Ask an Insider Thread

[Sose]

I'll be paying close attention to his thread!
Thank you!

[HL65]

Originally Posted by The GMT Master

The sports watches are all on allocation, at least for steel ones. Rolex can be more accomodating with TT and precious metal models.

As for the freebies, we don't get anything much anyway! The most we normally get are a few diaries at the start of the year, and they tend to go to the staff. The bosses sometimes bring back a couple of freebies from official Rolex events (Basel/RSC tours/sponsored sporting events etc.), there are usually a box of really nice chocolates that turn up. But apart from those, the freebies have been pretty much non-existant since I've been at the shop, which is a shame. A freebie would make the buying experience that little bit more special, in my opinion

Chris--great post--thanks for the insight. That is interesting though that SS sports models are all on allcocation. That is not the case in the US. I can order anyone except: Daytona, Ceramic LV, Milgaus, and Explorer 2--as they are all on allocation. I wonder if that is specific to UK? Thanks again for the insight!!

[spuds]

Great thread Chris!!

[SC11]

Yep Chris is a legend !

Helped me secure my Sub-C

Just a shame my watch purchases have come to a temporary halt due to wedding and forthcoming house purchase.

But can't see it being too long before he hears from me again !

Many thanks again pal, have a great Xmas.

Sam

[Dan2010]

Originally Posted by pitbull666

Yep Chris is a legend !

Helped me secure my Sub-C

Just a shame my watch purchases have come to a temporary halt due to wedding and forthcoming house purchase.

But can't see it being too long before he hears from me again !

Many thanks again pal, have a great Xmas.

Sam

You could always put off getting married and buying a house! You do have choices you know....

[The GMT Master]

Right, time for round two of questions! Please keep them coming

Originally Posted by jizeal

1. What is the best discount you guys gave on a SS Daytona???

2. How does your commission structure work?

We don't give any discount on SS Daytonas, if one is available, it is at full RRP

As for commission, again, we don't do that. We have a couple of incentives from individual brands (Raymond Weil and one of our diamond brands), but no real commission. There are group bonus incentives, and if you've pulled off a particularly good sale, there's often a bottle of something to say thankyou from the management

[The GMT Master]

Originally Posted by Gagebuilder

Hello,

What sort of training does a new sales associate receive? Is there any initial and/or ongoing training for you?

What does your AD look for when it needs to hire a new person for the sales staff?

Thanks, in advance.

Hi Doug,

You might be surprised to hear this, but there is no formal training or training material available for a new sales assistant from Rolex. I picked up everything ad hoc - first stage was familiarisation with models, basic features etc., and I ended up learning the vast majority of stuff from TRF. I'm in a position to pass that information on now, so I'll often fetch some watches to explain the finer details to my fellow sales associates. I've also been looking after a couple of young trainees when I've been working with them. We're only a small company, so we don't have, at present, a formal training structure, but we are changing that. Our sales assistants, as a general rule, can cover all the points that 90% of customers want to hear - for the 10% who need the ultra high detail, myself or the MDs can step in to help out. What we do encourage sales staff to do is not to try and blag their way round a question they don't know the answer to - the last thing anyone wants is to spread misinformation

As for new staff, it does vary. For full time members of staff, we tend to look for people who have prior experience in jewellery and watches specifically, or more generally in retail. For part timers, we're a little bit more flexible - we tend to get younger people to fill those roles, so we're looking for a capacity to learn. We tend to have pretty relaxed and friendly staff, and have a very low turnover of personnel, so we try to look for people who would fit in well within the company.

[The GMT Master]

Originally Posted by Michael M.

Is it possible to buy rolex displays through a AD or get them free?

All Rolex displays have to be destroyed once they become obsolete. We have to take off any references to Rolex and damage them. It's a shame, but I think it is to stop grey dealers using material intended for ADs

[007Willster]

Hello Chris - great thread!

Do you have any thoughts about your status as an Omega AD. Specifically, with Omega opening all of the boutique locations do you thing they will pull your AD status.

Also, how do your other brands, including Omega sell against Rolex in your shop?

Thanks again!
Mike
.

[The GMT Master]

Originally Posted by STEELINOX

Hello Chris; great thread you have here...

My name is Randy and my query for you is in regards to customers that want to buy a watch, but there is something they want changed...

For example, a watch that is the display case has a bracelet and the customer prefers it on leather or lizard, or maybe even a nato strap instead of the metal strap. Do you offer to remove the metal strap and put in place a leather and adjust the price accordingly to make the sale?

What if the watch was a GMTc, and the customer wanted it on lizard strap rather than the now ever popular solid linked 'easy link' strap?

Thanks...

Hi Randy,

As the price for the watch is inclusive of the watch head and bracelet, we have to sell them at that price regardless. What we probably would do (as I haven't come across the situation myself) is throw in a nice strap as part of the price agreed. We wouldn't have any real use for spare bracelets, and Rolex wouldn't be keen on us selling them separately, apart from special orders. We do carry a nice range of hand-made straps ourselves, so if we can find something to suit, we'll include it in the price for the customer. We don't stock NATO straps at present, but I think it could well be a nice extension to the business - it could be something we include with a diver's watch, for example.

Hope this answers your question

[Fiery]

Fantastic thread! Thank you for answering all those questions, Chris.

Here's another one: you explained how the Sub-C and new Explorer is doing, but what about the DJ II? It seems to be less popular on this forum than most Rolex models, and even on the sales corner they move slowly. Apparently it suffers a lot of depreciation when going 2nd hand, so I'm wondering how sales are going about it? Do you sell more of the WG/SS model than of the TT? Do you have to discount it more than 10% to move them? Which particular DJ II dial choice is the top seller? I'd say the black sticks WG/SS, but maybe I'm completely off :)

Thanks again for taking the time answering the questions.

[Gagebuilder]

Originally Posted by The GMT Master

All Rolex displays have to be destroyed once they become obsolete. We have to take off any references to Rolex and damage them. It's a shame, but I think it is to stop grey dealers using material intended for ADs

I'm sorry to hear this, and Thanks for answering my questions!

[The GMT Master]

Originally Posted by tkc324

This is an awesome thread!!!

I would love to know how many SS Daytona does an AD get in a year?
Whats the most popular female Rolex models to be sold?

The easy answer is that every AD has their own supply from Rolex, and depends on variants such as size, region, and proximity of other Rolex ADs. As we're a reasonably sized dealership (but by no means massive), and the only Rolex dealer in the city, we get a really strong supply. We've been receving one a month this year, the supply has been superb.

As for ladies' models, the very very best seller has to be the two-tone 26mm Datejust, usually on Jubilee. It's a classic design, and has a versatility that women find attractive. The options of diamonds and mother of pearl options means that it's a great watch to personalise. The other popular model would be the steel and WG 26mm Datejust as well, again on Jubilee.

[The GMT Master]

Originally Posted by Carlos98326194

Thanks for the answer and this is an excellent thread.

Another one here,
It it true that staff from Rolex's ADs/RSC have an opportunity every year to purchase one at a big discount?

Hi Carlos,

I will be honest with you here, I don't know as I haven't been told, so I can't confirm or deny the rumours. Sorry on that one

[The GMT Master]

Originally Posted by 007Willster

Hello Chris - great thread!

Do you have any thoughts about your status as an Omega AD. Specifically, with Omega opening all of the boutique locations do you thing they will pull your AD status.

Also, how do your other brands, including Omega sell against Rolex in your shop?

Thanks again!
Mike
.

As far as I know, Omega UK's policy is different to Omega USA with regards to ADs. I don't believe there are plans to have a mass cull of ADs over here, but I get the impression that Omega is proportionally more popular here. There are several Omega dealers in the city I'm based, and I'd argue that we had the best positioning and possibly the best turnover. We consistently have the most varied range of watches, and we have a completely up to date range - one AD has watches in their window that have been discontinued for several years. I don't want to tempt fate, but I think we do enough in terms of positioning, shopfront, space dedicated to Omega and turnover of stock to keep them happy

Omega do sell very well indeed - in terms of numbers of watches sold, they're comparable to Rolex, although the turnover figures will be lower (simply due to price points). Our biggest seller in the range is the Black Bond-style SMP 300m full-size quartz - it's at an attractive price point, and has a great feel on the wrist, especially compared to other brands around the £1300 mark. The Planet Ocean is another bestseller. Omega also consistently outsell our other brands, they're certainly an asset to the store

[The GMT Master]

Originally Posted by Fiery

Fantastic thread! Thank you for answering all those questions, Chris.

Here's another one: you explained how the Sub-C and new Explorer is doing, but what about the DJ II? It seems to be less popular on this forum than most Rolex models, and even on the sales corner they move slowly. Apparently it suffers a lot of depreciation when going 2nd hand, so I'm wondering how sales are going about it? Do you sell more of the WG/SS model than of the TT? Do you have to discount it more than 10% to move them? Which particular DJ II dial choice is the top seller? I'd say the black sticks WG/SS, but maybe I'm completely off :)

Thanks again for taking the time answering the questions.

The Datejust II isn't a big seller, I'll admit that - I never expected it to be a wild success, firstly because it is quite a niche watch, and secondly, because it has quite a big price tag. We have sold a few though - oddly, the TT model has been going a bit better. The baton dials seem to be quite in demand (especially the black on the SS/WG), and the black arabic on the two tone gets quite a few enquiries too. As for discount, we've sold most at full price, and a couple at discount, although I don't know if we've gone as high as 10%

[Alcan]

Great thread Chris, and thank you for taking the time to field all the questions.

There used to be a set of reference cards or booklets entitled Rolex Talking Points,outlining the features of the various models for AD staff. Are they still being used?

And the burning question....... the Rolex wall clock. Are they supplied by Rolex or do they have to be purchased by the AD? I was at my AD the other day and noticed their clock was gone. I was told it had fallen off the wall and that it was A: really heavy, and B: really expensive.

cheers,

Al

[SC11]

Originally Posted by Dan2010

You could always put off getting married and buying a house! You do have choices you know....

Too late already married !

:-)

But yeah sod the house WG Daytona and AMG instead...

[Fiery]

Thanks for the answer

I have a few more for you if you don't mind. As for age groups, what would you say the most buyers come from? Is Rolex purchased mostly by people over 30? Or the majority of buyers are over 40?

As for women coming to the store and trying on Rolex watches, do you see a difference in their ages than compared to women who come in to try on Omega or other brands? Can one say Rolex ladies' models mostly just attract women over 35-40? I'm asking this because even though I love Rolex watches, my wife (who's 29) says Rolex ladies' models look boring and "maybe I'll like them when I'm over 40". I don't agree with her about such an agish comment, but I have to agree about Rolex lacking dynamic and fashionable models. I suppose introducing the colourful Daytona leather straps and exotic dial colour choices are because Rolex noticed that issue.

If Rolex watches tend to attract people over 30, do you see a change in that trend since the revamping of Rolex models, so let's say since 2005? Do the supercase and ceramic bezel help to widen the Rolex customer base?

[baxta69]

Originally Posted by NMS75

Thanks for your answer - I would love to see Tudor on sale in the UK (even if it was limited). I feel Rolex is missing a trick here to be honest.

Just out of interest what is the best selling Rolex model and which struggles the most?

M

They used to sell Tudor in the Uk late 70s early 80s so why did they stop? I remember seeing them in a shop window in Kingston alongside Rolex.

[The GMT Master]

Originally Posted by Alcan

Great thread Chris, and thank you for taking the time to field all the questions.

There used to be a set of reference cards or booklets entitled Rolex Talking Points,outlining the features of the various models for AD staff. Are they still being used?

And the burning question....... the Rolex wall clock. Are they supplied by Rolex or do they have to be purchased by the AD? I was at my AD the other day and noticed their clock was gone. I was told it had fallen off the wall and that it was A: really heavy, and B: really expensive.

cheers,

Al

Hi Al,

The talking points booklet is still knocking around, but it's hideously outdated now, and not particularly useful, apart from getting a very, very basic overview of the models. I've recommended that my work associates come to me or the bosses instead of referring to it - I've actually been working on my own model guide for staff to use that goes into a bit more detail than the official Rolex publication. Still a work in progress though!

Not sure about the wall clock though - I think an AD probably would have to purchase it. We don't have one at our shop as the layout doesn't really lend itself that well to having a clock on the wall. It's a question I'll put to my boss though, see if he knows anything more about it

[The GMT Master]

Originally Posted by Fiery

Thanks for the answer

I have a few more for you if you don't mind. As for age groups, what would you say the most buyers come from? Is Rolex purchased mostly by people over 30? Or the majority of buyers are over 40?

As for women coming to the store and trying on Rolex watches, do you see a difference in their ages than compared to women who come in to try on Omega or other brands? Can one say Rolex ladies' models mostly just attract women over 35-40? I'm asking this because even though I love Rolex watches, my wife (who's 29) says Rolex ladies' models look boring and "maybe I'll like them when I'm over 40". I don't agree with her about such an agish comment, but I have to agree about Rolex lacking dynamic and fashionable models. I suppose introducing the colourful Daytona leather straps and exotic dial colour choices are because Rolex noticed that issue.

If Rolex watches tend to attract people over 30, do you see a change in that trend since the revamping of Rolex models, so let's say since 2005? Do the supercase and ceramic bezel help to widen the Rolex customer base?

The more questions the better

With regards to demographics, for gents, it's quite a mixed bag. Certainly we do get a lot of guys in their 30s and 40s buying, but we do get quite a lot of younger guys in as well. There seems to be a universal appeal on the gents line, no matter what age, there's a Rolex for everyone.

For women, the range is slightly more conservative, and does appeal for a slightly older demographic, mainly 30s/40s upwards. Saying that, though, some younger women are looking at the full size gents watches as well, although the big watch trend hasn't completely taken off where I work. The new models Rolex have brought out for ladies does seem to be aiming at a younger demographic, especially the 31mm and 36mm ladies' models.

The new sports models have definitely widened Rolex's appeal - the ceramic GMT and Sub have been getting a lot of attention from younger guys. The perception that Rolex is a bit old fashioned is definitely changing: the Milgauss, Datejust II, GMT IIc and Sub-C are leading the way for the younger demographic

[jackdog]

Chris, this is a great thread...thanks.

One quick question, I've always wondered....on average, how many Rolex would an AD sell in a month? I know this depends on the size of the shop and catchment area. My local AD is in a fairly small market town and I can't imagine they sell many watches per month. Thanks

[The GMT Master]

Originally Posted by jackdog

Chris, this is a great thread...thanks.

One quick question, I've always wondered....on average, how many Rolex would an AD sell in a month? I know this depends on the size of the shop and catchment area. My local AD is in a fairly small market town and I can't imagine they sell many watches per month. Thanks

There are a lot of variables, but we sell about 90-100 in a good year. We always sell more around Christmas, but 6-8 per month on average, I'd say

[jackdog]

Thanks Chris, I would imagine my little AD will be less than that!

[Fiery]

Originally Posted by The GMT Master

The more questions the better

Thanks But since you asked for more, here's a last one for today from me: as a salesperson, if you could make a new Rolex dial choice or a new watch model, what would you request Rolex to create? Or, in other words: is there a particular watch model that customers would like to see? Do you get such comments from potential buyers, e.g. "I would buy the GMT IIC if it had a Pepsi/Coke ceramic bezel" , or "I'd buy the Sub if it had a blue dial variant", or "I'd buy the Day-Date if it had a cheaper version", or "I'd buy the Sub if it had a Rolex rubber strap option", or "I'd buy the Daytona if it had a date feature".

[The GMT Master]

Originally Posted by Fiery

Thanks But since you asked for more, here's a last one for today from me: as a salesperson, if you could make a new Rolex dial choice or a new watch model, what would you request Rolex to create? Or, in other words: is there a particular watch model that customers would like to see? Do you get such comments from potential buyers, e.g. "I would buy the GMT IIC if it had a Pepsi/Coke ceramic bezel" , or "I'd buy the Sub if it had a blue dial variant", or "I'd buy the Day-Date if it had a cheaper version", or "I'd buy the Sub if it had a Rolex rubber strap option", or "I'd buy the Daytona if it had a date feature".

Oo, I like this question. I would request the addition of sapphire case backs as an official option - a lot of watch brands do them as a matter of course now, and it seems a shame to keep the movement hidden away. I would also suggest expanding the lady's sports watch range, and, like any GMT enthusiast, the return of bi-colour bezels. I can't think of any requests I've had from customers themselves, but I think all of the above would help improve the range further

[GolfPunk]

What is the official UK waiting list for a Daytona S/S?

Thanks.

[NMS75]

Chris

What is the supply like for the new SS SubC? Not that I am looking to buy one right now but say I came in to you AD on Monday and told you I wanted to purchase one how long would I expect to have to wait for one to be available?

M

[The GMT Master]

Originally Posted by GolfPunk

What is the official UK waiting list for a Daytona S/S?

Thanks.

It depends on individual stores. The big chains operate a national waiting list policy, whilst independents will be based on the supply to one store. To give you an idea, we have about 30 to 40 names on the list, mainly biased towards white dials. As for time in terms of years, it's a bit convoluted, but could be anywhere between 4 to 8 years - however, that's based on everyone taking one when it's their turn, and this isn't always the case. For example, no one wants the most recent black-dial Daytona we've received, it's proving hard to sell