article to read

[Beck]

Interesting. Tks.

[Marksim]

Thanks for sharing

[Oceanklassik]

Just reported hours ago:

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

Wonder if the other big watch brands will follow suit?

[ernie88]

Thanka for sharing!

[Oceanklassik]

Man alleges prospective buyer stole Rolex watch

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

65861E04-C8AB-47F8-A90A-34BFE0AA5D98.jpg

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

[triton]

the straits times used the correct term - alleges.

more importantly, it goes on to show that many singaporeans are very trusting people.

it is also mentioned somewhere that the owner of the watch is about to use the proceeds from the sale of the watch to buy a property.

[ATTACH=CONFIG]14736[/ATTACH]

[Oceanklassik]

the straits times used the correct term - alleges.

more importantly, it goes on to show that many singaporeans are very trusting people.

it is also mentioned somewhere that the owner of the watch is about to use the proceeds from the sale of the watch to buy a property.

What are you trying to say?

[Oceanklassik]

The Straits Times Life! Style, Friday - January 26, 2018

Luxury watches move online

A8303F4B-1539-4629-97BC-309E9BC59219.jpg

BASEL * Time does not stand still for those who sell watches.

So even as Richemont has built a conglomerate offering the world's wealthiest consumers the highest-quality product, often in the most luxurious of settings, the hour has come for it to make changes to tick strongly again.

It used to be that clients walking into a Cartier flagship or a Piaget boutique - both Richemont brands - could expect radiant smiles and impeccable service, with time being no object to perusing the wares on sale. Increasingly, though, well-heeled clients do not want that type of service. Cash-rich, time-starved, customers want their shopping to be done in a matter of seconds from their smartphones.

Richemont, which also owns upscale brands such as IWC, Montblanc and Van Cleef & Arpels, knows that times are changing. The Swiss luxury group has announced that it is doubling down on investments in high-end Internet retail, making an offer of about US$3.4 billion (S$4.5 billion) for online fashion retailer Yoox Net-a-Porter.

The surprise bid was a significant about-face in Richemont's strategy and an acknowledgement that wealthy consumers are increasingly comfortable buying an expensive watch with a click rather than a trip to an upscale store.

Personal luxury goods had been slower than other retails items to migrate online, but their Web sales rose 24 per cent last year, according to a study by Bain & Co. It also estimated that online sales of such products would account for 25 per cent of the market by 2025, compared with 9 per cent now.

Richemont, which was already restructuring how it sold its watch and jewellery brands, clearly hopes to capitalize on that growth. It is offering to buy the Yoox Net-a-Porter stock that it does not already own at a 25.6 per cent premium to the closing price last Friday. Yoox and Net-a-Porter merged in an all-share deal three years ago. At the time, Richemont was Net-a-Porter's controlling shareholder, and still holds about 25 per cent of the combined company.

Yoox Net-a-Porter owns and operates online retailers Net-a-Porter, Mr Porter, The Outnet and Yoox. It also operates e-commerce sites for more than 30 luxury brands, including Stella McCartney, Dolce & Gabbana and Chloe.

"Richemont aims to provide additional resources that further strengthen and accelerate YNAP's long-term leadership in online luxury," Mr Frederico Marchetti, Yoox Net-a-Porter's chief executive, said. "This means investing even more in product, technology, logistics, people and marketing."

With much speculation over the death of retail, the steady decline of department stores and the looming threat of online giants like Amazon, one bright spot in the shopping landscape has been businesses such as Yoox Net-a-Porter - high-end, multibrand e-commerce companies that have attained sky-high valuations.

Moda Operandi, the luxury online retailer based in New York, raised US$165 million in its latest round of funding in December, just a few months after Apax Partners bought a majority stake in London-based Matchesfashion.com, which had a valuation of roughly US$1 billion.

In May, LVMH Moet Hennessy Louis Vuitton, the world's largest luxury group, made its own foray into the sector with the boutique shopping website and mobile app 24 Sevres.

Just weeks later, however, Conde Nast closed Style.com, its own high-stakes experiment in online fashion retail, a lesson to companies such as Richemont that even the most reputable names in fashion can struggle if they arrive late to the game. But time waits for no one in the race to stay alive and Richemont has put money on the table.

- NYTIMES

[Oceanklassik]

Watch fair ticking along well

214CE7E2-82D9-4345-A666-CFE2115546A3.jpg

The mood was upbeat at the Salon International de la Haute Horlogerie, with the industry showing recovery from the slump

There was a common gripe among journalists and retailers attending the Salon International de la Haute Horlogerie (SIHH) in Geneva last week: It was not easy to grab lunch. Although there were many stations offering free drinks and servings of lobster bisque and "Japanese ravioli" (gyoza), empty seats were hard to come by.

There was no such problem in the last couple of years at the annual watch fair, one of the two most important (the other being BaselWorld) in the Swiss watchmaking calendar. The reason? This year's event attracted some 20,000 visitors, 4,000 more than last year.

Many pundits attribute this to a recovery in the industry which has been dogged by a slump in the last few years. Indeed, figures appear to bear this out. According to the Federation of the Swiss Watch Industry, Swiss watch exports last November were 6.3 per cent higher than the same month in 2016. Exports for the first 11 months of 2017 were also 2.8 per cent higher than the same period in 2016.

There were other indicators. Share prices for watch conglomerates such as Richemont and Swatch grew by double digits in the past year. Sales for independent luxury watch brand Audemars Piguet rose 12 per cent to hit nearly one billion Swiss francs last year.

It explains why CEO Francois-Henry Bennahmias was in such a jolly mood at SIHH 2018, gifting journalists who asked "good" questions with bottles of champagne as the company unveiled its new collection and novelties for the year, including Royal Oak RD#2, the world's thinnest self-winding perpetual calendar.

The number of exhibitors at this year's SIHH - the 28th edition - has also increased. There were 35 exhibitors who took up 30,000 sq m of booth space this year, compared to last year's 30. One of the latest, and most famous, newcomers was Hermes.

The mood at the Palexpo, a cavernous convention centre where the annual SIHH is held, was buoyant. Exhibitors tried to outdo one another with elaborate booths. Piaget's was decked out like a seaside resort; Ulysee Nardin even had a "boudoir" decked out with fox's masks and handcuffs to display its X-rated watch Classic Voyeur which featured naked figures locked in coital embrace.

Adding to the glitz were watch ambassadors, who are well-known actors. Piaget brought in Ryan Reynolds, Jaeger-LeCoultre had Benedict Cumberbatch while Montblanc trotted out Hugh Jackman and new Chinese ambassador Yang Yang.

The star attractions, of course, were the watches. Exhibiting brands pulled out all the stops. The trends which have hogged the limelight for the last few years, as brands grappled with a downturn brought on by economic disruptions and shifts in consumer spending, were still there. For instance, Vacheron Constantin, Baume & Mercier, Panerai and Jaeger-LeCoultre all launched solid new lines of more affordably priced timepieces.

But perhaps indicating that a recovery is on the cards, more brands unveiled technologically innovative watches. Richard Mille, for instance, showed off its RM 053-01, designed for Argentinean world champion polo player Pablo Mac Donough, which boasts a laminated sapphire crystal that can weather heavy blows, a world first.

The Straits Times looks at some of the most exciting timepieces unveiled at the show.

526E7FDF-DE21-479B-8DED-8B7AB49CF23C.jpg

[triton]

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.

What are you trying to say?

[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?

[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

[ATTACH=CONFIG]14736[/ATTACH]

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

23A72B5B-F6A0-487B-A5FF-68A4C9FC0DEE.jpg

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]

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.

6EEEA04F-EEAD-4807-B8D2-4FD03296CEC1.jpg
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.

E3CBE998-0DBD-4481-B488-E6FFEACB3C47.jpg
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]

4332C2C7-603B-409E-B9A5-CAB74293A542.jpg
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.

7D0F1A7D-46A7-4E32-BD22-328A02C4802F.jpg
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]

527231B8-C2F7-487D-8163-7476B4131FC7.jpg
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.

BAFE4C4E-589E-4373-B269-3A7ECC1DF5E6.jpg
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