As an economist, let me clarify that diff between the articles. One is reporting past numbers. The other is forward looking. Meaning that Wall Street analyst are not dumb, and fully expect the down turn to continue. And share prices are reflecting the present value of future income. There is no contradiction.
I'm not sure the articles contradict each other. You can report decent, even impressive growth, but if the analysts expected even higher than that, you'll get dinged for underperforming. So ya, CEO said, "We kicked ass." Bloomberg reports, "You guys missed the estimate" and the share price plummets. Both can be true.
"Bumblefuck Indiana?" Come on man, that's not necessary. Low blow. I'm gonna put on my winter coat, head outside, look at the corn fields and tell the cows exactly what you think of Indiana....
Roman claims that the CPO cert is essentially worthless, but what about the arguments in favor of it? 1) Direct, bulletproof authentication beyond the usual “box and papers” and 2) the purchase(s) would help build a spend history with the AD to get access to new retail pieces. I’m not advocating for CPO, just asking about those 2 particular points. The certificate may not add significant (or any) value when selling the piece down the road, but aren’t either one of those factors worth the premium when buying?
The biggest advantage of it is a piece of mind. Helping build spend history with the AD at what cost? How much over-market price are you willing to pay to build that history? As for authenticity, you can get that security through any TRUSTED dealer including an AD that sells pre-owned watches that have not gone through the certification process.
@@greymarketpod when you guys buy a from a trusted dealer what kind of authenticity checks you perform? Is it a b2b thing where it's ALL based on trust until something goes wrong?
@@greymarketpod Fair points and I appreciate your voice on the matter. You’re correct: there is definitely a dividing line between a reasonable premium to build a client relationship and blatant overpricing. It’ll be interesting to see where the CPO premiums land when they become more broadly available. For the record, LB is undoubtedly a trusted dealer. Thanks for taking the time on this one.
I personally think the opinions shared about Rolex CPO are out of a fear of what it will do to grey dealers. Rolex and thus their ADs are a behemoth that 99 percent of grey dealers will not be able to compete with once the program is going full speed. They will absorb excess watches and this will drive up prices to where they want them, not the other way around, iMO. This is why AP is now getting in the game, they see what's coming and it won't be good for the grey market unless they have the funds to play with the big boys. Well see whose right in short order though
Yep, I used to work at an AD and everything Roman said was spot on. Sky-high margins, being forced to buy slow-selling models (then offloading them to the grey market) to earn allocation for the good stuff, and being squeezed by both the manufacturers taking back points-of-sales and trying to keep up with e-commerce prices.
Roman, most of the buyers going to the cop route are not just going that way because of a warranty. Most grey dealers and even tourneau for years offered a warranty. It is much more than that. Those buyers are assured with Rolex cop certification that that watch is genuine and not Frankenwatch. None of this swapped dial business which you can’t tell wity just the card but does show on original tag if present. I would not but people going that cop route are looking for that guarantee of an genuine product .
The mobile billboards in London have the acronym "WATCH" Wear it with care. Avoid unnecessary risks. Travel with a friend. Cover it up. Hand over if threatened.
This billboard belongs to the "Watch Collecting" company, they buy and sell watches! It's not what it seems, it's not a safety message at all, it's kinda the opposite! They want to buy people's watches for cheap so they're tryin to scare people, and also if you got mugged, you can buy from them. That's dirty.
Insuring one’s timepieces is perhaps the best thing to do. That’s what I do. That doesn’t mean I want to be robbed or that I wear my watches everywhere but it definitely gives me a much welcomed piece of mind.
People are not worried about parking their expensive cars in Mayfair because you can’t snatch a car from someone and be expected to get away with it. A watch get snatched and sold in the crime underworld within the hour.
@GREY MARKET Podcast - another great episode! Can we get an episode where Roman can comment on all this recent talk about him vouching for a dealer (the wizard) that was a known “scammer”. I would love to hear his side of things because right now only one side is really talking and they are insinuating a lot of things that don’t seem very fair to Roman and LB.
It's simply the difference between perception and reality. The market valued WOS at a certain level based on previous performance and projected performance(perception) and a mixture of this and other information will dictate the share price. The share price dip is not the market saying we don't think this is a valuable, profitable or successful company it's simply a reflection of the weaker than expected results(reality) from the last quarter causing the market to decide it had previously overvalued the company due to expectations which hadn't been met. I'm no expert by the way but that's the only way it makes sense to me. Love the content on all the channels too.
The people behind the billboard trucks talking about watch crime in London is the online auction house Watch Collecting Ltd. Them saying "leave it at home" is also them saying "you might as well sell it". Clever marketing.
Your correct fake papers is possible- which is why I have never bought a Rolex for anything over msrp and only from an authorized dealer and I get a Rolex five year warranty. Plus I know it is not fake, damaged or stolen. Kind of obvious most of these gray market dealers are a step above the law and do not inspire confidence that are always on the up and up. It takes awhile longer to get offered a watch and you need to send your AD a photo of your collection with your new watch he sold you so he knows you are not flipping the pieces he allocated to you - real collectors actually don’t have a problem getting allocated watches from AD’s. And buy other pieces from your AD- jewelry for your partner in life and other watches like Tudors and you will find you will build a collection over the years at low cost and it always a thrill to get a call from your friend from his Rolex authorized dealership. Going to a gray market dealer and paying double for a watch that is risky in many ways and without a real Rolex factory warranty is just stupid and way too easy and guys that bought all the watches this and other gray market dealers sold them at inflated prices are now sucking hind tit and many did borrow money to buy these gray market watches and if you believe your gray market dealer is going to spend $700 to rebuild your Rolex you bought used from him five years ago I have a bridge in Brooklyn for sale at a reasonable price for you also. Kind of obvious these gray market dealers are a ruthless bunch of characters who prey on unknowing customers and even on each other.
Hey. Just a heads up. Roman’s mic looks like the AT2020. That’s a side address mic and he’s talking into the top of it. If you want to improve the sound rotate so the guest is speaking into the side like the host is doing.
Another important way real estate and watches are different. Real estate is a regulated asset class where financial valuation models apply; watches are not. From a market POV, watches are in the same Collectibles category as art, classic cars, coins, stamps, etc. of course, people spend their money on all those things for the pursuit, the enjoyment, to pass on to their heirs, perhaps the hope they will increase in value along the way. Very few will; most will not. Nobody is clairvoyant, and any market can and does rise and fall. Shakespeare said “…To thine own self be true…”. I am a watch collector, and also own real estate, stocks, bonds and mutual funds. Everything after the first comma is an investment - the watch collection is not.
To be sure media manipulation is a thing, but in this case it seems like there was a story written that highlighted a poor set of numbers for a company, then the same outlet posted a response by that company’s ceo. He would naturally focus on the set of numbers that would seem favorable.
Why isn’t anyone stating the obvious? We are in a recession, global inflation, the prices are still inflated in the secondary market and buyers are turned off by Rolex and not having watches for sale at retail.
Roman continues to be the thought leader regarding the watch market. Regarding the two articles with opposing views on WoS, the AD’s behavior of shunning new customers has to take its toll. After Roman revealed that the ADs had the inventory in the safe, why would any customer want to visit an AD? In short, Luxury Bazaar is my AD, and I doubt the ADs recognize this fact nor what to do about it.
Roman used to represent Russia big time, but just after Russia invaded Ukraine he dropped the whole "We are the Russian mob" attitude! Why?! Now he tries to talk like a kid from philly but we loved the whole Russian Mafia vibe, it was fun to watch, on every topic he used to say: in Russia we do it this way or that way, but not anymore, he even dropped the accent. Gary still has the accent and is not shy to show his roots and that's great. Representing your country doesn't mean you support the government, people understand these things. Keep up the good work, love your podcast ✌🏼✌🏼
Watch crime in London, the GBP exhange rate vs other currencies. high inflation, and Brexit (lack of sales to EU customers). If you look at luxury brands company like Richmont Group is up. So what does that mean?
The so called experts on you tube that are more interested in talking trash should listen and learn from this podcast. It was not only informative, but very eye opening. It's not just a buy low, sell high business, it's more intricate than that. Roman really knows this business, like I said earlier, the people that have watch talk based channels on you tube should pay attention! Thanks Avi. 🙏 🔥
@@greymarketpod I'd love if you had experts on the vintage watch market, there's a lot of interesting folks with rich knowledge. Some are a bit weird but usually in a good way...
@@LaurentiusTriarius you sent the comment to me, not grey market podcast, please check to make sure it's them @grey market podcast. You do however make a good point. ☺
Knowledge is king and Roman has that in spades.. love the informational aspect of these sit downs.. I can't at the moment but when I can my first rolex is going to be purchased through Luxury Bazaar !
Shares plummet on “decent” earnings regularly. P/E ratios mooned to bubble levels during the easy money fed pump. Those days are over for the time being. Those articles don’t contradict whatsoever
Yawn - the market is down. Stop with the BS. Want more proof? Go check prices on MODA and go try and sell you hype piece and see how badly you get lowballed (if the dealer will even buy it).
If you read into their financials it’s the jewellery sales not watches that is affecting their business (goldsmiths and their other businesses under the banner that sell jewellery)
I live in Mayfair. What was said about London is totally untrue. I see people wearing precious metal PPs, and fancy APs every day. In the US you have a massive car culture, where people never walk anywhere. This creates an illusion of safety. The watch market in the UK is destroyed here for the normal reasons. Recession. Hangover from QE. Bitcoin boom hangover. PLEASE RESEARCH BEFORE BULKSHIT. Additional: after watching the next bit about WoS and the grey market. I am now in Mid December 23. It proves that Balmain shirt guy doesn't have a clue. Everything he said has absolutely not happened.
Very good point crime in London is terrible and there is no point in wearing a nice watch if you can't relax when wearing it.. Also if you have an iPhone and you visit London, it is likely you will have the iPhone stolen.
Lovely. Just got on list for my second Rolex from AD. List for Skydweller and Starbucks. If they come.i buy. If not, ill wait. Buy what you like not whats profitable.
I just loved the part when he said Northern Ireland was safer than London. As someone who is old enough to remember the troubles I never thought I hear someone saying that. Peace and love and say no to hate!
I spend lots of time in London and see people wearing all sorts of high end watches with no concern. LA struggles far more with the watch thefts. I have been in every rolex dealer I pass and they never have stock so the main reason sales are down is supply from the manufacturer. Not panic over having them stolen.
Roman is wrong about one thing ...not everyone buys from him, every dealer is not as stand up as LB is. So for those that don't know and don't want to get ripped off with fake or a shitty watch the certfied program is a great option for them,
the article was just reporting. the stock slid because the analysts needed to revise projections and not expect what happened in 2021 to be an always thing.
Add to that Watches of Switzerland don’t ever have Rolex watches for sale just display watches. Looking at watches in these shops they seem very expensive for what you get.
Love these real talk videos. I only take issue with Roman’s view at 14:37. CPO aside- Why would I buy a Bluesy Sub at $18950 via LB when I can get it split new from an AD for retail? If he can save me “$5k/30%”, obviously I’d buy from him. But whilst he’s still thousands over retail, the whole white gloves/suit argument doesn’t stack up.
In the last few months I sold my collection. Rocking an Apple Watch ultra now - titanium, always on display, 100m WR, and a 3 day battery life (charges while I shower, sleep tracking, EKG, etc). It’s surprisingly perfect. Apple Watches are the default office watch nowadays, and they finally have a model that Watch guys (and girls) can respect. Not surprised at the price tank at all.
You can break all the records you want but if you miss your estimates, you still failed. Hence, you see a drop. Pretty standard. Happens all the time. The one thing I agree with Roman here is, he is not in the stock business. If you want a watch, see Roman all day long, if you want financial advice, see a financial advisor.
Just consider the HUGE population of London & watch crime incidents relative to that. I live just outside the city & visit regularly wearing my watches without fear. Would I actively show my wrist off attracting unwanted attention? No. But I’d wear a watch under a shirt or coat no problem. Remember, 99% of the general public will likely not even notice you’re even wearing a watch.
The attempt at market manipulation by these media houses is so frustrating. It is so refreshing to hear an informed person like Roman, lay it out. The information is all there, and often taken completely out of context. Roman just put the entire market in perspective with hard facts and logical deduction. This interview was so informative, keep up the great work Avi, you are settling into the interviewing chair well.
but...but....but OpusNTime says the watch market is dead and floating face down in a backyard pool!! So he didn't know what he was talking about, after all?
I'd be curious to see what are the watch grab & snatch numbers in Canada but seems like it's happening a bit more often, the red hot market we had probably encouraged this lowly activity. Still if I was into these expensive trendy watches I'd be more worried about the taxman. It's Canada after all.
These negative recommendations based on unrealistic expectations drive all our markets worldwide. Many companies miss earnings by a penny and then layoff workers to meet what analysts think. It has devastating ripple effects across the world. You can thank Buffet for this as he preaches unsustainable growth. You can't grow exponentially forever, but you can operate profitably and maintain jobs for a very long time as long as your expectations are realistic.
Interest in the watch market is falling …….lot of people that were interested in a Rolex and could t get one have moved on…it’s fatigue …people are over it. Grey dealers will suffer
This how u know they know nothing about finance. It’s the CEO’s job to ALWAYS put a positive spin on everything. However at the end of day price is truth. And the stock is tanking for a reason… because it predicts the watch market will as well. And for Roman to say a multi billion dollar corporation doesn’t know the day to day price movement of the very product they sell is is asinine. There’s a reason watches of Swiss is a multi billion dollar company and Roman just pretends to be one. The watch market is going down, it’s not rocket science.
i think a big thing for the market is that flippers left the building.(no quik flip anymore, they blew the market) and the story in london makes people very careful to buy secondhand. So the good sellers will stay the bad will be gone, you have a good name so it will be just a price correction for you. ..or the apocolipse goes on... still a interesting and good show!👍👍
In many states thanks to the Supreme Court including my city of New York obtaining a CCW license to carry a gun is now much easier. Looking forward to some stories of these slim watch thieves being blown away by a victim that bites back with a 9mm- it’s time for honest people to have the right to defend themselves and their property and help remove some of these criminals permanently from our streets. If you like being a victim and having your life and your property ripped from you by vermin keep voting Democrat . Every American that assumes the responsibility of carrying a concealed weapon is by default deterring criminals preying on you or your family members. Criminals will always carry weapons - these stupid laws restricting CCW only makes good citizens victims of the worst without our society.
Watches of Switzerland will always have a special place in my heart, My best friend was the manger of a store in The Uk up until about 3 years ago. Great times and had a good run of getting watches from him and making a few quid. 😄
I think Roman is not taking into account the experience in buying a luxury good. Just like going to a Bentley dealer a Rolex dealer has a certain atmosphere and experience. the gray market 8has gone from being a place to get a discount watch to one where dealers are simply tacking on a fee for zero reason. You should at the very least consider what you are giving your clients? Extended warranty? Free polish? trade ups? Problem is gray market dealers are now charging MORE than MSRP and not offering anything for it. When teh hype disappears so will the sales. If someone can afford the watch they could care less about saving a couple grand if they are available at both AD and Gray. I think you have a great business but its time to start giving for what your charging its about to turn. You also need to fix your web site it lags to the point its aggravating.
... on the top what Roman said during the boom market customer service was going towards zero. Ok, do not have a rolex that’s fine but if you have a problem to call me back once I was at your shop to buy 500$ strap for my JLC that’s bad. You lost me forever #watchswiss aka Watches of Switzerland Sydney based. Bye, bye. Lucky JLC Botique Sydney owned by Richemount Group going very nice with customer service.
I enjoyed this podcast. I have always gotten the impression that Roman is very knowledgeable. The problem is in many of his videos he comes across as a real a-hole. In this video not so much. Arrogance is unattractive and undermines trust with a customer.
Roman you are my hero. With you son has a bunch of you in him. I'm afraid the shoe market is going in a bad way. Keep him in control Daddy. NEAL APOLLO BEACH FLORIDA
No offense, IDKY all these grey market idiots are so scared of the watch prices dropping. You need to hedge that bet. Hope it falls. If I was Roman, I would get with as many dealers as possible. Attempt to get these prices to fall 50% or more hopefully. Then let the pay days begin. If the prices fell, these people would gain so many new customers it would be the best thing for this market.
As an economist, let me clarify that diff between the articles. One is reporting past numbers. The other is forward looking. Meaning that Wall Street analyst are not dumb, and fully expect the down turn to continue. And share prices are reflecting the present value of future income. There is no contradiction.
Thank you for writing that. I was about to have to write the same paragraph lol. You said it perfectly
I'm not sure the articles contradict each other. You can report decent, even impressive growth, but if the analysts expected even higher than that, you'll get dinged for underperforming. So ya, CEO said, "We kicked ass." Bloomberg reports, "You guys missed the estimate" and the share price plummets. Both can be true.
"Bumblefuck Indiana?" Come on man, that's not necessary. Low blow. I'm gonna put on my winter coat, head outside, look at the corn fields and tell the cows exactly what you think of Indiana....
😂
that was a shot...
The correct location is Bumblefuck, Idaho
Roman claims that the CPO cert is essentially worthless, but what about the arguments in favor of it? 1) Direct, bulletproof authentication beyond the usual “box and papers” and 2) the purchase(s) would help build a spend history with the AD to get access to new retail pieces.
I’m not advocating for CPO, just asking about those 2 particular points. The certificate may not add significant (or any) value when selling the piece down the road, but aren’t either one of those factors worth the premium when buying?
The biggest advantage of it is a piece of mind. Helping build spend history with the AD at what cost? How much over-market price are you willing to pay to build that history? As for authenticity, you can get that security through any TRUSTED dealer including an AD that sells pre-owned watches that have not gone through the certification process.
@@greymarketpod when you guys buy a from a trusted dealer what kind of authenticity checks you perform? Is it a b2b thing where it's ALL based on trust until something goes wrong?
@@greymarketpod Fair points and I appreciate your voice on the matter. You’re correct: there is definitely a dividing line between a reasonable premium to build a client relationship and blatant overpricing. It’ll be interesting to see where the CPO premiums land when they become more broadly available. For the record, LB is undoubtedly a trusted dealer. Thanks for taking the time on this one.
I personally think the opinions shared about Rolex CPO are out of a fear of what it will do to grey dealers. Rolex and thus their ADs are a behemoth that 99 percent of grey dealers will not be able to compete with once the program is going full speed. They will absorb excess watches and this will drive up prices to where they want them, not the other way around, iMO. This is why AP is now getting in the game, they see what's coming and it won't be good for the grey market unless they have the funds to play with the big boys. Well see whose right in short order though
I agree, frank
Yep, I used to work at an AD and everything Roman said was spot on. Sky-high margins, being forced to buy slow-selling models (then offloading them to the grey market) to earn allocation for the good stuff, and being squeezed by both the manufacturers taking back points-of-sales and trying to keep up with e-commerce prices.
dont work for any AD now?
Celine, with Rolex supposedly looking over the ADs Rolex sales, how does an AD sell a slow selling model without getting caught or raising a red flag?
Roman, most of the buyers going to the cop route are not just going that way because of a warranty. Most grey dealers and even tourneau for years offered a warranty. It is much more than that. Those buyers are assured with Rolex cop certification that that watch is genuine and not Frankenwatch. None of this swapped dial business which you can’t tell wity just the card but does show on original tag if present. I would not but people going that cop route are looking for that guarantee of an genuine product .
The mobile billboards in London have the acronym "WATCH" Wear it with care. Avoid unnecessary risks. Travel with a friend. Cover it up. Hand over if threatened.
This billboard belongs to the "Watch Collecting" company, they buy and sell watches! It's not what it seems, it's not a safety message at all, it's kinda the opposite! They want to buy people's watches for cheap so they're tryin to scare people, and also if you got mugged, you can buy from them. That's dirty.
Are they not owned by a 3rd party watch company trying to buy low?
fuk that...thats why smith and wesson are my best friends, they don't travel to london ...nor do I.
@@mell3109 yes. They are owned by a pre-owned dealer. It’s not the police.
Insuring one’s timepieces is perhaps the best thing to do. That’s what I do. That doesn’t mean I want to be robbed or that I wear my watches everywhere but it definitely gives me a much welcomed piece of mind.
People are not worried about parking their expensive cars in Mayfair because you can’t snatch a car from someone and be expected to get away with it. A watch get snatched and sold in the crime underworld within the hour.
@GREY MARKET Podcast - another great episode!
Can we get an episode where Roman can comment on all this recent talk about him vouching for a dealer (the wizard) that was a known “scammer”. I would love to hear his side of things because right now only one side is really talking and they are insinuating a lot of things that don’t seem very fair to Roman and LB.
He came onto archies luxury and gave a good account
It's simply the difference between perception and reality. The market valued WOS at a certain level based on previous performance and projected performance(perception) and a mixture of this and other information will dictate the share price. The share price dip is not the market saying we don't think this is a valuable, profitable or successful company it's simply a reflection of the weaker than expected results(reality) from the last quarter causing the market to decide it had previously overvalued the company due to expectations which hadn't been met. I'm no expert by the way but that's the only way it makes sense to me. Love the content on all the channels too.
The people behind the billboard trucks talking about watch crime in London is the online auction house Watch Collecting Ltd. Them saying "leave it at home" is also them saying "you might as well sell it". Clever marketing.
That being said, unfortunately the crime in London is still real. And I would rather know about it than not.
Great segment !! I like the honesty and the fact you’re telling it like it is. BTW the interviewing skills have leveled up! Good job
I appreciate that!
Your correct fake papers is possible- which is why I have never bought a Rolex for anything over msrp and only from an authorized dealer and I get a Rolex five year warranty. Plus I know it is not fake, damaged or stolen. Kind of obvious most of these gray market dealers are a step above the law and do not inspire confidence that are always on the up and up. It takes awhile longer to get offered a watch and you need to send your AD a photo of your collection with your new watch he sold you so he knows you are not flipping the pieces he allocated to you - real collectors actually don’t have a problem getting allocated watches from AD’s. And buy other pieces from your AD- jewelry for your partner in life and other watches like Tudors and you will find you will build a collection over the years at low cost and it always a thrill to get a call from your friend from his Rolex authorized dealership. Going to a gray market dealer and paying double for a watch that is risky in many ways and without a real Rolex factory warranty is just stupid and way too easy and guys that bought all the watches this and other gray market dealers sold them at inflated prices are now sucking hind tit and many did borrow money to buy these gray market watches and if you believe your gray market dealer is going to spend $700 to rebuild your Rolex you bought used from him five years ago I have a bridge in Brooklyn for sale at a reasonable price for you also. Kind of obvious these gray market dealers are a ruthless bunch of characters who prey on unknowing customers and even on each other.
Hey. Just a heads up. Roman’s mic looks like the AT2020. That’s a side address mic and he’s talking into the top of it. If you want to improve the sound rotate so the guest is speaking into the side like the host is doing.
Thanks for the heads up!
Another important way real estate and watches are different. Real estate is a regulated asset class where financial valuation models apply; watches are not. From a market POV, watches are in the same Collectibles category as art, classic cars, coins, stamps, etc. of course, people spend their money on all those things for the pursuit, the enjoyment, to pass on to their heirs, perhaps the hope they will increase in value along the way. Very few will; most will not. Nobody is clairvoyant, and any market can and does rise and fall. Shakespeare said “…To thine own self be true…”. I am a watch collector, and also own real estate, stocks, bonds and mutual funds. Everything after the first comma is an investment - the watch collection is not.
Awesome comment! Thank you for that.
To be sure media manipulation is a thing, but in this case it seems like there was a story written that highlighted a poor set of numbers for a company, then the same outlet posted a response by that company’s ceo. He would naturally focus on the set of numbers that would seem favorable.
Why isn’t anyone stating the obvious? We are in a recession, global inflation, the prices are still inflated in the secondary market and buyers are turned off by Rolex and not having watches for sale at retail.
Roman continues to be the thought leader regarding the watch market. Regarding the two articles with opposing views on WoS, the AD’s behavior of shunning new customers has to take its toll. After Roman revealed that the ADs had the inventory in the safe, why would any customer want to visit an AD? In short, Luxury Bazaar is my AD, and I doubt the ADs recognize this fact nor what to do about it.
Love this comment!
@@greymarketpod Also kudos to Avi for adapting the podcast into interesting topics.
Roman used to represent Russia big time, but just after Russia invaded Ukraine he dropped the whole "We are the Russian mob" attitude! Why?! Now he tries to talk like a kid from philly but we loved the whole Russian Mafia vibe, it was fun to watch, on every topic he used to say: in Russia we do it this way or that way, but not anymore, he even dropped the accent. Gary still has the accent and is not shy to show his roots and that's great. Representing your country doesn't mean you support the government, people understand these things. Keep up the good work, love your podcast ✌🏼✌🏼
@@razfan google it or watch his old videos cause you're wrong
Watch crime in London, the GBP exhange rate vs other currencies. high inflation, and Brexit (lack of sales to EU customers). If you look at luxury brands company like Richmont Group is up. So what does that mean?
The so called experts on you tube that are more interested in talking trash should listen and learn from this podcast. It was not only informative, but very eye opening. It's not just a buy low, sell high business, it's more intricate than that. Roman really knows this business, like I said earlier, the people that have watch talk based channels on you tube should pay attention! Thanks Avi. 🙏 🔥
Thank you for the great compliments!
@@greymarketpod I'd love if you had experts on the vintage watch market, there's a lot of interesting folks with rich knowledge. Some are a bit weird but usually in a good way...
@@LaurentiusTriarius you sent the comment to me, not grey market podcast, please check to make sure it's them @grey market podcast. You do however make a good point. ☺
I shop with with Bucherer they don’t move pre owned well it’s overpriced like Roman said, & some of these ADs are still holding discontinued watches
Knowledge is king and Roman has that in spades.. love the informational aspect of these sit downs.. I can't at the moment but when I can my first rolex is going to be purchased through Luxury Bazaar !
Hmm
The market is a forward-looking mechanism, while the quarterly reports are somewhat akin to the rearview mirror. Need I say more?
Phenomenal content, thank you for sharing your knowledge and thoughts. I always learn something new. All the best!
That billboard truck was 3 years ago...my AD is very quiet
Some people buy used cars from any used car lot and some people buy used cars only from the dealer certified preowned.. same idea
Shares plummet on “decent” earnings regularly. P/E ratios mooned to bubble levels during the easy money fed pump. Those days are over for the time being. Those articles don’t contradict whatsoever
Yawn - the market is down. Stop with the BS. Want more proof? Go check prices on MODA and go try and sell you hype piece and see how badly you get lowballed (if the dealer will even buy it).
Mass layoffs in tech (170k in the past few months) and finance isn’t helping demand for luxury items. The effects are only starting, imo
If you read into their financials it’s the jewellery sales not watches that is affecting their business (goldsmiths and their other businesses under the banner that sell jewellery)
Correct, however the headline and story doesn't highlight that.
I live in Mayfair. What was said about London is totally untrue. I see people wearing precious metal PPs, and fancy APs every day. In the US you have a massive car culture, where people never walk anywhere. This creates an illusion of safety.
The watch market in the UK is destroyed here for the normal reasons. Recession. Hangover from QE. Bitcoin boom hangover.
PLEASE RESEARCH BEFORE BULKSHIT.
Additional: after watching the next bit about WoS and the grey market. I am now in Mid December 23. It proves that Balmain shirt guy doesn't have a clue. Everything he said has absolutely not happened.
Very good point crime in London is terrible and there is no point in wearing a nice watch if you can't relax when wearing it.. Also if you have an iPhone and you visit London, it is likely you will have the iPhone stolen.
Wow! What a shame.
Yip, i'm down London often for work and have family down there. Apple Watch or something cheap when visiting. Not even worth the risk.
what a fucked up city london has to be. god save...
In Barcelona, have bern told exactly the same 🤦♂️
Inflation is way higher in Britain as a whole. I’d make sense for people to no longer spend on luxury items
Lovely. Just got on list for my second Rolex from AD. List for Skydweller and Starbucks. If they come.i buy. If not, ill wait. Buy what you like not whats profitable.
Can you imagine holding $50 million in product and watching it loose value every day?
I just loved the part when he said Northern Ireland was safer than London. As someone who is old enough to remember the troubles I never thought I hear someone saying that.
Peace and love and say no to hate!
I spend lots of time in London and see people wearing all sorts of high end watches with no concern. LA struggles far more with the watch thefts. I have been in every rolex dealer I pass and they never have stock so the main reason sales are down is supply from the manufacturer. Not panic over having them stolen.
Roman is wrong about one thing ...not everyone buys from him, every dealer is not as stand up as LB is. So for those that don't know and don't want to get ripped off with fake or a shitty watch the certfied program is a great option for them,
Lots of us don’t trust gray market sellers to sell real watches or that the watches are damaged. The papers tell you it isn’t fake!
Faking papers is orders of magnitude easier than faking the watch.
Love this format btw
Awesome to hear that!
the article was just reporting. the stock slid because the analysts needed to revise projections and not expect what happened in 2021 to be an always thing.
Add to that Watches of Switzerland don’t ever have Rolex watches for sale just display watches. Looking at watches in these shops they seem very expensive for what you get.
Once again great podcast. Great insights on the truth of watches. Makes your brand more credible to do business
Thank you!
Wouldn't say Bloomberg is a respected publication. They are invested in driving volatility in the stock market.
Great video, Romain provides great insight to a great part of the watch market
Love the fact that you guys are not afraid to call out the mainstream media!!!!!!
Thank you for another great video.
Love these real talk videos. I only take issue with Roman’s view at 14:37. CPO aside- Why would I buy a Bluesy Sub at $18950 via LB when I can get it split new from an AD for retail? If he can save me “$5k/30%”, obviously I’d buy from him. But whilst he’s still thousands over retail, the whole white gloves/suit argument doesn’t stack up.
In the last few months I sold my collection. Rocking an Apple Watch ultra now - titanium, always on display, 100m WR, and a 3 day battery life (charges while I shower, sleep tracking, EKG, etc). It’s surprisingly perfect. Apple Watches are the default office watch nowadays, and they finally have a model that Watch guys (and girls) can respect. Not surprised at the price tank at all.
You can break all the records you want but if you miss your estimates, you still failed. Hence, you see a drop. Pretty standard. Happens all the time. The one thing I agree with Roman here is, he is not in the stock business. If you want a watch, see Roman all day long, if you want financial advice, see a financial advisor.
I am swiss and I find it disrespectful the dealers do not even learn how to pronounce the brand names of LUXURY products they sell. "Bucherer" hurt...
I take it the group is in superposition of plunging and soaring at the same time.
Strong denim colour blocking from Roman.
Just consider the HUGE population of London & watch crime incidents relative to that. I live just outside the city & visit regularly wearing my watches without fear. Would I actively show my wrist off attracting unwanted attention? No. But I’d wear a watch under a shirt or coat no problem. Remember, 99% of the general public will likely not even notice you’re even wearing a watch.
The attempt at market manipulation by these media houses is so frustrating. It is so refreshing to hear an informed person like Roman, lay it out. The information is all there, and often taken completely out of context. Roman just put the entire market in perspective with hard facts and logical deduction. This interview was so informative, keep up the great work Avi, you are settling into the interviewing chair well.
Wow, great comment! Thank you so much for the compliments and support!
So the message is “nothing to see here”, even as prices continue to crater. WatchCharts index is down 30% in a year and dropping. Drop drop.
What a load of bollox - its more likely that WoS just dont have any stock to sell
Wrong. Their stock price is falling since January last year
Love me some Roman, always cool, down to earth.
your financial advisor is giving you poor advice about real estate. it's still a good time to buy but you have to be very selective.
but...but....but OpusNTime says the watch market is dead and floating face down in a backyard pool!! So he didn't know what he was talking about, after all?
Too busy brushing his hair and drinking too much wine .and worrying about bill Clinton's pants
@@donaldmckinney1333 hahahaha
I'd be curious to see what are the watch grab & snatch numbers in Canada but seems like it's happening a bit more often, the red hot market we had probably encouraged this lowly activity. Still if I was into these expensive trendy watches I'd be more worried about the taxman. It's Canada after all.
There is no data because there is no watch crime in Canada.
Interesting discussion. 👍🏻
Glad you think so!
Always good stuff!
Glad you think so!
I think people want to purchase from an AD of the brand, more so than they want CPO paperwork.
I think buyers want that piece of paper to ensure all genuine parts and a reliable warranty,, Roman is a honest dealer but many are not.
These negative recommendations based on unrealistic expectations drive all our markets worldwide. Many companies miss earnings by a penny and then layoff workers to meet what analysts think. It has devastating ripple effects across the world. You can thank Buffet for this as he preaches unsustainable growth. You can't grow exponentially forever, but you can operate profitably and maintain jobs for a very long time as long as your expectations are realistic.
nice discussion
The EUROPEAN UNION 🇪🇺 imported diversity has a lot of watch aficionados.
Don´t invest in watches, It is becoming very risky.
Interest in the watch market is falling …….lot of people that were interested in a Rolex and could t get one have moved on…it’s fatigue …people are over it. Grey dealers will suffer
This is a great podcast, the content and the time compression are perfect!
Much appreciated!
Most excellent
This how u know they know nothing about finance. It’s the CEO’s job to ALWAYS put a positive spin on everything. However at the end of day price is truth. And the stock is tanking for a reason… because it predicts the watch market will as well. And for Roman to say a multi billion dollar corporation doesn’t know the day to day price movement of the very product they sell is is asinine. There’s a reason watches of Swiss is a multi billion dollar company and Roman just pretends to be one. The watch market is going down, it’s not rocket science.
i think a big thing for the market is that flippers left the building.(no quik flip anymore, they blew the market) and the story in london makes people very careful to buy secondhand. So the good sellers will stay the bad will be gone, you have a good name so it will be just a price correction for you. ..or the apocolipse goes on... still a interesting and good show!👍👍
cosius
@@edrader thx for improving me👍👍
In many states thanks to the Supreme Court including my city of New York obtaining a CCW license to carry a gun is now much easier. Looking forward to some stories of these slim watch thieves being blown away by a victim that bites back with a 9mm- it’s time for honest people to have the right to defend themselves and their property and help remove some of these criminals permanently from our streets. If you like being a victim and having your life and your property ripped from you by vermin keep voting Democrat . Every American that assumes the responsibility of carrying a concealed weapon is by default deterring criminals preying on you or your family members. Criminals will always carry weapons - these stupid laws restricting CCW only makes good citizens victims of the worst without our society.
@@jeffreykilpatrick3592 no politics plz.. r you allowed to throw the first rock?
Watches of Switzerland will always have a special place in my heart, My best friend was the manger of a store in The Uk up until about 3 years ago. Great times and had a good run of getting watches from him and making a few quid. 😄
ADs should stay out of the grey market unless they’re prepared to mark their prices to market.
I think Roman is not taking into account the experience in buying a luxury good. Just like going to a Bentley dealer a Rolex dealer has a certain atmosphere and experience. the gray market 8has gone from being a place to get a discount watch to one where dealers are simply tacking on a fee for zero reason.
You should at the very least consider what you are giving your clients? Extended warranty? Free polish? trade ups? Problem is gray market dealers are now charging MORE than MSRP and not offering anything for it. When teh hype disappears so will the sales. If someone can afford the watch they could care less about saving a couple grand if they are available at both AD and Gray.
I think you have a great business but its time to start giving for what your charging its about to turn. You also need to fix your web site it lags to the point its aggravating.
LB website is the worst piece of crap. It does not match their UA-cam presentations.
... on the top what Roman said during the boom market customer service was going towards zero. Ok, do not have a rolex that’s fine but if you have a problem to call me back once I was at your shop to buy 500$ strap for my JLC that’s bad. You lost me forever #watchswiss aka Watches of Switzerland Sydney based. Bye, bye. Lucky JLC Botique Sydney owned by Richemount Group going very nice with customer service.
Roman know his shit
Yeah Bloomberg is a trusted news source hahahahhahahahahhahahahhahahahhaahahahshhsha
So is CNN, the View and MSNBC
Roman what has Indana done to you
When is luxury bazaar going public
Hopefully soon!
Could listen to Roman all day!
OMEGA
fucking overpriced in the meantime for what it is. heritage or not, it is still a swatch. LOL
The market PRICES are down, trading continues at ANY price….
Northern Ireland is the Uk the same way Donbas is Russia.
What 😂
to many commercials
Grey Market Flippers, will prosper!
some will. some will not. obviously LB knows what they are doing. Many do not .
Couldn’t happen to a nicer bunch of ....ts
I enjoyed this podcast. I have always gotten the impression that Roman is very knowledgeable. The problem is in many of his videos he comes across as a real a-hole. In this video not so much. Arrogance is unattractive and undermines trust with a customer.
Roman you are my hero. With you son has a bunch of you in him. I'm afraid the shoe market is going in a bad way. Keep him in control Daddy. NEAL APOLLO BEACH FLORIDA
No offense, IDKY all these grey market idiots are so scared of the watch prices dropping.
You need to hedge that bet.
Hope it falls.
If I was Roman, I would get with as many dealers as possible. Attempt to get these prices to fall 50% or more hopefully.
Then let the pay days begin.
If the prices fell, these people would gain so many new customers it would be the best thing for this market.
Not when they're in for a Bigger # then what the watch is being sold for
Duh...
The host reminds me of a younger bobo
We can no longer trust Roman Sharf.
Thanks for your super useful feedback.
Lol why would you trust anybody you don't know personally? Don't put your trust into anymore then a handful of close people kid
Bad take Roman. The AD's are tired of seeing all these GreyMarket dealers take over the preowned market so they are coming to take it back.
TLDW, the watch market is dead boys! This is as close as they're going to get to admitting it!
Thanks for the comment. Are you in the industry?
Grey market Shilling. Nothing to see here
The price increases were due to increased demand NOT hype. So stupid.
It directly correlates with fed interest rates 10y T bill is 4% - 5% is coming in 2023. Market will get reality check