The lesson is only buy an expensive watch if, it is spare money, you desire it and it looks good on you. If the watch appreciates in value; that's a bonus.
@@2011blueman Hmmm, not sure that’s an accurate assessment. A timepiece does not require insurance, registration, fuel etc…like a car…which is a true expense. A watch…It’s functional, tells time and is often the ONLY form of jewelry a man wears. Expensive? Can be but hey, you only live once, right?! Cheers!
@@rajeshupadhyay5683 I'll suggest you lookup Priscilla Dearmin-Turner, she's the real investment prodigy since the crash and have help me recovered my loses
So pleased that this is happening, not because watch enthusiasts are losing money, rather that greedy grey dealers who hold back watches to inflate prices are taking a hit. Maybe someday Rolex will return to sensible prices.
This guy saying “there is a dip” in the luxury watch market is like a real estate agent or mortgage broker in 2008 saying the housing price crash is a “small blip.” Michael is spot on. This watch dealer looks like he’s rearranging chairs on the deck of the Titanic.
This guy is just "hurray-optimistic", believes that bull market never ends and there are only corrections (or as he says dips). The truth is that no matter which market you are in (stocks, forex, crypto, watches etc.) it all works in the same frames. The inflation and interest rates are rising worldwide, cost of money is raising, consumer mood indicators are hitting new lows. Unfortunately we have to face it, that bear market is very plausible or even it is already an fact. He just seems not to understand basic economy rules.
Is kinda da same wit sneakers retail could be 100 too 200 depending da shoe n now resell like 500 to 2k depending on wat Shoe even bricks shoes even climb up soo yeaa but watches are better investments of course.
Exactly, and the business owner knows it hence he's already taken action and drastically reduced his stock. Might seem that the people within the current crazy world of watches constitute to be a sizeable percentage of the population, but they're not. The vast majority of people need a super-overpriced watch as much as they need a hole in the head. Unfortunately this is only the beginning of the crash.
lol the watches have dropped a tiny amount in the last two months they have gone up 500% over the last year, this isn't crypto or NFT's watches have a built in physical value, they are not going to go to zero, people will only lose money on the watches if they purchased them to sell for a profit.
@@alanzyoutube yeah, but a lot of their value was pumped due to speculation and flippers. They could stilk go below msrp. In a recession, people sell their luxury items hand over fist.
@@lastminute2607 wait it out. Even dealer like Seth says the price will dip even more. Nobody can foresee the magnitude but the downward trend is pretty clear.
That's not a dip, that's their real price and still not even close probably to the real price, the watch market is so pumped by those flippers just because the margins are so small that doesn't worth flipping if you don't pump the market
Sportscards just crashed and many collectibles have tanked as well. Jordan rookies were 700k for a psa 10 and now are 160k. Its nice to see markets going back to normal finally.
A market pumped by those people who buy them for investment and ended up with a bunch of watches at a high price but no one buying them, time passes and they need to sell them, so going down again
I'm glad the bubble has finally burst and those, both dealers and flippers, who ruined the market are getting what they deserved. All those weirdos dropping 50k over MSRP are now crying.
Yeah, just like how all of the AD’s insisted that you had to set up private viewings and their store was always empty. They have sign spinners on the street corners now, begging us to come in. 😂
Precisely. If a grey market dealer buys a watch for 10k and all of a sudden it’s only worth 8k then he will never say “oh yea the market has topped out and prices will come back down”. Hell no. That guy is losing money and needs the market to keep going up.
Guys, this is the end of cheap money. For the last 14 years interest rates have been extremely low. This has inflated assets on an unbelievable scale. This includes equities, bonds, real estate, fine wines, watches etc. This is not just a dip!
Michael is a perfect example of why watch prices are depressed right now. The lack of law enforcement and sensible deterrents for violent crimes has led to many owners not wearing them, instead leaving them in the bank. How many times have you seen Michael bare of ANY jewellery?
That is not how supply and demand works. More watches in the bank means less on the market, demand might have decreased due to crime but obviously not by much if you look at the market versus MSRP or prices a year ago.
@@theoneandonlybosable ultimately the horders/flippers need a guy at the end of the line that is willing to buy a watch and wear it. People who buy from guys like Seth are not “investors”. The “investors” (flippers) are getting their watches from ADs. When prices were going up, dealers were selling to each other but now, the smart ones are doing what Seth is doing, running lean and not taking unnecessary risks.
@@theoneandonlybosable Are you being sarcastic??? If no one want to wear their watch, no on e want to buy a watch. Is this hard to understand. There is no such thing as when watch are in the bank there are less watch in the market. If people want to sell it doesn't matter where the watch is it going to flood the market.
The collapse has taken a different turn, these are the conditions where life changing money is made to those that stay calm, are patient, and take controlled risk. Volatility goes both ways. Larger the red candles the larger the green ones.
Some traders enter the market with the intention of predicting market movements. They trade what they want to happen, but the excellent ones enter the market with no expectations, ready to watch and act when the timing is right.
The prices largely follow the stock market. When prices are going up, people are in line to buy. When prices are falling, people are lined up to sell. It's not complicated, folks.
The watch market peaked and this is the beginning of the decline. It isn't a dip. People with money can ride this out for quite a while but anyone that's overextended is going to be hurting until the economy takes off again. Who knows when that will be.
Say you paid 300k for a watch list price 90k. It will be 30 years before you get your 300k back. Youve all been played for suckers because of YT. The dealers have made millions, youve lost the price of a house. Dutch Tulip Bulbs folks.
For me it was inevitable the watch market was going to crash, alot of people making alot of Money on massively overpriced watches... if Rolex themselves see a watch at 45k retail, why should it be worth 100k?... always going to happen.
It was also becoming hard for the dealers, the amount of money they had to spend just for a small margin was too big. Plus correction is the word you are looking for, not crash.
Why is the margin small? He said that someone with a 140k watch could sell it now for 120k. But the dealer buys it for 90k, that looks like a big margin to me? Or is it normally even higher?
@@Irishboyz Yeah, because overheads these days are quite large. You still make money, but investing $100k to make perhaps $10-20k is, IMHO, not worth it.
@@mitchellkepel6269 The gray market seller could maybe buy it for $90-$100k from someone, and price it for $120k. Which is already not a huge margin considering the large investment in just one piece. On top of that, if someone wants a 10% discount, you’re at $108k, meaning you’re making $8k to $18k (which is not a lot in the watch business), but if someone wants a 20%, or 25% discount, you’re losing money. Gray market resellers work on volume, and relatively small margins (especially on the most popular models), so when you combine a drop in margins with a lack of sales volume, it’s bad news. With that said, the way most grey market resellers were doing business, we can all agree that it’s their fault that this market correction is occurring. They just wanted to push the prices waaaay too high, and they reached the price ceiling.
That's not quite true is it. Rare models and models that are discontinued will always have a premium. Otherwise we'd all be driving round in Ferraris from the 60s as they'd only be worth $10k.
@@SimulatorWhiz How delightful of you ti chip in. He did say that, yes. However if you'd bothered to read the rest of his sentence, he said '...or any luxury watch...' So tell me, what exactly is your point?
7:53 - When Beverly Hills is becoming a crazy place so much that you cannot wear any valuables, the wealth disparity in the US is getting so bad that no where in the USA is safe any more.
It would explain why I’ve seen other watch collectors like Nico Leonard start to sell their watches. Nico mentioned he’s selling his watches to buy a new house, but now I’m thinking it could be because he’s anticipating a crash.
The war certainly isn’t the only factor, but this dude clearly has wealthy Russian clients that can’t buy right now. Grey market stooge like him almost certainly is deeply invested
The second hand market or grey market was always inflated from the start a watch no matter what kind is only worth what people are willing to pay for it and that IWC and ceramic panarai are absolutely gorgeous
When Seth decided to sell his business a couple of months ago, you knew that this was the top of the market... It is called "90210 watches" all of a sudden for a reason. Because his original company he sold.
Thank you Michael 🙏. I bought my first Rolex from Seth. I’m really happy with the watch and Seth gave me the best customers service. Very professional. I’m looking forward of buying another watch from him soon.
It is going to be like comic books and baseball cards. It went up in price out of nowhere and came back down. Comic books and baseball still have value, but the hype and flippers rise up the price. They both went down to normal value after the hype went away and are still around as niche hobbies.
The prices will continue to go down to list and less for most watches as the flippers get out of the market and try to get rid of what they have ASAP. The real watch collectors are not that many to inflate the market this way.
Most who had money dont anymore, every day things will keep going up and most will eventually have to sell for less than they paid. Same with cars, houses and other expensive things.
The way the watch prices went up clearly did not make sense. What goes up like this will go down. Look at Chrono for any watch and the inventory is 20-30% higher than couple weeks ago. There is a lot dumping going on especially with flippers.
Sooner than later you will be able to get that GMT at your local dealer with no wait as the flippers clogging the lists will vanish once they realize there's no profit for them anymore.
@@samuelburton5576 So you expect the prices to crash within a month? Nothing goes up or down in one straight line. It took 4 years to reach these prices with all the printed and free money. Follow the trend, the trend is down. Considering what's going on in the world and higher rates the market will go down further from here. Give it time until the Autumn of 2023 to unfold completely.
@@samuelburton5576 Stock market, Crypto market, and watch market have been behaving the same for last 4 years pretty much. The question should be what is going to change this trend? Hey you know so well, go buy some pieces since it's already hit rock bottom right?
Nice work Michael! Great questions… spot on. Dealers are a bit delusional right now, what interest would they have in talking down their assets… none🙄 They’re going to ride the Titanic down because they’ll have have to make the hard decision to or sell these assets at losses or for nearly no profit.
The reason the stainless steel watches shot up so much was because all the diamond jewellers bought every steel Patek, AP and Rolex they could get their hands on to ‘ice out’. Then the optimists realised and sold theirs with a view of making a quick buck and buying a replacement at MSRP from a AD but the covid lock down and the manufacturers limitations lead to low stock and high demand so the prices went through the roof.
2 years of watching and enjoying the crazy prices of watches, then boom the market has collapsed!! To be fair to Michael, he’s always said the prices couldn’t be maintained. Reminds me of the move the Big Short “we are in a itsy bitsy gully” 😀
Ofcourse macroeconomic factors influence the price in a certain market, but people need to understand the sine wave of price. The market goes from underbought to oversold. anywhere inbetween people will say it's crashing or skyrocketing. While you should only really use the term crashing for when price reaches a new all time low or skyrocketing when price reaches a new all time high. Also price depends on supply and demand and when price reaches a new high alot of people are likely to sell off their investments, causing panic amongst investors when prices drops a little so they start selling too. Eventually it will reach a point where the most investors feel comfortable buying again and the whole process repeats. It's been happenings for decades
The Octo Finissimo the most underrated watch this days, peolple don’t know how classy that watch looks and even has a record for the most thin watch made.
so it's like any controlled market. diamond dealers keep dimonds in short supply to keep the price high, just like the watches. The watch dealers dont want people flipping watches because it would hurt the sale price. makes sense to me.
michael just pointed out the most overlooked concern for the watch market going forward. SAFETY and as the economy continues to deteriorate more and more wealthy will be very cautious and not show off their wealth. nobody wants to be a target.
that has been happening for decades in a lot of countries. A robbery in a jewelry store and Michael is panicking, imagine if he lived in a South American country. He wouldn't leave the house.
We went from Michael buying 150k in watches from Seth's store to a wachless Michael on a crashing market with a bearded Seth with no store just a seller.
Its not the war. Its the federal reserve and interest rates. Money policy is tightening. Profits are tightening. Stimulus and cheap money has dried up.
Oh come on guys, the dip in prices is NOT because of the war. Let’s keep the narrative real and this would be an even better channel than what it already is.
100% truth. That really bad deflection. The economy was down treading in Feb, the luxury market typically peaks a few months after that turn, then implodes. This is the start of the implosion. 'nothing is crashing' two weeks into a crash which typically takes 4 months to bottom out. War ending, will not change the economic constraints. Russia gives up tomorrow, we aren't going to suddenly reverse embargos and sanctions. Thats wishful thinking, they can't truly believe that.
When people stop wearing expensive watches eventually people will stop buying as the fall in demand will adjust the market. Dealers will have expensive overheads if they sell fewer watches so be forced to reduce their prices , they can hold out for so long but eventually markets will adjust. The lesson of the Dutch tulip boom of the 17th century will always be revisited .
Greedy gray market dealers (that doesn’t mean the guys like Seth and Roman Sharf, rather the newcomers wanting quick money) shot themselves in the foot, pushing prices higher and higher made them hit the price ceiling sooner rather than later, which is now affecting everyone for better or for worse. This isn’t a dip, it’s a market correction towards realistic prices, and you know that ADs don’t give a damn about this since their prices are fixed anyway. We could be expecting a relatively normal market in a year or two. And remember, watches aren’t investments!
I’m not going to shed a tear for the greedy speculators out there who thought they would take advantage of the collective hysteria and naivety of other fools who were just ASKING to get scammed! You’re absolutely right, a watch is not an investment! It’s something you should buy because you like it and you can afford it, and you are not going to go into debt to acquire it!
You can see the pain in his eyes. That's what you get when too many people speculate on something, there are going to be a lot of people holding the bag.
Really like how honest he was at the ending. Speaking out that he thinks the market will probably go down a little further isn't good for his business but honest..
Michael doesn't look like himself. His whole demeanor. He is a super nice guy and he actually loves his watches and now the stress to walk out the house with them. The smash and grab thing is happening everywhere now. It's craziness and stupid. Hang in their Producer Michael. Don't stop driving your cars. 👊😎
He's in a tough place because his business is in LA so he can't easily escape to a safe part of the country. Plenty of paradises without crime for the wealthy here in the USA but none of them are in California unfortunately...
You've gotta wonder how much of the smash and grab people are illegal immigrants and refugees. Maybe we should stop unknown individuals from flooding into our country so we can figure out what the hell is going on? A lot of these smash and grab people are part of black market eBay operations. We need law and order restored now.
The 'smash and grab thing' as now travelling around the world. In the UK we have today been treated to the appalling sight of a Labour MP espousing the defund the police mantra.
Isn't it funny how difficult it is to talk about Prices and Values when the dealer is always trying to scalp you by 50%? 😂 "Well see.... The CONSUMER could maybe still pay 140 for this watch, but a DEALER wouldn't buy it for 90..."
As of today September 8, 2022, a dealer can hope to sell a daytona Green for 90-85k while 3 months earlier he would have bought it for that amount. So today how much does he buy it for ? At best at 70k
Flippers will flood the market and prices will continue to drop a a result. Most work with a buy to sell system and therefore they can't afford to wait. I've seen Rolex GMT Batman at 16k from the previous 22k price on Chrono.
Seth has aged- you can tell this crash/correction is stressing him 🤣 dealers are all lying about how much this is dipping- ask him the price he would pay for a watch right now, most dealers aren’t buying watches today. That’s a scary thought
Seth does not have a poker face, his demeanor and body language showed fear, he knows the bubble has burst compared to previous videos where he was joking relaxes and happy
@@sirgeorgioalastrata4104 but for it to be safe nowadays, it has to be patrolled by armed guards like as if it was Kabul or Baghdad. A place that once was deemed the safest, where men would flaunt their new gold watches in safety, and where mistresses would go on lavish shopping sprees with wads of cash while wearing diamond colliers, is now like the backstreets of Kabul. And that's just the main shopping street. No armed police guards can ever guard all the residential streets. Back in the 70's home security was basically non-existent. Nowadays every house has cameras, safety doors, alarms etc... all for nothing because these career criminals know that Commiefornia will not punish them. So on Monday they get just a slap on the wirst for burglarizing a home, and on Wednesday they happily continue with some casual car break ins...
What is being said about pricing on these watches is that the “asking price” is super high, but that is not what they are actually selling for. Crono 24 is not the actual prices for these watches
This reminds me of the Dutch Tulip Bulbs which went up above the average labor annual pay and suddenly crashed. They literally couldn't sale a single bulb. Dutch Tulip Bulbs were a popular recreational item among the wealthy like watches. Dont buy watches as investments. They literally can ruin you financially if it crashes. Buy watches that you like and can enjoy.
If they were investments, then at a minimum Warren Buffett would've talked about it. But, he's simply too smart to 'invest' in art, vehicles, watches, etc.
The "Tulip Bubble" was caused by people trading tulip bulb futures (promissory notes for bulbs yet to be produced) with no oversight or accountability.
Watches are waaaaaayaayayayay over priced. No one was paying 2018 prices, then people wanted to pay 50/100/300% more 🤔 hype markets are crashing( sneaker, crypto,stocks,jpeg,etc)🤷♂️
@@jeanmendez718 if u can get in with money u ok losing , it’s ok. Over 90% ok crypto is going to fail and the stocks u seen losing 50+ billions, had hype value only because of covid n free money.
the real price for watches and jewelery is 10-15% of the market price. for diamonds its max 5%. so if you buy a watch for 10k, 1 - 1,5k is the "real" value.
How do you measure the real dip? With real sales, not with the asking price. Watchcharts, ebay sold items, not asking prices on C24. Another good way to know is to compare today's trade-in price from a dealer with the price before the dip. Dealers will offer 20 to 40% less today to a seller, that's if they take any more stock at all. So they're expecting the market to tank up to - 40% or more if they're not taking stock.
Watch market crashing hard. Dealers trying for damage limitation but it just delays the inevitable. Also interesting Michael fearful of wearing openly in Beverly Hills.
really?? here in indonesia rolex almost priced triple from msrp in the brand new in box never worn "2nd hand" market, while the AD always insist out of stock and long waiting list.
California chooses to protect criminals over law abiding citizens. Who in their right mind wants to protect criminals and make communities less safe? The literal definition of a government is to protect its people.
We all love Michael, but that isn't sad. What is sad is that 80% of the US money supply was printed in the last 2 years. Inflation is going to make life really hard for normal people. Michael will be fine not wearing a watch for a while.
Even with low inventory, Seth is always cool. With rates going up, investors are pulling money out of hard assets & its not the oligarchs that sets the watch market.
So the root beer GMT is an example of a watch that’s come down from $30k to $25.5k = 1) dealer being greedy to begin with if he can drop $4.5k and still make a decent profit and 2) a dealer who knows what is happening in the wider economy and shitting himself
The Russians won't be buying luxury watches or anything else for a very long time, even if Putin pulls the troops out of Ukraine tomorrow afternoon. The sanctions are going to there for decades to come. Sorry for anyone who was making money off of dirty Russian money.
Watches are rarely an investment that appreciates, the exceptions are well known. Just buy a watch to wear and keep or collect and keep, you pay what you think its worth, not the market. Most young people are not even wearing watches anymore - not good for long term outlook. Buy because you want it, not what others think.
The crazy principles of the stockmarket reflected in watch prices. At least in the stockmarket, the intention is really to profit. You don't buy stock to look at it and admire its beauty. It's a fictional item that has value. In the watch world, it spoils the essence of watch enthusiasm, where profiteers take watches away from watch lovers.
Well given that Seth is the "Grey Market" and trying to save face saying it's a small dip is comical. Off camera he's shitting bricks because he's getting hosed with all those Over Hyped Watches and the market is crashing right in front of his eyes. Only getting worse with inflation at 8.5%, gas prices rising, crypto crashing, stocks crashing, and a recession lurking in the closet. Kudos to you Mike for asking him hard questions and putting him on the spot. In it to win it! Stay safe out there Michael.
Well this has aged well lol. All those watches have lost another 20-30% in the Grey Market and continue to crash. Let's see how old boy Seth is feeling now.
Right the thing is the average American is not going out buying a $50k watch when they live pay check to pay check the people who come in to buy watches are the people who do not want to buy these watches rn because they know they are worthless…
I'm going nuts here. The war in Ukraine would have nothing to do with the watch market going down. Indirectly, sure, the economy as a whole has gone down for a number of reasons, including a war in Ukraine.
Everything is crashing. We are at the beginning of a HUGE recession. If you haven’t already noticed it. Stocks are down, watches are down, real estate is coming down everywhere, I’m not gonna lie it hurts but it’s good. All these things have been blown up artificially. These bubbles have to burst. It’s utterly ridiculous and had absolutely nothing to do with supply and demand anymore.
The lesson is only buy an expensive watch if, it is spare money, you desire it and it looks good on you. If the watch appreciates in value; that's a bonus.
That should have been the rule everyone follows. Watches are NOT an investment, they're an expense.
Yup, if u like and can afford with ur saved money then it buy it .. don’t buy to flip it
It peaked, now the fashion hype is over
Unless you’re a grey market watch dealer……………which is some folks LIVING/JOB
@@2011blueman Hmmm, not sure that’s an accurate assessment. A timepiece does not require insurance, registration, fuel etc…like a car…which is a true expense.
A watch…It’s functional, tells time and is often the ONLY form of jewelry a man wears. Expensive? Can be but hey, you only live once, right?!
Cheers!
It’s kind of ridiculous. Michael is right, dealers inflated the prices, now….no one is buying and dealers are dumping product.
Well said! Investment over here so frustrating
@@rajeshupadhyay5683
I'll suggest you lookup Priscilla Dearmin-Turner, she's the real investment prodigy since the crash and have help me recovered my loses
Despite the economic crisis and the rate of unemployment now is the best time to invest
A news host spoke so highly of💕 Priscilla Dearmin-Turner and her loss prevention strategies
Thank you, Going through her profile in her webpage, she smashed all her state certificate and accreditation
So pleased that this is happening, not because watch enthusiasts are losing money, rather that greedy grey dealers who hold back watches to inflate prices are taking a hit. Maybe someday Rolex will return to sensible prices.
Won't happen, but you can dream.
@@apeekintime agreed 😕
Reasons why I'm an Omega person 24/7. Rock on!
It will return. With 800,000 annual watches, they cant keep hoarding. Also many people aren’t collectors, just ‘investers’
@@BobbyDazzler888 800k supply but probably more than 100 million people demanding for one or a few watches. You do the math
This guy saying “there is a dip” in the luxury watch market is like a real estate agent or mortgage broker in 2008 saying the housing price crash is a “small blip.” Michael is spot on. This watch dealer looks like he’s rearranging chairs on the deck of the Titanic.
This guy is just "hurray-optimistic", believes that bull market never ends and there are only corrections (or as he says dips). The truth is that no matter which market you are in (stocks, forex, crypto, watches etc.) it all works in the same frames. The inflation and interest rates are rising worldwide, cost of money is raising, consumer mood indicators are hitting new lows. Unfortunately we have to face it, that bear market is very plausible or even it is already an fact.
He just seems not to understand basic economy rules.
Ever heard of market corrections? High-end markets like the watch market only go one way in value over time, up.
LOL. He probably is used to buying the dip.
@@madlad847 Except when it doesn't.
@@madlad847 ever heard of bubbles?
If it’s “just a seasonal dip” every dealer would be loading up on more stock…
The fact that they are holding off and not acquiring more says a lot.
Why would you that be stupid
Yeah logical
Paying 300k for a watch that listed for 85k just doesn't make any sense. Paying crazy prices for a watch because Drake wore one is also insane.
Drake got his at retail lol.
Yep. "fools and their money..."
Is kinda da same wit sneakers retail could be 100 too 200 depending da shoe n now resell like 500 to 2k depending on wat Shoe even bricks shoes even climb up soo yeaa but watches are better investments of course.
What if it takes 6 years on a waiting list to get you that watch for 85k? Thats what makes them expensive. Limited production and high demand.
Who is Drake? 😄😅😂🤣
There's a lot more wrong with the financial system than a war.
This dealer is saying what he needs to, to try and protect his business
Nah, it is all Putin's fault, NOT the Federal Reserve creating more currency than products. 🙄🙄🙄
Exactly, and the business owner knows it hence he's already taken action and drastically reduced his stock. Might seem that the people within the current crazy world of watches constitute to be a sizeable percentage of the population, but they're not. The vast majority of people need a super-overpriced watch as much as they need a hole in the head. Unfortunately this is only the beginning of the crash.
lol the watches have dropped a tiny amount in the last two months they have gone up 500% over the last year, this isn't crypto or NFT's watches have a built in physical value, they are not going to go to zero, people will only lose money on the watches if they purchased them to sell for a profit.
@@alanzyoutube yeah, but a lot of their value was pumped due to speculation and flippers. They could stilk go below msrp. In a recession, people sell their luxury items hand over fist.
@@lastminute2607 wait it out. Even dealer like Seth says the price will dip even more. Nobody can foresee the magnitude but the downward trend is pretty clear.
That's not a dip, that's their real price and still not even close probably to the real price, the watch market is so pumped by those flippers just because the margins are so small that doesn't worth flipping if you don't pump the market
Sportscards just crashed and many collectibles have tanked as well. Jordan rookies were 700k for a psa 10 and now are 160k. Its nice to see markets going back to normal finally.
It’s what happens when u print 50% the money and then 30% gets pooled into corporations that could survive all the limitations
Can’t agree more with you … again the influencers calling it as Dip which is actually not as you said perfectly…
RRP is the REAL price. Rest is bullsheet
A market pumped by those people who buy them for investment and ended up with a bunch of watches at a high price but no one buying them, time passes and they need to sell them, so going down again
This guy reminds me of the delusional realestate agent in The Big Short when the agent says the market is in “an itsy bitsy gully right now” 😂
I'm glad the bubble has finally burst and those, both dealers and flippers, who ruined the market are getting what they deserved. All those weirdos dropping 50k over MSRP are now crying.
Just like the housing market .
Yeah, just like how all of the AD’s insisted that you had to set up private viewings and their store was always empty. They have sign spinners on the street corners now, begging us to come in. 😂
... did seth really just blame it on "the war"...? lol. unreal. These Hollywood types really are out of touch
He has no idea and is just parroting the WH narrative.
Everyone knows that president poopy pants is a dumpster fire, a senile old coot who has destroyed our economy on purpose.
Why are the replies to this comment the only ones censored by youtube? Is it because the "type" Seth Rossman belongs to is protected by youtube?
You probably don’t realise how many rich Russian oligarch waste on luxury watches.
It’s like Biden blaming inflation on the war. No, just no. Inflation was coming before that war was even a thought.
🧢 don’t ask a second hand dealers they have to control the narrative
True
Exactly
Precisely. If a grey market dealer buys a watch for 10k and all of a sudden it’s only worth 8k then he will never say “oh yea the market has topped out and prices will come back down”. Hell no. That guy is losing money and needs the market to keep going up.
Don’t let guys like @crm @tpg @romansharf @luxurybazaar fool you guys
Like asking a barber if you need a haircut 😂
Guys, this is the end of cheap money. For the last 14 years interest rates have been extremely low. This has inflated assets on an unbelievable scale. This includes equities, bonds, real estate, fine wines, watches etc. This is not just a dip!
Someone awake 👍
Anyone who's paid $150k for a watch that was list price $40k and a year before was $80k who's now stuck $30k?
Darwinism has passed you by.
Michael is a perfect example of why watch prices are depressed right now. The lack of law enforcement and sensible deterrents for violent crimes has led to many owners not wearing them, instead leaving them in the bank. How many times have you seen Michael bare of ANY jewellery?
That is not how supply and demand works. More watches in the bank means less on the market, demand might have decreased due to crime but obviously not by much if you look at the market versus MSRP or prices a year ago.
They both look kind of disheveled.
Western civilization is a failed society.
- Tristan Tate
@@theoneandonlybosable ultimately the horders/flippers need a guy at the end of the line that is willing to buy a watch and wear it. People who buy from guys like Seth are not “investors”. The “investors” (flippers) are getting their watches from ADs. When prices were going up, dealers were selling to each other but now, the smart ones are doing what Seth is doing, running lean and not taking unnecessary risks.
@@theoneandonlybosable Are you being sarcastic??? If no one want to wear their watch, no on e want to buy a watch. Is this hard to understand. There is no such thing as when watch are in the bank there are less watch in the market. If people want to sell it doesn't matter where the watch is it going to flood the market.
The collapse has taken a different turn, these are the conditions where life changing money is made to those that stay calm, are patient, and take controlled risk. Volatility goes both ways. Larger the red candles the larger the green ones.
Some traders enter the market with the intention of predicting market movements. They trade what they want to happen, but the excellent ones enter the market with no expectations, ready to watch and act when the timing is right.
@@tradekings5433 one of the hardest things to do is train yourself to buy weakness, rather than selling in to it.
@@Natalieneptune469
@@feliciacameron9531 Susan Agnes Hancock. Look up her name on your browser for her page, where you can reach her.
Asking a second hand dealer of market will crash is as trustworthy as asking a fox in a hen house if he still likes chickens for dinner. 🦊 🐓
😊
The watch market has crashed. This dealer is trying to sugarcoat the situation.
@@sohayibsadie9543 its been skyrocketing for years and a fall of 5%-10% is what you call a crash? You are a smart one
:0))))))))
100%
The prices largely follow the stock market. When prices are going up, people are in line to buy. When prices are falling, people are lined up to sell. It's not complicated, folks.
feels like 90% of people in the comments don't know how markets and economics work yet all seem to be experts in investing.
As an individual that has always wanted to own a rolex, but doesn't have unlimited funds, the news of this market drop has me cautiously excited!
The watch market peaked and this is the beginning of the decline. It isn't a dip. People with money can ride this out for quite a while but anyone that's overextended is going to be hurting until the economy takes off again. Who knows when that will be.
Say you paid 300k for a watch list price 90k. It will be 30 years before you get your 300k back. Youve all been played for suckers because of YT.
The dealers have made millions, youve lost the price of a house.
Dutch Tulip Bulbs folks.
Wow you can predict the future 👏👏 do let me know when will the Rolex Ad have available stocks too ha ha
There is still a large demand and a limited supply that is about to become more limited.
@@1mmickk we’ll see. All speculation
_"The watch market peaked and this is the beginning of the decline."_
The Oracle of Delphi is here people! PAY ATTENTION!
😂😂
The lesson is buy a watch at retail and enjoy it without trying to chase its resale value and you’ll be much happier.
💯
Inly way to buy retail price is via AD but they will never sell to the average public only very very VIP customers
40k watch for 120k non limited edition watch and you wonder why the pullbacks are huge lmao.
For me it was inevitable the watch market was going to crash, alot of people making alot of Money on massively overpriced watches... if Rolex themselves see a watch at 45k retail, why should it be worth 100k?... always going to happen.
This guy is lying through his teeth. He didn’t want to admit that the market was crashing so he can save from the huge loss of sales
100% typical merchant behavior. he doesn't want to cause further panic before he can dump his pieces on gullible dupes.
Where is the evidence of a crash??? You don't have it. You only wish. Keep dreaming. He is not lying
@@samuelburton5576 hope seth sees you simpin for him bro
@@samuelburton5576 lol. Just follow the bitcoin graph.
Then why did he say that watches will still keep going down? He’s just being honest and sharing his take on the matter.
It was also becoming hard for the dealers, the amount of money they had to spend just for a small margin was too big. Plus correction is the word you are looking for, not crash.
Well said
Why is the margin small? He said that someone with a 140k watch could sell it now for 120k. But the dealer buys it for 90k, that looks like a big margin to me? Or is it normally even higher?
@@mitchellkepel6269 if a retailer doesn't double their money, they think they're losing money... Crazy ☠️
@@Irishboyz Yeah, because overheads these days are quite large. You still make money, but investing $100k to make perhaps $10-20k is, IMHO, not worth it.
@@mitchellkepel6269 The gray market seller could maybe buy it for $90-$100k from someone, and price it for $120k. Which is already not a huge margin considering the large investment in just one piece. On top of that, if someone wants a 10% discount, you’re at $108k, meaning you’re making $8k to $18k (which is not a lot in the watch business), but if someone wants a 20%, or 25% discount, you’re losing money. Gray market resellers work on volume, and relatively small margins (especially on the most popular models), so when you combine a drop in margins with a lack of sales volume, it’s bad news. With that said, the way most grey market resellers were doing business, we can all agree that it’s their fault that this market correction is occurring. They just wanted to push the prices waaaay too high, and they reached the price ceiling.
I’m truly ECSTATIC this is happening. A brand new submariner or ANY luxury watch should NEVER cost more than retail price.
That's not quite true is it. Rare models and models that are discontinued will always have a premium. Otherwise we'd all be driving round in Ferraris from the 60s as they'd only be worth $10k.
low IQ comment indeed
@@MrJungle123 He literally said a brand new submariner
@@SimulatorWhiz How delightful of you ti chip in. He did say that, yes. However if you'd bothered to read the rest of his sentence, he said '...or any luxury watch...'
So tell me, what exactly is your point?
@@christopherr.9541 ummm, OK.
7:53 - When Beverly Hills is becoming a crazy place so much that you cannot wear any valuables, the wealth disparity in the US is getting so bad that no where in the USA is safe any more.
Going to get alot worse. When people have nothing they come for the rich
Recession will burst watch price bubble. Dealers hold large inventories bought at historic high prices. They will sooner or later forced to sell
It would explain why I’ve seen other watch collectors like Nico Leonard start to sell their watches. Nico mentioned he’s selling his watches to buy a new house, but now I’m thinking it could be because he’s anticipating a crash.
Did Seth just blame it on the war🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️
Mind blowing.
The war certainly isn’t the only factor, but this dude clearly has wealthy Russian clients that can’t buy right now. Grey market stooge like him almost certainly is deeply invested
The second hand market or grey market was always inflated from the start a watch no matter what kind is only worth what people are willing to pay for it and that IWC and ceramic panarai are absolutely gorgeous
When Seth decided to sell his business a couple of months ago, you knew that this was the top of the market...
It is called "90210 watches" all of a sudden for a reason. Because his original company he sold.
interesting , never realised, thx
Sounds more like marketing, hes in the same spot and still selling watches so confused by your comment?
Thank you Michael 🙏. I bought my first Rolex from Seth. I’m really happy with the watch and Seth gave me the best customers service. Very professional. I’m looking forward of buying another watch from him soon.
Maybe I’ll wait to buy a luxury watch. Sweet deals on the horizon. When Seth stops buying watches you know there’s a problem.
Smart move
It is going to be like comic books and baseball cards. It went up in price out of nowhere and came back down. Comic books and baseball still have value, but the hype and flippers rise up the price. They both went down to normal value after the hype went away and are still around as niche hobbies.
Just buy retail from an AD. No need to wait.
@@roflagain1 You’ll have to wait otherwise there would be minimal markup in the secondary market.
...dead easy, right, @@roflagain1?
The prices will continue to go down to list and less for most watches as the flippers get out of the market and try to get rid of what they have ASAP. The real watch collectors are not that many to inflate the market this way.
Ain't happening my friend. Keep dreaming 🤣
Most who had money dont anymore, every day things will keep going up and most will eventually have to sell for less than they paid. Same with cars, houses and other expensive things.
@@samuelburton5576 u are probably bullish on btc with that statement.
The way the watch prices went up clearly did not make sense. What goes up like this will go down. Look at Chrono for any watch and the inventory is 20-30% higher than couple weeks ago. There is a lot dumping going on especially with flippers.
so one wants to buy the junk
Sooner than later you will be able to get that GMT at your local dealer with no wait as the flippers clogging the lists will vanish once they realize there's no profit for them anymore.
I'm checking Chrono 24 and it's not happening. Market is not going back so you out of luck if you are waiting for this my friend 😂
@@samuelburton5576 So you expect the prices to crash within a month? Nothing goes up or down in one straight line. It took 4 years to reach these prices with all the printed and free money. Follow the trend, the trend is down. Considering what's going on in the world and higher rates the market will go down further from here. Give it time until the Autumn of 2023 to unfold completely.
@@samuelburton5576 People are still asking high prices but no one is buying. Just matter of time before prices come down even more.
@@michaellee7841 how do you know that. Do you call all grey market dealers and ask? Or is this just your opinion?
@@samuelburton5576 Stock market, Crypto market, and watch market have been behaving the same for last 4 years pretty much. The question should be what is going to change this trend? Hey you know so well, go buy some pieces since it's already hit rock bottom right?
Nice work Michael! Great questions… spot on. Dealers are a bit delusional right now, what interest would they have in talking down their assets… none🙄 They’re going to ride the Titanic down because they’ll have have to make the hard decision to or sell these assets at losses or for nearly no profit.
The reason the stainless steel watches shot up so much was because all the diamond jewellers bought every steel Patek, AP and Rolex they could get their hands on to ‘ice out’. Then the optimists realised and sold theirs with a view of making a quick buck and buying a replacement at MSRP from a AD but the covid lock down and the manufacturers limitations lead to low stock and high demand so the prices went through the roof.
Not true
Whenever prices go up that much that fast it’s a bubble
RRP is the real price. Be patient
Glad to see some channels followers knows Economics.
Well, whenever prices go up, due to expectations. It's still a bubble.
its all hype thats all
First comes the luxury goods market…. Then falls everything else.
Completely agree. The luxury goods market is a leading indicator for the economy. There’s a lot of correction coming. In watches, cars, homes, etc.
@@KenBowtie "Everything else" already has been for 6 months ..?!
@@KenBowtie not what LVMH CEO says Bernauld Arnault
Correct. Luxury housing too
2 years of watching and enjoying the crazy prices of watches, then boom the market has collapsed!! To be fair to Michael, he’s always said the prices couldn’t be maintained.
Reminds me of the move the Big Short
“we are in a itsy bitsy gully” 😀
Ofcourse macroeconomic factors influence the price in a certain market, but people need to understand the sine wave of price. The market goes from underbought to oversold. anywhere inbetween people will say it's crashing or skyrocketing. While you should only really use the term crashing for when price reaches a new all time low or skyrocketing when price reaches a new all time high. Also price depends on supply and demand and when price reaches a new high alot of people are likely to sell off their investments, causing panic amongst investors when prices drops a little so they start selling too. Eventually it will reach a point where the most investors feel comfortable buying again and the whole process repeats. It's been happenings for decades
The Octo Finissimo the most underrated watch this days, peolple don’t know how classy that watch looks and even has a record for the most thin watch made.
only the skeleton one looks good in my opinion but costs alot more
so it's like any controlled market. diamond dealers keep dimonds in short supply to keep the price high, just like the watches. The watch dealers dont want people flipping watches because it would hurt the sale price. makes sense to me.
michael just pointed out the most overlooked concern for the watch market going forward. SAFETY and as the economy continues to deteriorate more and more wealthy will be very cautious and not show off their wealth. nobody wants to be a target.
its going to be a dark future ahead...
that has been happening for decades in a lot of countries. A robbery in a jewelry store and Michael is panicking, imagine if he lived in a South American country. He wouldn't leave the house.
@@mura0 es verdad, que venga a Argentina, pronóstico de 70% de inflación anual para 2022!!!
The world economy is crashing, it's hardly surprising.
You'll own nothing and be happy
@@paulie-Gualtieri. you will eat ze bugs
@@visionist7
Live in ze pods
Stay away from ze chopper .
The big green reset.
We went from Michael buying 150k in watches from Seth's store to a wachless Michael on a crashing market with a bearded Seth with no store just a seller.
Easy come, easy go.
Straight to the point Michael! They were hoarding them and betting other dealers on prices daily, and now people no longer want to buy from them :)
Its not the war. Its the federal reserve and interest rates. Money policy is tightening. Profits are tightening. Stimulus and cheap money has dried up.
Oh come on guys, the dip in prices is NOT because of the war. Let’s keep the narrative real and this would be an even better channel than what it already is.
Well recession is soon to come
100% truth. That really bad deflection. The economy was down treading in Feb, the luxury market typically peaks a few months after that turn, then implodes. This is the start of the implosion.
'nothing is crashing' two weeks into a crash which typically takes 4 months to bottom out.
War ending, will not change the economic constraints. Russia gives up tomorrow, we aren't going to suddenly reverse embargos and sanctions. Thats wishful thinking, they can't truly believe that.
Russian oligarchs trying to offload their collection makes total sense.
When people stop wearing expensive watches eventually people will stop buying as the fall in demand will adjust the market. Dealers will have expensive overheads if they sell fewer watches so be forced to reduce their prices , they can hold out for so long but eventually markets will adjust. The lesson of the Dutch tulip boom of the 17th century will always be revisited .
So would this be the time to buy if you dont care about resale???
Greedy gray market dealers (that doesn’t mean the guys like Seth and Roman Sharf, rather the newcomers wanting quick money) shot themselves in the foot, pushing prices higher and higher made them hit the price ceiling sooner rather than later, which is now affecting everyone for better or for worse. This isn’t a dip, it’s a market correction towards realistic prices, and you know that ADs don’t give a damn about this since their prices are fixed anyway. We could be expecting a relatively normal market in a year or two. And remember, watches aren’t investments!
Shoot * otherwise, 👍🤔
I’m not going to shed a tear for the greedy speculators out there who thought they would take advantage of the collective hysteria and naivety of other fools who were just ASKING to get scammed! You’re absolutely right, a watch is not an investment! It’s something you should buy because you like it and you can afford it, and you are not going to go into debt to acquire it!
Makes sence. If a business copy its competitors, they both will suffer
roman taught the others how to hustle , he is no saint. he admits to hoarding and adjusting prices
Roman isn't a greedy gray market dealer? Really?
It is sad to see Michael without a watch and bling. Didn't realize how much a watch changes person's appearance. A watch looks great on you!!
He looks great wdym lol
He seriously thinks crime doesn’t exist in Beverly Hills, and then one crime does happen and the world becomes a dark and evil place lmao.
@@superego8405 ^_^
Democrat cities are crime hell holes.
PM without a watch looks like the kind of guy that could fix your washing machine. A blue colar type of guy.
There's really a problem in BH if someone like Michael is not wearing nothing expensive. Crazy times.
Beverly Hills is not safe anymore. Watch the videos from him with the robbery
People have lost everything during the plandemic. Now they are desperate
2019 Rolex 36 mm stainless steel oyster perpetual date just. How much would it be worth today brand-new never been worn. With a black face
15000
You can see the pain in his eyes. That's what you get when too many people speculate on something, there are going to be a lot of people holding the bag.
Really like how honest he was at the ending. Speaking out that he thinks the market will probably go down a little further isn't good for his business but honest..
Michael doesn't look like himself. His whole demeanor. He is a super nice guy and he actually loves his watches and now the stress to walk out the house with them. The smash and grab thing is happening everywhere now. It's craziness and stupid. Hang in their Producer Michael. Don't stop driving your cars. 👊😎
He's in a tough place because his business is in LA so he can't easily escape to a safe part of the country. Plenty of paradises without crime for the wealthy here in the USA but none of them are in California unfortunately...
@@Tina-mt9cl There’s crime everywhere. Those people only smashed and grabbed in Beverly Hills because they know it’s full of pussies.
You've gotta wonder how much of the smash and grab people are illegal immigrants and refugees. Maybe we should stop unknown individuals from flooding into our country so we can figure out what the hell is going on? A lot of these smash and grab people are part of black market eBay operations. We need law and order restored now.
@@Tina-mt9cl where's the paradise you are talking about? The west coast has gone to shit.
The 'smash and grab thing' as now travelling around the world. In the UK we have today been treated to the appalling sight of a Labour MP espousing the defund the police mantra.
Isn't it funny how difficult it is to talk about Prices and Values when the dealer is always trying to scalp you by 50%? 😂 "Well see.... The CONSUMER could maybe still pay 140 for this watch, but a DEALER wouldn't buy it for 90..."
So true... like but a 50k swing tells you where he thinks the market is going...
you really shouldn't comment ...
@ThrowawayBruh then they wouldn't be the middle man.. dumb comment.
Dealers are asking hugr margins because of the volatility in the market. HUGE chance prices keep dropping.
Exploit these guys games and how marketing duped these sheep's into purchasing overpriced stuff
As of today September 8, 2022, a dealer can hope to sell a daytona Green for 90-85k while 3 months earlier he would have bought it for that amount.
So today how much does he buy it for ? At best at 70k
Flippers will flood the market and prices will continue to drop a a result. Most work with a buy to sell system and therefore they can't afford to wait. I've seen Rolex GMT Batman at 16k from the previous 22k price on Chrono.
Ready for the market to tank to get back to decent prices.
Within 12 months
@@IndigoStargazer the recession is on its way!
The market will only tank if people have no money and that would be a far bigger worry than watch prices.
will never happen. there’s too much money in the system
@@marcelohendrix6139 too big to fail... seems like ive heard that one before
Seth has aged- you can tell this crash/correction is stressing him 🤣 dealers are all lying about how much this is dipping- ask him the price he would pay for a watch right now, most dealers aren’t buying watches today. That’s a scary thought
Is there a video setting that’s off or does Seth have a bad spray tan???
nothing wrong with dealers sitting it out for a while watching and waiting. that makes perfect business sense.
He said in the video he isn’t buying watches right now.
Seth does not have a poker face, his demeanor and body language showed fear, he knows the bubble has burst compared to previous videos where he was joking relaxes and happy
Things are so bad in Beverly Hills, Adam can't even wear his G-shock watch.☹
Isn't that strange?
Jajajajajajaja
If anything Beverly Hills is safer than it has ever been now because of what happened.
@@sirgeorgioalastrata4104 but for it to be safe nowadays, it has to be patrolled by armed guards like as if it was Kabul or Baghdad.
A place that once was deemed the safest, where men would flaunt their new gold watches in safety, and where mistresses would go on lavish shopping sprees with wads of cash while wearing diamond colliers, is now like the backstreets of Kabul.
And that's just the main shopping street. No armed police guards can ever guard all the residential streets. Back in the 70's home security was basically non-existent. Nowadays every house has cameras, safety doors, alarms etc... all for nothing because these career criminals know that Commiefornia will not punish them. So on Monday they get just a slap on the wirst for burglarizing a home, and on Wednesday they happily continue with some casual car break ins...
America desreved all that shit on the street cities..how many wars you have started?? Kill people atack countries.....all comes back to you now
theres alot of poverty there nothing strange its american capitalism
Just queries what's going on in Beverly Hills that you would be afraid to wear 🤔 watch? Where would you wear them?
What is being said about pricing on these watches is that the “asking price” is super high, but that is not what they are actually selling for. Crono 24 is not the actual prices for these watches
This reminds me of the Dutch Tulip Bulbs which went up above the average labor annual pay and suddenly crashed. They literally couldn't sale a single bulb. Dutch Tulip Bulbs were a popular recreational item among the wealthy like watches. Dont buy watches as investments. They literally can ruin you financially if it crashes. Buy watches that you like and can enjoy.
If they were investments, then at a minimum Warren Buffett would've talked about it. But, he's simply too smart to 'invest' in art, vehicles, watches, etc.
The "Tulip Bubble" was caused by people trading tulip bulb futures (promissory notes for bulbs yet to be produced) with no oversight or accountability.
@@billymcbilly489 … and you think grey market dealers had/have oversight and accountability?
Watches are waaaaaayaayayayay over priced. No one was paying 2018 prices, then people wanted to pay 50/100/300% more 🤔 hype markets are crashing( sneaker, crypto,stocks,jpeg,etc)🤷♂️
So your saying crypto and stock market is somthing better off not getting into?
@@jeanmendez718 if u can get in with money u ok losing , it’s ok. Over 90% ok crypto is going to fail and the stocks u seen losing 50+ billions, had hype value only because of covid n free money.
This is the exact scene from the big short when he goes to Florida and the agent tells him we are in a small dip or a blip!!!
It’s just a blip, give it some time 😂
How are you gonna ask a watch dealer if the market is gonna crash even more 😂. Of course he’s not gonna tell the truth
complete nonsense most of those watches only cost that because of the labor I’m assuming because it’s definitely not the worth.
@@abolisher it's all fashion and hype
especially one that wears a small hat
He said that it will keep crashing for a while lol
the real price for watches and jewelery is 10-15% of the market price. for diamonds its max 5%.
so if you buy a watch for 10k, 1 - 1,5k is the "real" value.
"It's not crashing, it's just a very sharp dip" LMFAO omg I'm dying, I've never heard someone say that 😂
How do you measure the real dip? With real sales, not with the asking price. Watchcharts, ebay sold items, not asking prices on C24. Another good way to know is to compare today's trade-in price from a dealer with the price before the dip. Dealers will offer 20 to 40% less today to a seller, that's if they take any more stock at all. So they're expecting the market to tank up to - 40% or more if they're not taking stock.
Wearing a $100.000 watch these days is as insane as walking around with $100.000 in a transparent shopping bag.
Any with $100K to wrap around thier wrist as a 'timepiece' is not speaking clearly enough
Brokie American always worried about their high crime in "the greatest country in the world"
STOP BEING POOR!
😂 So true.
Imagine the effect on the market When all greymarket dealers starts liquidating the stock at deminishing returns….
Always good to have Seth on the channel good vibes. Love your content Producer Michael keep ‘em coming.
Abby still waiting for Nile to buy the watches lol 😂 and micheal is waiting to be seated front row seat boxing match at the one lmao 🤣
The prices are still completely insane. Looooooooots of room to go down.
🤣🤣 19:39 ''If I'm going to get shot for something, Im going to get shot for a real one.''🤣🤣 Michael cracks me up! 🤣
If I’m ever that paranoid I’ll be concealed carrying.
Or in mr Blakeys case, hire it done.
Thanks for sharing !
@@CampDavid54 if he moves to Florida he'll be able to carry, not that he seems the type
The time has come when things cost as much. Prices are maintained artificially.
Watch market crashing hard. Dealers trying for damage limitation but it just delays the inevitable. Also interesting Michael fearful of wearing openly in Beverly Hills.
Beverly Hills is dying and Michael knows it
There have been a ton of robberies in Beverly Hills (and all of California really).
Are you Nostradamus???? You have no idea what you are talking about
@@samuelburton5576 I’m guessing you’ve bought some watches at top dollar…….. ouch!
really?? here in indonesia rolex almost priced triple from msrp in the brand new in box never worn "2nd hand" market, while the AD always insist out of stock and long waiting list.
These are sad times when Michael can't even enjoy the things he owns without worrying about being cased by criminals.
California chooses to protect criminals over law abiding citizens. Who in their right mind wants to protect criminals and make communities less safe? The literal definition of a government is to protect its people.
He's smart. He knows he is super flashy so he's trying to eliminate unwanted attention.
USA is imploding.
We all love Michael, but that isn't sad. What is sad is that 80% of the US money supply was printed in the last 2 years. Inflation is going to make life really hard for normal people. Michael will be fine not wearing a watch for a while.
That's definitely a regional thing
what a change in seth's voice tone when the watch market has drop.
What happened to Yossi Dina?? Michael?? Love to see you together
Even with low inventory, Seth is always cool. With rates going up, investors are pulling money out of hard assets & its not the oligarchs that sets the watch market.
Gold Daytona green face sells for 60k now up and down in NYC diamond district .
Expensive watches and diamonds are two scams in a pod 😆
Yossi Dina buying everything up cheap right now.
The world could literally be on the brink of destruction, and Yossi would still be selling😂
So the root beer GMT is an example of a watch that’s come down from $30k to $25.5k = 1) dealer being greedy to begin with if he can drop $4.5k and still make a decent profit and 2) a dealer who knows what is happening in the wider economy and shitting himself
I’ve always wanted one of these…you save up to buy one then the price doubles, or more, its frustrating for people that just collect watches..
The Russians won't be buying luxury watches or anything else for a very long time, even if Putin pulls the troops out of Ukraine tomorrow afternoon. The sanctions are going to there for decades to come. Sorry for anyone who was making money off of dirty Russian money.
Thank god its not another boring American mansion tour. More watches please.
Mansion tours did get boring
Watches are rarely an investment that appreciates, the exceptions are well known. Just buy a watch to wear and keep or collect and keep, you pay what you think its worth, not the market. Most young people are not even wearing watches anymore - not good for long term outlook. Buy because you want it, not what others think.
The crazy principles of the stockmarket reflected in watch prices. At least in the stockmarket, the intention is really to profit. You don't buy stock to look at it and admire its beauty. It's a fictional item that has value. In the watch world, it spoils the essence of watch enthusiasm, where profiteers take watches away from watch lovers.
Well given that Seth is the "Grey Market" and trying to save face saying it's a small dip is comical. Off camera he's shitting bricks because he's getting hosed with all those Over Hyped Watches and the market is crashing right in front of his eyes. Only getting worse with inflation at 8.5%, gas prices rising, crypto crashing, stocks crashing, and a recession lurking in the closet.
Kudos to you Mike for asking him hard questions and putting him on the spot. In it to win it! Stay safe out there Michael.
Inflation helps him, not against him
@@nm5612 how do you figure? Selling luxury watches isn't inflation proof. Were aslo finding out neither is crypto, precious metals, or bonds.
Well this has aged well lol. All those watches have lost another 20-30% in the Grey Market and continue to crash. Let's see how old boy Seth is feeling now.
The war ending will not stop this. This downturn is not about the war.
For real. Seth is clueless.
He's probably the worst guy to ask about the 'watch market' 😂🤷♂️
Right the thing is the average American is not going out buying a $50k watch when they live pay check to pay check the people who come in to buy watches are the people who do not want to buy these watches rn because they know they are worthless…
You could get the BLNR Batman Rolex for around £8k and they are around £20k second hand..
The green rubber Patek was specifically for the middle east market. The green has significance there. That is why it commands the price.
I'm going nuts here. The war in Ukraine would have nothing to do with the watch market going down. Indirectly, sure, the economy as a whole has gone down for a number of reasons, including a war in Ukraine.
Everything is crashing. We are at the beginning of a HUGE recession. If you haven’t already noticed it. Stocks are down, watches are down, real estate is coming down everywhere, I’m not gonna lie it hurts but it’s good. All these things have been blown up artificially. These bubbles have to burst. It’s utterly ridiculous and had absolutely nothing to do with supply and demand anymore.
Poor Seth is in denial...