article to read

[Oceanklassik]

The Straits Times Life! Style, Friday - January 26, 2018

Luxury watches move online

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BASEL * Time does not stand still for those who sell watches.

So even as Richemont has built a conglomerate offering the world's wealthiest consumers the highest-quality product, often in the most luxurious of settings, the hour has come for it to make changes to tick strongly again.

It used to be that clients walking into a Cartier flagship or a Piaget boutique - both Richemont brands - could expect radiant smiles and impeccable service, with time being no object to perusing the wares on sale. Increasingly, though, well-heeled clients do not want that type of service. Cash-rich, time-starved, customers want their shopping to be done in a matter of seconds from their smartphones.

Richemont, which also owns upscale brands such as IWC, Montblanc and Van Cleef & Arpels, knows that times are changing. The Swiss luxury group has announced that it is doubling down on investments in high-end Internet retail, making an offer of about US$3.4 billion (S$4.5 billion) for online fashion retailer Yoox Net-a-Porter.

The surprise bid was a significant about-face in Richemont's strategy and an acknowledgement that wealthy consumers are increasingly comfortable buying an expensive watch with a click rather than a trip to an upscale store.

Personal luxury goods had been slower than other retails items to migrate online, but their Web sales rose 24 per cent last year, according to a study by Bain & Co. It also estimated that online sales of such products would account for 25 per cent of the market by 2025, compared with 9 per cent now.

Richemont, which was already restructuring how it sold its watch and jewellery brands, clearly hopes to capitalize on that growth. It is offering to buy the Yoox Net-a-Porter stock that it does not already own at a 25.6 per cent premium to the closing price last Friday. Yoox and Net-a-Porter merged in an all-share deal three years ago. At the time, Richemont was Net-a-Porter's controlling shareholder, and still holds about 25 per cent of the combined company.

Yoox Net-a-Porter owns and operates online retailers Net-a-Porter, Mr Porter, The Outnet and Yoox. It also operates e-commerce sites for more than 30 luxury brands, including Stella McCartney, Dolce & Gabbana and Chloe.

"Richemont aims to provide additional resources that further strengthen and accelerate YNAP's long-term leadership in online luxury," Mr Frederico Marchetti, Yoox Net-a-Porter's chief executive, said. "This means investing even more in product, technology, logistics, people and marketing."

With much speculation over the death of retail, the steady decline of department stores and the looming threat of online giants like Amazon, one bright spot in the shopping landscape has been businesses such as Yoox Net-a-Porter - high-end, multibrand e-commerce companies that have attained sky-high valuations.

Moda Operandi, the luxury online retailer based in New York, raised US$165 million in its latest round of funding in December, just a few months after Apax Partners bought a majority stake in London-based Matchesfashion.com, which had a valuation of roughly US$1 billion.

In May, LVMH Moet Hennessy Louis Vuitton, the world's largest luxury group, made its own foray into the sector with the boutique shopping website and mobile app 24 Sevres.

Just weeks later, however, Conde Nast closed Style.com, its own high-stakes experiment in online fashion retail, a lesson to companies such as Richemont that even the most reputable names in fashion can struggle if they arrive late to the game. But time waits for no one in the race to stay alive and Richemont has put money on the table.

- NYTIMES

[Oceanklassik]

the straits times used the correct term - alleges.

more importantly, it goes on to show that many singaporeans are very trusting people.

it is also mentioned somewhere that the owner of the watch is about to use the proceeds from the sale of the watch to buy a property.

What are you trying to say?

[triton]

the straits times used the correct term - alleges.

more importantly, it goes on to show that many singaporeans are very trusting people.

it is also mentioned somewhere that the owner of the watch is about to use the proceeds from the sale of the watch to buy a property.

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[Oceanklassik]

Man alleges prospective buyer stole Rolex watch

$35,000 watch listed on Carousell said to have been swopped for fake one at meet-up

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A property agent thought he was about to clinch a deal on his $35,000 Rolex watch with an interested buyer after listing it on online marketplace Carousell. But he later found out that the watch appeared to have been swopped for a fake one during a meeting with a buyer.

The 30-year-old man, who gave his name as Mr Tang Guoxian, told Chinese-language newspaper Shin Min Daily News yesterday that he had planned to use the money from the sale of the watch to buy a house with his fiancee. He has since made a police report about the alleged theft.

The police, in response to queries, confirmed that a report has been lodged and investigations are ongoing. Chinese-language newspaper Lianhe Wanbao reported that the watch was worth $35,000. Mr Tang told the newspaper that he was an active Carousell user and would often list Rolex and Panerai watches for sale.

He told Shin Min that the buyer had contacted him on Tuesday at about 5.45pm. As he was busy at the time, he told his fiancee to meet the buyer at the void deck of his Boon Keng Road home with the watch.

"After looking at the watch, (the buyer) said that he needed some time to consider and then left in a hurry," Mr Tang said.

He added that the buyer had insisted on placing the watch back into its box, and his fiancee did not think too much of his request. However, when he returned home later that night, he realised that the colour of the watch appeared different and that it also felt lighter. When he realised that he might have been cheated, he tried to contact the buyer but to no avail. He said the buyer has since shut all his social media accounts.

Determined to track him down, he went online and found the man's home address and mobile number. At the address, he met the buyer's mother at the door. When she heard that her son may be involved in the theft, the woman apologised to Mr Tang and even went on her knees to plead for forgiveness, according to Shin Min.

A man, who claimed to be the buyer's father, told Shin Min yesterday that he was shocked to hear of the case. He said: "My son is a good person. My family is disappointed to hear of the claims made against him."

- by Ng Huiwen

[ernie88]

Thanka for sharing!

[Oceanklassik]

Just reported hours ago:

http://www.businesstimes.com.sg/cons...es-second-hand

Wonder if the other big watch brands will follow suit?

[Marksim]

Thanks for sharing

[Beck]

Interesting. Tks.

[Oceanklassik]

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Romain Gauthier Insight Micro Rotor
"This is by one of the most talented watchmakers in the realm of artisanal watchmaking. Beautifully finished with a wonderfully designed movement, it boasts a micro rotor which is visible from both front and back. I'm a bit of a purist and like manual winding, but Romain Gauthier has don the micro rotor so beautifully that I find this superior to many manual winding pieces."

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Omega speedmaster 60th anniversary 1957 reissue
"A reissue of the 1957 classic, this is faithfully true to the original, down to its 38.6mm case. I think that's a good and smart way to commemorate one of the most important timepieces ever. The Speedmaster - the only watch approved by the National Aeronautics and Space Administration for manned space flights - was used by the crew of Apollo 13 to time a 14-second manoeuvre to put the craft on a safe trajectory back to Earth after it experienced a host of technical failures. It's like a runway winner. It will pull in new fans and allow them to subscribe to Omega's rich history."


by Wong Kim Hoh

[Oceanklassik]

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Audemars Piguet Royal Oak Perpetual Calendar Ceramic
"I believe Aumedars Piguet has the best bracelet in the business because it is so beautifully finished. Unfortunately, it also tends to be a scratch magnet. But with this model, AP has licked the problem by fashioning the bracelet from ceramic which, while scratch-resistant, is a very difficult material to work with. I also love this model because I think it has one of the most beautiful moon phases I've seen."

Singer Track1 Chronograph
"This watch, by a small independent watchmaker, reinvented the chronograph layout and did a grand job. It boasts a vintage vibe, inspired by elements of vintage dashboards. The time display is now peripheral; the chrono now commands centre stage. The radical change, however, has not comprised time telling. The styling works well, with the back case featuring the intricate movement that powers this watch."

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Lange 1 Moonphase in white gold (black dial)
"This is one of the strongest staples in the Lange collection. It boasts a black dial and a white gold case and comes updated with a new Lange 1 movement with a new day/night indication incorporated into the moonphase indication. The design is brilliant, with different hues of blue to signify different times of the day and a moon which almost looks three-dimensional."

Patek Philippe 5320 Perpetual Calendar
"This is inspired by the Ref 1591, a unique steel perpetual calendar which now resides in the Patek Philippe Museum in Switzerland. I love the 5320's Art Deco design, vintage vibes and solid construction. The layout is beautiful and extremely clean. The case is striking and the lugs, intricate. It also boasts unusual 'syringe' hands filled with luminous material."

[Oceanklassik]

Straits Times, Life! - January 12, 2018

Watch club founder on the best of 2017

Watch releases of recent years have been offering value for money, says the founder of Singapore Watch Club

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Mr Tom Chng (above), founder of the Singapore Watch Club, believes the luxury watch industry is in an interesting phase right now. It is struggling to come to grips with a downturn that has plagued it for the last couple of years. Before that, he says, the industry was booming, with fortunes spent on research, development and design.

"But now, we're looking at a lot less innovation. Watchmakers are becoming more conservative: producing in steel, scaling back production and going for facelifts and brighter colours as opposed to completely new horological designs," says the 29-year-old finance professional.

Other coping strategies include reissuing vintage pieces, lowering price points and introducing entry-level models. It is not necessarily a bad state of affairs, says Mr Chng, whose two-year-old club boasts about 70 members. They meet once a month to talk passionately about watches over beer and coffee at The Fullerton Hotel.

New watch releases in the last couple of years may not have been as horologically significant, but he says they offer, for example, value for money. "And a few of them are still quite groundbreaking, boasting R&D elements which have trickled down from earlier and better years," says the watch aficionado, who has been collecting watches for the past five years.

Here are his picks for the best watch releases last year:

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Ulysse Nardin Classico Enamel for Singapore Watch Club
"This is a special limited-edition piece commissioned by the Singapore Watch Club for its second anniversary last year. It features flinque - engraving done by hand or machine using a rose engine - enamel, a feature usually reserved for higher-end pieces. It also boasts a unique black dial as Ulysse Nardin enamel dials are typically white or blue. The watch has interesting lugs and also an in-house movement: the self-winding UN320."

[Oceanklassik]

do read this article to prevent accidental damage to your mechanical watch

Good read, especially beneficial for a newbie like me

Tx!

[triton]

some good practice to adopt for using your mechanical watches

do read this article to prevent accidental damage to your mechanical watch

[triton]

what is the right term for multiple rolex watches

when you have more than 1 rolex watch, is it called many rolex watches or rolexes or ....

click here to find out

[Oceanklassik]

In Life!, The Straits Times on Thursday, Dec 14, 2017

Luxury at a lower price

Many watchmakers are launching entry-level offerings to keep sales up

It is probably inevitable in a difficult market, but value is the new name of the game in the watch industry these days. That is hardly surprising. For the last three years, luxury mechanical timepieces have been plagued by back-to-back slumps for reasons ranging from the strong Swiss franc to China's crackdown on corruption.

Although recent spikes in Swiss watch exports indicate the market may finally be clambering out of a rut, industry players are under no illusions that they will soon be scaling dizzying heights again.

According to the Swiss watch federation, prices of luxury watches climbed by 53 per cent between 2005 and 2015. But in a gloomy economic climate, sky high prices are unrealistic and no longer tenable. Demand has not kept up. Bad times demand smart responses and many watchmakers are hoping to keep sales up with entry-level offerings.

They opt for steel instead of precious metals, pare down the bling and complicated features, and simplify movements without compromising on their brand's character, style and reputation.

About three years ago, Montblanc released the Heritage Perpetual Calendar which, at $16,800 in steel, is the most affordable perpetual calendar from a big name. Last year, Tag Heuer did the same with a tourbillon chronograph: the Carrera Heuer-02T, which retails for $21,800 in steel.

Other watchmakers are going for cheaper iterations of classic models. Earlier this year, Cartier came out with a whole range of Panthere de Cartier. The steel model starts at $5,500.

Here are a few entry-level offerings from major brands.

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by Wong Kim Hoh