Reciprocation bias and watch collecting

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.

Rolex Daytona – Why does it defy logic?

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.

Shorter product cycles and the ‘Enjoyment Gap’ for watch collectors

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 and watch collecting

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!

Do you have the right to sell your watches?

Anyone who has been collecting watches for more than a couple of years will recall a time when they were able to buy today’s most desirable watches right out an authorised dealer’s display cabinet. Today you might be labelled a “flipper” and blacklisted by a brand for selling something you rightfully own and should be able to do with as you please. Is that right?

Sell more, buy less

I watched two seemingly unrelated TED talks, but I thought they were interestingly connected; One tackles how to get rid of things you already have, and the other offers advice around minimising the acquisition of new things. As watch collectors, this seems to summarise a conundrum we face daily!