*IMPORTANT* Price increase for ST5 Project
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  1. #1
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    *IMPORTANT* Price increase for ST5 Project

    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.
    Last edited by hked; August 28th, 2013 at 15:50.
    jjolly, Colin63, humanboy and 11 others like this.

  2. #2
    Moderator: F72 and F71 AlbertaTime's Avatar
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    Re: *IMPORTANT* Price increase for ST5 Project

    Speaking for myself, I'm fine with this. Let me know when you need the extra $$$ and how to get it to you. The watch is gonna be worth it.
    MEzz, Oldheritage, Genghis and 2 others like this.
    Curator: Alberta Museum of Chinese Horology in Peace River (AMCH/PR) 中国手表博物馆,皮斯里弗,艾伯塔省; Member: China Horologe Association; Chief Expert: China Watch Overseas Working Committee (CWOWC), a formally instituted CHA Working Committee; Sino-Canadian Horological Cultural Affairs Advisor: Guangzhou Watches and Clocks Association

  3. #3
    Member IRBilldozer's Avatar
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    Re: *IMPORTANT* Price increase for ST5 Project

    This in my opinion should warrant a short window of optional refunds considering how many people are wait listed. I'm sure any spot would be quickly filled and as trivial as $20 may seem it is none the less an increase in cost.


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  5. #4
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    Re: *IMPORTANT* Price increase for ST5 Project

    The slight price increase is more than acceptable to me as long as we are getting good looking and well reconditioned vintage movements.
    hked and myke like this.

  6. #5
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    Re: *IMPORTANT* Price increase for ST5 Project

    I just want to say that I'm OK with the price increase and I am glad that I am able to get one, even at +20USD. I still can't believe someone (Torsten) started buying up ST5's for this project before the project started taking shape. That's pretty bold and crazy if you ask me, but I'm glad he did. And it doesn't surprise me that they ran into a few hidden surprises along the way, with these old movements. It's not like they were buying movements off the shelf, with the ability to return/replace any defective ones. My feelings would probably be a little different if these were new movements. This doesn't even take into account the fact that we got to choose a dial color, pretty awesome if you ask me. Anyhow, just my thoughts. Carry on everyone...
    hked likes this.

  7. #6
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    Re: *IMPORTANT* Price increase for ST5 Project

    I agree that this "little" increase is fully acceptable, due to the kind of project, and i'm very happy for the evolution of the design and how will look the final watch. My little disappointment is just about the strap/buckles issue and how the decision has been made (quickly and without a poll), because i assumed that a part of the final cost had been allocated to a decent leather strap matched with the watch. Anyway, i'll take the occasion to buy aftermarket straps (i hope in the forum help for colour/style suggestions) and learn how to change them.
    Can't wait to have it in my hands, as it'll be my first mechanical watch.
    hked and myke like this.

  8. #7
    Member Djk949's Avatar
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    Re: *IMPORTANT* Price increase for ST5 Project

    Changing straps is the easiest (and possibly the most highly satisfying) watch mod you will ever do!
    hked likes this.

  9. #8
    Member bstag's Avatar
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    Re: *IMPORTANT* Price increase for ST5 Project

    chooo chooo the train keeps moving. I myself can not wait for the destination I have to buy a couple more lunches on the ride but in the long run does it really matter.
    hked likes this.

  10. #9
    Member fatehbajwa's Avatar
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    Re: *IMPORTANT* Price increase for ST5 Project

    No problems, Ed and the team. Looking forward to the watch.
    hked likes this.

  11. #10
    Member Santino's Avatar
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    Re: *IMPORTANT* Price increase for ST5 Project

    No problem for me
    hked likes this.

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