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The frenzied world of rare watches

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31–40 of 145 posts

Re: The frenzied world of rare watches

#31
I have been watching a lot of youtube videos from "wristwatch revival", Marshall has an oddly soothing, breezy voiceover as he services mechanical watches. Its kind of like Bob Ross.

The workmanship in even prosaic mechanical watches is neat to see as he disassembles them.

Re: The frenzied world of rare watches

#32

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.

Did you never want something because it’s nice and inspiring? A sports car, a big Lego, a cap of your sport hero, a computer full of LED? Did you want this only to impress others? Have you had such a watch on your wrist and felt how it wore? Once you start learning about how those are built etc this becomes a small hobby that’s very nice to enjoy in all the trouble nowadays. Of course some wealthy people will buy those just because they can afford them, but those are not the collector enthusiasts who built the watch culture that allowed those brands to grow to where they are now.

Watch enthusiasts will say all tech is conspicuous consumption because it lasts so little and loses value very quick. There is little more sustainable than a Rolex that still wears nice after 50 years, and can probably hold 100 if taken care of.

Re: The frenzied world of rare watches

#33
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,…

>>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) As a sanity/reality check, I think we really really need to distinguish "Mechanical Watch" (which can be gotten for as low as $25USD for a crappy cheap but functional and self-winding mechanical piece), and "Rolex" :->

Indeed, many companies serve all kinds of budgets. There is interesting stuff at all prices.

Re: The frenzied world of rare watches

#34

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.

Mechanical watches are fun. You can buy something like an Invicta with a display back for $100 and see the moving parts as it runs. Sure you have to adjust the time, wind it etc. But that is part of the charm. Like a chunky, pre digital reminder of the past.

Re: The frenzied world of rare watches

#36

I wonder how many of these are counterfeit.

I think that amongst the "high end," counterfeits are probably not that common. Dealers tend to have a reputation to maintain and even the best clones are easily distinguishable once the case-back is opened up and the movement inspected.

There are a few rare Rolex models with "1:1" clones which can have an authentic movement installed. There may be some "high profile" counterfeits of these pieces floating around, but it's hard to say.

I think that in the mid-market, counterfeits are probably more common than we would hope. Modern Rolex and especially Panerai clones are quite good, far from the Canal Street "folex" type watches of old. I bet that a large number of Panerai watches seen worn are fake. Panerai have an especially major problem with this because for years, they used commodity movements from ETA, sometimes lightly decorated (although sometimes not - see the "Brooklyn Bridge" Panerai scandal), rather than proprietary movements like Rolex. So movements were widely cloned, and for an even more accurate copy, one could engrave an authentic ETA movement with the Panerai finish and have an extremely difficult fake.

This hobby is surprisingly open and very interesting - you can find forums like Replica Watch Info or /r/RepTime and learn in great detail the specific, minute differences between each replica factory's attempt at a counterfeit vs. the original.

Re: The frenzied world of rare watches

#37
post #32

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.

Did you never want something because it’s nice and inspiring? A sports car, a big Lego, a cap of your sport hero, a computer full of LED? Did you want this only to impress others? Have you had such a watch on your wrist and felt how it wore? Once you start learning about how those are built etc this becomes a small hobby that’s very nice to enjoy in all the trouble nowadays. Of course some wealthy people will buy tho…

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.

Re: The frenzied world of rare watches

#38
Cars are in the exact same place. Everything, even "mid-range" or "practical" cars, has gone ballistic valuation-wise, and owners are left trying to figure out whether to drive their cars or mothball them.

Re: The frenzied world of rare watches

#39

Watches are a good example of the fact that, past a certain point, the only thing you can really do with money is paying other people to do your hobbies for you. Like you could learn how to make mechanical watches yourself, but wait, no, why not pay someone else to take up that hobby for you. At the same time, if you actually like doing your own hobbies then money loses its utility pretty quickly.

In my experience hobbies are typically far more expensive than paying someone else to do it purely due to economies of scale.

Re: The frenzied world of rare watches

#40

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.

Mechanical watches are fun. You can buy something like an Invicta with a display back for $100 and see the moving parts as it runs. Sure you have to adjust the time, wind it etc. But that is part of the charm. Like a chunky, pre digital reminder of the past.

$100 is fine, I’ve spent more on beer in a night. I can see the charm in a $100 toy you wear on your wrist for fun. Thank you for your perspective.
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