Will AP ease resale restrictions?

[APhound]

My friend sold two of his watches, a royal oak chrono and a steel code, that he bought last year. They found out within like three weeks and he got a call from his guy and told him they were not happy- he is not supposed to sell them within the first two years. He told them Ferrari made him sign something to that effect and AP did not- the call did not go well.
Anyway.. just one data point.


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[watchman124]

Originally Posted by APhound

My friend sold two of his watches, a royal oak chrono and a steel code, that he bought last year. They found out within like three weeks and he got a call from his guy and told him they were not happy- he is not supposed to sell them within the first two years. He told them Ferrari made him sign something to that effect and AP did not- the call did not go well.
Anyway.. just one data point.


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They say what the ramifications were?


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[messikens]

Originally Posted by watchman124

They say what the ramifications were?


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I'm sure you'll find out by the lack of calls for available pieces or pieces he registered "his interest" for what the ramifications are...

Don't call us, we'll call you. Of course THAT call shall never come

[NYG1121]

To ease restrictions, AP will first have to be able to sell the watches they make...

I think the climate has changed for majority of the pieces from that brand and they would be silly to care anymore.

[shammad10]

Not sure how they can justify doing official videos with one of the biggest grey market dealers going if they don't want people to sell their watches.
Their comms and messages are all over the place.

https://www.youtube.com/watch?v=00BREVuJAIo

[In-N-Out]

Originally Posted by shammad10

Not sure how they can justify doing official videos with one of the biggest grey market dealers going if they don't want people to sell their watches.
Their comms and messages are all over the place.

https://www.youtube.com/watch?v=00BREVuJAIo

very odd guest to have. Nico is probably the most annoying "influencer" on YouTube, but I guess he has a big following from Gen Z kids, a demographic that AP is trying to appeal to

Maybe AP is trying to work with gray dealers to understand the dynamics in the secondary markets to launch its own used program that Francois hinted at a few years ago (?)

[ATO]

Originally Posted by shammad10

Not sure how they can justify doing official videos with one of the biggest grey market dealers going if they don't want people to sell their watches.
Their comms and messages are all over the place.

https://www.youtube.com/watch?v=00BREVuJAIo

Not a fan of him so I found this choice very strange.
Leonard does have a lot of followers thought....

[c3pastor]

To lift restrictions, AP needs to be able to sell the watches they produce first. I believe the market situation has changed for most of those brand pieces, making it unnecessary for them to worry anymore


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[dauster]

Originally Posted by shammad10

Not sure how they can justify doing official videos with one of the biggest grey market dealers going if they don't want people to sell their watches.
Their comms and messages are all over the place.

https://www.youtube.com/watch?v=00BREVuJAIo

I don’t think it’s that deep. I just don’t think there is anyone at AP that has a clear vision. It seems to me some executives get together and decide whatever hot celeb / fashion designer collab is next. Same goes for this video - probably thought watch Nico has some cloud so they did a video.

Boutiques may or may not be corporate owned and kinda do whatever they want.


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[WatchEater666]

Nico has room temp IQ at best.

[APhound]

Originally Posted by watchman124

They say what the ramifications were?


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“We need to take a break for a little bit”


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[impactplayer]

Originally Posted by APhound

“We need to take a break for a little bit”


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I would just have to laugh out loud if they uttered that absurd phrase in the context of being a customer who purchases watches in exchange for money.

[APhound]

Originally Posted by impactplayer

I would just have to laugh out loud if they uttered that absurd phrase in the context of being a customer who purchases watches in exchange for money.

He spent at least $200k there.
The odd thing, to me at least, was the grey dealer he sold them to is the one who registered them which I don’t really get but whatever.


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[Verticalforce]

Originally Posted by APhound

He spent at least $200k there.
The odd thing, to me at least, was the grey dealer he sold them to is the one who registered them which I don’t really get but whatever.


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Yeah happened to me when I sold 15500 to grey dealer as well (I traded it for Jumbo which is my exit watch so I don't care).
Grey will register it to double check validity and make sure everything checks out (even if they viewed screenshot of the registration and I login infront of them). Anyway once you sold you have no more control and they can do whatever they want.

[paneristinewb]

Originally Posted by Verticalforce

Yeah happened to me when I sold 15500 to grey dealer as well (I traded it for Jumbo which is my exit watch so I don't care).
Grey will register it to double check validity and make sure everything checks out (even if they viewed screenshot of the registration and I login infront of them). Anyway once you sold you have no more control and they can do whatever they want.

Curious how long you waited before selling. And how did the conversation go when AP reached out to you?


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[NYG1121]

I sold my 26315 after 2 years of regular wear because I couldn’t get anything else from boutique nevermind even a return text. Will just pick up a jumbo grey eventually as thats all I want anyway. AP is going to have to do some serious rethinking of their strategy because I know I am not the only one who will refuse to go there anymore

[SpeedyTuomas]

Unsure about this. Where do they think all the 11.59s end up that people are forced to buy in order to eventually get a watch that they do want?! Im not planning to sell my RO but I don't think that concerns anyone but the owner.

[Halothane]

Originally Posted by SpeedyTuomas

Unsure about this. Where do they think all the 11.59s end up that people are forced to buy in order to eventually get a watch that they do want?! Im not planning to sell my RO but I don't think that concerns anyone but the owner.

They don’t care where they end up. They are just happy they can push these overpriced ’s on people who hope to get one of their sought after pieces. Since Francois left, seems like a real sh!t show - a bunch of DEI hires with zero knowledge of watches and zero concern for clients who existed long before they were hired.


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[SpeedyTuomas]

Originally Posted by Halothane

They don’t care where they end up. They are just happy they can push these overpriced ’s on people who hope to get one of their sought after pieces. Since Francois left, seems like a real sh!t show - a bunch of DEI hires with zero knowledge of watches and zero concern for clients who existed long before they were hired.


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Outch. Probably not unfounded criticism.

[Mbbgysam]

Originally Posted by Halothane

They don’t care where they end up. They are just happy they can push these overpriced ’s on people who hope to get one of their sought after pieces. Since Francois left, seems like a real sh!t show - a bunch of DEI hires with zero knowledge of watches and zero concern for clients who existed long before they were hired.


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Who are the DEI hires?

[Verticalforce]

Originally Posted by paneristinewb

Curious how long you waited before selling. And how did the conversation go when AP reached out to you?


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2 years+

AP never reached out to me as my SA has left, and new SA kinda ignored me, so that made my decision to sell easier.
I just assumed I am blacklisted but don't really know as I think no one really looks at my profile haha

[salnuaimi]

Guys. one info is very important the SA doesnt get his full bonus if he decided to sell to someone who resold a piece !

[messikens]

Originally Posted by salnuaimi

Guys. one info is very important the SA doesnt get his full bonus if he decided to sell to someone who resold a piece !

Unless you have a firm policy handy I think it's arbitrary / punitive abs speculative at best

[l_chissle]

Originally Posted by salnuaimi

Guys. one info is very important the SA doesnt get his full bonus if he decided to sell to someone who resold a piece !

It's a factor in their bonus, but one person selling a piece the SA sold does not translate to this

[lucasalce]

Is this SA bonus (if clients don't resell) a real thing?
Was this SA from a boutique to AP house?

[Vivalas]

Originally Posted by salnuaimi

Guys. one info is very important the SA doesnt get his full bonus if he decided to sell to someone who resold a piece !

Is that actually true?

I guess it could only happen if a watch was sold fairly quickly, unless . . . . .

Manager: Dave, you know that code you sold to Colin 3 years ago?

Dave the SA: yes boss I remember.

Manager: well the dudes flipped it, we’re recalling your bonus!

[watchman124]

Not gonna lie - it’s pretty frustrating they take a hard stance on these shitty Codes and Offshores but I’m starting to see flipped John Mayer perpetual and have already seen flips of the new Skeletons getting offered….


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[messikens]

Originally Posted by watchman124

Not gonna lie - it’s pretty frustrating they take a hard stance on these shitty Codes and Offshores but I’m starting to see flipped John Mayer perpetual and have already seen flips of the new Skeletons getting offered….


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Good lord that's true. Checking it out to see what they're looking for.

Tbh I'm not sure they can really maintain the restrictions - first ROO now for less than $30k US based and it's a ceramic bezel one, and that's on Chrono...

Still amazed how much the AP market has just been taken an absolute beating in the last couple of months

[Vince_76]

Originally Posted by messikens

Still amazed how much the AP market has just been taken an absolute beating in the last couple of months

Same - it’s quite eye opening. The market as a whole needs to continue to (and will) come down to earth, but there’s no question that the AP ship is sinking faster than any other. It would ignorant of us to think that this isn’t a focal point of the conversation at Le Brassus.

It’s hard to swim upstream (against the current of falling prices) but there is a range of outcomes that will be dictated on some key decisions the company has to make.

[mickyd329]

I think the only way out is to decrease production across the line up for AP. Reducing prices can have consequences that might be hard to recover from. I agree with the sentiment that they missed the mark on CODE pricing. It was definitely a missed opportunity.