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I don't understand the recent Rolex SS craze/shortage. What am I missing?

S
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Eve Eve
I am very unexperienced with this brand, but purchased the new 36mm Explorer few weeks ago from our local OB. Since it was the only watch i was interested in, cant say what the wait lists for other models are, but the seller at the OB told me, that that they havent received a single coloured OP yet. Which sounds kind of crazy. I am also a bit surprised i got the Explorer after only 2 months of waiting. I was there ~1 year ago the first time to try the 39mm Explorer, but i didnt like it, so did not buy it. Maybe they remembered me, but i doubt it.
Interesting I bought my explorer also last year and got it in 2 months.
 
Seacow
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S Shay
Has anyone got experience with getting the coloured OP? I meant in terms of waiting time?

Local AD here in canada can order it. Waiting will be around 4 to 12 months. I ve seen they had a green 41, orange 36.
 
rfcs
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jankymutt jankymutt
Background: I'm a new Omega fanboy and have been admiring my co-workers vintage Pepsi. When I enquired about the cost/availability of one at my local AD I was nearly laughed out of the store.

So I went home and starting research Rolex and the SS "shortage" issue on the rolex forum but I still don't understand the rolex craze. I think they are beautiful watches, have amazing functionality, history, and style. However, EVEN if only paying retail for a submariner, why would I pay $7.5k when I could get a seamaster for $4k? Not to mention the insane grey market prices on the submariner and GMT's!

People keep mentioning a Rolex bubble, but it seems like that is non-sense. Even the 1 million produced by Rolex will not adequately supply the demand in China, with it's exponentially growing middle class.

I guess my question is, why are people buying into the hype and paying double/triple retail for these SS watches!? When you get into the $15-20k price range it seems like there are much better watches you could spend that money on!

Please educate me!
For the same reason that some folks pay a lot more dough for a Porsche 911 with less horsepower and 6 cilinders than Ford’s GT350 with a flat plane v8. Have you ever owned a Rolex?
 
NYCwatchgal
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I've been not following watches since the beginning of 2020 until yesterday.

As I was waiting for the dealer to work on annual maintenance of my car, I went by a pretty big luxury brand watch store. They're a Rolex AD too. I noticed there were no watches on display. I asked the sales rep to see if they were inside a vault or something. They said they're all sold out and no inventory has come in. I was shocked.

I called my AD who sold me my Rolex OP 34mm champagne dial in 2017 and he confirmed that he used to have over 200+pieces in display and today, he only has 10 pieces - all women sizes except for one.

I just texted him how long it will be get a 36mm DJ/white gold in black or silver dial in stock. Praying it won't be years 🙁

Grateful to read everyone's theories here on this forum 😀
 
pdxleaf
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rfcs rfcs
For the same reason that some folks pay a lot more dough for a Porsche 911 with less horsepower and 6 cilinders than Ford’s GT350 with a flat plane v8. Have you ever owned a Rolex?

Not exactly sure of your point. Pretty sure anyone who has driven a 911 would choose a 911 any day. I prefer going fast around corners as opposed to fast quarter miles. Not to mention bullet proof build quality.

For the record, 911 and speedmaster.
 
rfcs
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pdxleaf pdxleaf
Not exactly sure of your point. Pretty sure anyone who has driven a 911 would choose a 911 any day. I prefer going fast around corners as opposed to fast quarter miles. Not to mention bullet proof build quality.

For the record, 911 and speedmaster.

Love my Speedy FOIS too! My point is that the GT350 is a driver’s car like the 911 and a better value, but many folks would pay more for a 911 like they do for Rolex. Is Rolex a “better” watch than the all the rest, of course not, but there’s a demand and allure to the brand and products from many years of brilliant marketing and reliable performance.

For the record GT350 and Sub 14060M.
 
MTROIS
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rfcs rfcs
Love my Speedy FOIS too! My point is that the GT350 is a driver’s car like the 911 and a better value, but many folks would pay more for a 911 like they do for Rolex. Is Rolex a “better” watch than the all the rest, of course not, but there’s a demand and allure to the brand and products from many years of brilliant marketing and reliable performance.

For the record GT350 and Sub 14060M.

While the GT350 is definitely a driver's car and also MAY provide better value than a 911 for most people, there is however no doubt in my mind that the 911 is a FAR better car than the GT350!

Heck, even my M2 Comp is a better car than the GT350 IMHO, especially when the road is getting twisty and/or with uneven surface. The GT350 has an amazing engine (and sound), but is on the heavy side and its frame cannot keep up with anything that is not a race track grade of road. The 911 is in another league yet, and while the price increases exponentially vs. performance, many people lust after it, just like fine wines, cigars, etc.

On the other had, I fully agree with your assessment when it comes to Rolex watches. If you now compare a Seamaster 300 to a Sub, for example, then the comparison definitely holds on technical merits (and some, like me, would argue that the Omega is superior to the Sub from that PoV), clearly the Omega is better value, but clearly, at least right now, for the vast majority of the people (of which, we, WIS, are only a minute fraction), the Rolex is the one to have because of the image it projects.
 
G
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S Shay
Has anyone got experience with getting the coloured OP? I meant in terms of waiting time?

I went into Watches of Switzerland today to ask as I thought the Tiffany blue would be a nice present for my wife later down the line (was thinking sometime in 2022) and I have no need or rush to pay 3x retail to have it now. Salesperson basically told me no point getting on the waitlist and he looked at me with disdain. Really annoyed me actually. It’s the attitude I dislike
 
sxl2004
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Wempe at Frankfurt Airport only had display models. Not a single Rolex in stock.
 
NYCwatchgal
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Of the 16 ADs I called across the country, they are ONLY taking orders on DJs if they take orders. Nothing else. A few ADs were not even taking DJ orders.

The AD I bought my OP champagne dial in 2017 wasn't taking any orders. He said call back early next year and see what it's like but not likely to change any time soon.
 
DoctorEvil
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G Gamma
I went into Watches of Switzerland today to ask as I thought the Tiffany blue would be a nice present for my wife later down the line (was thinking sometime in 2022) and I have no need or rush to pay 3x retail to have it now. Salesperson basically told me no point getting on the waitlist and he looked at me with disdain. Really annoyed me actually. It’s the attitude I dislike
Arrogant pricks. It's stories like yours that are starting to turn me against Rolex as a brand. If they don't want your money, then take it to someone else who does. There's plenty of other great watches out there.
 
sxl2004
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DoctorEvil DoctorEvil
Arrogant pricks. It's stories like yours that are starting to turn me against Rolex as a brand. If they don't want your money, then take it to someone else who does. There's plenty of other great watches out there.

Rolex is selling all the watches they produce, so what is not to like for them. The ADs make more money selling to grey market dealers than to customers, so they are happy too.
Best
 
jhross98
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This thread is very long

I love 36mm steel rolex i have to say

If there's a better one collection I don't know what it is

20210812_132822.jpg 20210811_171508.jpg signal-2021-08-07-195535.jpg signal-2021-08-07-195521.jpg
 
DoctorEvil
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jhross98 jhross98
This thread is very long

I love 36mm steel rolex i have to say

If there's a better one collection I don't know what it is

20210812_132822.jpg 20210811_171508.jpg signal-2021-08-07-195535.jpg signal-2021-08-07-195521.jpg
Fits you perfectly! 😀
 
S
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G Gamma
I went into Watches of Switzerland today to ask as I thought the Tiffany blue would be a nice present for my wife later down the line (was thinking sometime in 2022) and I have no need or rush to pay 3x retail to have it now. Salesperson basically told me no point getting on the waitlist and he looked at me with disdain. Really annoyed me actually. It’s the attitude I dislike
I think what is true is the demand is high for Rolex and above supply. But sometimes I wonder whether there is a fair allocation also. If you look at the grey market on the amount of watches bring sold.
 
pdxleaf
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To answer the initial question (what am I missing), is that we still think of Rolex as a watch company. It isn't.

Sure, they make watches, but people have ceased to see the products as watches, at least the majority of people who aren't watch collectors. (Ie people who don't only buy and own Rolex.)

The majority of people buying into Rolex consider the brand as a substitute form of currency. Similar to a diamond or block of gold, the commodity becomes disassociated with its physical merits and becomes valuable only in relation to its perceived rarity, or market value.

People buy Rolex watches and put them in a safe. People buy Rolexes as an alternative to sticking cash in the bank. People buy Rolexes to easily transport them across borders. People pay other people with Rolexes. What else does that sound like? An alternative form of currency. Pretty beads and shells.

There are still Rolex fans who buy only Rolex because they think they are a great watch and can't be convinced otherwise. It is impossible for them to believe that everyone else doesn't secretly want one or that other people might truly find many (or all) of the modern brand distasteful or boring. Part of their inability to entertain that thought is their fear that their collection's value will disintegrate, much like how a person who buys a stock can't stand to hear negative news about their stock.

What's going to happen in the future? No idea. It could continue the way of gold and jewels, with ups and downs tied to the monetary system. Or it could crash when money gets tight and all the Rolexes come out of the safe as people try to dump their hyped watches to a flooded market.

IMHO, it makes sense when we stop thinking of them as a watch company. Only when I look at them as a watch and compare them to other watches does it no longer make sense. Truth be told, i would like to have a 1675, but mainly because they were the favorite personal watches of Astronauts. Plus I liked them when I didn't know much about watches. But the prices are insane when compared to all the other great and better watches I could buy for the same money. When I think of Rolexes as a commodity, then it makes sense.

But what do I know? I'm just an Omega fanboy.
 
ckhaing
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so rolex is becoming a de facto currency substitute / proxy i guess
 
S
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pdxleaf pdxleaf
To answer the initial question (what am I missing), is that we still think of Rolex as a watch company. It isn't.

Sure, they make watches, but people have ceased to see the products as watches, at least the majority of people who aren't watch collectors. (Ie people who don't only buy and own Rolex.)

The majority of people buying into Rolex consider the brand as a substitute form of currency. Similar to a diamond or block of gold, the commodity becomes disassociated with its physical merits and becomes valuable only in relation to its perceived rarity, or market value.

People buy Rolex watches and put them in a safe. People buy Rolexes as an alternative to sticking cash in the bank. People buy Rolexes to easily transport them across borders. People pay other people with Rolexes. What else does that sound like? An alternative form of currency. Pretty beads and shells.

There are still Rolex fans who buy only Rolex because they think they are a great watch and can't be convinced otherwise. It is impossible for them to believe that everyone else doesn't secretly want one or that other people might truly find many (or all) of the modern brand distasteful or boring. Part of their inability to entertain that thought is their fear that their collection's value will disintegrate, much like how a person who buys a stock can't stand to hear negative news about their stock.

What's going to happen in the future? No idea. It could continue the way of gold and jewels, with ups and downs tied to the monetary system. Or it could crash when money gets tight and all the Rolexes come out of the safe as people try to dump their hyped watches to a flooded market.

IMHO, it makes sense when we stop thinking of them as a watch company. Only when I look at them as a watch and compare them to other watches does it no longer make sense. Truth be told, i would like to have a 1675, but mainly because they were the favorite personal watches of Astronauts. Plus I liked them when I didn't know much about watches. But the prices are insane when compared to all the other great and better watches I could buy for the same money. When I think of Rolexes as a commodity, then it makes sense.

But what do I know? I'm just an Omega fanboy.
I hear what you are saying. But when you talk of gold it is one commodity. When it comes to Rolex only sports watches are in demand. They struggle to sell other watches. So what would happen if the trend change? Also in the last year we have seen how Rolex have managed to make OP desirable. Rolex are good watches, but only time will tell if the prices still grow crazy or if they will hit the ceiling.
 
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