Has the Rolex bubble finally burst? Perhaps it has

Has the Rolex bubble finally burst? Perhaps it has

Author
Discussion

OFORBES

533 posts

100 months

Tuesday 24th March 2020
quotequote all
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?
I've been really surprised to see my small collection has increased in value by about £6k in the last month or so. Ho long will the prices continue to rise is another question all together....

anonymous-user

54 months

Tuesday 24th March 2020
quotequote all
OFORBES said:
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?
I've been really surprised to see my small collection has increased in value by about £6k in the last month or so. Ho long will the prices continue to rise is another question all together....
I’m not sure the chrono tracker is that accurate at the moment due to exchange rates. All my watches (non Rolex also) have gone up in value and some of them definitely haven’t.

Tony1963

4,775 posts

162 months

Tuesday 24th March 2020
quotequote all
El stovey said:
All my watches (non Rolex also) have gone up in value and some of them definitely haven’t.
What?

anonymous-user

54 months

Tuesday 24th March 2020
quotequote all
Tony1963 said:
El stovey said:
All my watches (non Rolex also) have gone up in value and some of them definitely haven’t.
What?
On the chrono24 valuation function, it’s not accurate.

LaurasOtherHalf

21,429 posts

196 months

Tuesday 24th March 2020
quotequote all
Quite how anyone expects to sell in the current situation I don’t know?

anonymous-user

54 months

Tuesday 24th March 2020
quotequote all
LaurasOtherHalf said:
Quite how anyone expects to sell in the current situation I don’t know?
That’s the problem when viewing your watch as an investment, when you need to sell, the chances are that lots of others do to.

anonymous-user

54 months

Tuesday 24th March 2020
quotequote all
Gmt 2s starting to drop now on Chrono24,
seeing a few 116710LNs for mid 7k now when before there was very few even in the 8k range.

Watchfinder still asking £9,700 for their cheapest ones hehe

LaurasOtherHalf

21,429 posts

196 months

Tuesday 24th March 2020
quotequote all
El stovey said:
LaurasOtherHalf said:
Quite how anyone expects to sell in the current situation I don’t know?
That’s the problem when viewing your watch as an investment, when you need to sell, the chances are that lots of others do to.
No I meant physically able to sell-we're in lock down!

anonymous-user

54 months

Tuesday 24th March 2020
quotequote all
LaurasOtherHalf said:
No I meant physically able to sell-we're in lock down!
You can still list it online on chrono24 and the post office is still open etc.

Loads of online businesses are still operating and using the post or different courier services.

princeperch

7,929 posts

247 months

Wednesday 1st April 2020
quotequote all
Rolex explorer ii are now sub 5k on watch master. When you consider it's probably had a 3-500 service before sale and comes with a 2 year warranty, that's starting to look tempting to me.

But I think I'll wait a while longer.

LaurasOtherHalf

21,429 posts

196 months

Wednesday 1st April 2020
quotequote all
princeperch said:
Rolex explorer ii are now sub 5k on watch master. When you consider it's probably had a 3-500 service before sale and comes with a 2 year warranty, that's starting to look tempting to me.

But I think I'll wait a while longer.
About 18 months/2 years ago I pointed my mate in the direction of a mint 2004 polar example for £3250

QE and low £ means prices won’t crash just yet.

Try buying a brand new one from an authorised dealership tomorrow.

Wills2

22,839 posts

175 months

Wednesday 1st April 2020
quotequote all
El stovey said:
Gmt 2s starting to drop now on Chrono24,
seeing a few 116710LNs for mid 7k now when before there was very few even in the 8k range.

Watchfinder still asking £9,700 for their cheapest ones hehe
Richemont don't need to have a fire sale, WF inventory isn't material to their P&L, although having said that, give it a few weeks...


(It'll probably be cheaper to furlough the staff and sit on the stock than sell it cheaply to get sales.)









Saweep

6,599 posts

186 months

Thursday 2nd April 2020
quotequote all
I don't see how the price of most of these models cannot go down.

I'd expect all luxury, discretionary purchases market to soften.

Don't know how it can't really.

I always regret not filling my cupboards with gold day dates in 08...I mean, I was 26 and didn't have the money...but still biggrin

RDMcG

19,162 posts

207 months

Thursday 2nd April 2020
quotequote all
We have a global recession coming. I have no idea why goods like exotic cars or expensive watches have anywhere else but straight down apart from the rarest.

bazza.

698 posts

92 months

Thursday 2nd April 2020
quotequote all
Until you can buy there sports models them for less RRP the bubble still stands ,may less of a bubble but a bubble nonetheless

crispyshark

1,262 posts

145 months

Thursday 2nd April 2020
quotequote all
Having been told for months by multiple AD's that i could only be on a waiting list for a Daytona, by some miracle over the last few days i have been contacted and i am now on the list for any kind of Submariner too.....let's see what comes of it....

JEA1K

2,504 posts

223 months

Thursday 2nd April 2020
quotequote all
RDMcG said:
We have a global recession coming. I have no idea why goods like exotic cars or expensive watches have anywhere else but straight down apart from the rarest.
Exactly. Assets will be dumped which will reflect in sales values compared to pre COVID prices. I can only see resold watches now heading towards retail prices ... once they've done this, who would buyers then choose to buy from ... a private sale or retailer when prices are at parity? They will of course choose the retailer, forcing down private sales below retail which will slow up the sale of watches from the retailers.

Those who are highly leveraged will only hold on for so long before their fire sales start. I expect all those things that are easy to shift first such as jewelry and cars before we get to the property market ...

rosetank

634 posts

50 months

Thursday 2nd April 2020
quotequote all
Wait a while more, these greedy outlets will really start to suffer and the market will adjust. I have little sympathy to be honest as they've artificially set the prices high for years. It'll now be a buyers market. so sod them tbh.

andy97

4,703 posts

222 months

Friday 3rd April 2020
quotequote all
JEA1K said:
Those who are highly leveraged will only hold on for so long before their fire sales start. I expect all those things that are easy to shift first such as jewelry and cars before we get to the property market ...
Assuming there are actually buyers.

anonymous-user

54 months

Friday 3rd April 2020
quotequote all
El stovey last week said:
Gmt 2s starting to drop now on Chrono24,
seeing a few 116710LNs for mid 7k now when before there was very few even in the 8k range.

Watchfinder still asking £9,700 for their cheapest ones hehe
A few even in the £6,000-7,000 bracket which I’ve never seen before and loads in the £7,000 range on chrono24 and pages and pages of 116710s for sale.

Watchfinder still asking £9700 for the same watch above,