Wednesday, November 7, 2012
Forward, or more accurately sideways...
With the election over, and all the cheering masses getting back to looking for their fair share of the American Dream, we move on. Mose of us will play the game, and not let the game play us. We will play a little more carefully, and remember that real money is made on the buy. With all the wealthy "paying a little more", I am sure we can find nice pieces that will hold value and protect us from the perils of the ever shaky US Dollar and Euro. This is the time to buy in. Prices are holding across the board and unlike stocks, bonds, 401k, etc., we can be sure our inventories will prosper, as tangible will always outdo intangible. Be ready for another Wall Street burp. It's coming. Gold and silver, yes, I said silver, will come into play, bigtime. It cannot continue as it has been. Debt cannot be rectified by creating more debt. With gas in the $3.00-$4.00 range, how long will it be before people who work, on a fixed income, start feeling more of a pinch at the supermarket? My own take, I see a real difference just in the time it takes to get from marlboro to my NYC office. In 2007-8 before all this, It was a 2 hour trip, regardless of what time I left in the morning or evening. many times I took a black car just not to hassle with traffic. Over the last four years, my trip has shortened by half, with a max of an hour and 10-15 minutes door to door. High gas ($1.80 in 2008) has led to many having to take a bus or train, provided they have jobs at all! It is a sad commentary on the direction our government is going. Business, especially small business, is getting squeezed out. The real cost of health insurance, for those of us who actually pay for it, is going to prohibit growth, as will other policies coming into play. Get ready for it. It's coming sooner rather than later... JB
Posted by John Buckley at 8:31 AM No comments:
Friday, October 19, 2012
NYC Fall 2012, Buckley returns, and he's bringing back up...
As the world continued it's rotation since April, 2011, many things have changed. We are completely finished with the buildout of our new location at 66 west 47th, #23. Tuscanyrose now occupies the entire back of the extra large showcase with old friends Renaissance Watch Co. Tuscanyrose's relationship with Mike Pollicino (aka Big Mike) and Daniel Pasternak goes back to late 1999-2000, when Renwatch was a hub for many of the Rolex vintage parts that dealers and collectors alike covet today. Renaissance continues to be one of the premier locations for high end new/pre owned modern watches of all brands, specifically Rolex, Cartier, Patek Philippe and Breitling. With the ever unstable US dollar, and general global instability, the watch market, especially vintage, is thriving. It seems even though the Asian market is softening, primarily because of Chinese banks freezing assets at will, making it more difficult for traders to buy in their normal "cash in hand" fashion. This is only part of the ever growing ripple effect of the European downturn, which shook the vintage Rolex market last year. In spite of all this, vintage Rolex is thriving, in the USA and especially abroad. The current sluggish US economy continues to bring forth challenges. As far as our bottom line, the usual process of buying right, and selling with a smaller overall margin is allowing us to move many more units, thus driving our worldwide unit sales higher. In other words, the glory days of 2005-2008 may be gone, but we are evolving and continuing to be successful, despite current financial landscape. Let's get to numbers: Steel 16520 are holding firm over $8.5k and over $10k papered. Pristine, collectible Patrizzi and A/P serial papered are all over $10k and peak at $13k plus. Floaters are not readily available and fetch premium money, usually $12k for common and over $15k papered. Nice stuff. Gold 16528 are also in the money selling over $15k for unpapered daily wearers, to over $16 for nice full set examples. Gold Floaters are an additional 10-15%, give or take. 16523 two tone are soft, but always a nice inexpensive alternative in the $6-7k range. Again, add $10% for full set examples. Steel Subs continue to be hot (surprise, surprise) and are fetching strong money for nice thick cases with clean matte dials. Nice 5513 200-660 minty can fetch over $5k and more with a tight bracelet. 5512 are another grand, depending on age. Nice 1680 are always a fan favorite and will command $4500-5500 depending on condition and bracelet. 1675 matte common heads are a little soft, but again, thick case, nice insert and clean face can command $4-5k. The real money is in the gilt models from the early/middle 60's. Non pointy Gilt 5513 with perfect dials can bring between $7-10k, based on particulars. Same period 5512 are even pricier, so add another $1-2k for pristine models. Add pointy guards and numbers can soar, well over $10-15k for either depending on the "gimmicks". Gilt GMT 1675 need to be period correct with nice dials and small hand, if expected to bring over $7-8k, pointy models can bring significantly more depending on condition and dial. Plastic Daytona are holding firm with non screw oyster cased models in the high teens to low 20's, but again, a nice full set can add 10-15%. Oyster with screw down pushers are still in the mid $20's and can bring over $30k if complete and minty. 6234/8 models are desirable, but need to have clean original dial or they will fall under $15k, but if pristine, can bring in the $20k range. 1601/3 non quick are the real money here. They can usually be bought in the lower $1000 range and easily sell for $1500+ depending on dial. Not to blow my own horn, but "buckley" dial models with blue face and correct white hands can bring over $3k, as they are extremely hard to find and have a cult following...other than me!!! Let's get to the ever popular "transitional" models: 16800 is a still kind of a dog, with many dealers pulling the matte dial out of nice examples and selling with regular gloss dial, as a more modern sub for commercial consumption. Blaspheme!! 16660 is holding OK, but not really killing it unless with full set and even then, I would not be in more than $9k. Cream 16550 is all about the dial, and if it is not a rail, then beware paying too much. Reds are next, and when we talk red sub, the dial better not have any chips. If it does, prices can drop, but with perfect 660 dial you can pay in the $8k range. Feet first are another story and will bring the money over $10k if perfect. Papers on either can add thousands so make sure you know what you want. DRSD is the same, with anything other than a perfect dial bringing in the $15k range, if lucky. Older stuff is always a gamble, but pricing for Mk 2, and PPDRSD are steady over $20-30k, and in to $50+ for the latter. Just wanted to let all know I am still breathing, and promise to update more frequently. We have been involved in a large real estate deal that has taken up most of our time, but now it is done and we are back on it. On another note, I have posted a link for the Mondani book signing, of which we are sponsors. The event will be held at Aaron Faber Gallery and hosted by my good friend Ed Faber. On hand for signing will be Osvaldo Patrizzi, and Georgia Mondani, daughter and marketing director of Mondani Publishing and daughter of Guido Mondani. Jo, James and I will also be on hand. We look forward to a great time and invite all to join us. JB
Posted by John Buckley at 10:20 AM No comments:
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