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This 2 free week return policy is kind of crazy, like you said Oisìn, wtf! It was nice to have Lenny on the show again! Thank you for sharing Oisìn 👍
Look up distance selling regs & specifically returns; they have no choice in many countries.
I was going to say distance selling regulations is a legal requirement
Maybe they will have to check it over to make sure someone hasn’t knicked the movement or something lol
One guy wrote in to Fed's channel and said he sold all his Rolex's and got into other brands, said he was glad to get the rolex stink off himself. I love it!!
Thanks for the tip. I have a special event coming up and would certainly love to be sporting a nice shiny piece. Cheers!
For the returns policy perhaps they add a security seal to the watch which if broken voids the return
Good questions. Doesn’t seem to fit the Rolex company image/philosophy. But hey!! We love to hear from Lenny! 😁👍👍
I checked out the French online outlet and that was insane. I guess Rolex can sell their new watches to the dealership and sell them at an even higher prices as CPO and book sales twice. What a concept!
where did you find the online outlet? I cant find it
Watches sold through the Rolex CPO program are minimum three years old.
@@mmelancon9543 they will issue new card and perhaps change dates
Fourtané Jewelers in Carmel By The Sea CA. is renowned for its curated selection of fine estate jewelry and both new & historically important vintage watches. Fourtane sold some of the finest Vintage Rolex watches in the world, got to the point where Rolex wanted to look into all Fourtane` Rolex pieces to make sure everything was factory parts and after flying through the process they were asked if they wanted to be a Rolex AD! Have been an AD for years while still have an amazing vintage collection and a great family owned business to boot!
Its a case of social media influencers hiping a way over priced product . Rolex is way over priced for the quality and finished and now they are taking even more advantage of an idiotic situation. So many brands creating as good and better watches for much less. I just hope common sense finds its way back and people realise they are being taken advantage of .
Good to hear from Lenny!!!
For me it is hard to trust the grey market. Knowing nothing about Rolex i went to a dealer in the jewelry district of downtown Los Angeles to buy one to commemorate surviving my last tour in Iraq. I bought a beautiful datejust but quickly realized it was not running properly. I took it to the Rolex service center in Beverly hills. The embarrassment i felt when they handed me the watch and told me it was a fake! Devastating. Turns out the original dial was modified with diamonds. The dealer would not return my money and i threw it in a drawer where it has sat for two decades. My story is probably pretty common so i can see using the cpo program
Why did u not bring the dealer to court ?
@@montha123 i should have. To be honest i did not think of it. I couldve pursued a civil claim. I was angry and embarrassed. I did not have much money then and saved during my entire deployment for it. I chalked it up to a good life lesson learned and now, rightly or not, only purchase via an AD. I am thankful i have a great long term relationship with an AD. However the lesson for me was to educate myself on the watches i wanted and buy only from authorized sources. I understand there are a lot of honest dealers and i am not disparaging them.
@@EQ9962 yes I only buy from authorised dealers it’s just too much money to take a chance on , plus I ain’t paying over RRP for no watch from a grey dealer or anyone else
thx 4 ur service!❤...dont worry to much about the watch, omega and jaeger lecuture , zenith, and some chinese esoteric watches are great❤
all of his concerns sound like gray market fears. The reality is that the markup on these things are so high, Rolex doesn't give a damn if you do any of these things. Watches aren't rare, they are just expensive, especially compared to cost. This is the beginning of the end to the watch hype craze. Which is good!
The grey market's bread and butter are new hype Rolex. The program doesn't sell Rolex watches older than 4 years old. Even if they up their prices on old undesirable Rolex watches from 5-10 years ago. The grey dealers will need to stay competitive. Prices would need to stay the same or way under what certified used Rolex program sells them for.
Always love your content.
very good video and the points you make are so correct. It is certainly going to be interesting.
I do not see the watches or where to add to bag on the Rolex site?
If you think a Rolex is expensive you should try buying a cup of coffee in St Marks Square! 😂😂😂
Oison. You're about the only You Tube watch guy I watch anymore. Your creativity and down to earth honesty make your watch videos among the best on You Tube. As for me, my next Rolex will probably be gray market. While the newer GMT's, Subs, DJ's and Explorers are no doubt top notch, I prefer the older discontinued models. I have the Omega Speedmaster 861 like yours and have to agree. It's a classic. Cheers to you and Lenny. You two are the best.
What makes you think the newer watches from Rolex were 'top notch'? They are still putting out the same old crap as before. No drilled lugs, cheaply stamped dial, undecorated movement, ugly green box, terrible customer service...etc.
@@bigmacdaddy1234 Oh well!!!
At least spell his name right 🙄
Rolex has become the Budlight of watches and people need to put them in their place.
Never gone to a Ferarri dealership, or even try to buy a C8 Z06 Corvette. That’s ridiculous. Rolex isn’t really out of line.
Just regarding the pricing, these were the same issues I brought up when they first announced this. I think their get out of jail card is basically that many Rolex Customers are not enthusiasts. They likely only resort to the gray market when they can't get them from the AD. The biggest head scratcher for me is selling used watches for more than new ones? It might undermine Rolexes' credibility with their customers? Surely, even the casual shoppers will notice the used watches cost more? It honestly looks like a house of cards that's ultimately going to collapse. Over time, they'll either give up on it or sort out what actually works. 🙄
Credibility really!! They are just looking to benefit from the grey market and see another source of revenue.
@Mark C I'm sure that's what they're trying to do, but imagine your Joe blow off the street and all you know about Rolex is that they're Rolex, and you want to represent at the country club? You go to the AD and they don't have that $11,000 watch, but they have CPO, a used watch for $16K!?? Joe's going to think he's being taken for a ride! So, yeah, credibility is a huge factor, and Rolex makes bank on their reputation. That's how they already sell their watches for as much as they do. Then, on top of all that, new supply is starting to catch up with demand. What are they going to do with CPO if it gets to the point they have new stock in the safe? Nobody's going to want to pay more for used! This will only damage Rolex as a brand.
As a buyer how does one distinguish between a "new" watch against a cpo watch at the AD? Old ones polish up nicely on the outside but who knows about the state of the guts? You can definitely feel an old watch just from the looseness of the bracelet links. I know my local used watch sellers buy up watchs at estate sales etc and throw on a new bracelet. My rolexs are engraved on the back cover with a date and a note. Are used cpo's engraving free? Like to hear a comment on this one. Who would want to buy someone else's rolex engraved with their personal note? Maybe a family hand me down but a complete stranger?
They will eventually discontinue selling brand new watches through AD’s but then filter them through to the pre owned method enabling them to triple up on profit…
Maybe it's to stop flipping by allowing AD's to sell used and get some inflated income, by being allowed in the used/grey market, and it might work because of trust over Grey Market
I don’t understand either! If you buy through another certified program on the grey market, you also get guaranteed authenticity, pre serviced, usually a couple years service guarantee for the same prices! I’m definitely not impressed & fortunately not looking for another Rolex at this time…
I can’t find the capo watches in us on the website or anywhere else. What I’m I missing. Why can’t I fix them?
I saw in part of a glass case 3 Rolex watches, CPO, in the Macy's department store in the Ala Moana shopping center , Honolulu , Hawaii
I’d be interested to know as a seller who would give the best price to buy a used Rolex? If the CPO selling price is higher than Grey.. would CPO offer more for your used piece?
They must buy them back at or near market otherwise no one would sell to them...good question
@@vijaymehra1101 it depends, I imagine it would be used as a trade up type of thing to guarantee getting your Pepsi or Daytona
@@vijaymehra1101 I don’t think it would be near market price as they wouldn’t make any money. I imagine their required margin would be higher than non authorised dealers which they will explain away as needed to support their overheads, guarantee, genuine servicing etc. however I was really questioning whether they would offer more than other dealers due to more headroom in their resale price…. It’s clear what is attractive to a buyer but not a seller unless you’re trading up.. (e.g. if you need cash)
Grey market will rising
Bought a G-shock at Walmart for 38 bucks it was not CPO.
Was in Weir & Son in Dublin yesterday asking about Rolex surprise they don’t have any for sale however did have some to show me . Asked what I would be interested in to which I was told I would be better going for another piece build a history with them and this will help Me down the line . Now as they had no Rolex Watches for sale I have been trying to get the Tudor Pelagos FXD and am on a number of lists . I did ask did they have one to which I was told they may well do however probably just to try on . They brought one out which turned out to be available and I purchased the watch . Whilst in the room sitting down I was given a sea dweller and sub to try on again not available for sale but was interesting to try both on and now I am on a list for a Rolex watch I have been unable to get on elsewhere even though now I have 5 Tudor watches in my collection . Originally wanted a Hulk some years ago now and because I could not get a Rolex from an AD anywhere I ended up buying Tudor instead . One day I will have that Rolex from an AD Great video as usual Oisin ☘️
Oisin its real crazy! I picked up my GMT steel and rose root beer couple days ago from my local AD my 4th watch so far and i love the GMT! what a piece! love your content. from bristol UK
Brand new AD Rolexes are basically just a discount for celebrities and VIPs, the normal plebs now have access as well but at a premium
Rolex are pushing their watches as Investments. If they can show the market that older used pieces are officially worth more, it will only further fuel demand for their product
Can someone tell me how do i view the cpo watches, i was on rolex website , but i cant see where to view.
Good for Rolex. Its thier product. They have more of a right to profit than some grey dealer.
3:22 camera man knew what was up😅
Rolex, indeed, priced themselves above the second hand market, but they offer: -a watch that has been serviced by them (if grey market dealers were to send the watch to Rolex for a service before a sale their asking price would be higher) -a warranty (6 months if I’m not mistaken) -a watch that comes with a slew of papers (albeit not the original ones) -a watch that comes with the extra links as it is supposed to (greys often size the watch to your wrist and keep those links to themselves) -a watch that’s not franken in any way -a watch that can be returned under 14 days no questions asked -a watch that is shipped to you and insured by them “free of charge” regardless of where you are located For some, it makes sense to pay above market value for all of this, btw, no grey market dealer could offer that. Regarding the fact that they don’t adjust the prices based off the year but based off the model, my explanation is that the watches are supposed to last a lifetime anyway, they have all been serviced by Rolex, with Rolex parts, before the sale, so for the new owner that’s another seven years without having to service the watch. To boot, Rolex select the watches they buy so what’s the difference between: - a gmt 2 from 2008 that has spent ten years in a vault before being sold back to Rolex and serviced and another gmt 2, sold in 2017 then out for three years in a vault before also being sold back to Rolex? None, after being serviced, the age of those watches is utterly irrelevant and the new owner can, I repeat, go seven years without having to worry about it.
Seven years or more. But that is not so much the point. The point is taking out of the equation that whole exclusivity and human experience. I guess that really is a downer. Like I wrote in my comment after yours.
The point that they don't adjust prices based off the year, but off the model...like Oisin, I would go for the newer model just based on the potential movement change. So for example with the GMT 2 from 2008 it has the caliber 3186 while a GMT 2 from 2018 would have the caliber 3285. Obviously many may prefer the older movement, however I would go with the newer regardless.
Dude just say you’re in the Rolex circlejerk along with the others. People paying $20K for a GMT Master II are desperate for attention and validation…no way around it.
Was contemplating picking up a 2007 Pepsi from CPO in uk now not so sure 😕
There will be a market correction as to this CPO.
Happy to see Venice again ....thanks . Greeat place . I lived in the area many years ago and was coming regularly for and afternoon or late evening or several days there. Actually I wear Meccaniche Veneziane ;))). Good looking watches . Un salutto e vai piano con il prosecco ;))). Edit .Sei vicino al Gran Caffe mi sembra. They had a great irish coffee there .
Great video!
Why not just sell new watches at a higher price and I'm sure the demand won't drop off say about 50% and sell the new ones below the new prices.
The 2 authorised dealers in the Netherlands are selling for over years pre owned watches.
Trust the Dutch. Always know how to turn a buck
Big hug from Portugal mate!
Lenny speaking truth to the masses
Message to Oisin’s 80,000+ loyal subscribers: don’t buy Rolex CPO. Let the inventory sit at the AD until prices come down significantly. We have the buying power and just need to be patient.
I won’t
They should be priced at a DISCOUNT to MSRP
@@oaktree1628this would be great and morally correct, it would also shaft the greedy greys.
went in the store, it doesnt feel right seeing them marked up so high gold day date was 25k! 18238s go for about 12-15k wtf rolex
The add to bag button should read Mazal
😂
How many of each model of a given year do they have? Like one of each?
I'd expect that Rolex would implement a void return if tampering or removing a sticker or makeshift tag that is highly visible. This to combat the exact scenario of free rental, that you described? If not then I'd never chance buying one.
Are the Rolex CPO watches only available on line or do you order and take delivery from a Rolex AD?
I believe you can currently go to a Tourneau/Bucherer shop as they are the only ones to start the program in the U.S. for now, but call your closest one to be sure they kicked it off.
Seems to me back in the 80's and early 90's there were some reputable jewelers around here who sold some used Rolex watches for less and sometimes quite a bit less than they were new at the authorized place. Was that an anomaly or is what is happening now different than in other decades?
It’s only been about the last seven years or so that used prices (for the popular models) have been higher than new. Social media has been the major influence of the used price increases.
can't wait to buy one
So this all but guarantees the AD won't get my money. I'm not paying 400 percent more for a watch used than what it was new in 2008.
The free shipping will attract people who are nuts at those prices 🤣 ,this program was thought up and put pipeline when the the market was going up crazy , there cost to buy and sell back to the market will always be higher and make us dealers look better ,Thanks Rolex for once they are helping 👌 ,I asked the local AD and they apparently need to send the watches back to Rolex to appraise before they can offer ,how long does that take.😂 .the dealer/watchmaker can give the customer answer on the spot . Was just at the Piazza San Marko yesterday 👌
Hey, thanks for telling me about their 14 day rental program.
Omega has had that add to bag for a while. Grand Seiko as well.
You didn't expect Rolex to be innovative? Shameful. I jest of course.
Donnie Sr., actually grew up in a house in Jamaica Estates (Queens, NYC) blocks away from where Dirk grew up! 🤣
The used one pre 32XX may cost more because these calibres were found to be unreliable… I think why not ? After all the Rolex CPO just brings another offer to the table for customers to choose from. The Rolex CPO, if successful may lead Rolex to gain more control over their watches second hand market pricing which in turn may influence the grey dealers prices too…
It would be interesting to have a watchsmith weigh in on the condition of the movements etc. in the CPO watches. One of the German watch guys said that Geneva would not service the CPO watches but would instead replace the movements and bracelets. This would change the value proposition as it would render the often more desirable older models as good as new.
CPO watches are refurbished by Rolex for goodness sake
CPO means “CERTIFIED” Pre Owned. The Rolex service is to verify all parts are Rolex and repair/replace parts as always with any service. No, you don’t get all brand new parts and bracelet.
@@williamumbach592 the “exhibition only” watches are the CPO watches
Rolex has lost their mind in general!!! Why is this any different😂
Yes!! Lenny is back and my favourite version of the theme music! Also, a Rolex have lost it!! Or have the people who buy Rolex?
All these games Rolex likes to play. What’s insane that people actually play along with AD standings, grey markets, and wait lists. This is such a compete waist of time, energy, and money for a fashion brand.
Oisin is a man of superior taste! looking well brother!
What’s the name of the website?
Yeah Bro crazy!!
Can you tell me please the website I can see the watches available?thanks🥂
Tourneau
Can someone tell me why I can't see this page on their website?
Howya NO INTEREST in Rolex, ( No Disrespect) Just saying Hi..Man.😎🤘🙏🙏🙏
All Rolex have to do is refuse servicing watches bought from a grey dealer, then overnight the CPO hang tag will be like gold in the bank. They could just come up with a policy that if you haven't bought a new Rolex from an AD or on the CPO program your Rolex can be assumed fake & they can either charge you a fortune to service it or refuse a service altogether. This would alter the market in their favour & grey dealers will panic.
Oisin here in the uk. Rolex authorised ADS have specifically excluded any Rolex model under 3 years old. They May be doing the same thing in America. Not sure what year the root beer or Pepsi were released. I have seen the older model Rolex Batman from 2013.
Same approach in US, AD’s will not stock CPO’s under 3 years old.
This. pre-owned Rolex at the AD has been going on since Sept in Fort Lauderdale
Nothing is mentioned regarding the loss of the original papers. I guess roles just shred them?? Seems a bit odd.
People should abuse this return policy…The ‘companies’ only learn one way and that is to hit them in their wallet/bank accounts…
1.If it adds to your spend history it may be worth it. Allows you to get watches at retail. So what if I have to by 4 Cpo watches that I like anyways who cares if i pay an extra 15k. 2. If they are paying strong and only profiting slightly more than the gray market. It will kill a lot of the gray market. 3. To conclude buy a cpo watch at 15 k selling it back to them for 125 is the same as a gray market dealer buying 12 selling back for 10. ESPECIALLY if it adds to my spend history at that AD.
The 14 days walk away right at least in Europe is provided by law if you purchase on line any good, so for us not big surprise, might be different in the US but I see their point
What sunglasses do you where make and model love your shades and shows
For the cocaine premium you pay... you get a 14 day cushion... at least you get something.
If rolex services your watch themselves, they'll add metal where there's been polishing previously to make sure it's factory finished. So to them, the age of the watch should not matter much if any.
I don’t see gray market dealers upping their prices to match Rolex. There are 116713LNs sitting unsold for a while at gray dealers for $14k. Increasing the price to $19k to match Rolex isn’t going to make it sell faster. Gray dealers need the cash flow - Rolex doesn’t. That can sit unsold from Rolex forever and it makes no difference to them.
I'm sticking to the gray market. 24 chrono.
Where did the watches come from?
Fascinating.
I guess Rolex have now added an inherent .. intrinsic value to their watches... They are saying we have put our name on it again.. and all it entails.. and we do not want the gray market devaluing our brand. Therefore, in that sense it is a positive development that they charge more. The watch so to speak is no longer naked... it has provenance. Yes, the emergence of a third market from which to purchase a watch may have ripple effects into other brands. I agree, whether or not it is the AD that is selling it.. Rolex are still in control. I am just surprised it took them so long.
As to why the watches MUST be minimum of 3 years old. New watches come with 5 year warranty, the CPO watches come with 2 year warranty. So if they were to sell a 1 year old/used Rolex in the CPO, the original new warranty is longer than the CPO one, no advantage there to purchase CPO.
reason you would take older version is availability. pretty obvious I think.
Another piece of the puzzle slips into place with the acquisition of Bucherer.
So this is like a Mercedes-Benz dealership selling their used cars for more money than their brand new cars lol.
When I heard Rolex was getting into the CPO watches, I assumed they were going to undercut secondary market prices & grab market share as a result. Now I don’t think the secondary market has anything to worry about.
Thats what i hoped would happen. Sigh😢
Link to US CPO site?
I think one of the biggest disadvantages of the CPO program is that you don’t get the original box and papers with the watches.
Yeah. I usually wear the watch on my left wrist, and the box on my right. Really degrades the whole experience.
@@justmeeagainn Hitting the crack pipe again, I see.
That depends. It's up to the individual AD how they handle the original stuff if they have it. I heard it's not unusual that they give you both in that case. Definitely something you should ask for at least.
Yes you do everything follows the watch service records everything box and paperwork no good to previous owner
@@justmeeagainn You could put your ashes in it.
Where do you think these used rolexes are coming from? From the grey market of course. So of course they are more expensive.
Return policy is mandatory since you engage in online shopping
Nice one, get rid of the drummer on the intro.
I am easily pleased, all I want is a Rolex Oyster Perpetual, stainless steel, black, blue or white face. Not to buy and flip at a profit, but to wear and enjoy for the rest of my life. I'm an ordinary working class guy, Is it too much to ask?
So where did they get the 1000+ watches for sale?
Rolex have a choice. They could simply double/triple the RRP on their popular models, and get a bigger slice of the action that way.
I bought a gmt black last week 2017-2018 £11.500 full set and been serviced was that a fair price do you think
Yes
Rolex could shut down all of their outlets, and then have a monthly auction. They would make so much more money in sales not to mention the savings in overhead. Opening bid would be retail price. Also, I'm currently negotiating for a 2008 116710 at 11,250 USD with box and papers.
Screw Rolex and their BS CPO pricing. Buy Omega or any other brand of your choice🤔
Cpo are meant to looklike new, so they can move those Brnew units to Cpo shelves amd reprised it higher, why not isnt it
i heard that rolex would touch up the cpo watches ?? is that true ??