Watch price in Oct and what is next?

The watch price in Oct and what is Next?

During this “situation” in Hong Kong whereas a place for 40% of Swiss watches importer, price has dropped a lot since June 2019.
In average, Rolex new watch drop for 10-12%.
Those hot items already selling at premium such as Submariner 116610LN, Daytona. 11650LN, Pepsi 126810BLRO, Batgirl 126710BLNR, Seadweller 126600.
Patek
Patek is 10-18% drops for those hot model Nautilus 5712, 5711, 5980, 5990.

VR
What is the vintage Rolex segment, less affected, it might drop 2-3% in general
those are different as they are getting less and less everyday so the price will Getting up
Higher everyday, though at a slower pace.

What should we do?
- rich people gets the best out of it as they can have more choice to buy with less money.
- average collector should keep monitoring state to see what is best in market with little fund on hands.

Rolex new watch at AD.
They are unaffected as still they don’t have stock for you!
No matter you line up on the waiting list of a Submariner or Seadweller, they always say no stock
Well CTF is selling at SRP to their VIPS
ORIENTAL AND UNIQUE is selling at premium.
Dickson is also selling at premium.

Don’t call me asking when where you can buy at SRP as I really don’t know!

If I know I would hesitate to buy it myself, right?

Again Rolex is Gold, Gold is not Rolex.

HK Snob

Abbreviation
AD - authorised dealer
SRP- supplier suggested price
CTF- Chow Tai Fok
VR- Vintage Rolex

Rolex Date Just Ref 16238 Lapis Azuli

Ref. 16238 caseback stamped 16200A fine and very rare yellow gold wristwatch with sweep center seconds, date and lapis lazuli dial.

This watch has just been having movement overhauled by Rolex Service Centre this month, meaning also Eolez
Had verified this is originally with Lapis Azuli
Dial on this special watch.

These are the gem Rolex was used to put on some of their special watches: Lapis Azuli, Onyx, bloodstone, coral, meteorite, sodalite, etc.

Now almost no watch is still using these kinds of stone on Rolex watches except meteorite is still
Being used on Rolex GMT Master II white gold 116719BLRO and Day Date 118139, with a price tag over HK$300,000.00

This included watch of E series year 1990.

Watch with 21 links, Rolex service paper, red tag, manual literature.

HK$165,000

HK Snob 

GMT Master II Ref 16710BLRO Pepsi

Rolex GMT Master II Ref 16710BLRO Pepsi
Year 2000, P series
Many so call Pepsi may not be real
Pepsi unless Rolex certifies it is, this is a Hong Kong. Watch year 2000
With indication on the green tag is Pepsi 16810BLRO

Including:
-Watch
-box
-Red tag
-green tag with S/N and model on with BLRO means Pepsi
-Warranty Papers
- warranty paper holder
- manual and literature
- 11 links

***********************
Feature:
Rarity 7/10
Condition 9/10
Wearability 9/10
Collectibility 8/10
Function 9/10
Investment point 9/10
Worth to buy 9/10
Remarks:

Asking HK$102,000
Delivery to: 🇭🇰 🇸🇬 🇹🇭 🇵🇭 🇲🇴
HK Snob

Tudor 7928 Submariner Dial wanted

Wanted 
Tudor Submariner 7928 Dial and hands set wanted 
HK Snob

From rags to riches

From rags to riches

I have a friend who was having a story that might change your mindset to someone who has no degree, no rich Family support, who still could become a successful business man.

He was started a job that you might not take, he was doing shoes shinning job in a hotel for guests.

Well, somehow if you are highly educated, you might put more focus in your job. He did good and shoes were all made shinny polished. He was spotted by one of the lady manager who would like to refer him working in the coffee shop. Well that seemed easy for there was someone’s referral...
No! as there was three Americans interviewed him. His twisted tongue English betrayed him. The interview was not successful, after one year the lady tried again to arrange another interview
, still failed. He learnt couple of years on Japanese during his time after duty... one day the Japanese manager and An American manager had the third interviews with him. He was considers probation as bell boy in the hotel.
He was the bell boy of the hotel, he worked hard, he served the guests with enthusiasm. After two years he was promoted to coffee shop assistance and promoted again as F & B Manager after few years ... during the time he was a bell boy he witness many people drove their Ferrari and or Porsche, and wearing Rolex watches.

He was thinking, when can he wear a Rolex and drive a Ferrari? Working in a hotel for ten years not even have enough saving for a decent Rolex watch...

At that time eBay was popular and he tried way to sell some of the shirts that some of his father’s tailor shop.

Wow, he found that some of the shirt could be sold and gradually he started to make shirt to sell again through the eBay,. It worked, he then quit the job at the hotel he had worked more than 15 years...

He worked hard, he was early pionoeer in eBay sales to overseas, that made his first bucket of gold.... then after ten more years he has his own first factory, second factory....
with what he learnt from the hotel on how to
handle people tactfully and carefully with heart sale, not hard selling!

He gained a lot of business trust from his business partner.

He married with a foreigner and had two beautiful daughters studying in international school.

He bought his new home worth US$5M. He drive a Model X Tesla and a Ferrari California.

Moral of the story is
Doesn’t not matter you have a degree or not!
All you need is belief in hard working, passion in work and don’t stop learning, still you could make your day great 👍

I know him as he approached me on my Hong Kong watch Fever blog buying the first  Sea Dweller 126600 single red , a year later Daytona ceramic 116500N black, why black? Simple he does not like white, too sisterly hehehehe

He told me a Rolex watch is needed to meet his customers . He loved his Daytona!

HK Snob

Vacheron Constantin Overseas 49140/423J

Yes, I am a big Fan of Vacheron Constantin, as I like the Maltese Cross, I like their tradition and only one thing I don't like is the price is too high.

This is one of the new found treasure Overseas in yellow gold, Ref 49140/423J super heavy that my electronics weigh is overloaded, (max. 200gf) I estimate that this watch is as heavy as 235 grams with full links on.

This is a big date, chronograph. this is 40mm but looks much bigger than 40mm,  the bracelet is very comfortable, super elegant seeing the Maltese Cross bezel.

I feel like I am wearing a new shoes during the new term open at primary school.

HK Snob

Rolex GMT Master II Pepei Ref 16710 on sale

This is pre-owned GMT Master II Pepsi Ref 16710

It comes with Real Full set with faded Bezel insert.

This is a P series (yr 2000)

1. Watch

2. Paper

3. Red Tag

4. Green Tag printed with S/N

5. GMT Master Booklet yr 2000

6. Paper Holder

8. Distributor Booklet

9. Box

HK Snob

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