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

Green is the new blue

Now almost every brand introduced green into the 2021 market

JLC’s Reverso, Breitling Premier green, Zenith Safari chronograph, Rolex’s Hulk is hottest cake, Tudor green with Bronze, Oris 65 dive watch green, amongst all, I think Patel Philippe Nautilus green may be the hot topics of the year.  I have ordered all these except Nautilus as that may need $3m for one!

UK media Telegraph interviewed Patek Philippe’s CEO Thierry Stern about the 2021 Nautilus 5711-1A-014 green, his answer made me think about this gentleman’s IQ again as he is insane or he is making joke or bullshitting us? As he said even his son cannot buy such a piece. Well, he is playing trick on marketing, where by just changing the colour of a Blue dial into green with other things unchanged with limited production of say a few pieces would make the world crazy ford. Antiquorum has a preview on a piece of steel 5711-1A-104 green for auction. Who are permitted not to cut the seal at AD? Who is selling this watch into hands of a special person and who this special person has guts to auction it within the same year. I comment that is only some very special people like the name I mentioned, who else? LOL…

Rolex had introduced a few colorful OP (oyster Perpetual) in Sep 2020 Price has been going up I just take a ref 126000 36Mm as an example.  SRP is $42400. Tiffany blue keeps on increasing in the open market from $80,000 to $90,000, now is $110,000. Green was $80,000 and now is about $90,000. Red was $76,000 and now case to $91,500. As I had mentioned before Red will likely be the one who may go in par with the price of Tiffany Blue as the colour Pantone is like the China national flag. One day the Chinese will flip a few times higher on this crazy red. Of course, it is still too early to see which one is the King or queen, Tiffany Blue, green or RED?

Let’s wait for COVID-19 be gone then market will tell by itself.

HK Snob

Remarks currency here is HKD

 

Watchgret

We used to have gathering and many of watch collectors came to show his timepiece at a fixed time on every Saturday… there had been a few cases that reminded me sometimes decision should be made within ten seconds, thinking too much will lose our opportunity.

1.     8 years ago, one guy showed his AP 5402 A series in the meeting and asking who would like to buy it? I was the first one say I buy not even asking the price… So I got it next day paid. That watch is still keep under custody in Philippines by my good friend. 

2.       Another occasion that one guy showed his Vacheron Constantin 222 in solid gold with request of  certain amount,  I was the first one said “I buy it!” I got this and this was my good judgement. 

3.      There is one folk asked who want to buy this Submariner 16618 with Onyx dial with HK$180,000, I hesitated a while and I passed, well, someone bought it immediately.

After 4 years, the same guy came in and ask who want to buy this Submariner 16618 with onyx dial? This time I say “I take It’ and I was able to possess such a great timepiece from Rolex.. and later we sold with 2X the price we bought after one and half years. 

Watchgret

I had a chance to buy a Rolex Submariner 16618 solid gold with Lapis lazuli dial with HK$130,000 in 2012. But I had another offer of Daytona 16528, instead what pity I was I took the Daytona… but that Sub Lapis was sent for auction 6 months later for HK$730,000. This is a big regret for me.

 HK Snob

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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