Selfridges offering bundles to walk ins!

[TheVTCGuy]

I am going to visit that AD and say: “Hello, my name is Mr. Walkins.”

[Klopez]

i find it hard to believe. Very little proof of this slow down.

[Rickkk]

Originally Posted by Klopez

i find it hard to believe. Very little proof of this slow down.

Maybe where you are. People have been hit hard in the uk

[shammad10]

Originally Posted by Klopez

i find it hard to believe. Very little proof of this slow down.

As a walk in two days ago I was offered-
DD40, Skydweller on oyster flex, full gold sky dweller, YG YM42 on OF and YM37 on OF.
The SA said they had been through the whole list of registration and the watches had been turned down.

Whether you choose to believe me or not is another matter. But what motivation would I have for lying about it?

[Mr Ben]

Originally Posted by Rickkk

Maybe where you are. People have been hit hard in the uk

I agree they have. But have Rolex buyers been hit hard?

Whatever emerges will give a clearer indication of the demographics that have been purchasing. Crypto (bitcoin at least) is holding ok, stock market’s just about fine, cash is finally returning interest. An increase in utility bills, food and other expenses can be absorbed if surplus cash is generating returns, income is up and most markets are fairly steady.

If purchasing is all funded by property equity release and debt, this could get a bit messy.

[kwingy]

I find this very hard to believe. For sure PM isn't selling like it was but no way are they ready to do a guaranteed bundle for a hot SS piece especially the ones mentioned.

[Harry-57]

Originally Posted by BillA

To add to the OP’s point…. I was in London Jewelers last weekend and as a walk-in offered me a TT Skydweller. I cannot be 100% sure but if I had a purchase history, may have been able to walk out with a SS Professional Sport model.

Keeping my fingers crossed things are changing.

TT Sky Dwellers were lurking in ADs for the taking when there were no SS models anywhere to be seen.

From my limited anecdotal observations I think things are changing for the better but I would not cite being able to walk in and buy a TT Sky dweller as an indicator. Having said that, you could have better knowledge of the historical behaviour of the particular AD in which you were offered it. Maybe they never used to offer Sky Dwellers to walk ins?

[Harry-57]

Originally Posted by shammad10

As a walk in two days ago I was offered-
DD40, Skydweller on oyster flex, full gold sky dweller, YG YM42 on OF and YM37 on OF.

Can you give any more details about the DD?

[shammad10]

Originally Posted by Harry-57

Can you give any more details about the DD?

Yes I can, Harry. I took some pics as I was so surprised to see things for sale.



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[rolexgs]

Originally Posted by shammad10

Yes I can, Harry. I took some pics as I was so surprised to see things for sale.



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very beautiful DD!

[brandrea]

I believe the part about PM Rolex becoming more available. Hopefully one day SS references will too.

Then we can cut the wheat from the chaff and all we’ll be left with are true watch enthusiasts

[996marty]

Originally Posted by shammad10

As a walk in two days ago I was offered-
DD40, Skydweller on oyster flex, full gold sky dweller, YG YM42 on OF and YM37 on OF.
The SA said they had been through the whole list of registration and the watches had been turned down.

Whether you choose to believe me or not is another matter. But what motivation would I have for lying about it?

I can 100% believe what you say and now is the time to buy but unfortunately as you say most people have been hit hard,so are most people going to be able to go out and drop a fair bit of money on a watch? I’m not sure.
Rolex have in a roundabout sort of way shot themselves in the foot by making everything exclusive to a select few or people of their choosing. Items might be in the shops to buy currently but as soon as inflation drops and people have that money to spend again I’m pretty sure that supply will dry up again.
Buy while you can.

[Ten Ten & 32]

It’s not just high end PM pieces that’s are slow sellers currently.

I had a Tudor AD call yesterday asking if I was still interested in the new white dial GMT

I must have ‘registered an interest’ when it was first released back at Watches & Wonders.

I’d forgotten about it actually, but cut to the chase

He said he’d called nearly everyone on the list & got pretty much the same reply

‘It’s not the right time currently’ or similar excuses.

That’s a list of £3,590 UK Sterling,so if they are struggling to shift those then £30k to £80k watches may take a little longer lol


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[Miker86]

Don’t understand people disbelieving the OP. With the state of the UK economy and many pieces now trading below retail it’s very easy to believe that PM pieces are available to buy. I question how many people actually wanted them during the craziness and whether they were purchased as people thought prices would rise in a straight line forever.

[HMHM]

Originally Posted by Miker86

Don’t understand people disbelieving the OP. With the state of the UK economy and many pieces now trading below retail it’s very easy to believe that PM pieces are available to buy. I question how many people actually wanted them during the craziness and whether they were purchased as people thought prices would rise in a straight line forever.

Seems like people on this thread have a common theme that the UK economy is in dire state. May I ask why is that so? For a person from SEA, the general perception of UK has been nothing but stellar based on previous conversations. In fact, a lot of my peers still intend on sending their kids to the UK for education etc.

[dannyp]

Clarification question for the OP:

You said, regarding the PM models, that buying “them” wood get you a stainless of choice, does that mean buying all of them? In that case, I would 100% believe just about any AD would offer same.

[shammad10]

Originally Posted by HMHM

Seems like people on this thread have a common theme that the UK economy is in dire state. May I ask why is that so? For a person from SEA, the general perception of UK has been nothing but stellar based on previous conversations. In fact, a lot of my peers still intend on sending their kids to the UK for education etc.

We have had some clowns in government for a few years. They decided to play a little game with the economy in September, sent the economy into freefall, peoples mortgages from 1% to 6% overnight, inflation into double digits and the Bank of England has been raising interest rates ever since. Combined with the post covid/Ukraine war, its been a perfect storm. Half the public sector are on strike, including teachers, universities, doctors, nurses and bus/train operators.

Thankfully it is fine for myself and my family- but for a lot of people who are highly leveraged and seeing their bills skyrocket, along with mortgages etc, it is a disaster.

[kaiserphoenix]

Also watch prices in the UK are VERY expensive vs other nations imo. No wonder people are rejecting calls.

[Rolexatlast]

Originally Posted by Mr Ben

I agree they have. But have Rolex buyers been hit hard?

Whatever emerges will give a clearer indication of the demographics that have been purchasing. Crypto (bitcoin at least) is holding ok, stock market’s just about fine, cash is finally returning interest. An increase in utility bills, food and other expenses can be absorbed if surplus cash is generating returns, income is up and most markets are fairly steady.

If purchasing is all funded by property equity release and debt, this could get a bit messy.

Not many people make money from cryptocurrencies. Stock market has gone nowhere over last few years. Property value falling. Many Buy-to-Lets are losing money - with rent not covering income tax and mortgage payments.

Cost of living is skyrocketing. Mortgages, utility bills, food, entertainment, restaurants, cars…all significantly going up, far outstripping pay rises. Pensions not keeping up with inflation.

Many people are looking to batten done the hatches, pay off debt and mortgages, top up pensions etc.

Dropping £40k on a gold watch is low on most people’s priorities. Especially as used watch prices are depreciating, and flippers have given up on PMs.

Plus, ADs have not been the most welcoming of places for most people.

Not surprising PM market has dried up with all those headwinds

[Nads786]

Originally Posted by Rickkk

Maybe where you are. People have been hit hard in the uk

I think this is a critical piece of information. Watch sales are local and if the UK and Europe have a different economic environment I could see this being true.

This has almost zero applicability to the US. House prices are going up again and the economy is full steam ahead.

I do think the AD strategy makes sense, bundling is a classic way to increase the average transaction. As demand dissipates in the next 2-5 years, this strategy will be shortsighted and piss people off. My experiences with ADs across the US has left me with a sour taste and if I had an option of buying a watch from multiple ADs, I would go with the one who treated me the best and avoid doing business with any others.

[Subshark1861]

Originally Posted by Nads786

I think this is a critical piece of information. Watch sales are local and if the UK and Europe have a different economic environment I could see this being true.

This has almost zero applicability to the US. House prices are going up again and the economy is full steam ahead.

You must have a competent administration then!

[Nads786]

Originally Posted by Subshark1861

You must have a competent administration then!

Americans spend money like you wouldn't believe. We also get paid more than the UK. My friend worked at PWC and did a two year transfer to London, and all he heard from his London colleagues was the desire to go to the US to be paid more.

[Black Bay Dan]

Originally Posted by Miker86

Don’t understand people disbelieving the OP. With the state of the UK economy and many pieces now trading below retail it’s very easy to believe that PM pieces are available to buy. I question how many people actually wanted them during the craziness and whether they were purchased as people thought prices would rise in a straight line forever.

I think this hits the nail on the head regarding the state ion the Rolex market here in the UK.

[APPRF]

Originally Posted by Podmornica

Now imagine how much a plain Daydate 36 champagne dial will be worth this time next year. I reckon at least 15-20% sub msrp.

In 2019 I got 25% from AD on a DD36

[RCorsa]

In London now I’ll swing by and see if true

[dlddrrr]

I’m going to London in September, I will definitely visit Selfridges if that’s the case and see if they’ll bundle a panda Daytona with a Day Date.

[atxwatch]

Two things. UK has been HAMMERED financially. For those of you in the US who don't know...Banks don't generally do 30-year fixed mortgages in the UK (or in Europe) so most people end up with short-term mortgages that have to be refinanced every few years. Someone from the UK would probably know better than I do, but my understanding that 5-15 years is the range. Mortgage rates are 6%+ in the UK now and anyone who has a mortgage due to refinance is in big trouble. And that includes wealthy Brits.

Apart from this...IME Brits and the European consumers in general aren't spending as recklessly as the American consumer. There are lots of folks out there buying watches, cars, etc right now that they have ZERO business buying. They just prioritize this over saving for retirement, a rainy day etc. Which will eventually be a problem when the music stops playing.

[supernova]

Isn't this always the case? Except for past 3 years when PMs were selling over list.

BTW, the OP didn't mention bundling SS Daytonas, just Subs and GMTs.

[TheRtHonA]

Originally Posted by atxwatch

Two things. UK has been HAMMERED financially. For those of you in the US who don't know...Banks don't generally do 30-year fixed mortgages in the UK (or in Europe) so most people end up with short-term mortgages that have to be refinanced every few years. Someone from the UK would probably know better than I do, but my understanding that 5-15 years is the range. Mortgage rates are 6%+ in the UK now and anyone who has a mortgage due to refinance is in big trouble. And that includes wealthy Brits.

Apart from this...IME Brits and the European consumers in general aren't spending as recklessly as the American consumer. There are lots of folks out there buying watches, cars, etc right now that they have ZERO business buying. They just prioritize this over saving for retirement, a rainy day etc. Which will eventually be a problem when the music stops playing.

You summed it up, only thing to note is that most mortgages at 2-5 year fixed so the roll off in the next 12-18 months will be steep. Numerous of my colleagues have fixed rate deals <1.5% expiring and the new rate will be 4-6% (depending on LTV). When interest rates change that rapidly you need to delever versus buying gold watches. In addition inflation is soaring, childcare costs are high, foreign holidays are much more expensive etc etc. The pool of available buyers has diminished rapidly.

[Mr Ben]

Originally Posted by atxwatch

Two things. UK has been HAMMERED financially. For those of you in the US who don't know...Banks don't generally do 30-year fixed mortgages in the UK (or in Europe) so most people end up with short-term mortgages that have to be refinanced every few years. Someone from the UK would probably know better than I do, but my understanding that 5-15 years is the range. Mortgage rates are 6%+ in the UK now and anyone who has a mortgage due to refinance is in big trouble. And that includes wealthy Brits.

Apart from this...IME Brits and the European consumers in general aren't spending as recklessly as the American consumer. There are lots of folks out there buying watches, cars, etc right now that they have ZERO business buying. They just prioritize this over saving for retirement, a rainy day etc. Which will eventually be a problem when the music stops playing.

5-15 years for a fixed rate mortgage might be common across Europe but the U.K. is typically shorter. In recent years, the majority of fixed rate mortgages were fixed for 2-5 years and then reverted to a standard variable rate at which point they were refinanced. The few longer term options available were expensive so weren’t very popular.