Omega sure is getting pricy...
I was never in the wage category to consider a Patek so their changes affect me less :D
Rumour is a price rise increase due for both brands.
Omega sure is getting pricy...
I was never in the wage category to consider a Patek so their changes affect me less :D
Patek price increase was confirmed on 1 April, c4% increase from 1 June.
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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My AT modern day equivalent would 1k more than when I bought it 5 years ago!
Somehow I don’t think the average Patek buyer will care less about this news.
Omega already seem overpriced for what you get.
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.
exactly, its the same for omega and patek as for rolex
Omega raising their prices is a bit of a joke... they are usually already 20% of rrp...as they tank on resale... that’s just going to put more people off.
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.
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
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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.
I wonder whether Omega are attempting to resolve this issue of their watches being sold at huge discounts as I’m not convinced it’s good for brand confidence or whether they just accept that’s 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.
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?
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.
No 20% increase on the 5167. New price is £15100 I think, only had a quick glance at the new price list
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.
I think watch enthusiasts tend to forget that value retention is the last thing on the mind for most buyers, especially Rolex buyers.(as the value retention on Rolex is going to sway a huge % of casual prospective buyers).
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
Regardless of any increase - i would love to get another PP from the main AD - the experience and their service is so lovely.
Speedy has moved up from 3600 to 3810 and the new seamaster from 3600 to 3970 !
For Omega, 5% more from 1 May
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As predicted I was correct. I suspect Rolex will also follow suit.
Hasn't there already been a price increase this year? Seems slightly unreasonable to increase twice in a few months.