October 5th 2020 - Snoopy Celebration

s2000_driver · Dec 28, 2020

Looks like most OBs are saying that the allocation is being managed by Omega HQ. As far as I know it is based on spending history. At this point, I don't believe one's position on deposit lists matters. Omega are trying their best to keep these watches out of the hands of flippers. But, looking at Chrono24 it doesn't seem like whatever they are doing is not working. Omega did not publish the number of watches they are going to produce. Don't be surprised if they use this highly speculative market and the interest from hype beasts to quietly sell several thousands of these watches. We will know in a few years from the secondary market prices...

stevec14 · Dec 28, 2020

s2000_driver
Looks like most OBs are saying that the allocation is being managed by Omega HQ. As far as I know it is based on spending history. At this point, I don't believe one's position on deposit lists matters. Omega are trying their best to keep these watches out of the hands of flippers. But, looking at Chrono24 it doesn't seem like whatever they are doing is not working. Omega did not publish the number of watches they are going to produce. Don't be surprised if they use this highly speculative market and the interest from hype beasts to quietly sell several thousands of these watches. We will know in a few years from the secondary market prices...

Do omega really care about flippers? The demand is apparently stratospheric if you read some of the posts here and given so much of the demand for this watch is doubtless based on the success of the last one it’s always likely to be sold to many of those types irrespective of whatever apparent vetting there is.

I think you are right though. They’ll sell thousands of these. They’d be mad not to. They have (apparently) queues of punters wanting to spend £8k/$10k on a speedmaster - they must be rubbing their hands together...

Omega-Q · Dec 28, 2020

So, what would Omega's recourse be for flippers? Once the individual has paid for the item, they can really do what they want with it. From a legal perspective, I'm not sure what they can truly do. It's not like we signed a contract promising not to ever resell the watch. This is one that I will sit back and watch...

rhr321 · Dec 28, 2020

They can’t do much, but it may limit your ability to get other limited or highly desirable watches in the future from the boutique.

stevec14 · Dec 28, 2020

rhr321
They can’t do much, but it may limit your ability to get other limited or highly desirable watches in the future from the boutique.

How could they even police it. No one shows serial numbers on ads, and it’s not like they are going to send someone round to check you’ve got the watch.

omega/ swatch are in the business of selling watches. Whether someone flogs it later on I suspect is irrelevant. So if you sell when you are bored if it after 2 years, you are barred from buying another?

I’m surprised my AD even let’s me through the door on that basis....

rhr321 · Dec 28, 2020

You are obviously in the camp that there will be enough supply to match demand. That remains to be seen. They have been secretive about how many they are making.

Anyway, either the Revolution article was marketing BS, or Omega really does care about getting this into the hands of genuine customers who want the watch and not speculators looking to make a quick buck.

stevec14 · Dec 28, 2020

rhr321
You are obviously in the camp that there will be enough supply to match demand. That remains to be seen. They have been secretive about how many they are making.

Anyway, either the Revolution article was marketing BS, or Omega really does care about getting this into the hands of genuine customers who want the watch and not speculators looking to make a quick buck.

I am in that camp, but t’s got nothing to do with that really. The whole idea they can control what happens to any watch after it is produced and sold is garbage.

I don’t know about the revolution article and maybe it is BS, but I think they were also quoted as saying that everyone that wants one will get one - so make of that what you will. RJ, who I would believe over most on omega matters, seemed to think that the early under 5k guesses were wrong. That would make sense to me - the last Apollo had 7k and sold and according to many the demand for this is much greater.

there’s a lot of conflicting stuff on this so remains to be seen what really happens of course. Clearly there haven’t been many deliveries and already they are on chrono at £25k with the initial jokers so it ain’t working and nor can it really.

rhr321 · Dec 28, 2020

Yeah, time will tell. I have both Apollo 11 50th anniversary pieces from 2019. The boutique was far far far more transparent and open about what to expect on delivery, how many were allocated, and what to expect in terms of rough delivery timing. With this Snoopy, they’ve done a 180 on transparency.

stevec14 · Dec 28, 2020

rhr321
Yeah, time will tell. I have both Apollo 11 50th anniversary pieces from 2019. The boutique was far far far more transparent and open about what to expect on delivery, how many were allocated, and what to expect in terms of rough delivery timing. With this Snoopy, they’ve done a 180 on transparency.

Which kinda makes sense - they were LE’s and not limited productions. So boutiques would know fairly early on what they could expect. I have the Apollo 11 steel and knew exactly where I was most of the way as AD’s had confirmed pieces from early on.

this I guess is a little different in that actually omega could shift their approach at any point so it’s more difficult to be as dogmatic about it. But I still think that given they are driven by sales and shareholders they have little benefit in keeping this scarce.

texasmade · Dec 28, 2020

When I get mine I’m going to list it on chrono24 as heavily worn Snoopy 50 In good condition for $1,000,000. I’ll even throw in an extra flat link A11 5th bracelet with the strap.

EricCsN · Dec 28, 2020

texasmade
When I get mine I’m going to list it on chrono24 as heavily worn Snoopy 50 In good condition for $1,000,000. I’ll even throw in an extra flat link A11 5th bracelet with the strap.

any watch, model or brand for that matter, you could do the exact same and now.

scapa · Dec 28, 2020

texasmade
When I get mine I’m going to list it on chrono24 as heavily worn Snoopy 50 In good condition for $1,000,000. I’ll even throw in an extra flat link A11 5th bracelet with the strap.

Ha! Was just thinking that. Maybe with some extra immortal lines like "LNIB!!! MUST SEE TO BELIEVE!!! WARRANTY CARD/PAPERS SHOW SOME STAINING PLUS ONE OR TWO SCRATCHES OR DENTS EASILY POLISHED OUT (CAME LIKE THAT FROM AUTHORED DEALER!!!) CAN'T HARDLY BE SEEN CEPT IN BRIGHT SUNLITE OR W/O LOUP!!!!!

And you'd still be lowballed. First watch I ever sold was a Hamilton, meant to put it on for 350.00, but somehow forgot or mis-typed the zero. Within a few minutes there was a PM from a guy offering "30.00, finger's on the PayPal button, ready to send money RITE NOW!!!"

flash_in_the_pan · Dec 28, 2020

Omega-Q
So, what would Omega's recourse be for flippers? Once the individual has paid for the item, they can really do what they want with it. From a legal perspective, I'm not sure what they can truly do. It's not like we signed a contract promising not to ever resell the watch. This is one that I will sit back and watch...

The SA I dealt with when I made my deposit mentioned the OB had received deposits from people all over the country (USA). Hopefully Omega has someone compare the deposit lists from each OB and move the people ordering from multiple OBs to the bottom of the list.

texasmade · Dec 28, 2020

scapa
Ha! Was just thinking that. Maybe with some extra immortal lines like "LNIB!!! MUST SEE TO BELIEVE!!! WARRANTY CARD/PAPERS SHOW SOME STAINING PLUS ONE OR TWO SCRATCHES OR DENTS EASILY POLISHED OUT (CAME LIKE THAT FROM AUTHORED DEALER!!!) CAN'T HARDLY BE SEEN CEPT IN BRIGHT SUNLITE OR W/O LOUP!!!!!
And you'd still be lowballed. First watch I ever sold was a Hamilton, meant to put it on for 350.00, but somehow forgot or mis-typed the zero. Within a few minutes there was a PM from a guy offering "30.00, finger's on the PayPal button, ready to send money RITE NOW!!!"

I’ll take a low ball offer of just $500,000. 50% off my asking price!

s2000_driver · Dec 28, 2020

flash_in_the_pan
The SA I dealt with when I made my deposit mentioned the OB had received deposits from people all over the country (USA). Hopefully Omega has someone compare the deposit lists from each OB and move the people ordering from multiple OBs to the bottom of the list.

If I had to guess, deposits/lists etc are just one "tool" for Omega to gauge interest. It is unlikely that they are going to spend time comparing lists from different OBs to weed out flippers. They will likely to continue allocating based on customer profiles. They already know who their repeat customers are, who buy Speedmasters, what kind of watches they send in for servicing etc. There are all sorts of analysis tools they could use to run such reports. I find it very hard to believe that just because someone in the US puts a deposit and is on a list, that order will somehow be followed for deliveries. Let's not forget that different markets have different laws and there are regions where there are no deposits allowed. So, how does Omega decide how many pieces each country gets? There is a lot that we don't know.

There is no way Omega can go after every flipper. They may "flag" some customers if they get reported. Who knows? They say they are trying to keep flippers away, so I am going to take it at face value for now. If someone buys it, gets tired of it after a while, they should be able to sell it without judgement. It is only the folks who buy it with the intent of immediately selling it at a markup that are the problem.

I do hope that Omega gradually and quietly makes a lot of these watches to meet all the demand; similar to Apollo 8 DSOM. A limited production piece not limited edition. I like the fact that they did not cap themselves. They designed and produced this watch, so they should get all the proceeds.

Hany_AE · Dec 28, 2020

I am somewhat new to watch collecting but I’ve been interesting in luxury products for a long time.

Everyone that says that Omega should produce as many as possible to meet demand and to make more money, seem to forget that most luxury brands want to have those halo products that people can only aspire to own and that drives demand for the rest of their product line. Even if you have the millions, you can’t just walk in and order the latest Ferrari supercar. You have to buy a few lesser model, they need to get to know you and eventually you get to be offered the top of the line. I feel it’s the same here. Maybe you don’t get the snoopy 3, but in the next 5 years you buy a few other models, create a relationship with your OB and then you get the next one.

I believe that to supply enough to meet current demand on Snoopy 3 would be less lucrative for Omega than to offer to selected few and keep the high demand for future limited/special releases and regular catalogue models.

s2000_driver · Dec 28, 2020

Hany_AE
I am somewhat new to watch collecting but I’ve been interesting in luxury products for a long time.

Everyone that says that Omega should produce as many as possible to meet demand and to make more money, seem to forget that most luxury brands want to have those halo products that people can only aspire to own and that drives demand for the rest of their product line. Even if you have the millions, you can’t just walk in and order the latest Ferrari supercar. You have to buy a few lesser model, they need to get to know you and eventually you get to be offered the top of the line. I feel it’s the same here. Maybe you don’t get the snoopy 3, but in the next 5 years you buy a few other models, create a relationship with your OB and then you get the next one.

I believe that to supply enough to meet current demand on Snoopy 3 would be less lucrative for Omega than to offer to selected few and keep the high demand for future limited/special releases and regular catalogue models.

The Ed White 321 is their halo product. I don't think Snoopy 3 is. The hype is being driven by the crazy secondary market prices for the Snoopy 2.

I think folks completely understand Omega allocating, or at least trying to allocate these watches to known collectors. That doesn't always work. There are always some who purchase hot pieces just to make a quick buck. So increasing production is one way to discourage such characters while keeping the true collectors happy. Of course that supply-demand balance is definitely easier said than done. Let's see how this one plays out. I sincerely hope that we don't see Omega playing Hermes - Birkin games. Some of us are quite turned off by Rolex playing that game.

Hany_AE · Dec 28, 2020

I don’t disagree that the Ed White is a halo product, but in my opinion I believe it’s a watch for people that are already Speedmaster collectors and enthusiasts, where the Snoopy 3 can attract a larger pool of buyers to the brand.

I think a lot of people want to have something recognizable on their wrist and the 321 looks like any other Speedmaster Professional to the untrained eye, so they may not see the value of spending almost 3 times the price of a regular Speedy for it.

STANDY · Dec 28, 2020

Hany_AE
I am somewhat new to watch collecting but I’ve been interesting in luxury products for a long time.

Everyone that says that Omega should produce as many as possible to meet demand and to make more money, seem to forget that most luxury brands want to have those halo products that people can only aspire to own and that drives demand for the rest of their product line. Even if you have the millions, you can’t just walk in and order the latest Ferrari supercar. You have to buy a few lesser model, they need to get to know you and eventually you get to be offered the top of the line. I feel it’s the same here. Maybe you don’t get the snoopy 3, but in the next 5 years you buy a few other models, create a relationship with your OB and then you get the next one.

I believe that to supply enough to meet current demand on Snoopy 3 would be less lucrative for Omega than to offer to selected few and keep the high demand for future limited/special releases and regular catalogue models.

But a lot of people wearing a watch that is limited all be it 3 years is good Marketing for any luxury brand. Omega is not like Ferrari and can not be compared to cars in my book.

This relationship with Boutique is becoming to wear thin as relationships will mean nothing as like most countries you can buy most Omega watches online.
The relationship

has come from Rolex and it’s not the same with Omega to the same extent.

Hany_AE · Dec 29, 2020

I know the word “relationship” has a bad reputation but to me it can also be a great tool. If every time someone who has more money than me gets priority because they can buy 2-3 watches at a time and gold models, then I would never get the references I really want.

I have a great relationship with my AD (no OB where I live) and I know he values my business and will give me a fair chance to get what I want, even if I’m not his biggest customer.