Luxury watch prices halve

[pedaes]

Advertisement (gone after registration)

The FT carries a front page story that "Luxury watch prices halve as wealthy Chinese sell collections to stay afloat"

One wonders about Leica collections, especially black paint M's.

[Advertisement]

The Leica Q3 is available for pre-order at B&H Photo Video and Adorama

[Viv]

Hmmm. Just try to find a Rolex Daytona at list price.

[LocalHero1953]

I suspect that anything a wealthy Chinese person sells at half price will remain considerably more than I am prepared to pay for a watch.

In fact ANY luxury/collectible item ANY wealthy person sells at half price will be more than I am prepared to pay.

[pedaes]

24 minutes ago, Viv said:

Hmmm. Just try to find a Rolex Daytona at list price.

I don't think they are talking new watches.

[Anbaric]

It's specific to China:

https://www.ft.com/content/3b6559e1-1659-40ea-b12d-0263da809191

'Watcheco, an industry portal for used luxury watches [for Chinese consumers], reported that the price of second-hand Rolex Submariners — a model coveted by connoisseurs and collectors — had fallen 46 per cent since March'

but:

'In the six months leading up to Shanghai’s lockdown, the price of second-hand Rolex Submariners rose by 240 per cent.'

So it's a reduction in prices that had previously become inflated by scalpers and investors, in a particular market, driven by the effect of lockdowns on luxury watch buyers who now find themselves short of cash.

[willeica]

3 hours ago, pedaes said:

The FT carries a front page story that "Luxury watch prices halve as wealthy Chinese sell collections to stay afloat"

One wonders about Leica collections, especially black paint M's.

Weirs in Grafton Street in Dublin has mainly Chinese customers for its high end watches. So much so that the management employs mainly Chinese staff and you will hear a lot of Mandarin etc being spoken when you go in there. A lot of the purchasers are buyers for wealthy people back home in China. Keith, I will show you where to find it when you are in Dublin next October. There used to be a Leica dealer around the corner, but he gave up the franchise a couple of years ago. He sells every other make of camera, though. I have never seen Chinese buyers purchasing cameras of any make in Dublin. I suspect with new watches that each country gets an allocation and the Chinese buyers seek those out. The vintage watch scene would, like vintage cameras, be a whole different world. I don’t see the world being flooded with 0 Series or BP Ms any time soon. 

William 

[Ambro51]

Advertisement (gone after registration)

Yes.  Sell the “Real” watch and get one of the $200 Chinese “Replica” watches.   

[Viv]

On 8/13/2022 at 5:36 PM, willeica said:

Weirs in Grafton Street in Dublin has mainly Chinese customers for its high end watches. So much so that the management employs mainly Chinese staff and you will hear a lot of Mandarin etc being spoken when you go in there. A lot of the purchasers are buyers for wealthy people back home in China. Keith, I will show you where to find it when you are in Dublin next October. There used to be a Leica dealer around the corner, but he gave up the franchise a couple of years ago. He sells every other make of camera, though. I have never seen Chinese buyers purchasing cameras of any make in Dublin. I suspect with new watches that each country gets an allocation and the Chinese buyers seek those out. The vintage watch scene would, like vintage cameras, be a whole different world. I don’t see the world being flooded with 0 Series or BP Ms any time soon. 

William 

Yes, Weirs is a good shop.

Conn's Cameras nearby on Clarendon Street is an excellent camera shop with knowledgeable staff, but regrettably no longer sells Leica gear.

Edited August 15, 2022 by Viv

[Herr Barnack]

On 8/14/2022 at 2:07 PM, Ambro51 said:

Yes.  Sell the “Real” watch and get one of the $200 Chinese “Replica” watches.   

They are very rare, but @Viv should be able to find a new in box Holex Daytona for around $250.

Edited August 15, 2022 by Herr Barnack

[kivis]

I find articles like this just so much poppycock. Carry on.

[willeica]

34 minutes ago, kivis said:

I find articles like this just so much poppycock. Carry on.

Sounds like a quote from Captain Mainwaring, possibly after having been offered a cheap gold watch by Private Walker 😀

William 

[Clook]

On 8/17/2022 at 11:42 PM, willeica said:

Sounds like a quote from Captain Mainwaring, possibly after having been offered a cheap gold watch by Private Walker 😀

William 

Don't tell them your name Pike!