Post lockdown car/watch market

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Soporsche
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Post lockdown car/watch market

Post by Soporsche »

Just some random ramblings and unsure if of interest.

Thinking of changing the car already after buying from a main dealer in March.
As part of the research I contacted a dealer (very surprisingly for me, a car supermarket) to enquire about a well priced target model they have in stock.. Prepared myself for the worst in taking a hit on the current car but its all about cost to change.
Now I know the market is inflated at the moment but was shocked to receive a confirmed PX offer that was over 20% higher than I paid for the car :shock: :shock: :shock:

It echos a recent thread elsewhere re watch prices which are bullish to say the least for some makes and models ie one specific watch I lwas tracking in Feb at £2k didn't sell, he put it back on the market last week and it sold yesterday for £2550.
Its a very strange market (though with obvious reasons).
I think if you are looking to divest or cash in and dont need to replace immediately, it could be a good time. Or, if the model you are looking to acquire is less of a known, popular luxury brand than the one you are ofloading, it coukd be attractive.

I'm re evaluating the car purchase just now as I know that there is less stock of my desired model available and prices are 25% up on 12 months ago, and higher than before covid hit for the same make/model... Its a personal choice of course and the market is what it is but I hate the feeling I'm paying over the odds. A fair price yes, but as a serial car flipper there's only so much artificially inflated, short term increase i can self justify.

I am however selling 2 watches as the likely selling price will now more than cover the next watch target which I was offered 17% discount on at an AD last week (which makes it less than some current used market prices). :D

Anyone else experienced the above recently?
Stephen

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what-time-is-it
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Re: Post lockdown car/watch market

Post by what-time-is-it »

Lots of comments on a car forum I frequent, where px values given on new car orders in Nov/Dec have risen in the last 6 months at the point of delivery. Everyone at the time was concerned the dealers/manufacturers would re-quote in there favour, but the entire market has shifted - including the likes of We Buy Any Car.
Current collection incl Citizen, G-Shock, Rolex, Seiko, Sinn & Tag.

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Re: Post lockdown car/watch market

Post by downer »

I'm just in the process of trading a motorbike. I've owned it a year and the trade-in offer is just a few hundred quid short of what I paid.

Several dealers have said the Glass's guide prices are meaningless and are offering whatever it takes to get stock. In this case, the cause is probably a shortage of new bike supply, due to multiple reasons.

I have managed to source a new bike and fortunately, new prices have not (yet) been hiked to any great extent, so with a reasonable cost to change, it was an opportunity not to be missed.

Hopefully, I will pay the "cost to change" with a watch sale, taking advantage of buoyant prices.
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Re: Post lockdown car/watch market

Post by Soporsche »

^^^
Good luck with the bike purchase Richard, always exciting to get a new car (or bike).
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Re: Post lockdown car/watch market

Post by downer »

^^^ :thumbup:
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Re: Post lockdown car/watch market

Post by Thegreyman »

I just did a webuyanycar valuation of my car, a nearly 5 year old BMW 3 series, although it's a high spec low mileage model. I have gotten a valuation from them a few times in the past. I looked back on my emails and an offer they gave me in May 2019 is exactly the same as they are offering today! That would amount to only £4,700 depreciation in 4 years and 15k miles of driving.

Having said all that if I look at buying a 1 year old new model 3 series, the price is maybe £6-£7k more than I paid for my then 1 year old car back in 2017. That may be partly explained by it being a new upgraded model which has only been out for 2 years but it doesn't account for all the difference.
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