ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
27 May 2020, 05:18 AM | #211 | |
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Thanks God I work with the 1%, all high end businesses. Appreciate your comments always! Nacho Sent from my iPhone using Tapatalk Pro |
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27 May 2020, 05:36 AM | #212 | |
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I can't vouch for the accuracy of the statistics but according to this, in 2018 about 74% of Rolex owners had net annual income less than $120,000. This seems right. That means the "bubble" for steel sports watches is driven largely by people who are not "wealthy" as most would understand the term, and who are likely impacted by the current economic crisis. |
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27 May 2020, 06:09 AM | #213 | |
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This would leave 26% of their customer base that is "wealthy", making more than $120k per year. I assure you that's more than enough people to influence the pricing for SS sports models, purely on their own. Unless there is a breakdown of who is buying what, I am not sure this tells us anything. I'd guess (and it is purely a guess) that the mere mortals among us that have annual income below $120k/year are buying more available models and relatively few "hot" models. But, I don't know. |
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27 May 2020, 07:24 AM | #214 | |
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I understand that at this forum some stainless steel sports models are a favorite topic of discussion, but I don't think those few models comprise much of Rolex company or Rolex AD business. |
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27 May 2020, 07:28 AM | #215 | |
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27 May 2020, 07:56 AM | #216 |
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Most of them will have had a Rolex or a status watch/things while they were on the way up as a signifier, then they show their next level status by being "above" those trinkets, just like inherited wealth guys are blase and sniffy about showing their wealth and yet their grandfathers were probably doing anything both within and out of the law to get ahead. All swings and roundabouts on the greasy pole of life.
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27 May 2020, 08:02 AM | #217 | |
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27 May 2020, 08:25 AM | #218 |
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I work with high net worth individuals selling a discretionary product and business has been dead for 10 weeks. And my business had 10 straight years of terrific growth. So, I have to believe luxury watches will take a hit too. There is no way to escape that fact. Rolex can limit supply, or act in whatever manner it chooses to create whatever aura it needs to create. Bottom line is that watches should be available for less money in a recession than during a bull market. People are choosing to not spend money today. There is a pervasive wait and see mindset.
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27 May 2020, 08:56 AM | #219 | |
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I’m not sure that I agree here. Even during the advent of the tool watches you were still dealing with likely higher income consumers. Pilots, scientists, divers, mountain climbers, among others. Today, I think Rolex has moved from being a tool, to being a rugged luxury item. I think a great analogue here is a Land Rover. Some are still used for their durability in tough areas, but most never leave paved roads. |
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27 May 2020, 09:25 AM | #220 | |
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28 May 2020, 06:29 AM | #221 | |
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OK not all sub$120k wage earners will loose interest in buying expensive watches, but will be offset by the lack of flippers. At the moment, we are in the midst of a party zone. Beaches are packed, the sun is out. Wage earners are feeling wealthy as they aren’t spending. Millions of people are at home, having wages paid by the state. But once those govt handouts end... We know greys aren’t buying, which means the ADs will have to sell to the public. So with more watches to sell in showroom and far fewer customers, simple supply/demand laws suggest waiting lists will evaporate |
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28 May 2020, 06:57 AM | #222 |
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The waiting lists might still continue, but the gray prices are definitely melting ..
I like the headline - "Lowest price ever" https://www.chrono24.de/rolex/gmt-ma...id13095017.htm |
28 May 2020, 07:00 AM | #223 |
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I sell a cars for a living, I won’t mention the brand. I have taken a few orders whilst working from home over lockdown but since the weekend the enquiry rate has risen dramatically. I sold 3 cars on Tuesday afternoon and they aren’t cheap, all 50k plus. It’s not what I expected and don’t know if and how long it will last. It just proved to me that people are willing to make expensive purchases.
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28 May 2020, 07:07 AM | #224 | |
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