I BOUGHT A SUBMARINER NEW FROM THE AD...and with Rolex's new patent masterplan, I'd get blacklisted!
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- Опубликовано: 28 сен 2024
- I've just bought a Rolex Submariner brand new from an Authorised dealer for £9000 and yes i'm going to flip it straight away! But Vinny I hear you ask, you’re an independent dealer - what if Rolex discovered that an AD sold you stock knowing you intend to sell and profit? Its possible, How possible? Well its soon to get a lot more possible with the brand dropping their latest bombshell- they may have just made a power move that could flip (excuse the pun) the luxury watch world on its head.
First they launched their Certified Pre-Owned program to tap into the massive profits grey dealers were making. Then, by acquiring Bucherer, they effectively cut out the wholesaler AD’s and began selling directly to customers.
Now, Rolex is entering phase three of their master strategy: tightening its grip on the primary, grey and aftersales service markets. Is this their final step toward total domination? And how will it impact collectors like you?
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Getting rid of crooked grey dealers who buy watches with dubious origins and no papers can only improve and secure the buyers market.
If implemented correctly this will kill off the flippers who sell directly from the AD to muppet boiler room dealers. You see, once this system is in place it will be mandatory to assign every watch sold to the person who bought it creating a database of transactions. If someone comes in and buys a watch and flips it their name is forever on that watch. If the only way to change ownership is through Rolex the person who original bought the watch is screwed. They will not be able to hide from Rolex. The minute your name pops up multiple times to change ownership you’ll get flagged and banned from purchasing at an AD at retail. People will be less inclined to sell to anyone other than Rolex or an AD because their name stays on the watch if you go to the grey. No one wants their information floating out there with a stranger. Only idiots buy naked expensive luxury watches because they could be worthless Frankenstein watches or even worst, stolen. Yeah, it’s a wrap. The chokehold is almost fully in place and flippers will go night night 😂
Even worse for the collector is that the AD will set the trade-in price. So in today’s market you prosper from competition to buy your watch. If Rolex sets it through its AD network, Rolex can grab it at a price it sets. I bring this up because when you buy a Rolex at the AD, the AD only sells new Rolex and CPO at a fixed price that is not negotiable.
If I had a brand new car, I would want it to have a full service history from the manufacturer’s, so when I sell it it’s worth more…surely that would be the same with my Rolex, especially with NFT chip in the warranty card/service card, as you scan it it tells the buyer what’s been done, a full run down of the history of that watch.
What’s wrong with that?
nothing particularly, i discuss all angles of interpretation in the video…
@@vinnyfrancis yeah I understand that pal, am just pointing out it’s like a cars service history and it’s always worth more with a full manufacturer’s service history
Filing a patent application is an attempt to prevent Rolex’s competitors from using similar technology.
Exactly. Apple has hundreds (thousands?) of patents for things they have no desire to pursue.
At the end more watches are sold through grey dealers anyway so most people won't use the system.
Most Rolex buyers buy to flip so this system will destroy their incentive to buy and will probably crash the Rolex market in the long run because it won't be profitable to buy a Rolex.
So youre a boiler-room grey market dealer but the TWMID. Anybody who pays a grey dealer above retail for a watch is first class fool. You only use grey market dealers to buy watches at steep discounts because brands other than Rolex take a huge depreciation hit.
my office space is much nicer than a boiler room, so not really pal
Will be happy to see you guys gone.
lovely, thanks for stopping by…would you be happy to see the objective and informative content disappear too?
Boiler room whats that?? Strange people. Nice review Vinny
@@vinnyfrancisno idea why people watch your videos if they’re just going to be mean! It’s all good fun and informative content!
A HPI system for watches…… not the worst idea in the world. Potentially they may be able to attach whether a pre owned was taken out through financing channels etc too. Could protect owners in a lot of respects with the high levels of crime towards watch owners and make the watches impossible to re-sell on the grey market. Quite like the idea. Yes it’ll balls up the grey market resell in a lot of ways but protection for the owner is interesting. Wonder how long until they add trackers to the watch that can be tracked through an app. Sure that’ll be a step they’re considering.
If Rolex made their warranty non-transferable, this would end the flipping overnight. Their plans, however, will do nothing to slow the super clone market
Vinny is a smart guy.
hey gshock! i’m sure i’ve seen you on Tims stream, great collection by the way! cheers and all the best
Rolex acquiring Bucherer will hardly assist in controlling the market. Bucherer have 40 stores worldwide whilst there are 1800 Rolex ADs
bucherer also own Torneau, making the Bucherer group the worlds largest watch and jewellery retailer.
@@vinnyfrancis Torneau have another 30 stores worldwide. Still a small fraction set against 1800 ADs.
But i do take your point that Rolex are trying to exercise more control over the secondary market.
Rolex obviously do not believe in market forces?
So the question is ..which Greater Manchester AD you bought your Submariner from? 😉🤣
interesting Vinny.
thanks for watching, cheers!
Sounds like sour grapes. I don't see how this hurts me
How can you not be blacklisted already..? 😂😂😂
There is zero chance that tracking device will be put into a mechanical watches like Rolex. They might slip it into one of the cards. But it will never happen inside the watch. Consider the privacy considerations? Do you really think people are going to put up with being tracked on their wrist ? Give me a break. This is just Rolex trying to flex and play big brother. After all they have perfected getting customers to pay for the privilege of being kicked in the balls for purchasing from an authorized dealer. You have to understand. Modern Rolex are machine made. They might he hand assembled, but make no mistake about it. They are made by machines.
Millions of people who wear Apple Watches consent to being tracked everyday lol
@@cdepo2042 No accounting to how stupid people are that is for sure. People are easily fooled. One would like to believe that someone with as much class/sense to wear 18k Rolex/Day/Date would be smarter than that..
@@cdepo2042 The other thing is where is this tracking device going to fit inside a mechanical watch.? Where is it going to get power from long term? What is stopping people from removing the tracking device even if they where able to get one in.
People like this are the problem
like and subscribe, thanks!❤️
@@vinnyfrancis why do you think an A.D. would sell to you when there are real Rolex customers waiting. Did they know or did they just not care? Do you think?
Dan i’m afraid it’s all a game with the AD’s, any adult who hasn’t lived in cave all their lives knows that life isn’t fair, it’s no different with the AD’s, putting your name down on a list and simply waiting and hoping ‘fairness’ will be bestowed upon you, is not enough. Play the game or go grey
@@vinnyfrancis that wasn’t an answer to the question. Did the A’s know that this was going to be flipped or did they not? Why would they just not purchase it themselves and flip it on their own for profit if it was a game? From the mind of a business owner I don’t get the thought process here.
they gain nothing financially and not was that ever implied, why they allowed themselves to sell to me is not my problem, the point is in future they won’t be able to without potential repercussions from above.
Don't think anyone who is a self-loving collector, collects modern Rolex.
Couldn't agree more, vintage has so much more appeal .
The CPO prices are so high they put grey market dealers to shame 😂
yup, i’ll do another update on CPO v grey market prices soon!
Looking forward to that one V man 😂
I think in the end it will be better for buyers. There are gray dealers have hundreds of Rolex available for a markup but AD doesn’t.
The biggest use of this system will be to stop flippers.
If Rolex introduce this then I suspect they will allow the new owner details to be updated when bought from the grey dealer.
However when that is done it automatically informs the AD that one of their watches has been resold. No big deal if that's a few years after it's been bought, but if it's a few weeks after it was bought you'll get black listed.
Good on Rolex for protecting their product, reputation, and company.
How long did you wait for the Sub ?
If I can purchase a Rolex for msrp instead of a premium from a grey dealer who bought through the back door how am I as a customer at a loss again?
Indeed. This is a video of self-serving non-sequiturs.
If he’d worked harder at school he’d know what that means.
If you had bought a 24k fake watch, I think you would be more in favour. These items cost as much as cars. Authorised dealer service history is a thing. Just make its a cost of ownership thing, which if you can drop 15k on a watch, every 8 years having it service at a slightly higher espense🤷♂️ With four fakes for every legit watch, and gray market dealers standing between a direct relationship with Ad, and the nice drinks and pleasant surroundings, all, part of the Rolex brand experience…lets hope this is sooner rather than later. Without the flippers, we would all get our watches sooner and at list, or maybe get a discount direct from the AD, like not so long ago. This can only be a good thing. Cost more, yes. Cut out flippers and fakes, lets hope so.
Doesn’t matter if Rolex pads their pockets. It is their products after all. The Grey market will be affected for sure, but it’s not like they were helping 2nd hand buyers at all. In fact, the crazy pricing was brought all in by the secondary market after all.
Buyers shouldn’t worry about this at all. This is more added security for buyers. All good to me.
I love this! Great for owners. All positive advantages only for the customers. Don’t care much for re-sellers overall.
Actually, it will help with crime. If someone steals a watch, it will be reported as stolen. Then they try to sell it to you because that’s how they get their money. You will definitely check to see if it was stolen, find out it is stolen, and return it to me. so for a time people stealing the watches will simply lose the stone object back to the person who owns it and then people know, don’t steal Rolex, you can’t really sell it on the aftermarket. This does have value to me.
Good..... Don't see a problem with any of this. You say 'maximising profits' like it's a bad thing.... That's what a good business should be doing. If I were Rolex I'd be pissed if I saw the Grey Dealer making huge profits off my product and at the same I was getting blamed all the time for a shortage I would do everything I could to drive them to the wall.
yes it depends which hat i’m wearing, i’m a businessman so of course i understand that’s a good thing, but i’m talking to you guys - the collectors on here, and paying more is never a good thing for you
@@vinnyfrancisbut wasn’t the crazy pricing started with the secondary market? How is that relevant to collectors? Rolex charges retail, customers aren’t paying more.
Excellent observation Vinny and objective presentation. You've joined the dots that 99% of the 'Talking Heads' on RUclips fail to recognise. Great job once again!
Wow, thanks, very kind of you! Have a great weekend
Has anyone raised privacy issues with this. I don’t want my name and details being distributed to future owners…yikes
very good point, Rolex say this will be optional for new buyers at the AD, you wont be forced into having these details on the web page, for now anyway
Buy under LLC if you can.
I would assume that once the ownership has changed Rolex will not allow new owners too view old owners details
Calm down @ROlex, you are just a watch company, if I decide to give you money for a luxury product i dont kneed, i may consider you amongst 1000 other watch brands.
Hahaha point beautifully made!👏👏
So true
This was awesome and you’re a great guy, I don’t mean this to sound coldhearted at all, but this is the solution I’ve been looking for as consumer. I have been frustrated that all these non-watch enthusiast have made possible for me to purchase watches used to be able to get relatively easily. Look if the business is growing, great for that. I can’t complain there. But if we have people who aren’t genuinely waiting for it, really wanting it, taking a spot in line, get out of the line do something different and let legitimate people purchase the watches. So me personally I’m in favor.and yes, I’m willing to pay a little extra to not have to wait in a line with people who are simply trying to profit in this hobby
Great points all round and very valid indeed, though since i published this video, there has been a lot of feedback with concerns over privacy. It is the original owners choice wether to upload their details and i’ve got to be honest i think a larger proportion will reject the option of doing so, therefore your point on crime prevention will only be affective to a degree but not in totality, thanks again!
I've been buying Rolex watches from the same AD for fifteen years. There has never been an easier time for a punter to get a Rolex at retail post 2016/7 than now. Ask yourself a simple question. If Vinny can why can't I??
very true! many Rolex’s are now available
Sorry to hear the economy is so bad over here. Still plenty of demand here in the big US cities. (for steel sports watches)
Absolute nonsense digital is no different than old system. You are just scaremongering and creating a problem that doesn’t exist.
so what is the ‘old system’, no system exists for external parties to check information associated with the watch. Perhaps rewatch the video to make sense of it, thanks
Then all "Independent" Watch Repair Specialists need to offer more than a "receipt" as proof of repair. Perhaps offer an online video or 'pictorial' to include serial numbers etc... most are very good, so it shouldn't be too hard to provide additional supporting evidence of a service or repair (not dissimilar to a car)... many people will choose an independent BMW dealer over a "main stealer" for most things above and beyond the warranty. Well, some will.... and some won't.
Had my name on Vacherons list for a Blue dualtime Overseas and got the call yesterday but had to decline as I can’t really justify spending £30k at the minute, gutted as I prob wouldn’t have bought my Root beer last Xmas , found out a friend of a friend also had the call and they tried to hard sell him as well, lean times maybe? What’s your thoughts Vinny? Love the watch but its almost available at list on the grey market, they offered me the black dial at first but I’d have to be mad to be buy that list😂
Hi, yes ive heard of a few people getting lucky on the blue dial calls now, the heat for VC has just evaporated completely, problem with the brand is they have just one hype watch so they're getting turned down more and more out of fear of falling even more. Even at grey they're a very tough sell now so liquidity of them is not good and ease of resale will be challenging.
@@vinnyfrancis yeah my thoughts as well, great watch but 30k buys a few Rolex…
Buy Ωmega instead they are beter and no questions asked
superb watches yeah! Though you’d be saving a lot if you bought them on grey market slightly used, their retail prices have gone up a lot lately
This sounds potentially illegal under competition law. Even though Switzerland isn't in the EU Rolex SA would never be able to run this policy if the EU declared it a breach of EU competition law. Time to contact Brussels ...
From your explanation Vinny, if I buy a Rolex on the grey market I can have my name associated as the owner if I get the watched serviced. Depending on condition and age I’m guessing that could be anything from £500 to £1500(?). I’d also get a 2yr guarantee. Seems to me the CPO route is only worth it if the AD’s CPO asking price is less than the grey market price plus the servicing charge. In the long term that would seem to lock the CPO and Grey price together the only other differentiator been AD v. Grey dealer reputation!
Rolex is not clamping down on consumer flippers. We know how hard it is to get a steel Daytona. But there are tonnes of them for sale on the grey market. I think ultimately Rolex is clamping down on ADs that sells direct to grey.
April 2025 - Bucherer are removing all the watch brands and their jewellery from Selfridges in Oxford Street. Leaving just the Rolex store there which they operate.
I think Rolex is going to tighten their grip on being the only service centre for all their watches as servicing watches makes tons of money. Genuine rolex parts will be impossible to be obtained by independent watchmakers.
Still wailing for my Pepsi GMT. Apparently I’m on the AD waiting list but 4 years is a long time, so you are lucky.
I think that would crash the secondary market for Rolex. Kind of getting ride of the market value (value retention being a big part of owning a Rolex) and flush it down the toilet. Congratz you spent a ton of money on a watch that you can only sell it back to the company maybe at whatever price they want rather then a market. May make previous watches way more valuable then buying new from an AD entirely.
Now that I'm thinking about this it's basically not really that much different from when the name was printed on the original warranty card. You couldn't really change the name on that. However you could definitely still sell the watch. However now the owners' details will be published in a web portal? Don't know doesn't sound like a huge deal. If they want to try and interfere with the sale of purchased products I think their going to run in to a whole lot of government regulations that would like to get involved with their business practices. They could track serial numbers without NFC right now.
Vinny, you make great points. I had to watch again to absorb the details and understand the market impact. 2 points you did not address and wanted to get your POV:
1. If I am the original owner , but cannot remove my name from the registration database, how do I protect my privacy?
2. If I am an independent watch repair business, can Rolex prevent me from ordering genuine Rolex parts today?
Hi, from what i can understand, the original owner may choose at point of purchase wether they want to provide details or not and no, parts can still be sourced i don’t believe it changes this…thanks for watching!
Monopoly
A bit nonsense video better do a real watch market prices
cheers, look back through our video history there’s plenty of that, this is news and therefore it’s relevant to other 99.9% of my audience
We don't care about Rolex anymore. Move on.
but you watched the video…
@@vinnyfrancis I did not. Came here to say STOP IT. We do not need another video with Rolex in the name.
that’s a shame, then you won’t learn about their latest patent which will impact the entire industry and how, brands beyond Rolex
Don't buy Rolex
I don't agree buying a rolex is one of the better jewellery assets. I recently bought a 63g Tiffany rose gold bracelet ebay authenticated for £3550 retail price is £11300. Even grey market rolex is a better buy than most other jewellery at retail.
@@jamessmith-on3jf
If you're talking investing in watches i agree but the prices will remain artificially high....until the fall. I would rather buy a far better watch for the same money. There are far better investments out there than watches...smart money is moving away from luxury goods
Data breach suits will kill this genius idea off - GDPR baby!
I respect rolex's plan but man is this sleezy
true!
Morale of the story ! DONT BUY A ROLEX ! the gig is up !
Buy an Omega way more cool and understated !
It's no difference when buying a second hand car, the car sells but just a little bit cheaper without a service history.