Even with the Coronavirus pandemic there remains this huge worldwide market demand for both new and pre owned Rolex watches. Most new Rolex models are selling for over MSRP. Let's say you COULD buy a stainless steel Daytona from an authorized Rolex dealer at $13,150, congratulations, that watch in now listed on various websites trading at over $26,000. If you are an Authorized Rolex dealer I guess it might be difficult as to who you choose to sell.
With pre owned Rolex we’re presently faced with the perfect storm. Rolex manufacturing/distributing less watches into the US marketplace, people are traveling less, there have been no industry watch tradeshows, the Chinese market is now buying 45% of the luxury market. I compare Rolex watches to the gold market, if gold is trading at $1,900, suppliers are not going to sell to you at $1,500. Over the last 90 days we are dealing with pre owned price increases anywhere from 15% to 30% depending on the model.
Swiss Crown continues to work closely with our multiple supply channels. Our suppliers are asking us for future order projections due to the longer lead times to find our watches. The good news, Swiss Crown continues to move forward acquiring only the best quality pre owned Rolex watches for our select retail partners.