Post by: roystock on July 06, 2015, 10:03:08 PM
My hands are getting itchy and I visited some ADs and pre-owned shops a few days back.
I was shocked to find out that prices are now at least 15% higher versus Jan 2015.
While a rising price is understandable, in view of the 6% GST and weakening Ringgit, the quantum is, in my view out of whack. Especially considering the weaker economic environment (Malaysia as well as China, the biggest watch buyers)
I find it very difficult to convince myself to spend at least 15% more to buy the same item which I can get for a cheaper price barely 3 months back. This, and the fact that I can now buy any shares (Malaysia or HK-listed companies) 10-20% cheaper (vs 3 months ago) suggest that I should put my money in shares instead.
I think it will take me a long time to gestate the recent price hikes, how about you? Buying anything soon?
Post by: farhanbh100 on July 06, 2015, 11:21:56 PM
tax/cost goes up 5% (e.g), theyl increase price by 15%.
one of contributors of Malaysias economic turmoil..
Post by: mikeylacroix on July 07, 2015, 08:23:32 AM
Post by: hanz079 on July 07, 2015, 08:52:53 AM
That's why buying watches nowadays is about making calculated choices... No more impulse buys....
Post by: G.MAC on July 07, 2015, 10:34:50 AM
Post by: Timeless on July 07, 2015, 06:05:33 PM
Post by: hidden830726 on July 07, 2015, 07:19:59 PM
Post by: roystock on July 07, 2015, 08:15:49 PM
Prices online also not helping with our currency like this....
Exactly. Buying online will not spare us from the weakening Ringgit.
Not to mention that Fedex / DHL packages will most likely attract custom's attention
Seems like trade-in and top-up is the way to go (provided I have some less desire pieces to let go)
Post by: theseira on July 08, 2015, 07:06:02 AM
Post by: kygan711 on July 08, 2015, 01:33:40 PM
USD was 3.0/3.1 some months back and now 3.8.
22% percent up.
Plus GST 28%. So bulk is due to exchange rate I believe.
Post by: deriku on July 08, 2015, 02:08:57 PM
Perhaps need some time to see if current prices can sustain, but looking at the economy I have my doubts.
Post by: theseira on July 10, 2015, 07:04:55 AM
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Post by: hidden830726 on July 12, 2015, 12:36:37 PM
But who knows, sometimes.... cannot resist.
Post by: EvolutionZ on July 12, 2015, 08:51:32 PM
price is really different now - need to do more homework.
Post by: jason_recliner on July 13, 2015, 05:35:26 AM
Post by: ivanpei on July 13, 2015, 06:39:45 AM
Post by: theseira on July 13, 2015, 06:52:34 AM
Was at a Rolex AD last weekend in Bukit Bintang. Stainless steel and two tone models zero % discount. Solid gold has discount only. Stainless steel sports staples like Sub, GMT, Daytona all not "in stock". Only Explorer II, Datejust etc were available for sale. Went to grey/2nd hand dealers at Time Square, was shocked at the price. RM depreciation, Swiss franc up, price revision and GST have really pushed up prices. According to the dealers prices from Rolex to dealers now do not have as much discount, hence they are unable to give discounts to customers as well.
I checked a grey dealer in Johor also same experience as you. Daytona no stock, they got sub, GMT, sea dweller, all very expensive and no discount.
Post by: kygan711 on July 13, 2015, 07:39:14 AM
Post by: CKL1213 on July 13, 2015, 07:49:20 AM
Until the day I have the courage to do so again...
Post by: beachboyng on July 13, 2015, 04:02:58 PM
Post by: hidden830726 on July 14, 2015, 05:02:32 AM
1) Earn more money
2) Dont buy watch
3) Buy lesser watch
4) Go rob the watch shop (pun intended)
Post by: CKL1213 on July 14, 2015, 07:15:37 AM
Post by: hidden830726 on July 14, 2015, 05:28:02 PM
the culprits are GST and weaken RMLuckily u didnt point to the source.
But personally I think for this hobby, its about earning more money to buy watch. Thats the motivation.
So, screw the weakend RM and GST. It will not stop the craze.
Post by: Everdying on July 14, 2015, 05:31:36 PM
Post by: hidden830726 on July 14, 2015, 06:27:48 PM
buy europeanU mean buy from Europe? E.g. German? Not cheap also X4. And the price going up and up.
Wait ur the same Everdying at lyn?
Post by: Everdying on July 15, 2015, 07:31:44 AM
buy europeanU mean buy from Europe? E.g. German? Not cheap also X4. And the price going up and up.
Wait ur the same Everdying at lyn?
isnt the euro dropping again? my friend working in europe hasnt send back any money to parents for 2 months already due to weaker exchange rate.
yea same lyn.
Post by: hidden830726 on July 15, 2015, 08:01:08 AM
Post by: Everdying on July 15, 2015, 08:07:52 AM
I didnt track but I assume, eur drop and rm drop so, ultimately still no diff...
hmm nm.
not like i'll be buying anything big in the near future...only got 1 target...that one can wait :P
Post by: kenji1903 on July 15, 2015, 08:56:44 AM
I didnt track but I assume, eur drop and rm drop so, ultimately still no diff...i'm tracking, should have bought around May when it was around MYR3.90+ to EUR1 ;D
Post by: theseira on July 16, 2015, 01:05:29 PM
Before when I was in highschool 1 SGD was about 2.10 Ringgit today its like 1 SGD = RM2.78!
I guess watches can be used as a currency hedge since Malaysia ringgit is weak.
Post by: hidden830726 on July 17, 2015, 11:01:10 AM
Economy is messed up. Malaysia currency getting lower and lower every year! 1 SGD bound to be RM3.
Before when I was in highschool 1 SGD was about 2.10 Ringgit today its like 1 SGD = RM2.78!
I guess watches can be used as a currency hedge since Malaysia ringgit is weak.
Actually if we earn USD or SGD then we will be laughing instead of QQ.
Sad
Post by: chrisyen on July 21, 2015, 09:22:41 AM
Economy is messed up. Malaysia currency getting lower and lower every year! 1 SGD bound to be RM3.
Before when I was in highschool 1 SGD was about 2.10 Ringgit today its like 1 SGD = RM2.78!
I guess watches can be used as a currency hedge since Malaysia ringgit is weak.
u r young....
some gone though
RM1 = sgd 1.1
my time SGD 1 = RM1.5
Post by: CKL1213 on July 21, 2015, 02:55:10 PM
I will hit toto jackpot.
Everything are well planned.
Just waiting the fund.
Post by: Yoda on July 21, 2015, 03:01:34 PM
I always believed in myself.
I will hit toto jackpot.
Everything are well planned.
Just waiting the fund.
Bro,
Its only 5pm ;D
Post by: CKL1213 on July 21, 2015, 03:08:47 PM
Seriously when I hit it.
Even I'm not the richest in Msia, I will be the most lansi guy in Msia.
Post by: hidden830726 on August 07, 2015, 10:39:45 PM
Post by: chrisyen on August 10, 2015, 08:26:19 AM
price will go up further !
Post by: Yoda on August 10, 2015, 09:13:23 AM
If you buy now price is high, economy is bad, business affected badly, employment retrench.
AD will have to slash price to induce buying get more incentives or discount from the Swiss HQ.
Then only come out and look see look see ;D
Post by: kingpin on August 10, 2015, 10:19:29 AM
Alternatively don't buy any watch for the year until the Ringgit stabilize.
If you buy now price is high, economy is bad, business affected badly, employment retrench.
AD will have to slash price to induce buying get more incentives or discount from the Swiss HQ.
Then only come out and look see look see ;D
Totally agreed.....
But I cant say I am looking forward. If this is the situation.... We all are impacted, and seriously if you have money also dont dare to buy watch. Sigh.... PM ah PM, MY ah MY. what have you done!!!
Post by: @tsw@ on August 10, 2015, 02:39:52 PM
Based on current pre-owed prices, most of the watches bought before gst and still with manufacturer warranty have not depreciated much.
In fact it surprised me when a friend recently showed his ap15400 (blue dial)preowed I-series. Bought in Singapore for rm44k. This piece was sold by ap at a lower price brand new abt 3 1/2 years back.
Thinking back, how times have changed within this 3 1/2 years.
Don't forsee it to improve. :Blue:
Post by: r3kahsttub on August 10, 2015, 02:58:45 PM
Post by: Kesharoo on August 11, 2015, 09:17:44 AM
I am thinking of consolidating as well, I would probably sell some of my nicer pieces and gain some decent Forex, keep until RM strengthens...lets see how it goes....
Post by: roystock on August 11, 2015, 08:53:51 PM
Alternatively don't buy any watch for the year until the Ringgit stabilize.
If you buy now price is high, economy is bad, business affected badly, employment retrench.
AD will have to slash price to induce buying get more incentives or discount from the Swiss HQ.
Then only come out and look see look see ;D
I have been waiting for the retailers to give more reasonable prices, given the weak sentiment.
I am sure they have some stocks where they brought in when forex was US$1 : RM3.30 - 3.50.
Just give a good discount and I may probably bite, but I don't see this happening yet. :-\
Post by: theseira on August 13, 2015, 08:20:58 PM
Hi,
I am thinking of consolidating as well, I would probably sell some of my nicer pieces and gain some decent Forex, keep until RM strengthens...lets see how it goes....
Man the way things are and how the country is run it looks like Malaysian Ringgit outlook is bad. Chances are the watch will be worth more than the RM in the long run.
Post by: theseira on August 18, 2015, 09:00:03 AM
Post by: theseira on August 24, 2015, 05:23:36 PM
(http://images.tapatalk-cdn.com/15/08/24/35b313e8bce1b2e32aa9603b7f283edf.jpg)
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Post by: Spider boy on August 24, 2015, 09:21:37 PM
Post by: hanz079 on August 24, 2015, 09:21:52 PM
Brands that have adjusted the pricing couple of months back cannot keep up with the fast declining of the ringgit.
Watch prices in Malaysia is currently looking pretty good in the grand scheme of things.
Say if I were to walk into an AD to pick up a Submariner at rm28k retail... that's usd6600...
And the same watch is suppose to be selling at usd8550 retail... in today's exchange rate... thats a whopping RM36200!!
In the last couple of months. as far as I know, Zenith, IWC, JLC, AP have revised their pricing.
Even as of now, their prices is still a steal in comparisons to their US or even Singapore counterparts.
Now coming 1st sept, AP and Cartier will revise their pricing.
What if the ringgit continue to tumble to 4.7 or 4.8 or even 5 in the next three months?
By the time the watch brands decide to revise the prices, many ppl would have walked away feeling they got a good deal.
Post by: chrisyen on August 25, 2015, 08:02:23 AM
if you want to buy
buy now ! ringgit falling further... msia bcom cheapest !
Post by: alphaz on August 25, 2015, 10:03:37 AM
With the ringgit nosediving and the somewhat slow responses from watch brands with the price adjustments.
Brands that have adjusted the pricing couple of months back cannot keep up with the fast declining of the ringgit.
Watch prices in Malaysia is currently looking pretty good in the grand scheme of things.
Say if I were to walk into an AD to pick up a Submariner at rm28k retail... that's usd6600...
And the same watch is suppose to be selling at usd8550 retail... in today's exchange rate... thats a whopping RM36200!!
In the last couple of months. as far as I know, Zenith, IWC, JLC, AP have revised their pricing.
Even as of now, their prices is still a steal in comparisons to their US or even Singapore counterparts.
Now coming 1st sept, AP and Cartier will revise their pricing.
What if the ringgit continue to tumble to 4.7 or 4.8 or even 5 in the next three months?
By the time the watch brands decide to revise the prices, many ppl would have walked away feeling they got a good deal.
+1 agreed with you
Post by: theseira on August 25, 2015, 01:36:41 PM
With the ringgit nosediving and the somewhat slow responses from watch brands with the price adjustments.
Brands that have adjusted the pricing couple of months back cannot keep up with the fast declining of the ringgit.
Watch prices in Malaysia is currently looking pretty good in the grand scheme of things.
Say if I were to walk into an AD to pick up a Submariner at rm28k retail... that's usd6600...
And the same watch is suppose to be selling at usd8550 retail... in today's exchange rate... thats a whopping RM36200!!
In the last couple of months. as far as I know, Zenith, IWC, JLC, AP have revised their pricing.
Even as of now, their prices is still a steal in comparisons to their US or even Singapore counterparts.
Now coming 1st sept, AP and Cartier will revise their pricing.
What if the ringgit continue to tumble to 4.7 or 4.8 or even 5 in the next three months?
By the time the watch brands decide to revise the prices, many ppl would have walked away feeling they got a good deal.
Very good point! yes bargains to be had here but what if your stocked up with RM!!
Post by: Friedrice on September 01, 2015, 01:36:37 PM
It has been 3 months since the implementation of GST, and coincidently 3 months since my last watch purchase. :)
My hands are getting itchy and I visited some ADs and pre-owned shops a few days back.
I was shocked to find out that prices are now at least 15% higher versus Jan 2015.
While a rising price is understandable, in view of the 6% GST and weakening Ringgit, the quantum is, in my view out of whack. Especially considering the weaker economic environment (Malaysia as well as China, the biggest watch buyers)
I find it very difficult to convince myself to spend at least 15% more to buy the same item which I can get for a cheaper price barely 3 months back. This, and the fact that I can now buy any shares (Malaysia or HK-listed companies) 10-20% cheaper (vs 3 months ago) suggest that I should put my money in shares instead.
I think it will take me a long time to gestate the recent price hikes, how about you? Buying anything soon?
+1. Pulled the trigger on a Sub C Date as I missed my old one. And had to pay 30k for one! :Startled:
Post by: Yoda on September 02, 2015, 06:53:37 AM
Post by: Friedrice on September 02, 2015, 06:29:03 PM
Ouuch that's really hurt. 3 years ago I saw someone mentioned its only about 3 quarter of the price you get and now has shot up so much. Its better than FD saving definitely
Yup. They are charging a premium of 1500 ringgit on top of MSRP for Sub C Date.
According to the salesperson in the boutique, the Singaporeans and Mainland Chinese are invading our shores for cheap watches.. Weak ringgit coupled with the additional 6% discount when they leave the country.. :Startled:
Post by: pexus on September 02, 2015, 08:22:55 PM
Last I visited few weeks ago, a local AD had sub and subdate at rrp. Probably all gone by now.
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Post by: chrisyen on September 03, 2015, 09:29:29 AM
Ringgit will not recover to previous level in coming yrs
Watch price especially popular brand and models will not come down for that even ringgit climb back
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Post by: Cwlwatch on September 03, 2015, 09:46:02 AM
Just like fuel prices up many thing will came up
Fuel prices down everything prices remain ???
Post by: ck77 on September 03, 2015, 09:48:55 AM