103
Watch buyer meme
(lemmy.ml)
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It even makes sense on some weird level.
Demand still far exceeds supply with Rolex watches.
Which means, if Rolex sold any watch to any new customer as soon as its available, scalpers would keep buying up the entire stock and resell them for a profit.
By only selling the more desirable models to customers who already bought a less desirable one, Rolex prevents that.
The alternative would be raising prices until demand matches supply.
My guess is, they already tried that too, and found out to their delight that Rolex watches are a Veblen good.