crisis

Rolex Buys Rolex Watches To Prevent Price Drops

Watch sales are down, way down in some places, and the only option for many dealers is to provide deep discounts to move inventory. This creates price drops that many watch brands are less than thrilled with. Some brands are taking an active approach to protect brand pricing. Rolex is personally purchasing back inventory from dealers who are having trouble selling Rolex watches. Buying back the watches gives some money back to the retailers to help them during hard times, and allows Rolex to be confident that less deep discounting is occurring in the market. Rolex is of the most protective brands when it comes to pricing and image. They have an almost legendary reputation for not giving significant discounts. This is not a fact that they wish to change right now when keeping the integrity of a brand's pricing system solid is an important endeavor.

It is no secret that Rolex is a cash rich company. It is not likely a huge impact for them to be buying back inventory which will likely be warehoused until future times when things are better for the luxury watch market. I would go so far as to say that it is probably in Rolex's best interest to dismantle and recycle unsold watches than to release them at below market rates (that they set). Further, you might be wondering why dealers are all selling back to Rolex in the first place rather than discounting and potentially getting more money. This would likely conflict with their authorized dealer contracts with Rolex. Plus, Rolex likely has a redemption right - that allows it to buy back stock under certain circumstances. For you, this means less chance that your dream Rolex watch is going to be discounted any time soon. Pictured is a 2009 Rolex Datejust watch with Arabic numerals.

Via WorldTempus (in French).

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Tags: crisis, dealers, discount, market, rolex, sales

International Rescue Committee, Charity of the Day

by Tracy Chait (RSS feed) —

Filed under: Charity of the Day

The International Rescue Committee is one of the prominent non-profits advocating for refugee rights in the U.S. where newcomers often feel displaced and lonely. The IRC has responded to humanitarian emergencies and has fought against human trafficking and gender-based violence. Four of IRC's workers were killed in an August 13th ambush in Afghanistan; yet the organization continues to strive for peace all over the world, in war-torn Lebanon and rescue efforts in post-earthquake Pakistan. Above all, the organization founded in 1933 at Albert Einstein's behest has aimed to reorient displaced refugees and fight for refugee rights in multiple environments.

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Tags: afghanistan, crisis, international rescue committee, InternationalRescueCommittee, irc, lebanon, refugee