What kills the VR market in Hong Kong? Actually I am a loyal fan of VR. I am expecting things will change and correct this VR Market.
In fact since 2015, we have been anticipating a down fall of
VR market in Hong Kong. The main reason is Rolex was trying to launch a lot new interesting watches to
capture market of the fans. New design such as the first ceramic Daytona 116500LN, Batgirl
126710BLNR, Pepsi 126710BLRO which are a lot more attractive than those VR especially to new players. In August 2020, Rolex announced not offering authenticating service for vintage watches, many newbies and even VR supports are so scary of buying
VR. As matter of fact, 80% of first Rolex Watch buyer prefers to go to RVC for
authentication… As they have been listening to a lot of stories of scammers and
dishonest sellers in Hon Kong via newspaper, fb, IG… etc.
Hong Kong was notorious about selling fake Rolex in public in Ladies Street, Temple Street, later on they sold Fake watch through catalogues without actual watches in display, then they and bring you somewhere nearly to see watch to avoid customs inspectors' raid. As a Rule if there is no physical counterfeits watches, less liability to get caught. More recently these kind of business is also dead partly there is no more tourists coming to Hong Kong after 2019 protest and even worse the COVID-19 since Nov 2019 that blocked Hong Kong totally from the tourists coming all over the outside world…
People had to switch to selling watches on internet, you
can see fake watches are flooding on fb, and IG now.
People is selling fake Patek, Rolex, AP on fb… its seems fb
also had technical issue to block them..
The other factor killing the VR marketing is the fact there
are a lot of scammers. These are even out of your expectation on the scale and background
of their companies and individuals.
Many people think that watch come with paper should impossible
be stolen watches.
I told you that still have certain number of brand new full
set with paper are stolen watches.. and someone are being in bail by local
police for a few years. Some of my friends watches were confiscated by the principals once they found that was a stolen.
Cases about VR that is with paper, and a 1680 was re-marked with "Red Submariner” to become single red, with that operation, the price if
the Watch will be two times higher.
Well, it used to be filtered out before but nowadays no one
is able to authenticate them.
A factory Single red dial can inserted on a originally non
single red watch that is coming with papers, they you feel happy and safe about
it, but if this is under Rolex’s judgment, this is not authenticated Rolex
watch at all.
Well, if Rolex does not open his data base to us, of course the would not, no one can
tell if that is the original dial of watch cases on that watch? Even Auction house
does not care if yours is original factory dial or not.. they just auction it as it
is…
So many people are so frustrated and switched from VR to new
Rolex.. that is another reason why all new Rolex are so hot and price is always
up and hitting the ceiling…
Many Rolex lovers are shopaholics, why not dumping money
onto newer watches that Rolex are happy to support “authentication”!
HK Snob
VR = Vintage Rolex year 1989 or before
RVC = Rolex service centre
AD = Authorized dealers
