article to read

[Courage]

I watched a Youtube video from Watchuwant, in which Josh recommended watch buyers to look at the current exit price of watch they are buying. Deduct this exit price from the purchase price to derive the "losses" buyers can "stomach" from buying this watch and then to live with it.

For instance, if a Rolex costs $10,000 after discount. The current price people are willing to buy in the 2nd hand market is $8,000 on average. Hence, $10,000 less $8,000 (=$2,000) is the amount you lose by buying this Rolex.

Josh decides to purchase his watches based on weighing the "loss" amount instead of the $10,000 cost $10,000. Anyone also buys in this manner too?

[Oceanklassik]

But sometime, just sometime, when you know you gonna hold on to the watch for a very long time etc, the feeling when inside AD shop, looking and buying the watch is damn good!

Seriously, whenever I make a watch purchase, I would often (if not always) tell myself to "hold the watch for a very long time". Whether it happens or not, is another story. And of course, the feeling when you have the money and loitering inside a watch shop (AD or otherwise), would definitely be good.

[ed44]

Agree, especially so when it is a new watch.

But sometime, just sometime, when you know you gonna hold on to the watch for a very long time etc, the feeling when inside AD shop, looking and buying the watch is damn good!

[Oceanklassik]

I think it's not wise to buy any timepiece with the anticipation of value appreciation.

Most watches lose a chunk of their value as soon as you leave the boutique.

Agree, especially so when it is a new watch.

[Courage]

I think it's not wise to buy any timepiece with the anticipation of value appreciation.

Most watches lose a chunk of their value as soon as you leave the boutique.

[Oceanklassik]

Today's Life! article in the Straits Times

Hot watches from Baselworld

New technology, re-issues and competitive prices take the spotlight

The luxury watch industry has not been thinking quite so smoothly in the last couple of years. Swiss watch exports, for instance, tumbled nearly 10 per cent last year compared with 2015.

Among the reasons for the sluggishness? Smart watches gaining ground in the battle of the wrists; China's clampdown on corruption putting a brake on exuberant and conspicuous gifting; and a generally less-than-perky global economy.

Watchmakers are starting to react to the threat to their survival. This was evident at this year's Baselworld, which took place in March. Many of the attention-grabbing pieces at the world's biggest and most important horological trade show boast good looks, muscular materials, practical functions, advanced technology and, more importantly, competitive prices.

Some pay homage to the past. Others celebrate the illustrious craft of watchmaking. All build the case that nothing defines personal style better than a solidly constructed timepiece.

Here is a selection of head-turners at this year's Baselworld.

[triton]

which brands appreciate in value, read it here

[triton]

​i dont agree with some of the points and mentioned in the article. the flow of points/comments creates misunderstanding


not all rolex, patek philippe and audemars piguet models hold their value well. hence buyers have to be aware.

as i have always mentioned, do your homework before buying especially preown pieces because one must be mindful that the path to a pre-owned watch can be littered with pitfalls as mentioned.

never never - abide my the maxim "buy the seller"

as buyers, one should always be worried about the authenticity and scratches. if you abide by "buy the seller" and bought a franken watch and want to sell later, you will be in trouble. scratches if light is acceptable but not deep scratches if buying from used pieces.

Not all watches depreciate in value. Several brands such as Rolex, Patek Philippe and Audemars Piguet hold their value well. Some, such as limited editions or out-of-production models, can be highly sought after and fetch even higher prices. In fact, many pre-owned watch enthusiasts are collectors on the hunt for hard-to-come-by pieces.

Mr Fazlon, for instance, buys only models he likes and which he knows will hold their value. "You have to do your homework. Some years back, I managed to get a Panerai PAM 1BT. I paid $12,000, now it's worth $17,000," said the fitness trainer and co-founder of Energia Fitness gym. That is because the 1BT used tritium - a radioactive isotope which changes colour over time - as a luminous marker for its dials. Because of its rarity and the changing patina of the dials, this model is now highly sought after.

Buy only from authorized or reputable dealers or someone you know and trust," advises Mr Fazlon. He scrupulously reads all he can about pieces he is interested in, compares prices, studies the service history, looks out for dents and scratches and insists on proper boxes and papers

But before rushing out to get a bargain, one must be mindful that the path to a pre-owned watch can be littered with pitfalls. It pays, for instance, to abide my the maxim "buy the seller".

"I also don't want to worry about authenticity and warranty, and whether there are scratches.


- by Wong Kim Hoh

[Oceanklassik]

Today's Straits Times Life!

Luxury watches for less

The pre-owned luxury watch market is booming, thanks in part to the Internet and social media



A couple of years ago, Mr Mohamed Fazlon shelled out $30,000 for a mint-condition Hublot Big Bang 18k Rose Gold watch. It saved the 42-year-old gym owner more than $10,000 compared to if he had bought one brand new.

"If you are smart and you know your watches, you can save as much as 25 per cent on a piece," says the watch collector, who has bought and sold more than a dozen pre-owned timepieces - from a Panerai PAM 190 to a Rolex Daytona Paul Newman Solid Gold - in the last two decades.

Buyers like him are the reason why the market for pre-owned luxury watches in Singapore is hale and hearty. In addition to scores of pawnshops, there are more than 20 outfits selling such watches here. The choices become very dizzying when one includes specialist international websites such as chrono24 and JamesEdition.com, e-commerce giants such as Amazon as well as classified ads platforms such as Craiglist and eBay.

The boom is driven by several factors, chief among which is the Internet and the rise of social media. Facebook and Instagram have fuelled not just the visibility of such watches, but also fanned aspirations to own them.

There are two segments to the pre-owned luxury watch market: relatively new models and vintage watches - timepieces pre-dating 1990 or even earlier. Mr Sam Cheng, who runs Watchlink, which deals in new and pre-owned watches in Far East Plaza, said his clients come from all walks of life.

"They range from bankers and housing agents to hawkers and contractors," adds the 55-year-old, who has been in the trade for more than a decade. He declines to reveal sales figures, but says that business has increased at least 30 per cent compared to five years ago. Many of his customers are drawn by the savings, and do not mind that the timepieces have previous owners.

Over the last decade, Mr Ho Xiao Yen has bought a few pre-owned watches, including a Franck Muller Casablanca 10th anniversary edition and an IWC Big Pilot. The 43-year-old communications specialist said: "When the economy was buoyant, a lot of people bought luxury watches and seldom wore them. You can find quite a few on the resale market which are in mint condition."

Mr Cheng says: "Buying a pre-owned watch is like buying a second-hand car. You don't have to take the first knock, someone has taken it for you and you will be saving quite a bit of money."

In fact, many of his clients own several timepieces. When they see something new, they often sell a piece from their collection to help pay for the purchase. An added attraction is the buy-back guarantee offered by some dealers such as Chuan Watch at Golden Landmark. Its director Nick Lim, 26, tells The Straits Times: "Before customers commit to the purchase, they roughly know what they can expect back. For watches above $5,000, we guarantee 80 per cent of the purchase price if they sell it back to us within two years, provided it's in good condition, of course."

Not all watches depreciate in value. Several brands such as Rolex, Patek Philippe and Audemars Piguet hold their value well. Some, such as limited editions or out-of-production models, can be highly sought after and fetch even higher prices. In fact, many pre-owned watch enthusiasts are collectors on the hunt for hard-to-come-by pieces.

Mr Fazlon, for instance, buys only models he likes and which he knows will hold their value. "You have to do your homework. Some years back, I managed to get a Panerai PAM 1BT. I paid $12,000, now it's worth $17,000," said the fitness trainer and co-founder of Energia Fitness gym. That is because the 1BT used tritium - a radioactive isotope which changes colour over time - as a luminous marker for its dials. Because of its rarity and the changing patina of the dials, this model is now highly sought after.

But before rushing out to get a bargain, one must be mindful that the path to a pre-owned watch can be littered with pitfalls. It pays, for instance, to abide my the maxim "buy the seller".

"Buy only from authorized or reputable dealers or someone you know and trust," advises Mr Fazlon. He scrupulously reads all he can about pieces he is interested in, compares prices, studies the service history, looks out for dents and scratches and insists on proper boxes and papers.

"If you are not sure, tell the dealer you want to send the watch to a service centre and that the deal is on only if everything is in order," he says. It is sensible advice, especially if one is buying a vintage piece, since unscrupulous dealers have been known to replace parts with wrong, old or fake ones.

Mr Cheng says: "You don't want to end up with a Frankenstein of a watch, with too many modified parts."

Buyers should also bear in mind that authorized service centres have the right to compound their watch and call in the authorities if it is found to have been stolen or procured through illegal means. Many luxury watch brands keep a list of missing timepieces as a service to their customers.

Swiss watchmaker Montres Breguet states clearly on its website that it "does not take a position as to the proprietary rights of timepieces" on their list. These risks are reasons why some watch fans do not venture into the pre-owned market.

Mr Bernard Oh, 51, owns several luxury watches, including IWC and Graham models, which he purchased new from licensed retailers. The founder of AMC Asia!, a marketing and events group, says: "I'm a businessman and I'm superstitious. I don't like the idea of buying a watch which may have been worn by a bankrupt or someone in financial trouble.

"I also don't want to worry about authenticity and warranty, and whether there are scratches. Anyway, I always make sure I get a discount when I buy my watches." But whether one is buying a luxury watch brand new or pre-owned, Chuan Watch's Mr Lim says the purchase should not be driven by impulse or the hope that it will increase in value.

"Sure, you'd want one which has a resale value, but you should really buy a watch because you want it. And you should buy one that suits your character and your personality. You should buy a watch because you want to wear it. Buying it for any other reason is defeating the purpose."

- by Wong Kim Hoh

[ssangg]

Good read...

[triton]

a legend that commands 3.7 million, read it here

[triton]

another independent watch brand - breitling is sold...read all about it here

[fi3ryicy]

IIRC the letter only meant for SG AD.

i have never heard and experience of any other country's AD selling their watches above RRP even in Russia

singapore's market is too small already..

add in tourist, and u get a lot of people wanting rolex...

[triton]

for the second year in a row, rolex has topped the list of most reputable companies. read it here

[Ryuden]

Yeah the letter was targeted only to SG AD's...and was hot news when it came up in the ST.

Don't think only SG AD's are changing premiums, overseas AD's as well and well reported in international forums yet they didn't get any letter from Rolex.

However, they have stricter procedures when it comes to warranty issues. Rolex demand to see the receipt of purchase before any warranty works can be done. Fortunately here, we don't need to produced the receipt of purchase.

From the way I see it, international ADs selling at retail, goes to grey and resold to consumers, warranty have issue as Rolex won't honor it without proof of purchased and usually buying from grey dealers surely no receipt of purchase.

Here, Rolex demand to only sell at retail, ADs hold on to stocks and find all means and ways to get it sold at profits.

Different countries/continents have different regulation from Rolex I guessed.

Bottom line is, the Crown is trying to get consumers to go direct to them and not third party.