Reply With QuoteMy guess is they have reached peak desired stock… every bank account has a limit. Apart from the ‘new’ money crypto kids… they’ll drive prices up while that sun is shining.
Not disappointing at all. Just surprised. For years and years now they have been my first port of call to get an offer on any of my watches that I wanted to sell.Originally Posted by jwg663
Quite happy to try other people or companies, didn’t think I inferred that Watchfinder were the be all and end all of watch buyers. Simply surprised.
My guess is they have reached peak desired stock… every bank account has a limit. Apart from the ‘new’ money crypto kids… they’ll drive prices up while that sun is shining.
And if this happens, value of Rolex will be the least of our worries.
Crypto is an odd one. Lots of young kids coming in my place asking if we take it as payment for Mercedes-Benz (which we don’t) and then saying “I’ve got x squillions worth of bitcoin* and can’t spend it here or BMW etc”
There’s a guy local to me who’s infamous in social media circles and the gutter press for being a “crypto trainer” and everyone who signs up to his “subscription” and follows his “signals” seem to lose out following an initial gain but he’s happy enough driving around in his various leased cars and posting on Instagram. A mutual acquaintance introduced us as he was interested in an AMG I had in stock, but when he spotted my Hulk and said “Sick Rollie Bro, sell in me now I’ll give you overs” and I declined, he seemed less than happy…. Less so when I told him we couldn’t take Bitcoin for his deposit on the finance.
Is he as rich as he seems? On paper (or spreadsheet?) undoubtedly so but in real money? Difficult to tell.
*other Monopoly money is available
You sound like my brother.
" whats the time on your watch ? Oh look the same as mine just mine cost 50 times less than yours. "
:-)
Morgan Housel - "Wealth is what you don't see"
From the article, "Someone driving a $100,000 car might be wealthy. The only data point you have about their wealth is that they have $100,000 less than they did before the bought the car"
Not even, the chance is they're on financing, so you don't even know if they spent 100k....
Indeed.
All sorts of young lads driving around here in flash motors. You can bet the majority are on lease.
Cheers,
Neil.
A relative got a BMW Coupe on finance
He wasn’t too pleased paying £600 for a minor service
I asked why he didn't purchase outright
He said ‘I wouldn’t want to actually spend 60k on a car!’
I get the lease/ finance comments above. But as a sidetrack to the thread, me & partner were looking to upgrade our car (expanding family) the price we set for a low mileage second hand motor was roughly £20k. Now we ended up the PCP route which we didn’t even think on a brand new £34k car on 0% interest and some discount on top. Now over the 3yrs we have it we pay less than we were going to originally spend. Yes there will be a big outlet potentially in 3yrs time (but also we the plan to go hybrid will be more economical for us).
Just to add we are home owners and both above the national average wage income.
Thought worth pointing out not all bad on finance.
Sorry for the thread distraction.
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About 6 weeks ago I sold a Rolex Deepsea and an Omega Planet Ocean via Watchfinder. I was offered more for the Omega than expected and a little less for the Rolex than expected. That said, the total sale price was better than what I had paid several years ago so happy with the deal. I liked the fact that you got paid quickly and once the watches were gone, there was no comeback; also avoided all of the risks and hassle of a private sale.
On checking Watchfinder over the last few weeks, the Omega sold very quickly. The Rolex is still for sale. Interestingly there was 29 Deepsea's for sale a few weeks ago and now they have 25. Not sure therefore why the OP didn't get an offer, my best guess is either they are not selling or the Watchfinder shelves are full.
Watchfinder also have a lot of the same stock they do not have listed on their website and only advertise it once x amount sell.
Don’t pollute the forum with your “real life” sensibilities. If you can’t afford an Aston Martin or a 911, numerous Rolex and a wardrobe full of Belstaff jackets and Church’s brogues you’re a pauper who doesn’t belong here…..
I’ll get my coat
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The end of the world is nigh!
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I received a similar generic email and then 2 days later received a good offer.
I'd say the initial email was automated Think they maybe moving away from insulting low balls.
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That’s the point. I’ve seen watches listed on eBay stickered and even unsized.
Seems to me like it's a giant pyramid scheme, enabled through social media hype. Effectively the tokens go up in value if you convince enough people around you to buy them (magnified at a global level), at which point because they go up in value some more people are convinced to buy them, and so it continues.
I see this happening on my own social media constantly, where I'll see some acquaintance talking up the latest coin with a chart and a link to info they of course don't remotely understand or fact check, but nevertheless recommending it because "it's going to the moon" with a few rocket emojis and a promise they made a load of money this week. Then you see people in the comments asking how to purchase these coins (Shiba seems to be the latest noise I keep hearing about), hence fuelling further speculation. Presumably somewhere at the end of it all enough people will try to cash out and the whole pyramid collapses because at the end of the day it's just... nothing?
That said in the interest of balance, I've been wrong on this for a long time now, so perhaps I'll keep being wrong.
I keep thinking the pyramid will come crashing down. It has to doesn't it?
However this thread prompted me to login to Chrono24 where they have useful tracing graphs. Seems the prices have gone up significantly in the last few months for a lot of the popular models, which surprised me.
You can come out of the bubble now and join the world. It is somewhat safe:-)
I saw something amusing on Instagram. One Hatton garden dealer says that Hulks are flying again. 21.5k for a stickered 2019 example. "Be quick"
Why would anyone want to be quick to buy a vastly vastly overpriced watch? What am I missing?
Thank you for your permission sir.
I assume they are suggesting that by next month it will be even more overpriced. This is their business model.
I received a follow up email from Watchfinder wondering why I hadn't ripped their hand off the moment I heard their offer for my Nomos. In turn I wondered if this was what people who delight in fashionable neologisms mean by gaslighting?
C24 are telling me that my 2016 Speedmaster is worth 4.2k. It's not for sale, but if I bumped into someone in the street and they offered me that I'd rip my own arm off.
I'd say £3.3k currently but give it a year when the outgoing model is sold out and it'll be worth near that I'd say.
Put both my current Rolex’s in for a price this week (126610LV & EXP2 216570). Strong bids on both and the polar was about what I would pay if advertised on here. So I guess the world is still spinning on those two.
I have a similar view. "buy what you like". I have a sub and date sub and a SD and these are going to the kids. I prefer Omega chronographs and Breitling chronos. I know price retention is nothing like Rolex, but to me the choices in design trump that and the B01 movement in the latest Chronos arguably are the best movements coming out of Switzerland even Tudor use them in their top models. Rolex, for me, is flotsam in the water to be picked up by the "nouveau watch accumulator" who thinks of value retention and "investment" potential.
Could well be cashflow issues???
When Rolex brought out the latest perpetual with the funky coloured dials, RRP £4700, i thought I would get a pink one for the missus and a turquoise one for me.
How silly of me. Currently £13300 each on Chronext
A “Tiffany blue” (is that the turquoise?) one can be had on eBay for £14,500 so not too far off 3x RRP for an Oyster Perpetual that officiandos would have turned their noses up at 3 years ago - or asked for some whopping discount.
So if you call turquoise Tiffany blue you can add an extra grand? Nice
I'd say little doubt. No sign of prices dropping but they've suddenly gone from buying everything Rolex to nothing? If it were an expected market downturn, they'd simply offer less, not refuse.
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Fur coat and no knickers in my opinion, they usually follow it up with a comment like ‘I’m keeping my disposable cash for other things!’ What like food and paying your bills and massive mortgage for the flash house you also dont own. Just a Truman show.
Why not own a car you can afford that does the same job which wont extend ones penis nor compensate for a lack of hair but is yours and does the same thing by getting you from A to B
RIAC
Well somebody has to buy the new, more expensive cars for those who want buy cheaper older cars to have cars available to buy.
One reason: it doesn't look so good on the What Do You Drive thread, to impress your online friends.
Same, on the list for one for my good lady. AD didn’t fill me with confidence that I will see any time soon.
36 is bonkers on Chrono24 , the 34mm a premium of circa £2k so more palatable. This however is not the “dusky pink”.
I’ve had another thought. Maybe they’re overstocked because all the TZ community are selling direct to them rather than venture onto SC to be sniped at in other parts of the forum by people who don’t ever actually have any input about watches, but mainly just post about Brexit, share prices and carry out forum police work and carrying out vendetta’s, ironically whilst preaching the rules and “spirit of the forum” oblivious to Eddie’s rule that the BearPit is “not a place for personal vendettas”
When this thread first appeared on the WF website they were showing 911 Rolex watches. Its now at 826, maybe it was a case of contacting them at the wrong time and they were not wanting any more? It may be worth sending them another email.
Same online friends that people post their new Rolex incomings to or indeed the Friday thread.
Same rules apply.
Just don’t post them on the same shot though with loafers and no socks-a step too far.
Mince Trotters you mean?
Cheers,
Neil.
Wow. I watched some stuff on YouTube earlier, Chrono24 were talking up the less popular Rolex models; not classic and not the very latest or most sought after, but the current supposedly affordable ones (does that exist?). This to me screams of buy any Rolex whilst you can as they are only going one way (a bit like PP); and that is upwards. Rolex are not happy to meet demand, demand is through the roof according to my AD; whom have confirmed my odds of taking delivery of the 124060 I have been on the expressions of interest list for a year for, is about the same as me winning the lottery. Also out of interest perhaps, Watchfinder offered me great offers on my Omega and Breitling recently; better than anything suggested on my ads in SC. All the best. I seriously think Rolex watches are worth hanging on to, I kick myself every day for selling my 214270 on here.
^ I mistakingly sold a Rolex once - I've learned my lesson.
I guess it'd be a pretty slow page if it were titled "What Vehicle Do You Own Outright" thread.
Yep, never again
Really. I wonder why Chrono24 would push the idea that you should buy up watches quick before they go even higher.
I am of a different view. Over the last 24 months some people have made off like bandits and spent this additional income on things like new houses, extensions, gardens, hot tubs etc. Not many have put away for a rainy day! Some arguably smarter people bought watches.
With the cost of living going up people who have stretched themselves will might struggle a little more.
These watches aren't being hoovered up by the rich a wealthy. Most are being bought up by your everyday person.
As soon as things start to get a bit tight the demand will drop a little. The supply will increase (as people start to sell) and the price will fall. As the price falls the scalpers margins will drop. The demand again will likely drop as people buying to sell will start to question whether it is worth it.
For me buying a Rolex at current prices is a terrible investment.
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