Price Jump

[Flyjet601]

I was downtown today doing some shopping. I stopped by my AD to have a look at some watches...just window shopping.
I noticed the price on a SS GMT II and SS Sub had jumped about $8500 HKD(Hong Kong dollars)...which would cost now about $38500 HKD($4900 USD). I had been told that the priced had increased, it is just terrible to see it. I am sure you can deal it down somewhat.
Although the price on a TT GT or TT Sub only increased about $2000-3000 HKD. Go figure......

I still think that HK and Macau are one of the better places to buy a Rollie, but it is terrible to see that price jump on old stock that is sitting in the window.......

[montecristo]

It went up over 1K us on the GMT II!?

[charles]

Originally Posted by montecristo

It went up over 1K us on the GMT II!?

[leopardprey]

I thought HK only had a 10% price increase?

[leopardprey]

What was the new price for Black faced Explorer IIs?

Thanks,

[Flyjet601]

Originally Posted by leopardprey

What was the new price for Black faced Explorer IIs?

Thanks,

I saw the SS sports series(GMT, Sub, SD and Exp) all around the $38000-39000 range.
SS DJ 116234 around $41000 HKD

But the TT and YG, WG watches didnt go up that much.

[JJ Irani]

That price hike is pretty horrendous, Larry!!

Hey, just out of curiosity, what's the List Price for a new TT Blue Sub in HK$ and what would be the final, discounted, out-the-door price (also in HK$)?

I think 1US$ = HK$7.4? Please correct me if I'm wrong!

Thanks - JJ

[Flyjet601]

Originally Posted by JJ Irani

That price hike is pretty horrendous, Larry!!

Hey, just out of curiosity, what's the List Price for a new TT Blue Sub in HK$ and what would be the final, discounted, out-the-door price (also in HK$)?

I think 1US$ = HK$7.4? Please correct me if I'm wrong!

Thanks - JJ

$1 USD = $7.8 HKD....I just use 8 to keep the math simple.

I will have to check the exact price but if I recall they are around $55000 HKD.
Although I did see one in a shop window(not an AD), it was wrapped in plastic like new ones and it had a price of $37000 HKD.... . I will go back to have a closer look at that one for sure. But my spider senses are tingling.....living over here you get pretty good at spotting fakes, and you dont find fakes in store windows. Just frankenwatches or pre owned.

[quinson418]

I thought the Sea Dweller just increased to HKD$39000 earlier this month.
If a GMT Master II costs HKD$38500, how much is the new price for a Sea Dweller, just really curious. If they increased again, that would be the second time they increased the price in a month, that is just crazy.

The prices above are before the 10% discount.

[Flyjet601]

Just clarify...

A SD in Dec 2006 was about $31000 HKD.....as of Jan 07 they jumped to about $39000 HKD.

That is actually more than a 10% jump, its almost 30%. I think what the AD was trying to tell me was an average of 10% across the board. But obviously some models went up more than others.

[montecristo]

They are trying to close the pricing gap between asian msrp with the rest of the world.

[quinson418]

I just did my research on the prices from Hong Kong:

Before January 9, 2007 [Old Price]:
Sea Dweller: HKD$35350 / USD$4532.
GMT Master II: HKD$34120 / USD$4375

January 9, 2007 and after [New Price]:
Sea Dweller: HKD$39000 / USD$5000
GMT Master II: HKD$37150 / USD$4762.

Please apply 10% discount to the above prices to reflect out-the-door price.
================================================== ========

I purchased my SD from an AD for the old price at HKD$35350 and with the 10% discount, I paid HKD$31815 / USD$4078 for it.

I have heard rumors about price increases in Hong Kong again soon, but like most of the people here would say, you really won't know until it happens.

[leopardprey]

So the prices you are giving are the sticker price in HKD, but the ADs are all giving 10% discounts still. They were all giving 10% discounts in December.

[montecristo]

Originally Posted by leopardprey

So the prices you are giving are the sticker price in HKD, but the ADs are all giving 10% discounts still. They were all giving 10% discounts in December.

10% is standard, paying cash automatically give you another 4-5% depends how they round the number up, if you press enough its not hard to get 20-30% off on TT or Gold models, easier for return customers to get 20%+ discount, even on SS models.

[quinson418]

Originally Posted by montecristo

10% is standard, paying cash automatically give you another 4-5% depends how they round the number up, if you press enough its not hard to get 20-30% off on TT or Gold models, easier for return customers to get 20%+ discount, even on SS models.

With my purchase on December 2006, I paid cash and didn't get any additional discount other than the 10% standard. I guess it is easier to get a little bit more discount on two-tones and gold models since their prices are higher.

With the old price, 20% off the MSRP for Sea Dweller, it would be HKD$28280 / USD$3625.
With the new price, 20% would make HKD$31200 / USD$4000, that is a pretty crazy price for a BNIB from an AD comparing to ADs from the United States, being +51K and plus sales tax.

Being a returning customer definitely bring some benefits but that kind of discount is really a killer. Hopefully I can test that out when I go back this coming Christmas for my GMT Master II.

[quinson418]

Originally Posted by leopardprey

So the prices you are giving are the sticker price in HKD, but the ADs are all giving 10% discounts still. They were all giving 10% discounts in December.

Like I mentioned, I received the 10% discount and it should be applied to the prices I posted above.

I am sure they are even giving out more than 10% discount now since the prices just increase and people will be bxtching about it.

[leopardprey]

I bought 2 Rolex watches in December 2006 as well in Hong Kong. Plan on returning back in a couple of months and Buying either a GMT II or Explorer !! Black Face, and maybe a Sub with Date.

Hong Kong is the only big city in the World I care for. Expensive city, but great city!

[rebzes]

Larry if you could, find the bottom line on a tt blue sub date in yout neck of the woods....Thanks Roman.

[quinson418]

Originally Posted by leopardprey

I bought 2 Rolex watches in December 2006 as well in Hong Kong. Plan on returning back in a couple of months and Buying either a GMT II or Explorer !! Black Face, and maybe a Sub with Date.

Hong Kong is the only big city in the World I care for. Expensive city, but great city!

Which 2 do you own now?

[mansion]

I have finally purchased my first Rolex (GMT II), for my 45th.

I wish I'd bought it for my 40th: the price has gone up by 35% (in Swiss francs).

[montecristo]

Originally Posted by quinson418

With my purchase on December 2006, I paid cash and didn't get any additional discount other than the 10% standard. I guess it is easier to get a little bit more discount on two-tones and gold models since their prices are higher.

With the old price, 20% off the MSRP for Sea Dweller, it would be HKD$28280 / USD$3625.
With the new price, 20% would make HKD$31200 / USD$4000, that is a pretty crazy price for a BNIB from an AD comparing to ADs from the United States, being +51K and plus sales tax.

Being a returning customer definitely bring some benefits but that kind of discount is really a killer. Hopefully I can test that out when I go back this coming Christmas for my GMT Master II.

You bought from 周生生 or 周大福 right?
I have found the jewelery store rolex AD less consistent with their discounts, I have no experience buying from them but family and friends of mine had all kinds of different pricing from these store, ranged from 15-30% off various models (Mostly DJ and a few DD) that and I don't like the fact that they have a higher turnover with their sales staff.

I prefer buying a watch from a watch store personally, that and buy it from one of their senior staff thats been there forever, not some young 20 something salesgirl who is trying to close the sale without thinking about keeping you as a returning client.

The SS part made the SD harder to discount, but being that its thicker and less desirable than the Sub in HK, you should be able to squeeze more than 10% if you play your cards right, cash in hand and don't let them know you are a tourist, if you are chinese its easy, even if you are not, pretend that you are an expat and works in hong kong to at least suggest that you will be back in a few months for more.

[nko51]

Are these price increases the October 2006, or is this a new round of increaes.

.......................--::**::--..Rolex Forever..--::**::--.........................
...............I KNEEL IN THE LONG SHADOW OF YOUR GREATNESS.............

[quinson418]

Originally Posted by montecristo

You bought from 周生生 or 周大福 right?
I have found the jewelery store rolex AD less consistent with their discounts, I have no experience buying from them but family and friends of mine had all kinds of different pricing from these store, ranged from 15-30% off various models (Mostly DJ and a few DD) that and I don't like the fact that they have a higher turnover with their sales staff.

I prefer buying a watch from a watch store personally, that and buy it from one of their senior staff thats been there forever, not some young 20 something salesgirl who is trying to close the sale without thinking about keeping you as a returning client.

The SS part made the SD harder to discount, but being that its thicker and less desirable than the Sub in HK, you should be able to squeeze more than 10% if you play your cards right, cash in hand and don't let them know you are a tourist, if you are chinese its easy, even if you are not, pretend that you are an expat and works in hong kong to at least suggest that you will be back in a few months for more.

I bought from Chow Tai Fook. I have heard stories that those watch stores would actually sell pre-owned or used Rolex watches as new ones then of course it really depends on the type of store. I am a local, Hong Kong being my hometown, I still don't know how to bargain with the prices.

Going to stores like Chow Tai Fook, getting a standard 10% over the already low MSRP is pretty much all I can get and at the same time makes me feel good about the watch. I really got great service and last week I found out that they forgot to give me the Rolex certificate holder, I called the AD and had my Dad go pick it up for me. Got an Rolex passport holder as an additional item as well, which made me happy.

Thanks for the advice on how to go down with the prices, I will try that on my next purchase since now I have more experience.
When are you going back to Hong Kong?

[montecristo]

I don't have any plans as of yet, but I will definitely need to make a trip out to Shanghai, currently I am thinking about may or june and I will stop by hk on the way.

It would be pretty difficult for an AD to sell you a used rolex as new. Most people buy a rolex from ad even with open papers gets a dated cert. And each watch only comes with 1 cert. I know you can buy preowned open paper dated cert for less, and still probably be able to get rolex to honor the warranty.

[greenfan]

I'm so glad I've already bought mine.......

[JJ Irani]

Originally Posted by greenfan

I'm so glad I've already bought mine.......

Me too....err, I mean me two!!

[Flyjet601]

Originally Posted by rebzes

Larry if you could, find the bottom line on a tt blue sub date in yout neck of the woods....Thanks Roman.

I have seen them for about $56000 HKD($$7200 USD) but you can talk him down to about $6500 USD.

[A. Jacobs]

Originally Posted by Flyjet601

I have seen them for about $56000 HKD($$7200 USD) but you can talk him down to about $6500 USD.

$7,200.00?????
They are $7,825.00 over here.

[Flyjet601]

Originally Posted by A. Jacobs

$7,200.00?????
They are $7,825.00 over here.

Thats the sticker price. I know you can get them down to about $6500 or so.....

[montecristo]

For those who wonder why HK has the cheaper price for rolex watches or anything in general (I can get Japanese electronics cheaper in HK than in Japan, the MSRP for PS3 in HK is the lowest worldwide as well.)

For those who are not familiar, HK a small city yet has more Rolex AD than the entire US east coast combined.