Is anyone buying now?

[Ny325]

I’m not buying. This Coronavirus has treally hurt the economy. NYC is pretty much shutdown. Hotels, restaurants, retail, and Broadway shows have all taken a major hit.

[Phooi]

A bear market is defined as a 20% drop from its high. The Dow crossed into bear market territory today. S&P has not.

Some of the factors driving the market slide besides the uncertainty associated with covid-19

1) tonight’s US announcement of travel restrictions due to covid-19 adding to other global travel restrictions will battered the travel sector even more

2) oil war between the Saudis and Russia trying to drive out the high costs oil suppliers (ie., US Shale cos.)

3) cancellations of mass gatherings, postponement of NBA games (sports), movies, and trade shows and you have the hospitality industry decimated

All this is a creates a downstream effect to all the subsequent and adjacent small and medium size businesses that support those industries. This is a recipe for the start of something ugly. You can decide whether the “R” word should be used but we’re not going to be ok in the short term.

[DGB]

If the economy is slowing down, and my job is jeopardised, no watches for me.


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[JacksonRain]

Originally Posted by BillA

The Coronavirus has been on all of our minds.....employment, travel, buying and selling of goods, supply, etc.



I was wondering if anyone is delaying the purchase of a watch if the AD was to call with a watch that you have been trying to get for a while?



I have limited my travel, large groups. I am on a waitlist at a few AD’s for a watch. I have to wonder if this will speed things up because prospective buyers will pass when the AD calls.

Maybe. Maybe if I give my "watch back, and run", and in the off chance we have the same ad, they may sell it to you. LMAO!!!

[Phooi]

Originally Posted by Fedpete

Things will get bad for a moment but China is already on containment mode. Let’s keep this in perspective—that’s a country of 1.4 b people. We are 360m plus and a few hundred people have it. You should be shitting your pants over influenza A, it’s far more dangerous statically—but nobody does because the media darling is corona.

Everyone needs to screw their heads on again and get some perspective. Does that mean this is a joke? Absolutely not, but this isn’t going to turn into the apocalypse.


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The WHO officially categorized covid-19 as a pandemic. Unlike the flu, there is no immunity or vaccine available to treat it.

The chancellor of Germany gave a news conference today that “The consensus among experts is that 60 to 70 percent of the population will be infected as long as this remains the situation.”

Anthony fauci, director of National Institute of Allergy and Infectious Diseases, testified before Congress that a plausible covid-19 fatality rate could be 1 percent. That is 10 times as lethal as seasonal influenza. At 1%, 3.6mm (based on 360mm) people could die from covid-19.

I don’t think this situation has been overblown.

[Nairn1980]

Originally Posted by vicsdca

If Rolex release a new Sub this year I'm a buyer.

So will most of us be. Availability will be the continued issue

[amanbra]

if i get a call i'm buying, thankfully i'm in a rather recession proof industry and on a personal level I'm stockpiled a bit of cash assuming things have overheated a bit. I did not expect this virus to hit but as I was moving money into defensive assets already it's left be fine.

[FrostyAK]

I have to think that people losing 20% or more of their savings in two weeks will curtail their purchases in lots of areas.

[rexG]

just bought a DJ41, white dial, fluted on jubilee from an AD last week.....love it!

[FrostyAK]

Interested to see how long it takes for the wait list at your AD to shrink.

[1sttimerolex]

Not because for things beyond my control, like the economic headwinds, but rather I got a very pleasant surprise when I came home - a black lacquered box housing a vacheron overseas. Early wedding anniversary present, says my better half. Welp, no new rolex for me this year.

[Phooi]

Originally Posted by 1sttimerolex

Not because for things beyond my control, like the economic headwinds, but rather I got a very pleasant surprise when I came home - a black lacquered box housing a vacheron overseas. Early wedding anniversary present, says my better half. Welp, no new rolex for me this year.

Congrats! Loves to see a pic of the overseas! I’ve come to really like the watch.

[SadHappy]

Originally Posted by Patton250

I’ve visited two AD’s so far this week with one more to go today. Both of them so far said they’ve sold every hot watch within an hour of them receiving it. They also said sales in general are the same as they was a month ago.

What are considered hot watches? Mostly steel? - Serious question, just curious.

[1sttimerolex]

Originally Posted by Phooi

Congrats! Loves to see a pic of the overseas! I’ve come to really like the watch.

Thanks! Will do once I get it sized at the boutique. But who knows when that will be with this corona scare. Hopefully they wont be closed this weekend.

[Watchflair]

If I got the call for a piece I've been waiting for I would confidently make the purchase.

I believe this will pass in due time and the world will be back to normal.

[Bybybmw]

Being retired the smart move, for me, is to not buy any watches until this thing blows over.

[Bluside]

I'm not actively looking for anything now. So, I guess that's a good thing.

[brucethemanlee]

Originally Posted by Bluside

I'm not actively looking for anything now. So, I guess that's a good thing.

+1


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[Fedpete]

Originally Posted by SadHappy

What are considered hot watches? Mostly steel? - Serious question, just curious.

Steel sports watches


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[JasTPE]

Still actively hunting~!

[Dr. Robert]

Originally Posted by Bybybmw

Being retired the smart move, for me, is to not buy any watches until this thing blows over.

I concur, plus I spent all my money on toilet paper, hand sanitizer & soap.

[Randy63]

Interesting article here:



Chinese Revenge Spending

[KaVo8]

Originally Posted by Dr. Robert

I concur, plus I spent all my money on toilet paper, hand sanitizer & soap.

Lol


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[tcheeco]

I just got an AP 15202st. I got the call, I sent the payment and they shipped the watch. The day after I got it ����*♂️

[google]

Originally Posted by Randy63

Interesting article here:



Chinese Revenge Spending

Well better spend what you have, its going to be a slow recovery and if large business have any sense there will be a massive push for supply chain diversity to shift down dependance on Chinese manufactured good.

[Rocket44]

New poster here, longtime lurker.... have 2 Rolexes myself. Been in the market for another one for about 1 year, been waiting till the hype blows over. Got my others at 10% off msrp years ago. I agree the luxury market is going to slow.

But if I come across a piece I want at an AD I'm gonna buy. Like Buffet says, "buy when others are fearful..." All kidding aside, I was at 3 ADs the other day and they all had a bunch of models out that they didn't 3 weeks ago. SS DJ41s, YM, YM2, Smurf, Bluesy, YG Sub... I tried to start a thread about what they had, but I'm not sure if they let newbies post an entire new thread.

[wrexc]

If I get a call I’m afraid I would have to pass. Too many unknowns with the virus and economy.

[Jfullm42]

Unless it's a very very good deal... nope. Living in Seattle and watching our Gov. shut down public meetings, schools and sporting events, my life and many around me are at a standstill. I'm not one to live in fear, but these are unprecedented times we are living in imo.

[Bizcut1]

On the sidelines for now...seems foolish to be elsewhere unless you have cash to burn...

Good luck to all!

[alphadweller]

Ibex 35, Spanish stock market index is down 14% today, that's unprecedented, kind of scary. That's 37% down in the past 3 weeks. Makes me thinks twice before splurging on the next luxury watch. How much do I really want that SS Pepsi?