Expensive watches on boats.

[SC35]

I'll stick to my early 1960's Seiko copy of an Omega. The first model Seiko sold.

Speedo Ken, the guy who repaired/renovated/restored the Bonniksen, Jageur and Smiths chronometric speedometers for our Classic Motorbike business, serviced it for me and told me it was a paragon of the watchmakers art. He said it was the first commercial watch Seiko made on brand new kit purchased from Switzerland and was as good as anything he had ever seen.

As he was I/C the instrument department at AWRE Aldermaston and was a time served watchmaker I thought he knew what he was on about! He was, in the days before electronic timings, responsible for hundreds of fine remote triggered stopwatches accurate to small fractions of seconds, used in experiments for timing the sequence of events in starting a nuclear explosion!

Alan Millyard, the guy who makes those exquisite multi cylinder motorcycles served his apprenticeship under Ken.

I found the Seiko while looking around Oxford for employment oppertunities in 1969. Handed it in at the Police Station - the one in the early 'Morse' TV series. No-one claimed it so I ended up with it. The local Seiko agent ordered me the OE faux crocodile black strap to replace the broken S/S bracelet.

Had it ever since, wear it it black tie do's. Keeps perfect time, never missed a beat.

The watch I choose to wear at the moment is a 20 Euro Sexton Blake (Cockney Rhyming Slang) Rolex copy, bought from a 'looky looky' man on the beach at La Calle, Mijas Costa, Marbella, this January.

Great value for money, looks great but pretty sure the gold will rub off soon.....................................

Yes to that Seiko, a definite no to the Sexton Blake Rolex - there really is no point.

 

[Norman_E]

I would not have a super expensive watch on a boat, no matter how waterproof it was. I used to sail wearing a Citizen Eco Drive, of the older type that had no separate removable back, but even that was nearly lost when the stainless bracelet came apart, and it fell onto a pontoon, just avoiding falling between the wooden slats. Same watch now has the bracelet from a cheap Casio watch.

EDIT. The best mechanical watch I had was a Universal Geneve Polerouter from the late 50's or early 60's which I obtained second hand. I got it cheap because the bracelet had failed, and had a new strap fitted. It was one of the thinnest self-winding watches of its era, and very good quality. I wore it for years but in the late 70's or early 80's I stopped using it in favour of a newer watch, and it has since been lost. A pity because it was such a neat watch, and worth many times what I paid for it.

 

[KREW2]

No point of having a nice watch if you don't wear it. Mine stays on my wrist.

 

[Refueler]

You sure about that? I have a seiko 5 and that part is metal, unless I misunderstand the part you’re referring to. Mine has a glass back so you can see the workings - perhaps on those models a metal winder was installed for form’s sake.

My Seiko 5 from about 1982 'ish has the plastic 'flyer' ... and ring. Unfortunately - it was stolen so I cannot show you ..

 

[lustyd]

No point of having a nice watch if you don't wear it

I wouldn't say that's true at all. Watches are exempt from CGT and that's the main reason wealthy people buy them, same with artwork and cars as well as gold coins (as opposed to bullion which does attract CGT).

 

[SC35]

I would not have a super expensive watch on a boat, no matter how waterproof it was. I used to sail wearing a Citizen Eco Drive, of the older type that had no separate removable back, but even that was nearly lost when the stainless bracelet came apart, and it fell onto a pontoon, just avoiding falling between the wooden slats. Same watch now has the bracelet from a cheap Casio watch.

EDIT. The best mechanical watch I had was a Universal Geneve Polerouter from the late 50's or early 60's which I obtained second hand. I got it cheap because the bracelet had failed, and had a new strap fitted. It was one of the thinnest self-winding watches of its era, and very good quality. I wore it for years but in the late 70's or early 80's I stopped using it in favour of a newer watch, and it has since been lost. A pity because it was such a neat watch, and worth many times what I paid for it.

Worth maybe £3k nowadays depending on strap and condition.
I can see the point of it ... quite slim and a decent mechanism.
It doesn't look at all dated: a classic design.

 

[Refueler]

Thinking of sought after watches .... the Soviet Submariners Watch ... created and made by Vostok / Zenit .... the true originals are worth the effort but hard to come by now ... (plenty of copies online .... )

To go with ::



Real .....

 

[ridgy]

The enthusiasts in the group should watch the Watchmakers Apprentice, the story of George Daniels and his protege Roger Smith.

It was on Netflix for a bit but now on Prime.

Trailer:

I'm not personally a fan of Rolex watches but interesting that since his watches are so valuable that he can't afford one himself, Roger Smith wears a Rolex day to day.

 

[Sailing steve]

Many 'luxury / high priced' items fall into this 'preferential line' scam.

A good example is a Porsche GT3s .... Dealers have developed a scheme where they only sell to a customer with a track history of repeat purchases ...

One or two dealers actually will 'suggest' you buy 3 lesser machines - sell back to them - then they MAY consider you for the GT3s .. the scam nets the Dealer a profit of over 100K .... countering the 3rd party market where a car would be bought from Dealer and then sold with delivery mileage for significantly higher price.

Don't believe it ? Plenty of online cases reported.

I'm astonished anybody would be that driven by desire for a particular item to agree to being extorted in that manner.

 

[SC35]

I'm astonished anybody would be that driven by desire for a particular item to agree to being extorted in that manner.

I think we can assume that Rolex know what they are doing, somehow managing $11bn in sales and something like half a billion in "profits" which are partially re-distributed via the Wilsdorf Foundation.

 

[Hot Property]

IWC MkXX Patrouille Suisse

Bargain!

 

[Sailing steve]

I think we can assume that Rolex know what they are doing, somehow managing $11bn in sales and something like half a billion in "profits" which are partially re-distributed via the Wilsdorf Foundation.

I'm sure Rolex know exactly what they're doing and, as Refuller pointed out Porsche and other high end brands are playing the preferential client game too.

What amazes me is there's enough demand among luxury goods clients at the higher end of the market to it to succeed.

 

[lustyd]

What amazes me is there's enough demand among luxury goods clients at the higher end of the market to it to succeed

The target market doesn't care, it's probably not even a personal purchase for a lot of customers, the family office will just buy assets as an investment. It's a completely different world than retail as the rest of us recognise it.

 

[obmij]

I'm sure Rolex know exactly what they're doing and, as Refuller pointed out Porsche and other high end brands are playing the preferential client game too.

What amazes me is there's enough demand among luxury goods clients at the higher end of the market to it to succeed.

They are both extremely good at what they do - that being quality design, innovation and manufacturing over a long period of time. In addition - rolex at least are the best in the business at sponsorship and marketing and have been so for over 100 years. They are highly visible in sailing and whatever outdoor sporting activity you are into the chances they will be there too and have been for a long time.

But what they do NOT do is have 'preferential client lists'. They literally have no idea who their customers are. I suspect Porsche and VAG group in general are the same.

Where you might get messing around is with the retailers who will try and leverage any kind of demand imbalance for extra profit as in the Porsche example above. It does not follow though that it is Porsche who are doing this - it is the dealer!

 

[Refueler]

They are both extremely good at what they do - that being quality design, innovation and manufacturing over a long period of time. In addition - rolex at least are the best in the business at sponsorship and marketing and have been so for over 100 years. They are highly visible in sailing and whatever outdoor sporting activity you are into the chances they will be there too and have been for a long time.

But what they do NOT do is have 'preferential client lists'. They literally have no idea who their customers are. I suspect Porsche and VAG group in general are the same.

Where you might get messing around is with the retailers who will try and leverage any kind of demand imbalance for extra profit as in the Porsche example above. It does not follow though that it is Porsche who are doing this - it is the dealer!

WRONG on the Porsche ticket .... Porsche are the instigators themselves of the practice .... their excuse is that they are battling against Gold Diggers buying at list price sought after cars such as the GT3s and then selling it with delivery mileage on it for more than 100K on top of what they paid.
Porsche have found a way of getting that 'profit' in their account.

 

[ghostlymoron2]

Since I've retired, I don't wear a watch except when I'm travelling. It gives me a great sense of freedom.
My friend has an expensive Omega or somesuch, he found that it cost him £500 to change the battery because it had to be returned to the manufacturer or the warrantee would be invalidated.

 

[Refueler]

Since I've retired, I don't wear a watch except when I'm travelling. It gives me a great sense of freedom.
My friend has an expensive Omega or somesuch, he found that it cost him £500 to change the battery because it had to be returned to the manufacturer or the warrantee would be invalidated.

Yep ... common clause in the warranty's on watches .... based on them resealing the watch to preserve its "water Ingress' rating.

Local guy to me - sadly he's passed on ... but he was 'old school' and you could tell his love for watches as he handled them. I spoke about this with him and he smiled ... moved a small pot across the bench and pointed at it ... THAT is what they charge you for ... as he smeared it around the case before putting the back on my watch ...
He personally g'teed the watch to the makers depth of water specs after doing that ... charge ? 20 euros for calibrating the watch (used his old soviet machine that matches the ticks of the watch ... ) .. and 2 euros for the resealing ...

 

[fredrussell]

WRONG on the Porsche ticket .... Porsche are the instigators themselves of the practice .... their excuse is that they are battling against Gold Diggers buying at list price sought after cars such as the GT3s and then selling it with delivery mileage on it for more than 100K on top of what they paid.
Porsche have found a way of getting that 'profit' in their account.

The way I understand it, Porsche are restricting sales of sought after models to people who repeatedly’flip’ them for profit.

In an interview with Car & Driver at the launch of the 2018 911 GT3, Andreas Preuninger – the Head of GT Road Car Development at Porsche – said, “I personally like to see my cars being used. That’s what we build them for. They are just too good to be left to stand and collect dust. I don’t like this business of people buying our cars to make money on them. That was never our intention. The purpose of limiting a car is not for it to gain value. We don’t want to be laying money on each car’s roof when they run out of the factory.”

 

[Refueler]

The way I understand it, Porsche are restricting sales of sought after models to people who repeatedly’flip’ them for profit.

In an interview with Car & Driver at the launch of the 2018 911 GT3, Andreas Preuninger – the Head of GT Road Car Development at Porsche – said, “I personally like to see my cars being used. That’s what we build them for. They are just too good to be left to stand and collect dust. I don’t like this business of people buying our cars to make money on them. That was never our intention. The purpose of limiting a car is not for it to gain value. We don’t want to be laying money on each car’s roof when they run out of the factory.”

Which is what I said all along ... Its a Porsche instigated action - not the Dealers.

The Video I linked to gets into depth about it ...

 

[obmij]

Did you watch the video you posted? Understandable if you didn't

At one point it is even said that if the salesperson who you deal with gets sacked there goes your history. How has that got anything to do with the manufacturer? It seems to me that if anything they are trying to cut out sharp practices by the dealers..