Do companies still gift Rolexes to employees?

[rockdrock]

Or if you are that singer dude that bought his band members all gold 15202 Royal Oaks!

https://www.hodinkee.com/articles/br...ef-15202s-with

[Mcasseba]

Originally Posted by Calatrava r

Smaller companies did this all the time for valued employees who brought wealth to the company. Now, they cannot get them.

You're right

[steve099]

Originally Posted by Mcasseba

You're right

No, its because now we have to pay fringe benefits tax on such gifts at a rate of 100%

[azizu]

I joined Schlumberger back in 2004, in our orientation week we had a senior instructor lead training sessions and he told us if you want to get a Rolex, you have to work with Schlumberger for 20 years
I believe it was a two tone datejust. And it looked nice on him.
Needless to say one year later I left Schlumberger and their Rolexes
I got my first Rolex 6 years down the road and it turns out that I didn’t need to wait 20 years


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[azizu]

Originally Posted by Sgooter

Schlumberger, an oilfield services company, has awarded Rolexes to certain employees, but I don't know if they're still doing this. The Schlumberger name is typically engraved on the case back of these watches, some of which have been offered for sale on TRF.

+1
Yep, I can confirm that. It was a two tone datejust I believe


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[gerry100]

None that would hire me

[jssans]

Yes. But the model of watch is very limited, currently. Buy what’s available. Employees will get more unique configurations. That’s what I had to do for the past 3 years.

[dmash]

Had a friend who owned a few Dominos. Had one of he best performing stores in the region one year, got a Dominos Rolex. This was 2012.

My father got a datejust from his company (approx 30,000 employees total) after 25 years of service. They also gave him the option of taking the value of the DJ and ‘upgrading’ to any watch in their catalog by paying the difference. This was 2015.

[Carew]

The Coke Cola Conglomerate stills give them away to employees...

[GMT Aviator]

Originally Posted by Stan Cooper

Dad didn't get a Rolex, but a JLC Atmos mantle clock honoring 25 years with Schwinn Bicycle Company. I inherited it and it's priceless to me. I just had it completely overhauled, and it keeps damn near perfect time. It's the closest thing I've ever seen to a perpetual motion machine.

My Goodness, I have exactly the same clock, inherited from my Dad also.

It’s been running continuously now for 50 Years, and has never been serviced! Quite incredible.

[austinp]

My nephew works for a large CAT dealer and Sales goals are often rewarded a Rolex.


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[Stan Cooper]

Originally Posted by GMT Aviator

My Goodness, I have exactly the same clock, inherited from my Dad also.

It’s been running continuously now for 50 Years, and has never been serviced! Quite incredible.

Very cool, Mike! Yours is the first Atmos I've seen with the dial identical to the one I have. I'm still amazed at the accuracy and reliability of these clocks that run for decades on small changes of air temperature.

[flyboyyy]

Two weeks ago I gifted four DJ’s to three men and one woman for 20yrs of service (in front of all their co-workers)….so yes, some folks still do that! All the watches were new. The men’s were SS 36/41 (chosen for the recipients wrist sizes) the lady a 31 rose/SS. Took me a year to get them from 2 different ADs. I coulda done OP’s, but I felt the DJ’s just a bit more the “quintessential Rolex” with the Cyclops for them.

Really caught them by complete surprise and the reactions were priceless and unforgettable.

[SeeDweller]

Originally Posted by flyboyyy

Two weeks ago I gifted four DJ’s to three men and one woman for 20yrs of service (in front of all their co-workers)….so yes, some folks still do that! All the watches were new. The men’s were SS 36/41 (chosen for the recipients wrist sizes) the lady a 31 rose/SS. Took me a year to get them from 2 different ADs. I coulda done OP’s, but I felt the DJ’s just a bit more the “quintessential Rolex” with the Cyclops for them.

Really caught them by complete surprise and the reactions were priceless and unforgettable.

Unbelievably generous gesture, and of course, you’ll see the investment returned in spades in terms of employee morale and motivation.

So besides being incredibly cool, you’re also a smart businessman!

Bravo!!!


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[joewang1988]

Yes I would and thinking about getting one for one my top directors either when he gets married or hits his 5 year anniversary but would prob pick up an older model in the secondary market. This is all assuming my company continues to grow and expand.

[Becweb]

Bechtel does after 25 years. You can choose between his and hers yachtmasters rodium, a two tone sub and a smaller one, or a dd36, amongst other choices, albeit they mention that it is subject to availability / waiting time.

[jamesreid978]

I received a ND Sub after 5 years of working for a small engineering consultancy in 2015. The owner did this for all staff who worked for him for 5 years, really nice gesture. He sold the company shortly after I received mine (I was 2nd last to get out of about 10 total to receive a watch). I joined the company the day before my birthday and it ended up the watch's warranty card is dated on my Birthday so I was extra lucky.

When looking at the new (FTSE100) companies service reward booklet, the gifts were rather embarrassing in comparison! Other employees asked after the company was sold where their Rolex was, obviously not realising that it was the owner that was buying them not the company.

[904VT]

Not since they scammed employees by offering Defined Contribution plans over Defined Benefit plans. Private maybe.

[RyanO]

I received my polar explorer ll as a gift from my employer after 5 years of service. I even got to pick it out of the case, and this was when there were rolexes - in the case. I still wear it a ton and it’s a special watch to me. The company was sold a few years later...

My employer even received a 10% discount on the purchase.


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[MAINEZX10]

I work for a electrical company. In 2019 the owners gifted a long time employee with a Datejust. He been with the company since day 1

[MBgle]

The real estate office I’m with awards their realtors a Rolex the first time they hit 10mil in sales in a year.

[Boopie]

I got a ladies’ Seiko TT DJ homage watch.

I enjoy seeing retirement Rolex watches for sale from vintage watch dealers from time to time.

I know a lawyer who sported a RG Skydweller a few years ago, and I complimented him on it. He said that he had such a good year that he bought some for the other lawyers at his firm.

[OneMoreSi]

Stryker used to award their top sales guys with one but I'm not sure if that tradition has continued.

[eskiserkan]

Coca Cola factory in my city gives a blue dial 126200 for every employee which worked for 20 years.

[zagazar]

The company I work for still gives a Rolex day date at 25th anniversary. It's cool in my opinion.

[CrazyMD]

This last year I gifted my entire staff Rolex’s for Christmas. They have been with me for years and treat my business as if it was theirs and thus I wanted to show them how much that means to me.


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[Flintstone]

The better question is, “how many people claim the gift watch on their taxes ( it is considered taxable income) and pay the taxes?

[77T]

Originally Posted by Flintstone

The better question is, “how many people claim the gift watch on their taxes ( it is considered taxable income) and pay the taxes?

It’s typically done for them.

The corporation makes up for the gift taxes by grossing up the value of any gifts by reporting it on the employee’s Form W-2 for that year.


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[Kliminator]

Cool idea / gift for enthusiasts like us. Most people probably would prefer straight cash $ :D

[brigadoonb]

Wish my company did that….I would be super excited.

Passed 20yrs last year and they gave me a catalog to look through…..so I can pick one preselected item in the book. The most expensive items were a circular saw, a golf bag, and a leather duffel bag. It was nice to receive something but a part of me feels they could have just said thank you and I would have been just fine.


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