Boris
1009
Hi Captain
I think it is a significant problem at least in HK. The example I gave above is now in practice at some major Rolex AD’s, i.e. if the retail price is HKD 70k and the market price HKD 120k, they sell you the watch with an official receipt for the retail price, then issue an invoice for HKD 50k for non existent “services”, that you have to settle with another credit card or in cash.
Then, there is the fact that you have absolutely zero sports / steel model at any of the AD’s, but shortly after new such model are released, grey market dealers have dozens of them. One of those dealers pretty much admitted he got them from an official AD.
So yes, at least in this city, it is an issue. Not that I am surprised, considering the level of greed prevalent in the Hong Kong tycoon families controlling those AD’s.
Rolex Production Statement …
"The scarcity of our products is not a strategy on our part. Our current production cannot meet the existing demand in an exhaustive way, at least not without reducing the quality of our watches – something we refuse to do as the quality of our products m...
Interestingly
Rolex is monitoring instagram or instagram is monitoring Rolex. Either way. If you try posting a boycott post and hashtag Rolex, it gets removed instantly.
Strange phenomenon
First the ZW had some posting issue on insta. Today, i tried posting a hashtag on rolex on insta and it was instantly removed. Makes me wonder who really runs insta nowadays. They can silence opinions as they wish.
At least they didn’t disable your account…
Try the words Aquanaut, 5167A in comments or in hashtags. Too much censorship…makes me wonder if US is becoming like China now 😅😜
This is the first I've heard of this...
Probably some executive at Instagram/Facebook who can't get his Patek or Rolex and is trying to do what he can to curb the wait list. Remember when Silicon Valley peeps were hacking the restaurant reservations for State Bird Provisions... This is how Sili...
Hmm. How strange...
Some Instagram employee probably classified it under some sort of "political hate speech" or something. Or the algroithm caught it as something and the persons overseeing the algorithm didn't reverse the algorithm's red-flagging of it. Or some Instagram e...
Hi Fab …
It was certainly an interesting decision to release a statement at this point in the Rolex saga. I was particularly interested in the last paragraph of the statement “ Finally, it should be noted that Rolex watches are available exclusively from official ...
Agreed. And very empty statement.
They're just saying, "it's not our fault" and that it might be the fault of the dealers who independently make the allocations to their customers.
How much is really done by hand??
I’ve been told by many in the watch industry that Rolex watches lack the human touch. Some will tell you that the movement is still regulated by hand and that everything else is done by machine. Others say the entire production process is automated and no...
They make millions of watches...
Obviously there isn't much skilled/human involvement lol
With a huge break
Production was paused. Afaik normal years are into the 7 figure mark.
Usually 1.000.000 pieces indeed
From what I heard (someone who visited the factory), a human is taking care of the assembly but there is a crazy automated parts warehouse that the worker can just summon at any time to get the needed part. Many of us here would pay dearly to have the cha...
Labor shortage
Google “labor shortage” Look at the articles on it. Historically difficult time to hire
This is very true...many died, many at/close to retirement decided not to re-join work force after pandemic and like to enjoy life before too late.
Restaurants, production facilities are scrambling to hire with sign-on bonuses unseen for servers, chefs and operators. Bizzarre times....I really cannot fathom the 1+ year of pandemic can allow people to save some much money (from not travelling or eatin...
You would be very surprised by the budget management of some people...
Just having 2-3 months of extra savings completely change their habits (not even mentioning the free checks distributed by US Mail)
+1
I’m thinking of boycotting Rolex shortly. I had enough of the hype and feel very insulted every time I make a sincere effort to buy a piece.
That being said
AP service is top notch. I sent the service centre an email about servicing my piece today, and they replied very quickly and efficiently. I guess the reality of the industry is of inelastic demand - they can price it how they like it and it is up to the ...
Very disappointing statement/transparent marketing opportunity...
The way they've so pedestrianly leveraged the current sales dynamic into a self congratulatory sales pitch ("by hand" no less), is as transparent as their ending reference to allocation (not our fault, ok) and borders on the ridiculous. If this is all the...
I Believe Rolex
We have material shortages, shipping delays, finding additional quality watchmakers, expanding production only to the 'safest' levels..... A problem is extreme currency production by central banks that is far outstripping the supply of material goods to p...
Wow that’s something. They must be really feeling the heat to come out with a statement..
Any sort of explanation coming out of them is as rare as seeing sports watches in their windows.
Throwing the ADs under the bus is funny, but the timing of this is interesting. I mean, why now?
My guess would be the holiday is coming, supplies are still short relative to demand and I bet they are starting to see brand signals that are worrying them. Pure speculation on my part but we've all seen the stories about empty ADs and people broadening ...
And that is where Tudor swoops in
With own stores, and plenty of watches readily available
Exactly
Move on to other brands offering wonderful stuff. Go Omega, Blancpain and Grand Seiko. Let’s see if they can capture the pie that Rolex “rejected”. If they continue doing this, they will have a huge backlash and loss of confidence from all consumers. We a...
Ok… but…. They clearly know their ADs sell the SS sport pieces out the back door to bundle all Precious metal pieces???
Meaning they are aware and allow their ADs to sell directly to the grey dealers… every company has the right to capture the market price for their goods…. Just don’t hide behind that it’s not purposeful.
Time for me to exit
It’s time for me to sell off my Rolex. I don’t even bother about making a profit. It defeats the spirit of watch collecting. My friends from Middle East told me in their culture, it is frowned upon to hoard over commodities and raise the prices artificial...
This is how things work in western-world societies, charity is for Sunday mornings!
It comes from a hundred years’ tradition and it won't change as long as it keeps being FREE for buyers to act irresponsibly and selfishly! As for the statement, the company wanted to find a place among the top luxury watch manufacturers since a long time ...
Yes, I was surprised Tudor became the herring
It is as though they use tudor to temporarily satisfy the hunger for those who want something similar. This was mentioned in quite a few podcasts and youtube bloggers.
You never actually own a Rolex in present days…
You merely put your name on the listing list for the next generation 😅
I tend to believe this statement!
Also find it proper. ROLEX should just focus on making quality watches without compromises, and AD’s should worry about selling them. I personally value loyalty to an AD and vice versa. I feel that we see the same tendency in most other brands, AP, Patek,...
"it should be noted that Rolex watches are available exclusively from official retailers, who independently manage the allocation of watches to customers"
This is a complete joke, an abdication of any responsibility on Rolex's part regarding what happens to its watches once it hits the AD. Rolex used to say that ADs would be monitored and would lose their dealership if Rolex discovered that dealers were sel...
Sensitive and surpricing
The company make a lot of advertising. This could fuel up the demand, so me as a non commercial person do not understand it. Capacity is limited, ok, this is possible. New production locations is for special products not easy maybe. A luxury problem anywa...
"IF" Rolex sells the watch to the grey market by third company is real AND "IF" Rolex is more than just a watch
The result will like below ex: Daytona 1.5w, grey market price 3.3w The third company sells by 2~2.5w>grey market almost has 20~40% profit. That can explain why the grey market always has Daytona. The AD of Asia need to buy 3.6w garbage first, then you wi...
That is a clear reply
Agree. How Rolex watches roll into grey market. Someone sells his watch to a grey trader. Grey trader buy not popular Rolex watches. Time changes, the public now want the models. For example the Milgauss, Oyster quartz. Sure, also submariners find ways to...
Not commenting on the shortage would have been better that this completely hollow statement
They conveniently throw the AD's under the bus, while utterly failing to crack down on their dodgy practices of instantly flipping hot models to grey dealers. Or charging a second invoice for "services" to capture the difference between list price and mar...
Hi Boris …
Thank you for sharing your thoughts on this subject. Do you feel that the Rolex AD network is a significant part of the problem ?
Hi Captain
I think it is a significant problem at least in HK. The example I gave above is now in practice at some major Rolex AD’s, i.e. if the retail price is HKD 70k and the market price HKD 120k, they sell you the watch with an official receipt for the retail pr...
Thanks for sharing, Captain!
Most of the time I dropped by my local Rolex AD in a big mall, I saw happy folks coming in to pick up their watches. They got the calls apparently, came in, sat at the counter, and later walked out with a green bag. It looks like that there are still a lo...
My brilliance
I can say that I’m an old Rolex collector even if I’m not old... Of all the Rolex currently in production, I only like the Platinum Daytona. The other references, Daytona steel, all the rubber l, all submariners and Gmt are transitional models, which I do...