Rolex Greys Pressuring David Khalil For Exposing Inflated Grey Pricing

[Akkis]

Originally Posted by Francist

He’s a merchant.
Nobody should believe what a merchant says.
Especially if it’s about his business.
He’s just trying to earn followers / customers.

He is a merchant and of course does have his own intentions by releasing the video he did but to be fair to him he did post a video telling "potential customers" which watches to not pay a premium and go buy from an AD, etc.

While I would be hesitant of some things he talks about, that was a very helpful video for a lot of people and probably saved a few people cash along the way so for that I give him credit.

[Mystro]

Originally Posted by Krash

There needs to be a catalyst or some sort of an event to trigger a collapse in the luxury watch market.

If the Dow Jones and S&P 500 drop 50% with no recovery in sight and there is indeed another pro-longed real estate collapse that triggers a global depression, then that could trigger a collapse in the luxury watch market.

We just went through a global pandemic and the global economy was literally shut down for a year, and that still wasn’t enough to cool down the luxury watch market.


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My gut says the “fad” will run its course as they all do and the non-enthusiast will move on to the next interest. At that point there will be significantly more breathing room with product availability.

[SN13]

Originally Posted by duquephart

I can. Mainly because you can do it every day if you choose to buy a watch rather than hype.

Yep.

Buy a Decent Omega or Breitling and you get 20-30% off right up front from all the Greys NIB

[Posh Gentleman]

Originally Posted by Screwly

I totally agree with the preferring my GMT over my Daytona!!!

yea. I think SS Daytona may be one of the most overrated and over hyped watches on the planet.

Hype begets more hype, which begets more hype...

Besides SS Daytona tho, most other Rolex SS models are within reach for many serious watch buyers. Maybe Hulk is another exception as it's been discontinued and hyped crazy, but Hulk is ugly as $hit and I have no issue not owning one myself. lol

I don't understand all this angst over Rolex grey prices. If you limit your search to a Black SS Sub, you can get one rather easily and affordably if you know how to shop around.

things only get crazy when you "must" have a SS Daytona, or maybe a Hulk.

[Fleetlord]

Of course the greys are charging a premium on all unworn Rolex they obtain, especially because when they get those watches as part of their bulk order from the AD they work with, those references aren’t offered at any discount anymore, so they have to mark up from retail.

The UK market is all over the place in terms of opinion about availability and valuation.

I saw a video posted by some younger luxury blogger in UK in which he was trying to sell a fairly new TT Daytona.

One dealer, older stodgy place, said oh…we can get those…no problem. Offered 10k pounds.

Other place, newer upscale joint, said…oh Yeah these are good sellers and hard to source. Offered 14k pounds. Big difference!

I also don’t know why he is saying the SD43 in undervalued unless he is sitting on a bunch thinking the red text was gonna change and he can’t wait anymore for them to hatch..lol

[rmwill]

The wealthy became wealthtier.

Originally Posted by Krash

We just went through a global pandemic and the global economy was literally shut down for a year, and that still wasn’t enough to cool down the luxury watch market.

[Krash]

I don't see how anyone can conclude what % of Rolex watches end up on the grey market.

Also, I sort of cringe when people say that Rolex watches are readily available and there is plenty of supply. All you have to do is look online and there are thousands of watches available, blah, blah, blah...

My definition of Rolex watches being readily available is a Submariner in the display case at every AD in the world. The Omega Speedmaster and Seamaster watches are immensely popular, but you can still walk into any AD or boutique and actually see and try one on.

[turkeysub93]

I cannot wrap my head around the fact that people make watch videos on youtube as a career...

[1665fan]

Originally Posted by turkeysub93

I cannot wrap my head around the fact that people make watch videos on youtube as a career...

I agree....and videos or shows about flipping watches....what a joke

[vh2k]

Originally Posted by turkeysub93

I cannot wrap my head around the fact that people make watch videos on youtube as a career...

Originally Posted by 1665fan

I agree....and videos or shows about flipping watches....what a joke

Just because one doesn’t understand or like something... that doesn’t negate the legitimacy or feasibility of its existence.

Some don’t understand tennis or country music or scary movies. Nobody is forcing you to enjoy or like those things.

[vh2k]

Originally Posted by Krash

I don't see how anyone can conclude what % of Rolex watches end up on the grey market.

True, but we can use data and math to estimate.

Too often, someone says 50-75% (and others have said 95%) of new Rolexes are immediately backdoored to the grey market. That is utter nonsense and the data clearly demonstrates the figure is actually a tiny fraction.

[Brny11]

Originally Posted by Calatrava r

The demand far outpaces supply so I doubt there will be much softening in the foreseeable future. I never saw mechanical watches doing so well. I thought wearable devices would end the industry, but I was wrong.

The real question is what makes up the demand? Is it people who want a Rolex, people who want to have what others want, speculators who know very little other than $$$, or a mix. Safe to assume a mix. However, if the mix is 5-10% Rolex fans and 90-95% of the rest (as it was before 2016), than if the 5-10% is greater than supply, prices will be stable, if that small subset is less than supply, the price may be quite volatile.

I do think that smart tech has impacted the market share, and still to be seen if it completely eradicates mechanical watches. Rolex is still jewelery in the end of day and a status symbol which is appealing in society - however, g-shocks and apple watches are now status symbols and collectible in the younger generations which is also threatening to the industry.

Interesting times.

[1665fan]

Originally Posted by vh2k

Just because one doesn’t understand or like something... that doesn’t negate the legitimacy or feasibility of its existence.

Some don’t understand tennis or country music or scary movies. Nobody is forcing you to enjoy or like those things.

Not that I don’t understand it, just think it’s stupid.....I can make a video saying buy a Pepsi, buy a daytonA, buy a sub.......but I don’t do stupid things like that lol

I don’t need idiot sheep followers on YouTube to pay my bills.....and I have multiple Pepsi’s, daytonas, subs and whatever you can think of

[Rado63]

You have to notice that the you tube videos with the most views are mostly Rolex content videos. There are so many amazing watches out there from other brands. Make a video about a Grand Seiko, Parmegini Fleurier, Girard Peregaux, Certina, Zenith, you won't have very many viewers. This watch hobby has become a pursuit of Rolex watches or Pateks, or AP's. It's not about horology or technology and it isn't even about value or pedigree. It is about I want a Rolex , Rolex and more Rolex. Youtubers want views and subscribers, and likes. So they will keep talking anything Rolex because so many people can't stop watching and listening to anything Rolex.

[Savwar]

It is from the crazy demand, while other brands are yearning for attention.

[vh2k]

Originally Posted by Savwar

It is from the crazy demand, while other brands are yearning for attention.

At the moment, the hype is concentrated in a handful of brands: Rolex, PP, RM, FPJ, Lange, and AP. A few other brands are doing fine (Tudor, Cartier, Omega, Breitling, etc.) but don’t command premium pricing in the secondary market. All others are trying to survive.

[Nikko1967]

I like this guy...BUT alll these videos on youtube...all these posers and strippers bidding up Rolex has really turned me off the brand. Maybe Im just getting older, but I dont like what I am seeing and who I am seeing wearing Rolxes these days.

[alphadweller]

I tend to like the dogs and underdogs which I got new from AD . So thankfully no premiums for me.

YM40 pt dial: everyone hates it
SD43: very controversial
TT Bluesy: few like it

Don't buy the hype. Off the beaten path goes a long way.

[Wahlberg]

Originally Posted by Rado63

You have to notice that the you tube videos with the most views are mostly Rolex content videos. There are so many amazing watches out there from other brands. Make a video about a Grand Seiko, Parmegini Fleurier, Girard Peregaux, Certina, Zenith, you won't have very many viewers. This watch hobby has become a pursuit of Rolex watches or Pateks, or AP's. It's not about horology or technology and it isn't even about value or pedigree. It is about I want a Rolex , Rolex and more Rolex. Youtubers want views and subscribers, and likes. So they will keep talking anything Rolex because so many people can't stop watching and listening to anything Rolex.

It's amazing how many video's they can make and keep talking about them. It's a watch, practically unchanged throughout the years and it tells the time. That's it.

[Ricky Rolex]

Used to like him until a friend offered him a 39mm Explorer mint condition and he quoted £4300 haha

After that I felt a bit embarrassed for him.


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[vh2k]

Originally Posted by alphadweller

I tend to like the dogs and underdogs which I got new from AD . So thankfully no premiums for me.

YM40 pt dial: everyone hates it
SD43: very controversial
TT Bluesy: few like it

Three great watches.

[enjoythemusic]

[GST15]

I waited 8 weeks for my sub at an AD....I wait longer than that for a plumber

[m j b]

This thread is so full of guesses, estimates and pure b.s. that aside from the entertainment factor of you guys getting all upset over someone else's suppositions, I would like someone to give me back those 10 minutes of my life that I spent reading it.

[jaychief]

Must admit watch I luv watching videos about watches... David Khalil does some good videos with interesting content

[speedbird]

This has all been said before. But it seems to have not got easier to source a watch from a dealer in the last few years. Only harder.

[quakeroatmeal]

"A total of 7.24 million mechanical watches were exported from Switzerland in 2019, a slight decline from a peak of 7.81 million in 2015, according to the Federation of the Swiss Watch Industry. (By comparison, 2.5 million were exported in 2000.)

“Overproduction has been a problem for 15 to 20 years,” said Ariel Adams, founder of aBlogtoWatch. “Brands make their money when watches are sold at wholesale. They’re incentivized to grow — most are publicly traded, so they have to grow — and the only way to grow is to charge more money or produce more volume.

“A lot of brands have factories that are only economically viable if they produce.”

This was taken from an article on the NY Times in April. I've seen people here say Rolex makes an insane number of watches per year, if the total number is about 7 million, how rare can a Daytona/GMT/Sub be?

I recently purchased a GMT from a grey dealer so I know I contributed somewhat to the problem, but still for something so "common" how are we in this mess?

[alphadweller]

Originally Posted by vh2k

Three great watches.

thanks!

[Madman37]

This is where the watches went

https://www.google.co.uk/amp/s/www.w...ler-for-clues/

[Fleetlord]

Originally Posted by Rado63

You have to notice that the you tube videos with the most views are mostly Rolex content videos. There are so many amazing watches out there from other brands. Make a video about a Grand Seiko, Parmegini Fleurier, Girard Peregaux, Certina, Zenith, you won't have very many viewers. This watch hobby has become a pursuit of Rolex watches or Pateks, or AP's. It's not about horology or technology and it isn't even about value or pedigree. It is about I want a Rolex , Rolex and more Rolex. Youtubers want views and subscribers, and likes. So they will keep talking anything Rolex because so many people can't stop watching and listening to anything Rolex.

Honestly I don't know anyone other than a WiS even remotely interested in luxury brands other than Rolex, AP, Patek, RM, but 99% of that is Rolex. Complete and total domination.