The Watch Appreciation Thread - Part two (Rolex, Patek Philippe, Audemars Piguet, Jaeger LeCoultre,

[classicalthunde]

I think they also want a piece of the action. If prices are similar across the vintage market why would anyone NOT buy from Rolex? I'm assuming they will clean and service the watches?

Bucherer UK went live with it today.

A CPO Green Sub (126610LV) with papers from Bucherer is 35% more expensive than the same from Watchbox after adjusting for exVAT and GBP/USD exchange

My bad, that was actually a 116610LV Hulk, which makes it more like 10% higher than the same from Watchbox

 

[classicalthunde]

Mark must be fucked right now. Why would anyone sell their entire collection near the bottom of the market? And why would you want to buy a store right now? The timing is just horrible on all fronts. Something seems off here...He literally turned the entire Hong Kong location into an "auction preview site" - business booming?

eh, I don't buy these takes:

a) I'm not expert, but I imagine that it would take a while to set this up with a major auction house...and the market dip is like 3-4 months old.
b) after watching most/all of the 'what's on' Armoury vids where he often does a wrist check, I dont recall him wearing any of these watches except for maybe the Naoya Hida...which means they were like true safe queens...whats the point in having close to $1M in watches sitting in a safe when its highly unlikely that the watch market will rebound to where it was during COVID
c) he's trying to buy real estate in NYC, so the timing is right for freeing up capital for a down payment when the real estate market downswings

 

[smittycl]

You were just defending the cyclops on a Rolex because you couldn't read the date and now you're complaining about ALS and GO's big date.

The German watch brands solved the small date problem without implementing an ugly ass cyclops and you're still complaining!!!!

Now you sound like my wife!

 

[9thsymph]

eh, I don't buy these takes:

a) I'm not expert, but I imagine that it would take a while to set this up with a major auction house...and the market dip is like 3-4 months old.
b) after watching most/all of the 'what's on' Armoury vids where he often does a wrist check, I dont recall him wearing any of these watches except for maybe the Naoya Hida...which means they were like true safe queens...whats the point in having close to $1M in watches sitting in a safe when its highly unlikely that the watch market will rebound to where it was during COVID
c) he's trying to buy real estate in NYC, so the timing is right for freeing up capital for a down payment when the real estate market downswings

a) He has Aurel Bacs on speed dial
b) I've seen him wear a bunch of those watches, so we'll have to agree to disagree on that point.
c) My broader point is that if you're selling your personal watches to maintain your business (or whatever), things don't look so good...real estate prices are falling, but rates a rising, so what you're gaining in the end price is being lost in the mortgage rate, no? Perhaps he's trying do the entire deal in cash, though? Anyway, just seems odd (to me...)

 

[mossrockss]

Nice watch, I would like it even more without those silly, pretentious stars.

you sound like my brother complaining about Tissot's "1853" on the dial. to hear him talk about it, you'd think it's as big as an ALS date.
that said i was with you on that at first, but it doesn't bother me now. would have to see how i like it in person of course.

 

[DorianGreen]

you sound like my brother complaining about Tissot's "1853" on the dial. to hear him talk about it, you'd think it's as big as an ALS date.
that said i was with you on that at first, but it doesn't bother me now. would have to see how i like it in person of course.

Sometimes text is very bothering to me, the more when it's absolutely redundant. A serious brand just needs to put its name on the dial.

 

[smittycl]

Sometimes text is very bothering to me, the more when it's absolutely redundant. A serious brand just needs to put its name on the dial.

Even small things can be distracting. I like these Longines watches but the little line of stars is a bit annoying. First World problem, I agree.

 

[Texasmade]

A serious brand just needs to put its name on the dial.

Rolex disagrees with you. How else would you know that you have a:
Rolex
Oyster Perpetual
Superlative Chronometer
Officially Certified
Cosmograph

Daytona

 

[DorianGreen]

Rolex disagrees with you. How else would you know that you have a:
Rolex
Oyster Perpetual
Superlative Chronometer
Officially Certified
Cosmograph

Daytona

In fact, totally redundant, totally bothering.

By the way, I genuinely don't understand how the (current) Daytona is so much desired.

 

[pmeis]

a) He has Aurel Bacs on speed dial
b) I've seen him wear a bunch of those watches, so we'll have to agree to disagree on that point.
c) My broader point is that if you're selling your personal watches to maintain your business (or whatever), things don't look so good...real estate prices are falling, but rates a rising, so what you're gaining in the end price is being lost in the mortgage rate, no? Perhaps he's trying do the entire deal in cash, though? Anyway, just seems odd (to me...)

A) doesn't matter who he has on speed dial, everything that I've always read about these auctions has indicated that they are planned months in advance, if not a full year.

Regarding C, from what he says at least, he doesn't have to do this to maintain his business, but he wants to own instead of rent. He hasn't indicated that he can't afford to keep renting. It also feels like Mark has a significantly high chunk of his own personal assets tied up into watches.

I'm more amazed at how he was able to amass such a collection. Yes, I know he says he bought a lot when prices were low, but I guess his business is extremely more profitable than I would have normally imagined.

 

[Dino944]

The dealers will be selling the CPO products with boxes and papers, which is why I mentioned it as "laundering." The papers will be different papers and the boxes will be brand new but I don't think that's really going to change the value. Maybe some people value the old boxes for vintage pieces, but for relatively recent watches like my Explorer, I doubt anyone cares whether it's a 2016 box or a 2022 box. Also, they will come with a 2 year warranty, which older pieces won't have.

I presumed, perhaps incorrectly, that if someone sells their watch to the Rolex Certified Pre-Owned Program and they have the original box and papers, the new buyer will get those in addition to the new certificate, which authenticates it and provides it will a new 2 year warranty. So all of these CPO Rolex watches have the 2 year warranty (just some would have all the original papers and boxes in addition to the certificate). But perhaps we don't have all the details yet.

 

[Omega Male]

Looking at the UK Bucherer site, where the program is already active, one can make a couple of initial observations.

-- There is a preponderance of precious metal and/or gem-set watches, which as we know are hardly the brand's best sellers. Easily 90% of the stainless steel offering is Datejusts.

-- Pricing is not very attractive. Random example a 116619 Smurf CPO for £49K where Chrono24 has a 2020 with B&P from a 4.9-rated seller for £36K.

-- They don't list the year of manufacture, which seems deliberately obtuse.

 

[edmorel]

This Rolex CPO thing is going to lead to some interesting conversations :

Customer- Hi, I’d like to buy a black dialed Daytona!

Dealer- Sorry, we won’t get a new one for another year and there are 20 people in line ahead of you. But you’re in luck, we just got a CPO model in and it’s only $30k..

Customer-

 

[Texasmade]

This Rolex CPO thing is going to lead to some interesting conversations :

Customer- Hi, I’d like to buy a black dialed Daytona!

Dealer- Sorry, we won’t get a new one for another year and there are 20 people in line ahead of you. But you’re in luck, we just got a CPO model in and it’s only $30k..

Customer-

Probably explains why Govberg got a lot of their AD statuses pulled once they started pimping the **** out of their Watchbox inventory.

 

[smittycl]