Buying 100K in jewelry to get a Rolex?

[febie111]

I am in it for the appreciation of watches and my Rolex AD knows this..I am pushing 60 years old and have worn a watch since the 3rd grade.

These watches should be made available in a fair and honest way..Below are comments that were posted elsewhere and I agree,at least it would make me feel better about my supposed luxury watch buying experience.



Centralized. Global. Wait. List. ... is something Rolex need to implement. Simple as that.

Here's how it should work:
You go to your AD, ask to be put on the wait list for a particular model, they open an account for you and put you on Rolex's central wait list and you get a reference number.

You can log on to Rolex, and look up your position on the list. Totally transparent.
When you get to the top of the list, they send your watch to your designated AD.
You're allowed to be on the wait list for only one item at a time. Then you get a 6 month cooldown period before you're allowed to go on the wait list for another model.

Simple.

No games. No buying stuff you don't want. No mucking around trying to sweet talk your AD. This would cut through all the BS.

Sure they'd need a way to ensure one person can't open more than one account and other such anti-flipper measures.

But trying to empower ADs just isn't working and turns the entire purchasing process into a total joke.

[Yess]

Surely the 100k idea is a little dependent on the watch?

I have bought three SS Rolex from three different ADs. A Rolex is the only thing I have purchased from any of them.

[bluestreak]

Originally Posted by febie111

I am in it for the appreciation of watches and my Rolex AD knows this..I am pushing 60 years old and have worn a watch since the 3rd grade.

These watches should be made available in a fair and honest way..Below are comments that were posted elsewhere and I agree,at least it would make me feel better about my supposed luxury watch buying experience.



Centralized. Global. Wait. List. ... is something Rolex need to implement. Simple as that.

Here's how it should work:
You go to your AD, ask to be put on the wait list for a particular model, they open an account for you and put you on Rolex's central wait list and you get a reference number.

You can log on to Rolex, and look up your position on the list. Totally transparent.
When you get to the top of the list, they send your watch to your designated AD.
You're allowed to be on the wait list for only one item at a time. Then you get a 6 month cooldown period before you're allowed to go on the wait list for another model.

Simple.

No games. No buying stuff you don't want. No mucking around trying to sweet talk your AD. This would cut through all the BS.

Sure they'd need a way to ensure one person can't open more than one account and other such anti-flipper measures.

But trying to empower ADs just isn't working and turns the entire purchasing process into a total joke.

1) Why in the world would Rolex sign themselves up for this headache when they are selling watches like hotcakes?

2) what company that sells in-demand luxury goods allocates product in this manner?

[DG123]

Originally Posted by HMHM

Exactly! So these people are in it for the gains, not for the appreciation of watches. It has nothing to do with ADs being pissed poor at their service, but rather they are denying these people a chance to make a quick buck and they are raging left right and centre because of that.

These days, a lot of watches are hype up to the t*TS but generally a lot of watches are also really great on its own. People are just too blinded by $$ to see it.

I believe some sell within a year or two for a 20% to 200% profit. Others have no intention of selling but simply are thrilled to have paid MSRP for something that is worth much more than MSRP.
There are some sensational brands which produce incredible watches, but I believe it is only Rolex stainless Submariner, GMT, and Daytona which offers the immediate $5,000 to $25,000 profit-above-MSRP.

[fskywalker]

Originally Posted by DG123

There are some sensational brands which produce incredible watches, but I believe it is only Rolex stainless Submariner, GMT, and Daytona which offers the immediate $5,000 to $25,000 profit-above-MSRP.

Think there are a few Patek, A/P , VC etc watches that fall in that category as well.


Sent from my iPhone using Tapatalk Pro

[BayAreaTech]

Originally Posted by padi56

Anyone buying anything extra just to buy a Rolex watch must have more money than sense, or sixpence short of a shilling.

This is absolute truth ^^. I have spent more than on Jewelery at my AD, though on my own choice alone, not to get a "hot watch". This was over a number of years of course. Also true that most pieces absolutely lose money in the short / long term (Outside hype watches, vast majority of Patek are -30-50% MSRP on the grey market for example after 5 years). Only a few models have enduring value. Therefore buy what you love. It is not an investment.

[BayAreaTech]

Originally Posted by febie111

I
Centralized. Global. Wait. List. ... is something Rolex need to implement. Simple as that.

Here's how it should work:
You go to your AD, ask to be put on the wait list for a particular model, they open an account for you and put you on Rolex's central wait list and you get a reference number.

Would not work. The spammers / resellers would flood the list with fake accounts. Take up all of the available pieces. No real customer would attain one.

Moreover bad business sense with the AD relationship fronting the cash for the boutique. Has to be some upside for them to be a reseller and managing the customer relationship.

See rat tails, cobra effects, Goodharts law. https://en.wikipedia.org/wiki/Goodhart%27s_law

[Halifax Daytona UK]

There will be someone of here who will say “ my better half like the AD’s overpriced jewellery “ so we spent the $100k, but getting them to admit it is another thing

[Moondoggy]

I wouldn't spend a dollar extra to get any Rolex. Total madness no matter how full your ashtray is.

[minute_man]

Originally Posted by padi56

Anyone buying anything extra just to buy a Rolex watch must have more money than sense, or sixpence short of a shilling.

Originally Posted by Moondoggy

I wouldn't spend a dollar extra to get any Rolex. Total madness no matter how full your ashtray is.

Preach!

I just can't stomach being taken advantage of. If I can get the piece I desire from the AD at retail, great. If I can't, I just move on. There are far more important things in life than a watch that I don't need. ADs however, will always need to sell to make a living. Let's not forget that.

[SamArj]

Originally Posted by febie111

I am in it for the appreciation of watches and my Rolex AD knows this..I am pushing 60 years old and have worn a watch since the 3rd grade.

These watches should be made available in a fair and honest way..Below are comments that were posted elsewhere and I agree,at least it would make me feel better about my supposed luxury watch buying experience.



Centralized. Global. Wait. List. ... is something Rolex need to implement. Simple as that.

Here's how it should work:
You go to your AD, ask to be put on the wait list for a particular model, they open an account for you and put you on Rolex's central wait list and you get a reference number.

You can log on to Rolex, and look up your position on the list. Totally transparent.
When you get to the top of the list, they send your watch to your designated AD.
You're allowed to be on the wait list for only one item at a time. Then you get a 6 month cooldown period before you're allowed to go on the wait list for another model.

Simple.

No games. No buying stuff you don't want. No mucking around trying to sweet talk your AD. This would cut through all the BS.

Sure they'd need a way to ensure one person can't open more than one account and other such anti-flipper measures.

But trying to empower ADs just isn't working and turns the entire purchasing process into a total joke.

Absolute genius. Give the guy who came up with that a Nobel Prize for Economics.

Please also inform Ferrari, Hermes, Porsche (on their GT models) to operate a similar system and let me know how you get on.
The revolution starts now dude

[SamArj]

Originally Posted by Devildog

Yep. When you can buy an unworn SS Daytona for $35,000.

It makes no sense. You'll be losing twice the grey mark up on the Daytona buying $100k worth of jewellery you don't want.

If an AD said to me that I had to spend that kind of money to be allocated a hot SS sports Rolex I'd tell him to shove it and that I'd simply spend wayyyy less and buy from a reseller.

I don't know anyone personally who has dropped that kind of money. However those that do aren't stupid. They aren't just after a single SS Daytona. They are probably the people who get the meterorite dials, gem set etc models like Rainbows, Eye of the Tiger type models.
These models will see you get your $100k back and some.

[RogerOP]

Ignore.

[Nav01L]

In earnest though, why do folks think in such simplistic dimensions, reducing the notion of „relationship“ to „turnover generated“?

Last I checked, we’re all humans and the very reason we spend money on jewelry at all, whether on watches or otherwise, is something we do for social reasons much more than as a means to an economic end.

Why would the AD relationship be any different? Why is it „I spend just less on things to buy the AD‘s favor than it would cost me to purchase X on the grey market“? Honestly, if that’s how you approach your AD, mentally reducing them to that evil automat who just wants your money, no wonder they will treat you that way.

What about their humanity? What about the fact they got into their career out of the same passion you may have? What about the fact that time spent with them talking watches might well be equally enjoyable to the times you actually walk out of their shop with a new one?

I have three different Rolex ADs I regularly visit, all of them I hardly ever buy anything from, seeing as I too have economic constraints, but all of whom I greatly enjoy spending some time with. They’re very interesting people with very interesting careers and insights. The same is true with another jeweler who made our wedding set and carries some other watch brands. Over time, these folks have actually become friends, from a human perspective much more than from an economic one. Yes we are happy returning customers, why would we go anywhere else, but first and foremost, we’re folks that enjoy having lunch with them every now and then, checking in on how it’s going, how the kids are, etc.

Against that background, I actually deliberately avoid requesting certain watches because I don’t want to break those friendships by abusing them for self serving purposes.

If we could all just go back to that, perhaps we’d all get back to being offered the watches we covet in a very organic manner too. Just a thought.

[Henrimontgomery]

The truth is nobody knows a damn thing. This isn’t shipping and trade law with internationally distributed reference books.

I could spend 1 million with Bucherer and not get a TT Daytona, and couldn’t do a thing about it.

There is no threshold, there is no inflexion point where the AD HAS or MUST give you anything.

[thai watch]

Depends on location. Buying a couple watches and an engagement ring might get you across the line in a small market and $150k in a big one like NYC.

[ol' Rex]

Originally Posted by Nav01L

In earnest though, why do folks think in such simplistic dimensions, reducing the notion of „relationship“ to „turnover generated“?

Last I checked, we’re all humans and the very reason we spend money on jewelry at all, whether on watches or otherwise, is something we do for social reasons much more than as a means to an economic end.

Why would the AD relationship be any different? Why is it „I spend just less on things to buy the AD‘s favor than it would cost me to purchase X on the grey market“? Honestly, if that’s how you approach your AD, mentally reducing them to that evil automat who just wants your money, no wonder they will treat you that way.

What about their humanity? What about the fact they got into their career out of the same passion you may have? What about the fact that time spent with them talking watches might well be equally enjoyable to the times you actually walk out of their shop with a new one?

I have three different Rolex ADs I regularly visit, all of them I hardly ever buy anything from, seeing as I too have economic constraints, but all of whom I greatly enjoy spending some time with. They’re very interesting people with very interesting careers and insights. The same is true with another jeweler who made our wedding set and carries some other watch brands. Over time, these folks have actually become friends, from a human perspective much more than from an economic one. Yes we are happy returning customers, why would we go anywhere else, but first and foremost, we’re folks that enjoy having lunch with them every now and then, checking in on how it’s going, how the kids are, etc.

Against that background, I actually deliberately avoid requesting certain watches because I don’t want to break those friendships by abusing them for self serving purposes.

If we could all just go back to that, perhaps we’d all get back to being offered the watches we covet in a very organic manner too. Just a thought.

Spoken like a true gentleman.

[Emily]

Dealers string along hopefuls with vague language and vague promises of future Rolex payoffs if you "just buy a bit more"

[Devildog]

Originally Posted by SamArj

I don't know anyone personally who has dropped that kind of money. However those that do aren't stupid. They aren't just after a single SS Daytona. They are probably the people who get the meterorite dials, gem set etc models like Rainbows, Eye of the Tiger type models.
These models will see you get your $100k back and some.

Agreed mate.

But its entirely understandable why an AD would leverage the current demand to increase turnover and profit across their business. It used to be called incentivisation.

There seems to be an overriding sense of entitlement amongst many consumers these days that goes beyond mere frustration.

A retailer can impose whatever conditions they see fit. If we, the consumers, have those conditions imposed and don't like them, we are free to walk away, straight into the reseller market where there are no conditions, no games, just a higher price. If that's affordable, great. If not, chose a different brand

[Devildog]

Originally Posted by Nav01L

In earnest though, why do folks think in such simplistic dimensions, reducing the notion of „relationship“ to „turnover generated“?

Last I checked, we’re all humans and the very reason we spend money on jewelry at all, whether on watches or otherwise, is something we do for social reasons much more than as a means to an economic end.

Why would the AD relationship be any different? Why is it „I spend just less on things to buy the AD‘s favor than it would cost me to purchase X on the grey market“? Honestly, if that’s how you approach your AD, mentally reducing them to that evil automat who just wants your money, no wonder they will treat you that way.

What about their humanity? What about the fact they got into their career out of the same passion you may have? What about the fact that time spent with them talking watches might well be equally enjoyable to the times you actually walk out of their shop with a new one?

I have three different Rolex ADs I regularly visit, all of them I hardly ever buy anything from, seeing as I too have economic constraints, but all of whom I greatly enjoy spending some time with. They’re very interesting people with very interesting careers and insights. The same is true with another jeweler who made our wedding set and carries some other watch brands. Over time, these folks have actually become friends, from a human perspective much more than from an economic one. Yes we are happy returning customers, why would we go anywhere else, but first and foremost, we’re folks that enjoy having lunch with them every now and then, checking in on how it’s going, how the kids are, etc.

Against that background, I actually deliberately avoid requesting certain watches because I don’t want to break those friendships by abusing them for self serving purposes.

If we could all just go back to that, perhaps we’d all get back to being offered the watches we covet in a very organic manner too. Just a thought.

I don't disagree, however not all ADs are created equal, sadly. Also, if everyone approached it as you have done and befriended the AD in some way shape or form, then it's back to square 1 as you no longer have the USP as the consumer.

[VerticalClutch]

Originally Posted by febie111

I am in it for the appreciation of watches and my Rolex AD knows this..I am pushing 60 years old and have worn a watch since the 3rd grade.

These watches should be made available in a fair and honest way..Below are comments that were posted elsewhere and I agree,at least it would make me feel better about my supposed luxury watch buying experience.



Centralized. Global. Wait. List. ... is something Rolex need to implement. Simple as that.

Here's how it should work:
You go to your AD, ask to be put on the wait list for a particular model, they open an account for you and put you on Rolex's central wait list and you get a reference number.

You can log on to Rolex, and look up your position on the list. Totally transparent.
When you get to the top of the list, they send your watch to your designated AD.
You're allowed to be on the wait list for only one item at a time. Then you get a 6 month cooldown period before you're allowed to go on the wait list for another model.

Simple.

No games. No buying stuff you don't want. No mucking around trying to sweet talk your AD. This would cut through all the BS.

Sure they'd need a way to ensure one person can't open more than one account and other such anti-flipper measures.

But trying to empower ADs just isn't working and turns the entire purchasing process into a total joke.

You can’t tell your best customers they are not important in any business.

[Charlie46]

Hey guys, first post so go easy

So fwiw from my side, spending money at an AD doesn't always go your way.
Over the last year I've wanted to build up a few other nice non-rolex pieces in my collection, so I picked those up after I bought a 31mm Datejust for my wife early in the year.
A few months past, and I got a call for a SS sports model I'd been after myself for a long time, so I was happy. I had things like family birthdays and christmas come up, so I bought a few items of jewellery too, last purchase being in Feb this year.

All in all, a very considerable spend in a 12 month period for a relatively average guy.
I'm on the "list" for a couple more pieces, but I was told that I can't have anything else for a whole year, as my 2 watch allocation has been done, despite one of them being for my wife... great news.

Eventually a year past early this year, and not a peep from them. I've been in contact and shown my face in there, but they dont seem at all keen now to offer me anything else. Feeling rather disheartened if I'm honest.

[SLWoodster]

YMMV. You’re basically buying to climb over other people who want one.

[DG123]

This thread has me thinking about the Las Vegas high rollers who blow $100,000 at the black jack tables to get comped a "free room" at Caesars Palace.

[Travis29]

$0 jewelry spend- 5 watches in 4 yrs. Offered a bunch of others too.

[Pop Art Suzy]

Even if I had $100k, I wouldn't spend it all on jewelry just to get a Rolex. That's silly. I'd just spend the extra money and go grey (which wouldn't equate to $100k anyway) than deal with a greedy AD.

[SamArj]

Originally Posted by Nav01L

In earnest though, why do folks think in such simplistic dimensions, reducing the notion of „relationship“ to „turnover generated“?

Last I checked, we’re all humans and the very reason we spend money on jewelry at all, whether on watches or otherwise, is something we do for social reasons much more than as a means to an economic end.

Why would the AD relationship be any different? Why is it „I spend just less on things to buy the AD‘s favor than it would cost me to purchase X on the grey market“? Honestly, if that’s how you approach your AD, mentally reducing them to that evil automat who just wants your money, no wonder they will treat you that way.

What about their humanity? What about the fact they got into their career out of the same passion you may have? What about the fact that time spent with them talking watches might well be equally enjoyable to the times you actually walk out of their shop with a new one?

I have three different Rolex ADs I regularly visit, all of them I hardly ever buy anything from, seeing as I too have economic constraints, but all of whom I greatly enjoy spending some time with. They’re very interesting people with very interesting careers and insights. The same is true with another jeweler who made our wedding set and carries some other watch brands. Over time, these folks have actually become friends, from a human perspective much more than from an economic one. Yes we are happy returning customers, why would we go anywhere else, but first and foremost, we’re folks that enjoy having lunch with them every now and then, checking in on how it’s going, how the kids are, etc.

Against that background, I actually deliberately avoid requesting certain watches because I don’t want to break those friendships by abusing them for self serving purposes.

If we could all just go back to that, perhaps we’d all get back to being offered the watches we covet in a very organic manner too. Just a thought.

I wonder if the ADs are scratching their heads as to why you keep popping in to ask about their kids if you aren't buying anything

[amh]

Originally Posted by SamArj

I wonder if the ADs are scratching their heads as to why you keep popping in to ask about their kids if you aren't buying anything

Probably not that mysterious. "Heads up everyone, free lunch incoming!"

[Nav01L]

Originally Posted by SamArj

I wonder if the ADs are scratching their heads as to why you keep popping in to ask about their kids if you aren't buying anything

Probably in the same way your colleagues from work scratch their heads when you invite them to your house to have a few beers and watch the game, all without paying them for extra time. People can do things because they’re fun, money makes that easier sometimes, because you can buy everybody dinner, but it’s not an end to itself, nor is it a substitute for social interaction.

[Nav01L]

Originally Posted by amh

Probably not that mysterious. "Heads up everyone, free lunch incoming!"

Clearly we have very different experiences when we go for lunch with our ADs.