Complications

Omega Seamaster NZL-32 Chrono - A Regular at Regattas

Omega has long been one of the premier providers of timepieces for sailors and Omega watches are a runaway favorite of many experienced yacht racers. 

If you're serious about racing a blow-boat, it's a good bet that you'll want a watch that can provide a visualization for the customary countdown that precedes the start of a race - the Omega Seamaster NZL-32 fills the bill with a spray of 5 globes on the port side of the dial that change colors as the beginning of the race nears. 

The NZL-32 is also a fully functional chronograph.  The pushers that control the chronograph functions are arranged on the left side of the case and are a bit easier to control than the standard fare as they can be activated by thumb in a manner more customary to a stop watch.  Inside the Omega NZL-32 is the Omega Caliber 3602 C movement - it's based on the Omega 1120 and modified with the Dubois Depraz 2027 module. 

The stainless steel case of the NZL-32 is 42mm in diameter and on the thick side at 15.6mm.  It's well constructed to withstand all of the stresses associated with life on the open sea. 

With a stainless steel bracelet, the MSRP of the Omega NZL-32 Chronograph is $4,400 US.

Grey Market Watches - Masterfully Veiled Price Discrimination!

I've thought a lot about the real dynamics of the so-called 'grey market' for watches and the degree to which the manufacturers have an interest in keeping it alive.   

Going back to some of the things that I learned about in B school; it seems like the luxury watch market would make the perfect case study for the clandestine and well executed practice of price discrimination. 

As the theory goes, it's advantageous to be able to sell the same product to various segments of the market at the highest price that they are willing to pay for it.  It's best, of course, if you are interested in preserving the integrity of the brand; to do this by convincing those who are willing to pay the higher price that they are getting something that's somehow different from those who are paying the lowest price.  Most people won't pay more simply because they can, they need to perceive some additional value in parting with the extra money. 

Certainly much is made about the importance of only buying from an 'Authorized Dealer' and there's a large segment of watch collectors who would never buy a new watch anywhere else.  A great deal of time and money has been spent to convince us that deviating from the officially sanctioned route for acquiring a new watch is fraught with all sorts of peril:  Will the watch be authentic?  Will the warranty be honored if there's a problem?  Is it stolen?  Is it really new?  Will it even arrive on your doorstep after you share you credit card details with a stranger who is a thousand miles away?   

To keep the dream alive and maximize the drama (and profit margin), there's the sometimes comical dog and pony show that you'll encounter when you venture down the discount path with your 'Authorized Dealer' (AD).  You know the one.... where they'll lose the whole line and the multi-million dollar inventory will vanish overnight if the manufacturer finds out that they gave even their best customer a 20% discount.  It's important for the maximization of the strategy to keep the premium buyer paying the premium price at the authorized shop so that the bargain hunter still feels like he or she is getting a deal when the Grey Market seller offers him or her a 25 or 30% savings.

It seems to me like that real charm of the arrangement in the watch business, at least from the perspective of the manufacturer, is that the dealers (both authorized and unauthorized) take care of all of the dirty work and absorb most of the grief.   

By requiring the Authorized Dealer to take on more watches than they can feasibly sell, the manufacturer all but insures the creation of an arrangement between the AD and a grey market vendor.  Obviously, while this can't be officially sanctioned or suggested, the manufacturer absolutely needs this 'off the record' distribution channel to move the most product possible.  While they remain unrecognized and sometimes even maligned, grey market 'dealers' do sell a lot of watches.   

In 'encouraging' the AD to hold the line on price with clients who see the value in the AD relationship and will pay a premium for it, the manufacturer sets up the value proposition that the grey market dealer needs to convince the clients that value the best price above all else that they are, in fact, getting a deal!

      

   

Rolex Sea-Dweller vs. Omega Seamaster

Sometimes it's fun to pit two classics against each other and try to figure out which one comes out on top.  For this comparison, I'll look at the Rolex Sea-Dweller and the Omega Seamaster; two incredibly popular and robust watches that do exceptionally well as both 'desk divers' and while battling a few atmospheres of pressure in the underwater world. 

Before we get started, I should say that I've done a lot of scuba diving and truthfully neither of these watches would be my first choice for diving (currently I dive with a Seiko 'Monster'... more about that some other time) but both are absolutely competent and capable in that realm.

The case of both of these watches is substantial and rugged.  The Rolex is 14mm thick and 39mm at the bezel.  It feel much more substantial than it's 'little brother', the Submariner on your wrist, weighs more, and takes a lot more abuse too.  The Omega is 11mm thick and 37mm across the bezel - slightly smaller than the Sea-Dweller so it slips underneath a shirt cuff a little more easily and doesn't have the nasty habit of getting 'stuck' in doors that the Rolex does. 

Both the Rolex and the Omega use crowns that are substantial, easy-to-grip, and that incorporate very good waterproofing measures.  The proprietary Rolex system is called the ' Triplock ' and has become somewhat of a legend in the watch world.  The Omega system is equally well designed and both make it easy to screw down the crown after setting/winding and provide a water-tight seal.

Both the Sea-dweller and Seamaster have uni-directional positive click bezels that are easy to read underwater.  This is extremely important if you are actually diving with your watch since a bezel that turns in both directions could easily brush against something and suddenly indicate that your bottom time was much less than actual - a real problem when you are trying to avoid decompression stops and don't have a penchant for the 'bends'.  I find that the bezel of the Omega is the easier of the two to turn with wetsuit gloves.

The bracelet on the Rolex is the infamous Rolex Oyster Bracelet.  It can take a silly amount of abuse and can be easily adjusted.  I don't think it's the most comfortable watch bracelet ever created.  The edges of the links are a little on the 'sharp' side especially when you cock your wrist to open a door or swing a golf club (not recommended of course... but it happens!).  The Omega bracelet is more comfortable to me.  The locking mechanism on the Sea-Dweller clasp is a flip over mechanism while the Seamaster uses locking 'buttons' on the sides of the clasp to provide extra security.  Both are very effective.  I think the Omega clasp might be a little easier to deal with since it's sometimes tough to get a fingernail under the Rolex's safety latch... but this is definitely nitpicking. 

When it comes to price, the Rolex is definitely more expensive.  It's also much more likely that you'll get a nice discount on the Seamaster than it is that you'll save anything on the Sea-Dweller's MSRP.  If you decide you need a change of pace and sell the -dweller, you'll most likely get very close to what you paid for it (maybe even more!).  You'd have to buy the Omega very 'right' to avoid a substantial loss when selling it. 

It's impossible to escape the status that wearing a Rolex... any Rolex... conveys.  Even people who don't know a thing about watches, recognize a Rolex watch as a trapping of a successful life.  Unfortunately with replica watches outselling their legitimate cousins by a factor of almost 10, the cache of wearing a Rolex might be suspect in some circles.  Among those knowledgeable about watches, I think it's safe to say that both of these watches enjoy a pretty equal footing and a very respectable reputation. 

If there's a budget to consider, buy the Seamaster and don't look back... it's a great watch that you'll enjoy wearing.  If you're still riding high from some masterful IPO, opt for the Seadweller... it's a watch that you should have in your collection and one that you'll find yourself wearing a lot.

Still can't decide?  Buy both!  Life is short.