Buying 100K in jewelry to get a Rolex?

[bluestreak]

So I’ve been here a while and participated in a lot of threads. There are tons about the difficulty of buying a watch at MSRP.
But in every thread, someone inevitably throws out “you need $100,000K in jewelry you don’t want to qualify for [x] watch. Never 75K, never 80K, never 150K Orr 125K. Always 100K.

So has anyone here ever done this? Does anyone know someone who has spent six figures of stuff they truly don’t want to get a watch? Where does this specific number come from?

People are usually very rational with money. And this type of behavior seems very irrational. So I’m curious to see who’s actually doing this.

[zjd168]

don't know anyone did that, for me I don't even want to buy 1k in jewelry I don't want to get in the "waiting list"

[Calatrava r]

There are, of course, people who do like and spend significant money on fine jewelry by exclusive designers. Somebody is buying that stuff. Clearly, it seems not to be most members here cup of tea. In any event, big spenders on the other stuff get, as an added bonus of all that spending, first pick on the best watches from any brand the jewelry store carries.

[cdm765]

I never bought non-watch jewelry. I have found it easier to get more “desirable” watches as I have bought more at AD. For example, I have done JLC x 2 > OP 36 > DJ > BLRO. Again, I love all of these watches (or they’ve been gifts). Having a buying history and good AD relationship gives me access to more watches now, but that has never been a reason for buying…

[FlyinHawaiian]

Originally Posted by bluestreak

So I’ve been here a while and participated in a lot of threads. There are tons about the difficulty of buying a watch at MSRP.
But in every thread, someone inevitably throws out “you need $100,000K in jewelry you don’t want to qualify for [x] watch. Never 75K, never 80K, never 150K Orr 125K. Always 100K.

So has anyone here ever done this? Does anyone know someone who has spent six figures of stuff they truly don’t want to get a watch? Where does this specific number come from?

People are usually very rational with money. And this type of behavior seems very irrational. So I’m curious to see who’s actually doing this.

So, if you buy a PM piece does that count as jewelry? 2-for-1! However, maybe Jay-Z?

[Bigsoftee]

Only ever purchased what I want, only Rolex, and have been very fortunate to be buying from a 100+ year old local AD that respects old school values.

[doublevanose82]

My AD tried to tell me that I would have to buy $3k in jewelry to get on the waiting list for a Sub.

I then went to the local Ben Bridge and they told me 2 year waiting list, fine with me as long as I don't have to make any unwanted purchases.

[VerticalClutch]

This is the stuff posted by cynical people who are angry they don’t get allocations. I don’t know anyone who does this. What I do is wealthy people who spend a lot of money annually because they’re wealthy. They tend to spend a portion of that money on jewelry and other brands of watches. That amount obviously varies by person and by the year.

Those purchases make that individual a valued customer of the AD and they therefore get outstanding customer service. Part of that customer service is priority on hard to get pieces.

That’s all it is, but a cynic just blurts out that these people are buying things they don’t want to get a Daytona.

Take whatever hobby you spend a lot of money on annually: golf, boating, fishing, cars, gardening, grilling, skiing, snowmobiling, camping, etc. Now imagine the store that you primarily buy all the stuff associated with your hobby from also sold Rolex’s. You’d buy all that stuff anyways, you’d just have the added bonus of being a good customer and they’d get you a Daytona before some dude that only bought a Yeti from them once two years ago. That’s all it is

[HHIslander]

Some people (or their spouse) are as passionate about jewelry as they are about watches and like the ease of a local jeweler and don't want to deal with the hassle of going on online to find the best price. For them, 100k is no big deal. These are the probably most of the folks who spend the 100k. For them, the watch may even be secondary to the jewelry. I don't think a lot of folks here are involuntarily dropping 100k on jewelry to save 20k or so vs grey market.

[padi56]

Originally Posted by bluestreak

So I’ve been here a while and participated in a lot of threads. There are tons about the difficulty of buying a watch at MSRP.
But in every thread, someone inevitably throws out “you need $100,000K in jewelry you don’t want to qualify for [x] watch. Never 75K, never 80K, never 150K Orr 125K. Always 100K.

So has anyone here ever done this? Does anyone know someone who has spent six figures of stuff they truly don’t want to get a watch? Where does this specific number come from?

People are usually very rational with money. And this type of behavior seems very irrational. So I’m curious to see who’s actually doing this.

Anyone buying anything extra just to buy a Rolex watch must have more money than sense, or sixpence short of a shilling.

[Cr_Zeek]

Originally Posted by padi56

Anyone buying anything extra just to buy a Rolex watch must have more money than sense, or sixpence short of a shilling.

[BayAreaTech]

Originally Posted by padi56

Anyone buying anything extra just to buy a Rolex watch must have more money than sense, or sixpence short of a shilling.

This is absolute truth ^^. I have spent more than on Jewelery at my AD, though on my own choice alone, not to get a "hot watch". This was over a number of years of course. Also true that most pieces absolutely lose money in the short / long term (Outside hype watches, vast majority of Patek are -30-50% MSRP on the grey market for example after 5 years). Only a few models have enduring value. Therefore buy what you love. It is not an investment.

[train-time]

Originally Posted by bluestreak

So I’ve been here a while and participated in a lot of threads. There are tons about the difficulty of buying a watch at MSRP.
But in every thread, someone inevitably throws out “you need $100,000K in jewelry you don’t want to qualify for [x] watch. Never 75K, never 80K, never 150K Orr 125K. Always 100K.

So has anyone here ever done this? Does anyone know someone who has spent six figures of stuff they truly don’t want to get a watch? Where does this specific number come from?

People are usually very rational with money. And this type of behavior seems very irrational. So I’m curious to see who’s actually doing this.

Life on the internet.... isn't it wonderful?

There was one post where a guy was told by the manager at his AD that a customer spent $165K on jewelry and they allocated him a SS Daytona.

I actually relayed this story the manager of my local AD, a guy I have dealt with for 20 years so we speak comfortably about this type of happening and his reaction was that for them, $165K was a relatively small purchase of jewelry to warrant a SS Daytona at retail. I didn't follow up with asking what would qualify, partially because I am small potatoes to them and didn't want to end up in an embarrassing situation.

[brandrea]

Originally Posted by train-time

Life on the internet.... isn't it wonderful?

There was one post where a guy was told by the manager at his AD that a customer spent $165K on jewelry and they allocated him a SS Daytona.

I actually relayed this story the manager of my local AD, a guy I have dealt with for 20 years so we speak comfortably about this type of happening and his reaction was that for them, $165K was a relatively small purchase of jewelry to warrant a SS Daytona at retail. I didn't follow up with asking what would qualify, partially because I am small potatoes to them and didn't want to end up in an embarrassing situation.

I’m going to say this out loud, but I don’t believe your AD.

Sorry, but I just can’t imagine that there are that many people walking around with that kind of money to blow, just to get on a SS Daytona list.

Call me a cynic

[train-time]

Originally Posted by brandrea

I’m going to say this out loud, but I don’t believe your AD.

Sorry, but I just can’t imagine that there are that many people walking around with that kind of money to blow, just to get on a SS Daytona list.

Call me a cynic

I hear ya Brian and wish it wasn't true. Having been a loyal customer dropping $75 - $95K some years doesn't get me anywhere close to qualifying especially after that conversation with him. I had to think back a few years ago before the Pandemic when I got invited to a Rolex new product showing that they had catered. I squeezed my Subaru Forester in between a Bentley and a Ferrari in the parking lot that day and there dozens of other high end luxury cars filling their lot that evening, so I tend to believe him.

Not too long ago he did ask me if I had any interest in a SS Daytona so I said yes. About a week later he called saying a BNIB one had just come in. The deal required that I trade my one-year-old 126610LN and pay $20K in addition, so you can get one without spending a boatload on jewelry, but it isn't at MSRP.

[brandrea]

Originally Posted by train-time

I hear ya Brian and wish it wasn't true. Having been a loyal customer dropping $75 - $95K some years doesn't get me anywhere close to qualifying especially after that conversation with him. I had to think back a few years ago before the Pandemic when I got invited to a Rolex new product showing that they had catered. I squeezed my Subaru Forester in between a Bentley and a Ferrari in the parking lot that day and there dozens of other high end luxury cars filling their lot that evening, so I tend to believe him.

Not too long ago he did ask me if I had any interest in a SS Daytona so I said yes. About a week later he called saying a BNIB one had just come in. They deal required that I trade my one-year-old 126610LN and pay $20K in addition, so you can get one without spending a boatload on jewelry, but it isn't at MSRP.

That’s just nuts …

My Toyota Camry doesn’t belong in that parking lot either

[Devildog]

Originally Posted by brandrea

I’m going to say this out loud, but I don’t believe your AD.

Sorry, but I just can’t imagine that there are that many people walking around with that kind of money to blow, just to get on a SS Daytona list.

Call me a cynic

Yep. When you can buy an unworn SS Daytona for $35,000.

It makes no sense. You'll be losing twice the grey mark up on the Daytona buying $100k worth of jewellery you don't want.

If an AD said to me that I had to spend that kind of money to be allocated a hot SS sports Rolex I'd tell him to shove it and that I'd simply spend wayyyy less and buy from a reseller.

[SamArj]

Originally Posted by Devildog

Yep. When you can buy an unworn SS Daytona for $35,000.

It makes no sense. You'll be losing twice the grey mark up on the Daytona buying $100k worth of jewellery you don't want.

If an AD said to me that I had to spend that kind of money to be allocated a hot SS sports Rolex I'd tell him to shove it and that I'd simply spend wayyyy less and buy from a reseller.

I don't know anyone personally who has dropped that kind of money. However those that do aren't stupid. They aren't just after a single SS Daytona. They are probably the people who get the meterorite dials, gem set etc models like Rainbows, Eye of the Tiger type models.
These models will see you get your $100k back and some.

[Devildog]

Originally Posted by SamArj

I don't know anyone personally who has dropped that kind of money. However those that do aren't stupid. They aren't just after a single SS Daytona. They are probably the people who get the meterorite dials, gem set etc models like Rainbows, Eye of the Tiger type models.
These models will see you get your $100k back and some.

Agreed mate.

But its entirely understandable why an AD would leverage the current demand to increase turnover and profit across their business. It used to be called incentivisation.

There seems to be an overriding sense of entitlement amongst many consumers these days that goes beyond mere frustration.

A retailer can impose whatever conditions they see fit. If we, the consumers, have those conditions imposed and don't like them, we are free to walk away, straight into the reseller market where there are no conditions, no games, just a higher price. If that's affordable, great. If not, chose a different brand

[febie111]

I was told by my AD a $100K spend just to get on the list for a Daytona..That is why Rolex needs to get rid of their AD network. It really soured me off of the brand.

[VerticalClutch]

Originally Posted by febie111

I was told by my AD a $100K spend just to get on the list for a Daytona..That is why Rolex needs to get rid of their AD network. It really soured me off of the brand.

I genuinely don't understand this. Why are you mad at Rolex? Or the AD?

All the AD is telling you is that the best handful of customers the store has spends $100k with the store. That's the group who will get the few Daytonas the store gets from Rolex. Why would anyone expect to get a Daytona before those guys do?

it's not some machine where you put in $110k and get a Daytona out. It's just a rough idea of what it takes to get among the best clients the store has. It's not a quid pro quo. It's just the reality that the best customers get probity....just like at any business.

[huncho]

Originally Posted by febie111

I was told by my AD a $100K spend just to get on the list for a Daytona..That is why Rolex needs to get rid of their AD network. It really soured me off of the brand.

AP is boutique only and you have the same result, it's got nothing to do with ADs. only benefit from boutique only is you wouldn't be forced to buy jewelry but other watches instead

[malba2366]

Originally Posted by huncho

AP is boutique only and you have the same result, it's got nothing to do with ADs. only benefit from boutique only is you wouldn't be forced to buy jewelry but other watches instead

It is only the same at AP for a Blue face RO, Jumbo or certain high complication pieces. Most of the other watches will be allocated to you, without additional purchases, if you are willing to wait your turn. At most Rolex ADs you basically can not get any SS professional watch without the suggestion that you purchase some Jewelry that you probably don't want/could get for less elsewhere.

[DG123]

Originally Posted by febie111

I was told by my AD a $100K spend just to get on the list for a Daytona..That is why Rolex needs to get rid of their AD network. It really soured me off of the brand.

Why not buy a Rolex model that the AD is willing to sell you without any additional purchase required ?

[febie111]

Originally Posted by DG123

Why not buy a Rolex model that the AD is willing to sell you without any additional purchase required ?

I did, a datejust 2 before they were discontinued and a YM40,a few 2 tone DJ but that was back in the 90's..But they do not count towards the $100K spend because they are Rolex. And that $100K was just to get on the list for a Daytona,not a promise of me actually getting one.

My experience really reminded me of this YT video I watched the other day . https://www.youtube.com/watch?v=ERlLqBJ4a8w

[jujak]

Originally Posted by febie111

I did, a datejust 2 before they were discontinued and a YM40,a few 2 tone DJ but that was back in the 90's..But they do not count towards the $100K spend because they are Rolex. And that $100K was just to get on the list for a Daytona,not a promise of me actually getting one.

My experience really reminded me of this YT video I watched the other day . https://www.youtube.com/watch?v=ERlLqBJ4a8w

Thats insane if the rolex watches you bought are not counted towards the spend at your AD??

[Calatrava r]

Originally Posted by jujak

Thats insane if the rolex watches you bought are not counted towards the spend at your AD??

They don't count as the AD can sell Rolex watches to anyone as soon as they come in. It is the inventory that just sits in the case on a floorplan that they want to sell to you. The stuff with the huge markup. Buy that stuff and you earn the store's respect, attention and Rolex watch allocations.

[Guppydriver]

$0.00 jewelery bought.

11 month wait for 126710BLNR.

Really great AD with great SA's who are engaged and listen.

[Iyellalot]

Originally Posted by Guppydriver

$0.00 jewelery bought.

11 month wait for 126710BLNR.

Really great AD with great SA's who are engaged and listen.

Same here. $0.00
126720VTNR Two month wait.
There are ADs out there that are very nice with superb customer service.
You just have to find them. Big cities are much harder since they get so many requests.
Drive to smaller cities and visit those ADs.

[aftereffector]

Anecdotes like train-time’s always make me appreciate that it’s all relative. For me, dropping $10k on jewelry would be a very big deal, maybe to celebrate a keynote anniversary - not every year and certainly not on a whim. Someone else out there might drop $100k the same way I spend $15 on a Kindle book without even thinking about it. My local AD probably has a few of those folks, and maybe even bigger whales that make the $100k spenders look like wading pool minnows. It’s a big world out there and I’m happy to be where I’m at instead of where I’ve been.

That said, I still do want just one or two more watches :)