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puffnmo · 16 April 2008, 01:05 AM

Well, as we all know by now, we're in a recession. Yesterday they did a story on CNBC about the decline in sales at luxury retailers.

Well, over the weekend I visited Tourneau to check out their Panerais. They usually have about 5 in the display case. This time there were 16 sitting there all in rows, and there was hardly anybody in the store.

I'm thinking that Panerai and Rolex made a giant miscalculation in raising their prices by such a large percentage during an economic slump which may last for a while.

Can't say I feel bad for them. Hubris is not an appealing trait... Larry.

16 April 2008, 01:05 AM	#1
puffnmo Member Join Date: Feb 2007 Location: Los Angeles Posts: 848	A big mistake... Well, as we all know by now, we're in a recession. Yesterday they did a story on CNBC about the decline in sales at luxury retailers. Well, over the weekend I visited Tourneau to check out their Panerais. They usually have about 5 in the display case. This time there were 16 sitting there all in rows, and there was hardly anybody in the store. I'm thinking that Panerai and Rolex made a giant miscalculation in raising their prices by such a large percentage during an economic slump which may last for a while. Can't say I feel bad for them. Hubris is not an appealing trait... Larry.

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