My 16610 has lost 25% value in 2years

[arty11001]

Hi All,

Been thinking of trading in my 2007 'Z' series 16610 sub. I purchased this from Blowers exactly 2 years ago. I'm fancied a swap for a 16600 sea dweller as I felt like a change and thought something a little chunkier with the same look would be nice. But, I thought I wouldn't have lost too much on the value in the last two years as I've heard Rolex hold their price pretty well. When I asked for a trade in value, it's lost £1200! Surely this can't be right?? Can it?? What's the general consensus on this? Am I being offered a really pants trade in price? All the other subs for sale at Blowers are around £4.5k. Mine is a decent late one and is in good condition with box, papers etc etc. any views most welcome. If this is indeed true, I'll hang onto the sub as I don't fancy losing that much, I also don't think it's worth another £1-1.5k extra for a similar year/older SD. Pretty gutted my so called investment into Rolex is worth a quarter less in only 2 short years!

Any advice guys?

[etp095]

You should try to sell it yourself, trading it in, is just like trading in a used car to the dealer. You usually get more quids selling it yourself. What's their offer? I usually see them for sale around here for $5-$5800 bucks. I paid $4600 new for mine,in 2007.

[TimeToGo]

It's called double dipping. They make money on the sale, plus your trade in..

[artschool]

watches aren't investments

[arty11001]

Yeah, they're certainly trying to! There's no way I'm letting it go for what they offered me... I don't dislike it in the slightest, just fancied a change. Never tried a SD on et other to be fair, I may not be that fussed about it. I've also heard it wears smaller because of the smaller dial size too, so may not be a worthy swap anyhow. Just took me by surprise how cheeky the offer was, when they sell all their others of similar age etc for a grand more!

[arty11001]

Understand they're not investments, but didn't think they depreciated that heavily and so soon! I've lost plenty on other watches over the years... But was lead to believe Rolex were pretty strong in holding value.

[Hairdude1]

Look at it this way, it only lost 1,200 compared to other watches which can only hold 50% of their value or less

[Q8i]

Trading is always win/win bargain dealer's favor, That's how they make a living. Sell it to someone want it to get the most out of it not someone who will resell it immediately! . And then bring the (power cash) for the SD. you may get even too.

[arty11001]

Hmmm fair enough guys... I'll try and take it on the chin then. Just disappointed I guess. When I traded my Speedmaster Pro, they were great (only lost £300 on it after 18 months) so kind of expected similar drops... Maybe £500 or so. Never mind, like I say... It's not like I'm mega bored with the sub or that I don't like it or anything... I'm very happy with it. Still looks exactly as I bought it and has been the only watch I've owned that just felt 'right'. It's more that I feel a bit flat knowing how much it's dropped.

[arty11001]

Out of interest... Does anyone have both (or had both at some point) to compare the two? Is a SD worth the change anyway? I'm talking 16600 not the new style.

[Tomas Eriksson]

The SD is a trade up, if it speaks to you then do it. What is the price if you would buy it without doing the trade? You could most likely do better selling the sub separate.


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[arty11001]

They appear to be somewhere between £4500 a £4900ish. Obviously this isn't private sale so know it will be a little more.

[Passionata]

Originally Posted by arty11001

Out of interest... Does anyone have both (or had both at some point) to compare the two? Is a SD worth the change anyway? I'm talking 16600 not the new style.

An SD is a nice watch with features you never use-except if you are diver-,it has a much thicker,heavier case ,it has no cyclops over the date and a He valve.it doesn t fit properly under shirt cuffs and it s proportions worse than the Sub s.

Just my 2c

[Nairn1980]

I'm with you here. I've tried to trade in mint Rolex models in the past including LV, SubC and Daytona to the big groups who offer px.

The offers have been beyond insulting eg £3,000 for a LNIB SubC....if they brought in at £3k they need to send it for a service whether it needs it or not, plus pay VAT on any margin. If they advertised it in their window for £4,500 they've already got a service cost, less whatever someone haggles off, less vat.

That's their way of thinking however a walk through glasgows argyle arcade and the big groups pre owned stock is vastly over priced eg £5495 for a pre ceramic GMT, £4,500 for a used Milgauss, £6,950 yes £6,950 for a 2007 sea dweller. Knowing what they pay for px their margins are beyond healthy.

Their offers are always completely low ball and I would never trade in to them. Don't give them the profit opportunities.

Always sell privately for between trade and retail price.
I have always sold privately and got way more than their px offer.

In reality you have not lost what you think you may have lost.

Hope this helps

[A.I.]

Originally Posted by Nairn1980

Knowing what they pay for px their margins are beyond healthy.

Their offers are always completely low ball and I would never trade in to them. Don't give them the profit opportunities.

I imagine the costs of running a business in the Argyll Arcade in Glasgow are 'beyond healthy' too.

Profit is not a dirty word.

[arty11001]

Thanks Nairn, that helps me a lot! Puts it into context for me and know now that it's par for the course! I just assumed (probably naively) that as they sell SD's and Subs for similar prices give or take a couple of hundred either way and a few years in age either way, it would be about trading in plus a bit extra... Not 25% extra for the same watch! I know they're a business etc and have to say I've been pretty happy with them previously (which is why I called them in the first place). They would have to do nothing more with mine other than stick a grand on its value and re-sell it. Anyway, doesn't look like I'll be swapping now!

[A.I.]

Originally Posted by arty11001

They would have to do nothing more with mine other than stick a grand on its value and re-sell it. Anyway, doesn't look like I'll be swapping now!

I'd go back to them and let them know you are an existing customer looking for a better deal. Blowers are not the cheapest but they are a savvy company who I'm sure value their customer base.

Remind them you're a Yorkshireman ;)

Don't give up yet.

[brookish]

The best 'value' is when you buy a good second hand at a good price. You will not usually feel the blow when you sell it. It is in no way an 'investment' unless you find a very unique piece. I also don't understand why you would sell it to a dealer. Like everyone else says, sell it yourself and you will probably get the same you were expecting...

[dysondiver]

bear in mind a thousand of that twelve hundred was in the first afternoon of ownership , after that its only two quid a week , thats 30p a day , or little over a penny an hour ,,, and that loss figure wont change much for the next couple of years ,,,

rolex sports watches are a bargain.

[arty11001]

Well, I bought secondhand originally as I don't like the new shape sub as much. So, after a bit of looking, found that Blowers had the best examples albeit slightly more than others by a couple of hundred, though not much. As mentioned though, examples are being sold by them now for the same as I paid 2 years ago, hence why I didn't think the drop would have been quite so severe. I traded in my Speedmaster pro (which I also bought from them) after owning it about 18months and lost very little doing that against the Rolex. I figured going back to them yet again on a change to be similar in that I'd expect to lose a few hundred, (maybe 400-500 tops), not 12!!

Totally understand that they're not for an investment. Never bought it for that, but did hope for it to be a relatively safe bet in not losing much money if I ever changed it. I lost a load on an IWC aquatimer years ago and didn't want to be burned quite so badly again.

The reason I called them first, is because I've traded and bought from them twice now. Always felt that they were decent trades even though I'm sure you can do better privately. The ease was good and the offers were ok, so why not. This time around, I'm disappointed. Whilst I'm not wanting this thread to be in any way negative towards them (as I've always been happy with things previously) I'm just taken back by how much their perceived value has dropped when that's not reflected in what they sell.

Don't think I want the SD 'that' much to be honest. If it was not too dissimilar to swap against one, I was going to look into it further. I don't need any of the extra features. I'm not a diver, don't need the depth rating, don't need HEV and don't mind the cyclops on the Sub... Just fancied a change! Thought the chunkier case may be nice, but having never tried one on, it may not be as nice as I imagine.

[dysondiver]

all good points ,,, some times change for change sake isnt the answer ,, try on a datejust ,,, might be an addition , not a replacement ,, just a thought.

[1William]

I understand your feelings and the other members have covered many of the options and reasons for what is going on in the trade. I believe a deal is to be had for your watch and a similar SD. Go back and discuss with them again, involve the manager as a step if needed, negotiate and see if you can work the difference in cost down. If they meet your number or are close step up and get your watch. If not, there is more than one dealer who would work with you and would like your business. Also, I never look at a watch as an investment. In the end, look at how long you have owned the watch, what you paid and what the difference is in your final sell or trade. That is what the watch cost you. Now divide it by the number of days of ownership and the number for me is usually laughable. Wear a Rolex for a few dollars a day? It will work out, enjoy your watch.

[Nairn1980]

Originally Posted by A.I.

I imagine the costs of running a business in the Argyll Arcade in Glasgow are 'beyond healthy' too.

Profit is not a dirty word.

I have no doubt of their costs but there are far more cost effective ways from a customer point of view. They may want to make big profits from both sides but as a savvy customer I would want as much ££ on my side.

I would put your watch up for sale on here at your target price and see how you get on. I have also sold via gumtree before several times with success.

Then with the money in your paws go and source the watch you want and bargain hard as a cash buyer who is ready to do the deal.

The "cost to change" will be much more appealing and you will feel much happier after the small amount of leg work.

[arty11001]

Thanks a lot for all your help guys... Much appreciated.

I'll have a good think about it, as I'm no rush whatsoever to sell. Bit of a limbo moment really, as I don't want to sell and then have nothing until I find something... Hence why going to look at trading in. On the other hand, I'm not even entertaining such a low trade in/cost difference. What's the general thoughts on what difference to swap is? Not ridiculously high or low, just a general feel?

[Wahlberg]

Originally Posted by Nairn1980

I have no doubt of their costs but there are far more cost effective ways from a customer point of view. They may want to make big profits from both sides but as a savvy customer I would want as much ££ on my side.

If you are a savy customer you wouldn't even bother to go to them and ask for a trade-in offer.

It's common sense that they make a lowball offer. Buy cheap and sell with a profit, it happens literally everywhere.

[cenzor]

Originally Posted by arty11001

Understand they're not investments, but didn't think they depreciated that heavily and so soon! I've lost plenty on other watches over the years... But was lead to believe Rolex were pretty strong in holding value.

Well, you have probably the most common Rolex , everyone and his brother wears it.
Quite normal with such oversupply that the prices not very optimistic.

[arty11001]

True, but that works both ways in that there should always be demand I guess. I'm also looking to swap it for something relatively common too. Rarity isn't my desire in fairness. Point taken though!

[Passionata]

Originally Posted by cenzor

Well, you have probably the most common Rolex , everyone and his brother wears it.

Quite normal with such oversupply that the prices not very optimistic.

Yes and no the most common is the DJ and a good Sub is still an easy job to sell

[Welshwatchman]

The thread has helped to correct your initial assessment.

If you had bought the watch privately and sold privately you have likely lost nothing over the two years of ownership. Also, the price difference between the 16610 and 16600 was and is around a grand.

What you experienced is a ''bottom book'' offer against a ''top book'' purchase and therein lies the problem.

I was once offered a laughable £1200 for my 14060m cosc by W.O.S. as a trade in against an Omega that caught my eye. It would have cost me £1800 to change.

Instead I waited a couple of years for the Omega to hit the real world.

I sold the 14060 for £3850 and bought the Omega for £2100.

£1800 from me (never would have let it happen) turned into £1750 in my pocket.

Two entirely differently toned threads that would have been.

[Nairn1980]

Originally Posted by Wahlberg

If you are a savy customer you wouldn't even bother to go to them and ask for a trade-in offer.

It's common sense that they make a lowball offer. Buy cheap and sell with a profit, it happens literally everywhere.

Not necessarily true. They did offer particularly low ball offers compared to others. Also I may have been happy with a lower offer for the convenience aspect of it.

However some offers can be so low that they make no sense.

At least if you ask and get the figures both ways you can make an informed decision.