article to read

[triton]

why rolex is still better than every other watch brand

do you agree that rolex is better?

click here to read the article

[Oceanklassik]

Just reported hours ago:

http://www.businesstimes.com.sg/cons...es-second-hand

Wonder if the other big watch brands will follow suit?

another version of luxury watch brand entering resale market published by ST

click here to read it

Posted on 19 Jan liao

[triton]

another version of luxury watch brand entering resale market published by ST

click here to read it

[Oceanklassik]

Straits Times Life!, Friday, February 23, 2018



Pre-owned timepieces a growing business

With growing competition from online retailers, watchmakers are exploring selling used timepieces to avoid losing out to third-party dealers

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About four years ago, Mr Maximilian Busser, founder of the boutique watch brand MB&F, bought his wife a 1970s Rolex Air-King for US$2,500 on the website Chrono24.

When it arrived, he was dismayed (though perhaps not shocked) to learn that he had been conned.

“The crown was not original, the dial was not original, the case was not original and the glass was not even glass, but a piece of Plexi glued to it,“ Mr Busser recalled.

“Buying a pre-owned or vintage timepiece is extremely risky business. Most brands have turned their backs on the market and left it in the hands of a lot of individuals who are not to be trusted. It’s time to reclaim it.”

Come summer, the brand will do just that, when its website begins selling pre-owned MB&F timepieces offered mostly by customers. Mr Busser emphasised that the models will be limited editions no longer available at retail “because I don’t want my retailers to think I’m competing with them”.

His announcement is likely to prompt some soul-searching among watch executives.

Unlike car manufacturers, which maintain networks of “certified pre-owned” dealers, watchmakers have long neglected the second-hand market, fearing both its strategic and logistical challenges.

Spurred by growing competition from a new, more trusted breed of online retailers, however, the Swiss houses have reached an inflection point in their relationship with used timepieces: regulate their distribution and sale or lose out to third-party dealers.

Mr Aurel Bacs, the auctioneer who leads Phillips’ watch department through his consulting firm, Bacs & Russo, cited the example of someone buying a 20-year-old watch by Vacheron Constantin or Patek Philippe “from the Internet”.

“The brands don’t stand behind it because it hasn’t gone through their workshops; they can’t be happy about it,” Mr Bacs said. “Every watch that doesn’t satisfy the owner doesn’t reflect well on their brand.”

More important, industry experts say that every time a consumer sells or trades a fine watch – a phenomenon that happens with increasing regularity as a result of the information and price transparency now available online – the wearer’s next watch purchase is more likely to benefit the dealer that facilitated the transaction rather than the brand that manufactured the timepiece.

“If you can create a certified secondary market, then it’s going to change a lot of the dynamic in the grey market,” said Mr Edouard Meylan, chief executive of the boutique Swiss brand H. Moser & Cie, which plans to start selling certified pre-owned models on its website this year.

Mr Jean-Claude Biver, president of the LVMH watch division and chief executive of Tag Heuer, said that the topic of pre-owned sales had preoccupied him over the past year. But he added that the brand’s first priority must be mastering e-commerce because the pre-owned business “will be run mostly through online”.

He said: “I’m 100 per cent sure we will do it. But i cannot tell you when.”

Mr Wilhelm Schmid, chief executive of A. Lange & Sohne, has been working on the second-hand sale issue for 2.5 years.

“I know in depth the challenges,” added the former BMW executive. “Cash flow, mark-ups, residual value, platforms to re-sell it. And on top of that, you have to run your normal business. We are prepared to jump on it if necessary. But at the moment, I’d clearly label this as important, but not urgent.”

The lack of urgency owes something to the fact that the second-hand market appears to be working reasonably well without the brands’ explicit involvement. Thanks to the proliferation of trustworthy websites specialising in pre-owned merchandise – including “never worn” models that come directly from brands’ overstock – people already have outlets to buy and sell used timepieces.

Last November, for example, saw the debut of WatchBox, a global e-commerce platform for buying, selling and trading pre-owned luxury watches that is backed by CMIA Capital Partners, a Singapore-based private equity firm.

Equipped with sophisticated pricing algorithms, and teams of in-house watchmakers, these e-tailers say it is only a matter of time before brands recognise the sites as allies in the pre-owned watch business.

Mr Tirath Kamdar founded the pre-owned watch and jewellery site TrueFacet in 2014. With the help of Mr Andrew Block, a former Tourneau executive who was named president of TrueFacet last June, he is working hard to convince Swiss brands that the secondary market will not cannibalise new watch sales.

Instead, he said, it will grow their brands’ perceived value, especially among recycling-obsessed millenials. Mr Kamdar said: “The younger generation who has money – they’re not looking to shop the same way their grandparents did. They’re looking to buy pre-owned, not new”.

Last May, British watchmaker Bremont teamed with the pre-owned watch e-tailer Crown & Caliber for what they called a first-of-its-kind pilot programme. For a month, consumers could use the website to exchange any of their timepieces, regardless of brand, for cash or for a store credit at the Bremont boutique in New York.

“It came about because a lot of people are trading our limited editions,” said Mr Giles English, co-founder of Bremont.

“Ideally, they’d like to go into our boutique and buy a second-hand watch. So we talked to Crown & Caliber about formalising something.”

Although the trial was a success, Mr English said, it was just a test as the obstacles to a permanent second-hand business are considerable. “Everyone is walking on eggshells because they don’t want to upset their retail chain,” he said.

An even thornier issue, especially for brands guilty of overproducing inventory, is resolving their watches’ poor performance in secondary channels. As Mr Bacs said: “The absolute bitter truth is that some watches are selling above retail and some are selling at a fraction of retail – maybe 20 per cent of the retail price – after five years. No manufacturer wants to tell that to its owner.”

He said of the secondary market: “If a brand gets it right in today’s market, meaning they don’t lose money, they have revolutionised the landscape.”

- NYTIMES


Victoria Gomelsky

[Oceanklassik]

Not for me.

[triton]

will you be keen on such a collaboration between rolex and supreme?

click here to read the article

[Oceanklassik]

ahhhhh.....maybe ROLEX isn't too keen

[triton]

birth place?

protecting the crown?

What is it with ROLEX that is more appropriate?

[Oceanklassik]

What is it with ROLEX that is more appropriate?

[triton]

click here to read about tudor latest limited edition to 75 pieces

it is a pity that the tie up is not with rolex which would have been more appropriate IMHO

[Oceanklassik]

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JAEGER-LECOULTRE POLARIS COLLECTION

This collection boasts five models: a three-hand automatic, a chronograph, a chronograph world time, an automatic with date and a Memovox diver's alarm watch. The last model, an update of the Polaris Memovox from the late 1960s, is the collection's pillar and the most heralded.

A rare sports range from the brand, the Polaris collection mixes the modern and vintage in a handsome body featuring dials with contrasting finishes, faceted lugs, large hands coated in Super-LumiNova and indices with a trapezoidal shape. Prices range from $10,600 to $36,500.

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BAUME & MERCIER CLIFTON BAUMATIC

This watch got a lot of people excited at the SIHH and for good reason. Many of the features - such as the silicon escapement and balance spring - are usually found in watches with more sophisticated complications and much heftier price tags.

It is also certified by the Controle Officiel Suisse des Chronometres for accuracy and performance. Only 3 per cent of Swiss watch production boasts such certification. The Clifton Baumatic has an impressive five-day power reserve and needs to be serviced only every five years. Prices range from $3,800 to $4,750.

- Wong Kim Hoh in Geneva

[Oceanklassik]

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PANERAI LUMINOR LOGO

This collection, to be released in April, is eagerly awaited for two reasons - the entry-level prices and the fact that the entire collection is powered by in-house movements. There are two iterations: the Base model and the small-seconds Luminor Marina. Both have a diameter of 44mm and are powered by the manual-wind Calibre P.6000, with a balance wheel which is secured by a full bridge. Besides the usual black, the dial is also available in white. Beige LumiNova, a photo-luminescent material, is used in the hands and hour markers.

If you want a change from the usual leather straps, opt for the new fabric ones which come in blue or grey. Prices start at $6,750.

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VACHERON CONSTANTIN FIFTYSIX COLLECTION

This is one of the most affordable collections from Vacheron Constantin, which, together with Patek Philippe and Audemars Piguet, is known as the Holy Trinity of the Swiss luxury watch industry. A reworking of the historical model from the 1950s, the FiftySix collection comes with a 40mm case and faceted lugs and is available in pink gold or steel. There are three models - a day date, a complete calendar and a three-hand automatic. While contemporary looking, it retains a cool 1950s vibe, with a sector dial, fetching Arabic numerals and luminous indexes.

Prices start at $17,100 for the self-winding model in steel and go up to $52,400 for the complete calendar in rose gold.

[con’t...]

[Oceanklassik]

Straits Times Life! - Friday, February 9, 2018

Best buys for junior collectors

Keep a watch on these entry-level offerings at the Salon International de la Haute Horlogerie

Each year, hundreds of watches make their debut at the Salon International de la Haute Horlogerie (SIHH) in Geneva, one of the two most important trade fairs - the other being Baselworld - in the watchmaking calendar. Some create a splash, others provoke barely a whimper.

Among the new SIHH releases which generated buzz last month were the Clifton Baumatic by Baume & Mercier and the FiftySix collection from Vacheron Constantin. The Clifton Baumatic is interesting because it features the brand's first in-house calibre, developed with expertise from the Richemont Group. The movement comes with features usually seen in more complicated timepieces, including a silicon escapement, a balance spring as well as a power reserve of five days. The watch's biggest attraction, however, is its price. Similar watches with such horological muscle usually cost five figures - the Clifton Baumatic, however, is priced between $3,800 and $4,750.

Similarly, Vacheron Constantin's FiftySix collection - priced between $17,100 and $52,400 - intrigued many because of its pricing. This makes it the cheapest in the brand's stable, almost half the price of most of its entry-level offerings.

Luxe watch brands have been moderating their prices in the last couple of years to battle a market made lethargic by difficult economic conditions, the falling Swiss franc and China's war against corruption.

There is another reason why watchmakers from IWC to Piaget are focusing on providing better value - to reel in younger buyers. At last month's SIHH, IWC launched its Jubilee Collection, which includes cheaper chronographs, to celebrate its 150th anniversary. Ditto Cartier with new iterations of its classic Santos watch, as well as Jaeger-LeCoultre with its new Polaris collection.

Mr Tom Chng, founder of the Singapore Watch Club, says the trend is good for consumers and watch lovers. "Brands which many thought of as out of reach are now slightly more accessible. Consumers can expect to see better value for money."

He adds: "It's a good move to capture more junior collectors, luring them into the brand and keeping them as fans early on in their horological journey."

Here are some interesting entry-level offerings at the SIHH this year.

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MONTBLANC 1858 COLLECTION

The watchmaker unveiled three different collections at the SIHH, but the most attention grabbing is the 1858 collection. Taking its cue from the vintage Minerva pocket watches and chronographs from the 1920s and 1930s, the range includes the 1858 Automatic; 1858 Automatic Chronograph; 1858 Geosphere; 1858 Monopusher Chronograph Limited Edition 100; and 1858 Pocket Watch Limited Edition 100.

Inspired by the rugged outdoors, in particular mountain-climbing and hiking, the collection is built to be hardy, with features including anti-glare crystals and compasses. The Geosphere, for instance, is a world time watch, but, at $8,300, it costs a lot less than most world time watches. Other models in the collection are priced between $3,960 and $103,100.

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HERMES CARRE H

Eight years after this square-cased watch made its debut, the Carre H, designed by French designer and architect Marc Berthier, gets a snazzy makeover. It is now housed in a bigger stainless steel case (38mm x 38mm vs the original 36.5mm x 36.5mm), with an angled guilloche dial and faceted hands and numerals. A lot of thought has gone into the timepiece's proportion and symmetry - the square case is balanced by the rounded corners and curved case. It also boasts a different movement - the H1912 calibre, which operates at 28,800 vibrations an hour and boasts a power reserve of 50 hours.

Just as one would expect from a fashion powerhouse, the Carre H comes with an elegant Barenia calfskin strap. The watch retails for $11,330.

[con’t...]

[Oceanklassik]

An update of the case

Man alleges prospective buyer stole Rolex watch

$35,000 watch listed on Carousell said to have been swopped for fake one at meet-up

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A property agent thought he was about to clinch a deal on his $35,000 Rolex watch with an interested buyer after listing it on online marketplace Carousell. But he later found out that the watch appeared to have been swopped for a fake one during a meeting with a buyer.

The 30-year-old man, who gave his name as Mr Tang Guoxian, told Chinese-language newspaper Shin Min Daily News yesterday that he had planned to use the money from the sale of the watch to buy a house with his fiancee. He has since made a police report about the alleged theft.

The police, in response to queries, confirmed that a report has been lodged and investigations are ongoing. Chinese-language newspaper Lianhe Wanbao reported that the watch was worth $35,000. Mr Tang told the newspaper that he was an active Carousell user and would often list Rolex and Panerai watches for sale.

He told Shin Min that the buyer had contacted him on Tuesday at about 5.45pm. As he was busy at the time, he told his fiancee to meet the buyer at the void deck of his Boon Keng Road home with the watch.

"After looking at the watch, (the buyer) said that he needed some time to consider and then left in a hurry," Mr Tang said.

He added that the buyer had insisted on placing the watch back into its box, and his fiancee did not think too much of his request. However, when he returned home later that night, he realised that the colour of the watch appeared different and that it also felt lighter. When he realised that he might have been cheated, he tried to contact the buyer but to no avail. He said the buyer has since shut all his social media accounts.

Determined to track him down, he went online and found the man's home address and mobile number. At the address, he met the buyer's mother at the door. When she heard that her son may be involved in the theft, the woman apologised to Mr Tang and even went on her knees to plead for forgiveness, according to Shin Min.

A man, who claimed to be the buyer's father, told Shin Min yesterday that he was shocked to hear of the case. He said: "My son is a good person. My family is disappointed to hear of the claims made against him."

- by Ng Huiwen

Two accused of stealing Rolex after sleight of hand

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Posing as interested buyer of a Rolex watch, two men allegedly swopped the genuine timepiece with a fake copy before fleeing. But not for long.

Yesterday, Jim Bradley Misso Wen Ping, 20, and Joshua Chua Yongcheng, 24, were each charged with one count of stealing the Rolex GMT Master 2 watch worth $29,500 from property agent Thomas Tong Guo Xian at around 9.15pm on Jan 22. Mr Tong, 30, had advertised the watch for sale on the online marketplace Carousell in October last year.

According to earlier reports, he had planned to use the proceeds to buy a home with his fiancee. Police said in a statement on Wednesday that the two young men contacted Mr Tong to view the watch. The pair then went to Mr Tong's Upper Boon Keng Road flat.

The police added: "The victim facilitated the request and handed the watch to the suspects for viewing. It is believed that the genuine Rolex watch was replaced with an imitation version by one of the suspects before it was handed back to the victim."

Court papers did not reveal who allegedly replaced the watch. Mr Tong alerted the police the next day. Officers from Bedok Police Division managed to track down Misso and Chua through the aid of security camera footage and extensive ground inquiries.

The pair were arrested on Tuesday at the Tuas Checkpoint and police said that the genuine Rolex has been recovered. They were each offered bail of $10,000 yesterday and will be back in court next Thursday.

If convicted of theft, they can each be jailed for up to three years and fined.

- by Shaffiq Alkhatib

[Oceanklassik]

in the latest development of this saga, the person who lodge the police report now say someone hacked the alleged accused account. more interestingly, the fiancée now cannot correctly identify the original accused. it is more interesting to note that the fiancee's phone is said to be hacked via someone else locking the phone with another password while inside the police station.

hack here hack there, someone forgets that if really want to check, authorities can just seized the computers and mobille phones involved and do a digital forensics and see what has been done. but only question is does the relevant authorities want to go that far. if go that far, i fear consequences.


there is more than it meets the eye. if you still cannot read in between the lines, call me.

... I didn't know of such development ... wonder if the development has been reported in the media?