NOL to slash 1,000 jobs to combat industry downturn

[R-oyster]

Have you heard the lastest piece of bad news...more job losses (no income), pay cut (reduction in disposable income)...which in turn translate into less
purchasing power for watches.

No wonder then that daytonas, submariners, sea-dwellers, milgausses are not moving, and more and more sellers of seikos are coming to the fore to satisfy
our constant urge to collect.

Really, got to tighten belt and shift mindset to buying less expensive things.
Agree?

[Oceanklassik]

Yes n No. Yes to te poor n nt so rich. No to those who r rich n getting richer..hahaha

[Hary]

some industries benefit from crisis. My customer selling cling film for food wrap is happy because now more people keep their left over food. In crisis there is always opportunities

[Mille]

those who might be affected, just remember to save and save.
cash is still king at the end of the day, not watch.

[lkh007]

hi hi .. 1 of the member here from NOL ...

Anyway, My seagull is on the way...

[feilong108]

hmm....true...nowadays Cash is king....many rare watches are starting to become available....and the prices are going down too.....even for pre-owned shops

[R-oyster]

I dont know how Rolex prices are going to be affected.

One guy I know bought a Frank Muller perpetual 18WG listed at around 80K for around 50K (30% discount). Got retrenched, and sold to pre-owned market for around 25K. Lost half the value.

Preowned shop is offering watch at about 30K.

There are quality watches around, quality shares abound, but alas given uncertainty, not much courage around, lah.

[R-oyster]

hi hi .. 1 of the member here from NOL ...

Anyway, My seagull is on the way...

Don't worry: only about 50 in Singapore to be cut. In Singapore, they cannot
cut so much, otherwise NOL stands for "No One Left". In US, they are mainly from APL (Angmo Paid Largest) and thus affected.


.

[ohlins]

my contact at one AD told me.......

before crisis: ADs need to contact distributors to order stock....

now: distributors are calling ADs..... u wanna order stock?

the market and demand are much softer right now.....