Waiting List for Rolex Watches Skip to content

Waiting List for Rolex Watches

By Iceland Review

The market for luxury watches and expensive flat screen TVs is growing in Iceland, according to shop owners who sell luxury items.

Frank Michelsen, the agent for Rolex watches in Iceland, says there is a waiting list for the Rolex Submarine watch and he predicts a fight over the watches when they arrive.

Laugavegur. IPA Photo

The market for used expensive watches and highend flat screens is also expanding rapidly according to retailers. Saevar Jónsson, who runs the luxuries shop Leonard, says that expensive jewelry is moving fast out of his shop and it is not uncommon to sell watches costing as much as ISK 100,000 (USD 769 / EUR 641).

The retailers told Morgunbladid that there seems to be a lot of money circulating in the economy. “People have been a little shy in buying expensive things and I have the feeling that they were buying them abroad before because they wanted to avoid gossip. If they buy a watch over one million ISK (USD 7,692 / EUR 6,410), the word can spread,” said Jónsson.

He said his store had largely escaped the recession, as Icelanders now shop at home instead of buying expensive things when they travel abroad. The currency restrictions hinder people from spending large amounts overseas.

The manager of the Sony Center in Kringlan shopping mall, Kristinn Theodórsson, said that they had expected a sales increase in the cheapest TV sets. “People are not buying the most expensive TV sets but they have not opted for the cheapest ones either. We have not seen any decrease in sales of sets that cost between ISK 250 – 400 thousand (USD 3,076 / EUR 2,564). They keep on selling,” Theodórsson said to Morgunbladid.

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