The AD called me trying to buy back my GMT

[Seibei]

Originally Posted by frankfrazetta

Clearly I am being hunted by Rolex. I just traded my exp i for a new exp ii with a well known grey dealer. Having had two transactions with DSW I would never walk into an AD unless this current climate subsided.

I doubt if Rolex cares one way or another about an exp. Please do not blame ADs for this situation. The problem is with flippers and gray dealers. If you want this to stop, then don't participate in the speculation. Avoid flipping and avoid gray dealers.

[arguetaoscar]

Is your property, so you can do as you wish, sell, trade, gift etc... However, when trading or selling a watch I wouldn’t provide the receipt along with box and papers, as it has your personal information, even the serial numbers are not visible on the for sale forums so if they are calling it’s obvious that a picture of the receipt with AD and buyers information was posted.


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[Net-man]

I feel sorry for ADs who are trying to the right thing. My local AD pretty much spill the beans, in order for them to get Daytonas they have to buy a certain number of PM watches otherwise no dice.
The Daytona goes to someone and they are stuck with massive amounts of inventory.
On top of that Rolex bullies them when the find watches on secondary market, I am not sure who the winner is!



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[Devildog]

Originally Posted by 037

After 5 months, 5 days, 5 hours or 5 minutes of payment, it's your watch. Unless your AD specifically told you not to sell/trade it or you signed a contract saying the same, I don't see how this is an issue.

It's probably the LN subconsciously telling you to get it back.

Rolex UK’s issue is not with the OP. It’s with the AD who sold him the LN.

The AD is trying to appease Rolex UK.

The OP is free to do as he sees fit and neither the AD nor Rolex is saying otherwise

[Robbyman]

My AD is between a rock and a hard place. There is no doubt Rolex check the grey market and even buy pieces from it, then feeding this back to the original AD.

This means the AD has to be careful who they sell the in demand pieces to so they won’t be at a grey market dealer within a couple of days.

I think despite not being a big spender it is why I have two nice watches i enjoy and treasure. (Just taken my DaytonaC off and put my Pepsi on)

After just two days of owning my DaytonaC I was offered £15k for it by a man in a restaurant who spotted it on my wrist. He would have done a bank transfer then and there. I said no for two reasons, I wanted the watch and also I could not do it to my AD. If it came back to them I had sold it I would be mortified as would they.

[aleeboy]

I find this case, and the others posted in this thread, amusing. Firstly, the fact that Rolex is trying to regulate what is pretty much a free market. Enforcement approach now is weak and everyone is getting overly excited. The real deal would be an official announcement saying that any watches acquired via reselling against the rules (if this is even clear) will not be covered nor serviceable by RSC. Naturally this would create a huge demand in independent Watch service shops. However, parts control enforcement would need to be put in a place, or alternatively, black market of genuine parts and/or replica components. It could go any way, but the consumer will ultimately pay a Premium or feel uncertain they have a frankenwatch. The only way is to reduce demand on the consumer side and just live without a Rolex. Show them who is boss in a free market. Unfortunately, this will not happen as there is a large predatory Grey market that is more liquid.

[bondtoys]

Sorry to disagree with the majority of posters.

I am asking myself, why the AD would do something like that.

1. He really received the call by Rolex and the AD feels that his contract is in danger.
2. The AD has discovered the FS ad himself and wants to proactively take action because his AD contract may be in danger when Rolex finds out. He probably had a similar case in the last weeks and has already received a warning by Rolex to keep his market clean

While I agree the "It's my property and Rolex does not have a business in this" comments, in the larger pic, ADs are under such pressure by so many sides, that I feel sorry for them.

And I as a customer would support them (as they have supported you by getting a relatively scarce item).

As for being blacklisted by the AD or Rolex:
No matter of the reasons that the OP had, he acted like a flipper and in these days, Ads and Rolex don't want this kind of behaviour (no matter that it's legally absolutely ok) because this kind of actions are feeding the grey market and are feeding the hype with supply.

Again, Rolex does not have a legal stand here, but in times, when masses of ADs are losing their contracts, the Ads are all playing David against Goliath with Rolex

[Mephist]

Rolex should just one year, produce nothing other then the Rolex's that get the highest price in the gray market, and just flood the market with these watches, while also reducing the MRSP 10%. That would lower the price of the gray dealer's to probably 20-30% under MRSP and totally crush them. I know Rolex will not do this, but it would have been entertaining to see them do it.

The problem now is that the gray dealers sweep every AD for all these watches and they get lots of them too, to the point where people who actually want to use them will have to wait up to 1-2 years on a list. Just because the gray dealers also buy lots of other watches the AD wants to dump anyway. And it seems they have agreements with the AD where they do not disclose what AD they where purchased from and leave the guarantee card blank.

[roosvelt]

Can't beleive for one minute Rolex has some one monitoring for sale sights. Someone dropped a dime to tip off rolex what happen !

[Chromosome]

Originally Posted by jrs146

It’s just sad all around...

Sad you can’t sell your own property without repercussions.

Sad AD’s are held accountable for their customers actions

Sad Rolex monitors secondary market sales

Sad people must resort to the secondary market to buy what they want

Sad it’s so profitable to sell on the secondary market

Sad we’re even having this conversation


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Amen! Rolex just need to send more watches to their ADs. This would kill the grey dealers!

[AK797]

Originally Posted by Mephist

Rolex should just one year, produce nothing other then the Rolex's that get the highest price in the gray market, and just flood the market with these watches, while also reducing the MRSP 10%. That would lower the price of the gray dealer's to probably 20-30% under MRSP and totally crush them. I know Rolex will not do this, but it would have been entertaining to see them do it.

The problem now is that the gray dealers sweep every AD for all these watches and they get lots of them too, to the point where people who actually want to use them will have to wait up to 1-2 years on a list. Just because the gray dealers also buy lots of other watches the AD wants to dump anyway. And it seems they have agreements with the AD where they do not disclose what AD they where purchased from and leave the guarantee card blank.

They won't because the grey market is not their main issue and indeed was Rolex and AD's best friend for many years before the hype nonsense, no the problem now is flippers who just buy to sell, so Rolex's strategy is to try and starve them by making ADs screen buyers very carefully while Rolex release supply in very careful ways and to deserving ADs only.

In a capitalist market this approach will not really work, altho it has certainly had successes, and inevitably Rolex will have to use market forces to correct the market imbalance, but they are in no hurry as is their way, or they just now might wait for an economic change to do the work for them.

[jagwap]

If I buy a watch, it is mine to do with as I please. I am not renting it. If a brand wants to interfere with that, I will go to another brand. Rolex does not hold all the cards. Three of a kind at best.

Rolex, stop complaining about people tempted to sell their watches for a good price, which is hyped due to an artificial lack of supply you created.

[jonski]

U bought the watch, it's your property.

You are free to do whatever U like to it. Keep it and enjoy it.

Daytona fever never ends

[jaySL350]

Originally Posted by jrs146

It’s just sad all around...

Sad you can’t sell your own property without repercussions.

Sad AD’s are held accountable for their customers actions

Sad Rolex monitors secondary market sales

Sad people must resort to the secondary market to buy what they want

Sad it’s so profitable to sell on the secondary market

Sad we’re even having this conversation


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Yep! have to agree,,,,
A very sad state of affairs and now Dr Q has been blown out the water for guilt by association and probably will never be offered another piece from the Ad,,,,
just very,very sad,,,,,,,

[037]

Originally Posted by Devildog

Rolex UK’s issue is not with the OP. It’s with the AD who sold him the LN.

The AD is trying to appease Rolex UK.

The OP is free to do as he sees fit and neither the AD nor Rolex is saying otherwise

But again, without a contract, why would Rolex UK have a problem with this after five months? What is the statute of limitations on an end-user selling his own property? Does Rolex UK expect every one of their one million annual watches to be a "forever" purchase, never to be traded or resold, ever?

I understand Rolex wanting to curb flipping but five months isn't a flip, it's a change-of-heart. Had it been resold in five days in mint condition for obvious profit, it's a flip.

It still seems unreasonable for someone to buy a watch (or any material good) and be stuck with it forever. This is effectively the expectation if Rolex UK is indeed reprimanding the AD in question here. I just don't get it.

[Devildog]

Originally Posted by 037

But again, without a contract, why would Rolex UK have a problem with this after five months? What is the statute of limitations on an end-user selling his own property? Does Rolex UK expect every one of their one million annual watches to be a "forever" purchase, never to be traded or resold, ever?

I understand Rolex wanting to curb flipping but five months isn't a flip, it's a change-of-heart. Had it been resold in five days in mint condition for obvious profit, it's a flip.

It still seems unreasonable for someone to buy a watch (or any material good) and be stuck with it forever. This is effectively the expectation if Rolex UK is indeed reprimanding the AD in question here. I just don't get it.

Rolex does have a contract - with each and every one of its ADs

No one is saying Rolex is stopping the end -user selling hos own property. But if Rolex wants to pressure its ADs to prevent flipping for profit, then that is entirely Rolex's right.

I agree this is a strange one. 5 months is a long time and something doesn't quite add up here.

[SeaDweller1220]

Similar experience here.
I got the call on Friday that I have a White SS Daytona waiting for me if I wanted it. "If I wanted it???" LOL
Picked it up Sunday.
AD that I have been buying all my watches from told me:
Please don't sell it, Rolex is checking online sites and are buying them back checking the serial number and go back to AD and punish them for all hard to get SS watches.
Also, new to me they took all plastic off the watch before it left the store, and filled out Warrantee card. Guess to keep the BNIB in question if flipping?
I have only sold one watch and don't plan on flipping but kinda strange way of treating customers/AD's?
Oh well I think I have the perfect collection NOW so I wont be looking for a watch for a long while.

[jcdeng]

Hmm if Rolex really dislike flippers and try to punish the AD that sold the watch being flipped, I want to know which AD is forced to buy back that 17 mil paul newman!?

[jsausley]

Originally Posted by jcdeng

Hmm if Rolex really dislike flippers and try to punish the AD that sold the watch being flipped, I want to know which AD is forced to buy back that 17 mil paul newman!?

The rumor was that Rolex bought that watch themselves. They're not publicly traded, so they can do that and we will never know.

[JackWagon]

My AD told me that Rolex monitors online sales (especially eBay) to see if they can get enough info to see where the watch came from. Once they find this out they then contact the dealer to see why they didn’t check into the buyer first. My AD asks me how my watch is treating me about 2-3 months after each purchase and I send a photo for convenience. This is to protect him in the future if he ever accidentally sells to a Grey Market dealer and then he can show Rolex what they do to avoid it. Very very sad, but the AD are under just as much stress. This is why most dealers avoid selling to anyone that isn’t local to their area.

[BillA]

There is so much BS around here, that sometimes we start believing our own BS.
Rolex monitors websites? How do you know? Your AD told you? Rolex does not tell anything to their AD's or salespeople. They don't know what watches are going to be announced at the next Basil. Come on guys!

When I walk into an AD, I listen to 1/3, and believe 1/9.

[jfoord27]

Why don't Rolex look at where the greys actually source from? There are owners of grey market businesses who work at ADs... surely this is a big conflict of interest!

[lenfried29]

Originally Posted by BillA

There is so much BS around here, that sometimes we start believing our own BS.
Rolex monitors websites? How do you know? Your AD told you? Rolex does not tell anything to their AD's or salespeople. They don't know what watches are going to be announced at the next Basil. Come on guys!

When I walk into an AD, I listen to 1/3, and believe 1/9.

Exactly. People spreading rumors without even thinking

[Old Geezer]

I recently acquired my much anticipated Daytona C. My AD is in a relatively small market with pockets of affluent buyers. There is no doubt in my mind I got the Daytona C because over the last 18 months of visiting the AD and them getting to know me, I came to be trusted as an enthusiast that would not flip it. I wouldn’t compromise that trust to make a few bucks. If I fell out of love with my Daytona C, I would go back to them and work out a trade.

[Fort Rolex]

AD can buy it back but he also has to buy a Datejust or PM, stick it to em!

[RichM]

Originally Posted by TTAlex

Yep. But they told me I may not have the right warranty card with the watch, and they need to check it. I didn't know what they were actually going to do.

If you had the card and the watch, all YOU had to do was check the serial number of the watch against the serial number on the card. I’m I missing something here?

[Tsfc]

Lots of stories on this forum, hard to sympathize at all as far as AD's go.

Your watch your property end of story. If building a relationship means letting someone follow you home and say you May / you may not with your own belongings...no thanks. Trusted grey dealers then.

Particularly sickened by the deception to remove stickers that was mentioned here as well. Building a relationship works both ways, no?