Every time I pass a Rolex shop and see people queuing outside hoping to buy a Rolex (a common occurrence in Tokyo, where I live), I roll my eyes and immediately think, you’ll come out empty-handed. It’s the reality, isn’t it? Not so fast. There are ways to get the Rollie you’ve been dreaming of, whether it’s a discontinued model or not. But where do we start?
To tackle all our burning questions about how to buy a Rolex, I caught up with Danny Shahid, the luxury watch expert behind Diamond Watches London in Mayfair’s Burlington Arcade, and Dillon Bhatt, watch and lifestyle expert and founder of LuxForte.
Bhatt: Rolex is a staple brand. They do everything correctly, from product, to marketing and everything in between. Due to this, the demand has increased exponentially over the past few years, and supply just couldn’t keep up. Whilst Rolex isn’t necessarily a completely handmade watch, the ideology that a Rolex can be your first watch or your 100th still stands true, thus it can appeal to all demographics — something that other brands just don’t have.
Shahid: Clients are mostly after a stylish treat or an investment piece which will increase in value over time. Like fashion, there are always circular phases in the watch scene and different Rolex models are hot each time. It’s these trends that tend to drive what my clients are looking to buy. If it’s for an investment, the client has usually heard from a mate or a blog about the appreciation of a model and wants in. Day-Dates and GMT-Master IIs with rare features or a bit of bling are usually popular.
Bhatt: If you’re looking for a specific model within a specific time frame, I would suggest looking on the secondary market, as stock would be more freely accessible. In some cases there would be a premium for going to the secondary market, however in others you might actually save some money, as many references are trading below retail price.
Shahid: Everyone’s heard how impossible it is to just go into a Rolex boutique and buy a watch, because of exclusivity and supply. Waiting lists can span many years, so making an immediate acquisition can seem unfeasible. I suggest doing your own research online and then taking the time to personally visit a reputable, authorised watch dealer (AD) who can take on that task for you and drastically reduce your browsing and waiting time, easing the feeling of frustration.
Bhatt: Times have changed, and markets have adapted within the past year and more specifically within the past few months. There are very few watches that I would suspect you would need to get on a waitlist for. Rolex ADs have stock coming in, and whilst there still is enough demand to sell all their watches, they have to work a bit harder to do so. Apart from the usual suspects such as a steel Daytona, Steel GMTs, most watches are available to purchase — not necessarily at the time of going to the boutique, but after inquiring, you should get a call back within a few months or so. That’s not because there is a waitlist to go through; more so due to the fact that ADs are completely unaware of what stock will be coming in. How it typically works is that ADs will get a delivery once every two weeks/once a month, with unknown stock.
Shahid: I always recommend a decent Daytona. Not the fancy shiny new ones that are being released in recent years, but a solid Zenith movement piece that has a timeless look, as well as great value retention. This Cosmograph Daytona is a good example.
Bhatt: The ones that catch your eye. There is so much to choose from within the current catalogue without looking at older models and vintage pieces. Think about your lifestyle, what you enjoy doing. You can’t go too wrong with a Rolex, they are all incredibly durable and if taken care of, will last generations.
Shahid: It’s definitely a good idea. Watches are only becoming more popular and their demand is ever increasing so, if you want to stand out and be a priority, that bond with your dealer will put you at the forefront when they acquire a sought after watch you’re after or something you’d be interested in. You don’t have to do anything dramatic or force a relationship — just keep it organic and get to know your dealer on a personal as well as business level. Ideally, you’d be able to purchase a lower level watch from the dealer as a starting point so when a special watch comes along, the dealer is more likely to favour you as you’ve already invested.
Bhatt: It really depends on how much you are willing to invest into this hobby, not just financially, but also time and effort. If the answer is an abundance, then I highly recommend starting a relationship with an AD, show your enthusiasm and passion, start with some “entry level” pieces and work your way up to the “rare and exclusive”. Who knows, you might be rewarded along the way. There are opportunities to get invited to certain events with other enthusiasts and meet like-minded individuals whilst getting opportunities to secure your grail watches. If the answer is very little, then I recommend walking into a reputable secondhand dealer and picking up a watch and enjoying it from day one.
Shahid: My biggest tip would be, after doing some fact-finding on your watch of choice, put more effort into researching your dealership. How good are their reviews? What’s their after-sale service and warranty like? The watch industry here in the UK is especially small, so word of mouth is your friend!
Bhatt: Be honest and genuine. At the end of the day if your AD likes you, you’ll have a better chance than if they don’t — simple as that! Additionally, persistence is key with your AD, going to visit them every now and then and giving them a gently and friendly nudge so they don’t forget you is OK. No one likes needy and annoying customers, so don’t go overboard.
