Likes Likes:  12
Page 1 of 2 12 LastLast
Results 1 to 10 of 15

Thread: Swiss Franc soared yesterday - expect to see Swiss watch prices

  1. #1
    Ich bin ein Ebeler! WWII70's Avatar
    Join Date
    Nov 2014
    Location
    Boston ex-pat Brit
    Posts
    2,424

    Swiss Franc soared yesterday - expect to see Swiss watch prices

    http://www.bloomberg.com/news/2015-0...tml?cmpid=yhoo

    Swiss central bank allowed its Franc to 'float' instead of being pegged to the Euro.
    Ebels (lots), IWC, Omega, FC, Eterna, Tag, Invicta, Movado
    If you are interested in the details http://www.intlwatchleague.com/membe...70&tab=aboutme

  2. #2
    All but a fraction of Swiss watches are exported, almost a third to the euro zone, Biver said in an interview

    Swatch Group AG Chief Executive Officer Nick Hayek said the SNB has set off a “tsunami.”

    “When one third of your business is hit by a weak currency, you have to either increase prices, or you have to reduce your margins,” he said. However, Biver said he can’t raise prices by 10 percent or 15 percent. “I’m shocked, it was unexpected.”
    The one consolation watchmakers have is they’re entering this crisis with bigger cash piles than ever before. Richemont’s net cash position increased to a record 4.9 billion euros ($5.7 billion).
    Awww, I feel their pain , must be tough.

  3. Likes popoki nui liked this post
  4. #3
    And I no longer buy watches.....My collection is complete....
    I'm now collecting Ferrari's....

  5. Likes Seriously, popoki nui liked this post
  6. #4
    El bot. geoffbot's Avatar
    Join Date
    Oct 2014
    Location
    West Sussex, UK
    Posts
    18,703
    German watches it is then!
    Follow IWL on instagram! https://instagram.com/iwatchleague

  7. Likes JAGtime, Chase, FuzzyB, boatme99 liked this post
  8. #5
    Ich bin ein Ebeler! WWII70's Avatar
    Join Date
    Nov 2014
    Location
    Boston ex-pat Brit
    Posts
    2,424
    True, the Euro went down in response

    Quote Originally Posted by geoffbot View Post
    German watches it is then!
    Ebels (lots), IWC, Omega, FC, Eterna, Tag, Invicta, Movado
    If you are interested in the details http://www.intlwatchleague.com/membe...70&tab=aboutme

  9. #6
    Big Member Chase's Avatar
    Join Date
    Dec 2014
    Location
    Calgary
    Posts
    2,423
    Not sure I wouldn't feel as confident as he. When my nest egg is down to 4.9 billion euros is right when I start getting nervous about things!

  10. Likes Seriously, CFR, popoki nui, hayday liked this post
  11. #7
    Mountebank MarkO's Avatar
    Join Date
    Nov 2014
    Location
    Turks and Caicos Islands
    Posts
    3,102
    Today the $ is 15% lower against the CHF compared to before the announcement yesterday. If the Swiss companies quote prices in CHF I don't see how they can easily say they will charge less in $ unless they quote a lower CHF price.
    MB2, SOH, Aquascope, Tangente, MM300, Blackbay, North Flag, Officer, Visitor.

  12. #8
    Ich bin ein Ebeler! WWII70's Avatar
    Join Date
    Nov 2014
    Location
    Boston ex-pat Brit
    Posts
    2,424
    I'll swing by the Omega boutique today and hear what they are saying.

    Quote Originally Posted by Chase View Post
    Not sure I wouldn't feel as confident as he. When my nest egg is down to 4.9 billion euros is right when I start getting nervous about things!
    Ebels (lots), IWC, Omega, FC, Eterna, Tag, Invicta, Movado
    If you are interested in the details http://www.intlwatchleague.com/membe...70&tab=aboutme

  13. #9
    I would expect a price hike soon but a 15% spike in prices would be hard to digest.

  14. #10
    Member boatme99's Avatar
    Join Date
    Nov 2014
    Location
    Middle Tennessee
    Posts
    1,689
    Quote Originally Posted by Little Big Feather View Post
    And I no longer buy watches.....My collection is complete....
    I'm now collecting Ferrari's....

    I hope you mean used Ferrari's, and not the new Fiat's.
    54650

  15. Likes gnuyork liked this post

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
About Us
We are an independent and wide-ranging forum for watch enthusiasts. From mainspring to microchip, from Europe to Asia, from micro-brand to boutique - we cover it all. Novice or expert, we want you to feel at home. Whether it's asking a simple question or contributing to the fund of horological knowledge, it's all the same hobby. Or, if you like, you can just show us a picture of your new watch. We'll provide the welcoming and courteous environment, the rest is up to you!
Join us