Reply With QuoteSeamaster 300 (heritage) now £6500 on a bracelet. Makes my recent acquisition at £5300 seem a bargain (sort of). I was aware of the increase and made sure I agreed prices ahead of it otherwise I would have rather waited a couple of months.
It’s probably common knowledge but I have just noticed the price of the standard Speedmaster Professional has gone up to £6400. £400 more than it was last time I checked.
I’m not sure about other models but I’m assuming everything has gone up.
https://www.omegawatches.com/en-gb/w...31030425001001
Seamaster 300 (heritage) now £6500 on a bracelet. Makes my recent acquisition at £5300 seem a bargain (sort of). I was aware of the increase and made sure I agreed prices ahead of it otherwise I would have rather waited a couple of months.
As I am sure it has been mentioned before, Omega seem to be trying to take advantage of the lack of availability of Rolex watches. I was in the Lakeside Omega Boutique earlier this week and they told prices were going up again on 1st Feb. I like the a lot of their offerings but £12,500 for the Ultra Deep (Was £11,400 when I tried it on Monday) is, quite frankly, farcical.
Also, in the current climate where some people are struggling to put food on the table it seems a little obscene.
But that could be said about any luxury item (cars, watches, holidays, handbags, etc.) There will always be people who are willing to pay (and can easily afford) whatever something they want, costs.
Just simple supply and demand.
One could say that any watch that costs over £5k is obscenely priced.
Originally Posted by Crouchy
Those prices are becoming a little bit mad. Although, the crazy hikes of JLC take the biscuit. A standard large reverso is now 8.8k, it was about 5.5k less than 2 years ago I think.
Last edited by Berty234; 1st February 2023 at 10:19.
I also remember large price increases around the 2008/2009 recession or just after.
I wonder what happens if they went too high on their price increase and sales dropped off a cliff edge. I could see subsequently reducing prices as damaging to the brand image of a veblen good company like Omega and Rolex. I assume they are pretty careful/calculating when increasing prices.
I absolutely agree with you, however, even though I drive a bright green RS3 I find myself wearing less ostentatious watches more often. To be fair my wife often says ‘you drive that but worry about the watch you’re wearing’. I guess it’s just a first world WIS problem.
what does a single mum with 3 kids having trouble to buy food have to do with buying a watch ? Might as well sell your house and car also and shop at Primart !
Cost of living thing is over hyped, try booking a holiday UK cottage for summer most fully booked up all ready, Try buying a Porsche, 2 year waits that's even if they will take an order, And don't get me started about even walking into a Rolex dealer.
Every one got a pay rise and inflation is coming down, people are much better off then they were 20 years ago due to cheap money, people now need to learn to get back to normal, but no they go on strike to try and keep the very high living standards the Con Gov gave us the last 12 years.
Go help the really poor, I took a guy off the street last week took him to a cafe and said order what you like. he was so nice and we had a chat, and I left him with a full belly and a warm place to sit for an hour.
People just don't want to help others and want to live the high life at any cost on debt.
I am happy interest rates are going up and we get back to some kind of normal where people save up for what they want. people had it too good imo and now just moan a lot.
Snoopy now almost 10k!
£7400 for the Speedy Pro Sapphire, expensive but is there a nicer new Swiss Chrono for less?
Managed to pick my Speedy Sapphire up last night for 15% off yesterdays RRP, (yes with the older non easy adjustable clasp). But glad I did, thought a 7% increase across the board, but 8.8% on the Speedy would be far to much!
All these Omega price rises make the now discontinued ‘First Omega in Space’ a bit of a bargain at £5k. 😊 Even if it only comes on a leather strap.
You couldn’t buy but wasn’t the price at launch last March/April £10,800? That’s me definitely out!
EDIT: just realised I’m talking about the steel on steel which is now £11,700. Not sure what increase that is.
Last edited by David_D; 1st February 2023 at 12:51.
Yup, JLC was previously good value, now I feel they are overpriced after 50% rrp increase in 3 years. I remember a master ultra thin moon at kibble watches sitting around for ages last year at 5.5k. What makes them think they can now sell the same watch for 10.8k, simple steel dress watch with a uncomplicated feature.
Speedy moon was previously a hidden gem in terms of value, I wouldn’t say really overpriced but it’s getting there now.
I’m also just happy to get the core of my collection sorted at ok prices, steep for anybody new to the hobby.
I see your point Chris. It's a fantastic watch.
Last edited by j111dja; 1st February 2023 at 21:26.
At these prices a lot of the models will just sit gathering dust in AD windows. In order to get a sale they will surly have to be heavily reduced which cannot be good for brand image.
Who in their right mind would even consider paying £6400 for speedy!
If you think that is obscene, take a moment to think about how much it costs to run a boat.... that watch price wouldn't fill the tanks on some of the yachts and they will burn through it in less than a week. V8 7.4 litre outdrives on a 32-35 footer, you can expect to use about £500 in fuel per hour..... if you feel guilty about the money you have earned and have, then do some good with it.
Totally agree. They are simply massively over-priced now, you can’t compare it to cars or houses. This is old tech that everyone used to have, it’s now being re-marketed as incredibly intricate clockwork magic, when the phone in your pocket is light years ahead in terms of technology and advancement, all for £1000 or less. I think you’d have to be very wealthy, or gullible or probably both to buy a lot of vanilla watches for the prices asked now. Emperors new clothes and all that. I also don’t believe the demand is what we’re led to believe. Back in the 90’s lots of my friends in average jobs wore an Omega Seamaster, now most people aren’t interested or wear an Apple Watch. Or perhaps I’m just getting too old for this ****!
We’ll said and your last comment resonates with with me.
I was killing 20 mins yesterday so walked into Goldsmiths in Reading. I thought I’d go and have a look at the Rolex’s I couldn’t buy. I got chatting with a sales assistant and she seemed quite informed about the current supply and demand challenges…..not just for Rolex either…..and Watch making in general.
In this day and age watchmaking is not an aspirational “trade” for youngsters, the likes of TikTok and “the gram” have created a “get rich quick” environment for the young.
Rolex apprenticeships are 5 years and only after 10 years are you “certified”. That sounds great to me but to a 18/19/20yr old 10 years is way too long in this world, these days any way.
It got me thinking. How long will it take to get watches serviced properly in years to come with fewer and fewer true watchmakers who how done the time it takes to perfect an intricate trade? And supply will be affected.
My theory is they are seeing an increase in certain models and a complete, off a cliff decline in others so they are having to change manufacturing strategy to meet the “new demand”.
It’s a sign of the times. Watches are losing their appeal to me. I wear my Apple Watch 95% of the time. And when I wear my Speedy or Big Pilot, I get the hump that I cannot check the temperature to decide which coat to wear out, that I can’t see how well I am doing on “my rings” or bang out a quick ECG so I know I am not dying.
I’ve even lost the will to upgrade to the latest iPhone last year as the 13 Pro Max is perfectly capable and I won’t miss the ball ache of re-setting up Apple Pay and having to buy a new case.
The Omega price rises yesterday are the icing on the cake. If something goes from aspirational to impossible, people will lose interest and move onto something else. That’s me. I used to love buying and flipping <£5k watches……which was Subs, LV’s, Panerai, pretty much all flavours of Omega Speedy. Those days are gone for sure.
That said I did “express interest” in a Pelagos 39 and LHD. Maybe, just maybe, if I am truly lucky, I will be honoured with the possibility of parting with my money.
The £10k V Serial Sub on SC inspired this post.
In 2005 I bought a 16610 for £2,350. It was in stock on Regent St and I collected next day……albeit after calling 20 dealers trying to find one.
About the author:
Mark - who turned 52 last week…..probably explains it all.
Yep mechanical watches are basically the equivalent of steam trains and all the talk about 'technological upgrades' is the equivalent of basically putting a slightly more efficient steam engine into the market!
Any G Shock is miles more advanced and far tougher. However that kind of misses the point as there is something intrinsically compelling about an intricate mechanical movement ticking away merrily on one's wrist. At least that's why I like them but all this METAS/Superlative Chronometer talk is just guff.
Do I want to spend ten grand for the pleasure though? Not at all so I'm all about the independents and boutique brands for now unless a compelling 2nd hand deal presents itself.
I remember a few years ago both Patek and Breitling actually reduced prices
I'd pay £6,400 for a new Omega speedmaster. It is an amazing watch. For the record, I'm not in the market for one but I do have five (three vintage and two anniversary pieces). None of them are going anywhere.
As for prices generally, I think the new watch market just mirrors what we are seeing in every other area of life at the moment. New musical instrument prices have definitely been following this general trend upwards. FWIW, there are plenty of people out there paying over £7k for Roland drum kits that we around £5.5k just a year ago.
Wow..... just checked and the Speedmaster '57 is now £8700 on the bracelet. That's up £1k since the release in March last year?!
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I suspect (outside of the enthusiasts) that far fewer mechanical watches are being sold now compared to the 90’s. Normal people - not just the wealthier end - all used to wear mechanicals but now it’s generally a cheap quartz, an Apple Watch or you just use your phone. In the fairly recent past mechanical was all there was, after all. To survive and thrive you have to sell the watches you are making at a much higher price. Make them artificially rare to justify that extra cost, add a few bells and whistles which look shiny but don’t really add much to the production cost (fully lumed ceramic bezels, sapphire crystals are now available on many cheap micro brands after all) - spin in the fact you don’t have many youngsters training as technicians so hike up the servicing costs, make months waiting for your watch to be serviced part of the ‘experience of a higher end timepiece’ then mix in lots of special editions, add a display back onto your divers watch for those that haven’t seen anything clockwork before, chuck in a big wooden box and a bit of social media instagram flexing, get a few celebs to wear them and Bob’s your uncle!
Thanks, and well put, really enjoyed reading that.
I wonder if this conversation was 20 or 30 years ago, whether it would be broadly the same? These products HAVE to be aspirational goods, that's probably the key part of their appeal. When we were younger and looking in a retailer window, we were dreaming of when we could enjoy that. Then we get older and, if we're lucky, these become more attainable. But they still need to be relatively unattainable to maintain that scarcity image across society. So the price ratchets up to achieve that, relative to disposable income and the movement of competitors.
It's a great point about the younger generation, not only whether they desire watches in the way (and in the numbers) that previous generations have, but also whether there will be the motivation to move into servicing and the like (a large part of which must be motivated by a love for watches). Who knows. On smartwatches, having been a strong and early adopter myself, I very much fell out of love with them and have never gone back. I far prefer the enjoyment (and privacy!) I get from mechanical watches.
The last few years of price insanity has not been good, and likewise the modern attitude of 'must have it now' coupled with availability of debt means the market swings are more volatile.
But who knows, I like to think there's enough youngsters out there who will enjoy mechanical watches, that prices might not get moved too far, and the pendulum might swing the other way, back toward mechanical watches again.
Omega have lost their minds. Really quite embarrassing.
These days - new from an AD - I’d buy a Hublot before I’d buy an Omega.
Those saying Omega have gone mad, and 'I would never pay X' are simply no longer Omega's target market. The world's changed.
Go to your nearest large City Centre and you'll find stores like Kick Game selling trainers like Air Jordan's for £250-£1000 and they're no better made than a £100 pair. People will spend over £1000 on a winter coat, and won't wear it next year because it's no longer in fashion. These people aren't the super rich, it's young guys who have regular jobs.
If lads are willing to spend a couple of grand on an outfit that'll be worn for a year at most, £10k for a watch that'll last a lifetime is good value. They don't care what it cost 10 years ago, it's irrelevant.
Agree with the above. Our local used sneaker store operates a queuing system. It is so in demand that people literally queue up to pay hundreds and thousands for used trainers. I watched for a while, they were buying, not just window shopping.
I saw a pair of Nikes in there for £5.5k. Makes an omega seem good value.
They like their watches too. I know that.
Last edited by tz-uk73; 2nd February 2023 at 22:17.
What on earth is going on, the Sapphire Sandwich on bracelet had only just gone up to 6800 in the last couple of months…..and now it’s 7400!!!???
The higher you Climb the harder you fall..
It's all about freedom. Everyone has the right to spend their hard earned on whatever they want and there is no need for some nosey little fusspot to make snide comments.
I would also remind snidey fusspots that spending £12k on something is creating jobs from the shop down through to those who supply Omega which means more taxes get paid.
We need more purchasers and less snide fusspots.
RRP is going up and in a few months from now I reckon the discount % available will be going up as well.The market still hasn’t bottomed out despite what the dealers want us to believe.
I didn’t realise kick game have 6 physical stores!
The buy price for the ADs has gone up by more than the RRP has gone up by so actually the margins are lower now as a % (but similar to pre rise in £ value) so actually discounts available are likely to be lower in % terms
Snide fusspots??? or sensible people who realise what a ridiculous rip-off the whole luxury brand thing has become? Or are people not allowed to have an opinion unless they’re fawning morons? And I’m not sure it creates jobs, I guarantee the people who work for them aren’t experiencing the same rise in their pay packets. Keep your Rolex’ in the safe and track your investment pieces value all you like, some of us can see right through the nonsense.
You could apply the luxury brand rip off point to any type of high end goods, it’s not just watches. They will keep selling as even though the increases are eye watering, I am seeing significant wage inflation coming through as well so it’s not all a squeeze.
That’s said, having taken in my Sedna gold Aqua Terra in for repair (as hour and minute hand had misaligned) I was told the RRP on that watch was now £19,800…I love that watch, pound for pound, the best in my collection, but that’s because I bought from Kash on sales corner for just over £8k…I wouldn’t pay £20k for it, no chance
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I've gotten into sneakers a bit in the last year and honestly it's a mind bogglingly weird culture. All of the hype sneakers actually retail at a reasonable-ish price (e.g. £100-£200) but certain models are so in demand that they sell out immediately and can sometimes be straight back up for sale at 2-3-4-5-6x the RRP. I walked into Kick Game in Birmingham last week and it just blows my mind the prices that are charged and that people pay them. I try and pick up the shoes I want at retail.. if I don't get them, or I can't pick them up at near retail, then forget it. It's a pair of shoes for christs sake and Nike etc crank out hundreds of designs a year.
If you think the whole thing is a "ridiculous rip off" then simply stay away and stop making snide comments such as "some of us can see right through the nonsense" which is divisive. Everyone is entitled to buy what they want, when they want without snide comments like that.
I think we have a different understanding of the word snide.
I purchased a medium reverso duoface new under two years ago for almost half as much as they’re asking for it now… madness.
Agree with pretty much everything you’ve said. Tried booking a cottage in the UK for my other half’s 50th last year and most were booked up 1-2 years in advance !!
I also remember well when interest rates were in double figures and we all just got on with it and budgeted accordingly. In comparison money has been cheap and in some cases almost free to borrow over the past 10 years or so and as a consequence it’s been easier to buy all the things instantly rather than saving for them and it seems that car dealers, watch dealers and many other manufacturers of goods, luxury or otherwise are taking advantage of peoples willingness to splash the cash.
The divide between rich and poor is widening. Many of the comments on this thread illustrate that. I work in an environment when I come into contact with those at the other end of the spectrum on a daily basis and many are genuinely struggling. I’m in my mid 50’s so I’ve been around a few decades. For many of us it’s hard work that puts us on the wealthy side of the divide - but you need to dash in a bit of good luck, good health, a stable background and make some good decisions along the way. Sadly not everyone gets the same chances and opportunities. For example, I genuinely think if I hadn’t met my wife when I did, and if I’d been born 10 years later, I might have really struggled to buy my first property which ultimately was my first step to financial stability. Having a disabled child as we did might have been catastrophic in many ways but that stable background established at an early age made a huge difference. I’ve been lucky but that doesn’t apply to everyone.
Last edited by RobDad; 8th February 2023 at 01:25.
Well said
I probably sound like a stuck record but inflation aside it think it will be more and more difficult for watch companies to justify the increased prices. In my opinion the law of diminishing returns is very apparent in the watch business.
The price point at which this kicks in will vary from person to person but if you take the Ultra Deep as an example, what really justifies the price tag of 11.7k?
The technology used in the watch construction is unremarkable (thick case and crystal, possible specialist gaskets, yes they would have had some research to do but the EZM2 has almost the same depth rating for around a 2/10th of the price - it’s not 2/10th of the watch, that’s for sure.) the material used is unremarkable stainless steel (sorry O-mega steel) or titanium - both materials that Omega are used to machining.
I would love to try one but not at that price, it’s not worth that sort of money to me. That’s for a new watch, if you consider the SM or SP then this becomes very hard for me to ignore.
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