Gold is getting very very hot.

[peterpl]

Originally Posted by 7sins

the AP RO RG skeleton has skyrocketed, I remember just a few months ago they were $115/120k and now cheapest is $165k. Amazing.

That is precisely why I am worried if I should buy now or not.

I never really let FOMO take over but man I've been looking at Patek 5980 Rose Golds, 5711 RGs and AP RG pieces go to the moon already. Rolex will follow 100% maybe not as high but I feel that if this continues all gold pieces will be selling for $50k+ minimum within 12 months. That will be hard to swallow.

My dealer said to me today lucky I bought the 116618LB off him in July otherwise it would be around $38-$39k to buy today a new example.

[ngypheap]

Originally Posted by peterpl

I hope I can get one soon.



Dealers are in the game to make money. They will low ball you with any watch not only gold watches. Thats what many ppl dont realise when they try to trade/sell a watch.

Usually add 10-15% margin on all trades so if you got offered $29k for it + 15% margin for the gray he will sell it for around $33k-$34k which is right on the ball figure for a second hand piece. Plus if yours is > 3-4 years old that is also a big factor and you will get less.

Same with SS. The 116610LV is selling for about $17k now. A gray will only offer you $14-$15k for it as well. I just asked last week several of the big ones.

Buying and selling is always a big difference but I'm here to buy and the buy price is getting very high now for gold pieces.

Make sense, but I didn’t sell it. Just check with them if trade it the WG, but I will keep 116618LB and enjoy it 10 year more


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[grimps]

A lot of people always liked gold watches but didn't like losing 30-40% of the value of their gold watch as soon as they walked out of the dealers.
I had a Rose gold Daytona that i got a discount on but still lost money when It was time to move it on.
If Gold holds it's value it'll be a lot more attractive to buyers

[JSCP]

Gold is King, don’t buy to sell.
I love mine….and not selling…

[1665fan]

It’s picking up because it’s a decent investment now and not a money pit…..

[nollie85]

Wow. This thread got bumped.

Look where Gold pieces are at now. Bloody SKY HIGH!!!

Should have bought each and every single gold piece back when this thread started. LOL

[huncho]

Originally Posted by 1665fan

It’s picking up because it’s a decent investment now and not a money pit…..

it's definitely seen as an investment now but i think as long as you didn't buy them at msrp before everything went crazy you'd still have your money safe in the 5-10 year range. everyone was buying PMs at 20% off before 2018 so it wasn't really the worst decision anyway

[Climaxoxo]

The same has happened to Lamborghini whips. The asking price has gone up.

I think this is happening across the board to luxury products.

[rambo99]

Originally Posted by grimps

A lot of people always liked gold watches but didn't like losing 30-40% of the value of their gold watch as soon as they walked out of the dealers.
I had a Rose gold Daytona that i got a discount on but still lost money when It was time to move it on.
If Gold holds it's value it'll be a lot more attractive to buyers

good observation!

[Henrimontgomery]

Gold is now basically free, and let’s not kid ourselves: gold is the superior metal.

[teager]

That was my initial thought too !

Originally Posted by peterskinner

When I saw the title ‘gold is getting very hot’ I assumed this would be a discussion about how the weight of gold bracelets could be uncomfortable in the heat.
Boy, got that wrong.