Want to buy Submariner Rolex 116610LN - where to get retail price?

Posts
40
Likes
11
I am very confused.
The retail price is $8500.
The online retailers everyone says has the best price like David SW are around $9800.
Why this markup over retail?
Where can I get retail?
 
Posts
18,107
Likes
27,413
Well good luck finding one not marked up and in stock.

2nd only way to avoid sales tax is buy out of state and have it shipped. Technically you would then have to pay your states use tax at the end of the year on your state taxes.
 
Posts
40
Likes
11
I suppose I can just buy one next time I am in one of those states without sales tax.
But I thought Rolex dealers were not allowed to mark up above retail price.
Is it true that it is impossible to find a Submariner at retail price even at an authorized dealer?
 
Posts
5,501
Likes
9,399
recommend you search OF for a thread on availability of stainless steel rolexes.
 
Posts
1,543
Likes
1,965
Airport Zürich at 4pm , steel sub black with date for 8100 chf or usd
 
Posts
40
Likes
11
I will be travelling to Zurich next spring for 2 months. I can wait until then. I have lived in Zurich before and it was a very expensive city. Did not consider buying there due to cost of goods and VAT.

Is Zurich really the cheapest place to buy a Submariner?
 
Posts
40
Likes
11
Wow, ok. So of course after waiting 20 years, when I am finally in the position to buy my first Rolex the market has gone absolutely insane? Is this sustainable?

There is no way I am going to pay $2k over retail, which is already kind of nuts compared to what these watches sold for 10-15 years ago retail, for a watch from a non-AD. That's insane. Is that really the only route to get a new submariner? I can't believe it.
 
Posts
18,107
Likes
27,413
Wow, ok. So of course after waiting 20 years, when I am finally in the position to buy my first Rolex the market has gone absolutely insane? Is this sustainable?

There is no way I am going to pay $2k over retail, which is already kind of nuts compared to what these watches sold for 10-15 years ago retail, for a watch from a non-AD. That's insane. Is that really the only route to get a new submariner? I can't believe it.
Yup, no one knows why Rolex is doing this currently.
 
Posts
23,446
Likes
52,096
Wow, ok. So of course after waiting 20 years, when I am finally in the position to buy my first Rolex the market has gone absolutely insane? Is this sustainable?

There is no way I am going to pay $2k over retail, which is already kind of nuts compared to what these watches sold for 10-15 years ago retail, for a watch from a non-AD. That's insane. Is that really the only route to get a new submariner? I can't believe it.

Sorry, but it's absolutely true - believe it. Maybe consider a pre-owned watch (with boxes and papers) that is a few years old. The style and technology changes very little.
 
Posts
12,953
Likes
22,422
Wow, ok. So of course after waiting 20 years, when I am finally in the position to buy my first Rolex the market has gone absolutely insane? Is this sustainable?

There is no way I am going to pay $2k over retail, which is already kind of nuts compared to what these watches sold for 10-15 years ago retail, for a watch from a non-AD. That's insane. Is that really the only route to get a new submariner? I can't believe it.

Believe it.
 
Posts
2,808
Likes
8,339
I am very confused.
The retail price is $8500.
The online retailers everyone says has the best price like David SW are around $9800.
Why this markup over retail?
Where can I get retail?

Sorry about the sticker shock. We’re all as baffled as you.

Places like DavidSW.com and ChitownWatch.com are re-sellers who get stock from authorized dealers with whom they do a lot of business, so due to buying in large volumes they get 1st choice on watches and then mark them up 10-100% and re-sell with warranty and box, often still with the plastic stickers and unworn.

In 2015 I bought a Rolex GMT II BLNR from David SW, unworn with a freshly filled out warranty card from an AD in Singapore, for MSRP but without the $800 in taxes I would have paid locally. I spent 12 weeks on the local AD waiting list before I bought from DavidSW and had it the next day. I did very well on that deal.

In that same year I bought and Omega Grey Side of the Moon all ceramic watch from Chitownwatch.com for $4500 below retail, which is ridiculous.

This summer I traded my 2014 Rolex Explorer II, that I bought locally at MSRP plus tax, for a 1 week old unworn Rolex Submariner Hulk (green). But I had to throw in a 2014 Omega Seamaster Diver 300M and some cash to complete the deal. I’d have saved about $1000 in the deal if I’d sold the Explorer II myself vs trading it, but got a fair value on my SMPc trade vs what I paid, and I see these Hulk selling for $10,500 all day long!

Last month I traded a 9 year old Planet Ocean, plus my 3 year old Tudor Black Bay Red, and 20 year old Speedmaster date plus some cash for a Rolex SubC no date. This time I took another $1000 loss vs selling at market price and waiting for a new Sub at retail plus tax, but I have it now and I didn’t have to deal with scammer trying to steal my money by selling the trades to the general public. Plus I had not worn any of the watches I traded for the two Subs in the past year, and they were redundant pieces in my collection.

You just have to decide how much of a soaking you are willing to take in order to get one.

In my case I was willing to take some losses on these pieces because the new Rolexes that I’ve acquired are collectible and I can expect to get all of my money back if I’m willing to wait to sell them to the right seller.
 
Posts
40
Likes
11
Well that's all very disappointing. There is no way I am paying over retail price, especially from one of these places that is acting as an unnecessary middleman and driving the prices up for everyone else. Guess I will look into used or keep my eyes out over the next few years for an AD that will sell at retail.

Doesn't make any sense why Rolex just doesn't increase production to keep the watches on the ADs shelves to meet demand and sell at retail all day long and increase their profits by moving more volume.
 
Posts
618
Likes
11,030
Rolex appears to have very shrewdly realized that in this day and age, mechanical watches are a positional good (goods valued according to how they are distributed in the population, and not by how many of those goods there are in total) and are leveraging the Veblen effect to drive up profit per unit in a way that more than offsets the profit forgone from selling fewer units. I remember when I was first starting my career, the Sub was the go to, "just go my first real bonus check" watch for new analysts. Those who considered themselves to be connoisseurs might go for a Speedy Pro instead 😀 . Seeing as how a new Sub now appears to sell for upward of $9K online, I wondered if maybe my memory was faulty. Nope, turns out the list price for a new Sub in 2000 was only ~$3K. That's ~$4.5K in today's dollars. So, Rolex has achieved a 100%+ increase in the real market price of one of their most popular models. I seriously doubt that they are seeing volumes that are down 50% relative to what they would have been at the old $4.5K price.

Good for Rolex. Not as good for would-be Rolex buyers I guess.
 
Posts
40
Likes
11
Well looks like I did it backwards by buying a speedy pro first instead.
Makes me not even want the Sub anymore. Feels kind of douchey overpaying for something that much just for the name. Obviously quality of the watch does not justify that price when the same watch sold for half as much 18 years ago without any increase in real costs to manufacture.
 
Posts
5,501
Likes
9,399
without any increase in real costs to manufacture.
What is this claim based on, if you do not mind me asking.
 
Posts
40
Likes
11
What is this claim based on, if you do not mind me asking.

The fact that it's made out of stainless steel and not a precious metal.
Am I wrong?
 
Posts
5,501
Likes
9,399
The fact that it's made out of stainless steel and not a precious metal.
Am I wrong?
I don't know. Obviously metal costs have not remained constant over that time period. And with tightened environmental requirements, fuel costs, etc. manufacturing in general has gotten quite a bit more expensive. And on the HR side of things, there have likely been new/ additional costs over those 18 years. I don't see too many manufactured goods that have only increased in price to match inflation.
 
Posts
499
Likes
1,052
It is not impossible to buy a stainless sports model at retail. However, you must be a regular customer at that AD or perhaps buy that 116610LN with one or two other watches at the same time as a package deal (perhaps a Datejust).

The requirements are out of reach for the majority of the population so most people pay premium. If you don't want to, I would suggest you go for an older 16610. For me, it makes more sense to pay a premium for something which is no longer in production than for something which is technically still available.
 
Posts
1,325
Likes
1,870
I don't know. Obviously metal costs have not remained constant over that time period. And with tightened environmental requirements, fuel costs, etc. manufacturing in general has gotten quite a bit more expensive. And on the HR side of things, there have likely been new/ additional costs over those 18 years. I don't see too many manufactured goods that have only increased in price to match inflation.
During this time the quality of Rolex SS has increase as they went from 316 to 904 SS, which is much harder. But still doubt this warrants the relative price increases over their watches from yesteryear.