OT - Rolex watch market

[denapista]

Originally Posted by adub

Interest rates are rising, the economy is slowing. I'd think over the next 6-18 months there will be a lot of softening in many of the overbought high end markets. Nice watch.

Just enough for a 991.1 GT3 to land in my garage... The Porsche market is all over the place. Standard variants are the same price as the GT models on the used market. Want a 4S, same price as a GT3.

[JedB]

Originally Posted by oldpotatoe

lovin' mine..it's been 'appraised' at about $9k altho I think it's worth more but so what...going to one of my sons when I go to the other side.

Probably more like $15K, depending on year, and if you have box/papers.

[dale1948]

Nice genuine Rolex! Congrats. But on the dismal side, the fake Rolex business is changing drastically today. I know a wealthy jewelry shop owner in Germany who is able to purchase near perfect Rolex knockoffs for $150. He said even his friends purchase them. He owns a cheap platinum Rolex (ca. $100,000+).

But I was shocked to hear him say the new fakes are "very good watches." Scary!

[oldpotatoe]

Originally Posted by dale1948

Nice genuine Rolex! Congrats. But on the dismal side, the fake Rolex business is changing drastically today. I know a wealthy jewelry shop owner in Germany who is able to purchase near perfect Rolex knockoffs for $150. He said even his friends purchase them. He owns a cheap platinum Rolex (ca. $100,000+).

But I was shocked to hear him say the new fakes are "very good watches." Scary!

When I was in Hong Kong in 80s, 3 squadron mates all went to a Rolex store recommended by Rolex HK and bought gold and stainless GMT Masters..BUT, walk around HK and easy to find a 'Bolex' for couple of hundred..

[IJWS]

I'll do two anecdotes:

1. when I was interning in Shanghai I noticed that one of the senior designers was wearing a Patek Philippe Calatrava. I complimented him on it and got a blank stare. "your watch" I said. He smiled and said "it's pretty--I'll show you where to get one". Needless to say he didn't take me to a Patek AD

2. For my best friend's 40th birthday (and during the first few months of the pandemic) I found an Air King from 1996 for him. When it was delivered I was enamored. The watch wound so smoothly and sparkled in the light. I had never understood the allure of a Rolex until interacting with that watch. I'm still a fan and would love the chance to pick one up at MSRP. I think Rolex wins if they have people champing at the bit to pay full-pop!

Congrats to the OP. Hopefully your new hobby won't pull you too far away from the fold (cycling!)

[tomato coupe]

Originally Posted by denapista

Just enough for a 991.1 GT3 to land in my garage... The Porsche market is all over the place. Standard variants are the same price as the GT models on the used market. Want a 4S, same price as a GT3.

Not too surprising, since a 4S is a better daily driver, and most people want a daily driver instead of a track car.

[R3awak3n]

Originally Posted by tomato coupe

Not too surprising, since a 4S is a better daily driver, and most people want a daily driver instead of a track car.

agreed

[SPOKE]

No offense taken my friend….

Originally Posted by RFC

I understand. I was just being stupid.

[Birch]

I got my call on this exact same watch two years ago and it is my favorite by a long shot.

Perfect size for my overgrown ape arms/wrists.

Congrats!!

[Mikej]

Great watches! Curious, on the resale, for anybody that has actually sold a Rolex lately, how does “appraised at” work out for a seller? 50%?

[earlfoss]

Just for giggles I got an offer from Watchfinder that was way better than anticipated for my GMT. Enough so that it made me wonder. I don't think their margin is very good on Rolex.

[GonaSovereign]

Originally Posted by tomato coupe

Not too surprising, since a 4S is a better daily driver, and most people want a daily driver instead of a track car.

Exactly this.

[Kingfisher]

Originally Posted by Mikej

Great watches! Curious, on the resale, for anybody that has actually sold a Rolex lately, how does “appraised at” work out for a seller? 50%?

Yep, just sold my no date 2018 submariner for $11k to a jeweler/Rolex dealer near Philadelphia. I paid retail in 2018 from a dealer in state college pa, $7300.

[irideti]

I live in LA, the capital of smash-and-grab and luxury watch robbery in the US. I stopped wearing my nice Swiss watches since I don't want get robbed or even get hurt. It is very sad since I love watches and used to wear them everywhere. I recently visited a local Seiko/Citizen/Casio retailer for an alarm clock. The owner told me she is selling a lot Seiko and Citizen these days. Many of the customers told her that they are leaving their Rolex in the safe for personal safety.

[jkbrwn]

Originally Posted by irideti

I live in LA, the capital of smash-and-grab and luxury watch robbery in the US. I stopped wearing my nice Swiss watches since I don't want get robbed or even get hurt. It is very sad since I love watches and used to wear them everywhere. I recently visited a local Seiko/Citizen/Casio retailer for an alarm clock. The owner told me she is selling a lot Seiko and Citizen these days. Many of the customers told her that they are leaving their Rolex in the safe for personal safety.

I was with a friend in London a couple of days ago who is lucky enough to have traded up a few times from a no date Sub to a yellow gold 1675 with no outlay. Its a beautiful, beatiful watch - as far as tool watches go anyway. We witnessed someone's backpack get stolen (which we helped stop) outside of a pub. He swiftly put his watch in his pocket out of site. It's a real shame that these watches that were once tools have now become so highly valued and sought after that they can't be worn outside safely.