October 5th 2020 - Snoopy Celebration

TolBooth

Curious: why would Omega care?

Watch was sold, they made their money and now it's listed at an inflated price on the secondary market keeping the hype going. Prices wouldn't still be that high if there weren't buyers to gobble them up slowly.

I'm pretty disappointed in Omega and hate to see this "limited production" model take years to get out to the mass market, but you could argue from their side it's "good for business"... I am on the waitlist at my AD at position 40+. The first 3 on the list have put deposits down well over a year ago & Omega has not given any ETA or update to them. The ADs are not happy about this either.

In the meantime, got myself a 2020 Tokyo Rising Sun - maybe I will aquire Snoopy when prices come down to earth in a few years (hopefully..) since my hopes of getting from AD are gone.

nismo

My OB told me earlier this year that Omega was tracking down resellers and serial numbers to ban those individuals from getting future watches as they wanted to stop them from going to flippers. That's what the manager of the OB told me, not some random sales person. He also told me that they wouldn't know who's getting a watch a week or so in advance when Omega HQ tells them they are getting a Snoopy 3. This was very early this year and they had none allocated as they didn't have any customers with high purchase history (6 figure plus). I believed him.

TolBooth

Gotcha, this whole situation has been interesting to follow. I suppose it's the same thing as the LaFerrari's that appreciate 100% in value as soon as they get delivered. Don't think Omega ever expected these to go for such crazy prices on the secondary market (at least this soon.) I've heard the 1 week notice a few times now here, so I'd believe that too.

Dying to see one in person, the photos posted here have me jealous!

nismo

What's even funnier with Ferrari is that there is always more cars than they claim. LaFerrari limited to 499 units when in reality 610+. The LaF Aperta over 240 rather than 210 claimed. Both those numbers exclude the XX cars btw. 497 Enzos when was 399+1 final one for the Pope. All marketing to make it seem more limited than it really is...

I hope to see one in person, too, but at this rate it'll probably only happen if/when I get the one my OB claims I will which they have no idea when. :/

Newatch321

On this one I know that 2 of the delivered watches have been posted on the secondary market and I have not gotten a call. Both put new unused as delivered by OB.

VjaceCZ

The thing is OB employees are not working for Omega so telling this story doesn’t mean anything. Could be true but could be completely false. I’m not saying they lie but…

Anyway I don’t believe the Omega would be so strict hunting down all the flippers and making some real actions to minimize the grey market because that’s what make the real hype. And hype is what Rolex, PP, AP, Omega love and all other brands would like to be in the same situation.

Just my feeling, I’m not saying it’s like this for sure.

I’m on the list since July 2019, hundred times assured that I’m no. 2 on the list but still no call, no email. The lack of communication is just killing me.

VjaceCZ

The thing is OB employees are not working for Omega so telling this story doesn’t mean anything. Could be true but could be completely false. I’m not saying they lie but…

Anyway I don’t believe the Omega would be so strict hunting down all the flippers and making some real actions to minimize the grey market because that’s what make the real hype. And hype is what Rolex, PP, AP, Omega love and all other brands would like to be in the same situation.

Just my feeling, I’m not saying it’s like this for sure.

I’m on the list since July 2019, hundred times assured that I’m no. 2 on the list but still no call, no email. The lack of communication is just killing me.

nismo

My OB told me earlier this year that Omega was tracking down resellers and serial numbers to ban those individuals from getting future watches as they wanted to stop them from going to flippers. That's what the manager of the OB told me, not some random sales person.

Martin_J_N

Flippers, the bain of our lives, but what do you do to stop this from happening?

The watch once bought belongs to the person who paid for it, what they choose to do with the watch is entirely up to them, I hope that the watch they have bought will stay in their possession for many years to come, but not everyone thinks the same and some will sell.

Now Omega, Rolex and any other luxury watch brand can huff and puff as much as they like but they cannot stop you from selling your property, and if the item you sell is a wanted item then you can expect to sell for a profit.

But how do you stop selling to the flipper again, it’s very difficult, you sell a watch to a grey dealer today, it may well be sold tomorrow, how on earth is a manufacturer going to establish who sold the watch in that short space of time?

The simple answer is don’t prolong the launch.

This watch was announced back in April 2020, it was launched on 5th October 2020, it is nearly a year since the watches should have been on sale and people are still patiently (maybe not so patiently) waiting to get their watch.

Omega knew this anniversary was coming, it should have planned better and been ready, if more watches had been available from the outset and supplies of the watch came through much quicker then flippers would have been denied the chance of making the large profits that they have due to the slow roll out of watches.

In addition our thirst to have that latest watch, that fear of missing out or FOMO for short, drives the spiral of price increases on these desirable watches. People buy grey because the product isn’t available at a dealer, the grey market has grown massively in recent years all driven our FOMO issues, if we are happy to pay stupid prices for our watches then we have to expect the market to continue to rise.

If you want to stop flippers create a product that is readily available in store all the time.

Omega have messed up this release massively in my humble opinion, for an OB to state that Omega are on the hunt for flippers is just bizarre, Omega have created this situation and should be looking in the mirror if they want to see why prices at the grey dealer for this watch or any Snoopy watch are so high.

My apologies for the rant but when I hear or read such rubbish out what a manufacturer is going to do to stop flippers it just gets me annoyed, the simple answer is just make more watches, make them quicker and make them available.

In reality Mr Manufacturer doesn’t care about the flippers or the grey market, it’s sold it’s watches, it’s made its profit, if we are daft enough to pay over the odds for our FOMO watch, well that our choice isn’t it!

chadeaux

I disagree, the issue is not Omega nor the flippers, the market is created by the customers that are fine with paying an insane premium for a watch.
I’m of the school of “never above msrp. If it was for me all the resellers and flippers would be out of business.
It’s easier to blame Omega, Rolex, Patek, for adopting the wrong strategy, but the reality is that the commercial strategy is correct, the issue is that there are too many customers that like to gift their money to other people.
Non sense from my point of view.
But we are free in a free market, competing to pay a Snoopy 3 times retail or a Green 5711 450K!

TolBooth

I agree. I think Omega is loving the hype this watch is getting, no doubt!

D delo

Outside of this forum, where is the hype? I search the watch frequently and see very little compared to its competitors.

Martin_J_N

What you say is true but what comes first, the flipper or the fact that the watch is there to be bought at retail+++?

Like you I will not pay above retail for a watch, it is simply not logical in my mind.

But, how does a watch get to be so wanted that it commands a price premium on the secondhand market? Simply the demand must exceed the supply.

If it’s the other way round and supply exceeds demand then you can negotiate a discount, maybe.

I’ll stand by my post, the cause of all current watches being sold in the grey market for retail+++ is simply because the supply is way less than the demand. So when I hear nonsense about Omega this or Rolex that mentioned in the same breath as flipping I know that it is a load of rubbish.

In the case of Snoopy and the 50th then Omega have only themselves to blame, they created this monster and they are certainly not on the hunt for flippers, they know what is going on but they are powerless to stop it. Anything to the contrary is just AD/OB scare tactics to frighten people into believing that Omega are watching what’s going on.

The only worry that manufacturer have is that dealers may be being a bit naughty and selling direct to grey so if that is being looked at that’s fine.

But if you or I decided to sell our newly bought, highly sought after superwatch to the grey market absolutely nothing would happen.

Unless we were daft enough to tell the suppling dealer, then……

If manufacturer really wanted to stop flipping then just make more watches, more watches equals less demand equals less flipping.

Omega in the case of Snoopy and his 50th have done what they have done with all good intentions, celebrate a big honour with a classic watch, it’s just a shame that the watches are taking so long to come through and giving flippers this opportunity. FOMO however is also fuelling the fires, going into the main dealer to be told sorry it’s sold out, then seeing one advertised on the grey market at retail+ so the watch is bought, grey dealer tries the next one they get in at retail++ it sells, the next at retail+++ and so on.

So yes you’re right it is us that are the problem, that entrepreneurial market where we can buy and sell to make a profit. But it only works as long as demand is greater than supply.

How do you stop it, Omega, Rolex et al are certainly not trying to. I don’t believe that you can stop this current economic bubble, it just has to run its course.

Martin_J_N

Flippers, the bain of our lives, but what do you do to stop this from happening?

The watch once bought belongs to the person who paid for it, what they choose to do with the watch is entirely up to them, I hope that the watch they have bought will stay in their possession for many years to come, but not everyone thinks the same and some will sell.

Now Omega, Rolex and any other luxury watch brand can huff and puff as much as they like but they cannot stop you from selling your property, and if the item you sell is a wanted item then you can expect to sell for a profit.

But how do you stop selling to the flipper again, it’s very difficult, you sell a watch to a grey dealer today, it may well be sold tomorrow, how on earth is a manufacturer going to establish who sold the watch in that short space of time?

The simple answer is don’t prolong the launch.

This watch was announced back in April 2020, it was launched on 5th October 2020, it is nearly a year since the watches should have been on sale and people are still patiently (maybe not so patiently) waiting to get their watch.

Omega knew this anniversary was coming, it should have planned better and been ready, if more watches had been available from the outset and supplies of the watch came through much quicker then flippers would have been denied the chance of making the large profits that they have due to the slow roll out of watches.

In addition our thirst to have that latest watch, that fear of missing out or FOMO for short, drives the spiral of price increases on these desirable watches. People buy grey because the product isn’t available at a dealer, the grey market has grown massively in recent years all driven our FOMO issues, if we are happy to pay stupid prices for our watches then we have to expect the market to continue to rise.

If you want to stop flippers create a product that is readily available in store all the time.

Omega have messed up this release massively in my humble opinion, for an OB to state that Omega are on the hunt for flippers is just bizarre, Omega have created this situation and should be looking in the mirror if they want to see why prices at the grey dealer for this watch or any Snoopy watch are so high.

My apologies for the rant but when I hear or read such rubbish out what a manufacturer is going to do to stop flippers it just gets me annoyed, the simple answer is just make more watches, make them quicker and make them available.

In reality Mr Manufacturer doesn’t care about the flippers or the grey market, it’s sold it’s watches, it’s made its profit, if we are daft enough to pay over the odds for our FOMO watch, well that our choice isn’t it!

texasmade

Rolexforum!