You can’t get the Rolexes, the shelves are empty. “Even if they walk into the boutiques, you can’t get the popular models. Mr Charles Lee, founder of Good Time Luxury at Far East Plaza, said that it became harder to get watches amid the pandemic as customers could not travel overseas to buy them. “For normal people, it’s impossible to get," he said. Mr Tan likened the process to buying an exclusive bag like the Hermes Birkin. New customers are often told that the watches they want are out of stock and so they turn to the grey market, Mr Tan said. The grey market is made up of retailers who are not officially authorised by brands to sell their watches. He also purchases watches overseas on behalf of other dealers in Singapore. Mr Tan started out as a watch collector himself, and started buying and trading luxury timepieces on the e-commerce marketplace in 2019. “If you don't follow up, if you don't buy anything more from them, likely you will never hear from them ever after.”Įven VIP customers have to wait a few months for a watch of their choice, said Mr Tan Khai Hsiang, who runs an online shop on Carousell called KHF Watch. You go there and they will give you the standard SOP (standard operating procedure) - that this is a highly sought-after piece, there’s this interest list,” said Mr Tun. “With the authorised dealer, I think a lot of people feel the same frustration as I did. Getting your name on the list also by no means guarantees you a watch. You can’t be waiting for two years when he graduates in the next six months,” said Mr Ng. “Let's just say that you want to buy this as a wedding anniversary gift or you want to buy it for your son as a graduation present. Mr Jarod Ng, co-founder of retailer Watch Capital which sells new and pre-owned luxury watches, said a lot of people find the waiting time too long. There are usually long waiting or interest lists, especially for popular models, watch dealers and collectors said. Watches from brands such as Rolex, Patek Philippe and Audemars Piguet are among the most popular.īuyers cannot just walk into shops and purchase these watches. But of course the piece must be something that I like.”įor luxury watches like some of the ones Mr Tun collects, demand far outstrips the supply. “Whichever purchase I want to buy, especially for watches, the numbers must make sense first. It’s very intriguing … It’s like art to me," he explained. I like the watches for the different movements, different intricacies of the movements itself. “I don't just like watches for the value. He now sees his watches, now valued at about S$400,000, as not just a passion, but also an investment. The 35-year-old has since spent more than S$300,000 on these timepieces. The S$16,480 Rolex Sea-Dweller, which is still in his possession, started him on a journey that has been “hard to stop”. SINGAPORE: It took Mr Jay Tun almost two years of deliberation before he bought his first luxury watch in 2018.
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