Rolex watches top search on Dubizzle



DUBAI // Second-hand Ikea furniture, mobile phones and cheap deals on flat-screen TVs – these are what you would expect most shoppers to be hunting online.

But classifieds website Dubizzle says the most searched-for item this year has been Rolex watches.

“Rolex being the number one brand searched on a classifieds website, I think, is quite unique to the UAE,” said Irina Katchan, Dubizzle’s marketing manager. “The market here strives to get luxury items at a discounted price.”

Dubizzle has, for the first quarter of this year, released its first rundown of goods advertised.

Items included a diamond valued at Dh970,000. At the lower end were eggs and a used toothbrush.

Dubizzle said the value of clothes and accessories advertised was Dh181 million, or twice what Brad Pitt took home each year.

Mobiles, with a total value of Dh72.3m, equalled Britney Spears’ annual income.

Furniture totalling Dh87.5m equalled four top-end Lamborghini Veneno Roadsters, and the value of watches for sale online was more than Dh156m, or double what George Clooney banks each year.

Behind Rolex in the most searched-for list was furniture, iPhones and Bose sound systems.

“I would have guessed it would have been furniture rather than luxury-branded watches because there is a lot of traffic in the furniture and mobile phone sections,” Ms Katchan said.

Other popular listings included computers, cameras, baby strollers, guitars and bicycles. Pets also made the list, with adoptions of cats almost tripling those of dogs – 2,853 to 1,011.

“It’s a good mix of luxury, budget and local brands and interesting to see what the user is looking for,” Ms Katchan said. “The diversity could be because of the transient nature of expats.

“There is a big focus on the retail industry but actually in the UAE economy there is a lot of trade and bartering happening, interesting bargains you can get on the side.”

The diamond worth Dh970,000 was the most expensive object on the site. Details were not immediately available about the gem’s size or whether the owner received the asking price.

About 482,032 used goods and objects were put up for sale, equalling one posting every two seconds. The total value of second-hand items posted in the first quarter totalled Dh3.5 billion.

“It shows how people are moving items and that anything can be sold,” said Abdallah Touqan, Dubizzle’s communications manager.

"We had an aeroplane on sale last month or people randomly place eggs on sale or a second-hand toothbrush."

The report focused on the classifieds section so cars, homes and jobs were not included. The prices for items sold are not in the report because the website does not keep track of successful sales or prices.

Trends followed by Dubai residents were also noted by interior design experts who worked on eight homes in 2014 and this year as part of the “Dubizzle your home” series launched last September.

A bachelor pad, a children’s bedroom and living rooms of winners in Dubai, Sharjah and Abu Dhabi were renovated within a Dh5,000 budget from items posted for sale.

“The trends in Dubai change rapidly with people moving from going ape to looking for multi-functionality now, as they seem to want to simplify their lives,” said designer Sebastian Strassburg.

His colleague Darrin De-Grads said: “How much people spend varies but we’re seeing people realising they can revamp their home by changing something as fundamental as the lighting.”

rtalwar@thenational.ae

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Why%20all%20the%20lefties%3F
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Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

The specs: Lamborghini Aventador SVJ

Price, base: Dh1,731,672

Engine: 6.5-litre V12

Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

Torque: 720Nm @ 6,750rpm

Fuel economy: 19.6L / 100km

Directed: Smeep Kang
Produced: Soham Rockstar Entertainment; SKE Production
Cast: Rishi Kapoor, Jimmy Sheirgill, Sunny Singh, Omkar Kapoor, Rajesh Sharma
Rating: Two out of five stars 

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

MATCH INFO

Serie A

Juventus v Fiorentina, Saturday, 8pm (UAE)

Match is on BeIN Sports

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

Fire and Fury
By Michael Wolff,
Henry Holt

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

On sale: Now

Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

Company%20Profile
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COMPANY%20PROFILE
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MATCH INFO

Uefa Champions League quarter-final (first-leg score):

Juventus (1) v Ajax (1), Tuesday, 11pm UAE

Match will be shown on BeIN Sports

Match info

Deccan Gladiators 87-8

Asif Khan 25, Dwayne Bravo 2-16

Maratha Arabians 89-2

Chadwick Walton 51 not out

Arabians won the final by eight wickets

Company%20Profile
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TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

Company%20Profile
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
RESULT

West Brom 2 Liverpool 2
West Brom: Livermore (79'), Rondón (88' ) 
Liverpool: Ings (4'), Salah (72') 

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.