Malaysia Watch Forum
Main Forums => General Discussion - Modern Watches => Topic started by: x-1o8-x on May 14, 2022, 01:50:39 AM
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I've heard stories of ADs banning buyers that flip, but those seem to be mostly in overseas and so far I have never heard of such case in our country.
has anyone of you ever get blacklisted for flipping watches? if yes, did they tell you about it or did you find out only when you asked for another watch?
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From what I gather, mainly for Rolexes, upon being allocated a watch, your name would be submitted into the system for verification. After a few days of vetting, only then would you be given a confirmation whether the watch is yours or not. Not sure what are they vetting though...
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That's an interesting notion, although I doubt anyone who's actually been blacklisted would actually bother to admit to that fact though
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From what I gather, they check the phone numbers of certain ads - especially for brand new / unworn / Local AD sets.
They will block small time flippers. But the established grey dealers...got Vibranium cable.... :HammerHead: :P
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From what I gather, they check the phone numbers of certain ads - especially for brand new / unworn / Local AD sets.
They will block small time flippers. But the established grey dealers...got Vibranium cable.... :HammerHead: :P
hahaha very close relationship indeed ;D
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I'm sure we all love to demonize ADs or SAs that we cannot get pieces from and accuse them of backdoor agreements with grey dealers but the truth is most of the watches come from preferred high-profile customers who discreetly offload selected pieces to the grey market "boss" who then passes them on the grey market dealers. Some grey do of course have good connections with ADs.
I have heard from one of the major AD that they do actively check for flippers and the company does in fact have an IT section that checks on any re-sale of pieces to determine if it came from their sales network. Of course they can't catch every single sale but action has been taken before to ban any future sale of Rolex to said customer(s) and even the SA responsible for the sale is investigated for collusion..
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From what I gather, they check the phone numbers of certain ads - especially for brand new / unworn / Local AD sets.
They will block small time flippers. But the established grey dealers...got Vibranium cable.... :HammerHead: :P
Grey dealers surely have their pool of customers who they sent to the AD building purchase history and collecting their Rolex pieces. AD can just blacklist those names, but eventually, they surely can find some new names to start repeating the process again at the AD.
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Based on what i heard from a reputable AD whose logo looks like an hour glass, it's almost impossible for their sales associates to "collude" with clients to flip their allocated pieces for a profit now. Apparently HQ decides which stores get allocated what pieces, then it's up to the store manager to distribute them between the SAs.
Unless you got direct cable to HQ la, then different story. :Laughing_on_floor:
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As long as human is involve in the process, that's always loopholes for the AD/SA to sell watches to the flippers.
The action of "flipping" is an arguable term like our political situation of "jumping ship", complicated and difficult to stop.
Maybe, there should be some contractual binded terms and conditions between the AD and buyer, i.e. if the buyer want to sell the watches in say within 3 years, the buyer must sell it back to the AD at certain agreed price. Else, the action will be deemed as "flipping", and their names will be blacklisted for life by the AD. ;D
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Rolex should have used Volvo's tagline la... "For life."
:Laughing_on_floor:
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I've heard stories of ADs banning buyers that flip, but those seem to be mostly in overseas and so far I have never heard of such case in our country.
has anyone of you ever get blacklisted for flipping watches? if yes, did they tell you about it or did you find out only when you asked for another watch?
You just never get anymore further allocation.
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Can't decide what's worse: being cut off from anymore allocations, or not getting any allocations at all :Laughing_on_floor: *sobs softly in pleb*
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Can't decide what's worse: being cut off from anymore allocations, or not getting any allocations at all :Laughing_on_floor: *sobs softly in pleb*
True true
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I've heard stories of ADs banning buyers that flip, but those seem to be mostly in overseas and so far I have never heard of such case in our country.
has anyone of you ever get blacklisted for flipping watches? if yes, did they tell you about it or did you find out only when you asked for another watch?
Sayang u sold your Exp II within a month... hopefully dun kena tangkap :-X
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I've heard stories of ADs banning buyers that flip, but those seem to be mostly in overseas and so far I have never heard of such case in our country.
has anyone of you ever get blacklisted for flipping watches? if yes, did they tell you about it or did you find out only when you asked for another watch?
Sayang u sold your Exp II within a month... hopefully dun kena tangkap :-X
there are only so many ROLEX ADs and only so many black 226570 Exp 2 sold in May 2022 so it won't be too hard for sales to check if they want to..
hopefully the 15k profit is worth the risk of never getting another watch from that AD..
:Cheers:
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I've heard stories of ADs banning buyers that flip, but those seem to be mostly in overseas and so far I have never heard of such case in our country.
has anyone of you ever get blacklisted for flipping watches? if yes, did they tell you about it or did you find out only when you asked for another watch?
Sayang u sold your Exp II within a month... hopefully dun kena tangkap :-X
there are only so many ROLEX ADs and only so many black 226570 Exp 2 sold in May 2022 so it won't be too hard for sales to check if they want to..
hopefully the 15k profit is worth the risk of never getting another watch from that AD..
:Cheers:
That’s true…oh well, to each his own.
For me, im still in love with this piece…
(https://uploads.tapatalk-cdn.com/20220612/232d6d34d0ef8fa3c839385e3b2909bd.jpg)
Cheers
Sent from my iPhone using Tapatalk
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I've heard stories of ADs banning buyers that flip, but those seem to be mostly in overseas and so far I have never heard of such case in our country.
has anyone of you ever get blacklisted for flipping watches? if yes, did they tell you about it or did you find out only when you asked for another watch?
Sayang u sold your Exp II within a month... hopefully dun kena tangkap :-X
there are only so many ROLEX ADs and only so many black 226570 Exp 2 sold in May 2022 so it won't be too hard for sales to check if they want to..
hopefully the 15k profit is worth the risk of never getting another watch from that AD..
:Cheers:
Rolex would have known of the sale as the watch would likely have gone into RSC for a verification check or a free service. But as bro pleasuresaurus said at the above, is getting cut off from further allocations worse than not getting an allocation at all? :Laughing_on_floor: Anyway, should not be much of an issue unless one is aiming for more desirable models from the brand.
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Personal experience from my friend. Was offered bundle buy lady-datejust and Daytona panda last march. He didn’t want the lady datejust retail around 40k but he was asking around for 15% above price for ang pao. Don’t know if betul2 ang pao or he was trying to fund for his Daytona. Met him last May he had his panda and sold lady datejust. Now waiting for black Daytona.
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“Because if I know you want a watch just to resell it, I won’t sell it to you.”
Lim has a list of important models that his retail team is not allowed to sell without his approval. “I want to know who’s buying it, so I will do my due diligence. Because if the watch ends up on the black or grey market, I will be the one who answers for it. I have to protect my guys, and I have to protect the brands.”
https://cnaluxury.channelnewsasia.com/people/cortina-watch-jeremy-lim-singapore-luxury-watches-200721
Strong statement indeed.. but how will the company carry this out? And since they also own Sincere (which doesn't sell ROLEX though) that leaves only Hour Glass who has yet to make such a statement.
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I've heard stories of ADs banning buyers that flip, but those seem to be mostly in overseas and so far I have never heard of such case in our country.
has anyone of you ever get blacklisted for flipping watches? if yes, did they tell you about it or did you find out only when you asked for another watch?
Sayang u sold your Exp II within a month... hopefully dun kena tangkap :-X
there are only so many ROLEX ADs and only so many black 226570 Exp 2 sold in May 2022 so it won't be too hard for sales to check if they want to..
hopefully the 15k profit is worth the risk of never getting another watch from that AD..
:Cheers:
is not that hard to check especially he sold other watches before on the internet and openly publish his own name on the wrranty card :Laughing_on_floor:
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Sayang u sold your Exp II within a month... hopefully dun kena tangkap :-X
there are only so many ROLEX ADs and only so many black 226570 Exp 2 sold in May 2022 so it won't be too hard for sales to check if they want to..
hopefully the 15k profit is worth the risk of never getting another watch from that AD..
:Cheers:
is not that hard to check especially he sold other watches before on the internet and openly publish his own name on the wrranty card :Laughing_on_floor:
Rolex would have known of the sale as the watch would likely have gone into RSC for a verification check or a free service. But as bro pleasuresaurus said at the above, is getting cut off from further allocations worse than not getting an allocation at all? :Laughing_on_floor: Anyway, should not be much of an issue unless one is aiming for more desirable models from the brand.
if possible, I'd like to keep it but because I had unexpected expenses that I incurred, I've decided to sell it. when I posted this question, it's true I also had the thought of making a quick buck. but I kept it cause I liked the watch and also the thought of paying lower price for something worth more makes me happy as well. I wore it nearly every day during the honeymoon period.
I had mixed feelings in this situation. On one hand, I feel bad selling it off cause I had 0 purchase history with this particular AD and they actually allocated me the piece. The service they provided me with was also top tier and I really liked interacting with them. I've purchased from other AD's but got no offers.
On the other hand, it felt good selling it off cause there was profit made. I also felt indifferent cause frankly, when I compared it against what Omega, JLC, Zenith has to offer for similar price, it felt like you truly are paying a premium for the brand name.
I actually do have plans to put my name on the AD again for another allocation in the near future, though chances are I will unlikely be getting one given the watch that I want is highly coveted + I might have been in their radar.
I've pledged to myself this time though, that IF I get another allocation for a piece I asked for, I will definitely keep it and sell off my other watches instead should the need arise.
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At the end of the day, watch collecting is just a hobby and a hobby should not take precedence over other more important things. Selling a watch to take care of other important things is just being responsible. As for putting your name for another piece; there is no harm in doing so. Just be patient. Who knows you may get lucky. Even with a long and big purchase history, I have known of others who waited years just for an allocation for a hot model these days.
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At the end of the day, watch collecting is just a hobby and a hobby should not take precedence over other more important things. Selling a watch to take care of other important things is just being responsible. As for putting your name for another piece; there is no harm in doing so. Just be patient. Who knows you may get lucky. Even with a long and big purchase history, I have known of others who waited years just for an allocation for a hot model these days.
this is very true as it happened to me. to those that are still waiting, there's always hope and truly no harm done by putting your name on the list. you may also try to inquire about how they allocate the pieces, as different AD's have different methods of how they do it.
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On the other hand, it felt good selling it off cause there was profit made. I also felt indifferent cause frankly, when I compared it against what Omega, JLC, Zenith has to offer for similar price, it felt like you truly are paying a premium for the brand name.
I actually do have plans to put my name on the AD again for another allocation in the near future, though chances are I will unlikely be getting one given the watch that I want is highly coveted + I might have been in their radar.
I've pledged to myself this time though, that IF I get another allocation for a piece I asked for, I will definitely keep it and sell off my other watches instead should the need arise.
So basically it wasn't a watch that you really loved but you bought it because it was offered to you and you know you could profit from selling it.
And if you needed the money, you could have sold other watches instead but you didn't....
It's your watch after you paid for it and it's totally up to you what you do with it.. but the problem is that you finally convince an AD that you really like it and then you flip it so quickly after getting it and that makes it hard for someone else who really does want the watch to get it from an AD in future because he has one more reason to mistrust a new customer.
And now with a little profit, you want to get another watch instead of using it for the "unexpected expenses" so good luck though.. maybe if you split some of the profit you made with the SA, he might consider you for another watch very quickly..
And that's sounds like a flipper/grey dealer in the making....
:Cheers:
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So basically it wasn't a watch that you really loved but you bought it because it was offered to you and you know you could profit from selling it.
And if you needed the money, you could have sold other watches instead but you didn't....
It's your watch after you paid for it and it's totally up to you what you do with it.. but the problem is that you finally convince an AD that you really like it and then you flip it so quickly after getting it and that makes it hard for someone else who really does want the watch to get it from an AD in future because he has one more reason to mistrust a new customer.
And now with a little profit, you want to get another watch instead of using it for the "unexpected expenses" so good luck though.. maybe if you split some of the profit you made with the SA, he might consider you for another watch very quickly..
And that's sounds like a flipper/grey dealer in the making....
:Cheers:
I did not convince the AD that I really like it, rather it was the alternative model suggested to me as what I really want is pretty much unobtainable (GMT) and the Exp2 had more chances of getting allocation as the market demand is not as high. Their words, not mine.
While it's true I could have sold other watches, factors such as not selling at a loss, only needing to let go of the Exp2 instead of at least 2 other watches, fast selling made the Exp2 the obvious choice. Not being as blingy as my other watches also kinda helped :D, and after the scratch I received on the bezel, I really felt like I want only watches with ceramic bezels moving forward.
Whatever profits I had are already used up for the expenses and I'll only consider putting my name on the list after maybe a year or so, so there's no grey dealer or flipper in the making :Cheers:
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Well, just hope that your AD folks don't stumble upon your watch/postings here as I'm pretty sure no amount of "stories" you curate can convince them for putting you in for another hot Rolex piece in the future.
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Well, just hope that your AD folks don't stumble upon your watch/postings here as I'm pretty sure no amount of "stories" you curate can convince them for putting you in for another hot Rolex piece in the future.
I'll just accept the fact that I posted this publicly as I did not intend to sneakily sell the watch so there's always the chance of them stumbling across my post. If they asked, I'll just tell them how it went. There's no "stories" to curate as you put it, I'm only sharing my thought process and experience on this :)
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I personally dont know anyone who is blacklisted, but I was told by the dealers they actually happen
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Yes, some of the famous brand do monitor their watches in used narket. I can confirm from my own close fren who's got emailed from Rolex regarding the sale of a watch he recently acquired and thus, disallowing future allocation. Concurs by another fren's fren who also received similar email from Rolex.
How the catch flipper is simple. Search online sales post, cross match with serial number (serious mistake) AND also date of purchase/warranty. Not many Milgauss sold on one particular date.. All sales of Rolex are diligently recorded.
I personally has allocation from AP and they expect us to keep their watches for 5 years. Can't afford a lot AP, thus definitely keeping them for life. As for Rolex, the expect holding for 3 yrs, as in their official Rolex Certified Pre own certification programme. I hav not reach the privilege of getting my 1st Patek so i can't comment on this. Well, they said PP is for generation keepsake so maybe they expect us to keep for life 😁
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But the watch shops don't verify your identity right? so just need to give a different name LOL to get allocation? though you will need to build your relationship with another AD in that scenario
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But the watch shops don't verify your identity right? so just need to give a different name LOL to get allocation? though you will need to build your relationship with another AD in that scenario
AD will photocopy your ID at your first purchase and enter details into their system for future references. I believe the details are also tagged to each watch you buy.