I like Rolex. I really do. But enough already!

[Davidt]

Several times a day, either on forums, FB groups etc, someone posts about trying to get a Rolex from an AD or how to minimise the grey market cost. I read one earlier today about someone waiting until GBP is stronger then driving to Eastern Europe to negotiate with a re-seller.

One of the replies was along the lines of “if you want it, just buy it at UK re-seller price safe in the knowledge that if you want to flog it in the future you’ll either break even or make a profit”.

This makes me laugh. If I’d bought a Rolex at 2-3x RRP I’d be concerned I’d be taking a bath if I had to sell in a few years as to my mind there’s a reasonable chance they’ll fall back to RRP or just below when the economy takes a hit or the insta crowd move onto the next bug thing. When this happens it will obviously snowball as the ‘investors’ will also bail.

It’s back to @dsio’s point. If you bought it to wear and paid what you’re comfortable with, you’re safe. If you bought it needing prices to increase or at the very least stabilise, I think you’re on this ice.

 

[Archer]

Am I going to be sad if the Rolex market tanks and the person who bought this loses their shirt? Not one fecking bit...

Rolex - The 2021 New York Watch Auction December 2021 | Phillips

 

[cvalue13]

pdxleaf

Rolex seems to get a bad rap simply based on everyone in the world thinking easy money. At least with Rolex you get a decent watch as compared to bitcoin.

bitcoin? That’s a nearly de-risked fiat currency compared to the bleeding edges of meta-verse investment

Here’s what one NFT (the 8-bit portrait of a monkey below) sold for a few days ago; up just a little from its original price of $0.05 just 3.5 years ago



Facebook didn’t just re-brand its top-co “Meta” for nothin’ 😁

 

[Nobel Prize]

I do think it’s a little bit saturated and I do think the frenzy fever will pass. I can’t imagine e this demand continuing forever. The market price will go down for sure as there is an over supply of secondary market pieces right now and not enough demand at those price points. In the meantime I found this at Walmart.

 

[Donn Chambers]

Archer

Am I going to be sad if the Rolex market tanks and the person who bought this loses their shirt? Not one fecking bit...

Rolex - The 2021 New York Watch Auction December 2021 | Phillips

I have to believe that sale price is in HK$, not US $ and the HK is missing. Or else the bidder thought they were buying in HK$. Because if they really paid $95k intentionally, that’s a special kind of stupid.

 

[Archer]

Donn Chambers

I have to believe that sale price is in HK$, not US $ and the HK is missing. Or else the bidder thought they were buying in HK$. Because if they really paid $95k intentionally, that’s a special kind of stupid.

It was a New York auction, so....

And HK$ would be under market I think, so unlikely.

 

[Larry S]

Nobel Prize

I do think it’s a little bit saturated and I do think the frenzy fever will pass. I can’t imagine e this demand continuing forever. The market price will go down for sure as there is an over supply of secondary market pieces right now and not enough demand at those price points. In the meantime I found this at Walmart.

I thought you were kidding! Surreal.

 

[JwRosenthal]

Donn Chambers

..::that’s a special kind of stupid.

Can we have this flashing at the top of the Rolex sub forum?

 

[Donn Chambers]

Archer

It was a New York auction, so....

And HK$ would be under market I think, so unlikely.

The expected range in HK $ is just above the sale price and is HK$ 62,400 - 93,600, so in HK$ it's within the expected range.

But you are probably correct it is in US dollars based on the crazy prices the Pateks went for in the same auction.

 

[JwRosenthal]

Donn Chambers

The expected range in HK $ is just above the sale price and is HK$ 62,400 - 93,600, so in HK$ it's within the expected range.

But you are probably correct it is in US dollars based on the crazy prices the Pateks went for in the same auction.

So $94k for a Hulk, $100K+ for mediocre Ed Whites….something doesn’t smell right.

 

[Jeeper]

Thought this was quite interesting, Omega almost 50% production & almost 50% average price.

 

[kkt]

Rasputin

Rolex is in such demand that apparently all the models on display at the local AD are only "shell" watches without movements.

I'm sure they'll sell as well as shell cars at the auto dealer that don't have any engines in them.

 

[JwRosenthal]

kkt

I'm sure they'll sell as well as shell cars at the auto dealer that don't have any engines in them.

Oh no, is this happening? Sales models for display with no promise of delivery?

 

[pdxleaf]

dsio

...Our position has always been that of a consumer / collector focused community of people that just love cool watches and take pleasure from them and that doesn’t happen when they’re in vaults, or when people can’t afford them because they’re getting scalped hard, or when some AD sells someone an allocation then when the watch arrives refunds it and lists it above msrp on eBay which happened with the white dial Snoopy. ...

This. This is what we appreciate about this special place you have built.

The real world can't help but intrude at times because we live in the real world. I don't want to react but I do feel my blood pressure rise when I see a Snoopy3 advertised for 30k. Similar to Rolex prices.

But it is what it is. It's not comfortable speaking badly of Rolex. I don't own one but would like a 1675 or 16750 or maybe a Milgauss or James Cameron (a bit too thick for me.) But only at msrp, and NOT because I don't want to pay more than retail but because of what I could buy for the same money in other watches. It's also disheartening but whenever I contemplate buying a Rolex, I can't imagine wearing it because of how the brand is perceived. But that is on me as I shouldn't care what others think. So maybe one day I will find one that i can't live without.

There is a lot of madness in the current economy. Rolex shouldn't be held responsible for all of the current state. But the most unfortunate effect of the Rolex craze would be if I allow it to make me bitter towards Rolex watches or devolve into a Rolex vs Omega debate.

Back to your comment, I appreciate the OF for the members' knowledge and enthusiasm of all things watches and most importantly, for the positive and encouraging support of others, especially people who wear and love Rolex just as much as Omega, or Bulova, or vintage Hamilton, or Seiko (you can see where my budget is 😉.) But right now, it is hard to appreciate Rolex as a watch and ignore that a Rolex watch has become a commodity that is traded like other commodities.

Starting to ramble. What was the question again?😗

 

[DoctorEvil]

pdxleaf

This. This is what we appreciate about this special place you have built.

The real world can't help but intrude at times because we live in the real world. I don't want to react but I do feel my blood pressure rise when I see a Snoopy3 advertised for 30k. Similar to Rolex prices.

But it is what it is. It's not comfortable speaking badly of Rolex. I don't own one but would like a 1675 or 16750 or maybe a Milgauss or James Cameron (a bit too thick for me.) But only at msrp, and NOT because I don't want to pay more than retail but because of what I could buy for the same money in other watches. It's also disheartening but whenever I contemplate buying a Rolex, I can't imagine wearing it because of how the brand is perceived. But that is on me as I shouldn't care what others think. So maybe one day I will find one that i can't live without.

There is a lot of madness in the current economy. Rolex shouldn't be held responsible for all of the current state. But the most unfortunate effect of the Rolex craze would be if I allow it to make me bitter towards Rolex watches or devolve into a Rolex vs Omega debate.

Back to your comment, I appreciate the OF for the members' knowledge and enthusiasm of all things watches and most importantly, for the positive and encouraging support of others, especially people who wear and love Rolex just as much as Omega, or Bulova, or vintage Hamilton, or Seiko (you can see where my budget is 😉.) But right now, it is hard to appreciate Rolex as a watch and ignore that a Rolex watch has become a commodity that is traded like other commodities.

Starting to ramble. What was the question again?😗

Absolutely spot on. Can't agree with you more.
I too would love to get a GMT Master, preferably a 16710, as I'm an aviation nut and it's an iconic pilot's watch. But not at the current inflated grey market prices. For the same money, I could get 2-3 other watches, brand new, which would give me almost as much joy. The value for money equation just doesn't stack up. And it kinda defeats the whole purpose of getting it as a travel watch when wearing it in certain parts of the world could get you mugged or even killed. Guess I'll have to be patient and see how this Rolex craze pans out...

 

[lindo]

pdxleaf

This. This is what we appreciate about this special place you have built.

The real world can't help but intrude at times because we live in the real world. I don't want to react but I do feel my blood pressure rise when I see a Snoopy3 advertised for 30k. Similar to Rolex prices.

But it is what it is. It's not comfortable speaking badly of Rolex. I don't own one but would like a 1675 or 16750 or maybe a Milgauss or James Cameron (a bit too thick for me.) But only at msrp, and NOT because I don't want to pay more than retail but because of what I could buy for the same money in other watches. It's also disheartening but whenever I contemplate buying a Rolex, I can't imagine wearing it because of how the brand is perceived. But that is on me as I shouldn't care what others think. So maybe one day I will find one that i can't live without.

There is a lot of madness in the current economy. Rolex shouldn't be held responsible for all of the current state. But the most unfortunate effect of the Rolex craze would be if I allow it to make me bitter towards Rolex watches or devolve into a Rolex vs Omega debate.

Back to your comment, I appreciate the OF for the members' knowledge and enthusiasm of all things watches and most importantly, for the positive and encouraging support of others, especially people who wear and love Rolex just as much as Omega, or Bulova, or vintage Hamilton, or Seiko (you can see where my budget is 😉.) But right now, it is hard to appreciate Rolex as a watch and ignore that a Rolex watch has become a commodity that is traded like other commodities.

Starting to ramble. What was the question again?😗

This encapsulates my thoughts exactly - thank you for writing it much more eloquently than I could have.

The only upside of the Rolex fascination amongst the great aspiring masses is that it may have promoted interest in other mechanical watches, at a time when technology change (think Apple watch) has made them puzzling ancient artifacts to younger minds. Although my grandchildren probably regard me as a puzzling ancient artifact anyway, and my watch collection is just part of the same package.

 

[Dan S]

pdxleaf

I don't own one but would like a 1675 or 16750 or maybe a Milgauss or James Cameron (a bit too thick for me.) But only at msrp, and NOT because I don't want to pay more than retail ...

DoctorEvil

I too would love to get a GMT Master, preferably a 16710, as I'm an aviation nut and it's an iconic pilot's watch. But not at the current inflated grey market prices.

Let's not conflate grey market pricing of new models with market value of vintage references. IMO, collectible vintage models are fundamentally a separate market, and the prices are determined through trading that is quite active. There is no "retail price" or MSRP for a 1675 or any other watch that is 50 years old. Yes, prices are rising because people want vintage Rolex sport models, but good vintage watches are in limited supply for every brand.

 

[ExpiredWatchdog]

JwRosenthal

Oh no, is this happening? Sales models for display with no promise of delivery?

You just got here?

 

[JwRosenthal]

ExpiredWatchdog

You just got here?

Rolexes I know, but cars? I wouldn’t doubt anything these days.

 

[8100_RPM]

Wow, I didn't realize Longines produced 1.5M watches a year. Where are they selling them? Asia?