What is a GREY MARKET Watch Dealer?
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- Опубліковано 8 вер 2024
- Definition: A grey market dealer is a retail operation (online or brick-and-mortar) selling goods outside the official distribution network. Therefore, a grey market watch dealer is a business that buys timepieces from sources other than the watch brand manufacturer and sells them via its own retail operation that is not controlled by the watch brand.
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💰 𝗪𝗲 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗕𝗨𝗬 𝗬𝗢𝗨𝗥 𝗪𝗔𝗧𝗖𝗛! 𝗟𝗲𝘁 𝘂𝘀 𝗺𝗮𝗸𝗲 𝘆𝗼𝘂 𝗮𝗻 𝗼𝗳𝗳𝗲𝗿 𝗮𝘁: 𝗦𝗘𝗟𝗟.𝗟𝗨𝗫𝗨𝗥𝗬𝗕𝗔𝗭𝗔𝗔𝗥.𝗖𝗢𝗠
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Grey market resellers are the best. No BS about wait list or about must buy less desired watches in order to get a desired model!
Totally agree with you! I've been "waiting" two years for a Submariner that still has yet to come. ADs are the biggest BS in the world and sell a dream in many cases 😤
Excellent synopsis of the evolution of the market over the past 20 years.
Awesome to hear this! So glad you enjoyed 😁🙌
Thanks Roman & Marco for sharing this brief history of the watch market and identifying all of the various players in the market. I found it very fascinating and it brings into focus why I have made Luxury Bazaar my watch dealer of choice since the AD's only have empty cases in their showrooms! I speak from personal experience as I have visited at least 15+ AD's in my travels in the US and Europe over the last 5 years.
I want to make sure I understood that Roman at 12:24 feels that the AD's may go away entirely? If I heard you correctly, I ditto your sentiment exactly! Without going on a rant, the AD's have made it very difficult for new customers to get the watch we want to buy. Although they are polite and will talk to a new customers, you never feel like they are trying to make you a repeat customer and help you to obtain your first new Rolex, Patek Philippe, Tudor, or Omega.
When I heard Roman confirm there are plenty of watches in the safe, although the AD continually has told me that is not the case when I ask them. Myself and a growing number of customers are so frustrated with the AD experience that I stopped going into their showrooms in Q4 2022. Not worth our effort and time.
Thanks so much for your continued support and the kind words as always Danny! 😁🙌
I think ADs being replaced increasingly by boutiques of brands is a very very real possibility. Why would a brand wholesale a watch to an AD when they can make the full margin as a boutique instead. You see this happening now a lot with Richemont brands and wouldn't be shocked to see this continuing to happen.
Totally understand your frustrations. I have been on the "waitlist" and been given false promises over and over while waiting for a basic Submariner. Nothing crazy and yet I've given up as frankly I don't even want to give them my business anymore.
Huge Roman fan and he's the OG. Been watching him since 2019 and the evolution of his content and company is sheer genius. And he's classy enough that he defers this to his team--that is a great leader.
Perhaps the coolest piece of this video is the mutual respect that's evident between Roman and Marco. I could listen to these guys talk shop all day.
Right. lol
Haha I appreciate that! I certainly can say that I look up to Roman for sure and am absolutely blessed to be able to learn from him and his wealth of knowledge and experience. I have been watching him for a long time and admire what he has accomplished and built. And we are similar in many ways especially when it comes to watches so really we are like 2 peas in a pod. That's why these 10-15 min videos with the 2 of us quickly turn into 30 min videos LOL. Glad you enjoyed this 😁🙌
By a wide margin, this is the best episode yet. Congrats.
So awesome to hear this! Thanks so much for the kind words and for your support!! 😁🙌
Watch brand manufacturers should be thankful that Grey Market dealers held their brands up. The grey market has been a source of advertising and exposure for brand manufacturers. Without you some brands would have fallen apart, also you keep the heart of watch lovers beating, whereas brands don't seem to do that. You keep them relevant.You also provide the knowledge and history of the watches, not to mention the service and probably restoration of watches. 💯 totally appreciate the Grey Market. Thank you!
I totally agree with you Frank! The Grey Market provides the advertising and not to mention something that is often forgotten, the LIQUIDITY, that allows the watch market to not only be alive but THRIVE! The watch market would not be anywhere near what it is today were it not for the Grey Market. Appreciate your support as always my man 😁🙌
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@@aminkch653 999?? Isn't that the emergency number in the UK?
That was a nice infomercial
Lol okay
Very impressive episode. I really appreciate the education you provide to our watch community. Keep up the good work.
Awesome to hear this and so glad you enjoyed! Thank you for your support 😁🙌
Great episode, really puts things into a different perspective. the question I was hoping to get answered was, how do resellers get brand new merchandise to sell? Authorized Dealers claim they don't sell to them, but somebody is.
Glad to hear you enjoyed this! We definitely have some AD relationships however we are very fortunate to be in a position where we are offered watches by retail clients who buy watches and also source watches from our numerous wholesale contacts. We do also buy watches sometimes from auctions and other platforms but generally speaking the first two represent the majority of where we get our inventory from. Hope this answers your question 😁🙌
Roman, top hierarchy of a professional and humble watch dealer! With passion and love mixed!
No doubt! Roman is absolutely incredible to work with and without a doubt the King of the Grey Market 👑🔥💯
I wish i had people in my life like roman and adrian. So lucky to have great mentors. I would do anything to be able to have opportunities like this! Especially knowing you have the backing and guidence of such a great team. I would move anywhere in the world for such a great opportunity
Keep up the good work guys. i love the show!
No doubt am very blessed to be learning from Roman and Adrian. Truly the best team in the biz!
Thanks for the kind words and support 😁🙏
In the United Kingdom, the word spiv is slang for a type of petty criminal who deals in illicit, typically black market, goods. The word was particularly used during the Second World War and in the post-war period when many goods were rationed due to shortages.
Late 60s and early 70s I was into grey market photo gear. Imported Nikon, minolta, pentax, leica, sold em cheap. In a few years the distributors made us AD!s. Lol.
Pretty sick!! 😁🙌
You can trade in rolex at iwc, or mostly any other brand. Watchfinder will be your "partner" it belongs to Richmond
Fair enough 👍
This was an awesome listen for my long drive. Loved it keep up this content
So glad to hear this! Thanks for watching and thanks for your support!! 😁🙌
Great to hear all about your start Roman. It's clear you and Marco love watches to death otherwise you wouldn't be in the position your in today. Great Episode Marco and Roman. Lots of love from Australia. Abs.
Appreciate the kind words and your support as always! And for sure no doubt, our passion and appreciation for watches is not only still there but stronger than ever 😁🙌
@@MarcoFerranteWatches hi Marco. I was sent a message saying I've won a prize from LB and was told to telegram you guys back on a LB telegram account. Is this a scam? Yes I'm passionate about watches also, that's why I continue to watch episodes over and over. Lots of love from Australia. Abs.
@@abrahamwann1586 hey, yes please don't reach out to these people. I've removed and block their accounts but unfortunately they keep making new ones. Just ignore them 👍
@@MarcoFerranteWatches thanks alot Marco. Thought so it was a scam.
Even as a small time ebay seller, servicing and refurb are my biggest pains in the ass, the wholesale diff renders some desirable watches almost worthless, or at least very cheap.
Totally agree, it's something so few people pay attention to in complete honesty. The costs, time delays, headaches, etc. So much you have to factor in when buying and selling that is often not seen and/or neglected by the end user no doubt 👍
Great video! I love your stuff. My dealer at Happy Jewelers said he’s done business with you. He said you’re a great guy. Keep up the great work!
You guys need to have Seth from essential (which is now 90210) on one of the channels that guys kind of a legend and I’m sure him and Roman could go on and on and on all day about the old times and which watches they love
Would be a pleasure to have him on and listen two OGs of the watch game in Roman and Seth telling us some old war stories haha. Would be amazing actually!! 😁🙌
This is exactly what I was looking for it was like being in class. Any more classes that you guys are teaching just asking someone who like to get into this, someone that always love watches where do you start where did you get your knowledge from or at least where would you go today to get the knowledge?
Definitely need a "Things of that Nature" hoodie😉ill take the 1st one in a 2xl😎⌚️✌️
So many we could do.. "Things of that nature" , "Ultimately" , "Right!?" and so on 😂😂
@@MarcoFerranteWatches "so on & so forth"😉😎⌚️✌️keep the content comin mr. Marco👍😊
@@MarcoFerranteWatches What about “at the same token” . Nice seeing you guys rock grey in a grey dealer video🤣
@@M1256S Haha yes that's another one 🤣🤣 Appreciate your support! 🙌
@@M1256S yes!! Haha...thats perfect😉also..."i have 20 years in the business"😎⌚️✌️
Those who don’t adapt and/or change with times and technology go extinct…Sears, JC Penny to name a couple of big names!
Totally! Adapt or die as they say 😁🙌
I learn again! 👊
Awesome to hear! Thanks as always James 😁🙌
Almost choked when i heard the price quoted for a 15202ST… They must have inverted the 8 and 5…. He meant 58k, right Marco? Because that where I can buy it for right now. :)
Where can you find a brand new 15202ST for $58k? New 2021 and/or any leftover from 2022 still trade in the 80s. Have to quote based on new given the fact that there is a huge price variance for preowned especially considering 15202 was made for a decade as the 40th anniversary. Hope this explanation makes sense 😁🙌
Roman drops so many gems 💎 and gives so much information and knowledge to everybody.
Roman give me a JOB !! I'll be your Canadian Polish salesman.. 😉
He is a wealth of knowledge and I really am blessed to learn from him. We're not looking to hire currently but feel free to email Roman it never hurts to try! 😁🙌
I hope ADs can survive, if not where can we go to try out the watches on our wrist?
Grey Market dealers are happy to help and allow you to try, see and handle these amazing watches! In the long run I simply see more and more ADs being replaced by brand boutiques instead 👍
Pretty funny how sales work. It reminds me the "downgraded" CPUs which I used to buy for pennies and overclocked them to the top model specs with no problems. LOL.
I would bet the same trick works up to these days to some extent. They used to put a huge price tag on a new CPU and sell it as the top of the line, meanwhile they would put the same CPU on the market as a "lower" end model for a fraction of a price which was also very profitable to sell the leftovers without compromising the price of the "top" model. Sales people sometimes can be way above nuclear physics, you know.
Buy 8k watch for 30cents on the dollar and sell for 3k, maybe 40-50% profit?? No wonder Adrian's the math/price guy.
Sorry next time we'll be sure to have a calculator on hand to give you an exact mathematical breakdown 😂
Roman has two sons...Marcus and Marco. The respect and admiration that Marco has for Roman is so apparent in this video. It's the love of a son for his father LOL. Great video, guys!
😆 I can definitely say I'm extremely blessed and fortunate to be able to learn from someone I've been watching for so many years. It's definitely easy for me to say I admire and look up to what he has accomplished and built and hopefully help take it to the next level in some capacity or another. Excited for what the future holds and couldn't be more grateful to be working alongside the 👑 of the Grey Market 🙏
Good to have Marco back!
Thank you!! Glad to be back 😁🙌
Great vid! Can you make a video about the current robbery epidemic? I feel there needs to be more awareness on this topic.
Totally agree! Check out the video published just before this I actually discussed this exact unfortunate topic 😓
Luxury Bazaar, CRM, WOLVYN, Watch Eric (in that order) are the top Grey Market shops. I would not buy a watch from the others.
So awesome to hear this! Thanks so much!! 😁🙌
It’s awesome Roman did a video with one of the guys from Wolves of wall street. 😂
😂😂😂
Honestly, I am thankful the Grey Market exists since they provide a channel for watches to go to their forever homes.
Awesome to hear this and I definitely agree with you!! 😁🙌
would love to see u guys carrying some brands like NOMOS whose quality and design features are far beyond their semi affordable price tag
Call up LB and ask them to source the model you want. They know every wholesaler in the watch industry.
Got home from work, and watched, and loved it , info, banter, and all the good stuff, thanks as always 👌🏻
Awesome to hear you enjoyed this! Thanks so much for watching!! 😁🙌
Wow this was awesome
Can we please have an update on how your son's sneaker store is going? 😃
It's going great! You can also follow him along his journey as he recently just started his channel and will be producing a ton of content for it! Subscribe here @hypmiami : www.youtube.com/@hypmiami
I didn't know much about the watch market craziness in 2020 and went into a few Rolex ADs. All except 1 of 5 used different absurd reasons, like "You live more than 30 minutes away from us. We can't put you on a waitlist." to tell me to GTFO... I am still wondering what is the purpose of ADs? For car dealers, at least they service my cars twice a year...
If the Distributors/Manufacturers didn't resort to channel stuffing their ADs, probably because of accountants/shareholders perpetual need for growth numbers, the landscape would have been very different. ADs would have had more control over their inventory instead of then being forced to buy a bunch of hard to sell shitters that they relied on Grey Markets to move as they were also restricted from discounting the stock too much, so no 70% clearance sales and bargain bins for the unpopular pieces.
Yes definitely don't disagree ADs played a pivotal role and still do but are increasingly being phased out as brands really don't require them like they used to. Nowadays many brands sell out of a lot of their inventory so why not just make the full margin as opposed to wholesaling product to an Authorized Dealer. Think the AD system will increasingly get phased out as a result unfortunately but that remains to be seen 👍
@@MarcoFerranteWatches The brands will have to get their production numbers under control first. Most ADs are still dumping grounds for corporate numbers-driven over production as there aren't really that many hyper desirable brands/models outside of Rolex, AP RO, and Patek Nautilus.
@@dimman77 no doubt but the tide is definitely turning. Richemont not really doing this anymore, the only two I know still doing it is LVMH brands and Swatch group both of which are pretty shaky. But overall things are firming up for the most part 👍
Great content and very informative
I have watched for a couple months and still didn't know! Thanks for the quality content ❤️
Awesome to hear you found this informative! Thanks so much for your support 😁🙌
Great content. By the way, did you guys decide to wear grey shirts for this topic?
Thanks! And no haha that is pure coincidence. Hadn't even thought of that until you mentioned it. Great catch 😆👍
So there's a lot of stock by the Rolexdealers... even in Europe... Nice to know. What do they (grey market dealer) do when a flipper wats to sell a brand new watch? (from a price point)
Not sure what you mean 😅
Maybe a dumb question, but when you take a older watch and service it before deliver it to a customer:
What do you use to set a watch to the perfect exact time, day, date, moonface and so on.
Not a dumb question at all! So typically these are calendar watches and will have pushers on the side of the case to adjust these functions. In some cases, you have to adjust them based on a specific order. Hope this answers your question 😁🙌
@@MarcoFerranteWatches Thank you for the answer. Learning new things every day with you guys. Been watching HOURS of watch videos tje past week
@@bjertus awesome to hear this! If you have any questions please never hesitate to ask I'm always happy to help 😁🙌
@@MarcoFerranteWatches You can count on it 💖
I'm a grey market dealer yo. Been grey for 20+ years yo!
Awesome! 😁🙌
Awesome insight, thanks chaps, very interesting 👍
Awesome to hear you enjoyed this! Thanks so much 😁🙌
Marco is the Alton Brown of watch Industry
😂I will take that as a tremendous compliment as someone who loved watching the Food Network growing up!! 😁🙌
where i can get grey market dealer please
Wacktacular.
?
Keep it up guys
Thanks so much!! 😁🙌
Come on now 20 years, you got to start saying 23 or 24
Totally agree!! 😆🙌
I don’t trust grey market ind anymore
😍❤️😍
Is the thumbnail an 25 yo photo or heavily photoshopped? Looks like those real estate agent photos that makes it look like their child
Gray market may also be used to facilitate crimes, such as kickbacks and bribery, tax evasion and money laundering.
A few bad apples are inherent in literally ANY industry - banking, real estate, finance, the list goes on. Few bad apples doesn't mean the tree is rotten
❤
Thank you!! 😁🙌
Your name is dead sorry just kidding It's awesome name. 🇮🇪👍👍
1st
Awesome!! Thank you Phil 😁🙌
marco's accent is thick in this video.
😂😂😂