Market
Remarque's discovery of a Rolex Daytona selling for significantly above its original retail price sparked a lively discussion among WatchProSite members. This article delves into the community's insights on the escalating grey market for luxury watches, exploring the complex factors driving these unprecedented valuations. Remarque's initial observation serves as a crucial starting point for understanding the broader market dynamics at play.
True watch collectors are not buying these. There so many other nicer watches to get in those price ranges.
There is a certain segment of people with the means for whom this is wrist jewelry, like the female segment that pays multiples of retail for must-show high-end handbags. Since this category of men generally don’t carry handbags, they instead wear a difficult to obtain Rolex, Patek or AP steel piece so they can signal whatever these high-end handbag carrying women signal. I just think of it as handbags for men, and I don't see anything wrong with it as it is their money they are spending. The ir
I find it so weird how people all of a sudden 'love' these designs when a decade ago these Genta designs were called old fashioned, 70s designs and no one wanted them. A lot of people aren't into this for the love of the watches or because they actually like the design. I can rant all I want and call these people pathetic and hypocrites but that's how the world works I guess.
...and paid retail. I'm not sure what better watches you're thinking about in the $13,000 range. I wanted him to have one do-almost-everything watch that would last him the rest of his life, like my '83 Submariner will for me. Whatever one thinks of Rolex in general, it's hard to argue that they don't make a very well engineered watch at a reasonable (at retail) price.
However, this is the market value for the most "popular" watches, and is only getting more and more competitive -- it's just a fact of life. Hence, I can't judge someone who wants a given watch and sees the grey market as their best bet ;-) Not for me, but to each their own Cheers.
There are grey dealers now directly accepting cryptocurrency. In that light, it’s hard to know that watches are being bought by traditional buyers/watch speculators. While Birkin bags and over-list Daytonas have existed for decades(and I don’t know that watch popularity has spiked *that* much to drive prices up three-fold), the market has become so much more out-of-touch with reality that I can’t help but wonder whether they aren’t acting as a proxy asset. Just a thought. Thanks, Brian
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