Reply With QuoteBuy right and they're possibly the cheapest form of watch ownership!
You could say that anyone who pays more than £100 for a watch is buying the marketing hype associated with it. So by that criteria (and I'd include myself here) we're all paying too much, unless you're a Casio fan of course!
Oh, and just for the record, I'm not 'dissing' Casio they're great bits of kit!
Buy right and they're possibly the cheapest form of watch ownership!
I'm not a big fan of Louis Veblen luggage myself.Originally Posted by J J Carter
Yeah. And they're often kind enough to give you money back after you've owned them for ages.
You don't get that kind of service anywhere else, apart from Patek.
Or bags of crisps!!!! Lucky if there's 6 crisps in a bag these days
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No jokes about the hofleverancier, please.
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Sainsbury's do a range of crisps that has 50% less fat and or calories than a regular bag of crisps... because they have 50% less crisps than a standard packed at 2x the cost.
I think they were doing the rounds about late 70s early 80s
Not a long production run for some reason.
The Texan Bar was of the same era.
Star bars were quite similar and I had a bit of a weakness for those too.
My bar of choice these days is a Picnic .
Is this a bit off TOPIC
Last edited by Hood; 25th July 2017 at 00:06.
Low fat crisps / empty bag. That's genius
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No kidding..
http://news.sky.com/story/shrinkflat...-same-10959646'Shrinkflation': 2,529 products are now smaller but cost the same
More than 2,500 products have shrunk in size over the past five years, but are being sold for the same price, official new figures show.
It is not just chocolate bars that are affected by the so-called "shrinkflation" phenomenon, according to the Office for National Statistics (ONS).
Toilet rolls, coffee and fruit juice are among the 2,529 goods that are also getting smaller without getting any cheaper.
While the move has had little impact on the headline rate of inflation, the change in packet size has contributed 1.22 percentage points to the rate of inflation for products such as sugar, jam, syrups, chocolate and confectionary.
The ONS said most manufacturers blamed the need to resize their products on rising raw material costs.
Fas est ab hoste doceri
No such thing as an over priced luxury item.
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Best post I've read this week.
Excellent thought !
When will people learn?
These kind of things are magnets for lawless types who will rob you - a bit like a post apocalyptic future in which you venture outside into the nuclear ravaged landscape with a loaf of bread and your pretty daughter.
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Last edited by Velorum; 25th July 2017 at 08:45.
Where's Bob Fraser when you need him?
Simon
Good call Adrian, on my phone we're up to 12 pages already...
I predict 14 pages
Simon
Page 3 on mine (but I have as many posts per page displayed as poss).
Even with the major derailment, I suspect it will run for a while.
Any thread with "Rolex" in the title always does.
Are Rolex overpriced? Yes.
Are they alone in this? No.
M.
If you think Rolex are overpriced, stop moaning and buy something else - easy peasy.
But then how will one show off the fact that one wishes to appear considerably richer than everyone else?!
If you are skint, you are skint, so stop trying to pretend you ain't
Following on from my previous post and taking this seriously for a moment... It is similar to the London property market in terms of high supply and low demand of eg Daytonas, which are then bought by speculators. However it's not like this for luxury watches in general as there's actually a glut of oversupply of large, blingy watches, possibly designed with foreign markets in mind during a phase of aggressive expansion.
This oversupply hasn't lead to the fire sales some expected though, with brands buying back stock and soldiering on without reducing prices. The only notable casualty has been Eterna. Then again, perhaps it is like London after all, with an oversupply of blingy luxury appartments intended for foreign investors, who could suddenly drop them if they don't turn out to beat other investments, causing a huge glut of supply and a crash. There have been whispered stories of considerable discounts on new builds, but again no sudden market correction.
It's also worth wondering how long CHF can continue to be a 'safe haven' currency following the credit crunch and concerns about the Euro due to Greece etc? We've all got used to watches costing twice what they used to, and CHF continues to trade at that level as long as this continues to work. But if that glut of watches leads to some genuine big name casualties and profit warnings in the luxury groups, because in the long run people actually don't want to spend £5k on a Selitta in a well marketed case, can that continue indefinitely or will it revert to historical levels? As with London high rise luxury flats, could CHF suddenly not look so attractive as a safe haven, causing a market correction to the price of all watches? I don't know enough about finance to answer this question, but in both property and watches, the price to earnings ratio is historically high, and yet the system staggers on due to high demand, low interest rates, and a willingness to pay prices that would have seemed absurd only a few years ago.
Right, now back to chocolate bars, which are suffering from shrinkflation. Perhaps these two discussions will collide at some point?
I think 20 years ago, your average Rolex collector would make do with 3 or 4 whereas today they want at least a dozen and this alone increases demand. If you buy the watch for enjoyment, then you will be fine, if you buy it as an investment, you are taking a risk and if it all goes belly up, you have only got yourself to blame.
You know it's risk free if your AD wants to hold on to the warranty card for six months.
Fas est ab hoste doceri
No it isn't. It's a privately owned business with one shareholder, the Wilsdorf foundation, which happens to be a charity
It is overpriced for sure, but you can get most of your money back when selling, unlike most luxury brands.
Not saying it 'will' happen, but I can see prices coming down a ton 20+ years later, in relation to spending power at that time.
Many youngsters I know are not interested in watches let alone a Rolex at those prices. Maybe I'll buy my first Rolex then lol!
The property market in NI suffered more than most regions in the mid noughties bubble. The price to earnings ratio was at a ridiculous level.
The development where I bought my first house was, in relation to my then job, about 4.5 times my annual salary. At the peak it was 15 times for that same job. The crash was life changing for many people, some of whom will never recover their financial position. The market has recovered in some sectors but there are people who will never escape negative equity.
Whilst high end watches are indeed luxury items I feel there could be parallels to the property market, and maybe parallels to the classic car market which peaked and crashed some years ago.
Whilst classic cars are surging in price like classic watches, markets do tend to be cyclical, so I would not spend money that I didn't need elsewhere on a watch.
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Not to mention Freddo bars...!!
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Rolex is clearly a brand of gifted marketeers.
Still, I don't like their products (except perhaps some very vintage offerings) and as such I never owned and probably never will buy a Rolex.
To me the price just isn't justified by what you get for it. However, they clearly have a big fanbase and those fans clearly have a different opinion, which is perfectly OK with me.
The speed with which Chomp bars went from 23p to 30p was dismaying.
10p man. 10p.
But Kardashians??
My first post... here goes nothing... As someone who has always been a fan of watches but is fairly new to the world of understanding and being able to fully appreciate what it is that really goes into luxury watchmaking I have (like many people before me I'm sure) very quickly realised how my lack of millions in the bank will forever be a frustration as I discover a new watch I wish I could afford to buy every other day/week/month. But on the other side of that coin though, none of this frustration would drive me to buy a fake. For me a fake watch is something you buy to show people. For a watch enthusiast there is no enjoyment in a fake watch. There is no satisfaction knowing you have worked hard or saved or sold other pieces in order to buy the current holy grail you now so proudly wear. I guess when you look at it pragmatically many luxury watches are most probably 'over priced'. But that's half the fun. Obtaining something not 'just anyone' can go out and buy or for many buying something that is most probably not something we should be able to justify buying is a part of what makes buying a luxury watch what it is for watch enthusiasts.... or at least that's what I think.
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They are shrewd manipulators of the market, but the upside to that - is that you can buy something 'aspirational' which will retain most, if not all - of its purchase price over the long-term.
(with the usual caveat - that watches in general, and high-quality watches specifically - continue to adorn wrists - in an age where lots of upcoming generations eschew watches)
This is exactly why I have stopped buying watches, despite an enduring and lifelong interest, and have switch to my other cheaper hobbies (mostly pens) as I can indulge these more, and honestly they give me more pleasure. I just feel that the cost doesn't match the value any more for me.
Back between 2009-2013, my watch hobby peaked and it was affordable to buy and sell all the time, and I tried many many watches, but now the price is just too much to justify, the losses to great, the waiting lists too long and it's all just too much.
Are Rolex overpriced?
Not if you can afford them, yes if you can't.
Other subjective values may apply.
Welcome to the forum. It's true that we want what we can't have, and perhaps we need these 'achievement awards' to measure our progress. In this sense, perhaps the market insist that there are watches at ever increasing price points, in quantities that enforce certain levels of exclusivity, as they meet a need. I must admit I've treated myself to the odd watch as motivation and a kind of medal for completing a particular project, or indeed decade.
I'd still be more than happy for the Royal Oak extra thin aka 15202ST to cost half the price it currently does though, and I'd be proud enough to wear one regardless! I really don't need it to cost more to qualify as a grail, but for other, wealthier individuals perhaps that would be far too achievable and so insufficiently desirable. Because the design, history and quality is capable of operating on this level of exclusivity, that's where it ends up. So could the new Daytona apparently, for as long as supply remains limited, but Rolex are kind enough to make more and sell them for less, their business model is partly about mass production in the end.
If you just happen to like watches, the design and horology, then the socio-economic baggage around the price can be frustrating. Much as you just like the watch, you can't buy one without to some extent buying into it. We may not want to, but at the same time it's seductive, and the price does at times make the watch shine a little brighter.
That's a statement that's worth a whole topic discussion on its own! Yes, nothing can be over priced if the target market can be persuaded to pay for it, but on the other hand, you could say that a 'luxury' (however defined) item is over priced by definition, in that you pay a lot for little more function!
A key chain that sells around 300 USD or a Mobile Phone that sells well over 20k USD...and people still buy them.
As the question goes; why buy a Monet if you can buy an island?
Luxury items are not about products anymore but ideas/ concept.
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Disagree.
I can easily buy a number of Rolexes, but I won't as I deem the value for money too low.
There are - in my opinion - more interesting, special, watches to be had at better prices.
I am not looking at the resale value, as I don't buy watches to sell them...
Probably are overpriced.
Back in the day you could buy a sub for a shedload of Mars bars.
Now you need at least two shedloads.
Mars bars aren't what they were though...
Yeah, but if you kept that bag for 5 years you'd get your money and cupboard space rental back when you flip it.
There is no doubt they are overpriced for what you "get" But for some people they are worth the high cost.
The luxury model for watches is really the only place they can go I think, the functionality of them is made redundant by phones and smartwatches so the only angle they have is the romantic notions of craftsmanship and exclusivity, how long that card can be played profitably I don't know, perhaps indefinitely for some brands but I see a future with a lot less "luxury" brands.
Have you seen the recent Gucci paperclip that sells for £150 !
Cheers..
Jase
Easy, one has a Porsche, Ferrari, Tricker shoes, £300 jeans, a Belstaff Jacket, a FO House in London, etc, etc.
The simple fact remains that many Rolex owners owning a Rolex makes good financial sense, if you can afford the initial outlay. If you can't (or won't) than that's your problem not theirs
Whoever does not know how to hit the nail on the head should be asked not to hit it at all.
Friedrich Nietzsche
I predict a riot.
I predict 14 pages
Overpriced? For me very expensive, but not overpriced otherwise I wouldn't be looking at getting one... Sometime
Popular SS Rolexes, like the Nautilus, are highly priced, they are not overpriced as the secondary market clearly demonstrates, quite the opposite in fact.
I hope we do agree, it's just you are applying your subjective values to their price. Like someone said earlier in the thread, it's a philosophical conundrum. :)
Rolex have a premium product that's in demand, they are the volume player in the luxury watch market. Rolex probably sell more units per year than their next 5 competitors put together. They will increase the price each year in excess of inflation until such a time when it hurts sales. In the meanwhile the used prices continue to be dragged up against the new price and the perception of being an "investment" continues.
Its a fantastic strategy and from a business perspective it makes perfect sense.
Are they overpriced ? not if the market will pay it and sales are growing you could say they have judged the price correctly......
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