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

  1. #1
    Ich bin ein Ebeler! WWII70's Avatar
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    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.
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  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.

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  4. #3
    And I no longer buy watches.....My collection is complete....
    I'm now collecting Ferrari's....

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  6. #4
    El bot. geoffbot's Avatar
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    German watches it is then!
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  8. #5
    Ich bin ein Ebeler! WWII70's Avatar
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    True, the Euro went down in response

    Quote Originally Posted by geoffbot View Post
    German watches it is then!
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  9. #6
    Big Member Chase's Avatar
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    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!

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  11. #7
    Mountebank MarkO's Avatar
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    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
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    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
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  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
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    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

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