Recently my girlfriend dragged me into a Vacheron Constantin store after I drooled at a 222 through the store window and even though I made it clear from the beginning that I couldn't afford any of their watches, the store clerk was super friendly, asked us how we got to know the brand and what we liked about it, gave us a brief summary of the company's history, then asked us to sit down, eagerly showed us first a display case with their movements and then almost their entire collection and let us try on whatever watch we wanted. What an experience! Rolex, take notes...
Don’t forget Rolex sells 1.2 million watches a year while VC maybe 40.000. It’s not the same league that’s all. But I understand strongly this great customer experience.
I’m sure I’m in the minority here, but I’m not visiting an AD and chatting watches in hopes of getting something. What a sad reality for those who are. Too many great watch brands out there to play the “kiss my AD’s **s game”
I don’t think it’s a matter a kissing a$$. It’s more about showing them that you are not going to flip the watch. If they don’t know you, why would they just effectively give you a bag of money?
The watch flippers have done this, not Rolex! Unscrupulous AD’s maybe! But…. I can only speak as I find! The AD’s I deal with have been nothing but transparent and professional! 🤷🏻♂️don’t know what else to say!
I used to Like Rolex. I still have a couple. But i'm not playing stupid games to buy something that is already overpriced. They need to kiss my ass to drop $20k on a watch, not the other way around.
Exactly. It's amazing how people keep defending the AD by saying it's normal because the Rolex is "basicly a bag of money" or "luxery". I guess it is a license to treat your customers like shit.
You make a great point. I have wanted a GMT or an Oyster Perpetual for 4 years now in the US. The price keeps going up in parallel with my ebbing interest. So by 2030 (it takes 1 year to make a Rolex), my interest in the GMT will be zero. For the record, I do not bother to visit the Rolex museums nor enter the store as soon as I see the Exhibition Only signs in the display windows. Is this called reverse marketing or demarketing, Rolex?
Building up a relationship ? The idea that one has to "build up a relationship" with a Rolex AD, just for the huge favour of handling over your hard earned money to them is rediculous. It's not a job interview or a first meeting with the family of your spouse.
I mean your spending thousands of dollars and starting a relationship journey.. it's a luxury item. Just how it is. You can always go to Breitling and Tag and buy basically whatever you want. Omega your gonna have to start a lil relationship or go to Macy's at the mall and buy Movado or Bulova
@@craigborrenpohl1233 I really don’t want to be “urgh new money mentality” but it’s a very different experience when dealing with old, entrenched maisons. Whether you think Rolex should be is one thing, but that’s how they’re acting:
And to think you used to be able to go into a shop and *buy* what you went in for, with your own money, and walk out with it. Now, in effect, you have to bribe shop staff to be allowed to spend your own money. Beyond bonkers.
so let me get this right ,,,,, if you just walked in and bought a steel Daytona on the spot you would now be up thousands of dollars ,,,,, right ? ...... can you think of any other store where you can walk in ,,,,, stroll up to the salesman and say " please write me a check for six thousand dollars " ..... and they just smile and do it ? Pretty obvious they give you money only if they think you give them even more ,,,,,,
@@robbase-f6xIt's only that way because you have to do the whole AD dance. If you could just walk in and buy what you want, there would be no premium paid on the secondary market. It hasn't always been the way it is now.
@@robbase-f6x And what shop sells a product for $6k less than they could get for it, eh? 🤔 Why not sell it for more than the used price, it is brand new after all? In the UK legally retailers cannot be told what to sell something for, and yet…. Go figure who is rigging the market and how scalpers get product. If you *could* walk into an AD, buy and leave with a Daytona, used ones would *not* be worth more than MSRP. Scalpers are banking on you be daft enough to pay over the odds for something that is not only non-essential and secondhand, but also tangibly not worth even the MSRP.
@@robbase-f6x They’re not *giving* you anything. You have to have the substantial amount of money to buy a Daytona. In any normal marketplace *no* shop would sell a product brand new for less than its secondhand price, and in the UK it’s illegal for a manufacturer to dictate a sale price to a retailer. That’s why the S in MSRP stands for ‘Suggested’. And yet…. You want it straight? It’s rigged.
Even if I had secondary market Rolex money, I would not buy one. It’s a matter of principle. I’d just go buy something more unique and better for the same price.
Thankfully I don’t give a hoot about Rolex. The real tragedy is watch channels being forced to publish Rolex-related content to appease an algorithm in the hopes of getting more views.
re: #4, I've said this before and I'll repeat it here again: My Rolex AD here in SoCal straight up told me that clients who bring him gifts (he suggested "such as a very nice bottle of wine") are "enjoying their rolexes today." It turned me off the brand to such a huge degree that I'll likely never own a Rolex. If that's not only so standard that he can feel comfortable telling that to me openly, and so accepted by the typical Rolex clientele that it's become a usual expectation, the brand itself has nothing to offer me. Rolex in my head isn't a luxury watch anymore; it's a watch for easily manipulated suckers. And that's my first reaction whenever I see one now: "wow, what a sucker." And I'm ecstatic about my Omegas and Cartiers, which feel truly luxurious in comparison, because they were purchased while sipping expensive champagne and being treated with respect.
The AD I've been talking with said the opposite. They're not allowed to accept gifts from customers. Call them out. This will get their AD status removed if it's made public to Rolex.
No, because if we who work at an ad sees aperson flip, he wont get to buy again easy as that, Do we know all that flips? No, but if someone regularly flips, we get to know, belive me.
Rolex/ADs could solve this whole thing by just being more transparent about the actual wait period. In my opinion it’s the “you may never get the call, who knows?” that turns people off, not the actual waiting.
The big thing is that it's pretty much just Rolex. If this were the case for every luxury watch we might have a slightly different conversation but Omega, Breitling, Tag Heuer, and plenty others are more than happy to take your money without knowing you and potentially never see you again. And they'll treat you fantastically doing so. I should know as I'm not someone with a lot of money and have been treated very well by associates in boutiques from all three brands
Exactly. Put me on the list. If I'm number 725, when [watch of type I requested] #725 come in, I should get the call. Simple. I don't care how long it takes. I care if I'm being jerked around.
Last AD I visited accused me of wearing a fake. (It was a 16700 Pepsi) Then proceeded to act as if I'd come in off the street begging for food. This is how they treat someone who has been buying and wearing their brand for 20 years. Needless to say I'll buy my watches elsewhere.
I can't figure out why a watch brand that sells more than a million watches per year can be called 'exclusive'. It should be called industrial mass production, which is not a bad thing at all. If this exclusivity thing is important to you, be happy as long as not everyone can simply walk out of the AD with a watch and go to your friendly secondary market dealer and pay the market price. Or simply buy another and maybe better watch from a not so overhyped brand, which might be really 'exclusive' because that brand produces only a tiny fraction of what Rolex produces.
That's what drives me insane about this. If you want a watch as rare as Sub or OP, buy a Longines. Longines produces around as many watches per year. If a Longines isn't exlcusive enough to warrant the waitlist and grey market, then a Rolex shouldn't be either.
I think you are correct but are neglecting the breadth of their catalog. From what I have read, the split is 54% classic, 46% professional. So let's say 650K Datejusts, OP, Daydate, and Skydwellers, 550 K Subs, Daytonas, Seadweller, AirKing, GMT, Yachtmaster, and Explorers. I've read about 20-30K Daytonas are made a year, but I've also read 100K are made. Of those Daytonas, how many are Panda's? Remember, the Daytona range fairly broad, with many dial and metal combinations. I think 5K-10K Pandas is a good estimate at if 30K are produced, which is a pretty big number, but for the whole world, it's somewhat limited. Also, remember, Rolex is a business, they are not going to shift production to meet global demand, it wouldn't make good business sense.
Showing your face to jerk of AD's regularly is in itself an annoying action to have to undertake. Money is the same for anyone. Purchase history is BS. Buying other things to bribe your AD is criminal.
🤣🤣 YUP! It’s a very annoying game you have to play but it really is how you build that relationship!! I think it’s especially annoying if you don’t live in or near a major city. 😢 It’s not how things should be. But sadly, it’s how it is!
It's not just flippers, it's Rolex and their AD's too with their whole, establishing a buying history. That should be outlawed and be looked at and prosecuted under the Consumers right act. Rolex is just a scummy company. Yes I can afford one, so none of that you're just jealous crap.
I'd like to know how that case the French authorities brought against Rolex is going. It's demeaning having to go in and be false and kiss arse for what is, a run of the mill watch. People should really look elsewhere
@@BrittPearceWatches I'm a trauma surgeon. Imagine you get driven off your bike and suffer life threatening injuries. Then I come in and first determine if I like you, then if I want to and after that decide to or not to threat you. How would that be normal. I'm not attacking you Gringa but it is the world on its worst behaviour.
The amount of relationship between an AD and the potential buyer should be: AD has a product, he wants to sell & the buyer has money, he wants to spent. Period.
.. and by the way imagine if you project that "building a relationship" crap to a regular super market or grocer. "oh, you can't have a banana right away. You have to buy some grapefruit and citrus first. And maybe some apples too. Then and only then, we *may* allow you to buy a banana".
It’s conversations like this that have absolutely destroyed the Rolex brand for me. It’s such a bore-off, so tiresome. I have three Rolex, DateJust Palm, Explorer II Polar and a SubDate. Don’t wear any of them much any more. It’s become so passé to wear a Rolex in the UK. The whole conversation surrounding the brand and what it now means to wear one. The only people you see wearing them in the UK are the new money types, wearing skinny jeans/chinos, tight fitting polos, Patagonia gilets, deck shoes and definitely arm tattoos, if not the old full sleeve. Rolex isn’t cool anymore. I know a lot of people will say, who cares….but Rolex these days are a luxury jewellery brand with closer ties with fashion than engineering in the eyes of many. I’m done. I’m going to be selling all of mine closer to Christmas and looking further afield.
the other day I was shopping and I walked past a Rolex AD and said to my son so that the people inside had to hear it. “Look son, this is a Rolex museum”
On the list at one local Rolex for four years. Actually purchased somewhere else, but I’m waiting to see if the first ever calls. Called another AD about inventory. Was told to fill out an online application and plan on doing an interview. No thanks.
03:06: Your calculation approach is wrong: the figure 24640 is a snapshot. To be able to compare it with the number of watches sold by Rolex in a year, you would have to have the number of adverts over a whole year.
Hey Britt, that's because the ADs themselves are the flippers. They get the watch direct from the manufacturer at a 40% discount. They aren't selling that time machine at retail; they want the full whack-up in the secondary grey watch market.
In Germany the story is different. About 50-60% of the Ad‘s will only sell you sought after Models if you buy a few other undesirable models along with it(Breitling ect.). Ads here are really greedy
Same story in Austria. I'm currently on the edge of buying my first luxury watch. I walked in on an AD just to see if an OP would look good on my wrist. I stopped there after work (properly dressed, good behavior) and they didn't even want to show them to me (even with them on display). So I went to Omega and had a great experience. I think they don't need a relationship, my money seems to be enough for them.
Walked into my local AD in April and expressed my interest in an Explorer 36. Said I would prefer to buy locally if possible. She took my details, asked a few questions, and said she would contact me when she had one for me. Got the call inside of two weeks. The whole experience was lovely.
I asked for a 41 mm celebration dial - they said those are super rare and they don’t see many of them. They called back in a month and offered me one. I bought it and love it. Very fun and informal watch and under 7K. Not all AD’s are jerks
The fact that one watch is sold to a Flipper is a problem. I know that the waiting list is BS but isn’t Rolex supposedly “screening “ who they sell their watches to so as to stop flippers? Let’s face it, Rolex and their BS practice suck.
I got my dream Rolex (Explorer 40) in two weeks with no previous spend. Not the hottest model, sure, but the AD was absolutely fantastic; no BS or silly games. In fact, they were delighted to serve me delicious coffee and chat generally about watches. A surprisingly excellent experience!
Great video Britt. You’re the kind of customer most AD wants. Someone who buys jewelry and other brands so when time comes, the AD tries to keep that relationship going by offering you the coveted piece. I don’t think there is anything inherently wrong with it, but a lot of us can’t play that game. I do love other watch brands, but I can find them for a lot cheaper on the gray market. I recently acquired a brand new (with stickers) Tudor BB Pro for around $800 less than what I’d have paid at my AD with taxes. I also bought a brand new Longines Zulu GMT for around $400 less than AD’s price. So in the end, I rather pay less for non Rolex watches and use that savings to pay premium for the grail piece like a Daytona or a Pepsi. Math evens out
What drives this even more is that all of the Rolex competitors have online storefronts where you can just buy directly from Omega or Tag or Cartier. It’s really only Rolex that is so over the top in this price point
Who is getting the call mostly? The average worker, who worked 20-30 years and wants a special watch, his only watch for an anniversary after so many years? Nah... it's the guy who drives a G63, 6ft, trust fund, works in finance/lawyer/real estate making tons of money and couldn't care less if he gets it or not and probably gonna get bored of it in no time... or the flippers...
I’m a lawyer and do well and still haven’t got a call for a Rolex. This brand thru ADs are indiscriminate and treat everyone equally like trash who don’t fit their “profile” re: grey market dealer who buys their other brands in bulk to cut in line for a Rolex.
The Rolex agent near me lost the franchise for “selling” a new watch to a “friend” and then sticking it straight in the window for sale twice the price…
The problem with Rolex these days is no one cares that you have one and they just assume it's a fake. That has destroyed the whole "exclusivity" vibe that Rolex tried to create. Buy an Omega or Breitling if you want a nice sports watch. Walking into a Rolex AD with wagging tongue and kneepads is simply not dignified.
The thing is: why should I need to "build a relationship" with an AD to get a watch I want? If I want a watch and they won't arrange it for me until I buy a bunch of things I don't actually want, then the system is not working as needed. This is not about scarcity. This is about ADs weaponising scarcity to exert power over customers.
@@cecaju9516 I understand your point, but my assumption is that the vast majority of people who wish to buy a watch are doing it for personal use, the video itself makes the point that people reselling for a profit a small minority of overall buyers. I can walk into a Footlocker and buy a pair of sneakers, even though there's an active secondary market for them. The salesperson at Footlocker doesn't require me to buys a bunch of sportswear I don't need first.
@@cecaju9516They do already. Or else there woudn't be Rolexes on the secondary market. Having a customer who bought other watches at your store or can suck up to you like a pro doesn't guarantee anything. In fact, their unwillingness to sell is the reason why people rather buy from a flipper in the first place.
I got both the stainless steel models I wanted for retail price from the AD, all thanks to having a VIP friend. No way would I be buying 'starter' models just to build up my spend history.
I’m on the fence about how I feel about buying extra jewelry to get a Rolex voluntarily. However the last time I was offered a stainless sports watch the salesperson demanded a bribe. I turned it down. Probably not getting the call again. But it made the experience feel coerced and filthy.
If you walk into a store, see the watch you want to buy, and they don't want to sell it to you. Well that is the end of it then. Given demand far exceeds supply, they should just double the price to balance the equation. But if you have the money they ask, you should get the product, simple as that.
It triggers me when Britt talks about accessibility to watches when she is obviously benefiting from her channel at this point & prior to that her husband’s AD relationships. She was “in to watches” for about 1 year & (hubby)received a Black Daytona allocation for Christ’s sake(pun not intended). He is the .05% that is allocated just about anything he(they) want. He got an FP Journe allocation. So she has never been just a normal watch enthusiast trying to purchase hyped pieces
This year (2024) I bought a Rolex GMT Master 2 "Rootbeer" from Watches of Whitby. Paid £15k and watch arrived next day... Rolex RRP is now £14,750 so at least I got my watch. Arrived in mint condition, full set, very happy.
Buying jewellery in no way shows that you are a serious watch collector, which appears to be the justification for dealers taking purchase history into account. For that reason it is better to deal only with dealers who exclusively sell watches.
I agree this is bad dealers that are just dangling the carrot. One tried it with me and I told them straight out that I will not be playing that game. I may buy other watch brands of watches I like but that is all I am willing to do to try to get a watch I want
I have never had a Rolex AD mention buying jewellery lol 😂 Is it an American thing? It helps to be a previous customer rather than a random off the street trying to flip a watch, but why does jewellery keep getting mentioned?
Buying a watch for yourself to ‘celebrate an occasion’ is another crock Americanism. It’s just an excuse to buy a watch and/or justify it to other people. Grow Up/Man Up lol
I gave a Rolex to an ex girlfriend. She later went out with an American guy and he could not understand why she had been given one as a 21st birthday present. Americans are weird about drinking too. Here in the U.K. we do not need an excuse to buy Rolex’s or get drunk, it’s a daily occurrence for some 😂
I hate the purchase history thing. I expect most people would be saving for a Rolex for a few years, in a country where so many people have to choose between heating and eating, not buying one Rolex a year or something. And what if a person who has plenty of money just wants one Rolex ever?
This is the thing, you are so right! It's definitely not the way things SHOULD be. :( The big problem is: There's so many people who aren't choosing between heating and eating who can easily afford these things and a lot of AD's just allocate to those people. It's really, really NOT RIGHT and it's far better for these to be going to those people who have been saving and dreaming!
The thing is, at this point I''m not even bothering to enter a Rolex AD shop any longer. I spent my last 100K€ in Grand Seikos instead, because their boutique in Paris makes me feel like a valued customer. When I see someone with a recent Rolex, it spells "victim" to me, and I don''t want to be one.
I'm having a hard time reconciling the "ADs backdooring Rolex's is a conspiracy theory" and "Rolex has really been clamping down on this." What are they clamping down on, exactly?
Well ADs have lost the AD status because they’ve sold to flippers. Rolex U.K. has blacklisted clients who they’ve found selling watches. Edit: Rolex UK have asked ADs to blacklist clients.
Around ten years ago, I visited the local Rolex AD here in Fort Wort. The reason was that I wanted to have my Longines Hour Angle watch serviced. The guy there made some comments along the lines of, why service a mediocre watch? For a little bit more money, I would be able to buy a TAG Heuer or a similar thing, and with these purchases, I would be able to get a buying history that will allow me to buy a Rolex in a couple of years. To this, I replied politely that I don't have any interest in or desire to own a Rolex, TAG Heuer, or anything else beside an Omega. And with this, I left the shop without spending any money on servicing my Longines there. Someone else got the job. That was the last time I set foot into a Rolex AD.
@@TheTejanoJose If your Longines was serviceable by them then that should have been the only discussion. I guess asking if you would like to look at a new watch in addition would be good salesmanship too, but don’t disrespect the watch and your potential customer!
@@alfieakaronaldog I asked them to send the watch back to Switzerland to be serviced by Longines. He told me that this would cost between $800 and $1K, which was too expensive anyway. Next came his comment about the quality of Longines in general, to which I replied that this watch was a wedding gift from my wife back in 1990 and therefore is much more valuable than just a simple dollar amount. The rest of the story is as described above. By the way, I have nothing against a salesperson wanting to sell me a new watch, but don't try to sell me a TAG Heuer to build a buying history for a Rolex. Both brands are not on my list of desirable brands.
Building a relationship…. Thats pure BS. I got a sub with date in 2017 at an AD in India, when it has been out of stock for 5 years in Australia. Past year , I have bought JLC, Omega and now an ALS as i no more wish to wait for ROLEX dickhead ADs to be happy. I got money, you got the product, Transaction. This Tulip Mania will end and other brands have majorly benefitted with Rolex crisis. Now they just supplying gold or dual tone , so you buy inadvertently and Rolex increases its topline.
I asked the same question today - artificial scarcity drives demand, which keeps prices high and in turn drives more demand. If De Beers didn't restrict the flow of diamonds they'd be everywhere and super-cheap. Only by making them scarce did they keep prices high (along with 60 years of marketing to tell us the same).
Forget about getting a Rolex in Vancouver BC, been trying for years. But yet there is a flipper on Chrono 24 who somehow has over 400 brand new Rolexes for sale and they are located in BC. How did this flipper get so many brand new Rolex’s??
There are plenty of other fish in the sea, JLC, Cartier, Omega to name a few. If you happen to deal with a stand up AD, fine. But personally, I would always only consider spending my hard earned money at an AD, when I feel treated like a valued customer rather than a supplicant.
The bit I don't get is the notion that it's okay for Rolex to gatekeep their customers and decide who is worthy and who isn't. When I bought my new car in April, it was extremely hard to find. I spent about three months locating a dealer within 10 hours' driving distance and finally got one. I signed the deal, I had the car and they'd never met me before in my life - for a $54,000 car. Why is a watch any different?
With the Rolex prices going down on the grey market now the difference from retail price is reducing, and if you don't need to purchase other brands or juelry you can think about the secondary market if the difference for sought after models is no more than 2/3k.
Not everyone selling a watch in the first year is a "flipper." I know a guy with too much money who wears a watch for about a year and then moves it along, usually at a loss and occasionally a profit. He just loves watches but is on to the next thing. There are a few that have stayed in the collection, but all the Roles got moved on.
AMEN!!! And another big thing, that I wish I said, sometimes the buying experience is so tricky because… like… you’ll be on the waiting list for years! You’ve maybe never even tried it on! Then you get the call, FOMO kicks in and you buy it… then it ends up that you don’t love it. 🤷🏻♀️ it doesn’t make you a flipper to sell things on!
It’s just so tiresome that there needs to be any “relationship” built to buy something in the first place. I’m a customer with money who wants a thing. That’s where our “relationship” should end. I’m not there to make friends or impress some stranger gatekeeper when I’m already strolling in with $10k+ that I’m looking to drop on something I don’t even need. I’m not looking for a relationship. They have the entire customer/retailer dynamic completely backwards. I should say, though, that I really appreciate this video and think you did a great job on it 😊 I’m frustrated with Rolex, not you 😅
I know that there are, I used to watch the timepiece gentleman series, and I could remember him calling AD’s and getting watches from them to sell to his gray market customers
Nothing wrong with giving pleasant people, nice customers, repeat clients etc more attention. They deserve it! Even people who don’t necessarily spend big but do spend and are nice about it.
Im a fan, fellow Canadian and enjoy your channel and commentary. Just have to add my two cents here. I have to respectfully disagree with you about WHY AD would rather sell Rolex to customers with a long purchase history. You believe it’s because the AD wants to weed out flippers. In contrast, I believe AD mostly sell Rolexs to customers with a long purchase history as a way to maximize their profits on the Rolex watch. They want to make more money off that Rolex watch so they’re in a sense forcing you to buy 3 - 4 items on top of the Rolex watch. And the ADs are able to do this because the hype for Rolex. Customers are willing to make multiple purchases just to get a chance at the Rolex watch if their choice. Again, just my two cents. Keep up with the great videos 👍🏽
Just picked up a tudor from my AD. I'd like to get a datejust too. However, im a little concerned if I put my name down I'd get the call too soon, before my watch fund has a chance to recover.
And buy some fruit, or you won't be allowed to buy your desired model 😆. It's ridiculous beyond believe. What's the purpose of an authorizd dealer? To have the models on display for you to choose the one that fits best.
I literally just walked into an AD 2 weeks ago and got a 40mm Explorer... That's probably how the flippers are doing it? They're just lucky? Honestly I think the salesman just liked me. I was genuinely in love with the Explorer (and I still am) and he could see it in my face, so offered me the one I was trying on. I know it's not a Daytona or something, but still, it made my month.
I just got called up today that a GMT Master II that I asked to be put on the list on three weeks ago was now available to be picked up if I wanted it. I had no prior purchases from this AD and didn’t do any song and dance for the salesperson. I was just cordial and mentioned that I was interested in this watch and asked if I could be informed if one becomes available. Sometimes, it’s just being at the right place and at the right time.
Agreed with it is (mostly) everything about the relationship with your AD. My first AD Rolex purchase was a Pepsi. Last year. First ever purchase with them. However, I had a purpose and a reason why I wanted the watch and the representative did everything she could to make it work for me and see me happy. It was worth the world to me.
So not pay over retail for a watch but spend thousands of dollars on watches or other jewelry you don’t want in order to get the watch you want at retail. #logic.
Some jewelers (at least here in the Netherlands) also sell used luxery watches. (Including Rolex). And the prices are reasonable. But I don't want a Rolex anymore.
You are spot on! I work at an AD since 2018, so I have been there for the ride. All you said is true, we don't sell to flippers, just liken you said Rolex tells us to make sure the right customer gets the watch not the flippers, and it's not about playing a game! Believe me we know when someone plays the game, if someone is genuine and really is a collector or really is interested it shows, there are so many red flags that you can pick up if someone is not genuine. And btw just like you said we sell to good people who we like, heck I have sold Submariners to first time buyers that I have learn to know and it makes me happy to sell to somene who gets really really happy. Btw thanks for your videos they bring me joy ❤
It is just so basic of an analysis. Fact #1: can't get new Rolex at retail at an AD - not possible for 99% of people. Fact #2: there are over 25,000 Rolex models from 2023 and 2024 on just Chrono 24 selling at at least $1k-$2k+ over retail. So you absolutely can get a new Rolex right now, you just have to get it on the grey market at $2k over retail. There is CLEARLY a system that is broken here.
Any economist would immediately pinpoint the problem here - Rolex are underpricing their watches, given that demand is outstripping supply (and has done for years). If they raise their prices then fewer people will be able to pay the retail price so the waiting lists will get shorter. Keep raising prices until there are no waiting lists for most models. Problem solved and Rolex would be making more money. If Rolex were a public company their shareholders would force them to do this. But as they are private they are free to act irrationally. But the most irrational thing they do is continue to spend vast sums of money on sponsorship and advertising, which helps to boost demand. But they already have more demand then they can cope with! What are they thinking?
@@ChrisWalker-fq7kf 100% agree, just get the retail price to what the market price is and let us who have the $$ walk into a damn store and buy one instead of needing to suck off a smarmy AD rep
The sales guys have no power to approve the allocation, they have to submit to the management for approval of which the management will decide based on purchase history among all the customers.
I feel look a ton of buyers will/have just looked else ware. My grandfather bought my uncle a watch for college graduation, he's still wearing it now 50 years later. A father couldn't do that for a child today. My other grandfather got a watch when he retired from his company, a uncle wears it now. Again, that company won't be buying Rolex in the future. These kind of buyers looking for commemorative watches aren't guna get on a wait list. Their just guna walk across the store to a non Rolex case. Walk in with your son and explain you want to buy him a watch today and you'll get laughed at.
I was reading the James Bond novel "On her majesty's secret service". Written in 1963. Where Bond damaged his Rolex (using it as a knuckle duster). And decided that he wanted another Rolex. So he's going to the shop to pick one up on the next morning. How time has change. And in case of Rolex, for the worse.
I've largely tuned out of the "big" brands since the relentless, outrageous price increases and false scarcity since the pandemic. Amazed people are still willing to put up with the Rolex AD game....
I am so put off by this brand at this point. With all the "attitude" towards its clients, I just don't feel like I'm a Rolex person anymore. I just wanted a one and done watch as I'm not into the idea of having to buy a Cartier and a necklace in order to maybe hope have an Oyster Perpetual some day. Sorry Rolex. 🤷♂With this being said, I think Rolex will do just fine without me. Omega has some nice products. 😁
Went to the AD in Darmstadt German on Saturday, didn't get a Rolex ,but they treated us with great respect, and I kept the salesman busy for almost an hour, Till Hartman is a great ambassador to the company and brand.
I have been trying to get a pair of OPs for my wife and I for over a year, blue dial 41 for me and turquoise 36 for her. I have a substantial purchase history with this AD across multiple brands, including four other Rolexes, so it’s not spend issue or relationship issue. Based on what they’re telling me, assuming it’s the truth, they really aren’t seeing many OPs right now. Theory from manager is that Rolex is focused on the precious metal watches because of the higher margins. This is in the USA so maybe different in other countries.
One strange thing I noticed what potential buyers are doing is leaving positive Google reviews on Rolex ADs in my area even though they didn't buy anything. I guess people will do anything to get ADs to sell them a Rolex.
Not me. I left nasty reviews after they treated me like dirt. Claimed my name was on list but it's been over 6 years for a darn sea dweller. Ive made up my mind that i will never buy anything from them nor any of their related establishments under the group.
For a fair comparison, if you only choose AP Royal Oak Chronograph then it's down to about 80 pieces. So that's a lot less than Rolex though it's cus AP makes much less watches.Patek has only 40 but that's cus they discontinued the actual chronograph reference 5980. On another note because Rolex AP and PP increases their list price way too often and way too much the margin is much less to flip so if they keep doing that then the interest in their watches will drop( less demand means more pieces available) so they need to be careful with that. Most stainless steel sports watches from Rolex are now available however so instead of of a sub, maybe go for a yacht master or sea dweller(originally same line but bigger). Instead of a GMT Master go for Explorer 2 black dial(similar function) and so on...
Cool video, never put much thought into this topic until just now. I’ve been a watch nerd my whole life but now that I’m a little older I am starting to dip my toes in the more luxury pieces I coveted in my youth. So fun. I have a fairly new to me AD but she is really awesome. It was helpful to have a friend refer me to her as well and he’s got a great buying history 😊 I have gotten a few “entry level” pieces from her and maybe one day a Rolex🤞🏽
Generally like your videos Britt but you had a few ridiculous stances in this. The idea of building a relationship with a store in an industry with HUGE turnover that hires entry-leave employees (that's who retail jobs usually attract) is one of the stupidest stances I've ever heard. It's one of the most self-deprecating things one can do while still being civil. Even worse is "spend more" with your AD. Why though when AD precious product is so often generic, blandly designed, poorly manufactured and with zero transparency on cost of metal/labour (ie. you're paying for marketing). As someone who likes to collect real luxury watches ($10K+) and buys a lot of yellow/white gold/platinum jewelry, I've learned that ADs offer the absolute worst value for money. The designer pieces I have from them are ALL among my least favourite today. Whenever I go into an actual goldsmiths (the real thing, not just a company who names themselves as such to make you believe they know how to manipulate precious metal) I find truly unique pieces that attract the most compliments and make me feel so good about spending that hard earned money.
I’m over Rolex these days. I focus more on vintage pieces and other brands . Been waiting for years for some models which I’ve been turned off overall for the brand .
The data analytics are a bit off here respectfully. The grey market isn't just chrono 24. Plus that is chrono24 at one point, not an annual turnover of watches sold even there. Even in my town there is another watch store full of sports rolex You are also skewing this based on your relationship with an AD as a regular buyer of luxury watches. The average person is simply never getting a Daytona at retail as a first time watch. I have a nice relationship with my AD and have bought a few watches there. With some waiting I'd get an explorer/exp 2 in a few months or a no date sub with maybe a bit more waiting. You are not getting the grey market flipper specials without a massive purchase history even in the UK. I'd like to see you try and purchase some of these models from a random AD.
ADs are selling out the back door to flippers. Of course, this is happening. They aren't supposed to, but they do. Why? Because Rolex ON PURPOSE under-produces the most in-demand models. I'm over new Rolex. Only buying vintage at this point.
Requiring a purchase history to buy a product is unethical, in my opinion. A watch is advertised at a certain price. If I’m required to develop a “purchase history”, then the price on a watch is a lie. All this controversy would go away if Rolex just charged what people are willing to pay for their watches.
I agree with you apart from your last sentence. If rolex had charged market value my rootbeer purchased in 2022 would have cost about £20000, I paid retail at £12750 and if I sold it now best case scenario small profit, worst case scenario small loss. Now if rolex charged market value that would destroy the brand. A new Rolex has always been 1 of the best products for retaining most of their value and that wouldn't have been the case if rolex had sold for market price. I do think the ADs hurt the brand with back door selling. What would have been better for the brand is for Rolex to take control make a procedure to to register on a genuine waiting list. for example I want a submariner. I must go on the rolex website for the country I live in and fill out a form with my home address photo id/passport/drivers licence ect, then when that's all done I get to choose the AD and get issued with a code. Next step is visit the AD with my waiting list code from Rolex and that code can only be used once . That would have stop the same person getting multiple watches to flip. Also a buyer is only allowed 1 code every 3 years. Rolex would gain lots of customer data for the cost to administer this system and flipping would be drastically reduced.
the flippers are nothing more than a buffer for the free market to correct the consistent under pricing by Rolex SA... they are a function of the free market, and supply = demand
I don’t know if two-tone yachtmaster 37 is hard to get watch,but my brother bought one from Abu-Dhabi AD without any problems…I think this year I will end my journey in watch collecting with steel YM 37 from same boutique… Thanks Britt,I built some insaneee 4 piece collection based on almost 2 years of your advices.
Picture me watching the new Gringa video on my phone, while watching the Spanish GP on the TV, while watching live timing & scoring on my laptop. It's a good Sunday 😄
Lol, years. On the list for a simple black dial 41mm OP with a 20k purchasing history since march 2022. I don't think they get a lot of watches in and they seem to sell to drug dealers anyway. But I don't want to hop over to London to get on a list. London is not a nice city trip anymore so.
@@stephenfitt5633 @DaemonViews Years; that's nuts! Would people still be interested in the watch after waiting years to purchase one? I'm not a patient person so I'm contemplating buying a Pepsi off Chrono24, but I also don't want to indulge the flippers.
I’m just starting to look for my first Rolex. It’s disappointing to hear about wait lists etc. My debate is heading towards buying a vintage datejust for ~$4,500 or try to just buy a new Oyster Perpetual for like 6k. But it’s hard if I can’t just go buy one new.
The rolex ad bs is just too much for me to want to deal with as a prospective buyer. It's not worth my time when I can happily go buy a tudor or omega with less effort and ass kissing required. If I really want a rolex I'll just buy grey market
Gringa Sunday 🎉 I don’t know why but It just came to my mind when you used the dancing Bart Simpson with a cool music as an intro to your very early videos 😅. Gringa OGs will remember.
Recently my girlfriend dragged me into a Vacheron Constantin store after I drooled at a 222 through the store window and even though I made it clear from the beginning that I couldn't afford any of their watches, the store clerk was super friendly, asked us how we got to know the brand and what we liked about it, gave us a brief summary of the company's history, then asked us to sit down, eagerly showed us first a display case with their movements and then almost their entire collection and let us try on whatever watch we wanted. What an experience! Rolex, take notes...
Don’t forget Rolex sells 1.2 million watches a year while VC maybe 40.000. It’s not the same league that’s all. But I understand strongly this great customer experience.
True. VC makes watches for a far more exclusive clientele. Which makes the (non-) customer experience all the more amazing, imho...
Same experience for me at AP
But did thy let u purchase a 222??
That's great to hear
I’m sure I’m in the minority here, but I’m not visiting an AD and chatting watches in hopes of getting something. What a sad reality for those who are. Too many great watch brands out there to play the “kiss my AD’s **s game”
I don't think youre in the minority at all!
I don’t think it’s a matter a kissing a$$. It’s more about showing them that you are not going to flip the watch. If they don’t know you, why would they just effectively give you a bag of money?
That makes me sad, I drop in & Im not even on the list😂
The watch flippers have done this, not Rolex!
Unscrupulous AD’s maybe!
But…. I can only speak as I find!
The AD’s I deal with have been nothing but transparent and professional!
🤷🏻♂️don’t know what else to say!
A friend of mine bought a brand new submariner from an AD at grey market price, so yes AD’s do shady deals.
I used to Like Rolex. I still have a couple. But i'm not playing stupid games to buy something that is already overpriced. They need to kiss my ass to drop $20k on a watch, not the other way around.
Exactly. It's amazing how people keep defending the AD by saying it's normal because the Rolex is "basicly a bag of money" or "luxery". I guess it is a license to treat your customers like shit.
Right on!
Well said, totally agree.
Bravo! Perfectly stated. The slightest whiff of bullshit at any ad and I am marching for the door.
You make a great point. I have wanted a GMT or an Oyster Perpetual for 4 years now in the US. The price keeps going up in parallel with my ebbing interest. So by 2030 (it takes 1 year to make a Rolex), my interest in the GMT will be zero. For the record, I do not bother to visit the Rolex museums nor enter the store as soon as I see the Exhibition Only signs in the display windows. Is this called reverse marketing or demarketing, Rolex?
Building up a relationship ? The idea that one has to "build up a relationship" with a Rolex AD, just for the huge favour of handling over your hard earned money to them is rediculous. It's not a job interview or a first meeting with the family of your spouse.
It's pretty stupid when there are plenty of other brands.
I don’t think you understand luxury.
The idea building a relationship with someone you want to do business with is somehow insulting is funny. You’re not buying a soda.
I mean your spending thousands of dollars and starting a relationship journey.. it's a luxury item. Just how it is. You can always go to Breitling and Tag and buy basically whatever you want. Omega your gonna have to start a lil relationship or go to Macy's at the mall and buy Movado or Bulova
@@craigborrenpohl1233 I really don’t want to be “urgh new money mentality” but it’s a very different experience when dealing with old, entrenched maisons. Whether you think Rolex should be is one thing, but that’s how they’re acting:
And to think you used to be able to go into a shop and *buy* what you went in for, with your own money, and walk out with it. Now, in effect, you have to bribe shop staff to be allowed to spend your own money. Beyond bonkers.
so let me get this right ,,,,, if you just walked in and bought a steel Daytona on the spot you would now be up thousands of dollars ,,,,, right ? ...... can you think of any other store where you can walk in ,,,,, stroll up to the salesman and say " please write me a check for six thousand dollars " ..... and they just smile and do it ? Pretty obvious they give you money only if they think you give them even more ,,,,,,
@@robbase-f6xIt's only that way because you have to do the whole AD dance. If you could just walk in and buy what you want, there would be no premium paid on the secondary market. It hasn't always been the way it is now.
@@robbase-f6x And what shop sells a product for $6k less than they could get for it, eh? 🤔 Why not sell it for more than the used price, it is brand new after all? In the UK legally retailers cannot be told what to sell something for, and yet…. Go figure who is rigging the market and how scalpers get product.
If you *could* walk into an AD, buy and leave with a Daytona, used ones would *not* be worth more than MSRP. Scalpers are banking on you be daft enough to pay over the odds for something that is not only non-essential and secondhand, but also tangibly not worth even the MSRP.
@@robbase-f6x They’re not *giving* you anything. You have to have the substantial amount of money to buy a Daytona. In any normal marketplace *no* shop would sell a product brand new for less than its secondhand price, and in the UK it’s illegal for a manufacturer to dictate a sale price to a retailer. That’s why the S in MSRP stands for ‘Suggested’. And yet…. You want it straight? It’s rigged.
@@robbase-f6xlol it’s none of their business. They are AD. They sell for MSRP. It doesn’t matter what I do with it after.
Even if I had secondary market Rolex money, I would not buy one. It’s a matter of principle. I’d just go buy something more unique and better for the same price.
I am exactly the same!
Thankfully I don’t give a hoot about Rolex. The real tragedy is watch channels being forced to publish Rolex-related content to appease an algorithm in the hopes of getting more views.
re: #4, I've said this before and I'll repeat it here again: My Rolex AD here in SoCal straight up told me that clients who bring him gifts (he suggested "such as a very nice bottle of wine") are "enjoying their rolexes today." It turned me off the brand to such a huge degree that I'll likely never own a Rolex. If that's not only so standard that he can feel comfortable telling that to me openly, and so accepted by the typical Rolex clientele that it's become a usual expectation, the brand itself has nothing to offer me. Rolex in my head isn't a luxury watch anymore; it's a watch for easily manipulated suckers. And that's my first reaction whenever I see one now: "wow, what a sucker." And I'm ecstatic about my Omegas and Cartiers, which feel truly luxurious in comparison, because they were purchased while sipping expensive champagne and being treated with respect.
Which dealer please? You don’t like him so call him out!
The AD I've been talking with said the opposite. They're not allowed to accept gifts from customers. Call them out. This will get their AD status removed if it's made public to Rolex.
@@ransom1004 I don’t think that’s true bc I gave my AD person in SoCal some small gifts and she happily accepted them 😹😹😹
It is definitely the brand of suckers these days, but sadly these days suckers often make a lot of money
I'll take "Things that never happened" for 500, Alex.
The irony is the flippers are the ones with the track record! They keep buying and flipping
Exactly. They are the ones that has build a relationship with the AD.
No, because if we who work at an ad sees aperson flip, he wont get to buy again easy as that, Do we know all that flips? No, but if someone regularly flips, we get to know, belive me.
Rolex/ADs could solve this whole thing by just being more transparent about the actual wait period. In my opinion it’s the “you may never get the call, who knows?” that turns people off, not the actual waiting.
The big thing is that it's pretty much just Rolex. If this were the case for every luxury watch we might have a slightly different conversation but Omega, Breitling, Tag Heuer, and plenty others are more than happy to take your money without knowing you and potentially never see you again. And they'll treat you fantastically doing so. I should know as I'm not someone with a lot of money and have been treated very well by associates in boutiques from all three brands
Exactly. Put me on the list. If I'm number 725, when [watch of type I requested] #725 come in, I should get the call. Simple. I don't care how long it takes. I care if I'm being jerked around.
Last AD I visited accused me of wearing a fake. (It was a 16700 Pepsi)
Then proceeded to act as if I'd come in off the street begging for food.
This is how they treat someone who has been buying and wearing their brand for 20 years.
Needless to say I'll buy my watches elsewhere.
I got "the call" for a sub, told them I'd lost interest and to give it to the next person on the list. Guy was shocked.
I can't figure out why a watch brand that sells more than a million watches per year can be called 'exclusive'. It should be called industrial mass production, which is not a bad thing at all. If this exclusivity thing is important to you, be happy as long as not everyone can simply walk out of the AD with a watch and go to your friendly secondary market dealer and pay the market price. Or simply buy another and maybe better watch from a not so overhyped brand, which might be really 'exclusive' because that brand produces only a tiny fraction of what Rolex produces.
That's what drives me insane about this. If you want a watch as rare as Sub or OP, buy a Longines. Longines produces around as many watches per year. If a Longines isn't exlcusive enough to warrant the waitlist and grey market, then a Rolex shouldn't be either.
I think you are correct but are neglecting the breadth of their catalog. From what I have read, the split is 54% classic, 46% professional. So let's say 650K Datejusts, OP, Daydate, and Skydwellers, 550 K Subs, Daytonas, Seadweller, AirKing, GMT, Yachtmaster, and Explorers. I've read about 20-30K Daytonas are made a year, but I've also read 100K are made. Of those Daytonas, how many are Panda's? Remember, the Daytona range fairly broad, with many dial and metal combinations. I think 5K-10K Pandas is a good estimate at if 30K are produced, which is a pretty big number, but for the whole world, it's somewhat limited. Also, remember, Rolex is a business, they are not going to shift production to meet global demand, it wouldn't make good business sense.
Showing your face to jerk of AD's regularly is in itself an annoying action to have to undertake. Money is the same for anyone. Purchase history is BS. Buying other things to bribe your AD is criminal.
🤣🤣 YUP! It’s a very annoying game you have to play but it really is how you build that relationship!! I think it’s especially annoying if you don’t live in or near a major city. 😢
It’s not how things should be. But sadly, it’s how it is!
It's not just flippers, it's Rolex and their AD's too with their whole, establishing a buying history. That should be outlawed and be looked at and prosecuted under the Consumers right act. Rolex is just a scummy company. Yes I can afford one, so none of that you're just jealous crap.
I'd like to know how that case the French authorities brought against Rolex is going. It's demeaning having to go in and be false and kiss arse for what is, a run of the mill watch. People should really look elsewhere
@@waynemoore9951 think Rolex got a 100M fine.
@@BrittPearceWatches I'm a trauma surgeon. Imagine you get driven off your bike and suffer life threatening injuries. Then I come in and first determine if I like you, then if I want to and after that decide to or not to threat you. How would that be normal. I'm not attacking you Gringa but it is the world on its worst behaviour.
The amount of relationship between an AD and the potential buyer should be: AD has a product, he wants to sell & the buyer has money, he wants to spent. Period.
.. and by the way imagine if you project that "building a relationship" crap to a regular super market or grocer.
"oh, you can't have a banana right away. You have to buy some grapefruit and citrus first. And maybe some apples too. Then and only then, we *may* allow you to buy a banana".
It’s conversations like this that have absolutely destroyed the Rolex brand for me. It’s such a bore-off, so tiresome. I have three Rolex, DateJust Palm, Explorer II Polar and a SubDate. Don’t wear any of them much any more. It’s become so passé to wear a Rolex in the UK. The whole conversation surrounding the brand and what it now means to wear one. The only people you see wearing them in the UK are the new money types, wearing skinny jeans/chinos, tight fitting polos, Patagonia gilets, deck shoes and definitely arm tattoos, if not the old full sleeve. Rolex isn’t cool anymore. I know a lot of people will say, who cares….but Rolex these days are a luxury jewellery brand with closer ties with fashion than engineering in the eyes of many. I’m done. I’m going to be selling all of mine closer to Christmas and looking further afield.
the other day I was shopping and I walked past a Rolex AD and said to my son so that the people inside had to hear it. “Look son, this is a Rolex museum”
Not even a museum.In a museum I feel welcome.
"I have an amazing AD"
You're also a UA-cam watch star, so im sure that plays a role
Any AD at this point in time does homework on their potential clients. Someone with a solid internet presence will get preference.
On the list at one local Rolex for four years. Actually purchased somewhere else, but I’m waiting to see if the first ever calls.
Called another AD about inventory. Was told to fill out an online application and plan on doing an interview. No thanks.
03:06: Your calculation approach is wrong: the figure 24640 is a snapshot. To be able to compare it with the number of watches sold by Rolex in a year, you would have to have the number of adverts over a whole year.
💯
Hey Britt, that's because the ADs themselves are the flippers. They get the watch direct from the manufacturer at a 40% discount. They aren't selling that time machine at retail; they want the full whack-up in the secondary grey watch market.
In Germany the story is different. About 50-60% of the Ad‘s will only sell you sought after Models if you buy a few other undesirable models along with it(Breitling ect.). Ads here are really greedy
OUSH! Ok! This is really good to know! That is freaking crap!
Same story in Austria. I'm currently on the edge of buying my first luxury watch. I walked in on an AD just to see if an OP would look good on my wrist. I stopped there after work (properly dressed, good behavior) and they didn't even want to show them to me (even with them on display). So I went to Omega and had a great experience. I think they don't need a relationship, my money seems to be enough for them.
Similar situation with a couple of ADs in India
Was this in Vienna? What stores did u go to as there r more then a few Rolex ADs ..?
Walked into my local AD in April and expressed my interest in an Explorer 36. Said I would prefer to buy locally if possible. She took my details, asked a few questions, and said she would contact me when she had one for me. Got the call inside of two weeks. The whole experience was lovely.
I asked for a 41 mm celebration dial - they said those are super rare and they don’t see many of them. They called back in a month and offered me one. I bought it and love it. Very fun and informal watch and under 7K. Not all AD’s are jerks
Where r u located?
The fact that one watch is sold to a Flipper is a problem. I know that the waiting list is BS but isn’t Rolex supposedly “screening “ who they sell their watches to so as to stop flippers? Let’s face it, Rolex and their BS practice suck.
I got my dream Rolex (Explorer 40) in two weeks with no previous spend. Not the hottest model, sure, but the AD was absolutely fantastic; no BS or silly games. In fact, they were delighted to serve me delicious coffee and chat generally about watches. A surprisingly excellent experience!
Great video Britt. You’re the kind of customer most AD wants. Someone who buys jewelry and other brands so when time comes, the AD tries to keep that relationship going by offering you the coveted piece. I don’t think there is anything inherently wrong with it, but a lot of us can’t play that game. I do love other watch brands, but I can find them for a lot cheaper on the gray market. I recently acquired a brand new (with stickers) Tudor BB Pro for around $800 less than what I’d have paid at my AD with taxes. I also bought a brand new Longines Zulu GMT for around $400 less than AD’s price. So in the end, I rather pay less for non Rolex watches and use that savings to pay premium for the grail piece like a Daytona or a Pepsi. Math evens out
Glad that you said that luxury watches are unimportant. We, as a society, are way too materialistic.
What drives this even more is that all of the Rolex competitors have online storefronts where you can just buy directly from Omega or Tag or Cartier. It’s really only Rolex that is so over the top in this price point
Who is getting the call mostly? The average worker, who worked 20-30 years and wants a special watch, his only watch for an anniversary after so many years?
Nah... it's the guy who drives a G63, 6ft, trust fund, works in finance/lawyer/real estate making tons of money and couldn't care less if he gets it or not and probably gonna get bored of it in no time...
or the flippers...
@Watch_for_me I got „the call“ 2 weeks ago. And last Friday a 2nd „the call“. But that’s because the market is cooling down.
@@PatricksFinanzenwhere was this?
@@neznamtija8081Switzerland
I’m a lawyer and do well and still haven’t got a call for a Rolex. This brand thru ADs are indiscriminate and treat everyone equally like trash who don’t fit their “profile” re: grey market dealer who buys their other brands in bulk to cut in line for a Rolex.
The Rolex agent near me lost the franchise for “selling” a new watch to a “friend” and then sticking it straight in the window for sale twice the price…
At least there was a consequence for him. For most ADs? Not so much.
I've got a grey dealer near me that has at least 4, 2024, GMT II Batmans. They have multiples of the other color combos. How?!
The problem with Rolex these days is no one cares that you have one and they just assume it's a fake. That has destroyed the whole "exclusivity" vibe that Rolex tried to create. Buy an Omega or Breitling if you want a nice sports watch. Walking into a Rolex AD with wagging tongue and kneepads is simply not dignified.
The thing is: why should I need to "build a relationship" with an AD to get a watch I want? If I want a watch and they won't arrange it for me until I buy a bunch of things I don't actually want, then the system is not working as needed.
This is not about scarcity. This is about ADs weaponising scarcity to exert power over customers.
Why should an AD sell you something that you can sell for profit the second you walk out the door?
@@cecaju9516 I understand your point, but my assumption is that the vast majority of people who wish to buy a watch are doing it for personal use, the video itself makes the point that people reselling for a profit a small minority of overall buyers.
I can walk into a Footlocker and buy a pair of sneakers, even though there's an active secondary market for them. The salesperson at Footlocker doesn't require me to buys a bunch of sportswear I don't need first.
@@cecaju9516They do already. Or else there woudn't be Rolexes on the secondary market. Having a customer who bought other watches at your store or can suck up to you like a pro doesn't guarantee anything. In fact, their unwillingness to sell is the reason why people rather buy from a flipper in the first place.
@@cecaju9516You must be one of those Apple afficionados?
@@urbanracer032 you must be one of those flat earth conspiracy theorists?
I got both the stainless steel models I wanted for retail price from the AD, all thanks to having a VIP friend. No way would I be buying 'starter' models just to build up my spend history.
I’m on the fence about how I feel about buying extra jewelry to get a Rolex voluntarily. However the last time I was offered a stainless sports watch the salesperson demanded a bribe. I turned it down. Probably not getting the call again. But it made the experience feel coerced and filthy.
If you walk into a store, see the watch you want to buy, and they don't want to sell it to you. Well that is the end of it then. Given demand far exceeds supply, they should just double the price to balance the equation. But if you have the money they ask, you should get the product, simple as that.
Canadian AD won't sell anything even entry level for a few years now
It triggers me when Britt talks about accessibility to watches when she is obviously benefiting from her channel at this point & prior to that her husband’s AD relationships. She was “in to watches” for about 1 year & (hubby)received a Black Daytona allocation for Christ’s sake(pun not intended). He is the .05% that is allocated just about anything he(they) want. He got an FP Journe allocation. So she has never been just a normal watch enthusiast trying to purchase hyped pieces
Here you are again claiming to know what I do and don’t get allocated 😂 Do we know each other? I’m pretty sure I don’t know you.
This year (2024) I bought a Rolex GMT Master 2 "Rootbeer" from Watches of Whitby. Paid £15k and watch arrived next day... Rolex RRP is now £14,750 so at least I got my watch.
Arrived in mint condition, full set, very happy.
Yeah that is a better idea.
If you had to wait another year you would have paid more with price increases so this saves money in the end.
Buying jewellery in no way shows that you are a serious watch collector, which appears to be the justification for dealers taking purchase history into account. For that reason it is better to deal only with dealers who exclusively sell watches.
I agree this is bad dealers that are just dangling the carrot. One tried it with me and I told them straight out that I will not be playing that game. I may buy other watch brands of watches I like but that is all I am willing to do to try to get a watch I want
What is this watch collector thing,u buy if u like it or to celebrate a occasion or need not to build a collection just like that
I have never had a Rolex AD mention buying jewellery lol 😂
Is it an American thing?
It helps to be a previous customer rather than a random off the street trying to flip a watch, but why does jewellery keep getting mentioned?
Buying a watch for yourself to ‘celebrate an occasion’ is another crock Americanism. It’s just an excuse to buy a watch and/or justify it to other people.
Grow Up/Man Up lol
I gave a Rolex to an ex girlfriend.
She later went out with an American guy and he could not understand why she had been given one as a 21st birthday present.
Americans are weird about drinking too.
Here in the U.K. we do not need an excuse to buy Rolex’s or get drunk, it’s a daily occurrence for some 😂
I hate the purchase history thing. I expect most people would be saving for a Rolex for a few years, in a country where so many people have to choose between heating and eating, not buying one Rolex a year or something. And what if a person who has plenty of money just wants one Rolex ever?
This is the thing, you are so right! It's definitely not the way things SHOULD be. :( The big problem is: There's so many people who aren't choosing between heating and eating who can easily afford these things and a lot of AD's just allocate to those people. It's really, really NOT RIGHT and it's far better for these to be going to those people who have been saving and dreaming!
@@WrightsW5 I think it’s like a loyalty program - more you fly, more you get upgrades, the more you buy, more you get daytonas😂😂
The thing is, at this point I''m not even bothering to enter a Rolex AD shop any longer. I spent my last 100K€ in Grand Seikos instead, because their boutique in Paris makes me feel like a valued customer. When I see someone with a recent Rolex, it spells "victim" to me, and I don''t want to be one.
Im on the waitlist for a Casio f91w at Argos Huddersfield so far 6 months and still waiting,I even bought the sales girl a bottle of grey goose
I'm having a hard time reconciling the "ADs backdooring Rolex's is a conspiracy theory" and "Rolex has really been clamping down on this." What are they clamping down on, exactly?
Well ADs have lost the AD status because they’ve sold to flippers. Rolex U.K. has blacklisted clients who they’ve found selling watches.
Edit: Rolex UK have asked ADs to blacklist clients.
Around ten years ago, I visited the local Rolex AD here in Fort Wort. The reason was that I wanted to have my Longines Hour Angle watch serviced. The guy there made some comments along the lines of, why service a mediocre watch? For a little bit more money, I would be able to buy a TAG Heuer or a similar thing, and with these purchases, I would be able to get a buying history that will allow me to buy a Rolex in a couple of years. To this, I replied politely that I don't have any interest in or desire to own a Rolex, TAG Heuer, or anything else beside an Omega. And with this, I left the shop without spending any money on servicing my Longines there. Someone else got the job. That was the last time I set foot into a Rolex AD.
Well done.
Great Story 🥱
If it’s true it shows the difference between US and U.K.
nothing to do with Rolex ; )
@@alfieakaronaldog Unfortunately for this AD, the story is true.
@@TheTejanoJose If your Longines was serviceable by them then that should have been the only discussion.
I guess asking if you would like to look at a new watch in addition would be good salesmanship too, but don’t disrespect the watch and your potential customer!
@@alfieakaronaldog I asked them to send the watch back to Switzerland to be serviced by Longines. He told me that this would cost between $800 and $1K, which was too expensive anyway. Next came his comment about the quality of Longines in general, to which I replied that this watch was a wedding gift from my wife back in 1990 and therefore is much more valuable than just a simple dollar amount. The rest of the story is as described above.
By the way, I have nothing against a salesperson wanting to sell me a new watch, but don't try to sell me a TAG Heuer to build a buying history for a Rolex. Both brands are not on my list of desirable brands.
Building a relationship…. Thats pure BS. I got a sub with date in 2017 at an AD in India, when it has been out of stock for 5 years in Australia.
Past year , I have bought JLC, Omega and now an ALS as i no more wish to wait for ROLEX dickhead ADs to be happy. I got money, you got the product, Transaction.
This Tulip Mania will end and other brands have majorly benefitted with Rolex crisis.
Now they just supplying gold or dual tone , so you buy inadvertently and Rolex increases its topline.
I asked the same question today - artificial scarcity drives demand, which keeps prices high and in turn drives more demand. If De Beers didn't restrict the flow of diamonds they'd be everywhere and super-cheap. Only by making them scarce did they keep prices high (along with 60 years of marketing to tell us the same).
I agreed. I think it is getting more available now. Bought an Explorer 40mm last month. AD was friendly and approachable.
Forget about getting a Rolex in Vancouver BC, been trying for years. But yet there is a flipper on Chrono 24 who somehow has over 400 brand new Rolexes for sale and they are located in BC. How did this flipper get so many brand new Rolex’s??
There are plenty of other fish in the sea, JLC, Cartier, Omega to name a few. If you happen to deal with a stand up AD, fine. But personally, I would always only consider spending my hard earned money at an AD, when I feel treated like a valued customer rather than a supplicant.
I feel the same. Buying a luxery watch (especially if it is the first time) should be a nice experience.
The bit I don't get is the notion that it's okay for Rolex to gatekeep their customers and decide who is worthy and who isn't. When I bought my new car in April, it was extremely hard to find. I spent about three months locating a dealer within 10 hours' driving distance and finally got one. I signed the deal, I had the car and they'd never met me before in my life - for a $54,000 car. Why is a watch any different?
With the Rolex prices going down on the grey market now the difference from retail price is reducing, and if you don't need to purchase other brands or juelry you can think about the secondary market if the difference for sought after models is no more than 2/3k.
Not everyone selling a watch in the first year is a "flipper." I know a guy with too much money who wears a watch for about a year and then moves it along, usually at a loss and occasionally a profit. He just loves watches but is on to the next thing. There are a few that have stayed in the collection, but all the Roles got moved on.
AMEN!!! And another big thing, that I wish I said, sometimes the buying experience is so tricky because… like… you’ll be on the waiting list for years! You’ve maybe never even tried it on! Then you get the call, FOMO kicks in and you buy it… then it ends up that you don’t love it. 🤷🏻♀️ it doesn’t make you a flipper to sell things on!
@@BrittPearceWatchesabsolutely my experience !
It’s just so tiresome that there needs to be any “relationship” built to buy something in the first place.
I’m a customer with money who wants a thing. That’s where our “relationship” should end. I’m not there to make friends or impress some stranger gatekeeper when I’m already strolling in with $10k+ that I’m looking to drop on something I don’t even need.
I’m not looking for a relationship. They have the entire customer/retailer dynamic completely backwards.
I should say, though, that I really appreciate this video and think you did a great job on it 😊
I’m frustrated with Rolex, not you 😅
I know that there are, I used to watch the timepiece gentleman series, and I could remember him calling AD’s and getting watches from them to sell to his gray market customers
Nothing wrong with giving pleasant people, nice customers, repeat clients etc more attention. They deserve it! Even people who don’t necessarily spend big but do spend and are nice about it.
Im a fan, fellow Canadian and enjoy your channel and commentary.
Just have to add my two cents here. I have to respectfully disagree with you about WHY AD would rather sell Rolex to customers with a long purchase history.
You believe it’s because the AD wants to weed out flippers.
In contrast, I believe AD mostly sell Rolexs to customers with a long purchase history as a way to maximize their profits on the Rolex watch. They want to make more money off that Rolex watch so they’re in a sense forcing you to buy 3 - 4 items on top of the Rolex watch.
And the ADs are able to do this because the hype for Rolex. Customers are willing to make multiple purchases just to get a chance at the Rolex watch if their choice.
Again, just my two cents. Keep up with the great videos 👍🏽
Love Britt’s vids - so genuine! As always, thanks for the tidbits of wisdom and all the best with baby watch collector.
Just picked up a tudor from my AD. I'd like to get a datejust too. However, im a little concerned if I put my name down I'd get the call too soon, before my watch fund has a chance to recover.
Why would I lower myself having to beg?
Would you buy the celebrate dial if it was a Tissot, or Longines? ....
Note to self. I need to build up a relationship with the “jewelry “ clerk at wal mart to get the g shock I really want. 😂😂😂😂😂
And buy some fruit, or you won't be allowed to buy your desired model 😆.
It's ridiculous beyond believe. What's the purpose of an authorizd dealer? To have the models on display for you to choose the one that fits best.
You won the comments section today! 😂
@@jacobsvideochannel5998 ewwwww. God no. Have you seen their produce? 🤮
I literally just walked into an AD 2 weeks ago and got a 40mm Explorer... That's probably how the flippers are doing it? They're just lucky? Honestly I think the salesman just liked me. I was genuinely in love with the Explorer (and I still am) and he could see it in my face, so offered me the one I was trying on. I know it's not a Daytona or something, but still, it made my month.
I just got called up today that a GMT Master II that I asked to be put on the list on three weeks ago was now available to be picked up if I wanted it. I had no prior purchases from this AD and didn’t do any song and dance for the salesperson. I was just cordial and mentioned that I was interested in this watch and asked if I could be informed if one becomes available. Sometimes, it’s just being at the right place and at the right time.
Agreed with it is (mostly) everything about the relationship with your AD. My first AD Rolex purchase was a Pepsi. Last year. First ever purchase with them. However, I had a purpose and a reason why I wanted the watch and the representative did everything she could to make it work for me and see me happy. It was worth the world to me.
Why not just raise prices to find equilibrium, like a normal business?
So not pay over retail for a watch but spend thousands of dollars on watches or other jewelry you don’t want in order to get the watch you want at retail. #logic.
Some jewelers (at least here in the Netherlands) also sell used luxery watches. (Including Rolex). And the prices are reasonable. But I don't want a Rolex anymore.
You are spot on! I work at an AD since 2018, so I have been there for the ride. All you said is true, we don't sell to flippers, just liken you said Rolex tells us to make sure the right customer gets the watch not the flippers, and it's not about playing a game! Believe me we know when someone plays the game, if someone is genuine and really is a collector or really is interested it shows, there are so many red flags that you can pick up if someone is not genuine. And btw just like you said we sell to good people who we like, heck I have sold Submariners to first time buyers that I have learn to know and it makes me happy to sell to somene who gets really really happy. Btw thanks for your videos they bring me joy ❤
what's your thoughts about a watch with diamond on the dial for men? lets say Breitling cronomat for example
It is just so basic of an analysis. Fact #1: can't get new Rolex at retail at an AD - not possible for 99% of people. Fact #2: there are over 25,000 Rolex models from 2023 and 2024 on just Chrono 24 selling at at least $1k-$2k+ over retail. So you absolutely can get a new Rolex right now, you just have to get it on the grey market at $2k over retail. There is CLEARLY a system that is broken here.
Any economist would immediately pinpoint the problem here - Rolex are underpricing their watches, given that demand is outstripping supply (and has done for years). If they raise their prices then fewer people will be able to pay the retail price so the waiting lists will get shorter. Keep raising prices until there are no waiting lists for most models. Problem solved and Rolex would be making more money.
If Rolex were a public company their shareholders would force them to do this. But as they are private they are free to act irrationally.
But the most irrational thing they do is continue to spend vast sums of money on sponsorship and advertising, which helps to boost demand. But they already have more demand then they can cope with! What are they thinking?
@@ChrisWalker-fq7kf 100% agree, just get the retail price to what the market price is and let us who have the $$ walk into a damn store and buy one instead of needing to suck off a smarmy AD rep
Who gets in-demand models from ADs? People who have spent a lot of money with them, and famous people. Period.
The sales guys have no power to approve the allocation, they have to submit to the management for approval of which the management will decide based on purchase history among all the customers.
What if you’re not a collector who’s gonna buy multiple watches but just want a hard to get watch?
11:47 :)
I feel look a ton of buyers will/have just looked else ware. My grandfather bought my uncle a watch for college graduation, he's still wearing it now 50 years later. A father couldn't do that for a child today. My other grandfather got a watch when he retired from his company, a uncle wears it now. Again, that company won't be buying Rolex in the future. These kind of buyers looking for commemorative watches aren't guna get on a wait list. Their just guna walk across the store to a non Rolex case.
Walk in with your son and explain you want to buy him a watch today and you'll get laughed at.
I was reading the James Bond novel "On her majesty's secret service". Written in 1963. Where Bond damaged his Rolex (using it as a knuckle duster). And decided that he wanted another Rolex. So he's going to the shop to pick one up on the next morning. How time has change. And in case of Rolex, for the worse.
I've largely tuned out of the "big" brands since the relentless, outrageous price increases and false scarcity since the pandemic. Amazed people are still willing to put up with the Rolex AD game....
only VIPs get the in demand models..There is no list.....
I am so put off by this brand at this point. With all the "attitude" towards its clients, I just don't feel like I'm a Rolex person anymore. I just wanted a one and done watch as I'm not into the idea of having to buy a Cartier and a necklace in order to maybe hope have an Oyster Perpetual some day. Sorry Rolex. 🤷♂With this being said, I think Rolex will do just fine without me. Omega has some nice products. 😁
Exactly! Once you have a Cartier… you’re all set 👌🏽
How long you’ve been waiting for yours, Britt?
Went to the AD in Darmstadt German on Saturday, didn't get a Rolex ,but they treated us with great respect, and I kept the salesman busy for almost an hour, Till Hartman is a great ambassador to the company and brand.
I have been trying to get a pair of OPs for my wife and I for over a year, blue dial 41 for me and turquoise 36 for her. I have a substantial purchase history with this AD across multiple brands, including four other Rolexes, so it’s not spend issue or relationship issue. Based on what they’re telling me, assuming it’s the truth, they really aren’t seeing many OPs right now. Theory from manager is that Rolex is focused on the precious metal watches because of the higher margins. This is in the USA so maybe different in other countries.
One strange thing I noticed what potential buyers are doing is leaving positive Google reviews on Rolex ADs in my area even though they didn't buy anything. I guess people will do anything to get ADs to sell them a Rolex.
Not me. I left nasty reviews after they treated me like dirt. Claimed my name was on list but it's been over 6 years for a darn sea dweller. Ive made up my mind that i will never buy anything from them nor any of their related establishments under the group.
For a fair comparison, if you only choose AP Royal Oak Chronograph then it's down to about 80 pieces. So that's a lot less than Rolex though it's cus AP makes much less watches.Patek has only 40 but that's cus they discontinued the actual chronograph reference 5980.
On another note because Rolex AP and PP increases their list price way too often and way too much the margin is much less to flip so if they keep doing that then the interest in their watches will drop( less demand means more pieces available) so they need to be careful with that. Most stainless steel sports watches from Rolex are now available however so instead of of a sub, maybe go for a yacht master or sea dweller(originally same line but bigger). Instead of a GMT Master go for Explorer 2 black dial(similar function) and so on...
Another great video Britt! Love your content and candid perspectives - your hubby has a great collection!
Why does a dolphin need a Rolex anyway? ;-)
Indeed. Plenty of oysters in the ocean.
Hshaha
Cool video, never put much thought into this topic until just now. I’ve been a watch nerd my whole life but now that I’m a little older I am starting to dip my toes in the more luxury pieces I coveted in my youth. So fun. I have a fairly new to me AD but she is really awesome. It was helpful to have a friend refer me to her as well and he’s got a great buying history 😊 I have gotten a few “entry level” pieces from her and maybe one day a Rolex🤞🏽
With the secondary market collapsing we'll be back to sanity before you know it!
What I found interesting is, when I got the call that I can pick up my Rolex after 1.5 years. My LinkedIn profile got viewed by people from Rolex. 🤔
They select the buyers 😅
Generally like your videos Britt but you had a few ridiculous stances in this. The idea of building a relationship with a store in an industry with HUGE turnover that hires entry-leave employees (that's who retail jobs usually attract) is one of the stupidest stances I've ever heard. It's one of the most self-deprecating things one can do while still being civil. Even worse is "spend more" with your AD. Why though when AD precious product is so often generic, blandly designed, poorly manufactured and with zero transparency on cost of metal/labour (ie. you're paying for marketing). As someone who likes to collect real luxury watches ($10K+) and buys a lot of yellow/white gold/platinum jewelry, I've learned that ADs offer the absolute worst value for money. The designer pieces I have from them are ALL among my least favourite today. Whenever I go into an actual goldsmiths (the real thing, not just a company who names themselves as such to make you believe they know how to manipulate precious metal) I find truly unique pieces that attract the most compliments and make me feel so good about spending that hard earned money.
I’m over Rolex these days. I focus more on vintage pieces and other brands . Been waiting for years for some models which I’ve been turned off overall for the brand .
The data analytics are a bit off here respectfully. The grey market isn't just chrono 24. Plus that is chrono24 at one point, not an annual turnover of watches sold even there. Even in my town there is another watch store full of sports rolex
You are also skewing this based on your relationship with an AD as a regular buyer of luxury watches. The average person is simply never getting a Daytona at retail as a first time watch. I have a nice relationship with my AD and have bought a few watches there. With some waiting I'd get an explorer/exp 2 in a few months or a no date sub with maybe a bit more waiting. You are not getting the grey market flipper specials without a massive purchase history even in the UK.
I'd like to see you try and purchase some of these models from a random AD.
ADs are selling out the back door to flippers. Of course, this is happening. They aren't supposed to, but they do. Why? Because Rolex ON PURPOSE under-produces the most in-demand models. I'm over new Rolex. Only buying vintage at this point.
Requiring a purchase history to buy a product is unethical, in my opinion. A watch is advertised at a certain price. If I’m required to develop a “purchase history”, then the price on a watch is a lie. All this controversy would go away if Rolex just charged what people are willing to pay for their watches.
I agree with you apart from your last sentence. If rolex had charged market value my rootbeer purchased in 2022 would have cost about £20000, I paid retail at £12750 and if I sold it now best case scenario small profit, worst case scenario small loss. Now if rolex charged market value that would destroy the brand. A new Rolex has always been 1 of the best products for retaining most of their value and that wouldn't have been the case if rolex had sold for market price.
I do think the ADs hurt the brand with back door selling.
What would have been better for the brand is for Rolex to take control make a procedure to to register on a genuine waiting list. for example I want a submariner.
I must go on the rolex website for the country I live in and fill out a form with my home address photo id/passport/drivers licence ect, then when that's all done I get to choose the AD and get issued with a code. Next step is visit the AD with my waiting list code from Rolex and that code can only be used once . That would have stop the same person getting multiple watches to flip. Also a buyer is only allowed 1 code every 3 years.
Rolex would gain lots of customer data for the cost to administer this system and flipping would be drastically reduced.
the flippers are nothing more than a buffer for the free market to correct the consistent under pricing by Rolex SA... they are a function of the free market, and supply = demand
I don’t know if two-tone yachtmaster 37 is hard to get watch,but my brother bought one from Abu-Dhabi AD without any problems…I think this year I will end my journey in watch collecting with steel YM 37 from same boutique…
Thanks Britt,I built some insaneee 4 piece collection based on almost 2 years of your advices.
how can a watch be in a window exhibition only when you are on the waiting list for the same watch
Picture me watching the new Gringa video on my phone, while watching the Spanish GP on the TV, while watching live timing & scoring on my laptop. It's a good Sunday 😄
We are doing the exact same thing right now! SPANISH GP ON THE TV, replying to comments on my laptop! ;) LET'S GOOOO! TAG F1 is on the wrist!
This is the video I needed to hear! I've been waiting for only months and it's killing me! What's the longest wait-time you've heard of?
Lol, years.
On the list for a simple black dial 41mm OP with a 20k purchasing history since march 2022.
I don't think they get a lot of watches in and they seem to sell to drug dealers anyway.
But I don't want to hop over to London to get on a list. London is not a nice city trip anymore so.
Definitely years, friend of my mine has been waiting several years for GMT Master 2 or green Sub. Edit, this in London
@@stephenfitt5633 @DaemonViews Years; that's nuts! Would people still be interested in the watch after waiting years to purchase one? I'm not a patient person so I'm contemplating buying a Pepsi off Chrono24, but I also don't want to indulge the flippers.
I’m just starting to look for my first Rolex. It’s disappointing to hear about wait lists etc. My debate is heading towards buying a vintage datejust for ~$4,500 or try to just buy a new Oyster Perpetual for like 6k. But it’s hard if I can’t just go buy one new.
Is it true that Rolex is building more facilities to ramp up production or to meet the supply demand?
The rolex ad bs is just too much for me to want to deal with as a prospective buyer. It's not worth my time when I can happily go buy a tudor or omega with less effort and ass kissing required. If I really want a rolex I'll just buy grey market
Gringa Sunday 🎉
I don’t know why but It just came to my mind when you used the dancing Bart Simpson with a cool music as an intro to your very early videos 😅.
Gringa OGs will remember.
FERNANDO! THIS WAS AN ERA! hahaha! Omg, I need to bring back some of the vintage Gringa intro screens!