Watches - another OCD problem
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I've seen a couple brands in other industries try to maintain demand by artificially stifling supply. What happened there was that people got frustrated, hostility boiled over, customers found a competing product that scratched the itch and the brand that tried to create demand by choking supply wound up having the inverse desired effect.
Now I'm pretty sure that won't happen to Rolex as they are the most recognized brand in the world, but it will be interesting to see if there's any damage to the brand name with this business move.
I had the money for a Pepsi GMT, but it's already been delegated to other toys while I was waiting for it to come out.
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i'm highly doubtful that'll happen to rolex at all. it may have something to do with the perception of the brand by the majority of people whether it's seen as reaching a certain level or achievement or some sort of status symbol.
the way the dealers work when creating these waiting lists "on behalf" of rolex is that there's always some sort of priority to the top 1% which sucks for us people wedge in between. that way, they are almost guaranteed that the specific watch will fly off the shelves to people with high disposable income.
it's a shame but that's capitalism for ya.
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This. Which is why Rolex SS watches, as an example, retain their value better than most. Desirable watches are 'stored' and not displayed by many retailers as to offer these models to their preffered clients. Not a preffered customer, and want a certain watch, well then be willing to pay a premium in the market.
That's the fun of it.
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I agree with @DougNg that restricting supply could hurt Rolex in the long term. If I went into a dealer looking to make an expensive discretionary purchase, only to be told, "We're only selling those to our best customers, and we're not even going to let you put your name down on a waiting list," there's a good chance that I'll go to another watch shop and brand in the future.
I'm probably not the only one who thinks like that. The fact that I can get a white faced IWC Big Pilot Big Date (one of a limited edition of 150) easier than a Daytona (341 for sale on Chrono24) suggests that someone is taking the Mickey.
If you want a Rolex, find a dealer who'll put your name down on "the list", and be prepared to wait. (Anecdotally, the time will be less than you'll be quoted, and I've heard of people getting Daytonas within a year.) And accept all of the comments about a shortage as being sales BS.
Or pay a premium on the grey market.
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As someone who bought a GMT Master II SS from a dealer 2 years back, I went to the Rolex store in SYD, was put on the 1 year list, and went to an AD around the corner who knew on the spot he'd have a watch in for me within a month, no deposit needed. I was called by the Rolex store a few weeks after my name went on the list asking was I still interested as he had a watch for me ready to go.
I'm not sure how much of this is rhetoric vs the reality that exists, vs my timing, vs being in SYD. My own first hand experience was set up to play out how it's described here, however, the reality very quickly turned out to be different.
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The calculation made by the brand is that they'll be able to upsell them on bimetal or precious metal pieces, which are higher margin products. Once the customer is (1) committed to buying a Rolex and (2) in the store with cash in hand, they are in a weakened position and a significant proportion will be upsold.
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Here's another GMT, the Grand Seiko 9F Quartz GMT. This version, with the yellow highlight, has a specially tweaked movement accurate to within five seconds per year. :o
More at Watches by SJX.
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Here's another GMT, the Grand Seiko 9F Quartz GMT. This version, with the yellow highlight, has a specially tweaked movement accurate to within five seconds per year. :o
More at Watches by SJX.
dead sexy–but among my very favorites of all GMTs is this one: http://watchesbysjx.com/2017/10/introducing-the-grand-seiko-hi-beat-gmt-peacock-sbgj227.html
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@mclaincausey the green peacock dial is lovely.
I like the Grand Seiko Blue Ceramic GMT, although it's probably an acquired taste.
It's also a big (46 mm in diameter) and expensive ($15K) watch.
Hodinkee and Watch Time have writeups.
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Here's the background story on the Rolex in Crazy Rich Asians.
And an Instagram post by the very lucky owner.
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It was a pretty fun movie. I'm told the author name drops exceedingly nice watches throughout all three books in the series. It will be interesting to see if any others get screen time in the future movie(s).
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So I went to the Vintage Rolex Forum x Fourtané meet last weekend in Carmel-by-the-Sea (see below for the link) and it was wonderful. I met a lot of wonderful people there, Eric Ku included, and saw the below Oysterquartz. I knew my father would love it so I let him know about it and now he's the proud owner of this 1980 Datejust Oysterquartz! It's his first vintage piece and he couldn't be happier. I love that I was able to convince him to get it and offload his regular Datejust
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About 10 years ago I had a dealer offer me an Oysterquartz for $700 and I sadly passed on it because we were buying a house. [emoji24]
Today:
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