Has the Rolex bubble finally burst? Perhaps it has
Discussion
Algarve said:
I bought mines to keep forever, value of it was never really a major concern at the time of purchase. But now going into month 8 of zero wages its certainly a massive plus point knowing its effectively turned into an enjoyable saving account that could be cashed in with minimal hassle if I wanted to / needed to.
I originally bought a GMT around 15 years ago - red and blue dial. It cost me £2,350. It was worth 2-3 times that when I gave it away to a family member. Maybe I should have kept it, the cheapest one on watch finder is 12k now
My own current GMT was a simple, enjoyable purchase. No messing about with waiting lists or anything else. I bought another Rolex for mrs last year too, I can't remember what that one was so I can't check how much that's worth now. But like mines there would be zero intention to sell it. Again no hassle to buy it.
I think price gains alone would entirely remove any interest I may have ever had in considering other brands for my next watch when I start getting paid again.
For casual buyers like me that have no interest in watches as a whole, I can't see Rolex waiting lists etc scaring buyers off to any other brands. And certainly not ones a lot of people haven't heard of. My (very limited) experience with the brand has been nothing but positive. They'd need to do something pretty horrific with me for me to go buy elsewhere now. A few friends that have bought rolexes from the same shop as me (there is only one in the algarve) have all been happy with them too.
If you're not buying it with a potential sale in mind, with value no real concern, why do you mention value and residuals being of importance, even going so far as to discount other brands due to residuals? Doesn't make a lot of sense. I originally bought a GMT around 15 years ago - red and blue dial. It cost me £2,350. It was worth 2-3 times that when I gave it away to a family member. Maybe I should have kept it, the cheapest one on watch finder is 12k now
My own current GMT was a simple, enjoyable purchase. No messing about with waiting lists or anything else. I bought another Rolex for mrs last year too, I can't remember what that one was so I can't check how much that's worth now. But like mines there would be zero intention to sell it. Again no hassle to buy it.
I think price gains alone would entirely remove any interest I may have ever had in considering other brands for my next watch when I start getting paid again.
For casual buyers like me that have no interest in watches as a whole, I can't see Rolex waiting lists etc scaring buyers off to any other brands. And certainly not ones a lot of people haven't heard of. My (very limited) experience with the brand has been nothing but positive. They'd need to do something pretty horrific with me for me to go buy elsewhere now. A few friends that have bought rolexes from the same shop as me (there is only one in the algarve) have all been happy with them too.
whatleytom said:
If you're not buying it with a potential sale in mind, with value no real concern, why do you mention value and residuals being of importance, even going so far as to discount other brands due to residuals? Doesn't make a lot of sense.
I bought this one with no real interest in ever selling it, I never researched potential sale value before paying for it. Likewise the one for the mrs, I've zero idea if we've made or lost money on that one.After 8 months of no wages at all its made me reevaluate... ongoing I'd never pay £10k+ for a watch that was guaranteed to lose money. I'd buy another Rolex (which I'm happy wearing anyway) and have an ability to cash it in if required.
I'd rather have an Apple Watch or a Casio and an ISA than the Tudor.
Algarve, you should definitely start a thread called "I don't know much about watches but I'll tell you what I think of yours".
We could post pictures of stuff you've never heard of and you can respond with gold like "I'd rather have a Casio and an ISA than a Tudor".
You have a talent for amusing statements, and in the right place it would be great fun.
We could post pictures of stuff you've never heard of and you can respond with gold like "I'd rather have a Casio and an ISA than a Tudor".
You have a talent for amusing statements, and in the right place it would be great fun.
Its a thread entirely about prices. I don't need to know anything at all about the history of a watch to look a picture of it and say no thanks, that's not for me at that price.
Write it off as trolling if you want, but I've not went into the watch forum to look for Tudor threads to take the piss in have I? All these comments are a direct response to me saying I'd never heard of a Tudor, and being called a troll for saying that.
Write it off as trolling if you want, but I've not went into the watch forum to look for Tudor threads to take the piss in have I? All these comments are a direct response to me saying I'd never heard of a Tudor, and being called a troll for saying that.
Algarve said:
Its a thread entirely about prices. I don't need to know anything at all about the history of a watch to look a picture of it and say no thanks, that's not for me at that price.
Write it off as trolling if you want, but I've not went into the watch forum to look for Tudor threads to take the piss in have I? All these comments are a direct response to me saying I'd never heard of a Tudor, and being called a troll for saying that.
I was being serious - that comment genuinely made me laugh, and it would be a great thread to lighten things up.Write it off as trolling if you want, but I've not went into the watch forum to look for Tudor threads to take the piss in have I? All these comments are a direct response to me saying I'd never heard of a Tudor, and being called a troll for saying that.
Algarve said:
I bought mines to keep forever, value of it was never really a major concern at the time of purchase. But now going into month 8 of zero wages its certainly a massive plus point knowing its effectively turned into an enjoyable saving account that could be cashed in with minimal hassle if I wanted to / needed to.
I originally bought a GMT around 15 years ago - red and blue dial. It cost me £2,350. It was worth 2-3 times that when I gave it away to a family member. Maybe I should have kept it, the cheapest one on watch finder is 12k now
My own current GMT was a simple, enjoyable purchase. No messing about with waiting lists or anything else. I bought another Rolex for mrs last year too, I can't remember what that one was so I can't check how much that's worth now. But like mines there would be zero intention to sell it. Again no hassle to buy it.
I think price gains alone would entirely remove any interest I may have ever had in considering other brands for my next watch when I start getting paid again.
For casual buyers like me that have no interest in watches as a whole, I can't see Rolex waiting lists etc scaring buyers off to any other brands. And certainly not ones a lot of people haven't heard of. My (very limited) experience with the brand has been nothing but positive. They'd need to do something pretty horrific with me for me to go buy elsewhere now. A few friends that have bought rolexes from the same shop as me (there is only one in the algarve) have all been happy with them too.
All of that is great, but by the sounds of it, you haven't bought a stainless steel Rolex sports model for many years. Go and try to buy one now and see if your positive experience with Rolex still holds firm.I originally bought a GMT around 15 years ago - red and blue dial. It cost me £2,350. It was worth 2-3 times that when I gave it away to a family member. Maybe I should have kept it, the cheapest one on watch finder is 12k now
My own current GMT was a simple, enjoyable purchase. No messing about with waiting lists or anything else. I bought another Rolex for mrs last year too, I can't remember what that one was so I can't check how much that's worth now. But like mines there would be zero intention to sell it. Again no hassle to buy it.
I think price gains alone would entirely remove any interest I may have ever had in considering other brands for my next watch when I start getting paid again.
For casual buyers like me that have no interest in watches as a whole, I can't see Rolex waiting lists etc scaring buyers off to any other brands. And certainly not ones a lot of people haven't heard of. My (very limited) experience with the brand has been nothing but positive. They'd need to do something pretty horrific with me for me to go buy elsewhere now. A few friends that have bought rolexes from the same shop as me (there is only one in the algarve) have all been happy with them too.
Things have changed a lot in only around 5 years or so.
Here's what will happen:
You will walk in to a Rolex AD with your current GMT on your wrist, and your wife with her Rolex on her wrist, and you'll tell the salesmen you are a Rolex enthusiast and wish to buy a new GMT/Sub/Deepsea etc.
The salesmen will then look at you like you are bonkers. He will tell you there are none available, but ask you if perhaps you would like to buy a few other Rolex watches instead. They will be models of Rolex you don't want.
If he's honest with you, he will tell you that you need to buy Rolex watches reasonably regularly to be allowed to buy a stainless steel model. This would mean buying Datejusts and other crap you don't want.
If he's dishonest he will simply tell you that there is a waiting list and take your name and address, and promise to phone you when a GMT/Sub/Deepsea etc comes into stock. He will then wait until you are out of the shop and throw your details in the bin.
Riff Raff said:
Anything I buy with a strap, I take it off just after purchase and put on an aftermarket one.
If I ever sell I just put the OEM strap back on. No arse raping costs incurred.
Ok, great, I will often replace the OEM strap on a new watch too, but that’s missing the point. If I ever sell I just put the OEM strap back on. No arse raping costs incurred.
If you buy a tool watch for, say, €3200 on a leather strap, you expect that strap to be of decent quality, not fall apart in short order and cost €425 for an OEM replacement.
Like I mentioned, it’s just a minus point for that particular watch (which I really like BTW) in that particular configuration.
GCH said:
I think you might be borderline special needs if you think I'm boasting about wealth whilst posting about potentially having to sell my solitary expensive watch to fill the fridge Try reading before mashing the reply button, it helps.Lord Marylebone said:
All of that is great, but by the sounds of it, you haven't bought a stainless steel Rolex sports model for many years. Go and try to buy one now and see if your positive experience with Rolex still holds firm.
Things have changed a lot in only around 5 years or so.
Mines was bought summer 2016, mrs was September 2019.Things have changed a lot in only around 5 years or so.
I wouldn't expect to be able to walk into a Ferrari dealership and buy a La Ferrari at list price and instantly pocket a load of profit. Likewise I certainly wouldn't expect to be able to do the same at a watch shop either. I'd be completely fine with them politely telling me to f
k off if I tried it.Algarve said:
Mine was bought summer 2016, mrs was September 2019.
I wouldn't expect to be able to walk into a Ferrari dealership and buy a La Ferrari at list price and instantly pocket a load of profit. Likewise I certainly wouldn't expect to be able to do the same at a watch shop either. I'd be completely fine with them politely telling me to fk off if I tried it.
My GMT was bought in 2017, used, for £5400.I wouldn't expect to be able to walk into a Ferrari dealership and buy a La Ferrari at list price and instantly pocket a load of profit. Likewise I certainly wouldn't expect to be able to do the same at a watch shop either. I'd be completely fine with them politely telling me to f
k off if I tried it.Ladies Rolex don't count as they can be bought anytime, anywhere, for retail, or even a discount. There is relatively low demand for them.
I'm talking specifically about buying mens stainless steel Rolex watches, and in only 3 years, things have gone insane.
You have previously had good experiences buying mens stainless steel sports models, and hence you have only got good things to say about Rolex.
What I'm saying is, go and try to buy one now and you simply won't be able to. A Rolex AD will likely treat you like you are something they have stood in, and your only option will be a grey market retailer who will try to have your eyes out.
You will then think 'b
ks to Rolex' as many of us in this thread have done, and go and look at spending your money on other brands.Buying an ordinary mass produced stainless steel dive watch such as a Rolex GMT is not comparable to trying to buy a La Ferrari from a dealer. Rolex are a mass market manufacturer and they produce over 1 million watches per year. Some estimates say nearer 1.2 million watches.
But I'm not going to have anything negative to say about them because they won't sell me a watch for 8k that I could sell tomorrow for 14k+. I'd absolutely expect these things to go to their favoured customers. And/or people set up to offer some brown envelopes on the side. Next time I've got any money I might try that and see how it goes.
I don't see any difference in that and having to have bought half a dozen Ferraris you didn't want to get a La Ferrari.
I don't see any difference in that and having to have bought half a dozen Ferraris you didn't want to get a La Ferrari.
For the most part this is the case - but like Algarve says, you’d expect loyal customers who have built genuine spending history to be favoured for pieces that could be turned for 5K+ profit the next day. It seems the ship has sailed for this to be done organically now however. I don’t have to buy any less desirable watches from my AD to get professional pieces, but that is only because I started buying before things went so crazy.
Conversely I bought a Sub from a well known London AD this year, with no prior relationship, one week after popping in. So who knows
Conversely I bought a Sub from a well known London AD this year, with no prior relationship, one week after popping in. So who knows
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