Influence of changes in Currency Exchange Rates on Watch markets? Did some of you experience/notice/profit from currency exchange rates in watch markets? For instance, if the British pound suddenly drops in value (you get more pounds of a dollar) and dealers in London dont adjust prices the US buyers can grab the watches cheaper. Or, lets say the USD drops purchases for European buyers get cheaper. Did some of you follow//succeed with this theory?
Always look for currency fluctuations when you can. In 2012 $1.00 AUD was worth $1.12 US, many watches bought from the US. ( at say $0.80 now not so favourable) Brexit announced it was the UK that was favourable. Doesn't mean I wait for these type of scenarios but you bet I take advantage of them when they occur. ( I don't flip so am not doing it for profit and still buy from anywhere if it's a watch I want at a particular time )
I agree with @STANDY The £ dropped against the $ post Brexit vote from 1.50 to 1.25 Since I was lucky enough to have set my package in a currency tied to the $ it meant not only did I get an instant (£) pay rise but everything in the UK was 17% cheaper for me. I only managed to buy 2 watches at UK auction before the recent $-slide but every little helps
I seem to have been selling a lot more to overseas since the drop in the pound. My prices have stayed the same, so naturally, they are now more attractive to those buying in dollars and Euro. Vice versa, I've been buying less from the US, because I get less for my money.
I aggreed to buy a watch about few month ago and we we set the price in US dollars...As the watch is still at the spa, we aggreed to pay and ship when it will be back... The watch cost me 700 euros less today ... And Still at the spa
A lot of watches left the UK when the pound dropped after Brexit. Watch prices did not rise for about 3 months after the devaluation. Ebay uk was a good hunting ground for a few months. Additionally AD’s did not adjust pricing until the next year when mfg’s did their yearly price changes.
The Canadian dollar spent several years hovering around par with the USD. Prices at AD’s adjusted to this so that prices in CAD were not so much above USD levels (aside from taxes). When the USD started appreciating rapidly in 2015 (and CAD depreciating), AD prices didn’t change immediately. I live in Canada but work in the US and earn USD, so I was able to use my higher value USD to buy a watch in Canada for the same amount as what they were selling for used. I haven’t checked lately, but I would assume after a few years of a devalued CAD that prices have risen and this is no longer the case. The trouble for anyone living in Canada and earning CAD is that earnings stayed flat (in CAD terms) but now prices have risen making it worse as far as Purchasing Power Parity is concerned.
I'm gonna bump this up. The US dollar is pretty damn strong right now. Could this be deflating market for int'l buyers? I think summer has been slow, and currency exchange certainly isn't helping. Thoughts?