Swatch Group Issues Statement Warning Of 'Massive Price Hike

[toxicavenger]

These guys are tools https://www.hodinkee.com/articles/swatc ... -movements

[JP Chestnut]

I have no problem with that. Too many shitty brands have skated by - the toilet needs a flush. Terrible sales and increased movement prices should do it.

[toxicavenger]

I have no problem with that. Too many shitty brands have skated by - the toilet needs a flush. Terrible sales and increased movement prices should do it.

The problem I have after talking to my watchmaker is that the Swiss have been restricting what they would sell to him for the last 10 years. He has to practically beg them to get parts. Him and his dad have been in business since 1947. And they have been dealing with the same companies for over 40 years. They have no respect for independent watchmakers.

Hopefully now their decisions they have made in the last few years bite them back.

Because of this my watchmaker has talked me out of trying to learn the trade. There are two other legit watchmakers in my town who in the last few years went from doing real work to doing "mall watch" type of repairs. Because they were tried of the parts drama. Pretty sad.

[JP Chestnut]

I totally agree on the parts support, but whole movement cost is a different thing.

[Torrid]

I don't understand how this Comco can require them to make 1.5 million movements for outside purchase even when the demand isn't there? If for whatever reason they were unable to sell a single movement, does that mean they could effectively be ruined financially producing a product that had no market whatsoever?

It seems like a vast amount of micros are using Sellita, Miyota, and SII these days.

[River Rat]

I have no problem with that. Too many shitty brands have skated by - the toilet needs a flush. Terrible sales and increased movement prices should do it.

The problem I have after talking to my watchmaker is that the Swiss have been restricting what they would sell to him for the last 10 years. He has to practically beg them to get parts. Him and his dad have been in business since 1947. And they have been dealing with the same companies for over 40 years. They have no respect for independent watchmakers.

Hopefully now their decisions they have made in the last few years bite them back.

Because of this my watchmaker has talked me out of trying to learn the trade. There are two other legit watchmakers in my town who in the last few years went from doing real work to doing "mall watch" type of repairs. Because they were tried of the parts drama. Pretty sad.

If you really want to do watch repair. One thing I notice is not enough vintage and modern clock repair never heard it hard to get clock parts. The one and only clock repair guy in my area seems to mess them up and I have to return them for him to get it right. So clock repair mite be worth learning since it's a dying art. Mite be easier to learn the parts are bigger. Terry the GI bill mite be used to go to school for watch and clock repair school. There was a clock and watch repair shop I use to go to in Calif. the watchmaker used the GI bill after WW2 to learn watchmaking.

[matt.wu]

I totally agree on the parts support, but whole movement cost is a different thing.

Agree

[mikeylacroix]

From someone else: swatch probably just trying to get that 1.5mil quota dropped...swatch will also probably keep the same $hike.

[craniotes]

All I care about is that that's my buddy, Danny, in the header image for the Hodinkee article. Not sure why they used him, considering that he's a Patek watchmaker, but whatever. Dude knows his shit.

Regards,
Adam

[toxicavenger]

I don't understand how this Comco can require them to make 1.5 million movements for outside purchase even when the demand isn't there? If for whatever reason they were unable to sell a single movement, does that mean they could effectively be ruined financially producing a product that had no market whatsoever?

It seems like a vast amount of micros are using Sellita, Miyota, and SII these days.

Micros are using other movements because Swatch has turned into a pain in the ass to deal with.

[toxicavenger]

I totally agree on the parts support, but whole movement cost is a different thing.

true

[toxicavenger]

I have no problem with that. Too many shitty brands have skated by - the toilet needs a flush. Terrible sales and increased movement prices should do it.

The problem I have after talking to my watchmaker is that the Swiss have been restricting what they would sell to him for the last 10 years. He has to practically beg them to get parts. Him and his dad have been in business since 1947. And they have been dealing with the same companies for over 40 years. They have no respect for independent watchmakers.

Hopefully now their decisions they have made in the last few years bite them back.

Because of this my watchmaker has talked me out of trying to learn the trade. There are two other legit watchmakers in my town who in the last few years went from doing real work to doing "mall watch" type of repairs. Because they were tried of the parts drama. Pretty sad.

If you really want to do watch repair. One thing I notice is not enough vintage and modern clock repair never heard it hard to get clock parts. The one and only clock repair guy in my area seems to mess them up and I have to return them for him to get it right. So clock repair mite be worth learning since it's a dying art. Mite be easier to learn the parts are bigger. Terry the GI bill mite be used to go to school for watch and clock repair school. There was a clock and watch repair shop I use to go to in Calif. the watchmaker used the GI bill after WW2 to learn watchmaking.

Mike where I live at we have 4 clock repair guys. They are in our NAWCC. I am using my Gi Bill right now for an IT degree. But good looking out bro.

[hoppyjr]

It sounds to me like the Competition Commission "Comco" is a regulatory arm of the government in Switzerland. I don't blame ETA, I blame excessive regulation in what should be free-market activity.

Also, unless I read it wrong, it mentions ETA "may" increase, not that they will.

[poppydog]

Don't know if it's to do with sterling and brexit or this, but Breitling prices in the UK have risen this month but Omega hasn't (yet!).

[Ryeguy]

If I understand this correctly, first Swatch decides to stop supplying movements to 3rd parties. The third party customers (Tudor, Breitling, etc) take Swatch to some regulatory commission to make them continue supplying movements at least through the next few years as cutting movement supply would hurt their business.

Now that the 3rd parties have found alternative movements, Swatch is crying that they have (and must continue to) over-produced ETA movements?

I have no sympathy for Swatch. They made this bed and it should have been easy to predict major ETA customers such as Tudor would seek alternative movement sources to protect their business. I find it somewhat satisfying to see Swatch's strong arm tactics come back to hut them.

BTW- there aren't enough micros in the world to use up 1.5 million surplus ETA movements. I think it was Tudor who hurt them the most by not buying the 700,000 movements Swatch anticipated. This also gives us some idea of Tudor's sales volume - at least the volume 4 years ago before the switch to in-house movements.

[toxicavenger]

If I understand this correctly, first Swatch decides to stop supplying movements to 3rd parties. The third party customers (Tudor, Breitling, etc) take Swatch to some regulatory commission to make them continue supplying movements at least through the next few years as cutting movement supply would hurt their business.

Now that the 3rd parties have found alternative movements, Swatch is crying that they have (and must continue to) over-produced ETA movements?

I have no sympathy for Swatch. They made this bed and it should have been easy to predict major ETA customers such as Tudor would seek alternative movement sources to protect their business. I find it somewhat satisfying to see Swatch's strong arm tactics come back to hut them.

BTW- there aren't enough micros in the world to use up 1.5 million surplus ETA movements. I think it was Tudor who hurt them the most by not buying the 700,000 movements Swatch anticipated. This also gives us some idea of Tudor's sales volume - at least the volume 4 years ago before the switch to in-house movements.

right

[t20569cald]

All I care about is that that's my buddy, Danny, in the header image for the Hodinkee article. Not sure why they used him, considering that he's a Patek watchmaker, but whatever. Dude knows his shit.

Regards,
Adam

Would appear that Danny is giving some presentation on an ETA escape wheel, so a fair ''stock picture'' to use

[hoppyjr]

However.....when Swatch/ETA announced they wouldn't be supplying movements, other companies stepped into the void. This is free market capitalism at its finest. That a government agency stepped in and forced Swatch/ETA to produce excess movements is the cause of the problem. Had this not occurred, other manufacturers would have supplied movements and watch companies would have been just fine.

I can understand some requirement that ETA supply spare parts, but this wasn't the "greed" of Swatch/ETA, this was government involvement in what should be a private business decision.

Had it be left to Swatch/ETA they wouldn't have produced these excess movements. If they experienced hardship as a result of that decision, absent government involvement, then I'd agree they made their own bed, now sleep in it. I don't understand the hatred directed toward them.