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“Private Watch Sales” recent trends and observations
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ChrisN
·As @cristos71 has just demonstrated, with quality pieces at fair prices, coupled with sharp photos, there is no issue with selling at the moment. I think I've seen three adverts within half a week and they all appear to be gone. Prices from a few hundred to a few thousand.
In the end, it usually comes down to people overpricing their watches and so they hang around here for ages.
The late Speedmasters in good condition are still about. Here's my 1997, owned from new.
Cheers, Chris
In the end, it usually comes down to people overpricing their watches and so they hang around here for ages.
The late Speedmasters in good condition are still about. Here's my 1997, owned from new.
Cheers, Chris
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JwRosenthal
·As @cristos71 has just demonstrated, with quality pieces at fair prices, coupled with sharp photos, there is no issue with selling at the moment. I think I've seen three adverts within half a week and they all appear to be gone.
In the end, it usually comes down to people overpricing their watches and so they hang around here for ages.
Like real estate:
1)If it’s priced to move, it will move.
2)Location, location, location- in watches it’s condition, condition, condition.
3) If you are lacking #2, see #1
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S.H.
·As @cristos71 has just demonstrated, with quality pieces at fair prices, coupled with sharp photos, there is no issue with selling at the moment. I think I've seen three adverts within half a week and they all appear to be gone. Prices from a few hundred to a few thousand.
In the end, it usually comes down to people overpricing their watches and so they hang around here for ages.
The late Speedmasters in good condition are still about. Here's my 1997, owned from new.
Cheers, Chris
Yes, and a lot of private sellers are aligning their prices to the (advertised) prices of some online dealers. Unsurprisingly, not a recipe for success.
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Spacefruit
··Prolific Speedmaster HoarderThat story sort of points to guys who thought they could actually quit their day jobs to flip vintage watches.
^^ This!
Like real estate:
1)If it’s priced to move, it will move.
2)Location, location, location- in watches it’s condition, condition, condition.
3) If you are lacking #2, see #1
I love this. It would have taken me paragraphs to articulate.
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YYTIN
·I second that.
A good friend of mine who works for LVMH has his connections with Tag Heuer's senior Swiss RBU management... It seems that they've had a wonderful year financially speaking. Local folks with good levels of disposable income were not able to spend it on vacations and have blown it on (questionable 😁) watches instead...
As far as the general private sales is concerned, if the price is right, it sells... Greediness doesn't work anymore though...
Same vision from where I stay : in the middle of France in a medium city. Neighbors are running a Watch shop and sells are going fine. People with money still have money and less opportunity to spend it. So in the short term, covid seems not to be putting so much pressure on demand & prices.
All the others explanations - more related to the maturity of the market & its actors, the last 10 years growth of interest towards watches, the evolution in the behaviors of some investors/dealers, the rarity of good pieces in parallel to the availability of average pieces - looks more logical to me, even though I have a short sight view regarding this watch market.
I would also say that to some extent the late international context is not promoting at all international transfers. Not sure either but in OF we have also a US bias (or at least Native English speakers) & a "niche" players bias : the asian vintage watch market seems to expand and some dealers out of OF seems to be able to keep raising prices (maybe not on Speedies).
And you add to all this fashionista trends & cycles, some societal trends in search of a glorious past, and you have a good combo to have a very interesting market but not so easy to navigate.
Personally I try to buy watch only thinking about the pleasure to wear not thinking too much about the market, but that's true that thinking you always can resell without losing money is pushing the frontier of what is reasonable !
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worldwidewes
·^^ This!
Like real estate:
1)If it’s priced to move, it will move.
2)Location, location, location- in watches it’s condition, condition, condition.
3) If you are lacking #2, see #1
This is absolutely true. I've only made one vintage purchase so far, but I made sure that I purchased a watch in really great condition. These things are expensive enough that it's reasonable and smart to worry about how much you can get back for a watch if you sell it. To me, it seems like the best way to have a financially rewarding collection is to buy watches in great condition. I bet it's way easier to sell a great condition watch for an "unreasonably high" price than it is to sell a watch in average or poor condition for an "unreasonably high" price.
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JwRosenthal
·This is absolutely true. I've only made one vintage purchase so far, but I made sure that I purchased a watch in really great condition. These things are expensive enough that it's reasonable and smart to worry about how much you can get back for a watch if you sell it. To me, it seems like the best way to have a financially rewarding collection is to buy watches in great condition. I bet it's way easier to sell a great condition watch for an "unreasonably high" price than it is to sell a watch in average or poor condition for an "unreasonably high" price.
There can also be great value in beaters- they are great to wear and offer tremendous value....or at least they used to. The lines have been blurred where sellers are asking reference prices for beater watches. In years past, they would have just been laughed at- but the current frenzy has shown that they can get away with it- thus driving the beaters up on value.
Hopefully we are seeing a correction, it will never go back to the early 00’s where you could get a nice step dialed Speedy for $500, but the current insanity is just ridiculous.
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oddboy
·Very interesting comments all round. My only contribution is to point out that there's lots of words, and not many pics of watches....
....especially speedies....
....especially speedies....
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worldwidewes
·Great condition watches rarely lose their value. And you can wear great ones without destroying them (don’t do strip mining with a NOS SM300). That said, there is a difference between buying to wear versus buying strictly to collect reference examples. There is nothing wrong with “safe queens”, every hobby has collectors who go after truly NOS examples (like toys still in the packaging). They have no intention of wearing it, it’s about having the “perfect” one- they hold the examples by which all others are judged. Once it leaves that box and goes on the wrist- it is no longer that.
There can also be great value in beaters- they are great to wear and offer tremendous value....or at least they used to. The lines have been blurred where sellers are asking reference prices for beater watches. In years past, they would have just been laughed at- but the current frenzy has shown that they can get away with it- thus driving the beaters up on value.
Hopefully we are seeing a correction, it will never go back to the early 00’s where you could get a nice step dialed Speedy for $500, but the current insanity is just ridiculous.
Agreed. I think we are seeing a correction right now. I know people are unhappy about the fact that the market is a bit cold right now, but I think the result of all this is going to be a much more efficient market, where great watches sell quickly at reasonable prices and watches that aren't so great only sell at bargain prices.
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kip595
·Agreed. I think we are seeing a correction right now. I know people are unhappy about the fact that the market is a bit cold right now, but I think the result of all this is going to be a much more efficient market, where great watches sell quickly at reasonable prices and watches that aren't so great only sell at bargain prices.
I think that's a good point, and some people (usually flippers, I'd suspect) forget that there are SOME of us out there who don't mind a 'so-so' example at a sane price - I say this because I'm one of those people, and have learned that while I appreciate a watch being clean, some scuffs and dings normally don't bother me since I wear all my watches.
For me, the examples that are simply too nice get moved along quicker than the ones with a solid dent or scratch, etc, but which make great wear-about pieces.
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JwRosenthal
·Agreed. I think we are seeing a correction right now. I know people are unhappy about the fact that the market is a bit cold right now, but I think the result of all this is going to be a much more efficient market, where great watches sell quickly at reasonable prices and watches that aren't so great only sell at bargain prices.
Collectors tend to be more personally invested. Just like nobody likes to be told their child is stupid or ugly, nobody wants to hear their watch is a mediocre example or they purchased foolishly. But we all know...just be realistic about what you have, and where that fits into the market and either celebrate your acumen or take your licks...it’s not personal.
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kov
·it will never go back to the early 00’s where you could get a nice step dialed Speedy for $500
Back to supply/demand. Supply was high, demand was low back then. Opposite to nowadays. Plus, a number pieced disappeared from the market in the meantime : stored away, broken down in parts, damaged/destroyed... there will never ever be more of those.
Supply will only surpass demand again if general interest for Speedmasters sinks...
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WatchCor
·^^ This!
Like real estate:
1)If it’s priced to move, it will move.
2)Location, location, location- in watches it’s condition, condition, condition.
3) If you are lacking #2, see #1
You sir, have a skill of condensing the matter to the essence of it. Well written.
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Jorisvp
·About the current trends....
105.012 63 Speedmaster for USD 83k. Did I miss something here, or is this just not a super exceptional example? Ok, grey-ish no T dial, but that’s about it right?
Link: http://www.db1983.com/vintage-watches/omega-speedmaster-105012-63-grey-dial-1965?imageID=0
105.012 63 Speedmaster for USD 83k. Did I miss something here, or is this just not a super exceptional example? Ok, grey-ish no T dial, but that’s about it right?
Link: http://www.db1983.com/vintage-watches/omega-speedmaster-105012-63-grey-dial-1965?imageID=0
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Fatcat
·Hi the two Brothers at least no surprise and quality that leads to thoses prices , I know a couple of people able to pay that prices if everything is there not surprising .
quality pays
Paul
quality pays
Paul
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Dan S
·Special dial.
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eugeneandresson
·Special dial on a normally unseen -63...a rare combination indeed....
FIFY
