Are The Resellers Becoming Too Greedy?

[1kw]

Stainless steel submariner with asking price of $27,000 ! Common I can’t relate to these prices . First the Daytona then the Stainless steel Pepsi and now the stainless sub. . Rolex seems to be trying to make flippers rich and the public is going to be turned off with waiting times that take years

[drfrankenstein]

Always shock prices in the beginning...it’ll cool down

[garyk]

I would be willing to bet in a Rolex boardroom somewhere they do not see things the way they are described on TRF. Not even close...

[mml4]

Becoming?

[dpt.calvin]

Here we go again.

[vh2k]

Perfectly legitimate topic. Should be a poll.

Resellers can list for whatever prices they want. Nobody is forced to buy a watch from them.

[MichaelFlash]

I was shocked perusing the grey market. Reminds me of the housing bubble in the early 2000s. Everything Rolex is skyrocketing with no end in sight. It would be easy to say this market has to crash and burn because these ludicrous numbers can't be sustained. However, if enough people in the world agree that Rolex is THE luxury watch brand to own, it may never crash and burn and we may be seeing subs in the 40Ks. Why not? Simple supply and demand. Most other brands will suffer though because most of the money will be focused on Rolex and also AP and PP.

[kieselguhr]

surprised Rolex hasn’t been blamed for 2020 yet

[Tools]

Originally Posted by 1kw

Stainless steel submariner with asking price of $27,000 ! Common I can’t relate to these prices . First the Daytona then the Stainless steel Pepsi and now the stainless sub. . Rolex seems to be trying to make flippers rich and the public is going to be turned off with waiting times that take years

Resellers can ask any price they want, and will, as long as somebody is willing to pay it.

Personally, I can't think of a watch that I would pay an unreasonable asking price for.

Rolex doesn't have anything to do with the secondary market or Dealers who sell to flippers.

[Rado63]

My .02 is that Rolex is having the AD cultivate and maintain a clientele with a history of spending at the AD. This creates the aura of exclusivity. The exclusivity preserves the value of the piece on the secondary market. All of this happening while Rolex carefully manages production volume and distribution. Even the new oyster perpetual is offered at a premium out there by resellers. The last time I was in a Rolex boutique not just an AD, but a boutique what i noticed was how few pieces they had in the cases.

[jvb.nc]

they’ve always been greedy. as long as people pay them, they will continue to be so.

[Dan GSR]

if you don't like the flippers, don't buy it

[rolexonlywatch]

This won’t happen if no ones buy from grey market.




Sent from my iPhone using Tapatalk

[jvb.nc]

Originally Posted by Dan GSR

if you don't like the flippers, don't buy it

i don’t.

[TimeAZ]

Ok, well, for ORDINARY people, meaning most of us who don't have lucky connections to the owner or management of an AD, your options are really limited.

Option A: Pay $27,000 and get the hottest new release, which is brand new and unworn, sent to you by overnight shipping with no tax, and enjoy the experience of no BS, no games, no politics, no wait-list, no false promises, and instant satisfaction.

Option B: Pay at minimum $50,000 (and for some, $100k or more) in garbage jewelry or maybe other inferior and less-desirable watches in order to establish yourself as a "preferred client" ("VIP"), with the HOPE of being offered the chance to buy at retail at $10,000 (when factoring tax), but you might still have to wait, and there's almost certainly at least a few (or dozens) of other people vying for the same piece. Keep in mind-- No guarantees with this approach!

Personally, I think Option A is far more appealing.

Lately I have really grown to appreciate the grey market and find that the trusted sellers are a fantastic service. My most satisfying watch purchases have come from trusted seller transactions. Now that the new warranty no longer indicates the name of the purchaser, I have even less reservations about buying grey.

As for the asking price: It's an open market. The price is always fair. That's how markets work. If the price is ludicrous, nobody will buy it. Then the price comes down. I see no issues with that. The listings are valid, justified, and acceptable, just not something that I would personally buy at $27,000 but that is my choice as a potential buyer, obviously.

[jvb.nc]

Originally Posted by TimeAZ

Ok, well, for ORDINARY people, meaning most of us who don't have lucky connections to the owner or management of an AD, your options are really limited.

Option A: Pay $27,000 and get the hottest new release, which is brand new and unworn, sent to you by overnight shipping with no tax, and enjoy the experience of no BS, no games, no politics, no wait-list, no false promises, and instant satisfaction.

Option B: Pay at minimum $50,000 (and for some, $100k or more) in garbage jewelry or maybe other inferior and less-desirable watches in order to establish yourself as a "preferred client" ("VIP"), with the HOPE of being offered the chance to buy at retail at $10,000 (when factoring tax), but you might still have to wait, and there's almost certainly at least a few (or dozens) of other people vying for the same piece. Keep in mind-- No guarantees with this approach!

Personally, I think Option A is far more appealing.

Lately I have really grown to appreciate the grey market and find that the trusted sellers are a fantastic service. My most satisfying watch purchases have come from trusted seller transactions. Now that the new warranty no longer indicates the name of the purchaser, I have even less reservations about buying grey.

As for the asking price: It's an open market. The price is always fair. That's how markets work. If the price is ludicrous, nobody will buy it. Then the price comes down. I see no issues with that. The listings are valid, justified, and acceptable, just not something that I would personally buy at $27,000 but that is my choice as a potential buyer, obviously.

valid arguments, 100%. i don’t detest the existence of a grey market. i abhor the rabid reselling for absurd prices. which i think most of us do. but there’s always that dude that’s drunk and on chrono24 at 0300 and is like “****it.”

i also think it’s an interesting social experiment, seeing how the insta “flex” has pushed secondary pricing.

i will say that when i began collecting rolex i had zero connections. and the only remotely garbage thing i’ve bought from my AD was a cartier that my ex left when she did. BUT, i also admit that it took me eight months to find this particular AD. has turned out well for him, certainly

of course i’m lucky to have found the situation i’m in and i have to be realistic and understand that not everyone has that opportunity. and given the above factors i think you make a fairly well-considered argument in support of grey dealers.

but ya the absurd price gouging is the issue that no one can solve until people stop paying them.

[legacy404]

yeah....

[s1mb4]

Originally Posted by Rado63

My .02 is that Rolex is having the AD cultivate and maintain a clientele with a history of spending at the AD. This creates the aura of exclusivity. The exclusivity preserves the value of the piece on the secondary market. All of this happening while Rolex carefully manages production volume and distribution. Even the new oyster perpetual is offered at a premium out there by resellers. The last time I was in a Rolex boutique not just an AD, but a boutique what i noticed was how few pieces they had in the cases.

You'll always find a two tone DJ with diamond dial though

[Doood]

Who knows what they actually pay for the hot references though, right? Their margins may not be that fat.

[donas]

Originally Posted by jvb.nc

they’ve always been greedy. as long as people pay them, they will continue to be so.

I agree if your definition of greedy is selling something for the maximum amount someone will buy it for. But, if this is the case, why not? When you sell something, do you not get as much for it as you can? It's not the grey's fault people are morons and paying triple MSRP for a stainless watch that is probably many years from being discontinued.

There was a time when people bought from greys because the merchandise was substantially below MSRP. It was priced below MSRP because that is what people were willing to pay at the time.

[Son Goku]

Originally Posted by Rado63

My .02 is that Rolex is having the AD cultivate and maintain a clientele with a history of spending at the AD. This creates the aura of exclusivity. The exclusivity preserves the value of the piece on the secondary market. All of this happening while Rolex carefully manages production volume and distribution. Even the new oyster perpetual is offered at a premium out there by resellers. The last time I was in a Rolex boutique not just an AD, but a boutique what i noticed was how few pieces they had in the cases.

100% spot on.

[jvb.nc]

Originally Posted by donas

I agree if your definition of greedy is selling something for the maximum amount someone will buy it for. But, if this is the case, why not? When you sell something, do you not get as much for it as you can? It's not the grey's fault people are morons and paying triple MSRP for a stainless watch that is probably many years from being discontinued.

There was a time when people bought from greys because the merchandise was substantially below MSRP. It was priced below MSRP because that is what people were willing to pay at the time.

ok. maybe i paint with too broad a brush. but i also find that this is true for resellers of all kinds of goods. and also true that it’s the idiots buying that drive the greys.

and sure, if i were to sell something i would probably not want to get the lowest possible offer. but i also don’t feel the need to profiteer. and in the twixt may we meet; or not. i think this is a legitimate conversation with validity on both sides.

[Ihatecheese]

There will always be those praying on the vulnerable.

If certain people cannot see how ridiculous it is to spend more than 3* list on something ubiquitous (that they like), then there is no hope! I would think the dealers would share the customers info so that their friend's can also sell them overpriced stuff

[Tanuki]

[QUOTE=rolexonlywatch;10920907]This won’t happen if no ones buy from grey market.



This is exactly right. The prices will just keep going up because y’all are just caught up in this feeding frenzy. So many people on here say they’re not caught up in the hype but if that were true then no one would even entertain the idea of the secondary market prices. I have immense respect for the brand but will not let myself get suckered into thinking a sub is worth 27k.

[Yess]

I think your theory is backward.

It's not silly to ask a certain price, but it certainly can be silly to pay an asking price.

[Harry-57]

Originally Posted by kieselguhr

surprised Rolex hasn’t been blamed for 2020 yet

That thread was locked.

[MrJKLFoams]

At the moment rolex is the money watch sad but true and to make it worst we created this monsters.

[kans86]

Already cooling down. I saw 126610LN offered for around USD 17k 1-2 days ago.

[Andad]

Does a manufacturer such as a Rolex have absolute control as to how their product is distributed?

[Tanuki]

Originally Posted by Yess

I think your theory is backward.

It's not silly to ask a certain price, but it certainly can be silly to pay an asking price.

Haha!!! That’s spot on