Omega raising Gold prices March 1st

[Edfrozen]

I've heard from multiple sources that Omega , for whatever reason is raising the price on their gold watches by approximately 5% on March 1st
With the prices in the secondary market of gold watches soft ( also Rolex gold watches) , I do not understand . Could someone please enlighten me?

[Tanalasta]

Omega has been slowly creeping prices upwards. As has many other brands.

Reasons? Profitability vs market perception of the brand etc etc. and because they can!


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[2001jesper]

Makes sense - always found the 321 canopus gold to be underpriced anyways

... Anyone seen a grey price on that reference btw? would interesting to see a "marked" price

[1William]

Interesting. I have always found secondary market prices for Omega watches the way to go. This will just lend itself to helping the secondary market.

[ap1]

It’s an insane decision, for sure. Full Moonshine speedies are already under 30k in several places I’ve seen.

I bought the Canopus gold speedie near launch a few years ago. I think I got 27% off. The price then exploded another 11k though of msrp. I think I lost 1k on the sale. It’s gotta be much worse now for buyers at the increased starting price

[samson66]

Ridiculous. Sorry Omega, not paying that. This will be like the third substantial price hike in the last year.

[TunaTuna]

Omega is not self aware. They confused a hot watch market with the brand doing well.

Great watches no doubt, but still a value brand. Better off buying pre owned

[Edfrozen]

My 2 cents is that Omega knows something we don't . That may be that gold prices may rise this year.
Gold bugs are saying $3000 an ounce by the end of 2024

[TunaTuna]

Originally Posted by Edfrozen

My 2 cents is that Omega knows something we don't . That may be that gold prices may rise this year.
Gold bugs are saying $3000 an ounce by the end of 2024

The price of gold is not as big a determiner of PM watch prices as you think

[Fleetlord]

Originally Posted by TunaTuna

Omega is not self aware. They confused a hot watch market with the brand doing well.

Great watches no doubt, but still a value brand. Better off buying pre owned

Absolutely. They are hopelessly out of touch.

[hojlund]

Originally Posted by Edfrozen

My 2 cents is that Omega knows something we don't . That may be that gold prices may rise this year.
Gold bugs are saying $3000 an ounce by the end of 2024

even the best financial analyst cannot predict the gold price accurately, let alone a watch manufacturer.

[fooey]

Originally Posted by Tanalasta

Omega has been slowly creeping prices upwards. As has many other brands.

Reasons? Profitability vs market perception of the brand etc etc. and because they can!


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Slowly?!?!

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[IFlyPlanes]

I heard the same. It's a bit tone deaf in this market as Rolex is becoming more available and luxury demand in good is shrinking.

I do know that Omega is also looking to open more boutiques and reduce the amount of ADs so they are more than likely looking to control pricing.

[fooey]

Omega boutiques don't give any discounts!
They will sell about 2 watches a week!! There must be a right plonker in charge!

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[samson66]

Originally Posted by fooey

Slowly?!?!

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Exactly! There's been nothing slow or creeping about Omega's price increases the last year or so. The watch I was looking at, the panda moonshine Speedmaster was $36,500 when released less than two years ago (which was already pricey). The same watch is $43,700 now (+20%) after two price increases and is about to go up yet again apparently next month.

Love the watch, and no way am I paying that kind of money for it. Strange move for a company where most of their watches are available at 30%+ off MSRP in the pre-owned market.

[Yellowfury]

These price hikes have got to end. Omega hasn’t been “worth” retail for a long time.

[thegrandseirolexguy]

If Bought preowned, omega is a great value proposition.

But at MSRP…nah.


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[RW16610]

Originally Posted by thegrandseirolexguy

If Bought preowned, omega is a great value proposition.

But at MSRP…nah.


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Agreed. I'm a huge fan of the brand and own several steel watches. However, it does make me wonder where things will be price wise in say the next 5 years or so.

[ap1]

Moonshine panda 44.8
Canopus 55.5
Lol

[1William]

Originally Posted by ap1

Moonshine panda 44.8
Canopus 55.5
Lol

Dream prices.

[Edfrozen]

Where is the gold price going ? No one knows . Are other companies going to raise the price of precious metals ? Bitcoin ? What does this say about the credibility of paper money ? Maybe a gold watch will be more precious than paper currencies??

[ap1]

Originally Posted by Edfrozen

Where is the gold price going ? No one knows . Are other companies going to raise the price of precious metals ? Bitcoin ? What does this say about the credibility of paper money ? Maybe a gold watch will be more precious than paper currencies??

If that’s your view than scoop up all the PM speedies at .65 of msrp on secondary

[samson66]

Originally Posted by ap1

Moonshine panda 44.8
Canopus 55.5
Lol

Insanity

So three price increases in less than two years since the Moonshine Panda was released

$36,500 --- $44,800

+23%

Omega you have lost your collective minds! No thank you...

[gamingdoctor]

I love omega watches but at MSRP they are absolutely terrible value. I also don't think watch value is proportional to gold value.

[YouFoundtheDeal]

That is a good point.