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Fearsome Puppy · 20 July 2010, 10:57 PM

Was in the just opened AD in Shanghai Pudong today and talking to the Manager she informed me that there was as of July a price reduction across all models

Don't get too excited though as China has huge sales tax and an increasingly strong currency and all this does is bring it a bit closer to Hong Kong prices (but still significantly higher) in an attempt to stem the flow of cross border purchasing. Rumor has it that unto 80% of all lux goods in mainland China are purchased in HK.

Psmith · 20 July 2010, 11:02 PM

Interesting - I heard a whisper that this was happening in other countries as well...

ParisDakarBmw · 20 July 2010, 11:08 PM

That would be great!

Trurolexer · 21 July 2010, 01:22 AM

Nice info...

B. Doggy · 21 July 2010, 01:50 AM

Have we ever seen a luxury brand impose a price reduction? Not to my knowledge??...

L-16610 · 21 July 2010, 02:11 AM

Quote:

Originally Posted by ParisDakarBmw

That would be great!

no that would be bad.
Why buy a watch today if MAYBE it will be chepaer tomorow ... a very bad thing

mfer · 21 July 2010, 04:15 AM

Interesting.........I might have to call my AD to hear about this.......

ffejk · 21 July 2010, 05:29 AM

Anyone know if it applies to the US?

akira23 · 21 July 2010, 05:54 AM

I don't think so ffejk... I was at an AD in Orlando this weekend and the sales person did not mention any sales and or discounts on their PAM selections.

ffejk · 21 July 2010, 07:57 AM

Thanks Akira, just wishful thinking I guess...

esm · 21 July 2010, 09:37 AM

so only in Asia?

Anyone know if it would apply to Taiwan. Will be heading out that way in November - maybe a good idea to pick up a PAM

Evan614 · 21 July 2010, 10:04 AM

Art of Time in St. Marteen offered me a PAM 213 for 11k (or 11 something) Didn't know if that was a deal.. I just told him I got a lower price back in the states.. he tried to press me for that amount. Since I was lying through my teeth, I kept my mouth shut hoping he would come down some more. (didn't happen).

zlin08033 · 21 July 2010, 11:46 AM

Quote:

Originally Posted by Fearsome Puppy

Was in the just opened AD in Shanghai Pudong today and talking to the Manager she informed me that there was as of July a price reduction across all models

Kevin: is this price reduction only in China?

B. Doggy · 21 July 2010, 12:24 PM

Folks- Do recall that price reductions were the chatter when S$%& was hitting the fan in the States back in 2008. Others are starting to see the ripples, Europe and Asia included. I'd venture to say that there are macro economics at play here to hedge any price decrease. My $.02....

Fearsome Puppy · 21 July 2010, 10:29 PM

I would suspect that it is only in China as Panerai are looking it from a strategic viewpoint to build the brand and create sales in-market, China is currntly the worlds no. 2 luxury market and yet still upto 60% of all luxury goods are not purchased in China with the majority of cross border sales being in Hong Kong (validated by Bain research, btw HK and mainland China are often considered seperate markets) which is pretty easy for mainlanders to visit.

The incentive for this is the huge price difference where China has sales tax and HK has none and further been compounded by the Chinese government's decision to let the Chinese yuan appreciate against the USD (to which the HKD is pegged) which will obviously make the HK option even more attractive.

In fact when the manager saw my 312 one of the first things she asked was whether I purchased it in HK.

As mentioned in my previous post though, unless you are looking for a hard to find model (a good example is that you can see SS daytonas in AD windows), don't get too excited as pricing will still be considerably higher than HK, US, UK etc....

Hooe that helps, sorry was in a rush so have no figures relating to the actual price decreases...

leeye · 22 July 2010, 12:37 AM

have not been to the Panerai outlet in Shanghai for a while now. maybe time to drop by.

canwatchco · 22 July 2010, 02:14 AM

Likely limited to China. Likely currency driven. Note that Panerai has twice raised Europe prices during 2010 to reflect the drop in the Euro. Here in Canada, there was a significant price drop when our dollar ran its way back to near par with the US$. Now the retail prices are pretty much the same across North America.

esm · 22 July 2010, 03:01 AM

FYI

popped into one of the very few Panerai ADs in Central London to enquire 210 / 183 / 88.

when mentioned about the price reduction - they were like... WTF? so not in the UK.

DS_Obsessed · 22 July 2010, 04:15 AM

Definately currency driven.

htc8p · 22 July 2010, 12:44 PM

to sell higher volume to sustain growth. i think they can produce way more qty of models

20 July 2010, 10:57 PM	#1
Fearsome Puppy "TRF" Member Join Date: Mar 2010 Real Name: Kevin Location: Kuala Lumpur Watch: SD4K Posts: 880	PAM price reduction - countrywide Was in the just opened AD in Shanghai Pudong today and talking to the Manager she informed me that there was as of July a price reduction across all models Don't get too excited though as China has huge sales tax and an increasingly strong currency and all this does is bring it a bit closer to Hong Kong prices (but still significantly higher) in an attempt to stem the flow of cross border purchasing. Rumor has it that unto 80% of all lux goods in mainland China are purchased in HK. __________________ Lange 1815 Chrono, AP ROO 26470ST, RO 26230ST, Rolex 216570 (w), 116600, 116520 (w), IWC XV, PAM 366, 420, Omega 311.30.42.30.01.005, Seiko SKX007J, Apple Watch, a bunch of G-Shocks -------------------------------------------------------------

20 July 2010, 11:02 PM	#2
Psmith "TRF" Member Join Date: Sep 2008 Real Name: Clive Location: Exoplanet Watch: spring-driven Posts: 38,856	Interesting - I heard a whisper that this was happening in other countries as well... __________________

21 July 2010, 01:50 AM	#5
B. Doggy "TRF" Member Join Date: Aug 2008 Real Name: Bryan Location: Oregon Posts: 7,399	Have we ever seen a luxury brand impose a price reduction? Not to my knowledge??... __________________ Rolex / Panerai / Omega

21 July 2010, 04:15 AM	#7
mfer "TRF" Member Join Date: Mar 2007 Real Name: Mik Location: USA Posts: 13,724	Interesting.........I might have to call my AD to hear about this....... __________________ member#3242

21 July 2010, 10:04 AM	#12
Evan614 "TRF" Member Join Date: Dec 2009 Location: Buckeye Nation Watch: out 4 Panerai bug Posts: 414	Art of Time in St. Marteen offered me a PAM 213 for 11k (or 11 something) Didn't know if that was a deal.. I just told him I got a lower price back in the states.. he tried to press me for that amount. Since I was lying through my teeth, I kept my mouth shut hoping he would come down some more. (didn't happen). __________________ #1 Two-Tone Yachtmaster, Blue -Z series #2 White Daytona SS - Z series #3 PAM 88 M Future dissolution of monetary funds will be for a Panerai 212

20 July 2010, 11:08 PM	#3
ParisDakarBmw Banned Join Date: Dec 2009 Real Name: Paul Location: New Haven, CT Watch: 116610 Sub-C Posts: 6,552	That would be great!

21 July 2010, 01:22 AM	#4
Trurolexer Banned Join Date: Dec 2007 Location: USA Watch: 5513MaxiI+PreComex Posts: 18,421	Nice info...

21 July 2010, 05:29 AM	#8
ffejk "TRF" Member Join Date: Jul 2010 Location: LA Posts: 7	Anyone know if it applies to the US?

21 July 2010, 05:54 AM	#9
akira23 "TRF" Member Join Date: Jul 2010 Real Name: Marty Location: Florida Watch: Pam 1313 Posts: 456	I don't think so ffejk... I was at an AD in Orlando this weekend and the sales person did not mention any sales and or discounts on their PAM selections.

21 July 2010, 07:57 AM	#10
ffejk "TRF" Member Join Date: Jul 2010 Location: LA Posts: 7	Thanks Akira, just wishful thinking I guess...

21 July 2010, 09:37 AM	#11
esm "TRF" Member Join Date: Jul 2008 Real Name: Eric Location: Location,Location Watch: this, bro... Posts: 15,340	so only in Asia? Anyone know if it would apply to Taiwan. Will be heading out that way in November - maybe a good idea to pick up a PAM

21 July 2010, 12:24 PM	#14
B. Doggy "TRF" Member Join Date: Aug 2008 Real Name: Bryan Location: Oregon Posts: 7,399	Folks- Do recall that price reductions were the chatter when S$%& was hitting the fan in the States back in 2008. Others are starting to see the ripples, Europe and Asia included. I'd venture to say that there are macro economics at play here to hedge any price decrease. My $.02.... __________________ Rolex / Panerai / Omega

21 July 2010, 10:29 PM	#15
Fearsome Puppy "TRF" Member Join Date: Mar 2010 Real Name: Kevin Location: Kuala Lumpur Watch: SD4K Posts: 880	I would suspect that it is only in China as Panerai are looking it from a strategic viewpoint to build the brand and create sales in-market, China is currntly the worlds no. 2 luxury market and yet still upto 60% of all luxury goods are not purchased in China with the majority of cross border sales being in Hong Kong (validated by Bain research, btw HK and mainland China are often considered seperate markets) which is pretty easy for mainlanders to visit. The incentive for this is the huge price difference where China has sales tax and HK has none and further been compounded by the Chinese government's decision to let the Chinese yuan appreciate against the USD (to which the HKD is pegged) which will obviously make the HK option even more attractive. In fact when the manager saw my 312 one of the first things she asked was whether I purchased it in HK. As mentioned in my previous post though, unless you are looking for a hard to find model (a good example is that you can see SS daytonas in AD windows), don't get too excited as pricing will still be considerably higher than HK, US, UK etc.... Hooe that helps, sorry was in a rush so have no figures relating to the actual price decreases... __________________ Lange 1815 Chrono, AP ROO 26470ST, RO 26230ST, Rolex 216570 (w), 116600, 116520 (w), IWC XV, PAM 366, 420, Omega 311.30.42.30.01.005, Seiko SKX007J, Apple Watch, a bunch of G-Shocks -------------------------------------------------------------

22 July 2010, 12:37 AM	#16
leeye "TRF" Member Join Date: Aug 2009 Real Name: Lee Location: Singapore Watch: Too many...... Posts: 689	have not been to the Panerai outlet in Shanghai for a while now. maybe time to drop by.

22 July 2010, 02:14 AM	#17
canwatchco "TRF" Member Join Date: Apr 2009 Real Name: Bobby Location: Montreal Posts: 6,425	Likely limited to China. Likely currency driven. Note that Panerai has twice raised Europe prices during 2010 to reflect the drop in the Euro. Here in Canada, there was a significant price drop when our dollar ran its way back to near par with the US$. Now the retail prices are pretty much the same across North America.

22 July 2010, 03:01 AM	#18
esm "TRF" Member Join Date: Jul 2008 Real Name: Eric Location: Location,Location Watch: this, bro... Posts: 15,340	FYI popped into one of the very few Panerai ADs in Central London to enquire 210 / 183 / 88. when mentioned about the price reduction - they were like... WTF? so not in the UK.

22 July 2010, 04:15 AM	#19
DS_Obsessed "TRF" Member Join Date: Nov 2009 Real Name: J Location: Texas Watch: 116660 V Posts: 438	Definately currency driven. __________________ _______________________________ Currently wearing : 116000 V / 116660 V / PAM 292 / AP royal Oak Offshore Safari / Royal Oak Offshore Volcano / Tudor heritage / 116520 “For the strength of the Pack is the Wolf, and the strength of the Wolf is the Pack”

22 July 2010, 12:44 PM	#20
htc8p "TRF" Member Join Date: Feb 2009 Real Name: Bert Location: philippines Watch: 116710 ln Posts: 3,472	to sell higher volume to sustain growth. i think they can produce way more qty of models

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