Patekfinity
647
Bank vaults and/or residences
It is the sad nature of the collecting world where asset prices have been going up due to macro economic factors such as inflation and wealth effect. As a collector, I am fortunate to own residences not only in one country but several as well. In addition to different states as well in the US. Before Covid19, it was easy to travel from place to place and retrieve those vault/safe collections, but these 2 years have certainly been a factor limiting some of those pieces from being regularly worn. Fortunately, as Covid19 restrictions are slowly lifted and we are all able to travel freely…Now I will have more opportunities to wear watches that I have stored away! Looking forward to all re-openings!!
Things changed… bank locker for the first time…
In the past, many of those watches would travel with me and i never had an issue keeping the rest at home. Nowadays, things changed. Travel is back and i dont feel comfortable taking any of them… and i cant keep at home when i am not there… so after 14 ye...
Same same
First of all, thanks for mentioning this difficult topic which is sometimes forgotten/unvoiced. I have a much more modest collection, follow however the same approach here - with both a safe at home for a couple of watches (~1 roll) and the others at the ...
The plastic might do more harm than good
Nice collection you got by the way Then there are horror stories you dont want to think about so nothing is ever completly safe. www.nytimes.com
Incredible collection, by the way!
Let’s not take away from that. I tend to agree with the bank thing as well. In addition, the insurance bill for some of these things alone is now getting crazy. Someone said it starts to take some of the fun away and I agree. But then I can’t stop either....
I’m afraid this is the situation in most (and in more and more) areas of the world these days…keeping your watches in a bank is by far the safest solution. With very few exceptions at any given time, I keep all of mine in several banks in Italy.
For as long as access to your safe is easy, you can sleep well AND still regularly enjoy all of your timepieces by rotation😉👍Cheers.
What a dream collection with a nice spectrum...quite a few discontinued goodies too!
Yes, this move to bank safe is really essential...and like some said, banks only insured up to $1K USD or an embarrassing amount relative to this. You must check it occasionally and remain updated with your contact info, or they have the right to open it ...
This would take a large chunk of pleasure away from this passion
As for now, I manage just by insuring. If one day, I feel this is not possible anymore with reasonable safety, I‘d struggle to keep my higher value pieces. Maybe I‘d slim down to my 5513 and VC Overseas, keep 1-2 high end pieces in the safe, and sell off ...
I mirror the sentiments of this post…
Sadly if I genuinely felt the UK was so unsafe that I could not wear the watches I own then I would likely not continue to own them (or move country! Ha) I’ve never felt uncomfortable in many big cities; I just try to keep them covered with a shirt/sweats...
UAE?
Good decision, as I do the same. But, seeing your profile you are from the UAE - assuming you don't live there? As, UAE should be one of the safest places in the world?
Bank vaults and/or residences
It is the sad nature of the collecting world where asset prices have been going up due to macro economic factors such as inflation and wealth effect. As a collector, I am fortunate to own residences not only in one country but several as well. In addition...
Please read our Safe Deposit Box Advice!
I agree, this is an annoying time... Travel and having beautiful things doesn't mix well. Here's an article I published about safe deposit boxes. www.watchprosite.com
Assuming you live in the UAE...
Assuming you live in the UAE where residential crime is relatively low, another alternative would be to keep a small portion of your collection at home in a high security safe. Something over 1 tonne and with an Underwriters Laboratory TL-30 rating (tool ...
Thanks everyone for the responses…
It seems this is the situation everywhere so we have to live with and hope that one day it would change.