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Rolex Steel Sports Watches Bubble or Investment Grade Collectables


M S E Refugee

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M S E Refugee

Has anybody got any thoughts on the crazy Rolex Steel Sports market.

Restricted supply and long waiting lists means it is possible to make an instant profit as soon you purchase one although the Rolex dealer keeps your warranty card for a year.

The recently discontinued Rolex BLNR is worth nearly double the original asking price on the open market.

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M S E Refugee
1 hour ago, spunko said:

Mass produced and made with machines, worthless/bubble.

I agree that they are mass produced but incredibly difficult to purchase.

You would have to wait around 5 years to buy a Rolex Daytona and you would to have a good purchase history to get on the waiting list.

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longtomsilver
8 minutes ago, Frank Hovis said:

@longtomsilver said that despite the trumpeted long waiting times he received his new Rolex in s couple of weeks.

Don't believe the corporate hype.

I had a no date Submariner that is apparently easier to get hold of than the date one. Told to expect to wait 6months-1year and had to act all surprised when I got the call  a week later (to collect) a week after that.

The Pepsi GMT-master II is clearly in bubble territory and was told I'd have to wait 2-3 years whereas a new customer 7 years if you could even get on the list. What that does do is make the other variants less desirable and I had my name down for the all black version to be told I'd get the next one in only to find it's been discontinued after Basel 2019. Damn!!! That one will increase in value in time... maybe.

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M S E Refugee
3 hours ago, longtomsilver said:

I had a no date Submariner that is apparently easier to get hold of than the date one. Told to expect to wait 6months-1year and had to act all surprised when I got the call  a week later (to collect) a week after that.

The Pepsi GMT-master II is clearly in bubble territory and was told I'd have to wait 2-3 years whereas a new customer 7 years if you could even get on the list. What that does do is make the other variants less desirable and I had my name down for the all black version to be told I'd get the next one in only to find it's been discontinued after Basel 2019. Damn!!! That one will increase in value in time... maybe.

I got a Batman last year and had to sign a contract saying that I couldn't sell it for 3 years although doubt if it is enforceable in law.

There was another guy picking up a Daytona at the same time and I am inclined to believe the hype and perceived lack of supply is a master stroke by Rolex.

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longtomsilver
15 minutes ago, M S E Refugee said:

I got a Batman last year and had to sign a contract saying that I couldn't sell it for 3 years although doubt if it is enforceable in law.

There was another guy picking up a Daytona at the same time and I am inclined to believe the hype and perceived lack of supply is a master stroke by Rolex.

I phoned up today to change the watch on my wish list to the jubilee batman and was told there's a hundred people who have already enquired so not a chance!!! Yours and the black one will go up in value no question about that. A masterstroke indeed both to yourself and Rolex. Lovely piece.

With Regards to the 3 year contract being enforceable - I doubt it would be however you'd find yourself marked on Rolex's blacklist as a 'dealer' so new Rolexes would be incredibly hard to come by, for you.. along with others who aren't in with a retailer already.

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M S E Refugee
10 minutes ago, longtomsilver said:

I phoned up today to change the watch on my wish list to the jubilee batman and was told there's a hundred people who have already enquired so not a chance!!! Yours and the black one will go up in value no question about that. A masterstroke indeed both to yourself and Rolex. Lovely piece.

Don't worry I think you have every chance of getting one within 12 months as I think there isn't a shortage it's just that the waiting lists are carefully managed.

If you are in London its a different market altogether and probably impossible to buy a sought after model unless you are a Whale.

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Castlevania

I in my younger days worked as an auditor and in your first year you got picked on to go and do year end stock takes. I did the stock take for Rolex UK back in Christmas 2006. The days of plenty, the peak of the boom before the financial crisis hit. Back then their cheapest watch was £4K. They’d sold out of everything priced at less than £20k. A couple of years later you could buy said watches for a song.

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  • 1 month later...
On 28/03/2019 at 12:50, longtomsilver said:

I had a no date Submariner that is apparently easier to get hold of than the date one. Told to expect to wait 6months-1year and had to act all surprised when I got the call  a week later (to collect) a week after that.

The Pepsi GMT-master II is clearly in bubble territory and was told I'd have to wait 2-3 years whereas a new customer 7 years if you could even get on the list. What that does do is make the other variants less desirable and I had my name down for the all black version to be told I'd get the next one in only to find it's been discontinued after Basel 2019. Damn!!! That one will increase in value in time... maybe.

The date doesn't matter with a diver's watch, as you usually have to come up for air in 40 minutes.

On 29/03/2019 at 19:20, Castlevania said:

I in my younger days worked as an auditor and in your first year you got picked on to go and do year end stock takes. I did the stock take for Rolex UK back in Christmas 2006. The days of plenty, the peak of the boom before the financial crisis hit. Back then their cheapest watch was £4K. They’d sold out of everything priced at less than £20k. A couple of years later you could buy said watches for a song.

I got an Omega in 2008, when they were cheap.

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Lightscribe
On 28/03/2019 at 16:51, M S E Refugee said:

I got a Batman last year and had to sign a contract saying that I couldn't sell it for 3 years although doubt if it is enforceable in law.

There was another guy picking up a Daytona at the same time and I am inclined to believe the hype and perceived lack of supply is a master stroke by Rolex.

I had one but sold it. Maybe I should have kept it  but I’m happy with my decision.

I actually got mine using club card points, yes you heard right club card points. X3 at Goldsmiths and only Goldsmiths in Canary Wharf stocked Rolex. I mainly bought and sold large amounts of lego and used Tesco point promotions and points for recycled ink cartridges (used to import empty ones cheap from the US) and saved for a two years. 

I was too tempted to sell at Watchfinder for RRP, and bought a DateJust II from Iconic watches with the proceeds (EU imports for much less than UK RRP) also because I thought the BLNR would be too bling to wear later in life and more chance of standing out too much and being mugged.

 

100A5232-85BB-4941-A3D9-62044E82CAC5.jpeg

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longtomsilver
4 hours ago, MrPin said:

The date doesn't matter with a diver's watch, as you usually have to come up for air in 40 minutes.

I got an Omega in 2008, when they were cheap.

That made me laugh and it's true. Mine has more pedigree. 

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4 hours ago, longtomsilver said:

That made me laugh and it's true. Mine has more pedigree. 

Boy's toys I guess. I like mechanical things. One of my mates treated himself to a TAG, but he bought a battery powered one. I didn't like to tell him that was "wrong".:CryBaby:. Sure I like the Rolex, but a bit too bling for me, and I don't want to be a muggee.

 

As for investment potential, I would say very little, unless it's really special. Some of those older classic ones fetch a bit, because they are almost antiques.

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Great Guy

There seem more and more people with smart watches... I can't help thinking that in ten years time a mechanical watch will be an oddity and not really worth much.

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longtomsilver
36 minutes ago, Great Guy said:

There seem more and more people with smart watches... I can't help thinking that in ten years time a mechanical watch will be an oddity and not really worth much.

I disagree. I thought the smart phone/iPhone would have killed wearing a watch and it didn't. 

More people are wearing watches because of smart watches and there's a crossover. If anything this will increase their desirability as watches in general are back in vogue and some will want more than one - perhaps a dress watch etcetera 

I was cynical before I acquired my first Rolex last year and I wouldn't be without it now. It gives me immense pleasure. Last night one of my new co-workers noticed it (3rd person in a year) and at his age (18ish) must be more of a connoisseur than myself as I certainly wouldn't have noticed up until last year. 

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Castlevania

I don’t wear a watch and the whole luxury watch market goes above my head. It’s man jewellery to show off.

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Frank Hovis
22 hours ago, Castlevania said:

I don’t wear a watch and the whole luxury watch market goes above my head. It’s man jewellery to show off.

Yes, that is rather the point of it when you can get the same functionality from a £5 Aldi watch.

I haven't got one but may do; it's the sort of unnecessary purchase that I would make to mark a personal achievement.

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Dave Bloke
On 27/03/2019 at 15:35, spunko said:

Mass produced and made with machines, worthless/bubble.

My office in Geneva used to overlook the Rolex place in Carrouge. All I saw were people slaving over watches all day assembling them, didn't see too many machines but all the people say they are built with robots. Maybe the people I saw were assembling something else?

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  • 2 weeks later...

Get a cheaper brand automatic watch.

 

Honestly if I had the money for a Rolex I would buy a JLC.

Rolex is just bad taste

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longtomsilver
On 16/05/2019 at 21:16, No One said:

Get a cheaper brand automatic watch.

Honestly if I had the money for a Rolex I would buy a JLC.

Rolex is just bad taste

If so consider the Oris brand that are both visually pleasing and relatively good value for the money.

They ooze quality, the case diameters aren't excessively oversized (~40mm sweet spot for me anyway) and the business isn't part of a luxury brand group of companies like Cartier et al

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M S E Refugee
On 18/05/2019 at 16:00, longtomsilver said:

If so consider the Oris brand that are both visually pleasing and relatively good value for the money.

They ooze quality, the case diameters aren't excessively oversized (~40mm sweet spot for me anyway) and the business isn't part of a luxury brand group of companies like Cartier et al

The new Oris Bucherer Blue editions Watch is a stunner.

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