Another attack of Horofatiguecitis
A PT Haldimann H1 ( and I so love this central tourbi) closed at HKD644K (HKD520 without) including premium today at Sotheby HK. I participated in that auction while slurping on a coke during lunch so the numbers are actual. This is not about a price disc...
I wouldn't presume the seller took a bath . . .
. . . based on the list price, Arthur, because the discounting that prevails at the mass market level can be found at the stratospheric level, too . . .
Gonna try to fit this
for my avatar and give lovely Ms Forlani a break YOU WANT ME TO PAY WHAT?!!!!!!!!!...
your case of horofatigue has almost reach Greek debt proportions.
i missed the said auction today...sigh best, Horo
Think the H1 are not as mass market yet but if it was a PP, it would have been quite
different? Another point is that the mark up could be so astro that the discount is astro for the 1st buyer too. so not much mula hit to him anyway. cheers PAt
Your point on PP was noted in my starting post
As for the discount on the Haldimann in particular.. I donl;t think it was/is that astronomical. In any case, the greater point in the lareg percentage loss on new watches in general but there will of course be exceptions to any rule.
This sort of reduction ...
... is what I see from many other secondary markets for watches. It seems reasonable to me. A good time to buy? Andrew
Seems to always be a good time for secondary market watches
and always a bad time for new watches by the looks of resale prices.
I am no economist, but ...
... it seems to me that this secondary market price is where you define the true "value" of a watch, in all that term means. The profits for the manufacture and the middle men/dealers have been stripped away and you are left with the intrinsic value that ...
+1 ... I concur.
Andrew, I completely agree. I have tried to explain to casual watch appreciating friends that much of the premium attributed to watch purchases from authorised dealers or boutiques lies in the sales experience or to put it crudely the "ego stroking" that ...
Of the service and ego stroking.. I agree to some extent
But at what cost.. take most watches... one loses 40-65% off the discounted purchase (not even list!) price and that can be anything from $5K to $100+K... sure, being served a nice cuppa in good china in a nicely decked out boutique with great ambiance by...
+1. that's how I guesstimate the intrinsic value after all the madness.
Very much what happened to the green milgauss and green ceramic sub. Cheers PAt
That would be a shocking benchmark...
for some watch industry CEOs. However, I have a problem with this (speaking as an economist!), as secondary watch markets might well fail to capture some 'watch externalities', such as serviceabilities (ok, you might argue they use a large discount rate),...
Maybe you have to choose which secondary market?
Thanks for the additional insights, Magnus. I agree with all you say, but perhaps choosing which secondary market to observe gives more useful data points. It would seem to me that Collectors Markets on our (and other) horological sites connects sellers a...
I will agree and sadly that reinforces my horofatigue
That is inclusive of what I mean by the the madness each of us allows to continue. Strip away and leave what matters and the scondary market price of a lot of watches against the new (and even disocunted new) price make us look like fools I reckon. Of cou...
The seller actually make back his money.....
I remembered being quoted a Platinum H1 a few years ago for around USD$75k. So if the buyer bought it at this rate or lesser, I think he did not lose a single dime. The current H1 is way too expensive , very similar to Vianney's Antiqua which also has a s...