An ordinary Rolex or Patek Philippe watch can cost you over R100k.
Acquiring items from luxury brands such as Rolex and Patek Philippe is not as easy as walking into the store, swiping your card and walking out with the watch. Despite Rolex recently opening a store at the Diamond Walk in Sandton City, there’s still a vetting process before you can own one.
Michael Zahariev, co-founder of Luxity, says people expect to walk out of the store with any Rolex on the same day, but this is highly unlikely, especially if one does not have a relationship with that store or brand.
“Walk into the boutique and request a Submariner, Daytona, or GMT-Master II, and you are unlikely to leave with one that day,” he says. “At best, your name may be added to an ‘interest list’, typically without a confirmed timeline. Allocation decisions are rarely transactional; they are relationship-based.”
Relationship with the dealer matters
Zahariev emphasised that getting on and staying on the list comes down to one’s relationship with the store and how much weight your name carries.
“If you’re a celebrity or a long-standing client who has spent significantly at that boutique, your chances of receiving a call improve dramatically. Walk in for the first time with R500 000 in your pocket, and you may be politely declined.”
This is not just with Rolex; a similar process occurs when trying to get a Hermès Birkin or Kelly bag, which can take up to six years to get your hands on, and that’s only if you have already been spending at the boutique.
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Gatekeeping Rolex
Many luxury brands, including Rolex, have faced scrutiny over allegations that sales associates screened customers’ social media and home addresses to determine whether they were worthy to buy.
Zahariev says Chanel has introduced purchase limits. Patek Philippe reportedly asks prospective buyers to write a letter to the CEO. Ferrari requires clients to have an established purchase history spanning multiple vehicles before being considered for a limited-edition model.
“Money, it seems, is merely the entry requirement. Clout is the actual price of admission.”
According to the Rolex website, one of the cheaper watches, depending on the model, is the Land-Dweller, which can set you back R274 500. In contrast, Patek Philippe does not list prices on its website, and its watches are only available through authorised retailers, with no direct online sales.
The psychology of scarcity
Zahariev says luxury houses operate on a principle that mainstream retail avoids controlled supply. “By limiting availability, brands protect pricing power, preserve exclusivity and reinforce long-term desirability.
“Research in behavioural economics supports the approach, visible scarcity tends to increase perceived value. The anticipation, wait, and eventual ‘call’ from a boutique become part of the ownership narrative.”
He highlights that Rolex manufactures its watches in tightly controlled quantities; Hermès insists that each Birkin takes up to 40 hours to hand-stitch by a single craftsperson – a production constraint that ensures demand will always outpace supply.
“The brand also spends just 4% of its revenue on advertising – a fraction of what most fashion houses invest. It doesn’t need traditional marketing; the waitlist does the work.”
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The secondary market is the go-to
Zahariev notes that the consequence of constrained supply is a fast-growing secondary market.
“The pre-owned space has become the go-to for savvy shoppers who want the piece without the years of waiting or the indignity of being assessed for worthiness before they’re allowed to spend their own money.”
South Africa’s pre-owned luxury segment grew 27.86% in 2025, even as broader luxury retail remained comparatively subdued with a recorded flat growth of -1%. “The pieces are out there, and you might pay above retail, but consider what that buys you: immediate access, full authentication, and zero indignity,” he adds.
“There’s also a privacy angle that’s easy to overlook. In a world where boutiques may quietly scroll your Instagram before deciding whether you deserve a handbag, many buyers and sellers are choosing transactions that don’t require them to prove anything to anyone.”
The art of making you wait
Zahariev says the resale market exists precisely because the primary market can be inaccessible, even for the wealthy.
“For many, immediacy and certainty now trump the performative ‘retail experience’. South Africans recognise that flagship boutiques function less as stores and more as gatekeepers, designed to reward legacy patronage while sidelining the aspirational class. It creates a closed loop that feels fundamentally undemocratic.
“The brands have perfected the art of making you wait. What they didn’t anticipate is a consumer sophisticated enough not to.”
A better investment
However, for some people, buying these brands is not for style and fashion; it is because they have been recognised as a better investment.
Buying a Rolex today and three years later, it is worth more than what you paid for it. That is exactly what is happening, with resale values climbing from 87.5% in 2021 to 104.9% in 2024.
The cheapest pre-owned Rolex watch on Farfetch is a Colt, priced at $2 188 (approximately R36 386,66), while the most expensive is the 2022 pre-owned Daytona Cosmograph, priced at $545 985 (R9 074 379,90).
When it comes to a Patek Philippe watch, the cheapest one Farfetch has is the Ellipse 3349, priced at $9 235(R153 538,27), with the most expensive being a 2018 Nautilus 5711/1A-010 ‘Tiffany & Co.’ priced at $332 032 (R5 520 974,27).
It is worth noting that the cheapest pre-owned Patek Philippe item one can buy on Farfetch is the 18K white gold Nautilus square cufflinks, priced at $5 396 (R89 808,40).
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