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Rolex UK price increase, will Omega follow suit

  1. MIDASCHEN Oct 31, 2016

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    So the big news this week is that Rolex have finally decided to adjust their UK prices, the increase depends on model ranging from 9 to over 11%, e.g. Sub Date £5,700 -> £6,250 (+9.6%), Daytona £8,250 -> £9,100 (+10.3%). So I reckon Omega will want to follow suit. Question is, can they afford doing it? Will that lead to higher discounts offsetting the increase? E.g. DSOTM Pitch Black 311.92.44.51.01.004 could end up costing over 9k (current list 8.2k, market price is around high 5s/low 6s).

    Also word on the street is that there might be further adjustments early next year, due to 10% not really being enough to level UK prices with EU zone/US. Shall we start stocking up on watches? Your thoughts?
     
  2. TTG Suffers from watch FOMO. Oct 31, 2016

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    If you look at the price evolution of the Rolex brand, there was a period where prices were raised annually.
     
  3. MIDASCHEN Oct 31, 2016

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    Right but Rolex is on a different hype level and I'm sure they won't take too much of a hit, in short term at least. If Omega also increase their prices which is what my AD has been banging on about for months now (i.e. that Omega wait for Rolex to make a move) that will be interesting since many think that current Omega retail prices are already OTT. Hence the question, will Omega dare to do it and if they do it can they afford it.
     
  4. w.finkenstaedt Oct 31, 2016

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    Omega hasn't increased prices without changing the watch in some way in recent memory (AT going from $5400 to $6000 or PO going from $6200 to $6550 are the last two comparable price increases).

    I doubt Omega follows suit unless something changes in the collection.


    Sent from my iPhone using Tapatalk
     
  5. DLT222 Double D @ ΩF Staff Member Nov 1, 2016

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    Rolex last year made the dealer take the hit of 5% on the margin. This year the punter gets it!

    Also, if Omega was to follow suit and hike prices on some already over priced stuff like the DSOTM by 10% it would be suicidal as i think they know that the ceramic line is a little over priced already.

    Ive seen in AD windows all the new DSides with 20-25% off without batting an eyelid!
     
  6. Jones in LA Isofrane hoarder. Nov 1, 2016

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    As of today, it appears that Omega wants to hold prices where they are in the UK in order to preserve domestic customers' loyalty

    “Omega and Swatch Group are not opportunistic,” said Raynald Aeschlimann, Omega’s president and chief executive. “To increase sales [prices] would go against our domestic market. For British customers, nothing has changed and we want to keep momentum with those local customers. Raising prices would send a wrong signal.”

    http://www.nytimes.com/2016/11/02/fashion/watches-brexit-sales.html
     
  7. DLT222 Double D @ ΩF Staff Member Nov 1, 2016

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    That's a switched on cookie right there!

    Rolex Milgauss Is now over £6k and a 116613LB is now £10k, hulk is £6600.

    New Daytona is £9100
     
  8. MIDASCHEN Nov 1, 2016

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    As expected then. And would prove that they can't increase their prices much more... or in other words even they know that their products are overpriced.
     
  9. w.finkenstaedt Nov 1, 2016

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    Er, this is economics 101. Look at Apple et al in the technology sector.


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    DLT222 likes this.
  10. MIDASCHEN Nov 2, 2016

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    Apple raised UK prices in line with GBP losing value against USD.
     
  11. OmegaCal66 Nov 2, 2016

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    Looks like high value brands will go up but Omega may stay same for the moment , see this article in NYTimes
    http://www.nytimes.com/2016/11/02/fashion/watches-brexit-sales.html
    “We put our prices up by 10 percent at the beginning of August,” said Mark Hearn, Patek Philippe’s managing director for Britain. “We try to ensure the playing field is level all around the world. If you have one market that is dramatically cheaper than everywhere else, there are customers who will gravitate to whichever market is significantly cheaper.”
    “Omega and Swatch Group are not opportunistic,” said Raynald Aeschlimann, Omega’s president and chief executive. “To increase sales would go against our domestic market. For British customers, nothing has changed and we want to keep momentum with those local customers. Raising prices would send a wrong signal.”

    Glad my Daytona arrived before the increase!
     
  12. ATWG Nov 2, 2016

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    Rolex can raise their prices without taking a hit. Case in point, look at the waitlist for the Daytona, why wouldn't they raise it???

    Omega doesn't have a leg to stand on compared to Rolex.
     
  13. Cobain Nov 2, 2016

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    in other words they aren't taking the risk.

    Also is that Rich Piana in your avatar?
     
  14. MIDASCHEN Nov 2, 2016

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    Shoop ahh, RIGHT BABE? ;)
     
  15. kerrr.splat Nov 2, 2016

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    They did here in Canada. I believe it was a slight $300 increase across the board (at least for speedy pro's). This happened within the last year.
     
  16. meganfox17 Nov 2, 2016

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    There were rumours of a 5% price hike in the OB boutique in Malaysia in August so i decided to get the GM MC earlier. Anyway the Bullshit rumour didnt materialize. Omega Malaysia has no plans to revise the price upwards due to a couple of reasons .
    ■ OB Sales were down in June-Oct & the delay in the arrival of new models
    ■ The currency depreciation of the Malaysian ringgit against the greenback
    ■ Cost of living including housing, food ,transportation & educational fees have gone Up hitting Malaysians hard.
    Heck ! My girlfriend had her marriage postponed twice because her boyfriend was broke !
    ■ Malaysia is a net exporter of high quality oil but since the Brent crude Oil now < US50 per barrel , the Govt has lost US 10 billion in Oil revenues in the last 10 mths. The purchasing power of the middle class income earners have dropped significantly. I had friends who wore Omega & Rolex watches a few years ago. Now It's a little weird & funny seeing them sporting Seikos ,Tissots & VSAs [emoji3]
     
  17. DLT222 Double D @ ΩF Staff Member Nov 2, 2016

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    He sounds a good catch!
     
  18. Cobain Nov 2, 2016

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    More like
    RIGHT B-

    Divorced
     
  19. TheHoof Nov 11, 2016

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    Just had a chat with an AD in the U.K. who claimed Omega are putting prices up after Christmas. No details on percentages.