Xmas Greeting to all watch lovers

Day Date 1803 Year 1978 for sale

Day Date Buckley dial NFS

Day Date Buckley Dial NFS

Explorer II 16570 with patina dial

1929 Solid gold Oyster 31mm with hidden crown California dial manual winding 

IWC 18KT manual winding 34mm 1950 For sale

Daytona 16528 inverted 6 white dial

Day Date 128348RBR Turquoise with dial, I suspect this will be the hot item in 2022

Date Just 126234 Palm Brand new with paper on sale 

Roger Dubuis Easy Dive 46mm with box paper on sale 

 

We had a wonderful X'mas gathering yesterday, we had some of the watches sharing and would have an update on the latest trend of watches, and the speculate price trend in 2022.

HK Snob 

What will be the watch market in 2022 Q1?

 

Discontinued model

Rolex Daytona steel 116500 was speculated to be discontinued by Jan 2021, price was raised to $310K highest ever by Dec 2020. Now the price of it is still moving around $280K. I think it will not be discontinued by Q1 2022.

Tiffany Blue

Since Patek Nautilus 5711 steel Tiffany blue hit a auction price of $40M. All watches come with Tiffany Blue because the target of all watch lovers, flippers and dealers, it reached price of $670K yesterday.

Today another seller is asking $1.8m! I can’t believe my eyes. Well, I think there might be people buying but there are still many cheaper offer from $200K to $600K… he has to wait for all the lower price watches been sold first. He may have patience to. But I cannot underestimated the operation fo Rolex

They might have controlled not to produce as many as Patek 5711 Tiffany blue 170 pieces.

That is killing all watch lovers and we think Rolex is the new currency now. Cash in bank gets no interests but Rolex can make 200% in one year.

What is next after Tiffany Blue?

I think there is a hidden diamond under the palm tree, yes the Date Just 126234 Palm green with jubilee bracelet as I have seen juts three pieces in the past 8 months in Hong Kong.

Well, I am looking for another one

General market situation

Generally we see more buying and trade in these November and December due to Xmas season and new year, and I think price is better for December, as no one want to keep a watch over the year, it will become 2 years old after December 2021.

If you want to buy watch from open market get it now, price is usually lower for Date Just or non-popular models. For those hot items, the price will be getting higher after January as factories are closing for Xmas and new year vacations.

HK Snob

Tiffany Blue magic 2021 on Patek, Rolex and UNDONE

On 11 Dec, 2021 Philips had an auction on a Patek Philippe Ref 5711 in Tiffany Blue with a hammer price of US$5.5M! It was a shock to most of the watch lovers and possibly not for some of the auction insiders. To me it’s a disappointment as it will be impossible for me to buy this piece of watch.

That is in fact another record high for a plain modern Nautilus stainless steel watch… there will be total 170 pieces of such watch will be made as the Company’s 170^th anniversary watch.

This was only trigger of the Tiffany Blue magic. Rolex had launched the OP 36 and OP 41 Tiffany blue in September 2020. 

That has two model ref 114300 41mm with SRP $46,400 and Ref 126000 36mm with SRP $43,400 only as the low price tag of all Rolex.

In the past 12 months, I have observed that OP41 was rising up to $140,000 whereas OP36 is floating around $120,000 for more than 3 months.

But after Dec 11 Philips Auction on the Patek Tiffany 5711 Tiffany blue, we have obviously seeing abnormal price up on these two Rolexes. Well, as of today, I could see the OP41 is selling from $250,000 to $679,000 that is over 14 times the Rolex SPR.

Even people speculate the price will further moving upwards further, but i cant tell as this is absurd price to me already. 

I think these are some of the reasons behind.

     Many people could not get the Patek 5711 Tiffany blue, in fact only 170 pieces of such watches will be made, so get hold of the Rolex OP41 or OP36 as second choice. Economy is still able to support the crazy price at this level.

I really cannot tell what is the next level of price up and the number of buyers actual had confirmed the order.  

Recently UNDONE has launched a Stella dial watches made of 316L steel DLC coated running with Seiko VK series Mecha Quartz movement, one is in Tiffany Blue and one in pink. They are produced under Limited number of 300 pieces each colour.

As a fan of UNDONE, I am the early bird to purchase through walk-in to the HQs of UNDONE at TST for two pieces both are under S/N 007/300, I simply like it as its nice in Tiffany blue colour, functional , sportive, and affordable for me. Price may be up soon but not as crazy as Rolex OP or Patek 5711 for sure.

So what is in your mind?

HK Snob

Rolex Tiffany Double name

These three watches were bought in 2020 Q1 with HK$630,000 from a private collector.

How much do you think it worth now? I think it is about HK$1,000,000!

HK Snob

Insane 2021, Crazy 2022

Watch market is hotter than ever which is what no one could expect two years ago. People keep saying bubbles burst... No, it never will because…as far as I know today.

The COVID-19 pandemic lasts more than two years with no indication when they could be come to an end, and all countries are forced to live with the virus except the great China. Pfizer vaccine drugs keeps selling their booster jab globally. What a boring period for most of the middle class, rich and poor.

Most countries’ tourism, airline, retail shopping industry died, people suffer from no travelling, no flying.

Air freight and food delivery business is blooming a few times over the last two years.

Real estate price is not as good as two years ago.

USA is printing money on 24 hour OT basis.

Many younger generation is putting a lot of speculation on, Bitcoins, NFT and Metaverse.

Someone bought some NFT and get $1m sold after two days, that is someone’s annual income…

US inflation is historically high and money is not money, Rolex is gold as what I am always saying…

What kind of investment you think you can do in these days as people need to spend their money before losing the value.

Nowadays someone on his fb page says Rolex is a new currency.

Well, watches are easy to sell, it is a kind of personal show-piece, an iconic display on your professional status, of course those who are wearing an RM going to a 5 star hotel with his Lambor handled by the valet parking. These people is bona fide SSVIP at Patek Boutique, who will be called to collect his 5712 five months after his last 5711R, whereby I had to wait for my son to collect a 5167 if I were lucky enough!

A RM, Patek, AP or even Rolex could easily reaching a price tag of 1.5m at grey dealers with their original MSRP of $300,000!

What can we do about it?

I am figuring how and I am going to give some tips on next article after discussion with a few watch collectors and investors.

Appendix some of the typical sample of watch price

Watch price Ref Daytona 116500LN was $210,000 in 2020, now $295,000.

Used AP 15300OR sold in 2020 with $160,000, now $300,000

Rolex 16613 Submariner Two tone Serti was $60,000, now $90,000

Rolex 126000 OP Tiffany Blue 36mm was $67,000 in 2020, now $120,000

Patek Aquanaut 5167 was $320,000 in 2020, now $495,000

HK Snob