October 5th 2020 - Snoopy Celebration

YY77 · Oct 14, 2020

Bugbait
Here's another take on the whole partial and full deposits requirement/fiasco:

Omega may have learned from the A11 50th from last year where most outside of the US were not required to place any or only a small deposit. This lead to many on the list being multiple listing and/or opportunists. The multiple listing lead to opportunists getting one or more watches ahead of the customers that really wanted them for personal use. Forums only represent a small portion of watch owners out there and I'm sure customers who missed out feed back their disappointment to the OBs and ADs.

So with the Snoopy 3 Omega want increase the chances of the early batch of watches ending up in the hands of customers who really want it for personal enjoyment (not the opportunists). So they're asking for full deposits in an attempt to achieve this. Full deposits means less multiple queueing from individuals since there is an up front capital outlay. It also requires a serious commitment from a customer upfront so short term flippers may not want to gamble the capital for that duration of time.

I would argue that the deposit scheme has merit for the people who really want the watch for themselves.

In Automotive business the factory, when a new high demand model is introduced (let say an EV), allocates a certain number to their distributors per month/year. Due to high demand it's also the distributors allocating to their dealers on monthly basis based on their area potential percentage wise. So customers in a certain area may need to go to a dealer in a different part of the country to be able to get on the list.

Although is a difference with watches as the contract for a car between customer and dealer is binding (cancellation fee of 15%). I would assume Omega does wants to achieve equal distribution of a watch like the Snoopy 3.

So distribution based on whether a full deposit is placed wouldn't be reasonable if the store only requires a partial deposit or isn't allowed (UK?) to ask for a deposit as it will be a contractual agreement to deliver when they aren't sure they can.

rlskyline · Oct 14, 2020

Bugbait
Here's another take on the whole partial and full deposits requirement/fiasco:

Omega may have learned from the A11 50th from last year where most outside of the US were not required to place any or only a small deposit. This lead to many on the list being multiple listing and/or opportunists. The multiple listing lead to opportunists getting one or more watches ahead of the customers that really wanted them for personal use. Forums only represent a small portion of watch owners out there and I'm sure customers who missed out feed back their disappointment to the OBs and ADs.

So with the Snoopy 3 Omega want increase the chances of the early batch of watches ending up in the hands of customers who really want it for personal enjoyment (not the opportunists). So they're asking for full deposits in an attempt to achieve this. Full deposits means less multiple queueing from individuals since there is an up front capital outlay. It also requires a serious commitment from a customer upfront so short term flippers may not want to gamble the capital for that duration of time.

I would argue that the deposit scheme has merit for the people who really want the watch for themselves.

good analysis. but I think deposit will still not deter flippers as I believe the resale price for snoopy can easily hit usd 15k.

texasmade · Oct 14, 2020

R rlskyline
good analysis. but I think deposit will still not deter flippers as I believe the resale price for snoopy can easily hit usd 15k.

It will prevent them from getting several allocations at once though since it’s going to tie up their capital.

STANDY · Oct 14, 2020

R rlskyline
good analysis. but I think deposit will still not deter flippers as I believe the resale price for snoopy can easily hit usd 15k.

Who is paying 15k when yo can still order one it just takes a few months to get one. People pay more for watches that aren’t available
Grey market aren’t going to sell them for profit when they are still available at
RRP at a Omega Boutique
This is not going to be like a Rolex wait it’s just going to be a wait to they are made.
Not many are going to Pay 5k to save a few months wait and 1 visit to a boutique

YY77 · Oct 14, 2020

STANDY
Who is paying 15k when yo can still order one it just takes a few months to get one. People pay more for watches that aren’t available
Grey market aren’t going to sell them for profit when they are still available at
RRP at a Omega Boutique
This is not going to be like a Rolex wait it’s just going to be a wait to they are made.
Not many are going to Pay 5k to save a few months wait and 1 visit to a boutique

Seems more a post with pumping and dumping in mind.

E-wotch · Oct 14, 2020

Hmmm..wasn't the last Omega Worldtimer (released 2-3 years ago..?) listed as "non limited" yet it's no longer in production?

I could be wrong but it sounds like it may not be unreasonable to expect a pattern if it's true. Just saying.

YY77 · Oct 14, 2020

E E-wotch
Hmmm..wasn't the last Omega Worldtimer (released 2-3 years ago..?) listed as "non limited" yet it's no longer in production?

I could be wrong but it sounds like it may not be unreasonable to expect a pattern if it's true. Just saying.

Do you mean this one, if so it's still available for order?

E-wotch · Oct 14, 2020

YY77
Do you mean this one, if so it's still available for order?

Yes, I heard production had stopped going forward. I'll try to confirm with Omega once their chat service is back online and post back here.

rlskyline · Oct 14, 2020

STANDY
Who is paying 15k when yo can still order one it just takes a few months to get one. People pay more for watches that aren’t available
Grey market aren’t going to sell them for profit when they are still available at
RRP at a Omega Boutique
This is not going to be like a Rolex wait it’s just going to be a wait to they are made.
Not many are going to Pay 5k to save a few months wait and 1 visit to a boutique

yup. but this time round demand outstrip supply by few times so not necessary can get one just by waiting. but let's see

scapa · Oct 14, 2020

R rlskyline
yup. but this time round demand outstrip supply by few times so not necessary can get one just by waiting. but let's see

I think it's more likely that the wait extends beyond a few months to 6, 9, 12.... at which point some will opt for the GM. I'm down for one but if I don't see it within the year I'm perfectly happy to stick with my FOIS and bank the difference -- or, more likely, spend it elsewhere.

Capt Cave Man · Oct 14, 2020

Omega HQ have more than likely been building stock for a few months already to supply OBs as watches are expected to be delivered from November, I suspect the next wave built will be delivered towards the end of Q1 for OBs and ADs.

This isn't an LE piece and as mentioned by Omega, everyone who wants one will get one.

I don't see the price point being heavily affected by the GM or expect the increases being suggested, imho this will only be affected when Omega ends production and by guesstimates on how many are in the wild at that point.

Eastman · Oct 14, 2020

In my watch sales experience, people will still pay over retail for a hard to get Omegas. Even a new model.
In NJ, we only have one Omega boutique since others have closed. Plus, the fact that many buyers don't want to wait what could be a month, three months, etc.
If you have the means and one is available, people will pay. The car analogy used above is quite accurate. A few years ago when the Type R first released, one dealer was selling it $20k over retail (in stock), while another a few miles up the road was selling it at retail based on an order.

petay993 · Oct 14, 2020

Why do people keep saying "everyone who wants one will get one"
How do you know?
Does everyone who wants a BLRO get one? Not limited but you never see them at the AD do you.
This is going to be down to supply versus already very healthy demand.
If Omega make say 7,000 but 15,000 people want one then this statement will be patently untrue.

Arctic228 · Oct 14, 2020

P petay993
Why do people keep saying "everyone who wants one will get one"
How do you know?
Does everyone who wants a BLRO get one? Not limited but you never see them at the AD do you.
This is going to be down to supply versus already very healthy demand.
If Omega make say 7,000 but 15,000 people want one then this statement will be patently untrue.

well said/agreed

Pun · Oct 14, 2020

A Arctic228
well said/agreed

With due respect I don't agree. Omega can't be compared with Rolex in sales and/or marketing hype/scarcity.

What Rolex has achieved so far in relation to supply and demand is not at all related to any watchmaking feast. They are neither the best nor so desirable, but that perception is made and maintained very successfully..

Any other brand getting that with good numbers in production is not so easily achievable.

Arctic228 · Oct 14, 2020

I could be wrong here but I think in the world based off people who know nothing about watches, Rolex comes first followed by Omega. Your average person doesn't know Patek, AP, Blancpain, Panerai, Breguet, etc. The Snoopy 3 is not LE or LP but that doesn't mean they will make enough to satisfy demand.

OB's are already not taking additional people for official waiting list and I find that this watch resonates with people who are not even "watch guys/gals", simply because they could be a fan of Peanuts and/or Snoopy and want this watch for that reason.

There are 3 main brands that have watches that go well above retail on the secondary market; Rolex, AP, PP. But I think after that Omega probably has the most so it wouldn't be that surprising to see this watch end up that way as well.

IMHO I just see demand for this to be higher than supply.

EricCsN · Oct 15, 2020

Try searching for snoopy 1 which you can hardly find anywhere now - whether eBay, Chrono24 etc - and look at the price of snoopy 2 now ( not last week). And you tell me you can secure a snoopy 3 . Collectors are after the snoopy trilogy/trinity- the full set. And every piece.

bbp · Oct 15, 2020

I was told by OB to buy a watch to get on board together with the already very long list of clients who had purchase history. OB also politely hinted it will be unlikely to get the snoopy 3 if i choose to be placed in the interest list which is for the walking clients without history. When i asked which watch should i buy, OB said any watch but they cannot give me a delivery date.... sadly, the feel is no diff from buying rolex hot models...

rlskyline · Oct 15, 2020

B bbp
I was told by OB to buy a watch to get on board together with the already very long list of clients who had purchase history. OB also politely hinted it will be unlikely to get the snoopy 3 if i choose to be placed in the interest list which is for the walking clients without history. When i asked which watch should i buy, OB said any watch but they cannot give me a delivery date.... sadly, the feel is no diff from buying rolex hot models...

are you from singapore? this sounds like the response I had from the Orchard boutique.

bbp · Oct 15, 2020

R rlskyline
are you from singapore? this sounds like the response I had from the Orchard boutique.

Yes! 😉