MASSIVE Rolex Market Shift! – Watch Dealers Honest Market Update - September 2024
Summary
TLDRIn 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.
Outlines
📉 Market Trends and Rolex Authorized Dealers
The speaker discusses the shifting trends in the watch market, noting a decline in prices over the last year. Despite this, the market remains stable and busy, particularly at LWC where sales and new clients have grown. The speaker highlights the difficulty in acquiring certain Rolex models and questions the value of maintaining a relationship with Rolex authorized dealers (ADs). They suggest that ADs may not prioritize customer loyalty, often pushing unwanted models and not providing the desired watches. The advice is to prioritize client satisfaction and avoid stocking overpriced watches to maintain long-term customer relationships.
🛍️ The Gray Market Alternative
The speaker explores the gray market as an alternative to buying from Rolex authorized dealers. They mention that while some may be skeptical of the gray market, there are credible and trustworthy dealers available. The gray market offers the potential for better service and experiences, as these dealers are more focused on retaining customers. The speaker also discusses the concept of the 'weight list' at authorized dealers, where clients are often told they must wait years for popular models. They suggest that the gray market can provide these models at a slight premium or even at retail price, with immediate availability.
🏆 Bestselling Rolex Models at LWC
The speaker reviews the best-selling Rolex models at LWC over the last four weeks, emphasizing the importance of staying updated with market trends. The Submariner, particularly the steel variant with and without a date, tops the list, with retail prices around £8,500 and £9,000, respectively, and selling for approximately £11,000 to £12,000. The GMT Master 2, especially the Pepsi model, is also popular, with prices ranging from £13,500 to £14,500 for the Jubilee bracelet version. The Batman and the meteorite dial variants are highlighted as particularly good value propositions in the market.
🏅 The Resilience of the Daytona
The speaker concludes with the Daytona as the top-selling Rolex model, with a focus on the Oyster Flex variant. They mention the Ghost, Paul Newman, and stainless steel Daytonas as particularly desirable, with prices ranging from £36,000 to £37,000 for the white gold variant and £25,000 to £27,000 for the stainless steel models. A special mention is given to the platinum Daytona, which is offered at a competitive price compared to the retail price, indicating its value. The speaker suggests that the Daytona's popularity shows no signs of slowing down.
Mindmap
Keywords
💡Rolex Authorized Dealer
💡Gray Market
💡Market Value
💡Sky-Dweller
💡Retail Price
💡Submariner
💡GMT Master
💡Daytona
💡Panda Dial
💡Oyster Flex
💡Platinum
Highlights
Trends in the Rolex market are changing, with prices slowly declining over the last 12 months.
It's currently a good time to buy as the market is stable and busy, especially for harder to get models.
Rolex authorized dealers may not prioritize customer loyalty, often pushing unwanted watches onto clients.
The importance of looking after clients is emphasized, with a focus on not stocking watches that aren't worth the market value.
Some Rolex authorized dealers are willing to sell anything in stock without concern for customer loss.
There are credible and trustworthy gray market dealers who offer better service and aim to retain clients.
The gray market can offer better value on certain Rolex models, such as the Sky-Dweller, which often sells under retail price.
Some models like big gold pieces have been underperforming in the market, offering good value on the gray market.
The gray market can provide watches like the GMT and Submariner at a slight premium or retail price, bypassing long waitlists.
There's no loyalty with Rolex authorized dealers, and clients are advised to explore the gray market for better service.
The Rolex Submariner, especially the steel variant, remains one of the top-selling models.
The GMT Master 2, particularly the Pepsi variant, is another top seller with high demand.
The Daytona remains the number one bestseller, with the oyster Flex being particularly popular.
The market for Rolex watches is dynamic, with different models' popularity changing month to month.
The Daytona in stainless steel is considered the 'Holy Grail' and is highly sought after.
The platinum Daytona is a top-tier watch offering great value for money, especially in the pre-owned market.
Transcripts
Trends are certainly changing and in
this video I'm going to be discussing
the pros and cons of buying from your
Rolex authorized dealer against buying
from the gray market for you guys that
follow the channel and also follow the
market I'm sure you're probably aware
that prices over the last 12 months have
been slowly declining yes it is still a
stable Market yes it's still a very busy
Market yes we are still very busy at lwc
what does that mean that means it's a
good time for you guys to buy out there
certainly for us here at lwc we've seen
the the company grow over the last 12
months with regards the sales and the
new clients we've had to the boutique
but you know some of the harder to get
models out there you know they're still
proving hard to get in the marketplace
is now the time to buy from the gray
Market permanently or should you
continue to do the dance with your Rolex
a let's start with the Rolex authorized
dealers some of you guys watching this
may not like this but I'm going to tell
you now from my experience of the last
10 years Rox ads genuinely do not care
about you and your business and your
loyalty and what do I mean by that
they're more than happy to push watches
to you that you've not requested not on
your list and certainly not ones that
you actually want to buy because the
market was booming over the last sort of
two or three years you guys out there
will have to take anything from your
authorized dealer you could literally
sell it for a profit within an hour of
taking it the market certainly changed
now so regarding your relationship with
your roal xad is it really worth it
that's the big question when you get the
call do you need to be taking that call
do you need to be not taking that call
well my advice to you is certainly as a
business owner rule 101 of of being a
business owner is to look after your
clients that is the most important thing
for me and that also means us not
stocking certain watches that you know
we think are not worth the current
market value because at the end of the
day I want to keep you as a client if I
sell you a watch you buy it from lwc 6
months later you decide you don't want
it and we just turn around and go
actually don't want that watch or I've
overcharged you for that watch that's
not something we've ever done at lwc the
Rolex authorized deals are slightly
different they're more than happy to
sell you anything that they've got in
stock and they don't care whether you
lose money we've covered it in so many
videos where some of the bigger pieces
out there the big gold pieces the Big
Sky dwellers we own the notoriously
under list price I've got one to show
you here for example this is a sky
Diller we had one recently and we showed
it on the channel same model this is a
brand new unworn Sky Diller 18 karat
yellow gold with a black dial the retail
price from relx is around £37,000 now
we're selling is for £28,000 to nearly 9
,000 under list price so this is a prime
example if you get the call from your Ro
xad they W happen to sell you this watch
at full retail price but bear in mind
when you come to sell it you have to go
to the gray Market to sell this watch
and what are they going to tell you it's
worth literally 30 to 35% less than
Rolex retail price some of the models
that have been in the danger zone of the
last 12 months we've covered in many
many videos if you've not seen them
check them out on the channel but they
are the big gold pieces they are the
steeling gold pieces some of them ask
really good value on the gray market and
I'd advise going out there find yourself
a credible dealer you know looking at
what they've got in stock do your
homework on them you know because for
you guys out there and you're all going
to start there looking at me here and
going yeah but I don't trust the gray
Market where can I go in the gray Market
this is why we continue to do the dance
with the your Rolex authorized dealer
well I can tell you you know there's
plenty of credible honorable trustworthy
gray Market dealers out there do your
research go find them and I'll guarantee
you'll have a better service and
experience than you will have at your
authorized dealer because they genuinely
want your business they genuinely want
to retain you as a client and at the end
of the day yes we have a margin to make
yes we are a business but it's also very
important for you guys to understand
it's not just about selling one watch
it's continuing that relationship
building new relationships and keeping
you guys as one of our clients forever
one thing I do want to discuss is the
authorized dealer weight list something
that we have many conversations with our
clients every day of the week at lwc is
is it superficial is this weightless
superficial I can tell you from my
experience that majority of clients out
there watching this that all you want is
your GMT all you want is your submarin
dat you know you are struggling to get
it it's now a place in the market where
you can actually go to the gray market
and pay a tiny bit over retail for some
or retail for others and you can pick it
up on the day you know some of these
watches that you've been actually told
it's two three year four years I can
tell you stories all day long from my
clients that come to see me and some
stories you actually would not believe
what they're told and the serious people
who spend you know decent money with
Rolex over a period of time and what you
got to remember is there's no loyalty
with Rolex anymore you know yes I sell
Rolex watches yes are they the best
brand in the world in my opinion yes you
know have we built our business around
Rolex models yes we have but when it
comes to the authorized dealer and the
way they Supply you guys that's where I
have a problem so for me personally you
know if you're looking at being retained
as a client you know I think it's very
important that they should be looking
after you more and like I said before if
you're looking for that watch you know
get yourself into the gray Market do
your home there's enough information out
there and buy yourself your watch on the
day so to answer the question that I
started this video with should you
continue to do the dance or should you
go straight to the gray I would honestly
say in the current market for some of
you yes continue doing it you've always
got a bit of a relationship you've maybe
took the watches you didn't want you're
now getting the cream the really nice
watches that you've always wanted yes
continue but for the majority of people
are certainly people new to the market
i' actually say know there's no point
doing that sort of two three four year
for your watch get yourself out there
you know find yourself a credible dealer
keep on the list with your Rolex ad you
never know you might get the call but
what I would say to some clients this is
and we say this clients all day every
day is look stay on the list with your
Rolex ad come buy a watch let's say from
lwc if you get the call for that watch
we more happen to buy that from you or
we'll buy the watch that we've sold you
back and then you can just literally
keep the new one from your ad so either
way you're playing the game as always
we'll jump into the bestselling models
of the last four weeks at lwc the market
Market has changed and this is why it's
very important to tune in for Market
updates and follow the market because
month on month each months are actually
different with the watches that we
actually sell and some that are popular
one month as sometimes the following
month are not as popular so number four
in the category is the Rolex Submariner
again covered this in so many videos the
top of the charts in this particular
category is the Submariner date and no
date the steel variant we've got a
couple to show you here for you guys
that have not seen them this is the new
41 mil so we've got the no date and
we've also got the date which I might I
just have one in my drawer here let me
just double check here we have so these
are the two here for you so we've got
some of date and no date 41 mil like I
said the absolutely bullet proof s after
goto watch that's our top one in the
Submarina range let you guys know retail
on the no day which is this one is 8,50
retail is 9,000 on that one we sell
these around 11,000 sell these around 12
12,000 let's go to the next one in the
Submarina range the other top three that
were our best sellers was the Starbucks
I've actually got a couple to show you
here we've got the Mark 1 and Mark 2 for
you guys that don't know the mark one is
the darker one this is one the darker
green bezel which is now discontinued
they've got the mark 2 which is this one
here which is the lighter green bezel we
sld pretty much similar amounts of both
as probably say the lighter green is the
most popular I actually really like the
dark green now I think it's a really
nice color and a bit more subtle but
again you know Beauty in the eye of the
beholder you guys certainly will choose
the one that you like again pricewise on
these the retail is just under 10,000
and we sell these for around about
anywhere between 12 1/2 to 13 half
thousand and then we've got the blues I
think we sold out actually we had one in
the other day this is like the the
bestselling submar in my opinion no
matter what the Market's doing the blues
it the iconic blue dial and Blue Bezel
been selling those as well and let's
move on to category number three coming
in at number three is the GMT Master 2
the 40 mm variant no surprise to you
guys our bestselling the last four weeks
is the GMT Master 2 Pepsi the beautiful
blue and red bezel on the Jubilee oyster
but Jubilee as we all know is the best
seller again what else is good in that
lineup we've been sell quite a few of
the bat girls and Batmans got a couple
to show you here this is the new one
with the Jubilee bracelet literally sell
so many of these at lwc we'll stock and
buy as many as we physically can if you
look website we probably got four or
five them at the minute just because we
like them so much again retail wise on
this just under 10k we retail anywhere
between sort of like 135 to 145 15
depending on the year in condition and
we've got the Batman as well actually
this is obviously a really nice watch as
well on the oyster bracelet again retail
price just under 10k 95 is I'm going to
say we sell these for around about
144,000 just to let you know for brand
new and wars and considering that how
hard they are to get both of these
models I think they're really well
priced in the market I can see why you
guys are pulling trigger cuz the blue
and black is really nice got a couple of
others in this range as well we've been
selling got Sprite again the Jubilee
always out sells the oyster I think I've
got an oyster in the back there you know
these have come down a little bit in
price I think they're certainly well
priced in the market I've always said
these are really good long termers
leftand drives but I think considering
that these are for sale between sort of
15 and 16,000 online I think they're
really really good value consider this
particular one here has been out for a
few years this is the new model the new
reference obviously it's the new one the
new release from Rolex and I think it's
a really good watch so for you guys out
there 15 to 16k I think it's really good
value for money and another one this is
really exciting one actually we had the
GMT Master 2 meteorite dialing this is
where the market is and this is show how
rare this watch is and what I think is
extremely good value I think we've only
ever had two GMT Master 2 meteorite
dials it's in the white gold variant 18
karat white gold this particular watch
to give you guys an idea the retail is
just under 40 was around £39,000 we sold
a 2023 one very lightwear um literally
like brand new for £43,000 considering
the market compare that to the Rolex
data owner on a full gold bracelet what
does that sell for that's literally
nearly doubl in price depending on the
precious metal combination so for me the
metri GMT and I know a lot of you guys
watching this absolutely love that watch
I think it is fantastic value for money
and it did not last long online and
number two of our best sellers vwc which
is a complete reversal from the month
before and this is why it's important to
follow market trends and certainly our
videos is the Daye just range had a
Renaissance of date just buyers and the
most popular and the same as the top
category and sellers like for like is
the date just 41 and also the date just
31 this is where the markets we've said
you see very very few dat just 31's
coming through they're very hard to get
from your Rolex authorized dealer
whenever we get the LC we'll buy as many
as we can and will sell them out pretty
quickly we've sold a beautiful floral
Diamond Motif dial we've sold the
diamond six the pink one beautiful watch
we've got a couple of those in the back
but certainly for you guys out there the
41 again we've got the Wimbledon I won't
talk too much about because we've
covered that in many videos the best
sellers for us out is the dark blue had
a client collect one yesterday same
combination flued Jubilee and we also
sold the mint green and also this
particular combination but if you guys
out there looking for something a bit
different and I really like this watch
and it does seem really popular in the
market and it's the exact same
combination what I mentioned but with
the smooth stainless steel bezel mint
green dial if you guys wanted something
that is my opinion quite a lot of watch
for the money this is retailed by us
under £10,000 around 9750 the retail
price from Rolex is around £ 7,300 so
yeah a couple of, more over this you're
going to pick yourself up a brand new
unworn mint top of the 13 dials top of
the tree as far as dial color from a
gray Market dealer and you going to get
something really nice for under £10,000
coming in number one no surprise to you
guys out there the Rolex Daytona let me
tell you the Daytona train is not
stopping the biggest seller in this
particular category is the Rolex Daytona
oyster Flex I've got quite a few to show
you today I'll quickly fly through them
the number one as always the Daytona
ghost 18 karat white gold gray dial
black subd this is the new reference
these are really really hard to get in
2024 we've hardly seen any coming
through whatsoever and over the last
week we've been had the opportunity to
buy quite a few so that tells me the
Rolex authorized dealers are pushing
them out this week so for me this is the
second one we've had in as many days had
a client pick one up yesterday retail
price from Rox 29 three we sell these
online for between 36 and
£37,000 I've got the old reference to
show you here again really like this
watch these are really good value in the
market anywhere between sort of like 30
to 33,000 depending on the year what a
watch they are then into the sort of the
Paul Newman I've got a bit of a treat
for you guys as well today so we've got
the new reference with the new obviously
bezel New Movement this is the 126 Paul
Newman and I've actually got the old one
as well I've got another one here and
that's got the beautiful red hand which
I know a lot of you guys out there
absolutely cover so I've got one of the
old one of the new pricewise on these
early 30s to mid-30s on those did have a
Pikachu like mine unfortunately it has
gone sold pretty quickly we've also got
this one which is the sundust again rose
gold variant listed 293 we sell these
around about 35 36,000 so one last week
stocked another one so that're really
popular and hard to get then we're into
the next best selling in this particular
category and it is the stainless steel
Daytona the iconic the Holy Grail we've
actually got two variants to show you
here so I've actually got the black one
and believe it or not this is outsold
the new reference Panda this only
arrived yesterday so for you guys out
there I'm sure at some point on your
Watch Journey you need to get this watch
it's got that you've got to get it on
your sort of list so this one here is
the black variant to get you guys know
the retail for both these ones is £
13,200 we sell these around 25 26 and we
sell these for around
£27,000 again we all know how hard they
are to get but for us the black in the
last four weeks has outs sold the panda
and then the last one I'd like to talk
about is actually a platinum Dayton I've
got another one to show you here this
one is the old reference it's the
double1 16506 reference discontinued
when we're talking value for money when
we talking something a little bit
different when we're talking the elite
top tier of watches and models within
the Daya on the lineup this is right
there aka the dadic we all know this
watch and if you see that ice blue you
noce a platinum the weight is
unbelievable
this is on for sale online on our
website for under the new Rolex retail
price which is 66,800 is I'm going to
say we've got this for sale for around
65 66,000 what a watch what great value
for money we sold a newer one this is
2016 by the way we sold a
2022 to a client bought it for her
husband for gift he's not actually got
it yet so I hope he doesn't watch this
video before it goes out but it's coming
to you very soon and we sold that for
£75,000 so so for me the daytonas the
train is not stopping hope you enjoyed
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