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The frenzied world of rare watches

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121–130 of 145 posts

Re: The frenzied world of rare watches

#121

Ultra wealthy people obsessed with fancy jewelry while 12% of the world doesn't have electricity at home. Sad. Please put your resources to work doing something beneficial for society. Maybe this film scene can move your heart: https://youtu.be/W9vj2Wf57rQ How many lives could that watch have saved?

What a cartoonish view.

Re: The frenzied world of rare watches

#123
post #15
post #7

I've been a fan of budget Seiko mechanical watches from the 60's and 70's. Most of the time they run well, servicing isn't terribly expensive, and you can get them for usually a few hundred dollars, maybe a grand for a really nice specimen. What's cool about them is you can decipher the serial number [0] to the month and year they were made, so they can commemorate an event, even if it happened a long time ago. But y…

I am a fan of another Japanese watch brand, Citizen, particularly the Eco-Drive models. Solar powered, very durable, and they look great. Prices range from $100 for basic models to over $3000 for the Hakuto-R (there is some connection to the Japanese lunar mission, https://www.citizenwatch.com/us/en/product/CC4016-75E.html ). Most Citizen watches are water resistant as well. I've had one model running continuously fo…

Eco-drive is awesome. I used to wear an Eco-drive for ~8 years and I never had to charge it or even adjust the time – I doubt it lost more than a minute or so in all that time.

I have a couple of Seiko solar watches now. They're good too but the charging is not as good as the Eco-drive as they charge pretty poorly indoors or in cloudy weather.

As an aside, the most expensive Eco-Drive is now the Eco-Drive One at ~$5400 (https://www.sakurawatches.com/citizen-eco-drive-one-limited-...) - named so as it is only 1mm thick.

Re: The frenzied world of rare watches

#124
post #19

So I really like mechanical watches but I've kind of lost interest because it's nigh-on impossible to buy anything new (unless you're a high net worth individual) and the secondary market is utterly insane. Example: Rolex Daytona in steel retails for ~$13,000. You can buy that from the store and immediately sell it on the secondary market for $30,000+. The Patel Phillippe Nautilus 5711A is similar ($25-30,000 retail,…

> You can buy that from the store and immediately sell it on the secondary market for $30,000+

This obviously can't be the full story. I'm fairly confident you didn't just discover an infinite money glitch. Whereas if it is what you are describing it that's exactly what it would be.

Re: The frenzied world of rare watches

#125

Earlier quoted context omitted.

No, none of those things. And I have absolutely no interest in impressing others. I own basically nothing except 256-bit numbers. Never owned a watch. If you saw me IRL you would think I am a bum. It’s much better that way to hide in plane sight. I agree that a lot of tech is conspicuous consumption — phones are classic example. I hadn’t considered the longevity of the devices. This does increase their value.

Why do you assume all of these things only exist to impress others? There's a lot to appreciate in the design and craftsmanship of a well made product, its impact on culture, or its significance in history. Or maybe the object simply puts a smile on your face when you see it or touch it. That new phone could make someones work day more efficient. That diamond necklace could be a gift from their loved one and a remind…

The satisfaction you get just seems very price-inefficient and lot of that price seems to be traceable to one-upsmanship. What is the special value of the diamonds in the necklace?

Re: The frenzied world of rare watches

#126
post #124
post #19

So I really like mechanical watches but I've kind of lost interest because it's nigh-on impossible to buy anything new (unless you're a high net worth individual) and the secondary market is utterly insane. Example: Rolex Daytona in steel retails for ~$13,000. You can buy that from the store and immediately sell it on the secondary market for $30,000+. The Patel Phillippe Nautilus 5711A is similar ($25-30,000 retail,…

> You can buy that from the store and immediately sell it on the secondary market for $30,000+ This obviously can't be the full story. I'm fairly confident you didn't just discover an infinite money glitch. Whereas if it is what you are describing it that's exactly what it would be.

The problem is that a dealer won’t actually sell you a Rolex unless you’re a repeat customer or you spend an absurd amount on other random jewelry. If you just walk into a Rolex dealership and ask to buy a Submariner, you’ll be put on a list (and you’ll never get a call). If you walk in and spend $100,000 on a diamond bracelet with a large markup and also ask for a Submariner, you might get put somewhat higher on the list. The dealers know the secondary market prices and most will make sure _they_ are getting more or less the same markup even if Rolex won’t let them outright sell at the secondary market prices.

Re: The frenzied world of rare watches

#127
post #124
post #19

So I really like mechanical watches but I've kind of lost interest because it's nigh-on impossible to buy anything new (unless you're a high net worth individual) and the secondary market is utterly insane. Example: Rolex Daytona in steel retails for ~$13,000. You can buy that from the store and immediately sell it on the secondary market for $30,000+. The Patel Phillippe Nautilus 5711A is similar ($25-30,000 retail,…

> You can buy that from the store and immediately sell it on the secondary market for $30,000+ This obviously can't be the full story. I'm fairly confident you didn't just discover an infinite money glitch. Whereas if it is what you are describing it that's exactly what it would be.

The issue is supply. It's limited. And of those you can't just walk into a store and buy one. You have to be a valued customer. This typically means buying things that aren't watches that have much higher profit margins (since most ADs are jewelers). Or just being a celebrity or high net worth individual.

Compare the Rolex Cosmograph Daytona new for $14,550 MSRP [1] and used (but unworn) for $42,875 [2].

[1]: https://www.rolex.com/en-us/watches/cosmograph-daytona/m1165...

[2]: https://davidsw.com/shop/watch/rolex/rolex-116500ln-cosmogra...

Re: The frenzied world of rare watches

#128
post #80

Earlier quoted context omitted.

I would assume one could become skilled at mushroom foraging much, much faster and with much, much less tooling than creating a watch movement.

Sure, but anyone with 500k to buy a watch can surely afford to buy the tools.

I’m all about DIY, my thought process when buying something usually goes like so:

“Huh, this is pretty pricy, I bet I could make that” and about 50% of the time I actually make it, the other 50% I find it on sale and buy it then…

But just because I can make things doesn’t mean I can’t appreciate someone else’s work. I can paint, but I still buy artwork from other artists.

Sometimes it’s just about appreciating other people’s work.

Re: The frenzied world of rare watches

#129

What is the allure of these things? They keep worse time that an ntp synced phone, have no internet connectivity and few features. It’s all conspicuous consumption, right? If you know, you know — a way to signal wealth without being too brazen.

Fact is that jewelry wouldn’t be a “hobby” if no one ever saw you wear it. You can espouse all the needless complexity and pass it down value, but it’s all make believe weird “you can tell a lot about a man by the watch he wears” BS.

Re: The frenzied world of rare watches

#130
post #118

Earlier quoted context omitted.

The tension now in mechanical watches between craftsmanship/longevity/utility and status/collect-ability is weird, and distorts the market a little. Rolex used to be a utility watch, not a luxury watch. That's clearly changed a LOT, even to the point that I occasionally hear people say silly things about babying them (e.g., not going in the water in one, which is crazy). Omega was less inflated when I bought my Brosn…

Fellow owner of a 2531.80 of a similar vintage. It's been on my wrist through many sailing and climbing adventures. Fantastic watch for the money and quite durable. Keeps great time for a mechanical watch as well.

I will note, however, that if you take back to the snooty jeweler you bought it from for a bracelet adjustment and then drawl "Hey, how ya make that laser shoot out?", they will not think you are funny.
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