Rolex AD unethical behavior should be reported and audited

[ziadsa]

Hi,

I am a Rolex Collector most of my watches are from the same AD , many Rolex Dealers in the last 3 years became greedy and unethical maximizing their profit by selling the watches to connections in the grey market to be able to maximize their profit, AD get over 30% and more of the retail price in Profit if I am not wrong.

I got my Rolex collection 5-3 years ago and never sold any of them. Before the Market become Hot and Authorized Dealers start this trailing and Scam Shorting behavior to their loyal clients.

Here is the behavior I am aware about. AD get watches from ROLEX , they sell majority of the watches under proxies ( personal or company names) who in their Turn Sells the watches on the Grey Market at a very high profit and share it with the AD.

Many AD tried to sell me via proxy the watches I need for my collection, but I never pay but the listing price, as we should be in fair trade and competition and not fuel unethical behavior by paying premium.

I will give you an Example of a watch and do the Math about the trailing system abused used by AD in Canada.

Submarine Watch 126610LN = 10750 CAD , while in the US the price is 9150 USD = 11712 CAD.

In Canada the Submariner Watch is 1000 CAD = 781 USD Cheaper than the USA.

The Grey Market in the forum and other sites for Brand new in Box 126610LN year 2020 126610LN never used is 13000 USD = 16640 CAD and higher.

i will take base price in USD

Rolex listed price = 9150 USD VS Grey Market =13000 USD and up. Profit here is: 3850 USD + for a grey market Watch.

When AD sells a watch to there Proxies they make at least 30% of retail price in profit + they get a cut from the grey market price too on the side

This is a small profit comparing to the very hot pieces that Rolex Already not mass producing. Like a steel Daytona sold to proxies can give an AD 3 times more side cash from their proxies.

In my situation I travel a lot for work. In the last 3 years I put my name for the New Batman and new Pepsi on the day they got released and confirmed in Baselworld show, every month I contact my AD in Montreal where I bought over 20 watch from Him. And he tell me nothing to you yet.

One day i confronted him, i told him how come i am one of the first to put my name on those hot watches and i am a collector with over 20 Rolex watch and over 10 Tudor i did not get mine yet, he told me go look on the grey market and buy it for premium , he also told me i cannot give anyone those watches as market is hot and if client buy diamond from me or other product for high amount and ask me for a watch i have to give it to him in priority. i was very shocked from this behavior, then i realized all the scam and behavior used by AD.

how come Collectors are not able to get watches while forums / sites / eBay filled up of watches BNIB ( brand new in box Sealed ) with recent warranty cards ( less then 1 month old )

How come collectors don't get them while grey market is full of the Rolex watches brand new , never used :) it is a joke.

Now after my AD told me Get from grey Market I went mad, and I asked other dealers in town, they told me You have to establish a new relation with us by buying other products then Rolex to be able to provide you with watches and our list is Full.

This waiting list is a scam used by AD and no Transparency , Most of Dealers they give their watches to there proxies, or when you buy other products like gold or diamond with a lot of profit for them they give you a Rolex watch you want, Many AD there Safe are full of watches waiting in line to be pushed to proxies. Or to high payer clients.

A complaint should be made for trade commission about these behaviors , at the same time will email ROLEX about it.

But I say the problem start from Buyers who are willing to fuel the Grey Market and pay those crazy prices fueled by the AD abuse, Rolex should provide fair access to their product and not leave it in the hand of some AD gangster style to launder money and make extra money on the side.

i was last month in Europe ( Netherlands in Utrecht center ) i walked in a shop selling Rolex and other brands, i asked him about professional watches , his answer was no pro series Rolex watches all sold out, i asked him if i can put my name, he told me there is no waiting list here for Rolex anymore. same scenario everywhere many AD can sell watches on grey market and double their profit. at the END this behavior will be for the interest of all AD as they maximize their profit.

I Suggest ROLEX should make and enforce Fair trade and Online waiting list on there website controlled by them and not on the AD side ( as they will find a way to abuse it again ) where clients Can put there name on the waiting List on Rolex side, When turn will come clients will be contacted via email to go the AD in there country of residence and get the watch with X amount of time to be collected or it goes to the next in line.

Rolex AD list is fake and scam now, I guarantee many of the guys around got tired of this behavior too.

I will work on a study and statistic to show how many Brand new In box Rolex watches are sold online, I am in my way to gather the data from Forums / eBay and other resources including local jewelry shop who are friends of the AD.

Rolex Waiting List is something Fake in Majority of the places where High demand on Grey Market is On.

I will never pay a premium to get a watch. I am against Monopoly , abuse and unethical behavior with money laundering , fair trade is the way to go.

Rolex should revoke every AD his Rolex Watches are being sold as BNIB and very young warranty cards.

Many Friends of ROLEX AD and proxies probably wont like my Post here and attack me as usual, but it is nice to prove I am wrong.

Who ever agree with me can Answer by Agree to this Thread or give his opinion, our voice should be heard and petition should be raised to stop abuse behavior.

Happy New year, I hope 2021 will be a fair year for Consumers and away from AD abuse

[Burlington]

Please do continue to share these data you will gather and email to Rolex HQ.

[fskywalker]

Unfortunately that’s the truth with many AD’s


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[SPMN]

I agree. It stinks, but at the end of the day, these are just watches, and there are number of excellent alternative brands out there. I'm turning to Omega until the madness dies down. If it doesn't die down, then I'll just stay with Omega.

[Rexplorer214270]

Originally Posted by SPMN

I agree. It stinks, but at the end of the day, these are just watches, and there are number of excellent alternative brands out there. I'm turning to Omega until the madness dies down. If it doesn't die down, then I'll just stay with Omega.

Omega is heading in the same direction as Rolex

[EEpro]

Welcome to the Rolex market for the last few years.

[joli160]

I prefer dealing with grey sellers. I did buy from several and without exception very knowledgeable and true watch lovers.
Stellar experiences, to the point and without games, no kissing up required and overnight delivery on my doorstep for a price resembling the market value.
No scam and no harm done to anyone.

I believe in free markets and the AD’s are doing what any business would do to maximize profits. The sole reason for their existence and btw:
MSRP = manufacturers suggested retail price

[BillA]

OP, you are obviously a collector not a flipper. That is your right.
However, some people who buy them are flippers, that is their right also.
Customers can buy or not buy at grey market prices, that is a choice a consumer makes.
Even though we are in a pandemic, seems there is a lot of money out there buying grey.
Now the AD is a businessman, so why should he sell to you at lets say $10K, when he knows resellers sell the watch for $18K? He says let me sell to this reseller for $13K, making $3K more than if he sold to you. I don’t like it either, but that is the game in capitalism. So you can wait, or buy grey. I do not buy at a premium, like you.
Another analogy I could make is playing the dice game called craps. Walking into the Rolex AD you are using is like playing craps and knowing the dice are loaded. If it is the only game in town, you play even though you know the dice is loaded. Many people on this forum, who have the money to burn, are playing in the loaded dice game. Good luck.

[EndlessEight]

I’ve been offered a BLRO in less then 4 months of asking.

Instead of pouting try another AD.

[HansSolo]

Something sounds off if you bought 20 watches (+10) from an AD and he tells you to go grey.. At that level you would think you would be VIP status and privy to any hotness, unless there's another part of the story that made you an enemy with that boutique..

[EEpro]

Originally Posted by HansSolo

Something sounds off if you bought 20 watches (+10) from an AD and he tells you to go grey.. At that level you would think you would be VIP status and privy to any hotness, unless there's another part of the story that made you an enemy with that boutique..

Yeah, I'd like to see a pic of those 20 and understand why he's not their biggest VIP being offered all the hotness.

[Seddyspaghetti]

Somebody call a Waaaambulance

[Harry-57]

Greedy? Yes. naughty? Yes. Disagreeable? Yes. Unethical? That's a bit of a jump. The watches are the property of the AD. They can sell them to anyone they want. The correlation with the grey market looks obvious. But your detailed account requires proof. At the very least you could name the AD? It's not like you are accusing them of anything you can't prove. Right? And it's not like you are accusing them of doing anything illegal - if I have understood your post.

Perhaps this is in hand and you have already sent documentary evidence to Rolex? It still wouldn't hurt to name the AD. And it sure will be interesting to know what their response is. I hope you will keep us posted.

[jackminny15]

I’m still waiting for my Batman despite 40K in purchases, not all of which were Rolex ....

[42itus]

Originally Posted by Seddyspaghetti

Somebody call a Waaaambulance

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[vh2k]

You joined TRF over three years ago... and this is your first post of any substance.

Nice one!! Looking forward to the next 9 pages. Well done.

[vh2k]

double post

[Setarip]

Yawn.

There are sooo many other posts like this one.

Most everyone has experienced this issue.

How about posting a pic of your 20 and sharing which reference you like most or the most interesting story about a life event in one. Or share some technical info about your most unique model.


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[TimeAZ]

Originally Posted by Rexplorer214270

Omega is heading in the same direction as Rolex

I politely disagree.

I've had 100% satisfaction with my Omega purchases, and VERY poor customer experience with Rolex.

Omega sells most of its models online, direct to consumer, without the need for AD shenanigans. Are there some models that are unavailable? Sure. But most of them are there. No AD games.

Omega lets you order bracelets, clasps, straps, bands, NATOs, accessories, and misc. swag, which you can easily purchase at an Omega Boutique. Try ordering a Glidelock clasp for your GMT.

Omega Boutiques offer some of the best customer experience in the business. They have a genuine interest in fulfilling your request(s) as a customer, and vast majority of the time they actually can! They don't try forcing jewelry and things you don't want (e.g. bundling other watches) as a prerequisite to the sale of their inventory.

I've pretty much moved on from Rolex at this point. My next watch is going to be the updated Omega Speedy with 3861 movement.

[Robf52]

You may not like it, but that's free market capitalism. It's pay to play. The Ad's are maximizing their profits which is a legal and sound practice. Seems like you need to find another AD.

[Mystro]

First world problem no one will care about. In today’s economic/political environment a rich guy not getting his Rolex will probably get applauded and his car vandalized. Some times you have to pick your battles.

[Rolex tom]

Just because you’ve bought a lot of watches in the past doesn’t give you the right to have them first on every occasion. At the end of the day every AD wants as big a client base as possible, they can’t continually let newer customers wait and wait forever, they’ll simply look elsewhere. Unethical this is not. It’s just business my friend.

[Atone]

Shop around. Lots of places to make relationships

[ChugachEagle]

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[Jack T]

Yes, the AD may double its profit” on a per watch basis, but when they had 30 Subs to sell in 2018 and now only 6 in 2020, they’re still coming up way short in overall revenue.

And how do you pop in to The Netherlands from Canada these days?

[Fred48]

[
Now the AD is a businessman, so why should he sell to you at lets say $10K, when he knows resellers sell the watch for $18K? He says let me sell to this reseller for $13K, making $3K more than if he sold to you. I don’t like it either, but that is the game in capitalism.

But then is not the AD in violation of his agreement with Rolex to not sell above MSRP? Would not Rolex want to know this and take appropriate action against the AD?

[stainlesssteve]

What if Rolex allowed their dealers to simply sell at the market rate? You could walk into any AD and see a SS Daytona for sale with an ask of, say, $30,000. The guy who buys a PM Rolex might negotiate a bundle deal and get that Daytona at a “discount”. The grey market would dry up BUT no one will ever pay retail for a SS Daytona again. I don’t think anyone here wants to see this and yet it is the obvious way that Rolex could fix the “problem”.

[supernova]

Seriously, you live in a free market country, people are allowed do trade on luxury watches however they want, it is not an essential item to living. If you don’t like it, then move somewhere where there isn’t a free market.


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[dba]

[s46]

I am curious where in canada this AD is located.
I have seen a lot of BS like this also
Time to put them out of biz