Is it true that ALL profits from Rolex are given to charity?

[manolo maven]

When I worked in the jewelry business, I was shocked to learn that the industry standard markup is triple keystone, which is a 3-fold markup, pretty much across the board. Actually, the finer the jewelry the less the actual percentage markup.

I didn't know that about Rolex, and I am not telling my Rolex-loving DH...he'll think he can buy more since it's for charity!!

 

[pursemember]

When I worked in the jewelry business, I was shocked to learn that the industry standard markup is triple keystone, which is a 3-fold markup, pretty much across the board. Actually, the finer the jewelry the less the actual percentage markup.

so true (therefore only real hate joaillerie or big stones are an actual investment)
it is simply all the houses make the most profit from their low end ranges (casue they do sell so much of them)cartier for example sells a bangle wich may cost them 1k but sell it for 4 k but their haute joaillerie a necklace for one million only sells for maybe 1.3 miliion

 

[toonie]

I was told this as well When I purchased my dh rolex in Carmel Ca. (All profits go to charity)

 

[Perja]

How could that be true? If any company gave away all their profits-how could they survive? How could they pay employees, bills, etc.. Come on!

Those don't go into the profit. If I'm not mistaken, profit = income - expenses (bills, employees, etc.)

 

[Nishi621]

When I worked in the jewelry business, I was shocked to learn that the industry standard markup is triple keystone, which is a 3-fold markup, pretty much across the board. Actually, the finer the jewelry the less the actual percentage markup.

I didn't know that about Rolex, and I am not telling my Rolex-loving DH...he'll think he can buy more since it's for charity!!

 

[Nishi621]

Those don't go into the profit. If I'm not mistaken, profit = income - expenses (bills, employees, etc.)

Sorry-I was drinking that night and not thinking straight-I am usually smarter than that!

 

[luvchnl]

Here is another link...

http://www.watchspot.net/rolexprice.html

????? The current retail on a 16610 Submariner date is $6,000, why does this link show that the retail is $3575.00? How old is this list?

 

[Junkenpo]

^^ I was just going to ask that question! Or at least where they were retailing at those prices so i could go there to shop! lol

 

[ETenebris]

I was going to ask if these "retail" prices are prices TO retailers before their store markup. If not, they are WAY off. The current price for the steel/platinum midsize Yacht-Master is $8500. These are about $2500 off base...

 

[ilvoelv]

How could that be true? If any company gave away all their profits-how could they survive? How could they pay employees, bills, etc.. Come on!

Agreed.

 

[Needanotherbag]

From what I've read the profits go into trusts which are then disbursed to organizations (not just charities). But that price list in the link is off.

 

[gemrock]

as likely as the prophecy about the President and pigs flying...swine flu