Window Shopper of watch in Hong Kong

 Window shopping behavior of HKers.

Window shopping involves visiting a brick-and-mortar store to examine a product but is also done online in recent times due to the convenient availability of the internet and e-commerce. A person who enjoys window shopping is known as a window shopper.

In Hong Kong, 70% of the people enquiring in your watch are likely window shoppers.

On fb, he can talk about price of you offer in the morning, next day he will say his wife does not allow him to go for it.

On Carousell, he can ask more pictures of your watch, usually he will say “ Think about it”.

Someone will say he want to see it himself, and we meet somewhere like a restaurant, after checking the watch he would say; “ Oh , I think that is not the condition he is looking for”

These are window shoppers. They have intention to see your watch but not to buy,

So what is important is to find out the one you are talking to is not window shopper, but how?

HK Snob

 

Long term partnership

For almost every business including watches. The need to establish strong, mutually beneficial relationships with strategically-chosen partners is essential. And the longer that relationship lasts, the better for all parties. The advantages include improved performance, making long term profit, greater cost efficiency and helping businesses to develop. The most important factor is Trust built up between partners, if there is no trust, the business would not last.

There have cases that seller is selling a Rolex Daytona at a price of $100,000 to company A consisting of two business partners, One immediate marks up 5% for his own profit then pass it to his group partner for another mark up of 10%, so the final offer to end customer $115,500.

Whereas another company B has two partners also, one received the same offer and they discuss to mark up of 12%. So they offer to an overseas buyer selling at $112,000.  Customer received the same watch quote and naturally order goes to Company B. The company B will be building up capital much faster than A as they have a healthy operation and Good trust between two of the partners.

I have seen quite a few cases that dealer choose the best profit item such as Daytona Green 116508 for sell by himself and give those jelly beans such as Milgauss 116400GV or lady Date Just to his supporting partner to sell.  This is human nature and I cannot say wrong or right. But being your sub dealer would not prioritize selling effort on your product as they know profit is low, hard to sell and likely commission is small aslo. So he also puts his effort on to some other higher profit item for other dealers. Naturally this will not able to move your slow-moving watches…

I have seen a good partnership between two good friends, one is a big collector who has over 400 vintage Rolex and one is Hong Kong dealer. The watch Collector would allow his inclusive partner to sell half of his collection after probably one year or two, he will not question his selling price too much as he is supposed the best in this watch selling business, and what a mutual agreement is that he can get say 4% of the sales revenue as his commission… so this is a partnership program. Though it seems that the commission is trivial, but don’t forget the volume is huge. Assuming one Rolex is $200,000, 200 pieces is about $1.6M of commission, I believe this would have incentive driving more sales. By constantly re-assessing the relationship you have with your partner, you will ensure that any potential problems are dealt with quickly and efficiently. This will lead to a far more fruitful and enduring relationship for a long term.

Commission

I have dealt with buyer who give me 1% commission to looking for his desirable watches in the market. Looks very stingy, yes it is… however, if I can handle within a few hours or a day is OK as his watch value is High. Usually he buys A Lange, Richard Mille, Breguet tourbillon.

Also I have dealt with another seller who offer me 6% of commission on his watch. Whatever it is manageable I will handle, as I think commission is not major concern, more important is by doing so I can broaden the network of my contact. The Buyer’s recommendation to his friend and colleague would be another merit to me. Networking is the key.

HK Snob

Rolex Sophia Loren GMT Master II's five Firsts

The Fat lady carries Rolex’s five firsts on GMT Master

“Fat lady” or sometime called “Sophia Loren” stands for GMT Master Ref 16760 may be due to the profile of the watch resembles the Italian beauty.

It was a milestone piece for Rolex to create the GMT Master II version. It comes with a Black Red bezel only. That is why called “Coke”.

They have five firsts

1.  It comes with Black Red bezel as for the first time.

2.  Thicker case by 1 mm, a wider bezel and a larger crown guards than its predecessors 16750.

3.  First to use 18KT wife gold surrounding the luminous hour marker to preserve shininess and keep it beautiful for many years.

4. The first to use sapphire crystal on the dial.

5. New Rolex Caliber 3085 in use. The new generation movement allowed the center hour hand to be set independently from the arrow-tipped 24-hour hand from the minute and second hand. Therefore, when travelers arrived to a new destination they could easily set the watch to the local hours.

Fat lady was introduced first time in 1983 and last batch rolled out from Factory in year end of 1988. Only 5 years were in production.

Due to the short production time, Number of units made were small, and it was made with Tritium dial, some of the dial tends to change Tropical and that value will grow. And since this watch is made with Sapphire which is hard and scratch resistant. This is both a functional and collectible item for Rolex Collector.

Attached one is a 1988 last batch R series. Dial had been changed to slightly brown and looks great as a neo-vintage Rolex. 

Reference of GMT Master

Year 1956-1959 Ref 6542 (Blue Red) Cal. 1030

Year 1959-1980 Ref 1675 (Blue Red) Cal. 1570

Year 1981-1988 Ref 16750 (Blue Red) Cal. 3075

Year 1983-1988 Ref 16750 Fat Lady (Black Red) overlapping with 16750 Cal. 3075

Year 1988-1999 Ref 16700 (Blue Red) Transition period Cal. 3175

Year 1989-2005 Ref 16710 (Blue Red, Black Red) Cal 3186

Year 2005-2014 Ref 116718 gold Black bezel Cal. 3186

Year 2008-2019 Ref 116710LN (black bezel with green GMT pointer)  Cal. 3186

Year 2013-2019 Ref 116710LNR (Blue Black) on Oyster bracelet Naked name “Batman Cal. 3186

Year 2013-2019 Ref 116719 Blue Red in White gold Cal 3186

Year 2018 update present Ref 126710BLRO (Blue Red) Cal. 3285

Year 2019- update to now 126710BLNR (Blue Black on Jubilee bracelet) Cal. 3285

HK Snob

 

 

Points you may know for selling your watch

Selling your watches for maximum profit is definitely every seller’s intention. However it does require some strategy and plan to. A proper way will yield results includes you doing everything you can to present the watch enticingly to a group of potential buying audience.

Most people will fumble around via trial & error attempting to figure out what’s maximum price working for them. So what ends up happening? They spend a large amount of time trying to create a sales nut this is only fishing, it waste time. Should be preferred to stick to an anchor point or set of rules that have been tried and true.

These strategies are used by majority of the watch sellers worldwide. Here’s some tips to help you start selling your watches better.

Exposure

It seems obvious that in order to better your chances of getting your watch purchased, you would maximize the amount of exposure to the largest audience of buyers possible. The sad truth is, this strategy is very critical to selling success, yet very few people actually execute on this. Think about how many places you can show off your watch for sale. The effort is high to put your watches everywhere, That may not be the best too.

As you can see there is no shortage of options, and this is just a short list of many other creative ways you can get your watch noticed and let potential buyers know it’s for sale.

Take lifestyle pictures of your watch and post it on your Facebook personal page, Facebook business page, your Instagram, watch enthusiast group, Carousell, Chrono24 or eBay.

For whatever reason, whether it’s because we’re lazy, or because we just didn’t think of how to do it, people slack on giving their watch exposure which limits the amount of buyer activity on the watch. Humans have short attention spans. Shit, I can’t even remember what i had for lunch yesterday, so how can you expect a potential buyer to think about your watch if you aren’t putting it in front of their face frequently? However this still works for certain general watches.

The more efficient and creative you can get about exposing your watch to POTENTIAL buyers, the easier it will be for you to sell it. 

How you list your watches

Exposure to your watch listing is very important. What’s equally important is how you list your watch. Too often, the approach here is haphazard, and watch traders end up sabotaging themselves. A classic example I see is folks will just have their watch newly-in, and post it immediately to a trader/wholesale/Whatsapp trader group for sale. The mistake here is you end up listing for a price that is may be too high for those audiences and your watch still hasn’t sold, you lower your price to these groups and everyone thinks you’re desperately trying to sell it because you couldn’t. 

We usually start at Brand X watch enthusiast groups and watch forums at a set margin. You think enthusiast group may pay you more as they are enthusiast on your watch say Brand X.

Sometimes it may do no good as they are enthusiasts, or an expert that know the watch inside out. They are fully aware the value or the price of it.   You keep your mass market listings up at the same retail price though, because we never know when you’ll have a buyer come along who is in love with your watch. By staggering the listing price and where you post the watch, you buy yourself time and help capture maximum profit. Finally, if in another 5-10 days after posting to the enthusiast groups and forums and the watch still hasn’t sold, THEN you have to move the listing to the wholesale/watch conspiracy groups to liquidate your watch at-cost or a small profit.

By listing your watch on the mass market platforms where dealers are commonly whatsapp groups, Facebook Marketplace and Carousell. You’ll get exposure to your listing at lowest market retail price, it is uncommon to see cases is the net profit of $150-250 for a BNIB Rolex. This is your biggest margin opportunity and where people will not pay you more because they know about watches.

And media is getting transparent and they are about to do research on prices at Chrono24, watchbox, eBay and sort out what is the best buying price for his watch and comparing with your selling prices.  However, this is so far the fastest means to sell your watch if you don’t mind reducing the profit.

High price must come with reason

If you sell, must come with enough explanation on why the price is like that. We know a Rolex Watch of the same type, same year that may have a price difference of 2 time, because of the quality, you have to list down how your watch is and why it comes up with this price with supporting reason.

You are looking for certain high class buyer, forget those people who just sort out the LOWEST price on particular model on line, they may always buy a Bad watch.

Trust on seller

The #1 reason buyers make fast decisions to purchase a watch is that they trust the seller they are buying from. This is why repeat customers are fantastic for you to keep track of and sell to in the future. You’ll understand why this approach is critical to moving watches fast for serious profit.

Trust is the reason buyers will move forward with at $30,000 watch purchase from you even if you’ve taken a few crappy photos of the watch itself. If the buyer has the layer of trust that “this person would never do me wrong, and if something went wrong they would make it right”, then they remove all of their own insecurity, psychological barrier and buying hesitations. Also there is minimum price negotiations.

Through Auction

Auction is good for certain expensive watches that may catch the world wide notice, and there may have more potential collector, individual invincible investors, tycoon wants to spend money on something he may not know. There are a lot of works to do, you have to pay for the picture and catalogues, and you have to leave the watch there shown at preview. Let some idiots to fool around your watch, drop it on the desk, well, you don’t feel the pain as you are not there probably, and after the hammer price seller had to pay 15% to the auction and buyer 25%. That is a lot on top of what you get. And it takes a longer time to get your money. And if not sold, they return you the watch, after that you had to check carefully on your watch again. Unless rare and special expensive watch, this is not the best way to sell. 

Through middle man

A middle man usually has a strong connection with Buyers and he finds you the best buyer.

This save your time and keep you safe on the transaction, Money guaranteed. Yes, you have to pay him certain percentage of commission on the sales. He tends to sell as much a she can for higher commission.

Since they know the buyer.. usually transaction would  take a few minutes , no hassle, not authentication needed on the watch at stupid Rolex Service centre at all. 

Build new potential buyer

A few ways to establish trust with new potential buyers is by offering them references, connecting with them via the phone, and on social media. Do keep some of the best comment on you at certain website. From some of the famous dealer and celebrity who had wonderful experience buying experience with you. 

Enticing Photos

People purchase emotionally impulse first and justify those purchases rationally after, so use emotion to your advantage with your photos! When people see crisp, clean, high-resolution photos of watches, they feel comfortable buying. They feel like the seller isn’t hiding anything from them in the pictures. My favorite method of taking photos doesn’t require you purchasing expensive camera equipment. It just involves taking photos with a smartphone in outside natural lighting, preferably not in direct sunlight. Optimal conditions are on an overcast day or just in a light shade area when the sun is out. For product photos, shots from all different angles and focus on certain details, such as hallmarks, lug corners, bevel sharpness, dial surface stains, bracelet reference number, and printing of the dial and what’s included with the watch are key.

For lifestyle photos, get creative! You can elicit such strong emotions from potential buyers when you take amazing photos. For example, a Blue dial Rolex Submariner  in gold in the foreground with a matching blue Lamborghini in the background gets people excited about the watch, shows off how amazing the watch is, and elicits desire in them to buy. You may able to sell the Lamborghini after the Submariner.

Accessibility

Making yourself accessible to those who are asking you questions about your watch and want to buy from you is vital. I can’t tell you how many times I’ve seen sellers sabotage themselves by making these mistakes. When a buyer reaches out with a question and the seller responds hours or even days later. That’s a lost sale right there, and reflective of the type of customer service the buyer may expect if they move forward with that seller.  Another mistake is people who don’t make themselves accessible on social media, or via phone, Whatsapp had been turn off half day to one… Buyer will be thinking are you serious in selling.  If you’re about to wire someone $5,000 + wouldn’t you want to know who the hell you’re doing business with? I know I would. Don’t be the idiot who has a picture of their cats, a Rolex watch dial or a blank JPG as their profile picture on social media, or half face cover his hair or the dump hat, HAHA, You’re an adult, and you are a brand in this day of social information. Start representing yourself correctly.

If you want to close deals for more profit, be accessible. Encourage buyers to connect with you online, and/or call you if they have questions about your watch. This gives them that layer of comfort knowing you’re not a scammer or not going to go anywhere if shit hits the fan. Make a date to show your watch tentatively, yes, there are a lot of people who has no money but want to spend time this way meeting you for the coffee, but so far the percentage of this is still low, no one would like to come out to just to drink your coffee. Well, if he will coming out at least the chance to close the deal is 50%.

Security

Case #1

There is a story happened in 2020, a friend K of mine was about to sell his expensive Daytona, he made appointment with one potential buyer, he did not know him, well my friend K went into the window  seat of Chui Wah Eatery at Carnavon Road No.1. He sat inside of the seat… the his potential buyer came and sit beside him (Mistake 1,  we used not seat this way, must be face to face… as your buyer may block you moving out of the seat). And he started chitchatting about watch, bullshitting stuff, buyer called his another friend to come, this is common, but (mistake 2, they have not talked about this before), Mr.  K carried on talking and started showing him the Daytona, (mistake 3, If I were Mr. K I would cancel the deal).

Next happening is the guy opposite Mr. K took the watch and run! The Guy sit beside Mr. K blocked him to move… haha, exciting right like a movie theme…but it happened.

This is one example…

Case #2

Buying a Milgauss, seller is showing a Milgauss to his buyer who came with her attractive girl friend.. This happened, and whilst seller is watch the girl especially on the prominent boos, buyer said the watch is not he want and returned seller,… OK seller packed and went home still thinking about the beautiful lady. Later he found that watch is a genuine fake.  The eyes had enjoyed a lot but you had to pay with watch!

Case #3

I went to sell three Rolexes to one gentleman who is the son in law of Mr. T in Thailand… we were in Peninsular hotel and he brought his wife there, we had ordered some drinks and his wife showed me her Bloodstone Day Date 18038… I was drooling…. Well I sold him three Rolex. One is Rolex DD 1803 with buckle Bracelet. One is Purple dial Buckley Date Just in 18 KT gold… and one is Date Just blue dial in steel with paper. He told me he will send me money after the deal, I left him the watch and we left…. 

Summary

Keep these core fundamentals in mind when building out your own selling strategy.

If you do, I am confident you’ll find that you will start selling watches faster and for greater profit.

There is no standard ways to expand your sale, starting it with your way you think is best and easy to start first.

Mistakes and Experience will guide you where you should go next.

HK Snob

Remarks

Picture show three men robbed a Daytona during the watch trade at MTR

Complaint to Watch Manufactures on their trade practice

 I had sent two mails on for Rolex and one for Patek in a unhappy feeling about what we 

being a collector that I can't get the watch in weeks, nor years or even forever in the normal channel.

Whereby those grey dealer could get as many as they can at some special channel. 

Well, this is free market, I am fully aware but I am just asking them what is the proper channel to buy our watch we need to buy as a watch aficionado.

Lets see what is the response from them.

Or if you have any suggestion to get the watch we want at SRP, let me know.

You can send me private message
to my Whatsapp no. if you want.

HK Snob

Omega Premiere on 2021 novelty watches

It was my great pleasure and honour to be invited into the first session on 2021 Omega novelty started on 19 June in Central.

We have been introduced on the manufacturing process of  Omega alloy on their watch, process of manufacturing ceramic cases and the use of their own formula on precious metals to prevent tarnishing over time.

These are Omega gold alloy

Yellow gold with Au 75%, Cu 20% and Ag 5%

SEDNA Yellow gold  Au 75%, Cu 20% and Pd 1%

3N Rose gold with Au 75%, Cu 12.5% and Ag 12.5%

CANOPUS white gold with Au 75%, PD 21%, RH 2% and PT 1%

Besides, Omega is using liquids metal creating the "Naiad-Lock case back" to ensure that all engravings on the rear of the watch stay oriented correctly. the word "naiad" comes from the Greek and refers to mythological water spirits.

We were introduced with 2021 De Ville and and Seamaster watches.

The second picture are the only two pieces in Omega Hong Kong. They are Seamaster in Lapis Lazuli and malachite. 

Personally I like the Malachite more and I believe no one is using with these material as dial on their diving watch in the past 20 years other than Omega. Rolex had been using Onyx and Lapis to make a number of Submariners 16618 back in 1994-2001, I had one with Lapis and one with Onyx before.

They are fetching a very high price in auction by now with Lapis close to $1M and Onyx $700,000.

Omega had once using these material on their Seasmaster in 2018. and only few pieces were made. This material would enlighten the beauty if a gold Seamaster and that would be a future sought after and auction hot item. I was told only two pieces were available in this premiere in Hong Kong. I was lucky enough to see it.

In my opinion Yellow gold goes with Green perfectly. 

Such as those most successful introduction of Rolex Daytona ref 116508 green dial and SPR is $286,000 but now they are asking in open market of $650,000!

Latest Tudor BB58 Ref 79018V Yellow gold with green bezel and green dial. SPR $126,000 and market starts to pick up now.

Well, another one worth my consideration is a vintage look with 9K gold alloyed with bronze Seamaster 300 with sandwich dial with a awesome patina look. The SPR is $92,100.

Remarks, I could not resist the temptation, I had to take home this two beauties.

HK Snob

Unit shown here HKD$

Shall we go for New or neo-Vintage Rolex under such market changes of 2021

We have seen that there is a big change in Rolex market price in these few years.

I briefly categories them into new watches, neo-vintage and vintage watch here.

New watches are those made between 2010-2021

Neo-vintage are this made 1989-2010

Vintage watches are those made between 1988 or before.  (T <25 lume dial)

Vintage Rolex was enjoying a good days in price appreciation mainly in these years 2014-2019, as we can see price of GMT master 1675 and or Sea Dweller, 1665  was rising up 50% in these 5 year’s time and become flat after 2019 and even experienced price drop slightly in end of 2020 till now.

Rolex did announced in a form of internal memo they would stop offering free authentication service for vintage watches on 6 Dec 2020.

With this announcement, many new vintage collectors would hesitate in buying vintage Rolex as there is no way to tell his watch is made with correct period of the parts with the watch such as dial, hands, bezel and bracelet.

This will immediately created an impact to the dealer, shops as buyers are scary of the completeness of the vintage watch, so business of vintage watches dropped significantly. And those buyers or collectors would like to consider buying newer Rolex, so the new watches market would expand a lot.

Some of the private collectors would like to sell out some of his collection and switches buying new watches.

What is the best model vintage Rolex collectors would consider to buy as new watches, Daytona… so Daytona price kept going up. 

A Rolex Yellow gold Daytona 16618 was $150,000 in May 2020, and the same watch is now $230,000  (up 53%)

A White gold Daytona 116519 with black dial was $223,000 in 2019 and this is now $320,000!

You can see Daytona 116500LN white was $190,000 as an average in 2020, and was going to peak highest $320,000 on April 2021 as many of us speculated that it would be discontinued after April 2021.

After Watches and Wonders had no news of discontinuing on Daytona 1165100LN white on 7 April 2021, the price get softened and dropped from $300,000 down to $270,000 in one week, thence stabilized at the range of $260000-268,000 in these two months till now.

There used to have small number of dishonest dealer, shops and or individual fb sellers are killing the market by introduction of some of the frankenWatch to sell. So they kill the markets as no one is able to tell them officically thse are good stuff or Frankenwatches… there are still some individual expert or private company would guarantee the authentication of Rolex watches. However, no one would be more authorized as Rolex could do in the market.

More people is amazed by the new Rolex watches in these two years, and their price are keep going up. Mainly because they are more wearable comparing with Vintage Rolex.

What do you do with your cash for watches? likely buying newer watches of neo-vintage Rolex (1999-2010).

If you want to buy for daily uses as a me-too Rolex, go for new one.

If you want to buy certain watches as for investment or for your collection, get those neo-vintage, they are less complicated to choose and more repairable and wearable than those vintage Rolex. And they are more commonly been recognized as authenticated as more documented sources is available for your to learn and study about them.

So how about your treasure of Daytona 6263, Double RED 1665 Singapore Red 1680? Well, keep them and wait for next cycle to come… no one knows when may be two years or four or 8 years.

HK Snob

Units here is HKD (Hong Kong Dollars)

Looking for hidden gem

I remembered I had a month anchorage at Salalah at the gulf of Oman by 1981…when I was on board the merchant vessel “White Sea”.

Salalah is the second largest city of Oman after Dhofar, also the biggest sea port in the Arab Peninsula.

It is the birthplace of the current Omani leader, Sultan Qaboos, and is located in the Dhofar Governorate in southern Oman. From the north, the city is surrounded by a mountain range that turns green with spectacular waterfalls during the Khareef season. From the south, it has a long beautiful coast that is embellished with white sands. It is a beautiful place, but by the summer of 1981, we were awaiting for moor one month before we can moor for cargo unloading.

I had a great chance to fish, as there was much we can do in the Arab port, no one is allowed to drink as beer, whisky store was bonded by Arabian customs officers once the shipped had arrived the port. Salalah shipping agent told me that Arabians do not eat those beautiful fishes as they called them fairy because of the colourful outlook. Those are green wrasse (Choerodon schoenleinii) and they are huge easily weighed 3 to 5 kgs each.
We use crab meat as bait on a string as we did not have fishing line, just put in we could catch big green wrasse, and we could possible caught 50 big fishes in just a day… This kind of fish is expensive in Hon Kong. The meat is so tender and we used to steam and serve with soya sauce, they were very delicious… but after a week, no one wanted to eat as we had enough with breakfast, lunch and dinner going to be the same fish!

The moral of this story is…. Try to get something no one wants in one place and that possible be gems in the eyes of someone… in other words, in the world of watches try not to compete with people who is looking for Daytona while price is too competitive already. Ty something else as to get the best net profit out of it.

Omega had been producing a lot of moon watches which I am not able to tell what series and model as they are as many as Panerai produced in the past ten years… unless you are really focusing in the Omega collections. Jack of all trades but master of nothing is always right to describe.

Alaska is so cold, but this Omega is so hot

OMEGA, SPEEDMASTER PROFESSIONAL, ALASKA PROJECT, LIMITED SERIES XXX/1970, REF. 311.32.42.30.04.001.

Perhaps no other modern kind of watch has quite encapsulated the spirit of the original NASA and pre-moon Speedmasters as much as the Alaska Project Limited edition as modern Icon of Speedmaster historical importance.

The Omega Speedmaster Moonwatch Alaska Project was the limited edition Speedmaster watch model that Omega introduced at Baselworld 2008. It happens to have one of the most interesting "limited-edition stories" among the modern limited-edition Omega Speedmaster Moon watches.

In 1970, Omega developed a Speedmaster that was a bit different from the then current Moonwatch models. They called it the Alaska project (it had to withstand extreme temperatures, especially those on the dark side of the Moon) and therefore Omega came up with the solution of an external casing made of red-anodized aluminum. The project title Alaska was from then on used for every assignment they did for NASA, like this 1978 Alaska III project watch that was re-certified for the Space Shuttle missions.

The dial was made white so it wouldn't absorb heat, and the red anodized aluminum case protects the watch in a temperature range from -148F to +260F.  NASA never purchased these watches and the project was cancelled at the end!

No other watch has captured the hearts minds of Omega collectors and enthusiasts as much as this. The Red anodized aluminum case is 58mm in diameter and we've still to see any collector quite brave or mad enough to wear one "On the go". I did it!

Price of Alaska project Omega

It was about $60,000 in 2008.

It was about $80,000 in 2019, then we see there is demand on it in 2020 January, price rose up to

$90,000 and By May we bought one with $105,000.  And price kept rising…

It is now about $350,000!

We here we are talking about Brand new full set unused one…

Price is still going up, what is the estimated price by end of 2021? Interesting. 

What is next for Omega

Well, people asked me, I think one of the most successful project is Omega Snoopy, launched at 2003, then another one in 2015, latest one was back to 2020, the 50^th anniversary Silver Snoopy

Price is now $250,000, after goods are delivered in January 2021…. Price had been risen sharply and I really cannot estimated what price will it hit by Dec 2021…

From The past record, the 1^st generation Snoopy is now HK$160,000

The second generation is now $380,000

With the new added nice and Start trek movie feature at the back of the 3^rd generation Snoopy, I think this is the potential rising star or a hype for Omega.

I speculate that the price will overtake the 2^nd generation by 2022… and By 2024 the price could possible go to $600,000!

Of course, this is my speculation, nothing can guarantee the price will go to that level, or even go above that level.

We you have chance try to get one at your local Omega boutique for this absolutely stunning piece.

HK Snob

Units here is in HKD (Hong Kong Dollar)

Pictures 

1. 2020 50th anniversary Omega Snoopy 

2. Back side of the 50th anniversary Omega Snoopy with rotating Earth and Rocket moving along the Earth

3. Omega Project Alaska full set

4.  Anodized red case for the watch

5,6. Omega Project Alaska watch

7. Port Salalah

8. A green Wrasse

9. M/V similar as the M/V White Sea/HPDS that I worked on it 1981-1982

The Rolex Submariner "Hulk" history, current price and future value

 

Rolex is used to be so conservative in the past on sport model, however during Baselworld 2010 watch fair, Rolex released this so called “Hulk” with Green dial and green bezel! It was immediately seen as most daring design of eye-catching colour on a Submariner! At the same time, the 116610LV was an instant success upon its launch, met with great feedback and praise.

 When Rolex first introduced the Submariner in 1953, it set a benchmark and pushed the boundaries for what a serious professional dive watch is. Back in the days, the watch market looked a lot different from what it does today, a time when people used watches as a tool. Today, the majority of Rolex Hulk Submariner owners never put it into water, not mentioning diving with their watches.

Investment on Hulk

This is quite an interesting topic when it comes to Rolex, since Rolex, generally speaking, is known to be quite good investments.

Generally speaking, the secondhand value of stainless steel sports Rolex watches tend to increase in value over time. In particular when a certain model is discontinued. Looking at the past tends to give quite a good indication.

When it is practically not possible to get many of the sports models from Rolex in stainless steel from the authorized dealers due to an extreme demand and low supply, and as a result of this, it makes it a bit more difficult to predict the future and what will happen next.

Base on the trend of Sept 2020 until now, to talk a little bit about the Rolex 116610LV, it seems that this is a watch that is a good investment because the prices on the secondhand market have only continued to increase. 

Price of Hulk as of 31 May 2021

NOS 116610LV with sticker full set - $190,000

Used 95% full set 3-6 years watch $130,000 -145,000

Used 90% full set 5-8 years $120,000 approximately. 

Price of Hulk estimated by end of 2021

NOS 116610LV with sticker full set - $210,000

Used 95% full set 3-6 years watch $150,000

Used 90% full set 5-8 years $130,000 approximately

What do you think? Buy now?

HK Snob

Legend

Unit here is HKD (Hong Kong Dollar)

NOS – new old stock

 

 

 

More on Rolex GMT Master II Pepsi

Since Baselworld 2018 Rolex introduced the retro GMT Master Pepsi in Jubilee bracelet, the price was kept high until today. It was rising to HK$190000 in the first month of May 2018, and it is now still maintained at price of HK$150,000 after 3 years.

Lets see how the new movement Pepsi will be sold now in Hong Kong, this is using new movement with Ref 126710BLRO on Oyster Bracelet. Today price is HK$180,000, very high and there is not many stock available, I think the price will be moving around HK$160K-170K for a period of time. Well, that is a stainless steel GMT Master II, here I am talking about a very special Meteorite dial being housed into a white gold case with Red and blue bezel. I always like the combination of Meteorite on white gold case and Green dial with Yellow gold case, that is the best matching combinations.

Here I have two offers, one is May 2020 with sticker, new unused and one is 2021 May unused. Price is not too high as a special watch like this is concerned. 

Who know once this GMT Meteorite will be discontinued? another two years by 2023? then Definitely this watch price will be fetching close to HK$1,000,000 or more.

HK Snob

Luxury watch market amidst the Pandemic in Hong Kong

 As previously reported by friends, dealers, collectors, most people look to the secondhand market to buy their timepieces, and vintage watches pretty much dominate the sector. I should say more people go to the neo-vintage as they are tend to be more affordable.

Before the Pandemic in Q1 2020, we speculated that watch price would drop, however due to the strong Quantitative Easing by the US federal reserve, money is getting less valuable than it was before. People has money would either go for buying real estate and or certain expensive luxury watches.

That statement confirmed true after one year of the pandemic, where high-net-worth-individuals have continued to splurge on luxury items.

For example, the Sotheby's Important Watches live auction concluded on December 15 2020 and brought in $10.4 million — up 27% from 2019 — with a Patek Philippe double name Tiffany Ref 2499  selling for $818,600. Other standouts from the auction: A Cartier Ecran Mystery Clock that went for $564,500, and a Salmon Dial Audemars Piguet Royal Oak selling for $441,000.

In addition to the hype around owning a Rolex or Richard Mille, most understand that many luxury watches hold good investment value, like a Birkin or a Basquiat. These are all high-end, quality goods that have historically proved to retain the value paid for them or even become more valuable over time, often significantly.

Though Bain reported in November that the luxury goods market has fallen 23% to $265 billion this year, very expensive items such as Hermes bags relatively untouched by financial discord and market downturns. As during last weekend, the only shop that has a 20 persons queue at the entrance is Hermes at Canton Road of Tsim Sha Tsui.

Richard Mille is the Hermes of watches now. "Richard Mille is the most expensive. It's not just the craftsmanship, technology and research on material; it is the supply and demand. They only make maybe four or five thousand watches a year. You can't really get them.

Deloitte's 2019 "Global Powers of Luxury Goods" found that the average annual sales from the top 32 watch and jewelry companies topped $2 billion in 2017, and a 2018 Bain report stated that the secondhand market was worth nearly $25 billion, with watches and jewelry making up over 80% of all secondhand market purchases.

The next best investment after Richard Mille is a Patek, Audmears Piguet and Rolex. Not just because they are beautiful, but because they also retain their value. From there, Audemars Piguet — Bieber bought one in 2019 for $50,000 as a "lil wedding gift" to himself. Patek Philippe is also a solid choice — Jay-Z owns one worth at least $2.2 million. Note to take note that within these two years, we see that the demand on Blue dial Overseas Vacheron Constantin is getting higher, so as their classic pieces such as Perpetual Calendar especial housed in case of Overseas, 1921… etc.

Before the COVID-19 pandemic hit and destabilized global financial markets, the luxury sector was still recovering from the impact of the Hong Kong protests, which saw Swiss watch imports to the region decline by 26.8% in comparison to 2018. Facing the coronavirus pandemic, the luxury watch industry was preparing for its worst year yet. However, since 1Q 2020 up to now. The Watch price has been increasing a.

Most obviously is Daytona, All Daytona price has been up more than 15-20% Q2 2021 comparing with that of Q2 2020.

The moral of the story is:-

Real estate dollar per square foot is breaking record at midst of COVID-19.

Wealthy people are still buying luxury watches and Hermes amid the pandemic.

Poor people is still suffering from either loss of job or losing pay hours!

No confirmed date of border lock down lifted even for Macao or China, not need to mention other countries such as Thailand, Singapore, or EU.

I wish that more HK people would go for COVID Vaccination free of charge, we are living in a paradise that we have millions of vaccine surplus back up by our motherland but people is hesitate to go for jab. Those poor countries have thousands of death tolls every day because of not enough vaccine!

HK Snob

 

 

Three brand new Rolex on sale

 GMT Meteorite 116719BLRO Mar 2020 Brand new un-used with sticker HK$500,000

Daytona White Gold 116509-78559 March 2020 slightly used a couple of time HK$350,000

Submariner 116618LN May 2020 brand new un-used HK$280,600

All three are HK AD watch full set paper and box.

Interested party please whatsapp me 51229994

HK Snob

How does a Tourbillon work?

Tourbillon

It was developed around 1795 and patented by the French-Swiss watchmaker Abraham-Louis Breguet on June 26, 1801. In a tourbillon the escapement and balance wheel are mounted in a rotating cage, in order to negate the effects of gravity when the timepiece (thus the escapement) is stuck in a certain position.

In a tourbillon, the whole assembly is constantly moving in one revolution a minute. That means no matter what position the watch is in, those timing variations gain on one side or loss on the other side are essentially canceled out.

Below sketch clearly illustrated the difference between normal watch and a tourbillon.

HK Snob

 

2021 Novelties' Breitling Premier B09 Chronograph

 This is surely an awesome design dial mainly the pistachio green is a killer.

I think 80% of people see it will like it. and I believe that is one of the hot watches in 2021 after 

The Patek 5711 and Reverso in Olive dial.  

And I had ordered by deposit at AD for two pieces and I hope I can get them both in June,

It is a manual winding  with 28 Jewels with transparent bottom on the 40mm stainless steel case, double register dial and a matching crocodile strap.

Price is also very attractive as this would not be enough to buy a Rolex Oyster Perpetual 126600 in Green.

May you you have to add another USD3000 to get it. well, what's your hesitation?

HK Snob

Buying Behaviour

When Williams-Sonoma introduced bread machines, sales were slow. When they added a “deluxe” version that was 50% more expensive, the original started flying off the shelves; the first bread machine now appeared to be a bargain.

iPhone high end version and lower version is actually similar in hardware but matter of a software to limit the available functions and set a different marketing price for what they want to get main profit margin they expect.

Tversky and Kahneman conducted the following experiment: when contemplating the purchase of a $25 pen, the majority of subjects would drive to another store 15 minutes away to save $7. When contemplating the purchase of a $455 suit, the majority of subjects would not drive to another store 15 minutes away to save $7. The amount saved and time involved are the same, but people make very different choices. Hong Kong People are known to be good at this practice… Searching in internet, Carousell, facebook Chrono24 for the lowest offers and then they select the one they want to approach.

Salvador Assael, the Pearl King, single-handedly created the market for black pearls, which were unknown in the industry before 1973. His first attempt to market the pearls was an utter failure – he didn’t sell a single pearl! So, he went to his friend Harry Winston, and had Winston put them in the window of his 5th Avenue store with an outrageous price tag attached. Then he ran full page ads in glossy magazines with black pearls next to diamonds, rubies, and emeralds. Soon, black pearls were considered precious. In short, marketing is needed for making luxury items sales possible. 

Setting a price

Every item has a price. I purposely don’t want to put an over high price tag and wait for negotiation, and I think wise buyer know the real price and low bailer will be filtered away by doing this. I think negotiation is not my style, and if one day this is likes some supermarket sales tricks buy one get one free, you had better beware on the luxury watch you bought in this offer.

HK Snob

What is the watches I should consider to buy today?

 

What is the best watch that I should consider to buy today?

There is no definite answer on it as being a watch is being used as a man's accessory. Not an investment item, well we cannot say watch investment, but in other terms, it may say alternatively while a way to enjoy your watch at same time you feel like its value is not losing too much.

From my experience there is what I interpret.

Scarcity and “beautiful” is always one of the two major key factors for it long terms value to be appreciated.

Scarcity means that is was made in small number, or it was purposely made in small number.

Remember the logic, when you buy the watch that may be already made in a lot in production, so in future that may be also a lot available the value will not appreciate too much.

The one we used to be “beautiful’ is somewhat hard to say, aesthetic is quite abstract and that also involve people influence such as what is the hype in that period of time. Remember no one wanted to buy Daytona in 80’s. and that time you can get it easier with discount. Now Daytona is what most sought after sport watch from Rolex. So if you buy Daytona 20 years ago. It will be a good return today.

Remember people did not like big watch in the 80’s they can take 34mm Rolex at most by that time and not so many people buy Rolex 36mm in that time for Date Just, now we have Date Just, Date Day of 41mm and recently it is reduced to 40mm which is ore accepted by most of the end users.

What is the best Rolex watch that we should keep an eye on?

Oyster Perpetual Series

There are a series of colour with No.1 hot is Tiffany Blue, with 126000 36mm SRP $46,400 now it worth more than $110,000 the large version of 41 mm Ref 114300 is even selling $140,000 ! 

Next is Pink, green, Red, Orange, yellow, black and silver. Black and silver is not hot at all. And Pink’s price is the second runner up after Tiffany Blue, But I am eye on the RED, as the RED is exactly the China national flag RED, if this is becoming one day the preferred watch of the Chinese.. This may flip 4X or more. Of course this is my pure guess and I think there isn’t no such possibility. Buying for speculation.

GMT Master Series

There is one watch that I think it matches the two major key factors for price appreciation, the 126710BLRO in Meteorite dial, that is a rare piece and was selling like SRP $306,000 in 2020 and I speculate that this watch will fly 2X in two years. And 4X in 6 years. The reason is that Rolex is seldom using meteorite as the dial material, only a few pieces were using this material to make the dial such as Daytona, Day Date and this first time on GMT Master II.

How about the third one?

Sea Dweller 126000- No as it is under production.

Starbucks 126610LV – NO, just been launched in Sept 2020.

Hulk 116610LV – No, as too many had been made in the past 11 years.

Daytona 116500 White – yes or no, as this current price has been up 2.5X already, room for further going up is lean, EXCEPT they are going to discontinue it by 2021…. So if we can get one below $220,000 within 2021 should be good!

I think we should go for it.

Any other more??

Let  me think of it.

HK Snob