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Rolex Buying Up Unsold Stock to Combat Gray Marketing

Rolex Becoming its Own Best Customer?

In what may be another sign of these troubled economic times, Rolex is reported in German-language Swiss newspaper Tages Anzeiger to have undertaken an effort to buy back unsold stocks of Rolex watches from Authorized Dealers’ shelves in an attempt to discourage merchants from dumping the product at fires sale prices or on the gray market.

To those unfamiliar with the intricacies of markeitng luxury goods like watches, the gray market can become a thorn in the side of brand marketers. Not only must prices of luxury goods be carefully controlled thourgh distribution agreements, but if desperate dealers in the authorized distribution network resell the watches wholesale to gray dealers the resulting competition can further push price levels down.

According to the article so far the practice has been mostly limited to dealers in Asia, though dealers in deliveries in Europe have been curtailed in Europe and dealers have already been warned against over-discounting to keep prices from falling.

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Posted in Modern Watches.

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By Rrryan – 21 June 2009

Unconfirmed Rumor of Macy’s Jewelry Liquidation Sale

I haven’t had a chance to check in person yet this weekend, I understand apparently Macy’s jewelry sub-vendor in at least some markets is not renewing their contract and Macy’s will be taking over jewelry sales directly in most markets. The upshot for us as watch enthusiasts is that the vendor is reported to be liquidating existing stock at 50% off, and you sign up for a Macy’s charge there’s an add’l 20% off. So if you’re looking for something like Oris, Movado, Seiko etc there might be some excellent deals to be had.

Might be worth a call to one nearest to you to see what’s on offer: Find a Macy’s near you

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By Rrryan – 14 June 2009

A Bathing Ape: BAPEX Sub-a-like Clone on G-10.

Check out this Sub-a-like clone from BAPEX, a sub-line of the Japanese fashion boutique brand “A Bathing Ape”:

BAPEX/A Bathing Ape Submariner Clone. Note the G10 replica strap.

BAPEX/A Bathing Ape Submariner Clone. Note the G10 replica strap.

The “apes” name actually owes to the designer’s enjoyment of the “Planet of the Apes” movie, as well as a coincidental similarity to an abbreviation of a Japanese saying meaning “bathing in lukewarm water.” The “Bapex” sub-brand name is likely deliberately imitative of the word “Rolex,” not unlike the manner in which the company now known as RXW formerly marked its watches with ROCK-X until pressure from Rolex attorneys prompted a change. Continued…

Posted in Military Watches.

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By Rrryan – 21 April 2009

Mailbag: Failing Omega X-33 LCD Display?

Bill writes:

Hi, I have about a 3 year old X-33 that I am having problems with. My Quartz display is failing. I have half of the numbers and letters. Everything else work fine on the watch. Do you know if anyone who has had this problem? Do you know anyone other than Omega to send it for repair? They are expensive and take forever and the last time I sent it there for a battery replacement they somehow set the stem wrong and I had to send it back again. Also, one other question, the one thing I love about the X-33 is the alarm. It wakes the dead. Do you know of any other watch that has the loud alarm like the X-33. Thanks for your help. Bill

Omega Speedmaster Professional X-33 Gen 2 3291.50.00

Omega Speedmaster Professional X-33 Gen 2 3291.50.00

Hi Bill,

I’ve not heard of that problem occurring widely with the LCD displays on X-33s. I hate to say it but it sounds like the module/movement might need to be replaced as I’m not sure the LCD display is available separately. For a problem like that, only Omega or any Swatch-authorized repair center would have the parts and expertise. You might try using Omega’s page to find someone local, or else Womble Watch works in Marietta, GA: (770) 952-1812‎.

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Posted in X-33.

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By Rrryan – 10 April 2009

J. Crew “Military” Timex: Coolhunted?

Inauthentic Design, Faux-aged, Overpriced, and… Very Cool?

Timex at ShopStyle

The J. Crew Timex “1940s Military” Watch left me altogether unimpressed when released in late 2008, and there are still many reasons not to get overly excited about this watch.

I remember thinking at the time that it might have been worth a look if it were priced in line with Timex’s more typical quartz offerings, but at 5x the expected price it just didn’t catch my interest at all. And of course, this is even coming from someone accuatomed to spending several times that figure on watches of interest.

With its hodgepodge styling and a bevy of conflicting and anachronistic design elements, faux distressing and aging that is the absolute antithesis of the patina or honestly earned “wabi” treasured on genuine vintage watches, and what seemed an arbitrarily high price for an otherwise unremarkable, uncomplicated quartz watch I couldn’t get excited about this one.

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Posted in Military Watches.

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By Rrryan – 21 March 2009

Lincoln’s Pocketwatch: Watchmaker Graffiti

President Abraham Lincoln's Pocketwatch. English movement in Us-made gold hunter case. Photo: National Museum of American History

President Abraham Lincoln's Pocketwatch. English movement in Us-made gold hunter case. Photo: National Museum of American History

As reported by the Washington Post, what had survived only as a little-known bit of family folklore in an Irish family was recently discovered to be fact: in 1861 watchmaker Jonathan Dillon engraved his own bit of personal graffiti inside the watch of the President of the United States.

Apparently in the opening days of the civil war US President Abraham Lincoln had sent his watch in for a service. The watch contains an English movement in a gold US-made hunter case. While to the uninitiated such a configuration might seem odd, it’s very fitting in the historical context. In this time prior to the advent of the “American system” of mass-produced interchangeable parts that rose to prominence later in the 19th Century and made makers like Waltham famous, handmade English movements were regarded as among the best in the world. At the time the common practice was for jewelers to offer a selection of grades of cases and movements for the customer to choose from, with the movement being cased only at the time of sale.

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Posted in Vintage Watches.

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By Rrryan – 11 March 2009

Smash & Grab Watch Theft Filmed by CNN Crew

CNN Documents New Technique for Collecting Watches During an Economic Downturn

A little bit of Saturday morning fun. Apparently a CNN crew in London filmed this simple and inelegant but effective scheme to steal a few watches from a Jeweler’s window.

The thieves used a sledgehammer to smash the storefront window and the noise of revving the engines to cover the sound of the breaking glass to avoid attracting more attention.

That’s one way to get that new Rolex Sea-Dweller Deep Sea you’ve been lusting after in a recessionary economy. Note though: do not attempt something this in front of international news media video cameras. You’re a lot more likely to get recognized and caught when the entire world sees you on the news, and the footage might prove inconvenient if presented again later… as evidence.

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By Rrryan – 07 March 2009

Gandhi’s Pocketwatch and Items Close at $2.1M. Hilarity Ensues.

Antiquourm Lot #364 in the March 4-5 Auction: Zenith Alarm Pocketwatch, Eyeglasses, and Sandals described as having been owned by Mohandas Gandhi. Photo: Antiquorum.

Antiquourm Lot #364 in the March 4-5 Auction: Gandhi's Zenith Alarm Pocketwatch, Eyeglasses, and Sandals. Photo: Antiquorum.

New and Even More Bizarre Events in Antiquorum Auction of Gandhi Pocketwatch and Memorabilia.

This afternoon Antiquorum completed the auction of lot #364, which included a Zenith alarm pocketwatch, eyeglasses, sandals, and bowl and plate that had belonged to none other than Mohandas Gandhi.

As I predicted in earlier posts, the initial estimate of $20,000-$30,000 proved to be absurdly low and the auction closed at approximately $1.8 Million US dollars (or $2,096,000 (including the buyer’s premium), with an Indian billionaire the winning bidder.

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Posted in Vintage Watches.

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By Rrryan – 05 March 2009