To those in denial.....

[Abmatt2002]

...... about the market.

I am chasing a hulk so enquired with watchfinder for a valuation on my 116610LN. I only did this as I may want to sell it quickly.

Not 2 months ago they were offering over £8k.

Now £3.5- 3.8k!

Over a 50% drop. I think I’ll keep hold of it and fund the hulk from savings.

[Ranger67]

Doesn’t reflect in their asking prices, I suppose it’s stock purchased as per previous offer.

[interestedwatcher]

I don't think that is so strange - no one wants to be caught holding bulk stock bought at a premium at the moment.

[Xenon]

Some dealers are not taking any trade-ins at the moment.

[AJMarcus]

It doesn’t reflect market price per se. Just how much their willing to pay now to make a profit given their inventory. It more reflects that inventory is full for obvious reasons. I honestly haven’t seen prices dropping to that effect on the market. Maybe that will change over the next several months if Rolex can ever increase their supply to meet demand. Tough times for grey dealers ahead. Discount or bust I’m afraid.

[omx5o]

If it's a 50% drop then why can't you buy the Hulk for £7k?

[jamesthejeweller]

Lol since when were an over inflated and over stocked flippers paradise an authority on 2nd hand pricing? Watchfinder are borderline criminals, go and ask any reputable 2nd hand dealer and you'll get a different number from all of them that reflects their overheads and inventory holding.

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[faimag]

I think this reflects the fact that they don’t want to add more stock. Not that they are willing to sell at significantly lower prices

[nightmyth]

OP, let me know when you can help me buy a hulk or Daytona at a 50% price drop :)

[Abmatt2002]

Originally Posted by AJMarcus

It doesn’t reflect market price per se. Just how much their willing to pay now to make a profit given their inventory. It more reflects that inventory is full for obvious reasons. I honestly haven’t seen prices dropping to that effect on the market. Maybe that will change over the next several months if Rolex can ever increase their supply to meet demand.

I agree. Their selling prices have dropped a few %, but that’s all.

All the comments above make sense. I have a friend who deals and he says he isn’t buying anything at the moment as he doesn’t want cash tied up in inventory. He suspects that they are low balling to put sellers off. Those that are desperate will sell regardless and they’ll make a handsome profit.

[AJMarcus]

Originally Posted by omx5o

If it's a 50% drop then why can't you buy the Hulk for £7k?

Because that would be giving it away. They’re not at that point yet. Just don’t want to put more cash into an already bloated inventory my guess

[Ranger67]

Originally Posted by omx5o

If it's a 50% drop then why can't you buy the Hulk for £7k?

Most probably as per OP’s original offer they would have bought in at a much higher price.