Buying a Datejust for wife

[kiss29]

My friend was trying to sell me a 2006yr model 178240 datejust rolex. Simple and elegant, not flashy, which I think is nice.

He is hopping to sell it at $4.5k to me.
Before I get it...I just want to seek the expert here on whether is the price reasonable or can I ask for a lower price further?

[ohlins]

right now list price for 178240 is S$7052.........

assuming u get 20% off, a brand new watch will cost S$5641....

plus 2 years depreciation......... i think it's reasonable...... but how about boxes and papers? full set available? condition? mild hairline scratches?

u can go koh watches/peng kwee to check market prices then decide for yourself...

cheers

[kiss29]

Thanks for the prompt reply and helpful baseline price reference guide!

[Darkangel]

I have a feeling the price 2 years back was like...ard 5k brand new?

If I were you...I would say..no more than 4k.

[ohlins]

i cant rem exactly ... but low to mid 6k was the list price back then...

for reference a 116200 was $6847 .... now is S$7444.

[kiss29]

thanks for the helpful inputs.

[tomcatf]

Pre-owned Rolex's price is based on market value and not on list price of the date it was purchased. Would suggest you do some leg-work to check with pre-owned shops, and S$500 less than the cheaper price will be the best guide, may be friendship price will be even lower..

[evets]

Check out the preowned market for the similar model that should give u an average market price as preowned watches varies based on their current condition and the accessories that come along with it.