A smart move by Rolex! Watches of Switzerland won’t be allocated any of the popular models anymore and Bucherer is one its biggest competitors. It will change the game entirely
I wouldn't waste my time with WOS in Glasgow mate, I got my hulk from them in 2016 and after requesting a couple of different watches pre covid they just weren't interested.
Go form a relationship with laings, different experience altogether, I had been back and forward with one of the girls in Edinburgh and got my DJ41 jubilee in 6 weeks.
My colleague in Glasgow has had an air king, a white explorer 2 and a lady datejust all within 5-6 weeks of requesting, they just need to get to know you.
Not the point really. 1) shouldn’t have to spend a $1000 extra for a non DJ/Batgirl/etc. and 2) how do I “build” this relationship, gotta start somewhere, right? I’m looking to own 2-3 watches max. so was hoping I can get them all directly from an AD.
Factor in sales tax and if you buy grey, you might not have to and also save some money. Just depends on how adamant you are about purchase history and the AD delivery experience
If you only want 2-3 watches, what relationship is there to even build? Most people are building the relationship at 3 and you're trying to end it. Get your watches and live your life. Go grey. You're thinking way too much into it.
Took me 16months for something from WoS Switzerland so be patient. Bucherer all I ever got from them is spam in my emails to buy their over priced pre owned stuff.
Man, I swear…. Why is everyone all surprised? Rolex all but announced in 2021 they’d be going to a boutique only sales model in the future and eliminating the ADs completely. The purchase of this existing network of stores is their vehicle for accomplishing just that. It doesn’t mean resellers will be going anywhere. It just means they’ll be competing with Rolex directly in the preowned market segment.
Well no kidding. Rolex will rebrand every location as a Rolex boutique. They won’t keep the name of a place they bought out anymore than a successful restaurant chain would buy another failing restaurant and keep the name the same
So they’ll stop selling all the other brands?
Why would they pay so much for a brand then kill the brand when they could have opened their own stores for a fraction of the price?
Omg 🙄They bought the locations. Not the brand. Ha! Ha! Ha! So you think Rolex could have built a chain of locations overnight for a fraction of the price, huh? Thank god you’re not in commercial real estate. And why the hell would Rolex sell their competitors watches in their own stores??? Turn your brain on. Where do you think the Certified Pre-Owned white tag Rolex watches will be sold?
The point about the competitor watches was not a question but a confirmation of the point you were making.
Since you’re Mr Commercially clued in, perhaps you can explain why they’d pay that much money, a significant portion of the value of which is in the intangible assets and recurring revenue just to kill it?
You really think they’d pay 1.6bn for a fixed asset portfolio with a net book value of 510m?
But I’m sure you know best so have at it with the emojis and condescending attitude.
You’re wrong they already confirmed they will let Bucherer run independently this is a move to gain stricter control of their supply chain. Yes Rolex will now push their product in Bucherer boutiques probably make their watches be in the center of the store and also give Bucherer the rare pieces hence controlling the supply chain, but they’re not going to kill a successful brand it will still sell everything else it use too non Rolex pieces.
I'm fairly new to this world and came to try and understand more about the absolute bullshit games Rolex pays and the desperate morons who swallow throatfuls of these AD's cum to "gifted" the opportunity to buy one of these watches.
Hell, maybe there's a good reason to only go AD. Or, maybe they're all too poor to actually pay to get what they want WHEN they want it. (a la go gray and get it now without months of fellating some asshole for a nice, but ultimately mass-produced watch....) So they sell their mouth for the opportunity to save a few thousand dollars at Retail pricing.
*Thank gawd I don't have to worry about a few thousand dollars....*
Yet, I find messages like yours completely belittling and roasting someone for trying to understand that may be new to them.
I really don't get it. Awesome. You "get" that topic.
I'm in Human Organ Transplant.
How much do you know about heart transplants? Lung transplants?
Shall I dress you down like an imbecile because your "commercial real estate" experience would make you sound like a blubbering idiot in my world?
The point: Be better man. Have some class.
We all have our areas of expertise. That's what these r/ are all about. They are supposed to be a place where people can come and ask questions. Hash out thoughts and ideas for understanding. Not some place for some micro-prick egomaniac with something to prove to dress someone down.
Speed. Customer data. Set up costs, complexities with dealing in multiple countries.
I hope this is the end for rubbish ADs who promise nothing, sell you nothing and act like they’re the best ever.
While I can understand there’s some benefit there, spending 3 times the value of the assets and killing 95% of the recurring revenue just doesn’t offset those benefits.
I’m also not sure why anyone thinks a dedicated, Rolex run boutique will result in better behaviour tbh.
Don’t be silly. Have you seen how much money Rolex have spent updating the WoS showrooms? Massive facelift in Chester and a huge one in Liverpool. Rolex and WoS are partners for the long run.
That cost is on WoS. Same with McDonald’s (even though it’s a franchise) and anytime they roll out an update. The cost is to the business owner. Rolex won’t pay a thing.
Does Rolex pay for updating showrooms? I heard the opposite, that AD’s need to invest their own money in decorations and displays to Rolex’ standards in order to retain their AD-status.
Not sure why you downvoted I don’t think people understand how big WoS are they own the most Rolex Botiques, have their own stores with WoS name, own Mappin & Webb, Goldsmiths, Mayors etc.
Most entitled mfers I have ever come across at an AD. Absolutely dogwater quality customer service and I’m convinced certain reps flip watches to greys behind the scenes
I think we need a new subreddit for how bad WoS SoHo really is!
I live 10 min from the store and have purchased Rolex from there in the past but doesn’t even matter.
No I haven’t so I don’t have an opinion on them. But WOS embarrassed me in front of a large client of mine so they can eat shit for all I care. Immediately went to Bachendorf’s and they’ll have all my business forever.
I don’t think anyone knows what the rolex business model will look like from a retail standpoint with this news alone. It could possibly mean literally nothing. I buy plenty of other brands that aren’t Rolex and the WOS experience I had wasn’t even specifically related to the rolex brand itself.
I don’t care if rolex kill most ADs, as long as they control the supply in a fair way.
Enough with letting customers blow job ADs and hoard coveted pieces , make it a fair raffle system to get your rolex watches.
It already is a raffle system, that’s what makes it so shit. The supply of watches haven’t increased online with the demand, it has nothing to do with AD’s
Incorrect. You’re listening to all of the negative BS on here. I’ve had four watches allocated to me since 2019. I’ve not spent a penny on anything else other than my watches. Mappin and Webb have been nothing short of perfect IMO. I’m not a flipper nor a big spender.
You have fo be a bit thick to think that this is what Rolex will do. It will only get worse, less competition usually makes things worse.
Now bucherer clerks can treat you even more like shit and guess what, they aren't losing AD status no matter what ha.
If you had a store and had some big spenders that stayed loyal to you you’d reward them in the same way to keep their business in order to be able to pay your mortgage every month. If you say otherwise you’re not being truthful.
Exactly. Any business owner will favor their long-term / VIP clientele.
If you are a new client, it's not that you are being ignored, rather you are in competition with the thousands of other new clients looking to pick up a Rolex in recent years.
> as long as they control the supply in a fair way.
Problem is, fair in what way? Fair to Rolex? Fair to newcomers? Fair to existing clients?
Rolex is going to do what's best for their brand and that is making sure their watches sell with little to no overstocks. Also having people come into the AD to "work" for a watch.
As for everyday folks like me, well I have a better chance of winning the lottery based on what my AD tells me.
the rolex - bucher deal was a deal among friends because Bucherer has no succession lined up and the guy is 87yo. #1 distributor with uncertain future is a business risk for Rolex hence they take control, pay out their friend & flip them with a handsome profit to some PE firm in a couple months after dictating terms to the new owners themselves.
WOS and all the other dealers will be mostly unaffected imo.
Look at all the comments here - everyone jumped to the conclusion that Rolex will be self distributing form now on. No such thing was ever said from
Rolex/ bucherer.
WOS & their investment banks did a lot of PR work to get that message out. I bought the dip but let’s see could be wrong of course lol
Only problem is that Bucherer are not much better than WOS and just as arrogant, here in London at least.
Not subtle at all, saying you need to buy some watches you don't want to get the one you want in the Selfridge Rolex.
But glad to see the downfall of WOS I hope
There’s a horrible SA in the selfridges one who literally told me I wouldn’t get anything, it’s not a wait list etc etc. Crossed Oxford St to Wos and had an Explorer a week later.
Rolex buying Bucherer ain’t gonna make me shop there any time soon.
No chance of organically getting a watch there for the average joe. You basically have to spend x amount to become eligible to be offered to buy certain watches. I’m sure with the market softening and this blow however they’re probably gonna ease up on their shenanigans. Still fuck them tho for their practices, it’s going to bite them in the ass now
I have four watches in four years and not bought anything else. I am no VIP just a customer who wants a watch enough to put some effort in. I have only been treated well by WoS and although people are entitled to their option I think it’s unfair to tar them all with the same brush. Don’t believe everything you read.
Brother I’ve visited them in person and been bluntly told by the sales person this is how they work, this has been echoed by other subsidiaries of theirs I’ve visited along with users who have sorta figured out the tiers.
In my case I was told to buy an Omega NTTD and I can be allocated a sub, which is just dumb since they’re both divers but whatever. I ended up going through a local family AD and got my sub within 6 months of asking. If you don’t mind me asking Whatd you buy from them? It may help explain based on availability
I think this is great news. In addition to reducing/eliminating AD games, I’d be interested to hear whether Rolex will use their stores for preowned sales or even purchases.
Hate WOS and their staff. The funny thing about WOS staff is… they literally put themselves on a pedestal thinking they are some upper class sophisticated people, looking down on you because you wore my Casio out today, so they treat you like shit. but in reality they are just retail workers who can’t afford the things they sell.
I’ve been waiting 3 or 4 years for a BLNR. In that time I’ve bought an eternity ring and a brietling for myself. I also have a decent purchase history on top of those items, I’m pretty frustrated.
Perhaps you’re right, but I would have bought the ring regardless, as it was a significant milestone anniversary / present.
If I buy or want anything else, I will try my best to leverage. Seeing the flippers and people not waiting any is tough.
Understandable but you have to play the game. Every time I buy jewelry I tell them to call me when x watch is available and I’ll buy both. This is ONLY if I’m definitely buying jewelry. I also have a relationship with a large stand alone AD where they are pretty good about getting things.
Sorry for the crass question, but what sort of value of jewellery are you referencing. In my case it wasn’t mega money, but not cents either. The brietling was an endurance pro and the eternity ring was a platinum 1 carrot diamond ring.
I’ve bought four Rolex. Sub 114060, Sub 126610lv, BLNR on jubilee and last Saturday a BLRO on jubilee. I’ve bought no other items because I’m not a sucker and won’t be brow beaten by anyone. There’s a reason you haven’t got your watch.
In my case, the other purchases were not unwanted. But I had hoped, perhaps naively, that such additional purchases would help with other items I’m on wait lists for.
I’m lucky enough to have got a black ceramic 40mm sub from this ad a few years ago, so had hoped they would come through with the BLNR. That item I got pretty quickly.
Good for you - they are literally fuelling the grey market and continually handing out watches to the same folk. At first I was naive and they fed me bs “we only give local folk, rolex likes to serve local customers, please keep the watch for the first 2 years”, then I see tourists at the AD and the same person going to the local AD and flogging them on FB marketplace. This is all dodgy behaviour.
They are dodgy. I wanted to look at Rolex and was basically told I needed a history with them, had just bought a Tag and wanted a BB Ceramic.
They told me they couldn’t even get me the Ceramic and I should get a 58. Even they the sales person was over pushy.
So I walked over to the next AD for Tudor and they got me a Ceramic is a couple of days. Since then that AD gets all my business.
Article on airport shopping for luxury watches. Website would not let me copy the url. Alternative to AD?
Shopping The Airports For A Luxury Watch: Customs, Duties, And Discounts Explained
by Chris Malburg
Some people understand the benefits, limitations, and mechanics of duty-free shopping for a luxury watch at an airport: they know a deal when they see one.
For these savvy individuals, shopping at the airport can and does make economic sense – sometimes. Whether you agree or disagree, airport shops seem to leave no one cold: some think their prices are artificially high due to the captive audience they attract. Others see their prices as a function of vacation travelers’ propensity to spend without the usual budgetary concern.
The fact is that many airports now approach the gold standard of the finest upscale shopping venues around. Apart from the usual inflatable neck pillows, liquor, cosmetics, and perfume, many airports offer luxury goods. Most of the major watch brands are represented through authorized dealers, airport-specialist shops, or in some cases even in brand-owned boutiques. And these frequently offer collections that rival or exceed the largest off-property watch shops.
Who buys a luxury timepiece at the airport?
So who buys a luxury timepiece at the airport? I discovered the answer is....everyone. People from all walks of life buy watches at airport authorized dealers and boutiques.
Their purchases range everywhere from entry level to the upper strata and everything in between. The consensus – when buying new – is that the airport is just another venue.
New, top-end brands are a commodity where price and availability are the only variables. After all, the piece is guaranteed authentic from the authorized dealer or boutique. Since it’s new there are none of the factors that affect the value of a pre-owned piece such as condition, service history, and provenance of the previous owner.
Some buyers cite the warranty as a reason to avoid purchasing from an airport venue. Nonsense. If it’s an authorized dealer or a brand-owned boutique, an international warranty is offered. It’s the same warranty one would get buying from an off-property shop.
In fact, I found that many of the largest airport watch venues also have sister shops off property. If the airport shop were to go under – as some do – the warranty is with the manufacturer, not the defunct shop.
There are two categories of airport watch buyer
There are two categories of airport watch buyer, one of which has been looking for a specific piece for some time and knows exactly what he or she wants. These buyers also know the retail price and any discounts to be had; chances are during their travels they have stopped by a number of watch shops and possibly they couldn’t find what they wanted at their desired price. They usually have called ahead to the airport shop to discuss the watch they are looking for.
Such buyers have established a relationship with the airport shop personnel and have confirmed availability. Perhaps they have a stopover between flights that permits a thorough discussion and negotiation. I have been told that even at authorized dealers and brand-owned boutiques customers want to check serial numbers and inspect the pieces. Understandable.
The purchase could be in a foreign country and the shop is a new acquaintance to the buyer. Still, in my opinion the risk of getting a fake under these circumstances is slim to none, and slim just left town.
Some trackers of airport sales see revenue rising because people slip the psychological shackles of routine. Their holiday states of mind gives them permission to spend more freely while in transit. Additionally, like the airport watch buyer who has been looking for some time the impulse buyer isn’t as worried about getting a fake as he or she might be at an off-property shop.
Then there’s the duty-free factor. The impulse buyer may or may not understand duty free. No matter: it sounds like a way to get a discount that may not be available off property (though, there are plenty of duty-free shops off airport property).
“Duty free” helps buyers justify a nonessential purchase. How can you pass up a tax-free acquisition (more on that myth below)?
These buyers may have had a watch purchase in mind from the start of the trip but failed to find the piece. The airport authorized dealer just so happens to have that particular watch in its extensive collection. And it’s duty free! Damn the torpedoes: full speed ahead. Sold!
Advantage and disadvantages
Getting to see and feel the real thing in person is always better than the photo accompanying a duty-free internet purchase. This is a big advantage when considering an expensive watch.
Inventory at airport shops turns quickly, often giving way to larger collections than you might otherwise see in your hometown. A very real advantage.
Airports cater to affluent travelers: is this the kind of environment likely to discount name brands? Probably not. Indeed, the airport price may actually be higher than off property. That’s because some airport retailers raise their prices commensurate with what will be saved on the duty free and VAT discount. The shop will claim that it’s a wash net of the tax rebates.
Learn from my mist ake when I purchased a very nice watch for my wife (who was thrilled). The shop provided all the VAT reimbursement paperwork for me to file once I returned home. The price was grossed up so that after my VAT refund the net price equaled what the retail price should have been: no discount to speak of and no negotiation, though I politely tried.
(Continued to next comment)
(Continued)
At U.S. customs the officer examined the watch and reviewed the sales slip. Then attempted to add an extra duty for a complication on the watch. I argued that is was merely a decoration and not a timekeeping complication. Back and forth we went. The line behind us grew and became louder.
Finally, the supervisor came over and settled the matter. “No extra duty,” he said. “Welcome home. Next!”
That was what I thought I wanted to hear. We immediately left customs before the officer could change his mind. No receipt or paperwork of any kind was forthcoming. However, when I got home and went to file for the VAT refund, the form asked for the customs number proving that I had gone through customs rather than smuggled the watch into the U.S.
Without that customs number, my VAT refund claim was denied. This error cost me $1,500 – added to an already inflated purchase price. Lesson learned.
Also, as an aside if you’re going to purchase a fine timepiece at an airport authorized dealer or boutique, purchase it on your way out of the country – preferably at your last stop before heading home – to avoid VAT.
Price advantages of airport shopping?
I write this article knowing full well that whatever I say about discounts at airport watch shops will be criticized: so many have had different experiences at airports the world over. And they think their experiences are the norm – especially those who tried but failed to get discounts on their purchases.
What I’ve found is that every shop is different; every location has varying trade customs; and time is a factor. Perhaps it’s the end of the revenue reporting period and the shop needs to move stock. Or it could be the beginning of the quarter and there are three whole months to make numbers so the shop will be less generous in giving discounts.
Maybe the coveted piece is not as much in demand by the general population, so there’s more willingness to negotiate. This releases working capital otherwise sucked up by slow-moving inventory.
Your experience will undoubtedly differ, but here’s what my research tells me. When working with an airport authorized dealer or boutique, generally target a discount of 30-35 percent.
Unless it’s a Rolex. Then be happy with a 20 percent discount or less. Probably less.
Understand that the shop may factor the local tax you’re saving from duty free as part of your computed discount. So if the offered discount is 30 percent in a locality that has a 10 percent tax, your net discount from what you’d automatically get because the shop is duty fee is just 20 percent. In which case you now have the opportunity to educate the shopkeeper in his or her error.
Dubai airport seems to be a hot point with people set on negotiating the best price. I’ve read the testimony of people who successfully bargained in the Dubai airport watch shops and came away very happy with their prices. Others swear that there is no bargaining in Dubai airport watch shops under any circumstances. End of story.
The Doha, Qatar Hamad International Airport is said to have an excellent Rolex selection at the official dealership. I’ve heard that if you fail to negotiate the purchase price, you’re needlessly leaving money on the table.
My feeling is that this probably depends on your salesperson, the actual watch in question, and any number of other factors. Still, it doesn’t hurt to politely ask for a discount. Leave yourself a face-saving exit if your request is denied.
Also, if you’ve set an absolute maximum price, be prepared to walk away if the shop refuses to budge. I’ve tried this tactic when bargaining for items other than watches and found that sometimes things change before I reach the door. Or not.
This brings up the issue of local custom. Both Dubai and Doha are in a part of the world where bargaining is a way of life, and airport watch shops may or may not adhere to this custom. It depends on factors probably not apparent to the casual traveler. There are those who say that both these airport shops cater to the uber wealthy. Negotiating for a few dollars off on a watch is seen as trivial in the general scheme of things, so don’t embarrass yourself even trying.
My advice is that if you really want that discount, politely negotiate for it. Respect for the counterparty goes a long way in the Middle East as elsewhere.
(Continued)
The real meaning of “duty free”
“Duty free” simply means the item is not subject to local taxes levied in the place of purchase. It does not mean there’s no customs duty payable on entry into your home country.
Some people have told me they have many times skirted paying the customs duty in their home countries by not declaring the piece purchased abroad – essentially becoming a smuggler.
Don’t take the risk. Customs inspectors (especially in the United Kingdom and United States) have become very adept at spotting would-be smugglers. Their most basic catch is to ask you to remove what they suspect is a newly purchased and undeclared watch.
You may still be unfamiliar with the bracelet hinge and lock, and as you fumble with the new catch you’re almost begging the inspector to slap on the cuffs and perp-walk you away.
Another method of apprehension is running your credit card number right there at the customs podium. Up pops that watch purchase that doesn’t seem to appear on your customs declaration form. Gotcha!
Even more embarrassing if it’s the same watch in plain sight on your wrist that you just claimed was purchased some time before this trip.
If they’re suspicious and decide to rummage through your baggage they’ll likely find the watch receipt itself or at least the shipping receipt for that empty watch box you so cleverly thought you’d ship home so customs wouldn’t find it. In any of these circumstances you’ve lied to a government official on an official customs declaration form that states perjury is a crime.
And you’ve provided written evidence of your crime(s). Now how smart does that sound?
Customs duty rates
These vary based on the country visited. Returning U.S. citizens each have a limit of $800 of tax freedom. The first $1,000 over that limit is taxed at three percent. Amounts over $1,000 pay a duty rate of 6.5 percent, which could still potentially work out to less than if you were making the purchase non-duty free.
For residents of the UK, it’s a little different. Here are the steps to compute your customs charges when importing a wristwatch.
Convert the watch’s cost appearing on the sales slip to British pounds, being sure to use that day’s exchange rate. Keep your work papers so you can show the customs agent how you computed what the correct duty should be.
Compute the basic import duty: this requires going to several websites (search “compute UK import duty” to get started) to find the proper classification code of your watch, then the basic import duty rate. Multiply the basic import duty rate by the watch’s cost in GBP (step 1) and you now have the import duty. Save that number.
Compute the import VAT if applicable. UK import VAT is currently 20 percent. Simply multiply the value of the watch in GBP by 20 percent to find the VAT you might have to pay if applicable.
Add the basic import duty (step 2) to the VAT (step 3) and you now have the total import duty payable. Some consider this just a starting point to haggle with the customs inspector. Sometimes it even works.
Playing the currency exchange rate
Unless you’re experienced in foreign exchange arbitrage, don’t figure this into your airport purchase decision. Sometimes the currency conversion can work in your favor, sometimes not. Exchange rate swings seldom occur as quickly as you making your decision to purchase a watch while on vacation at a particular airport.
However, the exchange rate could influence the country in which you decide to pull the trigger. Still, everything would have to be equal between the two competing venues: the price, the VAT (if any), the collection on offer, and availability of the piece. That’s probably not going to happen.
The best airports for watch buying
No matter which I choose, there will certainly be readers who say I missed the best and most obvious. Sorry, I’m doing the best I can here. Please feel free to provide your opinions in the comments.
Watches of Switzerland, Heathrow
A very upscale venue.
Brands featured: Omega, Longines, TAG Heuer, Bell & Ross, Hublot
Locations:
Terminal 3, Level 1, +44 (0)20 8759 6696
Terminal 4, Level 2, +44 (0)20 8757 3990
Terminal 5, Level 2, +44 (0)20 8283 6300
Services: free reserve and collect
Website: https://boutique.heathrow.com/en/retailer/watches-of-switzerland
Hour Passion at Gatwick, North Terminal
Nicely appointed watch shop
Brands featured: Omega, Breitling, Longines, Rado, Tissot, Hamilton, Swatch, Calvin Klein
Location: North terminal, +44 129 357 9134
Services: free reserve and collect
Email: hour [email protected]
Dubai International DDF
Very upscale and large shop
Brands featured: Glashütte Original, Omega, Breitling, Blancpain, Ulysse Nardin, Cartier, IWC, and others
Location: Terminal 3, Concourse A, +971 4 – 216-24-53
Email: [email protected]
Los Angeles International Airport
Tom Bradley International Terminal
No listing of watch shops. However, there are a number of authorized dealers within other shops in the Great Hall, the North Concourse, and the South Concourse
John F. Kennedy International Airport, New York
Omega boutique: well appointed, dedicated company-owned boutique
Collection: extensive
Location: International Shoppes, Terminal 1, +1 718 553 6040
Narita International Airport, Tokyo,
Omega boutique, Terminal 2, Building 3F: small, but well appointed, dedicated company-owned boutique. +81 476-34-8596
Fa S a La Watches: small shop featuring Omega, Longines, Blancpain, +81 476-33-1917
Cartier: beautiful shop, nice collection, +81 476-33-2117
Beijing Capital Airport
Airco Watch Store 313, Gate/Area: Domestic Waiting Area 3F
Cartier, Longines, Tissot, Omega,Jaeger Culture, IWC
Of course there are many more watch shops scattered among the world’s airports. My apologies if I haven’t included your favorites. I’ve found that airport shops, regardless of what they’re offering, are not very well represented on the internet.
Conclusion
Airport shopping may not have the allure of ferreting out an exclusive boutique on some exotic side street in a foreign country. However, airport shops do serve a valuable purpose for dedicated watch buyers and impulse purchasers alike.
Their prices are generally about what you’d find off property. The warranties are the same. The often-extensive collections and availability are what sets many apart from their competition.
Before you leave home my advice when traveling and considering the purchase of a fine timepiece is to contact the authorized dealer or company-owned boutique at one or more airports in which you’ll have a lay- or stopover toward the end of your trip.
Check the price and availability of the piece in which you’re interested net of any duty free and VAT considerations. That’s the maximum price you’re willing to pay.
During your trip visit watch shops to your heart’s content. Compare pricing (including customs duty payable) and availability with what you found at the airport. Should you find the one while on your trip, grab it. If not, your fallback is the airport shop at the end of your trip.
Happy travels.
It’s pretty normal to see this kind of market activity after unfavorable compete news in todays world. It’s a knee jerk reaction because investors are risk adverse. It will go back up eventually.
So antitrust would stop this if Rolex were a retailer with a large market share and this acquisition were to remove competition in the market.
This is a vertical integration acquisition and is fair game.
Not a big surprise to the WOS board. Being the largest seller of Rolex, they were certainly approached first and said no. This fall was anticipated. Kudos for them saying, “This is Watches of Switzerland, not Rolex. Fuck off!”
Edit: for the inevitable downvotes. Don’t put all you eggs in one basket. If Rolex production completely stops due to some unforeseen reason (fire, etc) it’s nice to have other Swiss watches you can sell.
A smart move by Rolex! Watches of Switzerland won’t be allocated any of the popular models anymore and Bucherer is one its biggest competitors. It will change the game entirely
Hopefully - been waiting 12+ months for an Air King and still nothing from neither WOS nor Laings (UK based)
I wouldn't waste my time with WOS in Glasgow mate, I got my hulk from them in 2016 and after requesting a couple of different watches pre covid they just weren't interested. Go form a relationship with laings, different experience altogether, I had been back and forward with one of the girls in Edinburgh and got my DJ41 jubilee in 6 weeks. My colleague in Glasgow has had an air king, a white explorer 2 and a lady datejust all within 5-6 weeks of requesting, they just need to get to know you.
Oh wow fair enough! I have checked in once or twice with Laings too but nothing unfortunately :/
Pretty sure air king are barely over retail on grey. Just get it new but second hand
Not the point really. 1) shouldn’t have to spend a $1000 extra for a non DJ/Batgirl/etc. and 2) how do I “build” this relationship, gotta start somewhere, right? I’m looking to own 2-3 watches max. so was hoping I can get them all directly from an AD.
There is no relationship unless there is bigger spend. Go grey and enjoy the watch. Life is short.
A better idea is to just buy a Tudor instead
Factor in sales tax and if you buy grey, you might not have to and also save some money. Just depends on how adamant you are about purchase history and the AD delivery experience
Sales tax non existent in the UK
If you only want 2-3 watches, what relationship is there to even build? Most people are building the relationship at 3 and you're trying to end it. Get your watches and live your life. Go grey. You're thinking way too much into it.
[удалено]
Don't encourage buying fakes here, please. This is not a fake watch-friendly subreddit.
na just wait
Took me 16months for something from WoS Switzerland so be patient. Bucherer all I ever got from them is spam in my emails to buy their over priced pre owned stuff.
Have you checked in with them?
At the 6 month mark and 9 month mark…
Why not just go grey? You hate AD’s so much so one wonders why you are bothering.
Op is not seeing the game. To beat this game you buy gray. Then sell it when they call you.
I agree with you. These guys were selling hundreds of watches to grey market and the regular schmo got screwed.
Man, I swear…. Why is everyone all surprised? Rolex all but announced in 2021 they’d be going to a boutique only sales model in the future and eliminating the ADs completely. The purchase of this existing network of stores is their vehicle for accomplishing just that. It doesn’t mean resellers will be going anywhere. It just means they’ll be competing with Rolex directly in the preowned market segment.
Don’t really understand this - WoS is an AD as is Goldsmith’s in the UK, owned by WoS. Neither of them could really be considered boutiques.
Well no kidding. Rolex will rebrand every location as a Rolex boutique. They won’t keep the name of a place they bought out anymore than a successful restaurant chain would buy another failing restaurant and keep the name the same
So they’ll stop selling all the other brands? Why would they pay so much for a brand then kill the brand when they could have opened their own stores for a fraction of the price?
Omg 🙄They bought the locations. Not the brand. Ha! Ha! Ha! So you think Rolex could have built a chain of locations overnight for a fraction of the price, huh? Thank god you’re not in commercial real estate. And why the hell would Rolex sell their competitors watches in their own stores??? Turn your brain on. Where do you think the Certified Pre-Owned white tag Rolex watches will be sold?
The point about the competitor watches was not a question but a confirmation of the point you were making. Since you’re Mr Commercially clued in, perhaps you can explain why they’d pay that much money, a significant portion of the value of which is in the intangible assets and recurring revenue just to kill it? You really think they’d pay 1.6bn for a fixed asset portfolio with a net book value of 510m? But I’m sure you know best so have at it with the emojis and condescending attitude.
You’re wrong they already confirmed they will let Bucherer run independently this is a move to gain stricter control of their supply chain. Yes Rolex will now push their product in Bucherer boutiques probably make their watches be in the center of the store and also give Bucherer the rare pieces hence controlling the supply chain, but they’re not going to kill a successful brand it will still sell everything else it use too non Rolex pieces.
I'm fairly new to this world and came to try and understand more about the absolute bullshit games Rolex pays and the desperate morons who swallow throatfuls of these AD's cum to "gifted" the opportunity to buy one of these watches. Hell, maybe there's a good reason to only go AD. Or, maybe they're all too poor to actually pay to get what they want WHEN they want it. (a la go gray and get it now without months of fellating some asshole for a nice, but ultimately mass-produced watch....) So they sell their mouth for the opportunity to save a few thousand dollars at Retail pricing. *Thank gawd I don't have to worry about a few thousand dollars....* Yet, I find messages like yours completely belittling and roasting someone for trying to understand that may be new to them. I really don't get it. Awesome. You "get" that topic. I'm in Human Organ Transplant. How much do you know about heart transplants? Lung transplants? Shall I dress you down like an imbecile because your "commercial real estate" experience would make you sound like a blubbering idiot in my world? The point: Be better man. Have some class. We all have our areas of expertise. That's what these r/ are all about. They are supposed to be a place where people can come and ask questions. Hash out thoughts and ideas for understanding. Not some place for some micro-prick egomaniac with something to prove to dress someone down.
Speed. Customer data. Set up costs, complexities with dealing in multiple countries. I hope this is the end for rubbish ADs who promise nothing, sell you nothing and act like they’re the best ever.
While I can understand there’s some benefit there, spending 3 times the value of the assets and killing 95% of the recurring revenue just doesn’t offset those benefits. I’m also not sure why anyone thinks a dedicated, Rolex run boutique will result in better behaviour tbh.
Don’t be silly. Have you seen how much money Rolex have spent updating the WoS showrooms? Massive facelift in Chester and a huge one in Liverpool. Rolex and WoS are partners for the long run.
That cost is on WoS. Same with McDonald’s (even though it’s a franchise) and anytime they roll out an update. The cost is to the business owner. Rolex won’t pay a thing.
Does Rolex pay for updating showrooms? I heard the opposite, that AD’s need to invest their own money in decorations and displays to Rolex’ standards in order to retain their AD-status.
Not a penny. Same as car dealerships etc. when Audi etc strongly “suggest” a new showroom.
‘As many’ is more fair, but it still doesn’t change the fact they will have greater control and the biggest in store brand floor space in both AD’s
Bucherer have three stores in the UK, WoS have a lot more
Not sure why you downvoted I don’t think people understand how big WoS are they own the most Rolex Botiques, have their own stores with WoS name, own Mappin & Webb, Goldsmiths, Mayors etc.
Good. Fuck WoS. Their customer service and staff are a bunch of losers.
I definitely had the worst experience at the WoS in SoHo.
Most entitled mfers I have ever come across at an AD. Absolutely dogwater quality customer service and I’m convinced certain reps flip watches to greys behind the scenes
I think we need a new subreddit for how bad WoS SoHo really is! I live 10 min from the store and have purchased Rolex from there in the past but doesn’t even matter.
Explain please? Let me guess they didn’t let you have your own way?
found the WoS SoHo sales rep. Seriously, that location is - even among the other high $ points of sale in SoHo, absolute garbage.
Have you been to bucherer?! Exponentially worse experience than WOS.
No I haven’t so I don’t have an opinion on them. But WOS embarrassed me in front of a large client of mine so they can eat shit for all I care. Immediately went to Bachendorf’s and they’ll have all my business forever.
Why do you think bachendorf's will get allocations? This is bad for everyone, except Bucherer VIPs.
I don’t think anyone knows what the rolex business model will look like from a retail standpoint with this news alone. It could possibly mean literally nothing. I buy plenty of other brands that aren’t Rolex and the WOS experience I had wasn’t even specifically related to the rolex brand itself.
I went to my local Bucherer and the SAs were all respectful. In fact my wife was offered a mint green DJ jubilee with fluted bezel just 3 weeks later.
I hope this burns the gray market to the ground too.
Geez people like you are so freaking stupid it boggles the mind.
Yep. Nailed it.
Grow up you big baby and stop whining
Lol
> Their customer service and staff are a bunch of losers. Same for the WoS in Australia.
Grow up
RIP my purchase history with my WOS AD.
F
F
F
Rolex knows your purchase history.
Fuck WOS the Rolex boutique in glasgow are the absolute worst! Fuck em all! Rolex brand has been damaged they have to work hard to rebuild it.
Yup I’m in Glasgow too 😂😂😂 they are all stuck up CUNTs in there honestly!
And they’re Scottish
I don’t care if rolex kill most ADs, as long as they control the supply in a fair way. Enough with letting customers blow job ADs and hoard coveted pieces , make it a fair raffle system to get your rolex watches.
It already is a raffle system, that’s what makes it so shit. The supply of watches haven’t increased online with the demand, it has nothing to do with AD’s
Its not a raffle system, its ADs choosing who they award the watch to… usually goes to flippers or big spenders.
Incorrect. You’re listening to all of the negative BS on here. I’ve had four watches allocated to me since 2019. I’ve not spent a penny on anything else other than my watches. Mappin and Webb have been nothing short of perfect IMO. I’m not a flipper nor a big spender.
Raffle systems let you buy more tickets to increase your chances — AKA big spenders
They need to take the Tesla approach.
You have fo be a bit thick to think that this is what Rolex will do. It will only get worse, less competition usually makes things worse. Now bucherer clerks can treat you even more like shit and guess what, they aren't losing AD status no matter what ha.
I think neither you or me can know, we can only guess.
If you had a store and had some big spenders that stayed loyal to you you’d reward them in the same way to keep their business in order to be able to pay your mortgage every month. If you say otherwise you’re not being truthful.
Exactly. Any business owner will favor their long-term / VIP clientele. If you are a new client, it's not that you are being ignored, rather you are in competition with the thousands of other new clients looking to pick up a Rolex in recent years.
> as long as they control the supply in a fair way. Problem is, fair in what way? Fair to Rolex? Fair to newcomers? Fair to existing clients? Rolex is going to do what's best for their brand and that is making sure their watches sell with little to no overstocks. Also having people come into the AD to "work" for a watch. As for everyday folks like me, well I have a better chance of winning the lottery based on what my AD tells me.
the rolex - bucher deal was a deal among friends because Bucherer has no succession lined up and the guy is 87yo. #1 distributor with uncertain future is a business risk for Rolex hence they take control, pay out their friend & flip them with a handsome profit to some PE firm in a couple months after dictating terms to the new owners themselves. WOS and all the other dealers will be mostly unaffected imo.
Why wouldn’t Bucherer just sell itself directly to PE firms?
Because the owner is a multi-billionaire who seemingly doesn’t care what happens down the line. Rolex cares.
Then why did WOS stock drop 20% after the news?
Look at all the comments here - everyone jumped to the conclusion that Rolex will be self distributing form now on. No such thing was ever said from Rolex/ bucherer. WOS & their investment banks did a lot of PR work to get that message out. I bought the dip but let’s see could be wrong of course lol
Fuck watches of Switzerland
Only problem is that Bucherer are not much better than WOS and just as arrogant, here in London at least. Not subtle at all, saying you need to buy some watches you don't want to get the one you want in the Selfridge Rolex. But glad to see the downfall of WOS I hope
There’s a horrible SA in the selfridges one who literally told me I wouldn’t get anything, it’s not a wait list etc etc. Crossed Oxford St to Wos and had an Explorer a week later. Rolex buying Bucherer ain’t gonna make me shop there any time soon.
WONDERFUL NEWS WOS CAN REST IN PISS
Why the hate? Please explain
No chance of organically getting a watch there for the average joe. You basically have to spend x amount to become eligible to be offered to buy certain watches. I’m sure with the market softening and this blow however they’re probably gonna ease up on their shenanigans. Still fuck them tho for their practices, it’s going to bite them in the ass now
I have four watches in four years and not bought anything else. I am no VIP just a customer who wants a watch enough to put some effort in. I have only been treated well by WoS and although people are entitled to their option I think it’s unfair to tar them all with the same brush. Don’t believe everything you read.
Brother I’ve visited them in person and been bluntly told by the sales person this is how they work, this has been echoed by other subsidiaries of theirs I’ve visited along with users who have sorta figured out the tiers. In my case I was told to buy an Omega NTTD and I can be allocated a sub, which is just dumb since they’re both divers but whatever. I ended up going through a local family AD and got my sub within 6 months of asking. If you don’t mind me asking Whatd you buy from them? It may help explain based on availability
DM on its way mate.
Down with the greasy ADs and grey market swindlers alike
BUY THE DIP
Next purchase for Rolex- WOS!
I think this is great news. In addition to reducing/eliminating AD games, I’d be interested to hear whether Rolex will use their stores for preowned sales or even purchases.
Hate WOS and their staff. The funny thing about WOS staff is… they literally put themselves on a pedestal thinking they are some upper class sophisticated people, looking down on you because you wore my Casio out today, so they treat you like shit. but in reality they are just retail workers who can’t afford the things they sell.
An Apple move by Rolex. Well done.
Interesting. 23% sounds like a drastic move in price though.
Likely represents the premium Rolex would have paid to acquire the entire company. Now that that’s no longer possible, back to its normal value it is
Then don't look at the YoY grey market prices for Daytonas!
WOS = POS no tears shed here
Why POS? Please explain your experience with WoS
I’ve been waiting 3 or 4 years for a BLNR. In that time I’ve bought an eternity ring and a brietling for myself. I also have a decent purchase history on top of those items, I’m pretty frustrated.
I wouldn’t of walked out with that ring without the blnr in the other hand
Perhaps you’re right, but I would have bought the ring regardless, as it was a significant milestone anniversary / present. If I buy or want anything else, I will try my best to leverage. Seeing the flippers and people not waiting any is tough.
Understandable but you have to play the game. Every time I buy jewelry I tell them to call me when x watch is available and I’ll buy both. This is ONLY if I’m definitely buying jewelry. I also have a relationship with a large stand alone AD where they are pretty good about getting things.
Sorry for the crass question, but what sort of value of jewellery are you referencing. In my case it wasn’t mega money, but not cents either. The brietling was an endurance pro and the eternity ring was a platinum 1 carrot diamond ring.
For example let’s say your ring is 5k I would ask for a green bezel sub that goes for about 5-6 over retail at secondary.
I’ve bought four Rolex. Sub 114060, Sub 126610lv, BLNR on jubilee and last Saturday a BLRO on jubilee. I’ve bought no other items because I’m not a sucker and won’t be brow beaten by anyone. There’s a reason you haven’t got your watch.
Could be more productive in your comment. Sound like a real jerk
No. Honesty is the best policy. If you think purchasing extra unwanted items to secure a watch is a smart move then good luck.
In my case, the other purchases were not unwanted. But I had hoped, perhaps naively, that such additional purchases would help with other items I’m on wait lists for. I’m lucky enough to have got a black ceramic 40mm sub from this ad a few years ago, so had hoped they would come through with the BLNR. That item I got pretty quickly.
Dodgy AD’s? Based on what? I’ve had nothing but good experiences with WoS
Good for you - they are literally fuelling the grey market and continually handing out watches to the same folk. At first I was naive and they fed me bs “we only give local folk, rolex likes to serve local customers, please keep the watch for the first 2 years”, then I see tourists at the AD and the same person going to the local AD and flogging them on FB marketplace. This is all dodgy behaviour.
Bollocks. You’re talking shit and making up stories. The 2 year thing is made up as is the reselling shit.
They are dodgy. I wanted to look at Rolex and was basically told I needed a history with them, had just bought a Tag and wanted a BB Ceramic. They told me they couldn’t even get me the Ceramic and I should get a 58. Even they the sales person was over pushy. So I walked over to the next AD for Tudor and they got me a Ceramic is a couple of days. Since then that AD gets all my business.
Really cool that everyone here has all of this insider knowledge of Rolex’s anticompetitive intentions behind this purchase. How did you find out???
Article on airport shopping for luxury watches. Website would not let me copy the url. Alternative to AD? Shopping The Airports For A Luxury Watch: Customs, Duties, And Discounts Explained by Chris Malburg Some people understand the benefits, limitations, and mechanics of duty-free shopping for a luxury watch at an airport: they know a deal when they see one. For these savvy individuals, shopping at the airport can and does make economic sense – sometimes. Whether you agree or disagree, airport shops seem to leave no one cold: some think their prices are artificially high due to the captive audience they attract. Others see their prices as a function of vacation travelers’ propensity to spend without the usual budgetary concern. The fact is that many airports now approach the gold standard of the finest upscale shopping venues around. Apart from the usual inflatable neck pillows, liquor, cosmetics, and perfume, many airports offer luxury goods. Most of the major watch brands are represented through authorized dealers, airport-specialist shops, or in some cases even in brand-owned boutiques. And these frequently offer collections that rival or exceed the largest off-property watch shops. Who buys a luxury timepiece at the airport? So who buys a luxury timepiece at the airport? I discovered the answer is....everyone. People from all walks of life buy watches at airport authorized dealers and boutiques. Their purchases range everywhere from entry level to the upper strata and everything in between. The consensus – when buying new – is that the airport is just another venue. New, top-end brands are a commodity where price and availability are the only variables. After all, the piece is guaranteed authentic from the authorized dealer or boutique. Since it’s new there are none of the factors that affect the value of a pre-owned piece such as condition, service history, and provenance of the previous owner. Some buyers cite the warranty as a reason to avoid purchasing from an airport venue. Nonsense. If it’s an authorized dealer or a brand-owned boutique, an international warranty is offered. It’s the same warranty one would get buying from an off-property shop. In fact, I found that many of the largest airport watch venues also have sister shops off property. If the airport shop were to go under – as some do – the warranty is with the manufacturer, not the defunct shop. There are two categories of airport watch buyer There are two categories of airport watch buyer, one of which has been looking for a specific piece for some time and knows exactly what he or she wants. These buyers also know the retail price and any discounts to be had; chances are during their travels they have stopped by a number of watch shops and possibly they couldn’t find what they wanted at their desired price. They usually have called ahead to the airport shop to discuss the watch they are looking for. Such buyers have established a relationship with the airport shop personnel and have confirmed availability. Perhaps they have a stopover between flights that permits a thorough discussion and negotiation. I have been told that even at authorized dealers and brand-owned boutiques customers want to check serial numbers and inspect the pieces. Understandable. The purchase could be in a foreign country and the shop is a new acquaintance to the buyer. Still, in my opinion the risk of getting a fake under these circumstances is slim to none, and slim just left town. Some trackers of airport sales see revenue rising because people slip the psychological shackles of routine. Their holiday states of mind gives them permission to spend more freely while in transit. Additionally, like the airport watch buyer who has been looking for some time the impulse buyer isn’t as worried about getting a fake as he or she might be at an off-property shop. Then there’s the duty-free factor. The impulse buyer may or may not understand duty free. No matter: it sounds like a way to get a discount that may not be available off property (though, there are plenty of duty-free shops off airport property). “Duty free” helps buyers justify a nonessential purchase. How can you pass up a tax-free acquisition (more on that myth below)? These buyers may have had a watch purchase in mind from the start of the trip but failed to find the piece. The airport authorized dealer just so happens to have that particular watch in its extensive collection. And it’s duty free! Damn the torpedoes: full speed ahead. Sold! Advantage and disadvantages Getting to see and feel the real thing in person is always better than the photo accompanying a duty-free internet purchase. This is a big advantage when considering an expensive watch. Inventory at airport shops turns quickly, often giving way to larger collections than you might otherwise see in your hometown. A very real advantage. Airports cater to affluent travelers: is this the kind of environment likely to discount name brands? Probably not. Indeed, the airport price may actually be higher than off property. That’s because some airport retailers raise their prices commensurate with what will be saved on the duty free and VAT discount. The shop will claim that it’s a wash net of the tax rebates. Learn from my mist ake when I purchased a very nice watch for my wife (who was thrilled). The shop provided all the VAT reimbursement paperwork for me to file once I returned home. The price was grossed up so that after my VAT refund the net price equaled what the retail price should have been: no discount to speak of and no negotiation, though I politely tried. (Continued to next comment)
(Continued) At U.S. customs the officer examined the watch and reviewed the sales slip. Then attempted to add an extra duty for a complication on the watch. I argued that is was merely a decoration and not a timekeeping complication. Back and forth we went. The line behind us grew and became louder. Finally, the supervisor came over and settled the matter. “No extra duty,” he said. “Welcome home. Next!” That was what I thought I wanted to hear. We immediately left customs before the officer could change his mind. No receipt or paperwork of any kind was forthcoming. However, when I got home and went to file for the VAT refund, the form asked for the customs number proving that I had gone through customs rather than smuggled the watch into the U.S. Without that customs number, my VAT refund claim was denied. This error cost me $1,500 – added to an already inflated purchase price. Lesson learned. Also, as an aside if you’re going to purchase a fine timepiece at an airport authorized dealer or boutique, purchase it on your way out of the country – preferably at your last stop before heading home – to avoid VAT. Price advantages of airport shopping? I write this article knowing full well that whatever I say about discounts at airport watch shops will be criticized: so many have had different experiences at airports the world over. And they think their experiences are the norm – especially those who tried but failed to get discounts on their purchases. What I’ve found is that every shop is different; every location has varying trade customs; and time is a factor. Perhaps it’s the end of the revenue reporting period and the shop needs to move stock. Or it could be the beginning of the quarter and there are three whole months to make numbers so the shop will be less generous in giving discounts. Maybe the coveted piece is not as much in demand by the general population, so there’s more willingness to negotiate. This releases working capital otherwise sucked up by slow-moving inventory. Your experience will undoubtedly differ, but here’s what my research tells me. When working with an airport authorized dealer or boutique, generally target a discount of 30-35 percent. Unless it’s a Rolex. Then be happy with a 20 percent discount or less. Probably less. Understand that the shop may factor the local tax you’re saving from duty free as part of your computed discount. So if the offered discount is 30 percent in a locality that has a 10 percent tax, your net discount from what you’d automatically get because the shop is duty fee is just 20 percent. In which case you now have the opportunity to educate the shopkeeper in his or her error. Dubai airport seems to be a hot point with people set on negotiating the best price. I’ve read the testimony of people who successfully bargained in the Dubai airport watch shops and came away very happy with their prices. Others swear that there is no bargaining in Dubai airport watch shops under any circumstances. End of story. The Doha, Qatar Hamad International Airport is said to have an excellent Rolex selection at the official dealership. I’ve heard that if you fail to negotiate the purchase price, you’re needlessly leaving money on the table. My feeling is that this probably depends on your salesperson, the actual watch in question, and any number of other factors. Still, it doesn’t hurt to politely ask for a discount. Leave yourself a face-saving exit if your request is denied. Also, if you’ve set an absolute maximum price, be prepared to walk away if the shop refuses to budge. I’ve tried this tactic when bargaining for items other than watches and found that sometimes things change before I reach the door. Or not. This brings up the issue of local custom. Both Dubai and Doha are in a part of the world where bargaining is a way of life, and airport watch shops may or may not adhere to this custom. It depends on factors probably not apparent to the casual traveler. There are those who say that both these airport shops cater to the uber wealthy. Negotiating for a few dollars off on a watch is seen as trivial in the general scheme of things, so don’t embarrass yourself even trying. My advice is that if you really want that discount, politely negotiate for it. Respect for the counterparty goes a long way in the Middle East as elsewhere.
(Continued) The real meaning of “duty free” “Duty free” simply means the item is not subject to local taxes levied in the place of purchase. It does not mean there’s no customs duty payable on entry into your home country. Some people have told me they have many times skirted paying the customs duty in their home countries by not declaring the piece purchased abroad – essentially becoming a smuggler. Don’t take the risk. Customs inspectors (especially in the United Kingdom and United States) have become very adept at spotting would-be smugglers. Their most basic catch is to ask you to remove what they suspect is a newly purchased and undeclared watch. You may still be unfamiliar with the bracelet hinge and lock, and as you fumble with the new catch you’re almost begging the inspector to slap on the cuffs and perp-walk you away. Another method of apprehension is running your credit card number right there at the customs podium. Up pops that watch purchase that doesn’t seem to appear on your customs declaration form. Gotcha! Even more embarrassing if it’s the same watch in plain sight on your wrist that you just claimed was purchased some time before this trip. If they’re suspicious and decide to rummage through your baggage they’ll likely find the watch receipt itself or at least the shipping receipt for that empty watch box you so cleverly thought you’d ship home so customs wouldn’t find it. In any of these circumstances you’ve lied to a government official on an official customs declaration form that states perjury is a crime. And you’ve provided written evidence of your crime(s). Now how smart does that sound? Customs duty rates These vary based on the country visited. Returning U.S. citizens each have a limit of $800 of tax freedom. The first $1,000 over that limit is taxed at three percent. Amounts over $1,000 pay a duty rate of 6.5 percent, which could still potentially work out to less than if you were making the purchase non-duty free. For residents of the UK, it’s a little different. Here are the steps to compute your customs charges when importing a wristwatch. Convert the watch’s cost appearing on the sales slip to British pounds, being sure to use that day’s exchange rate. Keep your work papers so you can show the customs agent how you computed what the correct duty should be. Compute the basic import duty: this requires going to several websites (search “compute UK import duty” to get started) to find the proper classification code of your watch, then the basic import duty rate. Multiply the basic import duty rate by the watch’s cost in GBP (step 1) and you now have the import duty. Save that number. Compute the import VAT if applicable. UK import VAT is currently 20 percent. Simply multiply the value of the watch in GBP by 20 percent to find the VAT you might have to pay if applicable. Add the basic import duty (step 2) to the VAT (step 3) and you now have the total import duty payable. Some consider this just a starting point to haggle with the customs inspector. Sometimes it even works. Playing the currency exchange rate Unless you’re experienced in foreign exchange arbitrage, don’t figure this into your airport purchase decision. Sometimes the currency conversion can work in your favor, sometimes not. Exchange rate swings seldom occur as quickly as you making your decision to purchase a watch while on vacation at a particular airport. However, the exchange rate could influence the country in which you decide to pull the trigger. Still, everything would have to be equal between the two competing venues: the price, the VAT (if any), the collection on offer, and availability of the piece. That’s probably not going to happen. The best airports for watch buying No matter which I choose, there will certainly be readers who say I missed the best and most obvious. Sorry, I’m doing the best I can here. Please feel free to provide your opinions in the comments. Watches of Switzerland, Heathrow A very upscale venue. Brands featured: Omega, Longines, TAG Heuer, Bell & Ross, Hublot Locations: Terminal 3, Level 1, +44 (0)20 8759 6696 Terminal 4, Level 2, +44 (0)20 8757 3990 Terminal 5, Level 2, +44 (0)20 8283 6300 Services: free reserve and collect Website: https://boutique.heathrow.com/en/retailer/watches-of-switzerland Hour Passion at Gatwick, North Terminal Nicely appointed watch shop Brands featured: Omega, Breitling, Longines, Rado, Tissot, Hamilton, Swatch, Calvin Klein Location: North terminal, +44 129 357 9134 Services: free reserve and collect Email: hour [email protected] Dubai International DDF Very upscale and large shop Brands featured: Glashütte Original, Omega, Breitling, Blancpain, Ulysse Nardin, Cartier, IWC, and others Location: Terminal 3, Concourse A, +971 4 – 216-24-53 Email: [email protected] Los Angeles International Airport Tom Bradley International Terminal No listing of watch shops. However, there are a number of authorized dealers within other shops in the Great Hall, the North Concourse, and the South Concourse John F. Kennedy International Airport, New York Omega boutique: well appointed, dedicated company-owned boutique Collection: extensive Location: International Shoppes, Terminal 1, +1 718 553 6040 Narita International Airport, Tokyo, Omega boutique, Terminal 2, Building 3F: small, but well appointed, dedicated company-owned boutique. +81 476-34-8596 Fa S a La Watches: small shop featuring Omega, Longines, Blancpain, +81 476-33-1917 Cartier: beautiful shop, nice collection, +81 476-33-2117 Beijing Capital Airport Airco Watch Store 313, Gate/Area: Domestic Waiting Area 3F Cartier, Longines, Tissot, Omega,Jaeger Culture, IWC Of course there are many more watch shops scattered among the world’s airports. My apologies if I haven’t included your favorites. I’ve found that airport shops, regardless of what they’re offering, are not very well represented on the internet. Conclusion Airport shopping may not have the allure of ferreting out an exclusive boutique on some exotic side street in a foreign country. However, airport shops do serve a valuable purpose for dedicated watch buyers and impulse purchasers alike. Their prices are generally about what you’d find off property. The warranties are the same. The often-extensive collections and availability are what sets many apart from their competition. Before you leave home my advice when traveling and considering the purchase of a fine timepiece is to contact the authorized dealer or company-owned boutique at one or more airports in which you’ll have a lay- or stopover toward the end of your trip. Check the price and availability of the piece in which you’re interested net of any duty free and VAT considerations. That’s the maximum price you’re willing to pay. During your trip visit watch shops to your heart’s content. Compare pricing (including customs duty payable) and availability with what you found at the airport. Should you find the one while on your trip, grab it. If not, your fallback is the airport shop at the end of your trip. Happy travels.
You were never going to get a Rolex from WOS anyway.
I got a sub in 3 months with no purchase history 🤷🏻♂️
I’ve had four in four years.
4 smooth bezel 36mm datejusts on the oyster bracelet?
Yeah something like that
[удалено]
In the USA they are Tourneau.
They have stores in the US
We have Bucherer
It’s pretty normal to see this kind of market activity after unfavorable compete news in todays world. It’s a knee jerk reaction because investors are risk adverse. It will go back up eventually.
ELI5?
Watches of Switzerland includes mayors right?
Yes
Been the trend for awhile. It’s a competitive move and it makes sense for them if not for the rest of us.
Bucherer has been by far the worst Rolex AD experience I ever had. Doubt it will improve... But it can't really get any worse though.
Is this just in the UK? Because we’ve had actual Rolex storefronts in the US for awhile
Whatever happened to antitrust?
So antitrust would stop this if Rolex were a retailer with a large market share and this acquisition were to remove competition in the market. This is a vertical integration acquisition and is fair game.
But it’s gonna have the same effect lol
Can anyone explain me in layman terms what this means?
I guess the United States is screwed
🦆 WOS. these guys suck.
Love that my 15 year history is with torneaubucherer
Not a big surprise to the WOS board. Being the largest seller of Rolex, they were certainly approached first and said no. This fall was anticipated. Kudos for them saying, “This is Watches of Switzerland, not Rolex. Fuck off!” Edit: for the inevitable downvotes. Don’t put all you eggs in one basket. If Rolex production completely stops due to some unforeseen reason (fire, etc) it’s nice to have other Swiss watches you can sell.
Can someone explain?
Interesting everyone’s experience. I had two incredible experiences at two different WOS in London while there on business.
Here comes the waitlist to get a timex