How possible a Young Kid earns US$20,000 a month?

He is wearing an APRO yellow gold

You may know that 40% of Rolex Watches are shipping to Hong Kong.

HK is the Asia hub for Swiss luxury watch distribution.

Only in Tsim Sha Tsui area, there is about 200 Watches shops selling these watches.

Last year a young kid came to know me through this blog and he wanted me to share my experience in watch collection and selling watches...

He was just 17 years old, and he started knowing my because he asked my help to deal with a watch purchased in one of a famous TST watch shop. His watch was a Tudor Submariner who he bought as new at this shop, but next day when he washed his hands it was later found water vapors inside, that shop blamed he did not lock up the crown properly... I helped as I know the shop but the shop insisted not to replace with a new one, asked him to repair at Rolex Service Centre.

Finally he went to Rolex Service Centre to salvage his watch and Rolex retuned him two week later FOC.

That is a Sad experience, for a kid who is still studying as HK$25000 was a big amount of money to him by that time.

He joined our watch gathering and he told ne he is starting to make some money on watch.

Well, I told him not to hurry and must calculated carefully as watch business market is low, especially new watches... Vintage watch is better but the problem is how to source a good vintage watch?

We had been meeting and talking a lot on this topics... Rolex Market, Price information, market price trend, what is mostly profitable  and which is not and he came to me one day showed me watches he bought that day...

OMG, he bough 4 Rolex, one Omega and one Tudor just in One day..!

Well, his strategy is to sell to USA for making like HK$1000 to HK$2,000 per watch...

That is considered a very low profit as he had to send watches to USA and collect money by wiring..

He had to bear the shipment cost which is 30% of his profit and it took time...buying and going to Courier after school.

I told him, go doing it as it may build your network and Trust... somehow you can buy from your USA partner and if he has some good stuff he can send him...

His DISADVANTAGE become his Advantage as he is not HK people, he cannot speak local Chinese... So he must have to deal with USA or other foreign client as he is good at English... That lead him to work along this direction with his Client..

I still remember he helped me to sell my GMT master Fuchsia to his USA partners, and he is so honest to declare the true value of the watch US$16,000 to the customs, and the watch was taxed US$800 on arrival to his client... my fault was not to infirm him there prone to be having tax in USA...

After months , he had already established TRUST with his buyer and seller in USA. and since then he can ask whatever watch that is sellable in Hong Kong, and Ship something with good margin to USA.

Probably his father is aware that his kid is running business and lending his some capital to make a bigger purchase...

Sooner I saw him buying and selling Patek Philippe 5711, 5712, steel and Rose gold version.

and I met him one day at TST, oh, he was wearing an Patek 5712R...

I think he is on the right track and I could see that is he doing very good.

In Short, I think his winning factors are:

Broad product knowledge

Fast learner

he has guts to make big pruchases

He speaks good English.

He is young but looks mature so people can trust him seeing his picture without knowing his age

Honesty- one of the key factor to do business

Broad network through fb, IG and Messenger.

I met him at Sham Shui Po MTR yesterday and he was wearing an APRO in yellow gold in blue dial. That is a watch of US$50,000

Well, I think that he is making money US$10,000 to US$20,000 a month

Being a 18 year old school kid, I think he is doing very good..

Moral of this story is don't blame the society , don't blame the government, make a way to make your own fortune, there is no short cut... Hardworking, Honest, move faster, move one step ahead your competitor will likely make a big difference.

HK Snob

Rolex Day Date Ref 18039

This is an awesome piece of Day Date with Salmon Buckley Dial, even less in white gold.

I am looking for the bracelet for it.

Day Date is the flagship line of Rolex,

1803, 18039, 18038 is one of the best Day Date ever made by Rolex

HK Snob

Rolex Date Just Ref 16238 Lapis Azuli dial

This is a Rare and beautiful Watch from Rolex, made with Lapis Azuli dial. This is one of my watch.

An E series watch with newly service movement from Rolex, a paper with my date of birth this month this year.

Lying beside is a Montblanc King Joseph limited Pen with 4810 pieces. of course very lucky number also.

HK Snob

Price of Rolex in September 2019

It is September, Hong Kong's Protest hasn't come to an end yet.
Well, I always believe China had it Option B, Option C standby.
Don't Under estimate the China Power to take Hong Kong as the second consideration instead of first.
And The US-China Trade war will last for year till Trump's next election.
Going into the September, the picture is not yet clear on the pricing of Rolex, Patek and AP.
Well, it is still maintained at a Reasonably level,


People started to ask me if this is the time to buy Rolex at premium price, well, I bought at highest price that is why I will not buy, but if you can afford to and if you like it, should be OK to buy.


This is for Reference Only, the dealer trade price for Rolex:


Pepsi 126710BLRO $132,000
Batman Discon 116710BLNR $138,000
Batgirl 126710BLNR $123,000
Hulk 116610LV $113,000
Daytona White 116500LN $190,000
Daytona Black 116500LN $182,000
Submariner 116610LN $85,000


Price is HKD , average prices between Dealer in the week, for your reference only
All are no box, if box wanted , add HK$1,000


HK Snob

Watch price in Hong Kong in August

Hong Kong is facing serious political convoy between some of the Hong Kong people and China.


Some of the Chinese restaurants are closed as they have no business in Saturday and Sunday at the protest area. Visitors are not willing to come to Hong Kong.


People is hesitated to spend money on Luxury goods including watches.


Watch price had been dropped more than 10% over the new or vintage Rolex.

Nautilus hot models price has been dropped over 15% even.


Hope that this is a short term only and Wish watch price would be stabilized by September.


HK Snob

Certain Watch Investment

A friend of mine has been doing such buy and sell of certain goods: Watches for more than ten years.
These are some of the items he has done in the past five years which is having pretty good return.


1. 2017 Rolex Daytona 16520 A series black NOS full set Bought $130,000 - sold in 2018 to an Italy Buyer $180,000 -Nett Profit $50,000
2. 2018 Two Rolex Daytona 16520 A series NOS full set bought $250,000 - sold two weeks later to a USA famous Buyer $300,000 - net profit $50,000. if he sells now, he can extra more $120,000.
3. 2017 Bought a Rolex Submariner 16618 Onyx dial with $178,000 - sold this year to a US car agent owner $330,000- net profit $152,000
4. 2016 Bought a Rolex Daytona 16618 Drop logo invested 6 with $180,000- sold to a Philippine PWC watch club member $250,000 - net profit $70,000
5. 2017 Bought a VC 222 in HK from a collector with $160,000 - sold two year later to a HK Collector $180,000- net profit $20,000
6. 2015 bought a AP RO solid gold 5402 with two digit S/N number HK$100,000 - sold in 2017 to a Philippine Collector $250,000 - net profit $150,000
7. 2017 Bought a Rolex Daytona 16528 invested "6" with $150,000 sold to a Macao Collector $200,000 one month later.- net profit $50,000
8. 2009-2012 Sold numerous Rolex Day Day solid gold 1803 with estimated profit of $250,000


Current item plan to sell... he told me one of them
Bought a Patek which belongs to the Ex Philippine President with $200,000 and plan to sell in auction in Philippines and promise to donate 50% of the auction money to support the poor people via charity donation.  After the auction house commission and charity donation , target net profit $200,000.


He does not want me to disclose his names as he is afraid of tax issue in HK.
Money shown here is HKD.


Moral of the story is that if you can made some candy money out from your hobby is SWEET!


HK Snob

Recent Price drop may be due to the saturation of Japan Import gray dealers' Rolex

Story was told that certain large batch of import Rolex is not paying the right tax through the right channel, and Big dealers are not taking any import gray dealer's watches as they might have not traceable  source information. Would be afraid of paying tax.


So the number of Watches going back to the market of Hong Kong and other Asian countries, so the supply is more than a few months ago.


So that is why we see few percent like 2% to 4% price drop on dealer watch price... Rolex is the major affected brand.


This may be sustained for a while and I keep an eye on the model, so long if that is discontinued model or with sticker should be good to keep for a while.


HK Snob

Bangkok Watch Market

Rolex AD at Paragon Shopping Mall

Thailand Rolex AD has No Sport models nothing except Date Just and Day Date, Yacht master II 44mm in Two tone and Solid white gold only.  After I had visited Airport, Paragon and Centre World shopping malls these three days.

Patek Boutique has nothing Nautilus not Aquanaut except Ref 5524G and 5524R, AC, PC, Calatrava, Eclipse....etc 

Ref 5524G is Baht 1.5M, you can get back 7% Tax at airport. That is HK$348,750 after tax refund which is about HK$10,000 higher than I can buy in Hong Kong.

On 5/F of Centre World shopping mall, there are about 6 watch shops selling pre-owned Rolex and Patek.

I say a few Rolex, total less than 20 Rolex with all the 6 Shops and About 4 Pateks.

I say one 5711 used but n hold, and 5980 solid gold.

What I feel is there may have more Vintage Watch shops that I have not been found...

All I can see is that they don't have many Stock.

That is why quite a few dealers is buying from HK every week returning Bangkok to sell.

HK Snob

Watch Price update July 2019

Recent Rolex, Patek hot item price has been little bit lowered 2%-3% in June.
That may be an indication of what HK current situation on too many unsold stock from the dealer. As someone may still hold up a lot Batman Oyster, Batman Jubilee, Hulk, Daytona Ceramic White. Other cause of price adjustment may be due to incoming Summer vacation. a lot of people is going for foreign country for vacation and they delay the purchase of watches till August or September watching of the price will be lower or not. As for longer term say second half of the year 2019, I don't think price will be further drop again, may be after September, the price will g up again to the level of May 2019, until next year Feb that people will keep an eye on the new release of Rolex, and many speculation n the discontinuing of Hulk in 2020, new release of Explorer II Ceramic...If you think you like it try to wait at AD, or if you can't wait , go for gray dealer, as it may be wise not to go into this price competition buying at such a high price. Today Dealer price is roughly: Hulk 116610LV HK$125,000-130,00. Batman Oyster 116710BLNR HK$134,000-138,000
Submariner 116610LN HK$85000 to 88,000
Pepsi 126710BLRO HK$142,000 to $144,000
Daytona White 116500LN HK$192,000-195,000
HK Snob

Patrizzi Daytona Zenith 16520 Price

The black Daytona W series Ref 16520s' made between 1994 and 1995.

Rolex used an organic varnish called Zapon to protect the dial.

Unrecognized at that time, the lacquer did not provide sufficient coverage and, over the years, the silver dials have started to oxidize, turning a definite brown colour as they react with UV rays and heat.

Even more importantly for collector, the changes do not stabilize and continue to take effect the older the watch gets.

This is what we called Patrizzi dials. They are unique, in the world of classic Rolex, unique equals to expensive!

The above one is one example of W series (1995), yet going into very "Patrizzi"!

The changing of colour takes time, years and that degree of brownie dial will add value to the watch to a degree of TWO times?

So this is another fun collector item of Daytona Zenith 16520 Series "W" after you have the last series A or P...

Price range between HK$220,000 to HK$550,000 assuming full set and AA condition.  (Price of Today 25 June 2019)

HK Snob



2019 Best Investment Watches

Rolex Daytona Zenith Ref 16520 A series

Watch is one of the best items for keeping your money worth more over next 2-5 years?

Not every watch is like Paul Newman Rolexes, nor Nautilus 5711/1A blue dial that come up with crazy high price nowadays.

And Watch Appreciation path is long and it won’t jump up two times price in days… We can track their price over 2-6 years and we can predict their future value. Still, there is the advantage that they rarely drop in value.

Watch is not like your Testarossa that you really have to spend money to maintain it… You can even put it in your vault for years.

Watch is simply an accessory that follows trends. And while trends are cyclical, I cannot wait 20 years for my watch to come back into style. So may harvest time is 5 years only.

Go Vintage

Still interested putting money on watches as an investment? Here are a few way to think about it.

Vintage Patek, Rolex, Vacheron Constantin, and Audemars Piguet, Cartier and Breguet are some of the items that you may consider to buy, as they are beautiful, Iconic and historical.

Buy from end user direct

It is almost the best way to sell a high price through auction, and seldom you can make another double one year selling your auction watch last year.

The good side of internet is also the bad side itself, everyone can search the watch that is on line and prices are transparent… There is difficulty you can really buy an under-valued watch through internet…

You have to find it your way direct from the end user, sometimes they have good offers.

New Watch Recommendations

Go for new Nautilus and Rolex Sport models at SRP preferably or at premium as last resort.

Keep it untouched for a few years, it will not make you in disgrace, probably a grim on your mouth when you see what they worth 3 years later.

Rolexes

The Rolex Crown is a guarantee that your money back, plus some bonus. If you can get it at SRP, surely there is no other investment ever better…

These are some of the watches came into my mind

1. Submariner 116610LV Hulk, prompt to be discontinued by 2020, price will shoot up to $160,000. Today’s price is $130,000.
    
2. 2019 Discontinued GMT Master II Batman 116710BLNR is now $140,000
   I speculate that it will hit price $160,000 by end of the year.
    
3. Daytona White 116500LN current price is $198,000 and I speculate that price will be further up to $220,000 by end 2019.
4. New  2019 Batgirl 126710BLNR Black Blue in Jubilee bracelet is now $150,000. I think it will hit
   $159,000 in September.
    
5. GMT master II Pepsi in Jubilee bracelet 12671BLNR is now $149,000, due to the cherry blossom pinkish red colour echoed with the blue on the other size of on the bezel, I think it will hit $170,000 by end of the year.
    
   Neu-Vintage  
   I like those series such as Daytona 16520, Polar 16570, Submariner 1680 as there is less argument on the dial, bezel hand matching issues and that is not too expensive, still not too difficult to buy. But I see great potential for appreciation.
   As a matter of fact they are made for use and we can use them as much as you can rather than those watches made in the early 70s’ or the 60’s.
    

1. Daytona Zenith 16520 Black A series now is $220,000 and by end of the year it would be like $240,000 -$260,000
    
2. Daytona Zenith 16520 W series  that is claimed to be “Patrizzi dial” as Rolex applied a new layer of argon protective material coating on the dial, after  few years the colour of the dial changed brownish yellow… that makes the watch price go high.

           Current Price of W series Daytona is HK$240,000 and I speculate that it will hit $360,000 by 2020.

1. Explorer II Polar 16570 White T-25 dial, this is a rising star in the past few months, don’t know reason why but seeing price up and up… It was about $45,000 in March and now price up a lot to $55,000 or more for the same watch such as a T series…
   So I think we should not miss this Explorer II White Polar.
    
2. Sea Dweller 16600, so call the perfect diving watch, it is made in volume much lesser than Submariner 16610LN, and it is distinguished by having a thicker body and no cyclops lens.
   I have sold three pieces in this year from $62,000, then $68,000 and $72,000 . Still it is best buy if comparing money you spent and thing you get.
    
   See Note *1 below

Patek PhilippePatek Philippe as a brand often called the most prestigious in the world.

They produce 1/22 of what Rolex makes a year in number of high-end pieces. So you’re looking at a bit more of an investment than Rolex and a slightly smaller market, but bigger margins if you secure a cool model. 

These are King Solomon’s treasure if you get it.

1. Nautilus 5711/1A  $700,000 ($229,200)
2. Nautilus 5712/1A  $720,000 ($307,300)
3. Nautilus 5990/1A   $940,000  ($414,200
4. Aquanaut 5968A $660,000 ($339,500)

 Price in bracelet is SRP priceConclusionThese watches aren’t that they’re guaranteed to make you money. Definitely they are better than the fixed deposit on Bank. If that new watches bought for investment, don’t wear it, keep it as it was bought with all the official invoice, accessories and bag.

We prefer full set for any used ones, keep all material, literature, box as it was bought.

They are quite small, store them separately with Rolex Crystal Box*2 in vault with the warrant card. And this will give you one some of the return after a few years, even a few months!

Please don’t run to me if your watch investment plan does not come into reality as I am not Nostradamus. 

Enjoy your investment… keep money rolling and buy yourself an ultimate Super Watch!HK SnobNote 1

All Watches mentioned here is about Full set, with excellent Condition, no dents, no polishing done.

Used watches are used watch that comes with signs of usage that is OK but no broken parts nor dentsNote 2Rolex storage box I call it Crystal box is the best storage device for your Rolex or your Patek
There are two size,  that is available from me Small one and large one.
If space is allowed always go for larger one let it  rest there in more comfortably manner!
If you need them Whatsapp me… I have a few hundred pieces. Still.
AD= Authorized dealer
SRP= Suggested retail price

Most update Price on Rolex in Hong Kong

Daytona Ceramic 116500LN White $210,000 (going up)
Dayton Ceramic 116500LN Black $185,000 (stable)
Daytona Green Yellow gold 116508 $385,000 (rising star)
Submariner Hulk 116610LV $129,000
Submariner Black date 116610LN $92000
GMT Master Batman 116710BLNR $131,000 (Discon.)
GMT Master Batgirl 126710BLNR Jubilee Bracelet $152,000
Explorer II 216570 White $72,000
GMT Master II Gold 116718LN $245,000
Sub no date 114610 $73,000
GMT Master II Green pointer 116710LN $92,000 (discon.)
DeepSea 126660 $119,000
SkyDweller 326935 pink gold Grey $326,000
Sky Dweller 326934 steel black


Patek
5711 /1A blue $660,000
5712/1A blue $680,000
5726/1A Black $535.000
5168A $680,000


This is the price of the week, what I can see is that the price has been slightly soften a little bit
But I think it will be going high as long terms.


Rolex is Gold, Gold is not Rolex


HK Snob

How do you start your watch Collection?

We are a small group of watch experts, all of whom were once in the position you currently find yourself in, and who would be delighted to help you avoid the mistakes they made when they started buying watches. We want to help you build a collection that you are proud of and that brings you endless happiness. Before getting started, here’s what you should know.
1. Take Your Time
“Collecting is more than just buying objects.” The process of collection is the main source of joy. “Anything I do, I spend a lot of time. I do it with passion and intensity. I want to be in charge.” This really is all you need to know before you start your own watch collection. In HK colloquial saying, “Buy expensive good is better rather a cheap bad!”
2. Think About Why You’re Starting a Collection
Do watches create electrified-joy in you? Are you seeking merely to diversify your assets? If the former, you’re ready to go. If the latter, think a bit more on it. Watches should above all make you happy. Learning about them, hunting them down, possessing them, wearing them, showing them to colleagues, sharing with friends, and even eventually selling them are all steps in the process of forming a collection. If you enjoy every part of the process, you’ll never regret starting a collection. Always remember a watch has to be a watch on the wrist not in the vault… buy what you love to wear. Than the cost will be justified. Don’t just buy a Patek and hide it in the safe deposit box to let it rust while you are wearing a Cheapo e-watch and talks about Patek!
3. Buy What You Enjoy
Buy what you love – are keys to building a collection you will enjoy for years to come. There’s no better feeling than looking at your wrist and seeing a watch that speaks to you. Over the years, your taste and style will change dramatically, and so will the watches that are in your collection. Let that evolution happen and enjoy it!Don’t follow your friends’ wish list and copy that as yours, because he may love only certain brand and model, will that speak to you? Build you one wish list of watches.
4. Study and do research
Do your homework. Learn everything there is to know about the watch you are after. There's a lot of information out there in internet, but not all of it is good. Ask questions and develop a relationship with a specialist – we are all standing by to assist, and we often have more information than we’re able to fit on our site. Do not hesitate to ask questions via Whatsapp... The better we know you, the better we can advise you too!5. Buy the watch, not the price
Many people buy a watch with only considering on pricing, remember a same model of watch say Rolex Submariner 5513 can be ranging from US$10,000, to 30,000! Why?

The Quality speak for itself, if you look at the price for US$10,000 after two years your watch would stay US$10,000 but the other one has been appreciated to UD$40,000 because the later one is of good quality whereby people is willing to pay more for…6. Focus On QualityWe can’t stress this enough. The quality of the watch should always be the paramount driving force and pieces of outstanding condition can always be used as a stepping stone to later refine. For vintage or pre-owned watches, condition and condition, the originality are essential – how well the watch was taken care of and the presence of all original parts and documents greatly affect its value!
7. Don’t Buy Into Hype
It happens. Every couple of years, there seems to be a new “Must have”. If that particular watch doesn’t speak to you, simply let it go. There are so many watchmakers, styles, and eras represented in the market, chances are we’ve got a watch that others will say is so you!  Remember, buy the watch you love! 8. Have Fun  
Remember, a collection Isn’t defined by a Number
At what point does a collection become a collection: 5 watches? 20 watches? 1,000 watches? We like to think it starts much earlier, with the very first watch. Every collector remembers their first significant purchase, and often times it’s the only watch they have decided they will never sell. You can learn a lot about watches by studying them, but you’ll know infinitely more through ownership. Last, have fun on your watches…make your every watch carry a story behind!
HK Snob

Rolex Price 1H of 2019

What Rolex Should I start with!?

Many of a friend asked me what should I start for a Rolex?

Well, I had been questioned this from Colleagues, and friends, and I say, all depends what is your purpose of buying a Rolex?

Most of the replies are buying a watch that he can use and at same time can keep the value for long period of time…say 10-15 years.

Whilst price of Rolex is getting crazy.. what is a beginner should start with!?

Well, when the World economy is not that bad, HSI is 30,000 points whereas the real estate price is highest in the world since 2000,  $10m cannot buy a 1,000 square foot flat in the town… what is the difference in a price up of $20000 for a Batman? Nothing to them.

Well, people laughed at me on my facebook when I said price of Batman would hit HK$90000 in May 2018,  I can ask this gentleman to look at the price of a Batman now, well, someone is asking $135,000!

And actual transaction os about $128000… Some dealer carries over 50 Batmans in his vault….

They aren’t stupid as they also bought them at a premium…no one is able to get a SRP price for Batman…. Except those Super Big Spender who used to buy jewelry or gold 0.5m a month like we buy a piece of Pizza!

Another day, there is someone saying that who will buy a stainless steel Daytona ceramic with $190,000?

He would buy a white gold Daytona which is probably $40,000 on top of it… He does not understand that people keep buying a Hermes bag when price is increased, that is to tell them can afford… and they like to use luxury predict with price keeping up.

If one day Rolex sales giving you a less 20% discount to clear all the sport watch,,, then that is the day you can buy Rolex in SRP… But will that be possible!?

Rolex is good in manipulating the balance of Supply and demand… though Rolex is really expanding their production capacity to fulfill those angry customers on the long waiting list…

So what is your expected price for a Batman up to? I think it is still possible $140,000.

When the new Batman with Jubilee is in the market , the price is $150,000

Another question on price of Daytona Ceramic 116500LN

I think Black will go up to $175,000 and White $195,000 by June 2019.

HK Snob

Rmk Price listed here is Hong Kong Dollars HKD