Are The Resellers Becoming Too Greedy?

[QueueCumber]

Originally Posted by Wahlberg

They aren't controlling supply and, their production was halted for several weeks/months (happened with everyone). This is something they could have easily read in the news + used some common sense.This is happening with electronics (TVs,...) and clothing as well.

So discounts are lower or non existent + longer waiting times. People thought the used market would tank + the cars dealers already had in stock but the complete opposite happened. Nothing went down. Demand was always there, stock was depleting => prices remain or go up.

This is true, but with Rolex some SS production was already fairly low before Covid and prices were already inflated pre-Covid. Rolex pre-covid prices may have flattened its own covd-price curve... hahah

No joke on scarcity. Trying to put a racing simulator together while in lockdown turned into a project of waiting for months for some parts. My GF needs a new used car and looks like that won't happen for awhile.

[Bigblu10]

Originally Posted by QueueCumber

This is true, but with Rolex some SS production was already fairly low before Covid and prices were already inflated pre-Covid. Rolex pre-covid prices may have flattened its own covd-price curve... hahah

No joke on scarcity. Trying to put a racing simulator together while in lockdown turned into a project of waiting for months for some parts. My GF needs a new used car and looks like that won't happen for awhile.

Don't you have an extra Ferrari in the garage for her?

[behardt]

Originally Posted by tekno

I think the new watch demand isn’t near as high as people assume and Rolex limits production to keep their brand from tanking. They are creating demand by limited production. Luxury watch sales have been really bad in recent years.

This it was GENIUS on Rolex's part. The are brilliant marketers and this plan worked like a champ...

[tekno]

Originally Posted by behardt

This it was GENIUS on Rolex's part. The are brilliant marketers and this plan worked like a champ...

I agree, pretty smart. I would prefer cheaper Rolex. Especially vintage Tudor.

The only thing that I hate about inflated NEW prices is the way it screws up the vintage prices.

There are so many watches I want - I can’t buy - I assume a good percentage of guys who would buy new look at used watches since they don’t want to wait a year, pay 100% markup or get forced to buy a Datejust just to buy a Steel Sports watch.

The price of a 100% spare parts vintage watch is the same price as MSRP of Rolex of same model, so the price is a used correct version of that watch is more, and then a really nice one is even more.

To add to the craze, when Tudor drops a re-issue of something that few know about the price of the original skyrockets. Look at the Monte Carlo Chrono prices.


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[LeftHookLacey]

In some cases for sure. A local dude has an Airking for $10K. I've been offered 2 in the past 6 months at retail. Will be interesting to see how long he has it for.

[Xerxes77]

Yap..... they try

[173rdabn]

If you're silly enough to pay it, they're smart enough to take it.

[tekno]

Here is the real question, are the DEALERS becoming too greedy? Are they channeling the watches to resellers? Are they getting paid under the table commissions for doing this?

————————-—————————-
I am seriously curious why these posts still pop up - could someone explain the process of buying a new Rolex. Can’t regular joe order a new watch?

Who here has bought a Steel sports watch no strings attached... what IS that process.
—————————-—————————-

Here is how it went in 2011:
Baselworld 2011 BOOM - Rolex rehashed the Explorer II - I went to the dealer and dropped off $1000, I was put on a list and waited a year.

Here is how it went in 2020:
This is the most recent story I know of locally - a buddy wanted a green sub and was forced to buy a Datejust at retail to get the Green sub.


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[PSTW]

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

There’s no ‘becoming’ about it, resellers have been greedy for quite some time.

[Kevin of Larchmont]

Originally Posted by tekno

There are so many watches I want - I can’t buy -


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The entire thread in a nutshell.

[Bigblu10]

Why does everyone on this forum assume that the only watches people want to buy are stainless professional models? This forum is living in a bubble. Plenty of people in the real world buy DJ's, PM models like the Day Date and others.

[JEAJ]

I agree, comparing a piece of property to a watch is truly ludicrous, especially a Rolex, which as you know, is mast produced. Don’t misunderstand me, I love my Rolex but not to the extent I would pay triple. In any case, if someone pays three times MSRP for a SS sub, are they going lock in a safe or wear it? I bet they lock it up, ridiculous. If you are not going to wear something you just payed triple MSRP, what’s the point. I’m never going to understand in today’s world, how anyone can consider wearing a Rolex any great status symbol. Yes, they are certainly a nice watch, and I wear mine often, because I love wearing it. I personally don’t care who notices or who doesn’t. Those of us who are fortunate enough to have even one Rolex, are truly lucky. There is nothing I want so badly that I would consider paying triple the retail price. Perhaps, I view things differently, because I’m often the last person to be with someone at end of life. Enjoy life, enjoy your favorite watch, enjoy those you love, and enjoy this forum because it’s fun.

[Harry-57]

Originally Posted by tekno

and was forced to buy a Datejust at retail.

How did they force him. Point a gun at him? Kidnap his children?

Newsflash for your buddy: appealing to his greed is not coercion.

[dknt88]

The current ss sport model Patek market has been ridiculous as well...Its a loaded conversation, obviously, but generally grey market asking double (give or take) list prices for 5711, 5712, 5726, 5167, 5164 etc...vintage 3700's are crazy money while 3800's aren't too bad. AP 15202's are going for big money while 15400 and 15500 are more "reasonable" relative to list prices... just nuts all the way around in the grey market for certain ref# ss sports models by the Big 3, but that's old news...

[dmash]

Originally Posted by thedak

Fake News

While I do think it will be going downwards (very much so), ‘kill’ is nonsense

[Patton250]

Originally Posted by dmash

While I do think it will be going downwards (very much so), ‘kill’ is nonsense

Yeah but you predicted COVID would bring these highly desired models back to retail pricing if I remember.

At my AD yesterday picking up my 116518LN my salesman buddy said they stayed busy as ever through the whole thing and in fact are busier now then pre COVID. Of course Florida is open so he is only speaking for his experience here. Lots of states are still closed.

Most investors know what will cause the economy to truly recline. Hopefully we avoid that. I like having a robust economy.

[dmash]

Originally Posted by Patton250

Yeah but you predicted COVID would bring these highly desired models back to retail pricing if I remember.

At my AD yesterday picking up my 116518LN my salesman buddy said they stayed busy as ever through the whole thing and in fact are busier now then pre COVID. Of course Florida is open so he is only speaking for his experience here. Lots of states are still closed.

Most investors know what will cause the economy to truly recline. Hopefully we avoid that. I like having a robust economy.

You’re on another planet if you think we’re done with COVID We’ll see how everything plays out next year. Nobody could have predicted the level the fed intervened, but’s it’s still smoke and mirrors and we’ll start seeing the real damage next year I think. I can fully admit though I thought prices would *at least* stop increasing, but they continued. It’s nuts right now. I know people who pulled unemployment+$600 and worked under the table, netting more than they were at their careers, insane.

And I don’t say that as a downer hoping we’re in a mess, as real people are affected in that kind of downward spiral. Just calling it like I see it, don’t see how it’s feasible this continues.

[Patton250]

Originally Posted by dmash

You’re on another planet if you think we’re done with COVID We’ll see how everything plays out next year. Nobody could have predicted the level the fed intervened, but’s it’s still smoke and mirrors and we’ll start seeing the real damage next year I think.

Well since the CDC announced that under 10% of all the recorded deaths were actually 100% from Covid only I think that’s changed things a bit. Nobody I know, absolutely nobody is concerned about this virus anymore. I just went through it last week. Three days of minor cold like symptoms and 100% loss of taste and smell for about five days. Back to work this week Covid free. I’m fairly confident most of the government understands what a mistake it was to drive the economy down and hurt business like we did a few months back. I don’t see them repeating that ever again. I know we won’t in Florida. The fundamentals of the economy are incredibly strong. Only one thing can change that. We will know soon enough.

[dmash]

Originally Posted by Patton250

Well since the CDC announced that under 10% of all the recorded deaths were actually 100% from Covid only I think that’s changed things a bit. Nobody I know, absolutely nobody is concerned about this virus anymore. I just went through it last week. Three days of minor cold like symptoms and 100% loss of taste and smell for about five days. Back to work this week Covid free. I’m fairly confident most of the government understands what a mistake it was to drive the economy down and hurt business like we did a few months back. I don’t see them repeating that ever again. I know we won’t in Florida. The fundamentals of the economy are incredibly strong. Only one thing can change that. We will know soon enough.

I’m originally from Florida, it’s nuts there, not in a good way. America failed as a whole, this is a fact, go anywhere else in the world and see how much more serious they’re taking this.

EDIT; Pm’d

[Kevin of Larchmont]

Grabs popcorn.

[In-Cog-Neeto]

Originally Posted by Patton250

Yeah but you predicted COVID would bring these highly desired models back to retail pricing if I remember.

At my AD yesterday picking up my 116518LN my salesman buddy said they stayed busy as ever through the whole thing and in fact are busier now then pre COVID. Of course Florida is open so he is only speaking for his experience here. Lots of states are still closed.

Most investors know what will cause the economy to truly recline. Hopefully we avoid that. I like having a robust economy.

Speaking to my AD, last month was their busiest month on record. They’ve seen demand for Rolex double. Even they couldn’t believe it

I for sure saw prices dropping, and they did not. Have to say I am surprised

[Patton250]

Originally Posted by dmash

I’m originally from Florida, it’s nuts there, not in a good way. America failed as a whole, this is a fact, go anywhere else in the world and see how much more serious people are taking this.

Not going to get political but your statements are bordering silly that ‘nobody cares’ anymore. I know tons of people who ‘care’. ~200,000 are dead in the US, with COVID either being the source or an instigator due to other potential conditions (which would not have killed them). That’s kind of cold-hearted to those victims, as well as their family and future victims to have a mindset as if this isn’t serious whatsoever.

Also, can you link me where the CDC stated that they over-exaggerated more than 90% of COVID deaths? I’d like to read that as a working epidemiologist

PM sent

[dmash]

Originally Posted by Kevin of Larchmont

Grabs popcorn.

Haha nah I was about to tell him to take it to PM anyways, I don’t want this thread closed as there was some good discussion in here.

Originally Posted by Patton250

PM sent

Originally Posted by In-Cog-Neeto

Speaking to my AD, last month was their busiest month on record. They’ve seen demand for Rolex double. Even they couldn’t believe it

I for sure saw prices dropping, and they did not. Have to say I am surprised

It shocked me. How fast the market bounced shocked me too. I completely misjudged it all and some of my friends made ridiculous money buying the bottom. As I mentioned above, the fed intervention was unprecedented. Between the unemployment *bonus* and PPP loans, tons of money was injected. That’s without them buying a single thing...

[drfrankenstein]

Originally Posted by dmash

Haha nah I was about to tell him to take it to PM anyways, I don’t want this thread closed as there was some good discussion in here.







It shocked me. How fast the market bounced shocked me too. I completely misjudged it all and some of my friends made ridiculous money buying the bottom. As I mentioned above, the fed intervention was unprecedented. Between the unemployment *bonus* and PPP loans, tons of money was injected. That’s without them buying a single thing...

there will eventually be a day of reckoning as the government just continues to print money - the question is when

[David001]

Originally Posted by tekno

————————-—————————-
I am seriously curious why these posts still pop up - could someone explain the process of buying a new Rolex. Can’t regular joe order a new watch?

Who here has bought a Steel sports watch no strings attached... what IS that process.
—————————-—————————-

I guess it depends on the AD

I walked into a shop I'd never been in before back in July, had a really nice conversation with an assistant, I said I really liked the Explorer 2 and after a bit of chatting she went into the back then came out with the watch I wanted and I bought it.

It really was that simple.

In another store I've used a few times I have a rose gold Daytona on order and no signs of it coming any time soon.
So it's pot luck I guess.

[JaumeB]

Originally Posted by Marcjvr

So if I want to sell my Rolex one day, whatever the reason, must I not try and get as much as I can for it ?

Without a doubt, most of us think we would do the same.

[Nidal]

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.

I second the motion.
Some are still decent and don’t play that game.
Gray market, if you don’t buy from them because they make a large profit - and they do- some make 4 million dollars a year easy. Or flip a high end Patek for 100k profit in 5 minutes. , then that’s a personal decision, and I respect it.
There is sooooo much easy money out there, stock market people for instance who are willing to pay the premium dollar for convenience. They make it harder foe the rest who labor daily even for good money IMO


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[novae500]

Supply and demand as well as FOMO of owning a Rolex at any cost!!


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[Kevin of Larchmont]

Originally Posted by tekno

Here is the real question, are the DEALERS becoming too greedy?

Here is the real question, is anyone who has an item or property for sale and tries to get as much as they can for it being too greedy?

Just because someone might really really sooper dooper want my house or my car or my watch or whatever I have for sale does not mean I shouldn’t try to get as much as I can for it. With a little help from the free market the person with an item for sale rightfully determines the selling price, not the person who wants it.

[grimps]

Originally Posted by 1kw

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..

I think someone would have to be very foolish to pay 27000 for a Sub , even the richest person would probably check the market value of something before buying.
I reckon this would just be bedroom dealer advertising a watch they don't have in stock that would be easy to obtain