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Interesting article on Rolex marketing

  1. flw history nerd Dec 29, 2022

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    Fallout Boy likes this.
  2. MTROIS Dec 29, 2022

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    Don’t have access…::shy::
     
  3. flw history nerd Dec 29, 2022

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    Oops - sorry. I'm not a subscriber to the site, but the article came up in my news feed in full text. If you Google "Rolex" and hit the news tab, it may come up for you. Worth a look if you have time.
     
    janice&fred likes this.
  4. bananapeanut Dec 29, 2022

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    It's interesting (but no coincidence) that the Financial Times waited until the bubble has burst to publish the story of a Rolex AD's employee buying watches under fake names and reselling them on the secondary market. It's been happening everywhere for four years and everybody knows about it.
     
  5. Fatcat Dec 29, 2022

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    Nothing new since 10 years many AD done it
     
  6. JMO1995 Dec 29, 2022

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    I read this article last week and having done very little research just over a year ago, I quickly came to the conclusion that this was happening on a large scale.

    Lots of videos and forum boards online regarding it happening without concrete evidence. I don’t like to assume but when I was reading that these new watches could sell for 50-100% premium on the grey market, unfortunately I can’t help but think there will be enough individuals that will exploit their positions for monetary gain.
     
  7. Foo2rama Keeps his worms in a ball instead of a can. Dec 29, 2022

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    Grey market is not the flipper market 2 different things.
     
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  8. gatorcpa ΩF InvestiGator Staff Member Dec 29, 2022

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    For those who want more information on the court case mentioned in the article (from 2021).

    https://omegaforums.net/threads/i-d...-what-am-i-missing.95204/page-37#post-1720220

    https://omegaforums.net/threads/maj...-directly-to-grey-market.127461/#post-1722240

    This is kind of old news. It will be interesting to see what will happen if a trial actually happens. I do not think this will ever go to trial. CD Peacock will write some checks to its former employees and all of this will quietly go away.

    Rolex USA might even help them out, as the bad publicity will likely rub off on the Crown.
    gatorcpa
     
  9. SC1 Dec 29, 2022

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    100%...
    The Crown has infinitely deep pockets, this will disappear.
    After all, in a world where folks are starving to death this is news that 99% of the earth's population cannot even begin to fathom nor give a rat's ass about.

    Now if this was a supermarket chain or natural gas or crude oil thing... well. :thumbsup::rolleyes:
     
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  10. JMO1995 Dec 29, 2022

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    Is this aimed at my comment?

    I was trying to point out that the huge premiums that these new Rolex models go for on the grey market will result in individuals who have direct access to new Rolex’s (sales people / managers of AD’s, etc) to sell these Rolex’s to the grey market dealers for a premium over MSRP. The grey market dealers will then add on a further sum to cover their overhead and profit to sell to their retail customers.

    Or have I misunderstood what’s going on?
     
  11. Foo2rama Keeps his worms in a ball instead of a can. Dec 29, 2022

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    Grey Market is not the flipper market, you are confusing terms.

    The Grey market is watches sold with no warranty. These watches are on the market as dealers are given a yearly allotment of watches and sometimes they cannot sell them all, then they sell them to the grey market dealers at a large discount as this is the only way to dump these watches., this is against their dealer agreements. These watches sell at discount and have no warranty.

    Rolex started constraining production about 8 years ago to stop this, and they succeeded, creating a different problem for them.

    The flipper market is another beast, this is people that buy expressly to resell the watches over MSRP, sometimes this involves sales people. This happens when production is constrained below market demand, and happens on some models.

    These are 2 totally different terms.
     
    Lonestar, George.A, JMO1995 and 3 others like this.
  12. SpeedyPhill Founder Of Aussie Cricket Blog Mark Waugh Universe Dec 30, 2022

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    ::book::
    .
    Rolex_Marketing.jpg
     
    chrisb732 likes this.
  13. spacemission Dec 30, 2022

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    I know some guys that said that the moonwatch with calibre 1861 was the last one certified by nasa and it was la crème de la crème, without considering 321, 861 and underestimated the coaxial scapement and metas. Later, they sold them without losing money. Nowadays they post blatantly their 3861. See to believe it.

    We could talk about the rolex marketing another day.
     
  14. gbesq Dec 30, 2022

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    My favorite quote from the article:

    “The scarcity of our products is not a strategy on our part,” Rolex says.

    Perhaps not, but it’s hard to believe that Rolex isn’t well aware of the number of its watches that are disappearing out the back doors of ADs and reappearing on the websites of grey market sellers at a significant premium. It’s also hard to believe that Rolex has done much to stop that practice.
     
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  15. JMO1995 Dec 30, 2022

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    Thank you for the clarification, what would something like Chrono24 be considered then, a grey market dealer or a flipper?
     
  16. gbesq Dec 30, 2022

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    Neither. They are a sales platform like eBay except that they specialize in watches.
     
    JMO1995 likes this.
  17. TDBK Dec 30, 2022

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    You can read the article here: https://archive.vn/cnTOV. I didn't find anything new in the article other than more details about CD Peacock (but it's not informative about the market, just murky allegations about a jewelry store employee dispute). The illustrations are a nice conceit.
    Screenshot_20221230-085026.png
     
  18. JMO1995 Dec 30, 2022

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    Oh okay, so they can have both private sellers or businesses selling on their platform and they take a selling fee?

    What is a good example of a grey market dealer?
     
  19. YY77 Dec 30, 2022

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    Jomashop
     
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  20. Foo2rama Keeps his worms in a ball instead of a can. Dec 30, 2022

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    Bull!

    Rolex admit it started this a few years back to stop the Rolex Grey Market.

    then went silent…