AD's finally being more responsive?? Signs of better times ahead?

[Roger Lococco]

Originally Posted by C0d

I spoke to ADs in Vancouver, BC and was told that the Chinese money is still coming in by the boats.

Demand is therefore still very high and they are still hopeful that they will be able to serve "average people". That's exactly the word she used.

Sounds right. Now that Canada has put a 2-year moratorium on foreign home buying, a portion of that “investment” (cough) will continue to flood the luxury goods market.


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[noshake]

Originally Posted by malba2366

I don't think that is up to the AD, those watches are supplied to the AD by Rolex USA specifically as exhibition pieces and can't be sold until Rolex tells them they can. I think Rolex saw a softening in demand towards the tail end of last year, and decided to do this so customers have something to look and try on as the days of people making $10-50K purchases sight unseen are coming to an end. The community on here probably doesn't see value in this; but seeing a watch and trying it on makes a difference in closing a sale with the (much larger) market of window shoppers or non watch enthusiasts.

I agree

[noshake]

My AD checks in with me about once a month. Still low inventory and no new orders being taken by Rolex.

[johnwigan]

ADs have a vested interest in keeping the 'shortage' going for as long as possible so don't take what they say as the gospel truth. However, at the end of the day they will need to sell watches. Without flippers they need to find a customer prepared to spend a lot of money on a wristwatch, to wear on their wrist. And keep finding customers.

The Chinamen in Vancouver stuff, I have no idea, no idea. Chinese men are sending money by boats to buy Rolex watches in Canada? Yes, that sounds true. See my first paragraph above.

[temporarychicken]

P varies reference by reference.

For a DJ41 bimetal Pn=P already it appears....

[malba2366]

Originally Posted by Roger Lococco

Sounds right. Now that Canada has put a 2-year moratorium on foreign home buying, a portion of that “investment” (cough) will continue to flood the luxury goods market.


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Why do people keep pushing this narrative that people are buying Rolexes as "investments". No one with serious money and a brain is buying $15-20k watches one at a time for investment purposes.

[sleepydoc]

Originally Posted by HelloMelo

Canada must be a much different market than here in the East Coast. My AD would never say something like that nor say "average people".

Vancouver is complicated.

[amh]

Originally Posted by malba2366

Why do people keep pushing this narrative that people are buying Rolexes as "investments". No one with serious money and a brain is buying $15-20k watches one at a time for investment purposes.

Because there are a ton of people out there willing to speculate - otherwise we wouldn't be in this mess. It's a reality, not a 'narrative.' Most of the buyers are speculators.

[Oystersteel92]

The crypto ballers on Insta have to be feeling the burn (Bern?) right about now. Honorable mention for the "diamond hands" ballers on wallstreetbets.

Meanwhile, my perfectly diversified and automated investment strategy rolls on. Nothing has changed in my life at all.

[malba2366]

Originally Posted by amh

Because there are a ton of people out there willing to speculate - otherwise we wouldn't be in this mess. It's a reality, not a 'narrative.' Most of the buyers are speculators.

Right...small time investors are, pushed by the narrative that it is a good investment, hedge against inflation etc. Chinese Whales who were buying up BC real estate are not going to turn their attention to buying up Rolexes. What I was trying to say is that no serious investor is going to move their attention from real estate to watches as an investment vehicle.

[Gab27]

Originally Posted by malba2366

Why do people keep pushing this narrative that people are buying Rolexes as "investments". No one with serious money and a brain is buying $15-20k watches one at a time for investment purposes.

The brain part is a major assumption.

Take a look at the number of people who put their life savings into crypto and now face financial ruin if you do not believe me. Many of these individuals have been egged on by a relentless stream of BS media telling them they would 'invest' and then make a fortune overnight.

[amh]

Originally Posted by malba2366

Right...small time investors are, pushed by the narrative that it is a good investment, hedge against inflation etc. Chinese Whales who were buying up BC real estate are not going to turn their attention to buying up Rolexes. What I was trying to say is that no serious investor is going to move their attention from real estate to watches as an investment vehicle.

No serious investor will.

But since Rolex only produces 1M watches/year it doesn't take a lot of speculators to soak up the available inventory. Even during the "good old days" Rolex still sold all their watches - now they can't keep up.

Anyway. The worst is yet to come for the economy and yes we'll see "better days" at the AD eventually. Not interested in a TT or PM, the situation with SS is the same as before.