Why buy gray market? - newbie intro with ???

[RolexAwaytheDew]

Hello!

I am a newbie here. I have owned three Rolex watches over the years and currently own only my first (1988 SS Date). I have also owned three Panerai watches (currently own a Luminor PAM 00176 and a Luminor Due PAM 00936).

I am now looking to buy a Rolex or two and probably move on from one of the Panerai watches. I would like a GMT “root beer” for special occasions and then maybe a no-date submariner for everyday wear. I would eventually pass these along to my son.

I am trying to wrap my head around the idea of paying a premium of 25+% or more for a pre-owned Rolex, possibly out of warranty, when it appears that I can potentially purchase a brand new watch in the next 3-6 months. I have been reading, studying, and watching videos for the last month or so, and I know the market is dynamic, with possible softening compared to the pandemic peaks.

I have a long-standing relationship with an AD jeweler dating back to an engagement ring purchase almost 30 years ago, numerous jewelry purchases of various kinds for my wife, including a 2 or 3 in the $10-20k range, and a total of 4 non-Rolex watches (2 Panerai’s and 2 Cartier’s), over the years.

Based on the above, would it be reasonable to expect to have an opportunity to buy the GMT CHNR in the next 3-6 months? And then, perhaps the no date sub in another year or so?

Thanks for taking the time to read my newbie post.

[Driver8]

Welcome aboard.

Many variables in terms of the amount of time it will take to get a watch you want from an AD. If you have a long standing relationship with an AD, then that will definitely be in your favour. That said, most AD's have their own rules/processes when it comes to allocating Rolexes: some operate on a "buying history"/existing relationship basis, while others are bit more "first come first served" in terms of their wait list. The best way to gauge how long your wait will likely be is to simply ask your AD.

Likewise there are numerous reasons why some will choose grey/pre-owned over an AD. Some value "time on the wrist" over "time on the wait list". The grey/pre-owned route gives you an immediacy of ownership that ADs, 99 times out of 100, cannot give these days. Secondly, some people have no prior relationship with their local AD and they don't want to play games by being "encouraged" to buy other pieces they don't want just to get a chance at the watch they DO want. In some instances people will have spent far more buying stuff they don't want, than the extra they would've spent if they'd just gone grey/pre-owned immediately. Lastly some people are only interested in discontinued models, so pre-owned is the only way to go.

[joli160]

Just talk to your AD. On his reaction you will see what he thinks.
The CHNR is a great choice

[Bazil]

Welcome …
6 months may be achievable but I doubt it, but you’ll never know till you ask ..
Good luck on your quest ..

[Duke10]

If you’re patient and don’t have to have them right now go AD. You should have the sub within 12 months max. Not sure about rootbeer but my guess is less than 2 years. For a few specific models gray is definitely the best option if you’re planning to keep/enjoy. If you’re playing the try and trade game don’t go gray unless you’re ok with losing a few thousand each transaction.


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[Joearch]

Talk w your AD. CHNR might be more accessible than you think. Nice place to restart w Rolex.

[brandrea]

Welcome

It’s the age old time vs. money conundrum I’m afraid….

I think you’ll eventually get both at an AD but no one knows how long it will take.

My advice, if this is not a life changing thing, save your money and wait it out.

[golfnpizza]

I'm in NY and having minimal history with AD its looking more and more likely I will not be receiving the call. Want to get a watch as a wedding gift and if it gets close enough to the wedding date and I don't receive the call, I plan on going gray.

Obviously will have to pay a premium but to have the watch I want for the occasion will be worth it in the long run. My plan is to use a reputable seller in NYC to be comfortable everything is authentic. Unfortunately this just seems to be the reality over here for someone in my position.

[ErichKeane]

In my case, I wanted two pretty desirable SS models (BLNR, Polar Explorer II), and my only purchase history was a single Longines. Its a Ben Bridge, so it only sells mall-jewelry, and I had no interest in the rest of their watches for sale.

Additionally, the salesman (who was great BTW), made it clear that I was likely a multi-year wait on either. SO, I went used (not grey).

I ended up getting the 216570 (which I preferred to the 226570 anyway) for less than MSRP, then a 116710BLNR (I had no real preference) for ~30% over MSRP.

In the end, I got both of the watches I wanted without having to spend a ton of money on either jewelry my wife wouldn't wear, or watches I wouldn't care to own, and I got them right away.

For a few thousand bucks, I got to own what i wanted, ASAP.

I did the same for my truck (Ford Lightning EV). I really wanted one, and was looking at ~2 years of it becoming available at MSRP, so I splurged and went over MSRP by quite a bit. But I got to spend the last ~2 years with exactly the truck I wanted, when I wanted it.

[luk4s83]

Here is my take - by buying grey we're "trying" to solve the problem (lack of availability at AD) but in fact by doing that we're creating it on the same time (lack of availability at AD). If we stop buying grey there would be no grey, and the availability at AD's would improve. All we need to do is stop feeding the scalpers.

[jackminny15]

To me it comes down to one word: patience. How patient are you? These models can be had, especially with your long relationship with your AD. That said, are you patient enough to wait, say, 6-12 months for the no-date Sub? If not, then you've figured out why the grey market continues to thrive.

I have cultivated a solid relationship with my SA the same way as you, making sure I buy the stuff I want for my wife from the same place. I don't "overbuy" or take stuff I don't want just to ascend the list, but I do like to buy my wife jewelry and that certainly helps. Seems like you've done the same, so you should be able to get the pieces you want at MSRP from your AD -- as long as you're willing to be patient.

[ArtNouveau]

Only you can decide what a watch is worth to you, to me no watch is worth more than the MSRP+tax I would pay at an AD. The only time I ever bought a “grey” Rolex was a DSSD when they first came out in 2008. A reseller in Florida had one for immediate delivery for less than MSRP, two local dealers I checked with had a short wait list.
I personally think your AD will be able to get you a CHNR within your desired wait limit.

[77T]

Yes, go with a secondary market seller.


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[thenewrick]

There are several grey vendors on here who support the site and are in turn supported.

Some people want to order something immediately and don't want to wait.

Some aren't liked by their AD's so they don't get any allocations.

I buy Grey for vintage only. Buying used, at a premium, for a currently produced model seems nuts to me. But that's the free market and I'm cool with it!

[Billyrolls]

This is going Grey/Pre-owned



This is going AD

[MRBolton]

I'd ask your local AD to be frank with you. I personally think it's realistic with your relationship to expect them to get you one of those two pieces in your timeframe. I'd drop by the store and remind them when you're in the area how you're still excited for the pieces, and any other purchases that you can reasonably make with them (i.e. jewelry for your wife), then I'd suggest to do that.

Neither are the hottest configuration of their respective models, so that improves your chances.

If they say it's unlikely and you can stomach the premium, then go ahead and go grey. You can keep your name registered at the AD and sell the one you bought grey. Just don't tell the AD you went grey and keep pushing them to get your pieces in ASAP.

Do note that the watch when buying grey will still come with whatever warranty is remaining with Rolex--the same as if you bought it from your local authorized dealer.

Finally, don't put your eggs all in one basket. Get your name down at as many ADs as you can. I bet one calls you eventually.

[Harry-57]

Originally Posted by RolexAwaytheDew

Based on the above, would it be reasonable to expect to have an opportunity to buy the GMT CHNR in the next 3-6 months? And then, perhaps the no date sub in another year or so?

The best person to ask is the AD. All the best with it.

[996marty]

Maybe you should ask your AD what your chances are and hopefully they can give you an honest opinion

[kopi-c]

Originally Posted by RolexAwaytheDew

Hello!

I am a newbie here. I have owned three Rolex watches over the years and currently own only my first (1988 SS Date). I have also owned three Panerai watches (currently own a Luminor PAM 00176 and a Luminor Due PAM 00936).

I am now looking to buy a Rolex or two and probably move on from one of the Panerai watches. I would like a GMT “root beer” for special occasions and then maybe a no-date submariner for everyday wear. I would eventually pass these along to my son.

I am trying to wrap my head around the idea of paying a premium of 25+% or more for a pre-owned Rolex, possibly out of warranty, when it appears that I can potentially purchase a brand new watch in the next 3-6 months. I have been reading, studying, and watching videos for the last month or so, and I know the market is dynamic, with possible softening compared to the pandemic peaks.

I have a long-standing relationship with an AD jeweler dating back to an engagement ring purchase almost 30 years ago, numerous jewelry purchases of various kinds for my wife, including a 2 or 3 in the $10-20k range, and a total of 4 non-Rolex watches (2 Panerai’s and 2 Cartier’s), over the years.

Based on the above, would it be reasonable to expect to have an opportunity to buy the GMT CHNR in the next 3-6 months? And then, perhaps the no date sub in another year or so?

Thanks for taking the time to read my newbie post.

Since you already have some purchase & spend history at the AD jeweler, I would ask them.

No reasons to buy from the flippers at MSRP + premium for the modern rolex watches still in production. Even the rolex CPO is ridiculous.

[Calatrava r]

Only this jewelry store can tell you what they can do for you. If it sounds promising I would just buy from them.

[JRell]

CHNR = AD purchase.

[Krash]

The only justification for buying gray—at least for me—is if you live in the middle of nowhere, like Montana, for example. And you just don’t have any AD within a reasonable driving distance from your house. Some folks on this forum have pointed out that they’re in that situation.


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[peptide45]

Originally Posted by Billyrolls

This is going Grey/Pre-owned



This is going AD

Couldn’t have said it better myself!! Quite the Sub collection!!


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[TheVision]

My personal experience. Just cast a bigger net at various ADs and see what happens.

I did this at 4 ADs in my 200 miles vicinity (I'm a field engineer so drive all over the place in NorCal). Out of the 4, one came thru with a 7 week wait and I picked up sub date. Was also offered rootbear gmt earlier this year which I declined.

Now going back to my same rep to be put on the batman waitlist and hopefully she can come thru before my Oct birthday this year! Zero purchase history.

[Henrimontgomery]

Originally Posted by Billyrolls

This is going Grey/Pre-owned



This is going AD

So true.

One guy only has a collection of watches, a cloth and poor lightning due to his high grey expenses.

Meanwhile the other dude spent a happy life on his estate, died peacefully and even owned a very nice hat!

[ol' Rex]

In my opinion it's always better to buy from an authorized dealer, and in your particular case you have three things going for you:

1) You already have a good relationship to this establishment.

2) The watches you are after aren't especially difficult to obtain.

3) You're a fan of the Grateful Dead.

If you speak to your AD, I suspect you'll get the results you want.

[travisb]

I'd speak directly with your AD. With a 30 year relationship I would think they should be willing to help, but in today's market you never know.
The benefit of going grey is avoiding the wait and any games.

[bakeredout]

I have found that finding even a two tone 36mm Date Just has become very difficult.

[AK797]

CHNR is not much above retail so wait should be a few months, so an AD is the way to go then a Sub should follow within the year.

[mayank1280]

Sometimes we don’t like Grey dealers but secondary watch dealers have made a significant liquidity and overall market where our watches holds value.

Just imagine there was no grey market where in typically AD will not buy our watches if we decide to sell them after few years. What will be the value of our watches? If someone decides to go and sell on their own there will be lot of challenges in making sure watch is legit.

I like the current secondary market mechanism.


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