Discussion
Flashman65 said:
So went into Goldsmiths at the weekend as I was contemplating changing my Rolex Deepsea Deep Blue.
I was looking at a part exchange deal. They offered me £7700. Hmmmmm I will leave it thank you
You'd be better off selling it on Chrono24, not sure the age/detail of you D blue, but it must be worth north of £12K all day long, and i suspect what they would retail it at, maybe more....good margins if they can get them!I was looking at a part exchange deal. They offered me £7700. Hmmmmm I will leave it thank you
Good job you walked away, Cant stand Goldsmiths awful customer service, I refuse to use them for anything.
Try Ian blowers?
https://www.blowers-jewellers.co.uk/
SULAND said:
FWIW said:
AJB88 said:
No different than a car dealer they will low ball you to make a profit.
Don't you think ~50% of retail is a pisstake?https://www.watchfinder.co.uk/Rolex/Deepsea/126660...
As with all large chain stores, no matter what they sell, but more relevant with shops that sell premium/desirable brands/products, they normally require a prime site on the high street, which doesn't come cheap. The mark up that Goldsmiths make on items is ridiculous and they will have an agreement with Rolex that they have to always hold a certain value of Rolex stock at any given time (could be in the region of £250,000). They have to cover all these costs, hence their part exchange figure will be lower than a one off/smaller outlet.
SULAND said:
How is £7700 50% of retail?? Since when is a Deep blue £15400??
I think it was meant to indicate current grey market Retail prices, as there is very little available stock of Deepsea DBlue found at AD's, which list price is currently £9700.£7700 is still an insult given the asking prices that most non AD's are asking!
I'd keep it.
I think in a normal market it would be a fair price, but of course because of the current supply issue and the grey market then the second hand prices are inflated.
The thing is are dealers actually allowed to participate in the pricing of these with the grey market in mind? I was under the impression Rolex are trying to snuff the grey market out and therefore allowing dealers to buy and sell at market values may or may not help with that.
The thing is are dealers actually allowed to participate in the pricing of these with the grey market in mind? I was under the impression Rolex are trying to snuff the grey market out and therefore allowing dealers to buy and sell at market values may or may not help with that.
TomScrut said:
I think in a normal market it would be a fair price, but of course because of the current supply issue and the grey market then the second hand prices are inflated.
The thing is are dealers actually allowed to participate in the pricing of these with the grey market in mind? I was under the impression Rolex are trying to snuff the grey market out and therefore allowing dealers to buy and sell at market values may or may not help with that.
NO. AD,s are not allowed to sell at over RRP. Thats why they have only offered £7700 as they will only be able to sell at below list price. The thing is are dealers actually allowed to participate in the pricing of these with the grey market in mind? I was under the impression Rolex are trying to snuff the grey market out and therefore allowing dealers to buy and sell at market values may or may not help with that.
FWIW said:
SULAND said:
FWIW said:
AJB88 said:
No different than a car dealer they will low ball you to make a profit.
Don't you think ~50% of retail is a pisstake?https://www.watchfinder.co.uk/Rolex/Deepsea/126660...
ked??Interesting reading. The cheapest I can find on the 2nd hand market is £12k. Mine was bought new in 2017 and has all the boxes/paperwork and even receipt of £9150 back then. I personally thought £7700 was very low considering the condition ( few light scratches easily polished out) and me having all the providence with the watch and with them saying they had at least 100 people waiting for one!
I think I will keep it as there isn’t really a watch I want to swap it for after trying a few different ones on at the dealers. They were very nice and professional by the way and said the buying power has now moved to head office and they don’t necessarily get the watch even if it came in.
I think I will keep it as there isn’t really a watch I want to swap it for after trying a few different ones on at the dealers. They were very nice and professional by the way and said the buying power has now moved to head office and they don’t necessarily get the watch even if it came in.
Flashman65 said:
Interesting reading. The cheapest I can find on the 2nd hand market is £12k. Mine was bought new in 2017 and has all the boxes/paperwork and even receipt of £9150 back then. I personally thought £7700 was very low considering the condition ( few light scratches easily polished out) and me having all the providence with the watch and with them saying they had at least 100 people waiting for one!
I think I will keep it as there isn’t really a watch I want to swap it for after trying a few different ones on at the dealers. They were very nice and professional by the way and said the buying power has now moved to head office and they don’t necessarily get the watch even if it came in.
Actually the cheapest 2017 in the uk,is £11095 and thats before you have a deal with them. Yes to be fair £7700 is a low bid,but as i said before,when people are trying to sell there watch they always seem to go by Watchfinder price!! IMHO you have to be a retard to buy from them,they are well over priced. I think I will keep it as there isn’t really a watch I want to swap it for after trying a few different ones on at the dealers. They were very nice and professional by the way and said the buying power has now moved to head office and they don’t necessarily get the watch even if it came in.
It is a watch that is £9700 retail now, a watch they buy new for around £5500 from Rolex.
£7700 for a Rolex dealer sounds about right.
Sell it for £11k and you are left with around £2700 profit after vat. So around 25% margin, which in retail is pretty low, but doable with high value goods like these.
Now, of course someone else like Hackett Watches may be able to get £12950 for it, and offer you what you paid for it back, but to be offered £1450 less than you paid for it in 2017 I reckon is pretty good from a shop like that.
£7700 for a Rolex dealer sounds about right.
Sell it for £11k and you are left with around £2700 profit after vat. So around 25% margin, which in retail is pretty low, but doable with high value goods like these.
Now, of course someone else like Hackett Watches may be able to get £12950 for it, and offer you what you paid for it back, but to be offered £1450 less than you paid for it in 2017 I reckon is pretty good from a shop like that.
SULAND said:
Why does everyone always go to watchfinder when they pricing a watch? They are well over priced. The only way to get a more real world price is to go on Chrono24 and find the watch with the same year same ref number and in the UK. Also do we know what condition the OP watch is in? It maybe have no box or cert card and fked??
11k is cheapest on C24. So 7.7 is still a piss take, although as said above not surprising for an AD.ked??Hackett is a good shout.
I suppose we need to know what an AD buys them in for, and what their overheads are. Then, there’s the ‘risk’ associated with buying a used watch.
‘If’ they can buy the watch new for, say, £8k, why on earth would they pay more for a used, as they’re not allowed to sell it for more than list?
It’s not too different to selling a car privately or to a main dealer. At least there’s a choice, and now you have a base price to work up from.
‘If’ they can buy the watch new for, say, £8k, why on earth would they pay more for a used, as they’re not allowed to sell it for more than list?
It’s not too different to selling a car privately or to a main dealer. At least there’s a choice, and now you have a base price to work up from.
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