There are definite signs of recovery in the luxury watch market.
Far from retailers struggling to sell stock, in a surprise report by prowatch.com, Rolex retailers or Authorized Dealers at least, are holding back stock due to high demand.
This is not restricted to the USA as British retailers are fearful of undersupply of Rolex’s steel sport watches. Reported UK sales are up 25% following a record sales over 2017 and 2018 period.
In a surprise move, Rolex has begun issuing smaller display cabinets to disguise the fact there are fewer watches on display, according to retail analyst NPD.
Reginald Brack, executive director at NPD is quoted as having said;
“I am in Rolex ADs across the country all the time and it is the same story everywhere: the wall displays are empty. I was in two yesterday and, outside the New York area, the displays are empty. Rolex has been shipping trays with fewer cavities in them so that they can display less product,”.
It hasn’t stopped there. Staff working for Rolex authorized retails are having to be retrained in the subtle art of letting frustrated customers down carefully to avoid unnecessary distress.
This run on the Roles bank seems to be in spite of the brand upping its price points by 20 % in March, but at least this has given dealers some warning of the oncoming storm.
Brack adds “Many of the Rolex ADs have been hoarding inventory since summer in preparation for the holiday season. They have been hoarding the sports watches, not putting them on display, because they want their best customers to be able to buy the watches they want,”
What does it mean?
Good news for the industry, bad news for many customers who can’t get hold of their preferred brand. And, of course double the good news for those that do get hold of their new Rolex which has to become so much more ‘Exclusive’.
We can only wait and see if this trend continues across other ‘top of the tree’ brand names. And for those interested in the grey market for discounted brands, there is clearly potential for this side of the industry to grow.
So, if you’re looking for the perfect Watch at the perfect price, from a trusted source, you know it can be a stressful experience, with the right help and advice, you too can find your dream timepiece. As I’m considered an expert in my field and I write for other publications like Wrist Review I know you’ll benefit from my experience and avoid the pitfalls.
If you are considering buying online you may be interested in reading the “How to choose a watch for your wrist size” article here.
Did you like this post? If you did, please share or like it so others know about it. If you don’t like it please tell me why. I’d love to know what you think.