Your Rolex Watch is NOT an Asset. Let me explain…
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- čas přidán 8. 07. 2024
- Rolex, Patek Philippe, Audemars Piguet... Investment watches have gone FREAKING CRAZY. People buying watches as "investments"; talking about their time pieces like a day trader talks about stock; these kinds of people (in my humble opinion) are ruining watch collecting. It seems so against the very spirit of horology and it kinda just gives me the ick.
Watches are these gorgeous items - these items that are the intersection of art, history, fashion and engineering, and they only... You know... ATTEMPT TO MEASURE THE FOURTH DIMENSION. They are fantastic items! And yet there is a sizeable portion of the watch community that talks about them like... Stocks.
I honestly believe this is ruining watch collecting, creating a giant specultive asset bubble and stifling creativity and experimentation in an industry built upon creativity and experimentation.
Horology is dead. Well... Maybe that's a bit dramatic. ;) Ok, it's totally dramatic. I just hate these kinds of people and had to have a rant. - Zábava
The same thing has happened to the automotive industry, the real enthusiasts who actually want to drive their cars can't get a hold of them, instead they are allocated to people who store them in garages and let them "appreciate" as "assets" instead of driving them and using them the way they were designed to. In both cases you will find enthusiasts that actually appreciate horology, engineering and art and other people who just see the monetary value. I think this will always be the case, the key is to surround yourself with the right people and right communities that share your passion and appreciation for what watches really are.
Oh I feel like the automotive industry is ever worse! Absolute SHAME!
This problem should self correct after a nearly 2 decades of free wheeling economic policy. Money is going to become harder to get, and more expensive to borrow... and, finally - the money parked in this stuff is going to be liquidated. It WILL happen, just like every other asset when cost of cash goes up. It's already happening, and it is just the beginning.
Sort of. That’s not the reason dealerships markup a civic type r or a golf gti 20% over msrp. That’s just nobody doing shit to regulate industries from price gouging people. Like oil companies making record profits yet blaming inflation for rising prices. If that were true and prices were adjusted for inflation profits would remain the same.
Thankfully motorcycles aren't yippie friendly. As you can't just go ride on home to store like so overpriced automatic transmission resto mod or are viewed to be investments yet.... As for time prices I avoid "luxury watches" and my personal beliefs are that if a watch exceeds $2,000 you have diminishing returns on quality, cost of production etc.
Regular sport cars were never an investment, only rare top of the line models were. I think the current trend will bust soon
I don't ever begrudge someone for selling their watch. Nothing wrong with it, you have reasons. Full Stop. I WILL however, 100% judge you if you buy a watch SOLELY to flip and gain profits without even a small hint at the history and culture you're destroying. True collectors buy because of emotion. Thanks for your content Britt!
Britt, I think you're BY FAR the best storyteller in the watch space. I don't always agree with what you say, but I love how you say it, how you present it.
WHAAAT! Adrian barker is here???! 😱 and this is faaaaar too kind Adrian. Thank you soo so much.
…… But I am always right. 😜 (kidding of course!) can’t wait to see you soon!
That’s cause it was boring 😂
Yeah she is pretty good isn't she
Agree with Adrian. A while back, I said your channel was so good, it was time to mention it with the likes of ____ and I rattled off some popular channels. I ask now: is it time for these channels to be good enough to be mentioned with Britt Pearce?
Two of my favorite watch nerds in one place 💪
Thanks for putting this video out. Not enough other watch CZcamsrs talk enough about this. That's probably because the majority of them sell watches.
Long before the watch youtuber "boom" as I will call it, there was a small watch community - mostly around collecting and things of that nature. That was not long ago.
Then watches became part of a manipulated very selective "asset bubble" with so many other things.
I can't help but put out so many of the watch you tubers that have been nothing more than part of the pump, or been dragged along on it's coat tails. There are so many connections between the watch space and things like crypto, meme stocks, etc. IT's disgusting. I can only wait really with great anticipation for most of these channels to come crashing down.
@@JayandSarah that small community sucked though. TGV is a knob and everyone just beat up on Archie. the current batch are much nicer and more excited even if they're just salesmen in disguise.
@@JayandSarah amen.
@@ting280 there have been some great additions and benefits, it's not all negative, but in the space of watch youtubers - it is way past saturation and needs flushing out. It will happen. When people have much greater financial problems, dreaming about fancy watches will not be very important compared to food, housing and basics. The party is over for many.
@@roamy3605 Remember when _you_ were fun? I don’t.
I loved watches since I was a kid. I come from a family of pilots and ironically nobody wore the Rolex GMT or any GMT period.They wore pocket watches and my Dad wore a Submariner. I always hoped I would get my Dad’s Sub when he passed but my Mom gave it to my older brother who allowed some Joe Smo jeweler to sand the acrylic crystal and even switched the bracelet. I cringe when I see it and I understand the older son is the rightful owner but he wore Gold plated Citizen and really couldn’t care about what he had as long as it looked good from across the room. I love vintage pieces and the way they work. I’m shopping for a 1940’s 50’s gold bubble back,Rolex Oyster and a vintage Cartier Tank.I want to wear it and enjoy it and pass it down when my time comes to my son.
Oh this comment was just gorgeous! I love it!
Economist here (for those interesting in economic theory/concepts): imho the commoditisation of watches and other non traditional assets has more to do with the systemic failure of modern economies. We can assume that all forms of value are equivalent in economics, be that traditionally productive value or more abstract artistic or even sentimental value. For the past 10-15 years (arguably longer) economies have ignored capital requirements of long-term "real" value sectors (environmental sustainability, education, R&D, etc) in favour of industries that favour of capital allocation to industries with at best questionable long term value (fossil fuels, big tech, banks, etc) all turbocharged by over a decade of superlow interest rates.
The watch market, despite correction, clearly keeps outperforming stocks, bonds, crypto etc, which from an economic point of view is still mind-boggling (and a testament to just how inflated the rest of asset classes were). It just means that brands like Rolex, Patek, AP et al are more trusted than the ability of stock markets and governments to allocate capital efficiently 🤷♂️
Great video, I really like your content. Whenever I read someone posting in the forums and Facebook groups about which watch we all feel would be a great investment for them, I comment to call their financial advisor about their investments, buy the watch you love! I've been in forums and groups for years, and the last few years, they have devolved from chatting about watches, horology, opinions about brands, movements, intricacies about minute details on the dials and bezels to discussing how Rolex sucks because that person's AD won't sell them a watch, steering wheel pics and hyper flexing. It will come back down to earth at some point. There are still those of us out there that enjoy our watches and what's behind them over their worth, and how much we'll make on them in a few months. Keep up the great work!!
I consider this to be a special kind of video, along with the Tag Heuer Problem and The Rise and Fall of DW for example. The format, the style, the editing, the script and the overall quality is superb. Smart, entertaining, educative, they're so good! I hope you keep on giving us this format from time to time ❤
This has officially made my day! 😭💕💕
Yes -- the quality of some of your videos is amazing -- you are now one of my go-to watch tubers!!
Loved watches since I was a kid, and cars. I never wanted a Rolex. I never bought a car and saved it like my neighbor with vintage camaro on blocks in a garage. I bought a Porsche and drove it daily. I wear my watches every single day. I bought my watches because they interest me or they have some technical nuance or complication that I find fascinating. Buy what you like and enjoy it.
Unfortunately, I've seen this happened to nearly all of my hobbies over the last few decades. When the flippers (scalpers) get involved, they make it more and more difficult for actual enthusiasts to participate in a hobby without dropping ridiculous amounts of money. It feels sleazy, greedy and shallow. Most hobbies are already expensive without flippers driving up prices. When any hobby starts to become a financial exclusivity club full of douche bag day trader types, well, that's when that hobby becomes incredibly boring.
Yeah, I’ve had this happen with all mine too, and even normal stuff. Cars, motorcycles, denim, chef knives, USA made boots, Carhartt, acoustic and electric guitars, etc.
What a great video Britt. Spot on. CZcams and its many 'watch people' have both promoted and hammered home the asset and monetary side for the last few years. It has made watch collecting and wearing an obscene world for me.
And she doubles down! Oisin & Paul Thope is smashing their head on a wall right now 😂💀 luv it!!
Truth hurts 👀
@@Watch.HighTower Sure does 😊
😂🙈 I’m just trying to clarify! I know some will disagree. 🙈
A great conversation and interesting one. Time to get into vintage. There’s lots of under appreciated and outstanding timepieces there to be discovered. The craft of the watchmaker is really celebrated without being overshadowed by the marketing ploys and “hype”. I think you will also find passionate enthusiast and collectors there.
Sneakers reselling is doing the same in their world, making small gains by buying at retail and selling at higher prices, and some even make a career out of it. It's absolutely absurd that, whenever money ends up getting involved, that fun hobby becomes just another way to make some cash, losing its very soul
RIGHT()?! This is perfectly said!! “When a hobby becomes just another way of making cash” that’s when you know it’s all about to go a bit sh*t!
@ when there are people involved that are doing it for a profit, then these people take supply away from true enthusiasts.
Enthusiasts are then stuck with a tough choice… buy on the secondary market at inflated prices, thus perpetuating the problem, OR play AD games to get what they want at retail price.
So no, resellers do not stimulate shit, except higher prices for true enthusiasts.
@@BrittPearceWatches keep the good vibes coming! You rock!!
And to the resellers… if you’re not going to wear it, and plan to resell it for a profit, don’t buy it 😊
But it's the watch brands who have made it about money, not resellers. Have you seen how the watch brands have been raising their prices and profit margins over the past few years? That's part of why people obsess over the money in their watches because the companies have made owning a nice watch further and further out of reach for most people.
Great video; I think this sort of content blended into the more standard watch review/commentary really is a strength of your channel. Very grounded and authentic!
Oh this has made my day! Thank you! I’m glad you’re enjoying this style ✨
Tremendous video- I completely agree with your take on this topic. A little disoriented with the serious tone lol- but it fits with the subject matter very well. I liked the different shots and backgrounds as well... and then you came back a little at the end with the evil spell threat and the cute dog clip!
Britt, as always, keeping it real. I think the appropriate kudos is 'massive respect'. 😎 ( PS. feel better, stay healthy!)
I respectfully disagree, the fact that watches are now more popular for whatever reason is the best thing that has happened to the horological world in the last 50 years. I want to see how many new brands have been created in the last 10 years. There is now more investment in watch movements and technology than ever before and more brands competing with each other to offer best value for money. Gringa I can agree with you that Rolex and Patek are annoying but if you think that money is ruining the hobby you are wrong, if anything we are living a second horology golden age for the first time since the quartz crises. Enjoy it!!
I respectfully listen to your disagreement! 😜 and that gives me something to think about. I’m just a grumpy old man on the inside! 😜💕✨✨✨
Britt- you put a lot of thought (and time) into this piece, and it’s much appreciated. Asset bubbles appear throughout recorded history and include “assets” that we find laughable today. You nailed the cause of course-idle money, seeking a multiplier. Here’s to those who buy watches to wear and enjoy- and let’s hope the speculative class falls in love with some other shiny object soon!
Thank you for this timely commentary and really interesting historical context. The false promise of Watch investment is one of the worst things to happen to what still is a wonderful hobby.
I have never bought a watch with the intention to sell it later on... Hell, I've never sold a watch... I have given some away... Broken others...Some stay in the collection while others are planted like a seed and create a passion. The ones I buy however are things that I like and that seem interesting.
Loved the video, and the the editing was amazing!
Oh thank you so so much!
What great content Britt. Yes, independent watchmaking besides being the historical driver for real innovation, it's also keeping alive the joy of collecting for the sake/pleasure of collecting. We see it on a daily basis.
Thank you Britt for this impassioned critique of the commodification of watch collecting. This was expressed beautifully, and really captures the sentiments of a lot of us. It is not pretentious to bemoan what the financial class is doing to the world of horology. The investor class has relegated watch collecting to a money making enterprise, while making timepieces increasingly unattainable for those who love the art and craftsmanship of watchmaking. If they could monetize the emotion of love itself, to where it became the exclusive province of the wealthy, these rapacious people would do it.
Love this video format, Britt! Just yesterday I watched a Kevin O’Leary video where he was bragging about having to “mark to market” his watch collection each quarter for insurance purposes because he only buys pieces he believes will escalate in value. I wanted to gag. This is a wonderful hobby, watch collecting, yet some view it as an investment strategy. Where is the pure joy in that strategy? Thank you, and all my best.
Kevin O'Leary is a pompous ass and if Teddy knew what was good him, he would avoid this clown. This guy is on record that his employees should be working all that they can for him to show "they are dedicated". In other words, he wants people being his slaves while he collects all the money for himself.
Anyone that appears on an NBC reality show (I hate the network with a white-hot passion) should have their ethics questioned immediately.
Kevin O’Leary aka “Mr Wonderful” is everything that is wrong with the “hobby” - and puts them all on red straps!!! 😅
Oh gawd. I can’t stomach Kevin O’Leary! He really gets my goats!
You don't see the "pure joy" of turning a profit? Kevin does.
@@BrittPearceWatches he is a dial man with a colleczione
I mean, my GShock is going straight to the moon, thank you very much! Great video as usual Britt.
Great video. Informative and great delivery. One thing that I would add is that the way we value watches changes as we age. My eyesight was 20/20 at 18, but I like a big date now. Legibility counts for a lot, so I prefer German watches over busy styles like Christopher Ward. Keep up the good work, and enjoy the pleasure that comes with these works of great craftsmanship.
We have had historically low interest rates for a very long time. Partly because of covid and lockdown. That coused a lot of "assets" to go up in value: bitcoin, gold/silver coins, classic retro cars, and wrist watches...
The situation we have today was unthinkable in late '90s. But things are going back to normal now. The inflation is high, central banks are raising interest rates, interest rates on bonds are going up as well. So I would expect a lot of discounts on all of these Daytona watches soon :)
Watches are luxury consumer goods, they have always been that, and nothing more :)
Awesome episode Britt! Really appreciate the art style and presentation of this video - really suits your character! You did a great job getting more and more professional on your channel without getting too professional and therefore 'boring'. Keep it coming love!
Whaaaat! Thank you soo so much£ I really wanted to make something different! And I really didn’t know how this one would be received. But everyone has been super nice about it! 😱💕💕
I inherited a Longines from my Grandpa and it sparked an interest in collecting. I've noticed that when I purchase a more "luxury" brand I find myself not wanting to wear it. But when I buy a Seiko/Orient I will forget to even take it off. If anything I think money has ruined the fun of wearing those luxury brands in fear that you'll lose out money. I guess maybe I'm just not well off enough to not worry about it idk. But at this point I'm definitely enjoying my Seiko's/Orient's more than the Swiss brands, not for quality or something, just because of the inflated prices.
Exactly. The Swiss brands are inflating prices egregiously. From that all the things she talks about stem
I loved watches ever since I was like 5 years old. This was a time way before this hype culture back in the 90s. I love them for their aesthetics, beauty, and as an art form. Even if my watches where worth zero dollars tomorrow I would still love them. I got a range from Timex to Rolex. A lot of these grey market channels are just hammering into our brains to see them as stocks basically but I refuse to do that. So I completely agree with your point Britt. Great job!
Great video, from a production stand point and of course because of the valuable subject you are discussing. Keep up the great content!
Glad I finally viewed this. Agree with all, thank you for sharing this, Brittany. The thought of a Phillipe Dufour Simplicity in someone's safe for a decade or more to appreciate in $$$$, while a true enthusiast would wear, love, and cherish, and pass on to the younger enthusiast- is to me as appealing as chewing on tin foil.
You are absolutely right Gringa but I think now things are turning back … look the daily prices of Rolex sport models are dropping daily so I think people understood and we are definitely going back where we were 10 years ago
Let’s hope so 🤞🏽🤞🏽🤞🏽
Same with housing. Really kills me to see so many people struggling to get a secure roof over their heads while some people have 5. End it.
I live on U Tube, but I have never commented on a video, ever. I listened to every word of this video, twice. I have always loved watches, I have a small collection of affordable watches and they bring be great interest and joy. I just want to tell you that there are many (many) people out there that feel just the way you do. I just love you so much for putting it out there right on the mark.
Buy cheaper watches... its luxury watches that are over inflated in price and being killed by flippers being treated like a commodity.
Assets are anything you can liquidate into money. Cars are assets even though they depreciate in value, hence - depreciating assets. Therefore, watches are assets but they’re not investment.
This is true. But I don’t think this video was trying to explore if watches can fit into the literal definition of an asset. 😜 it’s about how viewing something as fantastic as a watch solely through the eyes of asset and investment is ruining the hobby. 🙈
@@BrittPearceWatches I just love watching your vids Britt! Assets or no assets 😃
I got chastised for bringing up the Geneva Seal on a watch forum recently ... it was a "Holy Trinity" thread .. the finish on the movement apparently doesn't matter, just the gray market price of the watch. I miss the days of Walt Odets and Timezone.
🤦🏻
Good video here. I agree with a lot of your points and especially the flex culture that’s been created around just the money. One potential exception to consider is that some ultra limited pieces (think FP Journe limited editions for example) probably deserve to get a secondary price over retail given the rarity and the fact that more won’t be made, etc. I agree that if I can’t, for example, get a mass manufactured watch like a Rolex at retail or less, I won’t pay more and will simply choose something else that meets the same need that I like such as an Omega, Tudor, Longines, etc.
"Art, engineering and history".
I see you've watched my lunar pilot video 😍
I have not! I have been saying this for years if you tune into some of my older videos. ;) But I just checked it out after seeing this comment! Love a Bulova!
Hey Britt! I’m writing this comment after watching a certain livestream and I just wanted to say - although I disagree with you on this topic, one should never
1. Attack your character over a harmless opinion
2. Disparage what you do for a living
3. Spread lies without doing due diligence
Please continue making videos and I hope you get an APRO soon (am eyeing one for myself as prices creep closer to retail). Cheers! 🎉
You know, there’s sometjing beautiful and awesome about respectfully disagreeing! We can disagree without attacking other peoples character and protected characteristics like faith.
I wish Oisin all the best. But I just… I really don’t align myself with the way he has handled this. 👎🏻
Thanks for respectfully disagreeing!
Nice video, learn a lot. I inherited a Universal chronograph from my grandfather, it was produced in the 50' and still working today. For great watch are amazing asset, not financial one, but emotional and familial ones.
I really appreciate this video. In light of its message, I can’t help but wonder if we’ll ever go back to those times when watch prices aren’t inflated by investing-minded buyers? Oh how I wish it be so. I feel I’m at a crossroads of my watch journey and I fear I may walk away from this beautiful hobby altogether if this bubble insanity isn’t corrected. Do other watch enthusiasts feel the same? I wonder…
Here you go Britt, both barrels! I agree with you. If you are passionate about horology and watch collecting, you can't help but to despise flippers. I also will not pay over MSRP for a watch as a matter of principal. Stay strong and keep up the good work.
Right?! I can’t bring myself to pay over MSRP!! I totally, totally understand why people do. But I just can’t bring myself to do it! 🙈
Great video Britt, all valid points and I totally agree. I hope all the retched "investors" and flippers would go away.
Great video, Britt. I can see you put an enourmous effort into it. Real bounce-back, recovery from the debacle in Paris. My hope for you (if its what you want) is some network sees your cool personality and hires you as a host or annoucer!
I hope this becomes your most successful and viral video ever, this needs to be heard!!!
This is such a great video! Great presentation as usual, Britt. 😁 I agree, I don't view watches as investment vehicles which is why I don't buy beyond what im willing to spend "expense" money on. There are so many beautiful watches out there that won't appreciate value and it's such a shame that these brands would get overlooked. What kind of (watch) world would we live in if it's only Rolex/Patek/AP (and other appreciating brands) that thrived?
If it were only Rolex, Patek, AP and other appreciating brands that thrived, there would be a lot of people without a watch and having no interest in watches...
Price appreciation of watches is not the problem. The problem is how certain watch brands manipulate supply and demand to drive up prices.
Every thing you see has a price ...even you look at one dollar or a hundred dollar bill it's just a piece of paper, it's being set for everyone to believe it's worth so much. Same with Rolex it's the US dollar in watch.. Seiko is the Japanese Yen. Patek is the US treasury bill. And Ming is the Chinese currency which is basically worthless
@@archiepoverty1789 Ming is a Malaysian brand. All your beloved Swiss watches are partly if not entirely made in Asia. By the way, the debt to GDP of the USA is over 120% while China’s is below 70%. Which currently is worthless then? Better wake up from your racist stupor and eat humble pie. The move from Archie luxury to Archie poverty is a good first step.
@@melanioma5499 sadly statistics have little correlation with reality . Watch what I say....Hong Kong dollars will be worth less than toilet papers... Just like Zimbabwean dollar which has less percentage debt to GDP than Ghana or Ethiopia
Watch flippers meet FTX, bitcoin and stocks that have a PE higher than Everest. All reach an equally sad, predictable end. Buy watches you like and want to wear. A safe deposit box is no place for a watch.
well said "we know our watch secondary value before we know its reference number " - THANK YOU . The CZcams is getting flooded with watch dealers and flippers making content and showing the playboy lifestyle .. Niko , Roman sharef have millions of followers and hours of content , they drown out the true watch enthusiast .Every one thinks its a get quick rich scheme ...
I thought you were speaking into your hairdryer :-) Great analysis Britt . I think we can all see now that post-2008 , the era of "free money" inflated the value of many asset classes conventional and alternative . Can any of us be sure what our stock portfolios and pension funds are really worth ? Luxury watches have always been expensive even at MSRP but the speculators took many of those grails out of our reach . Now that we're in a bust I think it'll be harder to re-inflate the bubble. I look forward to all the watches bought as casino chips gradually finding their way into the hands of collectors at prices collectors feel comfortable paying. Maybe that Royal Oak at retail is not so outrageous as it seemed at the start of 2022 ?
Bahahah. CMON 2023!! I want that APRO!
@@BrittPearceWatches what a video that would be! All day at the AP AD, no champagne left 🤣
We need move videos like this. You always tell it as is. It's good to hear other perspective on the state of this great hobby and the state it's in, which is not a good place because it can't continue this way for long or it will not be a hobby anymore.
@ for someone who seems to know the interpretation of a single word but can't cant understand to commentary is forgivable.
@ Hahahahah! The can't cant was there on purpose for you. My point exactly. You do see to understand single words very well but 2 or more may be kind of _________pick any single word. I know you can.
@ ok...hey I was just messing with you. Nothing ill here. I happen to be a fan of your videos and I personally think you King Turtle Video is one of the best.
Loved this video! The burn was so real I needed to put on sunscreen. Very nicely shots btw your house is gorgeous.
Bahaha, I just felt like I needed to clarify some things because I'm not sure if I communicated myself very well?! I still think I put all my thoughts here the best. I have so many thoughts still!
@@BrittPearceWatches very well communicated I thought. The level of polish in you videos has come so far too. What kind of lighting do you use for your videos these days?
Great video, Britt. I think the worst part of this trend is the increase in thefts we've been seeing for some time. How long before people are attacked while wearing a homage because the robber thought it was a luxury watch? I'm sure it's happened before and it's bound to increase. I also think there will be an increase in fakes geared towards aspiring investors, who will learn too late that they've been conned. Of course, we're also seeing companies releasing limited edition pieces. I'm sure a lot of people will be convinced that those limited edition watches will be good investments, and very few, if any, will be. It sucks to see the watch world here and I hope these trends will end soon.
Well said, it's sad what happened to this wonderful hobby, remember that time when you could enter any boutique or AD and could buy your desired timepiece? Now it's becoming ridiculous that even AP cut off their entire beautiful lines of watches like Joules Audemars and Milinary in favour of selling only Royal Oaks
@ we all know why demand is high, most of the demand end up sold at secondary market for cash not for horology
@@Ahmadb000 you are 100% correct.
@@Ahmadb000 That's not true, I don't think. Some brands reach for artificial scarcity. Globalization means more people want the same few goods. Only when demand outstrips supply can scalpers and secondary market flippers exist at all. They are a symptom of a problem the watch brands have produced...
@@fark69 That’s the other reason, the main reason began with the “hype” back on 2016, those few brands never ever dreamed getting this hype till this day. Who sparked this hype? that’s the question.
Simply great video. I am dealing highly collectible watches for 30 years, and you are right.
I love Wei Koh but you have to remember his whole business relies on pumping the market! However, watches ARE a type of asset - there are ways of gifting them to avoid inheritance tax and they are usually exempt from capital gains tax as they are classed as a “mechanical item” and a “wasting asset” in the UK.
Loved seeing Tim Horton’s and Yorkshire Tea in the same space Britt!
😜👍🏽
Ready! Aim! Fire!! Boem 💥
Well done Britt. This is what needed to be said.
We want the magic back! Horology forever ❤️😎🕘
Well said, It makes me sad to see a watch sold then put into a safe deposit box. Normally by someone who cares nothing for horology, just speculators.
I agree with you in this matter. I started collecting in 2010 when big Breitlings And Hublots were the rage. Seeing the financial world popping its on bubble, nothing is going to stop the watch market “asset bubble” from bursting. I’m not going to hold my breath to see steel Rolexes and the Royal Oaks crashing down to earth, but I am going to guarantee a bubble burst on all other models. Per instance I saw zenith Chrono master sports going above retail in the spring of 2022. Now I see the black dial version below $7k. It’s coming back to supply and demand. Since the world is battling inflation, the demand for these watches is crashing. We’re going to look back at this period of time as a time where people either got the watches of their dreams for a fraction of the cost at the peak of the market or lost a lot of money buying a watch.
I agree with you 100 percent. Only 2 kinds of people buy watches based on how much money they can make by selling them later on... 1) The kind of person who really doesn't love watches at all, and... 2) People who can't afford the watch they are buying. Watch collecting should be like falling in love... you see the watch and you just want it. You don't buy it to make a few bucks later on but rather because it makes you smile when you look at it.
By the way... your videos just keep getting better! 👍👍
Oh Mandy, I COULD NOT AGREE MORE WOTH EVERYTHING YOU SAID HERE!! 💕💕💕
so you're saying I shouldnt have sold my wife for £10k?
@@BrittPearceWatches 😊💜
@@WatchesOnWood Hmmmm... did you pay more than you sold her for...? 😉🤣😂
@@MandyLionRock broke even - should have sold before the dip
It's good to see that you're re addressing this topic while other channels avoid it for viewership. Honestly I like all watches, real, high end replicas, and recently started building my own to truly get back the joys that are being snatched
@Will Harris it's a watch. Ppl take it way to seriously. I man buy what u respect but again. It's a watch
Anything but replicas surely
@Will Harris if I were selling them. Not building them for my own joy
Great video, Britt! I appreciated the Tim’s coffee in the kitchen! Likely unopened…😂
It’s very refreshing to see a video like this and no doubt you’ll upset a few of the other watch CZcamsrs that bang the drum about price. I’ve actually stopped watching a few of them because all this about is what the watch is worth, now is the time to buy etc…. I’m currently in the market for my next watch and have been for well over 12 months because I just refuse to pay the over inflated grey market prices. Means that I go without but at least I’m not being ripped off.
I think you meant to say that watches are not investments, if you spend $50,000 on a watch it is most definitely an asset, appreciating or depreciating asset is the question. Keep the videos coming.
Great video. Scarcity has become the core business model of too many high end brands. Passionate watch collectors are being priced out of the market. Shouldn’t this matter?
YUPPPP! I have a whole nother video I want to do on this exact topic! But I don’t want to flood the world with rant videos like this lol!
Flood away Britt. Change has to start somewhere. Well done!
I think the scarcity is mainly due to resellers buying up select models for the purpose of profit.
It’s a convenient side benefit for the brands, but I think for most of them it’s not core to their strategy.
3-4 years ago it was relatively easy to acquire the models that are hard to get today. Supply did not reduce since then, demand from flippers went up.
@@zjmustard No it is core to the brands. Ever since Supreme proved this model's financial viability many luxury brands have gone this way. A limited edition that you will never be able to get for retail price after it sells out in 2-4 hours allows brands to jack the prices up, increase profit margins, and do less marketing (since people won't wait to see reviews before buying) and less QC (the value is in the scarcity not the quality).
Yes. It is a real problem when one decides what to buy based on which watch has the highest premium in the open market.
First video of yours I've watched- subscribed immediately! The creep of investment talk into watches disgusts me, glad to see more pushback against it.
Agree completely. My biggest gripe about Chrono24 is the feature in your watch collection that tracks the value and displays it like a stock ticker. Need to figure out how to shut that off.
@ Don't worry, I'm not. Regarding your analogy, I would equate it to a big garish flashing light on your stereo that tells you how much value it's lost since you bought it so that you can't just sit back and enjoy. Not sure why you're terrified that someone would just enjoy the aesthetics and function of their watches and not be concerned about the value.
Hey Pete! I really wouldn’t bother with Oisin. It sounds like you’re both quite different and I don’t think you’ll really change each others minds! 😂💕 I am of the opinion if O spent less time spreading negativity in my comment section & more time focusing on his content, all of watch fam would be a better place! 💕💕really enjoy his content! Just not the vibes he’s putting in my comment section full of genuinely lovely people! 😂🤷🏻♀️💕
@ for someone who spends so much time whinging about hating bullying; you sure love a spot o bullying. Nah, I’m not cool with you calling my community stupid. Say your piece then bugger off.
@ the bugger off was too strong. I regret that. I’m just pretty not ok with you calling really lovely people stupid. Just make content Oisin! Stop being so consumed and obsessed with my comment section! 😂💕💕💕 it’s not healthy or normal!
@ boy. You’ve got a high opinion of yourself. I really can’t reason with delusion. 💀 your obsession is a bit weird mate. Go outside! Get some fresh air! Make a friend! 💕💕 all the best Oisin. 😂👋🏻
Magnificent narrative and wonderful editing. Also, I couldn't agree more on the message. Kudos, Britt.
Oh thank you sooo MUXH! I just really wanted to try something new!
Depends on what definition you want to go with - Asset: "a useful or valuable quality, skill, or person" - Where do you draw the line? Art, Race Horses, Fine wine, all are for enjoying for what they are but are like it or not traded and invested in. Watches are not unique in this regard.
Sunday gringa: it’s part of my weekend routine
In accounting/Finance assets are things you own that you can sell for money. So, items that you own are in definition an assets, if it has any monetary value. Whether you gain or loss on the item is a different thing. I agree with you that you should buy what you like and can afford.
Yes! What I was hoping to try to say…. Which I don’t think I did. Is that yes, they fit the literal definition of asset! BUT I think it’s kinda sucky to view watches through this lens! …. Or how big this lens has become in the watch collecting community!
@@BrittPearceWatches spot on Britt, nobody (normal) sits at home checking their portfolio with the same doting smile that we have when rolling our wrists to check the time.
@@BrittPearceWatches they are an asset, but treating them like trading instruments like equities - will only end up one way. Bad. There is no real market exchange, there is a criminal element, there is money laundering, dishonesty, lack of liquidity. OH wait, it sounds like crypto currency trading. In fact, it is almost exactly the same except nobody has come up with a freaking watch trading exchange like crypto. That surprises me.
If you could short watches, you should.
@@WatchesOnWood I disagree. I look at my portfolio with a far greater smile. That is decades worth of structure, consistency and sticking to proven strategy to produce wealth beyond what "savings" would ever attain. And doing that through 30 years of investment timeline. The andex chart for investors I was shown at 18 in the early 1990's did not lie and I gained so much financial freedom that I could buy things like expensive watches without even caring. Without even considering $100,000 worth of watches as part of personal financial statement. That is how insignificant they have become to me. They are milestone event items.
@@BrittPearceWatches I agree with you on your point of view and through the lens, but that does not change the fact that watches are assets (could be a Hublot you buy at retail and you walk out from the store and losses xx% when you sell it.) That watch is still an asset since it has a monetary value.
Another well made film Britt ,I think there is a massive difference between trading watches like a commodity which has only been a fad over the last couple of years, its the same as all the hype around crypto trading that is fast diminishing from mainstream interest as all the frauds in the space now appear. But if you give a value to a watch then it's an asset ? regardless of price paid, which is why you insure your assets.
@ blimey, you’ve replied to more comments than me 💀😂 go watch the football or something!
Very great thoughts here! This is actually really great food for thought! 😱💕
Great video, and I loved the posh outfit! I have seen those Grey Market videos, those guys have no soul for watches, they aggressively buy and flip watches like the day traders you mentioned. Will I ever become a collector of the classics, unlikely, as it is out of my budget now, but one day I might buy just one.
You nailed it! Thank you for defending horology and this awesome hobby of ours! It’s disappointing to know that I cannot even save up my hard-earned money to one day buy my grail watch because the value has doubled or tripled over its original MSRP even used. Hopefully the recession will cool it off a bit and those “investors” (not collectors IMO) will move on to the next shiny object for their unquenchable thirst for the evil that is money and power. I long for the days of sharing a hobby with other passionate people without having to talk money/value.
Right on the mark Britt, couldn’t agree with you more.
💕💕 ahhh thank you so much!
There are watch collectors, watch enthusiasts, and then there are flippers/traders. It is the latter who speak of watches as assets. Enjoyed the video.
Ah Brit, there’s a difference between an asset and a wise investment; anything with significant enough value that can tender for debts or other commitments is an asset. Watches aren’t necessarily good investments as a general rule, but certain watches are indeed assets. I do agree with your general sentiment regarding the hobby (with some caveats), but the video title is categorically wrong in saying _some_ watches don’t qualify as assets. As far as investments go, if you buy and sell at the right time, then yes they can be decent investments, as with anything else. Though they weren’t intended to be, some artwork are investments. Same with wine. Everything ebbs and flows and the current economic downturn is affecting everything, not just watches. Continuing to confuse these betrays a serious lack of knowledge about them.
Nice and I agree! Unfortunately, I think there's too many people have a vested interest in perpetuating the elevated values and/or have a lot to lose if it goes back to pre-pandemic levels.
Great video but I do think we are from 2 different worlds as I’m 99% vintage and I believe you are talking mainly about modern watches.
This is something I do totally agree with as the flippers within modern horology do kill it. It’s the same within the sneaker world. Don’t get me wrong this does exist within vintage but I would still say that when it comes to vintage they can still be classed as an asset as the rarity of certain models are much much more greater than modern logically.
On my channel I’m pretty much a strictly vintage, and as a watchmaker can fully appreciate them down to the hidden details under the hood so to speak.
I’d love you to get into more vintage if I’m honest 💪🏻💪🏻
Ahhh I am dying to get into vintage! I’ve been having this problem as of late, that keeps getting in the way of everything I want to do….. “lack of funds” 😂😜💕💕 but I’m looking more into neo vintage 90’s numbers!
Well said, your true passion for the interest we share is both palpable & infectious. Glad to see you’re on the mend too Gringles & I’m sure that Jenni Elle will appreciate you saying “Timepieces” … 😊👏🏻👏🏻👏🏻👍🏻
BAHAHA I love saying timepieces! It makes me feel fancy! 😜 but I think it’s the best word to describe these fantastic time keeping instruments!
Last week I met a guy with a gold Daytona, a dirty sweatshirt, joggers, and Yeezys. It's trying to buy class without actually looking or behaving the part.
Did we meet last week? 👀
Give the guy some respect, he was actually wearing his watch.
Thanks for this, it needed to be done. All of the top tier watchmakers with their over the top insane prices, is what has given rise to replicas, and that makes me laugh in hopes of bringing their prices down to something somewhat more reasonable. It is of my opinion, that there is not a single top-tier watch that is even close to being worth what they ask.
You have no clue of mrsp and rrp then??
@@Mpayne1472 wrong, I do, quite keenly. Do you think any PP is worth $500,000USD?
This is right on the facts! Nothing more, nothing less. Absolute class video, watch collecting is ruined and that's why I slowly started depreciating watch brands and some 'collectors'
I liked this rant a lot. I agree with a lot of what you said. Some points were not very strong, but overall I think you hit the nail on the head. Unfortunately we are both only viewing this from the point of view of a watch enthusiast. I love your channel! 😊
You can almost track a lot of this to Hodinkee starting and mainstreaming the notion of watch collecting and that watches could be an investment vehicle. As that hype built so did prices for luxury goods. I am so tired of watches being about grey market spivs who only seem to interested in how much over retail they can sell things for. I genuinely think as things economically look choppier there will be a return to vintage and flashy not being a good look. Markets also being flooded with hoarded stock as people liquidate assets.
Watches should be a thing of joy and luxury, not a pension plan.
say it like it is girl...I will stick with my common stocks as investments and in a world where everyone and everything can be bought and sold... I will just enjoy my watches as art no matter what it's value is.
Can we get an amen?! I couldn’t agree more!
To me watches are mechanical jewelry for those fortunate enough to buy them. The “Big Scam” is when people convince others that spending tens of thousands of dollars 💵 on a watch is a smart investment. The world 🌎 has been flush with money for some time now but that’ll probably change soon. Dutch tulips 🌷 come to mind 😎!
Best part of video is definitely the last. There is still whole lot of ingenuity and creative drive. Over the last years we've seen so much innovation and I can't wait to see what will come next.
Well done Britt! Great editing 👌. Couldn't agree more on the subject
I'm surprised how much this reminds me of the comic book bubble in the 90's. The publishers would print a 1,000,000 issues when there were only a few hundred thousand actual readers because of the speculative buying. When the bubble popped it almost killed that industry.
Good analogy, because the actual market size without all the current speculation buying is what will likely be reality in a year or two after a recession, no crypto profits, and a slowing China economy. Some people will be shocked to see the secondary market prices collapse.
great video essay! watch-collecting CZcams definitely needs more of these kinds of videos. it actually feels like something ben from ben's watch club would do haha
Amen, Britt! I agree 1000 percent. The same ugly greed infected the classic car hobby, pricing many of those who love the old classics out of the hobby. A real shame.
Good on you for bringing this debate, Britt. I rather enjoyed the rant. However, there’s more going on here beyond the headline, of course.
I’m not buying watches as investments, but this isn’t about me.
That said, I suspect there are many who ARE a bit like me, so in context:
As a young man, I bought and wore only one watch for the best part of two decades: my Rolex GMT Master II. I bought it because I loved the way it looked and because of the associated status. For me, it symbolised progression and a certain level of attainment. Beyond that, I honestly didn’t understand why anyone would want (or think they needed) more than one watch.
I had never heard of a “one watch collection”, in spite of having one. I didn’t appreciate many of the nuances with watches and frankly, I never considered that my watch might be appreciating in value. Nor did that matter, or ever factor into my thinking at the time. I bought my watch to wear it. And I never contemplated selling it either. I love(d) my timepiece and because it was so versatile it didn’t ever leave my wrist. Job done ✅
As I have matured and got on in life, I have been fortunate to be able to afford nicer things. My tastes have also changed over time and I have learned to appreciate some of the finer things, timepieces being one of them.
And along the way, I got well and truly bitten by the watch bug. Now, as an enthusiast (I don’t consider myself a collector, although by definition I have one) with four sons to pass my watches on to, I continue to only buy what I love (like taste buds, that seems to change over time).
So whilst I’m still not buying watches as investments per se - NB I have never sold a watch, nor do I plan to - it would nevertheless be odd for me and also disingenuous to suggest that I don’t give thought to the likely post purchase value of what I’m buying, especially given the prices of some of the watches I have bought.
The price I pay absolutely factors into whether and how quickly I make a purchase. For example, it was an easy decision to buy my G Shock for $99. But at over £60K my Zeitwerk was a far more involved decision making process. And yes, whether the watch likely appreciates or depreciates in value becomes an increasingly important factor to me, as the purchase price increases. To insist otherwise, erroneously assumes that if you have enough money, you stop asking “how much ?”
At least, that’s never been my personal experience. I always want to know how much. I don’t believe I have ever found myself not asking this question when making a purchase of any kind, be it a watch, a car, a property or whatever.
So, I do understand and appreciate your point of view, Britt. And I agree with many of the points you make; for example, I agree with your assertion that watch brands are incentivised to make more of what sells well and by definition, less of what might not, which stifles innovation and so on.
However, the point I’m trying to make is that, like so many things in life, this isn’t a binary scenario.
I’m not an investment purchaser, but I still recognise value, just not as the primary driver. Nevertheless, the value / investment element is still there.
And I suspect it is probably similar for you too.
Don’t you feel reassured that certain watches you own might retain their value ?
If their value were to immediately fall to being at or near zero post purchase, would you still own them ? Would you still love them in the same way ?
I think this quote says a lot:
“If beauty is in the eye of the beholder, then value is in the perception of the purchaser.”
But even if you don’t agree that we might have similar motivations, it’s fine for others who have investment value as a pre-determinant as to what watches they then buy to feel that way, isn’t it ?
Each to their own. And we are not all the same.
There are many shades of grey and besides, in certain situations, it all depends really.
So thanks for the rant and the drama. Whilst I don’t agree with you entirely, as far as I’m concerned that’s ok too because it sparks discussion and debate. And I welcome that. 🙏
Hey! Respectful disagreement is always welcome here!! 😜💕💕💕 I love it! And some great pushback!
I was being a bit hyperbolic really! 😂🙈 and just having a rant! You are absolutely right in a lot of what you say. I gotta remember that more: TO EACH THEIR OWN! 💕
Quartz watches and mobile phones ended the need for mechanical timekeeping a while ago, and mechanical wristwatches are mainly jewelry nowadays. Yet, innovation is still happening, such as Seiko's Spring Drive or Accutron's electrostatic movement.
Sooo well said!!
I’m probably the only person who doesn’t understand how a phone negates the need for a wrist watch. It seems one of the original reasons for a wrist watch came about because Alberto Santos Dumont didn’t want to have to pullout a pocket watch. People came to realize how much easier it is to glance at a wrist rather than dig into your pocket. To me it’s the same with a phone. Sure I have it with me but it’s in my pocket. My wife’s is deep inside her purse most of the time. Just my opinion.
Yes back in the late 70s with Japan's quartz revolution that almost bankrupted the Swiss watch industry. Today's generation doesn't even wear timepieces. They use the equivalent of the old school pocket watch smart phones and or smart watches computers for the wrist. I don't buy timepieces for their incredible accuracy. I buy them for their movements and artistic design.
Great video and totally agree. The subject matter is a little serious though. For Christmas can we have a drunk Britt messaging other you tubers. Oh simpler times but good times. 😂
LOL! You know! This is exactly what I’m working on!!! I was going to do a drunk analysis of my favourite watches I reviewed this year!
@@BrittPearceWatches did Ben Clymer ever reply? 😂
@@time_to_lume232 not yet.:.. 😜 but to be fair, he hasn’t opened it yet either! Almost feels like….. he doesn’t know I exist and he doesn’t care….. 😜😂💕💕
👏👏👏