Discount on Rolex (and im a new member)

[chenx15]

Originally Posted by DoxaDavid

X2. This whole thread reeks of Trolldom. I was excited at first of the prospect of a new member with intimate knowledge of Rolex as an official watchmaker. Might have added some interesting insight into several area's. Now I think the guy is a jerk and could care less what he has to say. His opinions are so far from a rational, defensible point, I wouldn't be able to lend credence to any further thoughts of his.

I think I saw his picture on another forum. Looked like this:

David! you just scared the C out of me with the image!

[JJ Irani]

Originally Posted by chenx15

David! you just scared the C out of me with the image!

Handsome bugger, ain't he?

[watchmaker]

I am pleased so many of you were concerned with my disappearance.
Indeed, it was bed time for me last night.

Having had time to cool off, and time away from so many opinions, I have gathered my thoughts, and indeed, there are a few corrections I would like to make.

Grey watches....difficult to trace, not destroyed. However, if they are found to be grey, the are disowned. ie, no warranty.

Black market...stolen, and rolex will hapily destroy their own watches to protect their market.

As for customs. Indeed, if an officer suspects you are smuggling a watch, Rolex have orders that they be destroyed on site.

And i am no troll. Just have to get up early for work. But ill remember to give each of you a kiss goodnight next time :)

Despite all of this, I am as rolex mad as the rest of you, and hope we can be friends

[watchmaker]

Originally Posted by MaxilloFacial

unlike what someone said before about watchmaker being more concerned about money than the art of a watch, i believe that its the exact opposite. The argument is not based on the pros and cons of capitalism for the consumer; rather its the opinion of an artist regarding his or her artwork. When the work is completed, although ideally priceless in the mind of the artist, its "market" value will always be insulting for that artist. So now that set prices are given (proposed retail price), the thought of further devaluation is sort of adding salt on the wound.

In any case watchmaker can rest assured, at least sometimes, that some of those watches that sold for less than what he wants eventually become collector items and sell for a lot more. This isnt that common though...

About the warranty, this can be a difficult analogy to understand but here it goes:
you buy a painting made by the artist versus an official second made by his student but signed by him. Personally he can trust his own work and will assure you of it, but the other one (a watch with no warranty) can be good but... its not showing its true value with creator support and passion.

anyways literature was never my forte!

and i would like to point out, I belive you have hit the nail on the head. Many of my colleagues all feel the exact same as I do. Our hard work, be it in manufacuture, or repair, is undermined by any discount offered.

so im sorry, but i have a biased opinion (as you all do) and nothing will change that.
mabey i cant justify why you should pay full price, but then neither can you justify why you dont.

now lets be friends

[watchmaker]

Originally Posted by DoxaDavid

X2. This whole thread reeks of Trolldom. I was excited at first of the prospect of a new member with intimate knowledge of Rolex as an official watchmaker. Might have added some interesting insight into several area's. Now I think the guy is a jerk and could care less what he has to say. His opinions are so far from a rational, defensible point, I wouldn't be able to lend credence to any further thoughts of his.

I think I saw his picture on another forum. Looked like this:

Im glad you got my good side.

[chenx15]

Originally Posted by JJ Irani

Handsome bugger, ain't he?

Thanks for clearing it up JJ, so that's david's actual picture before he got the solid gold GMT???

[coddger]

Originally Posted by karmatp

If they were not upping their prices every year, I wouldn't care about a discount. They are selling the same sub they sold 5 years ago for a couple of grand more now, how is that fair?

Amen !!

[wantonebad]

Originally Posted by watchmaker

I am pleased so many of you were concerned with my disappearance.
Indeed, it was bed time for me last night.

Having had time to cool off, and time away from so many opinions, I have gathered my thoughts, and indeed, there are a few corrections I would like to make.

Grey watches....difficult to trace, not destroyed. However, if they are found to be grey, the are disowned. ie, no warranty.

Black market...stolen, and rolex will hapily destroy their own watches to protect their market.

As for customs. Indeed, if an officer suspects you are smuggling a watch, Rolex have orders that they be destroyed on site.

And i am no troll. Just have to get up early for work. But ill remember to give each of you a kiss goodnight next time :)

Despite all of this, I am as rolex mad as the rest of you, and hope we can be friends

Not what you said yesterday

[The Mole]

I think I am in the minority, however I for one am glad that Rolex raises prices and regulates discounts. This keeps the value of the watch extremely high, and if you decide to be a flipper you not only lose very little, if you have had the watch for a few years, you may even come out ahead.

There are very few products that you can use every day for four or five years and sell for about what you paid for it, if not more.

[chenx15]

Originally Posted by The Mole

I think I am in the minority, however I for one am glad that Rolex raises prices and regulates discounts. This keeps the value of the watch extremely high, and if you decide to be a flipper you not only lose very little, if you have had the watch for a few years, you may even come out ahead.

There are very few products that you can use every day for four or five years and sell for about what you paid for it, if not more.

i'm with you my friend. price increase secures our "investment"

[zseriessub]

Meh, if I want a Rolex, I want to pay the least amount of money for it as I possibly can. Any argument about it undermining the value of the watch or whatever, I don't buy because that's all subjective.

[Marrk]

With all due respect to the OP, it seems that the original post doesn't give much consideration to the laws of supply and demand. Discount or no discount, a watch is only worth what someone is willing to pay for it. If I offer $5 for a seller's Daytona, and there are no other buyers, then the seller's Daytona is worth $5. But if another buyer offers $50,000 for the same Daytona, then the seller's Daytona is worth $50,000. The market is "free" to the extent that no one is holding a gun to anyone's head and forcing them either to sell or to buy.

With regard to Rolex price increases: It has been argued that continuing increases in MSRP preserves the value of Rolexes in general. I wonder if this is true, since the used market doesn't appear to reflect this (for example, 16710s are not holding the high prices I would have expected). Also, price increases or not, we are still talking about a company that produces hundreds of thousands of watches each year. That's a lot of supply for an "exclusive, luxury item" and a "status symbol." (Note on Rolex as "exclusive": the woman ringing up my groceries at Mayfair Market yesterday was wearing a TT Lady's DJ.)

[DSJ]

This has been an interesting read. I have bought all my new high-end watches at significant discount from AD's, who even extend the warranty. This is good business for both parties!

[candycandy]

As someone has already said: Supply and Demand.

Simple.

Last I checked, nobody was putting a gun to AD's head as he was selling Rolex. Nobody held a gun on my head when I bought my Rolex...

Free will. Supply and Demand.... Simple.

[pitterpatter]

see the diferance is you being in the buisness you are allready getting DISCOUNT ON THE WATCH. i have friends that work in high end watch stores and all they do is brag. these watches that we spend thousands on are they really worth it. to most but i agree everybody deserves to get some kind of break. plus the watches cost less than 25% to produce, with all the hands involved, everybody needs to get paid.

[A1000]

So how did Rolex earn their last price increase? I don't believe any of the guys in Geneva have done anything additional.

I like most/all people here would take our hats off to the guys who design, make, maintain our fine timepieces as it takes talent and skill. Just because a person tries to negotiate a discount doesn't mean that they don't see the quality.

In the current climate some dealers are finding it really challenging to stay in business particularly when a number of the manufacturers may be trying to ensure that the ADs maintain a "full" stock. Most businesses in the current climate will be trying to minimise stock and turn it as fast as possible, why shouldn't ADs? At the end of the day as others have said it comes down to supply and demand no matter how the manufacturer tries to control the market.

[mfer]

How about another AD point. The ones that gauge clients for Daytonas.

1. You buy two other watches and I'll let you buy a Daytona.
or
2. You can buy this new Daytona for $14,000.

Goes both ways. aka supply and demand.

[f16570]

Took me so long to read it I got kicked out. Now what did the OP start with.
Discounting does not eroded the value of the product, it most certainly does not devalue the brand.(just look at BMW). Does it devalue the people who sell market, service and repair the product, NO not in the least.
In any consumer based retail industry we must remember that the customer is key not only to our current survival but also the future of business.

[Andad]

I spoke to an AD regarding the price of a Pam 330. Aus$151300. I give them a deposit and they order in the watch - delivery could be October.
My first thought was - 'There must be some room to move on that list price'.

That makes me a bad person with no regard for the Company who manufactures the item and then sends it to a retailer who makes another profit on it.

I am ashamed of myself.

[springer]

Originally Posted by watchmaker

Hi, im a new member.
I tried a post yesterday which didnt get past the administrators. So I appologize for that one.

To let you know about myself, I am employed by one of the major watch houses (im not saying who) as a watchmaker. I have many friends who are employed both as watchmakers and as salesmen in watch stores. So basically I am very tied into the industry.

My question is, why are there so many posts about how to get a discount on a Rolex? Do you think they are too expensive? Seriously, im not being judgemental, I would like to know why an important factor in what you buy is how much you can get off it.

Can I have you opinions. For and against.

I think it might be human nature. Not everyone likes to brag about how much they paid for something, let alone pay retail. Many would rather boast about the deal they received when the purchase was made.

Doesn't everyone love a deal????

[JJ Irani]

Originally Posted by directioneng

I spoke to an AD regarding the price of a Pam 330. Aus$151300. I give them a deposit and they order in the watch - delivery could be October.
My first thought was - 'There must be some room to move on that list price'.

That makes me a bad person with no regard for the Company who manufactures the item and then sends it to a retailer who makes another profit on it.

I am ashamed of myself.

Right, Eddie.....and the next time you're in Auckland, remind me to give you rap across your knuckles!!

[ijen0311]

can I have the last 7 minutes of my life back that I've spent reading this thread?

I'll take them without a warranty

[DoxaDavid]

Originally Posted by chenx15

Thanks for clearing it up JJ, so that's david's actual picture before he got the solid gold GMT???

He wasn't refering to me..Thanks Bro!

[TempoKing]

Originally Posted by watchmaker

My question is,
why are there so many posts about how to get a discount on a Rolex?
Do you think they are too expensive?
Seriously,
im not being judgemental, I would like to know why an important factor in what you buy is how much you can get off it.
Can I have you opinions. For and against.

Welcome to TRF

Why it is important to try and buy at the lowest possible price..

First, because of the "chase" factor..love to travel the mountains
of Nepal in search of a Rolex dealer and buy the entire stock
right there and then...at a discount of course.

Also, because something is worth ...what someone is ready to pay FOR IT
It really balances corporate greed to market true value.

About letting your fellow TRFers know who you work for.
Personally I would want my employees to let the entire world know who they
work for and with...but then this is me...extremely democratic and
equal among equals.

[Nica64]

I want a new Rolex please!!!



But I want 15% off!!!

[Deep Sea]

Supply & demand, free market, ummmm. Eroding the value of the product because of a discount? You're kidding right? One of the last AD's I visited offered me the same discount on a Patek Aquanaut as he was willing to give me on a Rolex Sub. I don't see how it erodes the value when the market for their product has contracted.

Pretty simple if you ask me...bad economy = discount. Lower demand = more supply. AD's need to see cash flow, so they are finally willing to discount. I've had one AD in NC flat out tell me they (as a jewelry company/store) have chosen to ignore the Rolex 'suggestion' of no discounting, as without the discount, they would not move nearly the amount of watches they needed, and Rolex was continuing to ship watches to them whether they wanted the watches or not.

When the economy was flush, AD's were more than willing to turn me away if I even asked them to discount the amount of the tax. Now they are calling me asking me if I'm interested in 15% off the same model. I'm more than happy to tell them my magic number is 27% now...20% discount, plus another 7% to cover tax. Amazing how the tides have turned, huh? BUT, I'm sure this is short-lived, so I say get while the gettin' is good!

HOWEVER, I'll also gladly forego some of my magic 27% for better/good customer service. Or, I'll just stick with grey market now, as they'll still be there when the markets turn around, and I'm not sure the same can be said for all the AD's, especially for the bull-headed ones.

Cheers!

[chenx15]

Originally Posted by DoxaDavid

He wasn't refering to me..Thanks Bro!

I know david.

[scooba]

IMHO a item is only worth what you can get for the said item,It is no secret that Rolex AD are making around 40% on a watch again imho thats way to much .Certain Rolex watches are hard to find ie ss daytona -milgauss gv,And that is how Rolex have made it and want it to be .

Now ADs are also supplying greys 100% sure they are several years ago i was in Greys antique market london when a parcel arrived from France it had two ss daytonas two lv subs one sd and one subdate ,This was when there was a shortage of sports rolex.The guy made no secret he buys from loads of french ADs

How could BJSonline manage to get 100 ss daytonas together to do the pro hunter range ? 100 DSSD ? 100 GMTIIC ?? 100 Sub dates 100 16570 gmts .

[sorrentinog4]

where the hell can i find my local black market?

[ocwatching]

Originally Posted by Deep Sea

Supply & demand, free market, ummmm. Eroding the value of the product because of a discount? You're kidding right? One of the last AD's I visited offered me the same discount on a Patek Aquanaut as he was willing to give me on a Rolex Sub. I don't see how it erodes the value when the market for their product has contracted.

Pretty simple if you ask me...bad economy = discount. Lower demand = more supply. AD's need to see cash flow, so they are finally willing to discount. I've had one AD in NC flat out tell me they (as a jewelry company/store) have chosen to ignore the Rolex 'suggestion' of no discounting, as without the discount, they would not move nearly the amount of watches they needed, and Rolex was continuing to ship watches to them whether they wanted the watches or not.

When the economy was flush, AD's were more than willing to turn me away if I even asked them to discount the amount of the tax. Now they are calling me asking me if I'm interested in 15% off the same model. I'm more than happy to tell them my magic number is 27% now...20% discount, plus another 7% to cover tax. Amazing how the tides have turned, huh? BUT, I'm sure this is short-lived, so I say get while the gettin' is good!

HOWEVER, I'll also gladly forego some of my magic 27% for better/good customer service. Or, I'll just stick with grey market now, as they'll still be there when the markets turn around, and I'm not sure the same can be said for all the AD's, especially for the bull-headed ones.

Cheers!

My sentiments EXACTLY!