How good of the deal is this?

[dvn]

Before i jump on this deal i would like to know if it is a good deal? if not what how much is reasonable to make an offer? Thank you.

Panerai 111 H Series Watch. Watch is in 96% condition with no visible scratches on the crystal or bezel. Watch only has a few light scratches near the screws from switching straps/bracelents on the watch. Watch comes with SS Bracelet, Rubber Strap with Deployant Buckle, Carbon Fibre Strap, Black Calf Strap,and custom Simona di Stefano Crocodile Strap (w buckle sewn in). Watch was purchased new 4 years ago from Tourneau and looks as if it was just purchased yesterday. Features the Sandwich Dial which lights up beautifully at night and gorgeous crystal brack. I am selling the watch with all straps/bracelets for $4,500 OBO. The additional straps, bracelet, and deployant buckle combined are worth more than $2,000 MSRP. The watch's MSRP is ~$6,000 so this is an amazing buy for any collector. I am selling the watch to help finance my MBA tuition.

Below are some details on the watch:

PANERAI PAM 111 H Luminor Marina Historic

First series with Sandwich Dial, H series 2006

hand-wound mechanical movement OP XI caliber

17 jewels

21,600 alternations/hour.

Power reserve 56 hours.

Chronometer Certificate (C.O.S.C.)

Functions: hours, minutes, small seconds.

polished steel Case 44mm

see-through sapphire crystal back

Water-resistance: 300 metres.

Mint condition : 96%

Delivery with boxes, papers and stickers

[ubiquitous]

Personally, I would consider the following:

1) If you went to your local AD, how much of a discount from MSRP do you think you can negotiate right now for the current 111? Considering new vs pre-owned/lightly used with depreciation, I would take that figure into account and adjust accordingly.

2) What are used examples selling for otherwise in comparison? My personal observation seems to be around $3100 - $3700 depending on condition, complete package, etc. (some of which also come with a multitude of used straps thrown in as well).

3) What are all those (used) straps worth to you? One certainly can't give full/new value on them considering they are used, even though I see used straps sell for ridiculous money on Paneristi, (depending on specifics and type). The bracelet would probably have some pretty sustainable value, however. The rubber/deployant should be excluded from the added value of the straps as that is what comes with the watch as new, I believe (PAM folks can correct me on this, as it may possibly come OEM with the rubber AND a calf, I think)?

To me, $4500 may be an okay price considering, but surely nothing to write home about.

...but then again, I'm not a huge PAM guy either

[HauteHippie]

Agree, $4500 is nothing special in the pricing department for a 111H. Now it does include some used straps, and a bracelet. But nobody should ever wear a 111 on bracelet (IMO of course), and the provided straps may not even be to your taste.

So I'd pass, find a better deal on smaller package, and then buy your own straps if needed.

[deniz21]

yeah i totaly agree with the 2 comments bevore me....a used strap... even when its gen it has no value for me... i use my straps no one else

and yes ubi the 111 comes with the rubber and with a calf strap and buckle.

and i also think you can make a better deal somewhere sometime..

all the best

deniz