Has the Rolex bubble finally burst? Perhaps it has
Discussion
traffman said:
Gitwhoismiserable said:
JEA1K said:
Silly me, I had forgotten about 2020 already. 
Based on the interest in Watchfinder on this thread, I have submitted details of the watch to get an offer. They've responded.
Any guesses as to what they are willing to pay for a brand new Seadweller 126600? Winner gets a potentially COVID infected Bic biro ...
How much do you want for it ? Based on the interest in Watchfinder on this thread, I have submitted details of the watch to get an offer. They've responded.
Any guesses as to what they are willing to pay for a brand new Seadweller 126600? Winner gets a potentially COVID infected Bic biro ...
Wasn’t long ago they just had the one little shop and was a small website and posters saying ask for whatshername all the time.
Obviously they offer much less than they sell for but they’re obviously asking and offering the right amounts because people are buying and selling with them and trading in watches and watchfinder are basically coining it in.
Much of their success has been over a rising market though and they have opened new shops etc since then.
It amazes me that people still moan about Watchfinder buy & sell prices, like it’s a new thing.
I have little regard for Watchfinder – never used them to sell or buy, and I doubt I ever will.
But they are a business, after all – they are there to make money. Want more for selling a watch? Then sell elsewhere privately via a Forum, eBay, Facebook, Chrono24 or whatever. But those routes all offer more potential for hassle, work, scammers etc. Perhaps Watchfinder are less generous than other trade buyers, but that’s where a bit of leg-work comes in.
Rent, rates, tax, insurance, staff, utilities, servicing, IT, fees, marketing, shipping, warranty returns etc. Plus large amounts of money tied-up in stock. Even for ‘brand new’ watches bought-in that Watchfinder barely have to touch, there’s still a lot that goes on between issuing the offer e-mail and selling the watch at the other end.
I doubt their website asking prices are that firm either – I’d expect discount without much prodding.
Those disappointed souls with their buy offer from Watchfinder – how much margin do they think their Authorised Dealer made when selling them the Rolex in the first place? It’s probably circa 35-40%, but that is a ‘hidden’ cost, and most think they’ll make money selling the watch later anyway so no-one complains overly and stumps up the cash.
Watchfinder’s 31st March 2019 Accounts show their Turnover was £113.5m. Minus the £93.6m cost of those sales (most of which will be stock buy-in costs). Further deduct £13.5m of Admin etc. expenses and you’re left with Operating Profit of just over £6m. After Tax, they made £5m profit, all told.
Again, I couldn’t give a toss about Watchfinder one way or the other, but it’s hardly daylight robbery. It’s business.
It’s like no-one has ever watched an episode of ‘Pawn Stars’.
I have little regard for Watchfinder – never used them to sell or buy, and I doubt I ever will.
But they are a business, after all – they are there to make money. Want more for selling a watch? Then sell elsewhere privately via a Forum, eBay, Facebook, Chrono24 or whatever. But those routes all offer more potential for hassle, work, scammers etc. Perhaps Watchfinder are less generous than other trade buyers, but that’s where a bit of leg-work comes in.
Rent, rates, tax, insurance, staff, utilities, servicing, IT, fees, marketing, shipping, warranty returns etc. Plus large amounts of money tied-up in stock. Even for ‘brand new’ watches bought-in that Watchfinder barely have to touch, there’s still a lot that goes on between issuing the offer e-mail and selling the watch at the other end.
I doubt their website asking prices are that firm either – I’d expect discount without much prodding.
Those disappointed souls with their buy offer from Watchfinder – how much margin do they think their Authorised Dealer made when selling them the Rolex in the first place? It’s probably circa 35-40%, but that is a ‘hidden’ cost, and most think they’ll make money selling the watch later anyway so no-one complains overly and stumps up the cash.
Watchfinder’s 31st March 2019 Accounts show their Turnover was £113.5m. Minus the £93.6m cost of those sales (most of which will be stock buy-in costs). Further deduct £13.5m of Admin etc. expenses and you’re left with Operating Profit of just over £6m. After Tax, they made £5m profit, all told.
Again, I couldn’t give a toss about Watchfinder one way or the other, but it’s hardly daylight robbery. It’s business.
It’s like no-one has ever watched an episode of ‘Pawn Stars’.
Watchfinder are a business. The lower they can buy and higher they can sell = more successful business! I don't get all the complaining when they are sitting on loads of stock and not looking to buy in more - they've been caught out like many, many others. Especially now when the economy is in the s
tter.
The SD43 is a phenomenal watch, buy it, wear it, enjoy it! I doubt it will ever be worth less than retail on the pre-owned market! Dealer on FB just turned one around for £11k+ in under 24 hours.
tter.The SD43 is a phenomenal watch, buy it, wear it, enjoy it! I doubt it will ever be worth less than retail on the pre-owned market! Dealer on FB just turned one around for £11k+ in under 24 hours.
JEA1K said:
Yes I expect they're closed for retail ... they said I couldn't collect until they re-open ... whenever that is. The call I received was from a girl on her mobile so expect they have staff working from home.
Did they want full payment? see other thread, has anyone got a call from Rolex.gregs656 said:
POORCARDEALER said:
Watchfinder made the following offer on my friends Gold Submariner 9 months old, perfect with box and papers £16300, this is back in January.....they be asking at least £23K for it and some
Shock as business tries to make money.harleywilma said:
JEA1K said:
Yes I expect they're closed for retail ... they said I couldn't collect until they re-open ... whenever that is. The call I received was from a girl on her mobile so expect they have staff working from home.
Did they want full payment? see other thread, has anyone got a call from Rolex.Guess also no new Bat-type watches coming out this year if the postponed Rolex and Tudor launches don’t happen now until next year?
rog007 said:
Got a nice call from AD letting me know that the Batgirl I’d been waiting for was in. Picking it up once the store reopens. Lovely watch and can’t wait to see it in the flesh.
Guess also no new Bat-type watches coming out this year if the postponed Rolex and Tudor launches don’t happen now until next year?
You jammy git I hope I get an email about mineGuess also no new Bat-type watches coming out this year if the postponed Rolex and Tudor launches don’t happen now until next year?
Stu-nph26 said:
rog007 said:
Got a nice call from AD letting me know that the Batgirl I’d been waiting for was in. Picking it up once the store reopens. Lovely watch and can’t wait to see it in the flesh.
Guess also no new Bat-type watches coming out this year if the postponed Rolex and Tudor launches don’t happen now until next year?
You jammy git I hope I get an email about mineGuess also no new Bat-type watches coming out this year if the postponed Rolex and Tudor launches don’t happen now until next year?
There seem to be a few anecdotes about sought after / back order items arriving just before lock down.
It's almost as though people nearer the front of the queue have "come off" them and the retailers are moving down the list.
One wonders whether they would still have "arrived" had lock down not been imminent.
So said:
There seem to be a few anecdotes about sought after / back order items arriving just before lock down.
It's almost as though people nearer the front of the queue have "come off" them and the retailers are moving down the list.
One wonders whether they would still have "arrived" had lock down not been imminent.
Colleague of mine turned down a place as she was asked to pay in full now but only allowed (by the dealer) to collect her watch once lockdown had finished. It's almost as though people nearer the front of the queue have "come off" them and the retailers are moving down the list.
One wonders whether they would still have "arrived" had lock down not been imminent.
El stovey said:
So said:
There seem to be a few anecdotes about sought after / back order items arriving just before lock down.
It's almost as though people nearer the front of the queue have "come off" them and the retailers are moving down the list.
One wonders whether they would still have "arrived" had lock down not been imminent.
Colleague of mine turned down a place as she was asked to pay in full now but only allowed (by the dealer) to collect her watch once lockdown had finished. It's almost as though people nearer the front of the queue have "come off" them and the retailers are moving down the list.
One wonders whether they would still have "arrived" had lock down not been imminent.
El stovey said:
Colleague of mine turned down a place as she was asked to pay in full now but only allowed (by the dealer) to collect her watch once lockdown had finished.
I wouldn't mind paying upfront for something I really wanted, as long as it's via credit card for Section 75 protection, just in case dealer goes tits-up before delivery.Gassing Station | Watches | Top of Page | What's New | My Stuff