Rolex Price DECREASE!!!

[s.al-anizi]

Hi All,

Yesterday I went in to our local Rolex Boutique in Kuwait, and asked about the 116610 LN submariner's price.

A couple of weeks back, it was selling at $8850 (in today's exchange rate) after a 15% discount.

Yesterday, the quoted price was $8130 (today's exchange rate) also after a 15% discount!!!!???

I asked the salesman what was going on, he told me that in their first time in history Rolex have decreased their prices!! He said that was due to a lower Swiss Franc exchange rate. (dunno about that)

Anyone had any similar experience??

[Paladin]

It's really not nice to tease animals in a zoo with food or Rolex WIS's with urban legends about price DECREASES...

[s.al-anizi]

Why is it an urban legend Paladin?

I am honest about this, what's in it for me to fabricate some lies and the post about them?

[s.al-anizi]

Even grey dealers have reduced their prices by about KD200 which is the equivalent of some $700

[Lion]

Originally Posted by s.al-anizi

Why is it an urban legend Paladin?

I am honest about this, what's in it for me to fabricate some lies and the post about them?

Because Rolex has a track record(proven history) of raising prices but never have they lowered prices so people including me are going to be skeptical!!!

[mic6]

Be sure that people here know better than your dealer

[Paladin]

Originally Posted by mic6

Be sure that people here know better than your dealer

No one has a sense of humor any more......

[s.al-anizi]

Originally Posted by mic6

Be sure that people here know better than your dealer

I was talking about the Boutique mate, not some dealer.

I later cross checked with a grey dealer I know, and even he who was selling the 116610 LN cheaper than the boutique, at $8130 is selling it at $7400 now.

If you guys want, I can provide you with the Boutique's phone number and you can ring him up and make sure yourselves.

I myself am stunned that prices have gone down, but its a fact, maybe only here in Kuwait, I'm not sure

[s.al-anizi]

Rolex Kuwait:

00 965 2 5753330

you can call and check for yourselves guys.

[MoBe]

Currency exchange rates are a sometimes very painful fact of business,so much so that governments will take extraordinary measures to prevent their currency from rising beyond a certain limit where possible so as not to harm the balance of trade etc., and their economy as a whole.

Rolex is subject to currency swings the same as all other business trading in Swiss Francs therefore prices of Rolex products will fluctuate along with the value of the Swiss currency,it`s unavoidable.The only question in all of this is how much of the change,up or down,Rolex is willing to pass on to their dealers.

Another gentleman from Kuwait recently reported on this forum that AD prices had gone down and I can see no reason not to believe that report as well as this one.I can see that further evidence may be required to make some people around here believe that it`s true but there`s no doubt in my mind that it`s possible for prices to go down even for Rolex.

Before people roll out their pet beliefs as fact maybe some investigation into the truth of the matter may prove beneficial.

[mic6]

Originally Posted by Paladin

No one has a sense of humor any more......

I was serious

[dooder202]

So did they really go down or not?

[topgear]

this is interesting...

anyone witnessing the same else where?

[rr-nyc]

There is a difference between selling price and MSRP. Ask your AD if the MSRP has changed. That will give you the answer and I would guess not. Since you are using current exchange rates in your post, that leads me to believe something as simple as a currency swing that has changed the selling price

[floater156]

Just because some random lowered his price doesn't mean that ROlex prices are "decreasing."

[Scott95]

Originally Posted by s.al-anizi

Why is it an urban legend Paladin?

I am honest about this, what's in it for me to fabricate some lies and the post about them?

I believe you - not sure why everyone is being so critical. You've clearly stated that both prices use the same exchange rate and both were at an apples to apples 15% discount. The only thing in that equation that could have changed is MSRP. Now the thing the rest of us need to find out is whether that was limited to Kuwait only or if the rest of us are in for a treat. Something tells me Kuwait's prices may have gotten out of line with the rest of the world and this is a very local adjustment - but that's just a guess, so don't jump all over me!

Thanks for your post s.al-anizi

[dsio]

Originally Posted by topgear

this is interesting...

anyone witnessing the same else where?

Several years ago in '06 or '07 my brother bought his second Daytona for $17,000 AUD from the main Brisbane AD. Today, 6 years later the price has dropped to under $14,000 AUD at the same AD.

Not many places where its the case, but given they're hovering around 10k used that's a loss of about 40% of the value on a SS Daytona in 6 years.

[drockadam]

Yes! Excellent. Hopefully they can bring that Submariner back down to $1500 like it was in the 80's! Haha!

[globalmedia33]

If this is true, I'm happy.

[The GMT Master]

Well, if the prices were that after 15% discount, that would place the initial RRP at over $10000. If I'm not mistaken, that's considerably higher than the American RRP. Perhaps the exchange rates in Kuwait meant that a price decrease was necessary to bring the prices back in line with worldwide prices. I doubt there will be a price decrease in the USA or the UK any time soon

[snowbird]

The examples above from Kuwait and Australia seem to show that Rolex has decreased prices in specific markets, I assume due to currency movements.

In the case of the Australian dollar there has been a large increase in value in recent years so it makes sense to me that prices in AUD would go down on some imported products.

[s.al-anizi]

Retail price for the 116610 ln was KD2875 before discount, now is KD2650 before discount

$10390 and $9575 respectively

[brettpaul]

Just my 2-cents here guys, but in the Middle East it would not be uncommon for them to adjust prices at the dealer....regardless of what Rolex thinks/says/likes...at the end of the day, their argument is 'if you don't like it, then Rolex won't be in the Middle East'. It's worth noting that there a very few, successful families who run the watch business here...period. They frequently provide discounts on Rolex pieces...especially to their 'good' customers....I have the privilege of being one and can get up to 30% off list for any piece in the case (yes, even stainless). The only exception is the Daytona....I only get 15% on that baby!

[Scott95]

Originally Posted by The GMT Master

Well, if the prices were that after 15% discount, that would place the initial RRP at over $10000. If I'm not mistaken, that's considerably higher than the American RRP. Perhaps the exchange rates in Kuwait meant that a price decrease was necessary to bring the prices back in line with worldwide prices. I doubt there will be a price decrease in the USA or the UK any time soon

Party pooper!

[bewithabob]

deflation is a dangerous ….

[Welshwatchman]

It wouldn't do Rolex any harm to trim the RRP back a notch or two.

£4,000 for a 116570, 116610, GV seems plenty high enough. £17,000 for a 116509 also.

[dpkong]

Originally Posted by s.al-anizi

Retail price for the 116610 ln was KD2875 before discount, now is KD2650 before discount

$10390 and $9575 respectively

sounds expensive even after currency fluctuation correction

[frequentflyer]

Sounds about right as a SS GMT here in the UAE is 33000 DHS list ($8984) and 29000 DHS ($7895) after discount. I was in the AD yesterday and no price reduction here unfortunately!!

[laphroaig007]

Any other opinion from elsewhere in our world ???
;)
No such thing here in France. To my present knowledge.

[T.S.Eliot]

Originally Posted by mic6

Be sure that people here know better than your dealer

Would have to disagree on that, it has nothing to do with Rolex but rather the exchange rates applied in different countries.

Prices dropped across the Gulf, the Sub LN can be had for 6,900 USD.