Rolex in Hong Kong amid COVID

[BillA]

Originally Posted by IamJacky

Having bought the watch on December 4th 2020 while the warranty card is dated November 28th 2020, and the dealer told me it's from a local AD can only mean that:

1. The grey dealer got it directly from the AD (via bundling)
2. The grey dealer got it from a flipper who bought at the AD

It doesn't really matter.

There are 6 ADs in Kuala Lumpur and I've visited all of them. In the same vicinity there are at least 15 grey dealers with bricks & mortar shops that I'm aware of (not to count those FB group/online presence). Most of these dealers carry some of the most popular SS models.

When chatting with the owner of these grey dealers, I get a sense that they must have some sort of relationship with the ADs, or that they have strong connection to those who do, they refer to them as "suppliers".

I always asked for the original receipt when I bought from these grey dealers because I wanted the complete set, and none of the grey dealers would give it to me, at first I didn't know why but now I get it - they do not want to reveal the person who flipped the watch to them.

This is just a single case and I'm not saying all ADs participate this behavior. But I am strongly convinced that some if not most of my local grey dealers either ARE the VIPs at the ADs, or they have connections to those who do.

My point is, for me, I just know that I will never be able to compete with these grey dealers or their sources, so getting a popular model like the BLRO at MSRP is basically impossible.

I am curious, why would you need the receipt if the warranty card is filled out properly, and I assume you do get it?

[Hub6152]

Originally Posted by BillA

Since you live in HK, what is your assessment of the market there?

It’s very simple - all retail is suffering due to the social distancing measures because of Covid. I work in the watch industry (selling accessories) and our sales are hugely down simply due to the drop in numbers of people out and about. The absence of tourism doesn’t affect my shop quite as much, but certainly the main watch dealers will be hit by that. And the exit of expats has also not helped, especially those working within the airline industry. Pilots were big spenders. It’s not politics that’s killing HK, it’s the pandemic like everywhere else.

[IamJacky]

Originally Posted by BillA

I am curious, why would you need the receipt if the warranty card is filled out properly, and I assume you do get it?

Yes I do have the warranty cards and they're filled out properly. Although one of them is unnamed, only the AD's name; while the latest version warranty card only has dates as we know it.

I wanted to get the original purchase receipt because I just wanted the feeling of having a "fullset", but was never provided by the grey dealers I bought the watches from, which I understand now because they most likely do not want to reveal the identity of the original purchaser.

[Fleetlord]

As much as I hate to write this and I fully understand it can trigger some ego crush on the forum...BUT..

AD in HK have no interest in selling SS Rolex to the general public.

It just isn't worth the hassle. The dollars involved are too low and the problems with keeping lists and all that nonsense. That's for the greys to deal with.

It’s a lot of effort to “sell” the low end piece. Talk to customer, process transaction, size the watch...worry about problems or returns. I know it sounds ridiculous, but the juice just isn’t worth the squeeze on those references, so they bundle them up in a nice tidy group and distribute them effortlessly to the resellers. Couldn’t be easier.

The AD in HK wants to sell higher ticket, PM and custom pieces with stones. They keep some SS watches for the big customers to be able to acquire to give as gifts to their housestaff and their families....but otherwise the whole SS product line seen as for the plebeians or one and done tourists.

As the OP described...if you aren't interested in buying PM reference, hit the bricks. They simply do not need the “nuisance” of walk in SS traffic....

[Ihatecheese]

Those are lucky housestaff. Most i heard of who were working for the very well paid lived under the stairs or in a annex with no windows. Or were routinely mistreated generally for the $650/month wage

[Peter123]

Flippers who buy direct from the ADs in HK have moved on line. Most of those stores on Nathan road don’t even have websites. Natural progression like Amazon has closed down many retail stores. The watches are still moving around just not in grey market windows anymore.