Does this sound familiar? Swiss watch sales hit a record $37b despite half the number being made

[El Presidente]

 

 

Swiss watch sales hit a record $37b despite half the number being made

Exports of swiss watches, considered the industry barometer, totalled 23.7 billion Swiss francs ($37 billion) last year, a record high. It means just on CHF2 billion worth of watches, wholesale, departed that country’s shores each month.

But here’s the thing; this was achieved despite unit sales declining. About 15 million pieces accounted for the figure, almost half the number of watches being sold (28  million) as recently as 2015.

[Wookie]

Tulips? Crypto? 

[Slayer]

This checks out, as most exported models now are upgraded with more accurate timekeeping materials (diamonds).

At least that industry gets extra bling, ours get extra bands 😐

[Hammer Smokin']

I suspect you'll find similar articles for other hyperinflated luxury goods. 

cars, spirits, watches, cigars, name your luxury good. 

[Baccy]

  On 3/26/2023 at 11:04 PM, Hammer Smokin' said:

I suspect you'll find similar articles for other hyperinflated luxury goods. 

cars, spirits, watches, CUBAN cigars, name your luxury good. 

Expand  

fixed*

[BrightonCorgi]

Rolex is around one million watches annually by most industry analysts. 

[Grateful13]

 

  On 3/26/2023 at 11:04 PM, Hammer Smokin' said:

I suspect you'll find similar articles for other hyperinflated luxury goods. 

cars, spirits, watches, cigars, name your luxury good. 

Expand  

Many or most of these are not “hyperinflated”.  If anything, retail is below market price in many instances, at least for Rolex and the top luxury brands that are in demand.  Though I guess you may say brands that aren’t at top are still over inflated. But not the actual top brands.  

You can’t walk in and buy a Rolex at retail.  Just like how Cohiba still sells out on 2424 almost every time despite the price hikes and, vitola availability at LCDHs keeps getting worse and worse. 

[Hammer Smokin']

hyperinflation isn't relating to actual price vs market price (at least not in the traditional sense). 

It merely refers to items that have had substantial increases in retail cost, over a number of steady increases. (not just one big increase, or even two). 

I don't disagree with what you are saying, it just doesn't really refute hyperinflation. 

[99call]

I can't for the life of me understand why people keep going biserk about luxury brands skyrocketing during the last few years when the very wealthy have seen their assets go through the roof. 

White collar crime had a field day during covid, it was theft central.

Yes it's crap for us normal folk that might have expensive tastes, but I have zero sympathy for wealthy people complaining about the price of cigars and Champagne when their bank balance's are also exploding. 

In the 1980's American Psycho types used to enjoy splashing the cash, and pouring their cash down the drain of excess......... what changed?   

   

[gillmiller]

  On 3/27/2023 at 1:23 PM, BrightonCorgi said:

Rolex is around one million watches annually by most industry analysts. 

Expand  

Wow! Didn't know the number is so high. And i am actually one of their clients too. Was just checking luxiry watch store and looking into couple of different pieces from Mio jewelry. Still have no idea how i can make my final choice. There are so many factors i should consider and there are so many great models on their website.