Thinking of overpaying for a Rolex? You're an idiot!

[Dr Watches]

People pay whatever they want. These watches are all overpriced, even at retail. Moralizing around the purchase of a luxury watch seems pretty silly.

[joe100]

I have money discussion fatigue.

I remember a time on here when we discussed watches, not how much they cost and how hard they are to get.

[Muxi]

I think price fixing has its limits. Demand from the market must be sustained over a long period to work. The moment the market loses interest, any price fixing will eventually fail.

[watchaser]

I love that this forum has grown tremendously but at the same time i do see more noise than ever. It's your money so "you do you".

If you want something and time is money, i have no issues with anyone paying over msrp. I feel we're all educated buyers here. If you can swing it and the market supports it than what's the issue? As a buyer/seller who purely does this as a hobby, if I can get in and out for close to what i got into a piece for than that's win. Regardless of what I pay and it all goes back to the supply and demand.

Other than the BLRO when it came out, I just haven't seen the market take that big of a shift for anyone who paid over msrp to be taking big losses.

Just my 2 cents...

[ashokleyland]

Members here who bought their watches above retail price will get butt hurt of your strong choice of word- “idiot”. Infarction incoming?

In other forum site there is a thread like this, but the story is opposite. He is proud of buying from grey market, and his ego is very big and lambasted anyone contradicting. Maybe some read it already, his username is “sportura” maybe he is here on this site as well.

[LuminousMaximus]

I really can't discuss this on an open forum...

But the word Idiot, is a little strong for our comrades who chat here on TRF

[Juantxo]

The truth of the matter is that the Internet exacerbates obsessive-compulsive behavior, and appeals to the weaker links of the neuronic chain.

There is a scale from rational and healthy to insane and irresponsible behavior. In terms of Rolex, a watch known for reliability and longevity, from a steel Dayjust to the African jungle Daytona or worse.

No doubt sites such as this one promotes consumption and slightly pushes the bounds of mental health. Rationalize it anyway you want, insult, demean, rave and rant, call it fun or the freedom to spend your money anyway you want, at the end we all obey to the same structure of cells flashing in the central nervous system. Moreover, we all know, deep inside, that yearning for a yellow gold Sub makes no sense but somehow we go for it.

I tend to admire the old Greeks and the mantra of moderation. I also believe that Rolex ought to take steps to extinguish the sale of their watches on the gray market.

Ok, now flame away.

[Ravager135]

I'll never criticize someone for paying whatever it takes to get them something they want. Paying for any Rolex over MSRP these days is essentially a convenience fee. Who are we are criticize that? I wouldn't want to wait months or years to get something I want now.

That said, many of us speak with the luxury of already possessing several Rolex pieces. I've said numerous times, I feel really bad for new buyers. You're either going to wait a long time or you're going to pay a lot to get what you want now. It wasn't always like that. In the time it would take me to get a BLRO (a piece I would probably be interested in acquiring to add to my BLNR), I'll probably lose interest and end up getting something else. Now, if I didn't already have a GMT-Master II and it was my dream watch, I am stuck in a bad position.

[eltonbalch]

There are lots of variables that factor in to how much I’m willing to pay for goods and services. I’ll buy things online that cost more just so I don’t have to physically go to a store and hope they have what I want. I’ve already spent too much time and effort just going back and forth to my two local AD’s hoping to find a specific Rolex. At this point, I’ve concluded I’ll have to pay grey market prices or forget getting any desirable pieces. Most here think nothing of buying a new car which declines significantly in value the second you dive it off the lot. At least a Rolex retains significant value over time. If you enjoy the chase (and there are times when I do) then go for it. I’m rethinking that for now.

[datejust24]

Originally Posted by padi56

Myself would not pay some of these crazy prices asked by the grey market,but while there are those willing to pay, then grey market will thrive and prices stay high.

Agree 100%, Peter.

I think the biggest issue I have with the direction pricing has gone is the fact that I could care less how much money I make, it’s principal...paying absurd prices for a SS piece that is damn near fetching PM prices is beyond me...I get it, there are a lot of people that make F you money, that isn’t me...I do just fine but again, willingly paying these hyper marked up prices, as stated above only fuels the greys that at this point, I’m not sure whether it’s irony or coincidence, stock the “hot” references...bottom line is that Rolex sells in bulk to the resellers who end up waxing the people’s asses willing to fork it over and to me that is going ass backwards (for the end buyer, not the grey) IMO...rather than accepting the fact that you’re about to get hosed on a watch bc it’s for sale right in front you, and because you make that much cash, go to the local AD and buy 3 pieces to build a foundation on..the difference your paying for that apparent super rare SS watch which there’s a shortage of Will afford you basically whatever you want...that probably makes too much sense to someone that has made more money in the time it took to write this, than I will have by the end of the year, but again, it shouldn’t be about your salary...it should be about the fact that you aren’t ok to knowingly pay whatever number someone throws at a board and sticks bc it’s the “market”....this issue will likely not end unfortunately...my question then is, where does it end???? once these pieces hit $30k and keep moving up bc the Uber rich just don’t care to pay it, the problem remains...only now, the issue is far worse and even with a correction will likely never adjust to where MSRP initially was...your taking a luxury item which already carries a hefty premium and saying to hell with all that...I make blah blah so I’ll pay this...makes zero sense.

[TswaneNguni]

Originally Posted by Art 1

For me I don’t care what others do or how they choose to purchase their watch. A buddy of mine just paid David over $20,000 for a steel Daytona. That’s less than a weeks pay for him. He wanted the watch now. He’s not dumb. He would not have bought it if it fell in half for resale. Likewise I don’t blame a flipper. It’s only a watch. They aren’t that hard to come by. So for me I don’t care what others do.

$20k per week = $80k per month = $960000per year

I painstakingly did the sums ...I even recalculated, nope ...I do not even get close to that !!

[Zakalwe]

Originally Posted by LuminousMaximus

I really can't discuss this on an open forum...

But the word Idiot, is a little strong for our comrades who chat here on TRF

With respect, you've misinterpreted my point by 180 degrees. I'm not calling anybody an idiot. Quite the opposite in fact.

I admit the thread title is clickbaity. But then again who wants to waste 10 minutes of their life writing something for public consumption then not have anybody read it?

Originally Posted by ashokleyland

Infarction incoming?

I certainly hope nobody has a heart attack as a result of what I've written. Least of all me.

[tyler1980]

FWIW i think underpaying for a Rolex at a secondary dealer is just as bad... probably worse because it also devalues the brand we love

want to overpay, OK at least you are not hurting everyone else value retention

underpaying means you also have to overpay too because of your preferred sales channel... so it all works out in the end. to each their own

[WoundUpInTheSouthUSA]

Originally Posted by Dr Watches

People pay whatever they want. These watches are all overpriced, even at retail. Moralizing around the purchase of a luxury watch seems pretty silly.

I agree with this. I love my rolex and plan to buy more, but they are a luxury item and luxury items are always "overpriced". I don't envy or judge anyone for making money in a capitalist way as long as laws aren't broken.

[beshannon]

Originally Posted by padi56

Myself would not pay some of these crazy prices asked by the grey market,but while there are those willing to pay, then grey market will thrive and prices stay high.

Agreed.

The thread title is borderline trollish and not very conversation friendly.

[Brew]

Why does anyone "need" to know. Every time I see a post in The Who's Who touting this seller or that buyer, I wonder why anyone would have their business posted like that in a public forum.

[TswaneNguni]

Originally Posted by tyler1980

want to overpay, OK at least you are not hurting everyone else value retention

Very valid point .

Grey buyers ..I LOVE you !!

[PossumDixon]

People pay over retail for 2 reasons.

1) The watches aren't available at an AD, no matter how long you wait, unless you have some relationship.

2) They want the watch now.

Both great reasons, in my book.

[glamorama]

Originally Posted by HONDABBQ

Another poster said it earlier in another thread that, now its not just about how much money spent on the purchases, its now a status to own the hard to get watches, and be perceived to be the big spender to have acquired said watch. Spending 40k on a PM is less appealing than someone who has the Daytonas, or the BLROs of the world.

Again, for some at least, that have gobs and gobs of money like the above posters friend making 20k a week, its a bit different.

Exactly! It is the snobb factor at play.. the 'status' of saying they bought a watch from AD at retail.

We all know that the only way to get there (with exceptions) is to spend a shitload of money on watches that are not hot first, being a celebrity, or having been in the game for a long time to have established AD relationship prior to this craze.

If I would take a stab at profiling the first category I'd say they are the same guys who take pride in having a platinum loyalty card with an airline. They are usually high income professionals wanting to gain one up on their peers.

I have recently dealt with a 'gamification marketing' company for a client and got some insights on how companies play on basic human insights to nudge them to make purchases and follow an ever increasing spending spiral. The science behind behavioural marketing has gotten quite advanced and is prolific within luxury consumer goods, supercharged by social media and big data. Would surprise me if Rolex admittedly masterful marketing team does not employ some of those techniques.

[214270Explorer]

I neither tell others what to do with their own money, nor do I care.
That is their own personal choice.

[Harry-57]

My money, my life, my watch. I don't need to justify it or excuse it. I'm happy to share experiences and learn things from the WIS community. It's obvious that many people here don't run a business and don't understand what it takes and how it works. Or see the bigger picture past the in demand Rolex models. That's fine. It's a big world. And everyone is entitled to their opinion. Same as me.

[zjd168]

While I agree on the discipline of not paying the crazy premium, I really don't care or make judgement on how others decide to spend their money. To many riches, the cost of the Platona is not even the pocket change, definitely not hard-earned money at all. They might be the people laughing at someone as idiot, who needs a salary job and still has mortgage to pay, spends that much to buy luxury watches.

[tjs00]

Originally Posted by dkg1616

Economics 101: supply and demand

Yes to that! Now someone just needs to tell Rolex to fix their supply or their demand. They can do either - ship more watches or raise the MSRP to the proper price based on supply. Why are we being forced to give our cash to flippers instead of the company whose watches we adore? Nothing against flippers, they are doing a service that Rolex isn't willing to take on. Capitalism FTW.

[zengineer]

Originally Posted by tjs00

Yes to that! Now someone just needs to tell Rolex to fix their supply or their demand. They can do either - ship more watches or raise the MSRP to the proper price...

Or release less and less desirable watches...

Sent from my SM-G950U using Tapatalk

[shaunylw]

Originally Posted by Zakalwe

First up and for the record, I’m an AD guy. I always have and probably always will only buy from an AD, because I just have a mental block about buying from resellers. For that reason I essentially overpaid for all of my non-Rolex watches, even though I got discounts on some of them.

That being said, I am seeing a number of threads in which I see a lot of heat for people who are contemplating spending their own hard-earned money, not hurting anybody else, buying watches they love. These are the people who dare to pay “inflated” prices for their watches, who are apparently ruining the hobby for everybody else by supporting the grey market. Or, in other words, people actively participating in a capitalist economy. It seems that supporting the grey market is only ok if you buy at a discount. Or perhaps if you buy from a TS on here.

A mantra on TRF is “buy what makes you happy” but it seems like the mantra ought to be “buy what makes you happy, so long as you don’t pay more than a certain, arbitrary number that the forum has decided is the “correct” price, in which case you are worthy of ridicule.”

I really don’t get it. First of all, there is a glass-house stone-throwing element here. If you own a Rolex, the vast majority of normal people will think the exact same thing about you – namely that you ludicrously overpaid for something that is adequately functional at best. In that context I don’t get the desire to throw shade on people who are doing the same thing, only to a slightly greater degree. Secondly, it’s not like people actively want to overpay for a watch. It just so happens that, if you want a SS Rolex and you haven’t already spent a boatload with an AD, your choices are to not buy the watch at all, or pay the premium. If that person is wealthy enough to be able to afford to pay the premium, their time is too valuable to play the sorts of games that certainly I had to play to get mine and they don’t want to wait years for a watch they may never get, what is so terrible about forking out a bit of extra wonga?

I say live and let live.

I've never purchased a single watch from an AD and doubt I will. I don't really need their wait times and they probably don't need my business. It works out well. They continue to backdoor watches to dealers and I get my watches the way I have always sourced them, through other dealers. My "premium" has hardly been a premium and I get what I want immediately. The only lines I want to wait in are Disneyland and the sample lines at Costco.

[TopDog2315]

Originally Posted by Art 1

That’s right. I’m thinking when the economy goes back a few steps and it will much of this will stop or slow down. You remember what happened last time. And this I know to be true. That many ADs are tired of seeing grey sellers make these huge mark ups and want in on it a little more. What that will do, who knows. Either prices will go up. Or greys will make less. Greed is human nature. And the AD’s are starting to resent this.

Sounds about right.

I just spoke to an AD in Cancun, Mexico a few weeks back and he told me that he receives "specialty pieces - SS professionals" pretty often like by-monthly and he told me Rolex decides which ADs they want to release these pieces to. He told me that even if he would have a SS Daytona in stock he wouldn't sell to me, because he wants to develop a relationship with his customers before releasing the piece, this way it limits the risk of selling to a grey. He said North America, US and UK ADs are purposely being targeted/shortened of these pieces due to a lack of screening/awareness within their clientele. This could be a load of ..... but nevertheless somewhat makes sense.

Thoughts?

[Dr Watches]

Originally Posted by datejust24

Agree 100%, Peter.

I think the biggest issue I have with the direction pricing has gone is the fact that I could care less how much money I make, it’s principal...paying absurd prices for a SS piece that is damn near fetching PM prices is beyond me...I get it, there are a lot of people that make F you money, that isn’t me...I do just fine but again, willingly paying these hyper marked up prices, as stated above only fuels the greys that at this point, I’m not sure whether it’s irony or coincidence, stock the “hot” references...bottom line is that Rolex sells in bulk to the resellers who end up waxing the people’s asses willing to fork it over and to me that is going ass backwards (for the end buyer, not the grey) IMO...rather than accepting the fact that you’re about to get hosed on a watch bc it’s for sale right in front you, and because you make that much cash, go to the local AD and buy 3 pieces to build a foundation on..the difference your paying for that apparent super rare SS watch which there’s a shortage of Will afford you basically whatever you want...that probably makes too much sense to someone that has made more money in the time it took to write this, than I will have by the end of the year, but again, it shouldn’t be about your salary...it should be about the fact that you aren’t ok to knowingly pay whatever number someone throws at a board and sticks bc it’s the “market”....this issue will likely not end unfortunately...my question then is, where does it end???? once these pieces hit $30k and keep moving up bc the Uber rich just don’t care to pay it, the problem remains...only now, the issue is far worse and even with a correction will likely never adjust to where MSRP initially was...your taking a luxury item which already carries a hefty premium and saying to hell with all that...I make blah blah so I’ll pay this...makes zero sense.

Do you know what’s worse than overpaying? Not using paragraphs.

[1665fan]

Originally Posted by TopDog2315

Sounds about right.

I just spoke to an AD in Cancun, Mexico a few weeks back and he told me that he receives "specialty pieces - SS professionals" pretty often like by-monthly and he told me Rolex decides which ADs they want to release these pieces to. He told me that even if he would have a SS Daytona in stock he wouldn't sell to me, because he wants to develop a relationship with his customers before releasing the piece, this way it limits the risk of selling to a grey. He said North America, US and UK ADs are purposely being targeted/shortened of these pieces due to a lack of screening/awareness within their clientele. This could be a load of ..... but nevertheless somewhat makes sense.

Thoughts?

He also won’t sell to you because are not buying diamonds or PM pieces where they are bending you over without Vaseline.....

[woof]

I think some people don't have access or relationship with AD. I really think watches are personal items. If they want to buy the watch at market price, they should buy it with no regrets or given a hard time.

[singe89]

Very easy process for me. If I want a watch I will call all the boutiques and ADs in my area.

I've gotten responses like "you need to buy these two watches before I can put you on the list" or "if you buy $20k+ in jewelry I can get you on a list" (none have accurate estimates on delivery BTW) or even "our lists are closed".

So then I reach out to the TS and pay a premium but have it next day. If I value the watch at the price offered in the time frame presented then they get my $. If the grey price is too high and I don't see the value I move on.