The Watch Appreciation Thread - Part two (Rolex, Patek Philippe, Audemars Piguet, Jaeger LeCoultre,

[Scuppers]

The news coming out now is he had a gambling addiction which all make sense. Some of my friends did have good dealings with him in the past but I presumed the gambling got to him robbing Peter to paid Paul. The watch community in Australia still can't get over how long he has been covering the tracks and until no one came out and spoken about it publicly.

I can’t recall if you are Sydney or Melbourne?
But, yeah, his gambling problem was brought to my attention, too. However, a friend in Perth said he has been defrauding for years.

 

[Purplelabel]

I had a nose at the new Aqua Terra yesterday. Stunning little thing.

 

[tchoy]

I can’t recall if you are Sydney or Melbourne?
But, yeah, his gambling problem was brought to my attention, too. However, a friend in Perth said he has been defrauding for years.

I am in Sydney, it seems that way more and more people are coming out with stories to tell. One of my mate just ordered a watch with him I don't like his chances of getting his money back.

 

[Scuppers]

I am in Sydney, it seems that way more and more people are coming out with stories to tell. One of my mate just ordered a watch with him I don't like his chances of getting his money back.

“sigh”
Whatever he purchased, good luck!

 

[Neville Southall]

Speaking as a social media phony, own as many watches as you want, whether that's zero or more. I own eleven Rolexes and I'll acquire more, I have no doubt. Collecting watches is fun for me, but if it is not fun for you, don't do it. Simple as that.

Well said.

 

[Neville Southall]

The news coming out now is he had a gambling addiction which all make sense. Some of my friends did have good dealings with him in the past but I presumed the gambling got to him robbing Peter to paid Paul. The watch community in Australia still can't get over how long he has been covering the tracks and until no one came out and spoken about it publicly.

Yeah - this **** blew up massively and suddenly. I feel terrible for the people that were victimized.

 

[Thrift Vader]

Realistically, a guy needs none. The phone can do everything a watch does but more accurate.

For me, I'd probably be pretty happy with 5-7 watches with a mix of dress and sport watches.

I was pondering today, as my phone continued to ring in my pocket whilst driving. "why do i allow myself to be bothered at all times?" Perhaps i will leave my phone at home indefinitely, unless expecting a call. yes, that seems prudent.

A watch is always there to tell you the time, at your request. however, nobody uses it to bother you.

At this time, I have 8 Watches. and am reluctant to part with any of them, as they all have a story.

@George Red Your 3 seem like a fine set of life long friends.
nice choices.

 

[Journeyman]

This may have been asked by someone, but ... how many watches does a guy NEED? I am considering consolidating my collection. Part of me wants to get out of the watch game altogether. It used to be fun. Hell, I’ve been in it for ten years. In my opinion, it all went to **** the moment some poor dude walked into an AD, asked for a sub, and was told to get on a list. It’s now more of a toxic one-up-game played by phonies on social media.

As you've mentioned, I think that social media (including fora such as SF) have a lot to do with the current enthusiasm for watch collecting, as well as having large collections of shoes, suits, jackets and so on.

Of course, there have been WISs (Watch Idiot Savants) for decades, but even after the internet allowed them to come together on sites such as Timezone, they were still quite small in number. It's really only the past decade, or even the past five to six years, that watch collecting has really caught the attention of bloggers and social media, with a concomitant increase in demand for watches and thus increased prices and reduced availability of certain watches.

For many decades, the vast majority of men (such as my dad) survived with one watch. Many had that watch for their entire lives and never thought of getting another watch.

I suppose that the above is a rather long-winded way of saying that you really only need one watch (if you need a watch at all nowadays) and that anything else is, quite simply, an indulgence. There's nothing wrong with that, of course - most of us have our various indulgences. But I do think that it's easy to get caught up in an artificially-induced frenzy, with a feeling that we must have another watch, or another pair of shell cordovan shoes, even though we already have an existing collection many similar items.

I've got two watches. One is a bit dressy, although not formal, and one is a bit sporty. Quite a few days, particularly in summer, I don't even wear a watch. I sometimes think about getting one or two more, but then I think about the opportunity cost - I could use that money for the mortgage, or to put towards a holiday with the family - and I push the temptation away.

 

[brax]

Except that we don’t have any data on the rate of sales. There could simply be a considerable lag in the indicators.

Yes. It could be a lag. A really long lag in some instances where secondary price has been stable for a long time. But more likely it is a sign of a healthy primary market.

 

[brax]

Sure, the watches don't hit the secondary market unless they are sold initially by the AD. However, we don't know if the pieces in the secondary market (at least those sold by watch shops and not private individuals) came to the store via an actual consumer or if they were part of a group of watches liquidated/sold by ADs to gray dealers. In addition, as for the prices posted, those are asking prices. Those are not necessarily firm prices, maybe except on high demand items.

I would also, say that the secondary market is not necessarily indicative of the demand for watches in the same way that the inventory of an AD is indicative for demand. Walk into a Rolex or Patek AD...and most likely you will not find a new steel Submariner, Daytona, GMT Master, or Nautilus in a show case for sale (and I'm not speaking of the ADs that some of you guys are speaking of I think in Asia where they have a sample, you can look at, but can't buy). I've been to a few US ADs in the last 60 days and none of them had any of those watches available to purchase. While the local Patek AD had a bunch of Calatravas in the showcase, a platinum Golden Ellipse and some complicated pieces (Perpetual calendars and a chronograph).

By contrast, a well known gray dealer EWC, has multiple Pepsi and Batman GMTs, multiple Hulks, and multiple Daytonas, and although their stock of Nautilus's is not as plentiful as it is sometimes they have a few, and they only had I believe 8 time only pieces (Calatravas, a Golden Elipse, and a Gondolo), the rest were all complicated Pateks on straps. The same is true of another gray dealer in my area (multiple sport model Rolex watches, not that many dress pieces from Patek, AP, or Cartier).

I don’t disagree (intentional double negative). But those plentiful Batmans (Batmen?) and subs at EWC are all being sold at a premium which is a reflection of a healthy primary market (thus none at ADs). So this actually supports my position that a little discounted secondary price is a decent indicator of a healthy primary market.

 

[brax]

I’ve come to the conclusion that 5 is the right number for me:
1. A day and date watch for overseas travel that can take a real beating. 38mm Luminox
2. Watch to wear with shorts or jeans. 40mm black Rolex Explorer II
3. Watch to wear with blazer or sport coat. Don’t have anything to fill this niche.
4. Watch to wear with business suits. Patek black 5170g
5. Watch to wear on evening social occasions. Patek white 5153g

 

[brax]

No Rolex SS in Cebu, Philippines.

 

[mak1277]

For me, I think three is the right number.

1) everyday watch that's going to get 80+% of my wear. Currently I have two watches that would qualify for this (Aqua Terra and a Sub, the latter of which would be my choice in an ideal trio.

2) dress watch. Gold, 3 hander. I don't currently have one.

3) wildcard. Maybe something vintage, maybe a chrono, maybe something colorful. Whatever, this is a rotating spot for a "different" watch that I don't mind neglecting and not wearing in rotation.

 

[LA Guy]

I can’t recall if you are Sydney or Melbourne?
But, yeah, his gambling problem was brought to my attention, too. However, a friend in Perth said he has been defrauding for years.

I think that I posted that his behavior was suggestive of a gambling addict in my first or second post about this.

People don’t develop gambling problems overnight. The problem tends to grow until it spirals out of control. Most people can have fun shooting craps or betting on horses and have no issues. It’s just an entertainment expense. For some, they shouldn’t even start.

 

[LA Guy]

As you've mentioned, I think that social media (including fora such as SF) have a lot to do with the current enthusiasm for watch collecting, as well as having large collections of shoes, suits, jackets and so on.

Of course, there have been WISs (Watch Idiot Savants) for decades, but even after the internet allowed them to come together on sites such as Timezone, they were still quite small in number. It's really only the past decade, or even the past five to six years, that watch collecting has really caught the attention of bloggers and social media, with a concomitant increase in demand for watches and thus increased prices and reduced availability of certain watches.

For many decades, the vast majority of men (such as my dad) survived with one watch. Many had that watch for their entire lives and never thought of getting another watch.

I suppose that the above is a rather long-winded way of saying that you really only need one watch (if you need a watch at all nowadays) and that anything else is, quite simply, an indulgence. There's nothing wrong with that, of course - most of us have our various indulgences. But I do think that it's easy to get caught up in an artificially-induced frenzy, with a feeling that we must have another watch, or another pair of shell cordovan shoes, even though we already have an existing collection many similar items.

I've got two watches. One is a bit dressy, although not formal, and one is a bit sporty. Quite a few days, particularly in summer, I don't even wear a watch. I sometimes think about getting one or two more, but then I think about the opportunity cost - I could use that money for the mortgage, or to put towards a holiday with the family - and I push the temptation away.

I got into this because of my wife. She wanted a nicer watch, so I started looking, purely for her. At the time, I had no interest in watches, or rather, no more interest. In the past, I had, and had bought up as far as my lack of knowledge and lack of funds (I was in grad school) would allow me to. But I smashed so many sapphire crystals that I got completely fed up. I kept the gift, but literally never wore it after I got i(Ironically, I had worn it for occasions before that.) Then someone told me that vintage watches used acrylic crystals, and that handwound watches were more durable (in retrspect, d'oh) than automatics, and I became reinterested.

I don't think that I have a set number of watches I want or don't want. If something catches my eye, I'll keep in in mind for a possible purchase later if I have the funds on hand and there is nothing particularly irresponsible about using the money that way.

I do like some older Rolexes that don't have that negative connotation that I have about the brand (so, old Explorers, some linen dilaed older Datejusts, and the Day-Date, primarily, not the Subs or GMTs). But the fact that so few references are handwinders, that Rolex seems to be really anal retentive about servicing watches that have any deviations from factory specs at all, and that a lot of the prices are just well beyond my comfort zone, oh, and that it seems really profitable to fake Rolexes, has kept me safely out of that rabbit hole.

The only Rolex that I really wanted, and simply underbid on, was a vintage Air King that had the LA streetwear brand "X-Large"on the dial. That, I do regret not having bought it when it was languishing, overlooked. Once it went to Christies for auction, it went for, including the buyer's premium, close to 2x the price it was sitting at the retailer's for for well over a year. Next time, maybe I'll trust my gut and knowledge about streetwear.