Five reasons why I turned down a Rolex

How rejecting The Crown turned into my Five Rules of Watch Buying

If you’re into watches, what I’m about to tell you might make you think I’m an idiot. My authorised dealer (AD) recently offered me a Rolex. I said no. 

Getting a new Rolex from an AD is hard. To quote Oscar Wilde, they’re as rare as rocking-horse shit. 

So much so that, right now, many people are buying one-way tickets on the Hype Train to FOMOville. I was almost one of them. Yet turn it down I did. I wanted to write about why because the experience helped me develop Five Rules of Watch Buying that might help other collectors in the same position. By applying my rules and saying no, I feel a lot happier and more confident in where I’m heading with my collection.

In case you haven’t heard of Rolex, they’re…oh, who am I kidding? (Image: Shutterstock)

But first…

A Very Big Disclaimer

This isn’t a Rolex-bashing article. No way. I think they’re terrific watches. I love good engineering and fine craftsmanship and Rolex do both to a ludicrous degree

In fact, on paper, Rolex is right up my straße. I’ve talked before about my love for Switzerland - ordered, logical, focused, clean, and sticklers for the rules… It’s Sensible Disneyland. And it’s why Rolex can construct watches with bulletproof build quality - and do it consistently, at a rate of a million watches a year (allegedly).

Yes, they’re all over The Instagrams like a cold round a nursery. Many silly show-offs buy them as a flex. And they’re often blinged up to high heaven. So they have a reputation as the choice for those who are, shall we say, less troubled by self-doubt. 

An Unnecessarily Silly Rolex, doing some showing off yesterday. (Image: Shutterstock)

But that’s not all Rolex’s fault. So no. No Rolex bashing here. Big fan. 

Now, where were we?

Oh yes. I turned one down. 

“But why, you ruddy silly fool?!”

I like oddball watches. The ones that are unusual or remarkable yet overlooked or not as popular as they deserve to be. Which is why the Rolex Milgauss spoke to me…

One day, I was loitering around my AD’s display cases and tried on a few Rolexes (Rolii?), purely out of curiosity. I was drawn to the Milgauss, which was originally designed to be anti-magnetic for brainbox scientists wearing their delicate tiny machines near high-voltage boffin-y equipment. It felt like a watch with a purpose - the kind of thing nerds would wear around CERN while flinging particles all over the shop. 

Plus it had a green sapphire crystal that, apparently, is so difficult to make that Rolex didn’t even bother legally protecting it. They just knew nobody could copy it. It also had a nuts orange lightning-bolt second hand that made it unusual and visually curious. 

When you don’t even legally protect something because it’s *literally too hard for anybody to copy*, you know you’re good. Oh, and look at that crazy lightning bolt second hand. Love it. (Image: Shutterstock)

To cut a long story short, having been a decent customer for a while and spent a decent chunk of money, my AD popped me on the list. Lovely. No timescales, but no worries - I wasn’t in a hurry and it would be a nice surprise one day. 

Adam’s Five Rules of Watch Buying

It takes time from going on the list to getting the call. In my case it was a few months - perhaps four or five, but I can’t remember for sure. 

In that period, a lot happened. I’d had a big year in watches and my knowledge and tastes had developed. I’d added a few things to my watch box(es) that helped me figure out a lot more clearly where my collection was heading. I had more direction. 

In truth, the Milgauss wasn’t setting me alight any more. 

But it wasn’t an easy decision. Because of what it was - a ROLEX - I felt pressure. Shouldn’t I be going for it? I mean, there are online forums full of people who have been waiting for years and have developed “strategies” for getting hold of these things. Would I regret it? Would I suffer a massive bout of FOMO?

This Milgauss is so unassuming and laid-back that it’s fallen over. (Image: Shutterstock)

Just like deciding whether to ask somebody to marry you, going with your heart is a stupid idea. It’s much better to write a list of pros and cons and use a points-based system. Which is what I did.

In the end, I came up with Five Rules of Watch Buying that now help me make decisions - and might be useful for you, too:

1. Don’t get caught up in the hype
   I’ve got a good circle of watch buddies. We chat a lot and I learn a lot from them. When I first started collecting watches, I thought a Rolex was a necessity and a rite of passage. Thanks to my chums and my better knowledge, I’ve come to understand that’s horseshit. Just because everybody else is doing it, doesn’t mean you have to. Put simply, you don’t need a Rolex to be a serious collector. 

2. Think about your style
   If I were a biscuit, I’d be a Digestive. I like monochrome knitwear. I drive a Volvo. I happily fly under the radar. I’m not saying (all) Rolex owners are show-offs. But it’s hard to avoid attention when you’ve got one of the most Instagrammed brands on your wrist. It didn’t feel comfortable or right for me. 

3. Buy it to wear it
   I live in London, apparently one of the hotspots for watch thievery. But I buy all of my watches because I want to wear them - not lock them in a safe. I don’t want to be out past my bedtime because I was too scared to check the time. So it felt like something I’d never quite feel comfortable owning. 

4. Be sure you’re in love
   It’s a really, really nice watch. And it’s an oddball. I usually like things that are a bit off-the-beaten-path. Maybe I like being a contrarian. Maybe it’s Maybelline? Whatever, when push came to shove, or credit card came to insertion, I just wasn’t convinced. I didn’t love it. And I’ve been burned by bad purchases in the past, so I recognised a familiar feeling - the looming cloud of regret that I’ve often approached with the umbrella of denial. Not this time. I’d learned and grown from my mistakes. 

5. Spend your money on things that make you smile
   About a month or so after the Milgauss call, I got another call to say I was at the top of the list for the Tudor Pelagos 39. Yes please! Just a bit! Had I bought the Milgauss I might have kicked myself, as I’d be stuck with a watch that I wasn’t truly in love with - and spent the money that would have paid for a watch I really wanted. I’ve also had a good year buying some lovely pieces from IWC, Jaeger-LeCoultre and Fears, among others. I’d rather put my money there, as those watches really make me smile.

The Pelagos 39, just before tea-time.

It led to a conversation with my AD that felt sad. We’ve become good friends. I knew he’d been looking out for me and was working hard to get me the things I was interested in - especially these trickier pieces. But we’ve got a good enough relationship and all was good. In fact, when the call came for the Pelagos, I snapped his hand off. Hopefully it’s one more proof point that I’m absolutely not into flipping.

Which leads me on to my next point…

Why didn’t you flip it?

Get out! Go on - all the way out! No, further! Keep going!

For the readers who aren’t watch nerds, “flipping” is buying something rare at retail prices and putting it on sale again immediately for a (usually) massive mark-up. With supply and demand what it is right now, people can make a killing - especially on Rolex models. 

So why didn’t I take the Milgauss, knowing I could probably sell it straight on and make a couple of grand? Three reasons:

1. I’d torch my relationship with my AD
   It’s taken me time to build a good, trusted relationship with my AD. Flip a Rolex and I’d be sticking two fingers up to somebody I like and respect - and I might as well say goodbye to getting any other in-demand models down the line. No, that wasn’t an option. 

2. It will make somebody else’s day
   There will be a keen collector just behind me on the list who will get the call to say their Milgauss has come in - and it’ll make their day. They’ll be delighted. I’d rather it went to them - somebody who really wants it and will really value it. And at retail price, too. Maybe somebody will do the same for me one day. 

3. I don’t want to contribute to the grey market madness
   Yes, I know my self-righteous act of public service will barely make a dent in the surface of the flipping problem. But if everybody did what I did, maybe we wouldn’t have the mad problem we have with watch availability and insane prices. Naive? Maybe. But I have principles and I’m sticking to them.

Flipper. (Image: Shutterstock)

So what’s the moral of the story?

Mainly that it’s ok to tread your own path and not get caught up in the madness. Heck, by following my Five Rules you might even feel better as a result. 

For me, Rolex may feature one day. Right now, I rather like the classic Explorer - and especially the new reference 124270. It’s a classic watch and - in the flesh - it’s so solid, sturdy and unassuming. Maybe that’s one for the down the line, but many more things interest me first.

This is now on my to-do list. I love the ‘handwritten’ font - surprisingly relaxed for the Swiss masters. Now, who wants to buy a kidney? (Image: Patek Philippe)

What is exciting is that I’m on the list for a Patek Philippe 5212A-001. When my time comes around, that’s one I won’t be turning down. And saying no to the Rolex has given me head-start funding it. Now I just need to live in a cardboard box and eat beans for the next three years to make up the balance…