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The difference is that Rolex doesn't HAVE to discount to move inventory. Someone who wants a Rolex will gladly walk into a dealer and pay MSRP. Rolex has done a good job of building that exclusive brand image that allows them to charge whatever they want for their watches and get people to pay their prices.
In order for Omega to compete with Rolex, they have to show the consumer that they can get a better value for the money by buying an Omega. Even though Omega's MSRP's are already lower than Rolex, the extra incentive of offering discounts helps Omega move inventory, and Omega knows this. I suspect that's why they turn a blind eye to the gray market practice while Rolex cracks down very hard on it.
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