Authorised dealers can sometimes act like you owe them something more than the retail price of a watch, simply for being allocated the watch. I figured we could talk about this in more detail, and consider how the reciprocation bias comes into play.
Bring a Trailer has become one of the major destinations for car enthusiasts to find the next classic or cult machine to add to their garage. With this in mind, I wanted to talk about Doublewrist; a platform taking the same auction model and applying it to watches. The founder is a California-based lawyer who I met via Instagram, and we’ve grown to become friends over time. Since I think the concept is actually awesome, I thought it deserved some attention.
I shared a recent post by @watchanalytics on Instagram, asking people about their opinion on the Rolex Daytona, and whether its price performance was justified. Needless to say, this led to several interesting conversations, and I’d like to share some thoughts on the topic here.
Nearly everyone believes they would be better off spending less time on social media, and yet, they don’t actually follow through with that goal. The inescapable fear of missing out, the desire to know what is happening, seems to reel us back in. So, what is happening, watchfam?
This post is about something I made up, called “The Enjoyment Gap” which arises as a result of watches being released too often. Collectors keep buying them as a result of the need for dopamine or to fuel the status drive, and the releases keep coming, likely a result of watch companies trying to take advantage of the buoyant market we’re in right now. So how does that play out?
Social status is formally defined as “a person’s standing or importance in relation to other people within a society” and yet, people often think of status exclusively in terms of wealth. The truth is, the concept of social status is at play everywhere; In every situation where we get the feeling that we are of value to other people, or where where we feel even an iota of elevation in our relative social position. The universal human desire for status greatly influences our culture, as well as our own behaviour and the ups and downs of our mood… turns out, this probably has a lot to do with our hobby as watch collectors too!