How is Rolex Doing in Your Country?

[chicagowatchman]

You are hearing a lot esp about the poor economy in the US.

Yes we might be heading to what Waren Buffet calls " An Economic Pearl Harbor"

So whats up with the Rolex Economy in your neck of the woods?

Please post what country you are from and if Rolexs are flying out the door as someone said who lives in South America as well as Dubai......Or will they be collecting dust in the US as well as the UK as the economy sinks?

[f16570]

Will Rolex still claim to sell every watch they make? Yes.
Will they actually see a drop in sales? YES.
UK.

[SirLoki]

the official Rolex store here in Costa Mesa California is still busy as ever especially on a weekend afternoon and their prices are still firm. I was wondering if they would sell me some golf balls and tees but they still wont budge.... i guess the economy has to be doing extremely bad for me to talk them into selling those. haha

[Yume-sama]

Rolex is still doing VERY well in Canada, they are having some of their best sales. This should not really come as a surprise, Canada has not been hit *that* hard by any economic slowdown, and many people from Russia and China have been known to travel to my AD to purchase at a much lower cost than in their own Country. I'd venture to say that a huge percentage of the sales in Canada in places like Toronto and Vancouver go to people outside of the Country, to people from booming places like China.

[Bisquitlips]

My 4 AD's around here are steaming all head on!

Just had the one closest to me say that he had his best month ever in September.

[chicagowatchman]

Originally Posted by Bisquitlips

My 4 AD's around here are steaming all head on!

Just had the one closest to me say that he had his best month ever in September.

Where are you?

[Bisquitlips]

Originally Posted by chicagowatchman

Where are you?

Missouri.

[scottschoe]

Bay Area [peninsula] is doing just fine, according to a manager who sized a bracelet for me recently.

[chicagowatchman]

Originally Posted by Bisquitlips

Missouri.

Interesting because a bit up the river from you in Chicago...Sales Suck!!

[SLS]

Very soft here in Sacramento, their are 8 or 9 stores (3 AD's) fighting for sales. Discounts on most models are quickly part of the sales pitch.
~Scott

[casadecamporolex]

Was in Boston last weekend, Rolex AD was complaining. BMW dealer said he is having a hard time getting financing for his clients and most locals very nervous.
Was in Miami AD two weekends ago; no Americans buying, but lots of Venezuelans going crazy.
In upstate NY, there is no life to any sales market...cars, houses, jewelery are all taking a big hit.
In the Dominican Republic, all is tranquil amongst the well to do; lots of rich Chinese, Russians and Venezuelans all wearing big watches and driving Range Rovers with $6.00 gas.

[casadecamporolex]

Originally Posted by SLS

Very soft here in Sacramento, their are 8 or 9 stores (3 AD's) fighting for sales. Discounts on most models are quickly part of the sales pitch.
~Scott

My in laws live outside of Sac-town and say it is as bad as they can ever remember it there. Everything on sale with big discounts.

[SLS]

Originally Posted by casadecamporolex

My in laws live outside of Sac-town and say it is as bad as they can ever remember it there. Everything on sale with big discounts.

Yeah, that sums it up quite well, 5 or 6 car dealerships have closed their doors as well, amoungst 100's of other retail businesses.
~Scott

[haakon59]

I am guessing that Rolex sales will slow down in the USA (although I don't mean Rolex any ill will). It is possible, once this economic adjustment shakes out, that prices will actually go down for the first time in a long time, although it is tough to predict when there are so many factors to consider. Even so, I would love to see Rolex "weathering the storm" regardless.

[llamaofdoom]

Sales are way down in Atlanta over the past month and a half...whether or not you are close enough friends with people in the trade will depend on whether or not people will admit it to you... But it is fact that grey market, used and AD sales have taken a real hit since August.

[Porsche]

My AD said he sold 2 Rose Gold Daytona's last week,,, I don't know the MSR price, but I think it's over $30K+

[sea-dweller]

I haven't been to an AD recently here in the Bay area. When I was in LA last week, I visited a Ben Bridge (Santa Anita Mall in Arcadia) and there were 'no discounts' given when I asked politely.

[Bisquitlips]

Originally Posted by chicagowatchman

Interesting because a bit up the river from you in Chicago...Sales Suck!!

Interesting! I do know that the AD owner acted rather shocked at how well his sales were going.

I suppose the gentleman could have been fibbing, but I don't see the motive.

[chopperboy]

My AD in the West Palm Beach, Florida area is DEAD....... I have been there a couple times, and speak to my sales person regularly, who has become a good friend, and he has told me it's extremely slow, PERIOD!

Matt

[Trurolexer]

You know here in Jakarta, much Billioneres here. I think even Indonesia economic is down a long time ago, for Rolex (luxury goods), not much selling problem IMO.

[Singslinger]

Looks like the brand is still thriving in Singapore, at least judging by the premiums being charged by ADs and the grey, secondary market for the Milgauss, LV Sub and Ceramic GMT2. However, I hear the SDDS's premium has disappeared, though this could be a world-wide phenomenon and not confined to just Singapore.

[chicagowatchman]

Well the bailout plan was passed and stocks tanked in the US




:patr iot:

[GerardoG]

McAllen, TX, USA; dealer has its hands full; very busy. Cancun/Cozumel, Mexico 'as usual'. September and October are 'slow' months; July/August waere good for ADs

[Green Arrow]

Originally Posted by chicagowatchman

You are hearing a lot esp about the poor economy in the US.

Yes we might be heading to what Waren Buffet calls " An Economic Pearl Harbor"

So whats up with the Rolex Economy in your neck of the woods?

Please post what country you are from and if Rolexs are flying out the door as someone said who lives in South America as well as Dubai......Or will they be collecting dust in the US as well as the UK as the economy sinks?

When Warren buys preferred stock with a locked dividend at 10% or 11%, and gets warrants exercisable at a crisis price that he can exercise over a period of years, then it is in his best interest to see taxpayers throw a trillion dollars at shoring up the credit system with the attendant shortening of the time the US stock market will remain down. That puts him in a position to sit without new capital committed and allow the common stock (for instance in GE this week) to ride back up over a year or two, then exercise his warrants at $22.25 and cash them in same day.

So when he warns that we are "on the floor" it is worth noting his other mantra: "be greedy when others are fearful".

The man isn't a billionaire without understanding how to manipulate markets and politicians.

And yes, I'd sell both of my Rolexes to feed my wife and the dog. The kids are all old enough now that I expect them to continue feeding themselves.

[Green Arrow]

Originally Posted by chicagowatchman

Well the bailout plan was passed and stocks tanked in the US




:patr iot:

Keep in mind that hedge funds need to have funds for redemption calls for December, and that passing a bill that injects liquidity into credit markets does not change underlying economics such as job losses, consumer purchasing slow downs, and the like. Funds are cashing, and a fair number of short term large scale traders who are money managers played the short term suspension of short selling as a method to pack their portfolio to the long side driving up prices at month end. They couldn't be hurt until after passage of the new bill as short selling was banned during that period. That ends shortly, so overconfident long positions will be exposed to risk again. Plus the bill itself is not a panacea. This doesn't get rid of pain, it shortens the duration, helps our international trading partners feel more confident, and if it works, creates more lending thereby helping small businesses stay in business, none of which fixes Wall Street overnight, but it wasn't intended to.

Now let me tell you about the lume on my Deepsea......it is very, very nice.

[Green Arrow]

Originally Posted by scottschoe

Bay Area [peninsula] is doing just fine, according to a manager who sized a bracelet for me recently.

Interesting. Is that you in your Avatar? Since you look both younger and smarter than me, tell me who the buyers of Rolex are in the Bay Area. I'm in Silicon Valley, and I never see a young tech guy wearing a Rolex. Mostly a lot of G-Shocks, Timex and Tag. Other than us dinosaurs (me, anyway) I am wondering who is buying the Peninsula Rolexes.

[ikra]

If its the AD on the corner of Datura & Olive in WPB- has sold 2 in the last month to me, no date sub and SDDS- the rest of town is looking more depressed than usually though. Always enjoy going in as well.

[scottschoe]

Originally Posted by Green Arrow

Interesting. Is that you in your Avatar? Since you look both younger and smarter than me, tell me who the buyers of Rolex are in the Bay Area. I'm in Silicon Valley, and I never see a young tech guy wearing a Rolex. Mostly a lot of G-Shocks, Timex and Tag. Other than us dinosaurs (me, anyway) I am wondering who is buying the Peninsula Rolexes.

Yes that's me. I have no way to back it up, but I'm pretty sure that the majority of buyers in the area are the older/retired type. Young people don't tend to flash much around here - it's a whole different world a few hours south though.

[Z-Sub]

My AD notices very little change in the business. Maybe there are less AD's around

[CKay]

Sales of Rolexes both new and pre-owned are bustling in Singapore. The boom is likely to continue for the next 5 years. The AD pretends to be hard of hearing when I say these words softly 'May I have a discount on this piece, please?' i am afraid that those sitting nearby may just fall off their chairs.