Ask an Insider Thread

[Vee-Dweller]

hi chris, the wife picked me a new sub c up from a uk ad over the weekend as a birthday present and very nice it is but it's running +10 - +17 seconds a day fast. i've had a few rolex watches and they have always been +1 or +2 seconds a day straight out of the boxes. should i give the watch more break in time or take it back to the ad and get them to send to the uk rsc for regulation? how long would it be away for? dont really want to loose a near £5K new watch for months and months when it's only days old. i know it's a mechanical watch but i expect much better accuracy from my rolexes.

great thread thanks.............

[The GMT Master]

Originally Posted by Vee-Dweller

hi chris, the wife picked me a new sub c up from a uk ad over the weekend as a birthday present and very nice it is but it's running +10 - +17 seconds a day fast. i've had a few rolex watches and they have always been +1 or +2 seconds a day straight out of the boxes. should i give the watch more break in time or take it back to the ad and get them to send to the uk rsc for regulation? how long would it be away for? dont really want to loose a near £5K new watch for months and months when it's only days old. i know it's a mechanical watch but i expect much better accuracy from my rolexes.

great thread thanks.............

Hello,

I wouldn't panic too much yet - you've only had it for a few days, sometimes a watch needs to settle in. Just as a point, have you given it a full manual wind yet? A watch always performs best when at the top of its power band, if it's low on power, it can gain a fair bit. If that doesn't solve it, then it probably needs regulating - if your AD has a Rolex trained watchmaker on site, they should be able to do it for you without the need for sending it to Kings Hill

Hope this helps,

Chris

[The GMT Master]

Originally Posted by Changmaisausage

I was informed recently from a Rolex employee (event co-ordinator) that he received a 50% off his Rolex that year he had been with the company for five years. The discount is only after five years on completion of ten years you are able to buy another and so forth.

Ps. he bought a green sub (LV) and very nice it was.

Interesting stuff, thanks for your input

[JBat]

Great thread here, Chris. Thanks for the insight into the AD side of things. I think it'll help all of us appreciate what you and other salespeople do and have to go through, as well as giving us some really interesting info.

[Sose]

I'll be paying close attention to his thread!
Thank you!

[spuds]

Great thread Chris!!

[SC11]

Yep Chris is a legend !

Helped me secure my Sub-C

Just a shame my watch purchases have come to a temporary halt due to wedding and forthcoming house purchase.

But can't see it being too long before he hears from me again !

Many thanks again pal, have a great Xmas.

Sam

[Dan2010]

Originally Posted by pitbull666

Yep Chris is a legend !

Helped me secure my Sub-C

Just a shame my watch purchases have come to a temporary halt due to wedding and forthcoming house purchase.

But can't see it being too long before he hears from me again !

Many thanks again pal, have a great Xmas.

Sam

You could always put off getting married and buying a house! You do have choices you know....

[SC11]

Originally Posted by Dan2010

You could always put off getting married and buying a house! You do have choices you know....

Too late already married !

:-)

But yeah sod the house WG Daytona and AMG instead...

[007Willster]

Hello Chris - great thread!

Do you have any thoughts about your status as an Omega AD. Specifically, with Omega opening all of the boutique locations do you thing they will pull your AD status.

Also, how do your other brands, including Omega sell against Rolex in your shop?

Thanks again!
Mike
.

[The GMT Master]

Originally Posted by 007Willster

Hello Chris - great thread!

Do you have any thoughts about your status as an Omega AD. Specifically, with Omega opening all of the boutique locations do you thing they will pull your AD status.

Also, how do your other brands, including Omega sell against Rolex in your shop?

Thanks again!
Mike
.

As far as I know, Omega UK's policy is different to Omega USA with regards to ADs. I don't believe there are plans to have a mass cull of ADs over here, but I get the impression that Omega is proportionally more popular here. There are several Omega dealers in the city I'm based, and I'd argue that we had the best positioning and possibly the best turnover. We consistently have the most varied range of watches, and we have a completely up to date range - one AD has watches in their window that have been discontinued for several years. I don't want to tempt fate, but I think we do enough in terms of positioning, shopfront, space dedicated to Omega and turnover of stock to keep them happy

Omega do sell very well indeed - in terms of numbers of watches sold, they're comparable to Rolex, although the turnover figures will be lower (simply due to price points). Our biggest seller in the range is the Black Bond-style SMP 300m full-size quartz - it's at an attractive price point, and has a great feel on the wrist, especially compared to other brands around the £1300 mark. The Planet Ocean is another bestseller. Omega also consistently outsell our other brands, they're certainly an asset to the store

[007Willster]

Originally Posted by The GMT Master

As far as I know, Omega UK's policy is different to Omega USA with regards to ADs. I don't believe there are plans to have a mass cull of ADs over here, but I get the impression that Omega is proportionally more popular here. There are several Omega dealers in the city I'm based, and I'd argue that we had the best positioning and possibly the best turnover. We consistently have the most varied range of watches, and we have a completely up to date range - one AD has watches in their window that have been discontinued for several years. I don't want to tempt fate, but I think we do enough in terms of positioning, shopfront, space dedicated to Omega and turnover of stock to keep them happy

Omega do sell very well indeed - in terms of numbers of watches sold, they're comparable to Rolex, although the turnover figures will be lower (simply due to price points). Our biggest seller in the range is the Black Bond-style SMP 300m full-size quartz - it's at an attractive price point, and has a great feel on the wrist, especially compared to other brands around the £1300 mark. The Planet Ocean is another bestseller. Omega also consistently outsell our other brands, they're certainly an asset to the store

Great stuff, Thanks !

Mike

[Fiery]

Fantastic thread! Thank you for answering all those questions, Chris.

Here's another one: you explained how the Sub-C and new Explorer is doing, but what about the DJ II? It seems to be less popular on this forum than most Rolex models, and even on the sales corner they move slowly. Apparently it suffers a lot of depreciation when going 2nd hand, so I'm wondering how sales are going about it? Do you sell more of the WG/SS model than of the TT? Do you have to discount it more than 10% to move them? Which particular DJ II dial choice is the top seller? I'd say the black sticks WG/SS, but maybe I'm completely off :)

Thanks again for taking the time answering the questions.

[The GMT Master]

Originally Posted by Fiery

Fantastic thread! Thank you for answering all those questions, Chris.

Here's another one: you explained how the Sub-C and new Explorer is doing, but what about the DJ II? It seems to be less popular on this forum than most Rolex models, and even on the sales corner they move slowly. Apparently it suffers a lot of depreciation when going 2nd hand, so I'm wondering how sales are going about it? Do you sell more of the WG/SS model than of the TT? Do you have to discount it more than 10% to move them? Which particular DJ II dial choice is the top seller? I'd say the black sticks WG/SS, but maybe I'm completely off :)

Thanks again for taking the time answering the questions.

The Datejust II isn't a big seller, I'll admit that - I never expected it to be a wild success, firstly because it is quite a niche watch, and secondly, because it has quite a big price tag. We have sold a few though - oddly, the TT model has been going a bit better. The baton dials seem to be quite in demand (especially the black on the SS/WG), and the black arabic on the two tone gets quite a few enquiries too. As for discount, we've sold most at full price, and a couple at discount, although I don't know if we've gone as high as 10%

[Fiery]

Thanks for the answer

I have a few more for you if you don't mind. As for age groups, what would you say the most buyers come from? Is Rolex purchased mostly by people over 30? Or the majority of buyers are over 40?

As for women coming to the store and trying on Rolex watches, do you see a difference in their ages than compared to women who come in to try on Omega or other brands? Can one say Rolex ladies' models mostly just attract women over 35-40? I'm asking this because even though I love Rolex watches, my wife (who's 29) says Rolex ladies' models look boring and "maybe I'll like them when I'm over 40". I don't agree with her about such an agish comment, but I have to agree about Rolex lacking dynamic and fashionable models. I suppose introducing the colourful Daytona leather straps and exotic dial colour choices are because Rolex noticed that issue.

If Rolex watches tend to attract people over 30, do you see a change in that trend since the revamping of Rolex models, so let's say since 2005? Do the supercase and ceramic bezel help to widen the Rolex customer base?

[The GMT Master]

Originally Posted by Fiery

Thanks for the answer

I have a few more for you if you don't mind. As for age groups, what would you say the most buyers come from? Is Rolex purchased mostly by people over 30? Or the majority of buyers are over 40?

As for women coming to the store and trying on Rolex watches, do you see a difference in their ages than compared to women who come in to try on Omega or other brands? Can one say Rolex ladies' models mostly just attract women over 35-40? I'm asking this because even though I love Rolex watches, my wife (who's 29) says Rolex ladies' models look boring and "maybe I'll like them when I'm over 40". I don't agree with her about such an agish comment, but I have to agree about Rolex lacking dynamic and fashionable models. I suppose introducing the colourful Daytona leather straps and exotic dial colour choices are because Rolex noticed that issue.

If Rolex watches tend to attract people over 30, do you see a change in that trend since the revamping of Rolex models, so let's say since 2005? Do the supercase and ceramic bezel help to widen the Rolex customer base?

The more questions the better

With regards to demographics, for gents, it's quite a mixed bag. Certainly we do get a lot of guys in their 30s and 40s buying, but we do get quite a lot of younger guys in as well. There seems to be a universal appeal on the gents line, no matter what age, there's a Rolex for everyone.

For women, the range is slightly more conservative, and does appeal for a slightly older demographic, mainly 30s/40s upwards. Saying that, though, some younger women are looking at the full size gents watches as well, although the big watch trend hasn't completely taken off where I work. The new models Rolex have brought out for ladies does seem to be aiming at a younger demographic, especially the 31mm and 36mm ladies' models.

The new sports models have definitely widened Rolex's appeal - the ceramic GMT and Sub have been getting a lot of attention from younger guys. The perception that Rolex is a bit old fashioned is definitely changing: the Milgauss, Datejust II, GMT IIc and Sub-C are leading the way for the younger demographic

[Fiery]

Originally Posted by The GMT Master

The more questions the better

Thanks But since you asked for more, here's a last one for today from me: as a salesperson, if you could make a new Rolex dial choice or a new watch model, what would you request Rolex to create? Or, in other words: is there a particular watch model that customers would like to see? Do you get such comments from potential buyers, e.g. "I would buy the GMT IIC if it had a Pepsi/Coke ceramic bezel" , or "I'd buy the Sub if it had a blue dial variant", or "I'd buy the Day-Date if it had a cheaper version", or "I'd buy the Sub if it had a Rolex rubber strap option", or "I'd buy the Daytona if it had a date feature".

[The GMT Master]

Originally Posted by Fiery

Thanks But since you asked for more, here's a last one for today from me: as a salesperson, if you could make a new Rolex dial choice or a new watch model, what would you request Rolex to create? Or, in other words: is there a particular watch model that customers would like to see? Do you get such comments from potential buyers, e.g. "I would buy the GMT IIC if it had a Pepsi/Coke ceramic bezel" , or "I'd buy the Sub if it had a blue dial variant", or "I'd buy the Day-Date if it had a cheaper version", or "I'd buy the Sub if it had a Rolex rubber strap option", or "I'd buy the Daytona if it had a date feature".

Oo, I like this question. I would request the addition of sapphire case backs as an official option - a lot of watch brands do them as a matter of course now, and it seems a shame to keep the movement hidden away. I would also suggest expanding the lady's sports watch range, and, like any GMT enthusiast, the return of bi-colour bezels. I can't think of any requests I've had from customers themselves, but I think all of the above would help improve the range further

[Sose]

Originally Posted by The GMT Master

Oo, I like this question. I would request the addition of sapphire case backs as an official option - a lot of watch brands do them as a matter of course now, and it seems a shame to keep the movement hidden away. I would also suggest expanding the lady's sports watch range, and, like any GMT enthusiast, the return of bi-colour bezels. I can't think of any requests I've had from customers themselves, but I think all of the above would help improve the range further

I absolutely would love it if Rolex would make a saphire caseback an official option. Being a purist, I like things as they come. Don't really like to modify things much if anything at all. This is, however, just me... as I know many other folks buy after market casebacks and get them installed. I just wish Rolex would do this themselves and sell units this way.

Thank you for all your answers. I'm just lurking and reading.

[jackdog]

Chris, this is a great thread...thanks.

One quick question, I've always wondered....on average, how many Rolex would an AD sell in a month? I know this depends on the size of the shop and catchment area. My local AD is in a fairly small market town and I can't imagine they sell many watches per month. Thanks

[The GMT Master]

Originally Posted by jackdog

Chris, this is a great thread...thanks.

One quick question, I've always wondered....on average, how many Rolex would an AD sell in a month? I know this depends on the size of the shop and catchment area. My local AD is in a fairly small market town and I can't imagine they sell many watches per month. Thanks

There are a lot of variables, but we sell about 90-100 in a good year. We always sell more around Christmas, but 6-8 per month on average, I'd say

[jackdog]

Thanks Chris, I would imagine my little AD will be less than that!

[GolfPunk]

What is the official UK waiting list for a Daytona S/S?

Thanks.

[The GMT Master]

Originally Posted by GolfPunk

What is the official UK waiting list for a Daytona S/S?

Thanks.

It depends on individual stores. The big chains operate a national waiting list policy, whilst independents will be based on the supply to one store. To give you an idea, we have about 30 to 40 names on the list, mainly biased towards white dials. As for time in terms of years, it's a bit convoluted, but could be anywhere between 4 to 8 years - however, that's based on everyone taking one when it's their turn, and this isn't always the case. For example, no one wants the most recent black-dial Daytona we've received, it's proving hard to sell

[GolfPunk]

Originally Posted by The GMT Master

It depends on individual stores. The big chains operate a national waiting list policy, whilst independents will be based on the supply to one store. To give you an idea, we have about 30 to 40 names on the list, mainly biased towards white dials. As for time in terms of years, it's a bit convoluted, but could be anywhere between 4 to 8 years - however, that's based on everyone taking one when it's their turn, and this isn't always the case. For example, no one wants the most recent black-dial Daytona we've received, it's proving hard to sell

Thanks for that. I'm surprised about the demand bias towards the White over black. Personally I have bought the black face 2 weeks ago and had the option of either.

[STEELINOX]

Occaisionally pieces get scratched in the store, as I have witnessed, by sales peeps when handling watches in the same hand as they are holding display case keys; keys and watches dont mix well, both asthetically and bottom line.

Oh, btw Chris, thanks for asking my previous query...

Anyways, have you ever seen a sales peep handling pieces in the same hand they're holding display keys?? Its quite a sight !

Oh, also, do you wear cotton gloves when handling pieces?

Thanks,
Randy

[The GMT Master]

Originally Posted by STEELINOX

Occaisionally pieces get scratched in the store, as I have witnessed, by sales peeps when handling watches in the same hand as they are holding display case keys; keys and watches dont mix well, both asthetically and bottom line.

Oh, btw Chris, thanks for asking my previous query...

Anyways, have you ever seen a sales peep handling pieces in the same hand they're holding display keys?? Its quite a sight !

Oh, also, do you wear cotton gloves when handling pieces?

Thanks,
Randy

Hi Randy,

Can't say I have seen anyone do that, just asking for trouble! What we normally do is take the watch straight from the window and put it onto a soft Rolex branded tray. If I'm handling a watch for a customer, I'll wear cotton gloves if they're clean (they get dirty very quickly, and it doesn't look very professional), if not, I'll carry the watch with a polishing cloth

[Tank102]

If a dealer can make $500 profit on a watch in low demand, will they accept a buyers offer? Is there a maximum discount a dealer can negotiate as set by Rolex or contract? 15% or 20%? Or can a dealer turn as many watches as possible by giving greater discounts? 30% or 35%?

How much authority does a sales associate have to negotiate? Should a buyer only negotiate with the store owner?

Is it possible to get a bigger discount buying two watches at the same time?

What advice would you give a first time buyer? Is it better to offer to buy immediately, or is it better to make multiple visits? What results in the best discount?

One last question. If a customer knows a dealer has an older rolex before the price increase, can that be used in negotiating a discount? Or will dealers only discount on the new price?

How can a customer get the best price at a dealer?

[clock]

How did the retired black dial LV sell?

Is it being requested along with the SD?

Is Panerai one of the lines carried in your store? If not, do customers ask or comment on Panerai?
Do you think Panerai has taken some market share from Rolex?

Is IWC a popular brand in the city?

My understanding is Rolex 2 tone watches are not very popular in England vs the states, is this true?

What are your top 3 Rolex models?

[A.Sharp]

Random Serial? how do you feel? Sure, its ok now becuase it suggests 'NEW' for us. And sure it will make the watch hold more resale value later on. Not to mention it probably helps with watches that sit in the display case for a year or two. But what about in 5 years? how will you know what your buying?