Rolex Market Crash: How the Market is Changing Forever!
Вставка
- Опубліковано 25 тра 2024
- In this video, we dive deep into the shifting dynamics of the Rolex market and the luxury watch industry. As an economist and watch enthusiast, I share unique insights on how changing consumer preferences, economic factors, and Rolex's supply plans are reshaping the landscape of luxury timepieces.
We explore key concepts like indifference curves and the Laspeyres Model to understand how consumer behavior is evolving in the post-pandemic world. Using data from Watch Charts and the U.S. Bureau of Labor Statistics, we analyze the impact of the pandemic on Rolex and Holy Trinity prices, as well as the ongoing housing price squeeze on consumer spending.
Looking ahead, we discuss the implications of Rolex's planned production increase and what it means for the future of the Swiss luxury watch industry. Will the market find a new equilibrium, or will the increased supply dilute Rolex's brand prestige?
Whether you're a seasoned Rolex collector, a watch enthusiast, or simply curious about the economics behind luxury goods, this video offers valuable insights and predictions for the future of the Rolex market.
Join the conversation in the comments below and share your thoughts on how the experiential luxury trend is changing the way we perceive and consume high-end watches.
Keywords: Rolex market, luxury watches, Swiss watch industry, watch market analysis, Rolex prices, consumer preferences, indifference curves, Laspeyres Model, Watch Charts, housing prices, Rolex supply, Rolex production, experiential luxury, luxury goods economics
Hashtags: #RolexMarket #LuxuryWatches #WatchMarketAnalysis #SwissWatchIndustry #RolexPrices #ExperientialLuxury #WatchCollecting #EconomicsOfLuxury - Розваги
Luckily prices dropping just means more watches for true enthusiasts & less money for opportunists.
Prices have dropped from the QE-fuelled speculation of 2022 but now they've plateaued! It's not true that the prices are crashing.
If the price drops too much then 99 percent of you would not buy Rolex. Just be Happy that Rolex is that exclusive!
True, but I sense Rolex, Patek, and Audemars Piguet are focused on resale value more than meeting demand. Many of the AD’s in the US are still playing their Pandemic Games.
@@dannysimenauer5745 Agree and why Rolex has started their pre-owned program. In this way, they can maintain the illusion of the value. By boosting or preserving the pre-owned values, their market manipulation continues.
Agreed
This reinforces my conviction NOT to buy a luxury watch at grey market prices.
Unless grey market is significantly under retail - which it was for decades and is going again in that direction....
With the sad passing of several older close family members in the last five years (COVID) my wife and I have realised we value experiences to create memories with family and friends.
Instead to purchasing a luxury watch, expensive car or even an exclusive resort holiday for just the two of us (we have no children) we would rather pay for a memorable experience for the wider family as a gift.
The photographs of these special occasions have far greater value to us than anything else.
Good point
Amen and well said. Your priorities are well placed!
My condolences.
I have not seen one price drop from any reputable seller, and the AD's have nothing for sale.
You ain't been watching Chrono24 too closely then. Big drops on the secondary market in multiple countries.
They are still trying to sell at high prices - but try selling THEM something and see what they offer, you will be shocked!!
I was trying on available exhibition models at my AD, when they pulled out a box from under the counter with undesirable rose gold and two tones, and offered them to me. I said oh cool, you guys do trade ins? They said yes. Took off my white OP 39 and asked if they can give a quote for trading in.
He just picked it up, put it back on my wrist with a weird smile.
It was awkward. I just walked over to check out some Tudors.
Actually went to my ad to buy an omega speedster, listed at MSRP, I offered him 500 less and made the deal. So they may not drop their listing price but now will deal.
@@homer5328 Yeah my AD offered me 12% off for the Speedy (but not the white dial one) and that AD is majority owned by the Swatch Group....
I would buy rolex, but I'm kind of sick of them. Over hyped and not worth the money. Just assembly line watches that want you to believe that they are hand-made. The ADs also hurt them. So I'm 100% out. I just jumped to what I like more. Vacheron, grand seiko, zenith
Vach makes some damned pretty watches.
So does Grand Seiko actually
I’m 51. I have a lot of young people in my family and friendship circle. I’ve noticed that the younger generation are extremely materialistic and I can never understand how/why they spend the money they do on clothes, nights out, holidays, cars. I’m not convinced that luxury experiences are a preference to tangible luxury goods. The watch market blew up too quickly and now that demand has receded, so will prices. If you look at the market over a long term view, prices are still way too high.
There are only a few steel models now that are trading above retail. The margin is small enough that it might not matter. Especially now the grey dealers dumping inventory.
@@mywatchjourney6579 just because something trades for retail, that doesn’t mean it’s a good deal. These same watches were trading at a discount in my younger days. It was normal to buy a steel Rolex for a small discount.
Not sure I agree with the luxury experience part. I also believe that a lot of enthusiast buyers were put off by the arrogance of AD's and the flippers in the market (so was I myself).
please elaborate on how a lot of rolex or AP models still list above retail? there is NO supply shortage. there are literally all models in huge supply in the secondary market. sellers are sitting on their stock, not realizing prices wont come back.
Spot on observations of changes in consumer behavior. For decades, I, too, was a watch enthusiast. In terms of dressing for going out, I felt incomplete without wearing a luxury wrist watch. That pride of showcasing a timeless luxury watch is no longer present. Instead, I find it more comforting to be “stealth” wealth, focusing on traveling, dining in ordinary appearances - the ability to blend in is priceless, not showcasing prices. In summary, your explanation about behavioral consumption trend is very thoughtful, informative, and intuitive to understand.
Great explanation! Only a matter of time until we can walk into any AD a have whatever watch we want, the way it should be. No watch is worth more than msrp!! 😂😂
;LOL now here's the definition of an optimist!
Makes sense
No, it’s only been a few years since you could walk in and get anything but a Daytona. Those times will come again. I remember when a brand new Submariner was $1200. I’ve been in this game for decades.
@@ph8077 just save your coins. Got a discount on a two tone date just in 2018 🫡
@@user-bf1wg7jo9vIt will be interesting once the pendulum swings back in the collectors’ favor if the order taking AD’s remember how to sell Rolex and provide a unique experience. Time will tell.
Absolutely. Been traveling non stop and muuuuuuch less thinking about watches. Still love them. Still wear them. But not like in COVID years where even back then I was laughing at people paying premium for watches.
Very good points. Thank you. I would like to add that geopolitical instability with China and Iran will apply additional pressure as already happened with Russia when all luxury watch brands exited the market in 2022!
Shortened up, supply and demand, and demand is shrinking.
Also, there was a bubble over overevaluating Rolexes. Also COVID made an uptime for watches that was not going to last. Also we are in an "everything crises" and people value unecessary things less.
Yes, but you need an analysis of why demand is shifting. It's the key component.
@@mywatchjourney6579 Yes, how many coefficents and for how many effecting facors you would want to account for, I assume is mainly limited by whatever data sets are available.
When it comes to things that I would chategorize as more chaotic and harder to analyse, such as human behavior, I find it especially tough to decide where to draw the line of what is relevant to account for.
Why I enjoy analysing data for material mechanical failure, alloying, and things that will give more presise and re-usable results, as our messy desition making is not involved.
So kudos for wanting to analyse human behavior.
@@mywatchjourney6579 did you delete my comment?
@@mywatchjourney6579 Ok, you did delete it, good to know:p
I have seen so many headlines about "Rolex Market Crashes" but I'm still seeing prices still WAY above retail for entry level watches along with Rolex raising prices every year.
Maybe it's in your local area? Where do you live?
The price is coming down but still out of reach for an average consumer, don't expect a brand like Rolex not protecting their brand value.
AD games have already changed consumer preferences. Since the resale price of Rolex is down while the list price is up, people who bought them to flip are not doing it as much. If you go on Chrono 24 you’ll see over 100,000 Rolex are listed (that’s a bit of glut). ADs keep the steel stock hidden, hoping the trend will reverse (could take a while…). The units shipped is down because the manufacturer is making more gold pieces. It will have to come down a lot more since the number of consumers looking to spend $50k on a watch is much smaller than the number of customers will to spend $15000 or less. AP, PP & VC (aka the trinity) make ~100,000 units a year (combined), Rolex ~1,000,000 units a year. I don’t see that $50,000 watch segment increasing 10X. Meanwhile other brands have been busy filling that sub $15,000 watch segment.
Interesting take on the current market dynamics. Also need to consider the effect of the size of the generational components in the analysis. The baby boomer generation is leaving the active market for all luxury goods as they retire. The subsequent generations are smaller in absolute numbers and therefore the overall demand will decrease. Combine this with Rolex potentially being able to flood the markets when the new facilities come online and this will stabilize prices and effectively kill the gray market as used watches will not be able to command a premium over msrp.
Great video and executive summary of the industry.
The grey/ pre-owned market works very well with prices lower than retail. Flippers have a tougher time, the pre-pwned dealers buy low and sell with some profit margin, that existed before the market went crazy and will continue. Watch dealers don’t really care if a watch is over or under MSRP, they only care that they can buy it lower for what they can sell it eventually. Pre-owned car dealerships also exist….
Absolutely! It's delusional for the Swiss brands to think people will always yearn for their products. An entire generation is growing without any regard for watches. And even if they do, they get a smart watch.
Very insightful! Thanks a lot!
Very educational! Love this kind of content!
Thanks!
I agree absolutely Sir! I am personally shifting to vintage omegas and recently discovered the beauty of Cartier´s tanks. Moreover since I am DISSAPOINTED my extra liquidity will go towards to a trip to Japan since I´d always wanted to go and secondly... for a watch vintage search. Cheers and please continue with your excellent analysis.
Yeah, you're doing the right thing. Deals will be better later, so why not enjoy life now. Vintage Omega offers huge opportunities and heritage. Getting there myself.
Overpriced tat. Buy bullion, wear Sieko.
So agree. Even at msrp, it's overpriced. I'd buy one at msrp but never over msrp. I've told ppl to buy gold buy some were confidently bragging that watches will never depreciate hence paying over 20% when it was at the peak. Now they are keeping pretty quiet. 😂
Buy bitcoin wear Lange...bullion has hardly moved in 10 years. Investing in the S&P500 has outperformed bullion massively. But now compare gold to "digital gold" in terms of returns - you'll get the shock of your life.
@@ph8077 Three years ago gold was £1300 - good luck buying a troy ounce at that price today.
Would be nice to be able to walk into an AD and get the watch you want without waiting.
Some models (especially precious metal) are already below retail.
@@mywatchjourney6579 looking for an Everose Sky Dweller with blue dial but crickets from the AD.
Of course you can. Which model and where.😊
@@kelvin.008everrose sky dweller with blue face on oyster or jubilee. Houston.
@@kelvin.008 Everose sky dweller with blue dial on jubilee.
Thanks for sharing
Since many years the new watch luxury for me is an OLED smatwatch!
Rolex are massed produced non-luxury items marketed as luxury items (which is bought into by consumers). They were never worth more than a couple grand. This is coming from someone who has benefitted from their massive price hikes after having owned one for a while...
I totally agree with you. Even for myself, I have stopped chasing the unattainable watches and switched to luxury travel experiences instead. After all how many watches or objects do we really need? Better to share memorable moments with loved ones.
I love the addition of the economics that differentiates this channel, so please continue to do so. The point you made at the end of this video about the number of Swiss watches shipped declining by unit volume is by design. The brands with market share are increasing profits and top line revenue by lowering availability because these are Veblen goods. Plus the big boys are shifting production from steel to precious metals. Unfortunately, many middle class collectors are being pushed aside.
Side note: Christopher Ward has focused on high quality, availability, and wrist appeal at affordable prices to the point where I am seriously considering becoming their customer!
Thanks. The brands that are dropping are not the top of the market. It's more affordable pieces. Overall volume is down.
@@mywatchjourney6579 Makes sense. Thanks for explaining.
A Very perceptive review and a complex one because of the intangible variables. Times and social media are certainly changing the way in which we live. We are only at the beginning of the Ai curve and how that might impact upon lifestyle and the labour market. Those under a certain age might well start to question the entire point of wearing an overpriced and obsolescent luxury wristwatch.
So I will not be buying any more high end wristwatches 🙁. I do enjoy the few I own, but I recognise that some of my enthusiasm is just plain Vanity.....finally 😵💫!
I use AI everyday at my day job. It's clear that it will change the world, and it's not hype.
Rolex was rising prices to the point where people wanted to pay for a watch from gray market. Now people pay for new from Rolex and gray market dealers are screwed
Back in 1976 while on a vacation in Fiji I bought two watches at the hotel gift shop. Back then Fiji was a duty free country, I don't know if it still is today. One watch was a Rolex Explorer 2 and I paid $285 US. The other was the Omega moon watch which set me back $195 US. My point is that without all the hype these watches are not worth anything near what they sell for today. I didn't even really like them so I eventually traded them in for a vintage18k gold Omega Constellation which I still have and enjoy today.
That vintage gold Omega has also caught my eye! Not getting into vintage just yet, but I will one day. I need the requisite knowledge to do it properly.
I received my first watch as a gift when I was 10. That was 1986. I have been collecting watches since. I love that Rolex and the market as a whole is crashing. I dont care about what any of watches are worth. I just love watches. The cheaper the better inmy opinion. A watch should not go up in value unless its rare and there are few models.
We're moving toward a more sane market. It will take some time, but we're getting there.
The price in chrono 24 or watchfinder for a rolex perpetual 40mm stayy verh high,6500 in rolex store and 8500 in grey market,and i dont see drop the price unfortunatly
Good one! A helpful opinion regarding the market trend.
With one side note: Rolex - the master market controller - will adjust production and probably postpone or limit factory expansion to keep hype in check.
There will be more watches available, no doubt, but not truck-loads :)
No, they can't fine tune production in that way. The build up of facilities is a step function. The massive fixed costs make it necessary to produce a set minimum volume.
I agree! 2 years ago Rolex could have had sold me many models, Today there are 4 models only, I‘d be interested in. To me, most of their watches models are no longer interesting enough to buy them at msrp
I'm waiting on my no date Sub, and that's it!
Excellent video!
This is the only video I have seen that effectively uses economic theory to describe the luxury watch market.
I have one suggestion to improve the video. You should leave the graphs displayed for a much longer time. (1) the viewer has to pause the video to read the graphs and (2) the alternative for not displaying the graphs longer is to display the speaker talking, which provides almost no value.
Ok, noted! But I thought people enjoyed my handsome mug ;-)
The recent crash in the Rolex market is a wake-up call for investors
It's crucial to diversify beyond luxury goods. The global economy is volatile, and putting too much into assets like high-end watches can be risky. I suggest reallocating some of your portfolio into more stable investments.
Investing with a long-term perspective is key. I’ve seen my portfolio grow by 20% this year by balancing traditional investments with luxury items, guided by a professional adviser. Maybe it’s time to seek expert advice.
You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I've been with Eric Paul Elmer for the last five years or so, and his returns have been pretty much amazing.
Let's keep it simple: resellers are dumping their reserves. I suspect they constitute 70%-80% of the market. This leads to negative trend in pricing, that also pushes back further flippers and money launderers
Please keep making these professor… writing my CFA and a huge watch nerd this makes everything make sense!
Good luck on your writing!
Excellent presentation on economics. Easily understood like the writings by Charles Hugh Smith.
Great analysis. On point 👊🏻
Glad you enjoyed it
To be honest, I haven’t noticed any large price difference in my watches I’m still getting offered above retail price for my watches.
When I croak (hopefully 50+ years from now) I want to make it convenient for my relatives not to move too much junk I left behind. I want a minimalist lifestyle, Food shelter sensible quality clothes and TV plus books is all I need.
The affluent population will, of course, remain. Therefore luxury goods will always have a market, a very picky market where buyers for those goods do not have a resource problem to "afford" the good, but rather prefer to differentiate themselves in alternative ways, mainly exclusivity. That's why a blue or green dial Rolex will command and trade for a premium. Anyone can have a day-date...but not everyone can get a green/blue.
The people at the top are not buying Rolex.
What was your AD experience at Tourneau? Just got on the list at the same AD. Supply still seems to be constrained by the watch scalpers.
Steve is great! He got me an OP. But still on the wait list for a Sub. Scalers have left or losing plenty of money. Good!
At ceasers was great.
Been traveling the world and Rolex AD still only have exhibition pieces. Prices have definitely fallen but still above pre pandemic.
Don't fall for the show. They have plenty of watches in the back.
@mywatchjourney6579 They have plenty of watches in the safe, just not willing to sell to you.
No matter what generation will come. Antiques and art has been a core human interest as it has been used since the dawn of time.
Sadly, interest in mechanical watches may be on the last legs. Becoming even more of a niche than ever. How many people do you see wearing watches?
@@mywatchjourney6579 all most most of people during special occasions
To enjoy memories you need time and we dont have it because we need to work. So I partially agree
All those watch brands know the average person is having financial challenges from inflation, so their response is to…jack up prices. Everyone thinks they are Rolex, without realizing they’re just the “spend history” purchase.
That is very true. And that is why the brands are eager to create their own spend history pieces, Rolex had OPs, Datejusts, Airkings, Milgauss, Yachtmasters for that before eben they became hot LOL
So you're telling me this is the first time in the last several millenniums when people realized they will die sometime in the future and now they are prioritizing experiences? 😅
Of course people are eager to enjoy free time and wide spaces after they were locked in a closed space for a pretty long time, but that will fade away together with the memories of the pandemic times.
People alway appreciated and will forever appreciate nice jewelry pieces.
But it's true, the inflation cut deep into the "economically relaxed" people's pockets (reserves) and they're not having right now the perfect mindset to buy an expensive jewelry piece.
I’m not convinced that things will really normalize. I don’t think the demand elasticity is there, and prices are always sticky upwards. I wish it wasn’t the case. But I won’t play the games - too many other great watches and I don’t have to deal with slimy ADs.
Actually, the demand elasticity is already showing. The precious metal pieces are already below retail.
Cheaper brands from swatch group and others are nearing the gap between high end watches with good quality very accurate time pieces that are making it harder to justify the cost even though they will always be people who want the exclusively of the brand.
Some people are definitely moving down market. Others are leaving the market altogether.
Even if Rolex increase production to 3,000,000 watches per year, they will sell every one of them. You didn’t bring up the crucial pony in history, about 2006 when a Submariner costs $5,900 and Panerai Luminor $9,000. Many other watch brands were also Hyperpriced. This allowed Rolex to easily charge more for their watches. Here we are today, because of pure greed. Real men wear Panerai!
Real men understand the value in luxury items is assigned purely via social construction; real men realize luxury watches arent worth even 5x less than their stated price.
A Rolex cost less than 400 to construct so its retail price should be no more than 2500 but marketing and artificial supply and demand has raised it price. Look at Tudor....no shortage of that ugly Rolex brand. Why is that?
When the day where you can walk into the ad to buy at MSRP , those who are bragging to be client for that are EXACTLY those who wont be there to buy because you'll be broke and trying to survive .
Truth to what he's saying. I bought a cheaper $1000 Swiss watch , got my passport, and been spending my extra money on travel, not on my wrist ! I'm even done blowing money on fancy cars, don't really care anymore. I just travel , and hang out with my friends now.
Even market crush but I still wait for my Blusey more than 3 moths now, got a Tudor GMT purchase history don't know why take so long for this model, everyone say is a easy model to get😔
You can buy it now below retail on the used market. Even unworn copies. There are deals out there. Check my next video on the grey market.
I think this shift in consumer spending priorities may be linked to to age. The younger consumers are still more materialistic.
Many younger people are concluding they don't even need a watch.
Excellent video!! Also, by outsourcing component production to Asia, luxury manufacturers essentially lost control of what was once their intellectual property…in short, they got too greedy….
The largest driver is not consumer behaviour. The crash was an old fashioned investment bubble collapse, not so much to do with the consumption of a product.
A bubble is by definition based on consumer behavior.
The market has shifted to investing in precious metals. An omen of what's coming?
im waiting for the right time to buy a preown daytona:)
Guess what. Some of the older references are now below retail. No kidding. Especially the precious metals. I'm editing a video explaining why.
@@mywatchjourney6579 ya...TT & older gold models
@@mywatchjourney6579 yes .the TT & older full gold
Explorer! 👏
I am looking to buy a GS instead of Rolex this year, somehow their new range doesn’t appeal to me.
I did the same, bought the Morning Frost and love it!
The videos of the mass wholesellers throwing around 100 of these watches on the table showed people that the pieces are not rare and easy to get. Gold and silver will always be king
I hope it keeps dropping imma get a rolly
I’ll just wait for. Recession. Currently in the USA the money that is in money markets just exceeded 7Trilllion. Cash waiting to be reinvested.
People were locked away for years therefore at present are now taking advantage of the freedoms! This will settle down in the next few years !
Don’t be too surprised that Rolex new releases are NOT steal watches but precious metals and new prestige models ! As a business this is a much more profitable option than flooding the market and killing residual values in which Rolex has invested in dramatically in the past two years!
That would be a bad move. Precious metals are already trading below retail. Flooding the market with even more would mean sizable discounts at the AD.
This can be seen in the micro brand watch boom. I enjoy my BLRO yet I equally enjoy my Pitzmann III Chrono Ice at 15% of the retail value of my Rolex.
I'm very curious about the brand, since I"m Korean. I almost pulled the trigger on the Pitzman I. But I don't like the Sellita SW200 series.
@@mywatchjourney6579 the movement on the Pitzmann III Ice is true and tried, Seiko 8r48. It’s one of the best movements.
The Pitztmann III Ice uses the Seiko caliber 8R48 movement. The same found in the Marinemaster 300. Beautiful watch, one of my favorites.
The DeBeers of watches. They have stopped making them, they’ve only stopped selling them. Like Porsche did 10-12 years ago, they made fewer cars and raised prices. Still made record profits.
The only watches I buy are Citizen Eco Drive. They last forever and look great all the time and are cheap, relatively.
I love my Citizen Garrison field watch. Amazing fit for my wrist and light weight titanium.
With AI, 3d printing and all other technological advances, hard to believe movement/design created few decades back still carry premium!🤔
Huge overhang of overpriced watches still for sale by grey market watch flippers. They are stuck holding bricks they can’t move. The only way to achieve fair value is by breaking the cycle of overpaying for watches. I refused to over pay and while it was hard to wait I got my GMT from Bucherer in south coast plaza from Steve (great guy by the way). I was so happy to get my watch at retail avoiding the woodshed of the grey market flippers who fleece people out of thousands of dollars. Now is not the time to buy if you can’t get it from an authorized dealer. Superclones will eat up demand as people stop overpaying for steel watches and you literally can’t tell the difference out in public. This happened to Nike with Jordan sneakers. The sneaker market collapsed and has never recovered. Greedy flippers killed the sneaker market. Luxury watches are about to experience the same thing. If people don’t want to pay the premium and AD’s want to play games people will go the path of least resistance and purchase a superclone for pennies on the dollar and go enjoy that life experience you’re referring to.
How long was the wait for your gmt?
Congrats! I got my blue dial OP from him. Yeah, he's a good guy!
What crash? Rolex is still uber expensive and hard to get. But, I take your point. Personally I'd rather take a few cruises or buy a camper than buy a Rolex. I value doing and experiencing over owning.
As for memorable experiences, I’ve got a lifetime of those already, so Hello Rolex 🤣
Getting my first Rolex was memorable too haha.
obviously post pandemic, people are starting to travel more, but materialism is still rampant. whether it's luxury watches, bags, or high-end cars, people are still flexing their materialism. the have-nots are struggling to pay for housing, ever increasing energy costs, and fuel prices. i personally don't see the increase in experential luxury as you state in your video
The luxury brand companies are bracing themselves for a down year.
Supply and demand…
Tulip 🌷 bulles again.
BTW, Rolex is to open a new factory producing an additional 1m p.a. In 2025 or 2026
All other luxury watch brands will be on the downhill trend but Rolex is the exceptional as it is not a watch but a form of currency, as solid as gold i think.
That notion is part of it's marketing. But historically, it hasn't been true. You could buy Rolex at retail for a discount.
Not clear where u get the data based on your analysis (charts etc..)
I stated in the video that it comes from watch charts
Buying and owning a Rolex is an experience too. Not sure how you are distinguishing material goods and experiences here.
Well, you can't say it's the same as a trip through Europe.
What an incredibly interesting and informative piece this is!
I guess the shorter attention span that younger generations have makes them less attracted to the allure of a “luxury” watch too maybe?
You paint a rather bleak picture for Rolex especially as they are building a large new manufacturing facility which should boost the supply side.
The younger gen love their smart phones, right? The Apple Watch outsells the entire Swiss luxury watch industry by multiples.
Back in January when Rolex had the fine from French authorities what came of that? It’s not been reported on since
I ordered a beautiful BOLOX quartz watch from the ephemerous company called "The Jewels of the Family" based in the UK. I have a much better success showing it off than if I had bought a pale ROLEX imitation for 100 times more money. My BOLOX was priced 50 £ and delivered within days.
Any average quartz mechanism is more reliable than the most expensive chronometer. Now I wear a Casio wave captor. For years, it will show me the time with a perfect accuracy. Except underground (I am into mining). But then, a standard quartz movement takes its place automatically. For 40 USD.
I am in contact with only two really wealthy people. They don't need a fancy watch to prove it. Their peers would laugh.
Very true. The top wealthy people are hardly impressed by Rolex. The CEO of LV said their products are sold to the middle class.
Every watch youtuber has at least one rolex. LOL. What a herd.
what does all this help me to get a Batgirl when 100 others are on the same list at the AD
Those will go for retail by next year.
Rolex watches are so ordinary with its appearance, maybe high technical craftsmanship but aesthetically it is such an ordinary design they need to rely on a lot of marketing to upkeep its upper class status
It's for upper middle class to show off their status mostly. I do love their watches for build quality.
but submariners are still above retail, wheres the crash?
It's way down. Only a matter of time. 90% of Rolex is under retail now.
I stop worry about owning a watch for over 16 years . My phone have the time .
whatt.. i am about to buy a datejust 36 retail and it was 8200…now it got from 8,200€ to 9200€ in half an year and im still on the waiting list for mine .. the 41mm is already 11K… retail prices are skyrocketing, also resale price in grey market.. a 41mm datejust jubilee blue dial is at 15-17K ..
Where are you buying? The market data clearly shows the opposite.
@@mywatchjourney6579 Austria/Vienna. i checked prices at Rolex AD - Schullin im Looshaus (9350€ now) where i ordered the dj 36 silver dial jubilee .. and i checked prices in local cerifified Rolex resellers like ChronoThek & TheWatchFirm. the watch i want isnt available in the reseller shops anymore so im waiting for my order at the official Rolex AD.. the waiting time for dj36jubilee is 1 year.. blue dial 41 jubilee 2,5-3 years ( 10800€) , and for a rolex submariner 10 years.. kinda insane. is it because Austria is such a small market/country ?
Market is going down from the hype so simple + smart watches offer more functionality + interest rates + Rolex is not a true high level brand but a marketing brand with loooots of supply. Be serious Rolex is not Patek nor Lang Sohne nor RP Journe. It is a mass market like LV bag is not a Hermes bag.
FPJ is a dream watch for me, especially their blue chronometer. But I'll can't afford it.
The bottom line is that the Grey Market, flippers and back door AD’s have created this market that went from 2019-2022. 2022 after the spring was showing the cost of money rising to the heights where we are now .
Rolex prices from an AD has not dropped, only the Greymarket prices have dropped due to several factors and number first was the amount of Greed and Hoarding by flippers and grey market dealers .
Buying up Daytonas and Pepsi’s thinking they would make 30k profit and now struggling to get rid of the same watches .
All this and we are seeing 2024 watches and wonders releases already in the hands of Greymarket dealers and not even a month out of Watches and wonders . AD’s ?
Time will tell but one thing is for certain, the bottom has not fallen out of the US economy yet .
My next video is an update on the grey market. Look for that!
Suggesting to invest in your freedom and good time and relationships ever and not in goods or money
Never paid above RRP for anything. 😂 especially watches.
So in short, in COVID we were all board and didn’t have anything to spend our money on, we bought Rolex watches amongst others. COVID finished and we wanted to go on hols again….simple
You forgot the bit where they treated consumers like crap.
They are certainly damaging their brand. I'm going to do a video on that too.
Tulips
Once the flippers stop selling to each other and start moving on, the market will stabilize. If you buy something else you’ll just want to sell it to get what you really wanted. A Rolex
I hope to one day own a Rolex.The way the economy is going it isn't looking to good. I am living paycheck to paycheck.
I'm truly sorry to hear this. Hope you get a Rolex soon!
Good that the prices are dropping on watches, everyone is sick and tired of grey market prices and AD’s playing games, good that people aren’t buying watches anymore.
high quality replicas now flood the market. expert watchmakers often have a hard time identifying reps. reddit has subreddits dedicated to reps, instagram allows ads from rep sellers. luxury brands don’t appear to be fighting back.
At some point, I will do a video on super clones. Watch for that.
You forgot to mention the high quality of super clone counterfeit Rolex. I want to buy one, but I know I don’t have the skills to find a real one. And I can’t afford full retail price. So I just don’t buy one at all.
With millions of units produced- I am baffled by why ppl think Rolex is a luxury brand. Beyond me.
The watch market is dead as soon. As these new models flood in and the world continues to fall apart another 15 percent by September October
There's money to be made, but first, the grey dealers have to face reality and dump their stock.
Because it’s no longer the leading watch maker. That’s why. Lack of adaptation can lead to the failure of any business.
They still lead in luxury watch marketing lol
And don't forget Rolex owns Bucherer.. 😊
I did a video analyzing the purchase. The actual purpose might surprise people.