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.
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?
I recently had a fascinating conversation with “D” @doobooloo about his new Furlan Marri watches, contrasting them (perhaps surprisingly) with his new R. W. Smith “micro architectural wonderland” which he recently took delivery of, after a 5 year wait! We then got onto the topic of how depreciation has changed the collecting mindset… and this post gives us a glimpse into collecting in what I call the “endgame league” – I’m sure D will disagree! I hope you enjoy the perspectives.
A week ago @nycwatchguy started blogging too – which is good news for the watchfam. In his most recent post he discusses “The rules of engagement” for brands in the watch world… and I thought I would share some frameworks to help folks understand with a little more detail how brands think about the process of allocating a watch to a client. I still agree with him, that it would be nice if brands were more transparent, however, I think we should not hold our breath.
Yesterday, over lunch with the infamous @nycwatchguy and @f1ptb… … we discussed the concept of purchases under pressure. In the current environment this issue is far more pronounced, due to the rise of limited editions, the increased popularity of independent watchmaking (who have lower supply inherently) and because of general hype with any popular watches – often fuelled by the influx of profiteers into the watch game, who tend to pose as genuine enthusiasts or collectors. This also raised the question of what defines a “genuine” enthusiast anyway; and when is it ok to sell a watch without being labelled a flipper? Thoroughly enjoyed the conversation, and thought I would share a bit here.
The “Front Page Test” is an easy ethics standard which requires asking yourself: “How would I feel if the course of action I am considering were reported on the front page of the local newspaper or in a popular blog?”. The idea is, if you feel this would be uncomfortable or create problems for you, then the best course of action is to change the intended course of action. Simple as that.