ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
17 September 2020, 05:49 PM | #31 |
"TRF" Member
Join Date: Oct 2016
Real Name: Steve
Location: UK
Posts: 198
|
It's not about greed, the market sets the price.
|
17 September 2020, 05:57 PM | #32 |
2024 Pledge Member
Join Date: Aug 2012
Real Name: Lee
Location: 42.48.45N70.48.48
Watch: What's on my wrist
Posts: 33,256
|
Resellers aren't the only ones who are greedy. I'd say anyone who buys as a method of accumulating wealth fits in the same category. If the market prices a watch at a certain price point in the secondary market there is no reason anyone should expect to buy for less than market price on the secondary market. If someone doesn't like the pricing the solution is straight forward, don't buy in that market. Simple!!!
|
17 September 2020, 07:06 PM | #33 |
2024 ROLEX DATEJUST41 Pledge Member
Join Date: Apr 2013
Location: NL
Watch: Yachtmaster
Posts: 14,352
|
I’m sorry, are you not a bit out of touch with the real world ?
This really sounds entitled. Calling anybody having the means to buy a Rolex vulnerable is insulting to people who have to make ends meet every month from a low paying job. I don’t feel sorry ever for somebody who cannot spent 10K on a watch because the bigger guy takes it for 20 K
__________________
Day Date 18238, Yachtmaster 16622, Deepsea 116660, Submariner 116619, SkyD 326935, DJ 178271, DJ 69158, Yachtmaster 169622, GMT 116713LN, GMT 126711. |
17 September 2020, 07:41 PM | #34 | |
"TRF" Member
Join Date: Nov 2018
Real Name: Teck
Location: South East Asia
Watch: Tudor Black Bay 58
Posts: 1,846
|
Quote:
Rolex sells their watches in bulk to the Authorised Dealers who in turn are given plenty of leeway by Rolex in how they choose to sell to the end user. Certain rules apply like not selling any particular watch above the price Rolex has set for that watch for that country. Sent from my iPhone using Tapatalk |
|
17 September 2020, 07:43 PM | #35 | |
2024 Pledge Member
Join Date: Aug 2010
Real Name: H
Location: North Carolina
Watch: M99230B-0008
Posts: 5,672
|
Quote:
Stay safe.
__________________
The King of Cool. |
|
17 September 2020, 07:56 PM | #36 |
"TRF" Member
Join Date: Jul 2012
Location: USA
Watch: SubC LV
Posts: 1,820
|
|
17 September 2020, 08:01 PM | #37 | |
"TRF" Member
Join Date: Nov 2018
Real Name: Teck
Location: South East Asia
Watch: Tudor Black Bay 58
Posts: 1,846
|
Quote:
There is so much anger at Rolex for not fulfilling peoples desires. All this angst actually appears to be fuelling the brand rather than causing some sort of eventual backlash. Sent from my iPhone using Tapatalk |
|
17 September 2020, 08:04 PM | #38 |
"TRF" Member
Join Date: Jun 2012
Location: Europe/Asia
Watch: AP/Rolex
Posts: 1,276
|
Are The Resellers Becoming Too Greedy?
No, since Rolex is not an essential item and your not forced to buy it. Grey dealers are people too and looking to earn a buck to feed their families, obviously take the opportunity to make a few more bucks if the occasion arises.
It’s not like someone buying up all the cancer meds and then charging cancer patients 2.5 times retail. They are vulnerable people since their life depends on it and no other choice, not folks able to blow disposable income in a Rolex. If some sucker offered me $27k for my Sub, you think I’m going to say no and give them for retail price as I feel sorry for them? No chance! Sent from my iPhone using Tapatalk |
17 September 2020, 09:11 PM | #39 |
2024 Pledge Member
Join Date: Sep 2018
Location: U.S.A.
Watch: SD43
Posts: 3,105
|
They have become so greedy it’s absolutely hilarious. Hopefully when the pendulum swings back and hype/demand/Instagram(whatever you wanna call it) dissipates and the dust settles the greys haven’t burned too many bridges.
|
17 September 2020, 09:12 PM | #40 |
2024 ROLEX DATEJUST41 Pledge Member
Join Date: Nov 2010
Location: North Carolina
Watch: Rolex/Others
Posts: 44,718
|
Here we go again. Beating the drum about resellers and the market and how much everything costs. I get it and I wish that I could still walk into my AD and buy a Hulk for 7k and get five years interest free. But that is not the case so all the whining and belly aching about prices and Trusted Sellers and the Grey Market is not going to change. The market is what it is for many well documented reasons and will not change in the short term significantly. It really should be about the watches not the costs.
|
17 September 2020, 09:30 PM | #41 |
Banned
Join Date: Jul 2017
Real Name: Jaime
Location: Here
Posts: 5,606
|
|
17 September 2020, 09:36 PM | #42 | |
"TRF" Member
Join Date: Jun 2019
Location: New England
Watch: BLRO;PP5230G
Posts: 544
|
Quote:
|
|
17 September 2020, 09:40 PM | #43 |
"TRF" Member
Join Date: Aug 2010
Location: pa
Posts: 313
|
I was kind of surprised to read so many sympathetic views for the resellers. I have nothing against a business making a profit however posting a sub. In stainless steel for 27 k is kind of greedy pure and simple in my opinion. I have purchased 6 Rolex watches from a gray dealer here in the past at below MSRP . I do wonder if people who pay over MSRP for any Rolex have buyers remorse , its a mass produced watch. I have been buying other brands the last year that are available, which admittedly don’t have the resale value of Rolex but I have no buyers remorse..
|
17 September 2020, 09:46 PM | #44 |
"TRF" Member
Join Date: Feb 2014
Location: Middle West
Posts: 1,075
|
It’s the same dumb conversation over and over around here....
|
17 September 2020, 09:48 PM | #45 | |
"TRF" Member
Join Date: Nov 2018
Real Name: Teck
Location: South East Asia
Watch: Tudor Black Bay 58
Posts: 1,846
|
Quote:
So you’re saying they should not be trying to sell a luxury product for the most money that they believe people are willing to pay? And they do know very well what people are prepared to pay regardless what any ‘false demand’ theorists think. Sent from my iPhone using Tapatalk |
|
17 September 2020, 10:36 PM | #46 |
"TRF" Member
Join Date: Jun 2018
Location: East Coast
Watch: 16610
Posts: 4,933
|
There are suckers that will spend those amounts because they want to be the first to post to their instabook-hey look what I got, and are willing to look past the fact that they are being had.
See the AD's pretends to cater to everyone, and has a few pieces on hand for the regulars, but the gray market caters to those who know and value the watches enough to pay more than MSRP. Most people looking for a graduation present walk in, ask for a sub/gmt/daytona the AD says, lol we don't have any, gives them the business about how in demand they are-similar to a used car salesperson (meanwhile 5 just went out the back to the gray dealer), and the regular consumer walks away and gets something else. The people in the know, they know where to go, but are extorted into paying if they want bragging rights. Cynical way of looking at it, but a good amount of truth as well. |
17 September 2020, 10:45 PM | #47 |
"TRF" Member
Join Date: Jan 2018
Location: Earth
Posts: 1,491
|
Option C: Don't buy that watch. Buy something else. Would I get a white Daytona at retail? No questions asked. Will I pay market value for it? No way in hell. At that price point I'm looking for other watches. Some of which I may get at an AD if it suits me and hopefully I'll then get the Daytona at retail. Or I'll get them for cheaper not at an AD. Now if Daytona was let's say 1, maybe 2k over retail, I would maybe get it grey, just to avoid the wait, etc. But at its current price? No way. Obviously that amount will differ for everyone.
|
17 September 2020, 10:55 PM | #48 |
2024 Pledge Member
Join Date: Jun 2014
Real Name: Ben
Location: Valley of the Sun
Watch: 126331 126610 3861
Posts: 3,235
|
|
17 September 2020, 11:00 PM | #49 |
2024 Pledge Member
Join Date: Jul 2016
Location: The Doghouse
Watch: Ingersoll Mickey
Posts: 2,819
|
|
17 September 2020, 11:08 PM | #50 | |
2024 Pledge Member
Join Date: Aug 2014
Real Name: Francisco
Location: San Juan, PR
Watch: Is Ticking !
Posts: 24,601
|
Quote:
Nailed it! Sent from my iPhone using Tapatalk Pro
__________________
Francisco ♛ 16610 / 116264 Ω 168.022 / 2535.80.00 / 2230.50.00 Zenith 02.470.405 Henry Archer Eclipse 2FA security enabled |
|
17 September 2020, 11:08 PM | #51 |
"TRF" Member
Join Date: Jun 2020
Location: New Jersey
Posts: 307
|
yes, resellers are greedy. no question about that, lol.
but as long as there are enough suckers out there that want to shell out $25-30K for a steel Sub, with a green colored ring, then these resellers will keep doing what they've been doing. There are lots of profits to be made by those that are able to take advantage of systematic, market wide inefficiency. Buying a Rolex watch is very in-efficient, at large. you have to play games with AD's with silly waiting lists, bundling purchases, etc to "qualify" for a new steel Rolex watch. Resellers are taking advantage of this inefficiency. Ultimately, market inefficiency tends to correct itself over long term. Either the demand for these products at these crazy prices will get hammered down, or the distribution network will improve, or some other factor will come into play. Think about department stores that sold luxury clothing in the past, for a huge mark-up and fat margins, such as Neiman Marcus, etc. Look where they are now. Market inefficiency does not last forever, especially in the 21st century with the technological advances and competitive pressure from supply side. |
17 September 2020, 11:08 PM | #52 |
"TRF" Member
Join Date: Mar 2008
Location: Colorado
Posts: 2,384
|
|
17 September 2020, 11:08 PM | #53 | |
2024 Pledge Member
Join Date: Oct 2015
Real Name: Brett
Location: Florida
Watch: 5205R
Posts: 5,158
|
Quote:
Yes it is the same thing. Exactly the same.
__________________
Morality does not derive from consensus. It only comes from one place. Pride goes before destruction, and haughtiness before a fall. Often times unbelief is disguised as wisdom Instagram - patton250 |
|
17 September 2020, 11:11 PM | #54 | |
"TRF" Member
Join Date: Feb 2017
Location: USA <> BKK
Posts: 5,912
|
Quote:
People going to be beating themselves up in future years, because some are telling themselves ‘oh this is the new reality’. Same sentiment running around like before ‘08 Market and before ‘17 Crypto in my opinion. Everyone ignores logic such as, every single ‘hot market’ in history has fizzled out at some point......but hey, only time will tell and this could be the ONE thing to ever hold forever. |
|
17 September 2020, 11:12 PM | #55 | |
"TRF" Member
Join Date: Feb 2017
Location: USA <> BKK
Posts: 5,912
|
Quote:
|
|
17 September 2020, 11:15 PM | #56 | |
"TRF" Member
Join Date: Jun 2020
Location: New Jersey
Posts: 307
|
Quote:
housing in certain location - this is a naturally limited product. land cannot be created. extra housing in certain regions cannot be built easily, due to supply of land, zoning laws, etc watches on the other hand... well these are pure commodities with each manufacturer producing many thousands of them each year. also housing is a necessity. a luxury watch is a jewelry, a discretionary item. very different things. |
|
17 September 2020, 11:17 PM | #57 |
"TRF" Member
Join Date: Jun 2020
Location: New Jersey
Posts: 307
|
I understand huge grey market premium on very unique / rare timepieces, that many enthusiasts consider to be "work of art".
certain pieces from AP or PP would fit that bill. A Rolex Submariner with a green colored ring, fetching 150-200% premium in grey market - this is resellers taking advantage of suckers, who are sucked into short term hype and insanity. |
17 September 2020, 11:17 PM | #58 |
2024 Pledge Member
Join Date: Mar 2017
Location: United States
Watch: Rolex and Patek
Posts: 10,590
|
Its not the asking price but what the watch actually sells for. We never know the real secondary price out the door. These prices will remain high if Rolex underdelivers on the new Subs which several people have said they intend do.
I think all these companies love the aftermarket price structure as it is the best form of advertising. |
17 September 2020, 11:21 PM | #59 | |
"TRF" Member
Join Date: Feb 2017
Location: USA <> BKK
Posts: 5,912
|
Quote:
Now something like a limited run, open work AP fetching a premium? That’s understandable. |
|
17 September 2020, 11:21 PM | #60 |
"TRF" Member
Join Date: Jan 2009
Real Name: Larry
Location: Kentucky
Watch: Yes
Posts: 34,479
|
What is the goal of a capitalist economy, if not to make money?
I'm willing to bet a large percentage of our members have lived by this creed their entire lives, if not, we would not be on here spending Rolex money on a wrist watch. Count me in this group, by the way. To turn on the resellers and label them as "greedy" is at best, childishly naive, and at worst, shows your true colors, which, by the way, look like you're just throwing a temper tantrum because you can't get the watch you want. If you think the price is too high, well, here's a shocking revelation: you don't have to pay it. But...don't use the word greed, unless you personally want to eschew the bonds of materialism and live your life holed up in a cave somewhere. And when you do, be sure to let us know how that works out for you. Oh wait, I forgot...computers and internet cost money. |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.