FabR
[Senior Patek Moderator]
26166
Agree, this has reached levels that are almost as insane as they are disgusting, and probably not only in HK...
The function of a watch to tell the time is perhaps long gone, but now we really seem to have reached a point that only a minority of the people into high-end watches view them as art rather than stocks. Not good!😇
And incidentally, did a grey dealer really have a 6300 on display?? I don’t want to know the money they were trying to make on a Patek with a USD 2.3 million MSRP...nor the name of the guy who flipped it!😉
Watches no longer tell time
or Date, They are nowadays an instrument to make money, this is what's happening to Rolex and Patek Philippe in Hong Kong. I can't speak for other countries because I reside in HK and I have noticed this trend over the last year or two, that people are sw...
Thank god there are still a few of us who buy watches because we appreciate their beauty..
craftsmanship, movement and heritage. Enjoy wearing them and not buy them as status symbols or to make a quick buck!
I’m with you on this...
Personally I enjoy wearing rare watches in daily life. It doesn't mean that I don’t care about them, it’s just that I don’t get hung up about values. People banging on about values just spoil the pleasure.
Same
I’ve encountered similar twice on two different visits to Hong Kong Must say I’ve not observed this phenomenon in Dubai Not saying it’s not happening here just saying I haven’t seen it (could be better hidden)
A classic case of a "bubble" that will burst.
Not predicting when, but it will happen. M4
Agree, this has reached levels that are almost as insane as they are disgusting, and probably not only in HK...
The function of a watch to tell the time is perhaps long gone, but now we really seem to have reached a point that only a minority of the people into high-end watches view them as art rather than stocks. Not good!😇 And incidentally, did a grey dealer real...
Everywhere is the same I think
It's unfortunate for real watch lovers without deep pockets but those even with deep pockets, it's still unfortunate IMHO For flippers/those in it only to make money (''I am a watch enthusiast just like you'' but has no watch at all except inventories), w...
Of all the watches I have bought, new or vintage, trust me its not that many I have NEVER sold or traded one.
I got them because I liked them and wanted them and never had any intention of "flipping" them, regardless of the profit. I don't have that many watches but I like and enjoy them all. I still have my original Huckleberry Hound watch my parents gave me whe...
I have observed that in Zurich last year when the GMT II "Pepsi" came out: all of the sudden you could get it for around USD 18,000+ on the Swiss competitor of ebay...
Most of these Pepsis were bought from one particular AD on Bahnhofstrasse, only to be resold almost immediately.
I've noticed the same.
When I started participating on watch forums in the late 1990's the talk was different. Back then it was mostly the true fans who spoke more of the technical side of our hobby. Now it's a race to get popular models at all cost just to say you have it. Som...
To inject a little good news into this discussion...
I know two ADs in Minnesota (just north of where I'm perched in Iowa) that would NEVER charge a premium on top of Rolex's set msrp. I've discussed this with both, and both agree that there's just no sense in gouging enthusiasts. The watches are expensive ...
Agree, to a point...all this nonsense, although very distasteful, only matters if you're chasing what everyone else seems to want.
We live in an age where there are more amazing watches for sale than ever before. The watch market is truly bountiful. Tons of great stuff out there for *real* watch enthusiasts who like watches qua watches, rather than mere ostentatious symbols of luxury...
I can’t help but agree with this.
And in a way, it’s dismaying that it’s the same everywhere I’ve been to as well. In Manila, Singapore, and even Japan I’ve walked into Rolex and Patek ADs with literally no stock of anything in steel... Yet somehow all the grey dealers in the same area ha...
Just don't buy them
This bubble is driven by fads and fads don't last forever. We are here for the long haul. In a few years when the bubble bursts, we can pick them up for more reasonable pricing. There are so many watches in the market now I don't understand why everyone i...