Author Topic: Rising prices: Is it just me or the prices are simply out of whack? (Read 17098 times)

roystock · « **on:** July 06, 2015, 10:03:08 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?

farhanbh100 · « **Reply #1 on:** July 06, 2015, 11:21:56 PM »

typical malaysian entrepreneurs/bizman...

tax/cost goes up 5% (e.g), theyl increase price by 15%.

one of contributors of Malaysias economic turmoil..

mikeylacroix · « **Reply #2 on:** July 07, 2015, 08:23:32 AM »

i tend to buy online/used anyways

hanz079 · « **Reply #3 on:** July 07, 2015, 08:52:53 AM »

Yes I do agree that prices are getting ridiculous...
That's why buying watches nowadays is about making calculated choices... No more impulse buys....

G.MAC · « **Reply #4 on:** July 07, 2015, 10:34:50 AM »

Prices are getting ridiculous hence I adopt the trade-in and top-up method.

Timeless · « **Reply #5 on:** July 07, 2015, 06:05:33 PM »

Sad to say but this is the current business trend..

hidden830726 · « **Reply #6 on:** July 07, 2015, 07:19:59 PM »

Prices online also not helping with our currency like this....

roystock · « **Reply #7 on:** July 07, 2015, 08:15:49 PM »

Quote from: hidden830726 on July 07, 2015, 07:19:59 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)

theseira · « **Reply #8 on:** July 08, 2015, 07:06:02 AM »

Yeah prices are insane now. The GST is just wrong.

kygan711 · « **Reply #9 on:** July 08, 2015, 01:33:40 PM »

I dont think it's entirely the GST unless the watches you are targetting are made in Malaysia.

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.

deriku · « **Reply #10 on:** July 08, 2015, 02:08:57 PM »

I remember a chat with a watch trader during CNY this year. Basically they had expected the price hike to happen, mainly due to price adjustment of new watches as well as GST implementation.

Perhaps need some time to see if current prices can sustain, but looking at the economy I have my doubts.

theseira · « **Reply #11 on:** July 10, 2015, 07:04:55 AM »

Economy is crap now, GFC 2 on the way maybe. Perhaps watch prices will come down once the Portugal, Italy and Spain follow Greece and default on their loans. Meanwhile Malaysian currency will remain weak as usual. No surprises there.

Sent from my iPhone using Tapatalk

hidden830726 · « **Reply #12 on:** July 12, 2015, 12:36:37 PM »

Im holding back my wallet for now. Really no reason to go Gungho now. Its not like i have no watches to wear at all.

But who knows, sometimes.... cannot resist.

EvolutionZ · « **Reply #13 on:** July 12, 2015, 08:51:32 PM »

correct me if i am wrong, price from AD are sometime cheaper than the independent importer.
price is really different now - need to do more homework.

jason_recliner · « **Reply #14 on:** July 13, 2015, 05:35:26 AM »

I think used prices are starting to come down a little, at least in US$ terms. Of course, the Australian dollar has fallen so much in the last year that importing pretty much anything has become more expensive, regardless of price fluctuations.

ivanpei · « **Reply #15 on:** July 13, 2015, 06:39:45 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.

theseira · « **Reply #16 on:** July 13, 2015, 06:52:34 AM »

Quote from: ivanpei on July 13, 2015, 06:39:45 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.

kygan711 · « **Reply #17 on:** July 13, 2015, 07:39:14 AM »

Looks like this will push up a more vibrant pre own market !

CKL1213 · « **Reply #18 on:** July 13, 2015, 07:49:20 AM »

I don't even dare to step foot into watch shops after GST

Until the day I have the courage to do so again...

beachboyng · « **Reply #19 on:** July 13, 2015, 04:02:58 PM »

after GST... when step in the shop... all the watch price increase....

hidden830726 · « **Reply #20 on:** July 14, 2015, 05:02:32 AM »

So, whats the solution?

1) Earn more money
2) Dont buy watch
3) Buy lesser watch
4) Go rob the watch shop (pun intended)

CKL1213 · « **Reply #21 on:** July 14, 2015, 07:15:37 AM »

the culprits are GST and weaken RM

hidden830726 · « **Reply #22 on:** July 14, 2015, 05:28:02 PM »

Quote from: CKL1213 on July 14, 2015, 07:15:37 AM

the culprits are GST and weaken RM

Luckily 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.

Everdying · « **Reply #23 on:** July 14, 2015, 05:31:36 PM »

buy european

hidden830726 · « **Reply #24 on:** July 14, 2015, 06:27:48 PM »

Quote from: Everdying on July 14, 2015, 05:31:36 PM

buy european

U 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?

News:

Author Topic: Rising prices: Is it just me or the prices are simply out of whack? (Read 17098 times)