Rolex, a good investment? AKA the waiting list thread

unkel · 12-01-2019 12:45pm #1

Thought I'd start a new thread on this as I don't want to send other recent threads off topic

I've never owned a Rolex. Didn't have much time for them until recently. But somehow I completely turned around

Now I believe for the more popular models, you can not buy them just like that from any of the authorised dealers. You will have to go on a waiting list.

How does this process work? Any experiences you can share with us?

I've specifically fallen for the 126660 (Sea-Dweller Deepsea D-blue dial). The retail here is €11,850 and £9,700 in the UK (at today's rates €10,865). I've just sent off an email to Lunn's in Belfast to enquire

These watches seem to be worth more second hand than these new prices even after 2 or 3 years

I've some money in a savings account, that is making me not much more than 1% after DIRT. If I bought this watch I would specify it on my house insurance, so I would be covered against loss or theft. I'll probably keep it, but to justify buying it to myself, it would be a good investment right?

unkel · 12-01-2019 1:02pm

Lunn's have confirmed that they have closed the waiting list for the 126660

emo72 · 12-01-2019 1:32pm

Making you work that hard just for the privilege of buying a watch? There's too many great alternatives without the hassle. But they sure are popular. Life's too short.

2shea · 12-01-2019 2:53pm

emo72 wrote: »

Making you work that hard just for the privilege of buying a watch? There's too many great alternatives without the hassle. But they sure are popular. Life's too short.

I said to the guy in Lunns that the whole waiting list thing was a bit OTT for a watch as he brought out a form for me to fill out for the "waiting list" (For an explorer 214270) He got annoyed, it was like I insulted his mother.

He then said we recomend people go there nearest AD which would Weirs. I told him that wouldn't make sense as it was much cheaper there because of the exchange rate. He liked that even less haha.

Still have not heard from them and that was at the end of august. Iv got one since.

But to answer your question. No I don't think a watch is a good investment on terms of making money.

I think they would be worn, enjoyed and handed down to the next generation, in that regard it's a great investment.

2shea · 12-01-2019 2:59pm

unkel wrote: »

Thought I'd start a new thread on this as I don't want to send other recent threads off topic

I've never owned a Rolex. Didn't have much time for them until recently. But somehow I completely turned around

Now I believe for the more popular models, you can not buy them just like that from any of the authorised dealers. You will have to go on a waiting list.

How does this process work? Any experiences you can share with us?

I've specifically fallen for the 126660 (Sea-Dweller Deepsea D-blue dial). The retail here is €11,850 and £9,700 in the UK (at today's rates €10,865). I've just sent off an email to Lunn's in Belfast to enquire

These watches seem to be worth more second hand than these new prices even after 2 or 3 years

I've some money in a savings account, that is making me not much more than 1% after DIRT. If I bought this watch I would specify it on my house insurance, so I would be covered against loss or theft. I'll probably keep it, but to justify buying it to myself, it would be a good investment right?

I asked to be put on the waiting list for the explorer 214270 which isn't even that popular back in March 2018 they emailed me out a form which I filled out and returned. I called into the store in Victoria Square then at the end of August and there was no record of me on the waiting list, I had to fill one out again. So if you are serious about it you'll be better off to call in.

btkm8unsl0w5r4 · 12-01-2019 3:07pm

See thing is thats not a 10 grand watch, its a 15 grand watch, that Rolex happen to sell for a discount. The waiting list is not for the watch, its for the discount. You can hop on Chrono24 or watchfinders and have one tomorrow for 15k, supply is not limited, anyone can get one just not with the discount.

TBH this close to brexit you would be mad to buy anything, sterling is going to tank and its not fully priced in yet. You may also have a lot more slightly distressed private sellers too willing to liquidate for much closer to retail on the SS sports.

Edit...here is on on Chrono for 12k euro https://www.chrono24.com/rolex/sea-dweller-deepsea-d-blue-2018--id9925485.htm 2018

893bet · 12-01-2019 3:22pm

You won’t be able to buy the indemand watches that have the best chance of appreciating. The ones you will be able to buy are unlikely to appreciate enough to keep pace with inflation while accounting for maintenance costs.

Buy second hand if you can, let someone else take the depreciation hit if it exists and have an asset you can enjoy that will hopefully hold its value reasonably well.

2shea · 12-01-2019 3:27pm

Rhys Helpful Radial wrote: »

See thing is thats not a 10 grand watch, its a 15 grand watch, that Rolex happen to sell for a discount. The waiting list is not for the watch, its for the discount. You can hop on Chrono24 or watchfinders and have one tomorrow for 15k, supply is not limited, anyone can get one just not with the discount.

TBH this close to brexit you would be mad to buy anything, sterling is going to tank and its not fully priced in yet. You may also have a lot more slightly distressed private sellers too willing to liquidate for much closer to retail on the SS sports.

Edit...here is on on Chrono for 12k euro https://www.chrono24.com/rolex/sea-dweller-deepsea-d-blue-2018--id9925485.htm 2018

There's always the chance sterling won't tank and might actually increase

btkm8unsl0w5r4 · 12-01-2019 3:41pm

2shea wrote: »

There's always the chance sterling won't tank and might actually increase

The cost to buy the option in sterling after brexit would suggest otherwise but you never know, like all things brexit there is a huge question mark, but its a brave man thinks it will be anything but economically bad for the UK especially in the short term, although the dollar is not doing great so that may take the sting out of it. GBP is already at 5 year lows so you have to wonder how much lower it can go? Markets tend not to take optimistic views.

Totally agree that second hand is the way to go with Rolex, but not the ones that go over retail. As and investment watches suck.

2shea · 12-01-2019 3:50pm

Rhys Helpful Radial wrote: »

The cost to buy the option in sterling after brexit would suggest otherwise but you never know, like all things brexit there is a huge question mark, but its a brave man thinks it will be anything but economically bad for the UK especially in the short term, although the dollar is not doing great so that may take the sting out of it. GBP is already at 5 year lows so you have to wonder how much lower it can go? Markets tend not to take optimistic views.

Totally agree that second hand is the way to go with Rolex, but not the ones that go over retail. As and investment watches suck.

100% There is much better ways to invest your money. But telling yourself that it is a good investment softens the blow if dropping 6k plus on a watch

shutup · 12-01-2019 6:06pm

I’m sure this has come up here before so apologies.
My friend got a Rolex but says he should have waited until he was flying outside EU as he could have got 25% off on duty free.
Anyone know if this works? Are the ADs in airports or do you get a non resident refund when flying home?
Of course Im not advocating tax avoidance! I would declare it on return to Dublin airport.

Eoin · 13-01-2019 2:47am

unkel wrote: »

Now I believe for the more popular models, you can not buy them just like that from any of the authorised dealers. You will have to go on a waiting list.

How does this process work? Any experiences you can share with us?

Yep, I called into Weirs and asked about a sub - looking at their display, they didn't have many models in stock - no sports ones that I could see.

I checked with Lunns (I think), and was told something along the lines of there being a list to get on the list. Weirs didn't mention a list at all - I may have looked a bit scruffy or something on the day and they didn't think I was a serious buyer. I was abroad a few times since then (EU and US) and happened to pass a few ADs, and nothing there either.

I've said it a few times here, but it's only a few years since there were second hands SubCs going for around the 4K sterling mark, and Weirs had plenty on hand. It's gone mental.

If you're not on tz-uk, then sign-up, serve your time and get access to the sales forum. If you're prepared to jump on a plane at short notice, you might get a decent deal if you're not married to the idea of a brand new one.

AmberGold · 13-01-2019 1:24pm

Try Hartmann’s, I got my BLNR from them. Every time I pass through Heathrow / CDG I check the Rolex stores and they never have a SS sports model never mind a BLNR. There’s a pleasure in that alone.

For me it’s not an investment however it’s one of the only things I have ever purchased (including property, got seriously flamed on this one) that’s held its value.

unkel · 13-01-2019 1:30pm

Eoin wrote: »

If you're not on tz-uk, then sign-up, serve your time and get access to the sales forum. If you're prepared to jump on a plane at short notice, you might get a decent deal if you're not married to the idea of a brand new one.

I've no problem with any of that at all, in fact I'm a bit of an opportunist in general, almost always ready to do a good deal at short notice when I see one and willing to go to some effort to do it

That said, I like the idea of buying new from an AD and avail of the "discount" as fitzgeme interestingly calls it. I would more than likely keep the watch, but this buffer would cover me for some wear and tear and also should I change my mind or if I would be forced through circumstance to sell up.

So not quite an investment that will actually make me money, but more a safeguard that whatever happens, I won't lose money on it either. I guess that's the only way I could justify a purchase like this to myself (and there will be questions asked from herself too

)

I've never even spent a 4 figure sum on a watch. And here we are talking a 5 figure sum!

Eoin · 13-01-2019 1:49pm

The cheapest DSSD I’ve seen was probably still 8k, and that came without box and papers, and looked pretty tired.

They are a big lump of a watch - and as I said in the other thread, I disagree that the standard subs wear small. Maybe it’s just that my tastes have changed but I was always one for chunkier watches, but I think the sub is a good size and I am not the skinniest. It wears bigger than a bond seamaster which I think is slightly wider.

If you can’t try a DSSD on in person, maybe think about spending a few hundred on a steinhart ocean 44 as the dimensions are probably very similar, and see how you get on with it over a few months.

unkel · 13-01-2019 1:59pm

I think I've gone the opposite direction a bit, Eoin. My Steinhart Ocean One vintage 41 and my Seamaster 300 41 look at touch small on me now. The Turtle PADI is 44-45mm (depending who you believe) and it is just right in size and weight. The 126660 is about the same. I'd love to try it on, but I'd say it's just right for me. I have small wrists, but I am a bit under 6'2 and my weight is about 100kg. Not a small or skinny man

fulladapipes · 14-01-2019 11:30am

I've bought a few Rolexes over the years: a Submariner date; a Datejust II; an Explorer and an Oyster Perpetual 39mm in black. I only bought one of them from a main dealer here in Dublin. I can't say I enjoyed the experience - they're all over you until you hand over the cash and then when there's an issue (bezel misaligned on the Sub, for example), they weren't so friendly at all.

Instead, I've bought my watches online from what I think are called grey dealers. Same new watch, same warranty, about €1,000 saving per watch, and they seem to have no problem getting you whatever watch you want, i.e. no waiting lists. The last time I was looking for a watch, I called Lunns and they explained to me that they don't even know in advance what Rolex are going to send them each month, so it is luck of the draw whether the watch you are waiting for even comes in.

Buying a watch from an online dealer isn't for everybody. I went out and visited the 'office'/apartments of both dealers and sussed them out for myself (on Chrono24 as WatchLounge in Germany, and Watchesnorte in Spain [this guy a a former engineer who spent five years living in Galway]). I can't see myself ever doing the main dealer thing again.

Rolex, a good investment? AKA the waiting list thread

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