Here is a short post for all those who think we make so much on any given piece. Yesterday a President, 1803 came from another dealer @ $3700.00. Nice watch, a little loose on the bracelet but a factory diamond dial which is rare for that model. What happened? Sold to another dealer for $4k. Monday we took in a 16660 w/matte dial and all service papers. In at $8000.00, out the door @ $8500.00. As nice a piece as I have ever seen but I am told one just as nice w/ORIGINAL papers in California for $10k. We bought a sapphire ladies two tone for $1500.00 w/a decent band which did not sell immediately. Still on the shelf, I am told.
So much for dealers making big profits!!! For us, it is always about volume anyway so these times are not different than any other.
These are very interesting days for dealers and collectors. Next weeks IWJG show in NYC will prove to be quite interesting. I have spoken with established dealers who are telling me they WILL NOT liquidate their overstock of common 6263/5 and the like. They are going to "hold them 'till the next boom"...better call your attorney and write it in your will! lol! Nah, maybe not that bad but the days of $20-30k plastic Daytona are over.
We shall see people, we shall see.
Remember, you heard it here first...back to 2002/3 pricing is coming soon.
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