Nashville, TN - ADs are gone

[exador]

Originally Posted by Mystro

This is easy to guess what is going on at struggling AD's. How do you stay in business with nothing to sell?

They have plenty to sell alright. It's just that you and I don't get to see it

[StackLexus17]

Originally Posted by TswaneNguni

Rolex caught them .No AD simply loses status .

I have mentioned before that Rolex sends ghost buyers to grey's to trace the route of the stock .

This is 100% a fact.
Have a family member that works at an AD

[Kliminator]

Originally Posted by Investr

No AD needed! they've got Chase with Nashville Watch. Great trusted seller!

+1 for Chase from me too. Bought from him and was a good experience

I'm not located there but out of curiosity does Chase have a physical location to visit like some of the other dealers?

[mrarchiegoodwin]

Originally Posted by SirPolarBear

That's why I'm confused about why they all disappeared. The neighboring county to Nashville is in the top 10 wealthiest in the nation. We have very wealthy demographics and King's had crazy waitlists for far too many models.

Hopefully, your buddy can source a sub. If rumors are true.. A boutique is supposed to open.

Can this be related to why retail is declining in cities all around the US (except maybe Honolulu)? In the city where I live (half time), with population just under 900,000 (metropolitan area just over 7 million), there is one Rolex boutique (run by Tourneau) in a mall located within the central business district and one Rolex outpost in an old name jewelry store about 4 blocks away. Between and around those Rolex sources are many international boutiques as well as many empty storefronts.

I witness the detritus of affluence all around (massive construction, trendy restaurants, climbing rents, traffic accidents and vacancies in the public sector, especially police). My city has swelled with tech workers who have money but seem not to spend it in stores. Brands and retailers are struggling to find an effective response to this phenomenon. Not having a retail presence must challenge the established mindset. Having boutiques helps promote the allure of luxury brands. I remember being impressed with the sleek Porsche Design store, but then it closed. I cheered when it opened again and then it closed again. Lancel closed and opened one block away after 2 years absence. Goyard moved from its prominent corner location and was replaced by Moreau that stayed open less than one year. Hermes closed for remodeling 3 years ago and still has not reopened. Rimowa moved from a prominent spot to a smaller store 2 blocks away. Prada did an impressive renovation of its boutique and closed within 14 months. Celine went away forever. The Ralph Lauren boutique closed many years ago. Armani Exchange abandoned its grand building for a small store and then closed. I know some luxury boutiques (no names) that receive fewer visitors per day than they have staff (I know the staff from their previous jobs). Bigger stores have consolidated (Saks men's moved in with women's--ditto Macy's). Barney's replaced FAO Schwartz, but is now in Chapter 11. On a positive note (maybe), Cartier opened a grand store where Prada had been and Harry Winston opened directly across the street (below where Rolex has its service center). The Japanese brand Dita opened where Swatch used to be. But many empty storefronts are visible in a district where there were almost none before--even during the Great Recession.

After being away for several months, I returned to my home town to find more vacancies. I lost track of some favorite sales staff. The vacant stores look bad, but I worry more about the millions who work in retail. I tell my friends, who think we are "well off", that we reside in a pot of water and don't realize the burner is on.

[g_luck]

I simply can't believe how many people say screw the AD you have "blank" as a trusted Grey Seller. What a stupid thing to say IMHO. I would also bet money that the "trusted seller" is partly to blame for both AD's being gone. With that said.....if it is the case.....shame on the AD's for selling to them.

[Randy63]

Originally Posted by mrarchiegoodwin

Can this be related to why retail is declining in cities all around the US (except maybe Honolulu)? In the city where I live (half time), with population just under 900,000 (metropolitan area just over 7 million), there is one Rolex boutique (run by Tourneau) in a mall located within the central business district and one Rolex outpost in an old name jewelry store about 4 blocks away. Between and around those Rolex sources are many international boutiques as well as many empty storefronts.

I witness the detritus of affluence all around (massive construction, trendy restaurants, climbing rents, traffic accidents and vacancies in the public sector, especially police). My city has swelled with tech workers who have money but seem not to spend it in stores. Brands and retailers are struggling to find an effective response to this phenomenon. Not having a retail presence must challenge the established mindset. Having boutiques helps promote the allure of luxury brands. I remember being impressed with the sleek Porsche Design store, but then it closed. I cheered when it opened again and then it closed again. Lancel closed and opened one block away after 2 years absence. Goyard moved from its prominent corner location and was replaced by Moreau that stayed open less than one year. Hermes closed for remodeling 3 years ago and still has not reopened. Rimowa moved from a prominent spot to a smaller store 2 blocks away. Prada did an impressive renovation of its boutique and closed within 14 months. Celine went away forever. The Ralph Lauren boutique closed many years ago. Armani Exchange abandoned its grand building for a small store and then closed. I know some luxury boutiques (no names) that receive fewer visitors per day than they have staff (I know the staff from their previous jobs). Bigger stores have consolidated (Saks men's moved in with women's--ditto Macy's). Barney's replaced FAO Schwartz, but is now in Chapter 11. On a positive note (maybe), Cartier opened a grand store where Prada had been and Harry Winston opened directly across the street (below where Rolex has its service center). The Japanese brand Dita opened where Swatch used to be. But many empty storefronts are visible in a district where there were almost none before--even during the Great Recession.

After being away for several months, I returned to my home town to find more vacancies. I lost track of some favorite sales staff. The vacant stores look bad, but I worry more about the millions who work in retail. I tell my friends, who think we are "well off", that we reside in a pot of water and don't realize the burner is on.

So it goes.



Randy

[Uppersouth]

I’ve heard an out-of-state chain store is opening a location that will not be in Green Hills Mall. Was told it would be Boutique, but a store-in-store Boutique. Lee Michaels was the company this individual thought might be coming. We also lost Patek about two years ago, so maybe they’ll have both brands. Lee Michael’s has both at their San Antonio location. Who knows until it happens.

[Finslayer83]

Originally Posted by Kliminator

+1 for Chase from me too. Bought from him and was a good experience

I'm not located there but out of curiosity does Chase have a physical location to visit like some of the other dealers?

No.

But he will meet you around town at a secure facility.

He's got a nice ride.

[1665fan]

Soooo how do the greys moving hundreds of watches ensure their AD don’t get busted????

[Rollie Gent]

I live in Tennessee...I’m very tempted to tell this story next time I visit my AD.
I doubt it would do any good but it would interesting if they start moving more inventory locally.

[BSG75]

It’s very surprising that there are no Rolex AD’s in Middle Tennessee. The Nashville area is growing like crazy and the real estate prices are really going up as well. Out of Tennessee’s four main cities, you’d think this would be the best market for Rolex. Williamson County is one of the wealthiest counties in the country and should have plenty of potential customers.

[jltait]

Well with fewer ADs around now, turmoil in HK, and the devaluation of the yuan, maybe we’ll start seeing more stock show up at the few ADs that are now left in the US and Europe. I imagine at least some of the inventory originally destined for Asia this month will end up in other markets. Perhaps our Australian friends will get lucky.

[rominvicta]

Originally Posted by tyler1980

the Rolex mandated store remodels is certainly an issue for many AD's and Rolex is pushing hard to have their brand featured more heavily. At my AD in London you would think Rolex and Patek are on the same level after the remodel

When the market is hot its smart for Rolex to use their leverage to get this done. Not everyone wants to play ball, but no one would do it in a down market

Moving out of mall AD's is good too and they have done quite bit of this. Looks bad as mall jewelry stores dont look that upmarket for the most part

Agree to what you say. They simply tailor the AD as of their vision in future. Rolex wants to have OB and the sooner it happens the better. They will surely scale down number of AD. Any AD is getting its benefits by selling its other brands and that does not fit well into Rolex strategy. If I were Rolex, surely I would have pushed my AD to:
1. Update vision with a big investment. Now is the right moment to have that requested.
2. Scale up to OB and leave all the other brands in a separate location.
3. Track down any sale to grey dealers and run the AD that did it down! Especially if there are to many retail points in the vicinity of said AD. Whatever I do I wouldn’t be able to track all sales. Especially I would be closing both of my eyes to sales done through big retailers. And to a certain extent I would be willing to keep the grey business going on. That has also some positives.
4. Target myself to have future growth at the expense of PM models sold!

[train-time]

About a month ago I stopped by a local AD that I have known for a long time. The manager showed me their new case inserts that they had just received from Rolex. There were fewer watch slots and they were spread out with more space between the watches so as to not make the cases look as empty as before.

[BNABOD]

Originally Posted by SirPolarBear

I was on the waitlist for a few models at Kings.. They had to stop taking names as they weren't able to supply the demand. And yes, their case looked pathetic being almost empty.

SirPolarbear I am in Nashville had my name at Kings for 1.5 year for a blro long story short showed up there two months ago or so and all the Rolex display was gone and so there went my blro...(note they never even bothered to call me to tell me they were done w Rolex or Rolex was done w them). Anyhow got my deposit back ....

I heard the same of a Rolex boutique opening but no idea of any firm plans

Really should be a Nashville GTG not sure if that even exists ....

[Sunny Arizona]

Originally Posted by 1665fan

Then how does DavidSW sell a 100 watches a month??? He would have destroyed about 50 dealers at least

All the watches I’ve bought from him came from overseas ADs.

[BNABOD]

Originally Posted by Finslayer83

Yup.



I'm not going into detail but yes - there is a grey who I know dealt with Kings.



There is also a FL grey who dealt with the FL Kings location.

Doesn’t surprise me one bit
One day I went in Kings (and I went a lot) and sales guy says hey look at that Hondinkee LE iwc . I passed but two weeks later it was sitting in the listing of a famous Nashville grey dealer so there .... can’t say for sure it was the same watch but highly suspicious since very few were made.

I waited 1.5 years at kings for my blro . I was numb 3 and they showed me their books . Two were sold at least in 2018 and then nada . Call BS on them and they got what they deserved but at the same time customers get screwed ...

[BNABOD]

Originally Posted by g_luck

I simply can't believe how many people say screw the AD you have "blank" as a trusted Grey Seller. What a stupid thing to say IMHO. I would also bet money that the "trusted seller" is partly to blame for both AD's being gone. With that said.....if it is the case.....shame on the AD's for selling to them.

^ this

[BNABOD]

Originally Posted by Finslayer83

No.



But he will meet you around town at a secure facility.



He's got a nice ride.

What kind of ride not a green gt3 rs by any chance .....

[1665fan]

Originally Posted by Sunny Arizona

All the watches I’ve bought from him came from overseas ADs.

That makes sense....but why would rolex care if it’s US AD or overseas AD??? Sell to grey and “Your Fired”

[teck21]

Originally Posted by BSG75

It’s very surprising that there are no Rolex AD’s in Middle Tennessee. The Nashville area is growing like crazy and the real estate prices are really going up as well. Out of Tennessee’s four main cities, you’d think this would be the best market for Rolex. Williamson County is one of the wealthiest counties in the country and should have plenty of potential customers.

Have you been to Asia lately?


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[BillA]

[QUOTE=TswaneNguni;9895212]Rolex caught them .No AD simply loses status .

I have mentioned before that Rolex sends ghost buyers to grey's to trace the route of the stock .[/QUOTE

Your source?

[Wingslogo]

Originally Posted by Big J

I called King Jewelers a couple of weeks ago and was told they didn’t renew their contract with Rolex. The Bell Jewelers in Murfreesboro ending their relationship with Rolex is news to me. It’s a shame no authorized dealer in the middle Tennessee area. Only left in Knoxville, Chattanooga, Memphis.

Have we confirmed Bells has lost their status? As of the other it was still online but I haven’t checked and feel too rude to call or ask?


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[BNABOD]

Originally Posted by jrcash2

Have we confirmed Bells has lost their status? As of the other it was still online but I haven’t checked and feel too rude to call or ask?


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I checked last night on the Rolex website it doesn’t show anything in Murfreesboro

[Catatafish]

Here in nearby Memphis we lost an AD at the end of 2018, the Reed's jeweler in Wolfchase Galleria. Sales person told me they were not renewing due to no inventory and might pick up Omega in 2019 although that never happened. It's funny, I was planning on dropping by one of the ADs in Nashvegas on a trip next week, surprised to see news of their closing. Green Hills would be a logical place to open a new one. By the time you find a parking space your BLRO might arrive.

[tyler1980]

Originally Posted by 1665fan

That makes sense....but why would rolex care if it’s US AD or overseas AD??? Sell to grey and “Your Fired”

im sure Rolex dont care. Im guessing grey dealers prefer overseas watches because they are getting a vat refund because its being exported, and possibly not importing it into the US (or wherever) correctly/legally


so save a 20% VAT and avoid a US import tax/state sales tax, even if they paid retail for it its way way under retail in actuality

the government might care

There was some dealer in the UK doing just that selling APs a few years ago. Basically HMRC investigated him and i believe sent him to prison and charged him hundreds of thousands of pounds in back import fees/VAT

[RolyMoly]

Originally Posted by freddyfred89

There is an article over on Hodinkee where the CEO of Patek says he's shutting ADs. They don't like shops sitting with empty display cases, it looks bad.

Yes, my Rolex dealer who is also a Patek dealer in FL, was recently shut out by Patek. They weren’t happy about it as they were a Patek AD for like 45 years or something.

[RolyMoly]

As far as I’ve known the only authorized dealer in Nashville was King’s.

And they haven’t had anything under the glass except for the typical ones that no one really buys, for probably a year or more. I’m not surprised if they cut off Rolex.

From a business point of view, I can’t really blame them if that happens that way. it’s hard to pay your employees and keep the lights on when you’re not getting any product to sell to make any profit on to pay those bills.

[77T]

Originally Posted by SirPolarBear

The neighboring county to Nashville is in the top 10 wealthiest in the nation. We have very wealthy demographics and King's had crazy waitlists for far too many models.

Wealth isn’t the key metric for retail sales. In fact wealthy residents may be otherwise conservative and not spending on outward displays of their financial status.

Ironically, I’d say many (maybe the majority) of new buyers are buying Rolex and Patek watches that they really can’t afford. If you could peel back the customer’s financing and credit card payment plans you’d be surprised. Cars and watches consume more cash flow than their living expenses.

BTW, waitlists for low MSRP Rolex models are an inversion of the sales model - the incoming inventory is too low to support an AD’s investment.

All the while $30+k watches are sitting unsold or being sold few and far between.


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[77T]

Originally Posted by jrcash2

Have we confirmed Bells has lost their status? As of the other it was still online but I haven’t checked and feel too rude to call or ask?


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I think the Rolex.com locator map answers that - no ADs there.

In fact Nashville looks like the “hole in the donut” in the Mid-South. (The “+” sign means more than 1 AD in a city)




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