It must be tough being a watch dealer now

[BillA]

It must be difficult being a watch dealer today. I see the same watches bumped every few days on the FS forum. It seems like very few watches are selling. The stock market, inflation have not helped. For the past few years they have been reaping big margins, now they are holding inventory. I wish them no harm but I for one do not buy over MSRP.

[Tim Plains]

Peaks and valleys. Any long term dealer will just ride it out. I don't pity them given they've had an unbelievable few years.

[IR201]

Are they not just buying at lower prices, selling at current market, still making a killing?

Seems the same model works at any price.

Question I guess is their ability to withstand any losses from having previously bought at high prices while still having that inventory.

Maybe some are able to hold, and thus lose nothing.

[messikens]

Originally Posted by BillA

It must be difficult being a watch dealer today. I see the same watches bumped every few days on the FS forum. It seems like very few watches are selling. The stock market, inflation have not helped. For the past few years they have been reaping big margins, now they are holding inventory. I wish them no harm but I for one do not buy over MSRP.

Everything is still selling, it's just a matter of finding the right price.

Frankly I have to sometimes laugh at the FS bumps. The 15202 for 115k (or an 116500 for 34k) isn't gonna sell, no matter how many times its getting bumped.

It didn't sell in July at that price, so it sure as heck isn't going to sell at the same exact price now...

Realistic prices still get offers, but the realistic price just isn't 4x MSRP any longer

[agsstructures]

Originally Posted by messikens

Everything is still selling, it's just a matter of finding the right price.

Frankly I have to sometimes laugh at the FS bumps. The 15202 for 115k (or an 116500 for 34k) isn't gonna sell, no matter how many times its getting bumped.

It didn't sell in July at that price, so it sure as heck isn't going to sell at the same exact price now...

Realistic prices still get offers, but the realistic price just isn't 4x MSRP any longer

Exactly right

[Trailboss516]

Where's that watch sales academy bro with those YouTube advertisements? Really missed seeing him casually stand in front of those rented supercars like "oh, didn't see you walk in as I stand here with these 7 gold watches on the spoiler of this Lambo ...."

[AbeFroman]

Originally Posted by Trailboss516

Where's that watch sales academy bro with those YouTube advertisements? Really missed seeing him casually stand in front of those rented supercars like "oh, didn't see you walk in as I stand here with these 7 gold watches on the spoiler of this Lambo ...."

Lmao, the WatchTradingAcademy guy off insta.

[messikens]

Haha, I forgot about that guy...


Or add to the non-sellers : a 16202 for $142k


Mad times are definitely over. It's a $35k watch (after more bumps) listed at 4.5x MSRP. I mean come on...

[Gab27]

Secondary dealer stock is definitely moving drastically slower than it was this time last year, even though prices are currently lower than they were this time last year.

As I noted in another thread, I imagine a lot of secondary dealers are underwater on some of their inventory, having paid more for it than they can currently sell it for. From what we're hearing at this moment, it also sounds like some dealers aren't even buying most watches at this point, which isn't entirely shocking.

[brandrea]

It’s hard to tell but one things for certain, prices have come back to earth on most models.

[shaunylw]

Once dealers sold through their prior purchases at previous prices, it will be back to normal. Things are slow because the prices are falling faster than dealers are willing to keep up with. But things do appear slower.


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[shaunylw]

Originally Posted by messikens

Everything is still selling, it's just a matter of finding the right price.

Frankly I have to sometimes laugh at the FS bumps. The 15202 for 115k (or an 116500 for 34k) isn't gonna sell, no matter how many times its getting bumped.

It didn't sell in July at that price, so it sure as heck isn't going to sell at the same exact price now...

Realistic prices still get offers, but the realistic price just isn't 4x MSRP any longer

That is my favorite. Like take the loss and get out or stop bumping stuff that nobody is buying at these prices. If you’re waiting for Rolex from the AD, your time is coming. It’s getting very easy to find reasonable grey deals on SS Rolex. I saw a few subs go this week for just over retail, probably around retail plus tax.


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[Chewbacca]

My AD threw a Rolex at me to leave the store instead of their stapler.

[Andy0331]

Originally Posted by IR201

Are they not just buying at lower prices, selling at current market, still making a killing?

Seems the same model works at any price.

Question I guess is their ability to withstand any losses from having previously bought at high prices while still having that inventory.

Maybe some are able to hold, and thus lose nothing.

It's going to come down to how leveraged each individual dealer is. Those with little leverage will eventually come to terms with the current market & sell at a loss, knowing that they can now replace their inventory at a lower cost point & start selling again at the new market prices.

Those with a lot of leverage are going to try to keep up with interest payments and pray for a turnaround. Ultimately they will slowly bleed out, until they gush and go out of business & have turn in the keys to their Lambos.

[eijiboy]

Buying a ss ln subs now at ad are very nonprofitable if you are a flipper. now grey dealer selling it for 13k. you be lucky to make 1k off it.

[1665fan]

We have some of the highest prices out there on this forum…. Tax masters for sure…. Pepsis are 20k not 24k like some of these idiots are asking lol….but I’m still willing to bet they drive Ferraris and most people on here dont

[huncho]

Originally Posted by 1665fan

We have some of the highest prices out there on this forum…. Tax masters for sure…. Pepsis are 20k not 24k like some of these idiots are asking lol….but I’m still willing to bet they drive Ferraris and most people on here dont

who hurt you?

[Reikolexguy]

Originally Posted by messikens

Everything is still selling, it's just a matter of finding the right price.

Frankly I have to sometimes laugh at the FS bumps. The 15202 for 115k (or an 116500 for 34k) isn't gonna sell, no matter how many times its getting bumped.

It didn't sell in July at that price, so it sure as heck isn't going to sell at the same exact price now...

Realistic prices still get offers, but the realistic price just isn't 4x MSRP any longer

I know it’s not my place to tell someone how to spend their money.

Although if anyone actually pays those prices, they must be loaded with serious FU money, absolutely love that reference or just really thick in the head.


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[alphadweller]

With gross margins between 30 and 50%, I wouldn't worry too much about them.

[Donb]

I've been trying to get a feel for the real price to pay for a SS Daytona white since August.

I've seen gray market priced $32K to $42K

I keep hearing the prices are coming down but still seeing forum vendor's listing for $35K and up.

My AD retired and closed a few years ago and just can't seem to get on anyone's list. The wife has all the jewelry she wants so anything to buy is just a waist of money.

What do you think is the current "buy" price for a 2021/2022 Daytona SS white dial?

[Mathematoxic]

Originally Posted by Donb

I've been trying to get a feel for the real price to pay for a SS Daytona white since August.

I've seen gray market priced $32K to $42K

I keep hearing the prices are coming down but still seeing forum vendor's listing for $35K and up.

My AD retired and closed a few years ago and just can't seem to get on anyone's list. The wife has all the jewelry she wants so anything to buy is just a waist of money.

What do you think is the current "buy" price for a 2021/2022 Daytona SS white dial?

Based on the number of for sale panda, probably 22k. There are just too many to sell and more new ones coming every single day. Plus lesser people are willing to spend this amount of money. I’m sure at 22k, not all will be sold out. How the market moves is for you and me to guess but that’s my take.

[train-time]

Originally Posted by Mathematoxic

Based on the number of for sale panda, probably 22k. There are just too many to sell and more new ones coming every single day. Plus lesser people are willing to spend this amount of money. I’m sure at 22k, not all will be sold out. How the market moves is for you and me to guess but that’s my take.

If $22k is not doable right now, give it a few months more. I would wait until after the Holiday spending is over. Not saying that the price will hold for the Holidays, but sellers will try to force it to happen. After the Holidays when things have slowed down, we may have a different story.

[QuelleHeureEstIl]

Originally Posted by AbeFroman

Lmao, the WatchTradingAcademy guy off insta.

How can people fall for it? https://www.youtube.com/watch?v=tcfHNHAGjUk

[walds11]

Originally Posted by QuelleHeureEstIl

How can people fall for it? https://www.youtube.com/watch?v=tcfHNHAGjUk

Is this a joke? We can join the academy for $497.

He’s sitting on almost $100mm net worth. Hmmm…

[Donb]

Originally Posted by train-time

If $22k is not doable right now, give it a few months more. I would wait until after the Holiday spending is over. Not saying that the price will hold for the Holidays, but sellers will try to force it to happen. After the Holidays when things have slowed down, we may have a different story.

$22K for a 2021 or 2022 Daytona Panda? I would buy that right now.

So when I see a forum dealer asking $33-35K, I should offer $22K?

I can wait longer as I agree this economy will continue to soften prices but I'm a buyer at $22K

[messikens]

Originally Posted by shaunylw

That is my favorite. Like take the loss and get out or stop bumping stuff that nobody is buying at these prices. If you’re waiting for Rolex from the AD, your time is coming. It’s getting very easy to find reasonable grey deals on SS Rolex. I saw a few subs go this week for just over retail, probably around retail plus tax.


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Saw a 5711 white with 41 bumps today. Must be a new record... Or close to it


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[sudo_root]

Originally Posted by Donb

$22K for a 2021 or 2022 Daytona Panda? I would buy that right now.

So when I see a forum dealer asking $33-35K, I should offer $22K?

I can wait longer as I agree this economy will continue to soften prices but I'm a buyer at $22K

Yes absolutely, the asking prices are a joke.

[Mathematoxic]

Originally Posted by Donb

$22K for a 2021 or 2022 Daytona Panda? I would buy that right now.

So when I see a forum dealer asking $33-35K, I should offer $22K?

I can wait longer as I agree this economy will continue to soften prices but I'm a buyer at $22K

Yes if all interested buyers are offering at $22k, the seller will not be able to sell at current asking prices. Then it’s a matter of time before they have to sell at $22k. ADs keep emphasising on how hard it is to get a panda, but how many pieces do we see trying to sell on the grey market?

[ts3]

Originally Posted by walds11

Is this a joke? We can join the academy for $497.

He’s sitting on almost $100mm net worth. Hmmm…

[mountainjogger]

Originally Posted by 1665fan

We have some of the highest prices out there on this forum…. Tax masters for sure…. Pepsis are 20k not 24k like some of these idiots are asking lol….but I’m still willing to bet they drive Ferraris and most people on here dont

It's called a free market. If you don't like the price, make an offer or buy from a less reputable dealer or wait for the market to adjust.