Has the Rolex bubble finally burst? Perhaps it has

[GilletteFan]

IMO, prices were driven by scarcity and sellers (owners) needing more reach to get buyers willing to pay their asking prices. Platforms/ middle-men emerged to address the reach part and to drive the scarcity narrative home. As sellers still wanted top dollar for their items (i.e. no less than what they paid for them), the middle-men margin (~20%) was whacked on top. And while they did that, throw in payment and other handling/ risk fees.

The fastest way to restore soundness in the market is to remove the middle-men by not purchasing from them.

[Soleith]

Big Stevie said:

I'm generally not a fan of blue faced watches, and not with gold, but then I am on a list for a blue faced Deepsea so what do I know.

Edited by Big Stevie on Thursday 9th March 14:17

Lovely watch, still enjoy mine which is now a generation old (126660 D Blue). Values on these never went nuts but it's actually my fav rolex and prefer it to the 2 daytonas I got rid of close to the peak.

[Big Stevie]

Soleith said:

Lovely watch, still enjoy mine which is now a generation old (126660 D Blue). Values on these never went nuts but it's actually my fav rolex and prefer it to the 2 daytonas I got rid of close to the peak.

They are lovely, I think the retail is £12k and they were/are selling on the grey for £14k - £15k. Considering the yearly price rises imposed by Rolex when on a 5 yr waiting list, then paying £2k over retail and getting it immediately isn't too bad. I'm happy to wait though and pick one up brand new from an AD, it's the only watch I want but I'm in no rush.

[Pflanzgarten]

I kind of regret swapping my 126660 for something else, I do intend to get another.

I must admit I’ve got in touch with the dealer who got it and said if it ever gets part exchanged back in I’ll take it back.

[Harry Flashman]

don logan said:

SpeckledJim said:

don logan said:

ettore said:

don logan said:

SpeckledJim said:

But desperately useful for those times you want to look like a three-episode baddie from Howard's Way.

Three-episode baddie!!!!!!! :-) :-) :-)

This could become quite the look though. Perhaps in an overwoke world, a bit of eighties badass dash is what we need. Would go wonderfully well with an mint XJS cabby or a 328 GTS (cough).

I feel a badassbacklash brewing!

I might go with a 928 or an M635!

A 560SEC with Koenig body kit was arranged, but it was stolen by a bent security guard at Pebble Mill, so he had to make do with an Astra GTE from Hertz.

I think Harry’s dirty gold watch thread needs a resurrection!

Koenig / Pebble Mill……… :-) :-)

It does!

And I have this little fella getting ready for summer, which would suit a sleazy gold Rolex perfectly.

[Regbuser]

Harry Flashman said:

It does!

And I have this little fella getting ready for summer, which would suit a sleazy gold Rolex perfectly.

Are you sure you didn't have a bit part in 'the gold' Hazza..?!

[Jamescrs]

Harry Flashman said:

It does!

And I have this little fella getting ready for summer, which would suit a sleazy gold Rolex perfectly.

Off topic slightly but I love the Merc yoy have there in the driveway, quality motor

[Gary Woodland]

Seems I have chosen the absolute worst time to sell my Hulk lol. Bugger.

[BigBen]

Pflanzgarten said:

I kind of regret swapping my 126660 for something else, I do intend to get another.

I must admit I’ve got in touch with the dealer who got it and said if it ever gets part exchanged back in I’ll take it back.

I have been patiently waiting 2 weeks for mine (well about 12 days). Why hasn't the phone rang yet!

[don logan]

Harry Flashman said:

don logan said:

SpeckledJim said:

don logan said:

ettore said:

don logan said:

SpeckledJim said:

But desperately useful for those times you want to look like a three-episode baddie from Howard's Way.

Three-episode baddie!!!!!!! :-) :-) :-)

This could become quite the look though. Perhaps in an overwoke world, a bit of eighties badass dash is what we need. Would go wonderfully well with an mint XJS cabby or a 328 GTS (cough).

I feel a badassbacklash brewing!

I might go with a 928 or an M635!

A 560SEC with Koenig body kit was arranged, but it was stolen by a bent security guard at Pebble Mill, so he had to make do with an Astra GTE from Hertz.

I think Harry’s dirty gold watch thread needs a resurrection!

Koenig / Pebble Mill……… :-) :-)

It does!

And I have this little fella getting ready for summer, which would suit a sleazy gold Rolex perfectly.

That car says Lake Lugano to me!

Having taken the scenic route from Munich to Monaco

Edited by don logan on Friday 10th March 17:03

[Pflanzgarten]

https://www.watchcollecting.com/for-sale/2023-role...

Batman sold for over £14k today-the market still has its heat-that’ll be over £15k for the buyer and a good return for the seller.

Seriously tempted to list mine after that.

[gregs656]

Interesting that the majority of the Batmans sold this year have been 2023 purchases.

I hadn’t looked for a while but generally prices still seem to be falling across most brands and models.

Edited by gregs656 on Friday 10th March 19:12

[okgo]

gregs656 said:

Interesting that the majority of the Batmans sold this year have been 2023 purchases.

I hadn’t looked for a while but generally prices still seem to be falling across most brands and models.

Edited by gregs656 on Friday 10th March 19:12

Easy to get hold of now I expect. You have to be a total mug to pay £15k in this market for that.

[Cupid-stunt]

Flying machine said:

I'm wanting to buy an F P Journe chronometre souverain.

The £100 shipping cost isn't really going to make much difference on one of them...

[gregs656]

981SPYGANG said:

On the basis that Flippers prevent/delay genuine owners getting their dream watch should they be considered as anything other than Pond Life?

Don't hate the player hate the game is where I set on all of this type of stuff now.

It's a shame that so many products and enthusiast spaces are full of bot farms and resellers gouging people, but companies could take steps to manage that. I thought MBNF did a good job of that last year for example.

[anonymous-user]

Just been skiing, and couldn’t help but notice that the beautiful Alpine ‘chalet style’ building right in the middle of Courchevel 1850 is now a sizable Rolex AD. It was always the tourist information centre since it was built.

A local was telling me that everyone is pretty annoyed that the mayor allowed Rolex to flash their cash and get him to push the beloved tourist centre into a pokey unit inside the Croisette, but apparently times are hard following covid, even if you are a resort that is overrun with the wealthy.

Rolex apparently paid €1.25m to acquire the lease, and are paying €200k per annum for the rent. It seems a heck of a lot, especially when the ski season only lasts about 5 months per year, but when the surrounding shops are Fendi, Gucci, Louis Vuitton, Moncler, etc, clearly they felt they needed a big presence.

I laughed when I saw it and then mentioned to my Dad and my wife that we should go in and try to buy something, which confused them greatly as they are naturally completely unfamiliar with the concept of walking into a shop and not being allowed to buy something,

I explained briefly, could sense they didn’t believe me, so we walked in, we’re greeted by a salesmen, and I asked if I would be able to purchase a gents watch for myself. Gave a little spiel about being on holiday, had my 40th birthday recently and wanted to treat myself.

‘I’m sorry Sir, we do not have any watches available for you to purchase’

I feigned surprise, thanked the salesmen for his time, and we all walked out.

My Dad and wife are still confused about it!

[bordseye]

Its the business model isnt it? People are much keener in getting something that is difficult to get than something easy to get. Morgan sold lots of obsolete design cars on that basis for a long time.

Question is - will Rolex have the sense to keep supply at 95% of demand when demand falls in the recession? If not then demand will fall even further and so will the halo on the brand.

If anybody can buy, then lots of current buyers wont

[Wheelspinning]

Lord Marylebone said:

Just been skiing, and couldn’t help but notice that the beautiful Alpine ‘chalet style’ building right in the middle of Courchevel 1850 is now a sizable Rolex AD. It was always the tourist information centre since it was built.

A local was telling me that everyone is pretty annoyed that the mayor allowed Rolex to flash their cash and get him to push the beloved tourist centre into a pokey unit inside the Croisette, but apparently times are hard following covid, even if you are a resort that is overrun with the wealthy.

Rolex apparently paid €1.25m to acquire the lease, and are paying €200k per annum for the rent. It seems a heck of a lot, especially when the ski season only lasts about 5 months per year, but when the surrounding shops are Fendi, Gucci, Louis Vuitton, Moncler, etc, clearly they felt they needed a big presence.

I laughed when I saw it and then mentioned to my Dad and my wife that we should go in and try to buy something, which confused them greatly as they are naturally completely unfamiliar with the concept of walking into a shop and not being allowed to buy something,

I explained briefly, could sense they didn’t believe me, so we walked in, we’re greeted by a salesmen, and I asked if I would be able to purchase a gents watch for myself. Gave a little spiel about being on holiday, had my 40th birthday recently and wanted to treat myself.

‘I’m sorry Sir, we do not have any watches available for you to purchase’

I feigned surprise, thanked the salesmen for his time, and we all walked out.

My Dad and wife are still confused about it!

I see that new AD as basically a tiny part of the Rolex advertising budget.

I'm not entirely sure Rolex would want to get back to when you could walk in and buy a watch on the day.

The sheer fact you can't just makes them more desirable IMO.

It makes the time when you get a call to say the watch you requested is in a great day.

[MrJuice]

Lord Marylebone said:

Just been skiing, and couldn’t help but notice that the beautiful Alpine ‘chalet style’ building right in the middle of Courchevel 1850 is now a sizable Rolex AD. It was always the tourist information centre since it was built.

A local was telling me that everyone is pretty annoyed that the mayor allowed Rolex to flash their cash and get him to push the beloved tourist centre into a pokey unit inside the Croisette, but apparently times are hard following covid, even if you are a resort that is overrun with the wealthy.

Rolex apparently paid €1.25m to acquire the lease, and are paying €200k per annum for the rent. It seems a heck of a lot, especially when the ski season only lasts about 5 months per year, but when the surrounding shops are Fendi, Gucci, Louis Vuitton, Moncler, etc, clearly they felt they needed a big presence.

I laughed when I saw it and then mentioned to my Dad and my wife that we should go in and try to buy something, which confused them greatly as they are naturally completely unfamiliar with the concept of walking into a shop and not being allowed to buy something,

I explained briefly, could sense they didn’t believe me, so we walked in, we’re greeted by a salesmen, and I asked if I would be able to purchase a gents watch for myself. Gave a little spiel about being on holiday, had my 40th birthday recently and wanted to treat myself.

‘I’m sorry Sir, we do not have any watches available for you to purchase’

I feigned surprise, thanked the salesmen for his time, and we all walked out.

My Dad and wife are still confused about it!

Do Rolex own the shop? Or some other retailer?

I guess Rolex would have known the retailer's intention cos who would be brave enough to take on a lease without knowing for sure that they'd have a Rolex agency for their new shop.

Seems like pretty good value targeted advertising and if they didn't take on the shop, some other luxury brand almost certainly would have in their place

[Big Stevie]

MrJuice said:

Do Rolex own the shop? Or some other retailer?

My research many years ago lead me to a shop in Geneva that is claimed to be the only shop that Rolex own. I flew there to buy my Explorer 2 and when I asked the lady who served me, she carefully looked around, looked back at me, smiled and gave a slight nod of her head. I'd read about the shop in a newspaper online article but have not been able to find that article since. I did post about it on the Rolex forum, and amongst all the doubt from some members, a couple did their own research and confirmed it was true.

Now I shall never know 100%, as its impossible to find out for sure, apparently Rolex don't or wouldn't want people knowing incase they flood there instead of their AD's. But it's a nice story nether the less.