It would be 2023 Jan as by that time we hope the Russian Ukraine war will come to an end, then
the price of Rolex should more or less stabilized, if that is bight for own use that should be OK.
I think by then the price of Rolex is then 10% lower than Nov 2022.
It should not be going down further. just my instinct and hunch on Rolex Price.
May be not 100% correct.
Let's see
HK Snob
The reasons are complicated as partly it the buyer's market now. Larger sound dealers bought expensive watches Q1 will not eager to sell at this moment coz of the huge loss, however many smaller dealer or individual seller are selling them for cash, that had created a huge drop of price average of 30%
Most 80% of buyers are so worry the price will not come to an end to drop, so they keep observative.
These are watch price in HKD, for new watches at market price.
Note the heat of 2022 Royal Oak 16202 was $2m in March, now is about $740,000 which is about 2.7X higher than MRSP! but this is one of the iconic Royal Oak.
BNIB =brand new in box
NOS= new old stock
HK Snob
It took him one week focusing on this watch.
Finally he passed me the watch in tip top condition, no polishing of course.
This watch had been leaving me for past 6 years and finally came back to me possession.
The time is adjusted to gain 8 second per day, that is good for Chinese like I
The first two pictures are the new condition of it.
HK Snob
There is no need to follow what 80% of most people know about what their so-called best watch collection's definition.
If you follow this thought about how most people appreciate the watch becoming what is your favorite watches will not mean that you can't find what you love.
Watch is able to be categorized love of individualism.
There is always very beautiful, rare and iconic watch not necessary those 80% can recognize...
such as Reverso, pre-Vendom Panerai, Rolex Prince, Rogers Dubuis bold large watch of the early time such as MuchMore, Cartier Crash, Santos and Tank. Patek's Calatrava, Vacheron Constantin Moonphase, slim and smaller Overseas of 37mm...Royal Oak of the 70s', Piaget Lapis or Onyx dress watch, Rolex Day Date Coral, Submariner Onyx, Rolex Milgauss of the 60s.
Keep the list on and get what you like and more importantly is still affordable!
HK Snob
Tiger eye, meteorite and onyx dial, super rare.
HK Snob
Thank you Bowie Cheung and Elssi Yu
HK Snob
She took me two minutes to fill in some of the apps. and they took my watch. I asked how much.
They told me is about HK$5,000 to $6,000!
Their staff's professionalism proven today when the official invoice came indicating that service charge is $4,800 and replacement of hour and minutes hands is $625, crystal change is $1,430.
Total charges is $6,855.
Hands and crystal changes is subject to me... I will change them.
This is another 5 stars super good service.
They are efficient, 10 minutes to check the watch, 3 days to send me official quotation and the price is sweet!!
Hublot is getting very popular and gaining more market share in Asia Hong Kong, Japan and Singapore...
Thank you Hublot and your friendly staff!
HK Snob
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1955 IWC Automatic Pellaton Automatic watch in a 35mm stainless steel case with a clear silver dial. This particular watch has the Pellaton winding system. This system paved the way for IWC.
Pellaton hit upon a surprising solution:
instead of putting a ball bearing or cog at the centre of the rotor, he used a
heart-shaped, eccentrically bearing-mounted disc. The latter converts the
rotor’s revolutions into the to-and-fro movements of a rocking bar. The bar’s
rocking movements are then transmitted to the winding wheel by two pawls: while
one of them pulls the wheel (i.e. winds it), the other glides smoothly over the
top of it until the roles are reversed. The mechanism patented in 1950 is
unusually efficient. “The rotor’s smallest movement in either direction is used
to wind the mainspring,” explains Gäumann.
Even if the principle is simple enough, an
automatic winding system poses many different challenges for the design
engineers. On the one hand, the mechanism must function perfectly for a wide
range of wearers with different habits and lifestyles. On the other, the
automatic sub-assembly is exposed to more wear and tear than most other parts
in the movement. In the new 52850 calibre, for instance, the rotor has to
complete 2600 revolutions to fully wind the two barrels in the Portugieser
Annual Calendar. Although the rotor weighs just less than five grams, the
forces exerted on the components during rapid movements may be as much as 5000
times that of gravity. Protecting the oscillating system against wear and tear,
therefore, merits special attention.
Movement: Automatic C852
This particular beauty is having an even
patina dial which reflects a vintage taste of an IWC Iconic watch in early stage of automatic watches
It comes with an original certificate (warranty)
A real collectible item if you are a fan of
IWC watches
HK Snob
Roger Dubuis MuchMore Perpetual Calendar yellow gold ($300,000) Complete service $19,000 (original price was $30,000, but I negotiated with the HK general manager and he gave me a special discount. 3 months 2018.Pacific Place Boutique
Patek Philippe Nautilus White gold 3800/1a ($1.5M) complete service $10,250, 4 months 2020, Peninsular Patek service centre
Vacheron Constantin Tourbillon solid yellow gold watch ($350,000) complete service $32,000 4 months 2020, 1881 Boutique
IWC Pilot Perpetual Calendar 34mm white gold ($320,000) service on time adjustment under warranty, Free of charge, 2019, IFC boutique
Rolex Daytona 16528 yellow gold ($340,000) complete service including spring bar1 pair and complete service $9,970, 3 months, Jardines house 14/F
JLC Reverso rose gold ($200,000) complete service $9000, 3 months 2020. Prince Building Boutique Central.
Hublot King Power ($230,000) complete service, estimated $5,000 under quotation stage, this week. IFC boutique.
Roger Dubuis Diver White gold ($200,000) complete service estimated $15,000 under quotation confirmation, last week. IFC boutique.
Comment on service
I think all carry good quality service, especially Patek Philippe, they are so professional, the staff is so friendly
Rolex is the lowest in price, people commented Rolex is not so good but I think they are having a standard charging scheme and super reasonable
These are all my beloved watches and they all carry good service. I almost forget to give Seiko service another thumbs up! As even as small amount as HKD$400 of watch bracelet I ordered, they called me and told me where to pay deposit and will advise me when the bracelet will be available. very detail and helpful service.
All currency is HK dollar.
Remarks
(Bracketed highlighted one is the current estimated value of the watch)
That is more than the SRP of a brand new automatic Royal
Oak.
I went there two times already first time meeting lady and
ask me to sign some document but I did not as it was about 6pm. I made another appointment
again to meet them again. That was back in June. So I left the watch however
they quote me verbally the complete service of this watch is about $100,000. Official
quote has to be sent from AP le Brassus.
I also presented my Royal Oak Offshore 25770ST to them to
overhaul, it is a chronograph and the charge was $14,000; and it was retuned me
in two months... I was satiafied with that service.
I have asked them last two weeks why it take so long for the
official quote for my 5402, they told me summer vacation of Switzerland… last
Thursday they call me that the complete service charge is $198,000. That is to
me not a reasonable price. My request is the break down for the charges, of course
there will be a meeting on 14 Oct at AP House on this.
My experience in service watches typically watch I the past
3 year are here:-
Patek Philippe Nautilus 3800/1A white gold $10,250, 3.5 months
– two year warranty, Superb service!
Rolex Daytona 16528 overhaul HK$9,000 (two months) – Good
service.
IWC Pilot White gold perpetual calendar 34mm as I need to readjust
the time from gain of 12 sec. a day then they retuned me with 2 sec. gain a day
in two week! It was free as the watch is under warranty. This is an excellent
service.
Richard Mille RM-11 Ti not running well, it time to overhaul
after 2011. The charge was $28,500 2
months to return me…- Superb service, and I got one year extra warranty on that
watch and a beautiful RM watch box.
Well, back to them 5402 well, this is an old watch believed
it is in the year 1972. But it is a simple two hand automatic watch with JLC
2121 movement…
I think any one in HK can do the same job… but I just afford
there in in case some parts is needed would be nice to be done in Audmemars
Piguet.
This told me I was wrong… as according to AP House, there
are only two watch smiths such are qualified to do this watch overhaul in
Swiss… if that is true I just wonder wo can repair the 1985 ultra thin AP
Perpetual calendar, which I had before.. probably the charge will be aso very
high!
What I guess they don’t want to service older watch… or they would like to charge at certain percentage of the current value of your watch… this looks more appropriate as my 5402 which may worth at $2M. So say 10% o it would be about $198,000, Oh I just discovered the secret AP formula… as I had talked to the CEO of AP at Linked In page…he told me to send my detail info to social.media@audemarspiguet.com. That had been more than 10 days with no reply at all, even after my resent messages! Completely sucks!
Conclusion
1.
They have only two qualified smith to handle vintage
automatic Royal Oak watch in their factory
2.
How to service more complicated watch such as
1985 Perpetual calendar or even Tourbillion? Or Subcontract this service to
other watch makers in Switzerland? That is why thy have to charge much higher?
3.
The charge scheme is based on 10% of the current
value of the watch for complete service ?
4.
Comparing with excellent repair services at
Patek, Rolex, IWC , Richard Mille Audemars Piguet is really need to learn from
them in service support.
5.
The one who bought this 5402BA in 1972 saved
Audemars Piguet from bankruptcy is now being punished for sending them the
watch to repair… is that a Karma? IWho saved the Audemars Piguet in 1972-1974?
6. Should I consider buying more Audemar Piguet watches in near future? No, I have the reply as I think there are better choice for me… Patek, Vacheron Constantin , Richard Mille, IWC, Panerai Rolex, Tudor or Grand Seiko!
Moral of the story, AP is not as what I used to think it is
as before.
I always believe a good after sales service is key to win a
market segment.
HK Snob
Top Picture is now being a hostage for repair at le brassus
Second picture top one is the Nautilus 3800/1a white gold after complete service at Patek Philippe Switzerland with just HK$10,250 still under two years warranty. I am super happy with Patek Service!
Especially in Hong Kong, those younger at age group between
24-38 years old many of them are quite lost in mind, as gathering from friends and
watch sellers I know these are the quite common...
1. Some of them are not serious buyer, some of them
click your product as he wants to try luck to buy lucky go cheaper goods. They
are not serious.
2. Many of them would like to understand more on
the product and he makes use of it to ask you questions only.
3. Many of them want to buy but in over cautious
way that he ask too many questions.
Don’t fall into the psychological trap that
asking more meaning they are more interested in buy, they just don’t know. 80% of
them don’t buy.
4. Sometimes, we need to test them by providing a
slower response and see if they stop interested in your products, and ask them experience
on your products, as they might be empty on the knowledge on your product, they
you can provide them more technical information of our products, and If they
are serious then they will come back to you.
5. These are common no buy signals:-
Let me think about it
Let me consider it
Can you further reduce the price?
6. These are professional way to refuse your
products
Oh I forget to ask, do you have the
original invoice at Rolex (it has been stated no invoice)
I just noticed that there is a stain on the
dial, Let me rethink about, (Actually there is no rusts at all)
Oh, my girl friend had just informed me she
is pregnant and I need to save money for that!
7. Scammer (most likely)
a. Do you accept cheque?
b. Can you meet me at 0300 morning ta Sham Shui Po
Ap Liu street!? I pay cash for your two Daytonas
c. She says she is busy at meeting suddenly and she
sends his younger brother to trade with you. Please call his number to arrange.
(beware)
8. Why so cheap?
There is only one in 100 that asks why your
products is so cheap, he might not buy also and
This is a most hilarious reply from one of
my partners to this weird buyer.
“Because of COVOID-19, all my family member died and I need money to arrange their funerals! (This is a real one!)
Whatever Rolex models are you interested in, Daytona is of no question the top if the list, the auction record is held by Daytona, no matter Paul Newman, Platinum Daytona, Rainbow, we are likely talking about the Daytona family.
This is 16528 with Zenith movement modified lower beat to suit the Rolex requirement. a durable work horse, Don't miss it if you see one.
Top of the line is black floating line in with inverted 6 in black, porcelain white, black with diamond,
Lapis Azuli dial. Onyx dial ( I have not seen one yet) Creamy dial P series 116520... W series 16520 Tropical dial.
Reference price (actual price depends on if there is paper and condition of it)
116520 white $200K
116520 Black $180K
116520 P Creamy dial $1m
16520 Black A $220K White $240K
16529 Black Black Patrizi $300K
16528 Black no diamond $280K
16528 Black with diamond dial $320K
Current production model 116500 White $270,000 Black $235000
HK Snob
Remarks, attached with a Goro's bracelet
I have seen a lot of people go with the hype for steel watch, as they think that can be used everyday.
Yes they could be worn everyday, but somehow these kinds of steel watches are tool's watch.
Such as those Rolex Submariner, GMT Master, Explorer, Daytona and or Milgauss, they are rugged, bigger but somehow it lacks of a kind of elegancy and style.
Have you noticed that the salespersons in Broadway, Fortress, or Watsons, they are wearing these Rolex tool watch, like part of their uniform. When foreign visitors come to Hong Kong, they told me why many Hong Kongers are so rich, I told them they need to be recognized in public, and the easy way is to wear a Rolex, and most of all. They are good reliable watches.
You seldom see a salesperson nowadays wear a Cellini, Calatrava, Tank or a Reverso...
In fact they are also durable, strong and could be used a daily watch with exception that may be not too good if you need to work outdoor where you may sweat a lot that may not be comfortable on your wrist especially in Hong Kong' s hot and humid Summer. Other season, they are perfect watches.
I like those dress watch size from 30 -36 mm diameter, I think this is wrong with a dress watch of 39mm, 41mm that is not beautiful at all even you wrist is large as 18cm -19cm. They just don't look right with this size and proportion.
Dress watch should be
1. clean dial
2, Manual or Auto
3. size 30-37mm
4. Thin 2-5mm
5. Stone dial would be an added value but rare now
6. Precious metals case.
I think they are adorable and impeccable in taste.
HK Snob
