Monday, September 30, 2013

Rolex Ref 116506 Platinum Daytona is released, A good perfect watch for collector, may not be an investment item!

Rolex Daytona Ref 116506

Rolex 116506 Platinum Daytona Is now Released in Town on 1 Oct 2013.
A Good perfect watch for Collector, but may not be an investment Item for Speculator

There is no platinum Rolex has ever gone up in value EVER by all means…
Following typical platinum Rolex watch trends –

The following are examples of new and 1-2 year values of some platinum Rolex watches there are dozens of examples so the trend is quite telling same with the modern gold models.

Rolex Ref 118206

Day Date Platinum Ref 118206 HKD$430,000 ; HKD$283,000 (34% loss)

Rolex Ref 118366

Day Date Platinum Ice Blue Dial with diamond Bezel Ref 118366 HKD$908,100 ; HKD$426,000  (47% loss)

Rolex Ref 218206

Day Date Platinum with smooth Bezel Ice Blue Dial Ref 218206 HKD$487,100 ; HKD$315,000  (33% loss)
Daytona Platinum Ice Blue Dial Released 1 Oct 2013 HK Ref 116506  HKD$589,000, we foresee that the price will drop to HKD$350,000 Approx. in a year or two.

Definition on the prices:
The Original Price is Rolex AD list price, well, everyone can get less 5% discount.
And the price drop to is the selling price in eBay or pre-owned Rolex watch shop, in fact the price you sell to the Shop is even lower than that.
For an example:
Day Date Platinum with smooth Bezel Ice Blue Dial 218206 HKD$487,100  (list Price) you get less 5% discount will be HKD$462,745, after 1-2 years , you could sell at about HKD$267,750, then the shop could possible marked up 15% and sell at price of HKD$315,000.
So you loss is HKD$462,745-HKD$267,750 , that is HKD$194,995
The Shop earns HKD315,000- 267,750, that is HKD$47,250
If you are the second buyer, you could possible save HKD$462,745-315,000, HKD$147,745.  if you buy the pre-owned Day Date.
Why there is such a huge Loss on these model? As these are high end Watch from Rolex, the circulation in the pre-owned market is small,  on the other hand, these is lesser people eager to sell it into the second hand market. Since the price is still quite high to buy such a watch in the market, no one would likely try to consider to buy in second hand market.
Comparing with Daytona Stainless steel watch Ref 116520, the situation is totally different, The Loss is mush lesser, may be just 15% only for Daytona Black!
So in short, as a collection item, go for it
As an investment item, forget it…
HK Snob

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