Has the Rolex bubble finally burst? Perhaps it has
Discussion
Wilmslowboy said:
Rolex watches are a little bit of an international currency.
Therefore the drop in the value of the pound made UK Rolexs just a little bit cheaper to international buyers, thus supporting values.
As I posted on (I think) the previous page, my mate is a grey dealer and the plummeting pound means his international selling side has sky rocketed. He would take all the Sports models he can.Therefore the drop in the value of the pound made UK Rolexs just a little bit cheaper to international buyers, thus supporting values.
Gitwhoismiserable said:
Just got a brand new submariner at retail, It will always be worth more I’m not worried all this trouble will pass
Right but the people selling theirs are the ones being made redundant or seeing massive drops in their financial situations. It’s not about whether the virus goes in a few months or not it’s about people needing to free up cash right now.
Gitwhoismiserable said:
El stovey said:
Right but the people selling theirs are the ones being made redundant or seeing massive drops in their financial situations.
It’s not about whether the virus goes in a few months or not it’s about people needing to free up cash right now.
What’s new It’s not about whether the virus goes in a few months or not it’s about people needing to free up cash right now.
LaurasOtherHalf said:
For sale section on TZ-UK is overflowing with Rolex sports models at the moment, no Daytonas at list of course or Hulks going cheap but there is a lot on the market compared to the previous six months
Wait a month or so and then prices will start dropping. Supply is already increasing and demand will drop like a stone.The last 3 recessions - Swiss watches including Rolex plummeted like a stone, this time it will be no different. It might actually be worse as so many models are trading for well over list whilst in 2007 only the Daytona did.Coupled with the fact, values of Rolex sports have gone through the roof from 3-4K in 2007/8 to some models trading for double list prices at 15k( for a GMT), the drop could be sharper.
50% of Watches of Switzerland sales are Rolex watches. Their share price has halved in the past month from 400p to 200p.
Swatch group shares (Omega,Longines,Tissot) has fallen 40% and Richemont (Cartier,IWC,JLC) share price 40% too
Edited by jonny70 on Sunday 22 March 20:10
Edited by jonny70 on Sunday 22 March 21:16
LaurasOtherHalf said:
For sale section on TZ-UK is overflowing with Rolex sports models at the moment, no Daytonas at list of course or Hulks going cheap but there is a lot on the market compared to the previous six months
Just had a look myself ... It’s just Rolex after Rolex after Rolex! There were 7 Rolex for sale threads in a row, let alone all the others! 
Gitwhoismiserable said:
El stovey said:
The larger amount of people suddenly needing to free up some cash?
Check with your local pawn broker this has been going on since Jesus was a boy, panic over Ikemi said:
LaurasOtherHalf said:
For sale section on TZ-UK is overflowing with Rolex sports models at the moment, no Daytonas at list of course or Hulks going cheap but there is a lot on the market compared to the previous six months
Just had a look myself ... It’s just Rolex after Rolex after Rolex! There were 7 Rolex for sale threads in a row, let alone all the others! Nobody is going to buy a watch at the moment at current prices and it is the same in the car market. Unless someone is prepared to sell at 50% of the price a month ago you are going to keep your cash in your pocket and wait for the market to come to you. In 3 months time you will be able to make a more rational assesment of where prices are going but as a buyer it is too early at the moment to take any risk.
C4ME said:
Nobody is going to buy a watch at the moment at current prices and it is the same in the car market. Unless someone is prepared to sell at 50% of the price a month ago you are going to keep your cash in your pocket and wait for the market to come to you. In 3 months time you will be able to make a more rational assesment of where prices are going but as a buyer it is too early at the moment to take any risk.
Interestingly, the tracker provided by Chrono24 suggests otherwise.I wonder if the price rises they’re displaying are as a result of folk moving in to that sort of item rather than some other assets that are now struggling?
C4ME said:
Nobody is going to buy a watch at the moment at current prices and it is the same in the car market. Unless someone is prepared to sell at 50% of the price a month ago you are going to keep your cash in your pocket and wait for the market to come to you. In 3 months time you will be able to make a more rational assesment of where prices are going but as a buyer it is too early at the moment to take any risk.
Sold a Seiko at profit today. Ok, not a Rolex, but I was as surprised as anyone when it went. rog007 said:
Interestingly, the tracker provided by Chrono24 suggests otherwise.
I wonder if the price rises they’re displaying are as a result of folk moving in to that sort of item rather than some other assets that are now struggling?
The GBP has fallen a lot in the past 2 weeks against the Dollar,Swiss Franc and the the Euro, that’s why the chrono24 tracker is showing increases in value (it’s in relative terms to what they cost in other countries)I wonder if the price rises they’re displaying are as a result of folk moving in to that sort of item rather than some other assets that are now struggling?
Luxury goods will get hit hard by the Coronavirus/recession, posted on the previous page about watch manufacture share prices being down 40% and the biggest U.K. official retailer of Rolex watches share price halving in the past month (that’s before they announced stores would close)
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