Buying Watches: Patek vs Bulgari: Omega vs Rolex; Hong Kong Protests & Buying Watches Online

Watches Tonight with Tim Mosso returns for a wide-ranging discussion of buying luxury watches and collecting watches in the era of e-commerce, brand rivalries, and Hong Kong political unrest. Tonight’s show spans a discussion of Omega vs Rolex, Patek Philippe (Nautilus) vs Bulgari Octo (Finissimo Automatic), why watch buyers don’t buy new watches online, and the impact of Hong Kong democracy demonstrations on Swiss watch exports.

Patek Philippe’s Nautilus 5711 in stainless steel is the watch of our moment. More than any Audemars Piguet Royal Oak or Rolex Daytona, the Nautilus is “exhibit 1” evidence of an imbalance in current luxury watch markets. A $30,620 watch that sells used for twice that number, the Patek Philippe Nautilus has become a metaphor for asset bubbles among luxury goods. Given that irrational escalation, should watch buyers consider the celebrated Bulgari Octo Finissimo Automatic as a Nautilus alternative? Tim explores the parallels and differences between these two base metal, full bracelet, 40mm, automatic, ultra-thin sports watches.

Omega vs Rolex is time-tested rivalry. Collectors of both watch brands are partisans in general and enthusiasts of specific models in particular. But the 2019 Omega Seamaster Aqua Terra GMT Worldtimer is a newcomer to the rivalry. How does the new Omega watch compare to the long-running Rolex Explorer II 216570? Tim discusses the features, fit, and pricing considerations for a viewer who is shopping these two watches.

Why don’t luxury watch brands sell more watches through their online stores? Tim explores the complex relationship between online watch buyers, discounts, watch variety, and collector intensity. In short, the kind of watch buyer who prefers to buy watches prioritizes price and variety over most other factors. This kind of watch enthusiast is interested in vintage watches, discontinued watches, and lower prices than new watches bought at boutiques; this kind of watch buyer is passionate and wants to talk at length with a watch seller prior to making a purchase. Watch manufacturer websites offer none of this.

The kind of watch buyer who prefers to buy new watches values the pampering, client perks, and personal attention that can be found at a physical watch brand boutique or authorized dealer; that experience is not available on e-commerce factory stores.

Finally, Tim discusses the effect of Hong Kong political unrest on Swiss watch sales. Since the beginning of Hong Kong citizen protests in late March, anger over an extradition bill with Mainland China has led to accelerating violence, police deployments, mass demonstrations… and declining luxury goods commerce. For the month of June in particular, Swiss watch exports to Hong Kong – normally the largest national market for Swiss watches – dropped 26.8 percent. Due to the fallout from Hong Kong’s tense standoffs, the United States surpassed the semi-autonomous city state as the largest national market for Swiss watches in the month of June.

All of this content and watch collector wrist shots are on Watches Tonight!


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