Rolex sub. Finally got off the waitlist. But now I already have one?

airansun · Mar 9, 2020

R radoncdoc
I inquired about the profit margins on flipping. Then asked if anyone here wanted it. I assumed that was clear I was offering first dibs before I tried to flip it, but obviously not.

What’s clear (original post):

R radoncdoc
If I buy this, how much can I flip it for? Is this worth doing? Anybody looking for one?

cvalue13 · Mar 9, 2020

However poorly worded, I'd believe OP that the above language was not intended to say "Id like to flip it to an OF member, so will an OF member first tell me how much profit they'll give me to flip it to them"...

stevec14 · Mar 9, 2020

The actual answer is as a flip, not a lot (certainly to a grey).

don’t be blinded by the prices you see. They rarely pay that, and you as a private seller won’t get that.

I would pass and let some other lucky person benefit from your good fortune.

radoncdoc · Mar 9, 2020

cvalue13
However poorly worded, I'd believe OP that the above language was not intended to say "Id like to flip it to an OF member, so will an OF member first tell me how much profit they'll give me to flip it to them"...

Thank you. Again, as you point out that would be nonsensical to come here and ask how much I can mark it up to another member here. I was honestly trying to do someone a solid here. Not sure what's with the extreme hostility and skepticism. It's interesting to learn demand has suddenly plummeted for these.

I was told, when I bought mine from the connection I had, that I bought it just in time because Rolex was planning to raise MSRP next year. Wonder if that's still gonna happen.

Kmart · Mar 9, 2020

R radoncdoc
Thank you. Again, as you point out that would be nonsensical to come here and ask how much I can mark it up to another member here. I was honestly trying to do someone a solid here. Not sure what's with the extreme hostility and skepticism. It's interesting to learn demand has suddenly plummeted for these.

I think what people are saying is that clearly the right thing to do here is just pass on the watch and let it go to the next person on the list. You don't need it, so don't buy it.

R radoncdoc
I was told, when I bought mine from the connection I had, that I bought it just in time because Rolex was planning to raise MSRP next year. Wonder if that's still gonna happen.

I think it already has happened from what I understand. Prices on all Rolexes have gone up ~10% or so in 2020.

Caliber561 · Mar 9, 2020

R radoncdoc
And at the end of the day, it's capitalism. Deal with it. Rolex is the bad guy here. Flipping wouldn't exist if were not for the policies Rolex implemented that created that secondary market, and you all know that.

And you know what gives the policies Rolex implemented their effectiveness? Opportunistic individuals such as yourself.

radoncdoc · Mar 9, 2020

Caliber561
And you know what gives the policies Rolex implemented their effectiveness? Opportunistic individuals such as yourself.

Did you miss the part where I decided to tell them to give it to the next person on the list?

I asked a question. You all jumped down my throat rather than politely making an argument as to why I should consider not buying it then basically called me a liar who was trying to somehow pawn off a marked up sub on a forum member. Regardless, I did think about it and agreed with you. But I guess the sin of simply considering something so economically basic as eyeing an opportunity and buying and reselling for profit (which happens literally all the time with all sorts of goods that nobody bats an eye at) is way worse than actually deciding to let someone else have it at MSRP.

You all are what gives watch enthusiasts a bad name. No need for any of that at all.

And fundamentally, no you're wrong. The demand of the watch is what causes Rolex to limit the supply. If the watch was undesirable, Rolex would not try and limit supply because they would just sit on shelves regardless and gray market flippers wouldn't be there because ADs would have them. What would happen if Rolex tried to severely supply limit a datejust such that you had to get a connection to get it? Most would just buy another model, because they're just looking for a Rolex.

Ok, well that about does it for me here.

Foo2rama · Mar 9, 2020

R radoncdoc
Did you miss the part where I decided to tell them to give it to the next person on the list?

I asked a question. You all jumped down my throat rather than politely making an argument as to why I should consider not buying it then basically called me a liar who was trying to somehow pawn off a marked up sub on a forum member. Regardless, I did think about it and agreed with you. But I guess the sin of simply considering something so economically basic as eyeing an opportunity and buying and reselling for profit (which happens literally all the time with all sorts of goods that nobody bats an eye at) is way worse than actually deciding to let someone else have it at MSRP.

You all are what gives watch enthusiasts a bad name. No need for any of that at all.

And fundamentally, no you're wrong. The demand of the watch is what causes Rolex to limit the supply. If the watch was undesirable, Rolex would not try and limit supply because they would just sit on shelves regardless and gray market flippers wouldn't be there because ADs would have them. What would happen if Rolex tried to severely supply limit a datejust such that you had to get a connection to get it? Most would just buy another model, because they're just looking for a Rolex.

Ok, well that about does it for me here.

Read what I wrote earlier... That's not exactly the reason why they are hard to get. Also Grey market and Flippers are 2 opposite things. Grey market exists because of excess supply and AD's needing to dump excess product, flippers exist because of not enough supply and ability to sell above MSRP. Rolex constrained to stop the grey and restore price points for AD's. Now that demand has slacked a bit due to how hard it is to get one, the flippers are not able to get profit anymore as the flipper prices on pieces that actually sell are very close to MSRP now. This is the end game for Rolex, and it looks like the plan worked and production will come back up.

Evitzee · Mar 9, 2020

OP.....you were offered a Sub after being on the list for a few years but you already have one. First off, I never can understand why people ask strangers what they should or shouldn't do when multi-thousand dollar purchases are concerned. Just make up your mind and move forward. If you think a Rolex Sub will go up long term then buy it, tuck it away and don't look back, and certainly don't look for affirmation here as you won't get it. With a savings account or money market fund paying next to nothing, and the stock market on a downward trajectory, hard objects like a Rolex Sub are a good storehouse of value. For those that think the right thing to do is refuse and let the next lucky guy have it, that is just their opinion. But if profit here is a dirty word why is anyone investing in the stock market long term, buying a house that they will likely see at a profit down the road, or investing in rental properties. This is an expensive hobby, there is nothing wrong with taking up an opportunity that you waited for years to accomplish. Buy the watch and do what you want with it.

Tri-national-man · Mar 12, 2020

Don’t the ADs withhold the certificate card for a year to discourage flipping? They do here in UK

oinkitt · Mar 12, 2020

Just buy it and wear it on the other wrist,

Nothing wrong with owning more than one of the same watch., its one of my guilty pleasures!!

bags1971 · Mar 12, 2020

Tri-national-man
Don’t the ADs withhold the certificate card for a year to discourage flipping? They do here in UK

Not anymore

jankymutt · Mar 12, 2020

Like everyone else mentioned, the minimal amount of profit an individual seller (with no prior sales history) is going to make on a SubC sale is probably not worth the hassle....especially with the current market.

dsacks30 · Mar 12, 2020

Just wanted to add that literally two hours ago I got a call from my AD saying the no date sub I put my name down for months ago was “finally” in. Given that I live in NYC the salesperson still said “you have 15 minutes to decide if you want it because this will be gone in an hour.” I thought about it but found it hard to justify given the Coronavirus and the economic uncertainty. I turned it down.

Unfamiliar_Moon · Mar 12, 2020

dsacks30
Just wanted to add that literally two hours ago I got a call from my AD saying the no date sub I put my name down for months ago was “finally” in. Given that I live in NYC the salesperson still said “you have 15 minutes to decide if you want it because this will be gone in an hour.” I thought about it but found it hard to justify given the Coronavirus and the economic uncertainty. I turned it down.

if this translates into calls for Daytonas, then I'll start squealing and and pacing my office. but I don't see that calming down for months, and by then the whole thing may have reversed back into scarcity and recovered markets.

Dan S · Mar 12, 2020

dsacks30
Just wanted to add that literally two hours ago I got a call from my AD saying the no date sub I put my name down for months ago was “finally” in. Given that I live in NYC the salesperson still said “you have 15 minutes to decide if you want it because this will be gone in an hour.” I thought about it but found it hard to justify given the Coronavirus and the economic uncertainty. I turned it down.

This reflects a return to normalcy. If you don't really want the watch, don't buy it. Bravo.

dsacks30 · Mar 12, 2020

Dan S
This reflects a return to normalcy. If you don't really want the watch, don't buy it. Bravo.

To be honest, I really wanted a Pepsi GMT on the jubilee bracelet (I know, me and everyone else in the world), but when I approached two ADs about it they both basically laughed and said they wouldn’t even take my name down. So I asked for the no date Sub as a consolation (a fantastic watch I really like, don’t get me wrong). I doubt the economic downturn and Coronavirus will lead to the amount of attrition I would need to get a Pepsi, but we’ll see (least of our worries). Yesterday someone asked Patekaholic on Insta if he thought this would clear up the Nautilus waiting list and he said no chance.

MTROIS · Mar 12, 2020

It indeed seems that Submariner ND are becoming more available... and the economic downturn will surely help further to make some of these more available.
At the same time, once the Sub line is refreshed with the new 32xx movement series, I would not be surprised if this changes again.

Dr.K · Mar 13, 2020

R radoncdoc
I've been trying to buy a new date SS-sub for years. I finally got one about 3 months ago from a contact who worked at an AD who had an "in" with Rolex.

It's great.

BUT... I was just contacted by the local store where I had been on a waitlist.

They have one for me.

If I buy this, how much can I flip it for? Is this worth doing? Anybody looking for one?

The market is dead. I wouldn’t do it. Although I’d accept a deeply discounted sub

Nobel Prize · Mar 13, 2020

R radoncdoc
Oh calm down guys. I literally asked if anyone here wanted it (for MSRP).
Most likely I will respond and tell her to sell it to the next guy.
But out of sheer curiosity, what is the profit margin on a re-sale?

That’s not what you asked. You didn’t say “ does anyone here want it at market price? You asked “ how much can I flip it for”

we’re not excited, just disappointed. As for the answer to your question just browse around gray sellers and see where it’s at.

But, unless you’re having a hard time making money just let someone else have it. We have all complained about the lack of availability and about people buying g only to flip, off setting the market value. Be part of the solution not the problem.