Just saw a reasonably priced 116520

[116520]

Maybe you shall call our dear george, MIGHTY GEORGE-THE-GREATEST

I believe pam will drop back to less than 50%. Time will tell. I am definitely a winner because i never buy pam and they are ugly imo.

[mickey_]

I do agree the observation that prices of luxury items (and watches too) will tend to drop after CNY in the 2009 Q2 & Q3 region. This is a normal phase in any economic cycles - have observed for the past 2 cycles and based on experience, 2009 Q2 and 3 will be badly hit. (my personal opinion).

Now that I have expressed that while it is a normal cyclical economic phase that we are undergoing through now, there are a number of reasons why prices has gone down, and I shall name 2 of the obvious one:

(i) Selling off at a lower price (not necessarily at a loss/lost slightly) to free up cash due to cash-flow management in the current situation;

(ii) Selling off at a lower price (or prices at the time of their purchase - not necessary at a loss), to release cash - not that they need it, but ready to capture the market opportunities in 2009 which will enable them to make many folds (and thus to buy BN watches - one of each model at retail price).

I do know of many cat (ii) friends who focused on the big picture to forgo short term enjoyment. The rewards of these discipline will make them many folds more. Thus the theory in "bad" times - buy ONE cheaper rolex now or invest wisely and thus enabling you to buy 10 BNIB rolexes and have ample cash left for the future?

My humble observations.

[116520]

CORRECT!!! You're the WINNER!

I do agree the observation that prices of luxury items (and watches too) will tend to drop after CNY in the 2009 Q2 & Q3 region. This is a normal phase in any economic cycles - have observed for the past 2 cycles and based on experience, 2009 Q2 and 3 will be badly hit. (my personal opinion).

Now that I have expressed that while it is a normal cyclical economic phase that we are undergoing through now, there are a number of reasons why prices has gone down, and I shall name 2 of the obvious one:

(i) Selling off at a lower price (not necessarily at a loss/lost slightly) to free up cash due to cash-flow management in the current situation;

(ii) Selling off at a lower price (or prices at the time of their purchase - not necessary at a loss), to release cash - not that they need it, but ready to capture the market opportunities in 2009 which will enable them to make many folds (and thus to buy BN watches - one of each model at retail price).

I do know of many cat (ii) friends who focused on the big picture to forgo short term enjoyment. The rewards of these discipline will make them many folds more. Thus the theory in "bad" times - buy ONE cheaper rolex now or invest wisely and thus enabling you to buy 10 BNIB rolexes and have ample cash left for the future?

My humble observations.

[Ender]

Cheep Cheep Cheep!

Sour grapes??? I am tell the truth. no offence. Losers are those that buy too early. Winners are like me.

So from which time period to buy = loser and what price and when did you buy your zenith to be a winner?
Just saw a 16520 blackie W series 'Patrizzi' (complete except no guarantee but rsc service papers) go for around S$15,800... by that benchmark, are you a winner or loser?
At the end of the day and it has been said many times before - to make a big fortune on watches, you got to spend a small fortune first. If you look at watches puresly in terms of dollars & cents, then, I think 95% of watch collectors are losers ...
As for pams dropping 50%...trust me, everynight before I sleep I also pray for the same...btw, share the "other forums and shops" where 249, 190 and 232 going CHEEP CHEEP CHEEP ...
As for panerai being ugly, to each his own...

[Ender]

I do agree the observation that prices of luxury items (and watches too) will tend to drop after CNY in the 2009 Q2 & Q3 region. This is a normal phase in any economic cycles - have observed for the past 2 cycles and based on experience, 2009 Q2 and 3 will be badly hit. (my personal opinion).

Now that I have expressed that while it is a normal cyclical economic phase that we are undergoing through now, there are a number of reasons why prices has gone down, and I shall name 2 of the obvious one:

(i) Selling off at a lower price (not necessarily at a loss/lost slightly) to free up cash due to cash-flow management in the current situation;

(ii) Selling off at a lower price (or prices at the time of their purchase - not necessary at a loss), to release cash - not that they need it, but ready to capture the market opportunities in 2009 which will enable them to make many folds (and thus to buy BN watches - one of each model at retail price).

I do know of many cat (ii) friends who focused on the big picture to forgo short term enjoyment. The rewards of these discipline will make them many folds more. Thus the theory in "bad" times - buy ONE cheaper rolex now or invest wisely and thus enabling you to buy 10 BNIB rolexes and have ample cash left for the future?

My humble observations.

so true... but problem is the 'discipline'...
i mean, once george of the jungle share his lobang for the CHEEP CHEEP 249, 190, 232 ... I think my discipline will be badly tested...

[Metank]

Approve my post! it's for george of the jungle!

[Metank]

George, if it's like what u said. U are the winner and people who bought earlier are losers. i don't quite agree with u on that. Let's just say for instance, u been dying to get that daytona of yours. but u waited a year or 2 just because of that $1000 or $2000 difference? Im sure prices now are cheaper then before. Why? Cause market is slow. But of cause, We don't plan to sell our watches. So i would say. 3 years from now. Market will get better and prolly back to before? So at that time, we sell. Isn't it the same? Lol, People that bought a year or 2 ago sells now, YES they lose. but they ain't losers. U can't blame em for selling, it's not like they wanna sell but of cause they need the cashflow to support their family? car? god knows whatsoever. But of cause, we been enjoying our time pieces time to time. So as for u. Glad that u can wait. lol, Sorry im not that kinda person that can wait. Whatever i want to my ability. George, Take your time to wait for the next watch u want. But of cause i hope u will live well cause god knows what will happen tml. Prolly tml u will be meeting up with another seller to buy his watch but hey! on the way.

[116520]

That's why I said loh... I wonder how much our MIGHTY GEORGE-THE-GREATEST paid for his 16520... My dad paid $11k for a BNIB 16520 more than 10 years ago... he weared until sianz and I took it out and wear... sold it for $14.5k two years ago... So my dad a winner? I don't think so... is he a loser? I don't think so....

[Destro22BT]

George, if it's like what u said. U are the winner and people who bought earlier are losers. i don't quite agree with u on that. Let's just say for instance, u been dying to get that daytona of yours. but u waited a year or 2 just because of that $1000 or $2000 difference? Im sure prices now are cheaper then before. Why? Cause market is slow. But of cause, We don't plan to sell our watches. So i would say. 3 years from now. Market will get better and prolly back to before? So at that time, we sell. Isn't it the same? Lol, People that bought a year or 2 ago sells now, YES they lose. but they ain't losers. U can't blame em for selling, it's not like they wanna sell but of cause they need the cashflow to support their family? car? god knows whatsoever. But of cause, we been enjoying our time pieces time to time. So as for u. Glad that u can wait. lol, Sorry im not that kinda person that can wait. Whatever i want to my ability. George, Take your time to wait for the next watch u want. But of cause i hope u will live well cause god knows what will happen tml. Prolly tml u will be meeting up with another seller to buy his watch but hey! on the way.

:O Aiyo... can't imagine wearing a zenith daytona and falling into the drain. But things like that do happen...However, for someone with such an immaculate watch to fall into the drain...maybe the zenith daytona is a ticket to express care and treatment in healthcare groups like Raffles Medical Group... and the patient should feel secure, since security personnel there also don lolek? kekekekeke...

[wolfeyes1974]

I believe pam will drop back to less than 50%. Time will tell. I am definitely a winner because i never buy pam and they are ugly imo.

sure george..you're the winner like what you said...indeed, you've just made my day..

[mythbreaker]

i have collected watches for more than 20 years. along the road, i did buy and sell to swap watches. Sometime I sold at "paper" gain (time value of money and opportunity cost are difficult to judge), but I never indicated buyers' names openly and "LOL" and took other parties as Losers (some more said no offence!! ). Very simple, this is just buy and sell between 2 parties.
Now thru all these posts, I realise that there is/are someone(s) that I don't really like to deal with....

[116520]

In this case, I better staying out of this... just let our MIGHTY GEORGE-THE-GREATEST and his seller settle themselves...

I agree with our MIGHTY GEORGE-THE-GREATEST that prices of watches will drop in 2009 (in fact, what price is not dropping in 2009?) but don't agree how he defines a winner loh...

i have collected watches for more than 20 years. along the road, i did buy and sell to swap watches. Sometime I sold at "paper" gain (time value of money and opportunity cost are difficult to judge), but I never indicated buyers' names openly and "LOL" and took other parties as Losers (some more said no offence!! ). Very simple, this is just buy and sell between 2 parties.
Now thru all these posts, I realise that there is/are someone(s) that I don't really like to deal with....

[sunzhi]

ah chill guys... it's christmas, time to forgive & forget. imho, buying at high price doesn't make one a loser. i have bought some watches the last couple of months and true, the price has gone down by 10-20% and probably will be even lower. but had i spent the money in something else like investing in stocks, i probably would lose much more thn just 20%. further as mentioned by bro metank, i am not selling the watches now. so are people like me, losers? i dont think so. the worst is tht we didn't get a good bargain nor the best deal.

bro george, i m curious when did you buy your zenith daytona ? as you mentioned good bargain i reckon it must be very recent? but your photo ws taken in may 2008, thts 7 months liao...

[116520]

Totally agree with you!

ah chill guys... it's christmas, time to forgive & forget. imho, buying at high price doesn't make one a loser. i have bought some watches the last couple of months and true, the price has gone down by 10-20% and probably will be even lower. but had i spent the money in something else like investing in stocks, i probably would lose much more thn just 20%. further as mentioned by bro metank, i am not selling the watches now. so are people like me, losers? i dont think so. the worst is tht we didn't get a good bargain nor the best deal.

[116520]

Something to add... it is a X series... so the production year is around 1991. In another words, it is 17 year-old watch. I don't know how much you have paid for it but I am quite sure that the very first owner of this watch has paid lesser than you, so are you a loser, our MIGHTY GEORGE-THE-GREATEST? Honestly, I don't think so.... cheers!

bro george, i m curious when did you buy your zenith daytona ? as you mentioned good bargain i reckon it must be very recent? but your photo ws taken in may 2008, thts 7 months liao...