Why is an expensive watch not part of the American Dream?

Why is an expensive watch not part of the American Dream?

Postby Racer-X » December 23rd 2017, 2:59am

by CORINNE GRETLER, STEPHANIE WONG AND MENGCHEN LU "Because they’d rather have a car, is the easy answer, unlike their Asian counterparts, some of which are reminded to ‘cherish time’ by a good wristwatch"

The US economy is booming, unemployment is low and the White House is occupied by a president synonymous with ostentatious luxury. Why, then, have Americans stopped buying expensive watches?

Swiss watch exports to the US fell 0.4% in November, extending the decline for the year so far to 4% after a 9% drop in 2016. By contrast, sales surged 40% for the month in China — the biggest jump in almost three years — as the industry recovers from a multi-year slump."

Article at Business Day
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Re: Why is an expensive watch not part of the American Dream

Postby foghorn » December 23rd 2017, 4:36am

In my 50 plus years of watch ownership, whether or not a watch was "expensive" had no factor in my liking it. I have , many times , favored watches costing far less than my most "expensive" watches.
Maybe Americans have found out that a watch doesn't have to be "expensive" to satisfy whatever the fuck they are trying to satisfy or project whatever image they feel the need to project based on what freaking is riding on their wrist.



The likes of Rolex,Omega,et al, should be more worried about Daniel Wellington than they should of cheap fakes.
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Re: Why is an expensive watch not part of the American Dream

Postby Hawk » December 23rd 2017, 6:44am

The authors at Business Day derive a conclusion not necessarily connected to the fact they're using to justify the conclusion. They take a drop in Swiss sales to North America as indicative that mid to high end watches in general aren't selling well.

Swiss watch sales are down 4% in the US. Fine. Where have sales of Grand Seiko and Credor gone? In the recent past one had to bootleg the product and today GS has ADs sprouting like mushrooms across north America. There's one near me and I live in the middle of an orange grove.

I would suspect that GS / Credor / Royal Orient / Citizen Chronomaster sales make up a very small portion of sales but the decline the article addresses isn't particularly large either. It seems "statistically insignificant" relative to US sales.

Just maybe the market hasn't declined at all. Maybe the Swiss have simply lost their stranglehold on it?
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Re: Why is an expensive watch not part of the American Dream

Postby TemerityB » December 23rd 2017, 9:55am

Any industry that uses a .4 percent down export month as a "slump" can kiss my hairy ass. Maybe there's enough inventory at the retailers. I get so sick of reading Swiss down this and Swiss down that, when they're still raking in billions. The watch industry is fine. You couldn't shoehorn more people into the two watch events I attended this year. The interest is still there, and it can't be quantified in sales figures for a period. There's 1,546,495 "expert watch reviewers" on YouTube. There's 4,000 brand boutiques in NYC. I've been tuning out the sales stuff for months; I'm not buying the hype. I'm sick of listening to healthy, rich people whining.
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Re: Why is an expensive watch not part of the American Dream

Postby conjurer » December 23rd 2017, 10:05am

TemerityB wrote:Any industry that uses a .4 percent down export month as a "slump" can kiss my hairy ass. Maybe there's enough inventory at the retailers. I get so sick of reading Swiss down this and Swiss down that, when they're still raking in billions. The watch industry is fine. You couldn't shoehorn more people into the two watch events I attended this year. The interest is still there, and it can't be quantified in sales figures for a period. There's 1,546,495 "expert watch reviewers" on YouTube. There's 4,000 brand boutiques in NYC. I've been tuning out the sales stuff for months; I'm not buying the hype. I'm sick of listening to healthy, rich people whining.


Well said. A less than a half a percent drop certainly isn't a cause for panic. An important thing to remember about sales of high-end watches is that they durable goods; most guys will pick up a new Rollie because their bonus check happened to be good for the year, and once they have that Date-Just in gold on their wrist, most of 'em will wear the thing until they die. Most people aren't collectors, and are probably happy with a watch that works well, looks good, and projects their success, and there ain't a whole lot of watches that do that better than a Date-Just in gold. Also, most luxury sales trends are tied to the news and the economy--when things are a bit up in the air, rich guys, just like middle class loads like me, will put that expensive purchase on hold for awhile.
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Re: Why is an expensive watch not part of the American Dream

Postby Thunder1 » December 24th 2017, 7:01am

Have to disagree a little with the author of this article in this one aspect..in my neck of the woods, owning a Rolex is an indication to many that 'one has made it' in American society..owning a Rolex may not be the 'American Dream', but it is still a status symbol..
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Re: Why is an expensive watch not part of the American Dream

Postby biglove » December 24th 2017, 7:59am

Thunder1 wrote:Have to disagree a little with the author of this article in this one aspect..in my neck of the woods, owning a Rolex is an indication to many that 'one has made it' in American society..owning a Rolex may not be the 'American Dream', but it is still a status symbol..



Same here, Thunder. The vast majority of those that own a luxury watch here just own that one watch. And they will wear all their lives and then hand it down to a kid or grandkid.
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Re: Why is an expensive watch not part of the American Dream

Postby Thunder1 » December 24th 2017, 8:30am

^^Yep..
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Re: Why is an expensive watch not part of the American Dream

Postby smellody » December 24th 2017, 10:21pm

Will always be part of mine and will always be Rolex. Even if I ever become successful!
   
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