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Rolex Hulk prices firm, Daytonas are soft and its time to exit Richard Mille suggests Watchbox

Mike Manjos chief commercial officer

There is nothing illegal about insider trading when it comes to pre-owned watches. Whatever edge you can get from talking to experts and those at the front line can be used to make better informed buying and selling decisions.

Maybe that is why so many financial analysts and private equity firms tune into WatchPro every day.

This is also the theory behind a new series of social media presentations from Watchbox, the largest online watch trading site in the United States, that it calls Market Wrap.

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Episode 3 of the weekly series went live five days’ ago, and has already been viewed almost 6,000 times.

It features WatchBox’s chief revenue officer Mike Manjos talking first about the eerie silence of the company’s Philadelphia trading floor and how his team is continuing to serve clients from terminals set up in their homes.

“There is some softening in the watch market,” Mr Manjos concedes, but there are also pockets of strength.

Like a stock market trader taking positions, Watchbox is going short on Greubel Forsey, which the company expects will see prices decline on the secondary market in the coming year or two, and it is also “conservative” on Richard Mille. “This a brand that has taken off in the last couple of years, driving very high prices. We think those prices are going to come back. There is too much product out there in dealers’ hands,” Mr Manjos suggests.

fpjourneOn the upside, Watchbox is building a substantial position in F.P. Journe. The company says it has the largest collections in the world already, but intends to “double down”, according to Mr Manjos. “We think prices are only going up,” he predicts.

He particularly likes the entry level F.P. Journe Chronometre Blue, most collectors’ gateway into the brand. “Every one of these watches we get in is going out again straight away,” reveals Mr Manjos.

Some blockbuster watches from recent years are seeing prices dip as demand falls and supply rises. The Rolex Daytona with ceramic bezel, is mentioned as an example. However, the Rolex Submariner Hulk is bucking the falling market as speculation increases that it will be discontinued this year. “People are convinced the Hulk is going away. Demand will continue until we get a definitive answer from Rolex on whether it is on or off this year,” Mr Manjos believes.

And, finally, he singles out the Patek Philippe 5970 grand complication family, which has seen prices up and down like a roller coaster over the past decade. This crisis could be the perfect time to secure such a grail watch, Mr Manjos advises. “There are very few out there, particularly with box and papers, and prices are creeping up,” he says.

19 Comments

  1. I know this is April fools day, but, you’re having a laugh putting this stuff on your website. Watchbox are known for their greedy, massively inflated prices. Check out the ceramic Daytona’s they have for sale, all of which are well over $20000.

    1. Nobody is suggesting Daytonas are selling on the secondary market for the same prices as at ADs, the point is that prices are past their peak and are likely to fall further when the market unfreezes.

  2. I thini this report is wrong about rolex ,the company is not going to be producing watches for a long time because of the corona,so I doubt that Any of the sport watches will come down in price.
    the demand is greater than the supply.let’s see what happen 6 month from now

    1. Production could restart sooner than you think. Breitling is re-opening production in La Chaux-de-Fonds on Monday (story later today). Plus production for most brands slows down significantly every summer. I do not know if this is the case for Rolex, but there is a decent chance lost production can be caught up.

  3. Do any of the people who believe prices will keep rising forever, fancy buying some of my antique brown furniture collection?

    1. If you mean the gray market ,? better those guys go out of business.. How do they get there stock anyway.. is it possible that in-house sales persons from authorized Rolex dealer’s are supplying them. The man in the street has no chance of buying a Rolex sports watch…

  4. Let’s not kid ourselves. I collect watches but my children have no interest in them. How many people under 26 do you see wearing watches? Apple watch sells more than all the brands combined so with no customers coming in and the current economically devastated world, all of these things are dinosaurs for the wrist. I won’t pay more than $2000 for anything anymore and everyone I know has cashed out their higher price watches. A watch is like a compact disk or a bookstore on the street. It’s a thing of the past not the future.

  5. Rolex 116718 GMT2 18k yellow gold anniversary green dial. Any thoughts on this beauty? I almost sold it last week for 22k

  6. Baseless predictions lead to ‘Speculation.’ In this case coming from one unreliable source (one pre-owned watch dealer, self promoting itself)…and I like Tim Mossi…the only guy worth watching videos from WatchBox…bad article imho…

  7. The big watch craze is over and Richard Mille and lesser brands like AP and Hublot will not be able to adapt. Rolex and Tudor vintage eg 1675,1655,5513,1680,1665,6525,7659,7928,79090,79160
    Will go from strength to strength – the overcased post 2005 Rolex Chubmariners like 114060/116610 will also fall from favour in 5 yrs or so, as discerning Horologists and casual wearers alike move towards the more Svelte sports watch.

  8. ” There is too much product out there in dealers’ hands” ?
    News to me – I am on a 5 year waiting list for a non limited model in their range…

  9. Ha ha ha! What utter tripe!! Rolex have shut down production and demand for Rolex stainless steel is still of the charts so I agree there may be a dip as some collectors offload to liquidate funds but it the long run you’re a fool if you think prices are going to come down for Daytonas, Batgirl maybe…but I won’t be selling mine!

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Rob Corder

The author Rob Corder