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Old 23 June 2022, 07:37 PM   #31
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Why would you flip something that you can't get much money for (if you can even sell it)?
"much money" is subjective.

$500 profit is a lot of money to a lot of people, and it's a bottle of wine at lunch for plenty others.

People in the latter group should endeavour not to comment on what people in the former do to pay their bills (providing it's legal). Most people at the top get there by hustling after all.

I stand by my comments, more buyers will mean more flippers. But will unlikely change the number of watches at resellers.

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Old 23 June 2022, 07:43 PM   #32
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When we see proof (and what we're seeing right now, is that people have a real difficulty to even sell their watches to greys, and prices from grey's have come down quite a lot already), we will know. Until then, we can speculate all we want (after all, we're pretty good at doing just that on this site)

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Old 23 June 2022, 07:58 PM   #33
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Falling values in the grey market could push demand up at the ADs as people who were willing to pay 2 or 3 times retail because it was a "safe bet" suddenly get cold feet but still want a watch so try to go down the AD route (a route they didn't feel they needed to take before).

So in a strange way falling prices and a lack of liquidity in the used market has made it harder than before to get a watch from an AD.

And this is the response, less watches to single individuals but the door is closed to new customers.
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Old 23 June 2022, 08:02 PM   #34
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Well again, I do struggle to see the logical part here. Can we just look at how the market behaved before 2018/2019-ish? So what you guys are saying, we are not going back to that ever again, or? If so, I personally finding that very hard to belive. A new thing will pop up, as it always do, be it trading cards, sneakers, art, music instruments etc etc, and then watches won't be THE thing people belive they HAVE to own to be cool.

Nothing lasts forever.

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Old 23 June 2022, 08:08 PM   #35
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So Rolex is now enabling jewelers to force "new" customers in buying stuff they don't want or need in order to have a prior purchase history and then have the privilege of being on a list for the possibility of a Rolex.(?)

What if your particular AD only sells Rolex. Which Rolex would you then have to buy, could you even buy, to establish a purchase history with that Rolex only AD?

I just don't understand why Rolex thinks this will work?

Are they saying that a whole generation of Rolex buyers have to essentially grow old and die or go broke before they will open the AD to truly new customers?

I don't know what's worse. ALS outwardly saying that models like the Odysseus is off limits unless you buy a Saxonia or other entry level watch(es), or a tacit, super secret, double secret probation rule that seems to funnel watches to a privilege few, unless you buy an unclear number of watches or jewelry of a certain kind to even get on a list to possibly buy a watch....perhaps down the road when your "purchase history" is deemed sufficient.

This is so insane.
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Old 23 June 2022, 08:11 PM   #36
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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
Donít need to be a whale, but we do have choice.

For many people stuff like this makes the brand less attractive.
Personally there are a perhaps couple of Rolex watches I like enough to walk into a store and buy at the inflated list price.

But none that I like enough to feel I have to build a relationship or somehow qualify to give them money.
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Old 23 June 2022, 08:13 PM   #37
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...or somehow qualify to give them money.
I agree 100% It's utterly bonkers (actually, appalling) that one should feel this way.

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Old 23 June 2022, 08:22 PM   #38
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Donít need to be a whale, but we do have choice.

For many people stuff like this makes the brand less attractive.
Personally there are a perhaps couple of Rolex watches I like enough to walk into a store and buy at the inflated list price.

But none that I like enough to feel I have to build a relationship or somehow qualify to give them money.
More power to you, and I agree with you. But that's the nature of luxury retail.

Unfortunately for a lot of people, the smoke and mirrors and exclusivity (perceived and real) is an attraction.

A lot more people than the population of this forum would have to change their point of view for it to be a blip on the radar of the luxury goods industry.
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Old 23 June 2022, 08:25 PM   #39
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Ö.
Of course if you are a whale, the world wont change for you - c'est la vie
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Old 23 June 2022, 08:25 PM   #40
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So Rolex is now enabling jewelers to force "new" customers in buying stuff they don't want or need in order to have a prior purchase history and then have the privilege of being on a list for the possibility of a Rolex.(?)

This is so insane.
No, I think they mean ADs need to sell to people who have previously bought Rolexes and are on the waiting list. But a maximum of two a year. Rolex don't care about customers buying other companies' products. I would see this as a temporary measure to try and get the watches into the hands of regular non-flipper customers.

The effect is to limit flippers to two a year. Flippers can't get someone else to join the waiting list for them. Would-be flippers already on the waiting list, who have not bought a Rolex before, would be excluded from buying. Only people on the waiting list, who have bought Rolex before, can purchase a maximum of two a year. Makes life more difficult for flippers. Means long standing non-flipper customers who maybe buy every few years have a better chance.
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Old 23 June 2022, 08:26 PM   #41
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So Rolex is now enabling jewelers to force "new" customers in buying stuff they don't want or need in order to have a prior purchase history and then have the privilege of being on a list for the possibility of a Rolex.(?)

What if your particular AD only sells Rolex. Which Rolex would you then have to buy, could you even buy, to establish a purchase history with that Rolex only AD?

I just don't understand why Rolex thinks this will work?

Are they saying that a whole generation of Rolex buyers have to essentially grow old and die or go broke before they will open the AD to truly new customers?

I don't know what's worse. ALS outwardly saying that models like the Odysseus is off limits unless you buy a Saxonia or other entry level watch(es), or a tacit, super secret, double secret probation rule that seems to funnel watches to a privilege few, unless you buy an unclear number of watches or jewelry of a certain kind to even get on a list to possibly buy a watch....perhaps down the road when your "purchase history" is deemed sufficient.

This is so insane.
Nobody need be forced to buy anything. Plenty of people want to buy other stuff.

So long as demand exceeds supply there will be a hierarchy of clients, and there will be qualifying criteria.

There's always the option of not buying a watch, you don't need one
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Old 23 June 2022, 08:48 PM   #42
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OP is partially correct. I was told you do not need to have any purchasing history when I registered my interest. Whether or not I get the watch I want is another story!
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Old 23 June 2022, 08:59 PM   #43
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OP is partially correct. I was told you do not need to have any purchasing history when I registered my interest. Whether or not I get the watch I want is another story!

Apologies, was meant to say that sports models will only be available to existing clients. No prior purchase history is required for non-sports.

As for the people saying this is nonsenseÖthis is what my AD told me. Why is it nonsense? Two separate sales assistants said the same thing. I have decent spend at my AD (Tudor, Cartier, TT DJ41 and 18k sub) all in the last 12 months so would like to think they arenít fobbing me off.

Given that others are now saying they have been told similar things in my mind it seems to true.

Not sure if UK wide or just WoS.


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Old 23 June 2022, 09:15 PM   #44
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This entire thread has done nothing but fan the flames of desire and will only make the situation worse.

Which is of course exactly what retailers want.
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Old 23 June 2022, 09:32 PM   #45
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Interesting policy and another step by AD's to address the noise from customers about availability and fairness. No matter what the policy, there will always be exceptions and for big spenders that are also long time customers. I do not think this will have much, if any, impact. Once again, it is really about the money, not the watches. If you wanted any modern Rolex watch you can buy it from multiple legitimate outlets for current market value. But we want them from the AD because most cost less and should we decide to sell or trade we will make money or have positive equity. No problem there, just see it for what it is. This does not end until watches purchased at an AD are worth 20-30% less than MSRP in the secondary market. It will take all of those focused on value/money out of the game and leave the watches for those who are focused on the watches. Just my thoughts and I will move on to the next money thread.
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Old 23 June 2022, 09:54 PM   #46
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I'd be more than happy to have some clear "rules" at my ADs.

Right now the defacto rule seems to be "Spend money here and maybe.... maybe.... you'll get what you want... someday!!"

(Oh it's not stated like that. Rather it is "Your watch should be here in 6 months" Total BS)
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Old 23 June 2022, 09:58 PM   #47
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Whatever, can't be bothered anymore. Don't think it will have any impact. I have registered several models since 2020 and nothing comes up. Haha
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Old 23 June 2022, 10:01 PM   #48
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These nonsense annual limits are for babies! I was at my limit, my SA got an approval to sell the watch to my wife!
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Old 23 June 2022, 10:34 PM   #49
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So I guess Rolex’s strategy is to keep shrinking their own customer base? They must feel they haven’t already lost enough customers to Apple / Smartwatches.
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Old 23 June 2022, 11:09 PM   #50
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How many rumours have Thorpe gotten right so far? Not many...
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Old 23 June 2022, 11:11 PM   #51
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So I guess Rolexís strategy is to keep shrinking their own customer base?
Nothing is shrinking.

Rolex sells every watch they make. They are happy.
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Old 23 June 2022, 11:12 PM   #52
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How many rumours have Thorpe gotten right so far? Not many...
Being right has never been the point. Getting paid for clicks and getting free advertising here is.
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Old 23 June 2022, 11:21 PM   #53
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"much money" is subjective.

$500 profit is a lot of money to a lot of people, and it's a bottle of wine at lunch for plenty others.
Sorry, nobody is spending 10k + to possibly make $500. Even $1000.
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Old 23 June 2022, 11:26 PM   #54
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This is really this ADs approach to reduce flipping. Know your customers and limit what you sell to them. Posters here have complained the same people get all the watches and then flip them. Well, this AD wants to tackle that problem head on.
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Old 23 June 2022, 11:33 PM   #55
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No, I think they mean ADs need to sell to people who have previously bought Rolexes and are on the waiting list. But a maximum of two a year. Rolex don't care about customers buying other companies' products. I would see this as a temporary measure to try and get the watches into the hands of regular non-flipper customers.

The effect is to limit flippers to two a year. Flippers can't get someone else to join the waiting list for them. Would-be flippers already on the waiting list, who have not bought a Rolex before, would be excluded from buying. Only people on the waiting list, who have bought Rolex before, can purchase a maximum of two a year. Makes life more difficult for flippers. Means long standing non-flipper customers who maybe buy every few years have a better chance.
I agree.
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Old 23 June 2022, 11:33 PM   #56
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For stories like this I am hoping their industry takes a hit with the recession. I donít wish for a recession on anyone but for these ADs, car dealers etc that have completely lost touch with reality and customer service I hope for the day they are choking on inventory and begging people to come in and shop.

It is very sad how the f you business model has changed over the last 5+ years with these arrogant stores.

I have money to spend but I really donít need ANYTHING enough to deal with this type of BS. If you want my $20k plus for luxury items then treat me with respect or I will take my business elsewhere. If every place (and they are) continue to treat people like this then so be it. I can find another luxury to spend my disposable income on. It is a watch for gosh sakes.
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Old 23 June 2022, 11:42 PM   #57
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Being right has never been the point. Getting paid for clicks and getting free advertising here is.
Yep, agree 100%

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I have money to spend but I really don’t need ANYTHING enough to deal with this type of BS. If you want my $20k plus for luxury items then treat me with respect or I will take my business elsewhere. If every place (and they are) continue to treat people like this then so be it. I can find another luxury to spend my disposable income on. It is a watch for gosh sakes.
Hear hear! It's utterly idiotic and, a real turn down. Not spending one cent anywhere when they treat people this way.

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Old 23 June 2022, 11:44 PM   #58
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Itís nonsense - if you are a big client theyíll give two to you, 2 to your wife and 2 to each of your kids and parents
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Old 23 June 2022, 11:50 PM   #59
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Sorry, nobody is spending 10k + to possibly make $500. Even $1000.
I know for a fact that people are doing that. $500 easy money, is $500 easy money.*

If that notion is absurd to you, you are very fortunate

*not saying they set out to make that little, but profit is profit to many people.
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Old 24 June 2022, 12:02 AM   #60
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My AD has a simple rule! Anyone who buys significant amount of jewelries is exempt from limits! If head office imposes a new rule, then a family member/friend can purchase that watch for me!
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