Stunning Concepts
If you are a watch enthusiast, especially Rolex, you may have come across the word waiting list. You may also ask numerous questions about the Rolex waiting list and whether it exists.
What is a Rolex Waiting List?
Rolex, however, doesn’t use the term waiting list; instead, refer it to the allocation of watches. According to the company notes, Rolex watches are exclusively available at Rolex official retailers that manage the distribution of watches independently to the customers.
It further explains the waiting list as not being an actual waiting list we are familiar with where one person follows the other person and moves up the list when they purchase their watches. But the Rolex watches are presented to customers who purchase other stuff that is hard to shift, like high-margin jewelry or ladies’ watches from an authorized retailer.
Waiting list is an arbitrary order in which authorized Rolex dealers rank their clients to get new Rolex watches that become available in their stores. This is thrilling to Rolex dealers as they sell their Rolex inventory before they get to the store. However, they have an overwhelming task of managing their consumers’ expectations willing to spend thousands of dollars on Rolex products they need.
How the Rolex Waiting List Works
It all starts with a typical call or visit to a Rolex retailer. A professional and polite retail assistant will answer, “I am afraid that the model waiting list is around five years due to its high demand or short supply of its substitute model.” But how does the situation come to be? What tampered with this Rolex model distribution leading to the whole waiting list issue, and how can you avoid it?
To know the answer to these questions, you must understand the whole sector’s distribution system.
Market Overview of Rolex’s High-end Watches
Watches are one of the unusual businesses to operate, and its manufacturing companies have always been tightly-lipped. This makes it difficult to extract its production and sale data, but more research is needed to understand how the current watch market operates and the connection between true and high-end luxury.
Among the high-end watch manufacturers is Rolex, which is pretty secretive about its data and annual production. But according to horology experts’ estimation, Rolex produces over one million watch units annually.
The Supply Chain: Monobrands and Boutiques
Finding statistics about the earnings and production of Rolex is difficult but not as figuring out its supply chain. All companies operate differently based on their geographical location and other bases.
The Rolex distribution system operates in two leading stores: the mono-brand store and the multi-brand store. Most of these stores are independently owned by entrepreneurs. At the same time, some, like the mono-brand retailers, have gained massive growth in Rolex’s major markets, and the company owns them directly or through a joint venture between Rolex and an reputable retailer.
Rolex enthusiasts and customers, however, don’t know how strict the Rolex distribution model is. The retailers can’t purchase all Rolex models in the quantities they want. When they want a specific watch reference, they have to purchase a package with specific preferences and others that are less needed and hard to sell to their customers.
For example, when you want Rolex Submariner Hulk made of steel in your shop, you have to purchase more steel/gold preferences that are less appreciated in the market. As a result, as a retailer, you will sell the steel Hulk and be left with three or more models that are hard to place and less needed by customers.
A luxury item’s average markup by a store is around one hundred percent as retailers sell them at double the purchasing price. Considering this, it is easy to know the inference of selling these watch models and why the Rolex waiting list exists.
- Some model references are limited as store owners find it hard selling the other package members. They often place other watches first and then the crown jewel, which was why you bought the package, and it ends up going by itself.
- It’s hard for casual buyers to get into a watch shop and purchase a sought-after watch in no time. Retailers value their long-term and loyal customers, and when they stock a specific watch, they will be contacted first on whether they need one.
- Most stores practice up-selling to dispose off the less needed watch members of the package. If you desire a particular brand, they may offer you a great deal on these fewer pieces required as you are on the long-term waiting list for that specific watch you want. You might end up accepting the offers, which means you are not highly placed on the value chain of the store. However, it’s upon you to decide whether to accept more options to get your Rolex now and not be on the Rolex waiting list for years.
- Rolex monitors their watches’ serial numbers and buyers. When a store sells a particular model at a profit, the company notices, and the buyer is unlikely to get another Rolex at the list price, and if there is any Rolex list, it will be a Rolex blacklist.
What Does that Mean?
As stated above, it is peculiar for a Rolex enthusiast to get a sought-after and simple even after being on the Rolex waiting list for years. It will be hard for you to go around the store daily to check who is purchasing what.
Additionally, Rolex has a five percent increase annually on its price lists. With this, you may change your mind and purchase the one you want at a premium or get a different watch reference instead of being on the waiting list for five years and paying a price list that has escalated by over thirty percent.
If you are a watch fanatic or knowledgeable about the watch market, you may notice that the price of the most prized watch models tends to be higher in the second-wrist market while the less wanted ones retain their value.
How Long Can You Be on the Rolex Waiting List?
Due to Rolex’s lack of supply, you may be on the Rolex waiting list for two to four years or longer. During the waitlist, Rolex will increase its price list time and again, and by the time your desired watch is available in the market, you will purchase it at the current market price. You must also establish a purchase history and relationship with an authorized Rolex dealer during that time.
Ways to Beat the Rolex Waiting List
- Dress decently when visiting a Rolex authorized store
- Wear a Rolex watch when visiting an authorized Rolex dealer
- Be friendly and personable with the Rolex dealer
- Have some knowledge about Rolex
- Show your seriousness to the Rolex authorized dealer
- Visit the Rolex dealer regularly
- Don’t change the Rolex model you want often
- Establish a purchase history with the authorized Rolex dealer
Establish a genuine relationship with the authorized Rolex dealer
Why it’s Hard to Get a Rolex
Like any other high-end and luxurious watch, Rolex is mass-produced, with approximately one million pieces annually. This means there are multiple second-hand watches on the market.
There has been a high demand for watch supply in the market recently, which has led to a shortage of Rolex watch models no matter how many are produced.