Helzberg Diamonds to selling Rolex

[mrproc]

Hello all!!

We went and got the wife’s ring cleaned and inspected at our local Helzberg Diamonds store, and I started a conversation with jewelers that I was on the hunt for a Rolex…. Well they informed me that they are starting the process to sell them and would find one for me… a couple hours they send me text “ just your luck I found what you’re looking for”
They have a 2013 Submariner date for the low low price of $16k, I then declined their offer and appreciate their time looking into a watch me.
I’m guessing that watch is little overpriced.

[Bxtek]

Interesting. I guess Helzberg operates as a watch grey dealer, along with their regular jewelry business? There are some Helzbergs near me but I have never visited one. $16K for a 2013 Sub date is pretty steep! You can easily find a much better deal elsewhere. I would start with some of the trusted sellers here on TRF.

[Kinnakeet]

Several nice watch stores and AD’s in Indianapolis.

[Duke Nukem]

Sounds like they're starting to sell as a secondary dealer, not an AD.

[enjoythemusic]

Yes, as a secondary / non-AD used retailer

[hutch300]

Sounds like they are in the home run business now at that price.

[trout_thumper21]

That is a ludicrous price.

[1665fan]

Secondary flippers basically…..taxing hard

[Mystro]

That’s high but that is what every other jewelry store is doing. They are also keeping secondary pricing held high and that just validates Rolex factory pre owned certified price point. That’s the market now.

[carwashchris]

Crazy.

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[sherrill]

That’s crazy! The greys here have better prices. I got a 2019 full set 116610LN for 11k. Still has warranty left.

[travisb]

What a deal.

[brandrea]

Aside from the price did you like the watch?

[BraveBold]

Originally Posted by mrproc

Hello all!!

We went and got the wife’s ring cleaned and inspected at our local Helzberg Diamonds store, and I started a conversation with jewelers that I was on the hunt for a Rolex…. Well they informed me that they are starting the process to sell them and would find one for me… a couple hours they send me text “ just your luck I found what you’re looking for”
They have a 2013 Submariner date for the low low price of $16k, I then declined their offer and appreciate their time looking into a watch me.
I’m guessing that watch is little overpriced.

Sounds like they may be sourcing based on your inquiry… taking a price and adding a spread for something they don’t have on hand?

Or did they confirm that they physically have one in stock?

[1William]

Interesting.

[Bartolo]

It's a 2013; it's not "grey" it's "used."

If businesses are looking at CPO Rolex prices and thinking, "I can create a successful business selling those same watches for 10-15% less," then this will end in disaster for them.

If they're not investing capital in creating stock on-hand . . . well it doesn't cost them much at all to fart around (pardon) and source pieces on demand. I just don't see it generating much business for them.

[worldofoyster]

overpriced jeweler

[Oystersteel92]

Kay Jewelers does the same thing in a select few locations. This was before Covid, but I had time to kill before a flight and spent several hours at the Concord Mills mall outside Charlotte. They had several TT 36mm and 26mm Datejusts in a primo corner case.

[Triggerfish]

Why is it that most, if not all, of these jewelers that carry Secondary market Rolex's have absolutely nutty pricing? I stopped at a local jewelry store that had about 30-40 used rolex's and every single one was way overpriced and "non-negotiable".

[BraveBold]

Originally Posted by Triggerfish

Why is it that most, if not all, of these jewelers that carry Secondary market Rolex's have absolutely nutty pricing? I stopped at a local jewelry store that had about 30-40 used rolex's and every single one was way overpriced and "non-negotiable".

They likely don’t but the ones that do are very memorable.

The ones that don’t are likely still priced at a smaller premium (because brick and mortar).

For the walk throughs, some people won’t have any sense of market and may not diligence certain decisions. So that is “free margin” for the seller. A way to price discriminate.

If you walk into Target, the shelf pricing is often 20-50% higher than what they will sell for. Try it. Check the online price - it is often much lower and they can price match to it. Why not offer the lower price at the shelf? Well, the customers that are frugal (me!) will do their quick diligence and buy at the lower price. Those that don’t - few will be making that decision based on market check anyways…

So a win-win.

[Gebbeth]

I don't think there is any restriction on anybody selling used or secondary market Rolex's unless they were acquired by "unclean" methods. BTW, this is the risk of buying from certain sellers in the normal course of this crazy hobby (this, of course is nothing new when buying on this platform or others).

My one and only experience buying a luxury watch from a mass market jewelry chain that normally does not sell secondary market luxury watches was when I got my Planet Ocean Deep Black GMT. The watch was authentic and in good condition. The exterior box was a bit beat up, but not that bad. It had the original warranty card but was missing the Pictogram card. Otherwise, it had everything else.

But that was the best thing they had, and so I suspect it's a bit hit and miss, and the selection can be thin. I don't think I would do it again unless I found another sweet deal/bargain, but even then, I might pass. There was too much anxiety about it for awhile afterwards.

Also, yes, $16k for a 2013 Sub is not a fair or even valid price.

[1665fan]

Originally Posted by Triggerfish

Why is it that most, if not all, of these jewelers that carry Secondary market Rolex's have absolutely nutty pricing? I stopped at a local jewelry store that had about 30-40 used rolex's and every single one was way overpriced and "non-negotiable".

Their target customers are idiots who don’t know the market

[MILGAUSS88]

Originally Posted by Triggerfish

Why is it that most, if not all, of these jewelers that carry Secondary market Rolex's have absolutely nutty pricing? I stopped at a local jewelry store that had about 30-40 used rolex's and every single one was way overpriced and "non-negotiable".

They are on consignment from a dealer.
So the jewelery store will be paying full gray market price, then they have to tack on their profit.

They cannot get that kind of inventory locally and at wholesale prices.

They probably cannot tell a real Rolex from a fake.

And it may help bring in customers, who otherwise would not visit their store.

[jacowestt]

Interesting experience! It sounds like they really moved quickly on that offer, but if it felt overpriced, it’s smart to hold off. Keep searching.
I’m sure the right one will come along!

[RichardF]

25 years ago I worked for a Rolex AD. They were located in a large mall that had a Helzberg as well. I can remember the quality of the diamonds and jewelry Helzberg had was not so good then.
What is interesting is at times it can be cheaper and safer to purchase a Rolex from a CPO Rolex dealer which have the 2 year international Rolex warranty attached than buying a Rolex from questionable sources or a flipper/grey market seller.Even more interesting is I am starting to see former Rolex dealers now obtaining brand new in the box Rolex watches with all the plastic stickers attached with blank warranty NFC cards such as subs and other hard to get models. It looks like more AD's may in fact be selling some of their allotments out the back door to these former dealers.

[TonyD]

Local jewlers are always like that. They have tons of two tone DJs with aftermarket diamond bezels. Every one. Just garbage with crazy prices. All come in green color junk boxes.