Rolex Singapore moves to put an end to ADs charging a premium

[Singslinger]

The Singapore Business Times on 1 March reported that Rolex Singapore has written to its ADs to stop charging a premium for their watches. Although no punishment is mentioned for ADs that continue with premiums, I'm guessing they run the risk of losing the Rolex distributorship if caught.

Although all of us would welcome this, there are problems, the most obvious being that if ADs in other countries still charge a premium, Singapore ADs will simply send the desirable models overseas. If so, then local customers might end up being worse off because waiting lists here have little value.

I've also been told that some ADs have told their customers that they can buy the desirable models such as the S/S Daytona at full MSRP - provided they buy another watch at the same time. This is mentioned in the full report, which is attached below.


MOD EDIT: Don't print out whole articles unless you wrote them yourself and own the copyright. Just provide a link. Thanks.

And FYI, this story has been reported here several times already.

[Yogi20]

If I could get a Daytona C at retail I would be happy to buy another Rolex with it, move the other one on and take a £700-£1000 hit on it Happy days
Or ask for another Daytona C as the second watch

[imperio]

Originally Posted by Singslinger

The Singapore Business Times on 1 March reported that Rolex Singapore has written to its ADs to stop charging a premium for their watches. Although no punishment is mentioned for ADs that continue with premiums, I'm guessing they run the risk of losing the Rolex distributorship if caught.

Although all of us would welcome this, there are problems, the most obvious being that if ADs in other countries still charge a premium, Singapore ADs will simply send the desirable models overseas. If so, then local customers might end up being worse off because waiting lists here have little value.

I've also been told that some ADs have told their customers that they can buy the desirable models such as the S/S Daytona at full MSRP - provided they buy another watch at the same time. This is mentioned in the full report, which is attached below.


MOD EDIT: Don't print out whole articles unless you wrote them yourself and own the copyright. Just provide a link. Thanks.

And FYI, this story has been reported here several times already.

Ha. I feel sorry for the grey dealers in that part of the world. Better unload stock pronto.

[jyn]

What they are doing is

1 - coupling - buy a Rolex President DD and have the opportunity to top-up and get the Daytona C

2 - selling to local grey market dealers - Sell to a grey market dealer at MSRP and take some cash under the table.

3 - Sell to their VVIP clients at MSRP

regardless of which model the ADs use, it's bad for the 'regular' consumers here.

[meganfox17]

Originally Posted by jyn

What they are doing is

1 - coupling - buy a Rolex President DD and have the opportunity to top-up and get the Daytona C

2 - selling to local grey market dealers - Sell to a grey market dealer at MSRP and take some cash under the table.

3 - Sell to their VVIP clients at MSRP

regardless of which model the ADs use, it's bad for the 'regular' consumers here.

That's exactly the scenario in Malaysia and I've been trying to tell the folks on the TRF the dirty games the local ADs play. The common advice on the forum is to establish a good relationship with your AD, put your name down, you might never know, blah blah blah blah...Rubbish! This isn't the norm here and the method only works in 1-2 isolated cases. Rolex employees at the boutiques have the mobile numbers of VVIP clients on their smartphones and they receive their well earned commissions once the deal is successful.The truth of the matter is Money Talks and Bullshit Walks !

[jyn]

I would say that the relationship still matters but not on the hottest ticket models, where these games are played. I get offered an earlier choice when a popular piece comes in or when they get 'interesting' pieces. Most recently the Lange "Richard Lange" Pour Le Merite at a slight discount to the MSRP. I passed on the $80k USD plus price tag!

Still, I put my name down for the Daytona C on day 2 and have been waiting ever since. Kept getting leap-frogged by Greys and VVIPs. My AD says the last Daytona C white dial went to their customer at retail since he spent $500k SGD so far, this year!

[AK797]

Originally Posted by meganfox17

That's exactly the scenario in Malaysia and I've been trying to tell the folks on the TRF the dirty games the local ADs play. The common advice on the forum is to establish a good relationship with your AD, put your name down, you might never know, blah blah blah blah...Rubbish! This isn't the norm here and the method only works in 1-2 isolated cases. Rolex employees at the boutiques have the mobile numbers of VVIP clients on their smartphones and they receive their well earned commissions once the deal is successful.The truth of the matter is Money Talks and Bullshit Walks !

Or Waits.

[SeaDweller50]

Won’t Rolex HQ see a pattern emerging with everyone now starting to buy 2 watches instead of one? I don’t get how AD’s get away with it if names and addressses have to be linked to every watch purchase.

[rollee1]

Wishful thinking, easier said than done.
People are willing to pay up.