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How scalpers and Rolex store employees are making it nearly impossible to buy a Rolex at retail price [1]

['Mark Frauenfelder']

Date: 2023-02-20

Jeff Maysh wanted to buy a Rolex Oyster Perpetual for his wife. He went into a Rolex store in Los Angeles and "found only empty cabinets and an apologetic salesperson." As he soon discovered it's almost impossible to buy a Rolex at a Rolex store because scalpers snap them up and resell them at ten times the retail price on the gray market. And anyone who buys a watch on the gray market risks getting a realistic counterfeit watch.

Rolex, the company, has a rule forbidding scalping, but a lot of Rolex store employees are in cahoots with scalpers, receiving kickbacks for breaking the rules. Or the dealers reserve watched for people who buy a lot of jewelry.

From Maysh's article in Financial Times:

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