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| US DOLLAR hits record low vs. euro - watches to cost more? | Rate Topic |
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| Posted: Mon Mar 17th, 2008 04:11 am |
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1st Post |
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mcwright Admin 
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One dollar now = 1.5905 euro!!! A new record high. It has to effect our watch prices pretty soon. When I was in Russia last summer the euro was 1.41 to the dollar. And, before that it was 1.38 or so.
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| Posted: Mon Mar 17th, 2008 04:47 am |
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2nd Post |
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IanM 3T WIS 
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Hey mcwright The USD has taken a tumble because of many things - the main one we hear about over here is the refinancing schemes for doubtful loans, and dodgy lending practices that have sent some of the big banks to the wall. Financial markets hate instability, and they desert the sector like drowning rats. Anythin that could weaken the USD sure has lately. The flow-on effect is that people like me, who use Aussie dollars to buy overseas (cos there's not much of a collector market here - it exists, but it is nowhere near as developed as it is in other countries), have a slightly better time of it. As we speak, the AUD is worth (roughly) 94 cents US. Crazy when you realise that it was worth 64 cents US not so long ago. I am kicking myself that I spent comparatively more than I had to spend on some of my purchases over the last coupla years  . Then again, if it is a grail watch, what else can we WIS's do but continue to save and plan to buy at the best opportunity?I have no inside info, but IMHO the USD has taken a battering, so there is reason to think that it will eventually return to strength. But who knows how much it will recover? Makes me shudder... but remember that if the US market is the bulk of any maker's exports, surely they would not lift prices to the stage that their valuable US sales dwindled cos they put their prices up too far? US demand is too important to these manufacturers to pass on every little rate hike, IMHO. Cheers - IanM 
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| Posted: Mon Mar 17th, 2008 01:05 pm |
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3rd Post |
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Skipdawg 3T WIS 
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Yea it is bad and will likely get worse before a turn around from the looks of the ecominy right now. But yea a multitude of factors have played in on this. :?
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| Posted: Mon Mar 17th, 2008 02:35 pm |
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4th Post |
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abrizz 3T WIS 
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Sorry for you guys... Me, I'm gearing up to go shopping! ;) Basicly 50% off any watchprice if I import a watch, even with customs and taxes. smile8.gif
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| Posted: Mon Mar 17th, 2008 04:09 pm |
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5th Post |
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goldengrr 3T WIS 
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Flip side is that the economy is weak and people are losing jobs (and houses) With less discretionary income, maybe demand softens and there is some opportunity to buy at a lower price point in the lightly used market
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| Posted: Mon Mar 17th, 2008 08:40 pm |
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6th Post |
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IanM 3T WIS
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Hey goldengrr - my apologies to everyone. I didn't mention the flip side, but I know a lot of people out there are hurting badly. I meant no disrespect. Yes, a weak internal economy and high domestic housing loan interest rates mean that many people lose their houses. Our Australian economy is a bit perverse, but similar things are happening. Australia (well, specifically Western Australia) has had house prices more than double in the last 2 years, and rents have almost trebled. Sub-contractors are impossible to find, and when you find one, they rarely finish a job, because the next one will pay them more. It is at crisis level here for support services. That makes life hard for a lotta people here as well. It is not much good having a strong international currency when it buys you less and less in your own back yard. I am one very lucky man not to be badly affected by all the negative - that doesn't make me better than anyone else, just luckier. And I hope that all my WIS mates ride this through without any hitches, too. Cheers all - IanM
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| Posted: Mon Mar 17th, 2008 08:40 pm |
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7th Post |
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hucky 3T WIS 
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Im not sure about most of you guys, but this whole economy situation has got me freaked out!!!!! I have been so depressed lately from the stock markets, banks, jobs, people etc... I hope it gets better, I know it wont be over night but it is really scary Cheers keep yer heads up
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| Posted: Mon Mar 17th, 2008 08:54 pm |
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8th Post |
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Skipdawg 3T WIS
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But if you own gold and bought it a few years back you are likely some happy campers. I sure wish I had bought in around Oct 2001 at least when I first thought about doing so. Would be sitting nice. Today at one point gold was at $1,009.80 an ounce. :shock:
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| Posted: Mon Mar 17th, 2008 10:26 pm |
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9th Post |
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pacifichrono 3T WIS 
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I buy quite a few watches on eBay, including eBay.de and eBay.uk. The prices in US$ have risen a lot and I basically can't afford to buy internationally anymore. I'm also paying more for U.S. vintage watches because foreigners can bid them up with "cheap" $. I'm sitting on the sidelines now more than I want to be. coyote2.gif
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| Posted: Mon Mar 17th, 2008 11:38 pm |
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10th Post |
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KenC Admin 
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What goes around, comes around...currency fluctuates like crazy and it is just a matter of time before the balance gets back to where it was.
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| Posted: Tue Mar 18th, 2008 04:51 am |
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11th Post |
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mcwright Admin
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IanM wrote: Hey goldengrr - my apologies to everyone. I didn't mention the flip side, but I know a lot of people out there are hurting badly. I meant no disrespect. Yes, a weak internal economy and high domestic housing loan interest rates mean that many people lose their houses. Our Australian economy is a bit perverse, but similar things are happening. Australia (well, specifically Western Australia) has had house prices more than double in the last 2 years, and rents have almost trebled. Sub-contractors are impossible to find, and when you find one, they rarely finish a job, because the next one will pay them more. It is at crisis level here for support services. That makes life hard for a lotta people here as well. It is not much good having a strong international currency when it buys you less and less in your own back yard. I am one very lucky man not to be badly affected by all the negative - that doesn't make me better than anyone else, just luckier. And I hope that all my WIS mates ride this through without any hitches, too. I understood where you were coming from in your previous post. No disrespect taken here. If the exchange is in your favor, you gotta take advantage of it. :D
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| Posted: Tue Mar 18th, 2008 07:35 am |
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12th Post |
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Paxman 3T WIS 
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hucky wrote: Im not sure about most of you guys, but this whole economy situation has got me freaked out!!!!! Stop yer' worrying, Hucky. KC is right. We'll reach equilibrium again soon enough... I's actually kind of embarrassing...
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