Stop it! My Advice To Big Watch Brands! Rolex, Omega, Grand Seiko, AP and JLC!
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- Опубліковано 14 лип 2024
- Stop it! My Advice To Big Watch Brands! Rolex, Omega, Grand Seiko, AP and JLC!
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These brands should pay you for consulting . . . voice of the people!
The Rolex airport boutiques critique was spot on 😂 😂 😅.
Yep, I did turn to other brands like Breitling and Omega because of the Rolex arrogance. Those ADs were glad I was there looking. However, I was surprised at a Nomos AD’s arrogance. They just smiled and said “take it or leave it” with the quoted price. Didn’t talk about Nomos as a brand at all, or the model I was looking at. I was there maybe 10 minutes and left. Then I went to an Omega AD and bought an Aqua Terra within about 15 minutes. Price, attitude, it was all there. The Breitling experience was great too.
The thinking behind the airport boutiques seems simple enough: They're part of the overall strategy that markets exclusivity as a product feature-the more you see it in exclusive environments (such as international terminals within world-class airports), where you're enticed to pick it up, try it on...and then get told "you can't have this", the more they reinforce the perception that Rolexes are a privilege to be bestowed upon you when you've earned it, not a mass-produced commodity you can have as long as there's enough room on your card. It's disgusting and is creating a customer base I'd never want to be associated with, but clearly it's working for them...moreso now that they've also moved into controlling the second-hand market as well. The best part of it is that they're sending potential customers to discover far more interesting watches and brands. If all you want is that logo on your wrist, have at it, but if you want a beautiful, well-built watch, there are so many amazing places to go.
Federico is right on the mark with all of his suggestions for each brand.
Rolex revenue is bigger than the next 4 biggest selling brands put together. Id say their suplly restriction strategy is spot on as clearly omega sales are a fraction of rolex's
Being looked down at - EXACTLY my experience with their Hyland Park, Dallas, Texas boutique. I could afford their pieces - but I was totally put off by the experience. If you don't want to do business at retail... move to an office by appointment and require submission of balance sheet before allowing in.
Overall speaking for me the biggest issue for all brands is price increasing,
I walked into the local Rolex AD when I unexpectedly got off work early. I was in my work clothes that aren't very nice, and I was just there to see the difference between 36mm and 41mm DJ for future reference. The salesman immediately asked me if I want to try anything on from the cases. I tried on both sizes and we agreed the 41mm fits way better. We chatted a bit and he gave me his card and asked me to send him a pic of the configuration I wanted. I eventually did and he said it'll take probably several months but he'll keep me posted. I've seen him about four times since and he's showed me other watches he really likes, but he hasn't pressured me to get anything yet. I kind of made it clear up front that the DJ will be the first thing I buy from him, and then afterwards I'll pick up some other watches once I get the DJ. It's been a good experience.
Hope you get it! I was able to get an OP 41 without any purchase history but it took 1.5 years
@@SaintWill70 you mean soccer ⚽️
@@SaintWill70Differences between football and American football: Soccer (soccer is originally a British term, but was adopted by the US as opposed to "football")is the one where anytime your opponent has the ball you fall down and sob and wail until they call a foul, then you pop up beaming, reapply your lip gloss, check your hair, then jog around till you have to fall down again. American football is where you spend most of the time sounding like a half literate brain injury patient while lecturing people about morals in between your arrests for domestic violence and armed robbery.
Clearly, as much as I love most sports, I do not care for either of these, haha. Oddly, I love rugby very much.
Spot on Federico!!! Coukdnt have said it better myself. Especially with Rolex. There isn't a shortage. Go on any resale site and there are tons of the high demand models never worn for sale. I fully believe that most AD's are taking money on the side and giving the high demand pieces to the same people over and over again who just get them to flip them. I'm almost to the point where I will never buy another Rolex, ever!
Why almost.
Oh this was fun. I genuinely don't understand how Rolex benefits by the increase of their watch prices on the secondary market but the lack of availability has pushed me towards other brands and has made me learn a lot more. When I finally hit the stage where I could afford a 'status' luxury watch, I was disappointed to learn that I could only buy the Rolex I wanted through the secondary channel at prices significantly higher than MSRP. That just didn't sit well with me and in my hunt, I learnt that there is life, and a good one at that, beyond Rolex. Today I own a Reverso, BB58, JLC world time, and two GS quartz pieces.
I agree on the JLC advice. I've always had a soft spot for JLC. Exquisite pieces with a rich history and affordable to a degree. However, the price increase may push them out of my reach if I do decide to do what I shouldn't.
Agree on the Omega bit as well. Omega looks like they've lost their identity. I like the streamlined and true to original collection of the Rolex sports models. So many reiterations, limited editions, and changes at Omega take away from the luxury/heritage/identity of the timepiece. Change and innovation is great but I don't believe it needs to be so rapid in this segment of the industry. Same goes for GS as well... too many models.
People say the thing all the time about Omega, 90% of the time it is just people repeating what they have heard others say. If you want Omegas classics they are in the catalog. The limited editions are for Omega collectors / fans, who want something different. Rolex people confuse the brands. Go talk to Omega dominated collectors and you will understand.
I wouldn’t have bought a 58 if that is how you feel about Rolex, you can’t have a Rolex sir but we will sell you a few Tudors first.
@@Mr-Merchant. 1. I'm in the 10%.
2. 'Feeling' Rolex prices are too much when higher than MSRP in the secondary market affects buying a Tudor from an AD at lower than MSRP how?
@@msm9430 Well it depends how you feel about Rolex. Tudor is Rolex, so after they snub you at the Rolex AD, you go around the corner and give them your money. A lot of people would rather go to Omega or another brand.
@@Wjl889 In the short run what you say is true but slowly over time, be it 10 or 20 years Rolex will slowly their market share to the other brands. Omega, Zenith, JLC and so on are very happy with the Rolex market too so much so they have raised their price unusually fast (40% for JLC in the last few years) that’s because of the Rolex market. Look at Cartier and their rise in the last few years, do you think that would have happened normally? I’m not say they will get knocked off the top spot but you see what I mean. I wear the sapphire sandwich myself and have a few turtles and Willard’s. I don’t think the SD is tracked but can understand the Pepsi.
@@Wjl889 Much appreciate the explanation. However, my thick skull can still not understand why creating a shortage is necessary. I'll tell you why and the you can correct me where I'm going wrong.
First, the revenue. If there is a shortage, the high prices increase margins for the grey and secondary channels. Unless Rolex are supplying to ADs at increased margins as well, they're not really seeing any of those dollars.
Second, the demand and inventory. I'm not as well versed as Federico in watch production capacity but won't Rolex make much more if they can increase production to a degree. That way there'll still be scarcity but at least a few models would be available sometimes and contribute towards direct revenue for Rolex while still moving inventory.
I understand what you mean by how Rolex can afford to lose price elastic customers like us but what good would that do since customers who aren't so sensitive to the price would buy from channels at higher prices giving more dollars or higher margins to those channels; only benefiting Rolex if they are supplying at higher margins to unauthorized dealers which makes no sense. And what's the end goal? Make sense if Rolex wants to shift prices 'officially' into a higher bracket, i.e., perhaps Patek Philippe, Breguet, range. Would seem a lot more digestible to the average consumer if Rolex models are suddenly available at ADs 2 to 5 years from now for up to 2.5x+ the MSRPs we're seeing today.
I walked into the AP boutique in Las Vegas a couple of weeks ago and asked to see the Code 11.59 that was on display in the case. The employee on the floor told me I had to make an appointment "with a sales rep" and come back. Yikes!
Patek looks even more elitist, at least where I live. My coutry's biggest jeweler that claims to be the only authorized dealer for PP won't even let you inside. They have a special invitation only place just for PP. You have to be good enough customer first to get an "individual consulting and presentation session with specially trained expert".
Yep, I was there last week and had the same experience at both the Palazzo and Aria AP boutiques in Vegas. I ended up buying a watch from the Rolex AD in the Bellagio instead, and my wife purchase some jewelry from the Harry Winston there in the Aria shops. When Harry Winston is less pretentious than you, you know you've gone way too far. Vegas is all about tourists making spontaneous purchases. Having people make appointments for a retail store in Vegas is one of the stupid business decisions I've ever seen.
the appointment to see the sales rep in order to book another appointment to see the watch........
I always get a kick out of the snobbery from sales associates at luxury brands (not just watches). Even if I were not the richest guy to walk through the door that particular day, I guarantee you I am making many times more $$ than the staff who work in the particular store!
to me it's also a matter of maybe i'm not the richest guy now, but in the future I may be, and I'll always remember how I was treated in any boutique i've been to. And when I have the money to spend, I will pick carefully
Truth. I was talking to the Rolex AD and I was showing her my new watch and I asked if she got anything new lately and her answer was “ no of course not I work here”
@myemailiscool That brings to mind my experience in construction. My sales rep always treated me very well, good pricing, and taking me out for breakfasts over the last 10 years or so, even though my volume was tiny. Now I send a couple hundred grand his way every year. Yes I know, for a lot of construction companies that's peanuts, but I just run a trade. Because of how he's always treated me I will never bring my business elsewhere.
@@timothyfunk1883 That is a great example of what I was thinking about. You can tell a lot about a business on how they treat all customers from the big fish to the little fish. At the end of the day we are all customers of your business and there should be an equal baseline of how we're treated. Ensures repeat business for years to come
I find the best way is to walk in, stick my hand out and introduce myself to the staff and just say I'd like to look at XXXX. Doesn't really matter if I'm wearing a white T shirt and jeans, I'm treated like a buyer. (and I'm wearing an interesting watch).
Rolex comment; Absolutely correct. I own 4 of them. Two from AD's...I walked into the Boca AD and the 20 yr old POS sales person spoke to me like I was homeless. Almost worth the grey market prices to feel taken care of.
The Ed Hardy convention comment was epic. Hat’s off to you, Sir.
Went to buy my first luxury watch as a treat for my 50th. Went to the Rolex AD, was made to feel bad. Went to the Omega AD, was given champagne and invited to an open evening. I left with my speedmaster the evening of the event feeling great about my watch, along with a goody bag and buzz from cocktails and canapes. Two brands, one made me feel special, one kicked sand in my face. Couldn't agree more about all of the limited editions however. The classic moonwatch works well on the wrist. Don't turn it into a novelty item!
Dealers that do that are foolish. You probably told 5 people who told another 5 people and perhaps 1-2 of them also won't buy their brand due to your
experiance. 🙄
Grand Seiko did release a new mechanical chronograph movement this year, based off their 9SA5 caliber. It's in the GS Tentagraph, which I recently picked up and it's awesome :)
15.3 mm is just too thick, especially when the Daytona is 12,
Ready to buy as soon as they get below 13mm.
@cheemomugdoo799 deytona maybe 12 and doesn't have the top finishes like GS
@@mariodelatorre3211 I don’t disagree that Grand Seiko does a better job finishing their watches, but at 15.3 mm thick I don’t care how good the finish is, I’m not gonna buy the watch due to that size.
@cheemomugdoo799 in that case I'll rather get a casioak... those are 11...lol
The best experience is a place where you can walk in regardless of the brand and just be yourself, without having any pressure. No fancy language no need to stick out my pinkie drinking tea, no need for any formalities. Seriously, “what’s up dude” is cool with me and I’m way more likely to buy something like that. 😂 Never understand why when you see people walk into a boutique they all of a sudden turn into something they are not.
I totally agree with the Rolex boutiques snobbery.
I few years back, I walked into the Dubai AD to authenticate my own Zenith Daytona for a buyer. My request was refused in rude snobby manner and promptly escorted to the exit door.
Since then the Rolex brand is not a consideration for me, and I have purchased several high horology watches from other reputable brands who respect their customers.
So many boutiques are full of staff so up themselves and I do not know why - the staff in these places cannot even afford what they are selling, and they think they are doing me a favour by acknowledging me!!!
20 years ago, I bought a Sub that was sitting on display and I had the greatest experience. That is what customers want and deserve. Rolex must bring those days back to earn respect again. Rolex sponsoring Wimbledon, F1 or PGA means nothing to most enthusiasts.
Rolex must be doing something right with their branding though...
Federico saying it how it really is. On point about each brand. Rolex needs to have stand alone stores. No jewelry shops where they try to force you to buy jewelry to have a shot getting a Rolex.🤔
💯💯
Great video! I've absolutely left Rolex for other brands that I can actually purchase without having to spend tens of thousands of dollars on crap I don't want. There are so many other great brands to discover. Speaking of douchebaggery, I recently visited a retailer in Houston, TX that flat out refused to show me an exhibition Patek they had in the case. Just wouldn't do it. Crazy how these retailers think of customer service. Two brands with great customer service in the store: JLC and Grand Seiko.
Spot on about the really urgent need for Seiko to improve ALL their bracelets, PLEASE!
Omega needs to chill with their price hikes too. Twice in 6 months is absurd
Buy Omega used, are you nuts?
@@drbobsnightmare2521
Oh I agree, but $9k for the new Speedmaster is pretty egregious. Picked up my SMP300 new from Chrono24 for $4300 and now omega charges $6k
Love this guy. Hit the airport think perfectly. My airport here in Melbourne has almost every watch in the catalogue but exhibition pieces only. WTF. So what's the effing point of having a store.
Better yet, keep the airport boutiques(Rolex) and actually sell the pieces that are there!!
Totally agree with AP boutiques being terrible at customer’s service, if you don’t make them believe you are a millionaire, and you will buy a watch, they make you feel you are in the wrong place, please leave! Same experience with blancpain.
An 'Ed Hardy' convention. That got a huge LOL!!!!!!!!!!!!! Well done Fed! Spot on about those AD's terrible!!!!
Agree with everything!
I would add to GS, put some effort into your bracelets and make a micro adjust clasp! Best dials and finishing but bracelets miles behind even micro brands!
Totally agree, gorgeous dials but the bracelets “No Bueno” totally made me not buy…
5:13. "I haven't felt that much douchebaggery. . .since the Ed Hardy Convention." Oh dammm. This is one of the best lines I've heard in a while. SLAM!
All these watch brands don't have a proper standard procedure for handling potential customers? It depends as well on the country . For example, in Melbourne, a college of mine purchased an Omega Seamaster (I accompanied him because it was a biz trip )and was greeted very friendly even though his attire was kind of sloppy. Once they realized he was buying the Seamaster a bottle of French champagne arrived and they gave us all the time to empty it. The staff was very professional and courteous and did not mind small talk
Grand Seiko with tapered bracelet, micro adjust, and thinner cases and I'd never look at Rolex again.
Another great comment. Spot on about Rolex. Currently own one that I bought in 1990 for my graduation. Would love a Pepsi GMT but the head games, lack of availability and ridiculously insane prices have turned me off. Now loving Breitling. Bought 4
If there s an Omega ltd for the dog’s BD, I’m a buyer for sure!! The AP boutiques where I have been have exhibited kindness and sensitivity and where the customer is always right!! OK, enough sarcasm. Agree with everything you have said.
Some great commentary, Fed! I'm not in the market for any of these watches and have no skin in the game, but one encounter with a prick salesman in a Rolex boutique, as I've heard about so many times in the forums, and I'd be headed anywhere but Rolex again. That said, I doubt they'll change. Like any company in a bubble, they want to believe that it will never end if they keep doing what they're been doing, ignoring the fact that all markets change sooner or later and how you've been treating your customers is a major factor in retaining said customers when that happens.
Rolex boutique are shocking in the UK (Goldsmith’s in Leicester). I understand I can not walk in buy one, but I saw green bezel sub and I simply asked to try it on, I was told I needed to make an appointment to try on a watch that I needed put my name down on a wait list.
The Goldsmith (Liverpool St, London) and Watches of Switzerland (Birmingham) absolutely different experience really helpful.
But in all stores you need the confidence just to walk through the door. Security etc can be off putting but understandable.
lmfao imagine making an appointment to try on a display only item they have in the shop. These guys need to remember they're selling watches not Hyper Cars.
Really interesting video! I would love to see a serie of these videos with more brands! - keep up the good work, much love from Denmark
I own 3 Rolexes and purchased them at retail in the past 3-4 years, I am more than happy to purchase more but the run around I got has sworn me off the brand. I am not going to go in to an AD and made to look like a fool because I want to spend $10k-$25k on a watch!
Grand Seiko already did a new Chronograph caliber and presented it last W&W.
Very timely advice Feddo - love the critiquing.
Went to an AP boutique, got the “attitude” as described. Walked out and decided to sell my Jules, which I actually loved. Federico, you were spot on regarding the other brands as well for the most part. Why most part? I think Grand Seiko was doing great. But I think they have stalled due to over saturation. What once was a unique, differentiated, well executed brand I now perceive to have run out of new ideas. Great beautiful dials of course, fantastic movements, delightful finishing; however, from my perspective, they need to start thinking out of the box to remain fresh and innovative.
LOL... totally agree on the Rolex "we don't sell watches"-watch-dealers at airports. Seems like the epitomy of "pointlessness", but then again: It does highlight the silliness of the whole current Rolex-situation quite nicely. I mean: It would be weird enough to walk into, say, a Swatch-dealer or a Ralph Lauren-boutique on a high street and being told nothing on display was for sale. But the same situation would be even weirder at an airport where most potential customers never will be regulars.
Also: I suspect you're right WRT Rolex feeling rather comfortable with the current market-situation - I mean: What company wouldn't feel comfortable when there's a ton of over-demand for their products and folks will pay insane premiums for them on the grey market? That, and the fact that they still keep jacking up their prices every chance they get, leads me to believe there won't be much of a change to this whole thing anytime soon.
Isn't the Tentagraph housing the newer Chronograph movement for GS?
I actually like the oddball Chrono's they do since they look like nothing else, they are wayyyy too big though.
Right on all counts! Totally agree. Standing still is going to be falling behind.
"your not making faberge eggs." LOL. you mention optics and i think that's probably the purpose of the airport boutiques. look at the rolexes. want a rolex. find out you can't have a rolex.
A fun concept for a video Fed. Looking forward to seeing your custom piece.
Great video but please do another one featuring Hublot, Tudor, Tag heur, a German brand and my current favourite Zenith.
Talking straight facts about omega been saying that for years about the countless limited editions it hurts the brand big time
Federico’s remarks about the AP boutique could not be more accurate. NYC boutique must be the D-bag headquarters of the universe.
Good shirt Fed! And I agree that Rolex is making people look around at other brands.
I have to agree the Rolex AD experience isn't great. It's not a premium experience to "possibly " get on a list which "might" be shorter if you were to buy some other jewellery from the store.
Thanks for the straight talk! I appreciate you!
What a great episode! Agree with everything you said!
Love the idea of a perpetual calendar AT!
AP Ads : " You are NOT worthy.. Peasant! " 😂
Very good video! .. but no tips for Breitling??
GS already developped new chrono. With 70hr power reserve
Great content/video, Federico. Well, except for the Omega comment regarding LE. I F-ing love LE Speedmaster Pro Moonwaches!!!
Would love to see more opinions on some other brands. These were very insightful. Maybe UN, BlancPain, Jaquet Droz etc
Fed you overlooked Grand Seiko's Tentagraph.
No other watch channel like Fede's. We love you lots out here, man, keep on keeping on.
Well said for the Rolex airport boutiques - display only, WTF???? Sell the damn things!
Great content
Omega perpetual calendar, that’s something I’d love to see.
Very good video Federico. You really show class, and show you have a grasp of the market.
Rolex comments 100% correct ... Travelling through Schiphol for instance is unprofessional at best (and comedic at worst).
Why not a fan of the Skydweller??? It’s a great watch and most complicated of the Rolex line. I own a few “nice” watches and have an appreciation for many brands. Spread the love! There are positives in every watch brand. Just my thoughts✌️
I have figured out what my Retirement Job is going to be, A Rolex Sales Associate , the best job in the world. You only need to learn a single line as part of the training, "Sorry, No stock!! everything on display is for exhibition"!! Collect my monthly pay check for offering my lip service!!
I agree with most everything you said but Omega did stop making limited edition watches a couple years ago. They have some limited production pieces such as the ck859, bond seamasters, snoopy and 321 speedmasters but they haven’t been actually limited to a number for a while now.
Douchebaggery 🤣🤣 love that word btw
"We dont care if your watchmakers dog has a birthday"🤣🤣🤣🤣🤣🤣
As for the brands I know and own (AP, Rolex, Omega), your comments are absolutely spot on. Really sharp, you nailed it.
Brilliant, constructive feedback
Rolex airport boutiques are there to sell their watches to A listers as they're passing thru. Unfortunately, the boutiques aren't really meant for plebs like us, except for marketing purposes to maintain the luxury image for their brand.
Great video 🤙🏽
Right on Fed.
I can't begin to tell you how many friends I've met over the years that'll try to get Rolexes, and instantly HATE the brand after the hunt.. I just don't find them aesthetically pleasing..
great vid!
I just bought a Timex Expedition and I'm happy.
Spot-on
Agreed.
Yes, to that brands like Rolex amd Omega needs to offer more complications. I mean, as for Rolex, one of the biggest and most famous watch brands, it's kinda wierd that they could basically make their entire catalogue with about half a dozen types of movements. I guess one can say it's a sign that Rolex only sells what they're really, really good at making. Whilst brands like Patek almost has a different movement for each of their references.
Good advice. 👍
" Ed Hardy convention" hahahahahah
Very nice video
You forgot one my friend, "stop puting AR coating on the outside of the crystals" It makes the timepiece look plasticy and blurry specially after few months of wearing and wiping the crystal, not to mention scratches, it's a wrist watch not reading glasses!
Altough I must commend Grand Seiko and Rolex for observing it.
Loved the video
The way you say "hublot" sounded more like "who blow" when talking to AP. Made me laugh.
This made my morning when I needed it. Love your hilarious style, Fed!
"Omega watchmaker's dog's birthday special edition" - Essential in any collection I'm sure.
"More douchebags than at an Ed Hardy convention...." That's a LOT of douchebags!
Any advice for Lange.
Love the Grand Seiko dials and stylings but for the life of me, I just don't get the power reserve indicator and how it makes a watch look better. I think it's a silly complication but that is just my opinion and i get that.
I love the new trend of power reserve indicators appearing in the open caseback. You get the ability to check it or stare at it along with the movement, but without cluttering the dial.
Where do you get your straps, Fed? Thanks!
Omega, JLC, Rolex, now Breitling need to stop with the annual price increases, I mean omega had two price increases in one year that's greed while other popular watch brands had zero, I wanted to add a JLC but the Polaris jumped up in price by 35% in two years again greed.
Hearing Fed’s enthusiastic use of “douchy” is always a treat. It kills me. Spot on commentary.
Hate to say it but AP really has turned into a one trick pony. AP Royal Oak and that's it. No average joe/dane is going to buy one of those Marvel RO lol. I mean that is just invicta trash. That's it. Sad to see such a Holy Trinity go downhill that fast.
Grand Seiko and Omega should have a micro adjustment clasp on any bracelet.
Great episode. Federico telling it like it is 😊
Totally agree about JLC and the crazy price increase. I was about to add one to my collection. But a 40% price increase? Hard pass now. Looking at Cartier instead. Cheers
Yes perpetual calendar.
Fed, you forget about the GS Tentagraph?
Longines perpetual calendar and, it's Moon phase for around 5K is enough to get me on the waiting list.