Is your name on the waiting list? How long will you wait? Most probably, those who prepared the list do not know the answer to this question. Alternatively, the answer is not known because that list never existed.
We have been saying that watch trade shows have lost blood in recent years. It’s obvious. Besides the decisions taken by the brands, you can see the situation clearly, when you look at the organizations.
Dubai Watch Week, which was held for the fourth time this year, is an important alternative to the usual trade show concept. Organized by the partners of the Seddiqi family, the leading luxury watch retailer of the Middle East, the organization is held every two years. Dubai Watch Week, which has become a pleasant environment with the participation of press and collectors, invited from all over the world, offers an experience that is much more than a watch exhibition. Horology panels that bring excitement with their esteemed participants are among the most striking events in the organization where around 30 brands exhibit their watches.
In the event where you can easily organize your entire schedule through the application exclusively prepared for the organization, everything has been thought for the comfort of the participants. The environment, which seemed much tidy and richer than the previous meeting, made a quick opening with the first panel of the day.
A topic of interest for all watch enthusiasts was discussed in a pleasant environment, moderated by our esteemed friend, journalist writer Robin Swithinbank. In particular, Mohammed Seddiqi’s comments enlightened us and brought the discussion to a completely new level.
When it is said that Rolex’s GMT Master II model – aka Pepsi, which has recently received a great deal of attention, has a waiting list of around 2,000 people, it shouldn’t be difficult for you to picture the audience’s reaction. Let me add that only 200 of these are regular customers of the Seddiqi organization. The watch collector Hamdan Al Hudaidi, one of the participants of the panel, among the regular purchasers, did not hesitate to share that his name appears on the waiting lists from time to time.
Adam Craniotes is a well-known name in the world of watches. He is the founder of the Red Bar community. He is also the editor-in-chief of the American Revolution magazine. Whenever the waiting lists are mentioned at the Red Bar meetings, he says, the tension begins to increase.
There are different ways to get to the watches, and there are different reasons why your name should be written on the waiting list. Recently, especially due to the skyrocketing prices of steel watches in the second-hand market, some certain models came to the forefront by the interest of people irrespectively of knowing about watches or not. If you manage to buy them at retail one way or another, you can make a serious profit by selling them the next day. Most of the time, we witness people even with solid financial status, chasing after these watches.
As discussed in the panel, dealers and boutiques are now starting to pay attention to the clientele profile they sell. If they decide not to give the watch for some reason, they do not use the "waiting list" excuse and clearly state that they cannot give the watch to them. Stating that the brands are uncomfortable with the situation and approach to the issue with great importance, Mohammed Seddiqi says that they deliver the watches to everyone on their waiting list and always will no matter what.
As the market is now tightened, even the most popular models have begun to depreciate. We would be safe to say that the dealers, who bought every single watch offered in the market to keep the prices at the highest level, are now the flag of regret. Let me add that, the situation will be graver in the upcoming days.
Greeting to all of you from Dubai Watch Week, where we work with great pleasure.