Watches?

Now that Kevin O’Leary has pumped luxury watches as investments for years on YouTube, they’re skyrocketing in price across the board. Even Rolex Datejusts, once able to be found in AD cases everywhere, are exceedingly rare and go for around $10k on the grey market. What’s your favorite watch brand and model, and how do you think luxury watches are perceived by peers in IB and PE? Has the perception evolved over the past several years, and in what ways?

 

what are more senior professionals wearing? 

I guess the short answer is 'whatever they want', which includes all manner of Rolexes.  At most banks I've seen, watches aren't some kind of insider requirement anymore.  But for people into watches, they'd probably be more inclined to the Patek/Vacheron/Lange or if they're super discerning, something more boutique-y like an FP Journe / H Moser / Bovet.  The same applies for the entry-level, there are probably that are watches in terms of craftsmanship that are well beyond a Rolex Sub for the same price (Grand Seiko) but lack that mainstream recognition.  It all comes down to what your purpose for buying a watch is. 

 

I'm two levels down from MD and I wear the same watch he wears, a Rolex Daytona. Yes, I get it, there's plenty of Rolex haters out there and some of that is deserved. But the Daytona speaks for itself - anyone that sees it knows that it's not an "entry level" watch like a Sub would say. You show a Daytona to anyone - watch aficionado or not - and they instantly know that it's an expensive watch. 

 

Actually no! Rolex was the first watch to be successfully used in deep water diving and were the first to make waterproof watches. Hence why the submariner watch is their "gold standard." It's a lot like why Omega sells out their speedmasters, because they're the first watch to be used in space and on the moon.

 

grieze

Actually no! Rolex was the first watch to be successfully used in deep water diving and were the first to make waterproof watches. Hence why the submariner watch is their "gold standard." It's a lot like why Omega sells out their speedmasters, because they're the first watch to be used in space and on the moon.

Yes, Rolex is a tool watch, and that's what its heritage is.  That's very different than what ALS, Vacheron, Patek is.   The price of a Rolex sub has increased massively from what it used to be priced at mostly because of savvy marketing and it becoming an iconic consumer good,  although they have refined the construction and materials. 

https://www.bobswatches.com/rolex-blog/history-of-time/rolex-submariner…

It's a fantastic tool watch, there's nobody can deny that.   Rolex's quality control and durability is peerless.  It's just bought more by people who are into the image and not into horology because they don't really give you much for your money in terms of what watch enthusiasts are into. 

 

You should get on a waiting list now. That one is damn near impossible to find at retail. 

 

I have a Datejust but I’m looking trade in to buy a Day Date. I bought it over 5 years ago but with the latest market appreciation, I can sell it for the same price I bought it for.  Excited to “upgrade” though I probably wouldn’t wear the Day Date to work unless if I was a Senior VP or Director. It’s more of a weekend or lifestyle watch (to me)

Rolex prices have gone up quite a bit in the last year. I’d say it’s a combination of low supply and Rolex increasing the retail prices.  People who bought in the last 3-4 years have seen their prices appreciate a good amount. Buyers on the sidelines who generally were waiting for “that special occasion” to buy their luxury watch are probably looking to buy ASAP to avoid paying 7-10% more for the same watch 2-3 years from now

 

It's probably because the day-date is a solid gold watch. Most other Rolexes you can get in SS or something else that is more dressed down. But a day-date basically only comes in precious metals and that's not something just anyone can wear. 

 

Watch fan here. I would say everything depends on your taste and budget. Some like to go for the new expensive (big) watches, while some prefer to go for less known vintage models. The thing is, you never know how people perceive a first year analyst wearing a golden day-date..

I, myself, like to go vintage because models tend to be more ‘rare’ and aren’t necessarily more expensive. I own a Tudor Prince 74000N ranger dial, as well as an Omega seamaster ref. 166.067, which are ‘relatively’ inexpensive watches, but I’m sure I’m not gonna bounce into someone with that same watch any time soon :-)

 

I was searching for the Casio comment (had to be somewhere!)

Do you have any information if your watch choice has affected you negatively? I love my casios but am kinda afraid that when I start working my boss will ask my why I wear "childrens watches" (happend in an internship once ._.). Will probably wear them anyways, I'm just a tad curious.

 

Looking to get a smooth bezel DJ41, is that too much for an incoming associate, ASO? Don't want to rub off on the team the wrong way... 

 

Definitely not. Also think the smooth bezel if definitely the way to go VS the fluted bezel. Fluted bezel is far too flashy and unnecessary, especially on the 41mm model. I will add the caveat and say that the fluted bezel on a 36mm vintage DJ does look amazing.

Array
 

Bvlgari, specifically from around a decade ago. Their new models look terrible but I have a few from about 10+ years ago and I absolutely love them. Have withstood daily abuses, even outdoors on hunting trips, horseback riding, etc. My favorite model is the Diagono Retrograde, the "Iron Man" watch which Tony Stark had in the first movie. Stupidly I passed on one earlier this year that was heavily discounted right when COVID tumbled markets. Now the price is back up.

Sadly, I think luxury watches will be consistently beaten into an ever-shrinking niche market, more so than they already are, much like suits, wet shaving, fountain pens, etc. (yes, I'm that old school). 

 

Honestly, nobody gives a damn about what watch you wear. If you like Rolex, go for it. If you want to use an Apple watch, great. 

Personally, I find Rolex's value retention / appreciation very attractive. Gives me the flexibility of buying a watch, enjoying it for some time, then selling it for another one, all the while roughly preserving the initial principal I put into it. You get to experience different pieces without losing money in the process. 

Would be wonderful if I could do this with new cars as well. 

 

Assuming you can even get one, I don't think it's much at all. No watch is "too much" if we wear it with the right attitude, the right persona, the right outfit. If you have the confidence to match then you can wear anything you want. 

 

what's everyone's take on buying used vs retail? can't imagine you'd be able to tell the difference, it's more affordable (?) and the only thing would be your perception of the watch having been on a previous hand

 

It’s more commonplace now that used / grey market watches are more expensive than retail, i.e. AP Royal Oak, Rolex Batman, Rolex Daytona. The reason for this is because if you buy retail you’ll usually be placed on a waitlist, which could be anywhere from 3 months to 8 years for one of these pieces. Grey market watches go for a premium due to cutting down on wait time. Deposits usually aren’t required, so the main thing you’re buying is time. Badly worn or damaged watches will be lower in price, but that’s obvious.

 

Movado is a mall watch - it is overmarketed to the suburban/ex-urban mall-going proletariat and is vastly overpriced. Movado watches don't hold their value and are easy to find. The opinion among the watch crowd is that they are low-quality and really flashy (in a trashy way). I would also group Shinola watches in here as the same category which is a shame because I like the brand otherwise. 

To put it bluntly, it screams "I have some money but don't really know anything about watches".

 

hwadeann

To put it bluntly, it screams "I have some money but don't really know anything about watches".

Haha, that’s what folks say about Rolex.

What you’re saying may be true, I’ve never heard it before. My Movado is $900, and the farthest thing from “trashy/flashy”. It doesn’t even say Movado anywhere, no diamonds/gems, and leather strap instead of a bracelet or something. I get complements on it and people have told me it looks simple yet elegant. Pretty versatile since I can wear everyday or for events. Not a big deal if I get robbed or something either. 

To each their own I guess.

 

Maybe I am naive, in my opinion work in a Bank/Fund is a social elevator. Importance of expensive watches is just old ritual. What do you think this fashion trend is still actual in more introvert divisions (Equity Research, Trading)?

Courses, books are not so cheap. Is it truth that I need to pay for expensive watches that I do not need (I always may check the time on my computer). What if I do not plan to impress clients with my watches, Citizen or Casio will be enough?

 

Hello Forum,

yesterday I had an interesting discussion with a friend (who is very interested in watches)...starting with my thoughts about which watch(es) I would like to buy next, he came to the topic: which watch fits ME?

I find it very interesting to hear opinions and suggestions...I don't have that many watches yet and I'm always looking for something...I'll probably end up with 15 watches and never find an exit watch (I don't believe in it, but my tastes change quite often I guess :D).

These are the watches that I already own:

HAMILTON Khaki Pioneer (my first automatic about 6 years ago, Team Earth Harrison model, 3 hands, not the chrono with black dial… it has already been through a lot and runs and runs...that watch really impresses me...scratches have accumulated...you notice that I don't take care of the watch and that it is worn when something could "happen"...this position in the collection is therefore "occupied

MIDO Ocean Star Captain (the one made of titanium, black ZB and titanium bezel….the swimming pool, garden hose and beach watch

These are the two watches that I like the most.

For my part, the following were considered - and the model should rather be one "for every occasion":

IWC Ingenieur (I like almost all models)

Omega Speedmaster Professional Moonwatch

Omega Speedmaster '57

Breitling Navitimer 01

Sinn 903

Maybe someone knows these manufacturers and can tell me a little about them?

Thanks already!

 

Love the Sinn watches. If you work in Frankfurt it's a nice way to show "local support" I think! 

After I graduate here I'd love to get a Sinn 910 or one of the "Finanzplatzuhren". Only problem is that currently I'm just a poor working student lol.

 

It’s true. Sadly mot many people care anymore. I see more investment banking MDs wearing Apple Watch than a Rolex or a Patek. Also having owned a Patek and a few Rolexes, you pretty much never get any comments on a Patek unless you’re surrounded by watch aficionados.

All in all, there are better ways to flex (like maybe a better suit?), if that’s your goal.

 

Yes, Tudor is only going up in my opinion. They’re owned by Rolex and have recently stated to differentiate themselves and become their “own company.” As Rolex continues to outprice people from the market, Tudor will likely become the substitute; this is already being evidenced by increasing prices. Would say the hottest pieces will be the Pelagos and BB GMT. The Blue BB58 does seem to be a favorite already, too.

 

Recently bought the 2019 Omega Apollo 11 50th Anniversary Speedmaster - set me back about £10k (which, I understand, is a relatively good price). Seen it touted elsewhere for between £11k-13k. Original RRP was c. £8k. While I definitely bought it more because I liked the watch than as an investment piece (I certainly intend to wear it frequently, despite the look of horror a number of Omega collectors have given me), it's reassuring to know there's a solid market for it out there.

In 2021, I expect to see the 50th anniversary Rolex Explorer II drop. This fits with Rolex's trend of releasing special 50th anniversary editions of their various models (bar the Explorer I) and could well prove a solid investment opp - I know Rolex has been trying to support their Explorer line more actively the past few years. 

"Work is the curse of the drinking classes" - Oscar Wilde
 

Yeah, agree that a 42mm is gonna be difficult to wear "subtly" - the aforementioned Omega is 42mm, and so the largest watch I own. Yet to get the bracelet fitted or wear it into the office, but will definitely give it a go. 

"Work is the curse of the drinking classes" - Oscar Wilde
 

This will not be a popular comment, but I'll contribute my perspective. I don't wear a watch. I've gone through a couple apple watches, but I keep losing them. One fell off cliff jumping. The thought of carrying around 20k on my wrist is terrifying. I also don't really think rolexes look cool. I feel like whenever I see someone wearing one, if they are an analyst or associate, I think you probably grew up in CT and got that for graduation. It's just a little basic. Kind of like driving a BMW or going to vacation on the Greek Islands. I don't see a rolex and think, "oh this person has good taste." In fact, it makes me think oh this person just wants to fit in. 

 

You can buy a “good” watch for a few hundred dollars. No need to spend $20k. Many of the watches people are mentioning here are <$1k. Many others mentioned are in the low thousands. 
 

Rolexes are not meant to be super flashy. They are valued by enthusiasts because they are timeless (I do not own a Rolex btw). The Perpetual Datejust is a classic dress watch. The Submariner is a classic diver watch. The Daytona is a classic chronograph. The ones made last month look about the same as the ones made decades ago. This is pretty remarkable and you can’t say the same about most other products / brands. 
 

The datejust can be had for ~$5k btw. If I were to buy a Rolex, I would buy the 36mm version of this with a white dial. Take look at google if you want. It isn’t some ambitious design, and that is the point. It’s a classic look that you can wear for the rest of your life. 

 

I'm a fan of Omega and have a seamaster myself (yes one from a Bond movie) which I've wanted for ages. I've never had an itch for Rolex though there are definitely multiple arguments to be made as to why one should get one. However, most of those arguments from finance dudes tend to be the prestige or wow factor - which I don't think is a valid reason to buy that watch. 

Dream watch is still a basic AP Royal Oak with the graphite face but that is still a few years away (or more).

Get a watch which speaks to you and which you love. Do your research on the brands and price ranges and make sure that you fall in love with whatever you get set on buying. So if you love something out of price range at present, strongly consider saving for that watch instead of receiving that instant gratification and settling for something you're just eh about.

Start by looking at brands, price, dials, material, band-type, movement etc.

 

I don't see how you can "invest" in luxury material goods. Their value (beyond list price and depreciation) is mostly based on hype and fickle consumer whims. Buy a watch cause you love it for what it means to you and not for speculation.

 

Anybody else absolutely in love with the Grand Seiko SBGA 413 (Four Season’s Collection: Spring)?

By God’s Glorious Tits, that dial is gorgeous. Im only a sophomore entering the recruiting process, but if I’m lucky enough to break into the industry I’d definitely put away part of my bonus towards it my first and second year.

 

Grand Seiko's dials are amazing and the finishing is immaculate. That cherry blossom dial is gorgeous. I've always heard it said "if you want to impress others you buy a Rolex, if you want to impress yourself you buy a GS"

 

I like my Swarovski Journey watch. Lots of bling, made in Switzerland but not overly expensive. I had the gold band changed to a black leather band to be less blingy. Note I am female and this is a womans watch

 

Recently splurged and bought a JLC reverso that I'm quite happy with. Can dress it up or down on a black or brown strap. I like that it flies under the radar and people won't notice it.

Thought about buying a Rolex at one point but don't care for the brand / marketing -- seems to appeal too strongly to people who want something that people will notice, which is a shame as I really like the new 36mm Explorer.

Also have a ~50 year old Omega Seamaster that belonged to my grandfather which I wear with a grosgrain strap.

 
Hayek

Recently splurged and bought a JLC reverso that I'm quite happy with. Can dress it up or down on a black or brown strap. I like that it flies under the radar and people won't notice it.

Thought about buying a Rolex at one point but don't care for the brand / marketing -- seems to appeal too strongly to people who want something that people will notice, which is a shame as I really like the new 36mm Explorer.

Also have a ~50 year old Omega Seamaster that belonged to my grandfather which I wear with a grosgrain strap.

Love the reverso. Did you buy from an AD or go grey market?

 
JonnyDrama

Hayek

Recently splurged and bought a JLC reverso that I'm quite happy with. Can dress it up or down on a black or brown strap. I like that it flies under the radar and people won't notice it.

Thought about buying a Rolex at one point but don't care for the brand / marketing -- seems to appeal too strongly to people who want something that people will notice, which is a shame as I really like the new 36mm Explorer.

Also have a ~50 year old Omega Seamaster that belonged to my grandfather which I wear with a grosgrain strap.

Love the reverso. Did you buy from an AD or go grey market?

I bought it directly from a local jewelry store which coincidentally was having a storewide sale when I went in to buy. It was new with the full warranty etc. so I guess this counts as buying from an AD even though it wasn't a JLC boutique.

I did however go into a JLC boutique a few months earlier to try on a few models. They were all available and I don't think that JLC has any issue with selling you what you want when you want it. It seems like this nonsense with artificial scarcity and trying to get on some "list" with the AD is really only something that happens with Rolex and maybe the super high end brands like PP or VC. Thankfully you can get a Reverso for 5-6k right from the dealers (the "medium" and "medium thin" monoface watches).

 

Not an owner, but I've tried on a couple variations at the Omega boutique. I'm assuming you're talking about the diver 300m? The bracelet version was too big for me, and the bracelet does not taper. The bracelet design looks very 90s to me too, but that's just my opinion. The clasp is huge and bulky too. I tried the rubber strap version and it fits me better, so if you have smaller wrists I'd recommend rubber. As for the watch itself I'm looking forward to the next generation; hopefully they'll get rid of that pesky He escape valve. But otherwise I like the case design very much.

-
 

Will watch prices go down at all?

When and why?

Looking at specifically watches under 10K that have appreciated 20-30% the last yr-2.

I can see long term some of the watches I like appreciating over the next 10-30 years, but I’m not a big fan of buying at highest ever price or having uncertainty over my 5 year horizon (e.g. can I rent for free / be paid for it if it’s stable and appreciating). I know inflation inflation, but still — any thoughts on watch prices coming back down?

 

It seems like the insane price rises are mostly for Rolexes. Demand is high for them but I'm sure that Rolex can easily ramp up production if they'd like though I'm not sure if they will (especially since they can sell all the watches they want through their Tudor brand). And who knows, demand can easily go down, just a few years ago it wasn't as crazy as it is now. You're probably best off just buying what you want to wear, I certainly wouldn't look to watches as a serious investment item.

 

I bought a grande lange Moonphase and love it. People who don’t know watches think it’s just a nice watch.

But sometimes at parties or work events someone will quietly come up to me and tell me how rare and beautiful the watch is.

Best 50k I ever spent.

 

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