MASSIVE Rolex Market Shift! – Watch Dealers Honest Market Update - September 2024

Summary

In this video, the presenter discusses the fluctuating market for Rolex watches and advises on whether to buy from authorized dealers or the gray market. They highlight the pros and cons of each, noting that while authorized dealers may not prioritize customer loyalty, gray market dealers offer better service and value. The video also reviews the best-selling Rolex models over the last month, emphasizing the enduring popularity of the Daytona and Submariner lines.

Takeaways

• 📉 The market for luxury watches, particularly Rolex, has seen a decline in prices over the last 12 months, making it a potentially good time for buyers.
• 📈 Despite the price decline, the watch market remains stable and busy, with the speaker's company experiencing growth in sales and new clients.
• 🛍️ Some Rolex models are still hard to acquire, suggesting that certain models retain their desirability and exclusivity.
• ❌ Rolex authorized dealers are criticized for not valuing customer loyalty, often pushing unwanted models onto customers during the market boom.
• 🤔 The speaker advises business owners to prioritize client satisfaction and avoid stocking overpriced watches that may devalue.
• 📉 The gray market for Rolex watches is highlighted as an alternative, where buyers can find better deals and service, especially for harder-to-get models.
• 💸 Gray market dealers are portrayed as more customer-focused, aiming to build long-term relationships and provide better value for money.
• 🚫 The concept of loyalty to Rolex authorized dealers is questioned, with the speaker suggesting that the gray market can offer better immediate satisfaction.
• 🏆 The Rolex Submariner, especially the steel variant, is identified as a top-selling model, indicating its ongoing popularity.
• 🥈 The GMT Master 2, particularly the Pepsi model, is highlighted as another strong seller, with the Jubilee bracelet variant being especially popular.
• 🥇 The Rolex Daytona tops the list of bestsellers, with the oyster Flex model and the iconic stainless steel Daytona being the most sought-after.

Q & A

What is the current trend in Rolex watch prices?

The prices of Rolex watches have been slowly declining over the last 12 months, but the market remains stable and busy.

Why might it be a good time to buy a Rolex watch?

It's a good time to buy because the market has changed, and certain models that were previously hard to get are now more accessible.

What is the speaker's opinion about Rolex authorized dealers?

The speaker believes that Rolex authorized dealers do not care about customer loyalty and are more interested in pushing watches that customers may not want.

What advice does the speaker give about dealing with Rolex authorized dealers?

The speaker advises business owners to prioritize their clients and not to stock watches that are not worth the current market value. They suggest considering the gray market for certain models.

What is the gray market and why might someone consider buying from it?

The gray market refers to sales channels outside of authorized dealers. Buyers might consider it because they can find certain hard-to-get models at potentially better prices.

What is the 'dance' with Rolex authorized dealers?

The 'dance' refers to the process of maintaining a relationship with authorized dealers in hopes of obtaining highly sought-after models.

Why might someone continue to 'dance' with Rolex authorized dealers?

Some people might continue because they value the relationship and hope to eventually get the specific models they desire directly from the dealer.

What are some examples of Rolex models that are considered good value on the gray market?

Some models considered good value include big gold pieces, steel and gold pieces, and certain models like the Sky-Dweller that often sell for less than retail price.

What are the best-selling Rolex models according to the speaker?

The best-selling models mentioned are the Rolex Submariner, GMT Master 2, and the Daytona, with specific variants like the Pepsi, Batman, and Daytona oyster Flex being particularly popular.

What is the Daytona train mentioned in the script?

The Daytona train refers to the ongoing popularity and high demand for Rolex Daytona models, which shows no signs of slowing down.

What does the speaker suggest for those looking for specific Rolex models?

The speaker suggests that those looking for specific models should consider the gray market, do their research, and find a credible dealer to potentially get the watch they want on the day they want it.