Interesting information from my AD today

[DocD]

As I've stated on here many times, I have a patient that has been working in the watch department at an AD for the past 25 years. The AD has 3 large stores each carrying about 100+ Rolex on display in each store.

I had an interesting conversation with him today, since I'm always giving him information that I've learned on this website. And, I believe he's learned more from me than he has from the Rolex rep that he sees 2-3 times a year or from any other source. I'll sum up some of the information, but remember, this is only from ONE AD, so his experience may be unique, though it is a large AD:

-Although we all are interested in serial numbers, differenet series watches, letters/numbers on the clasps, coronets on the crystal, fat hands/skinny hands on the Daytonas, different fonts on the subs, the type of steel Rolex uses, crown position, etc., he tells me that in over 25 years of selling Rolex he can count on two hands the amount of times he's actually been asked any of these questions.

-He told me that 99.9% of the time customers simply walk in, pick the watch he/she wants, have the watch sized, pay for the watch and leave. Most people have no clue as to the inner workings of the mechanical watch, etc. They simply come in to buy a Rolex and leave with a Rolex. That's all.

-He told me that he sees the Rolex rep about 2-3 times a year and that the Rolex rep wears a stainless/platinum Yachtmaster, and that it's a GREAT job. The rep confirmed that on the East coast SS Subdates are very hot and the rep basically dictates who gets what.

-He also told me that he was on vacation and visited the Rolex store in Vegas and was amazed at the amount of watches, though they didn't have the gold anniversary GMTII, and did not have any SS Daytonas. He said they did have a huge selection of watches with gems and varied dials. He also stated that he was the only one in the store when he was there.

-He informed me that according to the Rolex rep that was in his store last week, the prices are going up as of October 1st, and the price of the stainless steel sub-date will be $5100+, YES $5100+.

-He also stated that price was in effect even if an order was taken prior to the price increase if the watch is delivered after October 1st, and that even if a watch is in the counter already, the price increase is for ALL watches even those already in stock. (The AD's must love that because that's pure profit and allows them to now offer a nice discount).

-Contrary to what I thought, he told me that Rolex really doesn't keep the AD up to date on as much as I thought. He stated that there is no newsletter, etc., and that's why when I give him information it is often the first time he's heard that info.

Anyway, I just thought I'd pass along what I was told. Remember, this certainly is NOT gospel and some of this information may not coincide with information that you receive from your AD. I'm just repeating what I was told, so don't shoot the messenger if you disagree

Wow, am I ever shocked that Rolex doesn't keep their reps up to date.

thanks for the update. Sounds like you have a great relationship with your dealer.

[DocD]

He's been a patient of mine for the past 18 years, so he's really been my patient prior to him being my "AD". He's a great guy, I just wish that he owned the store, and didn't simply work there!

[s7horton]

Some great information! Thanks for taking the time to share. Is this AD a large chain, or just a local dealer with multiple stores?

[DocD]

It's just a local dealer with 3 stores, 2 in Pennsylvania and 1 in New Jersey.

[colemanitis]

That's a great read... thanks for sharing!

[JJ Irani]

Excellent post and some useful info, Doc. Many thanks. WOW!! Price of the 16610 up by almost US$600!!!

[C.J.]

Great thread, Doc Thanks for sharing it with us

I was in Cherry Hill last week, I had to take my wife to an allergy specialist right down the street from your AD. I'm going back next week, I'm going to make it a point to stop in

[Spencer]

Very interesting info

I have a Daytona that is supposed to come in any day now, I hope I get it before Oct 1. If not sounds like I won’t be able to get the current price, even though I turned down a black dial one a couple of weeks ago.

$5100 plus for a Sub Date?!?!?!?!?!?!?!? WOW!!!!!!!!!!!!!!!!!!!!!!

I’m also kind of surprised how hard SS Subs are to find on the east coast.

Originally Posted by Spencer

Very interesting info

I have a Daytona that is supposed to come in any day now, I hope I get it before Oct 1. If not sounds like I won’t be able to get the current price, even though I turned down a black dial one a couple of weeks ago.

$5100 plus for a Sub Date?!?!?!?!?!?!?!? WOW!!!!!!!!!!!!!!!!!!!!!!

I’m also kind of surprised how hard SS Subs are to find on the east coast.

Bah, what are you guys whining about? Or 16610 is currently priced at CDN$6500 no discount, plus 15% tax.

[JJ Irani]

Originally Posted by Atomic

Bah, what are you guys whining about? Or 16610 is currently priced at CDN$6500 no discount, plus 15% tax.

Ridiculous!! And you guys don't even want to know how much I paid for my 16610!! Ooops...

[s7horton]

Originally Posted by JJ Irani

Ridiculous!! And you guys don't even want to know how much I paid for my 16610!! Ooops...

I do, I do!!

[JJ Irani]

Originally Posted by s7horton

I do, I do!!

PM sent!!

[morgman]

So how much should this bring up the price of a used sub?

[s7horton]

Originally Posted by morgman

So how much should this bring up the price of a used sub?

Probably not that much, yet. It will eventually, but you can still find an "F" series sub for 3400-3600 I'll bet.

[Rodmo]

Thanks very much for sharing this information.

Even at $5,100 US, the SS Sub date would still be significantly less expensive than in Canada where the MSRP is $6,260 Can, which translates to about $5,600 US.

And, add (at least in my neck of the woods) another 14% in taxes.....

[RogerF]

Originally Posted by Rodmo

Thanks very much for sharing this information.

Even at $5,100 US, the SS Sub date would still be significantly less expensive than in Canada where the MSRP is $6,260 Can, which translates to about $5,600 US.

And, add (at least in my neck of the woods) another 14% in taxes.....

But thats why in Canada dealers are more open to discounts. Rolex USA likes to shovel a lot of restrictions, but the way Rolex Canada sees it they sell watches to their dealers and their dealers need to make a profit so if a dealer needs to give out a dscount to complete the sale so be it.

[infoe]

This is the price increase that I was worried about....due to the fact that my watch is going to take 6-8 weeks to get to me...I really REALLY hope I dont get affected by a price increase...for I would be really upset.

Originally Posted by DocD

-He also stated that price was in effect even if an order was taken prior to the price increase if the watch is delivered after October 1st, and that even if a watch is in the counter already, the price increase is for ALL watches even those already in stock. (The AD's must love that because that's pure profit and allows them to now offer a nice discount).

Anyway, I just thought I'd pass along what I was told. Remember, this certainly is NOT gospel and some of this information may not coincide with information that you receive from your AD. I'm just repeating what I was told, so don't shoot the messenger if you disagree

Not shooting the messenger but I find the item about a price increase coming into effect even after an order is placed to be hard to believe. If I went in to an AD, received a price on a watch, had them order it, and they tried to charge me more when it arrived I don't think I would be dealing with that store any longer. In this instance a verbal contract (and maybe written) would have been entered into. You would have to be a pretty dense customer to agree to such an increase........

[RogerF]

Originally Posted by Avalon

Not shooting the messenger but I find the item about a price increase coming into effect even after an order is placed to be hard to believe. If I went in to an AD, received a price on a watch, had them order it, and they tried to charge me more when it arrived I don't think I would be dealing with that store any longer. In this instance a verbal contract (and maybe written) would have been entered into. You would have to be a pretty dense customer to agree to such an increase........

WORD!!! With my dealer they would never dream of doing that to me. I got my SS Daytona 8-9 months after I ordered it, the price of the watch had gone up a few hundred dollars but they never charged me more than what was written on my order receipt. In fact they rounded it a few dollars down

[RogerF]

One more word on teh increase in the US, most countries have not seen nearly the amount of price hikes that the US has seen in the past few years. I think this is mainly attributed to the super weak US dollar and what it costs Rolex USA to purchase watches from Switzerland.

[Spencer]

I was at a lunch meeting today at a very large office/industriual building (I work in Commercial real estate), I kid you not, I probably noticed about 10-15SS Subs. They are very very common out here in L.A.

[haakon59]

That was interesting, but not surprising to me. Most AD's have salespeople who are very ill informed about their product and don't particularly understand the motivation to "buy mechanical". I have run into some exceptions though: people who know their watches really well. But Rolex has promoted itself so well and by positive word of mouth and reputation over the years, that just the name is "shorthand" for luxury and quality when it comes to wristwatches. Good for them.

The comment that most people don't ask many questions before buying also doesn't surprise me. None of us can be expert at everything, but I think that most people just assume Rolex is a fantastic watch--they are of course right about that. Fun post, thanks.

[mike]

Great report Doc!

I think we in the WIS community sometimes forget we make a small minority of the watch buying public. To us this is a hobby and a passion. To most people a watch is something that tells time or makes a statement.

As far as Rolex keeping information close to the vest,Intelligence communities of the world could learn a few things from Rolex. LOL!

[mailman]

Great post Doc. It's very good to have a relationship with someone who works at an AD

[infoe]

Originally Posted by RogerF

WORD!!! With my dealer they would never dream of doing that to me. I got my SS Daytona 8-9 months after I ordered it, the price of the watch had gone up a few hundred dollars but they never charged me more than what was written on my order receipt. In fact they rounded it a few dollars down

I thought that was the case too....I have a couple of AD's in Miami and they all said the same thing...that if the price would go up and that I would have to pay the new price. The AD that I ordered my watch and put 1k down payment towards very "inconspicuously" put 1k under credit but did not put anywhere what was left in balance or the price that we determined would be what I was paying for my watch. All I could do is pray and hope because they'd literally have me by the Juevos...anywhere else that i would go to if i cancelled my order would have the price increase in affect and Id have to wait another certain amount of time Im sure to get it.

[infoe]

Here is an actual email sent to me by the AD...I have removed their name for all intensive purposes...They had great great customer service and he won me over from the first time I spoke to him. (much smaller AD, customer service is all he has compared to the big boy AD in town) But it describes the problem with the price increase.



Jose,

It was a pleasure speaking with you today. This email is to confirm that
I have placed a special order with Rolex for model # 11623453B72200.
This is a full size (36mm) Gts. Datejust in stainless steel with an 18kt
white gold fluted bezel, Oyster bracelet and white roman numeral dial.
Also, this is the newest style of watch by Rolex.

Your price will be 15% off retail which now is $5225.00 plus sales tax.
If the price goes up before we receive this watch from Rolex we will
honor the same discount off the new retail price.

Cosette, my office manager, will be mailing to you the credit card
receipt along with a temporary Lay-A-Way slip showing a deposit of
$1000.00 paid today as a deposit on this order.

Thank you again for letting me help you with this order. As I learn more
as to the progress of this order, I will keep you informed.

Sincerely,

[Lol-x]

It seems to me that if you have entered into a contract with an AD to buy a Rolex at an agreed price then you have a binding contract for that price (especially if you have put a deposit on it).

The AD doesn't have the right to say afterwards that "Oh, prices went up on 1 October so the price isn't as we agreed its now what be agreed +$$$."

There would appear to be no scope for the AD to allege that there was an implied term of the contract that if Rolex decided to have a price increase after the contract crystalised that the price increase would be applicable.

& 73