"Honestly, don't sell it"

[dkast85]

If they really meant that then they would have bought it from you right away.

If someone walked into your business (that is in the business of buying items and selling them for a profit) and said "Hey I have this BLRO that I don't want anymore. I got it for $10k. Can you buy it from me for $11k?" Would you say "No sir. You can make more money off that" or would you buy it from him right away?

[zengineer]

Originally Posted by HMHM

Yeah I don’t have class. I admit that. Class is for people who don’t have to fight a day in their life for what they want. A little bit of elbows out and people will say we lack class. I take that on my chin and am proud of it.

I don't think having fought and having class are in any way mutually exclusive.

There's a difference between a reason and an excuse. Nobody has to accept an offer made to them when trying to sell a watch. It's just business, I would have thought a fighter would have developed less of a victim mentality.

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[dannyp]

Originally Posted by dkast85

If they really meant that then they would have bought it from you right away.

If someone walked into your business (that is in the business of buying items and selling them for a profit) and said "Hey I have this BLRO that I don't want anymore. I got it for $10k. Can you buy it from me for $11k?" Would you say "No sir. You can make more money off that" or would you buy it from him right away?

The way she said it was more of a: “we’re offering you a shit deal and we know it, however that’s the only way it makes sense for us.”

It was the manager, in back, who made the offer but an associate I was dealing with.

By that point I’d basically indicated it was a no-go, however.

[waynorth]

Out of the blue a month or two ago, Bob's Watches or somewhere texted and offered me $8000 for my black 16570.

[HogwldFLTR]

Originally Posted by Brich436

Hold onto that 16570 man.... you will miss it!

Add the 124270 down the line. No rush.


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FWIW, there's very little "missing mine" going on!!!

[jimcameron]

TRANSLATION

"Don't sell it to us at 1/3 of the going value because it will sit in our case for 9 months before we can unload it."

"...and no it's not a unique vintage collectable but we're glad you think so."

[BroncoOne]

Originally Posted by Speedbird-1

I've never quite seen the point of having
a cake, and not wanting to eat it.

Haha. Right. Cake eventually gets stale. Eat it fresh.

[Calatrava r]

Originally Posted by joli160

Danny was referring to an AD

An AD makes about 40% profit on a new Rolex, think a lot of grey sellers would settle for such margins.

The is the challenge as ADs think they should make 40 percent on the used stuff also.

[dannyp]

Originally Posted by Calatrava r

The is the challenge as ADs think they should make 40 percent on the used stuff also.

Exactly. Especially trade-ins. On a trade, they should be willing to have it be a wash (with a small spread built in to cover refurbishment/risk of not selling) because they’ll still make their margin on sale of the new one you’ve traded for.

[watchmaker]

Originally Posted by joli160

…An AD makes about 40% profit on a new Rolex, think a lot of grey sellers would settle for such margins.

Worth noting out of that roughly 40% markup the AD has to pay VAT. It’s not all profit.

[FTX I]

The 5 digit is my favorite no question.

[Speedbird-1]

Originally Posted by watchmaker

Worth noting out of that roughly 40% markup the AD has to pay VAT. It’s not all profit.

.....meanwhile they're making 400% margin on jewellery.
My heart doesn't bleed for them too much.

I wonder what margin is 'given' to greys on say, an MRSP of 7k that's
on the Internet for 15-20k. I suppose all the paperwork is 'straightened' for
'The Revenue' and VAT collectors.
Plenty of cash transactions I suspect.
In an unregulated market, you can't blame the black marketeers for cashing in, I suppose.

"Rolex know what's going on, and are going to do something about it"! Give me a break, it's been going on for how many years now?

"Rolex are listening"......well Rolex, it stinks, can you hear me? IT STINKS!!!

[Jonathanhumes]

I can't imagine ever selling a watch I've saved for and wanted for years. I've only a few but they are now so tough to acquire now. I hope my kids have the same passion and don't cash in ! 😜

[HogwldFLTR]

Originally Posted by dannyp

True. However I'm willing to take a 20% haircut off the "market" price right off the bat if trading. 10% for convenience/the fees charged by Chrono24 et al and 10% for the IL state sales tax saved (sales tax charged only on cash portion of transaction, like with a car).

Yes, I didn't take a hit on most of the collection although in comparison to what I'd have gotten had I sold it myself, a significant hit. Yes, convenience was a big deal for me, too. I then was able to pick up the 116506 for $65K w/o tax so that worked out quite well. And not having to take a shellacking on the ExpII and the SD was a good thing. I got to trade them towards other watches I decided I wanted. I'm pretty happy with the current collection!!!

[Watch This]

Originally Posted by Speedbird-1

I've never quite seen the point of having
a cake, and not wanting to eat it.

OMG. I'm 59 and you're right, I never realized there is no point in just "having" some cake.

[dannyp]

Originally Posted by Watch This

OMG. I'm 59 and you're right, I never realized there is no point in just "having" some cake.

So you have a Larry David avatar, but are seemingly unfamiliar with Peterman's historic cake purchase of a piece of royal wedding cake from Seinfeld?!?!

[iTreelex]

I have a 2007 black 16570 full set and will sell it to anyone here. I mean ANYONE. for 12k. lmao

[Rado63]

Originally Posted by dannyp

Walked into/called a couple of ADs last week to get a sense of what kind of trade-in value my 16570 would fetch. Two of them (one in-person, one on the phone) essentially said: "Don't sell it, it's discontinued and will only go up in value."

The in-person had made a very low-ball offer (given that mine has box/papers and 3186).

My assumption was that they just aren't that interested in trade-ins at the time but is the old Explorer II becoming genuinely collectible? My second assumption was that the recent rise in value had less to do with the collectability of the watch, and more to do with the old version being a "third best" when new ones or pre-owned current models weren't available.

So, either it's the exact right time to sell one, or the exact wrong time... Any of the serious collectors care to share thoughts (in general, not looking to discuss pricing specific to mine in any way here)?

If I understand you correctly two dealers told you not to sell it, but one did offer what you consider a low ball offer since you have box and papers and 3186 movement. Most of the so called trusted dealers on this site may not want to buy watches that don't have warranties remaining. Dealers are not going to offer what you think the watch is worth because they may need to do some service, or even if they do nothing, they have to pay you and then wait for a buyer come along. There are 527 16570 available on C24 alone at this moment, how many have 3186 I don't know. The price of this watch has escalated quite a bit over the last few years but as you said, mostly because of the difficulty in buying new models from the AD. As far as the right time to sell, that's up to you, but I would post photos and just try to sell it yourself at the price you feel comfortable with. I also am not in the camp that says you keep every Rolex you buy. The only Rolex I feel I wouldn't sell is a Daytona and I sold four of those. Those I should have kept.

[dannyp]

Originally Posted by iTreelex

I have a 2007 black 16570 full set and will sell it to anyone here. I mean ANYONE. for 12k. lmao

Mine is a 2009, and anyone offering $11,950 can take it home today! At that price, I'll hand deliver to any well-lit area within 200 miles of Chicago :D.

[scooba]

Originally Posted by watchmaker

Worth noting out of that roughly 40% markup the AD has to pay VAT. It’s not all profit.

I will just add ,I have used my AD for 28 years and he told me about ten years ago his Rolex margin had just been reduced from 34% to 32%.

[dannyp]

Update: I ended up trading it straight up to an AD for a new 124270. Did I potentially leave money on the table? Sure. But factor in tax, convenience and commissions and we're not talking much. More importantly, I have a watch I prefer and technically made money (total $ spent relative to watch I have now) on my old one.

[Calatrava r]

There is a markup in the used watch market. It is narrow at the top for the hottest watches but can go to 40 percent on high end but slow moving watches. These companies have to make a living and pay bills. Selling to them is a way to avoid the hassles of private selling too numerous to list and is a cost of varying the collection. My experience is on most pieces buyers will pay more to a well known watch dealer with returns, guarantees, free shipping and who has a high degree of trust than they will to a private seller who is relatively unknown. So the price difference in the end is not as much as you think. Selling to an AD never makes any sense because they think they should get a 40 percent margin on everything, new or used.

[dannyp]

Originally Posted by Calatrava r

There is a markup in the used watch market. It is narrow at the top for the hottest watches but can go to 40 percent on high end but slow moving watches. These companies have to make a living and pay bills. Selling to them is a way to avoid the hassles of private selling too numerous to list and is a cost of varying the collection. My experience is on most pieces buyers will pay more to a well known watch dealer with returns, guarantees, free shipping and who has a high degree of trust than they will to a private seller who is relatively unknown. So the price difference in the end is not as much as you think. Selling to an AD never makes any sense because they think they should get a 40 percent margin on everything, new or used.

That’s one way to look at it, and by no means wrong. However, doing the calculations, for those wanting to buy a new watch from an AD, it makes more sense than it may seem.

Let’s say convenience weren’t a factor, and I could have sold for the $9,800 c24 “estimated” I would be able to. Hell, let’s bump it up to $10,500 for the 3186...

First is the 6.5% commission from c24. That’s $700 gone.

Technically, I would then be liable for capital gains tax on the $5,000 profit. Call it 20% and I’m out another $1,000.

Now I’m at $8,800.

On the other hand, I’m looking at a $6,450 watch. Add state sales tax and we’re at just under $7,100 here. A straight trade is $1,600 less than the absolute best case scenario. A guarantee itself is also worth something...

[Roddypeepa]

Originally Posted by HMHM

Yeah I don’t have class. I admit that. Class is for people who don’t have to fight a day in their life for what they want. A little bit of elbows out and people will say we lack class. I take that on my chin and am proud of it.

Absolutely fair point. We don’t all get born with a silver spoon in our mouths.


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