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Old 8 September 2020, 01:20 AM   #1
baamvino
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Am I crazy enough to accept this offer?

Hi guys, do you guys think I am too crazy to buy this 16610LV Kermit, V-series(Year 2010), Full-set, at $17,000? The seller told me that it has never been polised or serviced before. My two important questions are -

1) Do you guys think the price is too much for a 10-year old watch?
2) Do you guys think this one is in mint condition and unpolished?
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Old 8 September 2020, 01:23 AM   #2
1William
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1. Yes
2. Can not tell.
There are a lot of other watches out there that you can put 17k on and not have those questions.
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Old 8 September 2020, 01:23 AM   #3
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No it's not in mint condition, mint condition would mean no scratches.
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Old 8 September 2020, 01:23 AM   #4
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It looks very nice.
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Old 8 September 2020, 01:25 AM   #5
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Thats a crazy price for a 10 year old SS Rolex.
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Old 8 September 2020, 01:27 AM   #6
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Holy moly, I don’t want to be speculative but if this market does come back to reality, these prices are going to be eye watering. This watch used to sell for peanuts compared to that, even a mere 6-7 years ago. Same thing with the 5 series Pepsi/coke.

Buttttt your money your watch!
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Old 8 September 2020, 01:28 AM   #7
baamvino
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I know it's crazy..the price has gone up so high..
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Old 8 September 2020, 01:29 AM   #8
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nowadays the prices for almost all desirable models in the grey market look crazy, and the prices changing every week going up. Prices will be high and unlikely to change in the near future .
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Old 8 September 2020, 01:30 AM   #9
Rolexoman
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There is no way....to many other options
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Old 8 September 2020, 01:32 AM   #10
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I can think of dozens of watches I would purchase over that one for $17,000.
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Old 8 September 2020, 01:34 AM   #11
baamvino
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What would be other options at $17K? Can't think of many..
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Old 8 September 2020, 01:41 AM   #12
sp006
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Originally Posted by baamvino View Post
What would be other options at $17K? Can't think of many..


At retail? Or at market values?


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Old 8 September 2020, 01:43 AM   #13
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I would hold off, I don’t even think that is flat “4”
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Old 8 September 2020, 01:44 AM   #14
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$17k today. $20k next year? Who knows. It’s not mint but it’s in very good condition specially it has not been polished. If you can afford it, why not. Flat 4 are going for a lot higher. DavidSW is asking over $20k for a hulk. So $17k isn’t so bad if the watch has no dings.
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Old 8 September 2020, 01:44 AM   #15
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Trade in that Daytona, Sub, and GMT2 you have for a PM piece
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Old 8 September 2020, 01:50 AM   #16
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For a few thousand less I would buy a new Speedy 321.
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Old 8 September 2020, 01:50 AM   #17
vinny84
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For $17k I think it would be time to move on and look at other options, but that's just me
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Old 8 September 2020, 01:52 AM   #18
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Thats a lot of money for a green bezel. You do realise thats what you are paying for here.

Have a look at a 10yr old Sub with black bezel insert.
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Old 8 September 2020, 01:52 AM   #19
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Not a good buy..
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Old 8 September 2020, 01:54 AM   #20
baamvino
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both

Quote:
Originally Posted by sp006 View Post
At retail? Or at market values?


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at market value
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Old 8 September 2020, 01:55 AM   #21
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I can think of dozens of watches I would purchase over that one for $17,000.

This
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Old 8 September 2020, 02:04 AM   #22
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This is always a difficult topic but here’s my and I hope this helps...40 years ago or so, a 16610 cost you about $1200 from an AD. That same watch (from that time period) today sells for @ $7-$10,000 on the secondary market, depending on overall condition, and in some cases, even higher. 20 years ago, that MSRP was closer to $5000, and could be bought at a discount. Now, that watch ranges $10-$12,000 and are available in a much higher quantity. Overall though, the rarer the watch, the more someone is willing to pay for it - even in SS. Look at the 5711. MSRP is just shy of $30,000, yet people spend more than double, and even close to triple, on the secondary market because it is a rare, exclusive watch. Now, the LV isn’t necessarily “exclusive,” but it is rarer than most, and prices for it will always be abnormally high. With the exception of the Pepsi, that seems to have settled in @ $17 - $18,000, prices almost never go backwards. Even if the market crashes, it doesn’t stay there, and usually bounces back better than before. Long story short, if you have the means, buy the watch. Don’t get caught up in the resale value. Capitalism will always push the economy forward, even during/after turbulent times. And with inflation, you’re almost guaranteed not to lose your money on this watch. Buy it, enjoy it, and don’t look back! All the best my friend -
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Old 8 September 2020, 02:13 AM   #23
broham84
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Quote:
Originally Posted by AntonisCy View Post
Thats a crazy price for a 10 year old SS Rolex.
Not sure if serious... Paul Newmans are 50+ years old, big crown subs are even older, do you know what they are going for? Cannot assess the price based on its age, especially in watches.


Quote:
Originally Posted by baamvino View Post
I know it's crazy..the price has gone up so high..
I actually don’t think it’s a crazy price. If you like it, go for it. The condition is great btw.
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Old 8 September 2020, 02:19 AM   #24
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Quote:
Originally Posted by mdx77 View Post
This is always a difficult topic but here’s my and I hope this helps...40 years ago or so, a 16610 cost you about $1200 from an AD. That same watch (from that time period) today sells for @ $7-$10,000 on the secondary market, depending on overall condition, and in some cases, even higher. 20 years ago, that MSRP was closer to $5000, and could be bought at a discount. Now, that watch ranges $10-$12,000 and are available in a much higher quantity. Overall though, the rarer the watch, the more someone is willing to pay for it - even in SS. Look at the 5711. MSRP is just shy of $30,000, yet people spend more than double, and even close to triple, on the secondary market because it is a rare, exclusive watch. Now, the LV isn’t necessarily “exclusive,” but it is rarer than most, and prices for it will always be abnormally high. With the exception of the Pepsi, that seems to have settled in @ $17 - $18,000, prices almost never go backwards. Even if the market crashes, it doesn’t stay there, and usually bounces back better than before. Long story short, if you have the means, buy the watch. Don’t get caught up in the resale value. Capitalism will always push the economy forward, even during/after turbulent times. And with inflation, you’re almost guaranteed not to lose your money on this watch. Buy it, enjoy it, and don’t look back! All the best my friend -

Absolutely this. Buy the right watch, keep it, enjoy it, forget about resale values.

5 digits will keep rising in my eyes. Especially the unpolished and well looked after full sets.
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Old 8 September 2020, 02:38 AM   #25
Nikrnic
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It looks good to me as far as i can see from your pics, can't say if it's mint though. The price seems to be in line on today's market for a full set, if not a first year 03 anniversary flat four then I would rather go for the last year of production like this, so the money seems relevant. Again, as far as the price goes thats your decision if you've been shopping I'm sure you have a good idea. They don't make these anymore so...

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Old 8 September 2020, 03:05 AM   #26
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You cant get Kermits or Hulks for small money anymore. Expect to pay this and more for these refs. This example looks in good worn condition. Its 10 yrs old and not a safe queen.
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Old 8 September 2020, 03:08 AM   #27
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I wouldn’t pay anywhere near that for a non flat 4. Go find a really collectible flat 4 example.


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Old 8 September 2020, 03:46 AM   #28
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Granted, the price has risen dramatically, but that seems a little steep for that reference. If I was you, I'd shop around and save a few grand. And that is definitely not "mint" condition, nice, but not mint. Good Luck
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Old 8 September 2020, 05:18 AM   #29
AntonisCy
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Quote:
Originally Posted by broham84 View Post
Not sure if serious... Paul Newmans are 50+ years old, big crown subs are even older, do you know what they are going for? Cannot assess the price based on its age, especially in watches.




I actually don’t think it’s a crazy price. If you like it, go for it. The condition is great btw.
I was talking about a relatively recent release, not a Paul Newman Daytona.
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Old 8 September 2020, 05:24 AM   #30
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Full set - $17,000 is now the asking price.
Indeed I am seeing over $20k for HULK mint
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