Luxury watch price in Hong Kong

Price of some luxury watches in Hong Kong

Rolex price is continuously to appreciating in the open market which I could day more or less controlled by dealers. Next Article will cover some of the dealers movement in Hong Kong.

While sales of these wristwatches dipped for a short period of time during the height of the pandemic in 2020, purchases have recently jumped higher. According to the FHS, a Swiss watch industry research group, Swiss watch sales were up 7.6% in July compared to the pre-pandemic baseline of 2019. Sales growth jumped a whopping 48.5% in the U.S. in July compared to 2019 levels, and even 75% in China. This is the best reply why Rolex price is insane high!

Rolex recently had announced that they will try to do the best to increase their production output at three of their factories in Switzerland. Rolex officially said they “Will TRY”….as there are a lot of quality control issue if they want to increase the output. Meaning is that be calm, the price will be still going up!

Patek Philippe

Well, it is getting worse we supply and demand is never been able to be in balance, demand is much higher than supply. An Aquanaut model 5167 used to be 1.6X of SRP $140,000 is now 3X high in the open market.

The Nautilus 5711, and or 5712 they are now lying in the range of 2.5X-2.7X of SRP.

Some special model such as Aquanaut 5968 Green, SPR is $330,000 and only we can buy with $1.3M in the open market!

Thierry Stern had mentioned that they will TRY to increase production output but he added, due to the need for certain skillful watch smith, normally it takes 20 years for bring up more skillful people to increase the volume of production… 20 years!

So this statement will ensure the grey market price of Patek will keep increasing…further at least for 10 years!

There will not be any chance to see the price lowered within the next two years, if there were geographic dispute between big countries, trade war with Switzerland, or war, of Wall Street economy slash or Political Chaos, in these cases. more speculators would dump more cash into this Patek as a security protection, price even would go up further!

Probably looking for something still undervalued today such as Vacheron Constantin as we noticed through all the dealer trading groups, that Vacheron is some of the frequent asked watches now after Rolex, Patek, Audemars… worth your thought now.

As for Richard Mille, there are few different idea, those who are having RM is likely to support emotionally and financially on the watch, those die hard old school watch lovers seems not being moved by the crazy price of RM as they still prefer those classic Luxury brands mentioned above. Others are swingers wo are watching and see if there is a chance buying good priced RM, but never can  at least for the up-coming 1-2 years.

HK Snob

Currency here is in HKD (Hong Kong dollar, 1 USD=7.75 HKD)

Hong Kong sellers and buyer

Hong Kong watch trade group, behavior and funny buyer practices

Here and there are a lot of way for people connected for watch sale, namely fb, IG, Carousel, WhatsApp groups, etc.

These are dealers that they have set up a lot of watch Whatsapp groups

1.        “HK dealer groups” (247)

2.        “HK serious watch dealer group” (247)

3.        “HK dealer Vintage and used group” (247)

4.        “HK dealer vintage and used group” (247)

5.        “Trusted dealer Europe” (246)

6.        “Watch jeweler and parts “(217 )

7.        “Audemars Piguet only” (136) 

(Bracelet shows the number of members in the group) 

The very first host is an Italian who started this in 2018. And many other people just copied and set up another group on their own and run.

For these groups you place two pictures and name a price and within few minutes someone will reply you if they want to buy.

These are mainly for dealers in Hong Kong and overseas. I think the daily trade volume is average HK$10M.

From these we can see roughly the trading price of Rolex hot models and on and off the most popular is Rolex, Patek Nautilus, Aquanaut and some AP, recently months Vacheron is coming up actively.

Carousell

This is in fact a good channel to trade, but this is not purely for watches, they have all other things such as toys bags, shoes, toys etc… so it is a bit confused, but never the less you can search the watches you want and with a few seconds you can see what you can buy.

Take note that you have to find those with high rating before you approach them, those without any trade record or without any good rating you have to be very careful as they might be scammer, and not a reliable buyer or seller. Everyone was once a beginner, they many have good people, but just be careful.

Funny response from the buyer:-

1. I really have heart to buy your watch, just I don’t have time!

2.   2.I like to take your offer, but my wife rejected me to buy!

3.   3.How come your watch does not come with warranty paper, is it a stolen watch.

4.   4. A few years back like 2016 someone had encountered a Australian asking a Rolex Submariner 116610LN and he quoted him price which is higher than MSRP by that time, he named as Simon was becoming insanely rude and said my friend was a scammer, and wanted to report to police.. my friend blocked him as he did not want to waste time explaining him at all.

5.  5.Recently there is one cases which was actively discussed in fb, there is a HKer guy who has a Daytona 116520 and asking HK$290,000

He will ask you to 100% transfer the money at his bank account, then he will show you the watch wearing on his wrist!

Wow, who will dare to do this silly things… as once money is transferred, he can run away.

6.  6. There is a buyer who had agreed everything that we will trade 2 days later with my effort to get the buyer…everything is fixed, but 24 hours before the transaction time, the seller called me he has sold his watch already. This is not a gentlemen's deal.

HK Snob

Scam Alert in Hong Kong

Watch scam is very common, even many old birds are being cheated… next one may be you!

 1.       Newly set up account such as fb, Carousell, IG with no less than 1 year of good reference, and or rating, beware of it.

2.       No WhatsApp Phone number.  Always no phone contact. Suspect!

3.       You should propose place for meeting such as Restaurant, hotel lobby or VIP lounge inside a bank, if they counter proposal another place such as MTR station, beware as they know they will be CCTV recorded in the bank and Restaurant area.

4.       Don’t underestimate these people as they are pro. Check and proceed with caution always.

5.       Always go with a third person for an expensive watch, a friend of yours or a body guard and or boxer. 

6.       Don’t seat at the widow side and if they have more than two, they can grab your watch and run whilst another one blocks you. (It happened!)

7.       Suspect more if they don’t do too much pricing negotiation as they have prepared to give you e-check deposit. Don’t give the watch to them when you smell something abnormal.

8.       Don’t buy those watch which is 30% lower than market price, very susceptible to be problematic goods.

9.       Don’t think that watch and with paper are not possible to be stolen one, many watches are stolen one with paper even full set.

10.   Always CASH deal, don’t believe they say cash is dangerous, we sold last Patek 5270P and RM-011Ti in cash, dealers will give you in cash.

11.   When during e-bank transfer “CQM DEP” is meaning check deposit… that is a possibly a scam. Don’t give watch!

12.   Don’t buy stolen watch one day the police will call on you and you will be in deep shxt!

13.   Always keep origin receipt of your watch and Keep a Record on the watch S/N in case stolen police will be able to trace them back, of course not 100% guarantee to get back your watch.

14.   Don’t talk to stranger no matter sweet lady or men dressed in a banker look in bar, they could put put some medicine into your drink, then when you feel very sleepy,  your watch will be take away and you only know it after an hour or two.

15.   Many people will say pay you 15% more if you bring the watches to Italy, Paris…wherever, forget it, as you may be robbed just outside the airport.

16.   Don’t be feeling you are the lucky man to know one lady you meet in bar and bring her home for sex! Friend of mine was being photoed right at spot and asked for all his watches and money. They are pro… he is so afraid now, I told him go Police!

17.   I had a friend who we know more than 2 years, asked someone’s three Rolex and he can sell to his celebrity friend… well, he pawned it and claimed loss…. took us two years with the help of police to salvage those three Rolex back from pawn shop… his name is Marco Chan… stay away with this scumbag!

18.   If your watch is known to be stolen, Patek and or Rolex can have the right to confiscate them right at your presentation to repair, or service. They have company lawyer to “deal” with you for years. I had spotted one couple to take one Patek watch into Patek repair centre for service, good luck the clerk lady told them that is known to be stolen watch and returned them at the counter, they took it and ran at ultrasonic speed out to the door and disappeared in fraction of a minute.

Lesson had been learnt… Don’t want you to be the next one!

HK Snob

 

 

Mooncake Festival

 Next week will be the second largest holiday for Chinese in Hong Kong and China.

Yes the Mid Autumn Festival. Here we are selling mooncakes and people are buying in advance for the event. This year, the Mid Autumn Festival will be on 22 Sept. Tuesday.

I have taken out my beloved VC Triple calendar to see the real full moon on my Watch on these Days.

Wish everyone would have a great  and happy family union on that day.

Happy Mid Autumn Festival in advance!

HK Snob

When Rolex price is crazy, think about the poor cousin, Tudor

While everyone is craze for Rolex, have you all ever thought of Tudor, as the thumb of rule is, buy when price is low.

When most of the people is pouring money into Rolex, his young brother Tudor price is still on the edge of rising. I can say it is still cheap for some of the awesome coloured Tudor.

These is some of my good friend's Tudor collection, he had just bought another 16 pieces of Tudor Tiger within the last two months.

I think the most after ought colour is Coral, Red, creamy yellow,and Green. Do keep an eye on these beautiful Tudor as they are still OK to buy. Price is from HK$22000, to HK$ 75,000.

Within 5 years. more people will be buying these Tudor and I am sure by that time the price is 2X higher or even more.

While if possible, get those with full set.

Don't mind paying more 25-30% more.

HK Snob

A exciting experience to JLC 1931 Cafe

 This is a first day event of JLC 1931 Cafe running at a Gold Scene Cinema at Kennedy Town by invitation. If you don't like Reverso, you should come to watch it, if you are fans of Reverso, you won't miss it at all. The most interesting piece of the Hybris Mechanica series of ground-breaking, ultra-complicated timepiecs Calibre 185. So called the "Four faces", Limited to 10 pieces each worth Euro 1.3M. I was told all ten pieces have been sold. 

There will be talk shows and movie watching with the coming few days, I believe that JLC has invested over HK$3M or more on this event. I think more HK people are coming into peeping into this Jaeger Reverso when people can not travel for two years, or may be it is a good chance to spend some time to purchase a legendary time piece created in 1931. 

The first Pink gold single dial Reverso I bought in 1985 was HK$26,000. And I think the money in that period of time sis much higher than today. 

I think if we have a dress watch competition, Reverso  is definitely one of the top ten.

HK Snob

Breitling new WBL-00348 in Green

 I have been waiting these two watches for more than 3 months.

After we paid the deposit.

I love the green

HK Snob

On sale Item

 Rolex 1665 Sea Dweller

Rolex Pepsi 16710 Full set

HK Snob

On Sale items

 

Omega Snoopy

Rolex Explorer I 

Rolex Fat lady Coke

Etc

HK Snob

On sale items Parek, Rolex , Omega, Panerai, Breitling etc

Brand new Rolex FS Explorer I 214270 $78,000

Brand new Rolex OP36 126000 Coral Red, watch box, warranty card and box Dec 2020 POA

Brand new Rolex OP36 126,000 Silver, Full set POA

Rolex Used Sea Dweller 1665 Mk III 1979 Naked POA

Rolex Used Fat Lady 16760 Patina dial Coke naked rare Naked POA

Patek Calatrava Ref 3591 33mm yellow gold with original paper year 1972

Automatic ultra thin $78,000

Breitling 40mm in Green Brand new full set POA

Omega Snoopy 2021 full set brand new POA

Many more...

Deal locally in Hong Kong 

Message me for more, I shall post pictures later

HK Snob

 

Vacheron Constantin Triple Calendar

 One of my favourite VC dress watch.

It is simple, automatic, Blue Dial Moonphase with traditional layout and dial design.

36mm diameter excluding crown.

A lovely piece in my Vacheron Constantan collection

HK Snob

 

Collectiors' Journey with Vacheron Constantin watch makers

 It was a honour to attend the event at Prince building VC boutique on 27 Aug 2021 with Friends together.

These are the valuable watches shown top down in order

1. Jubilee 1935 $134,000

2. Stainless 1947 only 254 pcs made, Steel was a rare metal during war time $970,000

3. yellow gold $118,000

4. Pink gold $126,000

5. My friend's Rolex Stella 18039 in blue $456,000

6. Ref 4241 $290,000

7. Ref 4141 $290,000

8. VC Titanium Ref 85050/000T-9341 with 260 movement $350,000 estimated at current value

These watches will b sold at the boutique after the event on 6 Sep 2021 except item 5 and 8.

HK Snob

New Rolex Green palm motif dial Date Just 126234

When Patek’s CEO Thierry Stern had mentioned that even his son cannot get the Patek Nautilus 5711/1A-014 Green …. Made me laugh out for ten minutes!

Is that the right timing Rolex launching this super beauty to take over market loophole of the Nautilus Green? Of course its is not justify to benchmark a Nautilus with a Date Just, that is not fair for them. Or this is a sensical year after many months of stupid lockdown and our ugly two tone suntanned face when facial mask is removed?

This is an awesome year for Rolex to launch an utterly non-traditional dial on a tradition watch Date Just. I give Rolex a Thumb’s up!

For many years I wrote on my blog, Rolex is more than just bore as there were little new gadget every year when new watches were launched…

Change the colour of the dial, change the material of the bezel, enlarge the size by 1mm, not enough make it 2 mm? No, too big, let’s go back to 40mm...and made different combination on these things… What else?… May be Rolex heard us and give this new look of a green leaves on the Date Just… Please don’t put it on the Sport models and that hurts… this dial works on Date Just does not imply it looks good on a Daytona …There is 30 over Daytona variety already and so bore that is no one even knows how to use the chronograph… a boring time pieces even no date but price is up and up like the Chinese DF41 reaching 15,000km.…shoot to the tip of the atmosphere and Bloom!

I enjoy odd dial Rolex, Domino Pizza Air King, Omen Motif Date Just … and this green palm leave motif,… I am more than happy to pick up one from one ADs….Ref 126234, 36mm, 70 hours power reserve, the right size for me. A 18 KT white gold Fluted bezel and Jubilee bracelet of what the “Rolex Steel King” is used to equipped! – perfect combination.

It could be worn week day, at work, in bed, meeting with customers, watching Bikini at beaches, go to meeting Taliban friends in Kabul would not be too high profile… Join the meeting of Tsai Ing Wen in Taiwan may get a surprise kiss from her because of “Green”.

And most of all, a reasonably friendly MSRP HK$64,600…. Of course, that is what most of us could not get. Still not the insane price of Nautilus 5711 Green of US$400,000!

HK Snob

 

What kills the vintage Rolex market

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

 

Vacheron Constantin Platinum Perpetual calendar watch

 This is a rare piece of  Vacheron Constantin perpetual calendar dress watch in platinum.

It was available only one piece with HKD$1,680,000 back in 1996 bought by one tycoon in Hong Kong. We are working on the archive paper from Vacheron Constantin.

If you are into VC, don't miss this holy- grail.

HK Snob

The Big Mac index and Rolex Daytona

The Big Mac index is regarded as an indicator of purchasing power and it shows us the price evolution in any given country of this exact burger. What the historical pricing data tells us is that Big Mac prices have gone up considerably and quite consistently. The average price for a Big Mac burger in the USA is US$5.66 in 2021, and it was US$5.30 in January 2018. In comparison, the same burger would have cost you only US$3.57 in 2008 and just US$2.51 in 2000.

Looking at the above 40 years chart, listing the prices for several Rolex models, the seasoned chart-ninjas among you will have noticed one key anomaly: the end of the Rolex chart is as flat as a pancake. Since 2012, prices remained mostly the same across the listed Rolex models. That is more than 5 years now that we haven’t seen any (significant) price increase for these models. Looking at all the years prior, that is a pattern that is absolutely out of the ordinary. The Big Mac price however, has gone up consistently. Comparing with year 2000 to 2021, what is the Big Mac appreciation , it is 2.25Xhow about a Rolex Daytona in 2000 a Daytona 116520 is about US$9,600.00. By 2021 if you don’t use that Daytona and keep it as it was bought , it’s a NOS, now you can sell it at $25,600. That is 2.66X.

From the curve, only Daytona can catch up with the Big Mac, second one is Explorer II 16570 say A series. It was about 2.2X  appreciation from 2000 to 2021.

Note that the price is the old watch is highest when it is kept as new (NOS) if that is being used and loss of warranty, price would be drastic reduced. 

HK Snob