Financial Times Article

[banzrs311]

https://www.ft.com/content/a7cbc3b7-...4-51cedd5e9a29

Interesting read this AM


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[Soultime]

Yep.... I saw that too.

[Charlie Tango]

Very interesting read, thanks for sharing


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[Watchesnguitars]

Does somebody mind to copy and paste here? Not a subscriber

[samson66]

No bueno here. pay wall blocked

[Mr. K]

Originally Posted by Watchesnguitars

Does somebody mind to copy and paste here? Not a subscriber

Try to view it in a private browsing window or incognito. This worked for me.

[rambo99]

required payment to read article. great!

[zoenatenich]

Tried incognito, but it will not display.

[Mr. K]

Originally Posted by zoenatenich

Tried incognito, but it will not display.

I used incognito. Searched by the article title (not the link) Threw up a cookie banner that blocked 25% of the screen but I could still read the article with pictures.

[Al1969]

Copy and paste it OP.

[Kirk Lazarus]

Wow, what a read.

[amh]

Post a 1-line summary

[Calatrava r]

Originally Posted by inadeje

For those who can’t read it from the link there isn’t much ingenuity required.

Submit “rolex financial times” as a google search and that article (being the newest) comes up. Click and they allow one free read. Well for me that’s what happened.

So, what is your take on it?

[gbernardi]

Paywall removed:

https://12ft.io/proxy?q=https%3A%2F%...4-51cedd5e9a29

[inadeje]

Originally Posted by Calatrava r

So, what is your take on it?

Well, I mean, unless people have been living on a deserted island for the past 3 years stories of this nature are frequent and detailed. So, nothing new to this reader. Another lawsuit of this nature was ongoing (I lost track of it though) during the same timeframe in which a hotshot Porsche salesperson here in Miami was selling unobtainable Porsche (GT2R, GT3, etc) to his offshore shell company and then reselling the cars at 100% premium to buyers. Since the guy worked at said Porsche dealer he used his position to order the cars a-la-carte with all the options the buyer sought. These things transpire when retail items are worth more than their retail price and nothing will stop it. Ever. Whether it be a limited series Berkin Handbag, Luxury Watch or Limited run Ferrari, there’ll always be hands in the cookie jar.

[amh]

Cliff notes:
- Guy wants to buy an OP for his wife
- ADs have nothing in stock! (Has anyone heard about this? )
- Then there's an unrelated story of some backdoor sales...
- Guy buys a used Airking with no B & P
- Watch is broken when wife opens the package!
- Watch gets fixed, wife likes it anyway

[Jack T]

For those copying and pasting the article, consider this is proprietary content of the FT, despite the loopholes.

And FYI, there isn't anything in the article that you don't already know or could surmise.

[inadeje]

Originally Posted by Jack T

For those copying and pasting the article, consider this is proprietary content of the FT, despite the loopholes.

And FYI, there isn't anything in the article that you don't already know or could surmise.

I could be wrong but printing the article from their website and posting for others to read isn’t frowned upon. If I am wrong, mods pls remove the PDF

[drrd]

Originally Posted by amh

Cliff notes:
- Guy wants to buy an OP for his wife
- ADs have nothing in stock! (Has anyone heard about this? )
- Then there's an unrelated story of some backdoor sales...
- Guy buys a used Airking with no B & P
- Watch is broken when wife opens the package!
- Watch gets fixed, wife likes it anyway

Good concise summary

The article wasn’t a worthwhile read.

[ts3]

Originally Posted by drrd

Good concise summary

The article wasn’t a worthwhile read.

This.

[ArtNouveau]

That is the most information I have ever seen about the CD Peacock saga, a story that’s been floating around for several years. The alleged story helps explain that the collusion was just at one store, not corporate level. The belief that the current demand situation will sour Rolex sales in the future is a stretch, I’m noy buying that.

[inadeje]

Originally Posted by ArtNouveau

That is the most information I have ever seen about the CD Peacock saga, a story that’s been floating around for several years. The alleged story helps explain that the collusion was just at one store, not corporate level. The belief that the current demand situation will sour Rolex sales in the future is a stretch, I’m noy buying that.

I agree. The old adage “any press is good press” applies here. If anything, the skewed article misses the journalists mark if his intent was to dissuade. He merely stirred still further the pot of mystique surrounding the brand while likewise underlining the mass desirability of Rolex’s products.

Intentional or not on the journalist’s part, that’s what he achieved.

[alphadweller]

Cool article, but nothing new.

[RavenousHomer]

Originally Posted by ArtNouveau

That is the most information I have ever seen about the CD Peacock saga, a story that’s been floating around for several years. The alleged story helps explain that the collusion was just at one store, not corporate level. The belief that the current demand situation will sour Rolex sales in the future is a stretch, I’m noy buying that.

If you Google the case, you can actually get the actual court filings that further expand in detail about what happened in addition to more nuggets. It was available before, but haven’t checked since. Good stuff in there

[JRell]

Originally Posted by amh

Cliff notes:
- Guy wants to buy an OP for his wife
- ADs have nothing in stock! (Has anyone heard about this? )
- Then there's an unrelated story of some backdoor sales...
- Guy buys a used Airking with no B & P
- Watch is broken when wife opens the package!
- Watch gets fixed, wife likes it anyway

Lol love your posts. Thanks you saved me 1/2 hour, glad it worked out for the buyer!

[nGage7962]

Thanks for sharing that. I was an interesting read. Definitely not a surprise though.

I think that the problem is not just confined to dealers acting in this way, it is also one-off flippers too.

I will give you a very personal example. I recently bought a TT DJ31 for my wife from a Grey dealer locally after giving up on all of the local retailers.

The watch was 5 days old and bought from one of the local retailers who had a long wait list and said would contact me (like all the others) when one became available.

The grey dealer transaction was flawless with a check done in-person at an independent watchmaker for genuine status etc.

At the end of the transaction the grey dealer said to me that if we got called by any of the retailers, they would be happy to take either the one we just bought or the one on offer off of our hands for a little profit to us.

Now that is where the problem really lies in my opinion. I am not a flipper, but maybe I might be a one-time flipper in this instance if the opportunity presented.

How can a legit dealer, playing by the rule book cope with this?

[Tim Plains]

Interesting how blatant the SA was breaking the rules, some people just don't give a s***, and the part about writing celebrity names on the cards. I guess some people will pay a premium for that despite it not being true.

[CedCraig]

What I liked about the article were the details of the (alleged) scam. I hope the whistleblowers get something positive from doing the right thing.

In HK the AD scam is simply brazen. The AD sells to friends/family/associates and those watches immediately show up for sale at market prices at a wholly owned subsidiary of the AD.

Rolex must know about these scams, if they‘re clearly known to all and sundry, they know, too.

[Hulkhunter]

The article was clearly written by a newbie who had little to no knowledge of the Rolex/luxury market.

[NachoNeal]

I didn't find the article at all interesting.
Personally I preferred @amh 's summary.