Preowned Basic Subs etc Selling for a Premium?

[icnbne]

I've been out of the loop for a while now (focusing on new house, car, marriage etc) and noticed alot of people on buy&sell on facebook trying to sell their 2012+ subs at 2k+ over retail? with replies such as 'glws', or 'great price' etc

I understand theyre harder to get now, but seems ridiculous and opportunistic considering theyre not even basel release models?

just a small rant as to the culture rolex is creating with these so-called shortages.

[Chilly Coconut]

Thanks for pointing out. I’m surprised this has escaped the notice of the forum thus far.

[Etschell]

Originally Posted by icnbne

I've been out of the loop for a while now (focusing on new house, car, marriage etc) and noticed alot of people on buy&sell on facebook trying to sell their 2012+ subs at 2k+ over retail? with replies such as 'glws', or 'great price' etc

I understand theyre harder to get now, but seems ridiculous and opportunistic considering theyre not even basel release models?

just a small rant as to the culture rolex is creating with these so-called shortages.

Rant away, or dont. Wont change anything except your frustration level. Acceptance is the last step and you wont be far off. Just read the forums for a few days.

[icnbne]

Originally Posted by Etschell

Rant away, or dont. Wont change anything except your frustration level. Acceptance is the last step and you wont be far off. Just read the forums for a few days.

nothing to accept really, id rather wait 2 years than to give hard earned money for a used watch with no warranty. the part im trying to figure out is who is buying them, and the moral state of these individuals trying to cash in..

[Etschell]

Originally Posted by icnbne

nothing to accept really, id rather wait 2 years than to give hard earned money for a used watch with no warranty. the part im trying to figure out is who is buying them, and the moral state of these individuals trying to cash in..

Capitalism at its finest. And in 2 years prices could be higher or lower. Ads are cashing in big time.

[HogwldFLTR]

Originally Posted by Etschell

Capitalism at its finest. And in 2 years prices could be higher or lower. Ads are cashing in big time.

I see the Grays as the ones cashing in. Or did I misunderstand what you are saying here.

[icnbne]

Originally Posted by HogwldFLTR

I see the Grays as the ones cashing in. Or did I misunderstand what you are saying here.

greys will be greys, but when this is catch on to the individuals selling their preowned watches?

[DP63]

Originally Posted by icnbne

and the moral state of these individuals trying to cash in..

I dont think its always a question of people being moral or not, there is an assupmtion that sellers who advertise for a premium are all lacking in morals and I've never agreed with that assumption due to not knowing the people in question or their current financial state.

If you suddenly find yourself in need of cash .... would you sell a watch that trades at $8000 for $6000 or would you try and get as much as you can to meet your needs?

I understand that some people will jump on to a bandwagon and take advantage of the market ... and for individuals I dont see that as an issue when the gray dealers have been doing it for long enough.

[jimcameron]

I paid $1000 for my 16800 in 1985. Should I be selling it to you for less now?

[icnbne]

Originally Posted by jimcameron

I paid $1000 for my 16800 in 1985. Should I be selling it to you for less now?

thats not even remotely the same

the 116610 is still in production, and people are selling their used ones for more than what you can get new at current prices

[peterpl]

Originally Posted by jimcameron

I paid $1000 for my 16800 in 1985. Should I be selling it to you for less now?

LOL that is like the worst comparison on what the market is currently like. not even remotely the same.

Its all hype at the moment. Grays and ADs are making a killing selling everything at a premium. If your willing to pay the premium go for it if your not just wait. This trend will stop sooner or later but the grays/ADs are going to milk any buyer willing to pay these days until the craze stops and why wouldn't they?

Just logically think about it for a second regarding what Rolex is, how many watches they produce and for how many years each reference has been produced for, then think if its worth premium to pay for modern Rolex references.

If your answer is Yes after you have thought of the above then go for it. I know what my answer is.

[HogwldFLTR]

Originally Posted by icnbne

greys will be greys, but when this is catch on to the individuals selling their preowned watches?

It's pretty simple. It's economics 101. Supply and demand theory. Why the hell would anyone not sell their watch for the going rate (or what they can get for it)? If they sell it and take less than they can they just give the next guy the value. As long as supply doesn't meet demand this will continue. Rant all you want but the only fix is either less demand or more supply. Right now a major economic correction could reduce demand and leave a lot of people holding over priced jewelry. It really is a pretty risky game, imho.

[Token74]

Originally Posted by HogwldFLTR

It's pretty simple. It's economics 101. Supply and demand theory. Why the hell would anyone not sell their watch for the going rate (or what they can get for it)? If they sell it and take less than they can they just give the next guy the value. As long as supply doesn't meet demand this will continue. Rant all you want but the only fix is either less demand or more supply. Right now a major economic correction could reduce demand and leave a lot of people holding over priced jewelry. It really is a pretty risky game, imho.

Spot on. People moaning is all a little silly. Rolex are not obliged to increase supply! Economically, they are better off reducing demand by increasing prices than increasing supply, but they have to do that gradually as otherwise they are under threat of an economic downturn requiring them to reduce prices which premium brands can not afford to do from a brand perspective.

Prices will keep increasing and eventually get to the correct level where only the most in-demand new models will have a premium attached.


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[Token74]

As for the moral aspect, utter nonsense. People are perfectly entitled to sell their watch at market value, and that is not the same as RRP, it can be higher or lower as it is driven entirely by the market and not the pricing strategy of a company.

A few years ago I bought a GMT and a TT Sub from my AD with a discount applied, but still paid £2k-£3k more than I would have paid at a local grey dealer. But I wanted to support my AD.

A friend of mine also bought two watches, but from the grey dealer.

Guess which one of us has since been able to secure a 116500 and a BLRO at retail, as well as a 116519 with a discount?

And guess which one of us is always moaning about supply problems and inflated prices at grey dealers!


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[SS Oyster]

Originally Posted by icnbne

greys will be greys, but when this is catch on to the individuals selling their preowned watches?

Scenario ... you happen to walk into an AD and see a 2018 Basel GMT Pepsi sitting there in the display case and decide to buy. A few months later, you decide you need to sell the watch because it just doesn't "sing to you" anymore. Are you going stand by your principal and sell it for no more than what you paid $9,250 (MSRP)? Really? When all other ceramic Pepsi watches are selling for $17-19k?

I think if you advertised it for $9,250, your computer would crash from people filling up your PM box.

[Eric-London]

Originally Posted by Chilly Coconut

Thanks for pointing out. I’m surprised this has escaped the notice of the forum thus far.

Lol you win post of the week

[icnbne]

Originally Posted by SS Oyster

Scenario ... you happen to walk into an AD and see a 2018 Basel GMT Pepsi sitting there in the display case and decide to buy. A few months later, you decide you need to sell the watch because it just doesn't "sing to you" anymore. Are you going stand by your principal and sell it for no more than what you paid $9,250 (MSRP)? Really? When all other ceramic Pepsi watches are selling for $17-19k?

I think if you advertised it for $9,250, your computer would crash from people filling up your PM box.

Yeah fair enough, but i did mention watches other than new basel releases. honestly, subs have been out for years now, just cant figure out why anyone would pay a permium for them.

Im not ranting guys, i never had interest in buying used, cheaper or orherwise so it doesnt really matter to me. Im on the ‘list’ for the sd43, and going to try and hunt it down next week when i go overseas, so wish me luck :)

Btw, Im realising this isnt going to go anywhere, so mods feel free to close thread

[AK797]

Before Brexit you could buy an unworn Subc for a 10% discount, now a used one is at a 30% premium.

[Token74]

Originally Posted by Eric-London

Lol you win post of the week

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[Token74]

Originally Posted by AK797

Before Brexit you could buy an unworn Subc for a 10% discount, now a used one is at a 30% premium.

Ooooh...that should stir things up a little


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[beshannon]

Originally Posted by icnbne

I've been out of the loop for a while now (focusing on new house, car, marriage etc) and noticed alot of people on buy&sell on facebook trying to sell their 2012+ subs at 2k+ over retail?

I earn more money than I did in 2012.

Not sure what your point is?

[AK797]

Originally Posted by Token74

Ooooh...that should stir things up a little


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Ha, that wasn't a political statement, just a timing one, as the world for luxury watches is now divided into pre-Brexit and post-Brexit as overnight that is when everything changed. Brexit was the catalyst to all this madness, and no one mentioned this once during the campaigning, would have affected the vote massively if it had.

[Ruud Van Driver]

Originally Posted by HogwldFLTR

It's pretty simple. It's economics 101. Supply and demand theory. Why the hell would anyone not sell their watch for the going rate (or what they can get for it)? If they sell it and take less than they can they just give the next guy the value. As long as supply doesn't meet demand this will continue. Rant all you want but the only fix is either less demand or more supply. Right now a major economic correction could reduce demand and leave a lot of people holding over priced jewelry. It really is a pretty risky game, imho.

Originally Posted by Token74

Spot on. People moaning is all a little silly. Rolex are not obliged to increase supply! Economically, they are better off reducing demand by increasing prices than increasing supply, but they have to do that gradually as otherwise they are under threat of an economic downturn requiring them to reduce prices which premium brands can not afford to do from a brand perspective.

Prices will keep increasing and eventually get to the correct level where only the most in-demand new models will have a premium attached.


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Agree and agree.

I'm so glad that I'm happy with my little collection and not jonesing for anything else.

[Token74]

Originally Posted by AK797

Ha, that wasn't a political statement, just a timing one, as the world for luxury watches is now divided into pre-Brexit and post-Brexit as overnight that is when everything changed. Brexit was the catalyst to all this madness, and no one mentioned this once during the campaigning, would have affected the vote massively if it had.

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[icnbne]

Originally Posted by beshannon

I earn more money than I did in 2012.

Not sure what your point is?

Im not following what youre saying

All i meant was that im out of the loop, someone help me understand whats hppenening. But congrats on your financial success

[Etschell]

Originally Posted by HogwldFLTR

I see the Grays as the ones cashing in. Or did I misunderstand what you are saying here.

Ads are convincing even grays to buy slow moving watches to get the hotter models. Ads are raking it in. Grays are as well.

[callen4533]

Maybe people are lucky and have a good AD relationship - US this is more common. I'd say in the UK this is less prominent. I for one do not - so have to haggle with Greys or secondary market. If you wanna play and have the cash this is the only way. To be honest, I'll pay a premium if I get GOOD service (just like anything in this world) and treated like a human -jokes aside... Goldsmiths in the UK is a complete joke. I emailed them 2-3 month ago and got this very standoffish reply with basically go swivel. So, i'll take my hard earned cash elsewhere if it isnt stupid money, not so bothered.

[beshannon]

Originally Posted by icnbne

Im not following what youre saying

All i meant was that im out of the loop, someone help me understand whats hppenening. But congrats on your financial success

Inflation causes the value of everything to rise.

That is the fallacy of those who think that watches are investments. Old ones can sell for more because newer ones cost more. And they cost more in current dollars to buy.

Basic economics, that is what is happening, nothing magical.

[Etschell]

Originally Posted by beshannon

Inflation causes the value of everything to rise.

That is the fallacy of those who think that watches are investments. Old ones can sell for more because newer ones cost more. And they cost more in current dollars to buy.

Basic economics, that is what is happening, nothing magical.

gold watches are the worst. just look at the price of a gold sub in the 1980s vs now. they havent gone up in value at all adjusted for inflation.

[donas]

Originally Posted by SS Oyster

Scenario ... you happen to walk into an AD and see a 2018 Basel GMT Pepsi sitting there in the display case and decide to buy. A few months later, you decide you need to sell the watch because it just doesn't "sing to you" anymore. Are you going stand by your principal and sell it for no more than what you paid $9,250 (MSRP)? Really? When all other ceramic Pepsi watches are selling for $17-19k?

I think if you advertised it for $9,250, your computer would crash from people filling up your PM box.

Exactly! As others have said, supply and demand. I was recently looking at Hulks, 9G at an AD but good luck finding one. If you want one you're going to pay 3-4G over MSRP. Don't blame a seller because of how much people are willing to pay; if you don't like the price, shop elsewhere.