What Swiss Replica Watches Tell Us About Goldman Sachs Bankers

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Show me your watch and I’ll show you what rank you are at Goldman Sachs: a former banker mocks the material hierarchy at the U.S. investment bank.

GS Elevator Gossip is well-known for transporting Goldman Sachs’ secrets gleaned in trips up and down the 44 floors of the investment bank’s Manhattan headquarters.

The mysterious blogger’s identity was revealed two years ago: Elevator is the brainchild of John LeFevre, a former Citigroup syndicated loan banker in Asia who never actually worked at Goldman Sachs.

LeFevre has parlayed a popular Twitter account which portrays Goldman’s bankers in a unfavorable light into a book deal. According to LeFevre, the content is authentic; the book was panned by critics.

Business Insider has published LeFevre’s views about one of the most style-conscious issues on Wall Street: luxury replica watches and how to wear them.

Intern

Getting into Goldman Sachs is incredibly difficult: tends of thousands apply every year for an internship. So if you do make it, you shouldn’t cock it up with the wrong watch. Your choice should show that money isn’t important – because you have it already.

But your watch shouldn’t be ostentatious enough to irritate your older colleagues. A stainless steel replica Rolex Oyster Datejust or an Omega Seemaster.

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Analyst

You’ve passed the obstacle course and got hired on a permanent contract, so get ready for long work days and anxiety-fraught sleepless nights. Your salary isn’t all that either, but you still have to show you belong to Goldman Sachs. The classic entry-level watch is a Rolex Submariner – versatile and conspicuous at the same time.

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Associate

You’re taking client meetings now, so leaving a good impression is even more important. Elevator recommends a Rolex Seadweller or a Blancpain Aqua Lung – neither too pretentious nor too shabby.

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Vice-President

Your payday is finally more like what you would associate with Goldman Sachs. There’s only one watch for this level: a Rolex Daytona. Elevator says there is an unwritten rule against wearing one before reaching the vice-president rank. If you already have a Rolex, go for a Vacherin Constantin Overseas.

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Director

You’re making real money but also coping with serious stress and you have three years to climb to the pinnacle – Managing Director. Wear a Breguet Classique or a Jaeger LeCoultre Master Tourbillon to exude cool confidence.

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Avoid any reference to Patek Philippe: an impatient director was seen with a picture of one tacked to his wrist – he now works for Morgan Stanley.

The IWC Portuguese is also a poor choice: it’s a fake watch associated with losers whose wives cheat on them.

Managing Director

Now is the time to get that Patek Philippe replica if you’ve been dreaming of it, although as the advertisement says, you never really own one, you merely look after it for the next presumably very entitled generation.

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Permissible alternatives: the Nautilus Chronograph for $500 or the Perpetual Calendar for $930.

Partner

You can go toe-toe-toe with Goldman Sachs CEO Lloyd Blankfein, but your flirtation with expensive replica watches is over. All your previous acquisitions have been given away or are sitting in a neglected drawer at home.

To show that you’re still one of the 99 percent despite your millions, wear a $66 Swatch like Blankfein does, or a fitness wearable.

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Even better, don’t wear a watch at all: When you control time, you don’t need to know what time it is, says LeFevre.

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Swiss replica watch exports to UK rise as tourists make most of fall in sterling

— Increase taps into surge of visitors to UK, exploiting what has become the cheapest luxury market in the world, say analysts

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A man looks at expensive watches in a shop window in Bond Street, central London.

Swiss replica watch exports to the UK rose by 13.4% in July as tourists exploited the drop in the value of the pound to snap up luxury goods.

The Federation of the Swiss Replica Watch Industry said watches worth 110.2m Swiss francs (£87m) were exported to the UK last month, the best figures since November 2015.

The figures are the latest sign of a boost for luxury retailers following the EU referendum result, which has pushed down sterling and made British shops more attractive to foreign visitors, with sales of jewellery and watches across the UK growing by more than 16% last month.

Pound against the euro

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The UK is now the cheapest luxury goods market in the world, according to analysts at stockbroker Exane BNP Paribas, which has predicted an uplift for British brands such as Burberry, Mulberry and Stella McCartney, as the stronger euro and dollar against the pound fuel tourist visits.

“Tourist inflows and spend are highly correlated to exchange rates. Continental markets such as France have suffered from relatively higher prices and terror attacks. “The likely consequence is a tourist spend boom in the UK,” said Luca Solca, a luxury goods analyst at Exane BNP Paribas.

The increase in Swiss replica watch exports to the UK compared with July 2015 makes Britain the fastest-growing major market for the sale of brands such as replica Omega, Breitling and Rolex.

Brian Duffy, the chief executive of Aurum, which owns the Goldsmiths, Mappin & Webb and Watches of Switzerland chains, said his outlets had seen an immediate pickup in sales of luxury replica watches (above £500) on the day after the Brexit vote. This was most evident in London and at the group’s airport stores, he said.

In July 2016 Switzerland exported 110.2 million swiss francs worth of watches to the UK

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“It’s very clear there’s a boom going on. We are selling a lot of very high-end pieces where the absolute amount of savings can justify the cost of foreign travel. The savings on a £300 watch can pay for a flight,” he said.

Michael Wainwright, the managing director of Boodles, which sells Patek Philippe replica watches, said the British luxury jeweller had seen good business from Asian and Middle Eastern clients, who usually visit the UK at this time of the year, because the exchange rate had made desired items about 18% cheaper than anywhere else in the eurozone. The pound has fallen by 11% against the euro and dollar since the vote to leave the EU.

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A Breitling replica watch with diamonds. Savings on luxury watches can justify the cost of flights, experts say.

Wainwright said the chain had also recorded a rise in American buyers last month, when Swiss replica watches were as much as 30% cheaper in the UK than in the US.
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“To some extent, it is commodity dealing. Collectors will gravitate to the country offering the lowest price and at the moment that is the UK,” he said.

Jewellery sales were also benefiting from the pound’s decline, although the market was less commoditised, and so differences in design, service and other factors had a bigger role to play than the watch market, where collectors know exactly what they want.

“The weaker pound doesn’t have such an enormous benefit as it does on replica watches, but it will help London, retail and luxury goods,” he said.

Mario Ortelli, a luxury goods analyst at Bernstein, agreed that the UK luxury market was likely to benefit as a whole from the lower value of the pound. “Many tourists will decide to come to the UK, not because they like the weather, but because they think the exchange rate is improving prices,” he said.

But the global market for luxury goods was not likely to benefit overall from strong sales in the UK, he said, as shoppers were merely shifting from one country to another.

However, Ortelli said luxury brands were likely to put up prices to ensure that they protected sales and profits, meaning the boost to the UK may not last. “The benefit will be short term,” he said.

Pound against the dollar

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Jewellers said brands including Patek Philippe and Cartier had already put up prices by between 8% and 10%, although Rolex, Omega and Breitling had yet to change.

Meanwhile, Ryanair said it was carrying 20% more Americans and 10% more Chinese from Europe on shopping trips to the UK this summer, which it attributed to the fall in sterling.

The rise in luxury spending in the UK might help brands with British heritage such as Burberry, which have suffered from falling numbers of Chinese visitors to Europe due to terror fears, and to Hong Kong because of visa changes.

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Cheap Omega Speedmaster Moonwatch ‘CK2998’ Limited Edition Replica Watches Hands-On

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Omega launched a torrent of new models and colors at Baselworld this past March, and among the new Planet Oceans and Moonphase Speedmasters we found the handsome and entirely charming Omega Speedmaster Moonwatch “CK2998” Limited Edition. Sharing the same basic form as the Moonwatch “First Omega replica in Space,” this svelte but sporty chronograph is a nod to the reference CK 2998 Speedmaster that Walter Schirra wore in 1962 during his orbital flight on the MA-8 mission of the Mercury Program. Nestled precariously within his ship, the Sigma 7, Schirra orbited the Earth 6 times and, to the benefit of modern day Omega, did so while wearing an early Speedmaster which he had bought for personal use.

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Though it would be more than two years before NASA would select the Omega Speedmaster as their go-to timepiece, the CK 2998 was indeed the first Omega replica watches in space and has held an important place in both Omega’s history and in the hearts of many a Speedy collector. The new 2016 cheap Omega Speedmaster Moonwatch “CK2998” (Omega’s quotations, not mine) boasts a beautiful blue coloring anchored by a silvery white dial and a 39.7mm steel case. The panda-style dial gives the “CK2998” a distinct look that sits somewhere between the black-dialed original “FOiS” and the Sedna gold model launched last year.

In a departure from the original and the Sedna variants, the Omega Speedmaster Moonwatch “CK2998” has been fitted with a lollipop seconds hand and a lumed tachymeter scale on the bezel. The case back is solid and bears replica Omega’s original Speedmaster Seahorse medallion and the “CK2998” is water resistant to 50 meters. Powered by Speedy-famous calibre 1861, Omega has wisely decided to continue their use of this legacy movement in the vintage inspired “First Omega in Space” models. The 1861 is a manually wound and cam-actuated 12-hour chronograph with a 48-hour power reserve. Given its lineage and connection to early space exploration, the 1861 is a big deal for cheap Omega, and its continued use is not only a nod to their specific past but also to the old-school reality of watch enthusiasm – especially when juxtaposed by the highly technical reality of Omega’s modern movements (think: co-axial, anti-magnetic, and METAS certification).

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Not unlike the movement, the 39.7mm case sizing feels willfully old-school, especially on a table full of 44.25mm Dark Side of The Moons, Moonphase Master Chronometers, and 55mm-wide Ploprofs. Fact is, Omega’s modern line up is, on average, quite large. While the Omega Speedmaster Moonwatch “CK2998” is not amazingly small, its somewhat smaller case size (and steel construction) offers a handsome and appealing Speedmaster option for those not wanting something as large as a DSoTM or something as common as a Speedmaster Pro.

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Limited to 2998 units, you have to assume the uk Omega Speedmaster Moonwatch “CK2998” will sell like hotcakes when they hit retailers later this summer. With a reserved and classic aesthetic, legacy movement, and lovely blue/silver coloring, the Omega Speedmaster Moonwatch “CK2998” is going to check the box for a lot of collectors who love the history of the Speedmaster but want a brand new swiss replica watches that still manages to feel special. Costing US$165, fitted to a matching blue leather strap with beige stitching, the Omega Speedmaster Moonwatch “CK2998” is nothing short of beautiful and was easily my favorite of the Omega novelties at Baselworld 2016.

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