Sorry if this is old news.
https://www.retailgazette.co.uk/blog...ales-surge-20/
Looks like we're not going to get Subs in the window any time soon!
I foolishly thought that the pandemic would have an effect on s/h watch prices and maybe the supply of some models at AD.
The same AD told me at the weekend that they also have never been busier with people putting their money into what they see as ' safe ' investments.
I wonder where the money comes from ....... not .
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Interesting sales have reversed proportionately central locations compared to regional. Though they can I think typically ship specific items around stores as needed.
I would suspect the next 6 months sales may be a different story.
More interesting is the share price is also up nearly 30% in the last 3 days, with the FTSE index slightly declining...
Counterintuitive but heard from two ADs that they’ve never been busier.
I'm sure there are plenty reasons but I suspect one key one is that all those with £££ to spend on such things have more time on their hands whilst WFH and watches always look good on the work laptop!
More practically they are wearable with every outfit, wearable around the house, relatively good residuals compared to other goods (apart from Porsches!) and of course pretty cheap to run.
And then of course there is the feel good factor we all crave after 6-7 months of lockdown and restrictions.
Despite hardly wearing a good watch during the depths of Lockdown I'm back looking again.
And after 7 months of not paying for travel and City lunches and other associated work costs I've probably saved enough over the last 6 months to leave as a hefty deposit on a new watch?
And how could I forget family holidays! That's thousands saved this year.
Right I'm off to Sales Corner!
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Wonder how much this increase in turnover is related to price increases.
I’ve been in countless ADs in London and had the same news that demand is as high as ever and that new models will be near enough impossible to get hold of unless you are an existing and valued customer.
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Wow the Rolex bubble hasn't burst!!!!
Like it was ever going to!
Started out with nothing. Still have most of it left.
On a more serious note, was in a Rolex AD couple of weeks ago to collect a watch and they said they had people wanting to go on 'lists' for watches every day.
They also said they had two lists. One for regular, local customers, and one for customers who didn't live local and had never bought from them.
Started out with nothing. Still have most of it left.
I'm also guilty of assuming this, it's took 3 separate ADs telling me business is booming before I believed them. Clearly related to unexpected extra cash in the pockets of salaried white-collar workers & the need to brighten up an increasingly dull pandemic.Originally Posted by 2ptjoe
At onset of pandemic was hard to see this happening. But furlough cash, sitting at home combined with the continued desirability of a Rolex, it all makes sense...
Interested to see how the watch market progresses in the next 6 months...many still predicting the bubble bursting! Dealers I have spoken to of course are confident it will not and I have had the busier than ever message too.
As an example, my local dealer tells me the wait list they now have for the new OP range is unbelievable and they cannot supply the 36 or 41 potentially for months. Definitely nothing before Christmas apart from a handful to selected regular clients.
Last edited by Boss13; 8th October 2020 at 07:21.
I still expect a long-term sales slump. The last six months have been unreal and will not be repeated. Millions are losing jobs..we all know that. Big companies are taking huge economic hits. The idea of jewellery such as watches being a ‘safe’ investment is fantasy in such conditions.
Yes, quite a few have been able to save (no holidays and so on) but a deeply hit economy cannot produce magic...
I’m saving money, reducing costs, waiting.......I hope i’m too pessimistic.
Last edited by paskinner; 8th October 2020 at 09:57.
It is just that everybody else is going to collapse around them, in six months to a year.
"The whole purpose of mechanical watches is to be impertinent." ~ Lionel a Marca, CEO of Breguet
Since you have been predicting doomsday regularly along with some others, I am sure you will be proven right one day.
Just like someone promised Coronavirus will go away like that. Some day.
A long term sales slump in the watch market or all markets ?
Interest rates lowest they’ve ever been , could even be negative interest in the foreseeable future , wealthy folk will always be looking to invest regardless.
No fantasy about it.
There is currently £15-25 billion in fraudulently obtained bounce back loans sloshing around bits of the economy. This will find its way into assets.
Unprecedented times we are in. Millions hurting financially, business destroyed, yet some people quite stable with usual spending options curtailed. It’s not as simple as recession hits sales.
D
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We’l see. Soon.
Perhaps disposable income has increased for some ?
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I am absolutely terrified. Of the unknown. Some say this thing could last 3-6 years. Is it? Isn't it? When I see the -% of the businesses going down and the +% of the ones going up... how long can that last?
Anyway, I believe that soon there is going to be a shortage of watches. People believe there is value in good watches. And there are many people looking for value to park money into... and only so many watches.
"The whole purpose of mechanical watches is to be impertinent." ~ Lionel a Marca, CEO of Breguet
Perhaps for some?
No, no, not at all!
Disposable income has increased for very many, perhaps most.
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