Cashing In

[Max7857]

So Bigham Jewelers in Naples, FL recently lost their AD status. I’ve noticed on their website under used Rolex that they have 80+ available for sale and over half have 2024 cards. When they were an AD their used inventory was generally around 12-20. My AD explained to me that when an AD is dropped all remaining inventory warranty starts on the day they lose authorized status. In effect making them “used”

If in fact these are “new but used” do you think it is fair to be selling them at grey market pricing. I’m sure many loyal customers were denied these pieces as unavailable while they were still an AD. If they were going to cash in would it have been better to bundle them and sell to a true grey market dealer rather than retail to their customers. Curious what others think.

[PepsiBezel]

They lost their AD status… it’s business, and it’s the fair market price. They have no reason to be beholden to Rolex MSRP.

[Marcjvr]

Originally Posted by Max7857

So Bigham Jewelers in Naples, FL recently lost their AD status. I’ve noticed on their website under used Rolex that they have 80+ available for sale and over half have 2024 cards. When they were an AD their used inventory was generally around 12-20. My AD explained to me that when an AD is dropped all remaining inventory warranty starts on the day they lose authorized status. In effect making them “used”

If in fact these are “new but used” do you think it is fair to be selling them at grey market pricing. I’m sure many loyal customers were denied these pieces as unavailable while they were still an AD. If they were going to cash in would it have been better to bundle them and sell to a true grey market dealer rather than retail to their customers. Curious what others think.

All is fair in love, war and luxury watch sales

[brandrea]

I get your point OP, but since they’ve parted ways, alls fair as they say

[SLWoodster]

Sorry to everyone who put their money and time to build a relationship there.

Rolex isn't trying to be fair and definitely not the ADs.

I would like Rolex to have stopped increasing their retail price 30 years ago and all ADs to continue their discounting so I can get a daytona for $500.

But life ain't fair. LOL

Originally Posted by Max7857

So Bigham Jewelers in Naples, FL recently lost their AD status. I’ve noticed on their website under used Rolex that they have 80+ available for sale and over half have 2024 cards. When they were an AD their used inventory was generally around 12-20. My AD explained to me that when an AD is dropped all remaining inventory warranty starts on the day they lose authorized status. In effect making them “used”

If in fact these are “new but used” do you think it is fair to be selling them at grey market pricing. I’m sure many loyal customers were denied these pieces as unavailable while they were still an AD. If they were going to cash in would it have been better to bundle them and sell to a true grey market dealer rather than retail to their customers. Curious what others think.

[Robison347]

That’s an interesting twist. If I were a dealer, and Rolex took away my franchise, I would surely sell my remaining stock at market, not at the price Rolex dictated in all the years I was beholden to them.

In today’s market, not all Rolex dealer stock is going to be worth more than MSRP. I’d certainly do the best I could with all of it, though, as the end of my time with the brand, and see how those sales went as I made a plan to regroup.

[Max7857]

Originally Posted by Robison347

That’s an interesting twist. If I were a dealer, and Rolex took away my franchise, I would surely sell my remaining stock at market, not at the price Rolex dictated in all the years I was beholden to them.

In today’s market, not all Rolex dealer stock is going to be worth more than MSRP. I’d certainly do the best I could with all of it, though, as the end of my time with the brand, and see how those sales went as I made a plan to regroup.

I don’t necessarily disagree. My point was that in the days/weeks before losing status customers wanting those particular watches must have been lied to saying they were unavailable. I think they should have sold them all to a “real grey market” dealer or waited a little while to retail making it less obvious what they were doing.

Many on this forum are quick to give flippers a hard time and in a sense that is what they are doing. I’m sure if this store had caught a customer flipping they would cut them off and give a lecture. Yet that is what they are doing. To be fair a few of the watches like the Air King are listed at Rolex suggested retail.

[mpkRolex]

They are now technically gray and will sell those as a grey wolf


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[Onequik135i]

Just checked their pre owned Rlx inventory, very high priced. All their vintage including service dial pieces.

[Robf52]

Originally Posted by PepsiBezel

They lost their AD status… it’s business, and it’s the fair market price. They have no reason to be beholden to Rolex MSRP.

This.

[Rolexatlast]

I don’t quite follow your question…

Originally Posted by Max7857

If in fact these are “new but used” do you think it is fair to be selling them at grey market pricing. I’m sure many loyal customers were denied these pieces as unavailable while they were still an AD. If they were going to cash in would it have been better to bundle them and sell to a true grey market dealer rather than retail to their customers. Curious what others think.

If you object to the AD selling them at market price, why do you suggest it would be better to sell them to a grey dealer?

Are you upset that a former AD is cashing in, rather than a grey being able to cash in?

[Kevin of Larchmont]

Of all the injustices in the world this isn’t one of them. Unless you consider capitalism an injustice.

[77T]

Originally Posted by Max7857

So Bigham Jewelers in Naples, FL recently lost their AD status. I’ve noticed on their website under used Rolex that they have 80+ available for sale and over half have 2024 cards. When they were an AD their used inventory was generally around 12-20. My AD explained to me that when an AD is dropped all remaining inventory warranty starts on the day they lose authorized status. In effect making them “used”



If in fact these are “new but used” do you think it is fair to be selling them at grey market pricing. I’m sure many loyal customers were denied these pieces as unavailable while they were still an AD. If they were going to cash in would it have been better to bundle them and sell to a true grey market dealer rather than retail to their customers. Curious what others think.

I think Rolex knows what bad dealers do when that many watches ship and so many never activate a card (if that's what Brigham did).



A local AD here did the same thing and when one of the partners retired, I learned they were doing the same thing.



Shoddy is what I think.

[Max7857]

Originally Posted by Rolexatlast

I don’t quite follow your question…



If you object to the AD selling them at market price, why do you suggest it would be better to sell them to a grey dealer?

Are you upset that a former AD is cashing in, rather than a grey being able to cash in?

My beef is that many of the watches for sale are hard to get like the Batman, Sprite, and olive dial DD. When an AD they tell customers they are unavailable and that they will put on list etc. I find it hard to believe that if they called people on the list while still an AD that the watches would now be available as used. I am fine with them making all the profit they want but what do they tell the customer that has been on a list for a year that now sees a new watch that had to be in inventory while an AD selling used for double. Just doesn’t appear ethical to the customer that really believed a list existed. By the store selling to a grey they still make extra profit but possibly avoid alienating past customers who requested the watch while the store was still an AD and had the inventory in stock but refusing to sell.

[SpeakWithMichael]

i've visited them a few times, but I never found them to have much at all. And they never called me back for anything. SW Florida, specifically Naples, is hurting for Rolex stores with inventory considering the amount of money that exists there.

[enjoythemusic]

Never been to that AD, i can highly recommend Nick at Mayors in Tampa.

If you local FL guys need a new connection, visit Nick plus the new locations / larger store will be EPIC!

PS: UTC Mall location for Mayors is changing to a much larger sq ft, so that's another option and Frank is the mgr there for forever and Kiki knowns Rolex well.

[train-time]

Originally Posted by Max7857

So Bigham Jewelers in Naples, FL recently lost their AD status. I’ve noticed on their website under used Rolex that they have 80+ available for sale and over half have 2024 cards. When they were an AD their used inventory was generally around 12-20. My AD explained to me that when an AD is dropped all remaining inventory warranty starts on the day they lose authorized status. In effect making them “used”

If in fact these are “new but used” do you think it is fair to be selling them at grey market pricing. I’m sure many loyal customers were denied these pieces as unavailable while they were still an AD. If they were going to cash in would it have been better to bundle them and sell to a true grey market dealer rather than retail to their customers. Curious what others think.

Bundling them and selling to a grey market dealer for resale wouldn't get them market value. Once terminated by Rolex it's not likely they would be able to get their AD status back, so the way to go is to sell them individually as close to current market value as they can and call it a day.

[Roger Lococco]

I didn’t see much new on their website.


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[VictorGMT]

Originally Posted by Max7857

Just doesn’t appear ethical to the customer that really believed a list existed.

The customers are free to live in a fantasy world detached from reality. The business has no obligation to maintain that fantasy for them.

I mean really. Were these customers who believed in the list thirteen?

[Marcjvr]

Originally Posted by VictorGMT

The customers are free to live in a fantasy world detached from reality. The business has no obligation to maintain that fantasy for them.

I mean really. Were these customers who believed in the list thirteen?

It’s comical how many grown adults still believe in things like lists and fairness around here

The only thing that matters at ADs is money talks and BS walks. Always has been the case, always will be

[Roddypeepa]

People lie all the time. At work. In business. In relationships.

A dealer cashing in in a situation like this is no great surprise. What I am surprised by is the surprise.

What I think this shows is: buy what you like at a price you think is fair. And don’t be surprised that your little trinket now might be worth more than, less than or similar to what it’s worth now in 5,10,50 years

And also, ADs being shady. Who would have ever thought that…? . It’s like breathing to some of them.

The Covid bubble is well and truly over and the sooner ADs admit it the better. Stability, not speculation is what has made Rolex the king.


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[casadecamporolex]

The opportunist in me tells me to travel there right now.
It’s a buying opportunity where $ talk.
If they were smart(they are)they’d run all the inventory through the Rolex portal as a sale to gain the 5 year warranty.
Anyone been there yet?

[Harry-57]

They're a business. If they have a stock of Rolex watches which are now legitimately classified as used they can sell them at the market price. I expect they'll haggle.

[Yobber76]

Originally Posted by SpeakWithMichael

i've visited them a few times, but I never found them to have much at all. And they never called me back for anything. SW Florida, specifically Naples, is hurting for Rolex stores with inventory considering the amount of money that exists there.

I have visited them too, and I agree with all of this. None of the luxury dealers, Omega, Bucherer, Yamron, Panerai, seem to really care about selling you a watch Today!
With all of the money in that area, they can wait for the big spenders, who will spend 100K for jewelry for their current Mrs. Right, and then the same for the watch(es) they want for themselves.

[GGGMT]

I hope Rolex doesn’t find out! They will big time and aggresssively … um … oh. I guess nothing.


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[rohada]

I would be surprised if their termination was a surprise to them, if there was no build out for a store in a store or anything that showed some kind of buy in to satisfy Rolex. As such I can see why they would start possibly stockpiling watches so they could sell at current market pricing. Go out with a bang, because they can always say, "you weren't a big enough fish," I suppose. Just a guess, of course.

[StocksnBlondes]

Any current Rolex customers care to comment about all these 2024 pre owned watches they have now that they lost their AD status?

[ltmgeller]

They are no longer under the direction of Rolex so they can now sell for current market value.

[Zach69SS]

Bigham, was operating as grey dealer even before they lost their AD status, when you inquired about a new piece the SA Carol would tell you that they had plenty of used 24 models and the cases were full of them. All at market prices… So they had some scam going on? So won’t find any deals there.

My worst AD visit ever. All of the customers must have picked up their new pieces and sold them back to Bigham on the spot? I would not buy anything from them even at MSRP.

[ArtNouveau]

I know of two small dealers whose owners retired and closed shop. Whatever Rolex they had left in stock were sold for bargain prices but this years ago.
Now they sell them for whatever they can get, surprise surprise.