Rolex buyers rejoice!
I'm glad to have found this forum while shopping for my first Rolex. Didn't know there are so many grey dealers around in Singapore bringing Rolex and also other brands like Panerai, AP, Patek etc. Have looked around and its mainly these 4 that are imported (maybe bigger profit margins? easier to flip these brands?)
I was trying to think of the pros and cons of having such dealers around, and the effects of buying my Rolex through such a dealer. This is that I have observed:
Pros:
- Bypass long waiting lists in ADs. Even artificial waiting lists like Rolex Daytona which
we all know dealers stockpile in their safe.
- Huge savings compared to buying from ADs
- Dun need to bargain and haggle, straightaway best price is transparent
- No issue about warranty as long as the watch comes from a Authorised Dealer overseas.
- Much easier to get limited editions these days as dealers will bring in much more then allocated to the local ADs
Cons:
- Cannot use credit card to earn points or pay via instalments
- Eventually if the current rate of imports continue, this will create an oversupply situation of Rolexes, Panerais, APs and Pateks
- This in turn will drive down the resale value of everybody's watch
- Harder to sell in trading corner now since there are so many. Have counted about 6-7 daytonas currently on sale now!
- Grey dealers may not pass on savings to buyers. For example, I know of a friend who brought back a Deepsea from Europe at 10.5K Nett for his own use. Now I assume dealers are also getting at this price, or even cheaper. Many of the deepseas I see on trading corner are asking for 12k+, just undercutting the ADs by a bit. Not a lot, few hundred, but just enough to make the buyer choose a grey import over the AD watch.
So after all this observations, I have decided against buying a grey import. I am either going to wait till I go for my Europe holiday next month or have that experience of buying a Rolex from an AD.
What are your thoughts people? If price really the only consideration when you're shopping for your Rolex or other luxury brand watch?
I'm glad to have found this forum while shopping for my first Rolex. Didn't know there are so many grey dealers around in Singapore bringing Rolex and also other brands like Panerai, AP, Patek etc. Have looked around and its mainly these 4 that are imported (maybe bigger profit margins? easier to flip these brands?)
I was trying to think of the pros and cons of having such dealers around, and the effects of buying my Rolex through such a dealer. This is that I have observed:
Pros:
- Bypass long waiting lists in ADs. Even artificial waiting lists like Rolex Daytona which
we all know dealers stockpile in their safe.
- Huge savings compared to buying from ADs
- Dun need to bargain and haggle, straightaway best price is transparent
- No issue about warranty as long as the watch comes from a Authorised Dealer overseas.
- Much easier to get limited editions these days as dealers will bring in much more then allocated to the local ADs
Cons:
- Cannot use credit card to earn points or pay via instalments
- Eventually if the current rate of imports continue, this will create an oversupply situation of Rolexes, Panerais, APs and Pateks
- This in turn will drive down the resale value of everybody's watch
- Harder to sell in trading corner now since there are so many. Have counted about 6-7 daytonas currently on sale now!
- Grey dealers may not pass on savings to buyers. For example, I know of a friend who brought back a Deepsea from Europe at 10.5K Nett for his own use. Now I assume dealers are also getting at this price, or even cheaper. Many of the deepseas I see on trading corner are asking for 12k+, just undercutting the ADs by a bit. Not a lot, few hundred, but just enough to make the buyer choose a grey import over the AD watch.
So after all this observations, I have decided against buying a grey import. I am either going to wait till I go for my Europe holiday next month or have that experience of buying a Rolex from an AD.
What are your thoughts people? If price really the only consideration when you're shopping for your Rolex or other luxury brand watch?
Comment