How low is a Lowballer?

[Triumph]

Since laojiao Ocean say can pick real example, here is 1 for discussion - http://sg-roc.com/showthread.php?t=14424

Is tat a bit too high for a no-date Submariner n it is nt local set?

[wolfeyes1974]

No offence to seller and bidder here.

here's an example from our sales thread.

do you think Member White is lowballing Seller?

http://www.sg-horologyclub.com/showt...638#post144638

Seller has in mind his reasonable price and bidder did research on the market "flipping" price but kind of neglected when were those watches bought...

Back in end 2007, this exact watch can be purchased at $5000 after disc. The price of this watch has since increased by 20%..

cheers

james

[wolfeyes1974]

No offence to seller and bidder here.

here's an example from our sales thread.

do you think Member White is lowballing Seller?

http://www.sg-horologyclub.com/showt...638#post144638

Seller has in mind his reasonable price and bidder did research on the market "flipping" price but kind of neglected when were those watches bought...

Back in end 2007, this exact watch can be purchased at $5000 after disc. The price of this watch has since increased by 20%..

cheers

james

sorry, let me correct myself...2 years ago, you can get this watch at $4600-$4800 (depends on your r/s with the ADs).

now, let's examine what the preowned dealers will be selling this piece now. They'll offer 50-55% discount based on current retail price and that works out to $3500-$3900 (may still be negotiable).

for this case, how much are you willing to bid for it? let's see how many 'lowballers" we've here..

i feel that $3500-$3600 is reasonable (but wld seller agree and am i a lowballer asking a further discount of $900?).

lowballing is too subjective from my opinion...and many factors affect how much seller sells and a bidder's bid..

cheers

james

[PamDino]

I think buyer/seller must know the current market price of the particular model. It's no use saying how cheap or how expensive back then or now. It's the current/present price that's important. Price moves up & down as & when due to market forces. I think it's very much like property.

Too bad if you did not buy it when it was at its' lowest.

Dino

[Ender]

all prices < my asking price = low ball!

[Democritus]

Most commonly traded brands/models has a rough market value. If seller priced it too high, there is no need to offer and seller should get the hind to lower. If price is near market rate, then buyers should not offer anything 10%below market rate or it will be clearly lowballing.
Does it matter if its 2nd hand or 5th hand if its the same series. Judge it on the condition! I would price a 1675 purely on condition and accessories and not at all on whether its 1 owner or 5 owners.

[Oceanklassik]

I think buyer/seller must know the current market price of the particular model. It's no use saying how cheap or how expensive back then or now. It's the current/present price that's important. Price moves up & down as & when due to market forces. I think it's very much like property.

Too bad if you did not buy it when it was at its' lowest.

Dino

I have to agree with Dino's stmt. At least, the current mkt price gives a buffer for negotiation.

Most commonly traded brands/models has a rough market value. If seller priced it too high, there is no need to offer and seller should get the hind to lower. If price is near market rate, then buyers should not offer anything 10%below market rate or it will be clearly lowballing.
Does it matter if its 2nd hand or 5th hand if its the same series. Judge it on the condition! I would price a 1675 purely on condition and accessories and not at all on whether its 1 owner or 5 owners.

On yr 2nd para, why nt do a vote if it actually matters to people if a watch has passed thru' many 'hands'? Don't misunderstand me but seriously, I do mind. A watch is like any commodities to me; car/house/TV/clothes/DVD player/PSP... and as a matter of fact, WOMEN . So the more 'hands', the lesser in value.

[triton]

you just brought out a thread out of the many threads in which i stated as a scenario.

with no reference to wolfeyes74's quoted thread, to an ill-informed watch buyer, the price would be a good considering the discount.

if seller states such information about when bought etc etc. in hoping to sell as close to the buying price, is it considered unethical? if there is a low ball offer, is it legit?

as i have mentioned to many people in this forum, do research on the watch you want to buy. take your time, dont rush. but sometimes there are kan cheong moments and purchase a watch too quickly. it takes me on average 2 months to buy a watch, sometimes even years to purchase a watch. i too was a newbie and started to rush in purchases till my shifu told me, take your time. let the watch come to you. it is very true that when u hang in there, wait and wait till the right moment to pull the trigger. the chances of making a mistake is lesser.

i thank my shifu from the bottom of my heart.

another scenario, a seller buys a rolex in 2006 listed @ 10000. then in 2009 decides to sell it, post an ad indicating that the current list price which could be now 12000. the seller could be a vvip customer who gotten 22% discount. so 3 years down the road, the discount structure may still be 22%, but the list price has changed.

seller decides to post it for sale @ 7800, paints a picture to say the discount given is 35%. a potential buyer who knows the price back then and discount structure, decides to offer 7500. is it considered low ball?

i leave it to you all to decide.

No offence to seller and bidder here.

here's an example from our sales thread.

http://www.sg-horologyclub.com/showt...638#post144638

Seller has in mind his reasonable price and bidder did research on the market "flipping" price but kind of neglected when were those watches bought...

Back in end 2007, this exact watch can be purchased at $5000 after disc. The price of this watch has since increased by 20%..

cheers

james

[Oceanklassik]

And you are now shifu to many as well.

[darth-khips]

such a subjective issue!!! the reality is for "liquid" markets like panerais or rolexes, the market price is fairly established. i m a big fan of efficient maket hypothesis when it comes to rolexes esp. if someone sell too cheapy, will get done immediately, vice versa. for roger dubuis, JLCs etc etc, market fairly iliquid, thus bid/ask spread is wider.

IMHO, if you bid/offer 10% away from mkt for rolex and PAMs, then u are either a low baller or highballer. buyers and sellers for this category shld investigate whats on offer in the market and either match accordingly. sellers shld be realistic in pricing esp in this market, and compete properly. reality is, this is a buyers biased mkt, not just becoz of bad economics, but the channel of sale. for watches, its always put on sale/display, either on line or shop based, thus sell price is transparent to all(one would assume). but buyers can be flaky and could easily run around and try to arbitrage the prices and sellers. buyers shld also consider condition of the timepiece, and pay up accordingly if it is BNIB or in excellent condition, or just serviced etc.

thus, as this forum are for friendly people(i assume), thus lets be honorable and quote prices, whether sellers or buyers. dun be a profiteer(unless you are a trader), and buy cheap from ADs sale and try to flog it off higher here. lotsa bros here have similar contacts. similarly, buyers, be realistic and when informed price is FIRM, dun bother to bargain and haggle. and weare talking market prices here, dun quote 2003 prices and say things like"you bot cheap" etc, even though that is how you feel.

for traders, prices shld be accompanied by good service.

my 0.08 cents worth of opinion, FIRM, no negotiation.

[louisoh]

you just brought out a thread out of the many threads in which i stated as a scenario.

with no reference to wolfeyes74's quoted thread, to an ill-informed watch buyer, the price would be a good considering the discount.

if seller states such information about when bought etc etc. in hoping to sell as close to the buying price, is it considered unethical? if there is a low ball offer, is it legit?

as i have mentioned to many people in this forum, do research on the watch you want to buy. take your time, dont rush. but sometimes there are kan cheong moments and purchase a watch too quickly. it takes me on average 2 months to buy a watch, sometimes even years to purchase a watch. i too was a newbie and started to rush in purchases till my shifu told me, take your time. let the watch come to you. it is very true that when u hang in there, wait and wait till the right moment to pull the trigger. the chances of making a mistake is lesser.

i thank my shifu from the bottom of my heart.

Ur shifu also bz recently.... nvr come in much..

[teo]

Wait till anyone want to sell their watches he will know what is lowballers.

[Darkangel]

Ur shifu also bz recently.... nvr come in much..

who is his shifu? dun tell me is uncle pet? cannot be leh

[pcb123]

actually, if you feel that it is a low ball and got better offer, then just ignore the low baller la.
to me, a watch worth 10k, A want to sell it at 8k but there was this guy B who sold it at 6k 2 week ago, the same watch, so you in return offer A 6.5k.
Low ball or not... gotta decide...

[louisoh]

who is his shifu? dun tell me is uncle pet? cannot be leh

Chey... so many pros ard here...