David Thank you for this video, between you and Federico there is not a lot of honesty out there on these RU-vid streets. Your honesty is always a pleasure 👊🏿
I was in the market for a Porsche. The dealers wanted 60% over MSRP and then sold everything to flippers making the price 100-200% over msrp. It was insane. My money is just sitting in the market waiting for prices to plummet as lending continues to dry up.
I think Rolex are holding off so much to boost Tudor sales and get the Tudor name out, once it is rather known / popular I think Rolex will “ open “ up more. Have a BB41 and GMT Tudor and both fantastic.
$100 watch or $100,000 watch, everyone gets 24 hours a day. No more, no less. Buy what you can afford, buy what you like. It’s better to have substance than style.
I think you’re missing out a crucially important customer group-the middle income earners. The ones that have mortgages, multiple car families, kids in teens or university age. Now paying high petrol and insurance costs, high energy bills, whose fixed mortgages at less than 1% now going to 5%. And the ones who would have been looking at their first Rolex or Omega, priced out of making that purchase because of rising cost and year on year prices going up by these brands.
I especially appreciated your comment about about those only buying "hot" watches not being the ones with true wealth. If your watch needs to give you a return you can't afford it.
Watch market is down, inflation is up, economy is down. People don’t have money to buy luxury goods, only necessities. It’s the end for flippers and business owners will struggle to make money.
I have been to quite a few watch auctions. People have been dumping their collections, hoping to escape. About 12-15 months ago, the £ was in a bad way. Almost everything was knocked down to the internet. Recently the auctioneer rings the watch round the room, to get close to the lower estimate, hoping for 1 genuine bid. The number of "not sold" screens is shocking. The watch market went bat shit crazy. Now I don't think anyone knows where the support point is. This video reminds me of estate agents bragging that they are doing well, in a tough market. Then 3 months later, their shop is boarded up. I don't believe this man. I think his business is struggling.
There shouldn’t even be talk of a watch market .. they are not an investment class. Never have been and never will be. There was hype during Covid where everything went up. This doesn’t mean it’s a market. They are just luxury goods that cost far more than they are worth and will all lose money except for a choice few. Give it up already and just buy what you like and wear it …
@@classlessbozo317 I hope no one had went and even paid to go to the London watch fair. The website was so misleading with brand logos everywhere tricky people thinking brands like Rolex has a booth there. I actually DM the organisation and they told me you should see a dealer selling Rolex there. TBH is misleading marketing.
@@russellis6993 watch collector for 30 yrs here. I qualify as an "investment" when back then you buy a Sub brand new, wear it for 10 yrs + (look after it), you will get your money back or make some money when you sell it (so you worn it for free), not those 5 to 10x return in the last 10 yrs due to the low interest rates we had been seeing due to GFC
2024 will be even worse. Just wait till the Anthony Farrer case is underway. A lot of these shady deal will be brought to light and less people will go grey now
Fantastic video and I always enjoy your content. I will say… there are still a lot of watches I’d like to buy for a certain price but their prices haven’t really fallen. Breitling pistachio chrono, Rolex 16610, Tudor polar chrono. Would like to see these drop more.
More sense from someone who actually speaks the truth.. The one good thing to come out of this whole price fluctuation is that the person who wanted to buy a Rolex to wear like Hans Wilsdorf intended can actually do that now👍🏻
I will never forget this guy. At the point when this market turned, he was trying to hype things up saying he is still buying and he doesn’t believe the market trend will change . He could be taking facts now but he was for sure wrong then . I can put a link to that video if u guys want 😂
No need to put a link. My videos are still easily found. Are you blaming me for believing in what I Do? Ofcourse I can get something wrong. I'm not going to cry about it. I adapt and move on. Yes I made a prediction that came out to be wrong. I don't see anything wrong with that. It's called a prediction. But thanks for pointing fingers, really appreciate the support. I still believe if what I do and believe that better days will come. The main question is when? Until then it's a buyers market.
In the UK half a million homes come off a cheap fixed price mortgage this Christmas, and 1.7 million homes will have expiring fixed price mortgages in 2024, there will be even less disposable income around next year, expect things to get worse before it gets better, I predict watch prices will drop further in the UK.
While the housing market looks a bit bleak, it's worth remembering that there are always opportunities. Collectors will want to free up cash, which means more watches in the market. The prices will adjust accordingly. Those with money and a desire for horology will buy them. Not everyone has large mortgages and not everyone wanted to buy during a hyped market. Now the market is settling we will probably see those people stepping back into the market place.
@@disgruntledoflondon Yes that has been happening since the summer, if someone seriously wants a 15k+ watch and they have the opportunity for getting it for now 10% to 20% above list on the grey those are the deals which are happening now. But true collectors are a relatively small part of the mass market, remembering most people only have one watch, and this might be say a Rolex which they have worked and saved towards and bought to celebrate a life event, those are the ones which will either defer purchase or buy a lower brand when times are tough tough. Yep I don't have a mortgage, and my business is doing extremely well off the downturn, so I'm looking to buy more assets and toys on the dip. But taking soundings across the sectors we work in I think we are still a long way off the dip - Q3Q4 2024, the people who have come into watches in the last few years have often overreached themselves either on cheap money or pandemic savings and considering the number of middle management job cuts that are happening across the UK but is going relatively undocumented in the mass media, there's a general sense of pessimism for high ticket spending when prioritizing should be towards bills, just look what's happen in the new and used car sectors, premium, luxury and electric dropping like a stone, small old city cars up. Let's not forgot with the figures which have come out this week, the last quarter was negative growth, if we get another negative quarter we're in a recession. The number of watches being offered on international watch sites has nearly doubled since March 22 as people have been releasing stock, the grey dealers I know are complaining about stock not moving, so it's not just investing in stock in a falling market they don't want to have cash tied up in static stock.
Hmm Well, I sell watches at fairs and have actually sold as much the last 6 months as I did 2-3 years ago. But of course, I never had any stock of the newer models of Rolex, I concentrate on vintage, with some newer watches but generally much cheaper than Rolex.
Amazing. Glad you are doing well. We also stock more vintage that modern so the effect hasn’t been as bad on us. The majority of our modern watches are also non hype models so it does help a lot.
It’s interesting to have a look at the inflated prices on the Rolex CPO websites - no fall across the board there in recent times, all of their prices remain super high and totally ridiculous in my view. Maybe only Rolex can still afford to be unrealistic in a buyers market.
You hit the nail on the head. A lot of dealers got use to easy sales took it for granted instead of making relationships during the high point they took the profits instead. I see the difference in the groups I’m in now tone has changed.
Hard work unfortunately doesn't work anymore.. you have to work much smarter as well. Being a bricklayer (very hard working profession) can't help you raise a family of 5 (you can 50 yrs ago) but now you need to own a bricklaying company to possibly raise 2 comfortably.
Hey David, For this week's Q&A, I'd love your thoughts on a slightly different take on luxury watches. Let's say someone wants a timepiece that subtly but undeniably conveys their success, a watch that speaks volumes without needing a single word. Budget is $10,000 to $100,000. What are your top 10 picks for watches that exude that "I made it" vibe?
Like them or not, Tugger Tony and Roman Shart really effected popular opinion on watch brands. Would Vachero have released there attempt at a hype piece if not for the popularity of their YT channels?
Perfect summary David for QandA can you share your thoughts on the Sky Dweller steel blue dial ? Difficult to acquire this watch would really value your opinion on its features
great vid. really liking this honest content a couple of questions that come to mind. 1) do you still have your daytona or did you sell it and make/loose money? 2) what are your thoughts on the harrods tudor being availble to buy directly from harrods
Thanks. I did sell my rose Daytona if that’s the one your asking about. I made a profit on it. Regarding the Harrods Tudor, I still like it and I still like the fact that it’s only sold in one store. I guess if it’s easily available then it doesn’t help the value of it but I still think it’s a cool watch and like the color combination.
AD's and secondary market dealers are now stuck with for the most part "Real" watch enthusiasts and not opportunists just looking to flip watches for quick profit. I am happy the market has taken this down turn, for me it's an upturn.
All this analysis is very good but if you go to a Rolex dealer He will tell you 2 things 1. We don't have this one in stock and hence please wait 2. We don't offer any discounts since we have a waiting list. Hence, pay the full value to us Whether in the short term you loose or gain on your purchase is purely your luck. Rolex has made it's profit and sold it's product at a premium and burnt a hole in your bank
Hi David, there are two Rolex’s that I’ve acquired from my AD in the past year - OP41 celebrations dial and the mammoth deep sea challenge. I absolutely love both of them. Would be grateful if you can make a video on both watches commenting both on value retention and in general what you think of them. Many thanks for your wonderful videos 👍
THANK YOU THANK YOU THANK YOU. I HAVE SENT THIS VIDEO TO EVERYONE I KNOW WHO IS INTO WATCHES. THIS IS SPOT ON. IVE BEEN SAYING THIS FOR THE PAST 60 DAYS. IF I AM EVER IN THE UK I WILL STOP BY AND SAY HELLO.
Hi David, Do you know why Ebel went from being a sought after watch brand in the early 90's , to practically being unknown of in this day and age? What's your opinion on the brand? Do you think that some of their vintage watches are now underrated for what they are selling for? Can you ever see them back in demand. Thank you Ex customer of yours, & Ebel watch owner
Word - thx D. for being honest with the truth that no one wants to hear esp those contrary to your biz. U hit it on the head that others want to say it's normal, cuz they r as you said resting on their laurels and don't want to work for it. Thx again!
Finally we will be able to buy Rolex. It is normal that the watches go down, the crypto and stock market is accumulating before a bull run. Then people will buy watches and cars again hehe
The first thing is to not treat your customer like beggars, begging to spend $10,000. I was told I have to get a credit check to see if I’m worthy to buy a Rolex. They said I still have to have a credit check even if I pay cash for God sake it’s just a watch you think it’s the cure for cancer.
yes im one of them but 75% of ppl that was baying watches are out of the market now and at list for the next year or 2 and thats why watch will continue to go down@@Mr.Khalil08
It's completely pointless to go to the Rolex AD at this point since you will never get a popular reference like the Daytona, Pepsi or Batman and everything else is already bellow retail on the grey market. The Rolex ADs are catching the last lollypop suckers and window lickers to sell them that two tone 31mm datejust with diamond dial at a retail price. While in reality, you can find 75 Rolex references at bellow retail price on the grey market. The watch market is dead!
Yep. The thing is how do you get a new Daytona from the AD at retail without buying anything else….i bought me 116520 many many years ago, it was an easy transaction. No game, no wait…,but now it is a game just to buy an Explorer II Polar.
Hi David, what's your opinion on the goings on with some grey market dealers do you think they have bastardized the grey market and put the trust your business needs so much at jeopardy cheers
Thanks. Will be doing more reviews. Just my friend that used to do the videos with me ended up leaving due to the birth of his 1st baby so I ended up not posting for a while. Now I have my other colleague helping me so I’m on a roll again 👍
I was just on your website. Just a suggestion that you have a filter for the models. I want to look at daytonas you have for sale and dont want to trawl through all the other models. BQ watches have a system like this.
Note taken thank you. Currently if you press on Rolex in the main menu, you will have a drop down of models. You can also use the search but thanks for the suggestion, I’ll forward it on 👍
Same thing with the car market. The walk in market is over, time to earn that sale for real. I don’t feel sorry for neither the watch nor the car market.
How about why factory set is preferred? And if there is any technical differences in the setting of the precious stones? Thats always made me wonder...love your channel 🤘🏾💯🇦🇺🇦🇺🇦🇺🇦🇺🇦🇺🇦🇺🇦🇺🇦🇺🇦🇺
Amazing question, I’ll definitely include this question in next weeks video. There is a huge difference in quality of the stones used, precision of the setting and how the stones are matched. I’m very excited to put this into a video next week. 👍
Auction houses charging 34.9% commission to the buyers is greedy. I refuse to pay that, 25 % was normal pre covid. I used to buy from Europe but Brexit has killed that so , regrettably ,I no longer spend my disposable income on watches.
Love Omega! Always get treated well, and a lot better then Rolex. You walk into omega they greet you offer you drinks ect. Teach you about the history of omega what watches have come into the market as of late ect Rolex you walk in nobody even looks at you! You have to go to them and when you ask about a watch they laugh I used to be a big fan of Rolex but every since the market exploded I honestly can’t stand them
I think that all the bad publicity the secondary market has suffered on social media and video channels has not helped either. Ex or non watch dealers emphasising theft, fraud and basic dodgy dealing do not leave a good taste in most people’s mouths.
I don't really care about Rolex watches,although I do like some of them. Watches for people who don't know anything about watches,just status symbols! £50,000 on a watch! I would put that in stocks and shares,and property,or gold,bonds etc. I have done this and buy my cars and watches from my profits from my investments,to preserve my capital. I tend to buy Limited edition watches which have increased in value. I don't particularly like the Daytona. There are some beautiful watches out there that are not Rolex!
So you put your money in stocks, and then go ahead and buy a car with the profits (the most depreciable asset you can buy). What is the difference of just buying the watch you want, even if it depreciates? You are only thinking about watches as an investment. Also, if you disregard Rolex as a watch brand, you obviously know little about watches. Watches wouldn't look like or be like they are now without Rolex.
The fact is most watches are still over retail. But retail can’t sell shit. So why would I buy a used watch over retail? I also don’t like the AD games so I won’t buy from them. Either direct from manufacturer or I can wait.
Not enough rich people to keep these manufacturers afloat! Most of them don't even collect...you need to get out in the real world! It's always been upper-middle class and middle-class people buying, like there is no tomorrow.
This video is more of a general comment on the market if you are a watch trader. Comments and advice all about where the dealer market is. I understand you placing ROLEX in the headline to get clicks, but really disappointed as there was nothing on the specific Rolex brand / range / availability / price trends etc as the header teased. You know your business but this was just click bate. Very misleading.
I know the Rolex watch market is dead, I’ve managed to buy 3 Rolex’s from 2 ADs, without any history of spending with those ADs!….i could of bought a fourth watch, but I declined it as it was bi metal!
@@Sophie333C : well, yeah....datejusts. They were always available. Try that with a GMT. Nothing against the DJ, I own one myself (36 black dial 3235 with jubilee) and love it.
Not strange at all. Been doing this for a long time. Only had easy money through the last 2 years everything else was hard work and it’s hard work again. We say easy money but not really. If we didn’t work hard before then we wouldn’t have had stock to sell through the so called easy period. Hard work pays off, some times quick and sometimes takes a while.
You are welcome anytime. Today I might not be in myself due to family matters but tomorrow I’m onwards I’m definitely in. Shop is of course open as usual.
