The used watch market: Rolex

[LittleWatchShop]

Interesting video

Who knew?  I certainly had no clue.

[Waggy]

I have a friend at work who collects Rolexs - I just collect debt, don't know how he does it.... anyway, he recently got his new Rolex (kermit) order in from the dealer after waiting 4 years (I think) and the dealer instantly offered him double what he paid for it  10 seconds previously. It looks like Rolex are choking production to drive up demand so they can remain 'the' exclusive brand. His second hand Rolex collection is now his retirement plan.

Edited June 2, 2023 by Waggy

[oldhippy]

3 hours ago, Waggy said:

I have a friend at work who collects Rolexs

Are you sure they are genuine and not fake because there are some good ones around these days. 

[Waggy]

Not sure I could spot a good fake, but they look good to me... but if he is being offered double the value of a genuine new one for them, maybe its a market I should get into 

[JohnR725]

6 hours ago, LittleWatchShop said:

Who knew?  I certainly had no clue.

That's because you're retired and not hanging around stores selling Rolex watches. Next time you're out go the jewelry stores that sell Rolex watches in your area and see if they have any? The procedure is you get to be on a waiting list a interesting game that I call it. Rather than stocking the stores with watches you sign up and then a watch will materialize. But that does create a interesting situation for independent dealers.

The store that I work at is a specialty store specializing in watches. People come in and ask if we have a Rolex watch and typically we have used Rolex watches in stock. Then my boss Sam will point out that we have Rolex watches but the jewelry store in the mall authorized to sell new Rolex watches has none. So the customer now gets to make a choice used Rolex or no Rolex or being on a waiting list for a new Rolex.