WOS doing well

[mitch1956]

well some one doing well in theses times ?
https://www.dailymail.co.uk/money/ma...-lockdown.html

[TheGent]

I’m not sure whether I’m surprised by that article or not. We live in such strange times!

Thanks for you posting.


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[dandanthewatchman]

I read that. Was in Mappin & Webb Manchester on Wednesday looking at 31mm datejust for the missus. Was empty. Salesman telling me it was crazy busy since lockdown had eased and buy the black diamond dot dial now as it may be gone !!

Not sure I believe the hype.


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[monogroover]

Odd one, I can only assume people were splashing out on new toys out of boredom. Similar story at Andertons, the music retailer. Closed their store at Guildford but online sales soared after lockdown.

[mindforge]

Similar article in the FT today with some amusing comments online.

[Christian]

Not surprised...last recession was doom and gloom yet the luxury market skyrocketed beyond belief. The rich get richer in times like this. Its not those that are being laid off from restaurants and the leisure industry that were ever the key market for WoS.

[mitch1956]

i was in leeds yesterday , got to talk with the manager , and he said as fast as they were being delivered in the back door they ( rolex) were going out the front door, seems may be people thought watches are a hedge investment bit like gold in times of trouble ?

[Stonewood]

I can understand why they are doing well. Some people who are not really financially effected by COVID-19 actually have more disposable income as they may well have saved on a number of things in the recent months; eating out, family trips, house cleaners, childcare etc. All that adds up so people feel like splashing out to cheer themselves up during this horrid time.


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[helidoc]

I am a bit surprised to be honest. Some of their customers are clearly doing OK, I include myself in this, as a fat employee of the state with little to spend money on. I would have thought the loss of footfall would have had a much bigger effect.

Maybe Gold and Rolex is where people’s money is going

Dave


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[kultschar]

I guess so much for the grey dealers suffering. I guess not much has really changed since Pre-Covid

[tim2012]

Maybe it is for the better for the long run. At some point these watches will have to come into the second hand market and it will be interesting to see their prices

[Guycord]

Maybe it is for the better for the long run. At some point these watches will have to come into the second hand market and it will be interesting to see their prices

It will slow as recession bites. Further, it will be interesting to see how many +5year AP, PP and VC’s come on the market needing £1500-2000 service overhauls and their Owners thinking it’s not so good a return as it once was. Buyers beware / drive discount in your purchase to cover overhaul.

[mmgg1988]

It will slow as recession bites. Further, it will be interesting to see how many +5year AP, PP and VC’s come on the market needing £1500-2000 service overhauls and their Owners thinking it’s not so good a return as it once was. Buyers beware / drive discount in your purchase to cover overhaul.

I hope they do, all the ones I am seeing at present are fairly fully priced given that many will need a service soon or they aren't even being listed for sale.

I imagine WOS are doing well off the back of all the Rolex models they sold via phone in April/May and people spending all their lockdown savings on something shiny. From my experience, the Central London ones don't seem busy as I guess a lot of their business comes from visitors or spontaneous purchases from City workers who aren't at the office at present.

[David_D]

i was in leeds yesterday , got to talk with the manager , and he said as fast as they were being delivered in the back door they ( rolex) were going out the front door,

Out the front door and straight onto eBay. Apparently DJ's now command a premium. Someone has listed a TT DJ they bought today at an £1,800 premium to list.

[mitch1956]

Out the front door and straight onto eBay. Apparently DJ's now command a premium. Someone has listed a TT DJ they bought today at an £1,800 premium to list.

that's what the manger was also saying, that they are trying to fight the flippers who walk out the door and sell for instant profit , he rattled off all the premiums being asked on e bay & C24 on all the range ! got the impression he wants to sell to some one who appreciates the watch and will enjoy & look after it , rather than make a quick buck, hopefully he found me the former

[Hooshabak]

that's what the manger was also saying, that they are trying to fight the flippers who walk out the door and sell for instant profit , he rattled off all the premiums being asked on e bay & C24 on all the range !

I don’t get what it has to do with them(ad) or why they care they’ve sold their watch so should be happy

[Kingstepper]

I don’t get what it has to do with them(ad) or why they care they’ve sold their watch so should be happy

What's it to you what makes them happy?

[mitch1956]

I don’t get what it has to do with them(ad) or why they care they’ve sold their watch so should be happy

probably /possibly nothing to do with them what you do after you buy it , cant say why ,but it was clear it was important to him either professionally or personally!

[awright101]

My AD said almost every other customer wanted a Rolex and their stock had run dry for even the undesirables. Very strange times

[Nairn1980]

The WOS near me has turned into a Rolex boutique (only one outside London).
It’s always busy!!

[ceders]

Interesting comment about the flippers - when I was in London a few weeks, a number of the ADs had 41mm DJs in the window at list price. No blue dials, but if wanted a white or black face, they were available.

[RAJEN]

I guess the obituaries being written at the beginning of pandemic by doom merchants were a little premature:-)

[paskinner]

‘Premature’ is not the same as wrong. Let’s see the situation in six months time. The biggest recession in modern history looms before us. The idea that jewellers will be untouched is interesting. But, we will see.....

[abraxas]

Have you heard about the K-shaped economic recovery? Sadly, this is it.

[SuperVM]

I can understand why they are doing well. Some people who are not really financially effected by COVID-19 actually have more disposable income as they may well have saved on a number of things in the recent months; eating out, family trips, house cleaners, childcare etc. All that adds up so people feel like splashing out to cheer themselves up during this horrid time.


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Commuting and school fees too, both of which add up very quickly.