Dear Rolex: You are a Joke

[Maxy]

Originally Posted by Rolex addict

I love ya, brother, but got to call you out on this one. You just sold a fully stickered Kermit for a profit. Why? Because of the demand.

Hear, hear. I think (at least) some folks are just pissed that they can't get hold of DayC to flip for a nice profit. Easy $5K.

[superdog]

Love all these comments. It's a good discussion that's happening here.

[strafer_kid]

Originally Posted by zaydans

I'd agree with everything you say OP and I'm with you 100%. The problem is that there are enough Rolex slaves out there that will pander to this type of sales and marketing bs to ensure that Rolex and their ADs can do whatever they want. Personally I don't need a Chronograph function, and there are sufficient alternatives out there so why wait years or pay over the odds for a daytona?!!

Very well put! People appear prepared to pay way over the odds for this watch and whilst that remains so, all they hype, friction and disappointment will continue. Rolex could possibly do the same if they wish with some other releases such as the much talked about Seadweller43mm, though hopefully they will not!

Fortunately I have never been a huge fan of the Daytona and whilst I might not decline one if offered at MRRP (will never happen though), I certainly will never go chasing one at an inflated price. The real big disappointment for me however is that Rolex appear to be taking no steps to prevent the hiked up prices where these watches are being sold outside of ADs, given that the watches must in the first instance be sourced either via ADs or Rolex directly? Not sure what message that send out!

[superdog]

Originally Posted by Maxy

Hear, hear. I think (at least) some folks are just pissed that they can't get hold of DayC to flip for a nice profit. Easy $5K.

I think Chad has a good point. I think you are wrong.

[Rolex addict]

Originally Posted by Maxy

Hear, hear. I think (at least) some folks are just pissed that they can't get hold of DayC to flip for a nice profit. Easy $5K.

There are some people who want it so they can flip it for an easy profit. However, there are some who want the watch wear and have zero intentions of flipping. It really sucks for them, but that's capitalism. Demand is extremely high, and supply is low.

[eterna]

Easy way out, just walk across the street to the AP boutique and get a Royal Oak. Why bother to wait 7~8 years. Many of us just got tired of this Daytona bull-shiit and spent our money on other brands.

[Rolex addict]

Originally Posted by superdog

I think Chad has a good point. I think you are wrong.

From the number of Daytonas I'm seeing for sale, I believe he has a point. It's easy money if you can get your hands on one at MSRP.

[sierra11b]

I left Rolex two years ago because of their direction and haven't looked back. The SD43 was the final nail in the coffin.

[hoppes-no9]

Originally Posted by superdog

ha. yeah, not a troll. or maybe I am in disguise and this is my coming out party??

playing the long con.

[superdog]

Originally Posted by Rolex addict

From the number of Daytonas I'm seeing for sale, I believe he has a point. It's easy money if you can get your hands on one at MSRP.

Well, I do know you make a habit of looking at the for sale section so I'll have to take your word for that.

I haven't looked. I'm not really interested. As per the OP, this whole thing came up from the casual conversation.

If I'm ever to get a Daytona again, it's going to be the blue dial or the new oysterflex version.

I still think the issue is ridiculous. The AD would not even take an order if someone did not have a purchase history? And if they do it's a 7 year wait?

I don't know how anyone can justify the that.

But true story, it's a private company and they can do as they wish. Clearly they don't need my support, approval or my money. They are doing just fine without me. And I'm doing just fine without them too.

[Ferdelious]

And just think I got one new from an AD for MSRP in 2003 which I believe was $6,550 at the time. The price is now doubled in less than 15 years????? Whatever Rolex is doing it's obviously working.

[Rolex addict]

Originally Posted by superdog

Well, I do know you make a habit of looking at the for sale section so I'll have to take your word for that.

I haven't looked. I'm not really interested. As per the OP, this whole thing came up from the casual conversation.

If I'm ever to get a Daytona again, it's going to be the blue dial or the new oysterflex version.

I still think the issue is ridiculous. The AD would not even take an order if someone did not have a purchase history? And if they do it's a 7 year wait?

I don't know how anyone can justify the that.

But true story, it's a private company and they can do as they wish. Clearly they don't need my support, approval or my money. They are doing just fine without me. And I'm doing just fine without them too.

If you get a Daytona, it needs to be the Platona!!! I agree with you 100% that the issue is ridiculous. I believe you know the story behind my AD not even calling me to look at the new Daytona. Times are good and they have one of the most desired watches in the world. They can do as they please. That type of behavior shows us exactly what our business means to them.

[kilyung]

The same could be said about a number of other brands. Patek comes to mind. It's just the nature of the business to limit production to boost perceived value. Meh. Luckily I either have or don't care to have many of these models.

[superdog]

Originally Posted by Ferdelious

And just think I got one new from an AD for MSRP in 2003 which I believe was $6,550 at the time. The price is now doubled in less than 15 years????? Whatever Rolex is doing it's obviously working.

That's a fantastic point.

I wonder though how many people have potentially left the brand and what kind of other watches could have been sold.

Clearly, they are killing it though. So my guess is that your observation is spot on.

[m j b]

Originally Posted by porschejeff

Isn't this the same as what Ferrari does? They produce only so many. Very difficult to buy one new without a long long wait and paying a premium over MSRP.

I'm not saying I approve of this, but this is what creates their image.

I agree. It doesn't make it pleasant for the customers, but there are plenty of others out there who will put up with it.

I'm reminded of when I was buying a BMW back in the early aughts. My salesman had just delivered a new Z8, which at the time was about $135K MSRP, and he was stoked because he'd sold it for $25K over sticker.

I asked him, "did you give the customer a tube of K-Y with the car?"

He was not amused. I was. I thought I was hilarious.

I also thought it was a terrible thing for the dealer to do, but they were just responding to the supply and demand.

[superdog]

Originally Posted by Rolex addict

If you get a Daytona, it needs to be the Platona!!! I agree with you 100% that the issue is ridiculous. I believe you know the story behind my AD not even calling me to look at the new Daytona. Times are good and they have one of the most desired watches in the world. They can do as they please. That type of behavior shows us exactly what our business means to them.

I do remember that story.

And just so they can enjoy this peak, and the hype, they are very potentially leaving a lot on the table in other ways.

Human nature I suppose. For sure they are on top and doing it right.

It's just not for me, at this point in time.

[Old Geezer]

IMO, the Rolex business model encompasses Rolex itself, ADs and yes, the grey dealers. Rolex's primary objective as it is with any commercial enterprise is to make as much money as possible. If the official and unofficial distribution network (which IMO is just an extension of ADs) were not meeting Rolex's expectations for profitability, they would change it in a heartbeat. To prop up prices, create scarcity.
Unfortunately those of us who haven't spent a boatload of money at an AD or are willing to pay a premium don't fare well in this business model for acquiring a popular piece.

[superdog]

Originally Posted by m j b

I agree. It doesn't make it pleasant for the customers, but there are plenty of others out there who will put up with it.

I'm reminded of when I was buying a BMW back in the early aughts. My salesman had just delivered a new Z8, which at the time was about $135K MSRP, and he was stoked because he'd sold it for $25K over sticker.

I asked him, "did you give the customer a tube of K-Y with the car?"

He was not amused. I was. I thought I was hilarious.

I also thought it was a terrible thing for the dealer to do, but they were just responding to the supply and demand.

Agree. But I'd love to bring up my Ford experience again. I had bought many cars from this one dealership. He would not budge off of the 20k over lost for the GT350. He lost me as a customer and we have bought 3 more Fords since then. Was that worth the price gauging?

Well, they too are killing it, so obviously I'm the dope here.

[ryan.uk]

I'm fortunate that the 500C, and even the Daytona generally was not a watch on my hit-list - but one could argue that, in a way, the marketing is doing something right, because Rolex have essentially forced three categories of customer for this piece:

1) People who have managed to get one, at list or thereabouts, and couldn't be happier, feel lucky, like they've hit the jackpot even...
2) People who have managed to get one, and paid way over the odds, but feel like they've got something exclusive, hard to come by and valuable
3) People who reeeeeeally want one bad and are willing to add their name to an 8 year waiting list to get hold of one and will eventually become '1's' (or 2's if they decide they just can't wait any longer).

At this point, if Rolex now just churn out thousands of them and flood the ADs, a fair number of people will be as unhappy as people who are 3's but want to be 1's sooner.

[Rolex addict]

Originally Posted by superdog

I do remember that story.

And just so they can enjoy this peak, and the hype, they are very potentially leaving a lot on the table in other ways.

Human nature I suppose. For sure they are on top and doing it right.

It's just not for me, at this point in time.

Exactly!! They lost my business. During a trip to Disney last November, I was debating on a white DJ2 and a 15400. Paid a visit to David and you know the rest. The entire experience with my AD soured me on Rolex for a while, but I came around.

[cht]

Originally Posted by Old Expat Beast

Seth, didn't you buy two or three stickered BNIB Rolexes a while back, to keep in the safe as investments for when they got really scarce? Did you sell them already?

just curious...did I miss the response?



But seth, isn't this just part of marketing to increase brand equity?

Isn't part of having a luxury brand all about EXCLUSIVITY?

They do that in part with price, as do ALL luxury brands, even Omega.

[Jake B]

Seems absurd. I've seen several over the past year in shop windows.

[superdog]

Originally Posted by cht

just curious...did I miss the response?



But seth, isn't this just part of marketing to increase brand equity?

Isn't part of having a luxury brand all about EXCLUSIVITY?

They do that in part with price, as do ALL luxury brands, even Omega.

Ha. No, I fell asleep last night and woke up to a few pages of things I missed.

In response, Adam my friend is very aware that patience is not my strong point. And while I actually would love to still have those, they were all sold...one was destickered and worn by me.

And I get your point above. I genuinely do. I just don't agree with how they are going about it.

Haven't seen Omega do this though. They simply had LE watches with limited numbers. Imho, it's different.

[Maxy]

Originally Posted by superdog

I still think the issue is ridiculous. The AD would not even take an order if someone did not have a purchase history? And if they do it's a 7 year wait?
I don't know how anyone can justify the that.

Okay, I can easily understand your point. But can you try to be in AD shoes for a minute please? Every AD has their own regular customers. So, even there is no official list or not, there are always minimum 20 folks waiting in line to buy the DaytonaC. That list is not ending anytime soon and even as folks gets their watches delivered, the list will be growing as well. So, logically, there is no point for an AD to put some random customer over their regular customers to sell the most in-demand watch. They have over 500 different types of Rolex watches to sell to that customer and you can't expect that special ONE to be handed easily in your hands.

Actually main point is not to sell the watch to non-regular customers is that Rolex is pretty much aware about the resale value in market now and AD's don't want some random person purchase it and then sell it for profit. So, that's why we hear stories that AD selling without stickers on and someone actually asked the customer to engrave something. All this is to avoid customers from flipping it for profit. Selling to known customers is also part of the same strategy.

I bought many Rolex from my regular AD and I can be on his list but I don't expect some random AD whom I have no contact to put me on his list over his regular customers and trust me as much as my own AD. Its just business!!

tdlr: So, imagine if you become Rolex AD tomorrow, will you be selling away the watch to anyone walking in the store and say there is no list or preference for your loyal customers?

[Bluside]

deleted

[AK797]

Originally Posted by superdog

I have not one Rolex in my collection currently. Largely because I do not like the brand.

Yes, I love and appreciate many of their watches. I am just not OK with representing the brand.

I respect that most here do like the brand. I very much so do. Currently, it is just not for me.

And that is coming from a guy that REALLY wants a DJ41 in steel. I love that watch.

I am just not sure I am OK with wearing it.

Seth, I wouldn't let these marketing practices put you off the DJ41 if you really love it. We are all annoyed at Rolex and I think that is the appropriate word. Annoyed. We cannot be outraged or disgusted as these are just trivial matters about luxury products that most people can only dream of owning. So putting things into perspective, I say go for the watch and enjoy it as the best FU to the Daytona marketing machine.

Originally Posted by DeeTee

Rolex is making a gang of cash on these things.
For an AD to receive the D500, they have to take a whole box of DateJusts, PM models, etc.

Yes, and how do they get people to buy these slower moving models? By having more people interested in the brand due to the Daytona hype and then settling for one of these slower sellers just because of the name, which we all know is what draws 90% of buyers to Rolex. While it must be galling for Rolex to see so much of the profits of the hype going to resellers and flippers the D500 is performing its primary function of increasing brand equity and awareness and overall sales.

[DJRikki]

Originally Posted by strafer_kid

...The real big disappointment for me however is that Rolex appear to be taking no steps to prevent the hiked up prices where these watches are being sold outside of ADs, given that the watches must in the first instance be sourced either via ADs or Rolex directly? Not sure what message that send out!

WHAT?

Have you seen the threads about AD's withholding the warranty cards; some saying the case backs needs to be engraved; only giving to prequalified customers who have a history of purchasing and retaining other models ...

What would you suggest is done?

[SMD]

The Daytona is simply the sugar that helps the medicine (unpopular models) go down for ADs. And ADs use it to package a Daytona with slow moving pieces or otherwise reward people who help them move inventory. It's all about moving lots of watches and it's in their best interest to keep the grey market alive and well fed.

[Old Geezer]

Originally Posted by SMD

The Daytona is simply the sugar that helps the medicine (unpopular models) go down for ADs. And ADs use it to package a Daytona with slow moving pieces or otherwise reward people who help them move inventory. It's all about moving lots of watches and it's in their best interest to keep the grey market alive and well fed.

I agree.

[FTX I]

Can't say I care about this trouble with the Daytona. A cyclops on a Sea Dweller bothers me much more.