Festival Watch Price Tide Hit Again, Positioning And Precious Metal Appreciation Are The Main Reasons

Since July 1, 2011, Rolex watches have generally risen by 5% to 7%. Next, brands that have confirmed price increases include Omega, Longines and other brands. The rising price of watches has attracted more and more attention, and it has also led people to re-examine the value of their collections. Whatever the reason, the phenomenon of watch price increase cannot be separated from the dual effects of ‘luxury’ and ‘brand’. Rolex prices have risen again, which is probably one of the hottest topics in the watch circle in recent times. Since July 1, Rolex watches have generally increased by 5% to 7%. For example, the latest price of Rolex’s Greenwich II Ref. 116710 has been adjusted to 64,900 yuan. A year ago, this watch, hailed as ‘the most beautiful Rolex’, sold for 58,800 yuan.
     In fact, this is not the first collective price adjustment of a watch. On April 28 this year, Rolex has quietly changed the price. If we look at it for a longer time, we can find that this brand will adjust the price within two years. Take up to 3 times. At the same time, brands such as Omega and Longines also acknowledge that they may increase by about 5% in the second half of this year. In addition to directly adjusting the price, some big-name watches also ‘price up’ in disguise by launching a new method. Luxury watches are constantly reminding people of their appreciation potential with practical action.
     Regarding the reasons for the rise in prices, there are divergent opinions. The official answer is that the price of raw materials has risen, and ‘the price of gold has continued to rise’ is one of the main reasons. ‘Most of the raw materials used by Rolex watches are genuine gold and diamonds. The rising prices of gold and diamonds are inevitable. In addition, the scarcity and limitation of famous watches are also the reason for the price increase of famous watches. One. ‘Economic media pointed the reason to future import tariff policies.’ Luxury brands have lowered their retail prices significantly because they are worried about reduced import tariffs. If they ‘fall,’ they lose the high-end nature of the brand, so Starting to raise prices without waiting for tax cuts, we hope to make up for the reduction in commodity prices caused by the reduction in import tariffs through price increases. ‘And industry insiders, Mr. Chang Wei believes that’ Rolex, which is going up today, is the same as other brands, and it will rise every year Price, which is related to the macro international exchange rate. Those who have been to their factories know that regardless of the high quality of their watch cases and jewellery, they are linked to high costs, and the cost of raw materials and labor has risen. ‘
Appreciation Keywords-Precious Metals
     In fact, the appreciation of precious metals is the most obvious reason for the price adjustment of watches, and ‘the rise in gold prices is a sign of the prosperity of the international watch market’. For Rolex, the ‘oyster-like’ design and precious metals have always been its signature. This Rolex Oyster Perpetual Diary watch is made of gold and steel. The outer ring is set with 46 flash diamonds. At the same time, the dial is replaced by 10 sparkling diamonds. The nobleness emanating from it is self-evident. In addition to its material value, this watch is also consistent with the technical value of Rolex, equipped with a two-way automatic winding rotor and waterproof system.
Reasons for the price increase The dual effect of luxury and brand
     In fact, no matter what the reason is, the phenomenon of watch price increase is inseparable from the dual effects of ‘luxury’ and ‘brand’. A watch is a piece of history, which is repeatedly emphasized by many watch brands, and the continuous digging of watchmaking history is precisely to consolidate and deepen the brand effect repeatedly. At the same time, compared to leather goods and clothing, hand-made and ingenious watches, there are more reasons to become luxury. Someone once commented that the craftsmanship of Swiss watches lies in grinding, chamfering and exquisite craftsmanship, but more importantly, they establish the rules of the watch as a luxury game. Swiss watchmakers can patiently spend more than 2,000 hours polishing the hundreds of parts on a watch. Among them, luxury means self-evident.
     In Asia, luxury goods have already formed a complete social identity system, and Asians will divide themselves into social classes for themselves and others by wearing them. Therefore, the luxury goods market in Asia is still heating up. Before Rolex’s price adjustment, well-known luxury brands such as Chanel and Louis Vuitton have also adjusted their prices. ‘The Economist’ magazine once pointed out that ‘in the new round of luxury consumption movement in China, watches are undoubtedly the most worthy high-end luxury goods.’ According to the latest data released by the Swiss Watch Industry Federation, in May, Switzerland Watch exports have increased by 40.1% in real terms to 1.64 billion Swiss francs and have grown in almost every market worldwide. Hong Kong, China, and the Chinese mainland rank among the top three Swiss watch export markets. Data show that in May, mainland China imported Swiss watches up to 130 million Swiss francs. In China, buying a high-end watch can get the best shopping experience. This great joy when buying a watch is not even available in the watch kingdom Switzerland.