Tuesday, March 23, 2021

Dear G, don't give up!

I am sorry to hear that our daily newsletter is failing to meet your expectations. You are right; recently, Seiko is getting plenty of attention. However, this is not our fault - it is the result of a number of factors. Allow me to explain.

1. There is a global shortage of high end Swiss watches. Three years ago, Rolex, Patek and even Omega have cut down production output. Last year Covid made that shortage significantly worse. The total Swiss watch production is 25% down since 2020 and total sales are half of what they were 6 years ago.

2. Consequently, there is an even greater shortage of fine pre-owned watches. Being unable to buy new stock while stranded at home, watch collectors are not in a hurry to sell. International travel is the single most important driving force in bringing quality watches to Australia.

3. Watch prices are on the rise! Money printing presses are in overrun, spitting out billions of dollars. With so much cash floating around, watches - as many other goods and commodities - are now seen as a real asset and a hedge against inflation. This is not the natural state of an economy but rather a sign of major disjointment.

4. When the Swiss abandoned the $500 - $2000 new watch market, Seiko successfully filled in the void. Seiko offers unpretentious and affordable watches which are amazing value for money. There is an enormous demand for watches in this price range.

5. For years, watch owners and collectors have been mistreated by Swiss brands. They had to put up with snobbery, restriction on supply, fake waiting lists and exuberant servicing costs. Yes, the finely crafted watches deserve our respect, but respect must be mutual. Customers are not fools and many of them have had enough of that monkey business.

6. We are in the watch business and we have a business to run: to pay wages, educate, invest and grow. We have no time to wait for Rolex to increase supply; for Omega to drop prices, or for international travel to resume. We have no time to wait. We see Seiko not just as a great growth opportunity, but as a brand that will greatly increase your appreciation of 'affordable and honest' horology.

I sincerely hope you that will not just reconsider your unsubscription but join the Seiko family as a proud owner of a new Seiko watch.

Feel free to call me and I will gladly assist in selecting the most suitable model to match your requirements and budget. And as a small token of appreciation for your curiosity, I am sending you a gift; a superb Seiko carbon fibre pen valued at $145.  

Happy collecting!

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