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Laughing gravy

Rolex window shopping

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I met a client who was sporting the Kermit variant of the submariner.   Green bezel black face.   He is involved in the murky world of car finance and had a contact who sorted him out with the occasional time piece.  No idea what he paid for it.  Would this be a standard submariner ?  I saw some in the Trafford centre around the £13k mark yesterday.  Are people really paying massive premiums for simply a different colour scheme?  The hulk. Green and green was also for sale.  Same sort of figures.
 

 

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People would be paying massive premiums on watches with artificial scarcity... The main people paying it are the dealers though. 

Recently a lot of these watches like batman GMTs etc took a bit of a hit in value as it was realised that the public aren't going for them so much, they are traded between dealers and sitting there unsold in many cases. 

I don't really know what to make of any of it, even a standard Sub seems very suboptimal if you are looking at bang for buck, but the market likes them and Rolexes seem to retain the value...  Then in a different colour it becomes even less bang for buck... Hard to justify even if the market says so, my own internal measure of value screamss "no way!"

 

Edited by Daveyboyz
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34 minutes ago, Laughing gravy said:

I met a client who was sporting the Kermit variant of the submariner.   Green bezel black face.   He is involved in the murky world of car finance and had a contact who sorted him out with the occasional time piece.  No idea what he paid for it.  Would this be a standard submariner ?  I saw some in the Trafford centre around the £13k mark yesterday.  Are people really paying massive premiums for simply a different colour scheme?  The hulk. Green and green was also for sale.  Same sort of figures.
 

 

In answer to your question Yes there are people prepared to pay double RRP on some Rolex models...The Rolex market for the past 4 years is experiencing an unprecedented Demand for what some would say Luxury products all being fuelled by new overseas markets and of course Social media/ forums and self proclaimed YouTube experts.

As for the LV and Hulk models this may help explain why collectors and the like are prepared to pay massive premiums for that must have piece.

https://millenarywatches.com/rolex-submariner-16610lv-kermit/

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1 hour ago, Laughing gravy said:

I met a client who was sporting the Kermit variant of the submariner.   Green bezel black face.   He is involved in the murky world of car finance and had a contact who sorted him out with the occasional time piece.  No idea what he paid for it.  Would this be a standard submariner ?  I saw some in the Trafford centre around the £13k mark yesterday.  Are people really paying massive premiums for simply a different colour scheme?  The hulk. Green and green was also for sale.  Same sort of figures.
 

 

Yep, I have had a look on line and this is true. It's about supply and demand. I find it all quite strange, as I find the Submariner quite boring. Different strokes I suppose 

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1 hour ago, Speedy112 said:

fuelled by new overseas markets and of course Social media/ forums and self proclaimed YouTube experts.

This mostly.

I have said it before and know it for a fact many watch forums are riddled with closet dealers artificially inflating the prices on the market to make a tidy profit.  
 

Social media is the main source of information these days and what better way to inflate the market than endless threads, price increase threads, how much can I make on.... etc.....

Rolex have always been a good go to watch where you don’t lose a chunk of cash but when you see a DJ or oyster perpetual that only a few years back you could get 5-10% discount you know someone is out there fiddling the market.

Wind back a few years and the Daytona was barely looked at now people are getting conned into paying up to double the price on them.   Few years back I asked about an aquanaut and was told there may be a few months wait, I left the shop saying thanks I’ll leave my number then.  Within half hour the dealer called back saying he would get one in.

The closet dealers have created a market based on stupidity and greed and the delusion of hoarding loads of overpriced watches your going to make a massive profit.  
 

Pay 20k for a pre owned Daytona and hope to God there is not a downturn in the market or pay 4K for a pre owned Breguet type XX.

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5 minutes ago, ZenArcade said:

This mostly.

I have said it before and know it for a fact many watch forums are riddled with closet dealers artificially inflating the prices on the market to make a tidy profit.  
 

Social media is the main source of information these days and what better way to inflate the market than endless threads, price increase threads, how much can I make on.... etc.....

Rolex have always been a good go to watch where you don’t lose a chunk of cash but when you see a DJ or oyster perpetual that only a few years back you could get 5-10% discount you know someone is out there fiddling the market.

Wind back a few years and the Daytona was barely looked at now people are getting conned into paying up to double the price on them.   Few years back I asked about an aquanaut and was told there may be a few months wait, I left the shop saying thanks I’ll leave my number then.  Within half hour the dealer called back saying he would get one in.

The closet dealers have created a market based on stupidity and greed and the delusion of hoarding loads of overpriced watches your going to make a massive profit.  
 

Pay 20k for a pre owned Daytona and hope to God there is not a downturn in the market or pay 4K for a pre owned Breguet type XX.

So, in fact you can lead a horse to water, and make it drink.

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56 minutes ago, Mrs Wiggles said:

Yep, I have had a look on line and this is true. It's about supply and demand. I find it all quite strange, as I find the Submariner quite boring. Different strokes I suppose 

The Submariner is one of the most flipped Rolex watches from what I have gleaned.  A lot of buyers fall in love with a watch they have never tried on and once they have it, the lustre is not there. As mentioned above , a few dealers have been hit by sliding demand for watches at 200% of RRP ( surprise surprise ) and a couple in the Burlington Arcade will not give anyone a serious buying price for a Batman currently .... and a couple are not taking in Daytonas.

Regards "boring", I tried one and instantly liked it , but did not love it because personally for me it was too old fashioned. But many like that and i do get that.

The supply and demand thing has been done to death on here but the only really plausible explanation I have heard about why Rolex have completely ****ed up their fulfilment of steel watches is due to poor reactions to getting hit on the gold futures market a few years back. Its all hearsay and rumour I guess but the commentator who was putting forward that theory was actually one of the commodity brokers who had dealing with the Swiss watch industry so it made my ears pick up. Supply also gives this story legs because you can still get precious metal Rolex watches with no wait and they are produced in numbers that exceed SS.

8 minutes ago, ZenArcade said:

I have said it before and know it for a fact many watch forums are riddled with closet dealers artificially inflating the prices on the market to make a tidy profit.  

The CEO of one of the main UK ADs said exactly this only last week....:yes:

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26 minutes ago, JonnyOldBoy said:

The CEO of one of the main UK ADs said exactly this only last week....:yes:

someone has to level the playing field after what @BondandBigM has done to damage the good reputation of Rolex. 

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14 minutes ago, JonnyOldBoy said:

The Submariner is one of the most flipped Rolex watches from what I have gleaned.  A lot of buyers fall in love with a watch they have never tried on and once they have it, the lustre is not there. As mentioned above , a few dealers have been hit by sliding demand for watches at 200% of RRP ( surprise surprise ) and a couple in the Burlington Arcade will not give anyone a serious buying price for a Batman currently .... and a couple are not taking in Daytonas.

Regards "boring", I tried one and instantly liked it , but did not love it because personally for me it was too old fashioned. But many like that and i do get that.

The supply and demand thing has been done to death on here but the only really plausible explanation I have heard about why Rolex have completely ****ed up their fulfilment of steel watches is due to poor reactions to getting hit on the gold futures market a few years back. Its all hearsay and rumour I guess but the commentator who was putting forward that theory was actually one of the commodity brokers who had dealing with the Swiss watch industry so it made my ears pick up. Supply also gives this story legs because you can still get precious metal Rolex watches with no wait and they are produced in numbers that exceed SS.

The CEO of one of the main UK ADs said exactly this only last week....:yes:

 Supply also gives this story legs because you can still get precious metal Rolex watches with no wait and they are produced in numbers that exceed SS.

 

Some of the Precious metal pieces are currently selling at double retail... the Green dial Daytona being just one but in general the Steel and Gold are available with reasonable waiting time's that's if you can convince your AD to sell you one... and the all Gold unloved pieces along with most Women's pieces are available at a small but useful discount if that's your thing.

The supply issue is interesting I feel once if ever these current hot pieces become available will the herd still want them..they only think they must have something that they cannot have but isn't that just human nature.

The "Collectors" pieces such as the different variations of the LV Hulk etc and the Daytona's will remain strong and sought after by the collector.

My local dealer will only buy in the current fad watches GMT's mainly with silly names.. only if they are at what he considers sensible prices which may disappoint the owner its a fast moving market with prices at present having a small correction downwards...  but the Daytona's Old and New remain at present strong but who knows where it will be in a years time

As @WRENCH says at the moment you really can "lead the horse to water and make it Drink"

 

 

 

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40 minutes ago, WRENCH said:

So, in fact you can lead a horse to water, and make it drink.

Depends on if the horse is a middle aged man with more money than sense :laughing2dw:

I mean seriously, could you dupe a horse into thinking buying a six grand watch will make them feel like a fictional character in a book or some kind of playboy Argentinian polo player :laughing2dw:

42 minutes ago, JonnyOldBoy said:

The Submariner is one of the most flipped Rolex watches from what I have gleaned.  A lot of buyers fall in love with a watch they have never tried on and once they have it, the lustre is not there. 

I have one and it’s a nice watch, the way some people talk though you would think it was made of fairy dust and unicorn horns and made by the elves of endor 

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22 minutes ago, ZenArcade said:

Depends on if the horse is a middle aged man with more money than sense :laughing2dw:

I mean seriously, could you dupe a horse into thinking buying a six grand watch will make them feel like a fictional character in a book or some kind of playboy Argentinian polo player :laughing2dw:

I have one and it’s a nice watch, the way some people talk though you would think it was made of fairy dust and unicorn horns and made by the elves of endor 

Don't spoil the illusion...You will be telling us next There's No such thing as Father Christmas...:thumbdown:..Just Don't I do not want to hear it...

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Anybody fancy a Batman

:biggrin:

49258181208_9a17fedb62_b.jpg

This shop had a later LV a couple or three weeks ago for just short of £14K and it’s gone

As for dealers just passing them around between themselves, why would they tie up that kind of money in stock they can’t sell, makes no sense. I regularly have a look in this place and nothing sits for to long

As @Speedy112 suggested this topic has been done to death with most commentators and the occasional tight @rses bumping their gums that have no idea what they are talking about.

 

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6 minutes ago, BondandBigM said:

Anybody fancy a Batman

:biggrin:

49258181208_9a17fedb62_b.jpg

This shop had a later LV a couple or three weeks ago for just short of £14K and it’s gone  

 

There’s a good sales lad in there who knows his stuff. Last time I was in I tried quite a few on and had a good chat for about an hour or so.

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5 hours ago, Speedy112 said:

Supply also gives this story legs because you can still get precious metal Rolex watches with no wait and they are produced in numbers that exceed SS.

I just received a Christmas catalogue, and it only offers some truly gaudy precious metal/stone offerings. So I only ordered three.

5 hours ago, ZenArcade said:

I mean seriously, could you dupe a horse into thinking buying a six grand watch will make them feel like a fictional character in a book or some kind of playboy Argentinian polo player 

Hmm, Hublot ?

TELEMMGLPICT000001901145_trans_NvBQzQNjv

The one on the left :laughing2dw:

Edited by WRENCH

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4 hours ago, BondandBigM said:

I regularly have a look in this place and nothing sits for to long

It would be more interesting to see where they went.

Edited by WRENCH

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4 hours ago, BondandBigM said:

Anybody fancy a Batman

:biggrin:

49258181208_9a17fedb62_b.jpg

This shop had a later LV a couple or three weeks ago for just short of £14K and it’s gone

As for dealers just passing them around between themselves, why would they tie up that kind of money in stock they can’t sell, makes no sense. I regularly have a look in this place and nothing sits for to long

As @Speedy112 suggested this topic has been done to death with most commentators and the occasional tight @rses bumping their gums that have no idea what they are talking about.

 

Post that image on a couple of other forums and you would have folk glued to the shop window like one of those Garfield toys.

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4 hours ago, BondandBigM said:

This shop had a later LV a couple or three weeks ago for just short of £14K and it’s gone

Would you have bought It ?

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Anybody fancy a Batman

49258181208_9a17fedb62_b.jpg This shop had a later LV a couple or three weeks ago for just short of £14K and it’s gone
As for dealers just passing them around between themselves, why would they tie up that kind of money in stock they can’t sell, makes no sense. I regularly have a look in this place and nothing sits for to long
As [mention=47440]Speedy112[/mention] suggested this topic has been done to death with most commentators and the occasional tight @rses bumping their gums that have no idea what they are talking about.
 
Well it would would it not? The real world bears little resemblance to forum life does it? Not much cash in the forum captive environment...it seems like a pub night for the morris marina owners club sometimes.

Sent from my SM-J320FN using Tapatalk

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5 minutes ago, Nigelp said:

The real world bears little resemblance to forum life does it? 

This.

In the real world , "punters" view watches in an entirely different way. 

Naive aspirationals will wear ANY Rolex if they want one .... Its only the WIS and "collectable" world that is still propping up the secondary market of idiotic pricing.

Rolex is a brand for old ladies ... the vast majority of their sales are small diamond encrusted datejusts ... Rolex ( allegedly ) sell 800,000 watches a year and given what you see in the display cases it does not take a genius to work out what they are selling by the truck load... and it ain't the sort of stuff some on here chit-chat about ... 

:thumbsup:

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This.
In the real world , "punters" view watches in an entirely different way. 
Naive aspirationals will wear ANY Rolex if they want one .... Its only the WIS and "collectable" world that is still propping up the secondary market of idiotic pricing.
Rolex is a brand for old ladies ... the vast majority of their sales are small diamond encrusted datejusts ... Rolex ( allegedly ) sell 800,000 watches a year and given what you see in the display cases it does not take a genius to work out what they are selling by the truck load... and it ain't the sort of stuff some on here chit-chat about ... 

Ahh yes the ones who went down with the Titanic like my great grandmas maid.

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1 hour ago, JonnyOldBoy said:

Rolex is a brand for old ladies

Often seen wearing a gold Datejust.

Old+Photograph+Crofter+Argyll+Scotland.j

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7 minutes ago, Nigelp said:

Ahh yes the ones who went down with the Titanic like my great grandmas maid.

Sent from my SM-J320FN using Tapatalk
 

Rolex. Founded: 1920,

RMS Titanic was a British passenger liner that sank in the North Atlantic Ocean in 1912.

Amazing. Any relationship to H. G. Wells ?

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