Reply With QuoteYes Bucherer has some listings already at astronomical prices
Sent from my iPhone using TZ-UK mobile app
Yes Bucherer has some listings already at astronomical prices
Sent from my iPhone using TZ-UK mobile app
So Rolex will sell their watches pre-owned for more than a new one?
Erm…
Actually haven’t listened to the piece but have to assume so. Otherwise how would they get hold of them.
Sent from my iPhone using Tapatalk Pro
I wonder if they will undercut the existing market to begin with to drive out the greys
Sent from my iPhone using TZ-UK mobile app
No, they have pitched the prices at such a high level that they will support prices elsewhere. How many third party dealers' clients look at Watchfinder as their yardstick and might now also look at Rolex Certified watches? They then look at the beautiful watch with box and papers in front of them, the price point several thousand pounds lower, and gleefully snatch the apparent bargain.Originally Posted by Pan16520
This news will strengthen pre-owned prices and is no threat in itself to the third party secondhand market.
The best and fairest way to sell anything is to conform to market prices. RRP serves no purpose at all and we have always had the ludicrous situation of Greys either undercutting the ADs or selling above RRP in order to allow customers to jump the queues.
The Greys know the market and exploit it superbly.
The easiest way to sell a Rolex is for the AD to let the market decide and price accordingly. In other words, they should price like the Greys do. Rolex can vary production in order to prevent discounting and the AD will be rewarded for being an AD so to speak.
Why it has never happened is beyond me.
My thoughts too
This will prop up the prices and I also can't see a flood of availability if they have preowned models to sell.
The always amusing horological_dicktionary on Instagram has come up with an interesting take on Rolex's strategy, and where it has been done before.
I think the Certified warranty card will go a long way to adding to the value proposition via Bucherer etc. Knowing that Rolex have certified it as authentic will add value.
Is that really right?
I already know my watches are authentic, and they have all subsequently been serviced by RSC.
I suspect that the real market price will remain the price, and that the (mad) premium for original papers will continue.
It will be interesting to see how those watches without original paper but certified, will be priced on the secondary market.
D
Sent from my iPhone using Tapatalk
I was in Selfridges today, Bucherer right outside the Rolex shop had all the watches the Rolex shop didn’t, all at eye watering prices, I was talking to one of the Rolex sales guys he said it’s embarrassing,
You might get tourists in London paying the Bucherer prices as it's available there and then but can't see the model doing well outside of there if it's 2-3K more expensive than grey with rolex service plus papers
I think the scheme is aimed at the punters where price is not of high importance. Whether rightly or wrongly they will want the warm, fuzzy feeling of knowing it has been authorised by Rolex.
They may rather pay 10-20% more than another second hand dealer, just because it has the certification.
Sent from my iPhone using TZ-UK mobile app
Clearly a way of saying to another new watch/Rolex enthusiasts, before you buy new you will need to purchase a used one from us first to show your commitment in our brand. Some premium car franchises do this very well.
This will put them higher on their WL
Sent from my iPhone using Tapatalk
Last edited by Kippax; 3rd December 2022 at 08:38.
It was alluded to on the other thread but it seems logical now for ADs to only sell new watches to those customers who are prepared to part exchange their current Rolex.
There may come a time where certain customers change their watches on a three yearly basis and completely close the market to new buyers.
My impression is thus:-
AD buys or takes in trade Rolex from customer or other avenue.
The certification is a service provided by Rolex the manufacturer, at their service centres. The AD pays for this service, which will likely have stipulations (see below)
The AD then sets the (frankly ludicrous) price that they wish to achieve.
From Rolex point of view, this regulates and standardises AD’s selling used Rolex, keeping their “reputation” intact as I’d guess that when they are in for certification, Rolex will insist on a certain level of preparation (as manufacturer’s of cars do with an “Approved Used” scheme, so in theory, all watches are prepared to the same standards….
Crowns, crystals and bezel inserts make a hefty profit for Rolex, I’m sure and if they recommend these on a percentage of the watches that go in for certification then that nets them a fortune…..
Maybe AD’s will even discount these pre-owned watches?
Rolex themselves are no worse off, as people who are happy to wait on lists will still wait….
There was thread a short while back about land rover making customers sign an agreement giving them first refusal if selling within a time period. Especially the defender. Could this happen with Rolex now?
Sent from my iPhone using Tapatalk
What capability to identify correct Rolex watches is to be found at most main agents?
Swapped movements, Franken-watches, fake parts, renumbered cases…..these may all be picked up when a watch goes back to HQ but it’s too late then and where does the buck stop?
Don’t think main agents are sure this is a great move.
https://www.bucherer.com/uk/en/sell-or-trade.html
Seems with Bucherer it gets evaluated by a watchmaker first before an offer is made.
If they start to hoover up used models, then service them and stick another x% on top, when genuine buyers are waiting years for the same model, it's definitely going to cause animosity in some.
I feel they have arrived a little late to the scene though.
Also if you traded with them, would be interesting how they view that for future new purchases or whether it's all smoke and mirrors and they don't really care what you do with the watches
There aren’t many watchmakers I know who would spot fake bracelet parts or renumbered cases. They largely have “movement blinkers” on and little experience of looking at the other aspects. Many a genuine movement in a very bad watch.
Wonder if they will be checking the ALR stolen register ?
I can't see them hoovering up used models - unless they can also sell them easily. Everyone here seems to think they will be priced out of that.
I guess their offerings will be close to the top of the tree for assurance - and for some, that might be attractive.
All very well buying a watch on here from a longstanding member who has recently sent the watch to RSC for a service, but for most of the populace - that isn't possible. Conversely a lot of the populace don't see the risk in buying off ebay/facebook/gumtree - so will see simple overpricing.
To be fair, the advantage of the new system will not act as a replacement for the good non Rolex watch shops (like yourself), but let's face it - how many decent ones are there?
Since the hype started we have a gazillion people selling Rolex and other watches with huge mark ups and no skills whatsoever, so even if one slips through the quality control net, you have bought from an approved dealer and potentially have recourse if discovered later. Unlike when buying from Brad on Instagram.
I think its really good idea, buying a used watch you know has been serviced and is 100% genuine
plus comes with a 2 year warranty
Better than finding out years later its a high end fake
Let me get this straight....
I go to my local BMW, (insert manufacturer of choice), dealer and look at second hand approved vehicles with warranty and see they are priced lower than they are new. Sounds good to me.
I go to the Apple Store and look at approved Reconditioned MAC Book's with the same warranty as new and they're priced lower than they are new. Sounds good to me.
I go to a Rolex AD and look at approved reconditioned watches with the same warranty as new and they're priced significantly higher than they are new. Sounds daft to me. But it seems some people think it's a good idea?
Yep, PT Barnum wasn't wrong!
Best Regards - Peter
I'd hate to be with you when you're on your own.
Porsche do the same. They have a GT4RS rrp 150ish for 220
Of all the possible examples, you fell on the first one. BMW used cars are often expensive than new deals (go to any dealer page and you'll find examples) - even larger and more consistent used premiums for some other manufacturers (e.g. Porsche). Appreciating vs depreciating assets.
Not a great analogy as happens all the time with cars at the moment
Thank you, I'd not heard of them and the posts are brilliant! 😄The always amusing horological_dicktionary on Instagram has come up with an interesting take on Rolex's strategy, and where it has been done before.
An ex demo or used M3 Touring in a dealership will be higher priced than list, as there’s an 18 month waiting list assuming BMW’s “due diligence” checks allow you on the list, and it’s not price protected either.
Why not 'demo' them all and sell accordingly?
Don't think BMW,Porsche,Audi etc would allow showrooms to do that
Sorry if im missing the point here......
Is this the suggested process flow?:-
1. AD sells Rolex watch to punter on a so-called Waiting list.
2. Some time later, Punter trades in watch, buys another one (Rolex or not??)
3. AD Then supposedly checks watch, sends it to Service if required (If less than 5 years and in warranty why would they), puts S/H watch at market price.
4. Another punter comes in, jumps new AD WL for S/H watch and is happy.
5. AD bags another premium on selling said S/H watch (just like the Greys but with a new card and tag - with the irony of withholding the old green card and tag for 12 months on the new watch)
or is it likely to be this?:-
1. AD sells Rolex watch to his own Sales Assistant.
2. Some time later, SA "trades" in watch, buys another new one from AD
3. AD knows the watch never left his safe so no need for service (or at best, history suggests cursory check at Service Centre, then puts S/H watch at market price.
4. A punter comes in, jumps new AD WL for S/H watch and is happy.
5. AD bags another premium on practically a new unworn watch
6. ADs new Rolex stock gets cleared as soon as and his S/H Rolex section is bursting with premium-price choice of model.
It sounds like a way for ADs to charge Market Price on everything rather than what Rolex insists on right now?
i.e. why sell a new watch to a Punter when you can bag an extra 20-100% on reselling as available S/H model
Last edited by Guycord; 3rd December 2022 at 13:21.
One of the motoring guys I know had an offer of a new GT3RS that had unexpectedly become available due to the person on the allocation list giving backward - he declined as it was offered at £90k above list, by the Porsche dealer.
When you look long into an abyss, the abyss looks long into you.........
Yeh
Definitely happens but I'd think Porsche would have something to say if every GT4 was put on as a demo.
They would be able to justify a cancelled order or the like but couldn't do it as standard practice.
The days of overs for a lot of these cars is coming to an end as we get deeper into this mess though.
90K above list probably not too bad lol.
CPO could have been great, but not at 30 to 50% above preowned market prices.
The intrinsic value of CPO is an overhaul at the RSC, nothing more, yet it's priced way above it. Bucherer asks 27k euros for a CPO Sub 116610LV, when the market values it between 20 and 22k euros. That's 5k to 7k more, just for the CPO, when a RSC overhaul will only cost you 800 euros for a Sub. What a rip-off.
CPO = cheeky payment obligation
Contradiction of your agreement with the manufacturer of course.
I know people at Porsche and according to them this sounds a tall story or more likely economical with the process, as they will already have orders without allocation who they have to offer it to first. Once that list is extinguished without a client taking it (unlikely) they have to register it or put it on “free release” for other Porsche dealers to offer.
The more likely scenario is that they register it to the MD or other lofty individual, and park it for 3 months the your pal will be able to collect it as a bona-fide used/ex demo (that hasn’t turned a wheel) at £90k over list.
I do think it will have no effect whatsoever apart from pacifying the AD’s who have been moaning for years about not being able to resell used Rolex. This is purely a support for the AD’s who have been loyal to the brand and allows them to gain an extra revenue stream in the beginning of the downturn.
Sent from my iPhone using TZ-UK mobile app
Utter bollock$.
AD's have always been able to resell used Rolex.
When you look long into an abyss, the abyss looks long into you.........
Apologies I meant at above retail prices
Sent from my iPhone using TZ-UK mobile app
Rolex want a big slice of the money-laundering pie
I guess 'the point' being, this scheme is for 3 year old + watches, so the system cant be gamed for brand new ones.
Cheers..
Jase
As long as there are people buying in to the hype and desperate enough they'll get away with it.
Got a new watch, divers watch it is, had to drown the bastard to get it!
ADs already routinely sell used Rolex watches at above RRP. Think about it. How could they sell them belowRRP; there would be people camping overnight to buy them. Not all ADs have a big used Rolex business but many do, including several branches of WOS, and they all ask above RRP.
The only thing that changes with this announcement (which is mostly noise) is that, if the AD hangs a cream tag on the watches they will be allowed to merchandise them in the Rolex display cabinets. That’s the only change.
This is correct some AD’s buy and sell preowned as I have done it recently. They will also prioritise you on the list against a new model if you want to do a px.
Interesting thanks for the the clarification
Sent from my iPad using TZ-UK mobile app
Do you feel this might help residual values as in effect this might hoover up the surplus supply in the market keeping demand tight
Sent from my iPad using TZ-UK mobile app
Posting Permissions
