So the Daytona market is finally seeing a heavy correction!

[xeal]

We all knew it was coming, but some kept buying at heavy prices fearing they would miss the boat.
You can be delusional and say that "top quality will still", "full sets will still", etc etc.
Fact is, a 6263 would sell at roughly 25% more just 3 months ago.

Newmans are softening. Tons of quality 6263s and 6265s have been around if you know the right dealers and collectors, and all at easily 20K or so less than it would have been priced at 3-4 months ago. Not to mention they are hanging about and not being sold as quickly as they used to.

I have a feeling we are going to see a bigger correction.
This is an excellent thing for guys that want to buy them.

Discuss.

[michael23]

I don't see any correction of any sort where I live and within the vintage circle that I know. Only thing I've noticed are prices of bad examples softening a bit but good quality ones are all still going up as they always have been.

[Haywood_Milton]

Specific examples of like-for like watches with prices and dates to support your claim please, OP.

[xeal]

Originally Posted by Haywood_Milton

Specific examples of like-for like watches with prices and dates to support your claim please, OP.

I cannot post pictures of watches that have been traded between collectors, or that were offered to me and sold via dealers privately.
But here is a fresh example that was available on the IG of Michael Morgan.
These would never make the site in the past. It was priced a good amount less than it would have very recently.

I think anyone that believes the market is not seeing a correction on Daytonas is in denial that the market can and is softening, even after years of a steep climb in value.

https://www.iconicwatchcompany.com/s...DAYTONA18.html

[Kingface66]

OP, what the listed price of Michael’s watch that you posted? It doesn’t show the asking price anymore.

[1665fan]

I think watch sold for in 80k range....PM me with all your 60k 4 digit Daytona’s. I bet I won’t get one PM lol.....

[rmlovett1]

Originally Posted by xeal

I cannot post pictures of watches that have been traded between collectors, or that were offered to me and sold via dealers privately.
But here is a fresh example that was available on the IG of Michael Morgan.
These would never make the site in the past. It was priced a good amount less than it would have very recently.

I think anyone that believes the market is not seeing a correction on Daytonas is in denial that the market can and is softening, even after years of a steep climb in value.

https://www.iconicwatchcompany.com/s...DAYTONA18.html

“Would never make the site in the past” Why?

[77T]

Without empirical data this thread will go nowhere. Anecdotal instance doesn’t make a trend.

The vintage market in general seems to be continuing its march upward from what most are seeing.


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[jfmiii]

Originally Posted by Kingface66

OP, what the listed price of Michael’s watch that you posted? It doesn’t show the asking price anymore.

it was offered on VRF for $86,700. who knows what it sold for. assuming it sold in the $80k range, the prices do seem to be weakening a bit. are they 25% lower, im not sure. Michael had a watch of similar quality but with B&Ps listed for $120k back in July. given what eric ku said re: his 4 digit Daytona inventory in 2008-2009, perhaps these references' prices are more reactionary vis-a-vis the securities markets.

[CalSRQ1]

So how can you throw out a headline like that- “heavy correction” with no examples? Trying to start a stampede yourself? Please OP.

[swish77]

Originally Posted by xeal

We all knew it was coming, but some kept buying at heavy prices fearing they would miss the boat.
You can be delusional and say that "top quality will still", "full sets will still", etc etc.
Fact is, a 6263 would sell at roughly 25% more just 3 months ago.

Newmans are softening. Tons of quality 6263s and 6265s have been around if you know the right dealers and collectors, and all at easily 20K or so less than it would have been priced at 3-4 months ago. Not to mention they are hanging about and not being sold as quickly as they used to.

I have a feeling we are going to see a bigger correction.
This is an excellent thing for guys that want to buy them.

Discuss.

As a 6263 owner, I watch the market like a hawk, obsessively and everywhere ... online, IG, private discussions with dealers and other collectors, etc ... I don't agree with the OP's statement. It just ain't the case. (And where are the "tons of quality 6263s and 6265s"?)

What I have noticed is perhaps a slight softening in prices, but not that much. And maybe the 6263s and 6265s aren't selling as quickly as earlier this year, but that's to be expected when prices skyrocket. Once you approach the $100K mark, it ain't as easy to sell a watch, of course.

[roh123]

Market is much slower and prices are shaky. Dealers have big inventory of Daytonas and they do offer less when buying at the moment. I am sure most people try to get yesterdays prices but if you have money in hand and have wits and patience you will be able to do a good deal.

Auction prices are also declining in general. Much as dealers aren’t buying as much as before. Something that started already around the time of the Phillips Daytona sale. With the financial markets being as they are this and many other niches are having issues.

I don’t have a crystal ball so I can’t say what will happen. To me a standard Daytona is more of a 50k watch than 100k. But then again; I sold mine earlier this year. I enjoy other watches much more than these chronographs. Each to their own I guess.

[swish77]

Good examples of 6263s without B&P are still selling well into the $80Ks. Perhaps that’s considered a softening of the market, but I still see that as strong pricing. And every time I see or hear of one for being offered by well-known dealers, the watch still sells quite quickly.

We all like what we like. For me the 6263 is so beautifully iconic. And frankly every vintage Rolex is over-priced. Red 1680s well into the $20Ks now? That’s nutty too.

This thread needs a photo!

[rmlovett1]

Originally Posted by swish77

Good examples of 6263s without B&P are still selling well into the $80Ks. Perhaps that’s considered a softening of the market, but I still see that as strong pricing. And every time I see or hear of one for being offered by well-known dealers, the watch still sells quite quickly.



We all like what we like. For me the 6263 is so beautifully iconic. And frankly every vintage Rolex is over-priced. Red 1680s well into the $20Ks now? That’s nutty too.



This thread needs a photo!

Agree Aaron! And as was stated by the op....”would never had made his site in the past” (Michael @ Iconic Watch) ....
I’m finding this 6263 without many flaws and an outstanding example that was priced in the high 80’s. I was confused by that statement



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[twnturbo]

Anyone seen these ,EUROPEAN watch co Daytona's 26 pieces made from all original parts being sold as "customized pieces " more info on the ig @europeanwatchco


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[cdnwatchguy]

The vintage market will always have bumps and dips, a couple of months doesn't equal a trend.

[1665fan]

No major correction yet.....it will take a recession for that to happen

[chows99]

What recession?

The Dink is selling 2x 6239 at $70k and $75k!

[PVR]

Hate to rain on some of you guys' parade, but I can tell you definitively that manual wind Daytonas over all are experiencing a softening in price and slowdown in demand.

No I don't have empirical data or any charts or graphs. But, I can tell you as a buyer/seller that I am being offered far more nice examples at much lower prices than I have seen in years.

Thats my proof. Dont know if its a correction or if the demand for 100k watches has waned or if collectors are all stocked up on Daytonas at the moment, but in all my years of collecting I haven't seen a dip in prices for any sport model like this. This is a major adjustment and the floor has been lowered by 20% in a short time.

Oh, for all of those asking for 60k pieces, no they havent gotten there yet. But, those 100k pieces are being offered all day at 75k-80k so if you want me to send a dozen your way feel free to PM. 18k Gold, SS, 6263 and 6265..

[1665fan]

Yes feel free to send them. SS only, 6265 or 6263. The 2-300k Daytona’s have definitely dropped but naked 6263 and 6265 were never 100k to start with. I have seen them go from 50 to 60 and so forth to 80k now in the past year or year and half...so like I said feel free to pm if you have a nice example for sale.

[uncleluck]

Wonder how many of these expensive, rare old daytonas are out there not even discovered.

I was watching a video the other day and a high end pawn dealer was getting interviewed and he took them into his vault. He had watches everywhere in there and just kept saying he needs to get rid of everything.

He opened one bag (that was just sat under a box) and pulled out two old Paul newman daytonas, an all gold one like above and one with a red dial. I’m kind of amazed the rich guy that was doing the vid didn’t jump on them and push him for a good deal. He had stuff everywhere, Patek’s just racked up in trays and packets.

Imagine how many are just sat around like this. Would destroy the market overnight if the people that have them pulled their finger out and tried to sell them.

[SubKing]

Originally Posted by uncleluck

Wonder how many of these expensive, rare old daytonas are out there not even discovered.

I was watching a video the other day and a high end pawn dealer was getting interviewed and he took them into his vault. He had watches everywhere in there and just kept saying he needs to get rid of everything.

He opened one bag (that was just sat under a box) and pulled out two old Paul newman daytonas, an all gold one like above and one with a red dial. I’m kind of amazed the rich guy that was doing the vid didn’t jump on them and push him for a good deal. He had stuff everywhere, Patek’s just racked up in trays and packets.

Imagine how many are just sat around like this. Would destroy the market overnight if the people that have them pulled their finger out and tried to sell them.

can you please provide a link to this video? I would like to see it.

[uncleluck]

Originally Posted by SubKing

can you please provide a link to this video? I would like to see it.

Form an orderly queue haha...






Here you go, vault bit starts at circa 15 min. Daytona bit starts at circa 24 min.

https://youtu.be/k_6cMplFieM

[1675-David]

keith haring skateboard!!

[exador]

Originally Posted by uncleluck

Here you go, vault bit starts at circa 15 min. Daytona bit starts at circa 24 min.

It's Yossi from Beverly Hills Pawn!

[wisguy]

Soft market? Tell me where so I can buy me a vintage Daytona.

[1665fan]

I’m still waiting also wisguy....

[roh123]

Try buy one. If you are ready with cash I think you have a good chance to buy a nice one around 65-70k. Just ask around and I am sure someone will bite. Lots and lots of good Daytonas available in the market.

[tekno]

This is just a guess since I won’t own a Daytona any time soon... but I have noticed all collectibles worth $$$$ moving slower, it’s the end of the year and every major news outlet is talking about a economic downturn for 2019... Not to mention oil prices have been bouncing and it has a lot of ppl nervous.

I could see some really nice high end, high dollar pieces being sold a little more often until things become less uncertain with Ghina etc. totally a guess.

Those watches are some of the most expensive stainless models I believe? If you had a collection and needed to flip a few watches to put back some paper I could see it being the Daytona type watches.

Either that or you’re in the market for one, you sneaky dog lol.

[1665fan]

I don’t own a 4 digit but have a few zeniths....not sure I want to trade a couple zeniths and maybe a sub for a 4 digit.....I think the 40mm size of the zeniths will hold up value wise better than some of the 4 digits out there...what do you guys think???