Omega...why so expensive? (Question)

[StuO]

He may consider it expensive relative to what they were priced at in the past. My wife bought my Seamaster for my 50th birthday back in '97 for $1800, which I thought was very reasonable. The same model today (coaxial - not Bond) lists for around $4500. More than double in 15 years? Maybe I'm just stuck in the past, or I don't understand the effects of the changing exchange rate. I'm just glad I got mine when I did.

Stu

[AnthonyPerera]

I carry a Glock 23 to insure my watch...but who do you use for your insurance on your Omega?

Haha I wish I could carry that around

I'd think that it's probably a good idea to figure this out before you buy the watch?

Hehe, as I was saying it really was just brand ownership that was the driving factor for my purchase. Ever since Goldeneye, seeing my peers covet and then buy Omegas, it's just always been that holy grail. Definitley not having regrets now though I would buy it all over again!

Of course "expensive" would be relative to the person. It is for me too, at least.

Yep, so true, I mean there are brands that make Rolexes look cheap. Coming from my background which is moderately well off I still think 3K is seen as extremely, extremely expensive for a watch. I think my family think I'm nuts for buying it!

Thanks for the answers though guys.

[tigerpac]

For the same reason a BMW is many times the cost of a Kia. They both essentially do the same thing, but you pay for the differences under the hood and the aesthetics.

[Nebuchadnezzar]

Something is only worth what people are willing to pay. They are expensive because people perceive value in what they are offering at that price point.

Omega makes a great watch, they have done several things in the past few years to try to move up market and demand higher prices. They are not significantly improving their products but asking more for them. Seems to be working, more power to them. To me, they are not worth what they are currently selling for so I spend my money elsewhere.

[Kungfucowboy]

1. Marketing, the advertising budget that gets the olympics sponsorship, pays James Bond to say o-mee-ga, etc. has to come from somewhere.

2.Innovations, the 8500 and 9300 were developed specifically for omega, the rights to the co-axial system, etc. cost a lot more in development costs than a basic ETA 2824 developed around 40 years ago before swatch even bought ETA.

3. Finishing and Superior parts. If you look closely at your omega and your tissot you will find a difference in finishing levels, the brushing and polishing will be nicer, the movement will have embellishments all of this will be there even in places not normally visible. the links on the bracelt will fit together better real crocodile stap vs embosed leather, etc. also The movements are more exclusive and have been through COSC certification.

Some people find these things to be worth the extra cost others don't. The nice thing about watches is there are watches for all budgets, styles and tastes ranging in cost from a few dollars to a couple million dollars. Finding the ones that you enjoy and appreciate is half the fun.

[spikeyadrian]

Because they re-invest all their profits into their service centres!

[Perseus]

I carry a Glock 23 to insure my watch...but who do you use for your insurance on your Omega?

I'm a HK man myself

I'd think that it's probably a good idea to figure this out before you buy the watch?

Great point ASRSPR.

Questioning the price is really a question of value isn't it? Do you feel like a product or service is worth price.

My Planet Ocean is the most expensive watch I've purchased and it's very clear to me that the quality is heads and tails above anything else I've owned. I'm thrilled with what I received for the money I spent, but at the end of the day all it does it tell time like my $90 G-Shock. If you don't feel Omega is worth the premium you paid over your Tissot I would sell that bad boy.

At the end of the day value is somewhat subjective and either you feel the product is worth the cost and you buy it, or you don't. Omega or any other manufacturer are not going to change their prices unless people stop buying the products.

[M4tt]

The simple answer:

Veblen good - Wikipedia, the free encyclopedia

There is a complex answer within the simple answer though...

[AlbertoM]

...(but not the fear I have when I walk down the street!)...

While I am sure that there are robbers out there who indeed will take all your jewelry including watches, I think that they are few that from across the street can say "Look! Dude had a an Omega Seamaster Planet Ocean 45.5mm 222.60.46.20.01.001 in 18K rose gold!".

Interestingly enough, there are gangs that can do exactly that for Rolex, including identifying fakes at a glance. There was one that operated in South Florida called appropriately enough, "The Rolex Gang" in the late '80's and one recently in South Africa. Fortunately we haven't heard of the "Constellation Gang" or the "Planet Ocean Posse". Although the "Ploprof 1200" would make a good band....

And yes, I am in law enforcement.....

[Nishant]

Brand Name .. Heritage .. Case Quality .. Case Finishing .. Dial Details .. Quality of the Movement .. The finishing on the movement .. and the length of a factory warranty .. Resale value

Some factors that play a role into Omega what it is ..
Certainly the best value for your money Swiss watch under 5000 bucks .. IMO