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Thread: Omega and Patek Price Increase Coming

  1. #1

    Omega and Patek Price Increase Coming

    Rumour is a price rise increase due for both brands.

  2. #2
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    Omega sure is getting pricy...

    I was never in the wage category to consider a Patek so their changes affect me less :D

  3. #3
    Master jukeboxs's Avatar
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    Patek price increase was confirmed on 1 April, c4% increase from 1 June.

  4. #4

    Omega and Patek Price Increase Coming

    i am supprised that their increases are not just straight up to grey market prices +\- They leave a lot of value on the table at the AD lol


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  5. #5
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    My AT modern day equivalent would 1k more than when I bought it 5 years ago!

  6. #6
    Somehow I donít think the average Patek buyer will care less about this news.

    Omega already seem overpriced for what you get.

  7. #7
    In fairness they have upped their game on with new generation of movements and the fit/finish is now top notch.
    Quote Originally Posted by Gunnersaurus View Post
    Somehow I donít think the average Patek buyer will care less about this news.

    Omega already seem overpriced for what you get.
    Sent from my SM-G950F using TZ-UK mobile app

  8. #8
    Grand Master andrewcregan's Avatar
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    Quote Originally Posted by henk View Post
    In fairness they have upped their game on with new generation of movements and the fit/finish is now top notch.
    I couldn't agree more. Having owned two of their recent line up, they are on the up. The new in house METAS movements are great, and easily as accurate as the best Rolex that I have owned.

  9. #9
    Master shalako's Avatar
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    Quote Originally Posted by Gunnersaurus View Post

    Omega already seem overpriced for what you get.
    Compared to many other brands out there I would say the exact opposite, itís just a pity their watches donít hold their value as well as PP and of course Rolex but IMHO the quality is there.

  10. #10
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    Quote Originally Posted by henk View Post
    In fairness they have upped their game on with new generation of movements and the fit/finish is now top notch.

    Sent from my SM-G950F using TZ-UK mobile app
    Agreed. And Omega have done the same as well

  11. #11
    Quote Originally Posted by Gunnersaurus View Post
    Somehow I don’t think the average Patek buyer will care less about this news.

    Omega already seem overpriced for what you get.
    And what exactly do you think you get ( or do not get ) when you buy an Omega?
    I think the rather off hand remark deserves a little further clarification.
    Ofcourse, one is not talking about residuals here.

  12. #12
    Quote Originally Posted by ryanb741 View Post
    Agreed. And Omega have done the same as well
    I liked that

  13. #13
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    hang on logically, inflation at ~2% and a lower pound to euro. (and swiss franc)...4% probably doesn't cover it. however i put that aside as i feel with luxury items its not about the makers costs. part of the deirabilty is the cost, and rising costs add to the desirability. think what would happen if rolex prices doubled....and what would happen if they halved.

  14. #14
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    Quote Originally Posted by LondonNeil View Post
    hang on logically, inflation at ~2% and a lower pound to euro. (and swiss franc)...4% probably doesn't cover it. however i put that aside as i feel with luxury items its not about the makers costs. part of the deirabilty is the cost, and rising costs add to the desirability. think what would happen if rolex prices doubled....and what would happen if they halved.
    This post isn’t about Rolex. Think about what would happen if Patek doubled their price. Oh hang on the resellers already do.

  15. #15
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    exactly, its the same for omega and patek as for rolex

  16. #16
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    Omega raising their prices is a bit of a joke... they are usually already 20% of rrp...as they tank on resale... thatís just going to put more people off.

  17. #17
    Craftsman Megatron's Avatar
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    Having eavesdropped intently at Rome's Omega boutique to a conversation I'm not sure a 4% price rise will deter many nor will those same people ever consider buying second hand (Young affluent tourist that just wanted "the watch that James Bond had". And the strap too.)

    We are a self selecting group that will look for value and consider second hand purchases - but I strongly suspect we are a very small proportion of Omega/PP's market.

  18. #18
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    Classic Omega models such as speedmaster pro, smp 2531, 2254 etc are getting more expensive on the 2nd market. Even the quartz 2541 is getting more expensive.

    The increase will not affect me as I don't buy new nowadays

    Sent from my CPH1851 using Tapatalk

  19. #19
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    Quote Originally Posted by hchj View Post
    Classic Omega models such as speedmaster pro, smp 2531, 2254 etc are getting more expensive on the 2nd market. Even the quartz 2541 is getting more expensive.

    The increase will not affect me as I don't buy new nowadays

    Sent from my CPH1851 using Tapatalk
    But, you've just said that second hand prices are rising too so how will it not affect you unless you just don't buy ever again?
    Last edited by MarkJS; 11th April 2019 at 12:21.

  20. #20
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    Quote Originally Posted by Jlynch1984 View Post
    Omega raising their prices is a bit of a joke... they are usually already 20% of rrp...as they tank on resale... thatís just going to put more people off.
    Most items tank on resale, its just that some rand buck the trend.

  21. #21
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    With the commodification of Rolex you'd expect that brands like Omega would be lowering prices to try to compete (as the value retention on Rolex is going to sway a huge % of casual prospective buyers).

    That effect might be negated by the restrictions on supply from Rolex's side, though. At this point I've been waiting a month for a lowly Oyster Perpetual!

    The argument that 'luxury is about perception, and high and always-upward retail prices contribute towards that image' doesn't seem so applicable in this case, as it's fairly common knowledge that most Omegas can be freely had at huge discounts.

  22. #22
    Master shalako's Avatar
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    I wonder whether Omega are attempting to resolve this issue of their watches being sold at huge discounts as Iím not convinced itís good for brand confidence or whether they just accept thatís where they are. Some brands are very strict about their watches being sold at discounts and will remove the franchise but Omega do seem fairly ambivalent about it but other than that I really like the way the direction the brand has been going of late.

  23. #23
    Quote Originally Posted by shalako View Post
    I wonder whether Omega are attempting to resolve this issue of their watches being sold at huge discounts as Iím not convinced itís good for brand confidence or whether they just accept thatís where they are. Some brands are very strict about their watches being sold at discounts and will remove the franchise but Omega do seem fairly ambivalent about it but other than that I really like the way the direction the brand has been going of late.
    It is hard to know what their end game is. One can't argue with the price they charge but that price has to be supported by their market. They make some fantastic watches and cannot complain about their quality but there are far too many
    Models and LEs which does dilute the brand equity. They are trying to be like Rolex but Rolex have better long game.

  24. #24
    Quote Originally Posted by shalako View Post
    Compared to many other brands out there I would say the exact opposite, itís just a pity their watches donít hold their value as well as PP and of course Rolex but IMHO the quality is there.
    I totally agree Omegas quality and looks can rival some of the more popular models IMO

    Sent from my SM-G965F using Tapatalk

  25. #25
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    Quote Originally Posted by jukeboxs View Post
    Patek price increase was confirmed on 1 April, c4% increase from 1 June.
    I could live with that - its the last price increase which was a big sting. think that was some 20 odd %

  26. #26
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    Excuse my ignorance, but what's the reason for this increase? I'm sure they don't all sit in a big board room and say "our market share is so good, we can increase our prices by 4%"? Surely?

  27. #27
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    Quote Originally Posted by GregR_ View Post
    Excuse my ignorance, but what's the reason for this increase? I'm sure they don't all sit in a big board room and say "our market share is so good, we can increase our prices by 4%"? Surely?
    Inflation, currency fluctuations etcetc

  28. #28
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    Quote Originally Posted by ASD25 View Post
    I could live with that - its the last price increase which was a big sting. think that was some 20 odd %
    I thought it was a 20% increase on just a few models?

  29. #29
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    Quote Originally Posted by gbn13 View Post
    I thought it was a 20% increase on just a few models?
    You could be right, I am on the wait for a 5712, so I know that went up, never checked the full model range.

  30. #30
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    Quote Originally Posted by ASD25 View Post
    You could be right, I am on the wait for a 5712, so I know that went up, never checked the full model range.
    Was just 5711A and 5712A

  31. #31
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    Quote Originally Posted by LeBowl View Post
    Was just 5711A and 5712A
    Thanks mate, didn't know it was just those. I would assume the aquanaut should experience something like that soon.

    I just hope there are no more on the 5712 until after I take delivery! After that double digit increases are fine with me...

  32. #32
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    On the contrary, I suspect they put quite a bit of thought into price increases. Where the brand is positioned, the profit per item and volumes are probably very important things to them at board level... It's not just profit right now, but also 'brand growth' that must interest them.

  33. #33
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    Quote Originally Posted by ASD25 View Post
    Thanks mate, didn't know it was just those. I would assume the aquanaut should experience something like that soon.

    I just hope there are no more on the 5712 until after I take delivery! After that double digit increases are fine with me...
    Is your expected delivery date before June 1st? Iím expecting an incoming anytime now but it wonít be the end of the world if it comes after June 1st

  34. #34
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    Quote Originally Posted by LeBowl View Post
    Is your expected delivery date before June 1st? Iím expecting an incoming anytime now but it wonít be the end of the world if it comes after June 1st
    After but yes as long as it's just 4% you can live with it

  35. #35
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    No 20% increase on the 5167. New price is £15100 I think, only had a quick glance at the new price list

  36. #36
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    Agree that Omega build quality on the new stuff is excellent. Unfortunately this makes older models like the Speedmaster Pro Moonwatch distinctly poor value for money at close to £4k after this price rise.


    (as the value retention on Rolex is going to sway a huge % of casual prospective buyers).
    I think watch enthusiasts tend to forget that value retention is the last thing on the mind for most buyers, especially Rolex buyers.

  37. #37
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    Quote Originally Posted by LeBowl View Post
    No 20% increase on the 5167. New price is £15100 I think, only had a quick glance at the new price list
    Try £16760.00 fresh off their website
    https://www.patek.com/en/collection/...ut/5167-1A-001

  38. #38
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    Quote Originally Posted by nunya View Post
    Try £16760.00 fresh off their website
    https://www.patek.com/en/collection/...ut/5167-1A-001
    If only were easily available. As much as I love my 5167 would swap in for a 5164 if I could

    Believe ADs getting less aquanauts this year

  39. #39
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    Quote Originally Posted by nunya View Post
    Try £16760.00 fresh off their website
    https://www.patek.com/en/collection/...ut/5167-1A-001
    That’s on steel bracelet.

    Other poster referring to the rubber bracelet version.

    https://www.patek.com/en/collection/aquanaut/5167A-001

  40. #40
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    Quote Originally Posted by MartynJC (UK) View Post
    This post isnít about Rolex. Think about what would happen if Patek doubled their price. Oh hang on the resellers already do.
    How much do you think the resellers pay for them? Below list and a bag of Haribo?

  41. #41
    Regardless of any increase - i would love to get another PP from the main AD - the experience and their service is so lovely.

  42. #42
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    Speedy has moved up from 3600 to 3810 and the new seamaster from 3600 to 3970 !

  43. #43
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    For Omega, 5% more from 1 May

    Sent from my CPH1851 using Tapatalk

  44. #44
    As predicted I was correct. I suspect Rolex will also follow suit.

  45. #45
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    Quote Originally Posted by hchj View Post
    For Omega, 5% more from 1 May

    Sent from my CPH1851 using Tapatalk
    It's already increased today.

  46. #46
    Quote Originally Posted by Ivan Drago View Post
    Speedy has moved up from 3600 to 3810 and the new seamaster from 3600 to 3970 !
    I thought the speedy was already £3680 after the small increase the other month.
    It's just a matter of time...

  47. #47
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    Hasn't there already been a price increase this year? Seems slightly unreasonable to increase twice in a few months.

  48. #48
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    Quote Originally Posted by Ivan Drago View Post
    Speedy has moved up from 3600 to 3810 and the new seamaster from 3600 to 3970 !
    Quote Originally Posted by Omegamanic View Post
    I thought the speedy was already £3680 after the small increase the other month.
    The Speedmaster was £3680 RRP up till last night. That's the baseline price at which I started from when I bought mine 2 weeks ago. It's now at £3810 RRP as of today.

    I'm very glad I went ahead when I did.

  49. #49
    Quote Originally Posted by AndyA View Post
    Hasn't there already been a price increase this year? Seems slightly unreasonable to increase twice in a few months.
    There was, but very restricted to one or two models only. The Moonwatch specifically, as I'm sure it was somewhere between £3470 and £3570 RRP prior to the first increase. I have a tag with one of mine somewhere.
    It's just a matter of time...

  50. #50
    Quote Originally Posted by MarkJS View Post
    The Speedmaster was £3680 RRP up till last night. That's the baseline price at which I started from when I bought mine 2 weeks ago. It's now at £3810 RRP as of today.

    I'm very glad I went ahead when I did.
    Me too :) I'm not sure if be buying at current prices. In saying that, as significantly cheaper than a lot of less iconic Chronos.
    It's just a matter of time...

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