Rolex AD Experience (Just a Visit)
All this talk of Rolex, waitlist, and a world in turmoil, I decided to visit my two closest ADs To experience it for myself. I first contacted several ADs via email, told them which watch I was looking for and if it’s available to purchase. They all kindly replied that no, it’s not available and they don’t have a ETA if I wanted to wait, however, I’m invited to visit the store in person for a cup of coffee and chat.
I only went to the two closest stores because a 4 hour drive out to a smaller town just for coffee and being told I won’t get what I want seems a waste of time.
During my visit, it was clear that they salesperson was trained by Rolex to explain why there’s a shortage and purchasing a Rolex was a milestone that should be treasured and remembered. That a Rolex timepiece takes a year to make, that a Rolex is in high demand and they won’t compromise quality for quantity and that Rolex shipments received are rotated between the sales staff. Which means shipment A may go to salesperson A and shipment B may go to salesperson B. Whenever my desired watch arrives and it’s now allocated to my particular salesperson, she will go down her list of clients (in order from the date of visit) and make “the call”.
Again, no time estimates but they’re happy to add you to their waitlist. If you seems genuine, they will even throw in a gift or two just for the visit (Pens, polishing clothes, catalogs).
Rolex continues to turn a blind eye to their ADs selling out the back door. There is no shortage of NIB Rolex models, just go have a search on Chrono24. There are thousands for well above MSRP.
Rolex and Tudor opened a boutique in NYC. I stopped in to checkout the all bronze Tudor a few months ago and walked through the Rolex side and they had 3 women's watches available. All Tudors were available, some with a small wait if you wanted on bracelet.
It's the Boutiques as well as the ADs.
Rolex continues to turn a blind eye to their ADs selling out the back door. There is no shortage of NIB Rolex models, just go have a search on Chrono24. There are thousands for well above MSRP.
I think there are a lot of supposition from lack of transparency and growing frustration. The information seems contradictory. I’ve heard that flippers get blacklisted by ADs yet many accuse ADs of supplying grey market. I honestly don’t think the latter is true. Firstly, the ADs are often privately owned jewelry stores that sell plenty of other shiny expensive things. They need business and getting their clients the coveted Rolex is a great way to keep their clients. Keeping clients waiting who would visit and buy many other things for months or years seems counterproductive. I think the truth is, people buy and flip rather than ADs supplying grey over selling to regular clients. My buddy owns a liquor shop, and people are going nuts over allocated bourbon and whisky. Just as in Rolex, you can find these bourbon grey market at double or more the msrp but no store will ever supply to a flipper or grey market and risk losing their license. The distributors send less and less stock to the stores, hence the rarity of the products, it’s just the reality. No conspiracy behind it.
The salesperson’s attempt to spin the lack of stock to make it sound like waiting is part of the “experience” of buying a Rolex seems patronizing to the point of being insulting. Who falls for that line of BS? Whoever does, let me know who they are, because there’s a bridge in Brooklyn I’d like to sell them.
I’ll preface this by saying I have have zero background on how these ADs operate, but I what I find surprising is that every Rolex dealer I’ve visited in my neck of the woods (Washington) have 3-4 completely empty display cases taking up “rentable” square footage. While I understand this imagery/reality further underlines the the scarcity (and therefore rarity) of these piece, I just imagine actually having watches in cases that folks can purchase would be far more appealing to ADs. I mean the Rolex area is sometimes 1/6 of the store square footage, which I imagine is pretty valuable.
As I understand it, this empty-case condition won’t be for much longer, as I hear they are beginning to place non-functioning but completely accurate models of these hard to find pieces in the cases so that people can go into to get the experience of trying one on (even if they can’t purchase). Thats definitely better than an empty case but doesn’t address the issue of lack of availability of course.
I’ll preface this by saying I have have zero background on how these ADs operate, but I what I find surprising is that every Rolex dealer I’ve visited in my neck of the woods (Washington) have 3-4 completely empty display cases taking up “rentable” square footage. While I understand this imagery/reality further underlines the the scarcity (and therefore rarity) of these piece, I just imagine actually having watches in cases that folks can purchase would be far more appealing to ADs. I mean the Rolex area is sometimes 1/6 of the store square footage, which I imagine is pretty valuable.
As I understand it, this empty-case condition won’t be for much longer, as I hear they are beginning to place non-functioning but completely accurate models of these hard to find pieces in the cases so that people can go into to get the experience of trying one on (even if they can’t purchase). Thats definitely better than an empty case but doesn’t address the issue of lack of availability of course.
That‘s exactly right, the ADs had display models of submariner, sea dweller, Daytona, and several more in the case. They did not have movements inside the watch so they can’t be sold. So the picture I posted was only half of the display, the other half were actually stocked with display models.
I personally can't fault Rolex, they execute their brand strategy very well in an environment where other luxury manufacturers are forced to discount their list prices or need to limit their production volumes.
As far as I know Rolex has actually a relatively high degree of automation in their production process. I'm sure they could increase production if they wanted to.
Part of a luxury watch is that it isn't easily attainable.
Or think about it that way: Can you think of a better form of advertisement that conveys scarcity and desirability than the current supply shortage?
Quite honestly I’m not sure what the point of this post is. If nothing else, it’s a rant because a large number of people can’t just go into a Rolex AD and walk away with a watch. At this point, this isn’t new, and not likely to go away any time soon. If you still want the watch, you’re going to still buy the watch at a premium. If you won‘t buy it, you won’t. What’s the benefit to posting things like this, other than… misery needs company ?
Quite honestly I’m not sure what the point of this post is. If nothing else, it’s a rant because a large number of people can’t just go into a Rolex AD and walk away with a watch. At this point, this isn’t new, and not likely to go away any time soon. If you still want the watch, you’re going to still buy the watch at a premium. If you won‘t buy it, you won’t. What’s the benefit to posting things like this, other than… misery needs company ?
I mean, yeah it’s more or less just sharing my experience visiting the Rolex AD. I wish I could follow up with a “I got the call!” a week later but it hasn’t happened. I didn’t expect to walk away with a watch in hand, but I wanted to see just how long the wait would be. Will they call me a year later or a month later? I wanted to see what happens and I’m just sharing it with y’all.
Sorry to say that, but that’s just pathetic. They sell it as an experience to wait for a watch.
I think there are a lot of supposition from lack of transparency and growing frustration. The information seems contradictory. I’ve heard that flippers get blacklisted by ADs yet many accuse ADs of supplying grey market. I honestly don’t think the latter is true. Firstly, the ADs are often privately owned jewelry stores that sell plenty of other shiny expensive things. They need business and getting their clients the coveted Rolex is a great way to keep their clients. Keeping clients waiting who would visit and buy many other things for months or years seems counterproductive. I think the truth is, people buy and flip rather than ADs supplying grey over selling to regular clients. My buddy owns a liquor shop, and people are going nuts over allocated bourbon and whisky. Just as in Rolex, you can find these bourbon grey market at double or more the msrp but no store will ever supply to a flipper or grey market and risk losing their license. The distributors send less and less stock to the stores, hence the rarity of the products, it’s just the reality. No conspiracy behind it.
Well, there is a lawsuit alleging racketeering....
https://www.nationaljeweler.com/articles/1808-chicago-rolex-dealer-accused-of-racketeering-in-lawsuit
I personally can't fault Rolex, they execute their brand strategy very well in an environment where other luxury manufacturers are forced to discount their list prices or need to limit their production volumes.
As far as I know Rolex has actually a relatively high degree of automation in their production process. I'm sure they could increase production if they wanted to.
Part of a luxury watch is that it isn't easily attainable.
Or think about it that way: Can you think of a better form of advertisement that conveys scarcity and desirability than the current supply shortage?
Nobody wanted a Rolesor Explorer. Yet they're making those instead of the most highly in demand watches. Doing the opposite is an easy way to ease the crunch. So, is there a reason the opposite isn't done?
I think the general sentiment towards Rolex and their dealers is pretty sour at this point lol.
Nobody wanted a Rolesor Explorer. Yet they're making those instead of the most highly in demand watches. Doing the opposite is an easy way to ease the crunch. So, is there a reason the opposite isn't done?
Yes, there is a method to the madness. It's a lesson from Tag Heuer making their watches more accessible, or even Tiffany having jewelry collections for the middle class, and ultimately diluting their brand. (The Tag Heuer story is particularly troublesome IMHO, as Heuer was a company with a very strong heritage.)
In 2020 about 10% of the Swiss watch exports in volume accounted for 70% of the revenue, and that was the segment over CHF 7000.
It's ultimately not in Rolex interest to ease the crunch if their desire is to remain in a very lucrative luxury market. Sure they could grow volumes, but it doesn't mean that they would be as profitable as they are.
Yes, there is a method to the madness. It's a lesson from Tag Heuer making their watches more accessible, or even Tiffany having jewelry collections for the middle class, and ultimately diluting their brand. (The Tag Heuer story is particularly troublesome IMHO, as Heuer was a company with a very strong heritage.)
In 2020 about 10% of the Swiss watch exports in volume accounted for 70% of the revenue, and that was the segment over CHF 7000.
It's ultimately not in Rolex interest to ease the crunch if their desire is to remain in a very lucrative luxury market. Sure they could grow volumes, but it doesn't mean that they would be as profitable as they are.
It's a fair point. However, there is a difference between sating demand at the retail price you specify and moving downmarket. I don't think producing closer to the number of Submariners that are demanded is equivalent to releasing a Must de Submariner. ;)
Well, there is a lawsuit alleging racketeering....
https://www.nationaljeweler.com/articles/1808-chicago-rolex-dealer-accused-of-racketeering-in-lawsuit
Very interesting, indeed. In addition, you also have to blame buyers for all this, though - if people weren't willing to pay two, three, even four times over MSRP for goods, there wouldn't be an underground market at all.
I think the general sentiment towards Rolex and their dealers is pretty sour at this point lol.
I hear you. Heck, I have picked up a new Rolex from an AD in the past - but to go through this kind of thing? With Omega, JLC, IWC, Grand Seiko, etc, in the world? Are you kidding?
Very interesting, indeed. In addition, you also have to blame buyers for all this, though - if people weren't willing to pay two, three, even four times over MSRP for goods, there wouldn't be an underground market at all.
It's also a fair point. I look at this differently, which is to say, if the people willing to pay multiples of MSRP got the watches first (which is what happens in an auction) then there wouldn't be an underground. Those who value closer to MSRP are selling to those with a higher valuation. Tooting my own horn on this:
https://www.horolonomics.com/2021/10/auctions-flipping-solution.html
I'm surprised they didn't have any exhibition pieces to show you. I'm sorry to hear this, I hope you eventually find the piece you are looking for.
Here's a quick update. I visited the AD again 15 days later, just to chat. Then 2 days later, she called me and said a Submariner 124060 is available and if I'd like to have it. I picked it up yesterday. Less than 3 weeks of waiting for a steel sports Rolex. Still waiting on the Green Sub.
I think there are a lot of supposition from lack of transparency and growing frustration. The information seems contradictory. I’ve heard that flippers get blacklisted by ADs yet many accuse ADs of supplying grey market. I honestly don’t think the latter is true. Firstly, the ADs are often privately owned jewelry stores that sell plenty of other shiny expensive things. They need business and getting their clients the coveted Rolex is a great way to keep their clients. Keeping clients waiting who would visit and buy many other things for months or years seems counterproductive. I think the truth is, people buy and flip rather than ADs supplying grey over selling to regular clients. My buddy owns a liquor shop, and people are going nuts over allocated bourbon and whisky. Just as in Rolex, you can find these bourbon grey market at double or more the msrp but no store will ever supply to a flipper or grey market and risk losing their license. The distributors send less and less stock to the stores, hence the rarity of the products, it’s just the reality. No conspiracy behind it.
There are literally thousands of BNIB Rolexes for sale online. Many of these haven't been bought by the public, they are not even worn. The watches are going somewhere, and I think many are sold to ADs who can get a much bigger profit selling online to desperate people rather than at RRP to B&M customers.
Anybody going on a waiting list is perpetuating this stupidity.