Has the Rolex bubble finally burst? Perhaps it has

[LaurasOtherHalf]

h0b0 said:

Was bidding on a Rolex Sea-Dweller Deepsea 116660 2010 and stopped low. It ended up going for 6kGBP. That seems low for a good condition, box and papers private sale. I took a look at other completed sales and there are others that went at similar.

They are the ginger stepchild of the Rolex sports model though, they very rarely make more than £7k and if you ask nicely you can get a brand new one (which is much improved) at list within a matter of weeks.

Different story with the D-Blu dial.

[anonymous-user]

russy01 said:

Do you know if Goldsmiths operate a policy where you can only go on a SS list if you buy another watch off them?

I’ve been looking forward to having a chat about a few models for quite a while - but have been otherwise engaged. So today I made the trip to my nearest AD...

Anyway this trout in goldsmiths basically told me I’m wasting her time unless I’m going to buy an Omega, Breitling or Bremont off her! Whilst I appreciate the honesty - is this a company wide policy or just this store/woman?

Very much like Porsche and their RS products I know Ad’s like to “build a relationship” - something that I’d be willing to do. However If I have to buy another watch to do this I’m simply not interested in any of the watches they sell at the moment...

Just want to work out whether I’m wasting my time with Goldsmiths?

I would imagine, reading between the lines, she's trying to sell you another watch with the pretence it will get you on a list. Adds to her commission and a good, if perhaps deceitful, sales tactic.

I recommend the Omega Troutmaster XL.

[So]

YouTalkinToMe said:

Just want to work out whether I’m wasting my time with Goldsmiths?

I would imagine, reading between the lines, she's trying to sell you another watch with the pretence it will get you on a list. Adds to her commission and a good, if perhaps deceitful, sales tactic.

Our local Goldsmiths staff are pleasant enough, but have told me some whoppers over the years. I wanted a particular model a while back and one of them checked the computer system for me, before telling me that there were none in the company. I found one in the window of my next nearest Goldsmiths.

[russy01]

YouTalkinToMe said:

I would imagine, reading between the lines, she's trying to sell you another watch with the pretence it will get you on a list. Adds to her commission and a good, if perhaps deceitful, sales tactic.

Yea it’s what I thought, but it’s not going to work if delivered in such an abrupt way. She could have then worked to at least show me a watch from these other brands but clearly couldn’t be assed to get off her chair - it was all very arrogant.

Oh well, I’ll make a bit more effort and visit independents a bit further afield.

[anonymous-user]

LaurasOtherHalf said:

Kettmark said:

My understanding is it was an official Rolex dealer. All high end gear.
What's stopping me from wearing it and putting the box in my suitcase?

Nothing, what's stopping customs from requesting to look in your case?

Hence why you wear the watch and post the box back

[p1dj83]

Goldsmiths no longer have "waiting lists".

From personal experience, this is what happens.

You have to "register your interest" for a watch. Then once they take delivery of a watch they will look at their register and check to see who meets their criteria..

Do they have a Rolex purchase history? Yes
Do they make an effort and make regular visits to the store? Yes
Are they likely to sell for a profit? No
Do they have funds available? Yes

The store manager decides who gets what

I'm 2 watches in, in less than 6 months.

[Mark Stevens]

I didn’t know the new Rolex watch market was a potential investment hot pot until I jumped onto this topic....I feel very Naive!

I purchased a yacht master 2 before Christmas which I absolutely adore. I fancied a new watch for my 40th but nothing jumped out at me until I saw the Rolex in the shop window. George Pragnell. Literally been in the window 20 minutes before I purchased it.

Anyway I’ll never sell it, at some point my son will own it.

[andy_s]

Mark Stevens said:

Anyway I’ll never sell it, at some point my son will own it.

That's made me feel old - I got an Explorer II when my son was born in 2000 intended doing the same for when he's 21 - here we nearly are already

[FWIW]

p1dj83 said:

Goldsmiths no longer have "waiting lists".

From personal experience, this is what happens.

You have to "register your interest" for a watch. Then once they take delivery of a watch they will look at their register and check to see who meets their criteria..

Do they have a Rolex purchase history? Yes
Do they make an effort and make regular visits to the store? Yes
Are they likely to sell for a profit? No
Do they have funds available? Yes

The store manager decides who gets what

I'm 2 watches in, in less than 6 months.

Well, if you bought the bi-metal first you have fallen into their trap met their criteria. Well done on the Batwoman though - I'd be flipping that pdq.

[russy01]

p1dj83 said:

Do they have a Rolex purchase history? Yes
Do they make an effort and make regular visits to the store? Yes
Are they likely to sell for a profit? No
Do they have funds available? Yes

The dumb thing is the answer to all those questions are the same as yours apart from the history. But if they aren’t willing to take a leap of faith on the first purchase then they’ll never obtain a good customer in me...

Being one of only 2 ad’s in a pretty big area I can only assume they already have enough ppl on their books.

I’ll continue to look elsewhere, or swing in when other staff are about.

[darreni]

I’ve had exactly the same thing from my local AD.

Does sir have a purchase history with us? No?, well we do have a date just that you really should consider buying, just to get you on the ladder & on to the lists.

Lol.

[MPC09]

FWIW said:

p1dj83 said:

Goldsmiths no longer have "waiting lists".

From personal experience, this is what happens.

You have to "register your interest" for a watch. Then once they take delivery of a watch they will look at their register and check to see who meets their criteria..

Do they have a Rolex purchase history? Yes
Do they make an effort and make regular visits to the store? Yes
Are they likely to sell for a profit? No
Do they have funds available? Yes

The store manager decides who gets what

I'm 2 watches in, in less than 6 months.

Well, if you bought the bi-metal first you have fallen into their trap met their criteria. Well done on the Batwoman though - I'd be flipping that pdq.

Nail. Head.

I don't get the Batwoman naming for the BLNR though. Well, I understand why, I just don't like it.

[p1dj83]

Can I just say... I genuinely wanted the Bi-Metal Sub as my every day watch. I didn't just buy it to get on a list which some of you are suggesting.

I decided to get it from an AD for around £1000 more than pre-owned at the time. With a new BLNR I've already made £1000's in return and will now get new models to invest in every year.

I have been in store when people have enquired about a Datejust in the window just to get some history. The dealers are not stupid and can tell if you genuinely want the watch or not.

[p1dj83]

darreni said:

I’ve had exactly the same thing from my local AD.

Does sir have a purchase history with us? No?, well we do have a date just that you really should consider buying, just to get you on the ladder & on to the lists.

Lol.

It literally is that ridiculous. I was lucky the first watch I wanted was Bi-metal so I didn't have to wait too long.

[jonah35]

p1dj83 said:

Can I just say... I genuinely wanted the Bi-Metal Sub as my every day watch. I didn't just buy it to get on a list which some of you are suggesting.

I decided to get it from an AD for around £1000 more than pre-owned at the time. With a new BLNR I've already made £1000's in return and will now get new models to invest in every year.

I have been in store when people have enquired about a Datejust in the window just to get some history. The dealers are not stupid and can tell if you genuinely want the watch or not.

It’s unlikely

The general unwritten rule is one for me one for you

In other words you buy one that loses value and they then give you a stainless sports

So if your last one was a blnr your next one is unlikely to be a ss sports

Ie you don’t usually get two in a row

But if you bought a solid gold day date then you’ll end up seeing a ss sports soon after

[p1dj83]

jonah35 said:

It’s unlikely

The general unwritten rule is one for me one for you

In other words you buy one that loses value and they then give you a stainless sports

So if your last one was a blnr your next one is unlikely to be a ss sports

Ie you don’t usually get two in a row

But if you bought a solid gold day date then you’ll end up seeing a ss sports soon after

That's an interesting point and I was told something similar from my local AD.

They said they usually allow 2 (in demand) watches per year, per valued customer. I'm waiting on a SS Daytona and possibly a new model for 2020.
I'm interested to see if I get any...

[BS62]

Reading stuff like this thread I sometimes wonder if people can hear themselves and the ludicrous hoops being jumped through for the privilege of parting with your money for a trinket. Honestly don’t understand how anyone can want a Rolex (or anything else for that matter) that they’d be happy to buy under those conditions.

[anonymous-user]

BS62 said:

Reading stuff like this thread I sometimes wonder if people can hear themselves and the ludicrous hoops being jumped through for the privilege of parting with your money for a trinket. Honestly don’t understand how anyone can want a Rolex (or anything else for that matter) that they’d be happy to buy under those conditions.

Mad isn’t it? If people didn’t go along with it the whole daft thing would collapse overnight.

[rog007]

It’s totally mad! But boy, when you get the call...

[anonymous-user]

BS62 said:

Reading stuff like this thread I sometimes wonder if people can hear themselves and the ludicrous hoops being jumped through for the privilege of parting with your money for a trinket. Honestly don’t understand how anyone can want a Rolex (or anything else for that matter) that they’d be happy to buy under those conditions.

You mustn’t take this stuff too seriously.

I’ve had a couple of Rolex watches and never seen, heard or experienced any of the ludicrous scenarios being discussed.

They’re watches FFS. Very good and very expensive watches but that’s it.

I could only describe some of the participants in some of the scenarios discussed, assuming they’re true, as mugs.