Daytona via jewelry spend ($30k)

[cornsyrup_bezel]

OP let use know how it goes/lessons learned

[Vince_76]

Originally Posted by cornsyrup_bezel

OP let use know how it goes/lessons learned

Will do. This will likely bleed into early 2024, but will keep you guys abreast.

[descartes]

Originally Posted by lawyerdude

This seems to be a path people recommend. Theo and Harris guys told all guys buying engagement rings to use it as the once in a lifetime opportunity to get the watch they want. It’s in the crush the AD’s video. Although, I think they oversell how easy it is to get the non popular watches.

Good luck with this. If I were the wife I would prefer that the Daytona money went towards a bigger and better stone.

[descartes]

Originally Posted by Vince_76

That was my other question. I’d only even consider it if:

Jewelery at AD + MSRP Daytona < similar jewelery elsewhere + Daytona market value

This might not even work in that regard

It’s always going to be more at a retail jeweler. Much more.
I bought my wife a pretty significant neckless for a milestone anniversary. I worked with a jeweler to pick the stones. It’s stunning. Same quality, carat weight neckless at our local AD is 5 times the price but they’ll give you a deal and do it for only 4X of what I paid. LOL.

You can’t win the AD game by buying Jewelery, especially if you’re talking a five figure purchase.

[piratfisk]

Originally Posted by padi56

Sorry but anyone willing to spend $30 on jewelry just to get a Daytona must have more money than sense, this is whats wrong with this hobby today.If everyone stopped playing these AD games them perhaps we could get back to normality.

Hear hear!

Should I ever find myself in the same boat as the OP, legitimately considering spending $30k on jewelry I/spouse don't really want... I'd ask for what you want a few times... maybe monthly for 2 quarters. If still nothing & you still want an SS Daytona, just get it from a grey seller & be done with it.

[Bartolo]

Originally Posted by worldofoyster

30k gets you a datejust or explorer1, not even enough to get you a sub at the spot.

These posts are silly. Every AD does it differently.

I had 0 history with mine and got a SS DJ about 6 months ago.

[Vince_76]

Originally Posted by descartes

It’s always going to be more at a retail jeweler. Much more.
I bought my wife a pretty significant neckless for a milestone anniversary. I worked with a jeweler to pick the stones. It’s stunning. Same quality, carat weight neckless at our local AD is 5 times the price but they’ll give you a deal and do it for only 4X of what I paid. LOL.

You can’t win the AD game by buying Jewelery, especially if you’re talking a five figure purchase.

Yeah, this could be the case. I need to price out the jewelry like for like.

Originally Posted by Bartolo

These posts are silly. Every AD does it differently.

I had 0 history with mine and got a SS DJ about 6 months ago.

Agree.

[Laostuh]

Originally Posted by Bartolo

These posts are silly. Every AD does it differently.

I had 0 history with mine and got a SS DJ about 6 months ago.

Datejusts seem to be the gateway. 0 purchase history asked for a SubLV. Have been offered nothing but Datejusts in diffrent configurations.

[bliss]

I guess i was fortunate based on some of these answers, you have no shot with a tier 3. A good tier two could of got you one in a couple years..... until the new reference came out. Thing is there are just so many people who spent that kind of money with Ads, and the new references coming kinda starts the list over for VIPs they gotta get theres first before we can eat LOL

[Basic_Satisfaction]

Vince, I'd just buy that same jewelry from a reputable dealer in DTLA. You'll probably save like 10-15k on that lol. Take that and just buy a daytona from the gray market. The jewelry savings will help cover the cost. Retail on a daytona is 15k+10% tax in CA. Grey prices are in the 30s

[worldofoyster]

Originally Posted by Bartolo

These posts are silly. Every AD does it differently.

I had 0 history with mine and got a SS DJ about 6 months ago.

How long did you wait for the unpopular dj?

[4reRlxGuy]

Dropped by one of my ADs this weekend. He mentioned two tone datejusts (except the Wimbledon) are readily available in Socal.

[Vince_76]

Originally Posted by Basic_Satisfaction

Vince, I'd just buy that same jewelry from a reputable dealer in DTLA. You'll probably save like 10-15k on that lol. Take that and just buy a daytona from the gray market. The jewelry savings will help cover the cost. Retail on a daytona is 15k+10% tax in CA. Grey prices are in the 30s

I’m not that familiar with Jewelery. There’s about a 100% markup at ADs vs. other jewelers? Guess I just need to price it out

[amh]

Originally Posted by descartes

It’s always going to be more at a retail jeweler. Much more.
I bought my wife a pretty significant neckless for a milestone anniversary. I worked with a jeweler to pick the stones. It’s stunning. Same quality, carat weight neckless at our local AD is 5 times the price but they’ll give you a deal and do it for only 4X of what I paid. LOL.

You can’t win the AD game by buying Jewelery, especially if you’re talking a five figure purchase.

This is what I was trying to say. But no people don't believe and continue with "ADs only charge market price for jewelry." Jewelry has a huge, huge profit margin at MSRP. A Rolex AD will certainly charge MSRP. If they give you a 15% discount just to set the hook you can bet they're still making 300% over what they paid.

[BraveBold]

Originally Posted by Vince_76

I’m not that familiar with Jewelery. There’s about a 100% markup at ADs vs. other jewelers? Guess I just need to price it out

Given there is a wide range of ADs, with a wide range of business models - no standard markup vs “market” retail price.

One AD maybe might be 2x other retailers. Another could be 0.75x and priced aggressively.

Throw wholesalers into the mix and it’s a whole different ballgame. Of course you need to vet the jeweler and their reputation (and supply) closely. Lots of shady behavior in that market. In many cases you get a better deal but in other cases you can get ripped off.

The general tradeoff is simple - big retailers have big $ invested in their image (location, building, marketing, staff). They also can do decent volume if they are primarily jewelers. If enough volume, their big $ investments are not as onerous and they can be more aggressive with pricing. That big $ investment in branding (and retaining AD status) can reduce your risk as a buyer - they have a brand to protect.

A jeweler that is getting stones closer to wholesale - well that runs the gamut. You can definitely do better here but with greater range of outcomes. The middle ground are the online retailers.

But if we are talking apples-to-apples (retailer vs retailer) someone cannot know if ADs are pricing above, at, or below market.

If comparing wholesale vs retail then it is a different comparison entirely. How much you save (and what quality of product you get) is going to vary.

[BaronArtz]

In NYC, not even in the ball park.

Sure, it is worth a shot but your sales associate will probably laugh at you - hopefully behind your back.

And don't buy things you don't want. Clients who do that end up selling, which feeds into the grey market.

[gamingdoctor]

Time is money, so save both and a headache by going grey. Customer service is loads better, too.

[piratfisk]

Originally Posted by gamingdoctor

Time is money, so save both and a headache by going grey. Customer service is loads better, too.

Yes! Very well said.

[Halifax Daytona UK]

Why would anyone in their right mind spend that much on jewellery which is vastly overpriced , 30k on jewellery, who’s real value is 10k , loss of 20k
Better off going grey

[JC316]

Originally Posted by Halifax Daytona UK

Why would anyone in their right mind spend that much on jewellery which is vastly overpriced , 30k on jewellery, who’s real value is 10k , loss of 20k
Better off going grey

Well.... there are some of us who find paying anything over retail just as ludicrous. In fact, most people would cringe at the thought of purchasing a watch over $1,000. How sane are any of us really?

OP did mention that he was purchasing jewelery for his wife for a special occasion. So that's the reason he would spend that much money on vastly overpriced jewelry.

The Daytona is a why not, if possible.

[Vince_76]

Originally Posted by JC316

OP did mention that he was purchasing jewelery for his wife for a special occasion. So that's the reason he would spend that much money on vastly overpriced jewelry.

The Daytona is a why not, if possible.

This. Astounded at the remedial reading comprehension of some of the folks on here. I’ve mentioned exactly what you said numerous times in this thread.

Thanks to all who actually took time to read this thread and intelligently respond

[classicalthunder]

here's what I would do (or what I wish I would have done initially)

1. Go in wearing your nicest watch, talk to the jeweler person, tell them about event and what you're thinking. State budget at 1/2 or 2/3rds of what it really is...See what they can do and what they have to offer...take your time and allow your self to be pretty easily upsold to the full budget of your jewelry. Don't mention anything about watches, have them write up the proposal/quote, say you need to think about it a bit/make sure she'll like it or something along those lines. Ask when they work so you can be sure to follow up with them.

2. Go back in at some point a week or so later (on a day they are working), make up some BS about having to be in the area and that some of the watches caught your eye and that you're thinking of treating yourself at the same time (a 'his and hers' type scenario). Play dumb, but ask to see some Rolexes from the easy (Sub), medium (GMT), and hard (Daytona) to obtain lines. Say you like the Daytona and inquire about it and see what they say about availability or if they push you to a Sub or Date Just. That should give you an idea if a bundled purchase is on the table, but dont specifically use the word 'bundled' just say can you pick up both at the same time.

At this point, you should be able to play ball or be a little more forthright. You can always tell them there is one more jeweler you want to check out and will need to get back to them on the jewelry purchase and see if they give you a ring with a follow up offer.

This does a couple of things things:
- The SA 'anchors' the potential jewelry sale in their head as a potential gain, they bank on it for their monthly quota and probably report it to their manager.
- It hides the fact that you're super interested in the Daytona primarily, so they don't peg you outright as someone trying to play 'the game'
- It gives the SA a path to convince their manager to allot you one of the Daytonas
- It gives them the opportunity to 'steal' you as a client from other jewelers/ADs

Unfortunately, I went in like a dumbass just asking for a Sub and being too honest, and am still on the elusive 'waitlist'

[Vince_76]

Originally Posted by classicalthunder

here's what I would do (or what I wish I would have done initially)

1. Go in wearing your nicest watch, talk to the jeweler person, tell them about event and what you're thinking. State budget at 1/2 or 2/3rds of what it really is...See what they can do and what they have to offer...take your time and allow your self to be pretty easily upsold to the full budget of your jewelry. Don't mention anything about watches, have them write up the proposal/quote, say you need to think about it a bit/make sure she'll like it or something along those lines. Ask when they work so you can be sure to follow up with them.

2. Go back in at some point a week or so later (on a day they are working), make up some BS about having to be in the area and that some of the watches caught your eye and that you're thinking of treating yourself at the same time (a 'his and hers' type scenario). Play dumb, but ask to see some Rolexes from the easy (Sub), medium (GMT), and hard (Daytona) to obtain lines. Say you like the Daytona and inquire about it and see what they say about availability or if they push you to a Sub or Date Just. That should give you an idea if a bundled purchase is on the table, but dont specifically use the word 'bundled' just say can you pick up both at the same time.

At this point, you should be able to play ball or be a little more forthright. You can always tell them there is one more jeweler you want to check out and will need to get back to them on the jewelry purchase and see if they give you a ring with a follow up offer.

This does a couple of things things:
- The SA 'anchors' the potential jewelry sale in their head as a potential gain, they bank on it for their monthly quota and probably report it to their manager.
- It hides the fact that you're super interested in the Daytona primarily, so they don't peg you outright as someone trying to play 'the game'
- It gives the SA a path to convince their manager to allot you one of the Daytonas
- It gives them the opportunity to 'steal' you as a client from other jewelers/ADs

Unfortunately, I went in like a dumbass just asking for a Sub and being too honest, and am still on the elusive 'waitlist'

Thanks for the thoughtful response classicalthunder. Spent 3 years in Philly and loved it - near and dear to me.

I like this strategy, will let you know how it goes. Only question would be stating budget of 1/2 or 2/3? I feel like since I’m spending only about $30k, $15k or $20k won’t be much to get the convo going.

[classicalthunder]

Originally Posted by Vince_76

Thanks for the thoughtful response classicalthunder. Spent 3 years in Philly and loved it - near and dear to me.

I like this strategy, will let you know how it goes. Only question would be stating budget of 1/2 or 2/3? I feel like since I’m spending only about $30k, $15k or $20k won’t be much to get the convo going.

No prob! The thought is - that by starting at $15-20K and letting them talk you up to $30K pretty easy give them the impression that they can upsell you, which means:


a)if they can do it now, they might be able to later too, so you might be a more 'valuable' client with a higher potential upside for the business and thus more likely to be woo-ed an allocation

b) it shows your not a price sensitive shopper, SAs don't want someone whose gonna try and nickel dime them to death so you'll become more of a priority cause you're 'easier' to work with

Overall, I think $30K in jewelry is still probably well shy of a Daytona allotment unless you're in a non-competitive market. But it should hopefully turn up a green sub or a batman or something....

[Vince_76]

Originally Posted by classicalthunder

No prob! The thought is - that by starting at $15-20K and letting them talk you up to $30K pretty easy give them the impression that they can upsell you, which means:


a)if they can do it now, they might be able to later too, so you might be a more 'valuable' client with a higher potential upside for the business and thus more likely to be woo-ed an allocation

b) it shows your not a price sensitive shopper, SAs don't want someone whose gonna try and nickel dime them to death so you'll become more of a priority cause you're 'easier' to work with

Overall, I think $30K in jewelry is still probably well shy of a Daytona allotment unless you're in a non-competitive market. But it should hopefully turn up a green sub or a batman or something....

Thanks. I see what you’re saying with the upsell. I don’t think, biting the jewelry mark up at an AD makes sense otherwise (meaning getting the Daytona) - I like the Batman and the green sub but won’t be paying a premium for those