Posts Tagged ‘ Hong Kong ’

From Vietnam to Boca Raton: Rolex GMT Repair, A Testament of Time.

Recently a client brought in his Rolex GMT to be serviced by us.  This gentleman had an interesting story to tell about his watch.  This gentleman was a Major Gunnery Sargent in the US Military and served during the Vietnam War.  Why is this significant you may ask?  The interesting part is that this man bought his watch in Hong Kong while he was on shore leave.  He wore this watch while serving during the war.  The icing on the cake is that he had a scrap book with him that contained the original documents that came with his watch, his original warranty card and a number of pictures of him wearing it while in uniform.  I have included some of these pictures so that you can look as it is truly a monument to a historical period of time.  Today this watch with these documents would be worth considerably more than without them.  He was thrilled with our service and expertise in this manor and was really appreciative of the fact that we took these details into consideration to make his repair experience a pleasure. If you have any heirloom quality timepieces that need service our state of the art watch repair shop is able to handle all of your needs.  See you soon.

Richard Resnik

Your Jewelry Guru

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The Decline Of The Euro and Its Effects On The Jewelry Business

The jewelry industry as a whole is effected by currency in a big way. Most wholesale jewelry business is done overseas between two or more countries. When the Euro was in the 1.50’s and higher, Europeans couldn’t buy enough of our preowned luxury watches and diamonds. Now that the Euro is in the mid 1.20’s…..not so much. What will happen if things change and the Euro is less valuable than a dollar?

My guess, we will be buying from them, but what will we do with it? For the last while it has been nice, we sold some watches inside the U.S.A., sold some watches in Europe and the Far East. Lately for the last few weeks we have shipped zero Rolex watches to Europe. Its all down to the Euro.

The European’s have no idea where the currency will go and don’t want to get stuck with product. My belief is that there is not enough demand in the U.S.A to buy the product from the Europeans if that is what happens here. Buyers in Hong Kong and China may be able to buy it all.

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Trying To Understand Rolex Policies

The fact that I find it necessary to begin this post by saying that Raymond Lee Jewelers is not affiliated with Rolex U.S.A. should tell you something. 4 years ago our company decided to add jewelry trade shows outside the country to our current show schedule. What better place to start than Hong Kong. Because of our many contacts, we sort of understood what was hot at the time in that market. They want modern, fancy Rolex watches with documentation, as well as vintage sport models. With 6 months to go until our first exciting new venture into Hong Kong, we started buying. Our buyers were buying everything in site. Anything interesting, we bought. Raymond Lee Jewelers was ready, with tons of new interesting stock. A week before the Hong Kong Jewelry and Watch Show we began doing our paperwork with our Malca Amit customs broker. They saw the 300 Rolex watches on our list of inventory and called hysterical. They told us we couldn’t take our own Rolex watches to Hong Kong and back. Well, the truth is we could take the Rolex watches to Hong Kong. We just couldn’t bring them back again. Hong Kong is a trade free zone, no problem there. How is it possible that we wouldnt be able to take our own watches which we legally purchased and own back into the U.S.A. Rolex U.S.A. has it worked out with U.S. Customs that Rolex watches coming into the country by anyone other than Rolex themselves are considered contraband. Contraband? Thats right, right up there with narcotics. I took it upon myself to contact Rolex’s attorneys to discuss my issue. They told me ” you can get your watches back at our auction of seized property if you try to import them”. Meaning I could bid on my own Rolex watches in an Auction. These Rolex watches that Raymond Lee Jewelers owns, we have receipts of purchase and second-hand purchase forms to prove we legally own them. All of that makes no difference. 4 years later  we have still not found any good legal way to bring these watches back and forth into the country, so we decided not to do it at all. Thats control! We would like you (the readers) input on the subject. Please add to this by commenting. Please share your personal experience with us and others. We do not think Rolex is an awful company by any means. Heck, we love Rolex watches. I have a collection of my own!

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