FEATURE: Watches & Wonders 2023 - Part 2: IWC, Oris, Rolex & Chopard (with Jim Dollares)

 

Welcome back to the second part of our irreverent coverage of Watches & Wonders 2023. For part one (which was totally devoted to TAG Heuer, of course) click the link below:

https://tagheuerenthusiast.blogspot.com/2023/04/feature-watches-wonders-2023-part-1-tag.html

ROB: Welcome back Jim, so where shall we begin?

JIM: Well, how about we start by bashing that hyped and insanely priced IWC Ingeneur?

ROB: Oh yes, a great place to start. Yeah I mean, people have been saying that we are moving into a new era of nostalgia, the 60s is done to death so lets rehash the 70s and possibly the 80s too... and this watch sure looks like it should have come out in the 70s don't it? Though I have to say, I do quite like the funky dial.

JIM: You like it? And you say you never like what everyone else loves! I think it is a decent watch but I am no big fan of integrated bracelet models like this one. And is there anything unique to this watch? When I first saw it, my first thought was that it might as well say Baume & Mercier, Frederique Constant or Tissot on the dial. But just because it says IWC on the dial, the price for this steel watch is set to something crazy like 11k! Can you believe that? I mean, hats off to IWC if they can fool their moronic fans to pay that much, but still. Crazy!

FEATURE: Rolex To Sell Certified Pre-Owned Watches Through Their AD Network

I apologise in advance for 'jumping on the Rolex bandwagon', I know it's tedious and I know every watch blogger/YouTuber does it all the time. But this is actually quite a big story and it could potentially influence other Swiss brands (including TAG Heuer) to follow the same path so on this occasion I actually thought it was worthwhile.

For several years now Rolex have been in the position of being able to sell many more watches than they can actually make, and while on the surface this may seem like an enviable position to find oneself in, the reality is slightly different. Sure, their balance sheet is healthy, but you can only have empty showrooms for so long before customers start to get disgruntled. A reasonable wait of say 2 months for your chosen product is acceptable, favourable even as it engenders the product with a desirability factor. For some watches maybe even a 6-12 month wait might be more of a positive than a negative, but when it comes to basic run of the mill watches it creates more problems than it solves.

So what should Rolex do about it? 

SPOTLIGHT ON: A Quick Look at the New Releases from Watches and Wonders 2022

 

Rest assured there will be individual 'First Impressions' posts for all the new TAG Heuer watches once I've had a bit more time to digest the finer details (and of course complete with the usual insights and scores from the COCO Council), but today I thought I would just give a very brief overview of the TAG Heuer Watches & Wonders 2022 releases, plus one rather surprising Rolex...!

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WATCH HUMOUR: Steel Daytonas and Submariners Now In Stock!

 

FEATURE: Is Rolex Reaching Critical Mass?

A few weeks ago I got a call from a work colleague wanting my advice. She said 'My son in law wants to buy a watch as an investment and I told him that you know about watches, so I said I'd ask you what to buy'. To which my immediate answer was 'Don't buy a watch as an 'investment, either buy a watch because you like it or don't buy one at all, because the chances of any watch you buy from a shop window going up are absolutely miniscule'. I ranted for a while until she got the message, not sure if her son in law bought a watch or not, but it just shows that the 'myth' of the appreciating Swiss watch persists.

Of course there are watches that appreciate, but as a rule they aren't the kind of watches you can pick up in your local Goldsmiths or Ernest Jones. No, for those you have to run the gauntlet of the boutiques and in particular the Rolex boutiques.

It's a funny thing, but recently I've noticed that the You Tube watch gurus are starting to subtly change their stance on Rolex. As long as I've been watching they've all been all about Rolex and the unstoppable rise in value that the steel sports models represent. But now all of a sudden, it's reached a point where even they are starting to question the 'value' of these ridiculously overpriced models.

FEATURE: Watches & Wonders 2021 (Part 2: Rolex, Patek Philippe and TAG Heuer)

Continuing our somewhat 'irreverent' look at this years 'Watches and Wonders' watch fair. For Part One, please click the link below:

http://tagheuerenthusiast.blogspot.com/2021/04/feature-watches-wonders-2021-part-1-iwc.html

ROB: Testing, testing... is this thing on? 

JIM: Yes! So when are we going to talk about this whole Watches & Wonders flop? Lets start off with two simple questions that might not be so easy to answer. At this point we are two days into this online fair and I would like to know, first of all what is Watches & Wonders and secondly, how do I attend the show? All I have seen is a flood of press releases in social media and some watch sites and after two days I still have not figured out how to attend the show or what this digital fair actually is.

ROB: Umm, well I guess... this is a 'fair' but only in the sense of creating an 'event' for the press to get behind. I guess you attend the 'show' by visiting the brand's websites at the appropriate time - like I assume the other brands had countdowns like TH did. I suppose the idea is that they can start to create a 'brand' and then roll it out properly once the pandemic is over and people can travel, but yeah I agree it's not really anything more than a somewhat co-ordinated mess at this point, and it seems like everyone was releasing at once whereas it might have been smarter to to stagger the releases more over the days - starting with Rolex, I would say and then maybe let that die down a bit before everyone else got their moment. I don't know... how many brands are involved?

JIM: I think there are something like 40 brands participating. I've seen comments on Youtube and Instagram where many are confused about the whole setup. I think you are right that each brand communicates directly with their own releases but could Watches & Wonders at least have provided a schedule on their website so people can know when each brand will present their stuff? I do wonder how beneficial this really is for many of these manufacturers. Wouldn't it be better for a company like Oris to do their own press release in calmer times when no one else is releasing things? I think that would generate more attention and marketing for Oris, now they just become a quick note in the feed of constant press releases.

ROB: Well that was always true of Baselworld wasn't it? The doors open and everyone ran straight past every other booth to get to the Rolex stand.... 'Oh my God what have Rolex released' (usually not much) and then they go to Omega and then Patek and AP and eventually TAG Heuer, meanwhile Oris are sitting their kicking their heels waiting patiently for their turn....

JIM: Yes I know, I just thought they would be smarter now when they do it digitally and enable for more brands to reach a gigantic audience in a completely different way. But counting on the Swiss to be smart and think outside the box is probably not realistic. Maybe in 10 years they will have adopted to a good online format?

ROB: Ha, yes.... okay, let's begin!

 

ROB: Aha, now this is what I really miss about Baselworld, the Rolex fanboys having a meltdown because 'The Crown' does something they don't like! Hilarious... 

JIM: I listened to the new Hodinkee radio episode about Rolex and Tudor. Seriously, Rolex creates zero emotion in my heart. I could see myself happily rocking that two tone Explorer 36 though. It would match my sleazy personality perfectly!

ROB: Plus it's 36mm again so it won't look too manly on your girly wrist... Hehe, this model is not popular with the Rolex fanboys because.... 'when I'm potholing the last thing I need is a soft metal on my bezel...' yeah because you are going to wear your two tone Explorer potholing.

JIM: Hodinkee snobs said something like "Rolex is forcing us to buy precious metals. You know the steel is unobtainable and the two tone is not much more expensive. People have no choice but to buy two tone". They are so deep into the Rolex 'hype-obsession' that its ridiculous! I agree with you that the two tone Explorer is excellent but probably for different reasons. I don't like it cause it pisses Rolex fanboys off, I like it cause I'm generally a sucker for two tone and I think Rolex is a manufacturer that does two tone very well. This 36 mm two tone Explorer is a perfect "classy older but not old gentleman in his best years" kind of watch. Would go perfect with a nice Mercedes with plenty of yummy wooden interior.

ROB: Patek are hilarious, they announce the death of the 5711 (because they are don't want it to become their 'Royal Oak') then announce a green dial which will only be made for one year... and I wonder, if you were already on the waiting list for the blue (which you won't now be getting) do you get a shot at the green one? I very much doubt it, these will be for special customers only!

JIM: Hehe yes! They just keep ass-raping their customers and the customers react by wanting to pay more! Is it a sort of Stockholm syndrome for rich watch snobs?

ROB: Must be.... I still don't really get why the Nautilus is so popular. It's an odd shape, it's got that nasty lump on the left hand side. Why does it trade over list? Why do so many people want it? I don't get it. Is it just because it's a Patek and it's a sports watch? Is it just the Submariner for people who find Rolex a bit gauche?

JIM: I think its a mix of things. Its a Patek for people who aren't really "Patek people". When I think about Patek Philippe I imagine sophisticated people with class. The Nautilus is an exception, with that one I am thinking about either fake rich Instagram posers who got a bigger mortgage to afford buying one or new money people with zero class who just want it cause its hard to get and expensive. Hodinkee probably helped both these groups of people grow into the scale we see today.

ROB: I saw a video yesterday where Eric (Watch Eric) said confidently that these will trade over $200,000... I don't know what the list price is, but I'm guessing nowhere near that. Crazy!

ROB: So, finally.... I've already posted my thoughts on the Aquaracer - at the time of launch I had very mixed feelings about the new models, but you seemed a lot more upbeat, yes?

JIM: If 'upbeat' means negative then yes, I am very upbeat. No, but I think I'm just like you, mixed feelings and sometimes I think I like it and sometimes I hate it. But one thing I'm still certain about.. the old generation is so much better in every way! My main concern with the new one is that they didn't fix the movement. At least they could've gone for a COSC version of the Sellita. And I want someone to confirm that the crown tube has been improved!

ROB: What about the six o clock bubble? I've seen quite a few negative comments on YouTube about the new look...

JIM: Oh yes I really hate that one. But I don't waste too much energy on it since I've heard rumours about an upcoming 40mm version which probably wont have any cyclops. Otherwise I think I would've bashed it a lot more!

ROB: What about the 'Tribute to 844', did that creamy fauxtina got you a little hot under the collar?

JIM: Yes yes, you know me too well. The 844 tribute is really nice, I wouldn't mind rocking that bad boy! And of course you said in your review that this was the best Aquaracer ever!

ROB: I really did NOT! I said it was the best looking of the eight new 2021 Aquaracers, hardly the same thing!

JIM: Stop putting your words in my mouth, I am certain this is your all time favorite Aquaracer

ROB: Well, it isn't... I think the jury is still very much 'out' on this new Aquaracer, I just hope that when we finally get to see it in the stores it confounds expectations; maybe we just have to get used to it? I mean the older we get the harder it is to accept change, especially if the thing that's changing was aesthetically pleasing before. Like... Meg Ryan for instance.

JIM: Who? 

ROB: Nevermind.... before your time.

Well that concludes our look at the inaugural Watches and Wonders... let's hope next year it can be a proper fair that people can visit and report from. I guess we'll have to wait and see... same time next year (presumably).

FEATURE: The Madness of 'The Crown'

 

The Rolex Explorer 36mm in Yellow Rolesor

God bless 'Watches and Wonders'... I forgot how much fun watch fairs are and in particular how much fun it is watching Rolex fanboys losing their minds over every little thing 'The Crown' does and doesn't decide to do. As ever a quick trawl through YouTube in the weeks leading up to this little shindig offers a multitude of 'Rolex 2021 Prediction Videos', all of which were as wide of the mark as ever... because literally nobody was predicting what Rolex actually pulled out of their very secretive hat.

Now normally I don't pay Rolex a lot of mind, because... well, it's Rolex and I'm simply not a Rolex kinda guy. But today I decided to take the plunge and watched three separate You Tube videos reacting to Rolex's 2021 releases and frankly it was a hoot.

First up was Federico Talks Watches, and Federico milked his exasperation with the brand to the hilt, even threatening to sell his two Rolexes because he was 'done' with this lazy brand. Yeah right Fed. Then there was 'The Time Teller' who is entertaining although I can't really get on board with him because he really hates TAG Heuer and he even made a video called 'Why I never talk about TAG Heuer' and then brings them up every time he wants to make a bash video... 

Poor Jory was so upset with Rolex, he's totally on message with making the Explorer 36mm again - but two tone? 'But... the Explorer is a tool watch,' Jory cried. 'The last thing I need when I'm potholing in a cave is a gold bezel because it will get all scratched up!'

Finally I watched a video from Watchbox Studios where Tim Mosso and another chap with impossibly blond hair discussed the releases in a manner befitting of adults and when the thorny subject of the two tone 36mm Explorer came up did they side step it? Not quite, Mr Mosso pointed out that he didn't think that particular watch was aimed at the US or European markets, suggesting that its true client base was to be found in South America and China. Meanwhile the other chap with the impossibly blond hair countered that at 36mm and two tone Rolex would sell plenty in the US and Europe, but to women.

Which is a point, because a lot of women will wear a 36mm watch these days and putting a gold bezel on that baby is going to make it even more attractive. Wait, I think I hear something, it could be Federico and Jory's heads exploding.... after all, this is a serious watch for serious exploring type behaviours and that means big, beefy men with beards, not women, right! Well it certainly was 60 years ago, I doubt many big beefy men with beards will be climbing Everest with a 36mm watch strapped to their wrist in 2021... 

The hilarious thing is how upset and offended Rolex fan boys get when 'The Crown' doesn't play by their rules. One look at Hodinkee's article on the new Explorer finds over 400 comments, mostly negative and almost exclusively concerning the abomination that is the Rolesor Explorer, never mind the fact that they also released the 36mm Explorer in Oystersteel. 

Here are a few of the more entertaining comments:

Leonarr: In steel it's a tool watch, in two tone it's a 'tool' watch!

Phototristan: I'm actually going to buy the 36mm two tone just to piss off all the haters!

Phil Bailey: The Explorer was a proper tool watch that Rolex left alone. No precious metals etc. Such an Icon. Rolex you have just ruined the Explorer line. I'm out.

WKF: The Everest comments are pretty comical, guys. Everest is exactly where you’ll see the Rolesor Explorer. Where $60k gets you an assured bid for the summit with minimal conditioning, no climbing or mountaineering experience needed! ...seriously. Guides taught class 4 climbing at the Hillary Step. I can’t think of a better time to release a two tone Explorer; better yet, it should have been full 18k to represent how much of a mockery of its past self Everest has become.

Dr Smith: It's worth noting that two-tone explorers are not unprecedented. Google "ROLEX 5501 EXPLORER" to see a TT example from the late 60s. It was only 34 mm and had a gorgeous white honeycomb dial!

Clearly Dr Smith is far too emotionally stable for this conversation and was righteously ignored!

Okay, so it's not just Rolex, TAG Heuer are copping a lot of heat right now for their decision to move the date on the Aquaracer to the six position and for that round cyclops, but I don't think I've seen anyone take it truly personally the way the Rolexistas do. They really do believe that when Rolex do these things they devalue the brand and with it (no doubt) their investments, because for a lot of these guys these watches are investments, even the ones who go out of their way to say they don't buy them as investments.

Graham: Not that I buy watches for investment, but I bought a 214270 in Dec 2019 from an AD. It was overseas and the exchange rate was in my favour. Even before yesterday’s announcement, they were selling 30% over what I paid. The DJIA over the same period has gained about 20%, Nasdaq about 60%, S&P 500 about 25%, and NYSE about 15%. So the Rolex beat 3 of the 4 key markets you’d likely be indexed to. Again, not why I buy watches, but just saying ...

Never mind, Hodinkee has already gone on the offensive with an article berating those foolish enough to air their disapproval. A few months of this and that thing will be trading way over list, order is restored and the whole episode is quietly forgotten. Everyone back on the bus, if you know what's good for you! I have to say though, I don't have a lot of time for Hodinkee, but I totally agree with them that the 'Explorer' is not a tool watch, a Seiko SKX is a tool watch, nothing that costs as much as the Explorer does can realistically be described as a 'tool' watch, it's preposterous.

You know, I have this feeling that Rolex is like Bitcoin, while everyone continues to 'believe' then everything is fine, the shortage continues, the prices go up and everyone is happy. Rolex isn't a watch anymore, it's a commodity and even more than that it's a cult - which is why they get so upset when Rolex doesn't do exactly what they expect. And don't get me started on the 'Rolex is forcing us to buy two-tone'... Rolex isn't forcing you to do anything, nobody has to buy a Rolex, nobody has to buy anything - how are they 'making' you buy their product? For God's sake listen to yourselves!

Honestly, I don't know why Rolex don't just ditch the watches altogether and just create a sealed box with a 'blockchain' code on the side and let people put that in their safe rather than wasting their time actually making something that never gets worn.

Still, the really good news is that Rolex made the Batman available on the Oyster bracelet again (after all the Jubilee fuss of a couple of years ago), thank goodness for that - we can all sleep soundly in our beds tonight huh?

VIDEO: TAG Heuer Aquaracer Calibre 5 v Rolex Submariner 124060 Lume Comparison and Review by RG Videos

 

ON THE WRIST: Rolex Yachtmaster Blue Dial 116622

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Selfridges / London, 9th March 2019

Hard to believe it may be, but until today I'd never tried on a Rolex. Never been particularly bothered either... and these days, it's pretty much impossible to try on most of the popular models as there just isn't any available stock anywhere. But I was a man on a mission today, I wanted to try on as many watches as possible and top of the list were Rolex and Hublot. Hublot is easy, plenty of Hublot stock around, chuck a stone in London and you'll hit a decent Hublot, Rolex on the other hand...

But actually, dredging through a sea of two-tone, undersized and generally ugly looking watches, I lucked into finding what is surely the nicest looking Rolex I have ever seen. I'm not too familiar with Rolex ways of doing things, but I vaguely remembered that a blue dial meant something, and looking at the watch in the cabinet I came to the conclusion that it meant the watch was white gold.

As it turns out, that wasn't the case. The case is actually Rolesium (Rolex's own blend of stainless steel and platinum, with it's own super tacky brand name!), but the bezel is 950 platinum, which means the watch retails for £8900 instead of the £20,000+ I was kind of expecting, and no Rolex do not put prices next to the watches in their boutique cabinets. The lady who served me was very nice and she told me that the watch had only come in the day before and that it would probably not be around for very long. Of course, this could be sales banter, but knowing Rolex I think her words were genuine enough. It's certainly the Rolex I would buy.

It's almost the Rolex TAG might make, with a gorgeous blue dial and the red second hand, it really worked with the icy case and bezel and it looks so un-Rolexy. I've seen these Yachtamsters before with fairly insipid dials and not really liked them too much, so it must be the strong red/blue colour scheme that's changed my mind. The watch is 40mm in diameter and reasonably thin, without being silly, and really the only thing about the watch that I wasn't overly keen on was the bracelet, or rather the width of it. It seemed awfully narrow for a 40mm watch, I don't know for sure but I would say it must have tapered to at least 16mm, which seemed a bit too narrow for my liking. Remarkably, even the cyclops didn't bother me, probably because unlike some of the ones I own, it actually does what it's supposed to and makes the date easier to read!

The watch is water resistant to 100M, although the lady who served me assured me that Rolex test to 300M anyway. I should hope so because 100M is a bit stingy for a non-chronograph called a 'Yachtmaster' don't you think? As you'd expect from Rolex the hour markers on the dial are white gold filled with Rolex's own lume (Chromalight) which has a long lasting blue glow. I didn't get to experience the lume myself, but I understand it's pretty good.

I honestly don't buy into the Rolex hype at all, looking around the boutiques I noted that there was almost nothing there that I would buy if I had pockets full of cash. But this one really stood out to me, and I'm glad I actually managed to find something I genuinely liked to try on rather than just trying on something unattractive for the sake of it. But £8900 is a lot of money and if I had that available then there's so many other options I would explore first that I very much doubt I would end up buying this (resale values be damned - more on this anon). Still I'm glad I've finally experienced a little bit of the Rolex magic, even if overall it has left me more confused than ever as to why this brand above all others are so outrageously successful.

FEATURE: Another Trip to London to Look at Watches...

Long time readers may remember that almost exactly a year ago my friend Rich and I made a day trip to London with the express intention of visiting as many watch stores as possible... well, we decided to do it all over again, only this time we really went for it!

Our first port of call was the Omega boutique at the top of Regent Street, and strangely enough I'd never tried on an Omega before, so it really was high time I did. I ended up trying on six different pieces, including the Speedmaster and Speedmaster 2, three Planet Oceans and 300M Chronograph. We ended up staying in there nearly an hour, which I really hadn't been expecting or intending to do.

I must say, the service we received in this boutique from Lin Lin was superb and seeing that I was noting down the pieces that I had tried on she offered to print me spec sheets for everything. I'll probably never buy an Omega, but if I did, I would make a point of going back to this boutique and asking for Lin Lin, she is a credit to the company!

Next we headed down Carnaby Street and happened to stop off at the Swatch boutique. I've never been overly sold on Swatch, but I know Rich likes the collectability of them and it was interesting to see the System 51 models on display. We didn't stay too long before heading down a few doors to G-Shock.

I didn't actually try anything on in G-Shock, but it was quite interesting to see the wide variety of styles and prices on offer. They even had some steel models that were over £1000 which I wasn't really expecting.

We popped into the Karl Lagerfield store on Oxford Street so I could pick up a little gift for my wife. It's a shame Karl has died recently and I love that his cat is worth $3.5M. Crazy! After picking up this cute (if somewhat overpriced keyring), we headed a couple of doors up to Watches of Switzerland.

I've been in this store several times, but I've still never been up to the top floor. I always head for the basement first since that's where the LVMH brands are to be found, and this time I tried on a couple of TAG Heuers and my first Hublot. Then we headed back up to street level and I tried on my first Ulysse Nardin, it was to be a day of firsts, with more to come...

Mindful of the long day ahead and our poor feet, we decided a brief stop at the Slug and Lettuce on Hanover Street was in order. I had ideally planned to get in there before 12 as I feared it might be rather busy on a Saturday lunchtime, but it was actually rather quiet and we passed a pleasant half hour in there before moving on.

Our next stop was Oris on South Molton street, where I discovered the rather exciting 'Dive Control Limited Edition 1000M Chronograph', a real beast at 51mm but one that you could actually wear due to it's very short lugs and non-flaring strap. Can't honestly say there was much else in the store I was interested in, but that one got a big thumbs up from me.

Selfridges was next, and after wasting half an hour going around in circles trying to find the toilets, we finally hit The Wonder Room, where I tried on my first ever Rolex. Not only that, but I managed to find one that I actually liked... which was a surprise to me, as I find most Rolexes hideous!

Also in The Wonder Room, we looked at a couple of TAG Heuer Monacos, a couple of Aquaracers and a Breitling Exospace B55 on a blue rubber strap. Our server 'Alan' seemed to think that Rich and I were an 'item' and he suggested we might like to 'share' a Pepsi GMT Aquaracer!

Alan was clearly desperate for some commission as despite telling us he was heading off for his lunch he kept hovering as we moved around the room, terrified that the minute he left we might buy something from a different salesman. In the end he gave up and I tried on the Brietling assisted by a truly charmless chap who demanded to know what was stopping me committing to the £6000+ Exospace!

I had hoped to try on a steel non-Offshore AP Royal Oak on this visit, but it was not to be, Selfridges and Harrods were a steel Royal Oak free zone, which makes me wonder if they are now playing the same silly games as Rolex?

With time knocking on, we crossed Oxford Street to visit the TAG Heuer boutique and catch up with the lovely Aneta (who I already knew from the Bicester store). There wasn't much in store that I hadn't already seen, but I did have a good natter with Aneta and managed to try on the new Senna Carrera Heuer 02T. Also Aneta told me they are expecting the Nanograph in store soon, so hopefully I will be able to see that in the near future!

From here we took a walk down New Bond Street (completely missing the Victorinox shop we had hoped to visit), before stopping off at Charbonel et Walker to pick up some hideously expensive chocolates (£95 per kilo, I kid you not!), good job I only bought a few...

After a nice lunch in Richoux on Piccadilly (if you like Carrot Cake, this is the place for you) we crossed the road to Burlington Arcade, only to find that at 5:45pm the shops were shutting up for the night. Next time we will go there before we go to Richoux... but that wasn't the end of our day, because while Bond Street closes at 6pm on a Saturday, thankfully Knightsbridge does not!

And so we headed into the Seiko boutique where I was unimpressed with the both service and the overall attitude. A complete contrast to some of the places we had visited today, especially the Omega and TAG Heuer boutiques which had been exemplary.

And so we made it to our last destination for the day, Harrods. It was a shame to see that the enormous Lange & Sohn display piece had been removed (perhaps headed to Baselworld?) but we spent a good forty five minutes chatting with Mahmoud in Hublot while trying on some very nice watches. And then finally a good little while with Harry in the mixed brands room where we had a look at the new Tudor GMT Pepsi and a couple of rather striking Zenith Defy El Primero 21s.

Needless to say I will be reporting on each of the 27 watches I tried on in due course, I will probably spread them out a bit though as this blog is supposed to be focused mainly on TAG Heuer and only 7 of the watches I tried on were TAGs. I've made a start, and the Rolex, Oris and Seiko reviews should be up soon...

I wonder how many watches I'll manage to try on next March...?

FEATURE: The Rolex Steel Sports Situation

I don't, and I have never owned a Rolex. I don't think I ever will either to be perfectly honest... and the more I hear about them the less I think I would want to. But you can't be interested in luxury watches and not take a passing interest in the brand, and you have to admire the way they have elevated themselves right to the top of the watch tree, whether it's fully deserved or not.

So if you watch videos by the likes of CRM Jewellers and Archie Luxury or frequent watch forums you'll probably be aware of the shortage of steel sports watches that is afflicting the Rolex fan at the moment. I don't usually pay much attention to Rolex, but a few weeks ago I was passing Goldsmiths and looked in the window and noticed that it was true. There was a decent number of watches in the window, but almost every single one was two tone. I can't remember now if they even had one steel watch, they may have but it was something fairly unexciting like an Air King... they certainly didn't have any Submariners or Daytonas that's for damn sure!

And this is seemingly the case everywhere. I read a post the other day on a watch forum where a guy was in Heathrow airport and wandered into a Rolex boutique to kill some time. This guy had bought Rolexes in the past and making conversation with the salesman he established that they had a couple of different steel watches in their safe that he wanted to buy. Now, as you may or may not know, at the moment you can't just walk in to a shop and buy a (popular model) steel Rolex, at the very least you will need to be able to prove that you have bought from an AD previously.

So the first question was 'are you on our system?' It tuned out that he wasn't, which wasn't a good start. So they asked if he could prove that he had bought their product from an AD before. Given that he was in an airport this was a bit of an ask, but he phoned his wife and she managed to find a receipt and sent it through. This satisfied the salesman and he rang his manager who was off site at the time to get the okay to sell the watches. However, the manager refused to let him process the sale because 1) the customer still wasn't on their system already, and 2) they couldn't establish for certain that he was a big spender. Eventually the guy gave up and left after having wasted an hour of everybody's time.

Sure, you shouldn't believe everything you read on the internet, but this is by no means the first thing I've read from people left frustrated in their dealings with Rolex ADs. The thing is, I just don't get how this is helping Rolex. Okay so you cut production and create 'demand', but they seem to have taken it too far. What's the point of creating demand unless you are going to satisfy it at some point? And how is this good for the ADs? According to Roman Sharf of Luxury Bazaar, ADs have to buy a load of pieces they don't want to qualify for steel sports watches and they can't sell them over-list to their customers so instead they sell them on for +50% to a reseller, who then puts another 10-15% on the price and hence you get the ridiculous situation we are in now.

Furthermore, Archie Luxury recently reported that some AD's were willing to sell watches 'at list' providing the customer was prepared to offer a substantial 'tip', essentially playing the system and selling over list while hiding what it was up to since the bill of sale would only show the list price being paid. Again, you shouldn't believe everything you hear, but it's not hard to imagine this situation arising, in fact you could well imagine this situation being initiated by a well heeled and deeply frustrated customer!

I can't help but think that if Rolex was a listed company (Rolex is actually a 'charity' believe it or not) this would not be allowed to happen. Why would shareholders put up with demand going unsupplied? All it's done is to artificially inflate the prices of pre-owned pieces, but again how does that help Rolex themselves? I don't get it. They are already by far the most famous and prestigious watch brand out there, how does making their watches more exclusive help them? Do they think that this will help them shift their two-tone and gold pieces? Because I really don't think it will.

Given that Rolex are actually a very secretive company, is it possible that there is some other undisclosed reason why this is happening? Rolex make a lot of their own components and even their own steel, so is it perhaps possible that there is some problem somewhere down the line that is causing this shortage, but in the absence of any word from Rolex people are just putting it down to the company 'cutting production'.

Maybe that's a long shot, but whatever the reason, surely this can't go on too much longer without the company risking a backlash of some sort. But then Rolex fanboys are a peculiar breed, it seems that far from being annoyed by the company's way of operating they just suck it up like some sort of collective masochism and accept it as the cost of being one of the chosen people entitled to own a Rolex.

I don't get it, and to be honest I don't get the watches either. So while I'm sure I would get short shrift in a Rolex AD, I'm not sorry. To be fair, I suppose the ADs are stuck between a rock and a hard place. They're short of stock and thus missing out on sales, which must be incredibly frustrating, no wonder they sell their stock on to the highest bidder. I've heard for instance that as a rule a Rolex AD will get an allocation of two steel Daytonas per year. Two. It's ridiculous! And yet, the ADs are terrified of losing their AD status. What a bizarre situation...

Kinda makes you glad you don't want one. At least I can get pretty much any TAG Heuer I want as long as I can afford it!