Things that lead to such waiting lists
There are numerous factors that lead to such long waitlists on some of the most desirable watch models. These factors vary from the basics – supply & demand to the way these watches are manufactured. Here’s a detailed list of the factors that have affected the waiting list for such watches.
Supply and Demand
A luxury watch is the first thing that anyone wants to buy as soon as they reach a certain milestone in their life. With that being said, many people are making money from new businesses or various investments. This leads them to want to buy watches from brands like Rolex, Audemars Piguet, Patek Philippe, Richard Mille and many others.
This has caused the demand only to increase year-after-year. However, these watches are not being mass-produced. In order to cater to the huge demands, waitlists had to be put in place.
Slow production run
Most of these luxury watches feature self-winding or manual winding mechanical movements. In order to make such movements, a manufacturer has to put together hundreds of parts. On top of that, some of these watches even come with complications like a Perpetual Calendar or a Tourbillon.
While a brand like Rolex produces around 1 million timepieces a year, brands like Patek Philippe only make around 60,000 pieces in a 12-month span. Then there are some truly exotic brands like Richard Mille which only produces around 5,000 watches in a year. For the true collectors and enthusiasts out there, brands like F.P. Journe reportedly makes fewer than a 1,000 pieces in a year.
Some of this has to do with the fact that these watches are not easy to produce. A lot of the production process is done by hand, which makes it difficult for these brands to even try to produce more watches than usual.
Authorized Retailers are the decision-makers
Walking into an authorized retailer of one of these luxury watch brands is a completely different experience. At most retail stores, you can always show how deep your pockets are to get anything that you desire. But that is not the case with such watch retail stores. These stores usually get more walk-in customers than they can handle.
These authorized retailers own the right to decline the request of any client. They encourage clients to first build a relationship with them. That begins with buying some not-so-desirable watches. This shows the retail store that the client is willing to send money at their store. It also shows how passionate the client is about the brand.
Once a relationship is established, they offer the clients to get on a waitlist for some of the more exotic pieces. These can include popular models like Rolex Daytona, AP Royal Oak, Patek Philippe Nautilus, among others.
Waitlists make them more desirable
Getting a Rolex Daytona after 7 years of waiting in line or getting an FP Journe after 2 years of wait makes the buying experience even more exciting. Yes, as soon as you walk in the store thinking you will buy a Royal Oak today, you get disappointed knowing it is unavailable. But the fact that you go through all the trouble and wait for years is what makes the ultimate buying experience a whole lot better. It is then a day in your calendar that you have always been waiting for.
This is not only the case with luxury watches. It is also what happens with car brands like Ferrari. To get your hands on some of the Ferrari models, you do have to wait for a couple of years. Some fashion brands like Louis Vuitton do it for some of their bags and shoes.
Exclusivity is the key to luxury
People love to show their success by buying some exclusive things that only they own and not many others. With a starting price of around AED 25,000, a Rolex is not unattainable for many. It is only the waitlist that makes it more exclusive. Even with 50,000 AED cash in hand, you can walk into any watch brand and buy a nice-looking timepiece. You can even buy 10 different watches for that kind of a sum. However, what you will not be able to get is a watch from a luxury watch brand.
The waitlist and the way the system has been structured, these brands are able to offer some very exclusive timepieces to their most loyal clients.
Skipping the waiting line
Waitlist can be an exciting journey for some watch enthusiasts, but for others, it can be an exhausting one. This gives them the urge to skip the waitlist. The only way to do that is to purchase the watch from another dealer. This is where stores like WatchMaestro come to help people get their dream watch. With connections all over the world, these dealerships can help you get the watch you want without getting in line on a waitlist.
However, this comes at a price. People who do manage to get a desirable watch directly from the AD often tend to sell it to dealers to make some quick profit. These dealers can then find the right buyer for it, which in this case could be you. So, if you are looking for a Rolex Daytona or a specific Patek Nautilus model, feel free to reach out to us.
