Grey deal stocks

[vernplum]

https://www.facebook.com/profile.php?id=100001305801486

[Rilz]

I do not think this is real, how did the dealer even get so many, i'm guessing it's Photoshop.

[peterpl]

Originally Posted by Rilz

I do not think this is real, how did the dealer even get so many, i'm guessing it's Photoshop.

[Off Script]

Originally Posted by vernplum

https://www.facebook.com/profile.php?id=100001305801486

Thanks for finally posting the Grey. Three pages-for Pete's sake! Was it a secret or something

[peterpl]

Cally watch are a big gray dealer in HK. Many many more like them. I cant see the picture as I dont use facebook but I'm just going by the tags in the comments section

[vernplum]

Originally Posted by Off Script

Thanks for finally posting the Grey. Three pages-for Pete's sake! Was it a secret or something

I am sure the grey is happy to have more exposure, and folks on TRF want to know. The pictures are watermarked, so I just searched FB and bingo.

To echo others from numerous other threads, there is clearly no shortage of supply.

This makes me frustrated and a bit angry, but I have to remind myself there are bigger problems than me not being able to obtain a luxury watch I want. Oh well... :/

[Mystro]

Well let’s get beyond the obvious life lessons most have figured out like, “Life isn’t fair”, “there are no rules in life”, “those with the gold makes the rules”, “money makes things happen”, “life is a competition even if you choose not to compete”, etc... Dealers are in business to make money first. How they get paid boils down to risk and reward. Selling to the consumer can be more of a aggravation than to a grey dealer so it’s not surprising many have a arrangement with solid grey dealers. How the consumer chooses to get their watch will probably be how determined and aggressive they pursue it. Getting on a AD list only makes sense if you know the dealer is honoring the list and not slipping your watch to a bigger spender. Refer to the top list of rules.

[exador]

Originally Posted by peterpl

Cally watch are a big gray dealer in HK. Many many more like them. I cant see the picture as I dont use facebook but I'm just going by the tags in the comments section

And their website is crap unless you happen to like Yacht-Masters

https://cally-watch.com/portfolio/rolex/

[peterpl]

Originally Posted by exador

And their website is crap unless you happen to like Yacht-Masters

https://cally-watch.com/portfolio/rolex/

All gray dealers website sucks except for DavidSW. LOL

They always have huge amount of stock. If your in HK go see for yourself. They are nice guys.

[praveen]

Originally Posted by peterpl

All gray dealers website sucks except for DavidSW. LOL

LOL. True that

[No SUBctitute]

Originally Posted by Vanmarsenille

I am trying to think of another industry where similar practices occur, and I am struggling. Any ideas?

The Porsche GT3 and GT3 RS are allocation models (among others, I just am familiar with those two).

Some dealers sell them to established customers at MSRP. These customers have a purchase record and will likely buy more in the future.

Some dealers sell them at a markup to whomever will pay.

For those who buy at MSRP, the dealers are aware that some buyers sell for a profit. In fact, after a friend bought a GT3, the used car sales portion of that dealer offered to buy back at tens of thousands above MSRP immediately!

[Rolex Essex]

That photo of all the grey stock makes me angry.

[LndLord]

Originally Posted by No SUBctitute

The Porsche GT3 and GT3 RS are allocation models (among others, I just am familiar with those two).

Some dealers sell them to established customers at MSRP. These customers have a purchase record and will likely buy more in the future.

Some dealers sell them at a markup to whomever will pay.

For those who buy at MSRP, the dealers are aware that some buyers sell for a profit. In fact, after a friend bought a GT3, the used car sales portion of that dealer offered to buy back at tens of thousands above MSRP immediately!

yeah but the Porsche gt3 died quickly once the new one came out. But i remember when the 991 gt3 came out it was crazy

[bradyb]

How many ADs are actually grey sellers as well? There's one I've worked with that I highly suspect. Uh oh.

I think it's great - good for them, but won't last.

[G M Francis]

Unfortunately it is the way the market runs these days. The most successful way to retail is omni- channel. A B&M establishment with a great website and social media presence. That is true for any type of product being sold from clothes to cars to watches.
One thing I really believe to be true is there is too much product of almost everything in the market. Too many cars, flat screens, sports clothes the list is endless.the Grey dealer has a very interesting business model, discount new or nearly new product at a price it will sell for and at the same time anything that is hard to get- apply a premium to. It annoys me no end I can’t go into an AD where I bought my first DJ from nearly 40 years ago and buy a new Pepsi GMT. I’m talked to in a dismissive tone by a sales assistant like I’m wasting my breath. The same assistant who would be falling over me if I wante an DJ41.

[asiparks]

let's see how long before the bubble bursts, especially for the BLRO, once the new Basel releases are announced.
Generally, the "hotter" and item is, the more precipitous it's decline when it's no longer "in"

I understand for some buyers, there is only Rolex, but when a 116500 costs about the same as an AP ROC, I know which way I'd swing...

[Abdullah71601]

Originally Posted by 77T

Is it just me, or does it make sense that a dealer would have that many on hand?

If their goal is selling Rolexes then it appears they have a poor “close the deal” ratio - else there wouldn’t be that much on hand.


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Agree. That much stock means sales are lacking.

I'm now seeing SS in stock at the AD's I visit. The grey prices are marked so high right now it will cost the same to buy from the AD, tax included. There is zero incentive to buy grey in this market.

The question this raises - Is the SS bubble getting ready to pop?

[crazymcmichael]

Originally Posted by bradyb

How many ADs are actually grey sellers as well? There's one I've worked with that I highly suspect. Uh oh.

I think it's great - good for them, but won't last.

This i think i see on 1 site in my country aswell, a few dudes that have shitloads of Rolex memorablia for sale but also quite a lot of hot selling watches… they are not trusted sellers or named grey market dealers but are trading via a free platform anyway this might be ADs for sure!

[Divingdeep87]

5 years ago everybody loved the grey dealers.... 😄

[Art 1]

Originally Posted by Abdullah71601

Agree. That much stock means sales are lacking.

I'm now seeing SS in stock at the AD's I visit. The grey prices are marked so high right now it will cost the same to buy from the AD, tax included. There is zero incentive to buy grey in this market.

The question this raises - Is the SS bubble getting ready to pop?

Yes it is. My guess will be after Christmas. You know I was just at an event at a Rolex AD that had a sub, sub date and a ss gmt. 1000 wined and dined rich people and those watches never sold at that event. I was very surprised. Greys are sitting on a lot of stock that the paid too much for.

[77T]

Originally Posted by Abdullah71601

The question this raises - Is the SS bubble getting ready to pop?

The number of individuals with enough excess disposable income to buy multiple high-end Swiss watches is declining methinks. The demographics are changing, too.

Other indicators like demand for high-end homes (above $500k), yachts, 2nd vacation homes, etc are also dropping.

These indicators were likely foreseen by Rolex - and then confirmed after Richemont had to buy back $400+million in stock from their dealers. https://www.theguardian.com/business...buyback-policy

Remember the reason they did that was to support retail prices after demand shrunk. Rolex strategy is just a different way to keep MSRP support high - ADs can point to the strong secondary market to overcome price objections.

I can close my eyes and hear them say, “This is a great investment”.


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[benvh]

It's why I said screw it and got a BB 58. I'll wait until both new & used Rolex come back closer to reality. Until then, I'm happy!

Ben

[Abdullah71601]

Originally Posted by 77T

The number of individuals with enough excess disposable income to buy multiple high-end Swiss watches is declining methinks. The demographics are changing, too.

Other indicators like demand for high-end homes (above $500k), yachts, 2nd vacation homes, etc are also dropping.

These indicators were likely foreseen by Rolex - and then confirmed after Richemont had to buy back $400+million in stock from their dealers. https://www.theguardian.com/business...buyback-policy

Remember the reason they did that was to support retail prices after demand shrunk. Rolex strategy is just a different way to keep MSRP support high - ADs can point to the strong secondary market to overcome price objections.

I can close my eyes and hear them say, “This is a great investment”.


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Rolex effectively drove grey prices up to MSRP. Now, David and others are sitting on stock that will sell for what you pay at your AD.

I see a lot of discounts coming at the greys. They can't sit on that overpriced stock forever. This is a good time to patient.

[THC]

DavidSW has many BNIB TT DJ41’s for 2k under MSRP, so the deals are still out there with him and many Greys... just sayin

[Abdullah71601]

Originally Posted by THC

DavidSW has many BNIB TT DJ41’s for 2k under MSRP, so the deals are still out there with him and many Greys... just sayin

He has a bunch of SS DJ's at $4-500 under retail. With tax, I pay the same at the AD.

I don't know about your AD, but mine is still discounting TT & PM.

David does have a sale going now. Some decent deals on Tudor.

[Jim Smyth]

Originally Posted by Nejmann

5 years ago everybody loved the grey dealers.... 😄

Still love my Grey Dealer. He is my unauthorized AD and we have done many deals and I get good pricing since I have been with him a long time.

[fiebru1119]

Originally Posted by squatchy

The answer to this is simple: Grays don't proclaim themselves as grays to their AD's. They simply seem like really good clients to the dealer, so they get top priority.

Most AD's have waiting lists on watches... who gets to be atop those lists? Those that have spent the most with the store.



As an AD myself, I can tell you that we've severed relationships with established "clients" after learning... sometimes months or years later... that they are flipping their purchases. But this can be difficult to police, unless in the OP's case, they share it all over social media.

While I take your point, I have a hard time believing ADs are treating these guys as average Joe’s. How many watches have we seen ourselves here on TRF with plastics intact, unnamed warranty cards, etc. That’s a big no-no-heck I requested they leave the glide clasp sticker on when I bought my LVc at an AD and it was a hard “no”.

[uansari1]

Originally Posted by Quamby

Once again, let's direct our anger to Rolex SA. They are the real guilty party in this. The greys are just doing what they have always done.

I remember when Grey market dealers were the place to get pre-owned or discontinued models....not brand new pieces. So no, it hasn’t always been like this...it’s a new phenomena from the past year or two only.


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[CK9366]

Rolex AD always tell no stocks !! But grey dealer full range of stocks + many pcs on hand .
Rolex head office shall investigate which AD tag team with grey dealer to slaughter consumer !! 😡

[Quamby]

Originally Posted by CK9366

Rolex AD always tell no stocks !! But grey dealer full range of stocks + many pcs on hand .
Rolex head office shall investigate which AD tag team with grey dealer to slaughter consumer !! 😡

Rolex has a good idea who the big grey dealers are, in Hongkong at least.