How on earth the Ming watch is getting so expensive?

[Cocas]

Any shifu have any ideas when and how Ming watch is getting so expensive now?

[Caseywai]

I am also keen to know. Did the prices shoot up due to desirability?


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[strinq]

I think it definitely is. There is a demand for it and they always sold out their earlier models.
So I think they decided to capitalize on it. Only the highest end from their catalogue now are still available. 

[Cocas]

I strongly believe Ming watch is using Ferrari marketing gimmick: "one less".

Always produce one car less than the market demand.

[Varma8]

Possible it’s their supply demand tactic
Nonetheless, I think their watches definitely have a certain appeal. The design and craftsmanship definitely feels worth the rrp.
And being featured in hodinkee and other watch sites boosted them up and not to forget our own Mwf

[chenht]

I wonder how many they actually sold.

[G.MAC]

Scalpers. Easier for buyers to stop this practice for this brand due to their limited production numbers than say Rolex for example. If dealers or sellers are selling and no one is paying premium for them, it will stop eventually.

[Spider boy]

I have yet to see the real watch yet , but according to my friends , they like it and they do collect the pieces stating that it's a value for money . I've heard something like , every new model they produced will be more expensive than their previous models. And at very limited amount and those who buy it will rarely sell them .

[dennis.T]

their early batch is worth to collect... i thk the demand start to rise after they got the 2019 GPHG awards... and now they start doing limited edition watch which i feel is like start milking the customer... 

[Adzrienn]

With that price i rather buy a different watch

[dpkong]

With that price i rather buy a different watch

when people start off with watches, they buy the well known brands for "resale value" and maybe also limited funds.

as you get older and have more liquidity and you already own a lot of "investment" watches, then you start looking at brands like these and begin to admire and value them for what they are....

[Cocas]

The latest 18.01 H41 launched last night at 9pm Msia time.

I timed how fast it was sold out this time. This time it's less than 7minutes.   

[Cocas]

I have this LE Blue dial  MING.

Its value now shoots up more than double.


I start understand why people says you can buy any Rxxxx if you rich enough but not the special small production run independent watch brands.

[bane]

This is a beautiful piece. Ming is making malaysia proud.
Having said that, I didn’t like the 18.01 h41 yesterday. Hope they go back to the original design that was so sought after.


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[Potential_Highlight]

The founder was on record saying they purposely kept the supply low, in order to boost the value of the watches

They are literally playing the artificial scarcity game


“The profit is thin because we use high-quality components to manufacture our watches. We also put a cap on the number of each product sold to retain their value. We made a promise to our customers and we are following through on it,” says Ming.

Source:
https://www.theedgemarkets.com/article/entrepreneurship-taking-swiss

He went on to say, they knew they can easily sell another 3,000 pieces

They just chose not to produce and sell another 3,000 pieces, in order to "maintain the value" of the watch

Basically creating artificial scarcity

[dennis.T]

All is marketing plot... I will say good try... is not that I dnt support local but given that price point we got a lot of choices

[hteng]

hyped up by youtubers.

[pleasuresaurus]

Good marketing strategy on their part la. Increased hype and erceived value, artificial scarcity, youtuber virality. Even Aventi watches also pretty much doing similar stuff, although personally I think the A11 is a far more interesting piece than any Ming.

[memphisto]

The real question is can the hype and demand sustain? 

[dpkong]

The real question is can the hype and demand sustain?

if the numbers are really low, it's possible

[memphisto]

Personally I really hope this designer brand can gain traction concur the niche market. I will be a proud and Happy Malaysian

[shzrn]

This is the same business model as Supreme, keep the supply low, get some well known faces rocking them. Hypebeast much?

[dennis.T]

This is the same business model as Supreme, keep the supply low, get some well known faces rocking them. Hypebeast much?

this is not good example... the good example is Richard Mille...rare and expensive 

[shzrn]

This is the same business model as Supreme, keep the supply low, get some well known faces rocking them. Hypebeast much?

this is not good example... the good example is Richard Mille...rare and expensive 

Same same but different. Hype and perceived exclusivity drive the market.

[Potential_Highlight]

The real question is can the hype and demand sustain?

It's basically like a pyramid scheme

The success of this strategy depends on one thing - continuously expanding the base

The moment there isn't anymore fresh meat that can be added to the base, the whole thing collapses

So as long as they can keep the secondary market strong, by convincing people to seek out and buy their watches, the whole thing will keep chugging along like a nice little train

In the end, like all pyramid schemes, those who got in early and cashed out early will be the ones to profit. You don't want to be the last batch of buyers, holding onto the watches once the hype train has died down