Demand for Rolex sports models over the last 20 years

[AK797]

Flippers are using credit cards to buy the hotter models now as there is instant profit in it. Half the problem with all the new demand is this use of credit, just as credit to buy luxury goods like LV and Gucci was rampant in the mid 2000s and led to the credit crunch and crisis of 08.

[Nairn1980]

Originally Posted by peterpl

Hence my question. I've never seen 0% interest offered on watches to be honest. I've heard of people doing it though.

What I do is have a spare credit card with a large limit.

When I buy a new watch generally it goes on this, then I transfer it onto a new 0% credit card (many found on comparison sites).

[Devildog]

Originally Posted by tyler1980

the real question excluding 0% is how many people are paying interest on luxury items as standard? It ends up being way more than retail and its something you dont need.

Is it common?

Yes, sadly, in the UK at least. Its not about need, any more, its about want and a sense of being entitled

That, and the Instagram generation

My local grey sells a lot of Rolex watches to younger people who probably can't afford them. My local AD tells me that the in store credit facilities are popular too.

[tyler1980]

Originally Posted by Devildog

Yes, sadly, in the UK at least. Its not about need, any more, its about want and a sense of being entitled

That, and the Instagram generation

My local grey sells a lot of Rolex watches to younger people who probably can't afford them. My local AD tells me that the in store credit facilities are popular too.

thats a disaster waiting to happen. Market turns, watch prices fall, people lose their job and cant sell a watch that isnt paid off. At a minimum you would probably owe more than you can sell it for.

[Devildog]

Originally Posted by tyler1980

thats a disaster waiting to happen. Market turns, watch prices fall, people lose their job and cant sell a watch that isnt paid off. At a minimum you would probably owe more than you can sell it for.

Only if the market falls far enough. But yes, it seems not much was learnt from (or has since been forgotten about) the 2008 downturn.

Its not just watches. I've seen three McLarens near where I live in the past 24 hours, all with younger drivers, and I'd be willing to bet that two of them if not all three are on some finance arrangement.

[R!$]

sales are down so production has also slowed
Rolex must keep up the appearance of scarcity to keep SS prices high

[Chuckwagon]

When I bought my Rolex submariner non-date in late 2010 it had apparently been sitting unsold in the AD window for over a year (it is an M serial with a PJ3 bracelet code which apparently dates it to 2008).

I hadn’t gone there wanting a Rolex but was underwhelmed by the watch that I had in mind, so the sales guy suggested bringing me some other watches including the submariner to consider. I quite liked it at the time but didn’t want to make an impulse purchase so I said I’d think about it and went back almost a week later to buy it, it was still there.

The sales guy said it was a nice watch but admitted that the non-date wasn’t a popular model and he said they had it for quite a while and a lot of customers looked at it but then chose the date submariner which was much more popular.

But anyway my experience was that it wasn’t difficult at all to buy it back then, at least the non-date submariner, and I could take time to think over the purchase decision .

[etp]

Originally Posted by Chuckwagon

When I bought my Rolex submariner non-date in late 2010 it had apparently been sitting unsold in the AD window for over a year (it is an M serial with a PJ3 bracelet code which apparently dates it to 2008).

I hadn’t gone there wanting a Rolex but was underwhelmed by the watch that I had in mind, so the sales guy suggested bringing me some other watches including the submariner to consider. I quite liked it at the time but didn’t want to make an impulse purchase so I said I’d think about it and went back almost a week later to buy it, it was still there.

The sales guy said it was a nice watch but admitted that the non-date wasn’t a popular model and he said they had it for quite a while and a lot of customers looked at it but then chose the date submariner which was much more popular.

But anyway my experience was that it wasn’t difficult at all to buy it back then, at least the non-date submariner, and I could take time to think over the purchase decision .

Unreal - first I've heard of a situation like that. Those were the days...