Buyers Remorse on BLRO purchase from dealer

[brucethemanlee]

Buyers remorse not because you paid over retail but because the wife said NO

[schoolboy]

Originally Posted by 1kw

This was not a grey dealer but a authorized Rolex dealer which is one of the things that bothers me. That and the fact he didn’t give me a receipt. Just a filled out warranty card and a pending appraisal.

What?

I thought it was gray. I don’t think THAT is legal.

[masterserg]

Crazy story. I am glad it worked out for you, however I must say I hate the hobby nowadays.

PS, next time maybe check with the wife before

[schnipples24]

To all those saying how weird it is that an AD would behave in this way, that they can't BELIEVE ADs would sell at above retail/MSRP....

They did not.

Re-read OP original post, he paid $6800.00 plus traded in his GMT.
The AD only got $6800.00 cash money in the deal.

They technically did not violate any policy. Scummy, potentially. But I don't see any issue from the side of the AD. They did not force OP to take the deal. It's like if you were to go into a pawn shop, and they offer you 3k for your complete package SubC ND. If you are desperate for the money you can take the cash, but they won't force you to sell. OP wanted the BLRO and took the deal, buyers remorse is real, he got it sorted out.

Not sure where I'm going with this, happy OP is happy and got this resolved.

[Annan]

OP: Glad to hear you will be able to return the watch. Regardless of all the various pros and cons of this deal, the one issue that remains for me is that the AD sold a Rolex above MSRP. And he tried to conceal the sale from Rolex by not issuing a receipt?? Personally I would do two things: (1) report this AD to Rolex and (2) never do business there again.

[Topspin14m]

Originally Posted by peterpl

Yep - its all bullshit. None of these SS watches are rare or honestly are they THAT special? I think not and lets not pretend here. I've owned pretty much every single Rolex model over the years and there is not a single Rolex I feel is worth 2x MSRP nowhere near it.

It will all die down sooner or later and prices will correct. You just need to make sure you dont get caught up in the hype like you did. Like I said before lesson learnt.

They are rare vis-a-vis demand, which is all that matters. If every AD put them in a case tonight, the world supply would sell out by noon tomorrow. Rolex is artificially restricting supply to create this frenzy. Just the way it is.

[Topspin14m]

Originally Posted by Annan

OP: Glad to hear you will be able to return the watch. Regardless of all the various pros and cons of this deal, the one issue that remains for me is that the AD sold a Rolex above MSRP. And he tried to conceal the sale from Rolex by not issuing a receipt?? Personally I would do two things: (1) report this AD to Rolex and (2) never do business there again.

Rolex doesn’t care.

[1kw]

Originally Posted by schnipples24

To all those saying how weird it is that an AD would behave in this way, that they can't BELIEVE ADs would sell at above retail/MSRP....

They did not.

Re-read OP original post, he paid $6800.00 plus traded in his GMT.
The AD only got $6800.00 cash money in the deal.

They technically did not violate any policy. Scummy, potentially. But I don't see any issue from the side of the AD. They did not force OP to take the deal. It's like if you were to go into a pawn shop, and they offer you 3k for your complete package SubC ND. If you are desperate for the money you can take the cash, but they won't force you to sell. OP wanted the BLRO and took the deal, buyers remorse is real, he got it sorted out.

Not sure where I'm going with this, happy OP is happy and got this resolved.

Yes nobody forced me to do the deal and yes the dealer could claim he never sold over MSRP just offered me very little money for my trade. I am not looking to report anybody to Rolex so it doesn't matter. In reality I know my trade was 10 k and so does everyone on this thread. There was no receipt given only that he was going to write an appraisal for 20 k . Thanks for all the opinions, hopefully I helped prevent someone else from making this mistake.

[TempoKing]

@ 1Kw.....Clear your messages box , tried to pm you but won’t go through

I don’t know how old was your 116713 but he paid you fair value
Now if the wife is not happy ....sell the Pepsi with the jubilee bracelet (?)
Many buyers will be happy to pay $16.000

[Boaters]

Originally Posted by 1William

I think when you talk to the AD this morning you should thank him for working with you and selling you a very hot watch that you love. This is only going to make a situation where you are feeling, an I emphasis "feeling", some remorse, worse. The remorse is over the money, not the watch. You went home and unloaded on the wife and she can not process the deal or the watch so now you have her on you. You are an adult who knowingly made a deal for a watch, great watch also, live with it. The numbers are not crazy for your trade and the watch you got. Wear it and enjoy it. Disregard the advice of going to Rolex or other action against the AD. This is the Rolex world we live in. If you handle this well with the AD you may actually get on a list for another watch you want and get it delivered. You are now a paying customer not just a tire kicker. Stop with the silliness, check your emotions and move on. And I almost forgot, wear your watch as it is great. Just my thoughts.

Perfect

[eltonbalch]

Originally Posted by Topspin14m

They are rare vis-a-vis demand, which is all that matters. If every AD put them in a case tonight, the world supply would sell out by noon tomorrow. Rolex is artificially restricting supply to create this frenzy. Just the way it is.

Rolex is not “artificially” restricting supply. I fully believe they are manufacturing/distributing at their current capacity. Rolex is simply(and wisely) electing not to significantly expand capacity and are hedging their bets in the event of a significant industry downturn. I’m sure they are happy about the favorable sales environment.

[Alpino]

Originally Posted by 1kw

... a friend ...

A good friend obviously

[1kw]

Originally Posted by eltonbalch

Rolex is not “artificially” restricting supply. I fully believe they are manufacturing/distributing at their current capacity. Rolex is simply(and wisely) electing not to significantly expand capacity and are hedging their bets in the event of a significant industry downturn. I’m sure they are happy about the favorable sales environment.

I used to believe this as well but the dealer clearly said they have them in the safe ie blue sky dwellers, stainless Daytona's . You have to pay over retail to get one or buy a bunch other stuff so they can make the same profit. There is no shortage, its all fake.

[maxymax]

Originally Posted by 1kw

Yes nobody forced me to do the deal and yes the dealer could claim he never sold over MSRP just offered me very little money for my trade. I am not looking to report anybody to Rolex so it doesn't matter. In reality I know my trade was 10 k and so does everyone on this thread. There was no receipt given only that he was going to write an appraisal for 20 k . Thanks for all the opinions, hopefully I helped prevent someone else from making this mistake.

OP, glad that everything worked out fine for you. Hope your wife is happy now
Oh yeah, your story again emphasized the fact that NO in-production ROLEX is worth a $ more than it’s MSRP (+taxes) PERIOD

[1kw]

Originally Posted by maxymax

OP, glad that everything worked out fine for you. Hope your wife is happy now
Oh yeah, your story again emphasized the fact that NO in-production ROLEX is worth a $ more than it’s MSRP (+taxes) PERIOD

EXACTLY . I wish everyone would learn this and we might have a chance of paying retail again.

[platinum574]

So this was not an Authorized Dealer? They are bound by contract to sell at MSRP, not above. If they are a true AD they are playing a dangerous game. I would return the watch given what you gave him to get it.

[platinum574]

Originally Posted by Topspin14m

Rolex doesn’t care.

wrong!

[zewill]

So, knowing the Grey AD (LOL) told you to bring it back, did you?
What where the terms? Did you get your trade-in back?
Scummy practices here from an AD. I would probably let rolex know...
IMHO AD's should not be allowed to do trade-ins and sell used pieces. Could lead to customer confusion and those kind of shenanigans

[Chewbacca]

Please tell your wife you bought a motorcycle and video her reaction. Make sure she’s holding a wooden spoon first.

You’ll make millions on the tube.

[Uggi]

Originally Posted by TswaneNguni

I will buy a BLRO at MRSP from an AD and that is that .

Great that the market thinks its worth so much,but I am with Rolex and agree its worth MRSP.

Do you mean the watch is worth the current MSRP of £7,150 and that is your maximum ceiling on price or do you mean you'd pay whatever Rolex set as MSRP because you agree with their pricing structure?
If Rolex set the MSRP at £9,500 (for eg) would you buy at that price from an AD? How about £7,200?
Just curious.

[maxymax]

Originally Posted by Chewbacca

Please tell your wife you bought a motorcycle and video her reaction. Make sure she’s holding a wooden spoon first.

You’ll make millions on the tube.

[Rsubnodate]

Originally Posted by Swaye

The part that is troubling me is that ADs are doing this? I mean, yay capitalism and all that, but this feels like (hell it doesn't just feel like it, it was) a grey market transaction from an AD.

I have purchased from grays. I'm cool with that. I have purchased from ADs. I'm cool with that. But when ADs BECOME grays, I guess I'm not comfortable with that yet.

This market has blurred so many lines.

This ^^

[AK797]

Originally Posted by Topspin14m

Rolex doesn’t care.

Rolex do care or all ADs would sell at around market price and suddenly Rolex make far less profit than these mere distributors. No self-respecting business will tolerate this idea or the damage these wild west prices will do to the brand.

[Topspin14m]

Originally Posted by platinum574

wrong!

Is there an AD that has been sanctioned for this behavior?

[Topspin14m]

Originally Posted by AK797

Rolex do care or all ADs would sell at around market price and suddenly Rolex make far less profit than these mere distributors. No self-respecting business will tolerate this idea or the damage these wild west prices will do to the brand.

The ADs are all selling to grays and/or attaching conditions to the sale of watches or pretending they are used and marking them up. If Rolex really cared, they’d do something. The scarcity benefits their brand. Sure if you complain, they'll write you a nice letter...

[Juantxo]

The missus is always right. I paid $9,250 -no tax- for mine. Why would you pay so much more for yours? It’s just a watch.

[Topspin14m]

Originally Posted by eltonbalch

Rolex is not “artificially” restricting supply. I fully believe they are manufacturing/distributing at their current capacity. Rolex is simply(and wisely) electing not to significantly expand capacity and are hedging their bets in the event of a significant industry downturn. I’m sure they are happy about the favorable sales environment.

Could the person who makes Lady DJs that don’t sell make more Hulks instead? If so, they are restricting supply below their capacity. They are making a choice to do that for many reasons. Many savvy. But, it’s not that they can’t do more to meet demand. They are a luxury brand - scarcity increases the value of their brand. The downturn is irrelevant. They’d sell all the watches before any downturn hit. A 2x price on Daytonas suggests that if they made double what they do now, they’d all sell out immediately.

[jvb.nc]

Originally Posted by Topspin14m

How is it any more unethical than what all of the ADs do, which is to hide their stock and only sell it to people who spend $50, $100+k on watches?

not all ADs do that. painting with broad brush strokes and generalizing is lame.

just sayin.

[Topspin14m]

Originally Posted by jvb.nc

not all ADs do that. painting with broad brush strokes and generalizing is lame.

just sayin.

There are 1000 people logged into this forum at any given time. How many stories have you heard of a customer walking into an AD in 2019, asking for any of these hot SS watches and just walking out? Or getting a firm commitment that one will be ordered for them? Almost never happens. “Build a relationship” means buy stuff - that’s been detailed on many threads here. So yes - almost all dealers do this, if not all. It may not be an explicit quid pro quo, but that’s not the point. In fact, if you realistically want the watch, you have to spend a lot of money. I’m not making a an argument that these are bad people. I’m not even sure what the fair alternative is given the supply constraints. This is just what is happening, so MSRP isn’t a real thing.

[rajurama]

I feel the OP will once again have a Returns Remorse as he actually kicked a very good fair deal... Good luck having your next Pepsi if ever... All I learnt from this thread is I buy my watches with my own money and not joint finances.