How The Watch Industry Manipulates You
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- Опубликовано: 15 окт 2024
- Here is how the luxury watch industry manipulates watch collectors(us).
This video covers brands such as Rolex, Swatch, etc as well as other key players such as auction houses, watch blogs, watch magazines, other watch media, and even certain dealers.
How it manipulated me: a year ago i bought a nice Casio for £35 and got into the hobby and now after a year of watching youtube and reading forums i think £3k is decent value for a watch 😂
lol!
True. I think there is a human desire to feel something new, to experience a new high. When you buy a $50 watch, you enjoy it for a little while. Then get bored with it. So you start to look at other watches that are a little nicer. Then you find a $200 watch that you like. It's enjoyable for a few weeks. Then the newness wears off. Or you see an advertisement or RUclips video about another nicer watch that costs $500. And the cycle continues... All the while you think, "If I just spend enough money, I can buy a watch that will be my holy grail watch that will last me a lifetime.."
Ha, you’ve just begun.
Wait till you start looking at 20k watches and catch yourself saying “that’s actually a great value”
@@nerychristianI still wear every one I own from $50 to $1,500 and everywhere in between. I've never thought that there would be a holy Grail watch that would last me a lifetime as I enjoy it as a hobby and having an actual collection not just one. Would I like a Rolex Daytona? Sure it's a beautiful watch, but there's no way in hell I'm going to spend that much of my hard-earned money on a watch and I make damn good money.
Great breakdown on the current industry. An auction house tutorial of the last 20 years on how the brands drive up the prices would be a great video.
True about so many brands and ADs.
And often ADs holding a patek hostage and requiring spend history to get said patek. Buy other watches they can’t sell at full MSRP and they will “reward” you with the patek.
So all collectors need to start thinking. Personally, I only buy discontinued watches now and only from the grey market. Especially from the 1990s or so. Neo vintage.
They are more rare, more beautiful (in my opinion), more provenance (history), and often way cheaper they new watches from the AD. They also retain value much better.
I’m 53 and I’ve been collecting for 20 years.
Overall I agree !
Great video. Helps a lot. I’m in the process of trying to get a sky dweller and a lot of what you said has helped me put two and two together. It’s crazy how resellers have brand new full set watches for sale at a premium, but authorize dealers have no inventory. I’d rather wait and hunt for a watch at retail. It actually makes the process more interesting and will make for a good story in the end.
Good point about the past of rhe Grey Market.
For the longest time they were basically just the Outlet or Liquidation stores for the brands.
Shouldn’t there be a line from new dealer to grey dealer
This is probably one of your best videos. I think you might want to consider making video on how watch brands lying and BS’ing us. You touched on it but would love to hear you go deeper on this topic. Thanks John!
Really good stuff John. I'd love to see a video on the shadiness of Phillips Auction House and some of the accusations made towards them recently.
Always appreciate your thoughts & knowledge 👍
this is a great overview! as a beginner watch enthusiast, it’s important for me to be aware of how the game is played in the watch industry. in short, it’s really no different from other industries in a capitalistic system. but it’s important to be aware of the machine while we participate in it as consumers, collectors, enthusiasts 😎👍
Glad it helps. Thanks for watching!
I think its safe to say in every business it's always about the money. Thats called capitalism.
I was going to say the same thing. I hope everyone in America already knows that every manufacturer from toilet paper to cars to dishwashing detergent is trying their best get your money. Duh.
@@dalelawrence85 This is not only the case in America, but around the whole world. Duh.
I think you found your best settings. Audio, and video looking great John!
Thank you!
“Pepe Silva!” shouted Charlie. 😂
I'm so glad that this conversation is happening. The amount of cynical manipulation that goes on behind the scenes is something we all need to be aware of (not just in watches, of course). Once we see this, we can get back to buying for more honest reasons than hype and brand storytelling.
Great job! We always appreciate your candor, John. I never question anything that you or Fed explain. I wish I could say the same about other dealers.
No one who sells watches is looking to make the best deal for the buyer. You are right about your last comment. It all comes down to the money. Sadly those of us on our side of the screen fund the entire cycle.
Thank you for being one of the very few genuine people in the industry.
Very few would say it as it is. As they don't want to cut bridges or because they are secretly sponsored. A lot of smoke and mirrors.
Thanks for watching!
A cobbler? John, that is pure gold! 😂
Quote of the day Is definitely "Do people still wear shoes anymore"!?😉👍😎✌️
Thanks, John! I'm curious - if you were to look at the Japanese groups (Seiko, Citizen, Casio), are there any differences in terms of the behavior and (parts of) the overall cycle?
Overall these three don't rely as much on the same tactics IMO as their prices are much lower. If GS begins selling higher volumes, maybe they will go in this direction. Technically Citizen owns a few Swiss brands, though the brands they do own don't seem to play hard ball.
Frederique Constant man! Great watches with zero hype for their price. I don't love all their designs, but citizen owns them and they seem to function rather well.@@JohnPWatches
Excellent take on the subject!
Aw man! Why did you have to red pill me! I was happy in the Matrix! 😭
Is it just me or are youtubers talking slower to make their videos longer?
I was amazed at how happy I was with my own watches once I came off social media. I was known as a watch whore, constantly buying, selling and always chasing something new. Every trend or new watch became a purchase, goal or signpost to another goal.
Now I have a main 3-4 (Reverso duoface, gold vintage omega, Seiko padi Pepsi and a Laco flieger) and have sold a few others that I didn’t need/wear.
I haven’t bought a watch or come close in about 6 months, which to a normal muggle (non watch geek folk) may seem like a bizarre statement to claim as some kind of success. But if you’re one of us, you know I’m doing well.
My name is sam and I’m a watch addict, I’m 6 months abstinent 😂
*edit* I don’t class RUclips as social media but I appreciate it kinda is but I’m not on here as frequently either.
Revolution is probably the worst, most brand-integrated, dishonest, non-financial-ties-disclosing, manipulating, media out there.
Yes guys, worse than Hodinkee.
Has Hodinkee ever got a piece of shit quartz homage of a vintage Patek (Furlan Mari) a goddamn GPHG award? Revolution has. Guess who's buddies with FM, wrote a huge flowery review for their release, is on the GPHG jury, and runs Revolution: all Wei Koh.
If we take luxury watches, the typical watch collector maybe someone like producer Michael where money seems to be no object. There are 10s of luxury watches I like but I would never be able to afford them so I wouldn't put myself in your flow chart. The other point is that I can't see anything different between the luxury watch market and any other luxury goods ie cars, bespoke suits etc. They're all there to maximise profit for shareholders.
Thanks very much for sharing.
great video
solid video, great insight
Thanks for watching
This is your best video yet. It’s a critical analysis of the mechanisms of power in the watch industry that keep us spending and engaged. I have a watch I love and I’ve decided to enjoy it and stop buying or dreaming of the next best thing.
Great video! 👍
Some of the dealers of used watches are still buying but at very meager prices.
Rolex outspends the next 20 top watch companies in marketing spending combined. . Tudor i am sure gets its fair share.
Don’t have to be too cynical to think there’s som tax break/deductions - they could easily cut half and lose no name recognition.
@@WestCoastAce27 Rolex doesn't need tax breaks as they are registered charitable organisation. Yes, look it up it's true.
Rolex also just dumps a million watches while then telling you “no we don’t have any product in store” 😂
Trauma bonding I guess is their “sales tactic” 😂
When Timex gets hyped. When all "reviewers" all suddenly review the newest microbrand homage shitter. When a Chinese brand can have great finishing and specs close to a high tier brand minus the movement, the high end brand taking you for a ride based on "heritage." Swatch bastardizing Omega and Blanc Pain. The grey market sellers stealing consignment watches and running off with 5 mil. So much BS out there.
In every business transaction somone is trying to make a buck. The question I look at is how much is the profit margin or cost of parts/production vs. price I pay. Seeing a microbrand offer a much better watch with same movement as swatch product. In general I don't mind that a company is making money from a thing I buy, but if I know company A is making an obscene profit off of me and company B is making a reasonable profit, ill choose company B
Yeah I agree and think it’s why companies like Christopher ward have a loyal following and while you can not like them or choose to spend more, generally speaking they’re respected and liked. The difference in movement, finishing and quality between a Longines, Tudor or tag and a CW is minimal. But the price is significantly less.
A good comparison would be Rolex and Habring watches. Rolex is perceived, by the man in the street as "the" watch largely due to there huge advertising budget and skillful marketing. In reality many of the Rolex watch components are produced in China and mass assembled in Switzerland. Habring on the other hand have their components manufactured in Austria or Germany and are assembled by a master watchmaker Richard Habring. Habring spend virtually nothing on advertising and would be largely unknown to most people outside the watch industry. Unfortunately to many people believe the hype and the perceived status a Rolex will bring. We should buy what we like and what reflects are own horological knowledge not follow the crowd who are only interested in buying a watch as a status symbol.
Luxury watches are only status symbols. If you like playing that game, buying the best status symbols makes sense.
I have been in love with the videos recently john keep it up man!
Thank you!
Every single swiss movement can last forever as long as you take care of it and service it when it is recommended by the manufacturer.
Like many other posters here, i don't think the watch industry is any different to others. The biggest issue is the weak-minded population obsessed with status, forever consuming products to fit in with societal expectations and adhering peer pressure. We live in an era of true narcissism and lack of self-control and responsibility and where it's everyone else to blame for our own failings, faults and limitations. But yeah, let's blame the watch industry. ⌚ 👿
Since I have a cell phone, i don't need a watch. But if i wanted to go crazy, i could be a cheap Seiko and it would keep time better than anything from Rolex.
Me? I'll just simply buy a manual vintage watch for occasional use. The looks, the purpose. That's it. No need for auto I don't intend to wear it everyday 😂😂
Great perspectives. I always laugh when Euros look down at Americans as greedy and short term thinking - but when they do it it’s fine.
Precisely. That's you guys over there in Switzerland/Suisse. ;-)
Capitalism at work
I quit buying every new hot Rolex that came out and instead started having more fun changing Mistresses much more often.
Now my Friends cannot wait to see what new hot arm candy I show up with.
They dont even notice my scratched up Rolex Smurf.
What’s with the Sling Blade haircut?
what happened to you ?
I think what makes luxury watch collecting so nefarious is the fact that we can hide it from others. We end up getting into so much debt buying nice watches. And we can get away with it because no one is going to notice that we spent 10 grand on a watch. And since no one noticed, we don't feel guilty about it. If we were buying a new car every year, people would say we are wasting our money. But if I spend a lot of money to buy a Rolex, no one tries to stop us
HA! No one is gonna stop you from gambling, or buying expensive dinners, or expensive wine, or expensive audio equipment, or anything else people blow their money on, but you, or perhaps your spouse. "since no one noticed we don't feel guilty about it" - until you cannot pay the mortgage I guess. Why I never would say buy a luxury watch on credit. It is "luxury" not something you or I need.
I will offer you some advice. Do with it as you please. Borrowing money is for investing in your own business, for buying a house/apartment or for buying a car (if you need one). In other words: borrowing money is for things that are necessary. Luxury goods (including watches) or luxury activities (such as vacations) are not necessary and should only be purchased with money you have earned and can miss. If you have to borrow for them, you can't afford them and you should stay away from them.
if the shirt collar is not buttoned, my eyes tear up, I can't believe content....even good one😂😂
Dude spent way too long just to describe capitalism. I feel like I lost a few IQ points watching this video.
You really need to ramble less and get to the point more. There's a phrase in journalism and that is don't bury the lead.
Most luxury watches are Ugly anyway. I don't fall for the hype of expensive watches. What a waste of Money, I will stay with Wenger, Vistronix and even Casio Edifice.
You're in too deep.
Cutting corners? Breitling enters the chat!
Haha
Moar long vids