Now we know! New Rolex rumours!
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- Опубліковано 3 гру 2022
- We have a full perspective on the news from Rolex and there are new rumours in circulation.
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People are being turned away from Rolex. I don't think this will be good for the brand in the long run. Starting to feel distasteful.
Everyone I talk to who loves watches feels the same way as you. There are times when for fun I walk into my two local Rolex ADs and ask them "when did you suddenly change your business model to a museum for Rolex?" They give a very upset look on their face when they know people are onto the scam.
@@romanmichaelhamilton8729 100% I would not want to be associated with the hideous marketing approach. Shops which are just museums...
Thanks for letting people know about the new Rolex program and their prices. Good to know. To me, its obvious that authorized dealers and Rolex need to capitalize on the secondary market. This way they do not leave money on the table. It also furthers the value proposition for new purchases.
The Rolex certified pre owned is designed to get the frequent authorized dealer visitors (a.k.a. aD Dwellers) to sell their AD purchased Rolex to the AD (at low price) so they can get a promise of a “relationship” with the AD. The new Rolex models will still be sold to “special clients” then flipped grey dealers. The flippers are an essential component for ADs to empty the store of rubbish (ladies watches, jewelry). The refurbished watches will be sold at a mind numbing profit to the authorized dealership dwellers. It’s all about the profit of the ADs and the grey dealers are their essential way to get rid of the unwanted Cellini.
Do you think the ADs sell to their buddies, the grey market flippers and they have a back door cash transaction where they split the extra profit?
Well I’ll never own a Rolex. I guess I can keep my Tudor. Repulsive behavior and greed.
Yes… some do. They sell to friends or family’. Who sell to reputable used dealers. From there these watches change hands and prices increase from dealer to dealer. Or AD’s sell to friends or family. In turn they sell back (or ) give back to a subsidiary used jewelry (same owner) store and add a premium. Used dealers really don’t make that much profit off hype watches. Unless they buy from guys who just flip watches. Say I get lucky and get a Pepsi at retail. I can sell to WatchBox. They offer $18k I win…. They sell for $24k, they win… The sucker that bought from WatchBox at $24k he takes a chance on losing or winning very little. That guy will not get $24k if he sells it to say CRM or Luxury Bazaar. They might offer that guy $20k. So sales profit margins are really low.
All you really need is one Rolex. They are great watches but unless you’re a collector. Most guys will be ok with one or two. I own a two, vintage 5513 Submariner (full kit, from 1972 unpolished) and my go to is my 2021 Explorer 36mm. It killed my desire to want to buy another Rolex. My collection has come down to Speedy pro, Explorer 36mm, Submariner 5513, JLC Master Ultra Thin small seconds. I’m ok with that. All under the radar, non hype, strap monster, versatile use watches.
Nailed it.
Some people think that Rolex ADs are hurting because no inventory in the case. Trust me the ADs are just doing very well with the business
The edits on this are priceless 🙌🏻. Nice work
Good take. Plus the service papers are a guarantee that the watch is not a stolen item, since presumably Rolex Service verified that against their stolen log before they proceeded with repair.
This is round one. Like always it will adjust and change over time. All the best, love the channel
And that 20% cut in production thing sounds like the 30% cut reported last month that was disputed by Rolex. The guy that started that one up cut the figure by 10% to see if it would get traction this time. A lot of speculators desperately trying to hype Rolex back up to dump.
Good advice. I was thinking the same thing - there is little to no difference between a certified pre-owned watch and a serviced watch with service papers/warranty. The main difference is the price that you pay!
Sure Rolex's are nice. But not nice enough to:
- pay through the teeth;
- be forced to be treated like a begging chump from a dealer'
- be forced to buy a model you do not want so as to eventually buy the one you want (at an absurd price); oh and importantly
- if you wear a rolex out, your risk of getting mugged increases significantly (can you even insure it for its market value)
I'd love a submariner, a GMT or a nice date-just and that's about it, but I'll stick to Omega, JLC, Tudor, and the high end German brands for the foreseeable future.
I was so right !! I knew it from the first official rumor about that cpo !
Bucherer has priced all their watches far too high, they have done so for a long time. When they trade in a watch, you get a ridiculous trade-in price.
I agree with you. One or two AD’s ridiculous prices do not indicate a universal market trend. The market has been dropping and I believe it will continue do flatten a bit more. Rolex certified preowned gimmick in my opinion isn’t going to have much effect in the rest of the pre owned prices.
There is an old saying......."a fool and his money is soon parted" . Anyone spending 65K on a Daytona is crazy.....
It all depends on demand. And both the enthusiasm and demand are steadily dropping. We’ll see what happens.
I’m glad Peter got the watch back and a phone call. I recently purchased a blue Nomadic Marai and absolutely love it as my daily wear. I communicated with Peter during the process and he’s a true gentleman and stand up guy.
There's a lot of wishful thinking about how grey market Rolex will maintain a high price. That's not going to happen. The coming big influx of Rolex watches ftom the economically devastated Chinese region (one of the biggest luxury watch markets globally) is the main reason for this. Already here in Germany there has been an influx of Rolex and AP from Chinese owners, and a friend in Switzerland has told me it's happening there. My Irish colleague based in Istanbul, which has a sizeable luxury watch market itself is seeing a big influx of watches. The old Silk Road between China and Turkey seems to be carrying luxury watches! I have a Daytona and Submariner myself, but they're staying in the family. Value is not of interest to us. The reason of the timing of this is simple. Rolex wants to get control of this huge supply which will be hundreds of thousands, at the minimum of Rolex watches. The Chinese luxury watch market has been in excess of $10 billion each year for the past 10 years. $100bn. Imagine how many watches are there. Imagine if only 5% of those watches suddenly hit the global market? That's $5bn worth of watches. China has been a major cause of Rolex shortages. Now they're suffering from a financial crisis, a property bubble that's bursting, lockdowns, political unrest. China will now become the cause of the biggest oversupply ever seen. The nouveau riche of China are cash strapped and are starting to sell anything easily converted into cash. Many people are trying to fool themselves that the tsunami that's coming doesn't exist. But it is, and it's started.
All you said there is totally true, the Chinese has been in the forefront of driving the prices up and up and up. This has now stopped, and prices are steadily coming down. The insane prices AD's will try to charge for these second hand watches is ridiculous and will not hold water. The hype is over. Personally I have many Rolex but mainly rather old ones, the newest I have is a 2012 but even that has been discontinued and prices have just dropped a little bit as it was never really a hyped model.
62.5k for daytona? they must be smoking the wrong stuff through the backside.
Really great video, Love the walk and talk format with Venice as a backdrop. Rolex have seriously lost the plot with this Pre owned scheme, 62k for a 2nd hand Panda that this sell new at 12 k ???????? come again with that one Rolex ?????????
Well, now I'm getting used to seeing parts of Venice. And that's kind of cool.
Spot On! Great "inside" information. A scam some would say. That is The Rolex-certified pre-owned program.
This video is absolutely profound and very true. You can pick out an exemplary used Rolex W/O box and papers, have it fully reconditioned, and end up with a superior Rolex while with warranty while saving minimum $5,000 US.
Great vlog great advice. Enjoy
Why would ANYONE ever think the prices would be lower, or even equal, to the Grey Market? Get the security of the ADs, with a RSC refurbish, and a two year warrantee. “Should” run at least $700 OVER Gray Market.
Boom. Correct
I’ve been waiting for a call from my AD for 3.5 years now.
And then Rolex did this. OMG!
What is that watch on the tray?
It caught my eye.
Thank you for another great video
Great video and I love this version of the Theme Song!
Wonderful to see Venice in this atmospheric condition.
What interesting times we live in! I really like your idea of picking up a watch and sending straight for service.
The bell of realization, as the bell at the Palazzo San Marco rings! Love it! Great videos and reviews, sir.
ok im 39 seconds in and LOVING this new theme intro. Was never a big fan of the Hurt theme but this is awesome. If we cant have there original this is the 2.0 Oisin/Timeless intro we need.
Thanks for the update 🥃
nice tour, content and video editing. thanks Mr.Malley.
@@DMC.104 thank you! what is it?
I’ll happily buy a Tudor or Omega
Get the Omega, Tudor is far overpriced for what you're actually getting.
@@romanmichaelhamilton8729 I was just about to say this. Tudors are shit for the money.
@@UCZ15
Seriously 😂 The 41mm Titanium Blue Pelagos rivals the Sea Dweller in specs and is less than half the price of a sub date.
@@UCZ15 nonsense
@@WoodmanNH having held and handled a fair few Tudors in the past 3-4 years, even borrowing a Black Bay from a friend for a while - I don’t think Tudor are quite there. I wouldn’t want to own one as a stopgap, I’d rather save and wait for the better bracelet, clasp and movement.
By the way all the grey dealers are ok with this. All this “supply side” manipulation is meaningless if the buyers aren’t there. Where do we go? To Omega, Breitling, etc.. I like the new Glashutte Original annual calendar. Probably in steel next year.
The jaws clip nearly made me spit out my morning coffee. I think this is going to really detour many people who were willing to put up with some of the BS. There is a breaking point and this has reached the mountain top of nonsense. Rolex will always be a sought after brand, but they are ruining their image that was already on thin ice. No longer an aspirational achievement to get a Rolex, now it’s just simply out of reach for the majority of people.
not a bot.. and a big thank you on the top top end editing and nice data !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
That bell right on time 😄
great video and Oisin is absolutely right.. Saying that, I still don't want pre-owned but I unstand and agree here.
What seems very Odd is Bucherer dont seem to state the age or year of the Watch on their website? You’d have to ask.. weird. Some may prefer the security of buying pre-owned from an AD (A bit like an Approved used BMW) but there will be a premium …. Unless they start discounting :-)
Great vid as usual mate. Stu
Oisin - the new factory is actually to provide a major increase in RSC capacity to support the Certified programme
happy early holidays! nice work once again.. ITALY looks fantastic ! $Venice
Thanks for making this video. You took a big rock of our collectors shoulders and probably stop the panic sales.
BTW, good to see Venice is no longer flooded. Keep up the good work pls and thank you!
Of course whilst they are asking top money for the watches I am wondering how the whole white pouch and certificate will affect the resale value as its not clear if they will pass on box and papers with the sale or remove them altogether which will then affect the resale unless you return the watch to Rolex? Great video BTW all the best Tony
AWESOME INTRO- Kick ass!! was that Emitt?
Enjoy your videos,. Always thoughtful and keep reporting and commentating on Rolex, please.
I’ve witnessed several Rolex Certified for sale in San Francisco with over-polished lugs and overall signs of use selling for $5K over market.
*Its crazy*
My wife heard the word "moist" 3 rooms away... did he just say "moist?" hahahaha. Great video!! Gray market will only continue to prosper with these new shenanigans from Rolex.
I've never thought that "No papers" was ever a problem. Even if the watch is old, as long as the last service was from Rolex, then it's as good as new.
This will turn people off of Rolex.
Not everyone, but many.
The only risk to the scenario you described is that the watch somehow comes back as stolen. Rolex will confiscate the watch and presumably the buyer will lose their money. Also, let’s see how the this program progresses. Will people actually pay those high prices? Or will Rolex have to adjust their prices to be closer in line with what people are willing to pay at a gray market dealer? Only time will give us those answers. I know I will be paying close attention.
I am still holding out my hope to recover my stolen (from gym locker) Dayjust. It's not the watch but the event or backstory that watch marked that's meaningful.
@@1millionstartups 🤞Hope you get it back!
nice work........................................
That intro is awesome Oisin
great information
Cool video, Oisin
I just came back from a month-long trip abroad where I had visited at least 20 Rolex stores. None of them had Rolex watches. The salesmen looked bored. What is the point of having Rolex stores anymore, especially at airports. Rolex stores are a bad joke at this point. Why keep a store open if you have no product to sell.
Most Rolex AD's sell other brands too.
@@truxton1000 These were Rolex stores and they were empty stores.
@@reynardus1359 As I said; MOST sell many brands. And even these pure Rolex stores need to do work as they get watches in that is already pre sold, and they process them through to the owners. Also they give information to buyers but to be fair most are so called "old customers". But still, I have looked at Rolex watches in these shops, asked questions etc. Of course when they will get pre owned watches too they will hopefully get more busy.
@@truxton1000 Yeah, I am sure airport outlets pre-sell many watches as they have a steady clientele that just happens to fly through those airports all the time.
Keep up the great work Oisin! Love the channel. Best regards from County Cork 🔴
County Cork is beautiful, best wishes from County Down.
I am still going to buy all my "Heavy Hitters" from the ADs because they are not tugging in the shadows or wearing the inventory to steak dinners while flake flexing!
Oisin, this vid is your best, superb movie clips, laughed all the way through!🤣🤣🤣
All the ADs have to do is match the prices in the grey market. Customers will always prefer the certification, if the premium is minimal. And there's enough margin on the hype models to drop prices and still make a profit. It all depends on the spread between retail vs used market. This could in fact drive down the market.
The problem for the ADs is the cost of mandatory service for the CPO they have to Cover first and ofc Transfer to the Client. If the premium for cpo is not there or minimal this is just a bad Deal for ADs. And depending on the Service needed 700 to a few thousand is around the usual profit margin for a steel watch.
Rolex is artificially bringing the market back up on pre owned. Which is essentially them trying to prevent a crash on prices on their own brand or them trying to prevent their brand from being viewed as less “wanted” which is where it’s heading just simply due to the arrogance of the brand and that people are tired of the Rolex “tax”. It’s actually a desperate move and very obvious.
A GMT II Rootbeer and a Daytona Tie-Fighter that's it 🙌💯
Beautiful practical pieces i.e. multiple time zones and time lapses with chronograph
Ultimately this will drive up the demand, price and exclusivity of new Rolex watches, Rolex are masters in marketing
The very best thing to come out of all this? Olsen sharing his brilliant idea for buying used and immediately getting it serviced by Rolex. The second best thing is for all of us wake up to the idea that instead of hating on the gray market - appreciate that markets only exist if they serve to fulfill a demand at a price people are willing to pay.
Only a fool would pay over market for a Rolex. Even the manager of my local Rolex AD told me that. They are too getting tired of hearing their customers complain, so they are looking at other brands this year. It costs these ADs a ton of money to have Rolex logo on their walls, but with having no product to sell, and with with incoming recession, some of them may just quit the brand altogether.
@@romanmichaelhamilton8729 I would have to disagree with you. There are many people who buy rolex above the retail price at the grey market but they are no fool, otherwise how can they afford to pay such a high price for a watch. They are smart people who know how to generate huge income making at least hundreds of thousands annually, and to them, even the over-priced rolex watch at grey market looks like a budget cost to them (comparing to luxury sport car and house). We will not know if we will live to the day we get a call from AD to buy the desired rolex model. So if I have tons of money and my desired rolex watch is readily available from grey market, I will just get it now. At least I can wear it more time in my lifetime as compared to missing couple of years of waiting for AD call. And regarding the AD having no product to sell, that's not true. They have been selling many rolex watches month after month. It's just that the moment the watch arrived it is sold almost immediately to the people in waiting list.
@@romanmichaelhamilton8729 open your eyez Roman
@@johnheng3277 I agree with you you really need some Brain to generate that kind of money in a year !
@@tfrank7161 Open my eyes to what exactly? How Rolex is part of a con job to extract more money from gullible people?
Love the new intro, mix of old and new. Great content as usual Oisin! Cheers.
Got my YM40 Rhodium at the AD last week, and with the Sub is the last thing I wanted out the Rolex catalog. Happy to be out of the crazyness.
They can ask all want but if the watches don’t sell they have to drop the prices. The market decides the value not the seller.
Totally, and most people on these watch threads does not get that at all. People in generally have a very poor understanding on how a market actually work. What decide the price is the lowest offer. If the lowest offer sells in one day the next offer will be a bit higher, if that too sells quickly the next offer will increase even further, until the watch sits for maybe a week before it sells, that might be the market price. If the watch does not sell in a month or two the price will come down a bit, so it goes on. Prices are now coming down so whoever buy a second hand watch from Bucherer for 120% over list with a promise on being allowed a new Rolex at list later will take a considerably risk for sure....
Dig the new intro metal/classical mash up Oisin!
the standard "modern" rolex daytona panda costs on chrono24 currently about 30k Euro and a dealer would buy it for 27k. Rolex is asking 60k for refurbed one with the "rolex certificate" thats insane. the idea of buying the watch on chrono24 and giving it to a rolex service that costs about 1k is very smart. at the moment the rolex-service is accompanied with a (green) rolex warranty card. i expect rolex to cancel this warranty card in near future to push their expensive certified sales (cream card) and they might only offer a plain paper service-invoice instead of the old service-warranty cards.
If they really want 60 they will of course never sell it, not even if they promise the buyer that they later can buy a new Daytona at list price. It's that simple, so this is no threat to the grey market dealers at all.
Oisin, spot on with the CPO program, I also think it’s still interesting that authorized dealers are attempting to sell a Panda for 60k and a no date sub for over 120% of Retail .
The only thing I really see happening is that more people are going to be trading in their old date just or Submariner for the latest and greatest and be put on a ‘’ expedited’’ wait list for a new Rolex.
But for the AD to buy a watch at 25-30% below retail that is the kicker because as you just said , the only cost that Rolex Will have is the 700-800 service that it will cost in most cases .
To be sure the AD could also be on the hook if a bought used Rolex didn’t have authentic Rolex parts and then that AD may end up taking the loss on the watch , unless they have an in house Rolex certified watch maker that can authenticate the movement .
It’s going to be an interesting ride these next few months .
The thing is; I can NOT see ANYONE that would want to pay 120% over on a second hand Submariner if you can get a watch at a much lower price in a normal grey market dealer. The only people that will do this are the ones that will be given almost a guarantee that they later will be able to get a new Rolex at list price, I doubt very much Rolex will give such a guarantee. And still the prices are falling on new Rolex on the grey market so who will risk it??
Wow pricing is mental
Hate to state the obvious but there are other quality watch makers. You can live without Rolex.
Very cool review
Could Rolex’s next move be to make their new watches available, but at more than the used or grey market prices, realigning their brand value. If people are prepared to pay the used prices, then why not?
It’s crazy!
We're gonna need a bigger boat!
Maybe that's Rolex plan to drive the secondary prices up so that the decision is becomes either the shady grey market guy or the AD with a warranty. sounds pretty genius to me.
That gold sub is so badass man
*My problem is: the new watch (for example, the Big Clam Perpetuality with a turquoise dial) is listed at U$ 5,900 but requires a 2+ year wait BUT the 4-5 year old refurbished model costs 8K and you can have it THIS FECKIN’ WEEK. Time is money, right?* *_I am now suddenly a HUGE Omega fanboy._*
I know little about watches but starting to research and was looking at buying a IWC.
Now I start to think Swiss watches are overrated for the money (especially when I see that the ETA movement is assembled in Thailand) and think a Seiko could be a better buy as a quality watch, not just as an investment.
@@johntheaccountant5594 Grand Seiko definetly punches above the price tag with finishing and movements. If you like the japanese style of their watches and are tolerable of some drawbacks with bracelets - try them out
Glashutte and A Lange Sohne are great watches, fuc it get a Sinn.
plus the trade in on these watches when your waitlist call comes in.
Price+availability+warranty+creme kit= Rolex Wins!
fantastic and accurate analysis. not to forget that bucherer is the same dealer for new as pre ownes watches. „sorry, we can't offer you a new submariner, but you can buy a pre-owned one for three times the price.“
the fact that the pre owned program is nothing more than regular service is ridiculous. Wtf
I was actually thinking on buying a Rolex eventually in my life when I had saved all the money for it, However during the last months I realized that even though they are great watches... A) there is a lot of fake ones, B) they have become the watch for rich guys with no sense of class . ei. Rapers, Football players, Reggeaton Singers, Drug Dealers, and the list can go on. It brings me back to those days where Versace and Gucci where also popular among the artists such as Tupac, and BIG, and the truth is that I thinks is best to have a great beautiful and valuable watch that will make you different that the rest that follows the trends of the POP culture and the Social Media. I think is better to pay money on an Omega for example, something that it is actually a much better movement than a Rolex. Well this is just my opinion. Thanks for explaining the rumours about Rolex new strategy.
ssst. sssst. sssst. That lady at 3:49 was wondering if you had a rolex on. lol
Price discovery will be interesting. Will pre-owned split into 2 very distinct tiers? Or, business being business, will existing dealers bulldoze asking prices into an orbit near to the manufacturer’s eye watering ask? Popcorn at the ready. Totally agree on the move to get a beater, then have it serviced.
I am still going to buy all my "Heavy Hitters" from the ADs because they are not tugging in the shadows or wearing the inventory to steak dinners while flake flexing!
@@donkeypox1943 lol … “mint condition - never been tugged”
@@RoryMacdonald-pfff Zackly!
A lesson that Rolex ain’t your friend.
Rolex was not liking the decrease in prices lately so they needed to do something to get the prices back up?
Did you program the drums on your intro?
One issue could be if the watch is stolen. After 5-6 yrs you decide to get it serviced at RSC and they confiscate it once they check the serial number.
Totally, I have older Rolex and I will never risk Rolex getting hold of any of them for several reasons, one of course is that it was stolen. Most of these Rolex'es has as far as I know not been serviced by Rolex so maybe some are stolen? As there is no way to tell for anyone unless you are Rolex it could well be. Not sure if grey market dealers can check if a Rolex has been stolen?
Yes it could be both stolen and fake, better stay away from service
@@larsstougaard7097 Not fake, but possibly stolen. Fake watches are not a problem really, what they call super clones are not really super at all, easy to see which ones are fake. If you buy from a reputable grey market dealer like for example Watchfinder the likelihood of buying a fake watch is literally 0.0%. But not sure how Watchfinder and their likes check if a watch is stolen if they can't access Rolex stolen register? There are other registers for sure but will it be enough? Not sure.
The AD - makes money (selling)
Rolex - makes money (servicing)
Customer - are happy cos they can finally buy a Rolex now. (some not all)
Grey seller - will become less reputable
Its a win win win situation.
I am sticking to Omega.
This confirms only that I no longer WANT to buy a Rolex...just bought a Panerai instead...love it...and will never buy another Rolex given the contempt they have for loyal customers.
1- They will hold production to use capital for building new plant.
2- They will get in the pre-owned segment and make more profits and probably dominate via ADs.
3- Once plans are met, then they will start injecting newer models into the market.
4- In the meantime, they will incentivize Rolex owners to sell their watches for a chance to be on "the" list.
5- Grey market will naturally adjust up or down, but Rolex will still be king.
Beautifully executed by Rolex, while all other competitors (if any) are banging their heads in the 3 inch window displays!
those without money who wear fake rolexes and talk about falling prices are too stupid to understand the truth of what you wrote! prices will only go up and it will be more and more difficult to get a rolex
This was a laugh and a half! The chuckle clips were great.
Rolex is about to clean up! They are finally going to capitalize on the market pricing. Warranty and the creme Rolex kit?! Low prices won't kick the Grey Market, this kit with warranty might.
I am still going to buy all my "Heavy Hitters" from the ADs because they are not tugging in the shadows or wearing the inventory to steak dinners while flake flexing!
There is only one solution that stops price gouging - NO BUYERS!
This is madness. May The Clones Rule Forever...
Thanks, for a good update vid
Brilliant content, as usual!👏 And those hoping for cheaper luxury items from Rolex, have just been gut-punched by Rolex themselves. Higher-than-gray market prices for CERTIFIED USED items on the windows, people will be paying for the cream-colored tags...sheeeesh!
Rolex shouldn't have gone down this path. The power move would have been for them to expand into luxury wallets, handbags etc...go after LV and Gucci. Selling "used" watches devalues the brand.
Absolute mint intro
Here my feeling, after listening to this video and what might happen.
Although I have a Rolex and while looking for a second one becoming more an more upset about the price development and availability even more tight.
The result is, I will turn away from this brand and looking for another brand (i. E. Tudor) to not support this crazy development further.
Well prices are coming down, that the AD's are pricing these watches very high means nothing, as the AD's does not dictate the prices on second hand watches, the market does, meaning the "end user" customer. If the customer decide the price is too high the watch will not sell, simple as that. I's not the highest priced watches that set the market, it's the lowest priced watches that set the price.
Drinking a bottle of Valpolicella and enjoying your latest videos. .. Keep it up ..