Business Corner October 2018

The increase of the prime interest rate by the Fed has had a chilling effect on the stock market. Let’s hope we have no more this year. This would have a negative effect on buyers. It was also sad to see Sears file for bankruptcy. On a positive side, investors may be willing to take some of their profits and spend some on high end watches and jewelry.
The November 6th elections could change the overall business climate. I am looking forward to a strong Christmas buying season.

The new Rolex S.S. GMT II #12670 Pepsi red & blue cerachrom bezel watch with jubilee bracelet has slowed down, but it is still selling for $5,000 to $6,000 over the suggested retail price of $9,800. The Rolex S.S. Sky-Dweller #326934 is very hot with “blue dial” selling at $2,500 to $3,000 over the $14,000 suggested retail.
Gent’s Rolex sports watches, new & pre-owned, are very hot in all metals. 3/4 to full size S.S. Rolex date and date justs are very hot, especially 41mm models. The vintage Rolex GMT Submarines and Daytona watches have had some signs of weakness. This market may have peaked.