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24 December 2022, 12:40 AM | #1 |
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Financial Times Article
https://www.ft.com/content/a7cbc3b7-...4-51cedd5e9a29
Interesting read this AM Sent from my iPhone using Tapatalk |
24 December 2022, 12:41 AM | #2 |
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Yep.... I saw that too.
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24 December 2022, 01:36 AM | #3 |
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Very interesting read, thanks for sharing
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24 December 2022, 01:38 AM | #4 |
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Does somebody mind to copy and paste here? Not a subscriber
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24 December 2022, 02:08 AM | #5 |
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No bueno here. pay wall blocked
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24 December 2022, 02:14 AM | #6 |
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24 December 2022, 02:15 AM | #7 |
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required payment to read article. great!
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24 December 2022, 02:28 AM | #8 |
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Tried incognito, but it will not display.
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24 December 2022, 02:31 AM | #9 |
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24 December 2022, 02:41 AM | #10 |
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Copy and paste it OP.
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24 December 2022, 02:45 AM | #11 |
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Wow, what a read.
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24 December 2022, 02:46 AM | #12 |
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Post a 1-line summary
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24 December 2022, 02:49 AM | #13 |
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So, what is your take on it?
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24 December 2022, 03:06 AM | #14 |
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24 December 2022, 03:13 AM | #15 |
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Well, I mean, unless people have been living on a deserted island for the past 3 years stories of this nature are frequent and detailed. So, nothing new to this reader. Another lawsuit of this nature was ongoing (I lost track of it though) during the same timeframe in which a hotshot Porsche salesperson here in Miami was selling unobtainable Porsche (GT2R, GT3, etc) to his offshore shell company and then reselling the cars at 100% premium to buyers. Since the guy worked at said Porsche dealer he used his position to order the cars a-la-carte with all the options the buyer sought. These things transpire when retail items are worth more than their retail price and nothing will stop it. Ever. Whether it be a limited series Berkin Handbag, Luxury Watch or Limited run Ferrari, there’ll always be hands in the cookie jar.
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24 December 2022, 03:14 AM | #16 |
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Cliff notes:
- Guy wants to buy an OP for his wife - ADs have nothing in stock! (Has anyone heard about this? ) - Then there's an unrelated story of some backdoor sales... - Guy buys a used Airking with no B & P - Watch is broken when wife opens the package! - Watch gets fixed, wife likes it anyway |
24 December 2022, 03:14 AM | #17 |
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For those copying and pasting the article, consider this is proprietary content of the FT, despite the loopholes.
And FYI, there isn't anything in the article that you don't already know or could surmise.
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24 December 2022, 03:16 AM | #18 |
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I could be wrong but printing the article from their website and posting for others to read isn’t frowned upon. If I am wrong, mods pls remove the PDF
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24 December 2022, 03:29 AM | #19 | |
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Quote:
The article wasn’t a worthwhile read. |
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24 December 2022, 03:50 AM | #20 |
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24 December 2022, 04:03 AM | #21 |
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That is the most information I have ever seen about the CD Peacock saga, a story that’s been floating around for several years. The alleged story helps explain that the collusion was just at one store, not corporate level. The belief that the current demand situation will sour Rolex sales in the future is a stretch, I’m noy buying that.
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24 December 2022, 04:15 AM | #22 | |
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Quote:
Intentional or not on the journalist’s part, that’s what he achieved.
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24 December 2022, 05:05 AM | #23 |
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Cool article, but nothing new.
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24 December 2022, 06:52 AM | #24 | |
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Quote:
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24 December 2022, 06:54 AM | #25 | |
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Quote:
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24 December 2022, 09:40 AM | #26 |
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Thanks for sharing that. I was an interesting read. Definitely not a surprise though.
I think that the problem is not just confined to dealers acting in this way, it is also one-off flippers too. I will give you a very personal example. I recently bought a TT DJ31 for my wife from a Grey dealer locally after giving up on all of the local retailers. The watch was 5 days old and bought from one of the local retailers who had a long wait list and said would contact me (like all the others) when one became available. The grey dealer transaction was flawless with a check done in-person at an independent watchmaker for genuine status etc. At the end of the transaction the grey dealer said to me that if we got called by any of the retailers, they would be happy to take either the one we just bought or the one on offer off of our hands for a little profit to us. Now that is where the problem really lies in my opinion. I am not a flipper, but maybe I might be a one-time flipper in this instance if the opportunity presented. How can a legit dealer, playing by the rule book cope with this?
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24 December 2022, 10:03 AM | #27 |
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Interesting how blatant the SA was breaking the rules, some people just don't give a s***, and the part about writing celebrity names on the cards. I guess some people will pay a premium for that despite it not being true.
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24 December 2022, 11:13 AM | #28 |
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What I liked about the article were the details of the (alleged) scam. I hope the whistleblowers get something positive from doing the right thing.
In HK the AD scam is simply brazen. The AD sells to friends/family/associates and those watches immediately show up for sale at market prices at a wholly owned subsidiary of the AD. Rolex must know about these scams, if they‘re clearly known to all and sundry, they know, too. |
24 December 2022, 11:34 AM | #29 |
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The article was clearly written by a newbie who had little to no knowledge of the Rolex/luxury market.
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24 December 2022, 11:50 AM | #30 |
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I didn't find the article at all interesting.
Personally I preferred @amh 's summary.
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