Reason for shortage !

[Xyza0722]

This video means nothing......i have never seen anywhere in HK posting a picture of a watch on a box. And all the dealers I’ve been too never present their watches like that.....scratch out prices! Anything is possible but highly improbable....
The whole video is sketchy at best......more fake news.
Claims of 3 guys buying watches yet no photos....more fake news
A couple of shots of a few dealers in Causeway bay and central?

These are watches, its a free market to do whatever they want. You don’t like it, don’t buy it
This isn’t Investigative uncovering of uranium smuggling outfit.....its watches

Check please....

[Highlatitude]

Originally Posted by Yess

Not sure about the "huge drop in reputation" - from what demographic?

Not being able to walk in and buy an item does one thing: raises the exclusivity of the item in the eyes of the general luxury brand buyer. It drives up reputation, it doesn't diminish it.

The lack of availability has forced people to buy watches from greys, with worries about authenticity or watch history or go to an AD and haggle a deal, buying watches they don’t want or need to get a place on the list that may or may not exist. Many ADs have a horrible attitude to customers. Where’s the exclusivity in that? Or has making deals like you are a second hand car trader suddenly become reputation enhancing?

Those are the facts. People are tired of it. Rolex has suffered a significant drop in reputation. The real World is not the same as Instagram.

[Ensign]

Originally Posted by Geckobros

Rolex is a brand that I admired when I was growing up. I became successful and marked special occasions with a purchase. I then began collecting Rolex.

Today — It’s the AD games, back door deals and the unwillingness of Rolex to change their purchasing model that has me rethinking what Rolex really stands for. The brand image certainly has changed over the years.

Well put.

Rolex is showing no concern for “traditional” customers; by traditional customers I mean ordinary buyers. That may affect the brand in the long term.

Now if professional Rolexes are some sort of product that is to be shuffled out to “grey” dealers later to be sold to investors - who only see $$$ in those watches, I wonder how many buyers will distance themself from the brand.

Are Rolex professional models still watches or has it become a shady financial commodity?

[Muzikman]

I think in some countries the ADs themselves sell above list price. The amount above list price is a cash deal not mentioned in the bill ofcourse. in a way its easier and better to pay the AD the premium than buying from a shady grey dealer or online. Atleast you are assured of the authenticity. Unfair deal though I know.


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[roora85]

This is every industry. Not just the watches. It’s the clothing, handbags, sneakers, cars, you name it. Don’t fool yourself. If there’s a second hand market, best believe they are getting rid of it to the highest bidder. It’s just business as usual

[mopsey]

Originally Posted by sgwatchguy

I’ve never heard of that. Been offered a few hot pieces which I didn’t want but have not been asked to do Pre register. So while the AD’s have my profile but that’s for their purposes only, not to share with Rolex.

Where did you hear that?


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I was in an AD before Christmas to register an interest in a couple of watches. They offered me a 126719BLRO. They'd sourced it for a VIP client and had to do a presentation to Rolex about him before they would release the watch. Obviously he didn't buy it.

No reason to tell me porkies.

[sgwatchguy]

Originally Posted by Highlatitude

The lack of availability has forced people to buy watches from greys, with worries about authenticity or watch history or go to an AD and haggle a deal, buying watches they don’t want or need to get a place on the list that may or may not exist. Many ADs have a horrible attitude to customers. Where’s the exclusivity in that? Or has making deals like you are a second hand car trader suddenly become reputation enhancing?

Those are the facts. People are tired of it. Rolex has suffered a significant drop in reputation. The real World is not the same as Instagram.

No one is forced to buy a watch from greys - they make a choice. These are lux goods, not necessities. There are a number of very compelling watches available for the same or lower prices, and people can choose to give their money to those brands happily and without frustration.

Rolex financial performance as being reported suggests no impact to their reputation and ability to sell more watches. In fact, the brand just got rates by a brand consultant as having gotten even stronger. I believe that’s the true world outside IG since money talks.


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[sgwatchguy]

Originally Posted by mopsey

I was in an AD before Christmas to register an interest in a couple of watches. They offered me a 126719BLRO. They'd sourced it for a VIP client and had to do a presentation to Rolex about him before they would release the watch. Obviously he didn't buy it.

No reason to tell me porkies.

I had to google porkies LOL

I think that was someone at the AD making up complete BS. Like I said, I’ve at least never heard of that and I live here and have been into a great number of the AD’s. I don’t get why they would have to do that and whether Rolex is running a “random walk-in” authentication desk in Geneva or wherever. And why only in Singapore then. Doesn’t add up tbh.



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[jason042779]

I still don't understand this business model. The greys are making money that could be, or arguably should be, the AD and/or Rolex's. If Rolex knows ADs can't make money selling steel models, why not raise the MSRP to reflect where the market actually is? Then Rolex and ADs make the extra money, the greys get cut out, and end customers get the AD experience (albeit at higher price). I've heard the argument that the status quo is done to maintain brand prestige, but when watching this video I fail to see it.

[CKizzy]

And in other breaking news...water is wet!

[aaronch]

Originally Posted by jason042779

I still don't understand this business model. The greys are making money that could be, or arguably should be, the AD and/or Rolex's. If Rolex knows ADs can't make money selling steel models, why not raise the MSRP to reflect where the market actually is? Then Rolex and ADs make the extra money, the greys get cut out, and end customers get the AD experience (albeit at higher price). I've heard the argument that the status quo is done to maintain brand prestige, but when watching this video I fail to see it.

This. I can't figure this out either.


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[Highlatitude]

Originally Posted by sgwatchguy

No one is forced to buy a watch from greys - they make a choice. These are lux goods, not necessities. There are a number of very compelling watches available for the same or lower prices, and people can choose to give their money to those brands happily and without frustration.

Rolex financial performance as being reported suggests no impact to their reputation and ability to sell more watches. In fact, the brand just got rates by a brand consultant as having gotten even stronger. I believe that’s the true world outside IG since money talks.


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I never said they were necessities, but if your suggestion is to buy another brand if you don’t want to risk greys, then you have made my point for me.

Current financial performance does not equal reputation. Anyone with a good brand name can make a lot of money whilst damaging their brand. The financial performance of the future will measure how regarded the brand is becoming now.

[Calatrava r]

Originally Posted by Geckobros

Rolex is a brand that I admired when I was growing up. I became successful and marked special occasions with a purchase. I then began collecting Rolex.

Today — It’s the AD games, back door deals and the unwillingness of Rolex to change their purchasing model that has me rethinking what Rolex really stands for. The brand image certainly has changed over the years.

What is the Rolex purchasing model that they are unwilling to change? As far as I know, Rolex has always sold to their product to their ADs who then retail the watches. Rolex can suggest best practices but who the ADs sell to is up to the ADs. A change would be wholly company owned boutiques but even those retail buyers can re-sell for profit to the used watch market sellers. Until supply and demand stabilize, the sought after watches will end up going through multiple hands to be finally retailed at the then market price.

[Hollie_Rollie]

Originally Posted by jason042779

I still don't understand this business model. The greys are making money that could be, or arguably should be, the AD and/or Rolex's. If Rolex knows ADs can't make money selling steel models, why not raise the MSRP to reflect where the market actually is? Then Rolex and ADs make the extra money, the greys get cut out, and end customers get the AD experience (albeit at higher price). I've heard the argument that the status quo is done to maintain brand prestige, but when watching this video I fail to see it.

I would love to see this. Honeslty, if Rolex raised the price of a Daytona to 25k though I’d go AP or a precious metal piece. But I’d love to see this.

[mopsey]

Originally Posted by sgwatchguy

I had to google porkies LOL

I think that was someone at the AD making up complete BS. Like I said, I’ve at least never heard of that and I live here and have been into a great number of the AD’s. I don’t get why they would have to do that and whether Rolex is running a “random walk-in” authentication desk in Geneva or wherever. And why only in Singapore then. Doesn’t add up tbh.



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Yeah, sorry about that.

I should add that I'm in England where there isn't so many grey dealers, and ceertainly none where I live.

[Calatrava r]

Originally Posted by Hollie_Rollie

I would love to see this. Honeslty, if Rolex raised the price of a Daytona to 25k though I’d go AP or a precious metal piece. But I’d love to see this.

The problem with raising prices to meet a current bubble is that when the bubble bursts, as they always do, Rolex watches will be horribly overpriced and discounted to the point where the brand will be totally trashed. The company needs to place a value on their products which will hold up over time through up and down markets and grow the prestige of the brand long-term.

[arcentaur]

Fascinating to see lots of greys in this forum doing damage control LOL

[Pam673]

Many SS Rolex owners in HK treat their watches like stocks...buy low and sell high is dope. As long as they think the value of say, a Daytona is still rising they don't mind to pay a premium to Greys.

Rolex do every now and then revoke the license on ADs because of this 'backdoor' practise. However they will only do it to an individual shop (shop A of Brand X) and not to the company (Brand X) as a whole.

Bizarre that Rolex hates customers flipping their watches but turn a blind eye on the well known 'backdoor' practice by ADs.

ADs will also sell direct to 'safe' customers with a 'flipper' premium added.

Yes the whole thing stinks like a drug dealer's crap

[djyolky]

How many times does this need to be said...The AD is THE customer of Rolex, not you or me. Rolex does not care about who ultimately buys their watches, or for how much money.

Wake up people.

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[nikhsub1]

Only way to stop this is to do like Apple - also run the retail. Problem mostly solved.


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[GMTLV]

Originally Posted by Yess

Not sure about the "huge drop in reputation" - from what demographic?

Not being able to walk in and buy an item does one thing: raises the exclusivity of the item in the eyes of the general luxury brand buyer. It drives up reputation, it doesn't diminish it.

Having thousands of your watches sold online and at back-alley stores does not exactly emit an image of exclusivity and luxury for Rolex.


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[Sky D. Weller]

I still dont understand why people are over paying for Rolex.. especially at some dumpy grey reseller. I am liking Rolex less and less.

[Michael T]

So does the grey’s value proposition fail when they went from buying a DD40 that they had to discount $5k, to get the 116500 they could make $10k. Where now the DD40 takes a $7k discount, but the 116500 only yields $6k premium. We can quibble about the relative math in the examples, but it is directionally correct.

[Muzikman]

Originally Posted by Muzikman

I think in some countries the ADs themselves sell above list price. The amount above list price is a cash deal not mentioned in the bill ofcourse. in a way its easier and better to pay the AD the premium than buying from a shady grey dealer or online. Atleast you are assured of the authenticity. Unfair deal though I know.


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Okay so just came across this video.. it says exactly what I mean and with proof!


https://youtu.be/mN6Ih2ECBJA



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[Bigblu10]

Originally Posted by Fleetlord

Thanks for posting this..

The HK dealers couldn't be bothered with selling SS Sports Rolex at msrp to the general public...it's way too much work for little profit.

Sell them in bulk to the greys. They can make more on the hawt pieces and move some other references as well.

Then they can focus on their large, well healed clientele who want custom PM and gemstone references. MORE MONEY LESS HASSLE. No lists. No silly tourists to deal with and their nagging over a SS Sub. Let the Greys handle that rat race...

Perhaps the AD keep a few SS Daytona or Subs around in case the big customers want a decent gift to give their gardener or swimming pool attendant, but otherwise sell them in bulk and get them out of the store...

The current pandemic and world economic situation has thrown a curve ball at every thing you just mentioned above.

[johnjm]

Originally Posted by Muzikman

Okay so just came across this video.. it says exactly what I mean and with proof!


https://youtu.be/mN6Ih2ECBJA



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What law says that an AD must sell something to anyone but who they want to?

I don't understand the anger. Yes I've had guys try their luck with me, all I wanted was a sub from an AD that I had never used before and I was told that I should buy a datejust first.

I chuckled when I explained to him that the Daytona on my wrist probably proves to him that I've been around the block a few times.

I had the sub a week later.

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[GMT Aviator]

Originally Posted by GMTLV

Having thousands of your watches sold online and at back-alley stores does not exactly emit an image of exclusivity and luxury for Rolex.


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What he said.

[Ensign]

Originally Posted by Muzikman

Okay so just came across this video.. it says exactly what I mean and with proof!


https://youtu.be/mN6Ih2ECBJA



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Paul Thorpe - another fine Rolex brand ambassador. Wasn’t his son prosecuted for selling fake Rolexes?

[Muzikman]

Originally Posted by Ensign

Paul Thorpe - another fine Rolex brand ambassador. Wasn’t his son prosecuted for selling fake Rolexes?

I’ve no idea about him but I can say that the video and the phone call conversation they play in it is genuine. I’ve myself seen similar things. No point defending ADs when we know they all play such games and create huge shortage to make more money, and happens every where in the world.

And I don’t see any other way to get the rare SS watches other than paying a premium or making additional purchases. No where in the world one can find a SS Daytona or a Pepsi or a SS Skydweller blue dial unless you have made substantial purchases earlier and are a repeat customer or ready to pay premium. So it’s a worldwide practice. It is what it is and we have to deal with it for the love of Rolex.

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[sgwatchguy]

Originally Posted by GMTLV

Having thousands of your watches sold online and at back-alley stores does not exactly emit an image of exclusivity and luxury for Rolex.


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It’s no different for hot Hermès and Chanel bags or PP and AP watches.


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