You are reading a single comment by @nick_h. and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
@nick_h.
Are values crashing in the Far East? Christies just had an auction in Hong Kong. Some of the prices fetched seem low to my untutored eye https://onlineonly.christies.com/s/watches-online-hong-kong-edit/lots/3502?page=1&sortby=EstimateHighToLow For example, £23k for this gold Sub https://onlineonly.christies.com/s/watches-online-hong-kong-edit/rolex-submariner-ref-116618lb-97/216454?ldp_breadcrumb=back or £35k for this rose gold Day-Date https://onlineonly.christies.com/s/watches-online-hong-kong-edit/rolex-day-date-40-ref-228235-86/216440?ldp_breadcrumb=back
The FT had a long piece in March about dropping values. Some quotes: "resale market prices for luxury watches have now fallen for seven straight quarters, having peaked in May 2022"
"second-hand value of Rolex, Patek Philippe and Audemars Piguet watches rose nearly 50 per cent on average between the first quarter of 2020 and the same period in 2022... by the fourth quarter of last year those values had slumped more than 20 per cent."
"the price gap between Rolex’s second-hand and new models has narrowed significantly compared with the peak of March 2022, down to a 20 per cent resale premium on average today versus an estimated 90 per cent"
Looks like I missed my chance to get a good price for my Bell and Ross Hydromax.