Rolex Prices Tanking

[Champ66]

To be frank majority only able to get from grey market

[dpkong]

Back to the original topic again...

seeing a lot of Hulk and Starbucks asking price going down slightly.. and actual selling price probably even lower..

more and more sellers have plenty of stocks with grey sellers having ample stocks of AirKing asking over 42k few months back but now asking in the 36k range... and yes there are some ridiculous sellers still asking 40k++ because they only have 1 or 2 pieces.. but if you've got more than 10 pieces and it's not moving, you would be a little worried.

Daytona half/full gold models are still asking high prices but also not really moving.

Submariners and GMTs also stagnant.. high asking but not really moving..

More sellers doing FB live sales and you can see prices no longer NETT like before (more like PM me to deal) and less people are buying on the spot too..


And the real crunch... we've been in some form of lockdown for 16 months now, and even after vaccination, new strains are becoming hard to control.. so don't expect any changes in policies in the next 6 months or maybe one year.

Who are the people "investing" money buying from grey market and how will demand affect their investment? Can they still hold or will they need to offload and if they have to offload, will there be buyers at current asking prices which seems not at the rate sellers are not moving watches.

No need to feel sad for grey dealers because most have made their fortune and just sitting on stock. Yes.. they probably paid a little over retail for their stock but unless prices go below retail, they're not losing money just not having liquidity.

The fun part is watching those suckers who paid gross premiums hoping to make money....

 

[IamJacky]

Yeah it's definitely nice to see some market correction now (although I'm not in the market to buy anything at the moment), the price increase in the last year had been quite intense.

Only the highly desirable models will have their prices remain stagnant, i.e. the Daytona, GMT Master II, and Submariners.

While I understand these dealers are trying to make a living, the way they attempt to hype up every single model does feel a bit distasteful.

As for buyers who naively believed buying Rolex watches as investments and hoping to make money, well that was never a wise move to begin with. But hey, at least you got some real nice watches, enjoy them in good health!

[pleasuresaurus]

Has the price been stagnating/dropping though I wonder? Been checking out some shops online out of curiosity n from what little I saw, price go up sum more. 53k for a no date sub, 42k for an OP.

[dpkong]

Has the price been stagnating/dropping though I wonder? Been checking out some shops online out of curiosity n from what little I saw, price go up sum more. 53k for a no date sub, 42k for an OP.

I think website pricing aren't as good an indicator of market pricing as grey sellers on Facebook live or for-sale posts

[Gentlemen101]

Facebook live always the best reflect of current situation ...


Yes, current fb live watch sales far quieter than last year...

[pleasuresaurus]

Typically which fb live accts would be the ones to check out?

[dpkong]

Typically which fb live accts would be the ones to check out?

I normally see Watchlim pop up on my feed. Could be more..

[ray6969]

i love its....i will wait until economic solve it especially law of demand and supply...in time being, there are model example like a  (bling2 /2 tone/ 36mm / DJ 29mm ) that we can buy in retail prices (just wait and relationship building approach and see how it goes with AD) and i understand in desirable  "hot model" which is hard to get, but keep calm and keep CONSISTENT since we have 5 or 6 AD AT Malaysia....keep call/msg/email/ monthly just to says "hi".... hahhahaaha

[dpkong]

i love its....i will wait until economic solve it especially law of demand and supply...in time being, there are model example like a  (bling2 /2 tone/ 36mm / DJ 29mm ) that we can buy in retail prices (just wait and relationship building approach and see how it goes with AD) and i understand in desirable  "hot model" which is hard to get, but keep calm and keep CONSISTENT since we have 5 or 6 AD AT Malaysia....keep call/msg/email/ monthly just to says "hi".... hahhahaaha

that's the right way to do it... showing interest only in "hot models" makes a customer look suspiciously like someone who just buy to resell.  Good luck and have the money ready for when the call comes.

[ray6969]

i love its....i will wait until economic solve it especially law of demand and supply...in time being, there are model example like a  (bling2 /2 tone/ 36mm / DJ 29mm ) that we can buy in retail prices (just wait and relationship building approach and see how it goes with AD) and i understand in desirable  "hot model" which is hard to get, but keep calm and keep CONSISTENT since we have 5 or 6 AD AT Malaysia....keep call/msg/email/ monthly just to says "hi".... hahhahaaha

that's the right way to do it... showing interest only in "hot models" makes a customer look suspiciously like someone who just buy to resell.  Good luck and have the money ready for when the call comes.

Yes bro..keep calm and show that to AD...we are not a flipper...i understand when its come desirable "hot model", since VVIP is top in the list...then professional flipper (grey market)..last is average normal "joe" (normal customer)... especially in watch games in Rollie /AP/ PP/ VC......keep at least one or two this popular mass manufacture brand....in term of "horology"...i better save my hard earn money to "independent brand", my holy grail is Konstantin Chaykin Joker........

[G.MAC]

Prices have yo-yo-ed so it is hard to tell. The way i look at it today, if you intend to buy the really hot models from the really hot brands; just know that there are challenges in getting one at retail or getting it allocated to you. Either you play whatever game that is going on now and try your luck, pay the premium for one or move on to other equally deserving watches of your money. At the end of the day, the money is yours and what you choose to do with it ultimately is up to you.

[ray6969]

Prices have yo-yo-ed so it is hard to tell. The way i look at it today, if you intend to buy the really hot models from the really hot brands; just know that there are challenges in getting one at retail or getting it allocated to you. Either you play whatever game that is going on now and try your luck, pay the premium for one or move on to other equally deserving watches of your money. At the end of the day, the money is yours and what you choose to do with it ultimately is up to you.

They way i look into "games of watch" especial in Daytona and others "hot model", we pay premium since 1988 until today and keep raising the price (sometime double (100%) the retail prices/ up to 30% from retail prices (depend on model). That is not a "watch bubble", i call its demand and supply law especially limited quantity. Rollie trying to keep pace to 3+1 holy trinity (PP/AP/VC) add with ALS. Almost monopoly luxury watch segment in swiss industry, anyway keep try your luck.     

[mister_lau]

https://www.google.com/amp/s/www.watchpro.com/rolex-breaks-silence-on-alarming-shortages-and-soaring-waiting-lists/

Came across this article, price will soar....

Sent from my ELE-L29 using Tapatalk

[Gentlemen101]

Kinda like self-promotion message from Rolex.

No doubt price for all rollies will shoot up for sure..

[dpkong]

https://www.google.com/amp/s/www.watchpro.com/rolex-breaks-silence-on-alarming-shortages-and-soaring-waiting-lists/

Came across this article, price will soar....

Sent from my ELE-L29 using Tapatalk

I'm curious where the official statement from Rolex the company can be found.

Wonder if it's just more hype generated by those hidden hands to push buyers towards the grey market.

[pleasuresaurus]

https://www.google.com/amp/s/www.watchpro.com/rolex-breaks-silence-on-alarming-shortages-and-soaring-waiting-lists/

Came across this article, price will soar....

Sent from my ELE-L29 using Tapatalk

I'm curious where the official statement from Rolex the company can be found.

Wonder if it's just more hype generated by those hidden hands to push buyers towards the grey market.

It seems that the statement was Rolex responding to an article published on Yahoo!News back in August. They just updated their news article to add the response they got from them. Link below:

https://malaysia.news.yahoo.com/why-the-rolex-watch-shortage-is-a-perfect-storm-144250922.html

Its interesting that these ppl would actually comment on the fact, knowing them they hardly come up with statements at all.

[dpkong]

https://www.google.com/amp/s/www.watchpro.com/rolex-breaks-silence-on-alarming-shortages-and-soaring-waiting-lists/

Came across this article, price will soar....

Sent from my ELE-L29 using Tapatalk

I'm curious where the official statement from Rolex the company can be found.

Wonder if it's just more hype generated by those hidden hands to push buyers towards the grey market.

It seems that the statement was Rolex responding to an article published on Yahoo!News back in August. They just updated their news article to add the response they got from them. Link below:

https://malaysia.news.yahoo.com/why-the-rolex-watch-shortage-is-a-perfect-storm-144250922.html

Its interesting that these ppl would actually comment on the fact, knowing them they hardly come up with statements at all.

seriously? it looks just like a standard canned reply to journalists...

[pleasuresaurus]

Kan? A very typical " its not our fault, they did it" thing too 

[Yoda]

The government advise to keep healthy, the first line of defense against C19. Hence many will take note to keep fit and purchase a smart watch.

During the pandemic many business owners close shop, the luxury watches may not be a priority now.

I foresee in the future the new norm is wearing smart watch. Rolex has to change their strategy in the future. Hope the Rolex collectors will not dislike me

“The only constant in life is change”-Heraclitus

[G.MAC]

The government advise to keep healthy, the first line of defense against C19. Hence many will take note to keep fit and purchase a smart watch.

During the pandemic many business owners close shop, the luxury watches may not be a priority now.

I foresee in the future the new norm is wearing smart watch. Rolex has to change their strategy in the future. Hope the Rolex collectors will not dislike me

“The only constant in life is change”-Heraclitus

It would be great if it were so. I would like that very much.

[dpkong]

The government advise to keep healthy, the first line of defense against C19. Hence many will take note to keep fit and purchase a smart watch.

During the pandemic many business owners close shop, the luxury watches may not be a priority now.

I foresee in the future the new norm is wearing smart watch. Rolex has to change their strategy in the future. Hope the Rolex collectors will not dislike me

“The only constant in life is change”-Heraclitus

It would be great if it were so. I would like that very much.

 

Don't hold your breath though...

One thing about COVID is that people learn many lessons from it and those who don't will be doomed to oblivion.

However, I do not see it having a drastic effect on Rolex. Asking prices on certain models will stabilise and some of the models which were never popular in the first place may even drop as supply becomes more available. But there wouldn't be a bottoming out of the market. I would be very surprised if it did. So long as you bought at retail or discounted, you should be safe.

People may wear sports or monitoring bands but the wristwatch will not lose it's appeal.

[pleasuresaurus]

The government advise to keep healthy, the first line of defense against C19. Hence many will take note to keep fit and purchase a smart watch.

During the pandemic many business owners close shop, the luxury watches may not be a priority now.

I foresee in the future the new norm is wearing smart watch. Rolex has to change their strategy in the future. Hope the Rolex collectors will not dislike me

“The only constant in life is change”-Heraclitus

An interesting subject of discussion. I fully agree with what u say, that Rolex has to change their strategy in the future. However, I disagree with the "why" of it.

See, if we look back in time, the quartz crisis was touted as the Armageddon of mech horology. It almost was, and while the history of it requires a far lengthier discussion than I'm capable of, suffice to say mech watches survived. Not only that though - quartz watches, being as cheap and accessible as they were, made it easier to get in on the whole wristwatch bandwagon. And opened up a new demographic to the industry.

Now, fast forward 50 years, we have a supposed smartwatch crisis looming in to take over the wristwatch segment. Except it actually didn't. It should have, by all accounts. And yet here we are. Still drooling over luxury mechanicals instead of luxury Casio MT-G. Still bitching about Rolex drama instead of moving on. AND changing the skins on our Garmin/Huawei/Samsung to match a Daytona/Luminor/Moonwatch dial. I see the same thing happening - smartwatches are opening a new demographic to the joys of mechanical luxury wristwatches. And being the luxurious discretionary items that they are, there will always be some kind of demand for them one way or another. A distinction between the haves and the have nots, especially so in covid times.

Now, what I do see as the game changer, is actually the Gen Z population. This demographic grew up in a world literally plugged into the net, and experienced numerous crises (financial, climate etc) first-hand. They will likely grow up not being able to benefit from the boom of the previous generations; watching the effect of economic turmoil and inflationary pressure burdening their parents; themselves being burdened with study loans despite having lost their jobs due to mass adoption of AI and automation; watching politicians and leaders pay lip service to societal change, equality and environmental preservation; and be disillusioned by the materialistic capitalism pervading their lives. Being used to the quick and instant gratification of apps and social media, this demographic doesn't really have the patience to bother with a fictitious waitlist or fantastical expression-of-interest list or whatever it's called these days. They want it, and they want it now. Otherwise their attention span roams off to something else. Sure, some may be able to afford  the secondary market prices, but the masses would not. And will eventually gravitate to something else. What will Rolex do then I wonder? Sponsor e-games? Pay influencers? Commission artificial meteor showers? Deploy geosynchronous satellite arrays over the skies of Africa (being the upcoming population/market growth center) to form Sky(maybe Space by then)Dweller constellations? I'd like to live long enough to see it.

[Gentlemen101]

Smartwatch is wearable health device designed to collect the data of users' personal health and exercise.

Mechanical watches are jewelry…

If merely to tell time, use hp better, comes with weather info too 

All younger gen buying watches to put them ahead of someone else …very little buying for the love of horological…

[IamJacky]

https://www.youtube.com/watch?v=rLB27j4vZnU

A well made video that I personally agree with what's going on with Rolex/AP/PP