Slow down in the pre-owned watch market, especially after the Genneva case.

[David_cheong]

After this 'chow lung kam' (burnt investment on gold) in our local scenario, I have observed my friend's (pre-owned shop) turnover on preloved watches had slowed down...These days most of the stocks from previous weeks are still lying around, not like the early month where the turnover is very high.

I believe these kakis / pre-owned watch players have now 'less' disposable fund to indulge on this past time as before.

I have also heard that certain top brand in the pre-owned market has become stagnant.....

Is the present pre-owned for watches really this bad?, And what are your thought on this...Please share??

dc

[takashi78]

I would think after this incident more watches will end up in grey dealer?
Since they need cash and thus should end up selling their kam lou?

[hanz079]

I think not just because of the Genneva Gold thing.
Overall economy is not high flying...
And all this have trickled down to the working man.
And some... like me, have found other areas of indulgences that are more fulfilling.
So, watch collecting might have to move down the priority list.
But yes, like you... I have also noticed the slowing of the pre owned markets.
Pieces that used to fly off the shelves are not doing so anymore... even at lower prices than before.

[TheHobbit]

The slowdown has been around for sometime, the economy is not good or great. Lots of uncertainty as well. Of course the upcoming SIHH and Basel fair with new watches does not help.

[siodee]

Does it mean it is time to enter and buy those beloved Pre-owned  , I still have some in my wishlist 

[bryankwc]

Agree with both Hanz & Hobbit.
I've observed that the favourite makan places in Ipoh, where most of the best food are found,   are no longer as packed.
Generally, despite all the freebies Ah-Jib Gor is dishing out, the actual cash on the street is not flowing.
Hmmm...maybe David can organise a small GTG to his friend's & a few other pre-owned shops.
I'll be interested. 
Take care, Ciao! 

[dpkong]

Good news!!

So if anyone spots either

1. a PP 5167 on rubber strap
2. a PP 5711 white dial
3. a AP 15300 blue dial

for sale somewhere. drop me a PM with contact info.

[IWCking]

check other foreign forums, more people playing PP and AP there. I think i cant name them here. I knew there was one white 5711 sold 20% off list price recently and the owner only wore a few times.

[7thfort]

The slowdown has been around for sometime, the economy is not good or great. Lots of uncertainty as well. Of course the upcoming SIHH and Basel fair with new watches does not help.

these are uncertain times. winter could be coming. better be the ant than the grasshopper.

[harkensng]

Good news!!

So if anyone spots either

1. a PP 5167 on rubber strap
2. a PP 5711 white dial
3. a AP 15300 blue dial

for sale somewhere. drop me a PM with contact info.

You r in luck! Check Derek Siew's posting!

[Gigi]

My usual 2nd hand dealer here in Aussie had slow down too. During 2011 I can see the stock turnover was high. Nowdays he dont even  want to take in Submariner green ceramic and usual offering were slow sell to move compared to 2011 where stuff literary sold right away when the owner bring in the stock to the shop.

[MerzT]

Is it true the chairman of genneva shot dead? Found the news in internet media .. Im not sure whether its legit

[Watchnewby]

Agree with both Hanz & Hobbit comments.
Not only in the watch industry, but others too - construction, building material trading etc.
Many factors - lack of real cash/funds in the liquidy market, overall sentiments on the next GE, cash needed to fund the GE thus lack of real funds for people like you and me etc.
Agreed with Bryan on his statement "Generally, despite all the freebies Ah-Jib Gor is dishing out, the actual cash on the street is not flowing."

David ,
Maybe can organise a small GTG at Summit after February & visit a few other pre-owned shops nearby. (Of course, that is if you are free at that point of time as I know you will be working on Sat & Sun too). I am sure some members will be interested.

[ronaldindin]

burned their hand, not only watch market but other business too. cars, branded bags and so on

[sm]

Hi

My 2cents worth.

I think this forum is quite influential. Buyers have gone more upmarket. More rolex and pam been flipped and 're-flipped' in recent times. You talk to merchants; pick up a GMT n let go a Sub. Pick up a Datejust n let go the Gmt. Moving the numbers, like money changer.

Lately the seiko craze has started. Now I heard there is going to be a JLC gtg. Who knows, we have an uptick in these 2 brands.

Probably w the proliferation of more merchants, individual sales may have dipped. But I think the sum of parts should have increased markedly, for the bigger brands, at least.

Swiss export to Asia hasnt come down. Maybe certain months a blip. Overall still pointing North

Thats my opinion.

Rgds
Sm

[dpkong]

I think there are a few notorious enablers on this forum. I've only been a Rolex fan before I joined. Now, getting infected with the likes of GS, JLC, ALS, AP and even PP.

... must ...  find a way.... to get banned....


 

[terrenceterrence]

i thought global slowdown, especially in the far east is because of the Bo Xilai case

[sm]

hi all,

QE 3 or 4 or 100 fueling the world w cheap funds; interest near 0; dow at '07 high; asia property booming. Fund managers are getting excited incl warren buffet. Except homefront maybe, w the uncertainty in GE13.

There maybe a broad increase in prices swiss make. Except for some brands where its been over-produced the last 2-3 years. If our mkt remain laggard, the pre-owned & new stock will swing abroad.

Like cosmetics & bags, watches are international goods. Very price elastic.

Good time to buy- when you have the bullets and the irresistible urge.

my opinion
thanks!
sm