It's Deja Vu All Over Again!

In a move that is, well, a wee bit baffling...

Courtesy of Richemont

Word found its way to the North Shore offices of Henkitime (the Blog Formerly Known as Tempus Fugit), that rather than identify an up and coming talent, the brain trust as Richemont felt it made more sense to recycle a former CEO and put him back in the role again.

And this is a bit curious owing to the battle royale that (not so) quietly played out between the then CEO of IWC and the once-and-future CEO of JLC to win the hearts and minds of the Richemont faithful. Long story short, it appeared to end in a draw with Kerns decamping to the leafy glens of Grenchen, and Mr. Lambert assuming the crown at the group writ large. 

But time is fluid, nothing is forever, and the once-and-future king has returned.

Here's the briefing from Richemont -

Jaeger-LeCoultre is pleased to announce the appointment of Jérôme Lambert, currently Richemont Group Chief Operating Officer, as Maison Chief Executive Officer, effective January 1, 2025.

Jérôme Lambert has had a distinguished career within Richemont, having notably served as Chief Executive Officer of Jaeger-LeCoultre and the Richemont Group.

“It is with profound honour and genuine pleasure that I return to the Grande Maison, the place where I first set foot into the magnificent world of Swiss watchmaking. This opportunity is both a privilege and a homecoming to the craft and heritage that have shaped my career.”

Jérôme will be able to bring to bear his deep knowledge of the watch industry and affinity with the Maison as well as his vast Group experience to maintain its pioneering role in Swiss watchmaking and ensure its long-term success.

The Chamonix

From Elgé -

Courtesy of Elgé

This is a revival of the French brand Elgé. The first model to be offered is the Chamonix -

Courtesy of Elgé

The Elgé Camonix will be available for pre-order (I believe) next Tuesday.

Launch Date: December 3, 2024
Special Launch Price: €860 (price after launch: €960)
Shipping: First batch late January/mid-February, second batch late March/mid-April

Here are the pertinents -

• Movement:
  • France Ébauche – FE AUTO*
  • No Date
  • Accuracy ± 12 s/day
  • Made in France
• Case:
  • 316L stainless steel with polished & brushed surfaces
  • Water resistance 15 ATM / 150m
  • 38mm diameter x 11.6mm thickness x 44mm lug-to-lug
  • Screw-down crown & caseback
• Dial & Hands: Super-LumiNova® “Old Radium” on hands & black lacquered dial
• Glass: Sapphire crystal with inner anti-reflective coating
• Straps:
  • Vegetable-tanned leather
  • Removable “bund” leather plate
  • Available in three color options (natural, brown & black)
• Assembly & Regulation: Regulated and assembled in France
• 3-year warranty

We will be reaching out to the folks at Elgé to see if we can get some more details on the watch and the brand as it plans to move forward.

A Special Opportunity from Hager Watches!

We are living in uncertain times, and with that being said, many of us (myself included) are being cautious with our purchases. So that is why it is exciting to share that Hager Watches is doing a (so far) once in a lifetime Black Friday promotion offering up to 30% off some of the collection. Now Hager has not shared with me which pieces of the collection will be on offer at discounted pricing for this one-off event, but yours truly might avail himself of this little time machine if it is part of the offer -

Courtesy of Hager Watches

This one's a bit special ; )

The case is of stainless steel, measuring 40 mm in diameter. The functions are hours, minutes, seconds and of course GMT. The movement is Swiss.

At any rate, my choices notwithstanding, if a new watch is on your personal itch list, the Hager Black Friday sale might just give you the chance to scratch it.

The BR-05 Skeleton Arctic Blue

From Bell & Ross -

Courtesy of Bell & Ross

This is the latest iteration of the BR-05, and it is a STUNNER! The BR-05 Arctic Blue adheres to the design codes of its older brothers and sisters, but takes the wearer somewhere completely new with the dial.

Courtesy of Bell & Ross

A wonderful depth and feel pull you in. The dial is inspired by frozen landscapes where light meets water and ice.

Courtesy of Bell & Ross

It is available either on a bracelet, or with a white rubber strap (above).

It is priced at $ 8,200 on the bracelet, a bit less on the rubber strap.

This is a boutique edition, so if it is in your wheelhouse, you need to lively yourself up and reach out to Bell & Ross before the ice melts ; )

Here are the pertinents -

• MOVEMENT

  Calibre BR-CAL.322-1. Automatic mechanical movement. 54-hour power reserve

• FUNCTIONS

  Hours, minutes and seconds.

• CASE

  40 mm wide. 10.33 mm thick. Satin-finished and polished steel. Screw-down crown. Crown guard. Sapphire case-back with 360° oscillating weight.

• DIAL

  Skeletonised with frosted texture transparent panel and rhodium-plated movement. Applique indices filled with Super-LumiNova®. Metal skeletonised hour and minute hands filled with white Super-LumiNova®.

• CRYSTAL

  Sapphire with anti-reflective coating.

• WATER-RESISTANCE

  100 metres.

• STRAP

  Satin-finished and polished steel or rubber.

• BUCKLE

  Folding. Satin-finished and polished steel.

The Reality of the Situation - A Christmas Miracle in Watch Town?

Shamelessly borrowed from the World-Wide Infoweb

As we move closer to the holiday season, a few undeniable truths are becoming more and more apparent. First and foremost? Sales in Watch Town suck. There's really no nice way to put it. Lots of exports going out, but as anyone who's been in the game a minute or two will tell you, exports do not equal sales. So as 100s of SKUs are piling up in various warehouses around the world, the problem of too much stock on hand is going hand in hand with supply chain issues. It's an interesting situation that started with the first domino falling - over production. Ironically, this is not a new thing. It seems that the CEOs of Watch Town still prefer their own bath water to to pretty much any other beverage.

Once it became clear that the supply was far exceeding the already weak demand, the same folks who couldn't have their teams build enough soon-to-be grey market watches then slashed or completely canceled their supply orders. Which, in turn, led the suppliers to make many of their workers redundant. This, in turn, put the squeeze on smaller brands that were living in Reality (a more modest, yet stable municipality that is Watch Town adjacent). This, in turn, meant that although they were selling, they could not fulfill the orders that they were receiving. 

And so here we are - counting down for the holidays, and the Grinch is firmly ensconced under the Christmas Tree.

But maybe, just maybe there's a Festivus Miracle waiting!

Just kidding, that's about as likely as an Arnault offspring being replaced by someone who actually has experience...

Happy Holidays!

The Antarctique PURPLE STORM

From Czapek -

Courtesy of Czapek

This is the latest addition to the Antarctique family - the Antarctique Purple Storm.

This is a limited edition of 18 pieces.

Per Czapek:

"The project began when Xavier de Roquemaurel, CEO of Czapek & Cie, discovered the work of an artist collaborating with Metalem who was creating uniquely hand-varnished dials. These dials were so original and distinctive that they did not dare offer them to any of the brands they worked with.

Each dial of the Purple Storm series is unique, and features a mesmerizing violet gradient crafted with precision and artistry. Individually created to capture the mood and depth of a natural storm, each dial evokes a sense of mystery and movement. As light touches the surface, swirling, layered shades of purple are revealed, reminiscent of storm clouds rolling across the sky."

The case measures 40.5 mm in diameter and is of stainless steel. The movement is Czapek's  Caliber SXH5.

The watch is secured by a stainless steel bracelet that utilizes Czapek's "Easy Release" system. It ships with an additional strap (purple alligator, or various rubber variations).

The full ask is 25,000 CHF., and it can be purchased via Czapek's reservation system.

Reheated Leftovers - The Sunk Cost Trap

Yema... a watch maker that apparently makes perishable watches. I got an email regarding my great opportunity to save 40% off of "End of Line Collections". Let that sink in for a moment. A watch is not milk, or even cheese for that matter. Now granted, 40% off a direct (B to C) sale leaves them with 10% MORE than they would get from a retail partner, but the message it sends to retail partners is "f - you", and the message it sends to direct customers is "Sucker, you paid full price!". Now if this were a one-off event it might be excusable, but if memory serves this is not the first large discount sale. And this made me think of the sunk cost trap. Now to be clear, this is a variation of the theme, but because it is happening now with some regularity, it is in line with the construct - in this case, that the brand will do its best to sell, then dump the balance of stock on an annual basis. And this is where the true sunk cost trap comes in - they've already spent the time and money on new product even though they have not "cleared the shelves", and they need the cash to move forward. Surprisingly, they did the same thing previously. Not so surprisingly, they will probably do the same thing in the future. 

So as a public service, I share with you once again, The Sunk Cost Trap -

The Sunk Cost Trap

I think we have all experienced this in one way or another throughout our lives.  For those of you not familiar, the Sunk Cost Trap is the tendency of normal, sane people to foolishly and (if we're being honest) irrationally follow a plan that is clearly not succeeding in its expected outcome.  

Why?

Well, because we feel that we have "SUNK" too much time, and or money into the exercise and we further feel that all of that time and money will be wasted if we changed course.  

Sound familiar?

The Sunk Cost Trap explains why we keep books that we'll never read, and clothes that we've never worn. 

The Sunk Cost Trap explains why some brands continue to "sink" hundreds of thousands of dollars into failing partnerships, celebrity ambassadors and the on again, off again retention of the same PR firm that tends to get signed for a year, then replaced the next year, only to be signed again the year after that.  It's a bit like the Olympics or the World Cup, except that it's every two years instead of four.  

Why?  

Because they've sunk too much money into it now to walk away.

The Sunk Cost Trap explains why blogs and magazines will continue to keep a brand's ads running even though the brand has not paid for an extended period of time.  This is two-fold:

1.  Time spent and money not received
2.  Fear that walking away will ensure that the  brand will never advertise with them again - which is pretty silly when you consider that they are giving the brand free advertising already and not getting paid.  What exactly is it that they are afraid of losing?

The Sunk Cost Trap explains why someone who really only wants one nice watch will buy several discounted through the grey market assuming and hoping that the value of those watches will somehow magically increase in the not-too-long term so that they will be able to flip those watches and have a nice enough profit to then afford that one nice one...  

Which never happens because - you guessed it - they are then trapped by the notion that if they sell the watches they bought on the grey market they will be losing money.  Which, of course, they will.  So they hang onto the not-so-loved watches in the hope that things will change.  Which, of course, they won't.

The Sunk Cost Trap explains why a retailer who continually hoses the brand manager by not paying their memo account when they actually sell something will not be confronted by the brand manager.  

Why?  

Simple, the brand manager has sunk too much time and too much money into the partnership, and even though they often wait a ridiculously long period of time to get paid (making several expensive trips to the retailer to count the safe and prove to them that, in fact, they have sold the watches and need to pay), this "partnership" will live on. Often without the brand manager getting paid, and inevitably seeking new professional opportunities, because sooner or later that brand manager reports to the brand itself, and although they have kept on the brand manager probably longer than they wanted to because of (you guessed it) the Sunk Cost Trap, the brand manager is the easiest thing for them to change.

The Sunk Cost Trap explains why an honest retail  partner will get shafted by a brand who will not provide them with a limited edition watch to sell to their client (at full price) because they want to try to sell it at their own boutique.  Even though they do not have anyone who wants to buy it.  But the fear of having had it, and not selling it?

You get the idea. 

Santa Claus Is Alive And Well! The Lip T18 Original

It seems that Santa might be working part-time in Besançon.

Courtesy of Lip

Just in time for that special friend, family member, or of course yourself ; )

Readers might remember that on my last visit to Besançon back in March, I had the opportunity to check out the new Lip T18 -

I did not hesitate, and I put my marker down for one. Lucky me, as that version flew off the shelves in record time and I was the lucky owner of 180 / 180. For those of you who weren't fortunate enough to get one, it seems that Santa Claus might have sensed your disappointment on missing out the first go-round and spoke with team Lip -

Courtesy of Lip

You have two more bites at the apple! Two new versions of the T18 Original. The first version features a two tone (technically 3 with the gold tone indices) dial, and a tan ostrich strap.

Courtesy of Lip

The second version differs in that the indices are silver toned, and the watch is fitted with a darker ostrich strap.

The movement is of particular interest as it is a faithful reproduction of the original -

Courtesy of Lip

It is a unique piece of kit, with the majority of components sourced within hailing distance (France and Switzerland) and assembled in Besançon.

These two new versions of the T18 Original are available now, but if the last release is anything to go by, they are going to be gone in the blink of an eye, so if it's in your wheelhouse, don't dawdle!

The price is very fair for a watch like this - €1,990.00 tax included

Here are the pertinents -

Case - rectangular, polished & brushed stainless steel
Dimensions : 23.5mm x 41.5mm
Lug Width : 20 mm
Water Resistance : 3 atm
Weight : 58 grammes

Movement - Mechanical

Reference movement : t18 mecanique
Frequency: 21600 vibrations/hour.
Jewels: 21.
Accuracy: -12/+12 sec/Day.
Power reserve (Mainspring after fully wound up): 40 hours.
Finishing: Côtes de Genève, pearling, spiral pattern.

When You Go To The Well One Too Many Times

Now in fairness, I will be the first to admit that I am biased. I did work indirectly for DOXA (Via Synchron) for three years. I was an active participant in two (one very notable) efforts to diversify the DOXA collection in North America beyond the SUB. In fairness, the DECO was pretty popular. A flieger was mooted, but removed from the site after only a week. The less said about the ill-fated Ultra Speed the better, that was a vanity project that simply did not pan out. I would be fair to say that, at least 15 years ago, the DOXA buying public had spoken, and they only wanted the SUB.

Courtesy of DOXA

Now back then, there were some sorta' clumsy efforts at branching into dive watches styled and sized for women. One squib was the Coralline. If memory serves it utilized NOS cases and was more of a miss than a hit. But it is also important, gentle reader, to bear in mind that those of us trying to sell DOXAs direct (Synchron) between 2000 - 2018 did so without the benefit of the largesse of the owners providing marketing monies or assistance. The partnerships with Project AWARE (via PADI), the Cousteaus via Ocean Futures Society in Santa Barbara -

When I bumped into Mr. Cousteau in downtown Santa Barbara

We did that on our own.

We had this absolutely crazy idea that relationships with our partners did not necessarily have to be transactional.

But it seems I've veered off topic. Let's right the ship! Today's topic is the DOXA SUB 200T Diamonds. I mean, c'mon! People love the DOXA SUB, and everyone loves diamonds...

Courtesy of DOXA

Now in fairness to the brain trust in Biel/Bienne - they have managed to expand their retail network beyond Watches of Switzerland. Although I will say it was a bit odd to see the DOXA booth at the Wind-Up NYC show not being manned by actual DOXA (or even DOXA adjacent) employees, but rather, they farmed it out to a third party - Analog Shift...

But again, back to the matter at hand -

Courtesy of DOXA

Now as far as jewel set watches go, if this is in your wheelhouse, then by all means on you go!
But this is where the DOXA strategy, in truth, leaves me somewhat baffled. In the (I believe) 5 years since the owning family took back the rights to the SUB, that is ALL that they have put forward. And in fairness, if that is the strategy, and the strategy is working - then more power to them. But with that said, it is sort of tragically ironic that if this is the "new" strategy? It was always the strategy of Synchron. 

Courtesy of DOXA

The SUB 200T Diamonds is available in 7 different colors. It is priced at $9,400 USD.

Here are the pertinents -

MOVEMENT

Swiss mechanical automatic, self-winding
Power reserve 38 hours
Frequency 28,800 vph (4.0 Hz)
Decorated by DOXA

CASE

Stainless steel case
Diameter 39.00 mm x 41.50 mm
Height 10.70 mm
Screw-down crown
Water resistance 20 ATM / 200 meters / 656 feet
Stainless steel, screw down case back

INDICATIONS

Hours, minutes, seconds
Date

FEATURES

Sapphire crystal
Unidirectional rotating bezel

DIAMONDS SETTING BEZEL

107 white diamonds – round / VS 1.30mm-1.50mm / F color
13 black diamonds – round / VS 1.30mm-1.50mm / F color

BRACELET / STRAP

Stainless steel bracelet "Beads of Rice", folding clasp with ratcheting wetsuit extension
Lug width 18.00 mm

DIAL

Mother of pearl dial

And Then Panerai Called Out To Me

Okay, as previously noted, I am not a huge fan of mono-brand boutiques. Having said that, every now and then I get a pleasant surprise!

Newbury Street has become a hotbed for watch boutiques. IWC, Rolex, Patek, Richard Mille, and now Panerai.

Unlike a lot of boutiques - particularly the ones I remember from Beverly Hills, the Panerai boutique has a LOT of space. The displays are well spaced out, and unlike so many boutiques, there is actual product!

And of course, boutique exclusives.

And although everyone thinks Luminor when they think of Panerai, I favor the Radiomir -

And in the words of Chet Baker - I fall in love too easily...

I have been admiring this little wrist rocket from afar and finally had an opportunity to try it on.

The Radiomir Tre Giorni!

I think I admire so much because in many ways it is so different from what you think of when you think of Panerai. It is subtle, but yet still clearly a Panerai - just not so obvious! So now I have to have a serious conversation with my current collection and my piggy bank as the Radiomir Tre Giorni is haunting my dreams.

Above all else, however, a boutique is the people who work there. As a former Tourneau guy, I always make a point of identifying myself as press - NOT a potential customer. I don't want anyone feeling like I was wasting their time. In most situations, the sales staff will nod and say "feel free to look around". But clearly Panerai believes in customer service! Victoria who was working that day welcomed me, asked me whether I would like water (even sparkling) or coffee while looking around, and gave a lot of great information and feedback on the boutique, what was popular here in Boston, and is now complicit in my scheme to buy a Radiomir Tre Giorni ; )

So if you should find yourself in or around Back Bay, I highly recommend you pop in.

Proof of Life

In what is perhaps slightly heartening news, the masthead at Hodinkee bucked trends and actually increased by 2! 

Whether this means there is expansion, or that someone else within the 'Dink is getting ready to sling their hook remains to be seen. 

We shall wait, and we shall see.

Field Trip

My day job brought me to Boston and I found myself with a hour on my hands before catching my train back north, so I wandered down to Newbury and Boylston streets -

Although we haven't hit Thanksgiving here in the lower 48, everyone is already pushing that Christmas vibe.

I used to work in the main branch of the Boston Public Library, but in truth it has been a minute since then. I would walk from North Station to work, and this would take me down Newbury street. Needless to say, the IWC and Panerai boutiques are new, and Long's has a new Patek Philippe boutique across the street - complete with two very imposing security guards and a locked door ; )

Ordinarily, I am not a fan of mono-brand boutiques. Small selection, small space, disengaged staff. But yesterday I went against my bias, and popped into the Panerai boutique. And suffice it to say, I was very, very impressed!

I will sum it up later this evening, as work is calling and it's a long drive to the Merrimack Valley ; )

Stay tuned!
 

When I Think About Dirk Pitt, I Think About...

Cufflinks?

Courtesy of DOXA

Now, in fairness, maybe there are some folks out there who want these. But please allow me to provide you with some needed context -

When I first launched the Blog Formerly Known as Tempus Fugit, I went to BaselWorld and JCK and multiple brand dinners in Los Angeles. Invariably, there would be swag. More often than not, the swag would be divided by "his" and "hers". If it was Patek Philippe it meant the guys got a tie - which were always very, very nice. If it was Hermes, the guys often got a pocket square. And inevitably, there were the cufflinks. 

Now, beyond that, as someone who used to sell DOXA SUBs on behalf of Synchron in North America, I feel empowered to make the following statement -

The "typical" DOXA SUB customer back in the day (2005 - 2012) was a bit of a stereotype. Having done several events, as well as handling customer service, and writing a lot of the ad copy, I feel confident in this assessment. Almost exclusively men, who (if the Watch U Seek forum was anything to go by) were "manly men" who had they been born at the right time would surely have enlisted after Pearl Harbor, and punched a Nazi out on Normandy Beach. 

Courtesy of DOXA

So thank goodness that DOXA still knows and understands its customer base! 

Now, in fairness, I haven't worked even adjacent to the Jenny's (DOXA company owners) for going on 15 years. And it also seems that they have finally grown their retail network beyond Watches of Switzerland. They have enough SKUs to sink a boat, and if they ever decide to do something beyond a dive watch, who knows?

With that being said, $1,280 for a complete set of DOXA SUB cufflinks ($330 per pair if bought individually) seems a bit hopeful. With that said, I do know that there are guys out there who probably had Dirk Pitt tattooed somewhere on their person, and maybe even the Jenny fish logo, so perhaps there is a market...

A funny side story, I had worked HARD to get a one page feature in what was at the time the equivalent of The Rake, Men's Vogue. I was actually really proud of this because it was not an easy thing to get done. And my boss almost scuppered the whole thing as he tried to get the writer to add 1000 words to a 300 word piece. So I posted an image of the story on the DOXA forum and the "He Men" came out in droves! Comments like:

"Men's Vogue? Better check your man card! Haw-haw!"

A lot of years have passed, and with only a pistachio dialed SUB waiting to be released, the Jennys have certainly taken it farther than we were ever allowed to go. But this latest salvo, to be honest, I just don't know. But for those die-hard DOXA guys out there who need something to help dress up their "formal" t-shirt, it's nice to know that they'll have options...

The Seconde Française 19.24

From BEAUBLEU -

Courtesy of BEAUBLEU

The Seconde Française collection is a limited release - 888 pieces in total.

Courtesy of BEAUBLEU

It boasts a French made movement, and the watch as a whole is assembled in Paris.

Courtesy of BEAUBLEU

I will endeavor to get some more details and provide a longer piece on this brand, and its latest offerings. Stay tuned!

Until then, here are some of the pertinents -

The case is of stainless steel with a display back, measuring 39 mm in diameter, water resistant to 5 atmospheres.

The movement is Festina's, via France Ebauches: 

MANUFACTURE FRANCE EBAUCHECALIBER FE MOVEMENT - AUTOMATIC
POWER RESERVE - 46h
ACCURACY +7/-7 SEC.DAY

Reasonably priced at $1,326

Reality Check In - Who Really Pays The Tariff?

Campaign Promise Irony!

And no, that's not a special edition from Swatch to goose sales this November ; )

As the dust settles, and geopolitical uncertainty seems likely to be a "state of being" for the next four years, I thought it might be interesting to consider what the impacts might be if the promise of tariffs is realized and how it will impact things like, I don't know, the cost of watches?

Now curious to relate, watch town North America is populated by a lot of fans of the returning President-Elect. 

And fair enough, it is a free country. 

But what is even more curious is that many folks in the lower 48 cited inflation as their motivation for voting as they did, and that it was downright un-American to pay an additional .10 for a dozen eggs. 

And, fair enough, it is a free country.

The incoming President-elect has promised 60% tariffs on items coming into the US from China, and 10% from everywhere else. His rationale being that this won't hurt Americans as it is the Chinese (and other governments) who pay the tariffs. Now in fairness, I am not a trained economist, and I did't graduate from Penn's Wharton School. But as I have spent a fair amount of time working in Watch Town and Watch Town adjacent areas, I feel fairly confident in imparting the following reality - tariffs are not paid by the exporting countries. In fact, they are not paid by countries at all. How can I be so sure? Well, I have this odd habit of reading and researching rather than parroting what I hear on social media. Not to mention I have worked for companies that sell (and ship) to US customers from Switzerland, Japan, and Germany, and suffice it to say that those countries are not paying the import duties and taxes. You, Red, White, and Blue customer are. A few companies will lower their prices and eat the expense, but that is not a universal practice. 

So, as a public service, I thought I'd share some of my learnings with you. An interesing piece  on import tariffs that even I, a graduate from a large land-grant university can understand. You can read it in its entirety here -

https://taxfoundation.org/blog/who-really-pays-tariffs/

Authored by Alex Durante, Alex Muresianu for taxfoundation.org:

"When the Trump administration imposed tariffs on various imports in 2018, the stated purpose was to boost US industries and punish foreign exporters. But rather than hurting foreign exporters, the economic evidence shows it is American firms and consumers hardest hit by the Trump tariffs. The tariffs resulted in higher prices for a wide variety of goods that US consumers and businesses purchase. The Biden administration has continued and even increased many of the Trump tariffs—drawing some attention as inflation rises. And while tariffs do raise prices for American consumers, their impact on economy-wide inflation is relatively small.

When the US imposes tariffs on imports, US businesses directly pay import taxes to the US government on their purchases from abroad. The economic burden of the tariffs, however, could fall on others besides the US business directly paying the tax, including foreign businesses selling goods to US businesses (if foreigners lower their prices to absorb some of the tariffs), or US consumers ultimately purchasing the goods (if US businesses raise their prices to pass on the tariffs).

Historically, economists have generally found that foreign firms have absorbed some of the burden of tariffs by lowering their prices, meaning domestic firms and consumers haven’t borne the entirety of higher tariffs in the past. In contrast to past studies, however, new studies have found the Trump-Biden tariffs have been passed almost entirely through to US firms or final consumers.

Economists Pablo Fajgelbaum, Pinelopi Goldberg, Patrick Kennedy, and Amit Khandelwal examined the tariffs on washing machines, solar panels, aluminum, steel, and goods from the European Union and China imposed in 2018 and 2019. They found that US firms and final consumers bore the entire burden of tariffs and estimated a net loss to the US economy of $16 billion annually, including more than $114 billion in losses to firms and consumers, offset by small gains to protected producers and revenue gains to the government."

Now, funnily enough, the guys (almost exclusively men) working in Watch Town US are very excited about the new administration coming in.

And, fair enough, it is a free country.

But I do have to wonder how enthusiastic they will be when their sales numbers start to stall out. Now it is curious to relate, that several of these guys (again, almost exclusively men) are absolutely convinced that nobody will balk at paying an EXTRA 10% for their watches, pens, and other non-essential luxury goods. I heard many of these fellows crowing post election day as to their certainty of this point.

And, fair enough, it is a free country.

But, and here's the rub - if we had a record number of people cite the economy and the price of eggs, milk, and gas as a reason to vote the way that they did, do you really think that they won't feel it when the extra 10% gets larded into the price of their watches, pens, and other nonessential luxury goods? Moreover, when Swiss brands are noted not for their sudden discounting, but rather, very predictable price increases, do you really think that they are going to adjust things just to suit the the US?

And, fair enough, it is a free country.

And one last thing - if you labor under any illusions as to China's involvement in the Swiss watch industry, I need only direct you to, well, Switzerland. Ultimately, in politics, love, and family? We tend to believe what we want to believe. We tend not to let realities get in the way of our hopes, dreams, and political promises.

And, fair enough, it is a free country.