Register your interest / waiting list

[Muhle]

What’s everyone’s thoughts on the ‘waiting list / register your interest?’

I’ve just phoned a few AD’s as I’m after the new GMT Master II ‘Pepsi’, I’ve been told the current wait at various places is between 3-5years and some 5-10years!! Am I the only person that thinks in 5-10 years this watch won’t even be current ?!

I think Rolex should have a different purchasing processes where the papers and guarantee card are kept by Rolex and it’s registered to the owner. This would stop people simply buying a watch to throw on eBay to try and make a profit. I would be interested to know the percentage of Rolex’s owned and worn to the percentage of rolex’s Never worn and up for sale.

I also think the ‘change of ownership’ process should be done in a database at Rolex with a genuine reason for sale before the ownership change can take place.

Just my thoughts...

[zeeww]

Originally Posted by Jamescfyfe

What’s everyone’s thoughts on the ‘waiting list / register your interest?’

I’ve just phoned a few AD’s as I’m after the new GMT Master II ‘Pepsi’, I’ve been told the current wait at various places is between 3-5years and some 5-10years!! Am I the only person that thinks in 5-10 years this watch won’t even be current ?!

I think Rolex should have a different purchasing processes where the papers and guarantee card are kept by Rolex and it’s registered to the owner. This would stop people simply buying a watch to throw on eBay to try and make a profit. I would be interested to know the percentage of Rolex’s owned and worn to the percentage of rolex’s Never worn and up for sale.

I also think the ‘change of ownership’ process should be done in a database at Rolex with a genuine reason for sale before the ownership change can take place.

Just my thoughts...

Understand your frustrations, which is shared by many on here. I’m not sure about the ‘change of ownership’ logic you quoted here, because you wouldn’t do it for a car, house or even share certificates.....so why Rolex?

For your data point, I’ve always bought brand new from AD (even when grey were cheaper back then), never sold any of mine (small collection), and have no intention to. They are going to my kids.

[Muhle]

My only point about the change of ownership is due to the huge supply and demand price increase now, cars unless classic don’t really appreciate in that way, and if they do it takes years. With watches it seems I could buy one from an AD on Bond Street, walk 3 seconds to ‘watch club’ and double my money. I think with a ‘reason for Sale’ it would minimise the number of people buying them purely to make an instant profit which stops people that actually want to wear them being able to buy them. For me, hearing there’s a 3-5 year wait just makes me think, I’ll buy something else...

[kieselguhr]

Originally Posted by Jamescfyfe

I also think the ‘change of ownership’ process should be done in a database at Rolex with a genuine reason for sale before the ownership change can take place.

Wait, you want to give a corporate entity the authority to regulate your right to buy/sell/trade your property? I simply cannot agree with this.

Also, a phone call to an AD gets drowned out by the multitude of other phone calls. Walk in in person.




AOW

[beshannon]

Originally Posted by Jamescfyfe

I also think the ‘change of ownership’ process should be done in a database at Rolex with a genuine reason for sale before the ownership change can take place.

Just my thoughts...

Why?

Rolex has already sold the watch and made their money. Why would they care what happens between two third parties?

[CharlesN]

Most AD's get literally dozens of enquiries for that very watch every day.

I spent a few hours in my AD's shop a few weeks ago whilst my DD was being checked for waterproofing etc. (It passed with flying colours).
i am on VERY good terms with my AD. We were sitting and chatting about watches and other topics.
There was a steady flow of people coming in asking for the "Impossible" watches.

[fsprow]

I don’t know why Rolex would want to get involved.

[Twovalvekid]

Originally Posted by CharlesN

Most AD's get literally dozens of enquiries for that very watch every day.

I spent a few hours in my AD's shop a few weeks ago whilst my DD was being checked for waterproofing etc. (It passed with flying colours).
i am on VERY good terms with my AD. We were sitting and chatting about watches and other topics.
There was a steady flow of people coming in asking for the "Impossible" watches.

Haven't gotten my explorer yet, so i cant really say this for certain, but i am a firm believer in going in, shaking hands, talking, being nice, and showing genuine interest. This will go so far. Ive heard so many stories of people being told in person xxx time period, then magically getting a calla few weeks later since they still "showed interest" even after being told you'll have to wait.

[daOnlyBG]

Interesting post. Here are some points:

Originally Posted by Jamescfyfe

What’s everyone’s thoughts on the ‘waiting list / register your interest?’

Not to sound like a stick in the mud (I do empathize with your feelings) but there are millions of threads on that very topic. Some think it's b.s., and the others view that it's simply part of the price/experience to own a Rolex.

Originally Posted by Jamescfyfe

I’ve just phoned a few AD’s as I’m after the new GMT Master II ‘Pepsi’, I’ve been told the current wait at various places is between 3-5years and some 5-10years!! Am I the only person that thinks in 5-10 years this watch won’t even be current ?!

I think you're asking the wrong question; in 5-10 years, I suspect it's the dealerships that won't be "current." They barely have anything to sell, and enough of them are restricting their client base to just a few individuals.

Originally Posted by Jamescfyfe

I think Rolex should have a different purchasing processes where the papers and guarantee card are kept by Rolex and it’s registered to the owner. This would stop people simply buying a watch to throw on eBay to try and make a profit. I would be interested to know the percentage of Rolex’s owned and worn to the percentage of rolex’s Never worn and up for sale.

If that happens, I'm quitting my day job and becoming a watchmaker. The business for independent watchmakers would go through the roof.

Originally Posted by Jamescfyfe

I also think the ‘change of ownership’ process should be done in a database at Rolex with a genuine reason for sale before the ownership change can take place.

That's highly impractical and likely to never get used; no one wants to have a restrictive company (which, btw, doesn't exactly have the resources to make that happen easily) regulate their sales.

HOWEVER, there is a start-up that's using blockchain technology to track the pedigree of high end watches. It's a novel and appropriate use of the blockchain model, but I have no idea how they're going to make it... you know... popular.

[Muhle]

Originally Posted by beshannon

Why?

Rolex has already sold the watch and made their money. Why would they care what happens between two third parties?

Because Rolex is becoming a brand that’s sat in a shop window or eBay, not being used. It doesn’t make them desirable having so many sat in a window for a price that is rarely paid. It doesn’t make them rare it makes them common. I personally wouldn’t pay £16k for a new ‘pepsi’ when the retail is £7k, I’ll buy a watch that retails at £16k.

Just my thoughts! Don’t shoot me!

[Bryan81]

Definitely a frustrating situation that people who genuinely want the watches have a hard time getting them at an AD. It's a self-perpetuating cycle that the more a watch is viewed as "hard to get", the more expensive it is from a gray dealer or second hand, which then pushes the price higher. People are now just buying the watches because they are "rare" or for investment purposes.

The solution, though, I don't think is to start having to justify to Rolex each time I want to sell one of my watches. Once I buy it, I'll do as I want.

[beshannon]

Originally Posted by Jamescfyfe

It doesn’t make them desirable having so many sat in a window for a price that is rarely paid. It doesn’t make them rare it makes them common. I personally wouldn’t pay £16k for a new ‘pepsi’ when the retail is £7k, I’ll buy a watch that retails at £16k.

Just my thoughts! Don’t shoot me!

People are paying the price, they are common and never have been rare. What you would not pay is what someone else would.

Again, Rolex has made their money, why would they care what happens between two third parties?

[Muhle]

Originally Posted by beshannon

People are paying the price, they are common and never have been rare. What you would not pay is what someone else would.

Again, Rolex has made their money, why would they care what happens between two third parties?

What I’m trying to say is, Rolex limit the numbers of sports models produced or sold to make them more desirable and yes this seems the case, but instead of them being sold and people wearing them there’s hundreds in shops just waiting it be purchased for way over the odds, which in my opinion has the adverse affect on making them desirable. I can buy one online today, but I don’t want to pay double the retail, so in that case, I would buy something else. (Loosing a returning customer)

[VacherObsessive]

If you haven’t paid a deposit or if you haven’t paid in full, then you’re not on the list - as there is no list.

The so called list is what they tell you to be polite and hope you’ll leave the store quietly

These days you have to spend $100k on diamond solid gold ladies date-justs, and they may get you a sub out of the safe.

[VacherObsessive]

Originally Posted by Jamescfyfe

What I’m trying to say is, Rolex limit the numbers of sports models produced or sold to make them more desirable and yes this seems the case,)

Where is your proof of this?

So you’re saying demand hasn’t simply gone up across the world due to emerging markets thus the amount of spots models available in your usual ADs has been thinned out due to this demand?

[Brew]

I don't understand the relationship between Rolex's production numbers and flippers on eBay. Stopping folks from re-selling their watches isn't going to make more watches.

[Bostonbert]

Originally Posted by Jamescfyfe

What’s everyone’s thoughts on the ‘waiting list / register your interest?’

I’ve just phoned a few AD’s as I’m after the new GMT Master II ‘Pepsi’, I’ve been told the current wait at various places is between 3-5years and some 5-10years!! Am I the only person that thinks in 5-10 years this watch won’t even be current ?!

I think Rolex should have a different purchasing processes where the papers and guarantee card are kept by Rolex and it’s registered to the owner. This would stop people simply buying a watch to throw on eBay to try and make a profit. I would be interested to know the percentage of Rolex’s owned and worn to the percentage of rolex’s Never worn and up for sale.

I also think the ‘change of ownership’ process should be done in a database at Rolex with a genuine reason for sale before the ownership change can take place.

Just my thoughts...

Wait lists are a means of pacifying consumers. If a speculator or a flipper shows up at an AD he jumps the line and gets the watch. This is a problem that Rolex needs to address using a consignment sales method (like the one you describe). For the brand, consumers are the better clients because they hold the watch for years and want to buy at the AD (thus reducing the penetration by counterfeiters). For greedy ADs with sales quotas, the speculators and flippers are preferred because the clean them out of stock with minimal effort. There is an obvious misalignment between the brand and their AD network and the manufacturer will be the one that pays the price when speculators are the only customers left.

[Calatrava r]

Originally Posted by Brew

I don't understand the relationship between Rolex's production numbers and flippers on eBay. Stopping folks from re-selling their watches isn't going to make more watches.

As I have said, whether its good or bad, folks flipping their watches create another avenue for people to buy these watches where they cannot get one from an AD.

If no one flipped, nobody could buy a hot SS sports Rolex except VIP clients at ADs. Flipping enlarges the market of watches for sale. When Rolex watches are no longer the hot item, people will still flip, why because that is what people do, change their minds and move on. Only then, they will sell at a loss and people will be able to buy from grays at a nice discount.

[brucethemanlee]

just responding to this "What’s everyone’s thoughts on the ‘waiting list / register your interest?’ "

Basically, unless you're a VIP (ie maybe $100k per year spender) you're not realistically on any list to get a sought after Rolex (Daytona or BLRO or SKyD blue etc).

You might get lucky and get sooner, but that's luck of the draw. You're more likely to never get a call. 10 year wait list means NEVER

[drtii]

Originally Posted by Jamescfyfe

What’s everyone’s thoughts on the ‘waiting list / register your interest?’

I’ve just phoned a few AD’s as I’m after the new GMT Master II ‘Pepsi’, I’ve been told the current wait at various places is between 3-5years and some 5-10years!! Am I the only person that thinks in 5-10 years this watch won’t even be current ?!

I think Rolex should have a different purchasing processes where the papers and guarantee card are kept by Rolex and it’s registered to the owner. This would stop people simply buying a watch to throw on eBay to try and make a profit. I would be interested to know the percentage of Rolex’s owned and worn to the percentage of rolex’s Never worn and up for sale.

I also think the ‘change of ownership’ process should be done in a database at Rolex with a genuine reason for sale before the ownership change can take place.

Just my thoughts...

1.) I have no problem with flippers. I would do the same if I came across a hot piece.

2.) If Rolex were to do anything, which they won't, it would be similar to Ferrari where there would be a first right of refusal. You'd basically be selling the watch back to Rolex. Of course, Rolex produces 1m watches per year so I doubt they'd be interested in buying anything at retail especially since they aren't in the used watch market.

3.) I don't like the idea of selling a pre-owned Rolex through an AD. That's just a ridiculous hurdle. These watches are commodities, not financial instruments. If you have one you should be able to sell it, like any other watch.

Also, you might want to look at these current market conditions like a good thing. The value of your watch will remain steady as long as pieces are relatively hard to get.

You may want to start developing a relationship with an AD as well. You won't wait 3 years for that Pepsi. Maybe a Daytona, but even then. Just build that relationship and they'll call you before many others when they get a piece you want.

[Bostonbert]

Originally Posted by Jamescfyfe

What’s everyone’s thoughts on the ‘waiting list / register your interest?’

I’ve just phoned a few AD’s as I’m after the new GMT Master II ‘Pepsi’, I’ve been told the current wait at various places is between 3-5years and some 5-10years!! Am I the only person that thinks in 5-10 years this watch won’t even be current ?!

I think Rolex should have a different purchasing processes where the papers and guarantee card are kept by Rolex and it’s registered to the owner. This would stop people simply buying a watch to throw on eBay to try and make a profit. I would be interested to know the percentage of Rolex’s owned and worn to the percentage of rolex’s Never worn and up for sale.

I also think the ‘change of ownership’ process should be done in a database at Rolex with a genuine reason for sale before the ownership change can take place.

Just my thoughts...

My recommendation if you are looking for a watch is find an Omega AD and get a discount on a planet ocean GMT (I got a 6 month-old one at 34% off list from an AD). Alternatively, you could get a Tudor GMT at list if you wait and can stomach the faux rivets on the bracelet (fewer speculators in Tudor).

[RJRJRJ]

When they say 5-10 years, they're telling you to go away and not bother with it because they aren't going to sell you one.

[Bostonbert]

Originally Posted by Brew

I don't understand the relationship between Rolex's production numbers and flippers on eBay. Stopping folks from re-selling their watches isn't going to make more watches.

No, but there might be less safety deposit box stuffing by speculators. There might be less motivation for fraudsters to get into the market to swindle consumers through sales at unauthorized dealers or eBay. The whole rationale for the existence of an authorized dealer network is to assure consumers they are buying a genuine Rolex....Rolex’s own words.

[Muhle]

Originally Posted by RJRJRJ

When they say 5-10 years, they're telling you to go away and not bother with it because they aren't going to sell you one.

That’s fine, that’s just a few places I phoned... I’m going to see my usual AD Saturday

[Bryan81]

Originally Posted by RJRJRJ

When they say 5-10 years, they're telling you to go away and not bother with it because they aren't going to sell you one.

Yes, exactly!

[Twovalvekid]

Originally Posted by Jamescfyfe

That’s fine, that’s just a few places I phoned... I’m going to see my usual AD Saturday

You have to go in...period.

[watchbowl]

Originally Posted by Jamescfyfe

That’s fine, that’s just a few places I phoned... I’m going to see my usual AD Saturday

Best way to get one is from your normal AD. No random person ringing up is going to get a Pepsi


Sent from my iPhone using Tapatalk

[Bostonbert]

Originally Posted by Bryan81

Definitely a frustrating situation that people who genuinely want the watches have a hard time getting them at an AD. It's a self-perpetuating cycle that the more a watch is viewed as "hard to get", the more expensive it is from a gray dealer or second hand, which then pushes the price higher. People are now just buying the watches because they are "rare" or for investment purposes.

The solution, though, I don't think is to start having to justify to Rolex each time I want to sell one of my watches. Once I buy it, I'll do as I want.

You should be allowed to sell, however if you do sell there should be consequences..... you should be refused any future purchase of steel professional models by Rolex. This would not be a first in history. Ferrari and Patek Philippe use a consignment sale process for big ticket items. The fact the Rolex needs to go there to stop speculators in steel watched shows their speculator problem is lower down the food chain (greed knows no socioeconomic boundary, so I guess that’s no surprise).

[Twovalvekid]

Originally Posted by watchbowl

Best way to get one is from your normal AD. No random person ringing up is going to get a Pepsi


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This. If i get my Exp I in a reasonable time, i will find an opportune time to mention a batman and just let it fly. Then pop in every few weeks to say hi, look through the store, and shoot the chit.

[Nairn1980]

If you’re not a VIP you’ll pretty much not get a Pepsi