Pour le Mérite
545
There is no public interest for luxury goods. I doubt law is violated.
As said. A grey is just a good customer. A good customer enjoys certain privileges. Has been since decades.
Yes but this might be different
As of yet neither Rolex nor Patek Philippe has joined the dispute. That will be almost inevitable if the alleged scheme is proven true in court.
It think we should follow this one closely.
Obviously, everyone is assumed innocent until proven otherwise.
Ultimately....It's all GREED!
You can do anything you want, just don't get caught, ) lol..... Where's the passion anymore, I would say it's not there but many people need to pay bills/mortgages/loans and then Greed sets in. Just another day...
C.D. peacock
I have purchased watches from them for over 20 years as they are within 4 miles of me. They are official Rolex and Patek dealers along with other brands. Always been very professional in my dealings and usually got the watch I requested.
The AD refers to themselves as an authorized Patek Philippe AD
but Patek.com doesn’t mention them being an AD ...
I probably see what they "mean". They are NOT a Patek AD in Chicago (there's only one, Razny, which is entirely unrelated to this story), but they do have a Patek license for their Oakbrook, IL store.
Let's say that the way they phrased it on their site might easily be "misunderstood", so to speak: "C.D.Peacock is proud to be the premier authorized retailer for Patek Philippe in Chicago." ;-)
Probably, but alas sometimes these things are very delicate to handle. I just checked Razny's site, and they more humbly (and accurately) advertise themselves as "Patek Philippe in Chicago".
Their license is also relatively young (I remember when they were assigned it, they even hired immediately the excellent Patek saleslady that was at the previous AD in the Water Tower). Wishing the best to them, I'm not their customer but from what I hear...
CD Peacock
They’re currently in Oak Brook mall and an AD for both brands mentioned. Several years ago they had another store at The Shops as North Bridge, in the city. I only recall seeing Rolex at that location (not Patek). In the city, Patek used to be retailed by...
I can't name names, but I know for a fact many stores do this practice.
Sometimes the store's owner/management is involved. Sometimes only the salespeople are involved and are not telling the managers. Either way, grey-market dealers get their products either with the store manager's knowledge or without.
Yes, I also know a certain Rolex AD in Zurich - not to mention any names but they are called Bucherer - from which you often see “used” Rolex watches in
the grey market only weeks after the latest Rolex model hits the market. With the so-called Batgirl I had barely understood that there is a new watch and it was already available “used”.
Most Wempe stores yes, but even Wempe is far from perfect.
All stores have been compromised to some extent. The only thing is if managers are noticing it, actively doing it, or others. Wempe is definitely a cleaner brand, that's for sure.
...
I'm sure many people see it as an easy opportunity to make an extra buck on the side. I can imagine if you are the one selling a 5711 or any other in demand Patek you could easily get 10k per watch on the side selling to a grey since he's making a lot mor...
You're right! It's tempting even for mortals and even multi-millionaires...
Making some easy money is always tempting. I wished I liked watches less, I'd probably be happier overall! Content to just own a few of them!
Most of my friends and family say...
They say you only need to own one or two nice watches. And I'm like, I need one for every type of special occasion, outfit, and activity. Another one of our members said he wants to own EIGHT different Bulgari Octo Finissimos! I do like the Octo Finissimo...
That's generally correct...
But as someone who knows how store operations work, there are definitely ways for a client to gain an unfair advantage.
about time - this has been fishy for too long
Something has to be done by the industry. Maybe Stern felt some upcoming issues with the Nautilus (just my guess). Why not get a random allocation to clients, and pay the full price upfront if you are amongst the top 5-10 slots. A solution can be found.
The Rolex AD here in Bahrain told me if I pay the full price upfront I will be on the list and will get the Pepsi in 2 years.
But I stopped being into Rolex many years ago and I don’t even know if I will be around in two years’ time in Bahrain.
If anyone wants to read the full complaint...
Someone on another website uploaded the entire PDF here .
Grey market dealers are as much a customer as you are. They’re just bigger in money.
If the grey market were about to get drained the whole industry would take a very deep dive. People that cry about these practices are just mad that they can’t get a grasp off that cake to make a quick buck. Accept it and move on! Brands are lovin’ it! ...
I have long accepted it and moved on. However, the alleged practices violate various US laws
and this is where the public interest starts.
There is no public interest for luxury goods. I doubt law is violated.
As said. A grey is just a good customer. A good customer enjoys certain privileges. Has been since decades.
If you're right, I'm sure the judge will throw out the suit immediately for lack of standing on the part of the plaintiffs.
(in other words: you're probably wrong)
Tax is a likely risk factor here.
Are they collecting the full state sales tax for the actual price collected? And if they are getting anything over retail, are they paying income tax?
Read the complaint in its entirety on Saturday and
would expect the lawsuit to tarnish Rolex' reputation in North America at least. There is little in terms of numbers in the complaint but if it is true that Rolex set a new sales target of USD 10 million p.a. (I think it was) for that AD and linked the ac...
This behavior is like breathing
If it can be stopped, prices will rise EVEN MORE for Rolex, Patek.... We call this the Watch-Mafia... They control so-called after market, 'pre-owned' pricing. Meaning, 'new watches' Watches that are 96% or newer... are NEW. We know this... If this lawsui...
Maybe we should check out what the judge wears a few months after the trial??
After all the trial will be in Chicago!!!!😊😏
Discovery. It will be interesting what is found during this phase.
What if Rolex was aware of CDP selling through the grey market, but chose to do nothing? Think about former ADs that Rolex severed, because they sold to grey market channels. Those ADs might have justification for their own lawsuit against Rolex. This tan...
That's what I was hinting at above. Now, what I'd like to know is
what information the AD collects Rolex has access to. If they can access customer data, shipping addresses, etc., this is gonna be even more interesting... Cheers Marc
Is it because new watches are so difficult to get for anyone that this grey "new watch" market exists?
If this does not stop, someone else will fill the gap as it seems so lucrative. Best, E.
