Hey guys in today's video we will be talking about the recent price increase that JLC has done and how it might affect the market and also potential new customers.
The secondary market will decide if it's justified. The 2023 annual report next year for the watch maison would tell the story. Fyi, the jewelry and leather goods segment had a higher price increase and are the main drivers of the group's profits.
Swatch Group is the purest form of a watch conglomerate grew only 4.9% when the industry average is around 11.4% in 2022. The numbers include an inorganic growth from the moonswatch (0% to over 260mil USD in sales), and also growth mostly in Omega. Tissot and Longines both dropped in position in the 1Bil sales ranking to RM, AP, PP. Breguet dropped double digit in sales. Yet, Swatch still has the crazy prices on Breguet, even a high sticker on the new Type XXI, along with a price increase in Tissot and Longines. Color me 😂
Congrats on your first milestone bro👏👏👏 VC also increase drastically recently for their models, esp the Dual time overseas, it seems like most brands tend to increase their prices once or twice annually now
Thank you very much for your support bro! Yeah so far brands under Richemont are affected. Let's see the other big watch conglomerate and how they move forward. I think Omega is rumoured to have a price increase in July.
I got my Reverso duoface and I love it, I have no intention of selling it but when I bought it in 2021, I genuinely felt it was underpriced. For me they’re no more overpriced than anything else these days. I used but Rolexes for 1500-3000 and the same watches would cost 4-5x that now. Even a packet of butter or cheese is twice what it was a couple of years ago!? Watch geeks have an inflated sense of our own importance. We make up an infinitesimal segment of the luxury watch market and our complaints about watch prices/sizes etc are only heard by ourselves 😂
That's also what I said when I tried the DuoFace back then. It felt like buying 1 watch for the price of one! Thank you for the long write up! You have a few good points and I agree with you 👍
Take some time to think of the purchase. If the price will affect your purchase experience, then perhaps you should wait and buy when it is comfortable for you.
the 2023 novelties had their price locked in when you ordered. so even if the delivery is next year you still pay the pre increase price. it's a lot better than many other brands where you pay the price at the point of collection
It's only for the allocated pieces. For example the MBS boutique was allocated around 20 pieces for the stainless steel Reverso Chrono. Once those 20 pieces are spoken for, you can still place a deposit but they won't lock the price as delivery is only in 2026 or later.
Nice to see you live now too. Of course, for those who own a JLC, the price increases are a boon. A small catastrophe for those who have still saved for their favorite watch. In essence, JLC watches are worth more than most watch lovers think they are worth. Because basically they can keep up with the vertical integration of all other top-class watch brands. It was not without reason that various Patek and AP models featured JLC movements. Overall, one has to say that the prices of the top brands are already unrealistically high and have become unattainable for the mere mortal. Unfortunately I waited too long. In addition to my new Master Thin Moon, I would also have liked to have bought a Reverso or the Polaris Chronograph. But now that has become simply impossible.
Hi George, I was wondering when you were gonna comment. How's things? Always appreciate your sentiments. I'm trying out different style of videos from time to time to add more variety. I too was planning on getting a Memovox or even an Atmos for my future house. But that seems unattainable right now.
Don't be overly concern with fluctuations in a watch's value. Manufacturers have the freedom to raise the MSRP as they please. At the end of the day, its the secondary market value of the watch that matters. Simply enjoy the watch to the fullest :)
I have no plans of selling any of my watches. In fact none of my watches yield any profit haha. I buy what I love. But when brands do something odd and might drive potential customers away, I think it's worth talking about.
@@WatchYourFront_ I hope that I can get a dual face reversol. However I think JLC has production issue and can not deliver their revsesol now on time, therefore I have decided to drop JLC.
@@sn00ze88 Which watch brand is not really important to me, as watch is just for enjoyment and entertainment for me. Invstment value or resale value or scarcity is not that most important. For example, a cheap and available Swatch black-one chrono can make me laugh and enjoy watch while a JLC reversol may not be able to. Therefore I would rather choose Swatch.
@@Chenxi_love_music_fairy The pricing for the Duoface Reverso used to be so appealing and it feels like you get 2 watch for the price of 1. Now you are literally paying for 2 watches it seems. But I think the Duoface wait time isn't as long as the Tribute Monoface.
For some Reversos yes that might be the case that the resale price would increase, but for most I suspect not, a watch dealer tells me the secondary market is still not picking em up at prices beyond a certain point and he said most reversos take quite a while to sell unless the price is very very attractive, like 50-55% retail price.
It will definitely will take time for the market to adjust. It's a weird move by JLC to increase it by that much. Usually brands do that when they know their pieces have resale value.
@@WatchYourFront_your statement about price increase correlating to having a higher resale is a false positive. Franck Muller, Roger Dubuis, Hublot all have crazy sticker prices at retail. How does their resale market look? For RD, it's non existent.
@@sn00ze88 Yes I also mentioned the chances of that happening is probably only true for boutique only pieces like my Reverso. Also, on my comment above I stated that it's an odd move to increase the prices by so much when most of JLC pieces does not yield a profit.
@@WatchYourFront_it could work if they cut volume by a higher % of the price %. ALS had a major volume reduction by almost 50%... almost immediately followed that up with a huge price increase and demand flowing into the secondary market. But ALS at its peak produced only 5k watches per year
@@sn00ze88 yeah true. ALS eventho not independent, the amount of watches they produce and the quality is similar to that of an independent brand. The Reversos currently still have a wait time of 6 to 9 months. The new Reverso Chrono in steel is sold out until 2027. Not sure how they will do if they lpwer production even more...
