Malaysia Watch Forum
Main Forums => General Discussion - Modern Watches => Topic started by: Yikkie on February 06, 2017, 03:38:25 PM
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Do you guys think that Rolex watches are now over priced after the many rounds of price increases? For example, one could obtain a Sub C for less than 21k only 2+ yrs ago and it is close to RM30k now with little to no discount. On the flip side, the value retention is excellent and does that make it a horological bargain? What do you think? Do share your opinions.
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I regreted not buying a dozen years ago.
Dont think will come down. If cant afford new ones preowned available easily. If less demand here somewhere far from here has the demand.
So tell me how to come down the prices?
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I bought a brand new submariner 116610LN in early 2014 for 23,800!!! It is even impossible to get that price in a pre owned condition now!
But yes, it was before GST and our currency issue so i think the Brand is trying to sustain their company which is normal i guess :)
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if all competitor price have went up then it's the new NORMAL.
I am sure the brand proposition of Rolex or any other brand you like can't be imitated by another.
People who buy Rolex will want Rolex. just a matter of maybe saving longer or going for lower end models. Doubt they will switch to other brand unless they are borderline case and not a watch hobbyist.
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i think not all rolex models can hold on its resale values eg. sub, gmt2, daytona..
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Currency and gst reflected tremendously.
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I regreted not buying a dozen years ago.
Dont think will come down. If cant afford new ones preowned available easily. If less demand here somewhere far from here has the demand.
So tell me how to come down the prices?
When supply outstrips demand, this happens every time in a economic cycle ie. we are in a technical recession in case most aren't aware.. most industries are paying very low increment and bonuses
aside from the several popular sports model, in a country undergoing technical recession, the secondary market should see a price correction as supply outstrips demand
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I regreted not buying a dozen years ago.
Dont think will come down. If cant afford new ones preowned available easily. If less demand here somewhere far from here has the demand.
So tell me how to come down the prices?
When supply outstrips demand, this happens every time in a economic cycle ie. we are in a technical recession in case most aren't aware.. most industries are paying very low increment and bonuses
aside from the several popular sports model, in a country undergoing technical recession, the secondary market should see a price correction as supply outstrips demand
Our Bolehland may be suffering a technical recession as you stated. But the watches are sold like hotcakes in the western countries and the US. If you have one for sale at a lower than market price please sell it to me. The demands in the overseas is still strong.
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i have to agree with Yoda. Rolex watch is a luxury item. So pretty elastic pricing.
People who own them wont want to sell you cheap cause they don't need the money.
The pre own shops are also not selling you cheaper unless they get it cheap which means they got to find a dumb seller which is quite rare nowadays with the internet and forums help sharing information to all. With some research anyone could get an idea on the market pricing.
Well this is just my opinion only.
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Understand your point, but the world economy is in shits, not booming
being old enough to go through the economic crisis in 1997s and tech bubble crisis in 2000s
during those times, our stock market crashed - big time and property prices hit floor bottom
when that happened people are more worried about servicing loan installments, defaults and paying school fees than buying watches
when that happens the 2nd hand dealers will sell at floor bottom prices for cash
it didn't matter then and won't matter when it happens again, simply because watches are not an asset class
asset classes hold better value than what they are, expensive accessories? hmm
just to answer the question - how prices can come down, not saying i want them to come down :)
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Rolex increased their price almost every year regardless how many percent, people still keep on buying and i assume most of us, particularly in this forum still buying so it would be a normal thing IMO :)
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And that's why Rolex has Tudor at the sides. Want the legendary Rolex quality but at a lower price? Sure, take off the Crown (and have the Shield or Rose), use another in-house caliber, make do with 316 instead of 904 steel, etc. At the end of the day, there are lots of other brands in the market that would serve various price points in the market. Heck, Rolex is not even the most expensive watch brand in the industry. But it does have massive marketing know-how and history in its strides.
Historical data has the Rolex pricing on an uptrend over time, and it would be unwise of Rolex to reduce the prices of its bread and butter pieces e.g. Daytona, SDC, Sub, Eii, etc (so-called over-priced pieces) just to cater to the everdayman. Simple economics. Instead, it would capitalise on the everyday man's urge towards owning a Rolex piece by creating a more affordable model e.g. Air-King and Explorer. This way, it captures the relatively lower-end market; and when the said person moves up the rank, the likelihood of him wanting a more premium Rolex piece due to brand loyalty, would be present.
If you were worried about a stock market crash, servicing loan instalments, school fees, etc, you wouldn't be in the market for a Rolex at the interim period. Similarly, if the owner was facing a predicament such that he has to liquidate his Rolex for cash, do you think that he would try to get as much cash as possible for the piece (and Rolex pieces tend to move rather fast, just look at some of those in the WTS section), or simply throw it with a fire-sale?
I would say, look at Rolex for purely what it is- a nice watch that is time-tested. The fact that it holds its value over time, is an added bonus. To hope that Rolex would lower its prices across the board because the market is down, would be like Robin Hobb's Tawny Man Book One. Just my 2 sen. I could stand corrected.
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Most definitely overpriced. I bought a ceramic Submariner in 2014 for RM23.5K and thought it was already dear.....currently it's over RM34K. IMHO, not worth paying the present price.
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Expensive to buy, but "cheap" to own.
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Yes Rolex is raising the bar especially for locals who are earning RM. My guess is foreign/tourists sales are still strong, especially when prices are reasonable or even lower when compared with US prices.
As an example, Air King here is selling at premium close to 26k, and 2016 Explorer a couple grand lower. General perception is mid-20s is a lot to pay for entry level sport models, but it's still cheaper when you compare with what established US grey dealers are selling them for.
Personally I would just bite the bullet as a price correction is unlikely. Alternatively shop for pre-owned pieces.
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Expensive to buy, but "cheap" to own.
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:thumbsup:
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Sadly i dont think they are worth the prices they are hitting now... they are a fantastic watch(ive got 6 of them) but there is a point that you are catching up to boutique brands like AP and PP and as much as i love my Rolex's they are not the same calibre of the finer swiss boutique watches. Along with them controlling supply creates more demand.. more demand drives up the price.
Perfect example Nike will put out a limited run of a shoe and people loose their mind and pay crazy prices for them any way they can, they are not made any better then the standard range but you will pay it for having the prestige associated with have that "model" so to speak
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Rolex overpriced since 1905
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Rolex overpriced since 1905
1957 for the sports model ;D
avoid the several popular sports models and the overpriced factor would not play such a big part
on a side note, Chanel classic models are also overpriced :Cheers:
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If you dont buy, it will only cost more later.
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what overprice ? it is mere price adjustment for our currency weakness mind you .... 2013 MYR3.00 fast forward today RM4.42 that is 47% drop. Your Rolex price in 2013 has gone up by 47% ? No so it is still undervalued .... buy now :HammerHead: :Laughing_on_floor:
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what overprice ? it is mere price adjustment for our currency weakness mind you .... 2013 MYR3.00 fast forward today RM4.42 that is 47% drop. Your Rolex price in 2013 has gone up by 47% ? No so it is still undervalued .... buy now :HammerHead: :Laughing_on_floor:
:Laughing_on_floor:
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It is indeed overpriced.. It looks ugly and overhyped
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If you dont buy, it will only cost more later.
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i heard that alot everytime i went to new property launching ..lol
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If you dont buy, it will only cost more later.
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i heard that alot everytime i went to new property launching ..lol
When was the last time Rolex reduce prices? If ever?
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Rolex AD don't have many submariner ready stock.
Rolex sports and GMT demand always over supply
BTW, Swatch also over priced.. plastic watch also sell 300+
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quite frankly i would agree Rolex watches now are overpriced. that said, people who really buy Rolex are already in an income bracket and state of mind where "overpriced"doesn't affect them.
personally, id rather drop 30-40k more and get something more in line with what i feel has a better movement
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personally, id rather drop 30-40k more and get something more in line with what i feel has a better movement
What's wrong with Rolex movement?
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I think the reason for the huge jump in prices is not because of rolex but because of our exchange rate, so it's not "overpriced" per se, but rather that we have become poorer.
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that is no such thing call overprice in horology.... does heritage couple with few piece of parts/component produce by CNC machine worth for thousand of dollars? ;D
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personally, id rather drop 30-40k more and get something more in line with what i feel has a better movement
What's wrong with Rolex movement?
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Nothing is wrong with the movement, but I am not paying 50k for a daytona when the only thing that's contributing to its value is the name. The movements themselves are pretty much mass manufactured.
Might as well go along with a patek nautilus/vc overseas. You get my drift.
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personally, id rather drop 30-40k more and get something more in line with what i feel has a better movement
What's wrong with Rolex movement?
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Nothing is wrong with the movement, but I am not paying 50k for a daytona when the only thing that's contributing to its value is the name. The movements themselves are pretty much mass manufactured.
Might as well go along with a patek nautilus/vc overseas. You get my drift.
i wouldnt say its just the name... rolex movements are known for reliability and the fact they go for decades without issue... they are also 904L stainless steel and have their own foundry for their metals. They make all their own parts and they are still hand assembled so i wouldnt say its just the name you are paying for....
Marketing plays a massive part of it dont get me wrong but you are still paying for a quality product. My AP Safari had continual time keeping issues and after the poor customer service and 3 month wait to get it back i will never buy another one.
Im not justifying some of the crazy prices people are asking for Rolex's and i agree they are a bit overpriced but for "bang for buck" they are a safer purchase then a AP or PP..... no matter what rolex model you can wear it daily and know it will take a beating and keep on ticking... cant say the same for some of the more expensive boutique brands
this is just my opinion take it or leave it
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i wouldnt say its just the name... rolex movements are known for reliability and the fact they go for decades without issue... they are also 904L stainless steel and have their own foundry for their metals. They make all their own parts and they are still hand assembled so i wouldnt say its just the name you are paying for....
Marketing plays a massive part of it dont get me wrong but you are still paying for a quality product. My AP Safari had continual time keeping issues and after the poor customer service and 3 month wait to get it back i will never buy another one.
Im not justifying some of the crazy prices people are asking for Rolex's and i agree they are a bit overpriced but for "bang for buck" they are a safer purchase then a AP or PP..... no matter what rolex model you can wear it daily and know it will take a beating and keep on ticking... cant say the same for some of the more expensive boutique brands
this is just my opinion take it or leave it
It is unfortunate for AP to leave a sour experience for you. Different folks different strokes, mine worked fine. I do agree that Rolex does significantly less reported issues than brands like AP/PP, and that perhaps is another major contributing factor for people to consider
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Demand and supply. Many people want to be associated with wearing a Rolex piece. It's well-known to the general public and holds its value well. It's a sound purchase. Period. I remembered when I advertised an Eii some time back, there was a chap whom tried to convince me to lower the asking price by some 20% telling me that it was a buyer's market and that he could get other GMT watches at much, much lower prices but the function was the same. I then advised him to go for the "other GMT watches" to save the monies. When the Eii was sold off a couple of days later, he had the cheek to come back and claimed that I should have negotiated with him and that he might have eventually pay my asking price. I informed him that there was no need to do so, as i know that a Rolex sells so it was not necessary to negotiate to and fro. If it was a Tag Heuer or Oris, then probably the negotiation process was necessary.
There are far more complicated and expensive watches than Rolex, but the market could be limited to watch connoisseurs so flipping could be relatively slower. Anyway, watch prices were relative to one's consideration. Consider the new Sky-Dweller in s/s and WG- I think that it's an absolute steal at RRP : RM58k before GST, in relation to its complication and previous precious metal pricing. In fact, I am looking at some consolidation to build up some funds towards the piece if I could get it without premium. Plus I know that it would hold its value over time. Another chap told me that the same monies would be better-spent on a Hublot Big Bang; but personally, it does not speak to me. So the Sky-Dweller would be over-priced to him but not to me, ditto the Big Bang vice-versa.
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i wouldnt say its just the name... rolex movements are known for reliability and the fact they go for decades without issue... they are also 904L stainless steel and have their own foundry for their metals. They make all their own parts and they are still hand assembled so i wouldnt say its just the name you are paying for....
Marketing plays a massive part of it dont get me wrong but you are still paying for a quality product. My AP Safari had continual time keeping issues and after the poor customer service and 3 month wait to get it back i will never buy another one.
Im not justifying some of the crazy prices people are asking for Rolex's and i agree they are a bit overpriced but for "bang for buck" they are a safer purchase then a AP or PP..... no matter what rolex model you can wear it daily and know it will take a beating and keep on ticking... cant say the same for some of the more expensive boutique brands
this is just my opinion take it or leave it
Sorry to hear your safari sour experience. The AP's 3126/3840 movement and 2120 movement are more "fragile" compare to 3120.
I myself and another forum member from MWF have bad experience with the inferior quality of the RO bracelet. The bracelet corroded, yes. corroded and you can see the rusty mark on bracelet.
His watch was sent back to Singapore AP service center to repair/touch up the bracelet more than 3 times and mine is 2 times. At the end the AP replace the whole bracelet FOC. :-\
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Yes I felt Rolex is overpriced now some how.
They are fabricating in mass production but due to demand over supply therefore price increase twice a year.
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anything in business are overpriced
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https://www.hodinkee.com/articles/why-isnt-rolex-considered-one-of-the-big-three