Richard Mille Relationship Question

[PAFG]

Hey everyone, I have the opportunity to acquire an RM30-01 in TI at the boutique. I understand that the piece is going for a decent amount under retail in the grey market. However, I was thinking to try and build a relationship with the brand to later acquire more desirable ntpt pieces, 67-02, etc. Any thoughts on if it's worth the price tag to get into this piece to build a relationship? I would rather have the 67-01 or 67-02 because of the thinness, but I do not think it would be possible to acquire first without going grey.

[APhound]

If you plan to buy more then I think it’s worth it plus you get to buy it new directly from them which is worth something.
And by the way that watch is amazing! I tried it in rose gold and was really impressed


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[Brit78]

Building a relationship with Richard Mille could be worth it for future pieces, but if you want the 67-01 or 67-02 now, the grey market might be your best bet. Depends on what’s more important to you!

[PAFG]

Originally Posted by APhound

If you plan to buy more then I think it’s worth it plus you get to buy it new directly from them which is worth something.
And by the way that watch is amazing! I tried it in rose gold and was really impressed


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I am thinking about it, it's just tough because that piece is 222k retail for the TI before tax and dealers are buying them for under 200 if I wanted to get rid of it. If I want to keep it, it will probably be worth 120-170s in the next few months too. I also rather have the thinner one..

[77T]

I begin with a question:
To what end would an RM relationship lead?

1 RM will not build a relationship.

If you have $1MM today to spend on RMs, and plan to spend $5MM over the next year, then it is worth the effort.

4 RMs is a good start so that's why I used the $1MM figure for now.

And once you start the relationship, to keep it going will cost more and more over the coming years - thus the $5MM.

Just my humble opinion - I'd love to have one - but for me it would be 1 and done.


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[APhound]

I too have been toying with the idea of getting one. I think they’re amazing.
But the money gets out of hand really quickly, I’m always like ya I could maybe spend x for this but for only 60k more I could get that and then another 30k and then all the sudden I’m just way out of my league/ comfort zone. And then the other problem is I’m only going to want more!


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[Ichiran]

I'm still waiting for my RM-72. I have no relationship and I think it could be a never for me.

[Armis]

Isn’t the 67-01 an entry piece that is relatively easy to get as a first piece? This was a model that they would suggest first (in addition to round and women’s pieces). Did something change?
If not, then make this request.

[7sins]

Originally Posted by 77T

I begin with a question:
To what end would an RM relationship lead?

1 RM will not build a relationship.

If you have $1MM today to spend on RMs, and plan to spend $5MM over the next year, then it is worth the effort.

4 RMs is a good start so that's why I used the $1MM figure for now.

And once you start the relationship, to keep it going will cost more and more over the coming years - thus the $5MM.

Just my humble opinion - I'd love to have one - but for me it would be 1 and done.


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Going to politely disagree, you do not need to spend $5M over the next year, that is slightly absurd, the avg RM is $250-$500k. That would be 10-15 watches over a year. $500k-$1M spend over a year or two, with a ladies RM, will be more than enough to get him a 67-02, assuming your SA likes you. My spend is less than $500k with a 030 and my second allocation was a 72 without having to spend on anything else. Will it get you a RM LE of 10, no, but the majority of the collection will be attainable at a 7 figure spend.

[PAFG]

Originally Posted by 7sins

Going to politely disagree, you do not need to spend $5M over the next year, that is slightly absurd, the avg RM is $250-$500k. That would be 10-15 watches over a year. $500k-$1M spend over a year or two, with a ladies RM, will be more than enough to get him a 67-02, assuming your SA likes you. My spend is less than $500k with a 030 and my second allocation was a 72 without having to spend on anything else. Will it get you a RM LE of 10, no, but the majority of the collection will be attainable at a 7 figure spend.

That's I'm wondering if it's even worth getting the rm30-01.. do I spend 222k+ tax for a watch that I do not 150% want just to get something else that is also 200k+ lol. All the while, if I sell the 30-01.. I lose 40k+ now and probably more in the coming months given how horrible the watch market is now and most likely the economy soon..

[salnuaimi]

Originally Posted by PAFG

That's I'm wondering if it's even worth getting the rm30-01.. do I spend 222k+ tax for a watch that I do not 150% want just to get something else that is also 200k+ lol. All the while, if I sell the 30-01.. I lose 40k+ now and probably more in the coming months given how horrible the watch market is now and most likely the economy soon..

once you sell it and the seller takes it to the boutique you will be blocked .

[1William]

I would not by the RM from the Boutique that is selling for less in the secondary market unless it was a watch I was going to keep forever, and that's a mighty long time. The relationship piece is based on money and spending totals not friendship and being a good person. If you want the watch then buy it for market price in the secondary market from a reliable source and save the money you would have spent at the Boutique. Save that money for a piece you really want and has an upside.

[RRJ]

I would disagree that it's worth "building a relationship" - imo things are slowly but surely getting back to how they were before, albeit maybe not quite as low. If you are looking to buy one watch rn just go grey. If you've got some time, I'd give it two or three years and 99% of all models will trade below retail again. 055s were trading for 70k at one point.

[77T]

Originally Posted by 7sins

Going to politely disagree, you do not need to spend $5M over the next year, that is slightly absurd, the avg RM is $250-$500k. That would be 10-15 watches over a year. $500k-$1M spend over a year or two, with a ladies RM, will be more than enough to get him a 67-02, assuming your SA likes you. My spend is less than $500k with a 030 and my second allocation was a 72 without having to spend on anything else. Will it get you a RM LE of 10, no, but the majority of the collection will be attainable at a 7 figure spend.

Thanks for the kind reply - yes you are right. I should have said "over the years" not in one year.

My main point is valid methinks.
- 1 RM doesn't make a relationship.
- Why try for RM relationship?
- You need to spend at least 1MM to build a relationship. .
- And for what? Spending more later.


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[PAFG]

Originally Posted by RRJ

I would disagree that it's worth "building a relationship" - imo things are slowly but surely getting back to how they were before, albeit maybe not quite as low. If you are looking to buy one watch rn just go grey. If you've got some time, I'd give it two or three years and 99% of all models will trade below retail again. 055s were trading for 70k at one point.

RM is definitely declining for sure. I went to the boutique in the US and 1 week later got the message that I can get a 30-01. I told the guy I would prefer 67 or 72 because of the thinness and my wrist size and he hasn't emailed back.. so he prob got offended I didn't take the quick sale lol.

[enjoythemusic]

Perhaps wait as the stock market is crashing, and it seems you are cost-conscious. I'd not worry about getting RM watches, and keep an eye on the secondary market direction and availability as weak hands get shaken out. Revisit in Nov 2024 and then reconsider the market outlook and adjust accordingly.

jmho

[77T]

Originally Posted by enjoythemusic

Perhaps wait as the stock market is crashing,

No worries - I'm pumping cash in and so is Buffet. This'll be a speed bump.

But agree - hold off RMs at anything above MSRP


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[eiesh]

OP, Which 67-02 are you interested in ?

I ask since that’s your grail.

Can you compare grey vs retail.

Someone here said 67-02 are now ~$270k range, if this is true, that’s in-line with grey market prices.

On Chrono24, the green Van Niekerk is going for $225k for a 2020


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[TopherMins]

If you are looking preowned, look for something that is less than 3 years old. The factory warranty is only 3 years from date of purchase, you get an additional 2 years of warranty if you send it in for service within those first 3 years. Also a way of RM knowing you still own it, which they are more strict than AP when it comes to selling.

Anything you have to pay for service out of warranty is astronomical and will take 6-9 months to get back. You also might wait this long if you send it in for service under the factory warranty but at least you are not out of pocket any more money.


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[PAFG]

Originally Posted by eiesh

OP, Which 67-02 are you interested in ?

I ask since that’s your grail.

Can you compare grey vs retail.

Someone here said 67-02 are now ~$270k range, if this is true, that’s in-line with grey market prices.

On Chrono24, the green Van Niekerk is going for $225k for a 2020


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Retail on a 67-02 is around 270k? If that’s the case, I might as well go grey. But I’m not sure exactly what retail is, maybe someone can chime in. I’m looking for any one besides the green case one. If anyone is selling one, shoot me a message haha.

[watchman124]

Originally Posted by PAFG

Retail on a 67-02 is around 270k? If that’s the case, I might as well go grey. But I’m not sure exactly what retail is, maybe someone can chime in. I’m looking for any one besides the green case one. If anyone is selling one, shoot me a message haha.

Retail for 67-02 is $230K USD with tax. They're about to do another price increase though in the next 1/2 months or so. Paid this for my Italy in March of this year.

The only models in production at this moment are the Italy, the Ogier, and the Pintarault (white one). My guess is they may release some more colors soon. The green is under retail pricing but no longer in production.