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Why getting your hands on a Rolex sports watch is as good as striking a lottery

Why getting your hands on a Rolex sports watch is as good as striking a lottery

Today, 1 September 2020, Rolex introduced a series of new watches which was highly anticipated all around the world. Watch magazines like Hodinkee, Revolution, Worn & Wound, were the first to cover this series and I’m sure this brought a lot of joy to watch enthusiasts like myself.

revolution

Source: Revolution.Watch. Ain’t this a joy to look at?

One of the most anticipated launch was the new Rolex Submariner Date in 41mm. Of which there are 7 variations of them! The new 41mm size should feel smaller, slimmer and even more elegant than its predecessor.

rolex 1

rolex 2

Source: Rolex. Selected new models shown only.

For me, the green bezel Submariner would definitely be the most appealing. For those who are trying to get their hands on a Submariner from a local authorised dealer, the chances are extremely slim. Rolex has already abolished the waiting list and prices are increasing almost every other month.

For example in June, I chanced upon a brand new 2017 Rolex Submariner 116610LV (aka “Hulk”) on the secondary market selling for SGD $20,500 with all accessories including receipt. At that point of time, the price was already high by my standards and I hesitated to purchase it. Shortly after it was sold and two months later, people are selling it for SGD $24,000-$26,000. Talk about having having the guts and courage to make a decision at that point in time.

In this article, you can see how prices of watches are irrational and it does not follow a fix pattern. I also wrote how luxury timepieces can be a great investment here.

Hence, being able to get your hands on a Submariner or a GMT Master at retail price is as good as striking a lottery!

Take a look at the retail price of a Rolex “Pepsi” – it is SGD $12,980.

IMG_2708

Source: Rolex

Now take a look at the price of a Rolex “Pepsi” from one of a reseller, Chuan Watch. It retails for a whooping SGD $26,950! That is an increase of 207%

rolex 3

Source: Chuan Watch

However, it is not so simple as walking into the shop, showing them you have a pile of cash to get hold of the watch. It requires years of building up a relationship, and you probably have to buy a ton of watches from your local authorised dealer before they even think of you. Even so, the most sought after watches are probably reserved for their VVIPs!

That said, you shouldn’t give up just yet. I for sure, have been trying to build relationships and expand my network of contacts within the watch space, hopefully one day I will be able to buy a Rolex sports watch at retail price.

The key here to visit lots of Rolex boutiques and local authorised dealers and show them that you are sincere in watch collecting. Most who know that you are there to make a quick buck will probably shut you off.

But if you are lucky to get hold of it my friend, you would have struck a lottery in your life.

Other things which I feel is equals to striking a lottery includes:

  • Balloting for a Dakota (Geylang) HDB flat in Singapore

dakota

Source: The Straits Times

  • Getting a Hermès Birkin Bag at retail price (read this)

hermes

Source: TheRealReal.com

Hopefully everyone who reads this experience one thing in their life that equates to striking a lottery!

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Warmest regards,

Finance and Toast



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