UK AD new policy

[supersam80]

Originally Posted by tyler1980

nope its just the test market. Scarcity started here, the sticker policy started here, the secondary price benchmark is here, retaining the warranty card started here. Everything so far has moved across the atlantic.

We have been warning for a long time and everyone always says "nope, won't happen here" and then it does.

Whats a BLNR worth on the secondary market in the UK? Its worth about $17.5k AUD (9700 pounds) here

Regular stainless models are unobtainable here too, I was quoted 3 years for a LN GMT

[tyler1980]

Originally Posted by supersam80

Whats a BLNR worth on the secondary market in the UK? Its worth about $17.5k AUD (9700 pounds) here

Regular stainless models are unobtainable here too, I was quoted 3 years for a LN GMT

BLNR has come down a bit, but that is in the ballpark. You are currently a bit higher.

[supersam80]

Originally Posted by tyler1980

BLNR has come down a bit, but that is in the ballpark. You are currently a bit higher.

Australia tax. Cars are much worse, a basic manual 911 has a list price of about 133k gbp

[tyler1980]

Originally Posted by supersam80

Australia tax. Cars are much worse, a basic manual 911 has a list price of about 133k gbp

it may be worse there at this point as far as availability. I dont know, but based on geography it wouldn't surprise me.

[stefs]

Originally Posted by AK797

You got lucky, if I was Rolex and investigating why this watch ended up at the grey market then this AD would be in trouble as your past history is not good enough to pass the smell test. You are still a high candidate to be a flipper on the evidence, so this AD is playing a dicey and reckless game.

Why is the dealer being reckless selling me a watch? Why have I not passed the smell test? I live locally and bought 3 watches in the last 12 months from him with none of them being money making flip models... A speedie, an op31 for the wife and an op36 for me. Not exactly daytons, hulk etc.
I would have thought I was exactly the profile they should be comfortable selling to?

[tyler1980]

Originally Posted by stefs

Why is the dealer being reckless selling me a watch? Why have I not passed the smell test? I live locally and bought 3 watches in the last 12 months from him with none of them being money making flip models... A speedie, an op31 for the wife and an op36 for me. Not exactly daytons, hulk etc.
I would have thought I was exactly the profile they should be comfortable selling to?

because 3 generally watches in 12 months is flipper behavior. Short term relationship is flipper behavior. You now want hot watches... flipper behavior.

It doesnt make you a flipper, but the AD is taking a risk no question. More people than not are going to end up being flippers with a similar pattern. Its nothing personal, but most AD's are setting a really high bar for people they trust.

[supersam80]

Originally Posted by stefs

Why is the dealer being reckless selling me a watch? Why have I not passed the smell test? I live locally and bought 3 watches in the last 12 months from him with none of them being money making flip models... A speedie, an op31 for the wife and an op36 for me. Not exactly daytons, hulk etc.
I would have thought I was exactly the profile they should be comfortable selling to?

I've had a dealer tell me that if a customer buys a not hot model, then wants the hot model soon after that they feel its pretty obvious they are looking to recoup some of the costs on the not hot model. Doubly so if the not hot model was quite expensive (much more expensive than the ones you've bought)

[jfoord27]

Originally Posted by supersam80

I've had a dealer tell me that if a customer buys a not hot model, then wants the hot model soon after that they feel its pretty obvious they are looking to recoup some of the costs on the not hot model. Doubly so if the not hot model was quite expensive (much more expensive than the ones you've bought)

The reality is, unless they share a bank account with you, ADs haven't got the slightest clue what you do with your assets and your money. They work in retail, not the CIA.

[tyler1980]

Originally Posted by jfoord27

The reality is, unless they share a bank account with you, ADs haven't got the slightest clue what you do with your assets and your money. They work in retail, not the CIA.

which is why you are guilty until proven innocent. Its also why a lot of AD's are moving away from waitlists that everyone can get on. They now prefer to offer the watches to clients they know and trust, regardless if they have asked for the watch or not. They just call up and say "would you like a daytona".

Mine did just that. I said no. Then a few months later they asked, "want a 5711"? That time i said yes. Turning down watches also proves you are not a flipper.

[Galibier]

Originally Posted by tyler1980

Mine did just that. I said no. Then a few months later they asked, "want a 5711"? That time i said yes. Turning down watches also proves you are not a flipper.

I walked into my local AD asking after a 116610LN. Never bought from them before and it would be probably my first and only Rolex. They asked if I wanted a LV. I said no, I’ve wanted an LN since I was a kid. It felt like a test. Dangle an easily flippable Hulk and see if I bite. Maybe I’m cynical. I got my LN the following month.

[tyler1980]

Originally Posted by Galibier

I walked into my local AD asking after a 116610LN. Never bought from them before and it would be probably my first and only Rolex. They asked if I wanted a LV. I said no, I’ve wanted an LN since I was a kid. It felt like a test. Dangle an easily flippable Hulk and see if I bite. Maybe I’m cynical. I got my LN the following month.

i absolutely think they do this. It also helps for later if you ever do ask for something else. They now know you just won't buy whatever.

They may not have even had the Hulk anyway, and were testing your reaction to the prospect since it isnt the watch you were initially after and thus you passed the test and you get the LN.

[AK797]

Originally Posted by supersam80

I've had a dealer tell me that if a customer buys a not hot model, then wants the hot model soon after that they feel its pretty obvious they are looking to recoup some of the costs on the not hot model. Doubly so if the not hot model was quite expensive (much more expensive than the ones you've bought)

Yes, this is suspicious behaviour now, had you been buying hot models or TT/PMs before they got hot then you are more genuine, but buying the hot models for the first time now after a few lowly SS is a red flag. I've spoken to that Ipswich AD about a year ago on a LVc and they were very wary of outsiders then, so surprised they went so easy on you.

Don't forget ADs have a lot of time on their hands now so vetting and screening is just something to do to pass the time and keep their job alive, as we see from the more creative ways above.

[Devildog]

Originally Posted by Horationelson

Technically correct, but when you look at the time it has taken, say, Lehman, to return client assets nearly 10 years after its demise... it would probably take some time to get those cards back, particularly where the basis on which the AD holds them is not actually spelt out in the contract with the consumer.

There's a significant difference between the failure of global financial services firm for reasons that will be documented in the history books with client assets subject to significant regulatory control and a small independent jewelry shop going bust. And yes, going bust is a term we use, albeit not a "technical one"

Trust me on this - it would be a simple, painless and easy procedure to get the cards back to the right people. No harder than "pass me the Rolex sales records, will you, I've got a handful of letters to post"

And as I've said, if for some reason the cards or records had been lost , if an authorised agent or Rolex SA fails, then Rolex SA would require to make good.

[Devildog]

Originally Posted by AK797

I was their biggest critic last year, until we realised it was a global sitch and out of their hands, but I still expected a Porsche or two from them to shut me up.

Originally Posted by AK797

.

Hope you got the colour you wanted Neil

[Devildog]

Originally Posted by tyler1980

which is why you are guilty until proven innocent. Its also why a lot of AD's are moving away from waitlists that everyone can get on. They now prefer to offer the watches to clients they know and trust, regardless if they have asked for the watch or not. They just call up and say "would you like a daytona".

Mine did just that. I said no. Then a few months later they asked, "want a 5711"? That time i said yes. Turning down watches also proves you are not a flipper.

My AD no longer operates waitlists. They operate on expression of interest and they sell to whom they feel is genuine, based on trust and relationship.

They sell just as many watches and they don't risk incurring the wrath of Rolex UK for selling to flippers, inadvertently or otherwise

[AK797]

Originally Posted by Devildog

Hope you got the colour you wanted Neil

You, me and Tyler should have got one each.

[Seibei]

No wait lists in my neck of the woods. You just have to convince them that you are the real deal.

[Boaters]

Originally Posted by WatchWeb

And if they refuse to give you it ?.

I will walk.

[Boaters]

Originally Posted by kultschar

In that case you might have to track down the watch in a diff UK AD!!

That would be just fine.

[Rolex fan 61]

If I am purchasing a new watch from an AD then I want it fully intact, that is complete with a full set of stickers and the warranty card etc, if not then I would purchase from another dealer.

[Nairn1980]

Originally Posted by Rolex fan 61

If I am purchasing a new watch from an AD then I want it fully intact, that is complete with a full set of stickers and the warranty card etc, if not then I would purchase from another dealer.

Your options will be running out in the UK if it’s steel sports models you are after.

[jonnyz1245]

Originally Posted by tyler1980

exactly the point i have been making

People always talk about the merits of the free market and supply and demand, and are only benefiting because the AD is not able to participate in this free market the buyers are trying to exploit. Its either free or its not, and its not.

Its hypocritical to decry the AD limiting the "free market" by trying to prevent someone from profiting by flipping the watch when they are only able to flip for a profit in the first place because it was acquired via an unfree market at an arbitrary price. 20K daytonas is the free market price, so let the AD's sell their watches which they own for that price.

It is a free market. Rolex can raise prices if they want and they can increase production if they want as they are now doing. From 2006 to 2012 Rolex raised their prices 5 or 6 times. I forget the exact number but it was a lot. Daytonas actually were selling for below MSRP on grey for a while in the states and a few AD's actually had them in their windows. I'm not here to debate the grey market, you guys can have fun with that as you have been for months. Rolex is aware of the grey market and they need it just like any other business. The balance will shift back just like it always does.

This is a supply thing, nothing more. Rolex and a lot of others got caught by surprise with the huge spike in demand in 2017. They have been playing catch up ever since.

The whole holding back supply theory is non sense.Rolex is not and never will be Patek or AP. Apples and Oranges. Rolex sets their targets like any other forward thinking business a couple years in advance. They are not beholden to shareholders and know what their growth targets are while also being mindful to not get whooped when the next global economic downturn happens.

Its a product like any other product. What anyone does with it once they purchase it is their business, not the ADs, or Rolex, or your brother etc. If I want to throw my watch in the river, thats my right.

[strafer_kid]

I was fortunate that this did not happen with my SD43 but that said, a delay in getting the warranty card would not have put me off. If this goes some way to reducing or removing some if the madness that surrounds these watches changing hands way over list price, then it will be worth it. As for the stickers.......

[Mwhite110]

Isn’t keeping a warranty card in breach of the trade description act?

You are paying for an item with a 5 year warranty. But not actually in possession of the warranty card which you are paying for? So not actually getting what’s been stated by Rolex

[Calatrava r]

If your keeping the watch why care. If the watch fails during the year just take it back to the AD and they can send to Rolex. I see this as a non-issue for true end users.

[Mousehunter]

I was a bit suppressed when I went to my AD’s opening day. I was just going on the lark that a new AD might have a Hulk. Perhaps I did not look like a flipper as I was uninterested in the GMT’s or SD’s in the case. They did not have a Hulk, but offered me a SD43 from the vault and/or a place on a list for the Hulk. They also had a personal Hulk so I could compare the SD43 to. Went home with the SD43 and had the Hulk a month later. Now on a Jubalee list.

Part of the issue is they are new I suspect, they had a limited list of special customers. That said, there was a bit of a Jubalee list before Basil.

[Nairn1980]

Originally Posted by Mwhite110

Isn’t keeping a warranty card in breach of the trade description act?

You are paying for an item with a 5 year warranty. But not actually in possession of the warranty card which you are paying for? So not actually getting what’s been stated by Rolex

No.....
Where does the Watch description say a card is included? There is no impact to the warranty by them retaining the card.

If the policy is made clear prior to purchase, you accept or decline.

If you don’t like their terms, someone else will be happy to take the Watch in your place.

[Devildog]

Originally Posted by Boaters

That would be just fine.

And you’ll probably be waiting longer for another one to be available elsewhere than you would be for your warranty card.

[Naples09]

Wish the OP would come back and update all of us!

[Devildog]

Originally Posted by Naples09

Wish the OP would come back and update all of us!

He's probably been arrested for trying to "steal" the warranty card