What was the Rolex buying experience / market in the early 2000s?

[tony_leotardo_jr]

I got interested in watches in middle school in the early 2000s when I’d read my dad’s magazines and see the rolex, breitling, IWC, and Cartier ads. So it got me wondering, what was the rolex and general watch buying experience in the early 2000s? What was the market like?

[Halifax Daytona UK]

Originally Posted by tony_leotardo_jr

I got interested in watches in middle school in the early 2000s when I’d read my dad’s magazines and see the rolex, breitling, IWC, and Cartier ads. So it got me wondering, what was the rolex and general watch buying experience in the early 2000s? What was the market like?

Here in the UK most models were available at AD’s as walk in’s and with a discount. I bought a GMT in 2004 , black dial , at an AD with a discount whilst adding my name to the wait list for a 116520 which I got about 3 years later ( the Daytona was the only one with a wait list IIRC , )

[Nairn1980]

Originally Posted by tony_leotardo_jr

I got interested in watches in middle school in the early 2000s when I’d read my dad’s magazines and see the rolex, breitling, IWC, and Cartier ads. So it got me wondering, what was the rolex and general watch buying experience in the early 2000s? What was the market like?

As above, I can comment on the UK.
My first Rolex was exactly 20 years ago, and my visit to the AD saw multiple of every model you can think of including steel subs, steel GMT (coke and Pepsi), as well as plenty of datejusts. There were no games or exhibition only nonsense.

I picked a datejust over the others, negotiated a bit of a discount and left with my watch. The whole experience was so lovely.

It’s such a shame we now have to beg to spend our money, and sadly the role between AD staff and the customers has reversed.

[rbox]

I bought my first in 2009. There were more small dealers, more inventory and you could generally get 10% off or sales tax paid just by asking. I saw plenty of GMTs, subs and Explorer IIs in cases and even Daytonas from time to time, and they were all available for purchase. It was nothing like it is today.

[Scapegoat]

Walk in and get whatever you wanted (except daytona), discount without asking :(

Rolex Sub 114060 $10400 SGD retail price, offered a 10% discount. Grey was $8k+, guess where I went in the end haha

[joli160]

You were offered a discount upon entering the AD and you were treated like it should be.
Only the Daytona was hard to get

[OldLume]

In one word...easy. You could purchase most models on a whim. Stainless daytona's and the 50th anniversary sub when released at first, no. I well remember how shocking it was at the time to see that green bezel. The 50th anniversary sub was used on a lot of billboards back then for city AD's. A purchase was still treated with the same type of luxury care it is now. Maybe even more so because the staff was not handling the volume of customers to turn away as now. I posted a page from a pamphlet I found in my catalog pile the other day. It is from 2009. Just 15 years ago the president of Rolex USA penned the intro letter regarding magazine reviews Rolex reprinted as testimony to the quality of their watches. Think about that for a moment, it's quite hard to believe now.

[tony_leotardo_jr]

All of this is pretty insightful. Pretty interesting even at that time Daytona’s were still pretty challenging to get. What’s also sad is the decline of the small town dealer. In my hometown where I grew up I remember a dealer near my sister’s old school, but believe they ceased being a rolex dealer about 7 or 8 years ago. Ironically I think it’s kind of what built the brand in the United States. How do you all feel about the originality when it came to enthusiasts at the time? It seems nowadays most people converge to a few types of watches given social media/hype but interesting that the Daytona was still so difficult

[tony_leotardo_jr]

Originally Posted by OldLume

In one word...easy. You could purchase most models on a whim. Stainless daytona's and the 50th anniversary sub when released at first, no. I well remember how shocking it was at the time to see that green bezel. The 50th anniversary sub was used on a lot of billboards back then for city AD's. A purchase was still treated with the same type of luxury care it is now. Maybe even more so because the staff was not handling the volume of customers to turn away as now. I posted a page from a pamphlet I found in my catalog pile the other day. It is from 2009. Just 15 years ago the president of Rolex USA penned the intro letter regarding magazine reviews Rolex reprinted as testimony to the quality of their watches. Think about that for a moment, it's quite hard to believe now.

Just read it, pretty interesting how much times have changed. The intro letter definitely feels more like Rolex proving its value than relying on its brand value - they still produce great watches and think set the industry standard - it feels all the other brands other than some of the independents definitely follow Rolex’s lead.

On the 50th anniversary point, I can feel the enthusiasm one might have experienced seeing the green bezel for the first time

[padi56]

Originally Posted by Halifax Daytona UK

Here in the UK most models were available at AD’s as walk in’s and with a discount. I bought a GMT in 2004 , black dial , at an AD with a discount whilst adding my name to the wait list for a 116520 which I got about 3 years later ( the Daytona was the only one with a wait list IIRC , )

Have to agree but that was before they become to many as just ££$$€€ objects things and little more. Just wish those bygone days came back when owners bought there watches to wear and enjoy. And not because of any hype surrounding watch the dial or bezel colour. Plus todays loupe madness worrying over the exact second etc, is it safe to take my Rolex out of the box and wear it outside in the air. Fretting over bits of plastic like hang tags etc, with many of todays Rolex owners I sometime wonder why they bought a Rolex if its going to cause so much worry. Watches like the SS Daytona was always hard to get since its launch with the in-house cal 4130 way back in 2000 once the hype started. And at the time you could buy a TT Daytona easy from a AD for around the same money as the SS Daytona was bringing on the hype grey market.

[tony_leotardo_jr]

Originally Posted by padi56

Have to agree but that was before they become to many as just ££$$€€ objects things and little more. Just wish those bygone days came back when owners bought there watches to wear and enjoy. And not because of any hype surrounding watch the dial or bezel colour. Plus todays loupe madness worrying over the exact second etc. Is it safe to take my Rolex out of the box and wear it outside in the air. Fretting over bits of plastic like hang tags etc, with many of todays Rolex owners I sometime wonder why they bought a Rolex if its going to cause so much worry.

Definitely a good point. My first rolex was the yachtmaster 40 in rhodium and when I told someone I got it their first reply was it’s a scratch magnet because of the polished center links and bezel. But in the back of my mind I thought if it was selling for 1.5-2x higher on the secondary market probably wouldn’t have that criticism. To be fair he wasn’t exactly wrong but it’s more fun to wear these for what they are

[OldLume]

Originally Posted by tony_leotardo_jr

All of this is pretty insightful. Pretty interesting even at that time Daytona’s were still pretty challenging to get. What’s also sad is the decline of the small town dealer. In my hometown where I grew up I remember a dealer near my sister’s old school, but believe they ceased being a rolex dealer about 7 or 8 years ago. Ironically I think it’s kind of what built the brand in the United States. How do you all feel about the originality when it came to enthusiasts at the time? It seems nowadays most people converge to a few types of watches given social media/hype but interesting that the Daytona was still so difficult

The watchmaker was the enthusiast when I was young. Talked me into buying a slightly used sub in the summer of 1981. I went looking for a dive watch that could withstand the surf with my high school graduation money. Different world then. A customer had traded it back in on another model a few days after purchasing it. The Rolex name meant nothing in my 17year old world.

[tony_leotardo_jr]

Originally Posted by OldLume

The watchmaker was the enthusiast when I was young. Talked me into buying a slightly used sub in the summer of 1981. I went looking for a dive watch that could withstand the surf with my high school graduation money. Different world then. A customer had traded it back in on another model a few days after purchasing it. The Rolex name meant nothing in my 17year old world.

Haha neither did 5513 probably

[jimcameron]

About 1980 I was at work, called up a small 1 man jewelry store asked if they had a Sub-date. Said they have one. Took the subway, shelled out $800 and left with a brand new, in box, papers, etc, Sub. In those days, Rolex was not so high and mighty about things.

[thesharkfactor]

September 2004 I called around every AD in Scotland looking for a 16610 Submariner but could not find one. I settled for a 14060M Submariner on the shelf at the local AD in Loch Lomond, I could have bought a 16710LN GMT off the shelf at the same AD.

[996marty]

20 years ago here in the uk it was completely different to how it is nowadays and that is buying new and grey

[mini sub]

Market and typical buyer were totally different as were expectations. None had silly nicknames, no one took photos of their watches....and get this...people bought them so they could tell the time.
I had three Rolex dealers near me 20 miles apart, all independent privately owned by people I knew, very old school gentlemen who knew their stuff inside out. They are all long gone now. One exists but is owned by a group, one closed down and the third lost its agency before covid and now sells used only. They'd typically always have 40-50 Rolex in stock with nice selection across the range all priced and in the window display.No silliness, you'd see what you want and go in and leave with watch after a sizing. I remember a few times I would ask for a different dial say on a DJ....they seemed to have those in stock too and would do it for collection next day at no cost.
Prices didn't seem out the way either, GMT were not cool and desirable but rather the watch your uncool uncle would buy because he travelled more than he went diving lol. They were 2k and almost half the price of a Yacht Master which as considerably more desirable. I bought several watches, would chop and change just for the heck of it until I got bored and settled with an explorer a Yacht Master and Sub.
No one commented on your watch, no one cared. Thieves wouldn't know one from ten paces and you never felt the need to hide nor not wear one for security issues. No one knew about accuracy, no on cared. No one bothered about scratches because for £300 you could sent it away and it would come back looking like new which was considered a good thing.There was no info, no one cared about what number the movement was.I bought mine bcause they were soild, reliable and hard wearing. Discount was always available especially for cash. Happy days...

[Rockeater]

As recently as 2014 I was able to walk into an AD in the UK and choose between Sub Date Black or Hulk, out of the cabinet. Deposit down, finance at a great rate over two years. Job done.

[AK797]

In the late 2000s in London you could see nearly all models for sale but unless you were a WIS you would not think to ask for a discount, just like you wouldn't in Harrods, as these really were luxury goods then, which meant ofc that they depreciated alot after buying. So thats why demand was low, now once prices rise they are harder to get, yes, but they are no longer a luxury as everyone with a credit card can buy one and flip one, so those are the two worlds, prohibitive luxury and price or prohibitive availability and investment.

[Bmats]

I was shown a catalogue and told I could get any model I wanted for a 10% discount that they offered once a year. For some reason (late 90s not 2000s), I selected a two-toned date just.

[travisb]

Walk in, have your choice of any reference you could want (except SS Daytona) and walk out with your watch often at a discount. I got 20% off a SS Sub as well as many others. The good old days of collecting..

[GB-man]

Buying a Rolex back then was like buying an omega today.

[marmite2005]

I bought my first Rolex March 2002,WOS Threadneedle Street. I walked in tried on a few watches and was deciding between a Rolex 15200 Date, Salmon dial, smooth bezel or a JLC reverso on bracelet. The JLC was more expensive and I liked the practical waterproof Rolex more. I had done a lot of research on timezone forum and back then it was customary to ask for a discount, I can't remember exactly the discount but it was something like 5%-10% on Steel and upto 20% on PM pieces. I got my discount and the watch was ordered and it arrived within 10days or so. I paid £1700.

Apart from the price and easy attainability of Rolex's, the rest of the buying experience was very similar to today. You had a doorman, 2 or 3 sales people, dressed in suits, you got offered refreshments and got to chat about watches.

I do remember looking at Sub Kermits in the window during early 2000's which where very easy to get, as no one wanted the strange looking green bezel. Everyone in the city wore either a Black Sub or Cartier Tank if you was young, middle aged guys wore TT Datejusts and senior management wore DayDates. Women all had Gold Datejusts on the president bracelets or Gold Cartier tanks. You never saw any others brands on the dealing room floors during the 1990's and 2000's amongst the Brits and Americans.......that was until more Europeans started moving desks to London, the Italians, French, Swedes started sporting all these strange brands like Paneria,Omega and Piaget

[slide13]

As everyone says, watches were easily available and with a discount. Probably ‘03 or ‘04 I walked into a mall AD and picked up a black Explorer II for 20% discount. Now this particular watch had been in their case a while so they were discounting it a little more than normal for me to move it. That was my first Rolex ever, was still in college.

But you don’t have to go back that far either, 2017 you could still walk in and buy most any watch outside a Daytona. I turned down an 116610LV because the shop wouldn’t discount. Went to another and got an 114060 at 15% off, got to pick between the two they had in stock. That was right at the beginning of the madness, discounts were starting to become harder to get depending on the AD, availability was still good but not guaranteed, they could be out of a particular model on a given day but would likely get one in soon. Went downhill from there.

[chapmpe]

Im 2012 I walked into a local AD in the Midwest and had the choice of a white or black Daytona, so picked up a white one.

[vinny84]

Had the same experience as everyone else when I bought my first Rolex in 2017. Walked in and they had literally all models except ss Daytona. They had the Sub Hulk, Bluesy, Batman etc. All displayed and available for cash discounts. Was deciding between a Sub and the Batman and luckily went with the Batman.

A few months later I walked in and my AD was cleared out of stock and that is when the madness began. So it was nice to have experienced it for my first purchase at least.

[Calatrava r]

Completely different from today. In the US there were two or three jewelry stores in most nicer malls which carried Rolex. Cases were full of watches and most models could be had at a small accommodation. What I observed was people would start with SS, trade up to TT and maybe then to a DD. Most people I knew owned one Rolex which they wore all the time. I never knew any collectors back then.

[RolexBHR]

2009, everything was available at discount typically 10%, Daytona +/- 6 months wait. Ladies DJ especially TT models up to 30% off.

[brome]

Originally Posted by vinny84

Had the same experience as everyone else when I bought my first Rolex in 2017. Walked in and they had literally all models except ss Daytona. They had the Sub Hulk, Bluesy, Batman etc. All displayed and available for cash discounts. Was deciding between a Sub and the Batman and luckily went with the Batman.

A few months later I walked in and my AD was cleared out of stock and that is when the madness began. So it was nice to have experienced it for my first purchase at least.

^^^^ This. 2017. Walked in, AD has all sorts of stuff. Left with 114060. Paid 6700. 2017 to now...wow.

[Gearjockey]

Something I noticed in another post regarding who controls the allocation of Rolex seems different as well.
Back in the early 2000s, I was trying to decide between a GMT Master II and a Speedmaster Pro at a local jeweler and there was no manager or owner involved.
At least none I could perceive.

The SA was able to just say “yes sir, you can buy either one”.

This part I find highly annoying, but that’s the way it is with tight S&D.

I’m hoping the revenge of the buyer returns, and these AD’s are on their knees again.