Has the Rolex bubble finally burst? Perhaps it has
Discussion
Got an email today from watch finder with details of their referrals scheme. The long and short is you can basically get £150 discount now on most watches.
That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
princeperch said:
Got an email today from watch finder with details of their referrals scheme. The long and short is you can basically get £150 discount now on most watches.
That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
They’re not obviously dropping their prices yet though, at least on the Rolex watches I’ve looked at. Maybe other brands or models are dropping? I’ve only really looked at gmt2s That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
princeperch said:
Got an email today from watch finder with details of their referrals scheme. The long and short is you can basically get £150 discount now on most watches.
That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
There average mark up is more likely to be 1.5-2k on a sports Rolex.That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
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.
^^^^^^^^^^^^^^^This.
/thread.
Economics 101.
Half the world economy is shut down, the other half is running for the hills. Cash is king.
Demand for non essential luxuries is done for at least 12 months, and slow to recover after that. (even if the virus subsides)
As per the property market death and divorce create sellers, and down goes price,
princeperch said:
Got an email today from watch finder with details of their referrals scheme. The long and short is you can basically get £150 discount now on most watches.
That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
That's intresting im in the market for a North Flag for work That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
princeperch said:
Got an email today from watch finder with details of their referrals scheme. The long and short is you can basically get £150 discount now on most watches.
That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
I've always had a bigger discount than that on all the watches I've bought from them, I've sold them 5-6 watches as well but always on a firm sale basis never on SOR, not sure what you mean by halving commission, they operate a margin cost up model not an SOR commission model. That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
As an example a watch listed at £3000 will have been bought for around £1500-1750, knocking £150 off doesn't halve anything, maybe they do commission sales on the rare and silly expensive stuff that they don't like the look of but they won't be doing that for £300....
El stovey said:
epom said:
Just to clarify so, is it correct to say it has burst ? 
Not in my view. But there’s a lot of indicators that it’s about to for certain models. Lots more than normal for sale at lower prices but not selling etc.Anyone who bought a ND Ceramic Sub (as my mate did about 8 weeks ago) at £7.5k is going to lose. I'll probably see a good few grand wiped off my collection but after the previous 3 years I'll still be up around £20k. My collection at present;
Datejust 36mm
Still worth more than what we paid in 1997 but probably not by that much now, Won't ever sell anyway
Sea Dweller 43mm Anniversary
Probably drop to below list price at best, perhaps £1500 under list. Won't ever sell anyway
Submariner LV mk3 Anniversary
Probably drop to £7-8k? Won't ever sell anyway
Exploer II Polar 40th Anniversary
Again, probably down to £1500 under list although I've kept it unworn with stickers etc. This was purely bought to flip when it's discontinued next year so a gamble that more than likely won't pay off.
So in real terms I've probably lost £3-4k at worst if my predictions are correct.
There is an alternative however, as long as we don't get rampant inflation (which we might) I think we'll see zero % borrowing for a good while yet to prop up the economy. If the £ stays as low as it has, all the above watches will be ridiculously cheaper for overseas buyers to get over here.
I've repeated it a few times, my mate who owns a grey dealership was selling every sports watch he could get to overseas on C24 right up to the lockdown. As I understand it, he is still dealing from home and doing a roaring trade selling watches to outside the UK.
I expect the greys to be offering under list money for watches they are still selling to over list overseas buyers for a good while yet.
My other guess, the sports model waiting list game will still continue to prop up the aspirational image, it's just an even higher proportion than before will be heading out the back door to greys selling to overseas.
I've read a threw threads about this especially on the Rolexforums....
Anyone who bought a current release model (not vintage) from a grey in the past 36months is going to lose money if they decide to sell, PERIOD.
Anyone who bought a hot model at Retail price will not loose much, worst case 10% but majority will still be up. Some like a SS Daytona will always be up, maybe not at the craziness before Covid19 but up none the less.
BUT.... If someone bought a watch within their means and has no intention of selling it, then what it is worth at purchase or in the future, really has nothing to do with it.
People used to buy watches because they liked it and could afford it. With the advent of social media platforms and 'showing off', many buyers have over stretched themselves financially to buy a Rolex, albeit with the false sense of security of the value on Chrono24/Watchfinder.
Those who are able to afford a Rolex within their means are not going to be losing any sleep over their Rolex.
The world will not be the same after this Pandemic, whether socially or financially. It's the Earth hitting 'clean junk and hidden files' button. Priorities will change, finances will change. Many people will be in financial hardship during and after Covid19... This is at all levels, Poor, Working class or the Rich.
Overall, you can't buy good health, wish you all to stay safe.
Anyone who bought a current release model (not vintage) from a grey in the past 36months is going to lose money if they decide to sell, PERIOD.
Anyone who bought a hot model at Retail price will not loose much, worst case 10% but majority will still be up. Some like a SS Daytona will always be up, maybe not at the craziness before Covid19 but up none the less.
BUT.... If someone bought a watch within their means and has no intention of selling it, then what it is worth at purchase or in the future, really has nothing to do with it.
People used to buy watches because they liked it and could afford it. With the advent of social media platforms and 'showing off', many buyers have over stretched themselves financially to buy a Rolex, albeit with the false sense of security of the value on Chrono24/Watchfinder.
Those who are able to afford a Rolex within their means are not going to be losing any sleep over their Rolex.
The world will not be the same after this Pandemic, whether socially or financially. It's the Earth hitting 'clean junk and hidden files' button. Priorities will change, finances will change. Many people will be in financial hardship during and after Covid19... This is at all levels, Poor, Working class or the Rich.
Overall, you can't buy good health, wish you all to stay safe.
Brads67 said:
Laings has discount on every used Rolex on their site.
Rushes to the website...GMT 116710BLNR "reduced" to £12,350 from £12,500. SD1665: £23,000 to £20,930...
Five ladies watches, a 36mm men's Datejust which no one on Pistonheads can wear as we're all built like the Rock obviously
I can't see much there really
princeperch said:
Got an email today from watch finder with details of their referrals scheme. The long and short is you can basically get £150 discount now on most watches.
That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
Watchfinder haven’t sold watches on commission for at least 5 years - they own all their stock.That would I imagine, essentially halve the amount of commission they make on their average sale. So they must be a bit worried about the shape of things to come.
You have always been able to negotiate with watchfinder, One could always get a discount obviously a lot more on the less popular watches and zero on Rolex sports until recently. I’m sure given the current environment they will now entertain steeper discounts and offers on Rolex sports.
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