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“Private Watch Sales” recent trends and observations

kov
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Jorisvp Jorisvp
Well, I am curious. Could you explain why it deviates so much from the Speedmaster 101 price chart?

That dial is very special, it has nothing to compare with regular production dials hence the sp101 table is totally irrelevant to value such a watch. There are certainly less than 20 grey dial speedmasters known worldwide in a condition comparable to this one or better, let alone on a 105.012-63.

IMO they are fully entitled to test the water with their asking, at least worth a try - these watches only appear in auctions and usually score high, unless their condition isn't good enough to attract the big boys.

This is the kind of Speedmaster specialty that will sell for as much as an informed collector, looking exactly for this, will be ready to pay. And any well informed collector will know that if he can't afford this one at that price, he'll have to be (very) patient till another one eventually comes up for sale.

Finally, an informed collector looking for exactly this, will certainly have other interesting pieces he might be willing to trade-in. From my personal experience with DBs, they are always curious to see what they might get from you in a deal, balanced with cash.
 
Jerseyhammer
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JwRosenthal JwRosenthal
I’ve noticed the same kinds of changes, particularly with newer (90’s-00’s) Speedy’s- there was a week or two where there were 3 newish Speedy’s all around or under $4k- I was surprised- I thought the boat had sailed on $4k speedys.
I have also noticed a surge of some fine Longines examples lately at reasonable prices- but the market seems soft on them here despite brisk sales at comparable prices on eBay.
I haven’t seen as much Rolex here in the last 6 months as I used to, but the market is on fire everywhere else for anything wearing the coronet so it I assume higher dollars can be gained on WUS for mediocre examples (just because it has the name) or TRF for better examples (because those guys have deep pockets for primo Rolex and don’t suffer as much other brand distraction like here).
What I have noticed sadly on the open market, is the drying up of what was once a huge pool of “bargain” watches. If you follow the bargain thread, 6 months to a year ago it was ripe pickings from dress watches to divers and chronos- but the pickings have become slim recently and harder to find quality pieces at good values- everything has inflated.
About a year ago I posted in the diver thread about different “tiers” of divers and their rough price points. Since then, there has been insane movement in that market and prices that has been steady for years have been thrown out of whack. Chrome plated divers with basic Swiss movements that were easily had for $50 all day long are now fetching $200, stainless no-name or sub-brand divers once $200 are now pushing the $500 mark or more!
I think watching the flow of the market as a mild collector and spectator can be fascinating, but as an avid collector or dealer- it’s nail biting.
The classic is the Seiko SKX’s massive price increase over the last 12 months
 
Dan S
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Is it just my imagination, or is the private sales section more stagnant than usual? I made a rough count of the first two pages, and about half of the listings have been there for about a month, most with many bumps. Is that normal, just the usual summer slump, or something different?

73609372.jpg
 
Redwes25
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Dan S Dan S
Is it just my imagination, or is the private sales section more stagnant than usual? I made a rough count of the first two pages, and about half of the listings have been there for about a month, most with many bumps. Is that normal, just the usual summer slump, or something different?

73609372.jpg

My two cents are with a bit of the recent market pull back a lot of listings have a bit of unrealistic expectations. Things priced properly still move quickly.
 
TheGreekPhysique
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Dan S Dan S
Is it just my imagination, or is the private sales section more stagnant than usual? I made a rough count of the first two pages, and about half of the listings have been there for about a month, most with many bumps. Is that normal, just the usual summer slump, or something different?

73609372.jpg

I have to be honest.. I have really paid attention to price or sales trends in a month by month basis in the past so this may very well be a normal August but it definitely does seem like prices for a lot of watches have continued to drop and watches are listed for sale for much longer. Talking to my brother, who works for Vanguard, they are predicting a rather long recession. Perhaps that has something to do with it. Also, from talking to various people, it seems like many people decided to go on vacation for the first time in a couple of years. Having just finished one myself I am definitely tighter with my wallet. I told my wife "no more spending until Christmas!" ... We will see how long that lasts lol.
 
YYTIN
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Dan S Dan S
Is it just my imagination, or is the private sales section more stagnant than usual? I made a rough count of the first two pages, and about half of the listings have been there for about a month, most with many bumps. Is that normal, just the usual summer slump, or something different?

73609372.jpg
I did notice it too. Was thinking over going for my first sales but it seems not to be the right moment (what a good excuse )
Anyway I agree that the global perspectives are not the brightest right now, maybe this plays a role.
 
Dan S
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Historically, the summer is always somewhat slow, but usually it's slow in both directions. Not much inventory, not many sales. Hopefully, the market will find its own level and things will pick up in the Fall.
 
kippyk
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I agree that the sales are slow, but bad economics should cause some people to sell. I have heard from the highest authority that comic book memorbilia is being sold and auctioned and the highest rate ever. Younger people selling for rent & gas money?
 
ATWG
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Having listed and sold a few watches recently, sales have been challenging to say the least. A lot of low ball offers and the usual bat crazy offers from zero or one post trolls. Luckily, most folks here are not dependent on watch sales as primary income, dealers however, must be feeling the pinch. I can't remember a time where good quality Speedmasters and Rolex GMTs sat for weeks or months.

I think we are witnessing a new phase in the life cycle of this hobby, impacted by downward economic pressures. As the old saying goes, buy when everyone is selling, sell when everyone is buying....

Happy hunting!
 
UncleBuck
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Know your product, know your market, buy low, sell high.
What has changed in the last few thousand years?
 
sheepdoll
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I am still buying more than I should. It is a good time to be a buyer. Especially if one is looking at the low end of things.

I do need to start selling. A lot of what I have in mind to sell does not seem to be moving much. I have noticed a lot of 0 bids in my addiction. The excuse is that I am 'researching' what things are selling for. I also notice that things seem to sell more often at certain times. Typically between 5PM and 7PM Pacific time. Sundays seem to have most stuff coming up especially on Goodwill (which is a horrible place to look for watches. Cameras and lenses on the other hand ...)

Mostly I will need to sell stuff to make room for what I am buying. On the other hand I suspect that selling is a lot more work than buying ...

-j
 
RevZMan123
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I have been spending more than I should but I'm not going crazy. Ok, maybe 9 watches in 3 months is a little crazy. Plus a ton of tools and movements to start my watchmaker journey.

I spend too much, everyone else needs to keep up. 😀
 
Evitzee
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Inflation is going strong, energy issues for this winter and beyond aren't clear, recession is here or soon will be, and interest rates going up means the economy is struggling. People are being naturally cautious.

But I think part of the problem on the sales forums here are the number of eyes the ads receive, the audience is limited compared to C24 or most of the larger sales outlets, or an auction house. There are some watches here that are fairly priced but won't sell on OF, the watch price doesn't match what the audience wants to spend. I find many want a bargain price here, so many watches sit and get the dreaded "price reduction" treatment, which I think is deadly for the seller. Just my opinion.

As always, seller needs to be realistic in his asking price. Know the current market and your audience.
 
Dan S
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Evitzee Evitzee
Inflation is going strong, energy issues for this winter and beyond aren't clear, recession is here or soon will be, and interest rates going up means the economy is struggling. People are being naturally cautious.

But I think part of the problem on the sales forums here are the number of eyes the ads receive, the audience is limited compared to C24 or most of the larger sales outlets, or an auction house. There are some watches here that are fairly priced but won't sell on OF, the watch price doesn't match what the audience wants to spend. I find many want a bargain price here, so many watches sit and get the dreaded "price reduction" treatment, which I think is deadly for the seller. Just my opinion.

As always, seller needs to be realistic in his asking price. Know the current market and your audience.

Totally agree. Many of the buyers here are collectors and have no need to buy another watch unless they are tempted by something special or a good price. On many occasions I've listed a watch here with little interest, and then sold it for substantially more on eBay.

On the other hand, at the same time we seem to be overwhelmed with newbies willing to pay exorbitant amounts for mediocre watches on C24. 😕
 
Evitzee
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Dan S Dan S
On the other hand, at the same time we seem to be overwhelmed with newbies willing to pay exorbitant amounts for mediocre watches on C24. 😕
Absolutely, there was a like new Ed White 321 that went up on European Watch (Boston) yesterday for $23.9k, which is a pretty rich price. Already on hold. That watch, at that price, would sit forever here on OF.
 
Canuck
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32 years ago, I was working for an Omega dealer who resisted my tendency to wear Rolex watches at work. He put it to me in such a way that I felt obligated to buy an Omega (at cost, less a discount). I deliberated for a while, and decided that I would by my Speedmaster 345.0808 with the sapphire case back. This was before the internet and the Omega Board, of course. I got the distinct feeling at the time that Omega would milk the moon landing for all it was worth. That has proven to be the case. If Speedmaster sales aren’t burgeoning, it might be from continued overexposure.
 
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