Never Seen Anything Like This

Post Reply
User avatar
TemerityB
ASSHAT
Posts: 16876
Joined: June 12th 2010, 10:00pm
Facebook ID: 0
Location: New York City
Contact:

Never Seen Anything Like This

Post by TemerityB » March 8th 2020, 2:39pm

I'm on the cusp of utterly completing my watch collection for life. I recently decided to make one last long-coveted watch purchase, and a new one instead of going the pre-owned route, going whole hog - a retail authorized dealer purchase, full warranty, not even looking for the slightest discount; just getting a watch I've always wanted. There's a short list of them, and I've decided to investiage a second Rolex, and a new one this time. I picked out the model I've wanted for a while, so I decided to go into town and show the missus the watch I liked.

The only problem? New Rolex watches are near impossible to find right now. Seriously.

This is the New York City area, and let me tell you - I've never seen anything like what's going on right now in all my years of reading about and buying watches. I state this without reservation - I talked to my favorite watch seller today, and also stopped by London Jewelers in Long Island, and it's come to this: If you want a new Rolex? Put your name on a list and wait - not for the highest end stuff, the newest Submariners, the Daytonas, Yacht Masters, and the real collector stuff, either. Virtually everything in stainless steel is complete sold out in this area, all of it; the only stuff on the shelves are gold-cased models and women's sized watches. There are totally empty display cases at authorized dealers. The demand for Rolex, at least in these parts, is far exceeding the supplies that even authorized dealers can obtain in time for buyers ... and all this in a year when Rolex announced price increases.

One of the guys I talked to noted to me that it's totally a value proposition - yeah, Rolex isn't cheap, not at all, but the retained value of the watches actually makes them unbeatable buys, particularly in this economy. I'm in the market for a "lowly" Oyster Perpetual, and the gent explained to me that the five grand I'd drop on a new one, if I want to sell the watch five years from now and keep it pristine, will actually net me about $500 to $1,000 over what I paid for it by the time I'd decide to sell it. That, combined with good economies in the luxury segment (I don't wanna hear how the watch industry is "hurting" - it's bullshit), and sales on Rolex are through the roof. As it stands now, I'm gonna have to wait to buy the watch I want, if I'm lucky enough to find one of them at all.

But don't let my two cents sway you; from a few days ago on the WatchPro website:

Rolex accounts for over half of sales at Watches of Switzerland
by ROB CORDER on MARCH 4, 2020

A presentation by The Watches of Switzerland Group’s chief executive Brian Duffy today revealed that 53% of group sales this year are from Rolex. From annual sales of £894 million (around $1.16 billion), the world’s biggest luxury watch brand brings in $616 million in the UK and United States, the presentation suggests.

Patek Philippe and Audemars Piguet add up to just 9% of sales.

In its latest quarterly financial report, group sales rose by 7% in the UK and 32.3% in the United States in the 13 weeks to January 26, adding up to worldwide revenue of £258 million for the Christmas and New Year trading quarter, up 13.4% at constant currency.

Like-for-like, same-store growth was 9% in the United States and over 32% in total; evidence that new stores are adding significantly to American sales.

The UK accounts for 71% of sales, the United States 29% for the group, which went public on the London Stock Exchange in May last year.

Rolex already plays such a dominant role for the group, which now makes less than 10% of sales from jewelry, but it would be selling even more if the brand could increase its supply, Mr Duffy says.

However, despite demand for Rolex running ahead of supply, the company says in financial filings that it has a stated ambition to widen its base of successful watch brands.


https://usa.watchpro.com/rolex-accounts ... and-group/
WatchGeeks will go down in watch forum history as the worst watch related site that existed. Trolls, threats, bannings, and owners and sponsors talking out of their collective asses to fleece people out of hard earned money. - Koimaster
User avatar
bbattle
Senior Member & WIS
Posts: 1005
Joined: July 11th 2019, 2:51pm
Facebook ID: 0
Contact:

Re: Never Seen Anything Like This

Post by bbattle » March 8th 2020, 3:25pm

So Rolex can't increase its production, or has wisely decided not to?

Does Rolex think people will opt for Tudors instead of the competitors' offerings?

I stood about 5 feet from my nephews and their Rolexes and I could not tell the difference between them and countless dive watches sold everywhere for less than a grand. (one of the nephews forgot to lock the door of the car when they were celebrating Mardi Gras in Mobile, AL and his dad's Rolex got stolen)

I reckon the preppers are buying up these Rolexes to use for bartering once Covid-19 has destroyed society. They've already bought up all the ammo and beef jerky in town.
User avatar
gerdson
Master of Time
Posts: 2618
Joined: January 7th 2013, 11:00pm
Facebook ID: 0
Location: Just north of Northern Krautland
Contact:

Re: Never Seen Anything Like This

Post by gerdson » March 9th 2020, 5:30am

So - just asking - when You are done with completing the watch collection of Your life. What happens?
I have never seen any matter full purpose in achieving or completing something. The purpose as well as the fun solely lies in getting there, not in being there. It does not even really satisfy me to see something done - I mean for a brief period of course, but then I lose interest and need to do the next thing. So this is a serious question. :mrgreen:
Ardnut since 1989

In twenty years or so, the German language will be one, massively long compound word.
-- conjurer
User avatar
TemerityB
ASSHAT
Posts: 16876
Joined: June 12th 2010, 10:00pm
Facebook ID: 0
Location: New York City
Contact:

Re: Never Seen Anything Like This

Post by TemerityB » March 9th 2020, 6:29am

gerdson wrote:
March 9th 2020, 5:30am
So - just asking - when You are done with completing the watch collection of Your life. What happens?
I have never seen any matter full purpose in achieving or completing something. The purpose as well as the fun solely lies in getting there, not in being there. It does not even really satisfy me to see something done - I mean for a brief period of course, but then I lose interest and need to do the next thing. So this is a serious question. :mrgreen:
Good question!

At this point in my life, my watch collection just about hits all the check marks I could have ever wanted - good Swiss brands, divers, dress watches, mid-range stuff, beaters. Since I got a bit more serious about watches about 15 years or so ago, my tastes have become a tiny bit more refined - I find I only have eyes for stuff that's of a certain quality, which means, of course, far more expensive watches now than when I started in the hobby. It's just that I've been thinking about it, and I already own all the styles and brands of watches I ever coveted - I have enough. One more good one and I'm out. I'm not rich.

But, to answer your question - what happens next? Last year, I nearly switched careers to take a job in the actual watch industry, but at the last moment an offer was pulled due to a change in ownership of the company I had applied to. Even getting that far meant a lot to me - I'm different than a lot of watch fans in that I don't have to own every watch I like, and I always can admire pie-in-the-sky stuff that I could never afford to own. I go to about four watch-related fairs and shows every year (living in NYC has its advantages), and I talk to watch people, learn about movements, and just ooh and ahh over new models and nice watches. I guess I'm sort of like a sports car enthusiast - I don't have to own a $40,000 watch, but that doesn't mean I can't admire the craftsmanship. I think the nice thing about the watch industry is that the movements and innovations they come up with eventually trickle down to more affordable watches; look at what's going on with, say, Tissot and Baume & Mercier now - just three years ago, the movements in those watches were considered pretty cutting edge, but now you can buy them in some pretty sharp pieces for $1,000 or less.

Again, I live in New York City; if there's a better watch city, it's gotta be in Switzerland. We have stores, brand boutiques, fairs, and more choices than you can imagine. When I'm in Manhattan or Long Island, if I'm in a mall or business district, I always browse the watch stores even if I'm in the area for another purpose. I have never not enjoyed myself just milling around and learning and talking to people about watches. The conclusion of my watch buying won't be an ending - it will just be the beginning. I have to maintain my collection, and that will assuredly keep me busy. And I'll keep observing, learning, and following everything from the new models every year to the ridiculous home shopping follies. And - usually, when I give a gift, it's a watch. I'll have stuff to shop for.

It's a hobby.
WatchGeeks will go down in watch forum history as the worst watch related site that existed. Trolls, threats, bannings, and owners and sponsors talking out of their collective asses to fleece people out of hard earned money. - Koimaster
User avatar
foghorn
Founding Member & Master of Time
Posts: 20237
Joined: December 18th 2009, 11:00pm
Contact:

Re: Never Seen Anything Like This

Post by foghorn » March 9th 2020, 6:36am

gerdson wrote:
March 9th 2020, 5:30am
So - just asking - when You are done with completing the watch collection of Your life. What happens?
I have never seen any matter full purpose in achieving or completing something. The purpose as well as the fun solely lies in getting there, not in being there. It does not even really satisfy me to see something done - I mean for a brief period of course, but then I lose interest and need to do the next thing. So this is a serious question. :mrgreen:


I believe that Temerity might be laying plans to capture the WWE 24/7 championship and bringing it home to Queens.
Just a gut feeling.
Image
User avatar
TemerityB
ASSHAT
Posts: 16876
Joined: June 12th 2010, 10:00pm
Facebook ID: 0
Location: New York City
Contact:

Re: Never Seen Anything Like This

Post by TemerityB » March 9th 2020, 6:46am

foghorn wrote:
March 9th 2020, 6:36am
gerdson wrote:
March 9th 2020, 5:30am
So - just asking - when You are done with completing the watch collection of Your life. What happens?
I have never seen any matter full purpose in achieving or completing something. The purpose as well as the fun solely lies in getting there, not in being there. It does not even really satisfy me to see something done - I mean for a brief period of course, but then I lose interest and need to do the next thing. So this is a serious question. :mrgreen:


I believe that Temerity might be laying plans to capture the WWE 24/7 championship and bringing it home to Queens.
Just a gut feeling.
Only if I can beat Mandy Rose for it.
WatchGeeks will go down in watch forum history as the worst watch related site that existed. Trolls, threats, bannings, and owners and sponsors talking out of their collective asses to fleece people out of hard earned money. - Koimaster
User avatar
mrneddles
Watchlord WIS
Posts: 3468
Joined: July 13th 2010, 10:00pm
Facebook ID: 0
Location: S.C.
Contact:

Re: Never Seen Anything Like This

Post by mrneddles » March 9th 2020, 7:44am

I am in the market for a gold Daytona with the ceramic bezel and rubber strap. I am only seeing them on the secondary/grey market for $3000 over MSRP.

Any of these lingering in the cases in Manhattan? I was thinking I would have to book a trip to NYC just to shop for it, but if the situation is that grim why bother?
Image
User avatar
TemerityB
ASSHAT
Posts: 16876
Joined: June 12th 2010, 10:00pm
Facebook ID: 0
Location: New York City
Contact:

Re: Never Seen Anything Like This

Post by TemerityB » March 9th 2020, 8:30am

mrneddles wrote:
March 9th 2020, 7:44am
I am in the market for a gold Daytona with the ceramic bezel and rubber strap. I am only seeing them on the secondary/grey market for $3000 over MSRP.

Any of these lingering in the cases in Manhattan? I was thinking I would have to book a trip to NYC just to shop for it, but if the situation is that grim why bother?
Neddles,

To say there's no product is an understatement; you'd really have to see it to believe it. I shop around watch stores all the time, and there are literally bare walls and totally empty display cases. We walked in yesterday to full-blown AD that had nine different watches ... and that was all they had. Anything in SS is scarce - anything. The rest of the luxury brands seemed stocked with product - but I don't care if you go to Tourneau, other authorized dealers, wherever - there's just no product around except for scant women's models and gold-cased garish stuff. I've been forced to do the waiting list thing for a freakin' OP - to be honest, I might throw up my hands and go in another direction. There is still a lot of pre-owned about, but I won't do the midtown tango - despite what former NYC members might have claimed, that area is a great way to get a Frankenwatch or worse. If I'm investing, I want the warranty.
WatchGeeks will go down in watch forum history as the worst watch related site that existed. Trolls, threats, bannings, and owners and sponsors talking out of their collective asses to fleece people out of hard earned money. - Koimaster
Post Reply

Return to “Rolex & Tudor Forum”

Who is online

Users browsing this forum: No registered users and 1 guest