Greubel Forsey, the Swiss watchmaker that produces about 100 timepieces a year, has reduced its entry-level price by half in an attempt to attract more customers as the industry faces the first annual exports decline since 2009.

Read more: http://www.executivestyle.com.au/sw...ignature-1-watch-in-half-gm8q6e#ixzz3xeR1fBfh


Sounds great, until I read that their new price for their entry level watch is a measly 150,000 swiss francs......

 

So the new price that's half of the old price is almost as much as my house is worth.

 

All jokes aside... this is very serious, and should scare the piss out of the rest of the luxury brands. Greubel is the first to blink, and they blinked HARD. I can't think of any business, anywhere, that cut prices overnight in half, and survived without completely reinventing their business at the same time. A race to the bottom is mutually assured destruction. I'm afraid to say that I think its going to be a bloodbath this year... and I hope I'm wrong.

 

That seems a strange decision. Surely if anybody is in the market for a Greubel Forsey their opening offer will be circa 60/70% off RRP as I've no doubt you'll be able to negotiate a further discount on the Signature 1 from the 50% already offered. That's not so much a race to the bottom as a race to oblivion.