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Kiwibloke
·From personal experience, I can tell you that within the past 6-8 weeks watches have been selling extremely well, and we are talking about top-quality examples at above-average prices.
Getting more flummoxed and bamboozled by vintage prices
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Walrus
·I was on Reddit watch exchange this week looking for old divers. I noticed watches popping up and being sold in an hours time in several cases. Anything priced reasonably was quickly sold. I’m not here recommending Reddit watch exchange I bought a dynamic a year or so ago but generally they want friends and family and I’m hesitant to do that on Reddit. I can’t say I saw a lot or inflated prices, those that were didn’t move. I just found it interesting at the speed in which many things were selling.
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mzinski
·I originally had similar sentiments - with an international crisis it would seem logical the price of luxury goods like watches would drop. But on further consideration I can rationalize why that's not happening:
- If vintage watch dealers have not managed their cash poorly they should be in a VERY good position to ride out a significant economic downturn. Looking at the trajectory of vintage prices in the past few years and considering the supply dealers are sitting on, they have likely been raking in likely profits these past few years. Assuming I'm correct or even close to correct, the dealers still have no incentive to release more supply into the market or sell at a discount.
- The people with money to spend on watches (luxury goods) are still in a position to spend money. They are either sitting well with investments or working remotely. A developer client told me an anecdote: "Trickle down economics really only occurs in economic downturns. Investors will not feel the pain so they force developers to cut fees, developers will not feel the pain so they force professionals to reduce service fees, owners of professional service firms will not feel the pain so they cut staff or reduce salaries."
- Owners and dealers of vintage pieces have all the reason in the world to maintain value of their pieces. It's in their best interests to continue fixing the prices.
- If vintage watch dealers have not managed their cash poorly they should be in a VERY good position to ride out a significant economic downturn. Looking at the trajectory of vintage prices in the past few years and considering the supply dealers are sitting on, they have likely been raking in likely profits these past few years. Assuming I'm correct or even close to correct, the dealers still have no incentive to release more supply into the market or sell at a discount.
- The people with money to spend on watches (luxury goods) are still in a position to spend money. They are either sitting well with investments or working remotely. A developer client told me an anecdote: "Trickle down economics really only occurs in economic downturns. Investors will not feel the pain so they force developers to cut fees, developers will not feel the pain so they force professionals to reduce service fees, owners of professional service firms will not feel the pain so they cut staff or reduce salaries."
- Owners and dealers of vintage pieces have all the reason in the world to maintain value of their pieces. It's in their best interests to continue fixing the prices.
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Jonathan40
·Very interested to see how this dynamic plays out. Here in the UK despite low interest rates personnel finance has been trimmed. Low interest rate loans and 0% deals have been cut over the last few weeks. I’m very fortunate to have no out goings despite owing my own family home and cars but next year I have a big birthday and have always fancied a 981 Boxster (last 6 cylinder model) so had to jump now to secure the 50% of the money I wish to spend in the form of a loan (£4 per week over 4 years to borrow £15k I’m happy with) I will need to shift a few watches to plug the gap so maybe I can have my cake and eat it. The experts don’t quite know where the global economy is going to gos speed to everyone and hope your decisions work out.
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chipsotoole
·Yep, casual employees with a couple of jobs at restaurants and bars just to live that are bearing the brunt at the moment aren't your watch shoppers.
As the OP mentioned, like himself it's the working from home browsing more whilst the boss or coworkers aren't looking 😗
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Davidt
·It's certainly not just dealers and on eBay.
There seems to be an ever increasing number of private sellers on OF offering watches and parts for way above market imo.
There seems to be an ever increasing number of private sellers on OF offering watches and parts for way above market imo.
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Walrus
·Yes I've sold a dozen or so watches there in the sub $300 price range, and they've mostly sold within hours, with multiple offers. The hunger is real!
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