MCG (Markus)
2505
I am not a Rolex Fan boy, I never owned one, because it‘s so „me too“, but you are indeed right! In so many ways!
May 12, 2024,19:17 PM
To „make it work“for a broader mass, you need to have a longterm strategy for the products, the quality of them, the service and the price. GP and many other brands don‘t have that.
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What GP management has been (and still is) overlooking
By: SingaporeMarc : May 11th, 2024-03:05
When Kering bought the Sowind Group in 2011, they had big plans for GP and it’s sister company JDR. Veteran Michele Sofisti was parachuted in from Kering. “Sofisti-cated” … he created a multi-pronged strategy. One centred around clarity of brand and model...
Interesting.
By: gary_g : May 11th, 2024-03:48
What issue was this in?
The link is
By: SingaporeMarc : May 11th, 2024-04:10
At the end of the post ☺️
Well, my friend, with GP there was a rule: Don't spend more than 0, 33 Cents of a dollar or you will loose money. It has always been like this. Less with U.N.
By: amanico : May 11th, 2024-06:23
Nothing new, here. No, for me, the main problem is that both GP and UN are looking for a second and vital breathe. Nothing interesting for years, we are still waiting for innovation, originality, creativity... We are expecting the WOW moment for many year...
☺️ for me it’s
By: SingaporeMarc : May 11th, 2024-07:06
Watch AND inventory (prices) control in conjunction. Brand image and reputation is paramount in luxury. Not just the watch. 🤝 Today in Singapore I saw the 42 mm AM green ceramic brand new being sold by a dumper at USD 18,000 before bargaining. That’s waaa...
Yes. And what does that tell you?
By: SingaporeMarc : May 11th, 2024-07:27
Time to look at other areas of the business. They are not just in the watch making business. They are in the watch business with all the different areas of inventory control, marketing, distribution and pricing strategy. GP fails in these depts. they make...
: ) Meany .... I was going to give them 2/10 for marketing
By: SingaporeMarc : May 11th, 2024-08:50
because they improved a little bit. OMG, Their heritage dept I would give a -4/10 Have they seen the likes of how seriously PP, VC and AP take their Heritage? The AP chronicles website is amazing. GP just says ... this is our heritage story on a few posts...
agree and also a mindset
By: SingaporeMarc : May 11th, 2024-08:53
It's not a priority for GP. They seem to let interns and such handle their marketing and heritage. At least by by the quality and professionalism of the content.
No one is buying GP for Msrp
By: ripper444 : May 11th, 2024-12:49
I expect 60% off pre owned then I'm in! Not sure why anyone would pay retail since the brand is basically not known to the public.
Some don’t know any better.
By: SingaporeMarc : May 11th, 2024-12:56
And some are buying them as sacrifice watches. The rest of us that are informed go to the secondary market if we want one. I’m sticking with neo vintage GP and avoiding any more production watches.
LOL!
By: amanico : May 12th, 2024-07:42
Yep...
By: amanico : May 12th, 2024-17:13
It’s usually the more expensive
By: SingaporeMarc : May 14th, 2024-01:26
Pieces like MTR’s 3 bridges that one could have expected a discount. In asia at least. But yeah, no more discounts from the ADs. Thanks to dumpers in bundle deals, 50 % discount on the secondary market. They buy at all MSRP at the AD and walk down the str...
Hi Marc ☺️
By: MTR : May 14th, 2024-06:38
I got a very small discount from the AD. But it was more of a total package because I also sold some watches back to my AD to finance this watch. My AD was more generous with the buyback prices for their used watch campaign, so I can't really separate the...
I hear and alway appreciate
By: SingaporeMarc : May 14th, 2024-08:42
you Thomas. I see the love you have for your 3 bridges and I see why. It is a darling. As for the secondary market prices for both their high Horology (such as yours) and the more main stream pieces such as the laureato … GP will have to deal with the bed...
I’m curious
By: SingaporeMarc : May 14th, 2024-01:10
When was the last time you asked an AD for the price of a laureato and if they will give a discount?
I last year in the fall.
By: MTR : May 14th, 2024-06:24
And I love my AD and really have a great relationship. 0%. In words: zero percent.
The reason I asked when
By: SingaporeMarc : May 14th, 2024-18:01
Hi Mike, The reason I asked is that were saying that you got a discount from the AD. Since 2022 or so, no more discounts allowed from the ADs. I assume you got your laureato prior to 2022 then? Best, Marc
For sure before 2022
By: MichaelC : May 14th, 2024-18:52
I would have to check exactly when. But the dealer I work with, I have a 20 year relationship. Maybe they don't discount for everyone, but I get everything at discount, except boutique purchases.
Just to add … why is Rolex so popular ?
By: SingaporeMarc : May 11th, 2024-07:10
Is it because they make amazing high complication watches with hand finishing? Are they even rare? No no. It’s because they control their prices. Both on the primary and secondary market and at auctions. Don’t forget that the majority of watch buyers are ...
Yes exactly.
By: SingaporeMarc : May 11th, 2024-07:24
The laws of economics tell us that with more volume, the price drops. That’s what’s so amazing about Rolex. 1.2 million watches and yet prices stable. The question is why? I believe it has nothing to do with amazing watches for them. It has to do with it ...
Rolex quality is superior.
By: gary_g : May 11th, 2024-12:10
I’ve had so many watch brands. Quality of product for Rolex is unmatched. Probably the best quality control out there. Accuracy and durability is unmatched. Rolex is always constantly innovating. Small changes that add up. I think that’s called consistenc...
No one is going to kill you rollie fan boy 😀
By: SingaporeMarc : May 11th, 2024-12:37
I’ll agree with you on the Rolex marketing and inventory management. We agree to disagree agree on the other points. Enjoy your watches in good health always ☀️ 🤝
That would really be something.
By: gary_g : May 14th, 2024-22:38
My problem is that I love most of their models. So once I own one, it’s almost impossible to let it go. I did recently sell my Starbucks, but only because I thought its size was just a little bit too big. 40 mm is really my limit.
A rich man and a poor man know Rolex
By: ripper444 : May 11th, 2024-12:54
But they also perfected their watches. They are accurate, durable, retain value, look good and comfortable. That's said they are boring. Once you owned one, you owned them all!
: )
By: SingaporeMarc : May 11th, 2024-12:57
Idk if I agree with your last point.
By: gary_g : May 11th, 2024-14:00
It certainly feels different to wear a sub vs Daytona vs gmt vs president. But one thing they have in common is they are widely recognized and high quality (even if “mass produced”) watches.
Ok bro
By: SingaporeMarc : May 11th, 2024-14:36
Congrats 👍🏻
Had them all.
By: ripper444 : May 11th, 2024-16:24
A sub and gmt seadweller yachtmaster Same watch circles with lume, same cases and same bracelets and benz hands Datejust Daytona daydate Same watch same case same bezels same dials and bracelets. Same movements. Ya sure they feel differnt due to size but ...
I’ve not bought a Rolex on 24 years of collecting
By: SingaporeMarc : May 12th, 2024-04:38
I’ve never liked the looks nor it’s being so common. If I’m spending several thousand on a luxury watch, I see so many other options. The biggest group of folks that speak to me asking for GP advice are folks that started with Rolex and now bored. Anyway,...
+1😔
By: hora12reborn : May 11th, 2024-11:24
I completely agree with you, make watches that people would want to buy.
By: als1678 : May 12th, 2024-00:25
You have laureato, truly iconic. But the current models feel dated. Refine the design, improve the finishing - the bracelet especially needs a lot of work. I am talking about refinements, not radical change. Then you will have a winner. Yes, the secondary...
A good insight
By: Weems@8 : May 11th, 2024-06:24
I followed UN. I know an AD who was for some years UN AD. At a certain moment he quickly started to delete UN watches from his website. Why i did follow UN and that AD, because i wanted a watch. In chrono 24 the UN watches flopped up and down. Yesterday i...
Many games being played
By: SingaporeMarc : May 11th, 2024-07:01
I agree. And folks they payed full MSRP only to layer learn they the same watch is being sold at half off on the secondary market. It pisses off the guy that paid full and turns a fan into the opposite. I don’t mind high prices. As long as they are consis...
For a fan like u, it is hard
By: Weems@8 : May 11th, 2024-08:15
For me also. I’d experienced the snobbish attitude of an AD recently. Perfect watches, but the people…. But not all AD’s are snobs, thanks God. When brands sell directly online to the customer, skip AD is fine, but getting discount is maybe a thing. I bou...
Yes. Painful for me to see the GP
By: SingaporeMarc : May 11th, 2024-08:22
Maison being abused this way. GP sales a watch via an AD at full MSRP…. How it is sold, many things going on. What happens to the watch is that it ends up on the secondary market brand new. Here is an example I saw today on our singapore buy and sell webs...
Ostrich in the sand effect
By: SingaporeMarc : May 11th, 2024-08:55
I talk to GP senior management often. They know all of this. I tell them and give them links etc. Hopeless. And I am fan of GP maison. Imagine how sad it is for me to say that.
Thank you. It is nice to know that we all want the best for GP.
By: SingaporeMarc : May 11th, 2024-09:36
I collect AP, Minerva and have a Hublot Ice bang as well. I love GP the best because my father used to collect GP. And the great thing about GP (Neo vintage) is that they are sooo much watch for the $. Rare birds. Can buy many for the price of one AP. : )...
By: Henke : May 11th, 2024-07:08
If Rolex and Patek don't have to buy back their watches to maintain desirability, whereas GP does, isn't that a huge competitive advantage for Rolex and Patek? Not so long ago a tanking secondary market was a given for every brand. What changed? Certainly...
I know many ADs.
By: SingaporeMarc : May 11th, 2024-08:19
They have Rolex stock on the back room. But yeah, Rolex doesn’t need to buy back retail stock. I also know many grey dealer. They are holding millions in stock. And dealer to dealer selling is dead. No one can or wants to buy more stock. There are 11,000 ...
And they got their Daytona's from ADs.
By: SingaporeMarc : May 11th, 2024-08:39
And even rolex premiums are fast dropping. Only certain models are still at a premium. Even Daytona's ... it depends which model and and year etc. I am not a rolex guy so I can't tell you if they are all trading at premiums or not. The main point is that ...
By: Henke : May 11th, 2024-17:35
> The luxury business operate on the Veblen effect. Exlcusivity and strong price consistency - desirability. But this was also the case in 2014 - but Rolex prices on the secondary market were not nearly as strong, and you could get discounts purchasing ne...
part 2
By: SingaporeMarc : May 11th, 2024-08:02
Would Rolex and Patek be the brands that caught the demand wave if they didn't have their reputation for quality and innovation across their whole range? If Rolex spent money on stock buybacks instead of developing their own balances or the chronergy esca...
Part 3
By: SingaporeMarc : May 11th, 2024-08:05
What does this add up to? Brands which are easy to recommend to newcomers because of their consistency across the board. You don't have to make sure the newcomer doesn't mind Omega's case thicknesses, tell them to avoid Vacheron's non Geneva seal lines, o...
Part 4
By: SingaporeMarc : May 11th, 2024-08:13
Can GP sustain itself by buying back stock? Probably in the short term - but it is a somewhat cynical and predatory way of doing so. It might ruin them in the long run if they spend money on market manipulation over improving the material quality of their...
Bingo … GP does not make
By: SingaporeMarc : May 11th, 2024-12:11
Much volume. It will not be a massive challenge to clean up the mess and participate in auctions for some pieces. It’s a marketing expense that turns into a revenue opportunity via CPO and selling the same watch with the GP warranty. MB&F has been doing t...
You are 💯 correct IMHO
By: SingaporeMarc : May 11th, 2024-14:44
I said that Max has a CPO buy back business going. Didn’t mean to imply that the business volume or ASP is even close. But I do think it’s doable for GP especially with some neo vintage rare birds. For example the laureato 8010. It’s the first mechanical ...
Dear Marc,thanks a lot for this post.
By: jlux : May 11th, 2024-12:31
It raises a lot of questions and concerns that we all have for this brand. I agree with you on a few crucial mistakes done historically and lately by GP : 1. they do not control their distribution : way too many brandnew watches appear on the secondary ma...
Thank you bro. It’s good to have the more
By: SingaporeMarc : May 11th, 2024-12:54
Seasoned collectors that understand. On point 2. The MSRP was roasted deliberately. GP has come to rely a lot on sacrifice watches and bundling. Are you aware of these terms …? Maybe a term used in asia more. Customer goes to and AD and wants a patek. He ...
+1 so true
By: hora12reborn : May 11th, 2024-15:51
Now these remarks are spot on. Very well said, jlux.
By: MichaelC : May 12th, 2024-17:08
Sadly, the comments do apply to UN, a brand I used to love. But not anymore. On the UN side, we can also add piss poor design language over the past 10 years +/-. Nobody wants massive Xs dominating their dial, but they are too stubborn to see it. In my hu...
💯
By: SingaporeMarc : May 13th, 2024-08:32
Patrick the ceo and his number two Luc Decroix are both ex Tag Staff. 😣