re: The Rolex business model is dumb

Yea not arguing with you, just saying that to a layman it sounds unlikely.

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Seems odd they would do that unless the bottom line is heavily suffering, which maybe it is since luxury goods as a whole are down right now globall

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bingo....

Seems most Rolex stores are run like car lots. Lots of independent authority within the stores.

My wife and I have found it comical when traveling to go in to stores just to see whats available these days. Some stores say they can put you on a wait list, some offer to order you exactly what you want and wait for it to come in....And when you tell the waitlist stores that other stores are offering to order you exactly what you want, they look at you like you just hit their momma, and start defending Rolex policys...

Sounds like the car business in covid if you ask me....

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That still does not make it the most recognizable or even close to it I think you and him are confusing prestige with recognition

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No…..I mean recognition…,,more people (non watch) people are going to look at a Rolex and recognize that it’s a luxury watch then are going to to look at a Patek and know what it is. Hence the Rolex is more recognizable while the prestige of each would be arguable (by watch nerds, cause nobody else with give damn).

Your story is essentially the same as mine from several years ago. The first luxury watch that really struck me was an Omega Seamaster. That drew me into looking at luxury watches. I was aware of the Submariner just by seeing it on so many wrists, but that didn't necessarily get me into wanting a luxury watch. However, at some point I decided that if I was going to spend that much money on a luxury watch I should get the classic "standard bearer" that will pass the test of time. I tried to buy a Submariner from my local AD and was shocked to learn there were none available for purchase and the AD had "no idea" if and when one would ever be available. Naively, I decided to get on the waitlist. After about a year of nothing I decided "this is stupid". I then just bought the Seamaster I wanted from the beginning...and I'm still wearing it today. Mechanically it is probably just as robust as the Rolex. But obviously the Rolex brand stands above the rest in terms of perception.

A few years ago I was in Las Vegas and stopped by a few Rolex boutiques. I would have bought a Datejust while there...if there were any available to purchase. Of course, there weren't. However, I was offered the opportunity to buy some gaudy all gold watch for the low, low price of $55k. It seemed dumb that Rolex would have an entire boutique, with multiple employees, and very little inventory to actually sell to customers. But it works! There was a line to get into one boutique..who very clearly expressed it had no watches available for sale. Moving forward, if I come across an available Rolex I like I may buy it. But I'm not bending over simply hoping for the chance Rolex picks me to be worthy of giving them $10k+

That said, I totally understand why they do it....

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I was enamored by the name and heritage

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That is Rolex's most valuable asset. Its name/brand. If they lose that goodwill the company loses its value. That's why they are creating an artificial scarcity to keep their brand recognition prestigious and that only the high end of society is worthy of owning their product.

Prior to creating the scarcity it wasn't hard to find a $40k "millionaire" wearing a Submariner or some oil patch baw in dirty jeans and an Ed Hardy shirt wearing a Rolex. No offense, but that is NOT the image Rolex wants to portray. If anyone and everyone can access the product then it is no longer "exclusive" and it dilute the brand. You've seen it with luxury brands like Gucci and Luis Vuitton. What used to be reserved for the high end of society is now commonplace for the 25 year old receptionist at the doctor's office who drives a beat up Altima (though many of the products are fakes). The actual high society people are passing on those brands now because they are seen as "luxury" for the peasants.

That sounds harsh. But that is the nature of luxury items. They have to protect their brand prestige at all costs. Rolex is doing that by essentially trying to limit and choose who is worthy to wear their product. Obviously, to date, I'm not in that group. But I get why they are doing it. Hell, in BR alone Rolex stopped allowing Anton's to be an AD. It wasn't because Anton's is a bad store. It's that Rolex saw the surrounding area becoming too "ghetto" and did not want their brand associated with it

I enjoy watching the poors squabble over their Rolex collections.

Wake me up when y'all level up to the world of Vacherie Constantin luxury.

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Prior to creating the scarcity it wasn't hard to find a $40k "millionaire" wearing a Submariner or some oil patch baw in dirty jeans and an Ed Hardy shirt wearing a Rolex. No offense, but that is NOT the image Rolex wants to portray. If anyone and everyone can access the product then it is no longer "exclusive" and it dilute the brand. You've seen it with luxury brands like Gucci and Luis Vuitton. What used to be reserved for the high end of society is now commonplace for the 25 year old receptionist at the doctor's office who drives a beat up Altima (though many of the products are fakes). The actual high society people are passing on those brands now because they are seen as "luxury" for the peasants.

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and why they spawned a rabid chinese super-clone and frankenstein rolex industry.

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I walked 2 blocks down and bought an Omega Seamaster instead. No wait, got exactly what I wanted, and it's a better looking watch.

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Well done. Rolex is definitely the "basic bitch" luxury watch.

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Vacherie Constantin

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LOL. This is what the Chyna dealers put as their brand for Vacheron super clones.

I get the draw of a Sub and GMT, there's really not a more pure, clean diver/gmt watch out there. But damn, the games to play are depressing for a steel watch though.

As far as chrono's go, a Speedmaster pro or Zenith El Pinero holds up just as well as a Daytona from historical and craftmanship standpoint.

Grand Seiko also makes some incredible watches, both appearance and mechanically.

But I get it, the draw to Rolex is real and hard to deny. Not only is the marketing incredible but holding a Sub or GMT hand is really a site to behold.

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Comparing it to the brand recognition of a Coca Cola or Nike or something is laughable. And that dude up there said “it’s not even close”

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Huh, wasn’t aware that comparison had been made……but if you were going to make that argument……I think it would still hold water. I bet everybody you ask “what is a Rolex” will know it’s a watch……ask them what a Glashute, Omega, Longines, Tudor is and it’s gonna be mixed. Idk……stupid argument.

I just like the racing heritage, and that they continue to sponsor a sport I enjoy.