YouTube gets angry over Omega discounts and returns his 321

[Rickkk]

Has anyone seen this? Thoughts?

Title was meant to say youtuber* Thank you autocorrect!

https://www.youtube.com/watch?v=4CLsmk_vVas

[MichelleP]

I couldn't watch the full video. The guy is obnoxious. Never seen someone complain so much about discounts. I am sure someone else gladly bought the 321 at full price.

[JC316]

[Fleetlord]

Lol...he's clearly only been into to watches during the last few years...or he's just that dopey.

Omega has NEVER been a strong brand in terms of valuation. The market has ALWAYS discounted Omega. ALWAYS. Because the market sees them as overpriced at retail. They make far, far too many watches and had too many dealers.

You could buy the previous version Speedmaster NIB for 40% off a few years ago...so if this guy saw that, he would combust

Now that Omega retail is much higher, I'd expect 30% + discounts to be showing up again very soon. Dealers have to sell these watches....so they got to get the price down.

Contrary to opinion on Rolexforums, value retention and brand strength are very important to a lot of watch buyers. They want what they spend $$$ on to be desirable and hold value...maybe even appreciate ! Omega isn't the one for that...in fact the majority of watches aren't...hence Rolex FOMO.

[subtona]

Omega put a flying snoopy on the case back…
I don’t know what is worse, That omega did that or that some think it’s worth over msrp.

[jw0n]

Don't know who he is, but he sounds like a right git.

[brandrea]

Its unclear to me that he actually owns/owned a 321 and I can’t tell if he’s just bitter because he spent money on previous watches that are now discounted and he wants one on the 321 …

Regardless as annoying as he may be, I generally agree that discounts aren’t a good look for any luxury brand.

I’d prefer Omega to: narrow their focus, cull back on the product line and I’d prefer the ADs not to offer discounts.

[Ramathorn]

Originally Posted by brandrea

Its unclear to me that he actually owns/owned a 321 and I can’t tell if he’s just bitter because he spent money on previous watches that are now discounted and he wants one on the 321 …

Regardless as annoying as he may be, I generally agree that discounts aren’t a good look for any luxury brand.

I’d prefer Omega to: narrow their focus, cull back on the product line and I’d prefer the ADs not to offer discounts.

It was an entertaining watch.

Basically, he paid full retail on two other Omega watches at the Regent St boutique in London. As a result, he was able to purchase a snoopy and a 321 at retail, but he wants a discount on his 321 to make up for him being upside down on the other purchases. He paid for the 321 in December but wasn’t going to collect until February (birthday).

He got upset once he saw an AD discounting his first two purchases and that’s what set him off.

[brandrea]

Originally Posted by Ramathorn

It was an entertaining watch.

Basically, he paid full retail on two other Omega watches at the Regent St boutique in London. As a result, he was able to purchase a snoopy and a 321 at retail, but he wants a discount on his 321 to make up for him being upside down on the other purchases. He paid for the 321 in December but wasn’t going to collect until February (birthday).

He got upset once he saw an AD discounting his first two purchases and that’s what set him off.

Ah, clear as mud, thank you

He’s confusing a limited production, hand assembled watch with the mass produced references.

Omega shouldnt discount anything but at least they know where to draw their own line in the sand

[liberalclown]

I think Omega prepared themself for recession and fall of watch market by increasing the price more than they should, knowing even the 25-30% discount on ADs can still bring good amount of cash back to their vault. Now it is happening and no one is untouchable, even the crown but they will survive.

Additionally, if avg joe cannot afford even the discounted speedy, no worries, they have lots of plastic speedies to choose from untill the next bull market and abundance.

[Goupax]

Originally Posted by brandrea

Its unclear to me that he actually owns/owned a 321 and I can’t tell if he’s just bitter because he spent money on previous watches that are now discounted and he wants one on the 321 …

Regardless as annoying as he may be, I generally agree that discounts aren’t a good look for any luxury brand.

I’d prefer Omega to: narrow their focus, cull back on the product line and I’d prefer the ADs not to offer discounts.

That's never going to happen, Omega wants to be seen on an equal footing as Rolex but they just don't have the tools to do so. They are shackled to the Swatch Group are are their biggest cash cow, whose primary objective as a publicly owned company is to bring value to their shareholders. Meaning, more watches, higher prices year after year and cutting back on expenses wherever it is possible.

It is no surprise the most successful watch brands out there such as Rolex, AP, Patek and Richard Mille don't have any corporate overlord breathing down their neck at every moment to squeeze more money out of their consumers. They march at the sound of their own drum and are reaping the rewards big time.

Meanwhile, the ones under big corporations such as Swatch, Richemont or LVMH are forced to make too many watches for the public demand, reprice their goods well above the pace of inflation and cut corners in an industry that should give you more and not less. No wonder with such a recipe that the vast majority of their catalog trades well below retail on the secondary market.

[David5807]

Originally Posted by Rickkk

Has anyone seen this? Thoughts?

Title was meant to say youtuber* Thank you autocorrect!

https://www.youtube.com/watch?v=4CLsmk_vVas

I can't say that I agree with his decision. However, I do enjoy the man's content on youtube

[DoricSpiker]

I got to about 1 minute in then I was done so thanks to others for an explanation of his issue.
Omega will be cutting back their ADs. They are getting cheesed off with the discounts. You will be able to spot the ADs who are getting the chop, they will have a sale on most Omega watches.
They won’t drop production numbers though, they just want to control the distribution more. As others have said, massive discounts are a bad look. They will try and funnel more people into their boutiques. I read that’s where this guy went! More boutiques will therefore open, especially in large cities and more boutique agreements with larger ADs. That’s my 2 pennies worth anyway.


Sent from my iPhone using Tapatalk

[Tools]

You Tube is Click Bait.

[Locust]

Idiot

[TimeAZ]

Somebody should tell this guy he can get an Omega MoonSwatch for $250, his head might implode

[jw0n]

Originally Posted by Ramathorn

It was an entertaining watch.

Basically, he paid full retail on two other Omega watches at the Regent St boutique in London. As a result, he was able to purchase a snoopy and a 321 at retail, but he wants a discount on his 321 to make up for him being upside down on the other purchases. He paid for the 321 in December but wasn’t going to collect until February (birthday).

He got upset once he saw an AD discounting his first two purchases and that’s what set him off.

Omega should give him cashback discount on the two other watches. Then ask for more money for the Snoopy and 321.

[Bonano]

Originally Posted by Goupax

That's never going to happen, Omega wants to be seen on an equal footing as Rolex but they just don't have the tools to do so. They are shackled to the Swatch Group are are their biggest cash cow, whose primary objective as a publicly owned company is to bring value to their shareholders. Meaning, more watches, higher prices year after year and cutting back on expenses wherever it is possible.

It is no surprise the most successful watch brands out there such as Rolex, AP, Patek and Richard Mille don't have any corporate overlord breathing down their neck at every moment to squeeze more money out of their consumers. They march at the sound of their own drum and are reaping the rewards big time.

Meanwhile, the ones under big corporations such as Swatch, Richemont or LVMH are forced to make too many watches for the public demand, reprice their goods well above the pace of inflation and cut corners in an industry that should give you more and not less. No wonder with such a recipe that the vast majority of their catalog trades well below retail on the secondary market.

This.
Omega desperately needs to streamline their models and cut back on all the nonsense "limited editions" or "commemorative" models.

Is anyone really buying the Rio Olympic seamasters? PGA tours maybe but even that is a stretch.

[Guppydriver]

Originally Posted by Goupax

That's never going to happen, Omega wants to be seen on an equal footing as Rolex but they just don't have the tools to do so. They are shackled to the Swatch Group are are their biggest cash cow, whose primary objective as a publicly owned company is to bring value to their shareholders. Meaning, more watches, higher prices year after year and cutting back on expenses wherever it is possible.

It is no surprise the most successful watch brands out there such as Rolex, AP, Patek and Richard Mille don't have any corporate overlord breathing down their neck at every moment to squeeze more money out of their consumers. They march at the sound of their own drum and are reaping the rewards big time.

Meanwhile, the ones under big corporations such as Swatch, Richemont or LVMH are forced to make too many watches for the public demand, reprice their goods well above the pace of inflation and cut corners in an industry that should give you more and not less. No wonder with such a recipe that the vast majority of their catalog trades well below retail on the secondary market.

This is a solid take...

I do think there are exceptions however..

Both ALS (Richemont) and Glashutte Original (Swatch) seem to have not strayed far from their identity. To your point though, ALS has seen significant price increases but the production volume is still very low compared to commensurate brands.

Omega and JLC are, IMHO, the two brands that have gone bat sh!t crazy with regards to pricing and production the last few years. It's too bad, because both were on the precipice of strengthening their brands headed into the "craze".

[MILGAUSS88]

I didn't get through the whole thing, but I did notice that he has a more recent video:"I bought this Omega 46% Off retail."

[Goupax]

Originally Posted by Guppydriver

This is a solid take...

I do think there are exceptions however..

Both ALS (Richemont) and Glashutte Original (Swatch) seem to have not strayed far from their identity. To your point though, ALS has seen significant price increases but the production volume is still very low compared to commensurate brands.

Omega and JLC are, IMHO, the two brands that have gone bat sh!t crazy with regards to pricing and production the last few years. It's too bad, because both were on the precipice of strengthening their brands headed into the "craze".

The german brands have been left alone for the most part but I would be curious to see the level of finishing of an entry level Lange once you pop that conveniently large 3/4 plate out and see how the main plate really looks like. I have a good feeling it would be a ''don't meet your heroes'' moment.

Swatch seems more interested in doing volume to turn around a buck, the likes of Tissot, Hamilton, Longines and Omega are the bread and butter of the revenue and expenses. Lower cost of entry and pump millions of them. Brands like Glashutte, Blancpain and Breguet have imo, mostly turned into zombie brands. Very little marketing money spent and not a whole lot of new, interesting designs coming out. They feel like they are more trophy brands that look nice and fancy to have rather than legitimate businesses focused on steady and sustainable growth.

Richemont on the other hand seems laser focused on maximizing efficiency, harmonizing movements across several brand lines and using specialized third parties under the group to supply dials, hands, straps, bracelets, etc. It sounds reasonnable at first but then you realize that each brand loses a bit of its identity when you can find the same movement ebauche in a Baume and Mercier, IWC, Panerai and Cartier. The waters get murky and you start losing the plot about what it mean to have an ''in-house'' movement in a Richemont watch.

[Radbloke]

This bloke is an absolute goose. Why anyone would find a grown man crying into a camera about his expensive watches entertaining is beyond me.

[Rollieo]

Originally Posted by Fleetlord

Lol...he's clearly only been into to watches during the last few years...or he's just that dopey.

Omega has NEVER been a strong brand in terms of valuation. The market has ALWAYS discounted Omega. ALWAYS. Because the market sees them as overpriced at retail. They make far, far too many watches and had too many dealers.

You could buy the previous version Speedmaster NIB for 40% off a few years ago...so if this guy saw that, he would combust

Now that Omega retail is much higher, I'd expect 30% + discounts to be showing up again very soon. Dealers have to sell these watches....so they got to get the price down.

Contrary to opinion on Rolexforums, value retention and brand strength are very important to a lot of watch buyers. They want what they spend $$$ on to be desirable and hold value...maybe even appreciate ! Omega isn't the one for that...in fact the majority of watches aren't...hence Rolex FOMO.

This.

Guy in the video sounds like a douche, but he’s not wrong. But he doesn’t understand Omega is just going back to where it was 5 years ago. There’s no more Omega and Rolex comparison, that was 15 years ago.

Now it’s Omega and Tudor, and frankly Tudor is winning.

[alllexandru]

Originally Posted by Fleetlord

Omega has NEVER been a strong brand in terms of valuation. The market has ALWAYS discounted Omega. ALWAYS.

Originally Posted by brandrea

I’d prefer Omega to: narrow their focus, cull back on the product line

Yes and yes


I see Omega as a bad marketing strategy overall, on the other hand they do whatever they can to stay on top 5 WW.

Time will tell


--

I'm not interested in retaining value of my watches as im not investor type anyway

[Andad]

The posts so far have prevented my viewing.

Thanks.

[Galaga167]

I’m not watching it.

[brandrea]

Originally Posted by Andad

The posts so far have prevented my viewing.

Thanks.

You’re welcome

[Alex_TA]

The discount era is over. Go try to get more than 10% on 3861 Speeedmaster at AD.

[brandrea]

Originally Posted by Alex_TA

The discount era is over. Go try to get more than 10% on 3861 Speeedmaster at AD.

I hope that’s the direction they are trending toward.

The YT’er here cites a number of other Omega watches he purchased, that now are being offered for significant discounts.

What he doesn’t seem to be able to distinguish is that a hand assembled, limited production piece like the 321 doesn’t fall into that category.

Frankly, IF he actually did own a 321 I’m shocked they sold it to a guy like him

[writemem]

oh god, don't anyone tell him I paid £2600 OVER retail for my 321...he's lucky he even got offered one based on what he bought previous.