Grand Seiko cancels 60th Anniversary event - Coronavirus fears

[gcleminson]

I wonder how this will affect BaselWorld


http://www.fratellowatches.com/break...ersary-summit/

[wileeeeeey]

Is there anyone left at Basel? Every week another brand drops out.

[Saint-Just]

I wonder how this will affect BaselWorld


http://www.fratellowatches.com/break...ersary-summit/

The most surprising thing to me comes from the header, that features a watch I didn't know existed: a spring drive without the RdM...

[Flasher]

I wonder how this will affect BaselWorld


http://www.fratellowatches.com/break...ersary-summit/

With the Swatch group having cancelled their own unveiling show for the 2020 models, this from GS and the ever decreasing list of BaselWorld attendees, sites such as Fratello and ABTW will become more important to the big brands over the coming months to create the buzz for the new releases and get the buying public engaged.

With Baselworld already under pressure to remain relevant, the Coronavirus outbreak has undoubtedly been disastrous timing for event, with its future surely now under question if it fails to deliver in April.

There must be a lot of worried Executives within the major watch players at this time, with the Far East market off a cliff at this moment. Hong Kong, probably the biggest consumer market for luxury watches having already had a 30% the downturn due to the Political situation and now for the Virus epidemic to hit, the market is awash with Swiss watches going nowhere as buyers shun the area.

Having just come back recently, Hong Kong is a ghost city compared to the amount of footfall normally expected and the stores are busting full of non shifting stock. Nothing in Rolex AD, even an epidemic virus cannot stop flippers from grabbing a steel model at RRP but the Secondary market dealers are having to cut deals to try and shift stock and they are not happy. Who said values always go up and up.

Continually see our UK Secondary dealers BS about limited availability or highly desirable exclusive to justify their asking prices or the buyers being told investment quality pieces, take a trip to Hong Kong to see prices tumbling on five and six digit Rolex as well as Patek and AP. With row upon row upon row of the seemingly short supply pieces that buyers are scrambling over here in the UK and allowing AD staff to see if you are worthy of this watch or forcing you to purchase some bi metal datejusts to even be considered.

[ryanb741]

With the Swatch group having cancelled their own unveiling show for the 2020 models, this from GS and the ever decreasing list of BaselWorld attendees, sites such as Fratello and ABTW will become more important to the big brands over the coming months to create the buzz for the new releases and get the buying public engaged.

With Baselworld already under pressure to remain relevant, the Coronavirus outbreak has undoubtedly been disastrous timing for event, with its future surely now under question if it fails to deliver in April.

There must be a lot of worried Executives within the major watch players at this time, with the Far East market off a cliff at this moment. Hong Kong, probably the biggest consumer market for luxury watches having already had a 30% the downturn due to the Political situation and now for the Virus epidemic to hit, the market is awash with Swiss watches going nowhere as buyers shun the area.

Having just come back recently, Hong Kong is a ghost city compared to the amount of footfall normally expected and the stores are busting full of non shifting stock. Nothing in Rolex AD, even an epidemic virus cannot stop flippers from grabbing a steel model at RRP but the Secondary market dealers are having to cut deals to try and shift stock and they are not happy. Who said values always go up and up.

Continually see our UK Secondary dealers BS about limited availability or highly desirable exclusive to justify their asking prices or the buyers being told investment quality pieces, take a trip to Hong Kong to see prices tumbling on five and six digit Rolex as well as Patek and AP. With row upon row upon row of the seemingly short supply pieces that buyers are scrambling over here in the UK and allowing AD staff to see if you are worthy of this watch or forcing you to purchase some bi metal datejusts to even be considered.

I was offered a stickered Pepsi GMT for just under £10k from a Hong Kong Grey last week so the brown sticky stuff must be hitting the fan. Friend in Thailand got an Aquanaut Travel Time from a HK grey at about £200 over list last week.

[Flasher]

I was offered a stickered Pepsi GMT for just under £10k from a Hong Kong Grey last week so the brown sticky stuff must be hitting the fan. Friend in Thailand got an Aquanaut Travel Time from a HK grey at about £200 over list last week.

Once it gets out in the marketplace that Hong Kong is dropping prices and if it continues, which I can see no reason why downward pressure will not remain, then the whole market gets affected. Uk secondary will be trying to ride out the storm and hope buyers do not learn about the Markets dropping but with a Pepsi at £10k and Travel time nearly on RRP, either prices have to drop or buyers disappear, probably to Hong Kong for a Holiday visit!