It’s started ... trusted seller offering $500 discount

[haven_seeker]

Originally Posted by dimag333

And almost none of them are pledge members, must be waiting for the membership to be discounted

steve

Hey - I almost take offense to that!

[dimag333]

Originally Posted by haven_seeker

Hey - I almost take offense to that!

Haha, it’s all In good fun!

steve

[haven_seeker]

Originally Posted by dimag333

Haha, it’s all In good fun!

steve

[alex.cicollo]

Just read the article below about Rolex and other brands and the ensuing price effects as a result of the crisis.

https://sg.finance.yahoo.com/news/ro...040341044.html

[md3113]

Originally Posted by dimag333

Haha, it’s all In good fun!

steve

I obsessively enjoy the forums enough now that this was the gentle nudge I needed to sign up

[Chewbacca]

It’s all the TS’ fault.

[Jim Smyth]

Originally Posted by Ensign

DavidSW provides access to models, to non VIPs like myself, which we have no access to.

I’m not willing to bundle a TT DJ or PM in order to get a SS, nor will I buy a ton of wifey jewelry to get my name on an AD’s “list.”

I picked up a SS Prof at about MSRP from DavidSW a couple years ago when they went unavailable at ADs. Back then ADs were just shrugging their shoulders, saving watches for whales.

No monkey business with DavidSW - pay your money and next day you get your watch.

I have known David for quite a while and have at least a dozen transactions with him. I know what he pays for trade ins because all mine are just that. He is fair and isnt gouging anyone. There isnt a lot of extra money on the table especially when you consider he has a brick and mortar location with a armed guard, employees etc.

David is a good guy and I will continue to work with him in the future. Last time I was there in August he said he was opening up a stand alone store North of where he was at. I am not sure where hes at with that but wish him the best in these most challenging times!

[dimag333]

Originally Posted by md3113

I obsessively enjoy the forums enough now that this was the gentle nudge I needed to sign up

I want a commission! Lol

steve

[2ltdjorn]

Makes a irking look attractive


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[Cru Jones]

Originally Posted by abozz

I prefer the previous situation, because what is going to happen with the economy is dangerous. A fight between Virus vs Hangry.

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Have to agree....for me, little joy in seeing dramatic price drops.

[GGGMT]

Originally Posted by Chaching

and why I have been waiting for the Daytona... way too much hype around a SS Watch. MSRP will be soon boys and girls if not at a discount.

This exactly


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[GGGMT]

Originally Posted by djgallo

When is sooner? Tomorrow....next week....next month......2 months.....3months....6.....7....8.....when is sooner.....I want the Daytona at MSRP or lower....

6 to 12 months


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[aczaja10]

Originally Posted by blabus

Pretty sure there’s a term for that...

Lol! Indeed there is.

[Greenp]

Originally Posted by Jim Smyth

I have known David for quite a while and have at least a dozen transactions with him. I know what he pays for trade ins because all mine are just that. He is fair and isnt gouging anyone. There isnt a lot of extra money on the table especially when you consider he has a brick and mortar location with a armed guard, employees etc.

David is a good guy and I will continue to work with him in the future. Last time I was there in August he said he was opening up a stand alone store North of where he was at. I am not sure where hes at with that but wish him the best in these most challenging times!

Sold him a watch several months back. Gave me a good price. He listed it for only 10% more than he paid me.

[dimag333]

Originally Posted by Rolex_Time

Agree completely. Equally as ridiculous is asking $11,875 for a 2018 sub date.




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This is coming from someone who has twice asked for free authentication on subs

Should have just went down to canal street!

People can ask whatever they want for their goods. As for David, he has always been great with buying watches I was selling. Always fair

steve

[Rado63]

If you look at DavidSW inventory, then putting a sale on items he has the most of , think black submariners, only makes sense to make these items more price attractive in these times. He probably doesn't pay much to obtain those pieces either. My feelings are that shortly, the grey dealers will be the only ones with inventory. Rolex will not want discounting at the AD, and will not like to see value falling on the resale market. To insure no discounts, and no fall in resale, Rolex will control the inventory they release until the time is right. Exclusivity is the new luxury, Value preservation makes Rolex attractive at retail. Resellers like David SW will be happy to buy from you at this time at very low prices, but don't expect the resellers to discount their sale price, at least not yet. Buy low,
sell high will be there motivation at this time.

[Rolex_Time]

Originally Posted by dimag333

This is coming from someone who has twice asked for free authentication on subs

Should have just went down to canal street!

People can ask whatever they want for their goods. As for David, he has always been great with buying watches I was selling. Always fair

steve

What’s your point, Steve? Not seeing the connection.

I stand by my opinion that nearly $12k is out of touch with current market conditions.


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[opaline460]

Wooooohooooooo

[Michigan_State]

Petty complainers about David. He has been here before me and most of you and will hopefully be around after this has moved on. What have you contributed to the game?

[fskywalker]

Originally Posted by Justinmg

Yep I want see 1k under msrp like it used to be! Otherwise I’ll just got to a AD.

Originally Posted by vicsdca

Even if Davidsw offered $5,000 off a Daytona, it would still be $5,000 over MSRP.

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[sgwatchguy]

Originally Posted by watchmework

It’s amazing what a couple of days in quarantine brings into TRF....a lot of new experts here all of a sudden.

+1

There’s good entertainment value to it. And practicing restraint when tempted to call BS.


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[tb06]

Originally Posted by Frontier

I am a watch hobbyist and a professional venture capitalist. I am more than happy to offer people my personal opinion on what is expected to transpire in the markets, but the recent volatility in the global stock markets are just the tip of the iceberg. The fact is that there are billions of dollars of jewelry, precious stones, and gold coins that are pledged as collateral against loans and margin calls have already begun. I know because I see it. Of those three categories hobbyist-owned watches and stones are the most vulnerable to rapid price fluctuations because of forced liquidations.
I feel bad for dealers who are sitting on millions of dollars of inventory hoping collectors won't notice, but the reality is that prices on watches will drop and, in my opinion, MSRP shouldn't be considered the backstop. One can establish his or her own estimate of the real production cost of a SS Rolex sport or chronograph watch or an AP, Patek, or Piaget regular production timepiece.
IF our global economy is shut down for more than 3 months these watches could trade at those base levels and gold and platinum watches will track the price of their underlying commodity metals purely based on weight.
In my opinion there is far greater value to a pure gold or platinum watch right now and if our global economy sustains a more permanent shutdown ask yourself, is a mass produced Rolex Hulk or GMT Master really more valuable than food, shelter, and medical care during exceptional times?
I currently see some sellers either oblivious to the stresses entering the watch market or hopeful they can find a sucker - truly pathetic. As I said, I do feel bad for the watch dealers who provide liquidity and value to this industry, but like in my industry I suspect the bid-ask will widen quickly and the business will evolve more to consignment to protect the market makers.
If you see a decent bid hit it. If you can trade for something you like, be rational.
It's going to real ugly before it gets better.

Amen. Tremendously well said and I echo every sentiment. My corporate clients span most industries and I think the majority of them just really started understanding the market impact this pandemic is going to have economically. These are smart people. Last week was massively eye opening for most. Strap in. Gonna be a bumpy ride.


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[socalwatchcollector]

Originally Posted by ronricks

+1

[Rohan1806]

Originally Posted by Dougiebaby

I watched same video too (had Paul Thorpe on it). I believe that was more to do with their B2B business — meaning, buying/selling watches between their firms. Of course, they could try and coordinate pricing and have a “gentleman’s agreement” not to lower past a certain point. And such an agreement could last if markets rebound in timely fashion. But, those companies will always look out for their business first over any agreement between rivals.

The individual sellers and small time watch dealers will cave first. The medium and larger dealers will cave together. I don’t think large dealers will last any longer than the medium firms because they will suffocate under their larger inventory.

In fact, it was Watchfinder (one of the largest greys in Europe) that started discounting Rolexes about 4 months ago that led many YouTube watch channels to claim “the Rolex bubble has burst!”


https://youtu.be/sD3nbWcb7VQ


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Apologies for getting that wrong. I didn't mean to share incorrect information.

These are unprecedented times. The coming weeks are going to have a massive effect on alot of people's health and livelihoods.

[Rohan1806]

Originally Posted by blabus

Pretty sure there’s a term for that...

Doug tells me that I might have gotten this wrong.

[No SUBctitute]

Originally Posted by jrs146

The gray market will be a blood bath. When the end buyers dry up the gray market will plummet as they scramble to unload stock. Dealers will want cash to pick up cheap watches from retail sellers unloading in times of need.

Your first two sentences bored me....another prediction *yawn*. But your third sentence peeked my interest--maybe your first two sentences are right. Makes sense! We shall see.

[gtnator]

ADs in shopping malls are closed/closing. Many in other locations are “non essential” and will close too. The whole AD market may pause, if that happens greys may be the only game in town. Prices are going down now but once almost all ADs are closed, greys will be the only game in town. On the flip side, many customers won’t have extra money to buy luxury items like watches. Who knows what’ll happen.


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[GGGMT]

Originally Posted by blabus

Pretty sure there’s a term for that...

Very funny


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[jrs146]

Originally Posted by No SUBctitute

Your first two sentences bored me....another prediction *yawn*. But your third sentence peeked my interest--maybe your first two sentences are right. Makes sense! We shall see.

I suppose everything is a prediction. But I look it more as simple economics. There’s always periods of expansion and contraction. And in those periods certain things are very likely to happen.

If we assume we have entered or will enter a contraction. It’s reasonable to predict that demand for luxury goods will decline quickly. The gray watch market is even more at risk than other luxury good markets because there’s so much volume within gray dealer transactions. I would bet that a watch that ends up in an end users hand has touched 2-3 gray dealers first. Not to mention the rolex to AD and AD to flipper transactions. This is exactly what happened during the real estate bubble. Properties were flipped multiple times without anyone actually living in them. When the bottom fell out. It crashed hard and fast. It’s going to happen with watches and the gray market will very much be impacted.

Ok I guess that kind of sounds like a prediction...


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[kitsgq]

Lmfao!

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