Good news! The watch market is tanking
Remember 3 years ago, when you could enter a Rolex dealer, and buy pretty much anything you wanted, that was not just a few steel sports watches?
It looks like those days are coming back. All the investors that gobbled up the stock, are now realizing the only reason the stock was so low, is because dealers were gobbling up stock, and starting to do massive sell-offs. The commodity watches (Rolex, Patek, AP) are losing value in massive chunks. Like watches that sold 3 days ago wholesale for $100,000, are now being offered up for $70,000 (and are not being purchased).
This is great news for enthusiasts, but bad news for investors, fly-by-night watch dealers, or massive watch shops that hold a ton of this kind of inventory (thewatchbox type stores).
However I suspect 99% of us here are enthusiasts, so this is great news for us! :)
A Kiwi-American, living in Thailand :)
Here is to hoping. I have not seen massive price drops with dealers yet and my AD has yet to call me but I sure hope things are going to change.
Here is to hoping. I have not seen massive price drops with dealers yet and my AD has yet to call me but I sure hope things are going to change.
The wholesalers see things a few weeks before we do, so I suspect it's going to get ugly on the retail side very soon!
The best pay back would be when an enthusiast finally gets the "call" after waiting for x amount of time and then he says calmly "No, thanks" 😎
I remember when Covid started and I thought watches were going to go deep down in price, and at the beginning of Covid Swiss watch sales really went down. But then, people started to get bored at home, working from home as well, and having a lot of money to spend online, as people could not travel or even go to a nice restaurant during the tough moments of the pandemic. So prices went up again and my hopes for a bargain started to disappear.
Let's see if the crazy prices bubble truly bursts now, or if this is just a little bump in the road.
What a hobby we have ah? Quite expensive. I should start thinking about being an ugly Christmas sweater enthusiast.
But does it have implications lower down the pecking order? I'm not paying $100,000 for a watch, nor $70,000, not even $17,000 - even if I could afford it. If it affects watches priced below $3,000 then I start paying attention.
I remember when Covid started and I thought watches were going to go deep down in price, and at the beginning of Covid Swiss watch sales really went down. But then, people started to get bored at home, working from home as well, and having a lot of money to spend online, as people could not travel or even go to a nice restaurant during the tough moments of the pandemic. So prices went up again and my hopes for a bargain started to disappear.
Let's see if the crazy prices bubble truly bursts now, or if this is just a little bump in the road.
What a hobby we have ah? Quite expensive. I should start thinking about being an ugly Christmas sweater enthusiast.
Can't wait to see that vintage 1963 Gucci limited to 10 pieces ugly sweater!
I watch a lot of youtube, and the dealers are all saying this. Here is one I trust, that just came out today. https://youtu.be/gTJHU_14A-Y
But does it have implications lower down the pecking order? I'm not paying $100,000 for a watch, nor $70,000, not even $17,000 - even if I could afford it. If it affects watches priced below $3,000 then I start paying attention.
At the moment, it's just the super high-end. Well, super expensive. Rolex is not super high-end.
Exactly as I predicted 18, 24 months ago.
Exactly as I predicted 18, 24 months ago.
You predicted eighteen of the last four recessions.
Yea, diet and a bit of exercise.
I watch a lot of youtube, and the dealers are all saying this. Here is one I trust, that just came out today. https://youtu.be/gTJHU_14A-Y
Let's hope they are right and. Even most the entry-level has moved up.
Ok--serious question(s): If we've been wanting a watch, where should we go to see when the price is just right (i.e. tanked enough)? And do you just mean "gray market" watches?
HAHA! when that Rolex AP calls back about the Skydweller I have been waiting on .. I am asking for a discount.
Ok--serious question(s): If we've been wanting a watch, where should we go to see when the price is just right (i.e. tanked enough)? And do you just mean "gray market" watches?
You do not need to wait.. head over to Grand Seiko online boutique and pick any watch you like. They are on quality superior to Patek, value for money.
Don't forget China is in lockdown and out of the market for a while. They were one of the biggest consumers in the watch market. Don't count them out yet.
This only affects tool watches and the tools who bought them, lol.
Tanking? Well, a Rolex OP with ”Tiffany” blue dial just sold for $70k+ at auction. A coral red for $50k. That isn’t tanking.
WOW if the price is right my big chance to get my first RoLex!!!🙏 I be a happy camper.
Ok--serious question(s): If we've been wanting a watch, where should we go to see when the price is just right (i.e. tanked enough)? And do you just mean "gray market" watches?
My 2 cents , wait til the price flatlines for 3-6 months within a 15% range
WOW if the price is right my big chance to get my first RoLex!!!🙏 I be a happy camper.
Same buddy , I only really want an explorer II but while proces and wait times are busllshit , im just focusing on other brands I want im my collection :)
That explore II is a dam sexy watch! went to a Rolex store tried it on and wow its on my bucket list. that be the day if ever have all three Explorer 2, Submariner and the Omega.
Yep. Some POS Air King was $16k last week. A few days later it's $12k. Sucks to be the guy who didn't sell his. Still, he'll be looking at that price decrease, calculating his potential loss, and now selling for any reasonable margin above the $5k or so it would normally sell for. Prices are crashing :-)
Rolex AD here in Texas has received 26-30 pieces each month since February and the quantities keep going up. Sure they have a lot of orders to fill but once those are filled the shelves should be filling up again. I bought a 114060 in December '17 and sold it mid '21 for almost double. I'm so glad I didn't wait....
The best pay back would be when an enthusiast finally gets the "call" after waiting for x amount of time and then he says calmly "No, thanks" 😎
hahahaha ...Imagine 🤣 sorry bro , spent all my coin on a moonswatch so call me next year...bye Felecia
The best pay back would be when an enthusiast finally gets the "call" after waiting for x amount of time and then he says calmly "No, thanks" 😎
We're all sick. We'd buy.
hahahaha ...Imagine 🤣 sorry bro , spent all my coin on a moonswatch so call me next year...bye Felecia
Bye Felicia 😂😂😂
We're all sick. We'd buy.
Unfortunately you are right
Yes, but the problem is the stock market is tanking too, so there is not as much free money to buy them even at a steep discounts.
Tank quicker please. I need to buy a watch.