Rolex market insanity and I’m damn mad about it

[casadecamporolex]

Just spent an hour at my #1 AD.
While I was there, they received over 5 calls looking for new Sub.
They explained to me that it’s become someone’s designated job to handle customer inquiries. Each leads to a rejection. And Rolex then requires an appropriate communication to each inquiry encouraging an in store visit.
The list is now over 500 for the SS release.
He joked, it’s a 50 year wait based on my allocation.
Incredible that COVID has made Rolex, currently, more desirable.
Perfect for them, ridiculous for everyone else.

[Ranger67]

It’s a bit of a lottery as there seems to have been quite a few incomings lately.

[supernova]

Originally Posted by Ranger67

It’s a bit of a lottery as there seems to have been quite a few incomings lately.

Definitely no lottery, it's based on past spend as always..

[pickettt]

So they are to encourage a customer to visit a store...so they can be told in person that they don’t have what they’re looking for?

[Loevhagen]

Originally Posted by pickettt

So they are to encourage a customer to visit a store...so they can be told in person that they don’t have what they’re looking for?

Yes - to offer them an iced 31mm DJ instead.



Or, maybe a nice Omega, etc.

[mrmclovin]

Originally Posted by pickettt

So they are to encourage a customer to visit a store...so they can be told in person that they don’t have what they’re looking for?

[LeftHookLacey]

Originally Posted by pickettt

So they are to encourage a customer to visit a store...so they can be told in person that they don’t have what they’re looking for?

If my experience counts for anything, they want you there so they can bait/switch youto something else.

I've had several situations like this:
Me: I'm looking for an Explorer or maybe OP b/c I want a tiem only piece.
AD: Oh yes, those are nice but there is a shorage, but we have this beautiful DJ and this other TT DJ, both beautiful
Me: yeah, but they both have a date compilaction, so not what I'm looking for
AD: oh yes, but we have these in stock

[JRell]

Originally Posted by casadecamporolex

Just spent an hour at my #1 AD.
While I was there, they received over 5 calls looking for new Sub.
They explained to me that it’s become someone’s designated job to handle customer inquiries. Each leads to a rejection. And Rolex then requires an appropriate communication to each inquiry encouraging an in store visit.
The list is now over 500 for the SS release.
He joked, it’s a 50 year wait based on my allocation.
Incredible that COVID has made Rolex, currently, more desirable.
Perfect for them, ridiculous for everyone else.

Heard the same thing from my AD. He has never seem anything like this. They will get more black subs than other “hot watches”, but not enough.

[Chopped54]

I am confused, what does COVID have to do with the desirability of a luxury watch?

[Ranger67]

Originally Posted by Chopped54

I am confused, what does COVID have to do with the desirability of a luxury watch?

The correlation I assume with Covid that as has been mentioned before is that people have more disposable income due to not able to go on holiday, not eating out, not needing new clothes etc and Rolex is a safe investment.

[Bigblu10]

Originally Posted by Ranger67

The correlation I assume with Covid that as has been mentioned before is that people have more disposable income due to not able to go on holiday, not eating out, not needing new clothes etc and Rolex is a safe investment.

So a Rolex is a "safe investment"? But investing in a booming record setting stock market isn't? I'm confused.

There a a million better investments than a luxury watch which nobody in their right mind "needs", FWIW

[thefollandgnat]

Originally Posted by Bigblu10

So a Rolex is a "safe investment"? But investing in a booming record setting stock market isn't? I'm confused.

I tried wearing the stock market on my wrist but ended up in the emergency room.

[Posh Gentleman]

Originally Posted by thefollandgnat

I tried wearing the stock market on my wrist but ended up in the emergency room.

not sure I follow. you buy quality stocks, slowly, and let it compound for years.

that's how you get rich.

[Ranger67]

Originally Posted by Bigblu10

So a Rolex is a "safe investment"? But investing in a booming record setting stock market isn't? I'm confused.

There a a million better investments than a luxury watch which nobody in their right mind "needs", FWIW

Nowhere do I say that you buy a Rolex as an investment, my point is if you want a luxury watch you won’t lose money on a Rolex ie a safe investment, no need to be churlish.

[RoscoPico]

Originally Posted by Ranger67

Nowhere do I say that you buy a Rolex as an investment, my point is if you want a luxury watch you won’t lose money on a Rolex ie a safe investment.

i'll go ahead and say it, stock market downturn, and economy as a whole, coming very soon

watch market downturn, i guess 3yrs from now.

[gnuyork]

Originally Posted by Bigblu10

So a Rolex is a "safe investment"? But investing in a booming record setting stock market isn't? I'm confused.

There a a million better investments than a luxury watch which nobody in their right mind "needs", FWIW

Stock market is crazy- that's actually one of the reasons why I don't have a Rolex right now...to make it happen, I would have to liquidate some stocks and I'm just not really going to do that right now.

Plus the only new Rolex I want is the white dial OP 39 which is now a pipe dream since Sept 1st. I'm considering the Exp which I never like in photos but may be different in person.

[JRell]

Originally Posted by gnuyork

Stock market is crazy- that's actually one of the reasons why I don't have a Rolex right now...to make it happen, I would have to liquidate some stocks and I'm just not really going to do that right now.

Plus the only new Rolex I want is the white dial OP 39 which is now a pipe dream since Sept 1st. I'm considering the Exp which I never like in photos but may be different in person.

That is a great watch. I am not a fan of greys, but if they are reputable, the price is right and the watch is discontinued, why not? I just took a quick look, with not much research I seen a few close to MSRP. Give it a try. Life is short and 6k for a Rolex is not crazy!

[Chopped54]

Originally Posted by Ranger67

The correlation I assume with Covid that as has been mentioned before is that people have more disposable income due to not able to go on holiday, not eating out, not needing new clothes etc and Rolex is a safe investment.

I am putting my money on the new releases driving all the prices up. They were stable prior to August.

And if you want to see insanity in the market place check out the dials and inserts in the classifieds. $6500 for a LV dial?!?!?!?

[Carlos282]

I understand the Rolex manufacturing plants shut down for several months. That likely affected the supply chain and cut down on the new supply of 2020 models to hit the store.

[Chester01]

Originally Posted by casadecamporolex

Just spent an hour at my #1 AD.
While I was there, they received over 5 calls looking for new Sub.
They explained to me that it’s become someone’s designated job to handle customer inquiries. Each leads to a rejection. And Rolex then requires an appropriate communication to each inquiry encouraging an in store visit.
The list is now over 500 for the SS release.
He joked, it’s a 50 year wait based on my allocation.
Incredible that COVID has made Rolex, currently, more desirable.
Perfect for them, ridiculous for everyone else.

Lol, Sure. How many subs went out the back to the gray market. %0 year wait for you and I. Gray market will come to the back door and walk out with 3/4.

[Loevhagen]

If you think of it for a little while, it's actually a good thing. I felt the same recently; aggravated. However, this funny business (sic) has lead me to open the eyes to other brands.

[Kigan]

Originally Posted by loevhagen

if you think of it for a little while, it's actually a good thing. I felt the same recently; aggravated. However, this funny business (sic) has lead me to open the eyes to other brands.

+1.

[1William]

Such is the current market.

[DtownRRS]

Funny, I was watching the US Open and up pops the ad for the NEW ROLEX Sub and shows how awesome it is etc. I was thinking any normal person watching this would think, hey that's really nice looking I am going to contact my local store and get one. Outside this world the general public has no idea about how it really is. These adds will have lists miles long with "if one comes" etc. requests.

[Robf52]

Originally Posted by DtownRRS

Funny, I was watching the US Open and up pops the ad for the NEW ROLEX Sub and shows how awesome it is etc. I was thinking any normal person watching this would think, hey that's really nice looking I am going to contact my local store and get one. Outside this world the general public has no idea about how it really is. These adds will have lists miles long with "if one comes" etc. requests.

Also, full page Sub ad in today's WSJ.

[AJMarcus]

Originally Posted by Robf52

Also, full page Sub ad in today's WSJ.

Why would they advertise for a watch that’s not available for immediate purchase? Insanity or just a ploy to get you to buy a TT Datejust? It could backfire. A man walks into an AD to buy the Submariner he just saw advertised in today’s paper. After he’s told it’s not available and who knows when it will be available, he walks over to the Omega Case and walks out with a Seamaster in any flavor he wants

[zewill]

Originally Posted by AJMarcus

Why would they advertise for a watch that’s not available for immediate purchase? Insanity or just a ploy to get you to buy a TT Datejust? It could backfire. A man walks into an AD to buy the Submariner he just saw advertised in today’s paper. After he’s told it’s not available and who knows when it will be available, he walks over to the Omega Case and walks out with a Seamaster in any flavor he wants

Yes but when he looks at the Omega, does he still think about not being able to get the Rolex? Does that second choice make him doubt?
Probably ;)

[Sub Capt.]

Originally Posted by AJMarcus

Why would they advertise for a watch that’s not available for immediate purchase? Insanity or just a ploy to get you to buy a TT Datejust? It could backfire. A man walks into an AD to buy the Submariner he just saw advertised in today’s paper. After he’s told it’s not available and who knows when it will be available, he walks over to the Omega Case and walks out with a Seamaster in any flavor he wants

Or the SA shows him a nice Datejust 41 or OP 41 that still says Rolex On the dial and he buys that. And the hook is set....

Getting potential customers in the store is always good.

[Posh Gentleman]

wait, wait list of 500+ for a new Submariner?

that's extreme. however my guess is not all of those on that wait list are serious buyers. many just putting their name down for a quick flip for small easy profit.

[Mutsu]

Originally Posted by DtownRRS

Funny, I was watching the US Open and up pops the ad for the NEW ROLEX Sub and shows how awesome it is etc. I was thinking any normal person watching this would think, hey that's really nice looking I am going to contact my local store and get one. Outside this world the general public has no idea about how it really is. These adds will have lists miles long with "if one comes" etc. requests.

I totally agree with the comment about the general public not knowing the reality.

I had no idea until I actually tried to buy a stainless steel Rolex myself a few months ago. In the end I chose to spend my money on another brand.

I wonder how many potential first time Rolex buyers are getting put off the brand because most of what they are supposed to sell is not available. Rolex stores right now in Japan are display cases full of two tone Date Justs in different configurations.

It also irritates me that there are no waiting lists in Japan for anything, so ADs are essentially useless unless they have stock (which they never do). However, I spoke to 2 grey market dealers that said they would be able to get hold of most models new within 10 days if I pay the premium, because 'they have contacts'.

I think the brand is playing games with consumers with the aim of continually increasing their prices. Either way, my experiences as a potential first time buyer really damaged the brand perception to me.