some time back i decided to suspend all purchases of rolex watches until prices go down. i thought to myself "it's time to sell, not buy" and i think i'm right thus far.
generally rolex watches did very well in the last few auctions and i'm very happy with the results (and the profits i've made). by the middle of next year, i hope to sell at least 7 more pieces. preferably as many as possible but higher prices will be realized if there's an element of rarity in the catalogs.
right now i would really really (really) like to buy a 116600 SD but i don't think i can make myself pay 12.5k for a grey piece, much less pay the RRP from an AD.
if i were paying 12.5k i think i want the 3135 to have all the bells and whistles (paraflex, better anti-magnetic properties BEYOND the blue hairspring, longer PR, etc... all the stuff that rolex can implement today but instead chose not to do so).
my money will probably be better spent on some other blingy "luxury dive watch"... until i realize rolex will jack up the prices of everything again in 12-15 months' time and that big attention-getting watches are not for me. so the money will, for now, stay in my war chest.
at the moment i think certain models are overpriced in the singapore market. so if you're chasing a 16710 it might be better to look outside the country or paying a little bit more for an older ceramic GMT2. LV (16610) prices seem to be coming down but it could just be an anomaly. time will tell. 216570 fervor seems to have been tempered too... the exp2 curse?
NOS pieces are recently coming out of the woodwork so i guess i'm not alone in the "selling" mentality. priced far too enthusiastically than what i think the market can bear - but it's always a battle of time vs demand (and supply). the winner will of course be the patient seller.
china seems more twitchy than mostpeople analysts are really comfortable with. they still have a whole lot of buying power, especially for the bright shiny uber expensive pieces (at least that's what the auction houses have been telling me). personally i can't wait for 2019... closer to home i'm hoping for a chinese economy meltdow - sooner is better than later.
i've rambled on long enough!
6 months into 2014 - how are you guys coping with this hobby thus far? buying more than last year because of a big bonus or have you cut back also because of high prices?
generally rolex watches did very well in the last few auctions and i'm very happy with the results (and the profits i've made). by the middle of next year, i hope to sell at least 7 more pieces. preferably as many as possible but higher prices will be realized if there's an element of rarity in the catalogs.
right now i would really really (really) like to buy a 116600 SD but i don't think i can make myself pay 12.5k for a grey piece, much less pay the RRP from an AD.
if i were paying 12.5k i think i want the 3135 to have all the bells and whistles (paraflex, better anti-magnetic properties BEYOND the blue hairspring, longer PR, etc... all the stuff that rolex can implement today but instead chose not to do so).
my money will probably be better spent on some other blingy "luxury dive watch"... until i realize rolex will jack up the prices of everything again in 12-15 months' time and that big attention-getting watches are not for me. so the money will, for now, stay in my war chest.
at the moment i think certain models are overpriced in the singapore market. so if you're chasing a 16710 it might be better to look outside the country or paying a little bit more for an older ceramic GMT2. LV (16610) prices seem to be coming down but it could just be an anomaly. time will tell. 216570 fervor seems to have been tempered too... the exp2 curse?
NOS pieces are recently coming out of the woodwork so i guess i'm not alone in the "selling" mentality. priced far too enthusiastically than what i think the market can bear - but it's always a battle of time vs demand (and supply). the winner will of course be the patient seller.
china seems more twitchy than most
i've rambled on long enough!
6 months into 2014 - how are you guys coping with this hobby thus far? buying more than last year because of a big bonus or have you cut back also because of high prices?
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