Luxury Discovers The Internet

The Rolex Submariner Ceramic and the Rolex Deep Sea are still in short “pre-owned” supply with more buyers than sellers.  The new Datejust II, GMT Master Pepsi Dials and Presidents held strong for the first quarter 2012.  And, like our friends who sell other luxury product lines like jewelry, apparel, and hand bags, the Internet has brought on a whole new level of competition. Gilt, Portero, and others are now trying to leverage their broad reach into the used Rolex market but have found the acquisition of product challenging.  And top luxury goods companies like Prada and Gucci have always prided themselves on offering high-quality, limited products in luxurious surroundings. But the Internet is changing that. Luxury consumers can now shop online and save substantially in addition to that trip to Rodeo Drive or 5^th Avenue by choosing instead to shop online to buy a pre-owned Rolex watch or a Birkin Bag by Hermes with the click of the mouse.  Sites like ShopBop are visited by the thousands each day. 

The idea of a secondary market for pre-owned Rolex watches was long overdue for an efficient marketplace where buyers and sellers could buy, sell and exchange watches.  This exchange, or Rolex Exchange as we call it, ensures that used Rolex buyers are buying at market value prices and sellers are selling at market value prices.  Paul Altieri, our Founder and Chief Guru, proclaims the belief that buying a pre-owned Rolex watch online should be simple, honest and without risk.  That is why Bob’s lists both buy and sell prices side by side and guarantees and certifies every Rolex on the site.

Milton Pedraza, head of the Luxury Institute, agrees. Wealthy baby boomers, he says, “want to forgo the burden of ownership” and “would rather collect experiences”, so a secondary market makes sense when they tire of their goods. “They would rather leave their heirs a portfolio of investments than a lot of possessions.” François-Henri Pinault, chief executive of PPR, the French luxury and retail group that owns Gucci and others, says that provided the product is legitimate, a secondary market could be good news because it educates consumers about the brand. “ Its effect in the long term may be “slightly positive”, he says, in that certain consumers may be encouraged to buy a luxury item if they believe and can see that it has resale value.

Are People Still Buying Luxury Items Like Rolex Watches?

In light of the current economy, we are often asked this question by Rolex Enthusiasts. Current news headlines reveal some surprising trends from the West to Hong Kong. According to Routers, luxury goods are alive in well in both the United States and Asia, as 2012 first-quarter sales were 25 percent from the fourth-quarter 2011. This may explain why the Bob’s Rolex Exchange Program has seen tremendous growth over the past few months and why Rolex continues to release new models to market.            

New Rolex Model Launched!

Rolex recently announced the release of the Rolex Sky Dweller, one of the most exciting watches in their repertoire. The luxury watch is the first Rolex to elegantly display two time zones, which is ideal for those who travel from country to country to meet the unique demands of their lives. Rolex selected Roger Federer and Tiger Woods to be the official spokesmen for the Sky Dweller and both stars were a part of the official launch.

As a part of their launch effort, Rolex also released the Rolex iPhone application, which allows for you to interact with a digital version of the Sky Dweller. The download is free, and the app also features most of Rolex’s top models including the President, DateJust, Submariner, GMT, and more.

Rolex Sporting News

Rolex continues to sponsor some of the world’s greatest athletes and sporting events. From winter sports, to tennis, to golf, to Nascar racing, and equestrian sports, Rolex continues to lead the way.

For instance, tennis star Raphael Nadal just made history with his Monte-Carlo Rolex Masters victory and the 2012 Rolex Kentucky 3-day equestrian is set to begin, drawing riders and spectators from around the world.

Rolex in everyday fashion.

• Women continue to wear men’s Rolex watches more and more especially in the European countries.
• Rolex fans all over the world are choosing to interchange dials and bands with bright aftermarket pieces.
  
• Rolex fans are becoming younger and younger- there is a overwhelming growth in the "Young Rolex Community". Rolex isn't your Grandfather's watch anymore.
  

While markets are soft for Rolex DateJusts with Jubilee bands, as well as for Yachtmasters, experts say there’s no predicting where those markets will go.

There is no shortage of Men’s and Ladies’ DateJusts with Jubiliee bands in the pre-owned Rolex market. Some Rolex dealers have stopped altogether buying condition-4 Rolexes with Jubilee bands. Bob’s Watches continues to buy them, but has adjusted its prices accordingly.