ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
25 March 2019, 02:00 AM | #31 | |
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Adding to this Rolex can also institute a strict registration regime at the AD point of sale to register every watch sold. Cross referencing the registration data with any warranty repair requests and Rolex will have a very effective control of how its watches flow. |
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25 March 2019, 02:03 AM | #32 |
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Folks in hot real estate markets are familiar with the idea that a seller will list a property way under market price to generate a bidding frenzy and sell for top dollar. Rolex is doing the same with most of their professional series watches.
Raise the MSRP to $30k on an SS Daytona and $15k on a Sub and watch half this forum realize Rolex is not in their budget (the way they already view AP or Patek). Omega and Breitling get more of the “budget luxury” share, and Rolex moves up market. The drama and angst over this is just another example of the entitlement mentality. “I want a Rolex, and I want it cheaper than the market says it’s worth. Rolex and their ADs owe it to me.” Boo-hoo.... |
25 March 2019, 02:04 AM | #33 | |
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I agree and it makes total sense. I have seen a lot of less desirable rolexes for sale through Greys that are NIB. Now why would a grey dealer be selling so many floral/pink rolexes that are brand new..they had to come from an AD together with the NIB BLROs and Subs Sent from my iPhone using Tapatalk
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25 March 2019, 02:07 AM | #34 | |
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25 March 2019, 02:07 AM | #35 | |
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25 March 2019, 02:12 AM | #36 |
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I don't understand how anybody can support the Greys at those premiums.Premium is one thing, but 200% more on MRSP ?
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25 March 2019, 02:16 AM | #37 | |
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I have an issue when people deal hunt secondary dealers for certain watches and then vilify them when they sell other ones at a premium. They consistently sell at one price.... market price, always Their behavior discount shopping contributes to the problem of bypassing AD's. buyers are as guilty as anyone.
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25 March 2019, 02:20 AM | #38 | |
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If Rolex is serious about dealing with the AD-Grey nexus situation and alleviating frustration of buyers, then they must be responsive and shift production away from profitable (for Rolex, not AD's) datejusts to models that would make lives of AD's easier. But sadly, Rolex doesn't want to change their ways and they just want to strong-arm AD's, and the market, into submission. I am waiting to see what the Audemars Piguet official pre-owned program to begin and what it might do to the sub-US$20,000 watch market. But as Mr Bennahmias said, quantities will be low at the beginning and much will depend on the number of pieces they can get, refurbish, and turnaround to the market. |
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25 March 2019, 02:24 AM | #39 | |
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25 March 2019, 02:31 AM | #40 | |
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25 March 2019, 02:33 AM | #41 |
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25 March 2019, 02:34 AM | #42 |
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Rolex has no interest in shutting down the grey market.
They will never officially acknowledge it and will publicly condemn it, but in reality it is an important sales channel for them that also serves a promotion function in their marketing strategy, especially since Rolex has controlled the pricing through limiting distribution on SS sports references. When the grey market pricing is above retail, the grey market is a manufacturers best buddy, when grey market pricing is much lower than retail, it is an enemy to be feared. As was stated earlier, the play between relatively low key retail pricing and higher grey market pricing feeds FOMO and that drives sales across the brand. This has been going on with the hypebeast scene for years...it is very, very effective. As for AD's distributing to the grey market, they most certainly do...in different ways.. There are the scenarios involving "gentleman" or "broski" dealers who sell off their instagram accounts. They don't actually have any of these watches in their hands, but take the order and then get the watch from an AD that they have established a relationship with..in exchange for buying it above retail and passing it on to their "client" or buying some lower popularity models from the AD at a discount to keep their stock moving.. The other model is that the AD is simply a Rolex co-distributor for the grey market. I believe that this is more prevalent in the Asian markets. The AD moves the bulk of their lower priced Rolex references in a big bundle purchase to grey dealer(s). These references are just not worth the AD's time to deal with. The $$$ is too small compared to PM, custom diamond references and their jewelry business to big clients. The lower priced stuff can go to the grey market and let the plebeians and tourists fight over them on the street. No wait lists or hassles to deal with. |
25 March 2019, 02:36 AM | #43 |
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25 March 2019, 02:44 AM | #44 |
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DJ sell and are the biggest sellers obviously but they are also oversupplied at the same time. The sheer number of configurations is mind boggling. What you see in an AD which is a lot is probably a small number of what they have to try to sell and they already clearly have plenty. A lot of those get moved to secondary dealers no doubt. a lot of everything does.
No way rolex can actually sell a million watches a year to end customers at retail prices in the current product mix. It isn't happening. But next year those AD's are still getting that million watches worth of production, and the next, and the next, and the next
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25 March 2019, 02:44 AM | #45 |
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25 March 2019, 03:01 AM | #46 |
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You like it?
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25 March 2019, 03:13 AM | #47 | |
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A side note, I went through the Hongkong airport five times during the first two months of this year. I really wanted to buy at the airport AD because it will close soon to make way for a Chanel store. But the only Daytona for sale was the ice blue Daytona (it had been there since Christmas and remain unsold as of the 10th March) and countless Dayjusts and Day-dates. |
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25 March 2019, 03:21 AM | #48 |
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Rolex luvs the grey market..even though it pretends not to..lol..
Greedy Rolex..will do anything for cash-ola..anything.. Including artificial promulgation of a "status symbol" and "limited supply"..for the people that will believe such..and pay far over retail ..even though it makes no sense.. Rolex is laughing all the way to the bank.. Sucka's...hahaha... |
25 March 2019, 03:34 AM | #49 | |
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25 March 2019, 03:35 AM | #50 | |
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25 March 2019, 03:44 AM | #51 | |
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I remember seeing the sheer number of Hongkong-sourced BNIB Daytona C and other hot models for sale at grey dealers at Nakano Broadway in Tokyo made me sick. I'm glad Japanese customs have begun to crack down on this recently. |
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25 March 2019, 03:45 AM | #52 | |
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25 March 2019, 03:49 AM | #53 |
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Kind of reminds me how pirates were tolerated back in the Golden Age of Piracy.
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25 March 2019, 03:53 AM | #54 | |
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Its like saying the IRS wouldn't notice if i claimed 200k in charitable contributions on a 75k salary. Its impossible those watches go somewhere for sure and always have. They also have a wealthy population who buys a lot of watches, but its not that big this entire grey market argument then hinges on Rolex in Geneva not thinking something is off with these numbers. HK is the most obvious example because of its small population and huge amount of watches going there.
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25 March 2019, 06:09 AM | #55 | |
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25 March 2019, 06:29 AM | #56 | |
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As regular consumers. We will require the receipt for the exact amount pay for insurance purposes and among other things. Hope this answers your questions. |
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25 March 2019, 07:44 AM | #57 |
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ADs supplying the Grey dealers
As an exercise, I’d suggest folks call dealers for AP, Patek, Richard Mille and ask them to buy a very desirable watch now or soon and see what happens.
Now that you’ve confirmed for yourself that this is not a Rolex/gray market/evil trusted sellers issue - it exists across all popular luxury watch brands... Repeat the experiment by calling all the Hermès dealers you can find, and ask them to buy a Birkin or Kelly in desirable leather/color and see what happens... Now we’ve confirmed it spans multiple areas of fashion/jewelry. Repeat by calling Porsche, Ferrari, etc and ask them to by a desirable/new release model... Now you better understand the luxury market. Finally, before writing a long whining diatribe about how the world is so unfair to you, the maligned luxury product would-be buyer, spend a few minutes considering that you’re not being denied food, shelter, clothing or other necessities. Your outrage is about a luxury bauble. Now you hopefully have gained some reasonable perspective. |
25 March 2019, 11:53 AM | #58 | |
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Rolex is also not Porsche or Ferrari. Rolex is Mercedes-AMG at best. But yes, what we are facing is an existential first world problem : ) |
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25 March 2019, 01:48 PM | #59 | |
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Nailed it |
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25 March 2019, 02:11 PM | #60 |
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10000% agreed. If it was like this in the 1990s I'd probably done more car stuff. For me, most exciting thing of 2019 is the Seiko Alpinist. Weird, right? Rolex seriously needs to reconsider a small part of their business model away from dealers and go direct for certain pieces. I know that might sound a little crazy, yet we live in crazy times for mechanical timepieces. JMHO
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