Published in International Herald Tribune/ThaiDay June 2006
TIMELESS LUXURY - Tempus Fugit
When it comes to watches, the second time
around is often better than the first time.
For many, buying a used car, home or even an electric appliance is a common transaction. But when it comes to luxury items, the general assumption is that the brand new is the best. For aficionados in the know, however this couldn't be further from the truth, with a growing number of people setting their sights on used or pre-owned luxury wrist watches.
In our helter-skelter world on innovation and rapid change, more and more discerning customers want to own a timepiece that represents something more traditional and has lasting value.
"Some people buy them as an investment", says Somsak Naranong, owner of three Swiss hand made Frank Muller “Master of Complication” chronographs, "but other people simply want to own a piece of history, something that lasts and has meaning".
For some, movie memories come with the watches for example when they see a Rolex Submariner, which Dustin Hoffman traded for a cab fare in the Hollywood thriller Marathon Man. Maybe it's Cindy Crawford showing off an Omega Constellation Quadra on the pages of a glossy international lifestyle magazine. Or Bruce Willis wearing a TAG Heuer in the action blockbuster Die Hard 2 directed by Renny Harlin.
Surprisingly, these vintage time pieces are not that hard to find - and we're not talking about the fakes, the "replicas" that can be found on countless Bangkok and Pattaya street stalls. Right here in the city there's a second hand luxury watch shop that can hold its own against the best shops in Britain, France and the US.
It's called Leng Narikaa (Narikaa means "watch" in Thai), and its housed in a non-descript two story shop house near Khao San Road, in Banglampoo district.
Leng narikaa is home to a vast array of pre-owned, internationally recognized brands such as Chopard, Cartier, Breitling, IWC, Omega, Longines, Patek Philippe, Panerai, TAG Heuer and, of course, the leader of the pack, Rolex of Geneva - and most for less than half of their original purchasing price.
" Many hais buy second watches like Rolex because they are cheaper than buying them new,: says Kasemsit Pathomsak, a Bangkok real estate and hotel owner. "But other purchase them for their investment value. Fine watches, especially mechanical, complicated watches always appreciate in value".
The leng Watch Group (LWG), a family owned Sin-Thai company, was founded in 1976 by Sittichai Leng. Their Leng Narikaa showroom and service center area small is startlingly bright with elegant teak wood floors.
It's almost like entering a golden palace. No music, just precious metals and alloys: white, pink, yellow, and rose gold and there's titanium, platinum and polished stainless steel. Glittering gems and diamonds embossed on solid watch cases sparkle. Display cabinets are filled with row after row of glimmering shiny Rolex wristwatches. Security is provided armed, fit and stern looking uniformed guard. Close circuit TV cameras cover the showroom.
If you're interested in the golden age of Swiss luxury watch making or horology try an Audemars Piquet. Founded in 1875 by two Swiss engineers, Jules Louis Audermars and Edward August Piquet. The watch connoisseurs call it "AP" for short. The brand is known for their complicated calendar, repeat mechanisms and chronographs. Price range 600,000 baht up.
"The best selling pieces here," says Namkaang, Leng Narikaa shop manager, "are still the solid gold Rolexes and the two-tone or 'half-gold' models. “Asians still like Rolex” “Rolex and Mercedes Benz,” adds Namkaang.
Rolexes comprise 80 percent of the displayed watches. But the shop also carries the great models that were linked to war and sport and are still in production today - the classic square Cartier Tank originally from 1917, the legendary Omega Speedmaster, the over sized Italian Navy divers watch Pamerai Luminor, TAG Heur Carrera, named after La Carrera Panamerica, the Panamerica road-race of the 50s. IWC (International Watch Company) World War II big pilot watch "Fliegerchronograph" and, of course, Rolex Submariner, the iconic "James Bond Rolex" robust, mechanical and still ticking.
Many of Leng Narika's watches are as "good as new" such as the entry level steel Rolex Steel Oyster Datejust at 91,000 baht with a 12 month warranty. And in case you want to trade your Steel Oyster in for a solid yellow gold Oyster Datejust, Leng will trade your steel Rolex for 90 percent of the purchased value and you hand over another 220,000 baht and you're the owner of solid golden Rolex, the ultimate piece for the ethnic Chinese taokay - boss. The next step on the ladder is the diamond encrusted gold Rolex, a cool half a million baht.
Business is good. Recently Leng opened its flagship store on Petchaburi road next to Pantip Plaza computer center. This elegant second-hand haute horology showroom-cum-boutique stands up to any of the Gaysorn or Siam Paragon high-end watch boutiques. And service perhaps less arrogant.
Some international and local movie stars are also customers. It has been rumored that Nicholas Cage was seen purchasing a vintage Vacheron Constantin Tourbillion while Thai soap opera stars Marsha Wattanapanich and Sam Yurarnan Pamornmontri are regular Leng customers.
And while you won't find any fakes here, when it comes to payment, Leng takes the same approach as its street-based counterparts. "We don't accept credit cards. Cash only and trade-in", says Namkaang ".
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