Rolex Prices PLUMMETING! Dealer Reveals WHY
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- Опубликовано: 27 май 2024
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Chapters:
00:00 - Introduction
02:11 - The Rolex Boom
07:30 - Is it time to buy a Rolex?
11:44 - So who is really buying Rolex now?
14:00 - Why prices will keep correcting to retail
17:47 - Conclusion & which models will return to ADs
19:32 - Extra - Comments on other RUclips content creators
23:20 - GIVEAWAY and How to Enter
Links & Reference Videos
@watchsymposium Video - • Rolex Prices Continue ...
@WatchCharts Video - • Watch Market Update: O...
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I was at a Rolex boutique (within the airport) the other day, 3 Singaporeans walked in and ask if any sports Rolex available for sale. The Saleswoman just said: "Nope, all for display only". One of them replied sarcastically: " You might as well be retrenched and ask Rolex to reconfigure the store into a Rolex museum!" 🤣
It does feel like a museum doesn’t it? 🤭
@@twosecondswatch Exactly, museum pieces are for viewing only (not for sale). ADs should be renamed as AMs - Authorized Museums.
I was at Changi airport . I saw the explorer I on display but without the display only tag . I asked the sales person if it’s for sale , he gave me the look and said sorry for display only without offering me to try. So it’s cool, I walked to Tudor and saw the Tudor Pelagos 39 . I asked him again if this is also on display. He mentioned that it is available for sale and asked if I am keen to buy. I replied - why would I buy from you? Nevertheless , I insisted that he let me try the Pelagos. As you can imagine , he wasn’t too happy. Lol. But then, I am the shittest customer so I decide my relationship or journey. At most I spend my money on dumb things that’s none of the rolex business . Let’s see who die first . Just a gentle reminder, in 2015-2017 , there were articles on the death of Swiss watch making. People are just so forgetful :)
@@Akj6zmdteuxze Hahaha.. you are one of a kind "Bad Ass" customer 🤣💪
@@acethis I know I sound cocky , but watch salespeople had things easy for last few years. It doesn’t work like that in sales . They need to up their skills as the watch market dies off. I was offered a champagne and 5 % discount for buying Daytona steel. That’s proper treatment . Don’t create a marketing gimmick and tell me to be park of ur journey . I will tell your listed company to go get f by shareholders and you go jobless . Sorry but just stating how a real world should be :)
Rolex went from exceptional tool watches to watches for exceptional tools.
better: Rolex went from exceptional tool watches to watches for exceptional fools.
In the 80s and 90s I was buying Rolex at 15%-17% discount. Now theses prices are insane....I hope it all tanks....
Me to
In light of the changing dynamics of today's world, I am inclined to believe that the prospect of significant transformation in the next 60 years is highly likely. The present era differs greatly from the late 80s, rendering it probable that further evolution will occur. It would be wise to maintain a hopeful outlook and continue to offer prayers.
Owned a Rolex for 40 years, bought 4 models. Just paid £2k on servicing and enquired about buying another, only to be told I don't have enough spend to be put on a wait list. Will never buy another. What a way to treat loyal customers
Rolex don't have a waiting list, they take your information and search the internet to see if you have a Rolex history, if you're a flipper or have a history of selling. Every Rolex approved dealer has watches in stock but they keep them for preferred buyers. If you want to buy a sports Rolex you can become one by creating a history by buying a couple of Rolex models that no one wants.
Outrageous!
@hazelhill1678 fuck that shit. I have to buy a few I don't want and get stuck with it then maybe if I'm lucky enough to be able to buy the one I want? So I end up spending more on ONE watch? Stupid.
I feel your pain I have purchased no less than 6 timex watches at Walmart (the same Walmart each time). Last Tuesday I went to purchase a pleather watch band and the sales associate wouldn't let me pay for my lucky charms at the jewelry counter. NEVER AGAIN. BOYCOTT WALMART.😅😅😅😅😅
Not exactly a great way to create a new customer base either 😂
Bought my first Rolex (Sub, 16613) back in 1998, at an authorized dealer in Richmond, Virginia. My wife took it to one of Rolex's boutiques (Bucherer, Lausanne, CH), along with the purchase receipt, insurance papers, etc...to have it sent into Rolex, Geneva for maintenance.
The lady at the counter told my wife that the watch was fake and refused the service. A rather embarrassing moment for my wife, considering the number of people in the store.
In any event, my wife insisted that the Sub is genuine and requested someone with more expertise come over and review the watch. The store manager arrived and confirmed the watch as a genuine Sub. The watch was serviced by Rolex for ~US $1100 (CHF1000).
Bottom line...if an employee of Bucherer, a premier boutique that is actually owned by Rolex, cannot tell the difference between a genuine watch and a fake...why spend the frigging money?!?
Never again.
Absolutely amazing the person in the Rolex store cannot make the difference between a genuine and a fake Rolex !
Two years ago I was in various Rolex stores and everyone wanted to put me on a list... I then decided on Grand Seiko. Best decision ever. The customer is king, Rolex and their sales concept have made a fool of themselves...
You sir have pride and discernment and taste , I doff my non existent cap to you, well done sir 🎉
GS is always a better choice, im gonna pick my first GS in next HK trip.
Yeah, but with its crappy bracelet you will always still pine for Rolex. I just got the call on an Explorer 2 after a 2 year wait, happy with the watch. Hopefully the waits disappear in time, the way it used to be at Rolex.
You spoke my feelings towards “building a relationship” and apparently i as the paying customer have to build this relationship and they need to like me for them to sell me something 😅
It’s absolutely ridiculous
Exactly! What’s gone wrong with that today???
They are not my boss.
They need me (us) more than I (we) need them.
I visited an official dealer October last year to pick a Rolex for my birthday. Wanted something I could pass on to my daughter. Anyhow, I was put on a list and 13 months later, still not heard a thing. This experience has totally put me off the brand. I could buy a second hand Rolex but I think I’ll buy an Omega instead.
I was looking in an Omega window just last week. One of the salespeople were near the door and saw me. The lady asked if i was after a specific model. I was interested in the 57. She invited me in to try it on, offered me tea/coffee etc. So i accepted the offer and tried it on. Hearing all the Rolex non-stock stories, i asked if it was available. She said they only had 2 of the various colours in stock, but could have one there and then. You won't get that from Rolex. Go Omega, you won't regret it. Great service.
Don't think, just act. I bought a white dial Omega Seamaster Professional in Nov 2023. Getting a lot of wrist time 😉
I’ve never understood why you’d buy a watch from a manufacturer that produces over a million units per year, buy from a smaller watchmaker that produces less than 150 k units a year, you’re much more likely to stand out with a watch that you can talk about rather then bumping into someone with the same thing if you move in watch circles or those that can afford such items.
I’ve never been able to work out why a company thinks they are doing you the favour by taking your money from you, it’s you that are patronising them buy giving them your hard earned money which they should be greatful for. It’s the diametric opposite of how things should be. You’re really not buying into exclusivity if so many others are involved in the same lifestyle choices.
Same with me. Furthermore, the AD was very - how do you say…snobbish. I went over to Omega dealer who treated me extremely well and I purchased a speedy on the spot.
Yea i got my omega at my loca l botique. They had what i wanted in stock. I love the salesperson inside. They were very nive and gave me omega catalog and seamaster book.
I'm new to the game and visited Rolex when I was ready. The whole game they play has pushed me to other brands. To me their brand represents the ostentatiousness of what I despise. As a consumer, I expect to be treated without judgement and to just have really great customer experience and service for a luxury piece. I actually have to thank Rolex because it forced me to learn more about other brands and get a better understanding of their history and what each brand has to offer. They have beautiful timepieces but I don't see myself purchasing their brand anytime soon because there are just so many other options out there at a much better value for what you get.
There are many many watch brands out there, enjoy!
I think that part of the issue is that Rolex need to be able to do the servicing on existing watches. The AD is also there to look after customers with watches on their wrist.
They did the same for me. I went and bought an IWC. They lost a sale.
buy secondary market, mint
I recently purchased my first "luxury" timepiece a week ago.....a Seamaster James Bond edition. When you look at what Omega puts into their product, and compare it to a Rolex Sub, I don't regret the purchase and doubt I'd ever consider a Rolex.
I agree with everything you've said. I was fully prepared to buy an OP or Explorer a few weeks ago but thinking of having to wait on a "list" is ridiculous. I ended up buying a vintage Aqua Terra and a few other pieces. I feel like the Rolex market is collapsing and id rather sit on vintage pieces.
Good choice! The Aqua Terra is such a phenomenal design and wonderful watch in my opinion. Would love to get one into the shop for sale and review.
The list is not even a wait list, they call it Interest List, so u not even waiting for the watch
Brilliant choice. I kept asking at an Omega boutique in London for the red dial Aqua Terra and yep the treatment and everything it was awesome I loved it I did register at 3 boutiques though then I got a call. It took two summers to get it. I love it@@clementwong7819
Good move. Good call on the Omega. Nice watch!
Bought a Submariner 30 years ago while stationed overseas at the PX. $850. Biggest mistake I ever made was selling it a few years down the road from that purchase. Those were the days you could walk into an AD and buy whatever they had in stock.
$850. I think that was more than 30-years ago, but yeah.
1990 I got a submariner as a gift from my mom. She paid $1000 for it from her boyfriend who was buying up. It was only a year old. Five years later, I sold it for $700 because my car needed a new engine. Now it’s selling for around $12k. Probably should have hung onto it?😂😂😂
Those numbers are all wrong. I remember the 1990s.
I guess you were never in a military PX overseas in 1991. I stand by my comment.
Recently I went to Europe to check out the Rolex AD. I can feel that they are not genuinely interested in us buying although I knew those displaying pieces are just for exhibition purposes. Hence I went to brought myself an Omega Speedmaster which the AD treated me like VIP. The experience which I have from Rolex & Omega are so much different
I'm over looking for a Rolex I bought a seamaster and I'm perfectly happy. They can keep the watch
Same here.
Thank you for the support leaving more for us
@@songoku-jx3cb np u can have them
Not me. Tried the 300M… the awful handset and bracelet put me right off… bought a 41mm No Date Sub instead… best decision ever. 👍🇬🇧
Same here I bought one for myself and two for my parents
Finally, a professional, honest and genuine channel! Something we have been longing for for a while now. Many thanks and keep it up!
Thanks very much for your support! Do stay subscribed for more content in the future
Two can play that game!!
Rolex AD play their game, we play our game… boycott them, let’s move to other brands … no point, we hold the power as consumers. Don’t be fooled by them, end of day they loose out.
Guys don’t give in ..
Agree 👍 100%
I completely agree with your points. The one thing you forgot to mention is the public’s perception of Rolex ADs is so bad that people don’t even bother to go inside to ask or look at the watches. And now that grey market dealers are not buying from ADs, ADs are struggling to sell. It will get to the point where discounts will be available again. ADs and dealers have had a good run. They got greedy, pissed a lot of people off and the table will turn soon. Their luck has ran out.
Well I do know people are really frustrated and starting to go for other brands.
I highly doubt Rolex ADs will ever give discounts, which would be brand suicide. Even if demand drops, someone will always be there to buy that undesirable piece to build a "buy history." You might actually get close to, or under MSRP for more models on the grey market, though.
I think were closer than most think to the flipping not being worth it. MSRP + 8% tax here means it's only worth flipping if there's like a 20% margin over msrp. Grey prices don't have to get all the way down to retail to make flipping not profitable or worth the effort.
Who told you grey market dealers aren’t buying? Sure, some smaller ones w/o adequate capital - but there are plenty of big greys with enough cash to wait out the economy. Otherwise you’d see prices on Chrono start dropping - but they don’t because the same watches sit there for 6 months.
I'm glad I got my Submariner, I got it for me, not for profit. 1996 and still keeps to within about 10 seconds per week (using Time Is to set and compare - so pretty accurate). I was serviced about 18 months ago and I kept the stickers on it while they remained. I have no idea why! If I can get another 10 years out of it I will consider that I have had my monies worth regardless of what it ends up being worth. Don't buy for financial reasons, buy a watch because it is what you want and what you like. Why should what other people think matter?
Well said! So glad to hear a true watch enthusiast speak who doesn’t buy into fads! I agree with your statement 100%
I am cut from the same cloth. But I feel the younger generation don't have these values. Buying a watch, that you will love for many years, often changes which brand you buy.
This is an interesting video.
Thanks for sharing.
As a wrist watch enthusiast, I would love to have a larger share of my investment in luxury watches after my retirement.
Any suggestions ?
It is always good to have a financial plan. I work with Chris Ryan Stewart as well,a professional planner and a fixed-income strategist in NY. the fixed-income portion of your portfolio won't simply serve as a buffer to the volatility of the equity portion of your portfolio but will provide legitimate income.
How can I join in? I will be happy growing my money while giving a few of it away to charity giving back is a good as receiving.
If Rolex really wanted, they could fix this. You enter an AD, buy a watch, they give it in a plastic bag, or on your hand. You register your name. And days later Rolex sends YOU, the box and papers, warranty, etc. They would know then, who the buyer is.
That’s… actually pretty spot on!
Or simply laser engrave (with a unique serialized QR code) an obscure part of the watch (e.g. back plate). Then incentivize the consumer to scan the QR code and enter his/her proof of purchase and other information on the Rolex site. Incentives could be in the form of warranty, consumer status points, and various other loyalty-type programs. As well, they could just as easily maintain e-papers, digitally signed and block-chained, for provenance tracing. A second serialized QR code could be engraved on the inside of the backplate or on the movement (hidden), for an additional degree of authentication. The hidden QR code could be fingerprinted (micron level variations within the physical engraving), in parallel, to thwart counterfeiters. Of course, other overt /semi overt authentication tech is already present on their watches.
This approach would change the distribution dynamic; creating a more valuable direct-to-consumer relationship.
I’m trying to imagine a very traditional age old company like Rolex actually bothering to fixing this issue with your awesome suggestion! I honestly believe deep down they want to fix it, but not completely. The hype and demand is still importsnt for a luxury item
👏 (might have to hold them for 3 months - a few days isn’t enough). They could also buy back a few hundred new box/papers Grey watches, trace them back to the ADs, stop allocating to those ADs, make sure the word got out to the watch press. Owners of ADs would immediately tell their sales staff to stop selling to their flipper buddies and he would start picking people randomly off their waiting lists.
I don’t like when someone who works in a shop looks at me like I’m a POS when I’m looking to spend HKD 80-120k. I go to Cartier, Omega etc, they treat me nicely, even AP treated me nicely and gave me drinks and snacks, gave me all the ones I wanted to try on, doubt I’m getting one anytime soon, but at least they treated me well.
There are too many Rolexes on the grey/used market and only seem to be for people who know nothing or really care about watches.
There is no Rolex that’s better than a dual escapement twin barrel Omega, it’s superior technology.
I think that’s the problem… too many non watch people buying Rolex’s as an investment.
Been there and done it with Rolex, sold high and made good profit! It's all about Breitling for me now, they have some amazing peices, the older super oceans 👌🏼
Needed to hear this about Rolex. Almost got sucked into their vortex. Was so close to buying a daytona on the secondary market but now I refuse!
You know you can do better value than that, there’s the Speedmaster, El Primero, Chronomat, and so on…
I agree with a lot of what you’re talking about 👍 I’ve bought pieces I didn’t ask for from AD’s because they offered and I wanted to build a relationship, but after several purchases I realized they were not going to offer me the pieces I truly wanted anytime soon. I have had better results from non-AD stores.
Thanks for sharing!! That’s shocking and very sorry to hear your experience. This is an obvious and deliberate manipulation by the Authorised Dealers who are way over their heads and getting away with treating genuine customers like this. It needs to stop and we need to stop it.
You might as well ask the dealer out for dinner, then go to your place, you know, just to build a proper relationship…
Ur the reason why Rolex and Ad’s are doing this shit.
They can't sell what they dint have
@@danpmatzgreat point. For all those ripping the ADs - they are at corporate’s mercy and don’t always get the watches they want. All ADs in huge cities would love to get 500 Pepsis knowing they could sell all of them.
here in chicago, there is a non AD watch store on the 5th floor of a downtown office building that has over 100 brand new Rolex sports models for sale. Every color variant of sky dwellers, subs, gmts as well as Daytonas. I have never seen anything like it as ADs have had nothing for years. Seriously the shop even had 6 brand new hulks, never worn....for $35k a piece. Unreal seeing as that watch was discontinued a few years ago. All the rolex watches were for sale for around 3 times RP. White face daytona for $90k anyone?? I was wondering how this non AD has the most amazing inventory of Rolexes i have ever seen. This video might have answered my question.
Yes fully agreed. Very disgusting with those on RUclips who always said they were getting their Rolex watches easily due to their networking with the AD. Btw sick of these AD as well because they are prompting you to buy other watches from them to qualify you for Rolex watches. I think I will be buying well kept watches on secondary market at below retail prices and it is already happening to Rolex watches.
When the actual genuine customers who want a Rolex and are turned off by the negative experience and move to other brands, I believe this will change…
Secondary market is the way to go. I buy through Helzberg, and they treat me like a VIP each and every time.
Yes. If it was as easy as just going in and talking watches, proving you’re a watch lover, not a flipper, we’d all have a Rolex GMT, Sub, or Daytona.
I think you nailed it, totally right. I am one of the disappointed customers who decided to give their money to other brands and got kind of offended by the AD who only sell to other dealers. Thanks for sharing.
This is the raw, real, down to earth video we need.
Just like Austin said: Unfortunately, while I think we'll go back to seeing Subs, OPs, and Datejusts on display again, we're never going to see the high in demand models like the Daytona or GMT.
The past 3-4 years have taught ADs that this marketing strategy works TOO well. You walk into the boutique, and all you see is empty shelves. It pushes brand exclusivity and makes it seem you can never get those models from them. They tell you "We require a certain amount of spend at our location" and it's a race to the top for their clients.
Thanks so much for the support and agree with you!
Already got 4 omegas in past few months after I give up on Rolex
Actually….
It’s great~
All omegas design are different not like Rolex with similar designs
It opens up my mind
with few exceptions Rolex sport models are iterations of the basic submariner iconic design nothing more
I have to agree that standard models will become more available (OP, DJ etc.) with the exception of special / limited editions. It just makes sense.
Would agree with a lot being said here and felt that the Rolex AD/product placement have over played their hand. I went to a well known AD to purchase a Rolex and was looked down by the sales assistant. Fine, I just purchased another Swiss timepiece elsewhere and left Rolex in the past!
In all honesty I have a OMEGA Planet Ocean. The coaxial has never failed me. My Rolex Datejust 41 stopped working after 5 years. I was shocked. 750 dollars later it came back like new. You hit it right on the head with these Rolex AD’s. Same thing..you can order one, etc.
Thanks for the video, I was in the fence in buying a GRand Seiko retails vs a Rolex after market. You've helped me decide
Grand Seikos are awesome watches
There are so much more excellent brands next to Rolex. I’ve bought several omega’s and I am equally happy with them.
First of all, congratulations on the excellent content. I very much resonate with what you have said in the video.
I recently went to an AD, prepared to spend a hefty sum of hard earned money on Rolex datejust. I was told there is stock so i went down. The sales person was busy, there were 2 more customers in front of me. I waited 20mins and it strucked me that why am i waiting for AD to be free to serve me when i am the one forking out the blood sweat money. It is not even an essential item but it only satisfy my small vanity at best.
I decided to leave to get back to my house chore. I realised i saved 20k SGD that day. I guess i hv to thank the willing customers in front of me that day for being more commited. 😅
Wow that is an amazing realisation!
I mean my phone tells the time so ... yeah.
Discontinued models with other brands are often a sweet spot. A lot of buyers these days aren't watch collectors, they just want a jewelry piece or something they thing will appreciate in value. 10+ yr old watches from Omega, Zenith, IWC, JLC, Panerai, are often as nice if not nicer and a fraction of the current inflated MSRP of current models.
Agree! There’s some old school charm that’s sort of lost in todays watches
I do share your belief that we should not butter up AD salespeople. We should be able to enjoy our AD experience and be at ease when shopping for luxury watches specially Rolexes.
Well said! Exactly my sentiments!
The thing is: it doesn’t work! (at least not very often) They are flipping the watches to their buddies who then sell them to a grey and the salesperson gets a kickback.
I believe that BNIB Rolex secondary market will continue to soften, whilst the vintage market will stabilise. AD should return to normality soon. I remember walking into an AD in 2017 and choosing between a Batman and a Hulk. To your comment on the RUclipsrs, I observed some of them are acquiring and flipping ("I bought my grail watch!"... and 2 months later "Reasons why I'm selling my grail watch"). Creating unnecessary hype and cooking up the secondary market.
Well said @shermanpeh21. It was obvious why RUclipsrs were busy flipping! I also agree with your observations on the secondary market softening and correcting and vintage will actually stabilise. We might not see the 1990s Rolex even going back down in pricing they seem to have stabilised.
Well said . No genuine customers will walk into a Rolex boutique to beg to buy a Rolex . Customers are always right and for customers to beg for their rolexes , it is stupid in the long run . One day , Rolex will be redundant.
You are spot on, about everything…the “wholesale” part of the gray market is a lot of what you “see being sold”
Thank you for the wonderful and helpful information. I agree with you 100%. Anything that goes up in value due to some extrémeme market situation, will eventually come back down to normal levels. I have my name on the list for a 2023 Rolex Sky-Dweller Mint Green Dial and Jubilee Bracelet. I’ll wait as long as it takes in order to pay retail and not a penny more. No rush.
Your explanation has struck a cord with me. It explains everything. 2 years ago I walked into a Rolex AD and ordered a submariner telling the dealer it was for my future retirement. I was telling the truth. One week ago I contacted the AD again to enquire as to when this watch was going to arrive because my retirement was imminent. The conversation with the AD (not the original AD I spoke with 2 years ago, because I was informed that he was currently on the phone and couldn't speak with me) went like this; Over a cup a coffee, I was shown a gold submariner. it wasn't what I ordered but I asked whether it was for sale. it wasn't. The AD just wanted to see if I was interested in that particular model. I again voiced my preference to the dealer who then asked if I would be interested in a pre-owned model if one was available - which the AD can now offer because they buy pre owned from existing customers - but came serviced and with only a 2 year warranty. New Rolex come with 5 year warranty. The AD takes my name and number again commenting that 2 years seems a long enough wait and tells me maybe sometime next year something might be found for me. I leave the AD still hopeful - nice coffee I thought.
Two years ago I went into my local AD after making an appointment. I sat down with the sale assistant tlake to her why I wanter a GMT Pepsi. I was dressed smart casual wearing my Datejust Wimbledon so she knew I wasn`t a time waster. She took my details and since then I`ve heard nothing. The next watch I`ll get will be either an Omega Seamaster ot Breitling Navitimer or Grand Seiko, as i`ve had it with Rolex and their BS.
@@admiralcraddock464can't go wrong with a GS. Incredible watch for the money.
I agree. I have been also been saying for a while that WE are the reason why prices are so high. And only us will determine if prices will continue falling by not paying over MSRP
Exactly! We need to stop entertaining this kind of treatment.
I really appreciate your honesty, subscriber number doesn't do you justice. The part you said "the only thing that stopping you should be the money" is absolutely spot on. I just don't think that is right if I have to treat the sells person really specially to even be considered to buying, where is the fair buy to seller relationship?
Thank you for your support and appreciate it greatly! As a buyer and seller of watches ourselves we believe in making it a great process and experience for our buyers, and try our best to do so. Of course, we also make mistakes, but we certainly do not advocate buying a watch that someone does not want to get something they do want. That’s just manipulation.
I agree with you that the price of Rolex will adjust in late 2024 once the new Rolex building is operational & churning new watch production. Chances is high.
Totally agree with you on “building a relationship” with an AD! Total BS! Their treatment of customers is not a luxurious experience.
It is gross that the ADs expect us to come in and kiss their ass. I refuse to do that. I have a small purchase history with one AD and I purchased my new explorer with them this past summer. But I’ve gone into many other ADs and the bullshit is unreal. They want everything down to my address (which I’m not giving them because it’s none of their business what my house is worth). I take a lot of care to have my assets in an LLC or trust and I’m not going to ruin that because some Rolex salesman thinks he’s entitled to know that. I mean, I’m coming in to buy a big ticket item that the saleperson can’t even afford. He should have to tell me where he lives. Anyway, I got a call from one other AD that I refused to give an address to (after some back and forth) and I just turned down what they offered and said I’d find someone else to deal with.
I think what they are trying to do now is use this opportunity to gather data on their potential customers and for marketing purposes, many without the actual intention of selling to you a Rolex but possibly other brands. Bravo 👏 on your actions and 🫡
great!!
I bought my 2-tone Submariner (Black) for $3500 about 25yrs ago and sold it pre-pandemic for quote a profit. Hind-sight, I should've held onto it for a while longer. Just bought an Omega Seamaster 300M (Green) and am loving it. Been looking for another Sub but, I'm definitely waiting for prices to fall.
Growing up loving watches, I've always wanted a Rolex. By the time I started making money, Rolex became unattainable for me. And it has been for so long with its inflated pricing and resellers grabbing all the inventory, I just lost interest.
There are a lot of watch brands that are as good as or better than Rolex’s if you’re looking for the stainless steel sports model looks. Of course you can always consider sister brand Tudor who has sort of become the more attainable luxury brand of the Rolex Group.
Thanks for the brave and honest video :)
I am new to watches but I really appreciate their beauty and the feeling they invoke in me when wearing them. Just discovered your channel, looking forward to see your other videos.
Thank you very much for your support and kind comments. It’s wonderful viewers like you who really make our effort in making videos worth it and encourages us to keep going. 🙇🏻
In 2010 I walked into Rolex at Raffles and purchased a Daytona for 16k with no previous purchases no questions asked. Now people are flipping them for big gains and cannot buy them from any shops in any country. This is such an insightful video, thanks for sharing your knowledge. I was at hour glass at Raffles recently and the sales person told me I need to buy some lower end watches first, my Daytona purchase is too long ago, so I need to establish myself again.
Shame…. Rolex and Hour glass this is very poor customer experience, which is a business metric.
Wow that’s pretty cool! I guess it’s kinda ridiculous now coming from your point of view as a Rolex watch buyer and customer of theirs!
@twosecondswatch Great video! Thanks for making this. I am in the market for a 39mm Explorer mk2 dial but can't fathom paying $2-3k over retail. Hoping prices continue to drop on this one.
As a long time Rolex owner, I believe you have made some great comments, thank you!
Thanks 🙏 for your support and feedback
Hi Everyone, just wanted to let you know that we are having our Black Friday Sale right now on our website, with massive discounts on all watches and also straps. Sale ends on 27 November. If you've been waiting for the right time to purchase a watch from us or any watch straps, now is the best time! Visit us at www.twosecondswatch.com - links are at description.
😊
Great content and very honest. It's about time for watch enthusiast start enjoying the hobby again
I visited a Rolex AD some years back and was shocked half the shelves were empty. The salesperson did not even take the time to entertain my interest in purchasing a Submarina..
These days, i see an abundance of fake Rolexes. This is indicative of a problem ADs have created. Why would i even want a Submarina now when its likely others will question in their mind if im wearing an original.
Agree. Rolex is the reason the fake industry exists. I won’t buy 1 but don’t look down at someone who does because they are refused at an AD.
Great video, that’s why I looked specifically on the used market end ended up buying a 16570 from 2002 and I’m super happy with this piece
Good choice! Rolex watches before the hype and Neo vintage models are great pieces
I got good service buying an Omega, they even bring out wine and liquor, what an experience!.
Yeah when i got my sea master they had champage and stuff. Very cool xp
Same experience. Was in a boutique in Buenos Aires. Displays only. Very cold interaction.
Help me decide between two watches...
I like green so my only two options are the submariner and the green op41
Which should I get? Green op41 or the green submariner?
I currently use my rotating bezel daily to time random stuff. So I guess I need to make some lifestyle changes if I go for the one without the rotating bezel.
Buy what you like best! That’s my advice. 😊
You're absolutely right. If it's not a good experience just buy something else.
I just found your channel, and fully agree with all of your points! The Rolex buying experience is horrendous. My feeling is the AD sales staff are order takers, and do not know how to sell Rolex nor any other brand. I stopped going into an AD several months ago, and have no plans to go into an AD for the rest of 2024.
Thanks for sharing! There are many other brands to consider who can make the buying experience much more enjoyable and treat us like proper customers.
Great video. It's refreshing to hear an honest view about the market.👍
Glad you enjoyed it!
Yeah, many RUclipsrs borrow watches from dealers and pass them off as their own. Also to promote the dealer. Or they buy at inflated prices from the grey market but say they bought from an AD. ESPECIALLY when these guys buy 5 figure timepieces every other month for 1-7 years straight on RUclips.
Thanks for sharing!
Very insightful video about the Rolex Watch Market & the Watch Industry in general.
Thank You !
Glad you enjoyed it!
I waited for a year for a rolex for my wife, we were cash buyers and the AD just kept calling until a buyer confirmed the purchase, so it would seem that their waiting list is not genuine. I bought my sub in 1995 in Singapore strait off the shelf , left with the watch on my wrist. Happy days. Today the AD's are not interested in the normal retailer, to wait a year is shocking.
Now Rolex is luxury hype brand. Times have changed, haven’t they!
Good perspective. Wish everyone could refrain from trying so hard to build relationships with ADs when they’re the clients. I must admit I’ve done it myself to no benefit but that’s probably because I have kept from buying other pieces just to build my spending with the AD.
Love this perspective - thanks for the insight. Looking forward to the next one.
Glad you enjoyed it! Thank you for your support!
You are correct the prices will drop, but inflation will continue to rise. I don't believe it will drop below pre-covid prices. The price will continue to rise as before pre-covid on a corrected market based on multiple factors such as labor cost, material cost, operational cost, etc. Otherwise the company will go bankrupt.Before then, Rolex prices where known to increase every year. Which is true till this day. The Grey market dealers are the main culprit for price gouging. Also Rolex for not enforcing their rule on banning secondary sales.
Great post. While knowledgeable, our host doesn’t appreciate other factors. I’d add to yours: just the number of new rich people who get created all the time. Short of total worldwide depression where food is scarce, there will be people available to buy. And I also think Rolex would cut production if they had to - they are a private trust and don’t answer to shareholders.
Totally agreeable on the action to take to correct the market 😊
You are speaking the truth and it's very obvious in Hong Kong. You can easily find any model in any reseller/dealers. AD and the resellers are manipulating the prices and sharing the profit together
It’s crazy to watch the 1 HK RUclipsr who walks around HK showing literally hundreds of Rolexes sitting in store windows. I’m sure a few once belonged to real watch lovers who had financial issues and needed money - but pretty sure most are just flips. Sad.
Unbelievable but True! The watch market is dead
everything you just said need to be heard by the public! and i genuinely mean it!
Thanks for the video, the best way to build that kind of relationship is to ove buy something else that aren't the ideal product that you are looking for. Anyway, I love the topic and the content. I hope you will talk more about these kind of topic in the future.Thanks.
Will do our best!
Can you elaborate on the dynamics of the ADs selling directly to gray market dealers? I feel that demand for Rolex’s watches in the general population is so high, that ADs could sell to regular customers nearly as fast as they can to a gray market dealer. So what is the incentive for an AD to sell their Rolex inventory to another dealer?
Good question 🙋♂️, there was another commenter who mentioned that with the amount of watches Rolex makes there is actually very few watches being allocated to each AD worldwide. I guess the actuality is many small watch dealers or gentlemen flippers are actually long term customers of many ADs. They essentially want to keep them happy as many of the dealers actually buy other brands that ADs carry as well. Especially other unpopular brands and models. So there is incentive for them to prioritize them. It’s just business
I believe the salespeople are selling to friends who then flip them and they share the profits. I disagree with our host’s comment - longtime customers are rich, making their money in other businesses, thus they don’t have the time to bother flipping watches, nor would a $4-5k USD matter to them when flipping a Batman.
It’s very tempting to buy one from a non authorised dealer but I am not prepared to pay more then the AD prices.
Be patient!
Pissed off is correct. I call them exhibition centers, with samples only. "NOT FOR SALE"
I currently own three Rolex stainless dive watches, each was purchased at AD. I don’t speculate on my watches and I like the exclusivity of the Rolex model.
Thanks for sharing!
I have.similar experience of being a nice guy hoping I can get my roelx, but after 2-3yrs, i get tired of it and decide to go to the gray mrkt, coughing out a few thousands is much better than hoping for the hopeless wish. Money is just money , we can earn it back.
I fully agree.I went to buy a 300M Seamaster 75th Anniversay Summer Blue from Omega Boutique.The service was fantastic!Screw Rolex!
Omega has really been on the roll and taking advantage of the opportunity
I think Rolex will maintain price. Increasing production from 1 million to 2 million will only start to marginally meet demand.
There have been people buying alternate brands but they may still have a desire to have “that Rolex”.
I cannot see prices being affected. Rolex should open stores direct and set the price (higher) and wipe out the second hand market which is why they are overpriced.
I don’t think Rolex is affected at all as a brand, they have strong sales. They won’t ever price down. I’m talking about the pre owned market
Nice explanation. Secondary market dealers like Davidsw and European watches always have tons of Rolexes in stock and I wonder how are they able to procure so many watches when there is shortage. Answer is AD’s selling them and they sell it for hefty profit.
👏 exactly. Rolex could kill most greys by add $2k USD to prices. There would still be plenty of high net worth watch lovers to buy them.
As a distributor (not dealer) of luxury goods, I agree such AD practices happen, not just in the watch business ...
If one has money to buy a Rolex, best to plan a vacation in Switzerland, like in Lucerne, visit shops like Bucherer, and roam around freely in a real shop, not just a museum. Don't go into Patek Philippe boutique though, they are always closed. Maybe that will change now that Louis Vuitton has acquired Patek.
Thanks for sharing from a distributor perspective! In the end this only hurts the genuine customers of brands and also the distributors. I’m all for distributorship, it’s a great model however we can’t deny that some distributors need to offload inventory to be allocated because of rules created by the brands themselves. That’s unfair.
Had a few rolex in the past. Always bought them second hand at about half retail, then sold them back as unimpressed. Watched the prices rise over the last few years and got interested again. Went to dealer to be told about the list and the wait. So went on the list and got an impressive looking fake to tide me over while I waited. After a short while, I remembered why I always sold them on: Rolex are the king of marketing, not watchmaking.😂
With the money I had put aside for the over priced rolex, I baught a santos and chronomaster. So glad the dealer didn't alocate me because now I have three good value watches (2 of which I really love). Instead of a rolex, which I would have grown to hate.😂
So what would be a good trade for my 09 Sub V serial for a 5 digit Pepsi or a two tone Sub? I mean how much cash on top with the Sub that’s in great condition? Any opinion appreciated.Thank you
Hi 👋, to be honest we don’t deal much with Rolex watches so your best bet would be to research on WatchCharts and forums. I’m sure someone there can give you some pointers. Alternatively you can go to your local trusted preowned watch specialist and they might be able to assist.
@@twosecondswatch thanks I’ll try that.
tl:dr, I dont think the price will be too far fr ur expectation. Because the truth many wont talks abt is the high market values for many brands in such situations are mostly artificial. Those in the know /circles inflated prices beyond its actual worth/values to advantage off current trend. When u into the market to sells for profits u realized all hypes don't reflect into real trades/ prices. Its created just to benefits small circle of people's that's why we see the volatility is so crazy, it can be whatever; because the truth is controlled by only certain party.
It just wont fall below the actual worth, because then these peoples will starts losing their money. And most times will be affecting the Brands itself.
Basically, avoids trades into the hypes, since u only helping the artificial/price floating going up, while u didn't get much benefits urself.
Looks at property markets, and compared before the market freely manipulates by realties. Suddenly, as if we shorts of supply of housings, and the price go up to sky. When actually involved in the industry, realized u struggle to sells all the units to the projects. Unfortunately, real estate industry r too far manipulated, and most parts of supplies chains deeply speculation based..it takes a real effort and collective awareness to make the price real again thus a real market once more. Otherwise , everyone feels thats its choking our every breaths.
Are we seeing the same unfortunate tragedy to the luxury watch industry?
Hated the fact the AD actually do bundling to get the watch you desire but they turn and said in a way that they don’t do bundle and didn’t force you to buy the watch you didn’t like
Very informative and will be looking into buying an Omega
Good choice!
To your closing statements.. CHEERS!! Buyers should be the ones with the upper hand simply because they are the ones spending. The same applies globally. The resell market is crazy though. I've experienced the same in everything from sneakers my sons want to wear to bourbon I want to drink.
Liked and subscribed, I fully agree with your assessments, really hope the good old times will come back when hi could enter and just buy what you like and be treated as a customer and your money, like in any other business when you do whatever it takes to make the customer happy not the other way around
I live in a smaller city in Oregon. I’m always looking to see what watches people are wearing. I’ve seen exactly 2 Rolexes. One was an old man with a Sea Dweller, the other is a local watchmaker that wears a 70’s Sub. I just don’t know who’s buying Rolexes. I never see them outside of watch forums.
It would be interesting to see where most new Rolexes are allocated to, and which country as well
@@twosecondswatch Most of us don't have that much disposable income. IMO, $10k for a watch is absolutely ridiculous. But there's obviously people out there that can afford that type of luxury. It's just not me or anyone I know.
Talking from 5 decades of life experiences, it always 'the greater the images, the louder the noises, the stinkier it stinks'...hopes it not the case with rolexes.
Somehow they managed to put themselves at level where untouchable by most mortals.😂. From the state of awe and fascination, to self realization thats something u won't be able to own, your money can't buy, thus distancing ourself, and eventually fades to history only to be reads from titles like 'the biggest Mistakes ever made by a watch brand' ..
Many as a mere mortals, had done with the brands, whats left only a bits of interest here and there, only to be countered by the realization that its unobtainable, others brand had equal quality some even better, the unwelcoming treatment as a whole by th😊e brand, and many more i summed up as not the experience reasonable just to own what...the crown.
But that just me..a lowly mere mortal. To each of their own.
Submariners are not dropping in price. I tried 3 Rolex outlets in London. Eventually bought from a unauthorised dealer in Mayfair. Bought a 3 year old no date boxed 124060 for £9750. Cannot do with this acting and attitiude of sales staff in Rolex ADs
Yes, he’s wrong - the sport model prices have leveled out and short of some huge disaster will start going back up (BTC is about to spike again). I got a Batman - got a good deal but still had to pay the premium.
I’ll probably will never be able to buy a Rolex I’ll just buy a Omega instead from Amazon but your video was very informative and I hope prices will drop good luck with your channel
Why worry about the price of pre-owned Rolex Dealers. Authorized Dealers sell Rolex at List or lower depending on the economy. Never over list.
In 2011, I was walking past a Rolex AD in Oxford street and saw just about every steel sports model except for the Daytona in the display window. And all FS too, not just display purposes.
Wow… how times have changed!
Yes, should've bought everything in the window! @@twosecondswatch
Rolex ADs were playing the "waiting list" game with Daytonas over twenty years ago; even after I'd just bought a brand new GMT! Still haven't gotten the call for that one. BTW, the Rolex stores were completely empty well before the pandemic. The pandemic didn't help anything, but nearly all the ADs emptied their inventory for flippers (no matter what they may say). One of the unfortunate consequences of this has been the explosive growth of the counterfeit market. Hard to feel sorry for Rolex and their ADs when they won't even sell you a watch sitting right in their display case.
Great points. I'll disagree with one thing. Some consumers enjoy the (false) impression that they're buying something that is (artificially) unattainable. When they walk into a dealer and the dealer makes a show about how no watches are available for sale because of (artificial) demand, that makes some consumers want the product even more. That consumer is a sucker for hype, and is generally more likely to have YOLO wealth. As the YOLO wealth dies out, Rolex AD's will realize that they've permanently tainted their image with the class of consumers who have the wealth to buy one of their watches without a bubble market to buttress their wallets.
Great point! That’s much truth to what you said as well. Thanks for sharing!
well, if you buy a Rolex from AD today, and keep it for years. The same timepiece would have price increase (from Rolex) year over year. Although the secondary price continues to drop in comparison to MSRP, but because you bought the Rolex years ago, you will still keep your money when you sell. Look at the old pre-ceramic Subs. People who bought these timepieces years ago should have made a good sum of money if they sell it now.
Great point! That’s very true for most of their watches pre covid.
at current rolex prices (retail or grey), i rather go higher level like VC and JLC
Been looking into VC lately, they really make wonderful watches
As a very very long term Rolex GMT II owner myself, since 1988 to date... I was able to get mine on the shelf... To be precise... I got my 1987 model from Alexanders the jewellers, I was only just a teenager then. I have a newer model now of course, here's the extra points to add: Rolex bought Bucherer partly because of this issue of dodgy, greedy ADs,.. Rolex have mystery shoppers, most definitely don't know about that. They have done their investigation as these are watches for the consumer which made Rolex very wealthy, thus, the notion of it as an investment isn't the fault of Jean Frédéric Dufour.... Or his predecessors.. This is business of greed.. The crown is rectifying this, like a slow bake, it'll be good in the end.
Thanks for sharing your thoughts on this.
Actually was a great video. 😊 I randomly got this on my playlist.
I’m new to watches but can already say following. Rolex are beautiful and is something I want in the future. But the omega I bought and the treatment was so good, that I’m almost considering a 2nd.
However I do want a Tudor too, they were very nice to me as well
I walked into hour glass boutique in Singapore. Cant get a rolex. No information or procedures on how to acquire one also