Hi all, I recently visited the AD here and he is selling all the sports steel watches at a very high premium (almost at par with some watches listed on Chrono24). Is there anything we as consumers can do about it? Thanks in advance AJ
Nothing illegal about it. In the jurisdiction where I live, anyone can offer for sale anything he has to sell, for any amount he wishes to sell it for, in excess of MSRP. Or less than MSRP if he desires. The retail customer has two choices. Buy, or don’t buy. On the other hand, I was in the retail jewellery business 45 years ago, working for a jewellery chain. The managing director of a (name not specified) major watch manufacturer walked into the store during our annual sale. We had his line of watches ticketed at 25% off. I was told to remove the sale price tags. I did. They went back on the following day. Without getting into the whole sordid story about what followed, about 5 years later, I was subpoenaed to appear as a material witness at a trial in Toronto. It was a five day trial! I was asked if I had ever been told to remove sale price tickets from the product line in question. My answer was in the affirmative. That court case cost that company $28,000.00. Probably $75,000.00 today. The department of consumer and corporate affairs had charged that brand with price fixing. The only recourse a company has is to refuse to sell their product to an offending retailer. This particular managing director was new in Canada, from Switzerland. Do I understand that Switzerland has legislation that makes it illegal to offer a product for sale for LESS than MSRP. Apparently, 45 years ago, that was the law there.
Don't think brands will accept their AD's marking up new watches above MSRP , could be it's not new anymore.
unfortunately they are all fresh pieces, subs, sea dwellers, deep seas. and i dont think he has a system of wait list,just buy at a premium.
If a Company sets the price of a watch at X then AD's cannot sell brand new products above this price, if the AD is doing this then it has to be asked if they are a genuine AD or a grey dealer? If the watches are not new there isn't a problem but if the AD is stating that they are brand new and giving customers a full warranty package, their name on the card etc., but charging a premium then I would say that they are trading illegally. Not sure what country you are in but in the UK we have what is called Trading Standards, these people can close down and/or prosecute shops that trade in this way.
Sounds fishy to me, grey dealers can ask what they like but as far as I'm aware all AD's must sell at the local price set for that country by Rolex.
How is that possible? There is no contact us form in the website. And I believe the other models like datejust are being sold at the company suggested price and even offering discount. But charging premium on the steel sports model. It's very frustrating becuase I read people in waitlist buying watches at retail but here (Nepal) that is not an option
MSRP stands for Manufacturer's Suggested Retail Price. I do not believe it carries any statutory enforceability unless a particular jurisdiction's consumer legislation decides to give it such. However, it may well be that the agreement between the manufacturer and an authorised distributer/dealer specifies the prices or price range that they can offer the products for sale at. However any consequences of the AD breaching this agreement are a matter for the parties to the agreement to sort out. It does not convey any rights regarding price to a potential buyer.
No law in Nepal as such for the retailer selling at a price higher than MSRP. Ok will surely tweet them! but its sad that the AD is taking advantage of the this high demand to make such extra money.
Whatever the law, its just unethical practice and I am sure Rolex as a company would not want this to be happening at their own authorized dealers. I am also very sure that they will surely listen to it and reprimand the dealer in question (if not cancel the dealership). Only if there is a way to reach them and someone receiving the complaint is wiling to take it up to his bosses.
In Canada, who polices retailers who offer goods for more than MSRP? The people who may (or may not) buy. And do I not hear tales of people selling rare and desirable cars for more than MSRP? And not only in Canada!