"50% off", LMAO, no. The bubble is bursting and they're trying to sell them to you before they tank even more. When the watches are back to normal MSRP prices or lower is when it will be worth considering purchasing.
Late last year & early this year when market was still very hot… I commented that the bubble will eventually burst … just like stock, bond, housing, crypto , etc… of course many ppl didn’t agree with that view back then… Many ppl said high prices are here to stay… Now I’m going to say that watch market is gonna drop further… a lot more room to go… the watch dealers say market is stabilising n unlikely to go down…I beg to differ… When inflation is high, Fed increases rates and removes liquidity from the market via QT. Those who over leveraged find themselves in trouble. Many will be forced to sell whatever assets they have on hand… stocks, property, watches, crypto etc. when there are more ppl doing this, asset prices going down … Those dealers who bought inventory at high price and refuse to let go now, thinking market will go up soon, will be going down the drain.
I love you Michael, You are honest about the prediction in prices. These watch dealers are always biased. They talk as if they are financial analysts. I have been collecting watches since 2002 and never ever saw a watch market like this in the last 2 years. Good Luck to people who bought these watches at 3X or 4X. I hate when people say watches are investment, Watches are meant to be worn enjoyed and passed on. These dealers and flippers killed the fun of collectors and watch enthusiasts. I am sorry if i hurt anybody's feelings. I hope that there will be a day soon that you can walk into an AD and buy a watch of your choice.
I don’t think there’s a bubble, only a bubble to a curtain extent. Rolex submariners will NEVER go below retail. Daytonas will never go below 2 times there value.
No way you can any watch you want from the ad. That’s not their business model. But I agree that the marked is more or less fu*ked. It will come down on certain models and other models will go up. But what I can agree 100% on is that watches are meant to be worn, enjoyed and passed on. 👍🏻
Who cares about pleple who bought watches at 3x 4x prices. People who are buying 50k, 100k, hell even 5k+ USD watches have those money to BURN. They do not need them for living.
50% off 😂 Still a lot more than retail. I’d never buy flipped watches in the grey market. Guess a lot of people including dealers lost their ass. It couldn’t happen to a nicer bunch of schmucks.
@Dell Wright not really. I bought three rolex from regular AD’s. Explorer 1 in 2020, Explorer 2 in 2019 and a SkyDweller in January of this year. Just by walking into local stores in Germany, Las Vegas and Spain. For the SkyDweller I had to wait a month. I had no prior relationship with these dealers. Oh, I even got one of these fun Swatch watches too. 😅
Amazing how the Nautilus 5711 according to this video when filmed early Aug was $140k... as of Aug 16, 2022... that same exact model with box and papers is now going for $117k on chrono24 and nobody is buying. Keep the price cuts coming!
so real price is 85% of lowest chrono prices since there are 7% fee and the other 8% is discount to move. Watch Affociado way overprice their watches anyways. You can get better pricing from other grey dealers
Whenever watch retailers/sellers talk prices, they always say they're gonna be stable... Always time to buy, never time to wait... I don't think they act ethically. More like scammers, actually. Don't like this a bit, sorry.
Enjoy the squirming. Come back in another three months and watch them say prices are "stable" after more large falls. These guys are giving a free education to those who had the sense not to spend stupid money up to now. Many people will learn the dealer is not your friend and never was. 😊😊😊
I like how he avoided Michaels question 😂. I think the Luxury watch Market will continue to dip over the next few months. The lucky few who get to purchase them at list will be good
@AWN 777 we are already in a recession that has a likelihood to get worse in the next few months. I think it’s safe to say luxury goods like watches and jewelry will certainly have a pullback
People borrow to buy cars which depreciate so why not borrow to buy a watch which has more chance of appreciating if you can afford it,but its all about timing obviously buy when prices are low
As a Swiss following the watch market I can tell you that prices will fall MUCH more. Its quite likely that you will be able to buy most Rolex, AP and PP under list price within 6-12 months as the global recession hits hard. All speculators and grey market dealers will be flood the market with watches whilst very few people will buy.
Yes agreed. Rolex 'expressions of interest' (waiting lists) are very healthy at the moment, but it'll be a different matter next year, when people get the call.
Haha it's so fun to see them sweating and hoping they would flip them asap before they will start the sell below the sticker and they will. Trust me...
I will never pay a penny over retail and quite happy to wait for the stuff I want. Watches arent investments, you buy them to wear them. I'm actually glad the market took a big hit, hopefully it will come down even more. People went bat shit crazy and paid 60,000$ for a 4000$ watch for fucks sake. Personally I'm not interested in the top segment of the market anyway. Quite happy to stay within the 2500$-15000$ range.
You see Vadim is being very quiet cuz he knows that we haven't hit bottom yet. Prices are going to keep on dropping...it wasn't too long ago in 2016 or 2015 when you could buy rolexes, and popular ones at that, for under retail price. In the next 3 to 6 months I'm waiting for those Glory Days to return.
You are the first who really understand....... Just wait it will go down big time.... People who are in this stupid empty lonely word of watches with all their money know ..... It was all about fast money. Me me me.... They Will loose big time
whenever someone tells you "commodity X will never go down", "investment Y wiil definitely retain value", run like the wind. I'm glad to see that Michael has always been careful with his words, unlike some dealers featured in his videos. people just don't learn from history. there's almost no investment that is hazard free. and the more irrational the value, the more volatility it possesses.
What’s the point of asking watch salesmen the status of the watch market? Any conflict of interest? 😂 I mean look at 9:26, what is he going to say? “Don’t buy now”? 😂
Omg this guy is scared to admit it might just be half way through the correction. Prices are 200% inflated and he thinks a 20% correction is the bottom . Lol sooo funny
"We are now at fair market." Well, 6 months ago when that steel 5711 was $200K and that panda Daytona was $55K, that was fair market at that time. The market changes. Pricing above fair market means charging more than others are charging at that time. Fair market changes with time. It is not stable. Whenever you're paying over MSRP, you're at risk.
It won't be long before dealers are trying to offload for much less. One of those guys looks like he's already been scalped by whoever he's leveraged to. 😂🤣😂🤣😂
Producer Michael, you need to call those guys out on their recommendation. Anyone who knows money, and anyone with any kind of fiduciary experience, will tell you that we are headed for a prolonged and deep recession. The primary watch market has not bottomed out. And the secondary market has a long way to drop before it stabilizes. It will be between 6 and 12 months, and most Rolex models will be available at MSRP. Or discounted. Many dealers have been hanging on to inventory hoping prices have bottomed out. But they will not be able to sit on inventory indefinitely. And when that happens, those millions and millions of Rolex will be available on the market. Not the scarce models, or the limited editions. Or the rare gem editions. But it will not be long before we will be seeing Batman's in the gray market at MSRP or lower.
Because of Rolex constantly playing games with not releasing watches and having only exhibition watches I have purchased a Grand Seiko Shunbun. Fantastic watch, dial and movement. No stupid questions, long wait list or snobbery. Went in, made to feel very welcome and brought the watch.
But you wanted a Rolex, that’s the issue with people buying substitutes, it will never ever feel as good as that Rolex. It is awful what ADs do, but you got to play the game, to win. You buy watch you truly want.
Great piece and congrats! I have a shunbun as well and love it. With all the bad vibes surrounding Rolex, I went into an AD in my hometown and couldn't be happier with the service and experience of putting my name down. I'm not in a rush to purchase and there's a sort of thrill in the chance of getting the Rolex I want at MSRP.
@@acac1982 I have a Rolex Milgauss 116400GV and a 2016 116900 Airking. Loved the watches and still do. I was just saying that I cannot purchase anymore due to the games Rolex play. I’d like the Tiffany OP but well out my price range now. I kept asking Rolex AD’s for this but was told I would never get one. These are one of the cheapest watches Rolex make but I give up on waiting and won’t pay the secondary market a huge mark up
Second 0:38 into the video something is up with the guy in black. Everytime Michael says "down in value" or "collapsed" or "decreased" you can tell these guys get ticked lmao! It's probably because they prefer "corrected" as apposed to the wording the mike uses which scares customers away. The fact of the matter is Mike's wording is THE HARSH REALITY. THANKS MIKE!
Doesn’t matter If you are rich or not. No watch in the world should have a pricetag of more then 30K. If you have diamonds max. 50K. But stainless steel watches over the 10K!? People with class and style never pay that amount of money for stainless steel. At the end, it’s just a watch.
If they actually sold, I see so many listings that just sit there not selling. Anyone can list something at extortionate prices but is anyone actually buying them or is it all hype from the people just trying to sell them...
The people that took the heavy hits were those that were borrowing just to flip the watches. I don't know how many of those flippers were in the marketplace but it was clearly enough that everyone recognized their influence. With them gone (or slowly getting out of the market) things should begin to stabilize whether that's now or some months from now. People like Michael should be safe because all of his purchases (as far as I know) are done with money he's actually earned so even if the value of his watch collection crashed (as Michael so loves to say) it isn't going to severely hurt him. Though I'm sure he wouldn't be happy.
@@nanoflower1 people are seeing its not really worth it for all the bs you have to do, yes you can buy a watch to resell but after you sell it, it's gone because you'll have to buy another at the price you sold it for. So either keep the watch or make a little profit. I think they put those crazy high listenings up so you feel like you're actually getting a decent deal but you're not.
I like how they all now say “oh yeah prices were high and needed correction” when they are the ones who priced and sold high promising people great investment deals. Bunch of scammers and unethical practices. They should be ashamed of themselves.
50% off of a crazy price is still a stupid price... So you saying that I can get a SUB for 18K when new is 9 but before was 22K ? WOW AMAZIIIING..... and what is this continus clicking sound on the video Adam ?
Clearly the two guys selling the watches are not gonna tell you to keep waiting much longer knowing that prices are going to continue to drop .The higher $ you pay the more $ they make
This reminds me of a video of an FBI drugs bust, where two or three expensively dressed gentlemen sit around a table in a hotel suite discussing a quantity of expensive merchandise. Fortunately for Michael expensive watches are not yet illegal...
Such salesmanship, they look at you straight in the eye telling you a $50K watch "now" selling$150K is hitting a sweet spot. They both know they are still in this game because truth is watches are still insanely over priced, we have not gone anywhere near normal, until these used pieces goes less than retail DO NOT BUY. Great content but these two guys aren't honest. They are here to promote and sell...another thing I hate about these two well dressed salesmen is they now all sound like financial advisor, stabilized, sweet spot, future, market, trends....all these buzz words, these guys are not experts, they are Craigslist flippers, no difference.
@@samuelburton5576 I'm not questioning their integrity but am more than willing to point out that they have a great incentive to see the marketplace through rose colored glasses. After all, telling people the price will only go down from here is not how you sell anything. So they may actually think the marketplace is at a stable point,but until a few months have gone by with relatively stable prices no one can be sure we've hit a bottom. This is true for any market where a large number of the buyers were just flipping the products. It's happened with shoes, with graphic cards and with watches.
@@samuelburton5576 It's a simple principle called freedom of expression, freedom to pursuit happiness. I can say whatever I want as it is my right. These two are clowns. Producer Michael is fine he is making great content, who are you to question me? Watch is like art, all in the eyes the beholder. Sam, think for yourself.
What a surprise another grey market dealer once again saying the same thing they’ve been saying for the past six months “no you’re good NOW, you can buy watches now”. If you aren’t getting that watch at retail, if you don’t absolutely have to have THAT watch and the price is of little concern, anyone buying a watch on the secondary market today is a fool. And you know what they say about fools and money.
These are the videos when i realise Michael is a lot more prudent than he seems. He has been buying watches at cutdown prices while the speculators have been selling off.
He’s very savvy and he didn’t get where he is now without a business brain. Most of his Rolex are at retail from AD. He’s shown quite a few pieces he’s acquired from AD, and Adam made sure he showed the receipt of price he paid. These two have no doubt gone to Micheal and asked to be showcased on his channel.
The GMT Master II, Batman, oyster bracelet, is still double the price on Jaztime. No buy for me. I don't care how long it takes, I'm not paying over retail. If I never get it, oh well.
michael: "i feel bad for the guy who bought it at 320 right? Eddie: who knew, who knew? apparently michael knew. because hes been questioning the meteoric rise on the prices since the beginning and always said its unsustainable. But Its in the best interests of any salesmen to inflate the idea of value which translates to cost so they can make more money. Sure, they may not dictate the costs directly because value is subjective and ultimately based on what someone is willing to pay. But they definitely exacerbated the huge jump/inflation on watches. Just like realestate agents do with houses. After you factor in supply and demand and comps, you can then set whatever price you think u can sell it for.
Everybody on youtube is on this Rolex crash and I’m on Chrono 24 every day trying to buy a Sub Date for a decent price from a trusted seller, and in Europe, at least, you can t find one under 15k €…. When this crash is gonna hit Chrono 24 also?!
When the dealers will see that nobody is buying them at 15k. Then they'll drop to 13k and maybe sell a few, then people will stop buying again. Then they'll drop to 11-12 and so on. Just wait, and buy them at retail ( if things go real bad, you might even find some under retail, but at that point, I don't know if a 10k watch should be top priority ).
A "Correction" on the market. Yup a $100k+ correction LOL, they tanked my dude there is no way around it. Honestly let this be a lesson for the people that got finessed by this market.
I’ve always been a bit baffled why antique watches from the 50’s,60’s,70’s etc don’t command more money. There are some very unique high quality watches from those era’s that are harder to buy than many Rolex, Tissot, seiko etc etc Would be nice if you could feature a video with these sort of watches at some point with watches like sultana, smiths, modina and other vintage watch brands
Watches from that period are much smaller in diameter, so they're out of style. Also, the cost of maintaining them and fixing them is outrageous because the parts aren't available.
I do get that they might be expensive to maintain but if you’re looking for something that not many will be able to find but easily affordable then some of the older vintage watches can be a good option. My sultana chronograph running landerno 149 is a good 38mm wide and looks as good as some of my more modern watches and always get more questions from people asking what it is and where they can get one till I explain how old it is (late 60’s early 70’s)
The watch industry is all about marketing and false scarcity. Patek makes over 60,000 watches PER YEAR. AP makes over 40,000 watches PER YEAR. Rolex makes OVER 800,000 WATCHES PER YEAR. There's no reason most "limited" modern pieces should ever be trading above retail, let alone general production pieces, but gatekeeping by the brands creates that false inflation. Older watches from a time when production was a fraction of what it is now should be objectively more valuable, but the market is dictated by modern trends. Maybe they'll get the recognition they deserve in another 50 years.
Take a look at vintage Rolex Patek VC etc and get back to me. Vintage watches are the most valuable watches in the world. They command much more then there modern counterparts
@@saint7626 exactly! There’s so many older watches out there that are absolutely outstanding in terms of quality and style plus the rarity factor and at fraction of the price.
Yes, watches are same like crypt-o currency $$$, same for classic cars and furniture and yachts, I personally would not buy a 100 000$ watch if it would not slow down the time.TH
Wearing sunglasses inside while looking at fine timepieces is a bit clumsy, as they look also on you face... you seem to be a bit unlucky with your collection of eyewear, wether it is RX or Sunglass.
Weird video. Seems very, dark? Like it lacks color. Also tad short for me. And by tad short I mean like by half. I miss the old videos when you took more time to goof around and go off topic at times. I want to see and hear more of Adam too. That's why I watch you first of all, for you. And don't get me wrong, I'm not hating, I love you guys. Just some constructive (hopefully) criticism. In it to win it.
If you almost have to beg to buy something specially something expensive,i think that's kinda stupid and silly.Even people standing in line to enter a LV or Channel store makes me laugh and i find it stupid (for the lack of a better word) that people do this
At 70% off these guys would be asking too much. It's RRP for new or less for SECOND HAND! I wonder how much debt they've gotten themselves into buying stock...?
I wouldn't buy bubble gum from these guys with zero personality that think they are better than you. I worked for a Rolex AD for year's and if you walked and wanted a Daytona i'd sell it to you if you've never purchased from us before. Commission is Commission and I would not hurt myself to prove a point and Rolex did not ask me to do so!
Michael, the reason why I keep watching your channel is cos you don't give BS to your audience. it has indeed COLLAPSED, not corrected. the reason why watch prices went apeshit is cos of the wild speculation of cryptos.
People finally realizing that Nautilus is actually overrated? Hardly shocking. Is no one gonna talk about the MB&F, just casually hanging while being ignored?
I’m with Michael regarding the crypto collapse. After this collapse even the mugs will be wary of something built solely on ‘confidence’ with no intrinsic value and I never see it recovering. Once bitten, twice shy!
Got into watches last month.Bought an Olevs and an invicta 42mm, Gold (36552) that looks like a Rolex,it's sold out on invicta website.Then I learned the Hulk Rolex collection hit the market which is on bonhams auction website.Every Hulk Rolex from 2010 to 2020.And even the Hulk 2 feet Statue.Min Bid is $29,000 for all of them each.The 2010 Hulk Rolex is $35,000 bid and the 2020 Hulk Rolex is $38,000 bid.The best watches keep time.This is far from what ProducerMichael buys but at least its a start for me and as long as those two watches keep time,i made a good choice.
I’m a fan of those who are a fan of watches and even mansions, hence why I’m forever a supporter of this channel, because I love the lifestyle and possibilities, but come on now lol if something cost 30 K and it went up to 250 K and now it’s at 150… that’s not a correction 🤣 this is why I love producer Michael because he genuinely loves watches, but to all the hustlers and scammers out there, good for you!! I hope the market continues to crash and collapses. We have to love and be honest and fair with one another. But $100,000’s above what it cost to make and pay those who made it is crazy!! That’s like me renting my house out for 3200 when my mortgage is only 1,200 Lol God would be soo disappointed. 🤣 which is why I’m trying to rent it out for 1700 🤣 anyone interested?
