Bob's forecasts the market collapse

[furious1]

tl;dr for a lot of you, sorry!

I apologize if I am breaking some forum rules, but I searched and found no threads on this topic. Mods please move or remove the post as you see fit.

I sent photos of my 16570 polar, serviced in LA last year, warranty until 2019, to Bob'. Their "sell" price is $3300. Ask price is $4595. I get an email right away, awesome customer service! $3300 is the offer. They market themselves as an exchange, so I'm happy that it works that way. There's an offer and an ask, you decide whether the margin is right for you.

So, then I get a call asking me to call them to finalize. I do, and the sales associate says well, really the offer is $1700. I was shocked of course. My 16570 polar doesn't have a bracelet but surely 40% of a Rolex isn't in the bracelet... right?

I told her that there was no way that Bobs was going to sell any 16570 for less than $3500, it would be detrimental to the market that they in part created. If all of our modern Rolex sports are worth basically nothing without the bracelet, it's time to sell sell sell sell.

This isn't the first time that I've encountered Bob's just not knowing what they are doing or being manipulative. A friend paid retail for a 1655 from Bobs in 2015, it looked great, everything seemed to be correct. A very knowledgable collector/dealer spotted it, thought the color of the steel case wasn't right. Sure enough, service case, later steel. On a five-figure watch with no disclosure from Bobs. They refunded his money after a lot of back and forth, after finally the expert had to vouch for it, and his word is word. What wasn't clear to my friend should have been to a retailer that offers a frictionless Rolex buying experience. Bobs sold this service case 1655 again for full a strong full retail 1655 price (or at least it was on their online site and then gone) a few days later. I realize this sounds a little weird about spotting the steel but I'm also guessing there are some of us on the east coast who have encountered and benefitted from the expertise of this Rolex guru.

My problem here is not that my 16570 got a low ask, I'm no stranger to 47th street in NYC. My problem is that Bob's goal is to bring "transparency" to the used Rolex market. See Forbes: https://www.forbes.com/sites/susanad.../#26ac1a4f6e01

When they don't disclose service cases on five-figure Rolex, or completely misrepresent a "sell" price on a modest 16570, they are screwing every average Rolex collector over. They are saying, yep there is no floor. You may have well bought a Steinhardt.

[henrylee]

Just sell it to a TS here.

[Fleetlord]

The 16570 is the absolute softest of the SS Rolex Sport models in terms of resale. White dials have really fallen out of favor in the market and the lack of a bracelet definitely hurts the value as fewer buyers will go for that...

This is a case of to whom you are selling to and what THEIR customer base will be interested in.

Some dealers would HARD PASS on this piece without hesitation. No offer whatsoever. Just too hard to move in the existing market.

Others, like Bob will treat as an exchange and give you ICE COLD commodity value for the piece...

Your best bet might be a vintage dealer whose customers are more tolerant of watches without bracelet and box/papers and would snap up a lower cost version of that watch...

[Loevhagen]

The thread title is misleading. It should read - according to your own words - something in lines of "Bob's being manipulative".

[GageTucker]

Not my experience. They gave me the highest offer when I sold them my 114060.

[Cru Jones]

No bracelet and 16570? Not shocked....

[HogwldFLTR]

Originally Posted by Cru Jones

No bracelet and 16570? Not shocked....

I agree!!!

[Fleetlord]

Originally Posted by Cru Jones

No bracelet and 16570? Not shocked....

Pillowy soft for sure..

[kearez]

Any else think the current prices of 16570 is a good deal if your looking to buy? Looks like a good conidition is 5.1k.

[Vaxe]

Bob's is pretty much the worst place for anyone to buy a Rolex online. Stick with trusted sellers here for actual provenance and better value.

[Boaters]

Trusted sellers here are on the up and up.

[Andad]

You joined the Forum just to tell me this?

Who are you?

BTW it's Steinhart.

Mine keeps excellent time as does my Grovana.

[Ruud Van Driver]

Originally Posted by Loevhagen

The thread title is misleading. It should read - according to your own words - something in lines of "Bob's being manipulative".

I'm glad you wrote this. I thought the thread title was misleading too

[Star Ferry]

$3,300 was their offer for a complete 16570. they're low-balling you at $1700 not because it's a $1,600 bracelet but rather because they now have to source and attach one. On top of that, most ExpII buyers probably want the 42mm version.

this thread has nothing to do with a "market collapse" IMO

[tyler1980]

Originally Posted by Star Ferry

$3,300 was their offer for a complete 16570. they're low-balling you at $1700 not because it's a $1,600 bracelet but rather because they now have to source and attach one. On top of that, most ExpII buyers probably want the 42mm version.

this thread has nothing to do with a "market collapse" IMO

+1

If i was them, i wouldn't offer anything. Its not worth the trouble to make it sellable for a piece that is just going to sit for a while.

They probably offered so low because they didn't really want it after finding out it was lacking a bracelet and that was the easiest way to do so.

[Abdullah71601]

Originally Posted by Fleetlord

The 16570 is the absolute softest of the SS Rolex Sport models in terms of resale. White dials have really fallen out of favor in the market and the lack of a bracelet definitely hurts the value as fewer buyers will go for that...

This is a case of to whom you are selling to and what THEIR customer base will be interested in.

Some dealers would HARD PASS on this piece without hesitation. No offer whatsoever. Just too hard to move in the existing market.

Others, like Bob will treat as an exchange and give you ICE COLD commodity value for the piece...

Your best bet might be a vintage dealer whose customers are more tolerant of watches without bracelet and box/papers and would snap up a lower cost version of that watch...

Excellent summary.

[superstarmar]

I wouldn't do business with Bobs...
Plenty of TS here on TRF so trustworthy.... !!!

[Abdullah71601]

Originally Posted by superstarmar

I wouldn't do business with Bobs...
Plenty of TS here on TRF so trustworthy.... !!!

Their sell prices are about the same as other B&M stores. Look at Govberg and Paul Duggan as examples. A slow mover with no B&P or bracelet won't get a good offer from anyone.

A TS with low overhead might be able to offer more, but would be more likely to pass altogether.

[superstarmar]

Originally Posted by Abdullah71601

Their sell prices are about the same as other B&M stores. Look at Govberg and Paul Duggan as examples. A slow mover with no B&P or bracelet won't get a good offer from anyone.

A TS with low overhead might be able to offer more, but would be more likely to pass altogether.

Was making a general statement... but on that
particular model it's a tough call ...

[Abdullah71601]

Originally Posted by superstarmar

Was making a general statement... but on that
particular model it's a tough call ...

For their buy offers, I think you are correct and they are generally too low. They know they will polish and do an in store service, but aren't up front with that when they make their initial offer.

I wouldn't go as far as to say they aren't trustworthy though. They aren't selling fakes or misrepresenting customized watches.

[Wcdhtwn]

Originally Posted by kearez

Any else think the current prices of 16570 is a good deal if your looking to buy? Looks like a good conidition is 5.1k.

No, based on classifieds here $5.1 is high. Low to mid $4's is better unless it's a 3186 movement then low 5's.

[ejvette]

Bobs uses a tried and true formula for business success.... buy low and sell high

[kearez]

Originally Posted by Wcdhtwn

No, based on classifieds here $5.1 is high. Low to mid $4's is better unless it's a 3186 movement then low 5's.

I guess a 3186 would make sense. Thanks for the info I might be interested in one, so ill be looking for mis 4s.

[jhilly8982]

Originally Posted by kearez

Any else think the current prices of 16570 is a good deal if your looking to buy? Looks like a good conidition is 5.1k.

I own one and love the white dial. I have considered buying another one out of spite for how cheap you can get them.

[GB-man]

Your watch is a dog unfortunately. Better to keep it. It's a great casual piece on a NATO.

[Wesley Crusher]

Worst thread title. EVER!!!

[beshannon]

Originally Posted by furious1

Bob's forecasts the market collapse

I use sell stop orders so I am good thanks.

[mjclark32]

Originally Posted by beshannon

I use sell stop orders so I am good thanks.

How do you do that with watches?

[Chewbacca]

#fakenews

[gmh1013]

Bob's is the LAST place I would look for a used Rolex....20+ year old models at close to current prices....pass