116520 prices higher than 116500 in Hong Kong

[Matc]

Hi all,

Currently in Hong Kong and am shocked to see the price of Daytona 116520 watches are higher than the ceramic 116500.

In 2 stores I visited (including Ken’s Watches):

116520 black face NOS HKD 170,000 / USD 21,500

116500 black face HKD 150,000 / USD 19,000


Very surprised to see these prices.

[sya]

First time I've heard of this but if true and they have the ceramic stock on hand, who would buy the 116520? The ceramic beze is a major upgrade esp for Daytona because the ss bezel is prone to scratches and almosy impossible to polish

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[fskywalker]

Both prices are really high; guess in that market the older style is more popular

[meganfox17]

About 6 months ago, dealers in Hong Kong were asking between HK150000-160000 for the Black Daytona NOS Ref 116520
I will tell you why prices are skyrocketing

✓ Discontinued Daytona 116520. Black > White seems to be the more popular model
✓ The Hang Seng Index has hit the 30000 ceiling mark and Chinese people are dumping the Chinese currency ,Renminbi into the HK Stock Market
✓ The Chinese upper +middle class population more so now than ever before have extra cash, more purchasing power to spend on Rolex watches and other luxury items
✓Higher growth demand of the Chinese on Rolex and reciprocal decreased production volume of Rolex sports watchesWould you like to know how much a Daytona 16520 A series Black is going for in Hong Kong these days ?
HK$ 230000

[railgrail]

the chinese econ is in big trouble. their "markets" will crash worse than 2008, as will US "markets".

thank the chinese for blowing this latest rolex bubble a la the bordeaux wine bubble they blew circa 2008.

but hey, the global central banks caused this Everything Bubble.

[Phrank]

Originally Posted by sya

First time I've heard of this but if true and they have the ceramic stock on hand, who would buy the 116520? The ceramic beze is a major upgrade esp for Daytona because the ss bezel is prone to scratches and almosy impossible to polish

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I would and did, the 116520 black dial was the one, had been the one for a long time, I could've gone for the new ceramic but just don't like the look.

Personally, I don't like the look of the ceramic bezels much on any of the newer Rolex models, strange I know, just prefer the old look, which is also why I went for the 16613lb rather than the new 6 digit model, that and the maxi case.

But whatever floats our boats and YMMV....:-)

[Roy_D]

I’ve noticed the same move towards parity in Melbourne Aus grey/preowned dealers as well, yay for me I guess!

[Quamby]

Delay your purchase if you could. Now is the worst time to buy a SS or Professional Rolex.

I keep telling myself what I am seeing now with Rolex is similar to what happened with the Leica M9 and M lenses in circa 2010 due to high global demand (not only China). Back then, a brand new Noctilux 0.95 lens was trading for up to US$15,500. But then the market craze fizzled and prices fell back to the MSRP in about 24-months and has been like that since.

[sya]

Originally Posted by Quamby

Delay your purchase if you could. Now is the worst time to buy a SS or Professional Rolex.

I keep telling myself what I am seeing now with Rolex is similar to what happened with the Leica M9 and M lenses in circa 2010 due to high global demand (not only China). Back then, a brand new Noctilux 0.95 lens was trading for up to US$15,500. But then the market craze fizzled and prices fell back to the MSRP in about 24-months and has been like that since.

The problem is people have been saying this for the last 1 and half or 2 years already, and prices just keep on rising. For instance back then many people would say- Heck I am not going to buy a 116500 over MRP! After a few months, I am not going to buy at $16k, and now what are the prices in grey dealers? If you decided to buy in the early grey back then, you would be very happy today. It is so hard to say when it is good price already. Back then it would seem 16k for the 116500 is insane, but now if you look back, it would have been a good buy already. No one knows when this will end, and prices are rising even monthly for certain models

[railgrail]

Originally Posted by sya

The problem is people have been saying this for the last 1 and half or 2 years already, and prices just keep on rising. For instance back then many people would say- Heck I am not going to buy a 116500 over MRP! After a few months, I am not going to buy at $16k, and now what are the prices in grey dealers? If you decided to buy in the early grey back then, you would be very happy today. It is so hard to say when it is good price already. Back then it would seem 16k for the 116500 is insane, but now if you look back, it would have been a good buy already. No one knows when this will end, and prices are rising even monthly for certain models

blow off market tops can last a while.....

[sya]

I actually think the best solution here to have a win win situation for both rolex and the buying public is- Increase prices but increase supply as well. Even if they increase prices by say 15% for the hot models, but if they can provide supply, I would have no problem with it. Grey dealers are adding at least 20% mark up to the MRP sometimes even 40% on certain models.

Problem is, no one knows the logic on why Rolex has cut down supply. If they are doing this to protect brand image / exclusivity, then that is another issue.

Maybe Rolex is saying, when people are being asked to pay for more for a Patek 5711 5167, or AP 15202 or another Royal Oak, you don't here the public complaining, they still buy it if they feel the price is right. So why can't we do it? The quality of our watches are at par, or even superior than our counterparts right? But people have so gotten used to Rolex mass production, and giving discounts that no one wants to buy a Rolex priced over retail price. But if you look at it, How much does AP charge for a ROC compared to a Daytona? How much is their Royal Oak compared to Sub/GMT? Rolex wants to protect their brand image and be more like the Patek and AP

[kcmo]

Interesting.....but not shocking. Not everyone prefers the ceramic versions, including myself.

[ciscopro2000]

Not surprised at all because all the nos popular models such as subs and gmts are selling for more than their current counterparts. It’s going to happen eventually to the 116520s as well.

[jfmiii]

Originally Posted by sya

The problem is people have been saying this for the last 1 and half or 2 years already, and prices just keep on rising. For instance back then many people would say- Heck I am not going to buy a 116500 over MRP! After a few months, I am not going to buy at $16k, and now what are the prices in grey dealers? If you decided to buy in the early grey back then, you would be very happy today. It is so hard to say when it is good price already. Back then it would seem 16k for the 116500 is insane, but now if you look back, it would have been a good buy already. No one knows when this will end, and prices are rising even monthly for certain models

"the market can remain illogical far longer than you can remain solvent."

it's a bubble. it will burst. 116500s may trade $30k before it does.

i desperately want one. im on lists. but i wont pay $20k for one. and if i never get one, oh well. ive been around markets long enough to know not to chase trades. ive also been around them long enough to know that when everyone says something can never go down, it, inevitably, will.

[Michael T]

I agree it is a bubble. I bought a lightly used Patek stainless Aquanaut 5167 in December. I sold it today as the prices had run up so much it made no sense. While I liked it a lot, it is a bubble.

[sya]

Originally Posted by ciscopro2000

Not surprised at all because all the nos popular models such as subs and gmts are selling for more than their current counterparts. It’s going to happen eventually to the 116520s as well.

yeah when you think about this, makes sense. kermit selling higher than hulk

[Bt122]

Originally Posted by meganfox17

About 6 months ago, dealers in Hong Kong were asking between HK150000-160000 for the Black Daytona NOS Ref 116520
I will tell you why prices are skyrocketing

✓ Discontinued Daytona 116520. Black > White seems to be the more popular model
✓ The Hang Seng Index has hit the 30000 ceiling mark and Chinese people are dumping the Chinese currency ,Renminbi into the HK Stock Market
✓ The Chinese upper +middle class population more so now than ever before have extra cash, more purchasing power to spend on Rolex watches and other luxury items
✓Higher growth demand of the Chinese on Rolex and reciprocal decreased production volume of Rolex sports watchesWould you like to know how much a Daytona 16520 A series Black is going for in Hong Kong these days ?
HK$ 230000

[Bt122]

Originally Posted by railgrail

the chinese econ is in big trouble. their "markets" will crash worse than 2008, as will US "markets".

thank the chinese for blowing this latest rolex bubble a la the bordeaux wine bubble they blew circa 2008.

but hey, the global central banks caused this Everything Bubble.

And how will that happen?

[Soujiro]

Not sure why you are surprised ? Aren’t the SS NOS 5 digit GMTs more than double the price of their current 6 digit counterparts ?

[teo]

I find it funny that some people want economy to burst so they can buy Rolex cheap. How much can they save by doing so? Maybe $5k? But u all must know that when economy burst more than half population may lose jobs, no salary and jobless for years. For those late 30s or early 40s good luck u may not get back the same job for years or forever. Dont say about buying watches even if paying loans for house and cars might be a problem. Unless u r cash rich during bad times.

[jay_kay]

Best of both worlds then, 116520 with a 116500 bezel!






Very please to have the option to swap and change.

[Matc]

Very interesting opinions.

I agree that NOS of discontinued models are always more expensive than the new models.

Another interesting thing is that I just went into my usual grey dealer in Hong Kong And her nephew who works there was wearing a black 116520 (they also had both ceramic versions for sale).

I asked about pricing and he confirmed 116520 is more expensive than the 116500 and he said he just flipped his BLNR for the 116520 in preference to the 116500. He even lamented not buying one 3 years ago when they were half the price!

Based on my experience in HK I’m convinced 116520 is on the up in this market at least

[kzm40]

There was a step change in the price of 116520's as soon as the 116500 was released, this happened quicker in some countries than others. And as one isn't being made anymore, the trend will only be one way. Just has it was with the 16520.

[ROLEXUS]

Pretty simple. 116520 is no longer produced and NOS examples are becoming fewer and fewer. 116500 will continue to be produced and available BNIB for a number of years..

In almost all markets, NOS 5 digit sports rolex are selling for more than their newer equivalent BNIB.

I truly believe the current SS supply is a paradigm shift. SS sports Rolex were always a far superior watch to where they sat pricing wise compared to competitors. Now's the time for the market to dictate their true 'worth'.

[alexxelor]

Originally Posted by Matc

Hi all,

Currently in Hong Kong and am shocked to see the price of Daytona 116520 watches are higher than the ceramic 116500.

In 2 stores I visited (including Ken’s Watches):

116520 black face NOS HKD 170,000 / USD 21,500

116500 black face HKD 150,000 / USD 19,000


Very surprised to see these prices.

I don't agree...

the old 116520 is out of production...

now to have one of the last 2016 116520 full set in new condition , you spend a lot more, about 28000,00 USD

[padi56]

Originally Posted by Matc

Hi all,

Currently in Hong Kong and am shocked to see the price of Daytona 116520 watches are higher than the ceramic 116500.

In 2 stores I visited (including Ken’s Watches):

116520 black face NOS HKD 170,000 / USD 21,500

116500 black face HKD 150,000 / USD 19,000


Very surprised to see these prices.

Like all prices its only what someone will pay they may be advertised prices but do they get those prices.And in the real world the 116520 is the same as the 116500 apart from the ceramic bezel and a few other purely cosmetic details.

[Highjinx]

Originally Posted by railgrail

the chinese econ is in big trouble. their "markets" will crash worse than 2008, as will US "markets".

thank the chinese for blowing this latest rolex bubble a la the bordeaux wine bubble they blew circa 2008.

but hey, the global central banks caused this Everything Bubble.

What's with the quotation marks ?

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[Mezz72]

lol $28k? really?
u want one?
i’ll get you one for $25k, deal?

Originally Posted by alexxelor

I don't agree...

the old 116520 is out of production...

now to have one of the last 2016 116520 full set in new condition , you spend a lot more, about 28000,00 USD

[Highjinx]

Nuts in HK

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[Phrank]

Originally Posted by jay_kay

Best of both worlds then, 116520 with a 116500 bezel!

<pic snip>

Very please to have the option to swap and change.

Awesome, you were the inspiration....

Personally, I chose the 116520 (mine is a V with full set) over the ceramic, had always been the one Rolex I wanted and still prefer it.

But after seeing your post, found a ceramic bezel, option is now open...

I took the bezel out of the case and just placed it on top for a pic....bezel back in the box for a future time (maybe).