New Watches of switzerland (UK) rules for Rolex

[MikePRT]

Just wanted to share some “rules” which Watches of switzerland are implementing to try and ensure the spread of watches around their customers is fair. Was advised of these new rules following a catch-up with my sales assistant yesterday to register my interest for a green OP41. Coincidentally Paul Thorpe has done a video on the same rules.

1) register of interest for models now only possible for existing clients. People with no purchase history will not be able to register their interest for any model
2) only 2 Rolex sales are permitted to a customer in a 12 month period
3) out of that two only 1 sports model is permitted.

I do think this is going to have a real impact and spread the distribution of watches to a wider customer base. My AD showed my a list of 5-6 hit watches that he literally is struggling to sell to people in his client list as the new rules knock a lot of people out of consideration. Talking about blue sky dweller, Batman, subs, 2 tone explorer 1 (well, not surprised that is a struggle). Obviously I tried to buy the blue sky but was told I need my register of interest approved by head office which would take a few months and by which time the blue sky would be gone.


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[Jack T]

Complete nonsense

[Madison1]

Similar story with mine. They said I can have one sports model (be on the list) and one non sports. I originally had a longer list and had to chop it down. The theory is acceptable if it means watches go to a variety of collectors and not just the same person. I also found it a good way to pair down my options when forced to choose. They only issue I think is not selling to new customers. I think as a business model this is insane. New customers are key.

[gramo]

Originally Posted by MikePRT

Just wanted to share some “rules” which Watches of switzerland are implementing to try and ensure the spread of watches around their customers is fair. Was advised of these new rules following a catch-up with my sales assistant yesterday to register my interest for a green OP41. Coincidentally Paul Thorpe has done a video on the same rules.

1) register of interest for models now only possible for existing clients. People with no purchase history will not be able to register their interest for any model
2) only 2 Rolex sales are permitted to a customer in a 12 month period
3) out of that two only 1 sports model is permitted.

I do think this is going to have a real impact and spread the distribution of watches to a wider customer base. My AD showed my a list of 5-6 hit watches that he literally is struggling to sell to people in his client list as the new rules knock a lot of people out of consideration. Talking about blue sky dweller, Batman, subs, 2 tone explorer 1 (well, not surprised that is a struggle). Obviously I tried to buy the blue sky but was told I need my register of interest approved by head office which would take a few months and by which time the blue sky would be gone.


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Thank you the update, everything Watches of Switzerland have done over the last 5 plus years has not worked and all these most recent rules will also not work either. but Watches of Switzerland needs to be seen to be doing something to please Rolex.

[Bom]

Originally Posted by Jack T

Complete nonsense

Not at all......

[multimedia]

Similar post in the AP forum. And yes I agree with Jack = nonsense.

Cheers,
Joe

[Bom]

Originally Posted by Madison1

Similar story with mine. They said I can have one sports model (be on the list) and one non sports. I originally had a longer list and had to chop it down. The theory is acceptable if it means watches go to a variety of collectors and not just the same person. I also found it a good way to pair down my options when forced to choose. They only issue I think is not selling to new customers. I think as a business model this is insane. New customers are key.

Don't need any new customers at the moment, more than enough demand... sure when it drys up they will allow new customers

[Innocenti]

Only register interest if your an existing client .
So you have to buy something else before they will even put your name down for a Rolex.

That right there is enough reason for me to never step foot in one of their shops again.

[Retlas]

Bucherer (London) dont require you to be an existing client but you are also limited to 1 sports / 1 non-sports model within a 12 month period.

[padi56]

Originally Posted by multimedia

Similar post in the AP forum. And yes I agree with Jack = nonsense.

Cheers,
Joe

Complete and utter nonsense all ADs are in business for one thing only and thats to sell as many of there products to all that enters there retail store.

[Jay2101]

I thought the 1 sports model was only a Japan thing, but it looks like other countries have caught on. Japan also limits them to those with residence status as well. So no sudden tourist buys (not that tourists could enter Japan in the last couple of years anyway).

[watchmaker]

Not nonsense. Expect to hear more of this rhetoric moving forward.

Of course if you are a whale, the world wont change for you - c'est la vie

[multimedia]

Originally Posted by padi56

Complete and utter nonsense all ADs are in business for one thing only and thats to sell as many of there products to all that enters there retail store.

Yes, exactly this. :)

As I answered in the thread over on the AP section, I'm not sure how many times we've read here that "my AD told me this and that, I heard this from a friend who heard it from the milk man"... until one see any actual proof, it's just rumours. And why any AD would take this approach, is beyond me.

Edit;

Originally Posted by watchmaker

Not nonsense. Expect to hear more of this rhetoric moving forward.

Of course if you are a whale, the world wont change for you - c'est la vie

I'm sorry for maybe spinning this further along now, but why should we expect to hear more about this? Hearing is one thing, yes. But this actualy happening. Well... again, why?

Cheers,
Joe

[Rolexken]

https://youtu.be/3ZDAxgqpNUg

Here is a link to the YouTube video mentioned in the first post on this thread.

[watchmaker]

This is the latest brainwave to try to curb flippers and get product to a wider audience. As WOS is the UK's largest account, they will be the vanguard. The rest will follow.

It will fail on the first point (there will simply be more unique flippers instead of fewer/higher volume ones), but will succeed on the second.

The days of retailers having any autonomy over how they market and sell Rolex are long gone. You can be sure new policies have either come from above or have been green lit. And expect uniformity, customer experience should be the same regardless of what door you walk through.

[Harry-57]

Originally Posted by Rolexken

https://youtu.be/3ZDAxgqpNUg

Here is a link to the YouTube video mentioned in the first post on this thread.

Anything he posts has a high potential to be the opposite of what is actually happening.

Sounds like smoke and mirrors. One rule for everyone = different rules for anyone on a case by case basis. It's human nature and it's how the world works.

[multimedia]

Originally Posted by watchmaker

This is the latest brainwave to try to curb flippers and get product to a wider audience. As WOS is the UK's largest account, they will be the vanguard. The rest will follow.

It will fail on the first point (there will simply be more unique flippers instead of fewer/higher volume ones), but will succeed on the second.

The days of retailers having any autonomy over how they market and sell Rolex are long gone. You can be sure new policies have either come from above or have been green lit. And expect uniformity, customer experience should be the same regardless of what door you walk through.

So be it, but as stated in the video (I just browsed through it) it's all the same stuff we've heard here trough the years = (again) "My AD told me this and that" = nothing concrete, no press releases, etc. So it's all speculations.

Don'g get me wrong, I'm all for watches being available to the broader audience again = like it used to be = we don't need to rewind the tape more than a couple of years when you could actually go into an Rolex AD in Hong Kong (of all places) and they would offer you the standard 8% discount on a 114060 (I'm a living proof of this).

But again, what is mentioned in this video, are just hearsay, and personality I take this very lightly (right way to say it in English?) before I actually see any proof. Before that, it's just speculations. Speculations about AD's, which we've heard over and over and over again.

Cheers,
Joe

[RogerOP]

I can vouch for this too, as I was told the same thing:

Another thing that XYZ didn't know, is that we can only register clients for one super high demand watch.
You had your GMT BLRO registered, we cannot register you for the LV and the GMT BLNR as well.

Super high demand = sports watches.

I was also told to register for an OP36 I have to do it in store and not online. So what Paul Thorpe said is true, and the document is also true.

WoS also have real working watches in their display case. I tried on 124060 and BLNR and was told that they can only be sold when they get another one in to replace the display version.

Originally Posted by padi56

Complete and utter nonsense all ADs are in business for one thing only and thats to sell as many of there products to all that enters there retail store.

If you think about it, just because there are specifications of who to sell to, it doesn't mean that the product won't sell.

If their check list identifies 32 people to sell 7 BLNR, then they would have sold all their BLNR models they got in-store

[johnwigan]

This may be UK only if true. Possibly, Rolex trying once again to nix the flippers and sell watches to their normal non-flipper customers who are fed up waiting. If true I would expect the 'no new customers' to be time limited whilst they catch up with the backlog from regular customers. If new customers can register then flippers who have bought their allocation already would just get someone else to register.

No idea if it is true or not though but if it is true, good news for watch enthusiasts and bad news for flippers. They did try holding warranty cards for a year in the UK in the past, so it could be true. Grey dealers and flippers do not benefit Rolex and damage their brand, no better than ticket scalpers these days, so it would not be impossible that Rolex would try something like this. The future is definitely getting brighter for the guys who just want to buy a watch to wear.

[Rolexken]

Originally Posted by Harry-57

Anything he posts has a high potential be the opposite of what is actually happening.

Sounds like smoke and mirrors. One rule for everyone = different rules for anyone on a case by case basis. It's human nature and it's how the world works.

Can’t disagree there lol.

Just checked Watchfinder UK and they have taken a lot of Rolex watches off there site (approx 450 down to approx 350) and a lot of new reductions - a 2022 126610 LN has gone from £16.5k to just over £14k. Many watches down 5-15%. Still an expensive store but demonstrates the price movement in the grey market

[Harry-57]

Originally Posted by Rolexken

a 2022 126610 LN has gone from £16.5k to just over £14k. Many watches down 5-15%. Still an expensive store but demonstrates the price movement in the grey market

Still way too high but going in the right direction.

[watchmaker]

Originally Posted by multimedia

So be it, but as stated in the video (I just browsed through it) it's all the same stuff we've heard here trough the years = (again) "My AD told me this and that" = nothing concrete, no press releases, etc. So it's all speculations.

Don'g get me wrong, I'm all for watches being available to the broader audience, again = like it used to be = we don't need to rewind the tape more than a couple of years when you could actually go into an Rolex AD in Hong Kong (of all places) and they would offer you the standard 8% discount on a 114060 (I'm a living proof of this).

But again, these are just hearsay and personality I take this very lightly (right way to say it in English?) before I actually see any proof. Before that, it's just speculations. Speculations about AD's, which we've heard over and over and over again.

Cheers,
Joe

When specific ADs in the UK are telling their customers about a policy they have or will be implementing soon, it goes a little beyond speculation.

Further, of all the fanciful "my ad said..." posts, this one both makes sense and actually stands to benefit the majority. (which I suppose lends credence to suspicion )

[RogerOP]

Originally Posted by watchmaker

When specific ADs in the UK are telling their customers about a policy they have or will be implementing soon, it goes a little beyond speculation.

Further, of all the fanciful "my ad said..." posts, this one both makes sense and actually stands to benefit the majority. (which I suppose lends credence to suspicion )

Exactly.

We're talking about multiple statements from the same AD and even a document and a quote to prove it and people are still saying it's "nonsense".

I'd rather listen to the AD and their SA rather than randoms online.

[johnwigan]

More watches being sold to non-flipper customers combined with already falling grey market prices and the post COVID return to normality means flippers/Greys/'investors' being squeezed even more. The gravy train may be reaching the end of the line.

[multimedia]

Originally Posted by watchmaker

When specific ADs in the UK are telling their customers about a policy they have or will be implementing soon, it goes a little beyond speculation.

Further, of all the fanciful "my ad said..." posts, this one both makes sense and actually stands to benefit the majority. (which I suppose lends credence to suspicion )

Again, I'm first in line if this means more watches gets available to the wider audience :)

I just can't see the difference when hearing about this = this is exactly "AD said this to me", when compared to all the other "my ad said..." stories we've heard on this forum before.

But sure, I hope it's correct and it means that they = flippers/greys will see less watches, and instead the watches actually DO end up with the rest of us (keepers, that love watches for what they actually are)

Originally Posted by johnwigan

More watches being sold to non-flipper customers combined with already falling grey market prices and the post COVID return to normality means flippers/Greys/'investors' being squeezed even more. The gravy train may be reaching the end of the line.

And yes, this we have already seen enough proof of to know it's true. Which of course, is very very good news. :)

Cheers,
Joe

[watchmaker]

Originally Posted by multimedia

...I hope it's correct and it means that they = flippers/greys will see less watches, and instead the watches actually DO end up with the rest of us (keepers, that love watches for what they actually are)

Cheers,
Joe

I'm sorry to say that it will 100% not mean that resellers will see less watches. It just means that more people will be able to flip. The overwhelming majority of watches for sale on the secondary market, got there because of customers - many of them "watch enthusiasts". Not a global cabal of ADs conspiring. ADs can't organise their front window, never mind a conspiracy.

The exponential growth in watch demand is not because all of a sudden millions of people realised that a Sub is the perfect go anywhere do anything watch, or that life is easier with a Daytona so that you can time all of life's moments.

Watches are popular today because..MONEY

[Harry-57]

Originally Posted by watchmaker

one both makes sense and actually stands to benefit the majority. (which I suppose lends credence to suspicion )

Benefits the majority of existing customers, takes new customers out of the equation. Doesn't seem fair, but WOS are so big and up themselves, it' not surprising. They also seem to have a diabolical reputation for allegedly driving the grey market. Or so I'm told. A new leaf or double standards?

My AD is taking a more balanced approach, getting new people into the brand while aiming to fairly distribute allocations among existing customers who are waiting.

Anyone who believes this policy to be final and ubiquitous will be waiting the longest, or maybe not even going onto waiting lists. Plenty of customers and SAs will be slipping through loopholes or steering round it. I thought the manager/owner gets the final say when a Rolex is about to be sold? This throws one more variable in. Maybe WOS don't have such supervision.

[multimedia]

Originally Posted by watchmaker

I'm sorry to say that it will 100% not mean that resellers will see less watches. It just means that more people will be able to flip.

Why would you flip something that you can't get much money for (if you can even sell it)?

Did people flip before 2018/19-ish? Yes. Was it a mad house back then? No. Did people care about money then/before then? Yes.

It's about crypto, market, free money, etc etc that was created during covid (and a bit before that).
What comes up, always goes down (Tulip mania is a very very good example = speculations). IMHO, we will look back at this phenomenon and just laugh at it all. This will go away.

Cheers,
Joe

[AmirudinAbduk]

To be fair , my AD also part of WoS told me exactly the same thing.

[JPS]

It's not as clear cut as that.

Do they also realise that they have historic, high level spenders who are getting the pieces & flipping them for profit. Yet, nothing happens to those guys. They are just allowed to keep on doing it.