Sunday, December 15, 2013

Omega was used to be more expenisve than Rolex in the 60s... now it is reversed!

Rolex Ref 1601 DJ TT Pink Gold was sold in HK for HKD$1,846.00
I Sold this watch to someone or HKD$11,000 5 years ago

Was Omega more expensive than Rolex? And How about nowadays?

From some of the old watch collectors who kept saying that the 60’s Omega is more expensive than Rolex.  The Constellation was selling HKD$600 whereas a Date Just was HKD$450 at that time.

Whereas in the 70’s a Date Just two tone was selling at about HKD$1700 and similar Model of Omega Sea Master was selling HKD$1,600. (rough estimation from my memories!)

To the good Financial support of Poor middle class, The Pawn shop was offer a better price for Omega than Rolex. However till end 70 and start of 80, more and more promotion of Rolex had been launched in HK and World Wide that changed the situation.

The Rolex bubble back was selling US$141.75 to US$320 in 1946 in US and An Omega Centenary was selling US$450 in 1949. Omega was very expensive. As at that time Omega was very much accepted as the world most accurate timer, most of the Olympic games selected as official timers!

Until 80’s Rolex had been far pull away from Omega in the selling price as Rolex was gain much more VALUE as comparing with Omega.

In 1966, a Rolex DD yellow gold was just HKD$8,000.  

In 1979 a Rolex Date Just two Tone 36mm was selling HKD$3,750

In 1989 a Rolex Date Just White Gold with leather strap was selling HKD$19,000 net after discount,

In 1992 A Rolex Date Just Solid Gold 34mm with gold Strap was selling HKD$60,000 net after discount.

After 1990, the price of Rolex and Omega under the similar category has a wide price gap, Rolex is much more expensive than Omega.

Another Interesting thing , We bought a British made Bush B/W TV in 1975, with HKD$1,100, and the same year a Rolex Two Tone Date Just was HKD$1,800.  In 1975, an average Worker salary is HKD$250!
If you keep the Rolex until Now, We can easily selling it sway with HKD$20,000, how about the TV?
Yes, you better scrap it as no one will buy.

Try to buy a Rolex Today, after 20 years, there is still a Big Value. If you buy a 150 inch Sharp LCD TV with LRGB LED Back light now, probably it is HKD$60,000, after 20 years. That TV value will be “Zero”!

HK Snob
Watch Fever

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