Watch valuations - Rolex

[tugglesf239]

Just did the valuation

For sure, but given he is selling (maybe) 2 datejusts, I assumed he would not want another one. Maybe a datejust 41, but even they are not that common.
If they quote 4 years, they are being polite. They really mean no.

Just did the valuation with the chrono24 website.

I’m absolutely flabbergasted at the valuation of the Datejust.

Thought it would be around 2k but it is significantly higher.

Still deliberating over actually trading it in etc, however reading up in timepieces has at least given me a wee lockdown hobby.

 

[USER1999]

Just did the valuation


Just did the valuation with the chrono24 website.

I’m absolutely flabbergasted at the valuation of the Datejust.

Thought it would be around 2k but it is significantly higher.

Still deliberating over actually trading it in etc, however reading up in timepieces has at least given me a wee lockdown hobby.

You don't get much Rolex for 2k. Bear in mind trade (with a dealer) in will be way less than selling yourself on Chrono24. Selling is easy, they charge around 6%, but provide a secure way of getting paid using their escrow system. The only issue is insuring shipping for the correct amount.

 

[tugglesf239]

You don't get much Rolex for 2k. Bear in mind trade (with a dealer) in will be way less than selling yourself on Chrono24. Selling is easy, they charge around 6%, but provide a secure way of getting paid using their escrow system. The only issue is insuring shipping for the correct amount.

I really appreciate the heads up.

Just looking at some of the other ‘used’ prices now and can’t Believe what a good investment a Rolex would be.

Have previously taken a shine to a sky-dweller in silver with the navy blue face.

However having just seen the real world price they command I think I will cool my jets ?

 

[ColchesterFC]

You don't get much Rolex for 2k. Bear in mind trade (with a dealer) in will be way less than selling yourself on Chrono24. Selling is easy, they charge around 6%, but provide a secure way of getting paid using their escrow system. The only issue is insuring shipping for the correct amount.

I think you'll find that if you go on holiday to the Spanish islands or Turkey you can pick up a "genuine" Rolex for around 40 euros. And I know that because the salesman promised me that they were genuine.

 

[backwoodsman]

I think you'll find that if you go on holiday to the Spanish islands or Turkey you can pick up a "genuine" Rolex for around 40 euros. And I know that because the salesman promised me that they were genuine.

Crikey, are they as much as that now? Got mine for 5 dollars. I think mine must have been a "special edition Rolex" as I've never seen anyone else with one that went rusty?

 

[USER1999]

I really appreciate the heads up.

Just looking at some of the other ‘used’ prices now and can’t Believe what a good investment a Rolex would be.

Have previously taken a shine to a sky-dweller in silver with the navy blue face.

However having just seen the real world price they command I think I will cool my jets ?

A Rolex is only really an investment if they will sell you one! Sadly, they won't. It's a bizarre business model considering how much money they spend on advertising.
Patek is similar. A 5711 Nautilus retails for around 22k, if you can get one, which you can't, so a 'new' pre owned is 60k.
What is odd, is that Rolex and Patek don't really get any benefit from this, except desirability, whilst unscrupulous dealers make a fortune.
The blue Skydweller for instance, rrp 11800 last year, one for sale in the UK, and they will only sell it to someone who is a valued customer, ie: someone who spends about 100k a year in the dealership. Who spends that much? Dealers who sell on, that's who.
Rolex could sell 50 for every one they do sell, so I am not quite sure why they don't just put the price up to reflect the market.

There are a few new watches out, the new Snoopy Omega for instance, for which there is a waiting list, and yet new ones are for sale on the web at 3x rrp. Hmm. Where did they come from?

One of the best investments would have been the Omega 2016 Snoopy. Around 6k new, now 35k minimum, some untouched examples at 42k. Madness.

 

[backwoodsman]

A Rolex is only really an investment if they will sell you one! Sadly, they won't. It's a bizarre business model considering how much money they spend on advertising.
Patek is similar. A 5711 Nautilus retails for around 22k, if you can get one, which you can't, so a 'new' pre owned is 60k.
What is odd, is that Rolex and Patek don't really get any benefit from this, except desirability, whilst unscrupulous dealers make a fortune.
The blue Skydweller for instance, rrp 11800 last year, one for sale in the UK, and they will only sell it to someone who is a valued customer, ie: someone who spends about 100k a year in the dealership. Who spends that much? Dealers who sell on, that's who.
Rolex could sell 50 for every one they do sell, so I am not quite sure why they don't just put the price up to reflect the market.

There are a few new watches out, the new Snoopy Omega for instance, for which there is a waiting list, and yet new ones are for sale on the web at 3x rrp. Hmm. Where did they come from?

One of the best investments would have been the Omega 2016 Snoopy. Around 6k new, now 35k minimum, some untouched examples at 42k. Madness.

So, if I'm following you correctly, what you might call "factory output" is sold only to dealers? Then the punters have to buy from dealers - essentially new but at seriously inflated prices?

To be honest, I've never really understood the luxury goods market. Although something may be high quality/high cost, most luxury goods aren't "worth" what they actually cost. They just cost what people are prepared to pay to get one. I sort of "get" that's what "worth" is, but dont really see why people get onto that treadmill in the first place? Ok, so investment is a different things as there usually someone who'll pay more than you did. But if its only something you want for yourself ?? Bizarre.

 

[USER1999]

They do sell to the public, in theory, but in practice, no. If you were a celebrity, a social media influencer, a footy player, someone who buys lots and lots of jewelry, etc, you could probably get a watch of your choice.

If you are Johnny no one, who has saved up the rrp, you would have to be incredibly lucky.

 

[KenL]

I'm sure they are high quality but Rolex look pretty dull to me.?

Would rather have a nice looking Tag or stick to my Seiko or Citizen watches.

 

[ColchesterFC]

Crikey, are they as much as that now? Got mine for 5 dollars. I think mine must have been a "special edition Rolex" as I've never seen anyone else with one that went rusty?

Mine was a super lightweight version. I loved the ticking sound as the second hand clicked round the dial. Gave me a real sense of the quality workmanship that had gone into making it.

 

[BrianM]

I really appreciate the heads up.

Just looking at some of the other ‘used’ prices now and can’t Believe what a good investment a Rolex would be.

Have previously taken a shine to a sky-dweller in silver with the navy blue face.

However having just seen the real world price they command I think I will cool my jets ?

The watch world is a slippery slope, once you get into them, there is no going back ??

 

[srixon 1]

The watch world is a slippery slope, once you get into them, there is no going back ??

Trouble is, once you have more than a few you never know which one to wear.

 

[USER1999]

Trouble is, once you have more than a few you never know which one to wear.

That's when you buy a new one.

 

[Bunkermagnet]

So, if I'm following you correctly, what you might call "factory output" is sold only to dealers? Then the punters have to buy from dealers - essentially new but at seriously inflated prices?

To be honest, I've never really understood the luxury goods market. Although something may be high quality/high cost, most luxury goods aren't "worth" what they actually cost. They just cost what people are prepared to pay to get one. I sort of "get" that's what "worth" is, but dont really see why people get onto that treadmill in the first place? Ok, so investment is a different things as there usually someone who'll pay more than you did. But if its only something you want for yourself ?? Bizarre.

I cant remember if it was last year, 2019 or just before, but it came to light Rolex recalled loads of unsold watches from their dealer network as rather than them being sold cheaper they recalled them and smashed the lot.

 

[USER1999]

I would be surprised at this. Most of the stainless models have a waiting list, some up to 8 years. There is almost never any stock at dealerships, let alone at Rolex. Can't see why they would scrap off precious metal variants either, they would just not make any until the ones out there had sold.

What is typical Rolex is to stop manufacture of models with an 8 year waiting list, and just tell those on it that they will never get the watch they want. For example, the green submariner (hulk).

One thing they have done, which may be where your post above comes from, is withdraw stock destined for certain markets, China recently for example, and redirect it to markets where stock is selling. Again not good if you were on a wait list.

 

[USER1999]

Rolex remain a very strange company. I can't think, of many other companies that operate quite like them.

 

[Bunkermagnet]

I would be surprised at this. Most of the stainless models have a waiting list, some up to 8 years. There is almost never any stock at dealerships, let alone at Rolex. Can't see why they would scrap off precious metal variants either, they would just not make any until the ones out there had sold.

What is typical Rolex is to stop manufacture of models with an 8 year waiting list, and just tell those on it that they will never get the watch they want. For example, the green submariner (hulk).

One thing they have done, which may be where your post above comes from, is withdraw stock destined for certain markets, China recently for example, and redirect it to markets where stock is selling. Again not good if you were on a wait list.

Just realised it was Richemont (who own Cartier) who destroyed £400 mill of stock back in 2018.
Buy you are right, the desire of the manufacturer to retain their" aloof cant be attained title" is quite mind boggling.

 

[USER1999]

Just realised it was Richemont (who own Cartier) who destroyed £400 mill of stock back in 2018.
Buy you are right, the desire of the manufacturer to retain their" aloof cant be attained title" is quite mind boggling.

That sounds more like it. They do have certain brands that are way over priced in the market.

 

[Captainron]

I’d love a Rolex. Quality and value retention. They also look good