Archive for the ‘Watch Education’ Category

Watches Number 7 on the List of Top 10 Counterfeit Goods

Friday, February 10th, 2012

CNN Money recently published an article listing the Top 10 Counterfeit Goods seized by US officials in 2010. It’s no surprise that watches made the list, coming in at number seven.

Counterfeit Watches, CNN Money

According to the article, in 2010, US officials seized $8.4MM worth of fake watches with a retail value of $112.7MM.  Let’s say that the average fake watch sells for $50 – that means that 250 million fake watches were  seized.  That’s almost enough watches to outfit every man, woman, and child in the US.  I think that provides a little justification for our business, wouldn’t you say?  Even more scary – the fakes are getting better and better.

Here is the text from the article:

Watches are the classic counterfeit — and they are also among the trickiest for even connoisseurs to spot.

Lesser materials and cheap inner workings used to be obvious in a watch that feels lighter and doesn’t work as well as the real thing, but “modern technology allows counterfeiters to reproduce watches at a level of detail that’s frightening,” noted Michael Friedman, watch expert and horological director of Antiquorum auction house.

One of the best ways to make sure a timepiece is legitimate is to examine the box and certificate to see if the serial numbers on the accompanying material match up, Friedman advised.

Click here to read the entire article on counterfeit products seized in the US.

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Cartier’s Newest Addition: The Tank Anglaise

Wednesday, February 1st, 2012

At the Salon International de la Haute Horlogerie (SIHH) in January of 2012, Cartier introduced the newest addition to the brand’s line of luxury watches. The latest design is a modified version of the iconic Tank style Cartier is best known for…

Meet the Cartier Tank Anglaise.

Cartier Tank Anglaise Stainless Steel Diamond White Gold Watch SIHH eRelyx Preowned Watches

Not only is the Tank Anglaise destined to be another big hit for Cartier in the luxury watch market- it is also an important piece in the brand’s history. The Tank Anglaise it will house Cartier’s very first, in-house made movement. (Cartier watches previously housed movements manufactured by the Swatch Group, prior to supply cuts made in early 2012 that hurt many luxury watchmakers- to learn more, read the NY Times article here)

Cartier Tank Anglaise Rose Gold Diamond Watch SIHH eRelyx Used Watches

The Anglaise retains the iconic, original elements of the Tank design, but with a more sleek and modernized approach- the Tank Francaise will strike a chord with conservative traditionalists and contemporary fashionistas alike.

It’s a design so seamless, so representative of the brand’s past, present and future- it has us wondering, could the Tank Anglaise actually be Cartier’s most perfect watch to date?

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Paul Newman Rolex Daytona – Want One?

Friday, October 21st, 2011

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If you’re interested in watches, you’ve heard about the Paul Newman Rolex Daytona.  But what makes it so special?  And how did it get its name?  Did Paul Newman wear it in a movie?  Did he sell it and donate the profits to charity?  What gives?  And when you’re done reading about the watch, let us know if you’re interested in acquiring one – we have access to one (pictures of the actual watch available are at the end of the blog).  Keep in mind that one of these watches fetch tens of thousands of dollars – and that’s being conservative.

Paul Newman Rolex Daytona eRelyx

Rather than recreate the wheel, I’ll pull Wikipedia’s explanation of the Paul Newman Rolex Daytona:

Although Rolex continues to manufacture a version of the “Daytona”, the rarest versions of the Rolex Daytona are the first versions, those whose reference number contains four digits, for example the 6238, 6239, 6240, 6241, 6262, 6263 6264 and 6265 References, produced from 1961 to 1987. The 6238, 6239, 6241 and 6262 References were the first versions, and were not “Oyster” versions, they did not have a screw down winding crown or screw down timing buttons. The movement used was a manual wind Valjoux cal. 72, named the Rolex Cal. 722. The 6263, 6264 and 6265 References were produced commencing 1970, were Oyster versions with screw down crown and screw down timing buttons. The movement used remained based on the manual wind Valjoux cal. 72, but with some refinements, and was called the Rolex Cal. 727. These Daytonas are very rare and very collectible. The movement has proven to be exceptionally reliable and accurate. In fact, the Cal. 727 was certified as a chronometer in some cases.

The rarest Daytonas are those with the so-called Paul Newman dial. Its distinguishing features are subtle and often unnoticeable to the untrained eye. First, a Paul Newman dial must be in a Reference 6239, 6241, 6262, 6263, 6264 or 6265 watch, installed by Rolex Geneva as original. All of these References had acrylic domed crystals. That aside, the sub-dials of a Paul Newman dial have block markers instead of lines, will have cross-hairs across each sub-dial meeting at center (unlike the normal Daytona), and the minutes sub-dial placed at 9:00 is marked at 15, 30, 45 and 60, whereas a normal Daytona dial is marked at 20, 40 and 60. The dial may or may not have the word “Daytona” written on the dial above the hour sub-dial located at 6:00. The dial came in four color and layout combinations, and was installed as an option by Rolex on the Daytona line of watches in the Reference 6239, 6241, 6262, 6263, 6264 or 6265 watches. The watch has been out of production since the early 1970s, and Rolex is not able to supply any replacement version of it.

It is said that Paul Newman wore this watch until his death in 2008, and had done so since 1972, the watch having been given to him by his wife, Joanne Woodward, when Newman took up automobile racing.

The original Daytona watches were not in demand when produced, and were inexpensive, but have gained rapid esteem among collectors, are known as the “Holy Grail” of collectible watches and fetch considerable prices at auction.

So there you have it!  Now…do you want one?  Get out your checkbook – but don’t worry – this is an amazing investment.  A collector’s item and a work of art.

Paul Newman Rolex Daytona eRelyxPaul Newman Rolex Daytona eRelyx

Paul Newman Rolex Daytona eRelyx

Check out the Rolex watches for sale through eRelyx.

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Panerai Price List

Wednesday, September 21st, 2011

We recently mentioned that Panerai was pushing through a round of price increases – well, here’s the latest price list for Panerai watches courtesy of Paneristi.

Panerai Price List

Panerai watches on eRelyx.

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Why are Swiss Watch Manufacturers Raising Prices?

Friday, September 16th, 2011

You’ve read about it.  I’ve blogged about it.  You’ve seen it at the stores.  You’ve seen it on websites.

Swiss watch manufacturers are raising prices at a break-neck speed.  Why?  There are several logical answers.  First, despite the lackluster economy, demand is growing faster than supply.  China is snapping up Rolex watches left and right.  When that happens, prices tend to rise.  Second, brands are trying to make their products more exclusive.  More expensive = more exclusive.  Brands raise prices because they can – and often times that makes their brand cachet that much stronger.

But the main reason that the Swiss watch manufacturers are raising prices is because of the value of the Swiss Franc relative to the US Dollar.

Take a look at the exchange rate chart below.  In the middle of 2010, if you wanted to buy one Swiss Franc, it would cost you 85 cents.  Recently, if you wanted to buy one Swiss Franc, it would cost you $1.30.  (We picked the peak and recent trough for explanation purposes).

Why are Swiss watches getting so expensive

In the middle of 2010, a $5,000 watch was equivalent to 5,882 Swiss Francs.

If the price of that watch remained at $5,000 in late 2011, it would only be equivalent to 3,846 Swiss Francs.

The Swiss watch manufacturers probably pay most of their bills (think labor, rent, etc.) in Swiss Francs.  In the middle of 2010, they were getting 5,882 Swiss Francs for each watch.  In late 2011, they were only getting 3,846.  Their expenses in Switzerland didn’t decrease at the same rate – in fact, their expenses were like increasing.  So – they raised the prices on watches sold in the US so that they could pay their bills in Switzerland.

In order to get the same 5,882 Swiss Francs they were getting in mid-2010, the Swiss watch manufacturers need to raise US Dollar prices from $5,000 to $7,647.  That’s an increase of over 50%!  (The easy math is ($1.30 – $0.85) / $0.85).

There’s relief in sight, right?  There’s a dip at the end of the chart and it looks like one Swiss Franc only costs $1.10.  The Swiss watch manufacturers will lower prices if the dip continues, right?  Not so fast.  When’s the last time you’ve heard about a luxury brand lowering prices.  It just doesn’t happen very often, if at all.  So, the dramatic increase in the value of the Swiss Franc relative to the US dollar has likely produced permanently higher prices.  Sigh.

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Rolex Mercedes Hand

Friday, September 16th, 2011

We’ve said it many times – watches and cars share a special relationship.

Breitling and Bentley

Panerai and Ferrari

Corum and Rolls Royce

And what about Rolex and Mercedes?

Rolex GMT Master II

As you’ll notice, the Rolex sport models (Submariner, SeaDweller, GMT Master II, etc.) have an hour hand with a Mercedes logo at the end.  Well, not so fast.  That’s not actually a Mercedes logo (well, it is, but it’s not supposed to be).  It’s actually a three pointed star (Rising Star) with each point representing the three modes of transport: land, air, and sea.  According to KeepTheTime, “Its purpose is to hold the lume component of the watch and provide visibility of the hour hand when it is overlapped by the minute hand.”

Regardless…if Rolex WAS to partner up with a car manufacturer, Mercedes would be a logical fit.  Don’t you think?,

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Rumors of More Price Increases for Cartier and Panerai

Tuesday, September 13th, 2011

When it comes to luxury watches, price increases seem to be a fact of life.  It’s not surprising to hear rumors that Cartier and Panerai are considering price hikes in the near future.  What is surprising is that they’ve already raised prices this year – Cartier’s prices were just increased in July!

Now these are still just rumors, but we’ve heard them from multiple credible sources.

Have you heard anything?!?!

The good news is that all of these price increases make buying pre-owned more attractive.  You can save real dollars.

Check out our selection of pre-owned Cartier and Panerai.

Panerai Radiomir Black Seal

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Swatch Dumps Tiffany

Monday, September 12th, 2011

Swatch dumps Tiffany

“I think we’re alone now.  There doesn’t seem to be anyone around.”

When it comes to watches, that’s what the Tiffany executives will be singing for the foreseeable future.

Back in 2007, luxury jeweler Tiffany entered into a joint agreement with Swatch Group.  According to the Swatch Group website, the agreement was a “strategic alliance to further the development, production and worldwide distribution of Tiffany & Co. brand watches. Under the agreement, the new watch company, known as Tiffany Watch Co. Ltd and wholly owned by Swatch Group, will design and manufacture in Switzerland a complete range of high-end luxury watches.”

In other words, Swatch makes watches for Tiffany.  Swatch pays Tiffany royalties for the use of the brand.  Unfortunately, the relationship appears to be over.  According to the Wall Street Journal, “The world’s largest watchmaker said the long-term partnership was being terminated following Tiffany & Co.’s systematic efforts to block and delay development of the business.”

Of course, Tiffany had a few parting shots: “Despite assurances to contrary made in 2007, Swatch has failed to provide appropriate distribution for Tiffany & Co. brand watches, with the result that our current business forecasts do not include any meaningful increase in watch sales or royalty income.”

The relationship was set to last 20 years with an option for another 10.

A couple of interesting questions to ask:

1. Will any of the Swatch-made Tiffany watches become collectors’ items?

2. Are there good examples of jewelers successfully entering the watch world?  There are probably a few success stories, however, my feeling is that watches tend to be a bit more male-centric, making it difficult for jewelers to make a huge splash.

Tiffany is now single.  It will be interesting to see if any new kids on the watch block will be interested in courting her.

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Peace of Mind

Tuesday, September 6th, 2011

“Buy the retailer first and the watch second.”  We’ve heard some version of that phrase several times.  It makes sense.  When you’re buying a luxury watch, it makes a lot of sense to buy it from a retailer that you trust.  Why roll the dice to save a couple hundred dollars?  It’s just not worth it.

From time to time customers will ask us, “How do I know that I can trust eRelyx?”  It’s a perfectly legitimate question.  Here are a few things to give you peace of mind.

1. We’re not trying to hide who we are.  We’re happy to share our pictures & backgrounds on our About Us page.

2. We  work with many well-established jewelers (both brick & mortar and online).  We know them, they know us.  We’re happy to provide you with a reference.

3. We answer the phone.  If you call us between 9am-6pm M-F, we’ll answer your call.  (If we’re in a meeting or out to a team lunch, leave us a message – we will call you back).

4. We have an active social media presence.  Feel free to check us out on Facebook.

5. We are endorsed by iW Magazine – the world’s only monthly watch publication for both the trade and enthusiasts.

6. We have a growing number of positive reviews from our customers – feel free to go to Google and check us out.

eRelyx Reviews

7. We have a world class board of advisors – it is unlikely that such impressive, high profile individuals would be willing to advise a company unless it was trustworthy.  See their profiles on our About Us page.

8. If you’re local and would like to meet us, we’re happy to set up an appointment.

Hopefully you’re convinced.  If not, feel free to give us a call or email us.  We’ll see what we can do!  617-536-1900 or contact@erelyx.com

Thank you.

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Patek Philippe Extract From the Archives

Wednesday, August 17th, 2011

Are you considering buying a pre-owned Patek Philippe without paperwork (certificate of authenticity)?  Do you own a Patek Philippe for which you misplaced the paperwork?

All is not lost.  Patek Philippe allows you to request an “Extract from the Archives.”  All you need to do is fill out an online form with a few watch details and send them 100 Swiss Francs.  After 4-8 weeks, they will send you a document indicating when your watch was made, when it was sold, and a few other details specific to the watch.  While they tell you that it’s not meant as a certificate of authenticity, Patek Philippe will not send you an Extract if the watch details that you submitted don’t match up.

Rather than write about it, check out this short video.  And if you want to order an extract, visit the Patek Philippe Extract From the Archives page.

pre-owned and used luxury watches

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