Rolex AD in China.

[NICK77]

I've read several articles in magazines saying that China forms a large part of the luxury watches market. So, does Rolex cater to this demand? And if so, do most of the sports series Rolex were supplied to China which explains the low supply to other parts of the globe?
That brings to another question, should we travel to China, will it be easier to buy popular models there?

[JCZ5]

The luxury tax is incredibly high in China including what you would get back in taxes. That is why a lot of native Chinese would actually go to Hong Kong or the west to buy any luxury goods.

Although I have seen some popular SS pieces there, they require you to buy a gold piece to get the SS too. Also nowadays, the shortage has hit too as many wealthy people in the area do not car if it’s substantially higher. Especially in Shanghai and Beijing ADs


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[NICK77]

Luxury tax in China... something new I learn. Thanks!

[InitialAndPitch]

I heard it was 13% to 15%. Add 3% credit card fee payable to your card company (if your card is accepted - as ChinaPay is the dominant player) and the 2.5% the seller will likely charge in card fees - you’re looking at 20%+

[Old Geezer]

I was in Shanghai about 6 months ago. AD had a BLNR, SD43 and Sub date and no date. They were all for sale without bundling but the prices worked out to about 25% higher than USA. I'm sure the supply is not the same today but whatever they have won't be a deal unless you are considering grey market.

[broham84]

It is the biggest luxury market in the world period.

The daigou ship countless SS sports Rolex through the Chinese customs everyday. The biggest reason for the shortage. It is still considered an emerging market since the craze only started a few years ago.

[teck21]

Originally Posted by broham84

It is the biggest luxury market in the world period.



The daigou ship countless SS sports Rolex through the Chinese customs everyday. The biggest reason for the shortage. It is still considered an emerging market since the craze only started a few years ago.

Indeed, it’s not just the stuff that’s actually being sold in China.

One suspects most of the luxury stuff sold anywhere in the world ends up in China via this unofficial ‘import’ channel.


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[broham84]

Originally Posted by teck21

Indeed, it’s not just the stuff that’s actually being sold in China.

One suspects most of the luxury stuff sold anywhere in the world ends up in China via this unofficial ‘import’ channel.


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100% agree. 1.5 billion people with an insatiable thirst for social status in the form of luxury goods.

5 years ago not many knew what a hulk is, now the term “green water ghost” is synonymous with cool.

[GADNYC]

Lived in China from 2008-2015, almost every foreign brand was more expensive on the mainland. This included everyday items like shampoo, soap, coffee to lux products with crazy markups. Interestingly the only item I recall that was cheaper was Coke and Pepsi. FWIW

[Mike_1985]

I was in Shanghai last August and not a single AD (there were about 6 or 7 iirc) had any professional models. I did speak to a local guy in one of the AD's who paid 28k USD from an AD for his White face Daytona which is a substantial mark up. I told him it would have been cheaper for him to fly to the UK buy one on the grey market and pay import duty and he would still have had change left over (they were 18k USD in the UK at that time). A fool and his money...

[familyguy]

I have a relationship with a few of the boutiques in Beijing and there's some shady stuff going on for sure. Salespeople will advertise and sell the popular sports models directly on social media. I have about three employees of various boutiques added on social media, and they will periodically post pictures of the sports models they receive and sell them directly at market price. China has always done things their own way, so I'm not too sure how much Rolex SA understands or cares about what is happening.

A sample advertisement might read:
Green submariner arrived - the price is good. DM me.

For whatever reason, as broham84 stated above, the Hulk is wildly popular, and it's not rare to see flex posts on social media of collections with multiple.. just hulks..

[Vaxe]

I feel they’re always a bit behind in terms of trend. It’s almost like they follow the West. Folks here were flexing the LV 5 years ago, now it’s all 500, BLRO/CHNR and soon the 2019 BLNR.

Originally Posted by familyguy

I have a relationship with a few of the boutiques in Beijing and there's some shady stuff going on for sure. Salespeople will advertise and sell the popular sports models directly on social media. I have about three employees of various boutiques added on social media, and they will periodically post pictures of the sports models they receive and sell them directly at market price. China has always done things their own way, so I'm not too sure how much Rolex SA understands or cares about what is happening.

A sample advertisement might read:
Green submariner arrived - the price is good. DM me.

For whatever reason, as broham84 stated above, the Hulk is wildly popular, and it's not rare to see flex posts on social media of collections with multiple.. just hulks..

[RolexInMelbourne]

Originally Posted by Vaxe

I feel they’re always a bit behind in terms of trend. It’s almost like they follow the West. Folks here were flexing the LV 5 years ago, now it’s all 500, BLRO/CHNR and soon the 2019 BLNR.

With social media and the hype economy, China is not in any ways behind the “west”. In some way they are leading the whole trend and some how contributed massively to the current watch hype!


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[Soultime]

Originally Posted by Vaxe

I feel they’re always a bit behind in terms of trend. It’s almost like they follow the West. Folks here were flexing the LV 5 years ago, now it’s all 500, BLRO/CHNR and soon the 2019 BLNR.

I believe the colour green represents money and wealth in China.

So the Hulk popularity may be ongoing.

[Speedbird-1]

It'll be interesting to watch the Chinese used market, if the economy (ever) takes a dive.

[familyguy]

Originally Posted by Lt Virgil Hilts

It'll be interesting to watch the Chinese used market, if the economy (ever) takes a dive.

Chinese rolex owners likely aren't gonna sell even if there is a recession tomorrow.

At present, there's still a large gap between the wealthy and the poor in China. While it's blowing up really fast, the buying power of the "middle class" hasn't quite come into full swing. Only big cats in China rock Rollies, and a recession isn't going to have them pawning off a sub for a measley 10k. In the US, sellers are gonna be those middle class/upper middle enthusiasts who were able to save and buy in. We don't have those guys in China in numbers... yet.

There are a myriad of other factors, but that's the big one.

[Mik8yu]

Originally Posted by Lt Virgil Hilts

It'll be interesting to watch the Chinese used market, if the economy (ever) takes a dive.

This has gotta be one of the mystery. They don’t buy used.


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[RolexInMelbourne]

Originally Posted by Lt Virgil Hilts

It'll be interesting to watch the Chinese used market, if the economy (ever) takes a dive.

Unless that’s vintage or antique, Chinese generally don’t like used product, second hand apartment, used white goods, used watch etc.


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[VacherObsessive]

Originally Posted by Soultime

I believe the colour green represents money and wealth in China.

So the Hulk popularity may be ongoing.

Exactly, that’s why they wear and love Jade. Combine jade with the Hulk, clearly the hulk is the perfect watch for a Chinese person.

Add to that, the increase of women (in China, and in fact around the world) being more interested in the professional models, yet another consumer base.

In fact it was a beautiful Chinese girl a few years ago I saw in Harrods, London, wearing a hulk, that changed my mind about women wearing men’s sports watches. Her wrist was tiny, she has a little Hermes bag and was very slender and delicate looking, yet had this massive chunk of solid steel sports Rolex hanging off her little arm... I though damn the hulk is such a killer piece, and even on this little girl, it’s still a killer piece, in fact, it looks amazing on her somehow. A real punch in the eyeball seeing that hulk in the wild in that setting. My own wife now has a gmt and it’s killer on her.

[Mik8yu]

Originally Posted by VacherObsessive

Exactly, that’s why they wear and love Jade. Combine jade with the Hulk, clearly the hulk is the perfect watch for a Chinese person.

Add to that, the increase of women (in China, and in fact around the world) being more interested in the professional models, yet another consumer base.

In fact it was a beautiful Chinese girl a few years ago I saw in Harrods, London, wearing a hulk, that changed my mind about women wearing men’s sports watches. Her wrist was tiny, she has a little Hermes bag and was very slender and delicate looking, yet had this massive chunk of solid steel sports Rolex hanging off her little arm... I though damn the hulk is such a killer piece, and even on this little girl, it’s still a killer piece, in fact, it looks amazing on her somehow. A real punch in the eyeball seeing that hulk in the wild in that setting. My own wife now has a gmt and it’s killer on her.

They usually wear it with a few love bangle from Cartier and does not give a rats ass about scratching the case.

[Mik8yu]

Originally Posted by Soultime

I believe the colour green represents money and wealth in China.



So the Hulk popularity may be ongoing.

No it’s not. Truly wealthy ones would never look at Rolex


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[JePro]

Originally Posted by Soultime

I believe the colour green represents money and wealth in China.

So the Hulk popularity may be ongoing.

Could be

[WatchLurv]

Originally Posted by familyguy

I have a relationship with a few of the boutiques in Beijing and there's some shady stuff going on for sure. Salespeople will advertise and sell the popular sports models directly on social media. I have about three employees of various boutiques added on social media, and they will periodically post pictures of the sports models they receive and sell them directly at market price. China has always done things their own way, so I'm not too sure how much Rolex SA understands or cares about what is happening.

A sample advertisement might read:
Green submariner arrived - the price is good. DM me.

For whatever reason, as broham84 stated above, the Hulk is wildly popular, and it's not rare to see flex posts on social media of collections with multiple.. just hulks..

It's green that's why. They go bananas for green daytona and hulk. Wait till you see the Khaki 5168G from Patek getting released... The price of that will rocket into the next dimension.

Originally Posted by VacherObsessive

Exactly, that’s why they wear and love Jade. Combine jade with the Hulk, clearly the hulk is the perfect watch for a Chinese person.

Add to that, the increase of women (in China, and in fact around the world) being more interested in the professional models, yet another consumer base.

In fact it was a beautiful Chinese girl a few years ago I saw in Harrods, London, wearing a hulk, that changed my mind about women wearing men’s sports watches. Her wrist was tiny, she has a little Hermes bag and was very slender and delicate looking, yet had this massive chunk of solid steel sports Rolex hanging off her little arm... I though damn the hulk is such a killer piece, and even on this little girl, it’s still a killer piece, in fact, it looks amazing on her somehow. A real punch in the eyeball seeing that hulk in the wild in that setting. My own wife now has a gmt and it’s killer on her.

Surprised given the attention by street muggers that anyone still dares wearing a Rolex in public in London. Reading stories online just cements the fact that these scumbag thieves lurks in all high-end places.

[Fleetlord]

The situation in China seems murky.

It isn't even clear how good or bad the economy is because the "official" reporting is a bit suspect...

https://nationalinterest.org/feature...fter-all-46887

https://www.ft.com/content/961b4b32-...6-fe36ec32aece


No political connotations intended with the above links.

It's just that there is this narrative about China swallowing up all the Rolexes due to their steamroller economy, but is that even true?

Just as the economic reporting is murky, reports of buying behavior are as well. Some reports have the price of Rolex too high in China so Chinese are buying overseas...some say no that Chinese are gobbling up Rolex domestically like tic tacs....Which is it?

[familyguy]

Originally Posted by Fleetlord

The situation in China seems murky.

It isn't even clear how good or bad the economy is because the "official" reporting is a bit suspect...

https://nationalinterest.org/feature...fter-all-46887

https://www.ft.com/content/961b4b32-...6-fe36ec32aece


No political connotations intended with the above links.

It's just that there is this narrative about China swallowing up all the Rolexes due to their steamroller economy, but is that even true?

Just as the economic reporting is murky, reports of buying behavior are as well. Some reports have the price of Rolex too high in China so Chinese are buying overseas...some say no that Chinese are gobbling up Rolex domestically like tic tacs....Which is it?

The economy doesn’t have to be steamroller for there to be a Rolex shortage. There has been an explosion of wealth, and whether or not economic growth is slowing or not, those people are still rich to hell and back. Even if it’s a small % of their population, the population is so large that that tiny % is a huge number of people, enough to ensure display cases will never have a steel sports ever(at least in tier 1 and 2 cities. Not even sure tier 3 have boutiques at all). Yes the price in china is high, but it’s sure as heck lower than grey market prices, so the boutiques will be perennially empty.

In addition to and not instead of all of this, mainland Chinese are also flocking abroad to buy.

[rebel_1]

Originally Posted by familyguy

The economy doesn’t have to be steamroller for there to be a Rolex shortage. There has been an explosion of wealth, and whether or not economic growth is slowing or not, those people are still rich to hell and back. Even if it’s a small % of their population, the population is so large that that tiny % is a huge number of people, enough to ensure display cases will never have a steel sports ever(at least in tier 1 and 2 cities. Not even sure tier 3 have boutiques at all). Yes the price in china is high, but it’s sure as heck lower than grey market prices, so the boutiques will be perennially empty.

In addition to and not instead of all of this, mainland Chinese are also flocking abroad to buy.

Great quote about the percentages. 10% of China’s population is still more than most countries!

[tom2517]

Chinese are the biggest buyers of Swiss luxury watches, even the Swiss Watch federation said so, they buy domestically and abroad. In fact it’s the same for other luxury goods, LV, Hermes, and etc.

[ras47]

I would hazard a guess that China is a prime factor in the shortage of Rolex models in the west. Before China exploded as a major consumer of luxury goods Rolex could meet demand with their current production numbers. Now they have to expand production to meet this new demand and Rolex, like all prudent companies, doesn't just ramp up production overnight. Protecting the brand means ensuring quality remains high.

Omega boutiques now have signs all over saying "Union Pay Accepted." That's a major credit card company in China. It's like Visa or AMEX in the west. Omega knows where their bread is buttered. I assume Rolex knows this as well.