Omega sponsors a big international watch auction and then bids up watches to record prices, ostensibly to make sure rare platinum time pieces were kept in the Omega family, according to the Wall Street Journal, How Top Watchmakers Intervene in Auctions:
Through the auctions, Swiss watchmakers have found a solution to a challenge shared by makers of luxury products from jewelry to fashion: getting their wares perceived as things of extraordinary value, worth an out-of-the-ordinary price. When an Omega watch can be sold decades later for more than its original price, shoppers for new ones will be readier to pay up. “If you can get a really good auction price, it gives the illusion that this might be a good buy,” says Al Armstrong, a watch and jewelry retailer in Hartford, Conn.
How ethical is this, even if the purchases are real? If Omega didn’t bid on the Platinum Constellation Grand Luxe up to $351,000, would it have even come close?
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1 Comment » Posted on October 11th, 2007 by Abraham Harrison
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This morning I read two important posts written by Greg Sterling on his blog Screenwerk. One is Nielsen - WebVisible Data on Local Search. The other is New Findings on SMBs and User Reviews. It left me more and more convinced how local businesses must view the internet as a marketing and business development source, and as a customer relations and reputation management tool.
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No Comments » Posted on October 11th, 2007 by Jonathan Trenn
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