How do I get one? Noob here

[RollingInTheDeep]

My first was a GMT II at a time when ADs had a piece in the case for sale and extra in the back, and they would discount (crazy, right?). I had no purchase history.

The reason I got the watch was because it was a buyer's market - it had nothing to do with the fact it was for a special occasion. This idea that it being for a "special occasion," having the AD like you, etc. is mostly fabrication. I say mostly, because if they are selling to someone retail (and not out the back) they want to ensure the end buyer isn't a flipper.

Now things have changed. These watches are in higher demand (but that is starting to soften). These AD's are in business to make a profit after paying overhead such as extremely high retail rents in HCL areas and costs of good such as jewelry, etc. Since these watches are in demand, ADs typically try to pair watches like subs and GMTs with jewelry purchases including engagement rings, anniversary/birthday/push gifts. ADs make 40% on watches while margins on jewelry are anywhere from 60-80%+. The owner or boutique manager is making the call as to who gets what - not the sales person who has been there for 2 years and knows less about Rolex as you do.

The idea that those that spend big bucks on jewelry are rewarded is not fiction. There's a reason the Daytona is well known as a "reward piece."

That all said, I saw someone on a well known watch club say "after 8 years I finally got the call" for a Daytona 116500 black dial. Someone asked how many watches he had bought prior - he responded, "8." So 8 * $15k average cost of a watch is $120k. keep in mind there was also an element of luck since he isn't the only one spending that kind of money at an AD. What if you don't have $120k to spend on watches plus the retail cost of the grail, and just want one watch - say the Daytona? This is where paying ~$30k for a BNIB where the dealer is serving as a broker start's to make A LOT of sense.

I too was a "retail or bust" person, but once you start to understand how this really works, the environment actually unfairly benefits the ADs until the market shifts to the point they have to discount again. Of course I continue to stay close to a couple ADs, but don't expect anything because I have little to no total purchase history. I do agree with most that it is worth the time getting acquainted with ADs since who doesn't want to be able to buy retail, but there is a time and place to go secondary.

Note: I don't use the work "grey" because those watches are typically sold through wholesale online shops (Joma) or watch trading circles without card/warranty as they were sold in bulk during a liquidation, etc.