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Bill's post critically examines a New York Times article that equates watches with Bitcoin as an investment, challenging the notion that luxury watch collecting is primarily about financial gain. This discussion delves into the core motivations of collectors, the impact of media narratives, and the evolving landscape of the watch market.

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it is a really sad way to look at the virtues of watch collecting and align it with investment. We have had this discussion many times in private and we have a general consensus that to some it is an investment wstch dealer etc. But the majority of collectors we can agree collect out of passion and love of horology.

But with main stream media postulating such a position you can only speculate that we as collectors will inevitably be accused of being in it for tye money.

I wish that the NY Times fid not draw such a parallel with such a speculative product like bitcoin. In the same sentence demonize the whole hobby.

Watches Are Yet Another Easy Way Rich People Make Their Money Into More Money

Bill · 2019-03-21T08:34:05Z

NYT compares watches to Bitcoin. Collectors debate investment vs. passion, market trends, and social media's impact on luxury watch collecting.

The high-end watch market is a strong investment vehicle for wealthy people.

https://www.google.com/amp/s/www.nytimes.com/2019/03/20/style/collectible-watches.amp.html

The best line in the article which redeemed things for me was a wuote by Mr. Khoo “ investors are not collectors and collectors are not investors”. Good to hear Eric.

Key Points from the Discussion

The comparison of watches to Bitcoin is seen as awkward, with some arguing that watches became a speculative asset long before Bitcoin, suggesting 'Bitcoin are the new watches.'
The rise of watch blogs and social media influencers since the early 2000s has transformed watch collecting from an 'insider's only club' into a viral phenomenon, increasing public awareness and potentially investment interest.
Many collectors are driven by the 'story' behind a piece, personal connection, and shared passion within the community, rather than financial returns.
The hobby has shifted from a private passion to one often associated with ostentatious displays of wealth, fueled by social media and an industry focused on marketing noticeable watches.
While collectors acknowledge and appreciate value retention, the 'institutionalization of watch buying as an investment class devoid of any appreciation of the watches' is a concerning trend.
The investment-driven interest is largely confined to specific segments like vintage Rolex, Patek Nautilus, and some AP models, not the vast majority of brands or independents.
A core principle for many collectors remains buying only what they like, despite the growing trend of viewing watches as investments.
The Bitcoin analogy implies that those who view watch collecting solely as an investment strategy are the ones who stand to lose, while true collectors enjoy the watches regardless of future returns.

The Discussion

AuHavrePro

Mar 21, 2019

Generalizations....

Fail miserably many more times than not. I like that quote of course, I became an active member here precisely because it was crystal clear the vast majority of participants were in it for the right reasons. If I wanted to become an investment banker I could have easily done so. Cheers, Filip

amanico

Mar 21, 2019

Well known topic, indeed.

This universe of ours has become crazy, more and more crazy. I have only one rule, here, and I stick to it: I only buy what I like. But I cannot ignore that there are more and more people who consider watches as an investment. Best, Nicolas

FabR

Mar 21, 2019

Thanks for sharing, Bill... The NYT seems to be all over it these days, here's another piece they wrote yesterday about the Nautilus:

To be entirely honest, personally if I see "watches are the new bitcoin" in a NYT title, what I automatically think before even getting to the article is "watches are NOT the new bitcoin".... but I'm certainly not their model reader, so I do understand your general concerns. On the other hand, so many people are doing a great job on this site, perhaps more than anywhere else, that is spreading and promoting a true passion for our hobby. I'm sure people are noticing this too ;-) Cheers.

vitalsigns

Mar 21, 2019

Bad turn of events over the last 10+ years

The hobby, if you can call it that now, has for many become all about ostentation...the age of look-at-me Instagram posts. The age of maximum appreciation of the most noticeable watches. This hobby used to be totally under the radar--something I loved about it...only a fellow enthusiast would appreciate a watch one's wearing (save mostly for Rolex, which was always very visible since the late 70s or 80s, but not to today's extreme extent).. It was, for me, a very private passion. Now many of the

amanico

Mar 21, 2019

Don't despair, John... There are still many watches out of the beaten paths which are worth some interest. And some great brands which make great watches. It is all good for us...

Since the investors, flippers, whatever you want, are on other references and brands. Keep the faith, and buy what you like! Best, Nicolas

vitalsigns

Mar 21, 2019

Absolutely...and this website is very much a refuge from all that nonsense I mentioned...

Makes me very thankful that we have the enthusiasts we have. Cheers, John

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Watches as Investment: NYT vs. Collectors

Watches Are Yet Another Easy Way Rich People Make Their Money Into More Money

Key Points from the Discussion

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