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6 August 2020, 04:28 AM | #1 |
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Upgrade to pm via flip
How common is flipping a ss Daytona or GMT to a dd40 or any other pm?
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6 August 2020, 04:37 AM | #2 |
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common? probably not as common as i'd expect, but it makes a lot of sense to take the opportunity of the high premiums to upgrade
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6 August 2020, 04:38 AM | #3 |
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Common and common.
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6 August 2020, 04:39 AM | #4 |
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I’ve done it
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6 August 2020, 04:41 AM | #5 |
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Let me check my data base and get back to you.
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6 August 2020, 04:50 AM | #6 |
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6 August 2020, 04:58 AM | #7 |
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As others stated, taking into account the current SS ‘premiums’, best time to upgrade to PM. And yes it’s been done before.
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WG SUB-116719 GMT MASTER II 126719 |
6 August 2020, 05:01 AM | #8 |
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I "flipped" my BLNR into my 519LN. But it wasn't really a flip. I paid $7,600 for my new BLNR from an AD in 2016 (yea, I know...crazy!) and took advantage of the hype in Sept 2019 and sold it for $13,200. Used that money towards my 519LN.
Wasn't a quick flip, but I guess still a flip. |
6 August 2020, 10:35 AM | #9 |
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Heaps of guys have done it and it makes perfect sense.
Your basically taking advantage of the SS Daytona hype to get an upgrade for minimal cost on top. Whereas the PM may have been well out of your budget in the past cashing in on the hype is a common thing to do. |
6 August 2020, 10:37 AM | #10 | |
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Quote:
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6 August 2020, 11:35 AM | #11 |
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Do it and take advantage of the pre,I'm in your Daytona and get the DD at a discount.
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Rolex DD 228238 Daytona 116515 (sold) AP 15710 Rolex 116710 BLNR And a few others... |
6 August 2020, 01:10 PM | #12 |
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I wonder if long-term the SS models will one day be seen as the "truly" desirable models, even relative to the "accessible" PM, and that prices will rival some of the PM models. It comes down to inaccessible vs accessible, which is what is already driving the price surges in Rolex SS. Plus, looking at other big brands with SS hype, the same phenomenon has already occurred and in those cases it is clear there is no true ceiling for the effect (as yet). There is some precedence for this.
That's what keeps me up at night. That said, I'd be lying if I said I hadn't thought about flipping to PM myself.
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6 August 2020, 09:08 PM | #13 |
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6 August 2020, 09:22 PM | #14 | |
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Quote:
Why did SS get so hot in the first place and why is there so many customers wanting one? Look at the very very fundamentals. What is it? What actually fueled this bubble and what allowed it to grow? One answer its price. 90%+ of buyers are in the SS price range. Now SS have increased and some models like the SS Daytona almost to PM prices. Once SS starts hitting around the $20k+ price range the number of customers in this price exponentially decline. It falls off a cliff. So for all SS models to go above PM it will never happen. The number of customers at those prices will never allow SS to hold or even reach those prices. Not widespread anyway. The most expensive modern SS is a White Dial Daytona and the max price I've seen one sold for is $26k at peak when it was advertised for $27.5k Thats your answer right there. SS only became desirable and hard to obtain because the number of buyers for SS prices was HUGE compared to PM. Its evident in gray market right now. How hard is an SS Daytona to get at $25k right now? Simple as buying a burger from McDonalds. Same thing with houses. I went looking last weekend prices in $1M-$1.2M range was crazy with everyone wanting it. Auction pushed it up to $1.5M and sold. Go look at a $2.5M house and there is 10% of the customers present at the auction. |
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6 August 2020, 09:27 PM | #15 |
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who knows how common, probably not very, considering all purchases of watches, but clearly a tactic for a select number of people to pay 11k, sell for 20k and add a bit more to a PM Daytona, sub or DD.
These people sometimes get found out and then loose their ability to buy from that AD. Thats an issue I don't want to get into. I agree it's their business but at the same time, I highly dislike the fact patient watch enthusiasts are affected by this flipping practice. But as you will have probably seen, the gap has widened considerably over the last 5 years on PM watches. They are now low / close to 30k whereas they use to be low 20k (all GBP by the way). You could have fit a sub and GMT into the price inflation alone on PM if you considered pre 2017 prices. |
6 August 2020, 09:30 PM | #16 |
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If by common, you mean widespread, I don't know.
It's something I think about from time to time. I've only got two wrists after all! But with me there would be a problem. Sure, I'd consolidate for a Smurf, or YG DD, or maybe a RG Sky Dweller. I would love it and wear it. But over time I would probably end up buying most of the models I flipped. I'm like that. And I know myself too well to go there. If I get a windfall and for some reason must commemorate it with yet another watch, I'll add a PM. |
6 August 2020, 09:31 PM | #17 | |
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6 August 2020, 09:38 PM | #18 |
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I’m keeping all my watches and I’ll just keep saving for the next one. I am hoping to add possibly two more PM watches.
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