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Interesting article on Forbes

  1. Jking something intelligent and witty... Oct 13, 2016

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  2. Thomas P. The P is for Palladium and Platinum Oct 13, 2016

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    I don't think that it will affect the prices of vintage watches all that much as they are a completely different market segment than new watches. As far as the prices for new luxury watches, I have to say they have gone too far recently not just in their prices but also their service polices. If I'm going to buy a luxury product that costs as much or more than I car, it should be able to be serviced quickly or the manufacturer should be willing to sell parts directly to the consumer and release repair/service manuals to the public. Part of luxury is good service in my eyes and when it is isn't you aren't dealing with a luxury product. You would think watch companies would willingly make profit selling parts to diyers hoping they come back buying more parts and/or repairs. I'm sure car dealerships love it when they sell both the part and additional parts and repairs when a diyer puts the part in wrong...

    Just my opinions though...
     
  3. watchknut New watch + Instagram + wife = dumbass Oct 13, 2016

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    New watches...what are those?
     
    oddboy likes this.
  4. gatorcpa ΩF InvestiGator Staff Member Oct 13, 2016

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    This mismanagement of the sales model by many of the Swiss brands will result in quicker depreciation of new watches. I doubt that even Rolex will be immune to this.

    One other trick that is not discussed in the article is the concoction of artificially "limited editions" in an effort to imply exclusivity of certain models. This will further erode the consumers' trust in the watch companies.

    At least the luxury car companies make service a priority. I have received pretty much top notch service at my servicing dealer along with comparable loaner cars, when necessary. Any watch retailers that you know offer loaners if a watch needs warranty service? Yeah, I though so.

    Let's see, raise prices, don't protect your customers against depreciation, don't provide prompt service or allow independent watchmakers to provide it.

    [sarcasm]Sounds like a winning formula to me! :thumbsup: [/sarcasm]
    gatorcpa
     
  5. Jking something intelligent and witty... Oct 14, 2016

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    @gatorcpa i agree with all of what you wrote. As someone very new to this the most shocking thing to me was the prevalence of the GM and how much was available. To me GM prices are closer to what most of the public are willing to pay. Im at a loss to understand how an alternate unapproved sales channel had to develop to provide the equilibrium price the market is dictating. While we know some people are willing to pay retail most people even on this board expect discounts at ADs and those stores not willing to play are stuck with having to move their inventory or lose their ability to carry certain brands...this is the reason I was told the last local omega AD in NO stopped carrying the brand and now carry only PP and Rolex (along with several other "lower" brands) as they don't have to worry about the GM hurting sales as much. I wonder at times how some of the sellers on this forum are able to move watches when I see later model pre-owned watches selling for the same price as one brand new on the GM. If there are no warranties on either watch why not get the brand new one? It seems this model is really putting many ADs in a tight spot except for a few certain brands. I'm interested to see how it all works out over the next few years.
     
  6. gatorcpa ΩF InvestiGator Staff Member Oct 14, 2016

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    GM = Grey Market?

    Just checking.
    gatorcpa
     
  7. Jking something intelligent and witty... Oct 14, 2016

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    Yes...sorry should have spelled that out first before shortening.