Strange happenings in Hong Kong - grey market dealers

[QuelleHeureEstIl]

Participated (online) at the HK Antiquorum auction today. So many lots passed. I have finally not bought what I expected because, it shows that there will be more pressure on prices even for more collectible/vintage pieces.
Keeping my money to find better watches next auction round in 2023. :)

[Crown & Shield]

Originally Posted by QuelleHeureEstIl

Participated (online) at the HK Antiquorum auction today. So many lots passed. I have finally not bought what I expected because, it shows that there will be more pressure on prices even for more collectible/vintage pieces.
Keeping my money to find better watches next auction round in 2023. :)

That auction was a disaster. I notice that even models like the 6234 or the 6238 that have been relatively spared by the recent boom/hype did poorly.

[QuelleHeureEstIl]

Originally Posted by Crown & Shield

That auction was a disaster. I notice that even models like the 6234 or the 6238 that have been relatively spared by the recent boom/hype did poorly.

It has to be noted that buyers from Japan had a falling purchasing power due to the yen.

Also, now the rumors which is floating is a de-peging of the HKD.

https://twitter.com/BillAckman/statu...69030798139395

This would shake even more the watch market for sure...

[Crown & Shield]

Originally Posted by QuelleHeureEstIl

It has to be noted that buyers from Japan had a falling purchasing power due to the yen.

Also, now the rumors which is floating is a de-peging of the HKD.

https://twitter.com/BillAckman/statu...69030798139395

This would shake even more the watch market for sure...

Indeed, not the best of times for Hong Kong -or China-.

[huncho]

Originally Posted by QuelleHeureEstIl

It has to be noted that buyers from Japan had a falling purchasing power due to the yen.

Also, now the rumors which is floating is a de-peging of the HKD.

https://twitter.com/BillAckman/statu...69030798139395

This would shake even more the watch market for sure...

Ackman is a clown. any billionaire hedge fund owner who publicly discusses their positions and strategies on twitter is never up to any good

could end up happening, but the fact that he started this rumor by tweeting an opinion piece feels sus. this is the same guy who bought 3 million shares of netflix at ~400 and sold for a 40% loss

[QuelleHeureEstIl]

Originally Posted by huncho

Ackman is a clown. any billionaire hedge fund owner who publicly discusses their positions and strategies on twitter is never up to any good

could end up happening, but the fact that he started this rumor by tweeting an opinion piece feels sus. this is the same guy who bought 3 million shares of netflix at ~400 and sold for a 40% loss

100% he is the epitome of a pump'n'dump guy. For me, he is not a clown but a danger (as he is actively censoring the web).

My poor English skills make my message confusing, sorry. I was of course not promoting a trade. :)

I only wanted to highlight that when such a fresh news is floating in the HK air, with all the layers of issues (threats) already known, it does not encourage locals on discretionary expenses.

[aa909]

Originally Posted by huncho

Ackman is a clown. any billionaire hedge fund owner who publicly discusses their positions and strategies on twitter is never up to any good

could end up happening, but the fact that he started this rumor by tweeting an opinion piece feels sus. this is the same guy who bought 3 million shares of netflix at ~400 and sold for a 40% loss

I wouldn’t call him a clown, but rather a deceitful, manipulative fraud. If he’s out pumping a “story” then you know he’s already taken a position and doing his damn best to scare folks.

[huncho]

Originally Posted by QuelleHeureEstIl

100% he is the epitome of a pump'n'dump guy. For me, he is not a clown but a danger (as he is actively censoring the web).

Actually it was not promoting a trade. :)

I only wanted to highlight that when such a fresh news is floating in the HK air, with all the layers of issues (threats) already known, it does not encourage locals on discretionary expenses.

yeah i know you weren't promoting the tweet or his trade. to your point though, i think by now the whole "just wait for china to open" thing is a meme. clearly whatever's going on there is not temporary and looking like it's only gonna get worse

Originally Posted by aa909

I wouldn’t call him a clown, but rather a deceitful, manipulative fraud. If he’s out pumping a “story” then you know he’s already taken a position and doing his damn best to scare folks.

it's unfortunate that he can be so blatant about it and nothing will be done lol

[QuelleHeureEstIl]

Originally Posted by huncho

clearly whatever's going on there is not temporary and looking like it's only gonna get worse

There is one element that "fascinates" me (because it is not understood of its consequences) is the return of "Common Prosperity" during the 20th Congress of the CCP.

I think this will impact massively the watch (luxury) market... in the long term (like when they hardened the anti-corruption laws). Because even if the economy gets better, owning luxury/status pieces will be an issue. But also, the family, kids or mistress will not be allowed to flex anymore.

There were too many scandals (mainland, HK, abroad), so the CCDI (Central Commission for Discipline Inspection) wants to get ride of them and now they have full endorsement.