Has the Rolex bubble finally burst? Perhaps it has
Discussion
LeadFarmer said:
I bought a brand new white dial Exploer 2 back in 2006. They were selling for £2,500 at the time, but I flew to Geneva to buy it and got it for £2,000. I actually bought it for my unborn son at the time, to give to him when he is 18 or 21, my father had just passed away and left me a little bit of money, so bought it to remember him by, and to pass on.
Any idea what this model is worth now?
Depends on condition but a nice version of yours is retailing at £5-7k at present.Any idea what this model is worth now?
Does anybody have a feel for if the vintage market has dropped too? I've a nice 1665 (sea dweller), with lots of history and a fresh rolex service (so 2 year guarantee) which I'd thought about selling at the start of the year, but decided not to. Since being locked down I've not worn any of my nice watches and havent missed them at all, and thought I might sell and put towards a weekend car... trouble is pricing is a nightmare with Chrono24 having a spread of about 10k from cheapest to most expensive (thats without getting into raildials and red text, neither of which I have).
rog007 said:
Put it up for sale and what your best offer is is what the market will pay. It’s fairly standard when selling any stuff?
Insightful, thank you. Unfortunately I’ve learned that when selling expensive items it’s rarely as straight forward as it should be. It sounds like you’re recommending an auction type affair, which isn’t for me. I’d sooner establish a fair market price and take offers around that, unfortunately the ‘market’ is based on old data, hence me asking the question.
Ignoring any of the tosh that been written,
So many variables with watches, condition and provenance is everything , also consider your own position, do you need to sell ? Happy to sit on it until a fair price is achieved ? That will affect what you ask .
As best you can compare look at the market, and compare what traders / private sellers are similar models for, it’s often difficult to pitch yourself in the right ‘ballpark’ but you’re doing the right thing and researching !
If you drop me a pm with all the info I ll take a look for you.
Maxf said:
rog007 said:
Put it up for sale and what your best offer is is what the market will pay. It’s fairly standard when selling any stuff?
unfortunately the ‘market’ is based on old data, hence me asking the question. rog007 said:
I understand that Chrono24 is based on up to date data? If you lodge your own watch as part of your collection, it will give you a spread of sales lodged on their site.
Normally yes but It’s quiet slow at the moment and relies on sales happening.The GMT 116710LN (For instance) predicted values are much higher than the prices the watches are actually on sale for but if nobody is buying those watches the predicted value remains higher.
Look at the 116710LN for instance. Showing a spread of value with a low end of £8500
Looking in the sales section though there are loads of watches there that aren’t selling and prices for many under 8,500 and actually lots under £8,000 but they've been there for ages.
The low end is actually around £7,000 not £8,500 just that at the moment it’s skewed as sales have dropped off.
But then doesn’t that give you the indication of what one may actually sell for, one that is below the bottom end of those you’ve spotted that aren’t selling? So if bottom is £7k and hasn’t sold, you’d try say £6750 and see if it sells then. If not, try £6500 and so on until it sells. Then you have your evidence of what the market thinks your watch is worth at that moment in time?
rog007 said:
But then doesn’t that give you the indication of what one may actually sell for, one that is below the bottom end of those you’ve spotted that aren’t selling? So if bottom is £7k and hasn’t sold, you’d try say £6750 and see if it sells then. If not, try £6500 and so on until it sells. Then you have your evidence of what the market thinks your watch is worth at that moment in time?
Yes that’s my point the estimated value chart is artificially high as watches aren’t being sold as much as normal. The chart is lagging due to lack of sales.The low end of the chart is £8.5 but it should be really nearer £7 but as watches aren’t selling the chart needs more watches to sell to reflect the real value.
rog007 said:
But then doesn’t that give you the indication of what one may actually sell for, one that is below the bottom end of those you’ve spotted that aren’t selling? So if bottom is £7k and hasn’t sold, you’d try say £6750 and see if it sells then. If not, try £6500 and so on until it sells. Then you have your evidence of what the market thinks your watch is worth at that moment in time?
Then you blight your sale... nobody likes something up for sale which drops and drops slowly in price. It pangs of desperation or something dodgy with the item.C24 is fine for new and modern stuff, but there are so many factors with vintage watches which makes the value spread actually more confusing... the spread on my SD is 12-26k... 12k example might be rough with a service dial and hands, the 26k might be a rail dial with box and papers... so not much use really without the ability to see the underlying data
Edited by Maxf on Sunday 7th June 18:16
LaurasOtherHalf said:
LeadFarmer said:
I bought a brand new white dial Exploer 2 back in 2006. They were selling for £2,500 at the time, but I flew to Geneva to buy it and got it for £2,000. I actually bought it for my unborn son at the time, to give to him when he is 18 or 21, my father had just passed away and left me a little bit of money, so bought it to remember him by, and to pass on.
Any idea what this model is worth now?
Depends on condition but a nice version of yours is retailing at £5-7k at present.Any idea what this model is worth now?
mcpiston said:
I'm curious, have the Rolex retailers opened back up yet, and if so, have all those people that got calls from them, and paid 100% deposits, collected their watches.
It seems they are, I’m picking mine up this Saturday, been given an hour appointment for the collection , fitting etc. Will try and find out how my name on the Daytona list is doing at the same time .
whatleytom said:
I've been having to go past my local AD a few times in the last week, has had some interesting stock. A bimetal sub in the window, with two yachtmaster IIs. A few days later a white gold yachtmaster 42, a rose gold 40 and a skydweller. Barely seen more than datejust before lockdown.
What model Sky-Dweller?Gassing Station | Watches | Top of Page | What's New | My Stuff