Greys not budging, just tried

[Dr H A]

Worst financial decision to buy at such a high premium especially during these times
Plz guys don’t waste hard earned money

[zagazar]

two days ago I have offered 55k for a nautilus 5712a on chrono24, but the dealer said 60k is last price. So, I will wait. Also contacted a gray dealer in Dubai and offered him $20k for a white daytona and he refused and said that sales are great (OFC he was lying to my face, and I walked out the store).

[lastshotkid]

Originally Posted by hark

Dealer probably doesn’t want to negotiate against himself. Many dealers simply won’t respond to ‘what’s your lowest prices’ inquiries. You’d need to offer him a number that you’re willing to pay, and if he says yes you really should buy..

This is true. Maybe get back to them with a number. Most of the sellers are very reasonable.


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[lastshotkid]

Originally Posted by AbsolutelyROLEX!

Just made an offer of 19k....

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[Craigdwh]

Originally Posted by Bigblu10

Hold out for how long?
The USA economy is now going to be shut down until May.
Let's see how long these watch dealers can go with no cash flow and just sit on inventory collecting dust.

the US economy is not shut down. Stop spreading fake news. stop speaking in absolutes.

[Uhtred59]

Originally Posted by L.K Johnson

This fresh watch market analysis has probably been posted already somewhere in the general section but I think it's quite an interesting read even though they might be bias:

https://www.watchpro.com/the-big-int...-online-sales/

So Spain and Italy made a dramatic turn around according to the the chief at Chrono 24, I have my doubts.

[dukie748]

With many AD's closed and Rolex production stopped, grays may be the only place to buy from right now - and as such they can hold out to get the price they want - they may discount a little to make a sale during tricky times, but not much.

In a month or two we will see the real financial implications of this crisis, and when Rolex begins shipping again we'll see some aggressive AD's trying to make sales to cover costs and losses - that's when the grays will have to start reducing prices... but I'd still guess the grays will all work together to some degree to maintain some common level of pricing, rather than competing against one another in a race to the bottom.

[Nairn1980]

Congrats

[Arcticsub]

Originally Posted by Craigdwh

the US economy is not shut down. Stop spreading fake news. stop speaking in absolutes.

Nope, it's is shut down. The satellite pictures don't lie.

Satellite imagery combined with other photographic evidence and alternative data sources give a stark look at the U.S. situation: Airplanes are parked on unused runways, the busiest highways are empty during rush hour times, resorts have become ghost towns, ports are seeing sharp drops in shipping activity and more.

[L.K Johnson]

Originally Posted by Uhtred59

So Spain and Italy made a dramatic turn around according to the the chief at Chrono 24, I have my doubts.

I also reacted to this...sounded too good to be true...

[c41006]

Originally Posted by hark

Dealer probably doesn’t want to negotiate against himself. Many dealers simply won’t respond to ‘what’s your lowest prices’ inquiries. You’d need to offer him a number that you’re willing to pay, and if he says yes you really should buy..

This! When I'm selling something and someone asks "what is your lowest price?" I always respond with the price I listed. If you want to make me an offer, make me an offer but don't ask what my best price is.

[ap1]

Originally Posted by superstarmar

A lot of dealers will not respond or give
you their lowest price. Decide on a legit
reasonable offer you’re willing to pay and
see what happens...
I’ve seen countless dealers
address this “ What’s your lowest price “ term .

Clearly they say they will not respond or reply to such
questions... Good Luck!

Yeah, when I get what’s your lowest. The first thing I think is, what’s your highest. Sadly, WAY too many buyers lead with what’s your lowest

[ap1]

Originally Posted by c41006

This! When I'm selling something and someone asks "what is your lowest price?" I always respond with the price I listed. If you want to make me an offer, make me an offer but don't ask what my best price is.

Right, and it practically never ends in a completed sale. It’s a poor way to negotiate

[Tavli3]

Sitting here scratching my head and wondering why anybody would be so anxious to buy a watch right now.

Guys with most of the hot watches Including the nautiluses available in numbers above 400 to 500 there is no shortage of these watches above MSRP. They will be there waiting for you at above MSRP prices when the dust settles. Don’t know at what prices they’ll be at BUT I can assure you they won’t be higher than what they are selling for now.

So there is no downside to waiting this out a bit. Do you really have to have that watch at 10K over list right this minute? Even if cost is no object it just makes more sense to be sitting on your hands and wallet for now.


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[fsprow]

Know several resellers, including in NYC. Most have other business interests as well as watches. You don't stay in business in tough, competitive NYC for twenty - thirty years or more without being able to make it through tough times (multiple recessions, wars, SARS, 911 attack, COVID-19 etc). Anyone wishing for their demise or desperation is misguided in my opinion. And all I know are fine folks, who work hard to raise a family, put kids through schools ..

[denmanproject]

Originally Posted by AbsolutelyROLEX!

Ok so they accepted 19k
Wonder if they would have gone lower

Congrats but lol at this, funny turn of events!

[WatchNutcase]

Originally Posted by dukie748

With many AD's closed and Rolex production stopped, grays may be the only place to buy from right now - and as such they can hold out to get the price they want - they may discount a little to make a sale during tricky times, but not much.

In a month or two we will see the real financial implications of this crisis, and when Rolex begins shipping again we'll see some aggressive AD's trying to make sales to cover costs and losses - that's when the grays will have to start reducing prices... but I'd still guess the grays will all work together to some degree to maintain some common level of pricing, rather than competing against one another in a race to the bottom.

Yep 1-2 months were going to see the reality. I'm holding off until then to buy, I'd also like to see what Rolex is going to release, if anything.

[CashGap]

Originally Posted by Cloudchaser

So people are still willing to pay a premium for Rolex watches (edited...congrats!).

With most ADs and other brick and mortars closed, it's largely "the greys" left to...

Buy low, because people are currently panic selling like you wouldn't believe. Any "grey" with liquidity is having a buying field day right now, enough even to subsidize some of their aged inventory. There are many, many variables at play here. It is not as simple as "how can they still be holding price?" Check trade values at Bob's, for example; it is a great time to be buying at wholesale.

Agreed and if they have the pockets to do it... they can dollar cost average down.

[brandrea]

Originally Posted by DBlue2018

He may not be able to drop much less and is still trying to turn a profit

Just bide your time, play it cool and they will drp

My thoughts exactly. The OP was talking about a watch on chrono24 not necessarily a gray dealer in the true sense, unless I missed it.

[Littletommy]

Originally Posted by Ocog

I find it rather odd that members of the Rolex Forum are hoping for a crash and for Grey and private sellers to be affected negatively by the current events. Yet, you all are looking to purchase when that does happen.

How about we hope everyone is doing well and quick recovery from this disaster?

[GoingPlaces]

We've only been in this for a few weeks really. Personally I think it's too early to expect deals. Give it another month or two and then see. Right now there is some optimism that we get out within a couple months with a strong rebound.

[Littletommy]

Originally Posted by Michael V

That was a foolish offer imho. Wait a month and see what happens. Those with cash in the nearer future will be king. MSRP or cheaper from here on out.

MSRP or cheaper? Eh...probably not.

[Michael V]

Originally Posted by Littletommy

MSRP or cheaper? Eh...probably not.

From an AD ?? I could have bought almost anything in the case 5 years ago for 20% off...

[Brny11]

They are for sure hurting with sales volume right now. If you try to trade in, they are offering dramatically less than a month ago, but keeping prices the same. They will come out ahead if the market stabilizes sooner rather than later. If not, they will be sitting on a lot of inventory or dropping those prices. Only time will tell.

[dwjez14]

It’s still too early
Until the watches start to come to them at cheaper prices they won’t sale cheaper. A lot of grays still pay top dollar also. For example some grays pay retail and sometimes they pay top dollar and flip for 500.00. I sold a Batman for 14k to a gray fully stickers. They flipped it for 14.5 or 14.7 I believe. We are still a month to a couple of months off from lower prices if they come

[LigerBelair]

Originally Posted by Hollie_Rollie

I think once the virus has run its course and we’re getting back to normalcy AND there’s still much less interest in the BLROs, Daytona’s, Hulks...then it’ll come crashing down

The greys are holding out bc they think it’s just the virus that’s causing this

I think that's a good call on your part.

[Littletommy]

Originally Posted by Arcticsub

Nope, it's is shut down. The satellite pictures don't lie.

Satellite imagery combined with other photographic evidence and alternative data sources give a stark look at the U.S. situation: Airplanes are parked on unused runways, the busiest highways are empty during rush hour times, resorts have become ghost towns, ports are seeing sharp drops in shipping activity and more.

Nope..the econony is not 'shut down'. That's a very broad and erroneous statement to make.

The economy has definitely tanked in some venues (particularly with my friends in the hospitality business), but the world/U.S. economy certainly is not 'shut down'. Where do people get these ideas? Too much TV?

[Speedsleev]

I'm friend's with a few pretty heavy Grey dealers, some you would know by name. The ones positioned well and not in over their head will hold tight and make out on the back side.

The junior flippers and guys that are over extended with be crushed and maybe, probably beyond repair.

If things were tight going into this, they are in trouble now for sure without question, give it time.

With that said, one of the biggest grey guys in the US industry told me price reductions are coming, no way around it even if they are flush with cash, they will respond to the market.

Example, four weeks ago I sold a BLNR few years old for $13k
Today, a different one a few months newer for $10,900

I'm not a flipper, these are friends that wanted out of their watches at the start of this unemployment run on most industries so I helped them out.

For what it is worth.

If you want a hot piece like a Pepsi or Daytona, don't expect it to be like crazy Eddies blow out, you may save 10-15%.

Unless, this carries in into August, you will see 20-30%.

Just like the stock market and the late Kenny, gotta know when to hold em...you know the rest...

[Ocog]

Originally Posted by Littletommy

Nope..the econony is not 'shut down'. That's a very broad and erroneous statement to make.

The economy has definitely tanked in some venues (particularly with my friends in the hospitality business), but the world/U.S. economy certainly is not 'shut down'. Where do people get these ideas? Too much TV?

I'm just as perplexed as you. I think a lot of the individuals on this forum aren't the brightest of lights.

Hoping for the market to drop so that they can finally buy a piece they cannot truly afford. I'm not saying all of the people on this forum but majority.

[andyxxx]

Originally Posted by Littletommy

Nope..the econony is not 'shut down'. That's a very broad and erroneous statement to make.

The economy has definitely tanked in some venues (particularly with my friends in the hospitality business), but the world/U.S. economy certainly is not 'shut down'. Where do people get these ideas? Too much TV?

Well it pretty much has shut down in the UK.
'Where do people get these ideas?' Are you kidding?

The building industry, large and small - virtually all shut down
Builders merchants largely shut
Schools shut
Estate agents, hair salons, all retail (apart from food), most manufacturing – shut.
Call centres – skeleton staff
Leisure, Tourism, Hospitality, bars, restaurants shut
Sports events shut
Hotels largely shut