But real world scenario @cvalue13 how long have you been on the list for a GMT?
Rolex's strategy at the moment appears to be spot on. However, if a significant portion of current demand is driven by people buying Rolex's entirely (or even mostly) because they believe they will increase in value, then demand will drop precipitously as soon as Rolexes fail to increase in value for any sustained period of time (likely no more a year or two). If demand is in fact substantially built upon buyers relying on the "greater fool" theory of asset appreciation to justify their purchases, then this looks a lot like a financial bubble (see the dutch tulip bubble).
Good thing I prefer Omega 😀
So considering all of the above, what about a slight shift in thinking.
around 2015 Rolex looked at the Apple Watch and other smart watches and thought.....oh boy these are really going to hit our sports watch sales, we could be left with literally hundreds of thousands of these watches unsold / being discounted. Bad for margins, bad for brand. Let’s scale back production, if we create waiting lists we will know how many watches we actually need to make.
Now I’m not saying this was Rolex strategy but if it was it effectively introduced a pre order system through their waiting lists. They could also guarantee to sell what they made, and into the bargain created hype around hard to get models. It was a win win.
Maybe Rolex arent the hype machine I have previously created them for. Maybe they are a very cautious institution that limits production in fear of over production rather than trying to create hype.
I don’t know it’s all guess work, but it’s sits better with me as a business model.
What Rolex appear to have done is to resolutely stick with their existing product mix in the wake of this demand.
example of sales practice : I read today about a courtruling against a Salesman at an AD in the Netherlands whom got fired, in short:
Salesman knew a Submariner would be coming in the next day, swapped his workschedule to the early shift and made a call at work in the morning to somebody whom paid 6K, that same day the watch was on sale at a reseller for 10K.
That is so dodgy. Have heard rumours that this sort of stuff is happening.
First, thanks for this thread and everyone involved. Today I stopped in to my local Rolex AD thinking I'd have a look at the new 36mm OPs. I left feeling mildly irritated and fairly certain my contact information pretty much went straight into the trash.
I'm just not sure I buy it. I'm also not sure I really even care. Oddly enough I don't think the woman working at this jewelry store was much into the whole predicament either. She did let it slip that they'd received the sum total of exactly 2 OPs in 41mm.
There's so much bad baggage from all angles pointed out by everyone else here already. There are so many other watches out there instead. Aside from Omega I'm really getting into JLC and Cartier.
Thinking on it now it feels really odd I even left my contact information. None of this is positive and I have a lingering bad feeling related to this brand. I know this is a sales tactic when all I really care about or want to care about is the watch. Next weekend I am planning on visiting a different AD that carries more lines.
when Rolex starts treating me the way Omega does than I might consider buying another Rolex, This is what we should all do.
I've only really got 'into' watches in the last 18 months and have dealings with one AD here in the UK.
In that time I've bought one watch with them to-date, the A11 but was apparently #1 to put a deposit down for a Snoopy, apart from this I've bought a rubber strap and deployment for a Breitling and sent another Omega off for a service.
After the Snoopy I am debating what I'll save up for next in a couple of years time, an Omega Globemaster, a 3861 Speedmaster Professional (to complete a superb trio), a Rolex Explorer or Rolex Submariner. I've been leaning towards a Rolex next as the last 2 watches and the next due are all Omega, possibly the Sub to scratch a diver's itch.
After a couple of conversations with the AD about my thoughts on my next piece, I have to formally register my interest for a Rolex, fortunately as an existing customer and being local this appears to be just a formality and at some point in the future I'd be asked to place a deposit as I progress up the list.
Here's the rub... even if I register now, they expect 2-3 years wait on an Explorer and around 5 years for a Submariner.
Now I understand a wait, I've patently waited 6 months since placing a deposit for my Snoopy on 6th October when they called to confirmed I could order one via them, this has now been delayed a further 6 months as Omega delayed their allocation. I was hoping to buy a Submariner in a couple of years time for my 50th however it looks like it simply wouldn't happen.
At this point do I drop my thoughts on buying a Rolex or do I join their list and hope supply improves... I refuse to go grey. The fact I could just order an Omega, Globemaster, Speedmaster or Seamaster, choice of colour, material etc. does make me wonder, why bother trying?
The 2021 watches don't even really exist. It's all just about putting the deposit money in bitcoin. Damn you Hans Wilsdorf!
Honestly at this point, if Rolex dealers were revealed to be running a scam whereby they "borrow" their customers' money to invest in Bitcoin, I wouldn't even be surprised.
Also, it's crazy how much money people are okay with just giving away for months or in some cases, years. One guy apparently had a full deposit down for a gold daytona for almost 2 years. $30k, just sitting with a watch retailer instead of doing anything useful. Nuts.
That’s pretty nuts on a Gold Daytona I had no idea the lunacy had reached those unless its the “Mayer” one that has been hyped to the moon.
So this confirms that Rolex is artificially constricting supply
Here's the really interesting part though. At the last sales meeting that he went to with Rolex, they were obsessed with what they call the "secondary multiplier".
