Has anyone noticed?

[RoyalOak]

Ever since Rolex instructed local AD to sell their watches at retail price, the prices now in the 2nd hand market are even higher than what they were before the instruction!

Does this even make sense? Lately I saw another member selling a Hulk at 15.3k in this forum! I remember the same piece was sold by the AD at 13-13.5k before the Rolex instruction. 2k price increase in half a year!

The Hulk, Batman, SD and the Daytona are now the flipper's grail pieces!

[Oceanklassik]

My observation likewise. The phenomenon is not just local. It's almost worldwide

The shortage of many ROLEX sports models, coupled with the increasing demand, are attributing factors to the sudden and huge price increase! I've been observing how the grey dealers and shops price their watches lately. It's madness, really.

I wonder if this is some strategy to 'bring' back more buyers to the ADs? Since ADs can only sell at retail prices, or some with slight discount.

[anson880621]

The price was too crazy

[kennethTanTan]

Lol hold 1st don't buy.

[RoyalOak]

I suspect many flippers have put their names in the waiting list of the AD, using own names, wife's name, kids' names, in-laws' names, parents's names etc. The moment they receive the watch from AD, they will flip immediately in the resale market.

Given the strong demand, there is no risk of loss really to these punters.

Can Rolex Singapore do anything to manage this situation? I understand Patek monitors all their watches sold by requiring each owner to register his/her watch with Patek centrally. Hence, any resale can be tracked to a particular AD. If the number gets too high for any AD, supply to that AD may be constricted as a form of "punishment". The onus is thus on that AD to properly screen who they sell their watches to because they know their own customers. This method, though not fool-proof, works to a certain extent. I hope Rolex does something similar to that effect.

[triton]

part of the reason is that europe used to be a haven for people who travel there for work and they start to buy watches to sell in SG factoring in discount, exchange rate and premium customers have to pay at AD and/or preown watch say about 10 years. buyers in SG can then proceed to RSC for verification.

fast forward mid 2017 when rolex announce that SG AD cannot sell the rolex above premium AND that in europe, the AD know that many buyers from asia are flipping the watches bought from them. couple with the rise of china tourists who visit europe who are willing to pay premium for the watches hence they would rather sell to buyers who are willing to pay a premium then sell at discount to resellers.

with these factors, customers in sg who are willing to pay premium can no longer get the watches they want from resellers. hence the price of watches that resellers are quoting are getting higher because AD cannot sell above list.

there are also other reasons that why AD are telling many customers that they don't have stock. yet at the same time you see members posting those high demand pieces in social media, many customers who are on wait list now are left scratching their heads

[Oceanklassik]

I suspect many flippers have put their names in the waiting list of the AD, using own names, wife's name, kids' names, in-laws' names, parents's names etc. The moment they receive the watch from AD, they will flip immediately in the resale market.

Given the strong demand, there is no risk of loss really to these punters.

Can Rolex Singapore do anything to manage this situation? I understand Patek monitors all their watches sold by requiring each owner to register his/her watch with Patek centrally. Hence, any resale can be tracked to a particular AD. If the number gets too high for any AD, supply to that AD may be constricted as a form of "punishment". The onus is thus on that AD to properly screen who they sell their watches to because they know their own customers. This method, though not fool-proof, works to a certain extent. I hope Rolex does something similar to that effect.

With regard to putting names with the ADs, I had an interesting conversation with some ADs lately. Yes, the ADs would still call up their customers when the watch(es) arrived. But, the ADs would not hold the watch(es) for very long, if the customer could not make it to purchase the watch(es) within a few hours/same day. For example, AD receives a HULK in the morning. He/she then calls Customer A but A said he cannot make it and requests AD to hold the watch for a few days. AD will not accede to the request and will pass on to the next customer in the wait list.

According to the ADs, they could not hold the watch for too long, as their system would show it and the delay would result in future orders. This means that the longer a watch remains in their records, the harder it will be for them to get new stocks.

Comparing the amount of watches produced and sold between Patek Philippe (PP) and ROLEX, I doubt the latter can adopt what PP does. It'll be tremendous amount of work for ROLEX.

[RoyalOak]

I recommend people to stop buying from flippers at current inflated prices, until Q2 2018.

The shipment of these popular sports models will continue from Q1 2018 again as I understood their shipment is currently on hold until end of the year. Just be patient.

[r3kahsttub]

I have to ask -- is it even possible to get a 116610LV, 116710BLNR or even Daytonas at retail from AD? Even if on an unrealistic list, here in MY, you have to spend RM50-100k first before you would be considered to be "rewarded".

[Oceanklassik]

I have to ask -- is it even possible to get a 116610LV, 116710BLNR or even Daytonas at retail from AD? Even if on an unrealistic list, here in MY, you have to spend RM50-100k first before you would be considered to be "rewarded".

This is a question many of us are asking ourselves. No one has the answer, or should I qualify, no one I know has the answer to it. There have been hearsays, rumours, but personally, I haven't seen or experienced it.

Maybe, some here who have benefitted from this can share? I recalled there is a member here who got his ss Daytona C earlier this month from a local AD, after only a few months of wait:

https://www.sgrolexclub.com/threads/...My-new-daytona

Then sometime early this year, someone shared that he/she managed to buy a ROLEX GMT-Master II (Batman) for 14K at Watch Palace, a ROLEX AD:

https://www.sgrolexclub.com/threads/...ghlight=palace

(see post #16 onwards)

[r3kahsttub]

Noted. So with Rolex supposedly enforcing it, there seems to be no follow up. I'd like to see some ADs lose their licenses, especially with shady practices. But then again, this is Asia so if I'm honest, I'm not surprised really.

[RoyalOak]

I saw a joker selling hulk at 16k in Carousell.

This is getting crazy. Pls don't buy from him, the stock will come in again next January. Just be patient.

[Oceanklassik]

Noted. So with Rolex supposedly enforcing it, there seems to be no follow up. I'd like to see some ADs lose their licenses, especially with shady practices. But then again, this is Asia so if I'm honest, I'm not surprised really.

ROLEX enforcing it? Nah, I doubt so. They just set the (new) rule for the local ADs to follow bah. Enforcing it would mean ROLEX actively make checks and bring to task any who flout this rule. Not so sure if they actually did it.

I saw a joker selling hulk at 16k in Carousell.

This is getting crazy. Pls don't buy from him, the stock will come in again next January. Just be patient.

Some months back, a watch dealer shared with me that he was 'scolded' by his watch dealer partner from Hong Kong (HK), to have sold a new HULK for $13.8K locally. The HK partner told this watch dealer that he had priced it wrongly, and that he should have sold it at least at $15K and above

[RoyalOak]

I have written to Rolex Singapore on this "flipping" situation, and they informed me that they are aware of it, and are currently working closely with the AD to address it. They also encouraged me to liaise with my AD on these popular Rolex models, instead of the flippers.

Fingers crossed!

[Timetraveler]

Even you complain rolex Singapore also no use

Sadly to say Rolex Singapore can’t do anything because AD rather sell to vip customer or gray market because of higher profit margin. You walk in AD if they tell you they selling @ retail price is BS, it because that they scare sell you premium price later on you will complain to Rolex. Overall if they choose not sell to you/*Out of stock which actually the stock inside safe*and you also can’t do anything about it