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

[mebiuspower]

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?

Maybe he bought too much crypto...

 

[9thsymph]

Maybe he bought too much crypto...

I mean...

 

[kongmw]

66 ******* watches!!! That's a shitload of money tied up into watches and it's not like he owns a bunch of cheap stuff either. A collection that big has to cost a **** ton to insure and I can't imagine storing all that in a deposit box.

I'm keeping a (browser) tab on the auctions not because I can afford any of his pieces at auction prices, but rather am interested in adding it all up when the auctions end and seeing how much the whole lot will have sold for.

 

[mossrockss]

I don't have 5 picks but the Longines Zulu Time is my fave release this year. Haven't seen it in the metal yet so it might not delight in person (and is Longines too poor for this thread?), but the real-world pics I've seen make it look super great. Next time I'm close to the Longines AD I plan to stop by and check it out.

Pie in the sky favorite watch of 2022 for me is the Moonshine gold Speedy, green dial.

 

[chocomallo]

Well if I buy a Rolex I will also become an expat.

An interesting twist on a Rolex as currency. Until recently, the tale goes that you can use a Rolex to negotiate in a pinch in the less safe parts of the world.

Perhaps now acquiring a Rolex should be viewed as having obtained access to the safer parts.

 

[chocomallo]

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!!!!

The Germans have that big date energy that smittycl is jealous of.

 

[chocomallo]

Maybe he bought too much crypto...

In any event, there is a Caribbean AD who has blacklisted Mr. Cho as a flipper. That’s what matters most to true TWATs and FARTs. Good riddance to his place on the wait list.

 

[Dino944]

My initial thought about Rolex CPO ... And I would imagine they will be able to sell it for the same price as one with full B+P from original purchase. So the value for my piece just went up.

Also for lazy sellers (also me), it should be much easier to just go into a CPO AD to unload pieces because those ADs will be able to sell at a relative premium to everyone else and will be able to pay more.

Overall it hurts a lot of people currently in the pre-owned Rolex market, but it will definitely help a few people.

I'm sure it will make yours without box and papers easier to sell than it used to be. However, l believe that a piece with box and papers will continue to sell for more than a piece without. Why, because its not just about whether the piece is authentic. You could get your watch serviced by Rolex and it would have the service papers, to show its real.

So why do I think Rolex with box and papers sell for more than one without, because there are still silly people like me who value completeness. When it comes to a classic car, we want everything the car came with when new, owner's manuals, all sets of original keys, key fobs (believe it or not original key fobs from Ferraris can easily go for $1,000 on the pre-owned market), original tool set, original jack set etc. I'm the same with watches, and I know other watch collectors who are the same. If I can get one that has box and papers for the same price as one without, why would I buy the one without? Also, hasn't that always been the reason some people will buy them without box and papers - they buy from a reputable place, they want to save some money, and they don't really care about boxes and papers. Dealers know some people will pay more for a watch with box and papers so I'm sure they will continue to charge accordingly. I think there will always be a market for watches with boxes and papers and for those without...its just a different client even if its for the same model of wristwatch.

 

[UnFacconable]

I'm sure it will make yours without box and papers easier to sell than it used to be. However, l believe that a piece with box and papers will continue to sell for more than a piece without. Why, because its not just about whether the piece is authentic. You could get your watch serviced by Rolex and it would have the service papers, to show its real.

So why do I think Rolex with box and papers sell for more than one without, because there are still silly people like me who value completeness. When it comes to a classic car, we want everything the car came with when new, owner's manuals, all sets of original keys, key fobs (believe it or not original key fobs from Ferraris can easily go for $1,000 on the pre-owned market), original tool set, original jack set etc. I'm the same with watches, and I know other watch collectors who are the same. If I can get one that has box and papers for the same price as one without, why would I buy the one without? Also, hasn't that always been the reason some people will buy them without box and papers - they buy from a reputable place, they want to save some money, and they don't really care about boxes and papers. Dealers know some people will pay more for a watch with box and papers so I'm sure they will continue to charge accordingly. I think there will always be a market for watches with boxes and papers and for those without...its just a different client even if its for the same model of wristwatch.

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.

 

[DorianGreen]

I don't have 5 picks but the Longines Zulu Time is my fave release this year. Haven't seen it in the metal yet so it might not delight in person (and is Longines too poor for this thread?), but the real-world pics I've seen make it look super great. Next time I'm close to the Longines AD I plan to stop by and check it out.

Pie in the sky favorite watch of 2022 for me is the Moonshine gold Speedy, green dial.

View attachment 1863048

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

 

[DorianGreen]

The Germans have that big date energy that smittycl is jealous of.

Genuinely curious about the great consideration, which those German brands seem to enjoy in this forum. Besides any technical aspects, in which they are undoubtedly strong, the style is not appealing to me. Even in a variety of models, the majority of them is identifiable as German (I mean it in a negative way), with those big dates, asymmetrical dials, weird (old-fashioned) Arabic numerals, simply straight lugs.

 

[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...)