Some miserable trade practice

In Hong Kong there are a few ways to sell your watch, fb, IG, and Carousell is the most common platform for Rolex.  Over the years, we have encountered certain unpleasant watch trades incidents, sometime it was really frustrated and or disappointed. 

Usually we can found these common incidents as real life of watch trade in Hong Kong, don’t know this also could happen in your countries?

They will ask you going RSC for authentication even you are selling your brand new watch just purchased yesterday. RSC does watch authentication and at same time check if the watch was stolen or not.

They ask you to bring cash and input to the ETC machine on his account such as to verify if your money is not counterfeits.

They used to ask a lot of questions such as where did you get the watch from, do you have purchase involve, why the warranty papers was lost!

They used to ask a crazy discount, as I had a Rolex listed HK$200,000, the buyer asked me if I can sell him at $100,000!

We are forced to mark up on the actual price of the watch because they will ask discount and after a while ask discount again.

Someone asks you if you have a shop, if not they don’t buy!

Don’t think they come out to check your watch will likely buy if, some of them just want to kill time. Usual phase to say not buying “Sorry I changed my mind”, “ Oh I just bought it yesterday”,” My wife stops me buying again.” “No, out of my budget”, “ I’d better watch for next year to consider new Rolex design”.  The worst is, they ask you a lot of pictures via whatsapp, and after you have sent them the picture… they may just keep quiet, not even bother to send you a word “thank you!”

Of course I am picking up the worst cases here, there are a lot of good people who are really want to buy from you with sincerity.

Remarks

Customer is King, why does King ask for discount?

HK Snob

Rolex selling price up this two weeks

With the recent relief of COVID-19 in Asia, Europe, the demand of mask was becoming less, three months ago France government had ordered certain face mask that can be reused 30 times made by some of the  luxury goods company turned out to have 20 millions masks as surplus now. They urged French Government for assistance promoting and finding buyers for those unsold output of the industry's national effort.

Whereas for the Rolex watches, that was having a slow sales in Hong Kong in February to May as there is almost no tourists were coming to Hong Kong for shopping including those Chinese Visitors who are having huge buyer power on luxury watches. By then the price of Rolex market price has dropped down to a lowest level, say for example Rolex Daytona Ceramic 116500 White was $195,000 in May 2019, and it was $179,000 hitting the lowest price in May 2020, but we can see that price has been up again to $183,000 these two weeks.

Pepsi 126710BLRO was $140,000 May 2019, and it was going down to lowest $125,000 but now it climbs up to a price of $130,000.

Market price here means trading price between dealer and dealers, dealer to end users and Rolex AD selling to his end users.

MSRP is no way to get unless you are special VIP which in fact how much you have already spent in the shop  is a known to be huge before you can be a VIP customer.

So what is best to do either you buy it now before the price go up again after lock down is lifted, as after the lock down, price will be step up with another level unless there is another economic turmoil.

HK Snob
Dollars shown here is in HKD.

Rolex Watch price has just been up in the last week

There was an sudden price up in the week, I think it is mainly due the dealer is seeing the end of the tunnel Rolex supplies is getting scarce.

if you need to buy, you got to buy. And if you don't buy, the limited stock would push the price up.

These are the price update on Rolex market in Hong Kong, all price is in HKD.

Daytona 116500 White was $180,000, now $182,000

Submariner 116610LN was $85000, now $87,000

Explorer II White 217670 was $64,700, now $66,700

Sea Dweller 126600 was $100,000, now $104,000

Submariner Hulk 116610LV was $113,000, now $115,000

Deep Sea Sea Dweller 126660 Dblue was $103,000, now $105,000

GMT Master II 126710BLRO was $128,000, now $129,000

GMT Master II Batgirl was $102,000, $104,000

These are the dealer price trade between dealers, and price for certain AD shops.

Note that only certain small number of SVIP could get MSRP on Rolex.

Those who wants to get at MSRP might be needed to put your name there waiting.

Price is estimated only as it keeps on changing, the trend is going up!

HK Snob