Reason for shortage !

[Podmornica]

Yeah, none of us is surprised. What surprises me is that there are still some suckers out there willing to pay 124,000 HKD ~ $16.000 for BLRO in this climate as seen in the photos.

[Xerxes77]

Thank you for sharing.
I think this is not new to any watch enthusiast.
But this is the proof.

[Tavli3]

What's surprising is how so in your face this is. Greys buying watches then selling them down the street still in their coffins! Goes to show you Rolex has no real intention of stopping this as the inflated prices boosts the image and desirability of their product.

They do use this as an excuse to shut down ADs that they feel are no longer worthy of their franchise.

So when this grey bought all these watches in one shot whose name were on the warranty card or do the greys have a Rolex tablet to swipe the warranty cards too? Wouldn't doubt it.

[Nairn1980]

yup. no surprises here sadly.

[watchwatcher]

Originally Posted by garyk

Obviously from before the Virus?!

That's what I was thinking, too, but the guy clearly mentions 'Easter' in the video, so that seemed odd. Hmmm....

[77T]

Originally Posted by watchwatcher

That's what I was thinking, too, but the guy clearly mentions 'Easter' in the video, so that seemed odd. Hmmm....

The video footage could have been taken at anytime in the past. He’s doing a voiceover that could have been done the day he uploaded. The same way he sliced in the “secretly” recorded the convo with the grey dealer (which also could have been done anytime in the past).

The YT vlog is weak in any proof.


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[hamachikanashiro]

Originally Posted by 77T

The video footage could have been taken at anytime in the past. He’s doing a voiceover that could have been done the day he uploaded. The same way he sliced in the “secretly” recorded the convo with the grey dealer (which also could have been done anytime in the past).

The YT vlog is weak in any proof.


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huh? the video footage is real.

funny too i was at that grey shop 2 weeks ago. in fact the same voice tried to talkt to me (think hes the only one who can seak english in that shop) when i was browsing.

[77T]

Originally Posted by hamachikanashiro

huh? the video footage is real.



funny too i was at that grey shop 2 weeks ago. in fact the same voice tried to talkt to me (think hes the only one who can seak english in that shop) when i was browsing.

Of course it’s real video. But there is no way to know if it was taken in the claimed timeframe - could have been video shot months earlier and dubbed with the voice over.

I’m skeptical that’s all - the whole purpose of the YT rant was to get clicks. He has unearthed nothing new or consequential.


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[ninjin]

Originally Posted by watchwatcher

That's what I was thinking, too, but the guy clearly mentions 'Easter' in the video, so that seemed odd. Hmmm....

There is no lockdown in HK.

[davidgilmore]

Very interesting. Thanks for posting.

[Onikage]

Upmarket store, fancy decor, plush furniture, elephant sounds.. and all they have is a couple of Datejusts..

[hamachikanashiro]

Originally Posted by watchwatcher

That's what I was thinking, too, but the guy clearly mentions 'Easter' in the video, so that seemed odd. Hmmm....

its during the virus now.
HKG is not locked down.
i too went grey rolex window shopping over easter

[Highlatitude]

My experience of Rolex shopping in HK is that a large proportion of the stock being sold as new comes with a European AD’s warranty card. Lots of ADs think that if it is shipped abroad it’s less likely to be traced back to them. The reality is that any time Rolex want to, they can trawl through the greys and see who is supplying them. Rolex just don’t care enough to do it. This is the reason that Rolex have taken a huge drop in reputation. People are tired of their not caring about customers and they are completely tired of the ADs and their attitude.

Buying a Rolex is the opposite of a luxury experience, it is often seedy and humiliating.

[Yess]

Originally Posted by Highlatitude

My experience of Rolex shopping in HK is that a large proportion of the stock being sold as new comes with a European AD’s warranty card. Lots of ADs think that if it is shipped abroad it’s less likely to be traced back to them. The reality is that any time Rolex want to, they can trawl through the greys and see who is supplying them. Rolex just don’t care enough to do it. This is the reason that Rolex have taken a huge drop in reputation. People are tired of their not caring about customers and they are completely tired of the ADs and their attitude.

Buying a Rolex is the opposite of a luxury experience, it is often seedy and humiliating.

Not sure about the "huge drop in reputation" - from what demographic?

Not being able to walk in and buy an item does one thing: raises the exclusivity of the item in the eyes of the general luxury brand buyer. It drives up reputation, it doesn't diminish it.

[Highlatitude]

Originally Posted by Yess

Not sure about the "huge drop in reputation" - from what demographic?

Not being able to walk in and buy an item does one thing: raises the exclusivity of the item in the eyes of the general luxury brand buyer. It drives up reputation, it doesn't diminish it.

The lack of availability has forced people to buy watches from greys, with worries about authenticity or watch history or go to an AD and haggle a deal, buying watches they don’t want or need to get a place on the list that may or may not exist. Many ADs have a horrible attitude to customers. Where’s the exclusivity in that? Or has making deals like you are a second hand car trader suddenly become reputation enhancing?

Those are the facts. People are tired of it. Rolex has suffered a significant drop in reputation. The real World is not the same as Instagram.

[sgwatchguy]

Originally Posted by Highlatitude

The lack of availability has forced people to buy watches from greys, with worries about authenticity or watch history or go to an AD and haggle a deal, buying watches they don’t want or need to get a place on the list that may or may not exist. Many ADs have a horrible attitude to customers. Where’s the exclusivity in that? Or has making deals like you are a second hand car trader suddenly become reputation enhancing?

Those are the facts. People are tired of it. Rolex has suffered a significant drop in reputation. The real World is not the same as Instagram.

No one is forced to buy a watch from greys - they make a choice. These are lux goods, not necessities. There are a number of very compelling watches available for the same or lower prices, and people can choose to give their money to those brands happily and without frustration.

Rolex financial performance as being reported suggests no impact to their reputation and ability to sell more watches. In fact, the brand just got rates by a brand consultant as having gotten even stronger. I believe that’s the true world outside IG since money talks.


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[Highlatitude]

Originally Posted by sgwatchguy

No one is forced to buy a watch from greys - they make a choice. These are lux goods, not necessities. There are a number of very compelling watches available for the same or lower prices, and people can choose to give their money to those brands happily and without frustration.

Rolex financial performance as being reported suggests no impact to their reputation and ability to sell more watches. In fact, the brand just got rates by a brand consultant as having gotten even stronger. I believe that’s the true world outside IG since money talks.


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I never said they were necessities, but if your suggestion is to buy another brand if you don’t want to risk greys, then you have made my point for me.

Current financial performance does not equal reputation. Anyone with a good brand name can make a lot of money whilst damaging their brand. The financial performance of the future will measure how regarded the brand is becoming now.

[GMTLV]

Originally Posted by Yess

Not sure about the "huge drop in reputation" - from what demographic?

Not being able to walk in and buy an item does one thing: raises the exclusivity of the item in the eyes of the general luxury brand buyer. It drives up reputation, it doesn't diminish it.

Having thousands of your watches sold online and at back-alley stores does not exactly emit an image of exclusivity and luxury for Rolex.


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[GMT Aviator]

Originally Posted by GMTLV

Having thousands of your watches sold online and at back-alley stores does not exactly emit an image of exclusivity and luxury for Rolex.


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What he said.

[sgwatchguy]

Originally Posted by GMTLV

Having thousands of your watches sold online and at back-alley stores does not exactly emit an image of exclusivity and luxury for Rolex.


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It’s no different for hot Hermès and Chanel bags or PP and AP watches.


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[GMTLV]

Originally Posted by sgwatchguy

It’s no different for hot Hermès and Chanel bags or PP and AP watches.


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I agree. Desirable items are becoming assets to be traded for profit without the need for the traditional distribution channels and the luxury experience anymore. I just wonder what the long term impact on these brands and their AD’s will be. Will AD’s stop having boutiques and become warehouses where greys come to replenish their stock? Will consumers have to buy only from greys? What if the market collapses and the greys start slashing prices, will Rolex still not care?


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[iliketime]

not surprising, rolex has always been highly popular in Hong Kong

[beshannon]

I agree with the thread but clearly there is no shortage at all.

Where the stock is located is another matter entirely created by Rolex

[Geckobros]

Rolex is a brand that I admired when I was growing up. I became successful and marked special occasions with a purchase. I then began collecting Rolex.

Today — It’s the AD games, back door deals and the unwillingness of Rolex to change their purchasing model that has me rethinking what Rolex really stands for. The brand image certainly has changed over the years.

[Ensign]

Originally Posted by Geckobros

Rolex is a brand that I admired when I was growing up. I became successful and marked special occasions with a purchase. I then began collecting Rolex.

Today — It’s the AD games, back door deals and the unwillingness of Rolex to change their purchasing model that has me rethinking what Rolex really stands for. The brand image certainly has changed over the years.

Well put.

Rolex is showing no concern for “traditional” customers; by traditional customers I mean ordinary buyers. That may affect the brand in the long term.

Now if professional Rolexes are some sort of product that is to be shuffled out to “grey” dealers later to be sold to investors - who only see $$$ in those watches, I wonder how many buyers will distance themself from the brand.

Are Rolex professional models still watches or has it become a shady financial commodity?

[Calatrava r]

Originally Posted by Geckobros

Rolex is a brand that I admired when I was growing up. I became successful and marked special occasions with a purchase. I then began collecting Rolex.

Today — It’s the AD games, back door deals and the unwillingness of Rolex to change their purchasing model that has me rethinking what Rolex really stands for. The brand image certainly has changed over the years.

What is the Rolex purchasing model that they are unwilling to change? As far as I know, Rolex has always sold to their product to their ADs who then retail the watches. Rolex can suggest best practices but who the ADs sell to is up to the ADs. A change would be wholly company owned boutiques but even those retail buyers can re-sell for profit to the used watch market sellers. Until supply and demand stabilize, the sought after watches will end up going through multiple hands to be finally retailed at the then market price.

[Quamby]

The AD's and greys in Hongkong have had a rough time for the last three months. One of the games they are playing to get around the official 'no markup rule' is to sell via 'greys' on Facebook, instagram, and other social media platforms. I say 'greys' because sometimes these middlemen are not actually grey dealers but a friend/relative of an AD or of an AD sales manager. The 'grey' middleman will post on Facebook of what is available (and the marked-up price) and then bring the buyer to the AD where the buyer will pay the 'grey' middleman in cash (no credit cards accepted 90% of the time) on the spot once the watch is presented and everything checks out. The cash (the official Rolex AD price minus the mark-up) is then paid to the AD.

Depending on the real identity of the middleman, most of the mark-up is pocketed by the AD and only a little goes to the AD Manager and the 'grey' who facilitated the sale.

[bondtoys]

This has been going on for decades like that.

Many HK grey dealers had their watches from Europe - which is not possible now because there are no flights. So I guess that most HK greys now have HK market watches.
If Rolex HQ would really be interested in drying out the grey market, they could just ho there, buy some watches and pull AD Status from the AD on the certificate.

I‘ve been at HK greys and have seen hundreds of warranty cards from most major cities all over Europe ( he was seeking for a certain one and put the carton with the warranty cards on the table).

But I guess that pulling AD status from TSF would be even hard to swallow for Rolex.

[MariettaMike]

I'm shocked! Shocked, that this underhanded business is going on to such a prestigious brand. Would not be surprised that many Grey Dealers are former AD's gone rogue.

What's it about? $$$ Always.


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[atique]

Originally Posted by MariettaMike

I'm shocked! Shocked, that this underhanded business is going on to such a prestigious brand. Would not be surprised that many Grey Dealers are former AD's gone rogue.

What's it about? $$$ Always.


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It’s so sad
Even in Canada all the ADs do it.
They sell every watch to the grey marketeers
To name them it’s Rafi jewelers
They have never had a single SS model in there shop and all the grey marketeers have stacks


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