pejp
253
I'd agree with this....
Aug 20, 2019,09:39 AM
Of course it's always been this way to an extent, but the market seems so trend driven now. I just don't understand why the FPJ CB, the 5711, and the gaudy stuff that Rolex are producing these days are attracting the prices they are. Obviously I get the supply/demand aspect of it, but I don't quite get the sudden explosion in demand. I bought a CB 5 years ago for way below retail, and it was after about a week of searching. Same with the 5711...they've always been somewhat hard to find, but I was offered a white dial 5711 from a major retailer, barely worn, for below retail, and that was maybe 4-5 years ago. Around that time, I also sold my AP ROC for less than the blue/black GMT is current commanding! I'm not pretending to be above trends, we all follow them to an extent, but the market seems to be absolutely overrun with people buying certain watches because they're 'the watch to have', rather than 'the watch you actually want'.
Obviously that means the secondary dealers are going to focus their attention on those few watches, and yes, the indirect consequence of this is that it makes people like me even more risk averse. I've always bought fairly 'blue chip', just because I can't afford to drop 10-15k on an independent watch that I might not be able to sell again if I ever have to, so potential resale is always a factor for me, and with the market seemingly focused on less than 10 watches, it means I'm even less likely to take that risk. It pains me to say it, as I think they're great, but I learned that lesson with a Parmigiani, and as much as I like them, I can't see myself buying another. I think this forum is probably skewed more towards people who don't quite have those concerns to the same extent, but I think for the average mid-range collector, that's a huge factor in what they collect.
On the positive side, it means there are bargains to be had. I was recently able to purchase a dream of mine (1815 Up/Down), and I've got my sights on a 5196G and a IWC Big Pilot, both of which seem very reasonable in the current market.