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Old 13 July 2022, 03:51 AM   #31
Calatrava r
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Wasn't it foreseeable, many people would attempt to sell their watches as the used market prices started to soften to protect their gains? Hopefully, the situation improves at retail soon with the used market prices coming down to earth.
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Old 13 July 2022, 03:54 AM   #32
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Wasn't it foreseeable, many people would attempt to sell their watches as the used market prices started to soften to protect their gains? Hopefully, the situation improves at retail soon with the used market prices coming down to earth.
I think it has already started. Already see a bunch incoming posts that aren't hot models like two tone explorers or sea dwellers. Just a matter of time until DJ's and subs are back on the displays sitting again.
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Old 13 July 2022, 03:55 AM   #33
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I was going to raise some cash by selling a Smurf. I was hoping to at least get what I paid retail at my AD in 2019.

Boy was I mistaken. I called Bob’s watches and they said they would take it on consignment and charge 17.5%. They weren’t interested in buying outright. They said sales price would be like $40,000 (so I would only get back $33,000.) holy guacamole !

Also David SW has one on their website for $59,575. Yet I called a salesman at David SW….nice guy. He talked to David and said David wasn’t interested. Didn’t even give me a ballpark price. I might go to big local jewelry exchange in Miami and see if I can get an offer. For such a crappy amount I might be keeping it.

Your best bet is consignment for a watch like that. Bob's is laughable. There are plenty of dealer's that will consign that watch at 6%-8%
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Old 13 July 2022, 03:56 AM   #34
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I am afraid you are a bit late to the game. The Gray realizes the games up. Now, its like a lion with zebras. The Zebras see the lion, and being careful not to move, just waiting but they know what time it is. The games is up, interest rates will continue to rise, war in Ukraine will drag on with no end in site. There is simply no good news to keep supporting this absolute bananas run away market that has been going on, fueled by cheap money for over a decade. They know the market is not good, and are likely being very, very cautious. They can't reduce advertised prices too much, too fast as that can create a tsunami and very fast crash. What they are trying to do, is 1) create the illusion that all is well, by holding prices high-with likely collusion by the larger outfits and 2) ceasing buying new stock as they will get caught holding the bag. Now, they will get caught holding the bag, because who wants to buy when things are bad and have a long way to go and speculators have figured out that no one needs watches anyway and it was probably a silly idea to keep so much $$ tied up in watches. Titanic is sinking folks, and the band will play on as it goes into the water and sinks to the bottom.
The used market game is never up. Used market dealers buy at market and sell at market. Many have been doing this for over 50 years at this point. i remember the days were used watches sold at big discounts to MSRP and there was no shortage of anything at retail and the resellers made money.
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Old 13 July 2022, 04:02 AM   #35
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I have had it many times and think it’s a great watch. The dial is lots of fun. But unfortunately like the 116500s attracted the most entry level of speculators.
Agreed! I actually thought it was a quirky watch, which I enjoyed. But to see it go from virtually unwanted to one of the most hyped watches on the planet in a span of ~4 years was strange.
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Old 13 July 2022, 04:05 AM   #36
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due to the negative atmosphere here i would say perfect time to buy
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Old 13 July 2022, 04:06 AM   #37
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Yeah it is. Historically speaking WG Rolex were dogs. That was a 20k watch not long ago preowned.

Even funnier is all the people trying to dump 116610LVs. That was a cesspool of speculators. They are down to 20k and will be 15k by end of year at this rate.
Man it doesn’t seem like that long ago does it
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Old 13 July 2022, 04:06 AM   #38
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due to the negative atmosphere here i would say perfect time to buy
Big greys aren't buying so you take that as a sign to buy more?
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Old 13 July 2022, 04:07 AM   #39
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Old 13 July 2022, 04:08 AM   #40
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Old 13 July 2022, 04:09 AM   #41
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Big greys aren't buying so you take that as a sign to buy more?
but big greys are also not lowering their prices as much so they're not moving their inventory. look at david's prices vs what you can apparently get on moda. there's no real reason for him to buy off us vs getting it at wholesale for super cheap from some dealer in trouble, and lowering his prices to near wholesale will cause a spiral in the market
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Old 13 July 2022, 04:11 AM   #42
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due to the negative atmosphere here i would say perfect time to buy
At MSRP, perhaps.
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Old 13 July 2022, 04:24 AM   #43
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Was just told the following by prominent seller on the Forum:

…the market is going to get worse, Im going to take a loss on a bunch of pieces. Im not buying anything unless its a steal, not worth the risk…
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Old 13 July 2022, 04:25 AM   #44
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Was just told the following by prominent seller on the Forum:

…the market is going to get worse, Im going to take a loss on a bunch of pieces. Im not buying anything unless its a steal, not worth the risk…
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I'm sure besides the few big greys, all of them are anticipating this.
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Old 13 July 2022, 04:42 AM   #45
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Where's the guy who insists that his 2 or 3 watches have actually gone UP the last few months?

I know with stocks that trying to sell into a down market with an illiquid stock is a recipe for disaster. I don't "invest" in watches and don't look at them that way, but imagine here as spreads widen and the typical gray buyers stop buying, and prices decline, that it will indeed get worse before it gets better. Worse meaning lower prices.

Fine by me!
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Old 13 July 2022, 05:04 AM   #46
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I’m holding out for that bnib 1016 for about $2000
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Old 13 July 2022, 05:28 AM   #47
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Soon when flippers/backpack dealers are out of this watch market, everyone will realise that there isn't any shortage of watches at all.

OP should consider selling it privately. You probably still get back below MSRP, but definately higher than $33k. GLWS.
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Old 13 July 2022, 05:37 AM   #48
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Anyone worried about prices should hedge their watches via shorting WOSG! They are in big big trouble if we go to MSRP!
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Old 13 July 2022, 05:47 AM   #49
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https://www.businessinsider.com/role...may-2022-5?amp

Prices go up ,prices go down , rinse and repeat. Happened in 2008 to Vintage watches. They got creamed. No surprise that still manufactured watches would meet the same fate when money tightens up in 2020.
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Old 13 July 2022, 05:51 AM   #50
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Wasn't it foreseeable, many people would attempt to sell their watches as the used market prices started to soften to protect their gains? Hopefully, the situation improves at retail soon with the used market prices coming down to earth.
I don't really have any hope that the retail market will get easier anytime soon, especially after reading Jack Forster's article about supply and demand for Rolex. However, I'd like to see gray market prices on basic SS Rolex models get at or near retail, if not a little below. I've got two current Rolexes, and want to add two more (Explorer I and Air King), so I can pass on two Rolex watches each to my sons in the future.
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Old 13 July 2022, 06:05 AM   #51
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It seems everyone here is a watch price, economic expert with a crystal ball now.
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Old 13 July 2022, 06:14 AM   #52
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It seems everyone here is a watch price, economic expert with a crystal ball now.
Okay. Fair enough.

So why aren’t the greys buying?

I think that’s a valid question since they say “it’s now the time to buy”. So why aren’t they practising what they preach?

People like DSW are not even offering a price as stated by OP. Not even an offer for OP to consider.

Greys should be BUYING LIKE CRAZY NOW! BUY THE DIP as they often say!
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Old 13 July 2022, 06:18 AM   #53
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Greys should be BUYING LIKE CRAZY NOW! BUY THE DIP as they often say!
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Old 13 July 2022, 06:19 AM   #54
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seen a Pepsi go for £16k bnib on eBay this week, appears these hype watches are loosing value fast - which is great cause I want to buy one soon
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Old 13 July 2022, 06:22 AM   #55
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It did and I agree it was a steal per-se, but not stollen though.
Bought it from a credible private seller who likes me.
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Great price! Any idea why he was selling, just because or needed the money?
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Old 13 July 2022, 06:25 AM   #56
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Keep the watch. Wear and enjoy. These were always about how they made you feel. If you really need the money dump it for the loss. Otherwise wear and enjoy and revisit selling in 5 years
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Old 13 July 2022, 06:27 AM   #57
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i think the bigger issue right now is grey's using this as an opportunity to get your watch for cheap using these excuses, and to get it on consignment as well. what do they care if it sells for $45k or $50? its free for them anyway and its your money. Just the way the market is right now. i also wouldnt rely much on Bob's watches, they've been scummy in the past. Just do a search on them.

reach out to a few resellers on here. someone might bite or have a buyer. and 17.5% fee is way too high. its usually 5-10% from what i've seen.
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Old 13 July 2022, 06:42 AM   #58
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I’d rather be below msrp than have these forums polluted by price threads, robbery threads, and other trash that these high prices attracted.
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Old 13 July 2022, 06:43 AM   #59
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The nouveau watch ‘enthusiasts’ and collectors have left the room and are never coming back. They enjoyed flexing luxury timepieces for a period when there was zero cost of ownership, or even a potential for profit. It was treated as portable currency/store of value with the added benefit of giving the illusion to the uninformed public of having a large disposable income.

Aside from some rare discontinued pieces and collectible vintage stuff, used or grey market watches should generally be cheaper than a new one purchased from an AD. Supply will catch up as Rolex continues to pump out nearly 1,000,000 pieces per year.
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Old 13 July 2022, 06:44 AM   #60
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i’d rather be below msrp than have these forums polluted by price threads, robbery threads, and other trash that these high prices attracted.

100%
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