An acquaintance was bemoaning his perennial lack of luck a few weeks back, this being his fifth year on the waiting list for a Rolex Sky-Dweller. In fact, he’s lucky to even be on a list given how things have been for many whose dream of a Rolex has been, well, just that. “No history of multiple purchases with us before? Sorry, but . . .”

Rolex is reportedly producing about a million watches a year, so the question hanging in barren boutiques is “where are they going?” Adding insult to incredulity, clock onto a site like Chrono24 and you’ll find literally hundreds of Rolexes listed for sale, albeit at a higher price than new, but unworn with box and papers.