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.

Outlines

00:00

📉 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.

05:02

🛍️ 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.

10:04

🏆 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.

15:06

🏅 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.

Keywords

💡Rolex Authorized Dealer

A Rolex Authorized Dealer is an official retailer appointed by Rolex to sell their watches. These dealers are recognized for their commitment to maintaining the brand's high standards. In the video, the speaker discusses the pros and cons of buying from these dealers versus the gray market, noting that authorized dealers may not always prioritize customer loyalty or satisfaction.

💡Gray Market

The gray market refers to unofficial channels through which products, such as luxury watches, are sold outside of the manufacturer's authorized distribution channels. The video discusses the gray market as an alternative to buying from authorized dealers, highlighting the potential for better service and value, but also cautioning the need to find credible dealers.

💡Market Value

Market value in the context of the video refers to the current selling price of a watch in the open market, which can be influenced by supply and demand. The speaker mentions that some Rolex authorized dealers may sell watches at prices higher than their market value, which could lead to customers losing money if they decide to resell.

💡Sky-Dweller

The Rolex Sky-Dweller is a luxury watch model known for its complex features, including a dual-time zone display. In the script, the Sky-Dweller is used as an example of a watch that is sold at a significant discount to its retail price, illustrating the price discrepancies that can exist between authorized dealers and the gray market.

💡Retail Price

Retail price is the price at which a product is sold to the end consumer by the retailer. The video contrasts the retail prices set by Rolex with the actual prices at which watches are sold in the gray market, indicating that the latter can be significantly lower.

💡Submariner

The Rolex Submariner is a highly sought-after dive watch model. The video mentions the Submariner as one of the best-selling models at the gray market dealer 'LWC', indicating its popularity and desirability among watch enthusiasts.

💡GMT Master

The Rolex GMT Master is another popular watch model, known for its functionality as a dual-time watch. The video highlights the GMT Master 2, particularly the 'Pepsi' bezel variant, as a top seller, reflecting its strong market presence and customer preference.

💡Daytona

The Rolex Daytona is a prestigious watch model, often considered the 'Holy Grail' of luxury watches. The video discusses the Daytona's enduring popularity and its status as the best-selling model at LWC, with various references and materials mentioned to illustrate its appeal.

💡Panda Dial

A panda dial refers to a watch face with a black and white color scheme, resembling a panda's face. The video mentions the stainless steel Daytona with a panda dial as a highly desirable model, suggesting that despite its iconic status, it has been outsold by the black variant in the recent market.

💡Oyster Flex

The Oyster Flex is a type of bracelet used in Rolex watches, known for its comfort and durability. The video references the Daytona with an Oyster Flex bracelet as a top seller, indicating consumer preference for this particular combination of model and bracelet style.

💡Platinum

Platinum is a precious metal used in high-end watch models for its rarity and value. The video discusses a platinum Daytona as an example of a top-tier watch, highlighting its exclusivity and the significant price point, which represents a high level of investment in a luxury timepiece.

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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