Edit: We realise some members will be disappointed by the USD20 price increase and we are willing to refund those who wish to leave the project.
Please reply to this thread if you require a refund and the deadline is 7th September, 10am Hong Kong time, after which no more refunds will be entertained. I'm afraid members will have to absorb the PP fees and the whole process may take a month or so. Thanks for looking!!!
Due to unforeseen circumstances, we regret to the price for the ST5 Project has increased from USD160 to USD180 per watch. Apologies are in order, but working with vintage movements created more head-aches than we thought possible.
The increase is due in part to higher than expected costs of movement sourcing as we had quality issues with some of the watches and ended up purchasing 3 different batches. It may not be difficult to find one good watch at a reasonable price, but attempting to source 200+ watches is a different matter altogether. The strong RMB didn't help and we ended up paying around USD40 per movement (USD10 more than we estimated).
Another major problem was the difficulty we experienced with refurbishing. A large number of movements required more work than we anticipated and spare parts were not easy to acquire. These costs accounted for an extra USD10 added to the price.
Sourcing and working with vintage movements comes with hidden dangers, and we thought we had eliminated price creep by adding buffers. All is not lost however, as all our working movements have passed rigorous tests with flying colours and are well within the original ST5 specifications. We would rather pay a little more to have quality watches on our wrists than receive shoddy, poorly serviced watches and hope you all agree.
Thank you for your patience and understanding.