2024 Resolution

Reflecting on the year 2023, it has been a challenging period, particularly when compared to the relatively prosperous year of 2022. The prices of properties and luxury goods have plummeted, and the HS index has hit a low point of 16000, indicating a bearish market. With just five hours remaining, 2023 is about to become a part of history.

Contemplating my actions throughout the year, I can't help but feel the passage of time accelerating as I grow older. In the second quarter, I set a personal goal to achieve 100 consecutive flip hand push-ups by December 31, 2023. While my personal best stands at 50 repetitions, reaching halfway to my target, I recognize the inherent limitations of the human body. Completing 50 push-ups in one go is a source of great satisfaction, especially considering that there are likely fewer than 5000 individuals worldwide, particularly men over 60, who can accomplish this feat. In 2024, I will continue to explore different methods to further improve my performance.

Maintaining intermittent fasting has been a remarkable achievement, enabling me to sustain a weight range of 129-131 pounds. I am grateful for the vitality it has bestowed upon me and the absence of any medication requirements.

My venture into Wing Chun Kung Fu has instilled me with newfound confidence in handling both work and personal interactions. I am determined to continue my practice.

In terms of my watch collection, I recently acquired an Audemars Piguet Platinum square skeleton manual winding watch, becoming the fifth piece in my Audemars Piguet collection. Looking ahead to 2030, I hope these timepieces will appreciate in value and potentially be sold for $3 million.

Within my family life, I find immense joy in the relationships I share with my daughters and their mothers. They are my angels, and I hold no regrets. My love extends to their mothers as well.

As we approach the dawning of 2024, my sincere wish is for a year free from conflict and strife. May we all enjoy good health and happiness throughout the year.

Regarding my job, I aspire to forge stronger relationships with my customers, assisting them in attaining profitable outcomes, as this is an integral aspect of my professional responsibilities.

Happy new year!

HK Snob

The Market for Luxury Watches in Hong Kong: Analysis and Forecast

Introduction:

The market for luxury watches in Hong Kong has garnered significant attention, with many individuals inquiring about its current status and future prospects. In this essay, we will delve into the dynamics of the market, focusing on notable brands and their price trends. Additionally, we will provide insights into the potential forecast for 2024, taking into account global geopolitical factors and their potential impact on the luxury watch industry.

Current Market Overview:

Currently, the market for luxury watches in Hong Kong is characterized by a lack of transparency in terms of real transactions. Although dealer groups provide trade quotes, genuine transactions are scarce. Rolex authorized dealers (AD) possess limited stock, primarily available to select customers at suggested retail prices (SRP). Moreover, the secondary market for Rolex watches, particularly models like Daytona, GMT Master, and Submariners, has demonstrated relative stability in terms of pricing.

Luxury Brands and Price Trends:

Among the luxury brands, Audemars Piguet has experienced the most significant impact on prices. Hot items such as the Royal Oak have reportedly seen a decline of around 40% in market price. On the other hand, Vacheron Constantin, despite not being in highest demand, has managed to secure some of the sought-after models at prices drops from 30%, a notable decrease from 50-60% of AP comparing with price of 2022. Consequently, the current market presents an opportune time for potential buyers to consider acquiring hot models at comparatively lower prices.

Forecast for 2024:

When looking ahead to 2024, it is vital to consider the global geopolitical landscape and its potential influence on the luxury watch market. Ongoing conflicts, such as the US-RU-UK and IS-PA wars, are crucial factors to monitor. Notably, there are indications that US Republicans may reject any financial support for the UK President, potentially leading to the end of the RU-UK war by Q1 2024. If this occurs, global attention will likely shift to the Middle East region, where growing numbers of individuals feel disconnected from Israeli interests and may advocate for an end to the conflicts. However, the resolution of these conflicts ultimately depends on the actions of the United States.

Assuming the wars in the Middle East do reach resolution in 2024, it is expected that the world economy will experience a surge in positive energy, thereby fostering growth across various sectors. In the luxury watch market, this renewed economic vigor may lead to increased demand and subsequently higher prices by Q2 2024. It is crucial to note that these forecasts are subject to change and should be monitored closely.

Today's Sample Watch Prices:

To provide a glimpse into the current market, here are some estimated prices for popular watch models in Hong Kong:

Rolex GMT Master Pepsi Jubilee: HK$150,000

Rolex Daytona 2023 126500LN: HK$265,000

Rolex Daytona 116500LN (White): HK$220,000

Rolex Submariner 126610LN: HK$110,000

Audemars Piguet Royal Oak Blue 16202ST: HK$650,000

Audemars Piguet Royal Oak Blue 15202ST: HK$500,000 (discontinued model)

Vacheron Constantin Overseas 4605V/200R-B978 (35mm, pink gold): HK$465,000

Vacheron Constantin FiftySix 4600E/000R-B441 (40mm, pink gold, automatic): HK$210,000

Patek Philippe 5711 (Steel): HK$500,000

Conclusion:

In conclusion, the luxury watch market in Hong Kong offers opportunities for both seasoned collectors and individuals seeking good value. It is essential not to be swayed solely by a brand's image and hype, as there are many well-priced watches available. Ultimately, the true value of a watch lies in wearing and enjoying it, rather than keeping it stored away. As the market continues to evolve, staying informed about current trends and developments will be vital for making informed purchasing decisions.

HK Snob

Disclaimer: Please note that the prices provided are rough estimations, as they fluctuate daily, and variations may exist between different dealers.