The Watch Appreciation Thread - Part two (Rolex, Patek Philippe, Audemars Piguet, Jaeger LeCoultre,

[Ebitdaddy]

Prices almost back down to what they should be for a lot of watches, it's nice. The independent stuff hasn't cooled as much as I had hoped but its definitely more reasonable now. Perp cal MB&F sold for ~$120 recently. I think it was closer to ~$160 - $200.

 

[acconrad]

Yeah no date subs are actually under retail on Chrono 24 I'm kind of surprised/delighted by that

 

[Dino944]

Yeah no date subs are actually under retail on Chrono 24 I'm kind of surprised/delighted by that

You must be referring to older models, and even then, they are listed for more than what their MSRP was when new. I didn't see any current 41mm ceramic Subs for less than MSRP.

The video was amusing, but anyone who was paying 5 to 10 times retail is just an idiot. The people I know that own or bought those watches bought them from ADs or boutiques at MRSP. If they lost money, it was just on paper because they didn't sell them at the peak of the market, but their watches are still worth more than they paid for them.

 

[mebiuspower]

 

[mebiuspower]

The video was amusing, but anyone who was paying 5 to 10 times retail is just an idiot.

Luxury watches are bread and butter for money laundry...

 

[Dino944]

Luxury watches are bread and butter for money laundry...

I didn't know that. I always presumed the people that bought at crazy high prices were just speculators, trust fund babies who just need the latest and greatest for their social media, or newbies with a lot of money who should have asked for advice from more seasoned watch fans.

 

[mebiuspower]

I didn't know that. I always presumed the people that bought at crazy high prices were just speculators, trust fund babies who just need the latest and greatest for their social media, or newbies with a lot of money who should have asked for advice from more seasoned watch fans.

Watches as Tools of Money Laundering and Illicit Finance

Luxury timepieces are one of the most effective mediums to move illicit funds around the globe and a tool to integrate those ill-gotten gains into the financial system. Transnational criminal networks, terrorists, narcotraffickers and corrupt politicians have used watches to launder money as a...

www.watchesofespionage.com

The value-to-weight ratio of a Rolex, Patek Philippe, Audemars Piguet or other premium brands is exceeded only by precious gems, making it easy to physically transport a watch across international borders. The vast, unregulated, and fragmented gray market makes converting timepieces into cash relatively easy. Unlike vehicles, gold, and diamonds, there is no oversight or registration for timepieces and a million dollar Patek can be worn on your wrist, easily breezing through customs.

 

[patrick_b]

Watches as Tools of Money Laundering and Illicit Finance

Luxury timepieces are one of the most effective mediums to move illicit funds around the globe and a tool to integrate those ill-gotten gains into the financial system. Transnational criminal networks, terrorists, narcotraffickers and corrupt politicians have used watches to launder money as a...

www.watchesofespionage.com

Speaking of Watches of Espionage, our very own @Neville Southall made the front page the other day:

 

[acconrad]

I didn't know that. I always presumed the people that bought at crazy high prices were just speculators, trust fund babies who just need the latest and greatest for their social media, or newbies with a lot of money who should have asked for advice from more seasoned watch fans.

i think both are true

Also you know you're a goody two-shoes boy scout when you are completely blindsided that of course watches are a lightweight source of money laundering currency.

Dammit I just want my watches below retail and Hezbollah has to go and ruin it

 

[Ambulance Chaser]

Will the younger generations be sufficiently interested in mechanical watches for them to continue to be a means of money laundering in the future? I read a recent NY Times article stating that younger folks are less interested in fine art--another popular means of money laundering--than their elders. I guess time will tell.

 

[Texasmade]

Will the younger generations be sufficiently interested in mechanical watches for them to continue to be a means of money laundering in the future? I read a recent NY Times article stating that younger folks are less interested in fine art--another popular means of money laundering--than their elders. I guess time will tell.

That's what crypto and NFT's are for.

 

[mebiuspower]

That's what crypto and NFT's are for.

plenty of grey dealers accept bitcoins...

 

[Dino944]

i think both are true

Also you know you're a goody two-shoes boy scout when you are completely blindsided that of course watches are a lightweight source of money laundering currency.

Dammit I just want my watches below retail and Hezbollah has to go and ruin it

Well, I'm not sure I'm a goody two-shoes I just never really had any reason to think about money laundering. I am familiar with the idea of watches as currency, to the degree I know many of his have heard the stories in the past, or perhaps seen the discussion on this thread a while ago about Rolex watches serving as currency for military people or special agents in who are caught in a bad situation.

As for wanting watches below retail, that ship has sailed...unless you have figured out how to make a time travel machine. I'd suggest going back to 1987/1988 and visit two well known ADs back the day who would have end of the season sales on watches they wanted to move. Dorfman Jewelers on Newbury Street, Boston and James Kaplan Jewelers in RI and, are both are gone, but my dad picked up a Royal Oak Day Date (some people call it the "Owl"), and a his first Patek, a tutone Nautilus for 50% off MSRP. Speculators, trust fund babies, and money launderers ruined it for everyone! Even as recently as the earlier 2000's you could still get a 10% discount on steel Rolexes and 30-35% off Pateks, VCs, IWC etc.

 

[acconrad]

Check Moda, probably under retail there

Btw I got into the main Moda group and the stuff in there is definitely not below retail. Maybe its because most requests are Rolexes?

 

[Texasmade]

Btw I got into the main Moda group and the stuff in there is definitely not below retail. Maybe its because most requests are Rolexes?

What's the price on Moda for BNIB unworn Omega Speedmaster EW 321 in steel?