Nothing changes. The waiting lists continue

[nachopc]

Originally Posted by enjoythemusic

Not gone, though demand will reduce. Consumer sentiment has already changed, yet there's much more downside to come. Much more. Give it time.

Yes the 1% will be fine. In fact they're probably well-positioned to benefit from this crisis. As usual, the little guys will be crushed. Sales in a few industries such as luxury audio and musical instruments has actually increased in the past months.

Then again free money is raining down as central banks have been buying $2,400,000,000 ($2.4 billion) PER HOUR of financial assets. That free cash flow has to benefit someone's paycheck.

Thanks God I work with the 1%, all high end businesses.
Appreciate your comments always!
Nacho


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[mnf67]

Originally Posted by sgwatchguy

I know enough of their history and enough of their present, thank you. A study of the current Rolex portfolio would show that their “tool watch” days are consigned to history, for better or worse it doesn’t matter. I’ll leave it at that.

Since your brought it up... Considering you’re firmly in the 1%, based on your posts on other threads where you talk about your net worth, maybe your time is better invested on forums focused on UHNWI. I’m happy here.

I’ll take it then you have no data for the all numbers that you bandy about in various threads, “common knowledge” should be easy to back up.

https://www.statista.com/statistics/...rolex-jewelry/
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.

[chiscott_29]

Originally Posted by mnf67

https://www.statista.com/statistics/...rolex-jewelry/
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.

I don't think the comment on SS sports models is necessarily an accurate conclusion. Maybe, maybe not. I can't see the data as it is asking me to sign up for an account.

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.

[DG123]

Originally Posted by chiscott_29

I don't think the comment on SS sports models is necessarily an accurate conclusion. Maybe, maybe not. I can't see the data as it is asking me to sign up for an account.

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.

My guess is that each year Rolex sells significantly more DateJust's than all the "ss sports models" combined.
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.

[chiscott_29]

Originally Posted by DG123

My guess is that each year Rolex sells significantly more DateJust's than all the "ss sports models" combined.
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.

I would think you are correct...

[AK797]

Originally Posted by Ranger67

Running my own chauffeur company we drive A list celebs, musicians, HNWI etc hardly ever see a Rolex on those, where I do see them most is people I expect in the £75k plus wage range, one client I drive with a net worth of £50 million wears a £1.99 Casio.

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.

[Xenon]

Originally Posted by DG123

My guess is that each year Rolex sells significantly more DateJust's than all the "ss sports models" combined.
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.

I used to take some old girlfriend's in to Tourneau at the Mall to look at some watches at the counter. When I showed them any Rolex sports model at all they would say they never saw one before or even believed it was a Rolex. When I showed them a Datejust or Daydate, they immediately said "that's a Rolex!".

[Rockland]

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.

[UmichNJ]

Originally Posted by peterpl

What stats do you want? Its common knowledge Rolex target audience is the working class. NOT the elite 1%. Your in the wrong watch forum and brand if you think Rolex are targeting the Elite top 1%ers and that means you know nothing about Rolex history and their roots of their customers.

There is a reason why many on here still consider Rolex "Tool" watches. Because they were used as tools and aids for working duties.

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.

[peterpl]

Originally Posted by UmichNJ

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.

Higher income earners is way way way off from being top 1%. They are still everyday joe blogs working 9-5 and they have 100% been affected by the virus and lockdowns financially.

[Rolexatlast]

Originally Posted by chiscott_29

I don't think the comment on SS sports models is necessarily an accurate conclusion. Maybe, maybe not. I can't see the data as it is asking me to sign up for an account.

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.

If 75% of any business’s customers disappeared overnight, that is bound to impact on sales.

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

[Podmornica]

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

[3sheets86]

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.

[garyk]

Originally Posted by Podmornica

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

I'm sure everybody is right about pricing coming down but this one didn't seem that low from a US perspective, but maybe? I'm not fond of the Pepsi so I haven't been following closely, plus I only buy at retail from an AD...