Has any Omega Snoopy deposit been returned?

[Fleetlord]

Originally Posted by Trog

If this indeed is an Omega marketing strategy, I don't believe it's going to work out as well as they hoped.

Agreed. They had no idea how to effectively limit distribution.

They took way too many deposits / orders from first time or low spend customers.

Part of an effective limited distribution strategy is saying “NO”, especially to those with low to no spending history.

[offrdmania]

I am just reading this, what a cluster

[gnuyork]

Originally Posted by Fleetlord

Agreed. They had no idea how to effectively limit distribution.

They took way too many deposits / orders from first time or low spend customers.

Part of an effective limited distribution strategy is saying “NO”, especially to those with low to no spending history.

What does first time or low spending have to do with Omega, just curious? You mention this so often with Rolex...

[gregouille]

As I already mentioned it in another thread, my deposit (and 9 others) was refunded by my AD in Paris.
Sad story...

[Ringhio]

Originally Posted by gregouille

As I already mentioned it in another thread, my deposit (and 9 others) was refunded by my AD in Paris.
Sad story...

Many ADs were over optimistic in accepting deposits.
Other were more cautions, and didn’t take any.
I offered the full price as deposit to my AD when Omega opened the lists in September, but they didn’t wanna take it. They said that there was no chance at that time they could hypothesize an allocation for me.

[ratty]

By the sound of things, some ADs and lots of potential customers were unrealistic about their chances of getting one of these watch’s.

[szabo_martin]

I think its more that dealers are getting greased and selling to their grey pals to be honest. This seems to be the new norm for luxury products. Same crap in handbags and cars.

[greengold]

And to think people on the omega forum think this will come down to msrp lol

[C0d]

Originally Posted by greengold

And to think people on the omega forum think this will come down to msrp lol

I am pretty sure that won't happen.

Some people think that will happen with 321 Ed White which makes me laugh even harder as that's a watch being produced in even smaller numbers.

[LDesp]

Originally Posted by LDesp

I am currently on the list at my local Authorized Dealer, so not an Omega Boutique. I made my reservation with the owner of the AD directly.

The owner told me that Omega had guaranteed him 20 pieces in total, but that the timeline was unknown and that he therefore could not commit to a delivery date towards me either (which is understandable, obviously). Additionally, he specifically stressed that he would deliver the watches on a 'first come, first serve' basis, and that they do no play any 'preferred client' games. If I placed a deposit of 10% I would be 7th on the list. I decided to place my deposit the same day and was confirmed my place in writing.

Currently, I'm very sceptical about receiving the watch in the forseeable future, particularly given the fact that I am dealing with an AD and not an OB. I am going to contact the AD and find out whether he can give any more info (though I'm not very optimistic). Depending on the feedback I get, I may or may not decide to request a refund of my deposit.

Originally Posted by greengold

20 pieces!?

I contacted the AD to see if he could give me more information and had a lengthy and open conversation. He re-iterated that 20 pieces in total had been confirmed to him by Omega and that there is no indication to believe they would not eventually be delivered. He added that they have never not received what they were allocated, which is why they have accepted 20 deposits. The current information he had was that the first pieces would be delivered in Q1. He expects patience to be required, but it should be rewarded eventually.

Interestingly, it appears that the situation with the Calibre 321 'Ed White' is even more difficult. They have yet to receive the first piece one year after release, but still Omega has not indicated that the allocated pieces would not come.

With regard to the Omega Boutiques vs. the Authorized Dealers, ADs are not particularly at a disadvantage here since there is simply no OB in our market. Nevertheless, he did concede that ADs would probably be at a slight disadvantage if there were an OB. Even then, he mentioned that large ADs are still important to Omega so they would not be left out in the cold.

I guess time will tell. My deposit is staying put and I really hope to receive one eventually.

[Fleetlord]

Originally Posted by gnuyork

What does first time or low spending have to do with Omega, just curious? You mention this so often with Rolex...

No spend or low spend individuals don’t have a track record to show they will spend MORE and continually spend.

When supplies are limited, dealers/ boutiques need to manage that inventory to make sure the reoccurring buyers get the product...so they keep buying. New business acquisition takes a back seat.

Selling it to an unknown customer is a potential wast of resources as that individual may never buy again. Then there are less watches and strong buyers will get peeved and move on because they can’t get what they want.

That could be a big $$$$$ loss.

[rick101]

Originally Posted by C0d

I am pretty sure that won't happen.

Some people think that will happen with 321 Ed White which makes me laugh even harder as that's a watch being produced in even smaller numbers.

Imo people who say that are the ones who didn’t get on it quick and now living in regret

[yonexsp]

There is an Ed White on Chrono24 for $19,995, $5k premium over MSRP, Not a massive amount, sizable, but nowhere near GMT Pepsi or Daytona markups

[sgrossma]

I am a big limited edition collector and I do believe that the 321 one will absolutely come down to MSRP or very close. Yes, they will be making less than 2000 a year, but that is open-ended. The price tag is also very high for what it is. The new double sapphire Speedmaster looks just as nice for half the price. The market for the steel 321 is much more limited and will eventually be satisfied IMO. There were already a few I saw for around $17k ask. Just my opinion.

[ganiccus]

Originally Posted by sgrossma

I am a big limited edition collector and I do believe that the 321 one will absolutely come down to MSRP or very close. Yes, they will be making less than 2000 a year, but that is open-ended. The price tag is also very high for what it is. The new double sapphire Speedmaster looks just as nice for half the price. The market for the steel 321 is much more limited and will eventually be satisfied IMO. There were already a few I saw for around $17k ask. Just my opinion.

yup, that 321 is mostly attractive to the die hard speedmaster collectors, it won't get the mass appeal of the snoopy and the 'investment' factor genereated by the previous generation. It's a nice watch, don't get me wrong, but the movement looks kinda roughly finished, from what i have seen from a video made by LWC. I know Omega tried to stay true to the original design but it doesn't really feel like it's worth its price tag, at least from the caseback.

[sgrossma]

Originally Posted by ganiccus

yup, that 321 is mostly attractive to the die hard speedmaster collectors, it won't get the mass appeal of the snoopy and the 'investment' factor genereated by the previous generation. It's a nice watch, don't get me wrong, but the movement looks kinda roughly finished, from what i have seen from a video made by LWC. I know Omega tried to stay true to the original design but it doesn't really feel like it's worth its price tag, at least from the caseback.

Don't get me wrong - The 321 is attractive to me and I DO want one. I just still can't wrap my head around the price, even a year later - at least in comparison to other Omegas. In comparison to other brands that is a different story.

[yonexsp]

Is the consensus that only VIP's and grey dealers will now get the Snoopy? Those who out deposits down, told they were on the list are in reality not going to see a watch within the next 2 years?

[Ringhio]

Originally Posted by yonexsp

Is the consensus that only VIP's and grey dealers will now get the Snoopy? Those who out deposits down, told they were on the list are in reality not going to see a watch within the next 2 years?

Not true. Yes, the first watches are delivered to VIP, but there are also "normal" clients with history that are well positioned and will receive their Snoopy in 2021.
I know a couple of them, got their watches already, their are good OB clients, but they are definitely not spending 100k per year in Omegas.

[mmaggi]

Originally Posted by Ringhio

Not true. Yes, the first watches are delivered to VIP, but there are also "normal" clients with history that are well positioned and will receive their Snoopy in 2021.
I know a couple of them, got their watches already, their are good OB clients, but they are definitely not spending 100k per year in Omegas.

It's easy to let the pessimism get the better of some.

As I've said many times: We just don't know how many Snoopy's will be made & delivered to specific OBs. AND we really don't know the demand. We just don't.

Call me delusional, but I believe many of us here (if not all) will have the opportunity to purchase one at MSRP from an Omega Boutique if not in 2021, probably in 2022 or 2023.

Again... just my humble opinion.

[Sandpit]

Originally Posted by Fleetlord

Then there are less watches and strong buyers will get peeved and move on because they can’t get what they want.

That could be a big $$$$$ loss.

Ah yes, the famous 'Rolex Method' where even if you do spend big there's no guarantees you'll get what you want.

[greengold]

Originally Posted by mmaggi

It's easy to let the pessimism get the better of some.

As I've said many times: We just don't know how many Snoopy's will be made & delivered to specific OBs. AND we really don't know the demand. We just don't.

Call me delusional, but I believe many of us here (if not all) will have the opportunity to purchase one at MSRP from an Omega Boutique if not in 2021, probably in 2022 or 2023.

Again... just my humble opinion.

I don't agree we don't know the demand..we do and it's ridiculous. Agree we don't know how many made

[mmaggi]

Originally Posted by greengold

I don't agree we don't know the demand..we do and it's ridiculous. Agree we don't know how many made

Knowing the demand means we have a #. Is the demand 5,000? 10,000? 20,000? Is it 16,231?

We do NOT know the demand.

[CEG]

Originally Posted by ratty

Was that at a Goldsmiths shop?

No, independent AD

[Ringhio]

Originally Posted by mmaggi

Knowing the demand means we have a #. Is the demand 5,000? 10,000? 20,000? Is it 16,231?

We do NOT know the demand.

It's way above than the current offer. That is what matters.

Do you know the exact demand (5000, 10000, 20000) of 5711?
Do you know the exact demand (5000, 10000, 20000) of LV?
Do you know the exact demand (5000, 10000, 20000) of steel Daytona?

[rick101]

Originally Posted by mmaggi

Knowing the demand means we have a #. Is the demand 5,000? 10,000? 20,000? Is it 16,231?

We do NOT know the demand.

It’s already over 16231 and given we know they won’t make 16231 so we do KNOW demand won’t be met

[PPcollector]

May not get mine until 2024?!? This was relayed to me after dropping by the Omega Boutique in the US. I placed and paid in FULL for the watch last September. Do not have a buy history with Omega so the OB told me that they do not anticipate delivering until 2024 at the earliest!! This is beyond ridiculous that they keep the $10k and have customers come back in 3-4 years to pick up the watch. OB told me they accepted and have around 98 ppl(at this OB location) on the PAID in FULL list and only delivered 20 watches for 2021. They only get allocation direct from Omega so since I don’t have a purchase history I am pretty much one of the very last deliveries…

[ratty]

Originally Posted by CEG

No, I put down 50% here in the UK..

So, any sign of it yet?

[Rollieo]

Originally Posted by PPcollector

May not get mine until 2024?!? This was relayed to me after dropping by the Omega Boutique in the US. I placed and paid in FULL for the watch last September. Do not have a buy history with Omega so the OB told me that they do not anticipate delivering until 2024 at the earliest!! This is beyond ridiculous that they keep the $10k and have customers come back in 3-4 years to pick up the watch. OB told me they accepted and have around 98 ppl(at this OB location) on the PAID in FULL list and only delivered 20 watches for 2021. They only get allocation direct from Omega so since I don’t have a purchase history I am pretty much one of the very last deliveries…

Wow that is crazy. What parts of the US are you in?

[PPcollector]

Originally Posted by Rollieo

Wow that is crazy. What parts of the US are you in?

East coast…can’t imagine any better anywhere else in the US

[Ringhio]

Originally Posted by PPcollector

May not get mine until 2024?!? This was relayed to me after dropping by the Omega Boutique in the US. I placed and paid in FULL for the watch last September. Do not have a buy history with Omega so the OB told me that they do not anticipate delivering until 2024 at the earliest!! This is beyond ridiculous that they keep the $10k and have customers come back in 3-4 years to pick up the watch. OB told me they accepted and have around 98 ppl(at this OB location) on the PAID in FULL list and only delivered 20 watches for 2021. They only get allocation direct from Omega so since I don’t have a purchase history I am pretty much one of the very last deliveries…

I heard that they should have a slightly higher rate of allocation during the next months and in 2022.
The feeling is that the rate of delivery will get a bit better and then decline going toward 2023-2024.
The expectation is roughly 2 -3 deliveries per month.

It's annoying, I agree.
I guess if it becomes too long we could ask for the return of the money.
But, I would like to know how many customers will do that knowing that they have a super hot Snoopy guaranteed.