Rolex Prices Continue to Drop - and What You Should (or Shouldn't) Do
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- Опубликовано: 20 окт 2023
- Rolex, Patek, and AP prices on the second-hand market continue to drop. What are the implications for watch enthusiasts looking to buy or sell at the moment?
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Great informative video!
I was at an AD a month ago and saw some Rolex in the display mostly Day-Dates with diamond bezels and some other models. What is interesting is that I returned 2 weeks later and the same watches were in the case unsold but this time had Exhibition Only on them. This tells me they are hiding the fact that demand is down and most likely would sell those watches if someone was interested.
Thanks for the report - very interesting!
I imagine a customer would consider themselves pretty lucky if the manager of the store did them a "favor" and let them buy one of those Exhibition Pieces.
@@watchsymposium Yes you are right! Lol 😂
There’s no liquidity anywhere right now, nothing is moving.
I think it's hilarious people walk into Rolex AD's ... let them sit on these watches. The best are the Rolex oyster perpetual flippers lol
Everybody say it again with me, "watches are not investments."
Wear what you like, never look at the prices. If you cant afford the cost, it's a terrible choice and makes no sense.
💯
Yup. I have changed the mindset. And it isn't cheap to maintain each luxury watch, they will do all kinds of tricks to make us spend the money.
I'll say most watches are not investments, and it should be like that. Same with coins, same with stamps, same with Lego sets. Heck, most iphones are not investments, except the first ones still wrapped.
As much as I hate it for rolex owners, it really serves these snobby boutiques and ADs right. I'm okay with the value of my pieces going down if their business goes down with me 😂
Well said! The fact is that in business there is a pendulum effect as supply & demand adjust. I cannot wait to politely give the ADs a taste of their own medicine as demand continues to ebb to the collector's favor! I can't imagine the AD's competing for customers as the Rolex supply increases.
It’s not the AD’s neither
This is regards to the secondary or aftermarket, not to AD or boutique
I love Rolex and I love collecting watches, it was never about money for me. I hope I can finally buy a few grails now that prices are falling 🤞🏻
My advice to watch collectors has always been, only buy what you like then if it’s price drops it does not matter
If it’s price increases then happy days
Unless “happy days” are ruined by someone smashing your face in and breaking your arm for your now-expensive piece pf metal and glass.
@@thegorn well you should never live in fear which is one thing that I will never do
Concealed carry
Harley Davidson tried to use the same tactic and it backfired.
Yea except Harley motorcycles suck, where as Rolex watches are actually quite good.
@@EscapePlan97 Are they?
For the buyer, it is a good thing that prices are decreasing, so it's not getting worse, it is getting better 👍
I always wanted a Rolex submariner with stainless steel band but $15,000 - $30,000 is unrealistic. I'm happy with my $80 Invicta tribute and I am not the only one doing this.
We’re in the business of watches since 2018, and we can clearly see the drop of prices of hype watches such as Rolex. In fact, even though Rolexes have dropped, the reality is in the dealer markets, no one is buying or able to actually sell Rolexes. Most sales are really between dealer to dealer, and one indication the market is going to continue dropping as Austin predicted is this, if there is any stability in market, dealers will actually pay cash for Rolexes- and not consigning them. No one in the non watch world is really buying anymore.. 😊 My suggestion, wait for Rolex to continue to drop. It will.
Great insight and very honest of you especially being a watch dealer 🤝. What’s your predictions on the Rolex sprite can you see it coming down considerably more ?
Great insight, thank you
@@SILKY_999Are you looking for the watch to wear or as an investment? If to wear it then I would wait. If as an investment, then now is a good time to buy. Because you can find one stickered, full set with white hang tag. Later when prices drop and demand rises, it will be harder to find them.
Yup. By the way I have given up on Rolex after spending so much on one 2013 model which is more expensive than the 2023 same model. Life is short, I am enjoying spending much less on other brands with different styles.
I was a U.S. soldier in Germany in 1984, when I saw a Rolex AirKing (I think) in the Swiss shopwindow for 500SF (which I think was about $500 US). Adjusting for inflation and other factors, how is a modern Rolex worth several times as much as the 1984 version, when they're essentially the same watch? Heritage? Nonsense; Rolex is a good watch hiding in the emperor's clothes. And we all know about the emperor's clothes.
People have had enough of the Rolex hype, and also ADs selling watches out the back door to flippers. I can’t wait for the market to get back to normal, where you get a discount from the AD, and trust me this will happen. If Rolex are not careful, they could actually lose their customer base!
Except now I’ve had enough of ADs and instead buy microbrand, pre-owned (not hype watches), or Chinese homages off AliExpress. Greedy ADs - don’t come crawling back to me you slimeballs!
@@thegorn strange, my son has just been in touch, I’m going the ADs to pick up a Wimbledon, apparently I’ve got a choice of 2, strange times!
@@thegorn if you go into the ADs they have got the odd watch, I’ve just got the Wimbledon half an hour ago, and my x is also picking one up tomorrow!
We should see prices correct more than expected given the excess production
@@thegornha ha ha, Chinese homage watches. I wouldn't touch them with a ten foot pole.
Price drop "isn't good?" It's great. When Rolex prices drop another 20% I might even buy one. And all signs point in this direction. We have two wars going. Oil will breach $100/bbl. Fed will continue to squeeze. Recession will hit next year. We're not seeing the "end of the end."
Fully agree it’s great news and I hope it continues.
Yeah a recession will be wonderful as long as watches get cheaper. 😅
Y’all been stating a recession was coming since 2015. Stop 🛑
If you’re such a good economist surely you’d be able to land a job that you could afford a Rolex at any price
Global financial collapse? Can finally get a deal on a Rolex.
It’s all over. The watch market is only headed towards one direction for now and the medium long term. It’s only a matter of time watches starts appearing at ADs. Buy what you like to wear and not anything else
I bought a JLC, Breitling, TAG and Tudor from my AD. They know I’m an enthusiast. I asked about a Rolex GMT-Master2 and they said they could make it happen only if I bought a heavy hitting Lange. I’m like - please just put me on the list. Every time I went in there they’d look up what brands I hadn’t bought and kept trying to steer me into stuff like Cartier and IWC, which I have no interest in. I highly suspect that they are flipping a lot of their Rolex inventory onto the grey market and always tend to steer loyal customers into anything but Rolex. I ended up getting jack of the Swiss watch industry. I sold all the pieces I bought from the AD as I developed negative connotations with those pieces. Now I just have a Tudor I bought from a pre-owned seller and just buy Chinese and microbrand pieces now so I don’t have to deal with greedy AD bullshite. Win the battle but lose the war, they have. At least in my eyes. Fsck ‘em once they cross me, they don’t get a second chance - they don’t get me back. They can go to hell.
"They can make it happen"
They could 100% make it happen. Each AD gets around 50 GMT Master 2s a year. They're trying to see how much money they can milk from you and if you're a bigger tool than the other sad sap they have towing around on a rope.
Happy that you got out.
I don't know why my phone says there is one reply but I can't see it. Maybe someone flaming me. No idea.
With that kind of attitude, no wonder they don't want to sell you a Rolex. You aren't a watch enthusiast, you just bought a few pieces that you think will get you a GMT. Otherwise you wouldn't sell them out of spite if you truly loved them. Let me guess, you now bought a few Chinese GMTs homage watches to satisfy your itch? You could have saved a lot of money just buying homages in the first place.
Buying a Patek or a Hermes handbag is exactly the same, but you only hear whiners cry about trying to buy a sought-after Rolex.
@@g43654 He bought thousands of dollars worth of watches trying to get a GMT.
The amount he spent on the watches the AD sold him are way more than the price of flipping the GMT lol. He’s a real collector.
A fake enthusiast goes into the AD and asks for a stainless steel Daytona because it’s a free 10K. This is a guy who’s into watches and is playing a game with a garbage AD
@@thegorn It was my comment lol. No flame. I was just saying the AD can absolutely get you a GMT Master 2 but they don’t do it because they want to get as much money from you as possible.
Good that you stopped supporting their habits
Austin, you're right. It's going to go down further and that's a good thing. Let those speculator/investor's conk out. This is all good news for the enthusiast. I have no interest in going into an AD until they treat customer's with respect.
Two Austin videos in only a matter of days? My cup runneth over!!
My three cents are... it's retribution time. Rolex is a mass-produced watch, maybe not with G-Shock with quantities. What kind of commodity does a mass-produced steel watch represents, if it can be easily reproduced by chinese for 100 bucks for nearly the same level and for 300 bucks on almost the same level? This "investment" stuff went too far, I can harly imagine, how many watches are sitting in the desks of those "investors", waiting for them to become even more expensive. Just like with modern art, Submariner's value is a matter of some agreement within community, which may come to an end at some time.
The chinese cannot make a fake Rolex that will run for decades without problems or maintenance for $300. If they could, they would, but they can't. No one can. Also, it's a useless pursuit, want a perfect watch worth every cent? Buy a G-Shock. It's exactly because of these investment a-holes that people got confused why a Rolex is expensive. I hope the prices drop like a brick.
The clone movements suck but the finishing on clone watches are similar. Rolex doesn’t have great finishing for what you pay.
Trust me - they are not. They only look the part. I am a patient person. I can wait for prices to deep low and hunt for a deal without humiliating myself at the local AD or begging them to sell me whatever. Patience is indeed - a virtue.
Hey Austin , great to see your back. I wouldn’t worry about what the mainstream media is saying, once the big collapse in us currency happens no one will be buying watches, theres been so many watches made the last few years and so many speculators own them, the whole market will get flooded with watches and prices will collapse.
I don’t think the value of US currency has anything to do with this. But I agree with your second point that there is a tipping point in the secondary market, where the speculators holding these pieces will begin to collectively freak out and want to unload their collection before they lose any more money. Almost a sure bet this will happen. I’m more curious how that will impact the AD’s and their inventory/tactics.
Dude, the market is soooo phucked, I'm paying more at my local drugstore than I do at the Rolex AD.
The worst thing is - nobody is buying these watches. They are just sitting forever. Even at these dropped prices there are no buyers anymore. Rolex was always "a 10% off msrp" brand .. Back in 2017 you could buy any model at a discount. These times are coming back faster than you think as there's no helicopter money anymore, borders are open and people are traveling again, spending money on different thing and whole watch sentiment has faded .. Flippers can't resell their watches they bought at the AD to a grey dealer next door so they took their money elsewhere .. Only real Rolex admirers are left, and none of them will pay a 100% markap for a GMT.
Quantitative numbers and analysis, finally! Many thanks ...
Thank you for the video, Austin
Excellent video. Very informative. Well done.
I bought my 2015 116600 Seadweller because I enjoy it and wear it not stuck in a safe. Enjoy them not worry about how much they loose or gain
Bought my 2007 16610 Sub to wear. It's a tool or instrument, not some drawer filler. I wear mine every day.
There’s tons of inventory…it’s just all been shuttled out the backdoor to grey sellers.
You say bad news - which is true for those that buy for investment purposes. For those of us who buy watches because we love these little mechanical marvels, this is great news. We aren’t in it to make a buck, but to own a watch we enjoy.
Maintaining artificial scarcity at ADs will be challenging if secondary prices dip considerably below list price.
I for one am GLAD the market is tanking. I am so sick of the hype, the “investors” and all the grey market BS. Maybe watches can go back to being a hobby for enthusiasts again. Instead of “investors” and instagram flexers.
Let the bottom completely fall out I say.
Its getting to be more like a buyers market.
watches are not an investment :) I buy watches that I like
NIce to see you back Austin! Nice video mate!!
People are simply bored of if all and they haven’t got the the money to spend on a brand that plays games with its customers. It’s going to get worse too as the illusion of Rolex is falling apart.
To be honest the bubble was always going to burst at some point. It’s only the hoarders and investors who lose out, who are the exact same people that have pushed the ridiculous prices so high and out of the reach of most. If you bought one nice watch to wear, then it’s still the exact same nice watch on your wrist. I think this is great! 😁
Those pieces that you are talking about the ladies in the they just are in stock at most dealers I have visited over last month and they are there
Ha! Ha! Ha! By definition the hoarders aren’t selling. So how does it hurt them??? 😂🙄
@@closer71 you do understand value of an object/collection don’t you? And that they may need to sell it one day and would take a hit? Or that they might now want to sell before prices drop even further? 🤔😂😂
@@cp4512 How do you know they’ll need to sell it? I mean, where do you get all this knowledge of the future?!?! If they don’t sell, they haven’t lost anything. If their great grandchildren sell it, there could be a huge profit. Or maybe break even. My point is, you seem to know an awful lot for someone who doesn’t know any more than anyone else.
Hi Austin! Do you have any websites/resources to recommend for watch discussion in Japan? Also do you know any watch stores in tokyo that sells handmade straps/accessories?
You are absolutely right about watches not being in cases again at the ADs. I've noticed ADs have switched all their display cases from a case that has 20 slots to display watches to a smaller case that holds 1 or 2 "exhibition pieces". None of the stock will be on display anymore, they will offer common datejust models to walk in clients after they screen them thru conversation.
That’s true. My ad used to have big cases for rolex and then where switched to small cases.
If you bought watches to wear and enjoy and didn’t pay overinflated secondary prices to flex or “invest” then you’ll be fine!
Watch prices will keep going down and will not go back up! Inflation is too high and people are broke now😩
Hi Austin. If I'm in Tokyo in January, where should I go to look for a Datejust 36 for about Y600,000 ? Is it do-able?
People are sick of not being able to purchase a watch at a normal price in the official shop.
Also other brands are just as good if not better than the high prices brands.
Nice to see you posting videos again Austin. I miss your content!!!
Thanks for the tips! I'll be visiting Japan/ Nakano next month, any tips for finding a nice datejust? Also how do omega prices look?
It's simple.
Most people in the market are in the market for 1 watch and 1 watch only. Their Submariner, OP, Datejust, GMT Master. They get the 1 watch they want for life (either from the AD or grey market) and don't need to purchase any more. Now that they don't need to stay in the market, all these stores can't push them. Bring it DOWN.
That’s right.
Hey Austin! Visiting Tokyo right now. Where would you go to find a cheap speedmaster?
5:36. I’ve been watching for this. Interestingly the past 3 yrs of no availability have hidden changing consumer demand a little bit.
My Toronto AD told me the following.
Easiest to get:
-Sea Dewellers (all current models).
-Ever Rose models.
-Two Tone watches.
Hard to get:
-DJ 36 (big wait, most versions, surprising)
Can’t get:
-steel Submariner’s
-GMTs
-Daytonas.
(Best chance would be something that combines 2 undesirable qualities such as 2 tone with Everose)
Interesting matrix.
Same as the UK, Rolex just needs stop making ladies DJ, two tones and PM for like 6 months and up production of steel sports, but they risk over saturation.
There are plenty of watches in the safes of the AD’s. They continue to flip the hot models and pretend there is no availability of all the other pieces to force buyers into a spend history before offering them a Rolex. It’s all bullshit don’t believe the hype.
Great video.
Thank you for the informative price analysis. Question: Are used watch prices now in Japan relatively attractive due to the weak Japanese Yen at about 150 per USD, or do used dealers in Nakano and elsewhere in Japan raise their prices in Yen to efficiently match international market prices?
Thank you! There are still a lot of really well-priced pieces here in Japan now.
I’ll take a Tudor over Rolex any day at a third of the price.
I wouldn’t.
The grey dealers' present mantra is that the market has bottomed out. A year ago they were saying that the recovery would come in the run up to holiday season. Drop, drop. And a little more!!
Unbelievable...but true
@@WallStreetReporter1843 👍👍
Yes, there a few Datejust two tone with diamonds dial or diamonds bezel for sell after visit nos of ADs
love that you’d say it makes sense to do something and then say that it might not be a good decision in the next sentence :). morgan stanley’s watch index doesn’t capture all transactions particularly the how the secondary market do their deals. but i do hope that prices continue to go down. get more people into the hobby
Any thoughts on the Pepsi keep hearing it will get discontinued
Do yo have a link to the morgan stanley report? I'd love to read it.
I wonder how Anthony Farrer, Paul Thorpe etc are getting on..
Farrer is maybe looking at jail time. I'm guessing Thorpe survives the downturn.
Is it good time to buy the Rolex sprite brand new 2023 on the grey market in England they are now 16000GBP with it being unique and rare piece and also having a price drop of over 50percent since its peak.
And am also hearing that ADs are not taking new enquiries on this particular model which makes me think are they gonna be discontinued soon.
Any help would be much appreciated
Bought a GMT Master 2 16710 Pepsi in Ginza this week for 12k USD. Box/papers etc and in amazing condition - maybe I could have waited but I’m going to wear this baby for the rest of my life. ❤
@@SILKY_999 2004. ¥ is rock bottom against USD at the moment, might be making it seem cheaper too.
Wearing & enjoying it is all that counts!
Thanks for the video. I think it is best to wait as potential buyer, keep an eye on pieces you are interested in, keep educating yourself, no urgency, a colder winter is yet to come for the flippers.
I believe, the "canary in the coal mine" is the resale prices of precious metal models...
I am going to be in Hong Kong in 4 months and am saving my pennies now. I'm hoping that prices continue to dip so that I can pick up a nice, vintage GMT 16750 at a "reasonable" price.
What do you think about air king availability?
Where would you recommend to buy something in Japan?
Here with a work visa and contemplating a gift for myself
The “dip” in vintage pieces is going lower because too many pseudo enthusiasts, or we could also say speculative minds who want to be safe with every penny they spend,have bought the signature pieces from Rolex. Many of these people don’t have the money to just keep these watches for fun. When they start selling the early 2000s Submariners etc, the prices for all other models will also decrease. Just a humble opinion….
Last yr AD told me OP 41 are very hard to get due to it being affordable. And 2 weeks ago i put it on my wishlist and got it a week after. But GMTs are still scarce.
Yep. Just picked up a DJ 41 fluted bezel rose gold jubilee Wimbledon for retail in Los Angeles a few weeks ago, full set.
was at an ad yesterday they keep like 2 in the showroom then the rest in the back i was thinking it was safety precautions
I almost bought a used explorer 2 for £11,000 about 2 years ago. I’ve just picked one up for £7000.
I’m sure Rolex AD’s have plenty of watches in the vault and I wouldn’t be surprised if they sold highly sought after models out the back door to gray dealers. Luxury jewelers also need to keep margins high to keep the lights on in bad economic times.
True! By Bucherer in München they just sale to grey market to get extra Cash! 😮
Rolex makes 1 million watches a year and there are 2000 ADs in the world. On average, each AD gets 500 new pieces EVERY year, the number might go up or down by location.
If you keep walking into your AD and they have empty shelves, they're backdooring product. These family owned ADs can pound sand. Hopefully Rolex cracks down on them and revokes their licenses, this is disgusting lol
You are correct. There have been several grey market dealers who confirmed that AD's are selling Rolex out the back door on RUclips. The real proof is that you go to the AD and see empty showcases. Then you go to grey market websites and see any model you want in quantity -- some have tags and stickers on (which means it came form the AD directly).
Yup, this is it right there. ADs are supposed to remove the stickers when selling watches directly to clients. If a watch is on the grey with full stickers it's been backdoored. The front of house at the family-owned AD in my area openly admitted to saying, "the owner chooses who the desirable sports models go to."
I would recommend seeing if you can flag this to Rolex. They might look into this issue and go after the AD. I suspect these are the shops they're trying to get rid of with the Bucherer acquisition.@@dannysimenauer5745
It drives me crazy that Chrono24 still has the 126334 blue dials priced at $15,000. Are you kidding me? This tells me that people overpaid in 2022 and are not willing to budge.
Anyone can list a price at $100,000 if they want. Chrono24 has been used and abused by watch dealers for years to over inflate prices. It's why they love consignment as well, they are under no pressure to sell and can put any ridiculous price on the watch they want. Then selling their own stock at a reduced price pretending it's a great deal.
Hi Austin, here in Thailand you will find all watches at AD’s (display only) but windows are full. September must have been especially bad and slow, grey dealers offered watches like crazy. I had a call from an AD in Bangkok offering me a white gold Sub (1510000 Baht), very nice watch but I had to decline as this one was just offered for 1350000 Baht in grey market (we talk brand new unused 23 watch, B&P). The economy is hit hard here with a new Gvmt which seems a bit lost what to do. The Baht is weak which makes me wonder what Rolex will do with prices in 2024 …… demand in Thailand is very weak at the moment. Dealers will still sell to flippers back door to make an extra $ on the high demand SSP but it will get harder for them to sell the rest.
I have been to every AD in Bangkok, none of them offered me any watch.
All of them said no stock.
@@ekimandersom4478 hi, I was very surprised by the call, never bought any watch from that AD. About a year ago I went to many AD’s and told them I was interested in the Sub …..would have gladly bought it then. Some AD’s were very nice, one was very arrogant. I still love that watch but how can I pay 1.51 when I can get it for 1.35 Mio? These AD’s get watches, Rolex makes 1.2 Mio watches per year …… I was lucky to get one from the AD in Udon Thani but no further watch so far ……. I personally think Rolex should change the way they sell watches. Down-payment and you get the watch you like even with time to wait ……I would be happy, this flipping game is bad and will turn against them.
Great video. Grey market is collapsing. One year ago market frenzy now heading to exit.
Spot on. Lack of supply is a myth created by the ADs and has been for a while now. Stuff might start showing up in the case again, but steel GMTs, Daytonas, and Kermits will be wait listed forever.
Oh I have a SD16600 swiss only, full set😍😍😍
Good news
I am not yet seeing this reflected on the UK high street, dealers seem in denial
My local AD has full display in their window and looks like plenty of stock inside. I assume they are not display models, I will be going in the new year. I fully expect to get the one i want.
Spot on!!! AD’s create the hype to sell with ,
Sorry we have no inventory but let me see if something came in just today … BS
Hi
I am in Japan now and I want to buy a new Omega on Jack Road. Should I be worried about anything there ? I have watched your videos, recommendations and tips, that’s why I am trying to buy at this shop.
Thanks for useful videos, input and good insights at the watchmarket❤
In my country, the prices for Rolex and other luxury watches prices remain more or less the same.
You are on target with how some ADs are managing inventory and maintaining a perception of scarcity. Recently went to a major AD in southwest FL and they had one 41mm Datejust with diamonds, jubilee, fluted, rose gold for sale three weeks ago; absolutely beautiful watch!They are servicing my wife’s watch so asked this weekend about new watches and they had two ladies’ Datejusts for sale. As they sell less and inventory increases, more of the hard to get pieces will miraculously appear from the vault. Kinda shady? Free enterprise?
Why buy Rolex when treasury bonds pay 5% ?
If a currency collapse 5% is peanuts..
Buy Bitcoin. It’s up like 80% this year and rising.
@@thegorn Gambling
Because a GMT looks cooler than a treasury bond wrapped round your wrist
@@Whizzer_😂😂😂
I just got the call from my AD for my Batman last week. I was curious to see what grey dealer would pay. As soon as I got home I sent pics and they offered me only $14K!!!
Only 14k!! what did you want them to offer you 20k 😂 idiot
They have to make their cut. They also sit for a long time at their listing price.
This is great news, greedy grey market dealers is the problem. I've been truly into watches for over three decades and I'm glade and pray things go back to normal.
Well this was obviously going to happen. How many modern Rolex did i buy during the pandemic? Zero!! I did however buy Vintage Rolex. Far more stable market.
I like a newer watch but my father taught me in the early 1990's to buy vintage and hold onto them. The man has a seven figure collection now . This was when you could buy a vintage "Big Red" Daytona for $2700 and a Red sub for $1500.....plan ahead and dont feed into the want of having the newest model.
Great Video, been following and bingeing your videos for a while now.
I'm currently holidaying through Japan and have asked at various AD's - Kyoto, Osaka, Fukuoka/Hakata - every single one still only has exhibition only models on display and would not sell anything (I enquired about an explorer 1).
Currently in Tokyo and looking for a 5 digit sub date, or an modern explorer 1 - Just went through ginza shops this evening and will try get out to Nakano over the weekend!
Your video makes me wonder if its worth waiting for prices to go down further, however I am only in Japan for a limited time so will need to bite the bullet if I do !
Thanks again Austin!
Thanks for the comment - and good luck! Nakano Broadway has an insane amount of watches!
@watchsymposium Nakano did indeed have a good amount of watches, although not as many 5 digit subs. I nearly pulled the trigger on a 116610ln which was priced quite low, I thought it was a little too low if I'm being honest. I found our it had service and repair from rsc for the crown and crystal (I assumed that's why it was priced cheaper)? Tried to reach out to you for a question but didn't have enough time in the country left.
In any case I was too paranoid to buy it then and ended up pulling the trigger on a 5 digit M serial with the engrave.
A week on now I'm still thinking if I should have gotten a 6 digit instead though 🤔
after April of 2024 I will be ready for a Rolex Submariner, the used prices are still dropping in the low $7000s for no date 14060s. I believe this will continue , people are loosing confidence in the economy and speculating . The new Submariner looks so good but so does the pre-ceramic 14060-M models. Outstanding video, thanks Austin.
Heading to Tokyo in January looking for a preceramic GMT - hopefully prices drop a lot more by then!
Picked up a Pre-Ceramic GMT in Tokyo earlier this month (T serial 1996) for $10,500. Shop is called Commit in Ginza
BTW: 16700 w/ B & P in great shape
I got a 16710 Pepsi 2004, full set box/papers/tags for $12k last week. Shop was Ginza Rasin
Japan is high compared with Singapore.
spot on. 2024 will be better for buying a watch. Prices will drop further...
I have a James Cameron, sold my Sub with date and am looking for a Daytona 18k white gold with ghost dial.
looks like the actual state of the market is much worse than online prices would indicate, with the exception of few models. Dealers buying many at or under RRP (even some 2023 refs), and even refusing to stock some. If there is a drop in other assets and people need to cash these watches, it will be fun.
Went to my local dealer in Melbourne, Australia and they had most Rolex models available
Authorized dealers should just call themselves empty watch showcase and watch advertising places.
Ridiculous.
Great News
My Rolex AD told me that they are required to put stock out in the cases for sale - both ADs near me usually have 5-6 pieces for sale, but they are mostly two-tone models and solid gold models, certainly no steel sport models.
I have not seen this practice at my local ADs. They are still playing the "no stock" game and keeping their watches in the back room.
Suppose we could go back to the real reason most of us buy expensive Rolex watches is to wear them as a excellent time piece ,had mine since 1986 wear it every day had it fully serviced twice what’s not to like.
ADs can hide the watches in the back, but market is smarter than them! The hype is dead and supply is only going up with new factory coming online! I think we will be back to list across the board (except Panda and Pepsi) within 2 years! Not enough lollipop suckers left! 🍭
Rolex are too expensive for me honestly, even at tag prices. And Unfortunately all the other major luxury brands like Omega and Breitling are trying to enter that same price range... I bought some Omega second hand and the price increased right away, next year I'll buy a vintage Breitling before they became too expensive for me... Also, walking around with a Rolex is too risky nowadays if you live in a big city
Indeed, the safety concern of having one on your wrist is what I hate the most.
Honestly i'd look at something like Longines. They've been killing it with their new releases. And you can pick up something nice like a hydroconqeust on the gray market for like $1300. That's probably what i'm going to do. I was looking for something in that Omega/ breitling/ tudor price range. But i honestly like the aesthetics and looks of Longines more. Just keeping an eye to see if i can get em a tad cheaper. But yea like you, worried i might miss the boat before the prices climb again.
on the list for dj41 blue/ blue motiflgreen motif nearly a year now
lets see
My local Rolex AD just bumped the price of the Explorer from CAD$8500 to CAD$8550 this month. I guess he's not in the loop! 😆
Good evening Watch Symposium! I'm planning to buy a used Date-just Rolex or a Tudor GMT . Which store/s would yoi recommend in Tokyo area. Appreciate for your kind suggestion. I am from the Philippines, working & living here in Japan for 7 yrs. now.
Thanks for watching!
I don't recommend any one shop, because it's all about the right watch. So, go for the piece, not the shop.
Thanks for our comment Sir@@watchsymposium , kindly guide me which area &/or location in Tokyo shoudl i visit as this maybe the best timming for me. Best regards
If you're going for the Tudor GMT be mindful of those QC issues. I think it was something to do with the date wheel.
looking at it from a business point of view [just my point of view] the hiked Rolex prices of grey market always presented to me that Rolex faced a huge "pending" problem that could even cause their brand an even larger headache of unpopularity. This was made worse by their lack of AD control and the AD's under the table trades of new stock straight to the grey market. In my opinion Rolex have to take it all vertical and remove the AD problem that only deals with current issues. On the face of it the Rolex grey market prices might seem great for the brand but that will not be the case long term as I expect Rolex hasn't gone through unpopularity yet, that it will inevitably do at some point. Again, just my thoughts.
I agree.
@@mr_grillet I've actually chatted to Rolex person's and I would not quote them or offer a negative but in my own opinion, the Grey Market price hiking always presented a big problem and those who were benefitting mainly the independent AD's that supplied the popular watches to their preferred sellers have really caused a failure point for Rolex. If I was advising Rolex I would end all AD's and take it all in-house and this will only stop the bleeding but not the wound. Again this is only my opinion based on how I see the business.
100 percent. If Rolex owned the stores, demand would still be strong, but at least their most loyal customers wouldn’t get shafted, like they are getting shafted now.
There won't be a huge rolex following if new customers are unable to obtain one for a reasonable price. If the waitlists and scalping persisted for another 10-50 years, there would be a significantly smaller customer base and following, which would ultimately hurt their business. All frothy markets turnaround, after a period of time.
@@d4n0wnz that is probably very true what you say. The underhand AD off-loading their stock to preferred Grey Sellers for a price is what has caused the problem as far as I can see.
Grey market yes but AD Rolex, rock steady. I just picked up 136660-003 yesterday and paid retail plus tax.