The Far East (HK) visitors are buying everything

[CharlesN]

I have just this morning visited one of the AD's I use fairly frequently.

I went in to collect a new leather strap for my DD.

Whilst there, I always have a coffee there whilst chatting, 4 Far East (It turned out from HK) people walked in.
2 men and 2 women.

They looked at the cases with Rolex watches in them.

and then went on what i can only call a "berserk: shopping spree.

They bought 6 TT Datejusts. Some YG and some RG.
Then it was on to the ladies watches .. 3 Stainless steel datejusts.
Then two Day-date one in WG and one in YG.
Then just one YG YM II
Then they asked for the more sought after models.
They wanted 2 of each colour GMT (They did not get them)
2 Sub Dates (Again they did not get them).
2 Sub No dates (same again)

I know my AD had some of the watches they wanted tucked away in the safe.

I have a VERY good relationship with this AD .. He often gets me what I want - sought after model or not - He knows i don't flip watches ever, so we chatted some more whilst they finished their buying frenzy and paid for everything.

They admitted quite openly they they are flying back to Hong kong tomorrow with all of the watches and some others they had already bought and they were going to be resold. They said they were disappointed that they had not picked up a single "Special" piece on their travels.

I don't think my AD did anything wrong. He can sell DJ's etc and he can get more as there does not seem to be much of a shortage of these.

He kept the "Special" pieces for his pre-existing customers who have already ordered the watches he has in the safe.

But ... What a sale.

[jsausley]

They spent $150k+ and the dealer didn't even pull out a single Submariner for them?

I don't know, man.

[schoolboy]

Originally Posted by jsausley

They spent $150k+ and the dealer didn't even pull out a single Submariner for them?

I don't know, man.

You’re right, sounds kind of crazy, but why would the OP lie to us?

But yes I agree, should’ve pulled out a SS sub, or a Tudor GMT at least.

[Luap1976]

Originally Posted by jsausley

They spent $150k+ and the dealer didn't even pull out a single Submariner for them?

I don't know, man.

Ha ha nice

Im from uk and here if your not a local you can't have hot steel watches. So these Chinese couple would not be allowed the good steel pwatches anyway even wasting 150k on stuff they don't want

I'm glad they did not pull out a steel sub hulk etc etc as they are obviously flippers

[Old Expat Beast]

Strange. They could have bought all that less desirable stuff in HK.

[FreshPrince14]

I've noticed ADs in Western European countries now displaying signs throughout their stores in Chinese which appear to give information on VAT back etc.

Kind of unusual but makes sense when you consider the high volume of Far East visitors.

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[glamorama]

This is what I've been saying.. same all over Europe.

[faimag]

Originally Posted by Luap1976

Ha ha nice

Im from uk and here if your not a local you can't have hot steel watches. So these Chinese couple would not be allowed the good steel pwatches anyway even wasting 150k on stuff they don't want

I'm glad they did not pull out a steel sub hulk etc etc as they are obviously flippers

You probably missed the point that they actually wanted the watches they bought, as they were reselling them (or had already sold them) back home. If they insisted or played the game differently, say "I am only going to buy these if" I am sure that AD - and any AD for that matter - would sell them anything, whether being local or not.

[jsausley]

Originally Posted by Luap1976

Ha ha nice

Im from uk and here if your not a local you can't have hot steel watches. So these Chinese couple would not be allowed the good steel pwatches anyway even wasting 150k on stuff they don't want

I'm glad they did not pull out a steel sub hulk etc etc as they are obviously flippers

Sure but in reality, why would an AD care? Most of them are selling backdoor to gray anyway so who cares where this couple is from?

Not saying it didn't happen but why on earth any AD would operate this way, I have no idea. Just be upfront with people. Tell the plebs like you and me that the watches are reserved for VIP clients and then bring them out to play whenever a big spender like above walks in.

Unless they truly didn't have the watches in the first place, but I don't buy that unless they had just gotten cleaned out by someone else right before.

[Jake B]

What would be the point of buying & reselling those when they can get the same ones tax free here with a %5 discount at any AD and greys sell all the above mentioned at a considerable discount? Sorry...but doesn't add up.

[Luap1976]

Originally Posted by jsausley

Sure but in reality, why would an AD care? Most of them are selling backdoor to gray anyway so who cares where this couple is from?

Not saying it didn't happen but why on earth any AD would operate this way, I have no idea. Just be upfront with people. Tell the plebs like you and me that the watches are reserved for VIP clients and then bring them out to play whenever a big spender like above walks in.

Unless they truly didn't have the watches in the first place, but I don't buy that unless they had just gotten cleaned out by someone else right before.

I guess your right tbf.the ads are the cause of all the problems really selling out the back door.but not all do this but I would say a hell of alot do that

[CharlesN]

They will get all of the. aT back when they depart the UK

Apparently that will make the watches a bit cheaper than they can buy in HK.

They are obviously grey sellers back home.

[Jake B]

Originally Posted by CharlesN

They will get all of the. aT back when they depart the UK

Apparently that will make the watches a bit cheaper than they can buy in HK.

They are obviously grey sellers back home.

Would have to make them a LOT cheaper to be worthwhile for the exchange, travel, reclaiming tax all for watches that greys sell at a considerable discount.

[hbk75]

Originally Posted by jsausley

They spent $150k+ and the dealer didn't even pull out a single Submariner for them?

I don't know, man.

The ad doesn't sound too friendly to me.

[InitialAndPitch]

In Australia (and no doubt elsewhere), there’s a group of Chinese buyers/sellers called Daigou. They trade in commodities - the most contentious at the moment is baby formula. Groups of Daigou wait to be first to enter supermarkets when they open and head straight for the baby formula section and buy the lot. The shop is cleaned out instantly.

The retailers have imposed a two to four can limit per customer so they come in groups of ten. They export back to China for a lucrative margin. There are concerns in China about product contamination in local brands. So it’s not just watches.

[hbk75]

Hong Kong is the rolex capital. They have alot of ads selling Rolex in Hong Kong.

[nuts070]

I don't think these guys are from Hong Kong. I'm from the Philippines and I buy my watches at Hong Kong and I get hot pieces with a lot less than the money shelled out by those said by the OP. With their kind of spending, they will get those pieces in Hong Kong. And those date justs will be at a discount.

[fullofboats]

Those tourists couldn't be grey sellers.
1. They bought a bunch of models that sell at a discount to retail value...and are plentiful in HK
2. Hong Kong has no sales tax so getting VAT back overseas still doesn't make it cheaper
3. If they were flippers they would've asked for the hot models first, then offered to spend $150k...

They must have just wanted the watches they bought

[SlideRacker]

Terrible negotiators. I would have had a field day with that one and enjoyed every minute.

[SeaAndSky]

Originally Posted by schoolboy

You’re right, sounds kind of crazy, but why would the OP lie to us?

But yes I agree, should’ve pulled out a SS sub, or a Tudor GMT at least.

I disagree. Clearly these people are buying for all the wrong reasons to us wis types. Save the desired models for the people who will keep and appreciate them.

[Jake B]

Originally Posted by fullofboats

Those tourists couldn't be grey sellers.
1. They bought a bunch of models that sell at a discount to retail value...and are plentiful in HK
2. Hong Kong has no sales tax so getting VAT back overseas still doesn't make it cheaper
3. If they were flippers they would've asked for the hot models first, then offered to spend $150k...

They must have just wanted the watches they bought

Exactly...or, the story is just total hogwash.

Originally Posted by nuts070

I don't think these guys are from Hong Kong. I'm from the Philippines and I buy my watches at Hong Kong and I get hot pieces with a lot less than the money shelled out by those said by the OP. With their kind of spending, they will get those pieces in Hong Kong. And those date justs will be at a discount.

That's right.

[glamorama]

Strange that some of you do not believe the story, why would it not be true? It is just an observation.

Checked the prices for a DJ36 in Hong-Kong, 5460GBP equivalent in todays currency according to the price sheet provided here on TRF and in UK retail is 5350 GBP. Assume you get same discount. Deduct VAT (20% in UK?, don't know how much you get back) and although not a spectacular deal it certainly is cheaper.

[GFONG]

All the models listed are not hot models. It is easily obtained in Hong Kong. I guess they are from China.

[bondtoys]

Originally Posted by Old Expat Beast

Strange. They could have bought all that less desirable stuff in HK.

It would have been much more expensive for them in HK.

The prices are slightly higher in HK and in the UK, they get the VAT back, so they are saving roughly 15-20% against HK prices

[Zakalwe]

Originally Posted by jsausley

They spent $150k+ and the dealer didn't even pull out a single Submariner for them?

I don't know, man.

A good salesman would’ve clocked that they were going to buy their TT’s and DJ’s regardless. Any salesman with functioning eyes and ears would’ve clocked the fact that these were unlikely to be local, potentially repeat customers.

It would’ve been a poor salesman who sold an allocation piece to the people described.

[Moggo]

I for one am glad he kept the ‘special’ watches away from them.

Just because they spent X amount people think they are entitled?

Nice to see the rich not getting their way.

No chance, good on him


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[Muxi]

Maybe some Asians are just affluent.

[schoolboy]

Originally Posted by SeaAndSky

I disagree. Clearly these people are buying for all the wrong reasons to us wis types. Save the desired models for the people who will keep and appreciate them.

I understand.

It’s tough for everyone right now, except grey dealers perhaps.

[samson66]

Same thing at my AD. Last time I was there, all Asians at the counter. I didn't notice anyone hoarding watches but I'm told it is like that every day with (primarily) Chinese flying in and buying watches and flying back.

[Abdullah71601]

Originally Posted by Moggo

I for one am glad he kept the ‘special’ watches away from them.

Just because they spent X amount people think they are entitled?

Nice to see the rich not getting their way.

No chance, good on him


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I for one doubt he had any special pieces in the safe. Why would they not yet have been sold to his special customers? Sounds like another AD story to schmooze a customer.