luxury watch brands tiers image
yep
I have always loved buying watches but all my life i have gone with less expensive brands (quartz) I would just like to know what I am buying when I buy a more expensive brand such as omega, rolex, etc. The specs are sometimes identical. why would someone spend so much money?
Answer
Captain Obvious is correct about a few things, but not all.
For the most part, there isn't much of a difference (functionally) between a $50 quartz watch and a $2,000 quartz watch. Quite obviously, there will be a better quality product -- both in terms of aesthetics and finish as well as in terms of reliability and quality of timekeeping. Otherwise, both tell time fairly well.
However, the differences start showing when you are looking at mechanical watches that do not use Quartz, such as Automatics. These watches are mechanical marvels that can do some pretty darn interesting and complicated things. The advantage of an Automatic over a Quartz, of course, is that the good ones are built to last and you can pass it on to your next generation.
In that regard, a lot of the watches may seem the same (i.e. they tell time - duh). However, remember that with luxury watches, you are paying for it as a piece of expensive jewelry and art. The fact that it tells time is secondary.
Therefore, the difference therefore comes in *how* a watch tells time -- i.e. what mechanism (or movement) does it use, how well does it work, what else can it do, how well was it made, who made it, where was it made, what materials were used etc. In that regard, there is a world of difference in the tiers.
You've beginner luxury brands -- Raymond Weil, Longines, Stowa etc. Great watches, very reliable and use standard "movements" with excellent quality construction -- but nothing special. Not particularly expensive (less than $2,000 usually).
Then you have the mid tier brands. Within the mid tier brands, you've the lower mid tier and the higher mid tier brands.
In the lower mid tier, you have Omega, Rolex, Breitling, IWC etc -- around $2,000 - $10,000. About the same as the beginner (mostly), but slightly better quality and finish, and better brand name. In the higher mid tier brands, you get brands like Girard Perregaux, Breguet, and even IWC. Much better quality -- and you start getting into "custom" movements and "complications" that do some really amazing and cool mechanical things, and they are usually between $10,000 - $50,000. Their finish and quality tends to be rather outstanding, and they are not as commonly found.
Both the beginner and mid-tier brands are pretty reliable, and adhere to COSC (Contrôle Officiel Suisse des Chronomètres) standards of timekeeping accuracy, even when they don't have to. More than likely, a cheap $50 watch -- or even some of the "branded" $1,000 watch (think Armani or Guess watches) -- will fail at these standards.
Finally, then you get into the truly higher end brands -- Patek Philippe, Vacheron Constantin, Audemar Piguet, A. Lange & Söhne, etc. These guys make mechanical marvels, and they maintain the market by producing only a handful of truly outstanding pieces that pretty much take several top notch master watchmakers years to make their timepieces. These can go into the millions. And remember -- in this category, it's less about it being a watch and more about prestige, art, and the fact that you own one of a kind mechanical marvel.
At the end of the day, you must remember that once you leave the functional realm, watches become status symbols, and ergo Veblen goods (i.e. people buy them *because* they are expensive and elitist). You end up with "snob effect", where people want to use exclusive products, and price becomes associated with quality. Unfortunately, the side effect is the "bandwagon effect", where everyone wants to use exclusive products, and the demand for high-priced goods goes up. Consequently, the price of the already high-priced goods goes up.
If it helps, you should check out manufacturers like Parnis [1] or Sea Gull [2] -- Chinese watchmakers that make rather excellent watches comparable to lower end Swiss watch makers at a much lower price point.
Either way, watches are rather interesting, and you'd be amazed at just what's out there. Enjoy!
And here are some examples of "grand complications" --
Patek Philippe -
http://www.patek.com/patek-philippe.html?pageId=44674
Vacheron Constantin -
http://www.vacheron-constantin.com/en2/our-watches/#screen=PRODUCT;productRef=47070-000J-9085
Audemar Piguet -
http://www.audemarspiguet.com/collections/men/jules-audemars-47/equation-of-time-72/jules-audemars-skeleton-equation-of-time-1383/
A. Lange & Söhne -
http://www.alange-soehne.com/cms/en/timepieces/unforgettable-masterpieces/grand-lange-1-luna-mundi/index.html
Captain Obvious is correct about a few things, but not all.
For the most part, there isn't much of a difference (functionally) between a $50 quartz watch and a $2,000 quartz watch. Quite obviously, there will be a better quality product -- both in terms of aesthetics and finish as well as in terms of reliability and quality of timekeeping. Otherwise, both tell time fairly well.
However, the differences start showing when you are looking at mechanical watches that do not use Quartz, such as Automatics. These watches are mechanical marvels that can do some pretty darn interesting and complicated things. The advantage of an Automatic over a Quartz, of course, is that the good ones are built to last and you can pass it on to your next generation.
In that regard, a lot of the watches may seem the same (i.e. they tell time - duh). However, remember that with luxury watches, you are paying for it as a piece of expensive jewelry and art. The fact that it tells time is secondary.
Therefore, the difference therefore comes in *how* a watch tells time -- i.e. what mechanism (or movement) does it use, how well does it work, what else can it do, how well was it made, who made it, where was it made, what materials were used etc. In that regard, there is a world of difference in the tiers.
You've beginner luxury brands -- Raymond Weil, Longines, Stowa etc. Great watches, very reliable and use standard "movements" with excellent quality construction -- but nothing special. Not particularly expensive (less than $2,000 usually).
Then you have the mid tier brands. Within the mid tier brands, you've the lower mid tier and the higher mid tier brands.
In the lower mid tier, you have Omega, Rolex, Breitling, IWC etc -- around $2,000 - $10,000. About the same as the beginner (mostly), but slightly better quality and finish, and better brand name. In the higher mid tier brands, you get brands like Girard Perregaux, Breguet, and even IWC. Much better quality -- and you start getting into "custom" movements and "complications" that do some really amazing and cool mechanical things, and they are usually between $10,000 - $50,000. Their finish and quality tends to be rather outstanding, and they are not as commonly found.
Both the beginner and mid-tier brands are pretty reliable, and adhere to COSC (Contrôle Officiel Suisse des Chronomètres) standards of timekeeping accuracy, even when they don't have to. More than likely, a cheap $50 watch -- or even some of the "branded" $1,000 watch (think Armani or Guess watches) -- will fail at these standards.
Finally, then you get into the truly higher end brands -- Patek Philippe, Vacheron Constantin, Audemar Piguet, A. Lange & Söhne, etc. These guys make mechanical marvels, and they maintain the market by producing only a handful of truly outstanding pieces that pretty much take several top notch master watchmakers years to make their timepieces. These can go into the millions. And remember -- in this category, it's less about it being a watch and more about prestige, art, and the fact that you own one of a kind mechanical marvel.
At the end of the day, you must remember that once you leave the functional realm, watches become status symbols, and ergo Veblen goods (i.e. people buy them *because* they are expensive and elitist). You end up with "snob effect", where people want to use exclusive products, and price becomes associated with quality. Unfortunately, the side effect is the "bandwagon effect", where everyone wants to use exclusive products, and the demand for high-priced goods goes up. Consequently, the price of the already high-priced goods goes up.
If it helps, you should check out manufacturers like Parnis [1] or Sea Gull [2] -- Chinese watchmakers that make rather excellent watches comparable to lower end Swiss watch makers at a much lower price point.
Either way, watches are rather interesting, and you'd be amazed at just what's out there. Enjoy!
And here are some examples of "grand complications" --
Patek Philippe -
http://www.patek.com/patek-philippe.html?pageId=44674
Vacheron Constantin -
http://www.vacheron-constantin.com/en2/our-watches/#screen=PRODUCT;productRef=47070-000J-9085
Audemar Piguet -
http://www.audemarspiguet.com/collections/men/jules-audemars-47/equation-of-time-72/jules-audemars-skeleton-equation-of-time-1383/
A. Lange & Söhne -
http://www.alange-soehne.com/cms/en/timepieces/unforgettable-masterpieces/grand-lange-1-luna-mundi/index.html
Are luxury goods cheaper in China?
=^.^=
I'm going on holidays to China and want to know if branded wallets, handbags, sunglasses, watches... are cheaper there than what we can get in the US and Canada?
I know Hong Kong is very expensive, but I'm also going to Beijing, Changsha, Shenzen, and other tier 1 and 2 cities.
Is it worth it getting Louis Vuitton bags or Chanel glasses there, or is it cheaper at the duty free at the airport?
Thank you!
Answer
If you are asking about authentic luxury goods, buy it anywhere except in Hong Kong.
I visited Hong Kong expecting a Shopper Paradise and it was the exact opposite.
While in Hong Kong, I wanted to buy a pair of boots and visited a Nine West store in the mall, I wanted to shop from a brand I trusted, the boots there were a lot more expensive.
If your asking about knock off or imitation, I found the best prices and selection in Beijing at the Silk Market. Haggle your azz off, they will go down almost to 60-80% off the original price they asked.
Example: LV wristlet (decent quality) asking price $40, I got her down to $12.
Tip: Bring a carry on with you, because you will buy that much stuff and it beats carrying all the bags.
If you are asking about authentic luxury goods, buy it anywhere except in Hong Kong.
I visited Hong Kong expecting a Shopper Paradise and it was the exact opposite.
While in Hong Kong, I wanted to buy a pair of boots and visited a Nine West store in the mall, I wanted to shop from a brand I trusted, the boots there were a lot more expensive.
If your asking about knock off or imitation, I found the best prices and selection in Beijing at the Silk Market. Haggle your azz off, they will go down almost to 60-80% off the original price they asked.
Example: LV wristlet (decent quality) asking price $40, I got her down to $12.
Tip: Bring a carry on with you, because you will buy that much stuff and it beats carrying all the bags.
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Title Post: whats the difference between a cheap watch and an expensive brand ie rolex, omega etc.?
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