Ask an Insider Thread

[The GMT Master]

Hey all,

Just thought I would extend an invitation for anyone to ask questions about any aspects of an AD. I've been in the trade for a few years now, and whilst I can't claim to know absolutely everything, I know enough to answer most questions. So, fire away, I look forward to answering your queries!

Chris

[MonBK]

What's the name and address of the shop?

[Colnago]

I already ask you questions anyway, Chris....an invitation to ask more...wow...seriously, nice gesture, there must be lots of folk who have questions....good on you and all the best for the coming season (not too many hangovers though eh?)

[The GMT Master]

Originally Posted by Colnago

I already ask you questions anyway, Chris....an invitation to ask more...wow...seriously, nice gesture, there must be lots of folk who have questions....good on you and all the best for the coming season (not too many hangovers though eh?)

Cheers Bill, and the same to you too!

[Kanger]

Is the 60% of MSRP rate for ADs true, and that it's 58% if paid within 30 days. What percent of MSRP do ADs pay for other brands like Omega, TAG, Breitling, IWC, Jaeger, or any brand you have knowledge of. Thank you!

[NMS75]

Is Rolex bringing out a new non-date version of the SubC.

If you can answer that one I will be impressed!

M

[The GMT Master]

Originally Posted by kanger

Is the 60% of MSRP rate for ADs true, and that it's 58% if paid within 30 days. What percent of MSRP do ADs pay for other brands like Omega, TAG, Breitling, IWC, Jaeger, or any brand you have knowledge of. Thank you!

I'm just a lowly salesman, so I'm not involved with buying stock, but I do believe it is 60% of MRSP. Can't say about the extra discount being given for payment within a month, I'm afraid. Going on instore policies, the margins do seem to be tighter on Rolex compared to other brands we deal with (Omega, Chronoswiss, Raymond Weil). Sorry it isn't a complete answer, but hope it helps

[The GMT Master]

Originally Posted by NMS75

Is Rolex bringing out a new non-date version of the SubC.

If you can answer that one I will be impressed!

M

Rolex are always very, very quiet on whether a new watch is coming out - the standard answer is wait 'til Basel. As for my personal opinion, I think some kind of update is desperately needed for the 14060m - even if it was just putting a solid link bracelet w/ Glidelock. It is one of the more difficult sports watches to sell at present

[NMS75]

Originally Posted by The GMT Master

Rolex are always very, very quiet on whether a new watch is coming out - the standard answer is wait 'til Basel. As for my personal opinion, I think some kind of update is desperately needed for the 14060m - even if it was just putting a solid link bracelet w/ Glidelock. It is one of the more difficult sports watches to sell at present

I hope they do a non-date SubC - would be a real shame IMHO if they didn't. I think it would be a popular watch if one was to be developed.

M

[Bisquitlips]

Here's one Chris.

How often does an AD actually get audited by Rolex? Is it a regular timed audit, or random.

I would think that Rolex would never audit an AD unless they had suspicions that warranted it, but thus the question.

[The GMT Master]

Originally Posted by NMS75

I hope they do a non-date SubC - would be a real shame IMHO if they didn't. I think it would be a popular watch if one was to be developed.

M

Agreed. It would be a shame to let such an iconic watch fall by the wayside

[chrisshank]

I know that ADs need to make a profit and am totally for that, but what kind of discount would you consider to be generous and reasonable for the SubC LV or other SS models. Also for the TT GMTIIC?

Thanks so much for providing us with this opportunity!

Chris

[The GMT Master]

Originally Posted by Bisquitlips

Here's one Chris.

How often does an AD actually get audited by Rolex? Is it a regular timed audit, or random.

I would think that Rolex would never audit an AD unless they had suspicions that warranted it, but thus the question.

That's a good question Richard. As far as I'm aware, we haven't been formally audited by Rolex - we get regular visits from a sales rep, so I would presume they'd be given updates by us. I suppose they could keep tags on us as well with regards to how many watches we take on allocations too, so hopefully we haven't been drawing any negative attention to ourselves! We get looked after well by Rolex, so we make sure we play by their rules

[The GMT Master]

Originally Posted by chrisshank

I know that ADs need to make a profit and am totally for that, but what kind of discount would you consider to be generous and reasonable for the SubC LV or other SS models. Also for the TT GMTIIC?

Thanks so much for providing us with this opportunity!

Chris

I'm getting into risky territory here! If possible, we avoid discounting watches, but if pushed, there is room for manouvre. For SS sports models, between 5-10% depending on the model/how long it's been in stock etc, for TT, a little more. There certainly isn't as much of a push to give massive discounts as there is in the US, but that might well be down to cultural differences

[NMS75]

Can Rolex ADs deal with Tudor watches or does Rolex treat the two brands completely separately in terms of who they allow to sell them?

M

[The GMT Master]

Originally Posted by NMS75

Can Rolex ADs deal with Tudor watches or does Rolex treat the two brands completely separately in terms of who they allow to sell them?

M

Officially, Tudor isn't sold in this country. In special circumstances, Tudors can be ordered from Rolex head office, but it is very rare. I know we've asked for a Tudor Heritage Chrono, but no sight or sound yet. I believe there are plans to reintroduce the brand into the country at some point in the future, it would make most sense if Rolex ADs with a proven track record were given first choice

[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

[Sixxgrand1]

Have you witnessed dust/lint/particles on the inside of the crystal or on the face of many Rolex? I ask because four of the last five Rolex which I purchased brand new from my AD all came with a special bonus inside the face/crystal.

My AD said that Rolex "was aware of it" and that they blamed the change in air pressure when they are flown from Switz which moves these little items from crevices into plain sight. I was under the impression that Rolex were watertight and thus airtight and figure that was just a line of BS and a poor excuse for bad Quality Control in that regard.

That being said I wonder why in owning 15+ other Breitlings, SINN, Ulysse Nardin, Omega, IWC - none of them had dust in the dial issues and I expect that they are flown to North America as well...

Do the AD's complete any QC on brand new Rolex from Switz or do you just unpack them and place then in the counter for sale?

Also do they look like this when they are shipped from Rolex (pic below)? Thus the green boxes are just for show / delivery right?

Kind thanks!

[The GMT Master]

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

If we're talking about broad family lines, then the Datejust is king - very solid seller, probably the best of the lot is the lady's two-tone DJ in its various forms. As for individual models, I would rank the steel Sub Date and GMT as top, with the steel Daytona following close behind

[Cru Jones]

thanks for this!

what's the approximate breakdown between customers that know the brand and ask intelligent questions and customers that simply want a fancy watch without knowing much of anything?

[Cru Jones]

double post....

[The GMT Master]

Originally Posted by Sixxgrand1

Have you witnessed dust/lint/particles on the inside of the crystal or on the face of many Rolex? I ask because four of the last five Rolex which I purchased brand new from my AD all came with a special bonus inside the face/crystal.

My AD said that Rolex "was aware of it" and that they blamed the change in air pressure when they are flown from Switz which moves these little items from crevices into plain sight. I was under the impression that Rolex were watertight and thus airtight and figure that was just a line of BS and a poor excuse for bad Quality Control in that regard.

That being said I wonder why in owning 15+ other Breitlings, SINN, Ulysse Nardin, Omega, IWC - none of them had dust in the dial issues and I expect that they are flown to North America as well...

Do the AD's complete any QC on brand new Rolex from Switz or do you just unpack them and place then in the counter for sale?

Also do they look like this when they are shipped from Rolex (pic below)? Thus the green boxes are just for show / delivery right?

Kind thanks!

I will be completely honest with you, I have never come across any lint inside the watch before. The watches all go to Rolex UK first, and they will have their own internal quality checks, and we trust their judgement. It is extremely rare for us to have any watches back under guarantee, and when they do, Rolex are truly great at sorting it out. I believe my boss gives the watches a once over when adding them to our stock system, but there isn't an in-depth check per-se as we've never really had any issues at all with minor cosmetic issues. It may be that Rolex UK are a little bit more thorough with QC. As for deliveries, they come ready packed in their presentation boxes - it means that boxes and paperwork can't get mixed up

[The GMT Master]

Originally Posted by Cru Jones

thanks for this!

what's the approximate breakdown between customers that know the brand and ask intelligent questions and customers that simply want a fancy watch without knowing much of anything?

A small group I would describe as WISes, we have one customer who's particularly knowledgable about a great deal of brands, I always really enjoy nattering with him. The broad majority have at least a basic knowledge of Rolex, but might not be up to speed with the more minor details - that's where I come in. Then a small number will have a Rolex simply because it's a Rolex, they're a bit more of a challenge to deal with as it's easy to overwhelm someone with information. As such, my sales pitch differs with different customers. For a breakdown of numbers, I'd probably say 10% WIS, 10% no knowledge, the rest basic to reasonably good knowledge

[mactrack]

Originally Posted by The GMT Master

Rolex are always very, very quiet on whether a new watch is coming out - the standard answer is wait 'til Basel. As for my personal opinion, I think some kind of update is desperately needed for the 14060m - even if it was just putting a solid link bracelet w/ Glidelock. It is one of the more difficult sports watches to sell at present

Are you still able to order the 14060M for stock? As on another forum someone was advised by a UK AD, high street chain so could be nonsense/sales pitch, that no more could be obtained from Rolex UK.

[Cru Jones]

Originally Posted by Cru Jones

thanks for this!

what's the approximate breakdown between customers that know the brand and ask intelligent questions and customers that simply want a fancy watch without knowing much of anything?

Originally Posted by The GMT Master

A small group I would describe as WISes, we have one customer who's particularly knowledgable about a great deal of brands, I always really enjoy nattering with him. The broad majority have at least a basic knowledge of Rolex, but might not be up to speed with the more minor details - that's where I come in. Then a small number will have a Rolex simply because it's a Rolex, they're a bit more of a challenge to deal with as it's easy to overwhelm someone with information. As such, my sales pitch differs with different customers. For a breakdown of numbers, I'd probably say 10% WIS, 10% no knowledge, the rest basic to reasonably good knowledge

Thanks, Chris!

[The GMT Master]

Originally Posted by mactrack

Are you still able to order the 14060M for stock? As on another forum someone was advised by a UK AD, high street chain so could be nonsense/sales pitch, that no more could be obtained from Rolex UK.

We received one on last month's allocation, but not on the allocation that arrived today - but that's not necessarily an indicator that you can't get hold of one anymore. We never have been offered one a month with the 14060M, it tends to be one every 2 to 3 months. So I will tentatively say yes, they are still available

[The GMT Master]

Originally Posted by Cru Jones

Thanks, Chris!

No problem

[Carlos98326194]

Thanks for this opportunity...
Is it true that AD sell some of their Rolex to grey shops/dealers just to meet the yearly quota of Rolex to stay being an AD?

[The GMT Master]

Originally Posted by Carlos98326194

Thanks for this opportunity...
Is it true that AD sell some of their Rolex to grey shops/dealers just to meet the yearly quota of Rolex to stay being an AD?

It may be true, but it's certainly not a practice the company I work for partakes in. Might be a question TRF's sellers could answer better

[DG123]

Chris,

I appreciate this opportunity.
On average, how many visits does a new Rolex customer make before he buys?
Does your shop do anything special to enhance the customers "AD experience", such as offering up a cup of tea or glass of water while shopping, or some kind of gift with purchase?
Do you notice there are clearly defined types of Rolex buyers, sports versus non-sports, or do most customers consider both categories?
If there was one particular customer purchase which stands out in your mind as a favorite, please share that story.

Originally Posted by The GMT Master

Hey all,

Just thought I would extend an invitation for anyone to ask questions about any aspects of an AD. I've been in the trade for a few years now, and whilst I can't claim to know absolutely everything, I know enough to answer most questions. So, fire away, I look forward to answering your queries!

Chris