In March 2018 there was an article in The Wall Street Journal about why watches are becoming obsolete. But are they? Do you ever wonder why the owning, breeding, riding, and racing of horses is still a hobby and business today even though vehicles have taken over as our primary source of transportation? Auctions for vintage cars, now collectible, from the 1940’s-1980’s, are held all over the USA. Today you can buy a horse for one thousand dollars, or you could buy the future Fusaichi Pegasus for 70 million dollars. With paintings, you can buy a $25 picture in Times Square or buy Pablo Picasso’s Nude, Green Leaves, and Bust for $106.5 million. Luxury classic and vintage watches can be viewed as functional art and people love to collect and wear them.
People always want something to refine their lives, to add to their quality of life and to understand how others lived in the past cherishing the designs and the fashions and the customs gone by. Pride of ownership of an item that was loved previously is one of the reasons why it emits importance. Some pens sell for 19 cents each or you can own an Aurora Diamante fountain pen for $1.47 million. We cherish these classic luxury items because they mark a significant time in our history or our success. Over time collectibles develop sentimental value, sense of attachment and correlation to the memory of “winning” or special moments.
My first Swiss luxury watch
At 18 years old, I bought my first Swiss luxury watch; I bought a Breitling, and although I don’t know where I’ll be ten years from now, this Breitling marks the particular moment in my life that Florida International University’s school of Architecture accepted my submission. It doesn’t matter that my iPhone keeps better time; my Breitling is my trophy, it’s my symbol of getting to the goal. Sometimes medals and prizes aren’t given when you reach a goal that you set, so luxury items are a way of handing off that trophy to yourself. People look at luxurious things in their life and have an emotional attachment because it brings them back to a time in their life that holds affectionate meaning.
Luxury goods holds affectionate meaning
It’s common for a person buying a penthouse to sign the final contract with a thousand dollar pen and later keep the MontBlanc fountain pen behind a glass frame giving it a sense of monumentality. In this same way, people buy luxury Swiss-made watches such as Rolex, Cartier, Patek Philippe, Audemars Piguet, Jaeger LeCoultre, Breitling and Omega not for perfect timekeeping (they are not!), instead when people have ‘hit’ a level of success they tend to mark that with something fine. A great dinner for my birthday lasts an evening. A great watch could last my lifetime and my children’s lifetime as an heirloom, a family jewel that marks excellence in a special way, which is passed down for generations to come. People change their phone every 2-3 years or change their car every 4-6 years. A nice luxury watch, however, you’ll buy once, and continue adding to the collection.
Famous people watch collection
Watches are also recognized and prominent among famous people. When Conor McGregor walks up to a press conference, he has a sharp tailored suit and an all gold Rolex Presidential. Floyd Mayweather keeps a collection of luxury watches and is an ambassador for Hublot. Luxury Swiss-made watches are on the wrists of people because they have reached a level of success that even a real 1st place trophy or championship belt won’t cut it. They buy a Rolex or Patek Philippe because they have reached a point where they can forget about the expense, and buy the luxury watch of their choice to reward themselves.
Why do you think when people propose it is with an expensive diamond ring?
It’s because the luxury ring will mark a time in their lives of success, happiness, and commitment. A wedding dress is bought, at an expensive price, and only used once by the bride. This is the time when two people who are in love forget about money and buy the dress that will mark the day of their marriage. Breitling, Omega, Rolex, Audemars Piguet, Cartier, the list goes on; these watches go beyond mere functionality. Buying a fine watch is a gesture of self-expression to highlight one’s wealth or status.
When you see someone with a Rolex Sky-Dweller, you can somewhat classify their level of success and financial status. Just like when you see a woman with a Hermes Birkin, you recognize the exclusive designer wear. Not many people can afford these types of purchases at a young age unless they were born into it. So when you reach that level of financial success it is only right to award yourself a luxury watch and that moment in time will never go away. The moment, just like the watch, will be with you every tick of the way.