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Well, now that it's confirmed as having happened and been published on the site, it seems that
A. This thread could be ended forthwith.
B. The "Rolex price increase December 1" thread should be started.
Still i think if i was a tourist i will still buy in U.K. still cheaper than anywhere else.
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Well, now that it's confirmed as having happened and been published on the site, it seems that
A. This thread could be ended forthwith.
B. The "Rolex price increase December 1" thread should be started.
Any dealer who does not review his prices to reflect a changed market is hardly showing commercial sense. If any members of tz-uk think that adjusting prices in the light of a price rise is some sort of dirty trick, their enjoyment of luxury products in a capitalist society will perhaps be a likely source of on-going distress.
A number of high profile dealers factored in price rises long ago, such was the certainty of their advent.
It is hard to wear the hat of forum member and dealer at the same time, but I think this criticism on repricing is unwarranted.
Haywood
With the weak pound and a VAT refund on exiting the U.K. (for non EU passengers), U.K. prices are still bargain basement. Even on a comparable basis without a VAT refund, U.K. prices remain a fair bit cheaper than Europe and the US. Absolute parity would be nigh on impossible to achieve on an on going basis, but there's a gulf between prices in different regions at the moment.Originally Posted by Mick P
I don't profess to know anything about Rolex and their price increase policies, but it probably isn't beyond the realms of possibility that we will see another rise follow in fairly rapid succession. Or maybe they'll sit it out and see if the pound tanks further, or see if it shows signs of recovery in the short to medium term.
Totally agree Haywood.
I think it will be nice to keep this thread open for a little while longer even if it is for nothing else but posting updates / reports on stock levels post-increase, etc.
- - - Updated - - -
More than fair point! In agreement with you.
Wrong thread, but worth noting (somewhere) that Seiko/Grand Seiko, have held prices steady. Maybe Rolex and the European brands suffer more from currency fluctuations.
My Rolex went up,by about £1300 (Cellini),which is an awful lot of extra money. A big hit.
It's hard to believe that anyone on here can't see the sense in this.
Any ideas if tudor are going to alter their prices? Rolex "company" but operates independently?
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They really are indie, no price rise today.
This thread must be slightly painful for all those who (in the face of all previous evidence) contend that "no one ever knows a price rise is coming, whatever they say."
Again.
Perhaps when it's happened seven or eight times they will begin to doubt themselves.
Does it get to a point where you dare not sell a rolex to try something else for fear of not being able to get back on the ladder as it were ? I think if i sold my gmtc I couldn't afford another at a later date.
i have a problem in that i have reluctantly decided to sell my 2 month old Deepsea Black (new from AD and pristine) as i need to raise some funds quickly and whatever price i ask i am sure it will cause an issue being so soon after a price increase, i was going to sell last week but waited for obvious reasons, now i have a pricing issue to resolve
I was thinking about this today too. With the SDc, Daytona and DSSD all close to £10k they're becoming very expensive trinkets. Certainly too expensive for me to use while diving and get bashed about against boats/cylinders etc. As of right now I'm not in a position to add another Rolex to my collection and probably won't in the future.
So "I'm oot" as they say.
It depends on when you started counting.
June 2011 - Oct 2016 = 0% per annum
June 2011 - Nov 2016 = 2% per annum
Apr 2011 - Nov 2016 = 5% per annum
A 116610LN was £4,900 is Apr 2011. It's now £6,250. I wish my salary was keeping up at that pace (28% increase over 5 years)
No one, as far as I know, knew before Thursday. Clearly there has to be some level of notice and 4-5 days is as much notice as there has been since I started following things in 2008.
There was more notice before the European rise early this year. Maybe rolex gave more notice. Maybe someone from rolex leaked it. I don't know why there was more notice.
Obviously, I'm not questioning your vast industry knowledge and connections, Mr Milton. However, even 'my AD' told me on Thursday that prices were going up on Tuesday. He didn't send me a full price list and neither did I ask. But knowing about a price rise when agents are told is hardly knowing insider info. If you knew, from a rolex source, that prices were definitely going up on Tuesday in advance of the agents finding out on Thursday, then kudos to you.
Again, I'm not questioning your knowledge. If we knew what you'd forgotten about all this, I'm sure we would know a lot.
Sell it for the market rate. Nice watch. I hope you don't regret selling it
List it at a fair price and I am sure that it would sell quickly.
Good luck.
So do dealers now increase the price of pre owned stock that they have bought and make even more profit.
Just asking.
To clarify I mean second hand dealers
Last edited by mjc1216; 1st November 2016 at 20:08.
I would imagine that they will raise the prices accordingly, in line with supply and demand.
Simple answer..... Yes
Yes, obviously, as there's been a shift in the market.
I have noticed that you are one of the few dealers who kept your prices steady so far.
Can we read from this statement that you'll be raising your prices into line with where other dealers are currently?
I've had my eye on that "Swiss" dial SD, should I be making my mind up quickly or am I too late already?
Edit: too late, it's sold!
Last edited by Dave+63; 1st November 2016 at 20:45.
Additionally, have you treated yourself to calculating how much your private collection increased in value overnight?
I got an email from Xupes to trumpet the fact that they were very generously holding their 2nd hand Rolex pieces at the pre-increase prices for 24 hours!
There is no real issue to resolve.
Whatever the 2nd hand dealers put theirs up by it would be fair to do the same with yours as long as you realise you will still need to be the same price margin under whatever they sell theirs at.
eg. if you were going to sell it for £500 under their price beforehand as long as you are still £500 under after repricing then I don't think anyone can argue.
If they do quote Haywoods piece about capitalist trinkets.
As Haywood mentioned above they might. Not necessarily to make a quick profit though. They might be factoring in the cost of the replacement which will also be going up.
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No sudden post price rise appearance of ss sports models on display at Harrods or WOS nearby today-still hardly any stock with big gaps in the display cases esp in Harrods.
A simpler explanation to this than you might think! While it may have been imagined that I have been spinning these threads from the nerve centre of M----- towers, I have in fact been a long way away, on family vacation. My return will see me quickly on the case with price reviews.
As for the SD, I believe it went to another tz member almost on a whim!
FWIW I don't imagine I'll change many or any of my secondhand prices straight away, as I like to lag a little behind the "market-makers." The unworns are different and having now committed some £500k in the last few days I need to make sure that investment pays in every way possible. Since I've had to pay more for some watches than I had identical ones listed at on my own website (a real head twister), the existing stock is really screaming for adjustment.
H
Good luck and all the best.
I agree - I understand that in some cases ie loyal regulars it makes sense to sell stock at the old price when it has increased (we do just this with our stock) but the reality of the situation (putting aside capitalism), is the stock has a market value and it needs to be sold at that. If list prices decrease the stock's market value goes down, so it isn't a one way street, although I admit with watch prices it does look more like this than with other goods. We are very used to price changes (up & down) as in addition to manufacturer driven price changes, because all our purchases are made in USD we are constantly re-pricing as the UKP & EUR move vs USD.
Does anyone have a new price list the can publish on this thread? Thanks in advance.
What do people think the impact of the price rise will have on the second hand market. Will this follow suit and rise by 10%?
Yes of course, it's only natural that used prices will increase.
It's a massive document containing all the dial and bracelet permutations, not appropriate for reproduction and certainly not by anyone who wants to stay friends with Rolex UK. You may of course use www.rolex.com to establish the price of an individual watch, or post the model reference here with bracelet and dial choice. Some helpful soul will usually oblige. I've heard that Rolex agents generally come to tz-uk first for info ;-)
Haywood
Rolex themselves only decided to do the price rise after reading your post saying there would be one!
Prices will follow to some extent and certainly for popular models, but there are a couple of interesting questions....
Prices have increased significantly over the last few months for secondhand models in anticipation of a price rise and not much stock. Are they already at that premium or will they go up more?
Less popular models may go up but will that make them even less popular? Do they go up 10% of their value (maybe £300 on a £3k watch) or 10% of the new value, somewhere in between or not at all?
The Rolex shop in Chichester still had watches in the window at the old prices at lunchtime today, Wednesday.
Fair point! I live in gibraltar so the website won't give me the uk prices. It's a 116200 on oyster that I was looking at, as well as a 118238 on a president. Cheers
Ha! Great comment! And who knows, could well be true....
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Interesting Marcel and I hope you're well?
I have a couple of "WTB's" out there currently and one TZ member has "kindly" offered me a 7 year old S/S Professional Rolex for £5,000 this week - but that is a £4,000 (approx) value watch to any astute buyer/seller irrespective of Rolex UK pricing for new product increasing this week.
Let me think about that for a bit.....er, no thank you!
IMO prices (real, transacted ones, not hype..) won't move much for used Rolex at the moment aside from the super high demand models that we've seen increases for this past year - Daytona Ceramic/BLNR etc
They have not had them in their window for quite a few weeks now (as far as I am aware) but I noticed today that my local Rolex AD now has a Sub, SDc and Air King on display now at the new prices....hmmmMmmm, we might miraculously see a few more SS sports Rolex appear in shop windows today then.
FINALLY, SHE HAS ARRIVED!
Just dance those tanned little fingers all the way to post #191 where I have covered these two specifically already....
Haywood
As the old saying goes, " you snooze, you lose!"
Unfortunately I've been struggling to keep my eyes open lately!
Thank you Sir
As far as used Rolex prices go it always is a matter of supply and demand I guess. People will probably try to sell used ones factoring in the 10% increase. If others decide to buy them it is up to them!
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The AD in Reykjavik have a LV Sub in the window today which works out as £8200 given the current exchange rate so the UK is still considerably cheaper than some of its neighbours.
Passed by Fraser Hart in Kingston today, the Rolex delay looked like they'd been victim of a ram raid.
The only sports Rolexes were a couple of Yachtmasters
Well, I'm more than a bit p***ed off tonight. I'd been emailing a local AD who had a white Explorer II. It's a 2005, registered the day after my son's birthday. I hesitated.. and it disappeared off their website about 4 weeks ago. I assumed it to be sold.
Today, the same watch, same sales reference ID, is back on their website with an extra £600 on the tag!
That'll teach me for hesitating.
If he knows you know that the previous price was lower then it will put you in a better position to negotiate the price down. You know that he has the margin to reduce it down to what you saw before and he knows you know that.
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