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.
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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.
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Originally posted by r3kahsttub View PostI 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".
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)
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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".
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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.
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Originally posted by RoyalOak View PostI 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.
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.
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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
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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.
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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.
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Has anyone noticed?
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!Tags: None
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