JLC RRP Dropping | Jaeger-LeCoultre Down!
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- เผยแพร่เมื่อ 20 ส.ค. 2024
- #watch #mensfashion #jaegerlecoultre
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JLC pushed the envelope too far last year with their crazy price increase. And here in the US, customer service is not good . Disappointing.
Darn tooting.....
Idk about where you are, but at the NYC boutique their service is exquisite.
After a 45% price increase without updating the watches in one year. JLC took the piss, I know all watch prices are up but how JLC did it rumbbed me the wrong way so much, I'll not be buying anything from them. I owned a new Reverso Mono and was upgrading it to a Duo, then they hiked the prices "I'm out" when and bought the New Speedy.
The irony of buying an Omega in retaliation of another brand putting prices up! 😂
@@KeepingWatchUK Yes Omega put their prices up, so did Rolex and every other brand. Omega did bring a new Speedmaster to market. Most people just didn’t realise how undervalued the Speedmaster was, it’s priced just about right now in the market, JLC could have at least made the Reverso a chronometer, JLC -/+ is very wide, they don’t even state it anymore on the site.
45% Increase in one year? I have heard that they increase prices, never seen by how much.
@@bertholdbach4959 The percentage is correct, no collectors are talking about JLC now, who couldn’t recommend JLC with a straight face. The Santos has become the go to square watch now. They got greedy, funny how Rolex didn’t hike their prices up to grey market prices.
Wait until you service one and get the bill.
I’m a JLC fan too, but I agree with everyone else that they deserved a hammering for trying to gouge their customers and thinking they could act like grey market floggers of hype pieces.
I have not bought a new watch since forever. Went window shopping at Westfield Stratford on bank holiday and boy are prices ridiculous and do not make sense. Breitling and Bremont cheapest are £3k plus and is huge. Oris and Tag Heuer cheapest are £1.5k. Nothing really that you can comfortably gift to someone. No wonder Tudor and Christopher Ward are killing it in the new and used market.
By the end of December 2021, JLC had released an update to the ultra Thin Moon. The movement was thinner, and I think the case thickness reduced as well, 70 hour power reserve and the hour markers were longer than before. Price was maintained at £8,500 as it had been for a couple of years. First week in January 2022 it went up to £9,400, a few weeks later, £9,500 and then two or three months later, up to £10,800. IN 2023 it went up to £11,400. This was all a deliberate move for JLC to go further upmarket but it did backfire on them to an extent but the point is, they don't want the likes of you and me as customers (unless you, with your history go on to buy a gold perpetual followed by more gold watches). The person who only ever saves up to buy one stainless steel watch from them and that's it, does not set their little hearts on fire and I guess the loss of sales from the likes of us, has not been compensated by a flood of upmarket purchasers.
Thanks for filling in the gaps.
I don't think JLC thinks that way about us. Rather, you have to ask yourself how much influence Richmond has in pricing policy and not JLC itself.
JLC sales will have haemorrhaged since the '22 grand-gouge. I don't know what planet they were on - they are 'under-valued,' but they weren't 'under-priced!' Were JLC ADs selling out? Err, no, they were struggling. Not alone though, VC also took the pi55 in '22, with IWC and Panerai already high. Richemeont effectively killed their ADs in one year, but then realised no-one was shopping in their boutiques... doh!
Saw the title.. got excited! Let’s see what’s happening!
I am interested in the Master ultra thin moon, and check prices from time to time. Yes you are right it was over 11K GBP, now 10,400
Andy, we are in an Inflationary crisis and people are not buying the hype of these watch companies like they used to.
There’s no hype in JLC.
I'll echo your and others' comments. JLC and other 'second tier' brands (i.e not Rolex/AP/PP/VC) saw the 2020-2023 Rolex nonsense and got greedy. Prices went through the roof, with JLC being the worst culprit closely followed by Omega. The demand was just not there and now they are left with a collection of overpriced watches that nobody wants. I like JLC and Omega, but have no sympathy. Here's to more price drops.
Nope. Price increase was perfectly justified and the right move for the brand. People who expect a JLC for the price of a basic Omega are simply out of touch with what the brand represents and what its market positioning should be.
@@Rodisflawless The basic Reverso went from under £6000 to over £9000, and the Duoface from about £7k to over £10k. Nobody 'expected' the original price points, but whether this reflected their market position at the time or not, such large increases were not justified. The attempt to reposition themselves in the market by bumping up prices has obviously been reflected in poor sales, hence the recent drops. IMO they saw an inflated watch market and thought it was the perfect time to make an upwards move. And they almost got away with it.
I see it the same way, the price increases were urgently necessary. There are always these stupid sayings like, JLC is in the 2nd row and things like that. Total nonsense, they're basically on the front lines. Not even A.L&S can piss on them. You have to make that clear to yourself first. Patek and VC would charge at least 3 times as much for such a Reverso chronograph, A.L&S would probably charge 4 or 5 times as much. And none of them would be able to do it like JLC. We buyers are the real problem. Everyone has to be aware of this first: if we can't afford a watch, then we're just out of luck.
But there is something else entirely to consider. Who really makes the prices? We are so fixated on brands, but do the watch brands still have a say when it comes to accounting. What is Richmont doing? Are they sitting comfortably in their armchairs and thinking, ach, JLC will already do that?
@@georgeii2629Anyone who says that JLC is on par with ALS or PP in terms of execution clearly has no idea what they are talking about. In any event, the market has spoken: JLC had to drop its price in the face of a drop of volume. So much for the "urgently necessary" price increases.
@@johnnyguitar6697 This kind of thing always comes from people who have no idea. Ask an expert.
Many thanks for the great video. The price increase of JLC was more than weird. Some 60 % in the last 4 years? Maybe they wanted to reduce drastically the production output. Ruined the reputation. Takes years to come back. Positive: Saved a lot of money :)
I noticed this with the reserve de marche. I nearly bought one at £8500 when checked a few months later they were £9400 then all of a sudden they were over £10000 it totally put me off
Great video……. 👍
I agree JLC is a lovely brand and definitely one I’d like to own one day!
The fact that they have pulled the price down not only to a lower level than the 2023 price, but also that of September 2022 tells you everything about how precipitous a drop of sales they must have experienced. You can always rely on Richemont to time the market apallingly. After 2010 it was with volumes, this time around it's pricing.
Toothy grin ~ Exactly! 100 % Agree! Keep up the amazing work. Aka Mr Valjoux
You're right ! In Switzerland, prices of Panerai has been reduced by 500 CHF per model. For example- Panerai due 6700 CHF to 6200. & I also noticed a price drop on B&M. In my perspective, This is a great move by Richemont.
Panerai is crap. They were way overpriced to start with.
@@Rodisflawless it's not crap ! Panerai has unique design , their movement are in-house ( they stopped using eta's). Their high end catalogue models are extremely beautiful yet rich in complications & design. They are build like a Tank. One of popular swiss watch brand. They have true history. They started to offer open case back models more these days. They offer small sizes.They have fixed all of their past mistakes. If you ever had a Panerai you wouldn't say this. Try them. You're getting value for money especially after discount from AD. Almost most luxury brands Entry level models are mediocre like Rolex, omega, cartier, Hublot, iwc. If you know, you know.
@athit673 no thanks. Panerai is garbage. Weak history, poor finishing and overall quality, modified ETAs and Unitas movement in the 318, overpriced junk for people who don't know much about watches. And that's not even mentioning the design.
@@Rodisflawless it's clear that you don't know anything about watches. Never used any or still staying under a cave for long time & watching some paid useless angry dutch man videos. Goodluck. 🤦
You clearly have no idea about watches. You've been living in the past (cave) & check your facts right. I don't think you own any luxury watches or have any real knowledge. You're talking about 15 years old model. Good luck buddy. @@Rodisflawless
The UP rush is just over...back to reality now, and I think this is just the beginning.
Thanks for the video Andy, this is excellent time to buy that watch you have been after. If it is a high end model, thats been too expensive in the past and out of your budget. There some good deals out there on new and second hand stock. It’s a buyers market. At some point the prices are going to increase. So take advantage if you have the funds.
Thank you for another informative video. Zenith are selling at discount now too
I think it’s the currency. It’s the same in Canada. Must be GBP going strong so they had to adjust the price
Interesting also that the received wisdom in the YT watch world has been “SRPs won’t come down - no brand can do that”. Well, it looks like they were wrong. I wonder if when faced with plummeting demand the big brand watch sector will go the way of EVs with huge cuts in list prices? 🤔. The assumption that selling fewer watches at much higher prices will make ever bigger profits is predicated on demand not falling below a certain level. That assumption appears to be misplaced.
On 1.1.24, the CHF/GBP rate was 0.93, and today it's 0.88. Swiss currency is therefore cheaper, so Swiss watches should be cheaper in GBP. While watch dealers may not adjust prices daily based on exchange rates, these adjustments should be made over time.
The green dial Polaris is currently $11,100 in the US market. I don’t believe there have been any reductions here in 2024. Every market is treated differently. By the way, I love the Duometre line, but they are a bit too expensive for me. 😊
JLC prices fluctuate monthly based on exchange rate of the dollar vs the swiss franc
Whole market dropped and JLC thought it was a good idea to continue to increase and increase prices... what a way to disrespect their customers.
All brands increased!
Omega usually have 3 per year.
@@wristopia4101 All brands increased their prices due to inflation... but some increased it even more than that out of greed and are trying to force their way up market only to realize that a lot of customers aren't willing to pay +40% for a JLC.
@@wristopia4101 Of course there should be adjustments to inflation... but 40%? That's just greed and ego.
@@tonyl7000 I agree. Am just pointing out that the whole market did not drop as you said ; )
I think JLC decided they were losing customers by increasing their prices so much. The Cartier boutique is almost directly opposite the JLC one on Bond St and I noticed how much more you can get for your money in Cartier. Complete different market segment but Bremont have likewise also reduced their prices and the rumour I heard was that the CEO said it was for that very reason.
Panerai, which is also a Richemont brand, keeps raising the prices. I don’t know what is the limit. There is no justification. They simplified their products and cost many costs.
I really would like to understand their marketing strategy. They have lost 3 positions in the revenue ranking of luxury watch brands.
New Polaris coming up May 21st.
Yes - forgot to mention that. Looks like a perpetual calendar variant as it has the case pusher on the left side of the case. Probably a dial colour - green maybe??
@@TheEnglishWatch Geographic
I bet it's going to be a dial colour change on an existing complication. That's all JLC does these days.
Well, JLC is now selling even less than before. Not a smart move so lets hope they correct it.
I see no price changes on the USA website
Hi Andy love your videos it’s like been in mates bedroom talking hobbies etc. I think JLC overdid their recent price increases and due to lack of demand are now rowing back
Hi Andy, I just looked at the JLC prices in US, they are still unchanged. I hope they are not lowering it in UK only.
I bought the previous version (less power reserve, slightly shorter indices) of the Reserve de March with a silver dial last year. It was unworn , box and papers with 14 months of the warrantee used up. $8K. I still wanted a moon phase though so I bought a second ultra thin this year brand new with the black dial. It was $3K more. I found a brown JLC strap for the Reserve de March so the watches contrast each other nicely.
Hello Watch People‼️
I think any watch enthusiasts love JLC Andy keep up the good work 💪🏽
I was looking at the JLC website in the United States 🇺🇸 in the price on the Polaris Mariner Memovox continues the same $20600 USD
Now on the Pre Owned Market is dropping tremendously in price.
Definitely all watch makers are raising the prices, personally i think IWC and JLC when nuts on the increase any how fellas is nice talking to you
Cheers from Florida
Bruce
I think things are slowing even more in the past month
they can't sell watches, very simple. most brands are struggling right now
I’m a big fan of JLC but got priced out. Still like their watches a lot, just don’t have the budget.
I love JLC. I always felt like they were the sleeper brand. Amazing technical prowess, understated, elegant and a brand for those that know (unlike Rolex).
The prices for second hand are still a deal but not at retail.
I was checking the website yesterday and thought similar, assumed I got it wrong before.
JLC are absolutely mental. It might be viewed as high horology but unless you're a watch enthusiast nobody knows who they are. The mainstream brand prestige isn't there IMO. Now as much as I'd like to add a Reverso to my collection the prices are ludicrous. The mono should be a 5-6k watch max. Its a long way back for the brand now.
It might be boring but I'll stick to Rolex at RRP and Omega pre owned. At least that way i can enjoy the hobby without burning cash and paying 50% above what the market says its worth.
JLC is having a hard time. So is Blancpain.
JLC navy seals diver from 2013-14 compressor the best , after that they have given us stuff we don’t want!
@@Leftystrat got a reference of that one maybe?
@@Leftystrat maybe you mean 162.8.37?
@@cedarcanoe q2018470
Blancpain needs to redesign their Villeret dress line. They’re so uninspired. Also, I think it was a mistake to kill the comparatively more interesting Leman collection.
Bought JLC Master Control Calendar - the blue dial version - in May '22. Prices went up after that and still more rrp than I paid
There’s no question JLC can make a spectacular movement and overall an amazing watch. But their case designs are so simple. Round glass, round bezel, round case, it’s just so basic. Movements 10 of 10!! Case 7 of 10 IMO.
Manufacturers cashed in by increasing list prices when secondhand prices were high. I suspect that now secondary market prices have dropped and (possibly) stabilised, list prices will have to realign.
It's possible that this is made worse for the manufacturers, as the events of the last few years mean that more people are now aware of the secondhand market, so selling at list is a little tougher (except for Rolex).
I visited JLC boutique almost a few times a year every year since 2021, and I always hear the salesman saying I need to buy it now cuz next quarter there will be a price increase!! I lost interest after a while cuz I couldn’t justify the prices anymore.
JLC used to be criminally undervalued, then they pushed the prices into 6th gear. I think this a normal correction to a price hike that was not backed by any kind of movement up market. Thanks for the video.
Cartier looks fantastic!
I just looked on the USA website and yeah the prices are slightly lower, though not for example on the Reverso Chronograph which is still at $25K . I also noticed that they will be releasing new Polaris models in 13 days. they have a countdown up
For the Polaris, price going down may be due to new Polaris coming very soon. A.D. may be trying to sell before.
Longines, new and used seem to have gone up in price, hard to find good ones at the low prices of a year ago
Perhaps they picked up the slack from Omega
it is not because of inflation, but because of the bad economics, people keep their money for more necessary and urgent spendings :)
But because all other essentials cost 20% more, due to….inflation.
@@martinover7927 cost is no mores than 20% of the price of this class of watches :)
I'll wait for more price drop as JLC went crazy with price increases last few years. It could also be that JLC wants to push some new higher end complication pieces which they cost much more, we'll see.
JLC used to be a great value for the price. But now they're in the price bracket that there are a lot better options in that price category.
People are back spending on life events such as vacations, home improvements and other experiences. With the global uncertainties I think many have held back luxury purchases. I know I have friends that have said they will hold off as we all feel it’s coming back down. It’s certainly not going up anytime soon so there is nothing to lose by waiting another 6 months to a year for that deal.
JLC (and others) need some serious entry level pricing for wrist watch enthusiasts. This would help open and build their brand instead of them just assuming that they are so great (of which they definitely are fantastic but the brand overall just feels so unattainable as they are not known by the public).
Believe you need to factor the GBP/CHF exchange rate in your explanation. JLC publish their official prices in Swiss Francs worldwide and it gets converted into local currency according a regularly revised exchange rate, nothing new. They might increase their CHF prices year on year but the exchange rate might go down by more than the price inflation. This is the explanation for me
Some could say its a reverso on the price......lol I picked up the reverso tribute in green at 8800, pre 10400 so ill be interested in seeing the price now if there is any change
I picked-up a beautiful Reverso Squadra Hometime in mint condition, just serviced, with a new strap… For £4k 🤣 could not believe my luck! Absolutely love it and much prefer it to the Kalpagraphe with a wad of change I swapped it for!
This a common trend throughout the luxury collectible world. Prices saw large increases during covid on the secondary market due to supply chain issues and shortages.
You had a lot of people jump on the bandwagon and buy purely as an investment. Now with no supply issues, overall inflation and economy somewhat struggling, prices are starting to come back to where they should be.
Very niche JLC, I have not seen many wearing them in Australia
Would have to say price drops tend to occur when items are not selling . It seemed to me that watch brands were monstrously greedy post covid. This has coincided with the watch boom collapsing.. I feel that this could be a very testing time for many watch brands as the interest just isn’t close to what it was and think some will do well to survive .. in my opinion there are few greedier than the Swiss watch industry so I certainly wouldn’t be shedding any tears if the walls came crashing down
First of many
I got my Polaris Date 3 years ago with a decent discount, so glad I bought then.
JLC will announce its novelties in 13 days. Wait and see.
Submariner (not date) and then I am out of the highish end from AD's I think.
End on 'The' Classic.
Was fun while it lasted.
I just got a master collection longines retrograde moonphase..
What do you think of longines watches ?
Longines have some nice pieces and operate nicely in their cost band just under Tudor.
rolex omega Dropping | Jaeger-LeCoultre Down!
Omega needs to drop their prices. Who do they think they are with their prices?? Rolex??
clear sign of getting too greedy - the management team shall be fired
A Piaget I've been looking at reduced by £800 from May 1st. I still haven't bought it though may
Push hard for a discount in the store as well. How many watch sales do they make per month, 2?
@@MS-tg6hc How hard is acceptable to push? I may take that route
@@cryptomcpoopypants8511 I don’t have any personal experience with Piaget, but I would start at a cheeky request for 15-20% (but if that’s too embarrassing, just ask them what flexibility they have on pricing), and when they push back say you’re ready to make a purchase if they can give you at least 8-10% off. Just a suggestion.
When the Polaris Auto SS costs circa 3K more than an Explorer 40 it’s a wonder how they sell any at all! Whilst I typically like JLC & the owner, her pricing strategy over last few years has been very misjudged generally imho & that puts me off every buying one.
JLC has a storied history and should be selling watches with the quality of the trilogy at palatable prices. Unfortunately, they are designing timepieces that are difficult to love. They should reintroduce the master compressor series at 40-41mm to compete with Rolex, Blancpain, Omega & GO. What is the benefit of purchasing their timepieces when they depreciate so dramatically, especially since the retail prices are ridiculous.
Great perspective. JLC gets a nod, a nice compliment then tried digging their fingers through not your chest to harvest your organs as payment.
JLC are they truly nice anymore, they were a cornerstone of Horological history. Their building has been demolished. Like a past lover you still long for. T)
The 40% increase was one of the only things watchmakers have done that has probably put me off for life (not that I was ever that close to actually buying one).
I am waiting for a polaris chrono with a real white or panda dial. They should do it sooner then later imo
Good spot, in Paris the MUT 36mm dropped with 2950 Euro 🤯
JLC took the praise of watchmaker of watchmakers too seriously, got them thinking they were Rolex 😂
They were a few years too late to the price increase wars... They should have started increasing their prices earlier but mild and not so aggressive of a jump
I also experienced these 3 price increases in 2022, and I also wanted to buy the Master Tin Moon back then. I ended up buying it from Chrono24, which I actually don't like. I was also very surprised by the price reduction. I was wondering what people who bought the watch for €12,800 would think if they now bought it for €12,200. It's actually a bad joke, isn't it?
That’s the conversation I had in Watches of Switzerland this week. Bullet dodged.
@@TheEnglishWatch You have to ask yourself how much influence JLC actually still has, or whether this whole price thing isn't just being done by Richmond alone. I don't think a watch brand would have done this nonsense with the horrendous price increases, and than this idiotic price reduction. Things like that only unsettle watch lovers.
JLC is one of the great brands, no question about that, but they're far from being one of the best-selling brands - that's just the way it is. The recent 40% price increase was an interesting experiment to break that status quo. So now it's reduced slightly - but they're still way up on what they were a year ago. Time will tell if they've succeeded or not.
Andy, IWC had some smaller adjustments as well...
But the Swiss rrp price is still the same so it’s just currency exchange causing the drop
"Duometre Quantieme Lunaire" is like a movie title you can't recall. JLC is phenomenal, but from constant design changes to niche marketing, they consistently miss the mark on building brand value.
Sir, have you noticed any issues with the power reserve?
No such price drop in the Netherlands… Perhaps this is a UK only thing due to GBP vs CHF?
The simple answer is they took the piss a bit too much 🤔 people aren’t buying watches in general and certain companies are really suffering because they have a stale out of date collection. Omega springs to mind 🤔 I’ve noticed Omega secondary prices are tanking quite a bit lately too 👎🏼
The microphone seems to be a bit too sensitive. It’s picking up a lot of extraneous sound. Felt it was quite distracting.
Only 10200 Pound? I need to grab one now.
In the us prices are just as high, nothing has come down
Don't get too hung up on the 'official retail list price'. The real price is what sales are made between customers and sellers. Many major brands are customarily sold at well below list, eg Omega in Japan; and some much closer to list, eg Rolex and PP. In East Asia, new JLC often sells at 25% to 30% below list by official dealers. And Tudors, official dealers usually start bargaining at 30% off list. Boutique brands, eg Grand Seiko or Hermes, because they have a smaller sales network, are better at holding their pricing. I haven't seen anyone getting a new Grand Seiko from official dealers at more than 20% discount.
IWC secondary dropped like a stone
Manufactures need to move inventory. Sellers need to move inventory. Buyers need to buy grocery and fuel. Something has to give.
£10,800 is unbelievable for a MUT Moon, I had one back in 2015 and I thought the price was decent back then (I think it was about £6k). I’d have been seriously disappointed with the quality if I dropped 5 figures on it.
still too high for the market. With liquidity crunch and deficit and all time high government debt there is bound for something to break and watch market just like everything will crash (just look for repo rate uninversion as a trigger for things to go down ).. JLC and watch brands ( except patek / RM and maybe rolex ) get prepared to sell for 35-45% off and am waiting with cash when that happens which BTW is growing by 7.5% in asian banks
Who in right mind pays list price for a JLC anyway? Minimum 20% off.
YAAAAAYYYY
JLCs "premieisation" seems to have flopped.I also have the blue med Santos and although also in the Richmont group, they didn't go mad with price increases.I have seen a good argument that, compared to other brands over many years,Cartier pieces should cost more.Regards.
I think Cartier have done really well to keep themselves in check.
I was once told by a Cartier AD that their prices have historically gone down as well as up at retail - they must monitor sales and adjust the RRP dynamically. No mention that it was me that put this guy in to Berrys for the held price MUT Moon - go figure. Lol!
It's just adjustment versus Swiss Franc.
Have you ever considered a specialist watch insurer rather than adding to home contents?
Never had to as the total of my collection is pretty low, so falls nicely under the ceiling for home cover.
No wonder - their aggressive compound interest upwards J curve pricing model has gone pop - people don’t fancy paying gold prices for the stuff your knives and forks are made of.