Will watches suffer the same fate as the car production has?

[Steve748]

There is a huge industry built around watch production employing a lot of people and I wonder if the credit crunch is going/has affected sales in the same way as it has cars?
I have always hankered after a moon phase and looking through some of the websites I came across a JLC that ticks the boxes being thin at 6.5mm, automatic with a metal strap rather than a leather one and as it's a few £k and I'm in no hurry and I don't need it so maybe if I wait the prices may come down?
Similar thinking has hit the cars, will watches be next?
http://www.bacario.com/Details.asp?ProductID=5748

[mel]

Yes, haven't you heard that winky plans to introduce a watch scrappage scheme later in the year, you'll be able to take any old casio stter into your local authorised dealer and they'll give you £2k back to use against the purchase of a new premium watch. Rolex, omega, IWC, JLC, & Tag have already signed up and other manufacturer are expected to follow.

[glazbagun]

I don't think they'll share the same fate (IE: Bankruptcy), but luxury products can't help but suffer in a recession. Theres currently (or at least, there was) a bit of a shortage of skilled watchmakers (hence the high turnaround times for repairs), but that's probably a blessing in this climate, as they won't have high staffing levels sucking them dry. I can't see Swatch vanishing this time- you never know, Swatches may even make a massive comeback in the future climate! But high street branches are going to be pretty deserted for the next while, I'd imagine.

Edited by glazbagun on Sunday 21st June 10:16

[ShadownINja]

The bizarre thing is that there are continual price increases!

[sparkyhx]

ShadownINja said:

The bizarre thing is that there are continual price increases!

beat me too it - in the last 18 month my GP watch has gone from £5700 to £10100, with the last rise a few month ago?

are they trying to dig their own grave?

[ShadownINja]

sparkyhx said:

ShadownINja said:

The bizarre thing is that there are continual price increases!

beat me too it - in the last 18 month my GP watch has gone from £5700 to £10100, with the last rise a few month ago?

are they trying to dig their own grave?

Didn't think they're that bold!

[gilford]

The price increase is to do with euro against the pound mostly. Dont complain, it means our watches are actually going up in value!

[matc]

I hope they bring in the Government Scrappage scheme....£2k towards a new watch might come in quite handy!!

[Fittster]

ShadownINja said:

The bizarre thing is that there are continual price increases!

I've always assumed that's due at least partially to the weakness of the pound. For example a Rolex can be sold anywhere in the world which offers up arbitage opportunities.

[Asterix]

Aren't most of the Luxury brands now owned by the Swatch Group?

Or something.

[Fittster]

Someone once posted a link to a page detailing who owned which brands.

LVMH own TAG and Zenith.

From Wiki:

The Swatch Group owns several companies which do research (Asulab, EM Microelectronic-Marin, Oscilloquartz SA), produce movements (ETA SA, Valjoux, F. Piguet), produce pieces of watches (Comadur), and numerous watch brands, including Breguet, Blancpain, Jaquet Droz, Glashütte Original, Union Glashütte, Léon Hatot, Omega SA, Tiffany & Co., Rado, Longines, Swatch, Tissot, Calvin Klein, Certina, Mido, Pierre Bal-main, Hamilton, Flik Flak and Endura.

[Ari]

gilford said:

The price increase is to do with euro against the pound mostly. Dont complain, it means our watches are actually going up in value!

So when the exchange rate changes in our favour the price of all these watches will fall..?

[Tazza]

Steve748 said:

I have always hankered after a moon phase and looking through some of the websites I came across a JLC that ticks the boxes being thin at 6.5mm, automatic with a metal strap rather than a leather one
http://www.bacario.com/Details.asp?ProductID=5748

I recently bought one of those (Leather strap - I think it looks far better than the metal, but that is all about personal taste!)and it is fantastic. However, it is NOT as thin as you say. I'd guess it is at least twice as thick as that. Dom H got mine for me.

[Steve748]

Tazza said:

Steve748 said:

I have always hankered after a moon phase and looking through some of the websites I came across a JLC that ticks the boxes being thin at 6.5mm, automatic with a metal strap rather than a leather one
http://www.bacario.com/Details.asp?ProductID=5748

I recently bought one of those (Leather strap - I think it looks far better than the metal, but that is all about personal taste!)and it is fantastic. However, it is NOT as thin as you say. I'd guess it is at least twice as thick as that. Dom H got mine for me.

After a lot more searching I have found this http://www.watches.co.uk/watch.php?wid=8296S which is the one I prefer and Dom H tells me is a thinner watch than the latest one you have. I'm only thinking metal strap as opposed to leather as I have been wearing a stainless bracelet strap for the last 30 yrs or so. Looks like it will have to be leather with the older model.

[Tazza]

The perpetual was above my budget. The master calender is a lovely piece of kit though. I have an IWC Aquatimer with a titanium bracelet which is partly why I was looking for a leather strap with the JLC. Interesting that the perpetual is actually thinner than the Master calender - I'd assumed it would be thicker (although I'm not sure why!!)