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Main Forums => General Discussion - Modern Watches => Topic started by: sidestreaker on January 15, 2015, 10:59:36 PM

Title: Swiss franc soars as Switzerland abandons euro cap
Post by: sidestreaker on January 15, 2015, 10:59:36 PM: Will prices of Swiss watches increase dramatically soon with the new currency exchange? Will this year be a tough one for watchmakers? How would this impact second hand watches value?

Read all about it here:

http://www.bbc.com/news/business-30829917

What are your thoughts?
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: meoramri on January 16, 2015, 06:00:04 AM: Luxury item is very price inelastic - following economic theory - even if price goes up, demand remains relatively intact.

Unfortunately, I am not in the income bracket that can just ignore such increases. If it happens, will focus more on German and Japanese watches.
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: Timeless on January 20, 2015, 06:24:57 AM: Looks like the watches price gonna increase tremendously before/after gst
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: JeepWH on January 20, 2015, 07:07:55 AM: Swiss watch prices going up already.

Was having tea with a local distributor says that new pricelist in already for the watches. New batch import all expensive by 10-20% already.
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: chrisyen on January 20, 2015, 07:33:13 AM: price up for sure...

with GST soon to be implemented...

i will say 10-15% at least !
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: JeepWH on January 20, 2015, 03:00:25 PM: Quote from: chrisyen on January 20, 2015, 07:33:13 AM
price up for sure...

with GST soon to be implemented...

i will say 10-15% at least !

There's some discussions by certain distributors where they absorb the 6% GST for the time being. Nothing concrete yet, but thats the status for now.
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: davidtth on January 20, 2015, 03:16:12 PM: Singapore happen last Sunday, ppl rush to buy rolex one of the hour glass outlet sold 30 Rolex in a single day... :o ;D :o

here the link to news

http://www.straitstimes.com/news/singapore/more-singapore-stories/story/rolexes-snapped-singapore-prices-climb-20150120
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: JeepWH on January 20, 2015, 03:18:34 PM: Quote from: davidtth on January 20, 2015, 03:16:12 PM
Singapore happen last Sunday, ppl rush to buy rolex one of the hour glass outlet sold 30 Rolex in a single day... :o ;D :o

Whatt :o :o :o :o

Really ah, OMG
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: khairain on January 20, 2015, 05:56:36 PM: Yup.. My AD told me yesterday Rolex confirm going up in price next month...
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: Yoda on January 21, 2015, 05:14:10 AM: Saw in today The Star

reported in Japan too will increase price of Rolex

Patek Phillipe considering increasing too.

Rolex - good investment :thumbsup:
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: contender on January 21, 2015, 06:30:15 AM: Well I read on the Financial Edge daily today .... news brief quote "Rolexes snapped up in Singapore, flew off the shelves over the weekend Hour Glass over at Raffles Hotel beach some 30 Rolexes were sold on Sunday alone and have been quite right for stocks."

What about our here back in KL ? Anyone of you guys snapping up as well .... am surprised that AD or grey dealers have not increase price yet.
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: JeepWH on January 21, 2015, 06:49:08 AM: Quote from: Yoda on January 21, 2015, 05:14:10 AM
Saw in today The Star

reported in Japan too will increase price of Rolex

Patek Phillipe considering increasing too.

Rolex - good investment :thumbsup:

If PP increase, less ppl can afford liao.

Rolex is reaally a good investment
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: Narco on January 23, 2015, 03:21:15 PM: There goes my Rolex..
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: r3kahsttub on January 26, 2015, 11:46:32 AM: Went to an AD over the weekend, to my surprise, I was not allowed to enter. The place was full and swarming; had to wait about 10 mins for some people to leave before I was allowed to enter. Pic below shows general section only; all seats in Rolex area were taken, including the lounge area. People waiting to go to counter to browse.

(http://img.photobucket.com/albums/v319/buttshak3r/Mobile%20Uploads/493CD3A7-25D6-4056-B2A8-816C0469DC55_zpsi4tehnm3.jpg)

Only Rolex and Omega seemed to be popular with the patrons, with some interest in Hublot. My other AD told me Frank Muller also saw some pieces get sold. For Rolex, pretty much all entry Sub and GMTs sold out. I was told that this AD sold 43 pieces on just Friday alone; this is their typical monthly target. All salesperson look stressed out, having so many people in-store!
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: sidestreaker on January 26, 2015, 02:15:14 PM: Wow, that's quite interesting, seeing how the market reacts to this.

Anyone in the forum here amongst the crowd ;D ;D ;D ?

@r3kahsttub- what did you get :)
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: contender on January 26, 2015, 02:46:33 PM: Well not surprising anyway it's basics .... the window of opportunity before huge jump in prices ..... any mention about the % of increase ? Similar to Swiss Franc rise ? so 30% up in prices ??
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: r3kahsttub on January 26, 2015, 02:54:41 PM: I wasn't there to buy anything; just enabling two friends pick up a watch before the Big Price Increase. One walked away with a red Black Bay, the other with a 005 :-) I did strap on a Unico on my wrist (they only had the gold model left, the rest had sold!) and found that it absolutely does not fit me! Not even on the smaller 45mm case!

As for price increase, my salesperson are saying about 30-50%. Might just be speculative BS, but I personally think 30% is not out of question :( My 2015 plans are completely disrupted now.
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: kenji1903 on January 26, 2015, 09:21:39 PM: looks like the THG Gardens? they finally have stock for the 005? ;D
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: rahkshi007 on January 27, 2015, 07:47:51 AM: Now swiss franc is stabilized.. Euro 4.23, Swiss Franc 4.28. Will the price of Swiss watch increase this year before GST ? ???
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: hidden830726 on January 27, 2015, 08:46:52 AM: Price increase is 100%, seller will take the chance to increase since swiss franc soared is a better reason to hike price than gst.
Title: Re: Swiss franc soars as Switzerland abandons euro cap
Post by: khairain on February 10, 2015, 08:25:34 PM: good news patek drop price by 11% effective today. My Ad inform me earlier.. ;D