Ask An Insider - Round 2

[The GMT Master]

Originally Posted by richard371

Just curious how many SS Daytonas your store would get a year roughly and how often did people come in and ask if you had one?

We got between 6 & 8 a year. At the height, there would usually be at least one person asking about it when I was in (I worked weekends), but it had died down by the time I left

[Tony-GB]

Thanks very much for bringing this unpaid service back Chris. If I ever see you at a GTG I'll buy you a shandy!

Now, the ultimate question:

Can I wear my Submariner in the shower...??!!!!

Seriously, the new blue dialed Yacht-Master: It has taken off on a terrific scale- everyone loves it, but- why didn't Rolex do it much sooner? Is it the same dial that goes into the gold YM or is it a new composition like the green gold in the Hulk?

Thanks in advance

[Casey VP-26]

Originally Posted by The GMT Master

Good question - I ended up leaving the AD almost a year ago, unfortunately there weren't any full time opportunities so I had to look elsewhere. I've been working for a major fashion retail chain, but it's not for me, so I'm looking at getting back into the watch biz. Hopefully I'll be back doing what I love soon

How about your own store, maybe a Rolex dealership.

Seems like you could handle it. Whatever you choose, Lots of luck.

[caryyee]

Originally Posted by The GMT Master

It does vary - for a lot, it'll be a case of coming in, trying a few on, and choosing then and there, or going away to think about it. There are some that might need two or three visits, and there are some who can take months and multiple visits to make their decision. If I was to put an average on it, I would probably say 2-3 visits

For my last 2 purchases from an AD, yup, it was 2-3 visits ... all within the same day lol!

[jimbones43]

We're you a watchmaker?

[Tiampuso]

Regarding profit margins, I don't see why Rolex has an issue with an AD's profit.

What they should say is max discount is X. Not concerning themselves with an AD's profit margin or discount rate.

This ambiguity is ridiculous.

It should be up to the AD to choose whether they want to wait for a customer to pay retail, offer a percentage discount or compete w other AD's.

It's called CAPITALISM aka business!

[A.Sharp]

Originally Posted by The GMT Master

For us, we would have everything on display unless we had duplicates. Stock is no good just sitting in the back hidden away, and Rolex want as many watches out on show as possible. At the last check, I think they were wanting over 100 pieces on display at any time, which is a huge amount of stock to have - maybe some of the bigger stores could afford to have a load in the back as well, but for a smaller independent, it just wasn't viable. So, it's just a case of protecting the stock as much as possible, or giving the option of ordering another from Rolex - if it's an allocation piece (i.e. steel sports), then they would get the next one sent over

Chris

Cool thanks!!!!

[No SUBctitute]

Originally Posted by The GMT Master

As the others have said, the margins are pretty tight, and Rolex don't like dealerships that discount heavily - it undermines their luxury brand status, which is something Walmart didn't have to worry about. Anyway, any discount is at the dealer's discretion, you might find one that is willing to do more, or you might find one that is willing to do less - it's a question of what they would be happy to do

Chris

Margins are tight???

I thought that the dealer pays 60% of msrp. That's like a $12K profit on a $30K watch.

[The GMT Master]

Originally Posted by Tony-GB

Thanks very much for bringing this unpaid service back Chris. If I ever see you at a GTG I'll buy you a shandy!

Now, the ultimate question:

Can I wear my Submariner in the shower...??!!!!

Seriously, the new blue dialed Yacht-Master: It has taken off on a terrific scale- everyone loves it, but- why didn't Rolex do it much sooner? Is it the same dial that goes into the gold YM or is it a new composition like the green gold in the Hulk?

Thanks in advance

I'll have to hold you to that, Tony We're planning another London GTG in August to coincide with Raf coming over, so maybe I'll see you there!

To my knowledge, the blue dial on the new YM is just painted brass like the blue dial on the TT and 18ct YM - I haven't seen any information to the contrary. It is a nice shade of blue, but personally, I think it didn't quite work on the steel and plat YM - it hasn't stopped a lot of other people liking it though!

Chris

[The GMT Master]

Originally Posted by Casey VP-26

How about your own store, maybe a Rolex dealership.

Seems like you could handle it. Whatever you choose, Lots of luck.

I'd love that, I'm thinking of starting up my own little business as a side project. It would be great to run my own AD, if anyone wants me to take the reins of their AD, requests on a postcard to me

[The GMT Master]

Originally Posted by jimbones43

We're you a watchmaker?

Just a lowly salesman, my hands aren't steady enough to be a watchmaker!

[The GMT Master]

Originally Posted by Tiampuso

Regarding profit margins, I don't see why Rolex has an issue with an AD's profit.

What they should say is max discount is X. Not concerning themselves with an AD's profit margin or discount rate.

This ambiguity is ridiculous.

It should be up to the AD to choose whether they want to wait for a customer to pay retail, offer a percentage discount or compete w other AD's.

It's called CAPITALISM aka business!

Certainly in this country, a supplier is not allowed by law to tell anyone to sell their product for a particular price - this goes against competition law, and there have been some pretty big cases regarding this, notably BA vs. Virgin Atlantic. So by that, Rolex can't set a maximum discount rate.

I agree it should be down to the AD to decide, but by cutting margins, there's already a discouragement to discount. Rolex doesn't particularly like ADs undercutting each other as, again, it undermines the value of the brand, and the brand is the most important thing.

Rolex knows that they are more valuable to a dealer than the dealer is to Rolex, they're a great enticement and enhances the prestige of that dealership. They can pretty much ask whatever they want

Chris

[The GMT Master]

Originally Posted by No SUBctitute

Margins are tight???

I thought that the dealer pays 60% of msrp. That's like a $12K profit on a $30K watch.

In my last job, if I had factored in a 40% margin, I would have been sacked. As a percentage, watches are generally pretty stingy on margin - you can have huge margins when it comes to diamonds, for example. Add in the massive overheads of a modern jewellery shop, and the big discounts people expect on 18ct (so we're talking $6k for a 20% discount on that same $30k watch), you're not actually left with a huge amount for your $18k investment (which, on an 18ct piece, could be hanging around for months, if not years). Everyone in the jewellery biz knows that Rolex gets the customers into the store, but it's other products that make the real money

[The Joker]

Originally Posted by MonBK

It's great to see round 2 Chris.

One of the better threads on TRF.

Not as good as your word association thread Mon?

Yep good to see it back Chris, always a great read.

Chris, apart from working in sales at an AD, or being a watchmaker, what other careers would there possibly be if someone wants to work in the watch industry. We never seem to get people here on TRF that say I work for Rolex/Omega/Breitling etc.

Not sure if this is a silly question or not.

[Tiampuso]

In my opinion, since Rolex cares so much for the prestige of its brand, they should mandate better training of the sales staff that deals w Rolex at an AD.

I could count on 3 fingers the only times that I met a salesperson that knew about the brand beyond being able to take a watch out of the case. Or even being able to hold a conversation about the brand or models.

[The GMT Master]

Originally Posted by The Joker

Not as good as your word association thread Mon?

Yep good to see it back Chris, always a great read.

Chris, apart from working in sales at an AD, or being a watchmaker, what other careers would there possibly be if someone wants to work in the watch industry. We never seem to get people here on TRF that say I work for Rolex/Omega/Breitling etc.

Not sure if this is a silly question or not.

Not a silly question at all, Wes There are plenty of head office jobs that can be done for a watch company, basic admin, financial etc., and more product based ones. The big ones (which are the next step up from front line sales) are account management and visual merchandisers. The former are an ADs main point of contact, and will deal with orders, establishing how the business will move forward and generally dealing with any issues the AD might have, whilst the latter will deal with display and, quite often, product training. I'd be excited to do either of these jobs, but I think product training would be where I could deploy my knowledge to its best effect. Rolex are improving their training schemes now, but "back in my day", there was absolutely nothing, I'm almost entirely self-taught, which would explain the rather patchy levels of knowledge from dealership to dealership

All the best,

Chris

[The GMT Master]

Originally Posted by Tiampuso

In my opinion, since Rolex cares so much for the prestige of its brand, they should mandate better training of the sales staff that deals w Rolex at an AD.

I could count on 3 fingers the only times that I met a salesperson that knew about the brand beyond being able to take a watch out of the case. Or even being able to hold a conversation about the brand or models.

I totally agree, Rolex's most important points of contact are local salespeople. As in my post to Wes, although I can't comment on the state of training in other countries, it was non-existent when I was a salesman. I used TRF as my training book, and what a training book it has been

[Welshwatchman]

Originally Posted by Tiampuso

It's called CAPITALISM aka business!

Who'd have thought that it was all so easy.

[Explorador]

Thank you for offering us your time and knowledge, Chris. Very constructive.

At this moment is also on the front page of the forum the case of Andrew, who has an issue with the 3186 movement and a conflict with an AD. Perhaps he could use your advice. It`s my constructive idea to help this other member.

Thank you very much in any case, wether you have any advice for him or not.

Marcelo.

[MovieGuy]

I'll chime in here as well. I'm a current employee at a Rolex AD. I'd be happy to answer questions as well. Like Chris, I won't answer any questions that would be of a confidential nature for the store where I work or the like, but I'll also provide any other information that people may be interested in.

[Xenophon]

Great to see this thread return, Chris.

[Spartacus]

Are the DSSDs really the most immediately flipped or returned Rolex? I've heard stories on various forums that the DSSD is the most discouraged model and most buyers complain or flip within months.

Thanks!

[AnnemarieGirl]

Originally Posted by Spartacus

Are the DSSDs really the most immediately flipped or returned Rolex? I've heard stories on various forums that the DSSD is the most discouraged model and most buyers complain or flip within months.

Thanks!

Would be amazed if there is any truth to this. I think the DSSD is an amazing watch with so much history and mechanical excellence behind it etc. It is a flagship model as far as I am concerned. Add to that a £1,000 price increase last June, twice as much as other watch increases in the same period, that says it all! I was going to buy one, and should have. Not sure if I will now with the increase and if there is another increase I am quite sure I won't. AM.

[Rolexwatch]

Hi Chris, so thrilled to have the pleasure of reading round II of Ask an Insider, really.

A question for you: when I bought my DSSD last may 2012 at Madrid (Barajas airport) AD they refused to give me the hang tag along with the watch as I requested. They said they couldn't handle it to me because they should return it to Rolex after each watch sale. I said then "please, make a photocopy" and give me the original but no. As I insisted they were even willing (very courteously so) to turn the sale off, but they won't give me the tag. No and no.

So, what's the real story with this hang tag? Why is it so important to the AD? Is it that important really?

Thanks a lot my friend!

[caryyee]

Originally Posted by Rolexwatch

A question for you: when I bought my DSSD last may 2012 at Madrid (Barajas airport) AD they refused to give me the hang tag along with the watch as I requested. They said they couldn't handle it to me because they should return it to Rolex after each watch sale. I said then "please, make a photocopy" and give me the original but no. As I insisted they were even willing (very courteously so) to turn the sale off, but they won't give me the tag. No and no.

So, what's the real story with this hang tag? Why is it so important to the AD? Is it that important really?

That's weird, my AD has included the hang tags for every one of my purchases.

[Reese's TimePieces]

Originally Posted by Rolexwatch

Hi Chris, so thrilled to have the pleasure of reading round II of Ask an Insider, really.

A question for you: when I bought my DSSD last may 2012 at Madrid (Barajas airport) AD they refused to give me the hang tag along with the watch as I requested. They said they couldn't handle it to me because they should return it to Rolex after each watch sale. I said then "please, make a photocopy" and give me the original but no. As I insisted they were even willing (very courteously so) to turn the sale off, but they won't give me the tag. No and no.

So, what's the real story with this hang tag? Why is it so important to the AD? Is it that important really?

Thanks a lot my friend!

Originally Posted by caryyee

That's weird, my AD has included the hang tags for every one of my purchases.

Same here.

[adamlea]

Thanks for all of your time and effort Chris. I read the first thread cover to cover and have been enjoying this one as well.

[Lew Archer]

Thanks, Chris...I enjoy your astute observations and appreciate your insight...

[MovieGuy]

Originally Posted by Rolexwatch

A question for you: when I bought my DSSD last may 2012 at Madrid (Barajas airport) AD they refused to give me the hang tag along with the watch as I requested. They said they couldn't handle it to me because they should return it to Rolex after each watch sale. I said then "please, make a photocopy" and give me the original but no. As I insisted they were even willing (very courteously so) to turn the sale off, but they won't give me the tag. No and no.

So, what's the real story with this hang tag? Why is it so important to the AD? Is it that important really?

Thanks a lot my friend!

Nothing is returned to Rolex when a watch is sold. No idea why they wouldn't give you the tag. I always encourage my customers to take and keep as much of the original items as possible to help with potential resale.

[MST.]

Originally Posted by Rolexwatch

Hi Chris, so thrilled to have the pleasure of reading round II of Ask an Insider, really.

A question for you: when I bought my DSSD last may 2012 at Madrid (Barajas airport) AD they refused to give me the hang tag along with the watch as I requested. They said they couldn't handle it to me because they should return it to Rolex after each watch sale. I said then "please, make a photocopy" and give me the original but no. As I insisted they were even willing (very courteously so) to turn the sale off, but they won't give me the tag. No and no.

So, what's the real story with this hang tag? Why is it so important to the AD? Is it that important really?

Thanks a lot my friend!

Knowing how much people will pay for these it almost makes me wonder whether that particular AD or someone working there has a sideline in selling such items on eBay etc. or perhaps I'm just being too much of a cynic.