A lot of "normal" watch collectors are turned-off how the hobby had become. Even walking into an AD has been off-putting to me, from snobby / arrogant ADs to making appointments into an empty store. I'm not buying anything anymore until i get treated like a real customer. If that time never comes then so be it, happy with what i have.
Flippers totally ruined the market for people like me who buy watches simply because I enjoy them. Actually they just ruined it for everyone whether it's business or a hobby. Great content Eric!
I respect your perspectives, just remember, if it was not for them, we would never have the unlimited buying opportunities we have. I recently moved to Costa Rica. There I just picked up the new Sky King, and a Explorer for the sake of another piece I want. I do not do business with CRM because I would be killed in taxes.
The federal reserve is going to keep raising interest rates which is going to suck liquidity out of all markets So we have not seen the bottom of the watch market yet just like we haven’t seen the bottom of the stock/crypto/housing market either. Personally I can’t wait so I can buy a watch that’s not ridiculously overpriced
I'm looking to get a cartier santos under 6k and a black no date sub pre owned for atleast msrp. They came down to about 12k right now. It'll come down further when inventory floods the market and people come off the ad waiting lists.
Appreciate the honesty Eric. I think you’re one of the few (the one?) in the YT Watch community who’s painting an accurate picture of the market. No hype, no games, just an honest assessment. Thanks E!
@@slurpieassist8832 he is saying it’s not an investment. He clearly says that it used to be normal to loose 20%. That it’s not like Bitcoin in the sense it’s not the norm for watches to just shoot up in value so quick like crypto.
Someone once said "Only when the tide goes out do you discover who's been swimming naked." Apt here in context to the flippers who have, in my view, been such a negative to the watch collecting community. Eric's restrained elation now the tables are turned was super cool! .
Eric, as a watch enthusiast and someone that still has his Omega flightmaster since age 14, the price drop doesn’t mean much. In fact i welcome it. Why? Because the watch market swamp is clearing out. As watch market get back to “normal”, someone that gets a grail piece, he or she is buying it because they truly appreciate it for what it is and not because as a mean to profit. For a while I was not getting the satisfaction of wearing my Pateks or Rolexs. I thought i may come off as a pretentious temporary custodian of that watch. That’s why in the past few years i went for not so well known pieces, and tried hard not to follow the hype. It was also easier on the wallet. You could still get a trilogy Swiss brand at a reasonable price. As the market settles in to a more organic and normal rhythm, if I see someone wearing a special piece at a coffee shop or restaurant, I will feel a lot more comfortable to compliment them on it knowing the recipient will truly appreciate the gesture instead of right away talking about what a great investment it is and how much it has appreciated since they bought it 6 months ago. Great investment to me means 20 years down the road you can still enjoy holding it and remember special moments wearing that particular watch. Fond memories and enjoyment of living them is what matters. Now that’s “time” well invested. Thank you as always for keeping real. Cheers!
@@JuanAlvarado-mp3udThank you for your comment, Juan. Glad to hear that. It is my most precious timepiece for sentimental reasons and it also happens to be cool watch. BTW, just an FYI, Omega’s flightmaster is only in lower case. Seiko’s is Flightmaster. Just a little tidbit I thought would be interesting to share. Cheers!
Well said, I've seen other yters talking out of the side of there head,lies, and a rabbit it the headlights look in their eyes, I feel for people that will be disappointed with their watch. As many all ready put pound signs on car,boats,and house's. This is not anyway near ending with everything.
Spot on! It's sad these days when most you see in RU-vid are people/gray dealers screaming out prices and not about the merits of the watch itself. It's become a bragging contest for showboats when in reality those who don't scream can actually buy those pieces but simply refuse to be dragged into the same "stereotype" nowadays. And that's why I think Eric was also spot on everytime he talks about the speedmaster professional. Bec it hasn't been a "victim" of the recent "flexing phenomenon ".
We havent reached the floor yet. The real floor wont happen till next summer. Dealers just selling to other dealers just pumped the prices. Tons of Grey dealers are going to close up shop in the next 12 months. They took alot of PPP money to buy inventory now they are going to feel the pain
Great post. Anyone thinking this is going to be short downtrend then a V shaped recovery is deluded. The only question: will the big players in the grey buy up the minnows stock?
@@WestCoastAce27 absolutely the real deal dealers will stay in the game. They have the retail clientele. Eric has been in this since the grey market was cheaper than msrp.
The whole video just to suggest that “Watch Eric” isn’t simply a watch-flipper himself. He’s not an authorized dealer of Timex, let alone any of the brands he flips. It would be awesome to see Manufacturers do serial number audits and excise these parasites from the market. Rolex did this in the early 90’s and it’s about time they all clean house of all these people in the “watch game.”
I don’t think we have hit the floor. You’re absolutely right on every point on your video. I’m happy to see the market flushing out many opportunist actors.
@@duffs2002 Actually I think we are near the bottom. There's still plenty of demand to buy unobtainable watches at retail for the most part. As long as this demand and unobtainability exists the secondary market will remain fairly solid. Have the prices come down on this correction? Sure, but I wouldn't want to wait too long and then see prices go back up again and miss out. I think right now is a great time to buy on the secondary market in my opinion.
the market will go down slowly, at least for the next 2-3 years. A lot of COVID-watch "enthusiasts" will find themselves losing interest eventually, apparently chicks who like showing off sports model on their 5-6 inch wrist will give up wearing once the hype fades. Flippers, more than u know, will cash out as long as they can sell higher than their purchased price, and cash back in the stock market, given that stock rebounds quicker than assets. Supply is gonna flood the secondary market, and AD will hv no choice but to distribute to real customers who have purchase history when more flippers stop buying.
The market is cooling but I think it’s this winter when we see things really slow down after the fed rate takes a few more rate hikes. Money isn’t cheap anymore and those who bought watches with large lines of credit are going to feel it.
Some brands may appreciate in value but for rolex they will go down further as many of them are in the hands of a few individuals who bought them in bulk to resale at stupid prices . Clearly they are still holding them in safes hoping all will be well and by the time they wake up to sell they will be facing serious losses on those watches
No, we haven’t reached the floor yet. Ordinary buyers (not just dealers, flippers and watch enthusiasts) have noticed this price correction and are not buying. I would say those overhyped and overpriced pieces will drop by another 20%.
@@WristHunt Yeah. Just as with anything else, the overall market corrects, consolidates, then resumes the trend upward. The appreciation of watches is typically slow and steady over decades. The psycho price increases of 2020-2022 were a monetary phenomenon. Something that happens maybe once a century or more. It wasn’t ever so much a genuine “supply chain” or supply-demand issue, as it was the result of quantitative easing (i.e. money printing - the dilution of the purchasing power of the world’s reserve currency)
@@WristHunt if things keep getting worse (which it looks like they will) I am pretty confident that we will be seeing stock back at t AD windows by October-November of this year, certainly not a Daytona, Pepsi or Batman but most of the rest like datejusts, regular color oyster perpetuals, explorer 36mm, sea dwellers, milgauss will be available.
We’re nowhere near the bottom, it’s going to get way worse before things stabilize. Dealers, flippers and watch collectors are going to need cash due to the economic conditions and will flood the market. At the same time buyers are disappearing and prices will be forced down by simple supply and demand. Many sellers, few buyers. Happening in real estate, crypto, tech stocks, and yes watches. Those who didn’t buy bubble assets and kept their powder dry will be picking up hard assets at deep discounts.
I own a small resale store in Missouri. I see things change before they happen normally because I live in a depressed area. Once you see the real-estate crack, that is the beginning of the end. The way I do business is, absolutely every thing inventory wise that comes through my door is already paid for. I owe nothing to nobody. If I need to close down for a month or two, I just close down. Granted my inventory only consists of about $350-$450 K depending on the month, Is still paid for and im just a one man show. Good luck to everyone who has been burned by this down turn in the market. I really do feel for you guys. One thing my father always said was "steady wins the race". He was a stock broker for years and saw a lot of ups and down. Peace to all. Eric, This was a good video even it it hurt for some people, I needed to be said.
I've lost interest now. Was never into watches until maybe about a year ago, been wanting to buy my first Rolex for the past couple months but can't even find any at my local Rolex store due to flippers. I will not pay 1 penny over retail. I'm not in any hurry, I will take my time and buy from Rolex only. If I can't find one then it's ok too since I've never own a watch before.
This is how I feel wanted to buy a submariner or yacht master but might just buy a Tudor gmt because it’s acc stupid I’m not paying 5k over retail that’s just dumb
I just entered the market to buy a Rolex, but with these high prices, I went to Breitling and Omega. Rolex watches I was tracking 2-3 years ago are now $5,000 or more for the same watch. No thank you. I have been waiting for the time to go for the prices to decrease.
You can still buy a Rolex piece (if you can find one) at retail. That's still good price-wise. In regards to the secondary market, now is the time to buy as well since prices are low. You just have to buy at the lowest price possible and you have to decide what pieces are more likely to do better investment-wise. You have to look at the opportunities when they come. The market will go back up. No question about it.
I’ve been following a few popular watches on the secondary market. A couple has undergone multiple markdown but prices are still outrageous. Some are holding.
I dont see how the flippers will lose money, they bought at retail and most watches still are selling over retail (Rolex). The people with the real problem are the dealers who bought lots of stock and now have to slash prices to get rid of it.
Thank you NM. Thanks for your common sense. Also many dealers are using the so called drop to buy cheap as possible at the same time saying the market will rise again by Xmas. The dealers are all working together as a cartel. Perhaps Dealers should've reduced their selling price instead of grabbing massive profits (You included too Eric) and become community workers like Eric hey??? Also since Eric talks about flippers like scum of the earth perhaps he should stop buying from them hey???
I don’t think flippers are going anywhere, where did the super flippers “gray dealers” get there watches from in the first place. If the flippers are out of business then gray market dealers are out of business.
@@roller2982 Bloody hell at last someone speaking common sense. Where do people think watch Eric gets his watches from as well as directly from the AD’s. People need to wake up!!
When I started seeing Panda Daytona’s at 50k, I became disappointed with the hobby that’s my all time favorite watch but there isn’t anything special about that complication. So seeing the market nose dive like this for a guy like me who is in it for the love makes me and many others like myself snicker
@@vktravellog1242 Some people collect watches, I collect cars. It's kind of idiotic to buy a Rolex watch for $50k that costs less than $900 to make. Why not buy a porsche gt4 track day car for $120k and costs $80k to make? From a business perspective, I just can't justify splurging on something just for it's marketing. You can easily fake a Rolex, it's hard to fake a GT4.
Honestly you have to be stupid to buy Rolex at these ridiculous prices still . Flippers were buying them in bulk to resale them at crazy prices creating an impression of very high demand when its not the case . if you noticed AD are now calling customers much often because their grey market dealer friends are now stuck with losses . i respect this man for being honest !
@@msbrownbeast yep fuck em. Everything has to be a flip or an investment now. Fine make your money where you can, these bastards murder the market for proper enthusiasts though. Must suck working hard and saving for months or years to buy your dreams watch only to have some twat snag it and throw another £10k on the asking price.
One thing Watch flippers and crypto bros have in common. Both ignore the FED. The FED dictates the markets and the FED is about to burst the everything bubble with hiking interest rates. The only way for watches and everything else to go up, if they stop hiking, which is also very possible since the FED could trigger a recession. Fundamentals are important, not if a watch will be dicontinued or if a damn crypto will go to the moon.
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1) Sites like Chrono24 have thousands of used luxury watches just sitting there, not moving. 2) The price floor for a good condition used watch is, at the very least, the retail price of a new one. I suspect you'll be seeing stock in your Rolex AD within a year or two, like there was a few years ago.
Is that why I’ve been seeing retail prices on online retail stores cut by up to 50% on new watches? I just got a brand new beautiful Seiko orange/black automatic for a gift for a friend for $200. 30% off msrp. And yes, I forgot the model.
@@bikeman123 I understand that, I just wanted to know if that’s why the msrp prices have been slashed heavily on other brands NOT the big 3 (rolex, AP and Patek). And some of the big 3 with listed prices are getting their MSRP slashed as well by 15-60%
Thx Eric for the Truth! Been watching you since 2015 and in the game since 2012. Never sold any of my watches, but as a small Collector who wants something for big life achievements, the last years were crazy and filled with obnoxious “watch non-lovers”. Hope it gets better!
At last some honesty . . . . . . . Thank you Eric. We are all so bored of these grey market dealers trading between each other acting like superstars. In fact were the real private owners ever paying 2, 3 or 6 times over list ?? It’s the crazy new watch dealers that are finished. Pretending they know the industry when they can’t even fill out a tax return !
Absolutely a honest video. Thank you. No BS, no sugar coating just facts that we all see in the market. I am not sure how much it will change in 6 months because all AD Rolex and Patek still don’t have watches to sell. May take longer for flippers to stop and supply to increase. It is good to see that watches at grey market are coming closer to reality and normality. If everyone predicts this is not getting over anytime soon. Job lay off in mortgage companies, good and services are coming and that will lead to less cash in market to purchase these. To all the AD who mistreated their clients hope they get to learn a lesson more than any others as watches may be back on their shelves with no one buying. WHAT also makes a difference in flippers are the grey market dealers who are not doing any business of buying like you mentioned
Well said. I consider myself a watch enthusiast and plan on passing down my watches to my kids. I pay no attention to what the prices are doing. Buy what you love✌️
Thank you for pointing out the artificial economy pump during Covid ✊ Great points throughout the video. Have you thought about branching out and discussing other topics?
@@WatchEric I can't wait to see what you have in store for this channel. Love your content on watches and the watch market. Feel free to throw a little Porsche content in there from time to time!
To those who have used credit to stock up on Royal Oaks, Panda Daytonas and Tiffany OPs, because you were speculating back in February that that the market was going to keep rising - holy moly I'd be bricking in my pants right about now ! Great honest straight forward insights. If the central banks keep jacking up their interest rates we are far from seeing the bottom of any market or asset class. The flippers and overnight sellers - these are the people who are over leveraged on their mortgages and also the loan/lease on the Mercedes or BMW that compliments the lock up garage. There is a reason why they need to flip - and now that this additional income stream has started to dry up, watch the flow on affect (this is when we will no longer be able to fill the cracks which are starting to appear in the real estate market).
Just to put in perspective how crazy the market has been over the past few years, I remember when Eric first covered the white ceramic Daytona in 2016, and at the time he said beautiful watch, but I wouldn’t pay 18 for it. While it’s definitely true that social media influencers have made watches more popular than they have been in decades, I always stood by my opinion that the main reason behind the bubble was the perpetual near zero interest rate environment. That has now come to an end.
It is wild. In 2016, I passed on buying a Migauss at $5000. Then people started realizing they could borrow cheap money to buy watches and it exploded. Is an OP41 really worth 15-20k?
Here is how I see it. I'm only buying for myself and every watch is a careful buy that I plain to keep for my life time. So having prices drop on some modles I love is definitely a boon for myself.
You are absolutely right Eric. Look at gold. A solid, real asset. If you bought gold in the year 2000, you would be up 9% / year for 21 years! That beats the S&P with dividends reinvested! Is gold down now? Absolutely. But like all, good, REAL, hard assets, they will appreciate with time and hold their value. And yes, I have been collecting Rolex watches for two decades, and I am not at all worried since I am playing the LONG GAME.
I knew the watch market was going to crash once a Tiffany OP sold for 40k 😂 Thanks for an honest video E! A lot of guys trying to hide what is really going on. We appreciate you 👍
Had the call from the AD Eric collecting my Air King next week, only had my name down for it, since the new releases where announced in April 👌I'm so surprised & also very pleased 🙏
I suggest you call the number of the store. That is a much more effective and serious way to inquire about any watch. That number also receives text messages. My apologies. Thank you
I got a call from a AD lately with no purchase history. Now is the time to build a relationship with an AD. This is fantastic time to get into the game. The past months were just insane, we’re just getting back to reality, that’s great.
Nice to see honesty from a watch RU-vidr again, and I agree with almost all of the point’s he makes, but the reality is know is not a good time to buy, wait another 6 months or till the fed stops raising interest rates. Great 👍 vid Eric!
The best part of this bs is that I’ve started to appreciate a lot of great brands I never considered a few years ago. I’ve bought a Hamilton, Oris, 2 Omegas, and even a Tag! All companies with great history I appreciate after seriously looking into them for the first time.
I’ve been holding out for this. Looks like us real watch enthusiasts will finally get what we want as opposed to the money making gremlins that are bailing on the watch market. What’s next for them, cheese collecting? I reckon so
Wow Eric awesome perspective that’s based on facts. I am delighted that the price are falling to where it needs to be . Flippers should panic they are abusing the system and causing all kinds of problems . I don’t think the the prices of watches especially Rolex will fall too far mainly because you can’t simply walk into an Ad and purchase what you like . The price will eventually increase but not that high
The only thing keeping some of them from financial ruin themselves is interest in the watch industry/market. Hopefully the herd thins and we are left with less rubbish online. THis channel here is good.
The watch price is going back to where it was before the pandemic. However, I do believe that it will start slowly increasing again around end of the year where people get some extra bonus to spend. At the end of the day for the watch collector if you are happy with the watch you bought the price doesn't matter.
These buyers had more money than brains. I think the 6.5 mill Tiffany dial and then the plastic speedy brought it all to light. I am waiting for the two tone submariner to become reasonable to me. I love it but not for 18-20k
Love the vid Eric, many valid points. As someone genuinely interested in the hobby for many years, I hope this correction keeps going. I knew the “market” was fucked when a dealer here in Aus listed a stickered panda for $100k AUD. What a croc of shit lol.
And now the dealer is fucked. Don’t know how much he paid for it but no way someone is gonna pay 100k for it. I can’t imagine paying over 100k for ANY Rolex, retail or secondary price. It’s just not worth it. For 100k I would rather go czapek, Moser, etc.
First and foremost, I love Eric's videos. he is the most REAL dealer (And Federico of course). Eric's Video on the 2020 OP had me sold. After watching it, I went to 3 or 4 Rolex ADs near me. I was placed on waitlists. I refused to pay $11-$12k resell for a $6.5k watch. In March 2022, after 4 month wait, I was able to get my Silver Dial 41mm OP @ RETAIL !!. Super happy with my first Rolex. I'm glad I was patient. I only want a Submariner with Date and I am Done with Rolex. I prefer a Speedmaster > Daytona
This channel is the only channel that I have heard the market is really down right now on these Rolex, Patek and APs. The other popular channel are saying yes there is a dip but they are still making gigantic profits. Hard to believe but they most of these dealers are still buying Ferraris, renting penthouses as their office, etc
Im that guy who bought $800K worth of watches last 2 years and im holding a fat bag forsure lol. but aye i got all my favorite watches atleast. i lost all of my previous profits and still down lol. but ohwell i wasnt one of those "credit buyers"
Great from Eric. He is one of the very few who describes really what is happening in the market now. His honesty and frankness to accept that the market was polluted by short run and short minded people who polluted the passion of watch collecting, real watch lovers. Most of those then high speculative items had no end users. It was just an artificial, insane value off the ground. Higher interest rates policies, worldwide, consequently, the end of "cheap money" will clean the place for many forthcoming months.
Great video and content. Crypto, watch and traditional markets have still not yet bottomed , imho. Whilst the FED is still hiking rates; high risk assets / luxury items will keep selling off. Yeah I agree some good watch brands are good stores of value. BUT, they will push down a little. No where near retail prices but we can come down more I feel. Especially once that “recession” is confirmed
Why not retail or less. Come on. Rolex are mass produced hype. As soon as things “really” gets tough and unemployment starts to rise the market will be flooded. Think I’ll call a few dealers tomorrow to get some sale prices on a few to see just how low things have got… because what’s advertised ain’t reality right now…
@@DigitalPRCoursesI certainly can’t see Rolex’s being at “retail and less” due to the simple rule of supply and demand. Yes Rolex make ~ 1m watches per year, but there is still way more demand on their products than supply as they’re one of the best brands on the planet. IMO.
@@jf6853 and how long you think that demand is going to last? There bank runs in China and huge housing market issues. Fed is raising rates fast in US and housing market about to blow there. EU economy is about to crater this winter. Demand is cyclical. Tons of used inventory that will come to market over the next couple of years… and Rolex will still want to sell new inventory. Prices are only going one way.
@@DigitalPRCourses this is what’s great about You Tube and a democracy. We can all have different opinions and debate which is cool! 👍 I also think big investors (and not just your retail investors) that will look for new ‘stores or values’ change in investment landscape - to watches etc. Now not just seen as a hobby / time telling piece of jewellery but that store of value (due to inflation) etc.
Having bought a few Rolex watches myself the problem isn't the flippers. The gray market dealers set the price when they buy and when they sell. WATCH ERIC didn't get an extensive and expensive watch collection by making a thousand dollars a watch. I still love your videos though.
I'm more of a vintage and neo vintage collector and have been wanting to add a transitional 168000 Sub to my collection and I'm now seeing them drop by about 20% from last years prices which is good.
Your honesty is refreshing! I don't believe the market is at the low point yet. I've been watching Chrono 24 and there were some crazy prices. The thing is I've seen some of them on the site for 9 months without selling at the crazy prices. I think the real market drop started further back than 6 months. Prices were high but end user customers were not buying. Now prices are falling fast. We have to remember one thing. Rolex makes a million watches a year, so 10 million in the past 10 years. That's more watches than Daniel Wellington! Lol. There's no shortage of Rolexes, only people holding them back to inflate prices and people aren't falling for it now. It reminds of the diamond trade. Diamonds aren't rare, they're as common as the ancient coal deposits they're found in. If Russia mined its giant stocks of diamonds, they'd be the price of a happy meal. Watches are similar.
Good post. But remember Chrono are listed prices not sales. Anyone who still has a job can still ask goofy prices for the basic Rolex sport watches (60% over MSRP - NFW) and wait it out. But with layoffs starting to pick up and 1+ yr recession guaranteed, things could get interesting.
Excellent video Eric. Bottom is DEFINITELY not in. Not until the Fed stops pulling in the punch bowl. When they've done enough destruction and have to start the printing presses up again all assets should start a rebound. How high will be determined by how much confetti they create.
Yep - long way down to go yet. Oil, Gold, Stocks, Tech, Bonds, Housing and Bitcoin (Yay!) - all off by 10% to 50% or more so far, with way more to go. Watches no different. By the end of 23 we'll be back below retail. Inflation and cost-of-living hasn't had the full impact so far. When unemployment starts to rise and people lose jobs and inflation eats away at diminishing savings then we we will see. Collectors buying from ADs who trust them and genuine dealers will all be fine, and we'll start getting watches again. Flippers and opportunist dealers, funding stock through debt, will get properly wiped out. Deservedly so. The market giveth - and the market taketh away. Always. Warren Buffet's greater fool theory says "never buy something because you think an even bigger fool will buy it in the future for a higher price". He was talking about BitCoin representing all speculative bubbles fuelled primarily by $3tn of easy-money QE. Sage advice. Excellent punchy analysis Eric as always. The watch YTs here in the UK are all smoking something. You're my favourite! Would enjoy seeing some actual price-drop examples for common models. Its not over yet - not by a long way!
My vintage and neo vintages are still going up whilst the hype watches are dropping. Seems that its just a few hype models that are getting dumped on but overall im 17% up this year on my 18038
Things haven’t cooled off unless these piece are going for what they were sold at retail. That is the true true value. Anything after that is just inflated prices because they’ve been hyped up.
What went too high can correct much lower. Like Eric said. It wasn’t only watches that corrected. If the broader market turns lower, look for watches to do the same. If China invades Taiwan, then the Chinese market will be locked out. If that happens, you will see supply showing up in the ADs and that means the gray market is toast. When you can buy at the AD, buying used will be lower than retail. THAT would be a big deal.
A watch that is hyped 100 % with no fundamentals to back up the hype, will go down 100 %. Wouldn't even remotely get close to any Nautilus, Aquanaut, Daytona or OP Tiffany. They're as toxic as can be.
I hope I can one day walk into Rolex, find the watch I like, and hassle them for a discount and tell em don’t call me I call you 🙏🏽. PS (I hope my AD is not reading my comment, I’m on a 5 year waitlist for a Yachtmaster 2 !)
Rolex themselves will not allow that to happen. They are watching and tightly controlling their watches. They are systematically shutting down some AD's and will ensure there is a scarcity
@@Eddymac1985 agreee! Never ever will you be able to walk into a Rolex and buy a steel sports again. Let’s not forget that steel Daytonas have been on a waitlist for literally the last 15 years. Not a new phenomenon
Eric, you are the first & perhaps only grey market dealer to talk reality about today's watch market prices! Many of the grey market RU-vidrs are still saying: "this is only a correction, prices are only down 10%, summer months always have slack demand, and prices will rebound around October for the Christmas season buying". There is an upcoming worldwide recession and consumers are focused on buying gas & food. I don't expect prices to go below retail, but if the flippers can't make easy money, and new watch dealers sell at a loss, then us the watch collecting community will be able to buy the piece we want to wear at an affordable price! For the record, grey market dealers do offer a valuable service, and it is good to see you are surviving this downturn. Although, I have not seen you driving your Porsche -- did you sell it?
10 years ago we couldn't give away stainless Royal Oaks at sticker, and now they're going for $50k. Anyone who buys an item at 3-400% markup in hopes of the market just going straight up and pushing it on to the next guy for 500% deserves to get stuck.
That’s ok. If the price drop, just wear them themselves. At the end, they are nice watches. Better than stock market, can lost money without having anything left.
When someone loses their job or needs money to pay their mortgage or car bill the first thing they sell is their jewelry and watches. Over the next year the market will be flooded with luxury watches tanking prices to under retail.
Q. What is a Flubber? A. A Flipper enabled by lines of (consumer) credit, attempting to move wildly over priced or even already negative equity inventory watches, into watch market that is essentially locked up with thin to no trading...all whilst interest rates continue to climb
That's the thing about any hobby. It's never an investment, ever. At best you get enjoyment out of your hobby and retain SOME money to put back if you upgrade to something new. The "flavour of the week" crowd just got ejected
They’ve not tanked they had corrected to the true market value, they have only tanked if you paid over the odds for the watch, I don’t think they have tanked in my humble, try buying one from an AD its nearly impossible, I agree the flippers have spoilt the market.
I got the call from my local Rolex boutique in roughly 60 days. I filled out an interest card with the spec I was looking for, and never heard from them. One day about two weeks ago, I stopped in and reminded them of my interest, and asked if they had anything yet. I was offered two Datejust on the spot. They weren't the options I was looking for, so I politely passed. Had many friends tell me I was an idiot for passing on a Rolex at retail, but I was fine waiting a little longer. Not even a week later, I get the call for the exact watch I wanted.
@@alinionita2614 no reason for me to lie lol. I will add that I have interest cards filled out at many AD’s in SoCal, and Las Vegas. I just got lucky that it was my home store (a Rolex boutique) that called me first, and obviously this was the first store I even tried. I’ve had my watch a few weeks now, still not a peep from any of the other stores.
