Connect with us

Headlines

Why It’s So Hard to Find a Rolex Right Now

There are ‘millions of people fighting to buy those watches at retail.’

mm

Published

on

(Editor’s note: Updated Sept. 30 with comments from Rolex.)

If you’re looking for a Rolex watch, good luck although officials with the company say they’re not intentionally keeping supplies low.

Most Rolex retailers have few of the watches for sale, Eric Wind, founder of Wind Vintage, told Yahoo Finance.

The temporary shutdown of manufacturing plants last year as a result of the COVID-19 pandemic is one factor in the shortage. Wind said Rolex has ramped up production and is now likely making more than 1 million watches per year.

“But you have many many millions of people fighting to buy those watches at retail,” he said. “They’re doing what they can, it’s just that demand outstrips supply.”

Business Insider reported that prices for secondhand Rolexes have climbed to the point that “some timepieces now command far higher prices used than they do at the retail counter.”

Advertisement

Adam Golden of Menta Watches told Business Insider the shortage is likely strategic on the part of Rolex.

“Rolex would like to perpetuate the image that there’s a shortage and that there’s such high demand that they can’t produce enough to satisfy the demand, but I think in reality it’s just very controlled release in order to keep that demand super high,” he told the news outlet.

But Rolex executives said that’s not true. In a statement to Yahoo Finance, they said in part: “The scarcity of our products is not a strategy on our part. Our current production cannot meet the existing demand in an exhaustive way, at least not without reducing the quality of our watches – something we refuse to do as the quality of our products must never be compromised.”

Advertisement

SPONSORED VIDEO

Thinking of Liquidating? Think: Wilkerson

When Peter Reines, owner of Reines Jewelers in Charlottesville, VA, decided it was time to turn over the “reins” of his 45-year-old business to Jessica and Kevin Rogers, he chose Wilkerson to run his liquidation sale. It was, he says, the best way to maximize the return on his decades-long investment in fine jewelry. Now, with new owners at the helm, Reines can relax knowing that the sale was a success, and his new life is financially secure. And he’s glad he partnered with Wilkerson for this once-in-a-lifetime opportunity. “There’s just no way one person or company could run a sale the way we did,” he says.

Promoted Headlines

Most Popular