my share portfolio took a massive hit but its pretty much all back now and even more. None of my real estate portfolio has seen anywhere near the drops that the doomers and gloomers were talking about and in all honestly Ive only had a single person ask for rental reductions.

In saying that though the pool of ppl not affected by coronavirus out of that pool it must be coincidence or absoute insanity that this small pool houses all the Rolex/AP/Patek buyers.

It simply cannot be the case. There are way too many ppl flexing on Instagram, facebook, tiktok etc....to all be in the percentile that have had 0 or minuscule affects by the virus monetarily.

I just find it amazing that during the worst ecoonimic times in recent history that luxury items and especially full gold Rolex's are flying off the shelves.

Even if I was a billionaire (which I am very very far away from being) dropping $30k on a watch is serious serious coin. Now I'm seeing SKyDs for $45k+ and PM RG Daytona's for $38-39k. DD40s in RG for $36-$38k

They were never these prices before in the Gray market. Before we know it all PMs will be over retail soon.

Don't forget that lots of people buy rolex watches without really being able to afford them, safe in the knowledge that they won't lose much/any money when they inevitably sell them soon after (due to realising they actually can't afford it).

[DtownRRS]

Originally Posted by JSolution

what's ppp?

US FED backed bank loans to business for COVID relief to help keep people on the payroll. If used as intended it can be 100% forgiven as a grant. I would think some of that money is not going to
the intended use.

PPP = Payroll Protection Program (Loan money up to 10 million per company based on head count)

[JodyHighroller]

Originally Posted by Wcdhtwn

Where are you in TX? I'm in Houston, have I missed an AP Boutique opening around me?

There is an AP boutique now in Highland Park Village in Dallas.

[1665fan]

Sounds like all this is going to lead to an economic crash then watches will drop in price regardless steel or pm

[peterskinner]

When history is written, what are the chances of them saying that in 2020, people had no idea what was coming down the track. There’s an air of unreality about. A sort of ‘it’s not happening’ attitude.
Doesn’t feel good to me, regardless of the price of Rolex!