Almost as frustrating as the current Porsche GTR3 situation, might as well do this
Sorry, I apologise for starting another Rolex thread that involves an AD, withheld paperwork, and of course our favourite subject profiteering but there is a story of old..
Talking with a friend today who knows I like watches, he proceeded to tell me about a mutual friend we both know well, this mutual friend has just purchased the latest hard to get Pepsi GMT, he said that he paid £16k for it and the guy he purchased it from paid retail around £7k so £9k profit, I think another Rolex was involved as a part trade so not all cash but still big profit, highstreet AD kept the paperwork but that still didn't deter the sale..
Nothing really surprising here but what did catch my attention was the seller is in the top 3 customers of this AD for purchases, he also admitted he makes £30k+ a year from waiting lists!
Yes I have read about similar situations on here, but hearing of this type of dealing within people I know really makes me wonder how many are topping up their salaries every year by having a cushty AD relationship, no wonder its so hard to get on a waiting list for the genuine purchaser..
Almost as frustrating as the current Porsche GTR3 situation, might as well do this
Perhaps it's time for a "Consolidated moan about Rolex dealers" thread like the "Consolidated Rolex in the window" thread so that everyone who needs a cathartic rant about not being able to spend £6000+ on a new watch/it's soooo unfair can get it off their chest in one place.
You need money to make money and sadly that’s why the folk that can afford to buy these kind of nice cars and watches will continue to make huge money on these goods. There is a chap I see from time to time on car meets who will frequently buy two of a waiting list car (he did it with a 675 LT for example) to drive one and keep one locked away and make money on. Sadly anytime supply is limited people with the wedge will be in a position to make the most of the situation while the rest can’t buy the goods or find the money for a one off purchase and pay over list.
What I don't understand is how these types get on the list in the first place, buying large volumes of hot models. I'd happily walk in to an AD and sign up for 10x GMTs and 15x Daytonas, but I'd get laughed out.
That may be the case with some AD’s but it’s not with mine..
I’ve bought 3 hard to get watches from them in the last 18 months. They’ve never once said or hinted that I need to buy something I don’t want, just to be able to buy something I do want..
First watch Sub
Second watch SD
Third watch Pepsi
They know I’m not a flipper or profiteer, so they’re happy to give me a call....
Despite offers like this on the Pepsi, I have no intention of selling.... I was intrigued to see what a grey dealer would offer
I think there are a lot of forum stories out there about how hard these watches are to get.
Wow that’s amazing, I’d happily get my hands on exactly those three and keep them (not a flipper either), but all ADs near me (London unfortunately) don’t even want to put me on a waiting List. Are you able to share with me your dealers contact? (Understand if you don’t want to)
I suspect that due to your location it might not be that much use to you, but it’s not a secret.... I buy from Mappin & Webb in Chester.
Be aware, that like most AD’s they’ll have a list of preffered clients, and you don’t get on it just by phoning up, and asking for the latest and greatest unavailable watch...
I think I’m a valued customer, but I still can’t get a Daytona....
Rolex has become the “snowflake” of watch brands.
Sometimes worth investing in the local AD as this seems to change their response when asking about a desirable piece....
I'm so glad I've "grown up" out of the "need" for the must have Professional Series Rolex.
The one's I'm now interested in are readily available (well ordered in) usually with discount. Just a shame I'm not in the market for anything at the moment, but these posts are most entertaining.
I've found the best antidote is to buy a GS and revel in the better craftsmanship, engineering and accuracy.
"A man of little significance"
it's not all bad... strolled into an AD yesterday, fancied an OP which had come in the day before, tried it. Bought it. Was allowed to keep the warranty card etc. Bloke couldn't adjust the bracelet for toffee but I did that myself afterwards.
I wonder if any of these ADs are in on it and take their cut...
I went to a few AD's last week as they no longer take names over the phone. One AD said they kept warranty cards (nothing new) but would only give them out in a year to the original customer that had the watch with them. Kind of decent way to deter flippers. The other AD said I could not go on the list unless I had purchased 2 watches with them before and they don't operate a list the watches go to their best clients who buy the most (ie the flippers) I tried to get this point across but they did not seem to care.
I will just end up getting anther omega or perhaps a GO if I get my bonus in a few months,