One-time Rolex discount?

[champion5]

I have a friend that recently started working in a jewelry store. She says that after 90 days she will get a 50% and 10% off Tag Heuer ordered from tag so around 59%. I said that real nice but what can you get on Rolex? She said that Rolex offers a once in a lifetime discount to jewelry store employees that use their location code. She said she did not know the discount yet. She also said that when she purchases the Rolex they (Rolex) takes down all of her info so she can't skip around stores and get the "incredible" discount again? Anyone ever heard of this?

[Tools]

I've heard that many times.... but I don't know what the discount is...likely
Dealer cost...

For many sales staff though, it still isn't cheap......

[valentine]

yes. heard this before. and its dealer cost.

[champion5]

ok sounds good ill ask her what the discount is.

[B. Doggy]

....and if she doesn't want to utilize the opportunity, I'll do it!!

[Phil G.]

Anyone know what true dealer cost is on a Rolex? Or does it vary by model?

[moviefreak]

my guess is 40% to 50%....

[Phil G.]

Originally Posted by moviefreak

my guess is 40% to 50%....

More than I would have guessed. So there's significant margin for AD's even when they discount 10-20% on these watches.

[casadecamporolex]

This is a constant thread here. Basically, a Rolex that sells for $5000 US, costs $3000. No credit terms either.
Employees used to get a discount from cost but now is cost plus shipping.

[therolexguy]

Yes, I've heard of this also. I believe they do get to buy one at cost. From what I've gathered Rolex's mark-up is around 42%...but it could differ by each model.

[chazha]

I wish I have a friend like that!

[WatchTimes]

Differs by model, they can only utilize it one time.
The price was below dealer cost but this was a year or two ago.
Others who would know have said its dealer + shipping so Id believe that.

Also Rolex engraves the persons name on the caseback usually.

This discount is only meant for the employee not hooking up their friends and I think they would get in trouble if they just flipped the watch.

[gone-rolex-mad]

discount on rolex used to be around the 40% mark for certain store employees.

[Esquire]

Originally Posted by Phil G.

More than I would have guessed. So there's significant margin for AD's even when they discount 10-20% on these watches.

Well, the store does have fixed and variable costs, so they have to make a profit on the watch to stay in business. If they sold the watches at cost, it would mean the business would die within seconds. There might be an additional 20-30%, but consider how much of that goes to costs.

[cornerstore]

Originally Posted by JYogi

Differs by model, they can only utilize it one time.

This discount is only meant for the employee not hooking up their friends and I think they would get in trouble if they just flipped the watch.

Maybe you'll have to marry her to get that discount

[Art 1]

Yes, sales staff can purchase on Rolex with the discount.

[MilgaussMan]

. . . I feel . . . as though I want to go pick up an application.

[therolexguy]

Originally Posted by MilgaussMan

. . . I feel . . . as though I want to go pick up an application.

Me too.

[Naples09]

Does any know if other watch makers offer this same type of discount to AD employees?

[PeteNYC13]

Originally Posted by champion5

I have a friend that recently started working in a jewelry store. She says that after 90 days she will get a 50% and 10% off Tag Heuer ordered from tag so around 59%. I said that real nice but what can you get on Rolex? She said that Rolex offers a once in a lifetime discount to jewelry store employees that use their location code. She said she did not know the discount yet. She also said that when she purchases the Rolex they (Rolex) takes down all of her info so she can't skip around stores and get the "incredible" discount again? Anyone ever heard of this?

__________________________________________________ _______________

I have heard this from a reliable source... I think that it's not just a "recently started" employee of a store though. From what I have heard, it is for Rolex authorized watch makers and principles of long standing AD. I may be wrong but I know that the person who I heard this from has been afiliated with Rolex for a while.
I am pretty sure it is "marked" to make it more difficult to flip it.
If there is a small minimum time frame, I know where I am trying to get a job next holiday season! :-)

My two cents...

-Pete

[nylawbiz]

I would think principals of AD's would always get their watches at dealer cost!

[LovesRolexes123]

AD pays approximately 60 per cent of MSRP for the watch, and I believe this is what the employee pays. My understanding is that the employee has to have been with the AD for a certain period of time, and also that the watch is engraved / marked with the employee's initials / name. Also, I don't think that it's available for all models. I have gotten different stories from different AD's (which may be a function of Rolex changing its policy slightly over the years).

[PeteNYC13]

Originally Posted by nylawbiz

I would think principals of AD's would always get their watches at dealer cost!

__________________________________________________ ______________

This one time special is different than dealer cost and as someone noted above, isn't on all models and is "marked" by Rolex.

-Pete

[champion5]

90 days and she gets it. she will get one for her husband. she gets 50% + 10% on tags (the extra 10% is givin by the store to cover shipping) and a very similar discount on others.

[gt3pilot]

Dealer cost for Rolex is 40% off list. They get an extra 2% when paid within 30 days. Employees would have to work longer than 90 days to get the special one time discount. Employee's probably would need to work years not months to be eligible. It wouldn't make much sense for owners to get them for dealer cost, as that's what they pay for them anyway ! The special one time discount for AD's has been dealer cost less 20%. It used to apply for the owner and his immediate family members, but they may have changed to just the owner. Of course they could just list family as employees and get them a better price that way!! Rolex changes their polices regularly, but this was what I was told the last time I discussed it with an AD owner about a year and a half ago or so and he said he could order any watch. He was considering a Plat. Masterpiece with Meteorite 2 diamond dial.


-Scott B.

[barstoolman]

A 50% and 10% discount is in effect a 55% discount.....not 59%