Thoughts on buying a high end timepiece…

I am assuming that people reading my blog have a strong interest in higher end mechanical timepieces.  While the internet is changing the way we learn and the way we can access information, it has created a new age of informed consumers.  Today’s consumer knows more than ever about brands, about lifestyle, and about the value of luxury items.  This is creating quite some pressure on luxury retailers as well as opportunities.

For many people, the acquisition of a luxury timepiece is related to the thought of investment potential.  I find this a very dangerous development.  How can something that is absolutely superfluous have investment value?  Let me be frank, a watch that costs 10000 US Dollars, how does anybody think it has an intrinsic value of 10000 US Dollars?  What happens if you cannot find a buyer who is willing to pay you 10000, but only 5000 US Dollars? 

In Germany, for the longest time many authorized jewelers used the investment argument to sell high end timepieces.  Over time, people came to realize that only very few timepieces may even have investment value.  This has led to a major reduction of jewelery stores in Germany over the past 20 years.

I think when you buy a watch, your primary and most important aspect should be fun, emotional happiness, the watch should smile at you and you should feel an urge that you want to possess the watch and wear it and enjoy wearing it.  If for some reason the watch you acquired becomes more valuable over time, and that happens with some models or brands, be happy, if not, simply enjoy the watch. 

I remember what Mr. Biver of Hublot said to me when I met him first:  “If people start buying highend timepieces to read the time, then it is becoming dangerous for Switzerland”.  Buying a watch is an emotional decision, and it should never become anything else but that.

What do you think?