In my 20's I worked for a few high end jewelers (including a Rolex & Patek AD) before going back to grad school. I always felt really guilty selling to certain clients who would feel like they had to take awful financing terms to buy something they clearly couldn't afford. I hated being in that position. Sparkly rocks and shiny metal aren't worth setting yourself up for failure. If you fiancée won't marry you when you're broke you shouldn't marry her. If people in your life judge you by your watch, they aren't a friend or ally.
Diamonds too are NOT an investment. They are nice but a terrible waste of money. My wife recently lost the diamond solitaire in her engagement ring. It simply came out and we could not find it. Replacing it with a similar stone was outrageously high and with a family to raise, this became an expense we decided to forgo. I replaced her stone with a moissanite instead. Jewelers derisively call them disco balls. Your friends and family will never know. You will know and your bank account will thank you. They are pretty stones. Perhaps they are the GS9F’s of stones. We advise our children to save and invest their money for something that they need… like a house or other financial instruments that actually make money. When possible we pass that advice on to other young people just starting their married lives together. Some take it some don’t. I have a watch collection but it is very conservative compared to most all of what I see on social media. I too advise being conservative and responsible with watch purchases. The thrill of the new watch will fade quickly. Enjoy what you have and save for that rainy day and what you genuinely need, differentiating from wants vs. needs!
I judge people by the watch they wear, but only in a positive way. Even when I see some shitty Kickstarter brand like MVMT I at least think "ohh cool, someone that might get into collecting watches."
This is my thought process currently, I’m 17 and started my watch journey last year with a Seiko 5. My grails are a speedmaster and a Datejust 36 14/18K gold. The things that go through my brain quite frequently are essentially this - when can I afford them and what happens when I have them? Do I stop or do I find new watches to aspire to? Similar deal with my grail/dream cars.
@@pushatsinfrared I just got my first “real” watch and while i still have a couple of grail watches to go (omega seamaster 300, Rolex explorer II), but i don’t think I would have the itch to have more than 3 or 4. Even now after getting the watch I’ve been eying for the last year or so, I feel pretty satisfied for now. I can’t imagine moving my goalpost after getting those two grails unless I come into a significant amount of money. I rather spend the rest of my my money on investing and cars lol
@@pushatsinfrared Your tastes will change. I am much older than you and my tastes have changed many times. I had no interest in watches and when I received a Rolex as a present and it got me interested in the hobby. When I got into watches, I was able to go into a Rolex AD and get a Rolex at a discount. I learned, no matter how great you think a watch is, you will eventually get bored of it and want something else.
Isolation leads to addiction, speaking experience, going out and making friends helped me out a ton, even if they're watch-obsessed individuals like myself 😂
Well it's the contrary to me, if I start sharing it often get into a silent competition for the greater find or the greater rarity, newest or shiniest. I consume my hobby pretty much alone and I share on the technical and emotional side indeed but I try to keep looking when I see my yearly salary pass by in two posts 😂
So much respect Teddy for posting such a video. Not a lot of people would be honest enough to post something like this. You’re in a league of your own in appreciating all aspects of watch making and collecting covering all budgets. Your integrity is really why I love your opinion these last few years. I hope you continue to share your passion and knowledge of watches with the world.
Such an important topic that's not talked about enough. Before I became financially responsible, this was me when it came to buying watches. It was one of Teddy's videos a few years back where he was talking about not going into debt to collect watches. That advice seriously changed my life. I know that sounds dramatic, but if you're a watch enthusiast, you know where I'm coming from. Thanks Teddy. The watch community is lucky to have you.
Yep, I was tempted to finance half of the price of my grail watch and decided against it. A watch should be some kind of self reward that I can’t truly “earn” if I can’t buy it with cash without negatively affecting my finances. I decided if I buy a $5000+ watch, the expenditure should represent only a small percentage of my assets. This is because I realized how negatively I would think of someone wearing a luxury item that the can’t really afford.
@@ROVA00 why though? I make a literal poverty wage and I just spent more money on a watch than I have on a vehicle. I definitely shouldn't be buying shit like that, but I'm also not obligated by a family or other financial responsibilities that I am putting at risk. Bills are paid, I dont miss a meal. All is well. Why would u think negatively of me? No one is being hurt by my "irresponsible" spending
@@Megatraum504 it’s not that I wouldn’t think you’re a bad person. It’s that it would be cringy to me. You might not care, which is totally fine. I personally simply don’t want to have the look of someone that wears jewelry that they can’t afford. I don’t want to come off as someone who wants to look wealthy but clearly isn’t. Again, this doesn’t mean that YOU are trying to look wealthy… it’s just my own apprehension. I would feel foolish. Couldn’t imagine having poverty wages, living in a cheap apartment and driving a beater and having a Rolex on my wrist. To me personally, it would be like going out to BUY a trophy instead of winning one.
@@ROVA00 i just dont look at materials like that. A watch is like a pair of sneakers to me. I've never been proud of ownership of anything. And it is ultimately silly af to judge anyones character based on what accessory they have on. Who the hell cares that much anyways? I don't even think of such things if i saw someone wearing a rollie.Trying to piece together someone's image and wealth based on what materials they are wearing/ what car they drive. You say it is all how YOU comprehend the situation for yourself, but how about just not projecting and being prejudice? And you are certainly right about me not caring. I just do the things I want, buy the shit I like. I'm not concerned with how I "come across" to others. The thought of what others think of how I look never crosses my mind. Nor do I cringe at the thought of me trying what someone else is doing
@@Megatraum504 hey, YOU asked me. I thought I was pretty clear that my view was only MY own personal view, and that if you don’t care, that’s totally fine. So I’m not sure why you are still being defensive. You don’t have to justify yourself to me, just do your thing. If I find it cringe or if I judge someone, you shouldn’t even care based on what you just said. If what I think makes you upset in any way, then perhaps you DO care what others think.
Did you first get into watches 6 months ago? I didn’t wear a watch for something like a decade - my phone and computer did that job. Then this year I suddenly also bought 6. Now I know what I like and am going to sell maybe 3. I might pick up a watch occasionally now but I think the frenzy has passed
@@frogsplorer I loved watches for quite some time. It was during the last 6 months that I had the means to buy the watches I want. It started from 1 watch and then I wanted another, and then another. Once I got the watch I wanted, my eyes were already set on another one.
Ive gone through the same situation. Had one watch for 15 yrs. Then this year on first Jan bought my grail watch and then bought another three to complete a collection . Very addictive behavior. But honestly I enjoy them everyday. And appreciate the beauty of my first watch even more now
It seems i'm not the only one ^^. I was never into watches but suddenly the passion grew on me in a heartbeat. Bought three watches in one month and planning on getting another 2 next month. I need help guys 😂😂
i just bought my first last night and there's already 2 others in my basket, I think i will just buy them when i need them or haven't treated myself in a while
Well done teddy. This is important. It’s amazing how normal people turn into spending monsters when it comes to watches. Myself included. For me, an impulse purchase is the main one to avoid.
Teddy, your store and your approach goes a long way towards pushing back against the problem. By offering and reviewing inexpensive watches you make the point that our obsession does not have to be at the expense of our livelihood. Thank you for that.
Wise words. Since I got back into watches two years ago, Teddy is in my opinion, one of the best on RUclips, and it doesn’t surprise me that he is strong enough to make these points.
Sir, you have garnered my complete respect! This is not a message I would expect coming from a watch dealer. Thank you Teddy for being forthright in being responsible and not being taken up in the frenzy, and guarding ourselves from excess and the desire to fit and be accepted by fellow watch enthusiasts. You have earned my complete respect, and my business! You’re a good man, Teddy!
Well said Teddy. There are some watches that I know I will never own, but that I can simply enjoy from a non-owner perspective. There are much harder things in life to make peace with.
Unconditional respect for you Teddy, this is such an underrated important issue that we don't discuss and not in the context of just the journey of watch collection but also for the things like shoes, jewelleries, bikes, cars, or anything that can be deemed as collectables. As being the loving and appreciative individuals towards our dearest ones in life, the joy of having a grail of a timepiece is no where near comparable to having a great time with your loved ones even for a moment.
Thank you for being a responsible watch influencer and address this hot topic. Once I was selling a 4 digit luxury piece to a young man, as soon as I heard he's a college freshmen and need to take a personal loan to cover the cost, I kindly declined.
love this video Teddy, exactly what I needed. Been looking at an expensive watch that I can't afford at the moment, so going to save up and invest the money instead and then when I complete that major goal (graduating university) I'm going to buy that watch. Really helpful, thank you.
Remember the price of a watch isn’t what makes a watch special. It’s what it means to you. I am 38 years old and didn’t buy a Rolex until 2 years ago. I own a number of luxury watches as well as seikos, g shocks and other moderately priced watches. By far the most meaningful and treasured piece I own is the watch my father gifted me for my 16th Birthday and it’s a Seiko.
Perfect timing... I just purchased my first "expensive" watch from you 😂.... Longiness Hydroconquest But I did it responsibly and base on your thought process everything was in check for me. THANK YOU for creating this honest video, I know it was hard but this exactly what we need to hear. It's not only for watches, it's for fragances, clothes, shoes, or anything else. Very valuable advice.
Hey Teddy. I feel like over the years you have talked about the ethics and responsibilities around this hobby. I've really appreciated that about your content, and it is why I've followed you. Thanks for being thoughtful and contextualizing our hobby.
I’ve been fortunate enough to have experienced both sides of the watch equation as a consumer and as a dealer/accessory manufacturer. It gave me an emotional perspective that few can say they’ve experienced. Having said this, my respect for you continues to grow the more I follow your channel. Teddy; you’re truly a class act and a credit to the industry. Keep up the great work!
Teddy, I appreciate this effort that you made in presenting the reality of today's culture of instant gratification. RUclips, TikTok and IG simply push false images of success and folks fall into the trap that having those pieces will bring joy. Very often, it simply means the very opposite when they struggle instead to find a watch that brings real satisfaction.
Totally agree. I have my key watches that are worn all the time. I had an affordable collection that was massive and when I sold it all to reduce my clutter I lost a lot of money and that when it hurt. Keeping my collection small with ones I love has kept me happy and sane
I may do that but less face it Most buyers out there now Are "flippers" and most of my collection has virtuallly no resale value and the rest are too specialized for quick turnover artists!
As somebody who is just getting into collecting watches this is great advice. I started out wanting a Rolex but did some research and decided my first high end watch will be a GS Skyflake. Rolex will be a 2024 or 2025 purchase. In the meantime it is hard not to just impulse buy cheaper watches and jump in two feet first. I did just purchase a Seiko Presage SRPB77 from your website as I collect funds and find the right time to purchase the GS Skyflake. You are running a nice discount on the watch right now. But I find these sub 1000 dollar watches hard not to hoard because they are all so affordable and nice looking for the money. But hoarding them would prevent me from ever getting the Skyflake or Rolex and just fill a box full of watches I never wear and mean nothing to me.
Thanks for this Teddy. I always come here for your content because it is accessible and so well produced, but most of all it’s because there is a genuineness that I don’t see on other watch channels. And this video just exemplifies it.
This is an interesting timing, because today I bought my first over $3k watch after weeks of researching and thinking and going back to research again. It really takes effort to find the right watch, find something you love and can effort without getting into financial hardship. I'm watching this video now and it completes what I've been thinking and glad to be on the right path in this journey 🥳 One thing I can definitely recommend to fellow watch enthusiasts, always keep an eye on the second hand market. You can develop skills to find out if something is fishy about a watch and shop only from trusted sites/vendors. I found my Tudor BB 58 in a local watch store as a used watch. It was super clean and only 5 months old. It had the papers, cross-checked the serial number and did other authenticity checks. I got it 18% less than retail. Always be patient and you will find a good deal. Good luck!
Yeah I have a watch collection of 2: a 10 year old casio Gshock that I wear to the office (warehouse) and a nice Bulova mechanical that I wear out. I will continue to live vicariously through you...
Respects to you Teddy. Not a lot think they have the moral responsibility to address this issue, and to hear it from you whose business revolves around watches is really encouraging.
I love the message of this video. Fiscal responsibility may not sexy or fun, but an unhealthy financial relationship with a hobby will make it much more likely that you need to abandon a hobby due to the hardship it causes. That un-sexy fiscal responsibility will make it easier to enjoy watches, or microphones, or movies for our entire live. Great work Teddy.
Teddy correctly iterates that you should only buy what you can afford. There is one other dark side to watch collecting : investors have come into the market to buy watches at profit to themselves and making many pieces unavailable and over list price. This is a relatively new byproduct from the easy money during the pandemic. I saw a video from another channel where an investor bought over $1 million of Rolex to hold and never wear with the intent of selling in 20 years from now! Karma would be if the S&P index will out perform his investment in Rolex!
That’s quite a gamble on luxury goods. I think we’ve been through a crazy period with easy money and my expectation is that it’s gone and it’s not coming back (could be wrong). I’m guessing the guy has lots of other investments and to be fair a quality watch will always have some value
Respect Teddy, very important video. To me people should stop rushing, do your research, start with cheap stuff to check what do you like and maybe after some years and once you have identified your preference, you can save and buy something fancy that if picked correctly can be your main watch for the rest of your life. But please keep impulse buying in check, it's very easy to fall into that trap with watches.
I really do appreciate you posting this, Teddy. I've done far too much sprinting (though never in a way that caused financial hardship) and recently developed some bumpers similar to what you outlined in the video. It'll be a slower journey from here. Your moderating voice has helped me stay grounded as I've gotten into this incredibly fun hobby.
A good subject to adress.I went on the watch journey from buying Stauer watches advertised in magazines to complicated JLCs.I realized each rung up the ladder did not bring a corresponding level of enjoyment.In fact the greatest rush I ever experienced in watch collecting was strapping on my first Swiss watch,a Tissot Visodate.
By far my favorite video by you. You wanna know why? Yesterday I purchased two orient bambino’s and got them today along with a watch case. However the case wasn’t filled up. So I thought to myself; “I need to fill this empty display case up” so about an hour before commenting this I bought ANOTHER watch (Citizen) and went to get lunch after ordering the purchase. As I sat down to eat I brought up YT thinking, “ya know maybe I should watch some Teddy Baldassarre and see if he has any new videos for more recommendations on what watches to buy” then I opened your channel and saw the most recent video and started watching it. This video was meant for me. As I watched the video it was a wake up call and reminder not to fall into the watch buying snare and it couldn’t have been timed any better! Thanks!
A very interesting topic and thanks for doing a video about it, Teddy! I started on the slippery slope of watch collecting in 2015 with low-key watches and ended up going higher and higher up the chain towards the luxury end of the market. Now, I was VERY fortunate to have had a salary that permitted me to buy watches without compromising (too much) elsewhere. Oddly enough, my life has now changed a huge amount after I quit my well-paid job last November and moved off-grid where I am doing up a house I bought. I'm now able to FUND that renovation in no small part by selling off those watches that I was able to wisely collect and take care of. As someone who finds it impossible to save money, I had a (frankly silly) amount of money tied up in watches and now that I no longer "need" those watches with my life having changed so much, I'm able to sell them without remorse, and put the funds towards what is important to me now. If I wouldn't have started collecting watches I wouldn't have saved anything CLOSE to the amount that is stored in them now and they form a (admittedly finite) source of additional funds now that I am letting them go. But this is my experience and vastly different to what many others will have gone through :)
I've fallen out of the line a few times. With a collection of 150... with more in boxes waiting to sell on ebay that I don't count as part of the collection... definitely been times I made poor decisions. Luckily, it's never set me or the family back or cost us anything we needed. However, there has been plenty of times I felt tight for no reason other than I bought too many watches I can't even wear... Seeing your video was refreshing. Very admirable.
The gatekeeping and elitist attitudes can be detrimental - and can lead to unnecessary peer pressure to stretch one's budget - but I think a key element when it comes to spending is: keep an eye on that steep drop in diminishing returns when it comes to watch prices. This is true in a lot of luxury/enthusiast markets (including electronics and fitness equipment, which I unfortunately have all too much experience in as well.) If you're looking at a $500 watch and decide to see what doubling your budget will get, the difference in quality between a $500 and $1000 watch can be extraordinary. Take that to the next step, however - comparing $1k and $2k watches, and you often won't see nearly the same difference. With that price difference, it usually comes down to nicer finishing and maybe a nicer bracelet (heck a lot of $1k and $2k watches carry near-identical movements.) Bottom line: when you start to think about increasing your budget, take the time to really examine what each additional dollar is buying you.
Your advice applies to all kinds of addictions. You are always passionate, knowledgeable and entertaining about watches but you are also a most humane man.
Well said, collecting can become addicting and tuff to say NO. I have a watch savings account, That works best for me. Like you said, watch collecting is a life time adventure. Don't compare your collection to others we are all in a different place but in the same conversation ....
Something I have been thinking about a lot recently Teddy. So glad you made this video. I have an $18,000 watch collection paid for with cash that I can well afford, but I still feel guilty about having so many sometimes. I am definitely going to hit the pause button on spending anymore money on watches and just enjoy the things I have instead of trying to find “the perfect watch”.
If we own more than 5 watches, we can consider ourselves as watch collectors so, from that point on, one should start drawing a collection plan based on introspection, personal preferences and more importantly, monthly budget to spend. Having a plan like this will take all out remorses and give us the joy of knowing our planned collection is going in the right direction.
I bought and owned 5 watches mindlessly at one time. It's really not for me. Sold everything except one flieger and it made me happier. Right now, I still enjoy looking at watches and I really put alot of thinking if I plan to buy another watch. For an average person, I feel that a 3 watch collection should suffice.
Thank you for this post Teddy. It takes real integrity for you as a major watch retailer. I got to one dozen watches about 12 months ago and said ok. That's it. Done. I have a lovely collection. And just recently I've been eying a watch that I absolutely don't need, but finding it difficult to resist. Your post is very helpful
Teddy, this isn't the first time you've broached this subject. You have brought up a taboo topic in the hobby world in general, and it's about time it was discussed at length. I went off the deep end with another hobby, several years ago. Ever since then I have exercised restraint exactly as you put it. My watches are mostly cheap vintage Swatches in absurd colours and Casios. The only expensive watch in my collection is a Rado Diastar because I love that shape, and that's it. If acceptance in your community means that you need to bankrupt yourself in the process, then you can do without that toxicity.
Have been collecting for over 20 years and have 30 watches in my collection. I follow the 10 and 1 rule. My watch collection and luxury goods should never go above 10% of net worth. Annual net purchase should never go above 1% of net worth. Hope this helps.
Just because you can buy a watch doesn't mean you can afford it. So far I've only purchased one watch after months of research, and I haven't experienced the urge to buy more watches yet but we'll see where it goes in a few months. Which reminds me, Teddy your customer service team is incredible. They're very knowledgeable, and super patient with me being a first time watch buyer. My first watch arrived a week ago and thanks to you team I found a good starter watch in the Tissot PRX Powermatic Ice Blue. Thanks for all the hard work you and your team have put into watches!
No matter how delightful a watch (or a fountain pen, or whatever) might be, I always remind myself "It won't make you happy". Of course there is joy in the appreciation of fine things & the stories behind them - but such pleasure serves to enhance, not substitute for, a life well lived.
Solid advice from a solid bloke. Thanks Teddy. I've followed your channel for 2 years now, ever since that seminal Vostok video. That led me down the watch collecting rabbit hole, for which I thank you. You have been pulling up trees with your variety and excellence of content. Long may that continue. Nice one. Mark.
Thank you so much for this video Teddy! This isn't just something with watches but I've noticed this is the case with any 'hobby' that is really just based on consumerism. A lot of people may start out because it's something that intrigues them and is a way to learn about something they didn't previously know enough about but very quickly these types of 'hobbies' can turn into addictions/retail therapy where the hobbyist begins to pursue the dopamine release of acquiring a new piece. The high only lasts a few days and then they want to experience that rush of getting a new piece all over again. It's really unhealthy and very destructive. Loads of respect to you for talking about this even though you're a watch dealer yourself. Also I'm guessing Teddy listens to Dave Ramsay since he used that set fire to it analogy 😂
This is a topic that is discussed too little. For me personally: I like a lot of watches that i "could afford" but then i couldnt safe money for a couple of month or would have to downgrade on vacations. Its hard to say no to something that you really like but KNOW, that logically it has to be low on your list of purchase prioritys.
This is why I think Casio is GOD tier of watches. You don't have to break the bank to have great watches. Also they aren't thief targets. The more expensive the watch the more security is needed to protect them from theft.
Thank you for bringing this to us. I bought too many watches during Covid, but now I have 3 rules: don't credit finance watches, only buy ones I can easily afford twice and never impulse purchase just cause the watch may go out of stock. There are plenty of options out there.
So honest and compassionate. This is why Teddy is my favorite youtuber irrespective of subject matter. Honestly one of my favorite human beings I've never met.
Great observations. These can be applied to all of our interests and hobbies, and ultimately boil down to developing an honest and healthy relationship with our things.
You're absolutely right about this, Teddy. I have ADHD and a severe issue with impulsivity, especially around watches. If I see something I like, often I will just buy it regardless of the consequences. As a result, my watch collection has risen in number from just a few back in January to 13 as of today. Fortunately they're not hugely expensive watches, with the costliest at around £300, but I just caught myself looking at some second hand Rolexes and Tudors online, so there's no way I can delude myself that it's not getting a bit out of hand. I know this happens when I'm watching a lot of watch-related content on RUclips, so maybe it's time I cut back on that habit for a while. Thanks for this video, Teddy. It may be the wake-up call I really need.
I really appreciate the transparency Teddy! It keeps you and this hobby down to earth when oftentimes, it feels really superficial and materialistic. Nobody should go into debt for a watch. Also, don't be ashamed of your collection. Everyone has to start somewhere. Appreciate with what you got because watches are an extension to one's personality and lifestyle. You don't need a certain watch or watches to be in the club.
So True. I often have found wanting, saving and searching for a watch is almost as satisfying as actually owning it. Constantly researching, watching videos, reviews and looking for it to me is more of a hobby than collecting it. When I get it I love it. Wear it often and eventually start going back to wearing others in my collection and looking for the next one. The more I collect the slower I have purchased them. I usually limit myself to one or two big purchases a year and a hand full of entry levels as I still love Seikos, Casios, Hamiltons, and the like and a have a big list of iconic vintage watches.
Your honesty and grounded consideration of this wonderful and amazing world of watches, and crazy prices, is what makes you different and the reason wy I follow your content more than any other watch related channel. As a student in love with watches I've just discovered that what truly amazes me is watch mechanics, so I decided to get a starter tool kit for my birthday and some broken movements to get started. I already have a favourite whatch though, I hope I can afford it the day I graduate 😌
Great discussion. I’ve been collecting for 4 decades and decided I didn’t need more. I love the watches I have. What’s been distracting is I enjoy my Apple Watch more. It doesn’t require winding, it has a lot of functionality that my mechanical watches don’t have. I still wear my other watches because they are soothing and look good. Still kind of torn between technology and mechanics.
It's so easy for people to get sucked down a rabbit hole and buy things that are not in the budget. But, as Teddy said, watches are "wants" not needs. And here we are in 2023 where the economy is not good! We are all paying more for the basic essentials in life (i.e. groceries, etc.), let alone homes and cars that have sky rocketed in price. So it makes it all the more important that we try to make wise decisions with our money - otherwise live to regret it! Kudos to Teddy for making such a video. He gets that much more respect from all of us!
Excellent video! My problem was my collection getting too big, and actually creating anxiety, having that amount of money just sat in watches not being worn seemed ridiculous. I've now got into the habit of selling and consolidating the collection. I still have too many watches, but at least the ones I have I appreciate much more, and I'm trying to employ a one in one out system. The sad reality for me is that the more a collect, the more my tastes seem to get more expensive.
Fair play mate. Always delay the impulse buy, see if you still want it a month later. I find often I don’t. And there are so many “good” affordable brands these days, a collection doesn’t have to cost ‘000s
Great video and wise words. Watch forums/Facebook groups etc are the worst for making you feel inadequate. There is always someone out there richer or at least has a better collection and it's all too easy to try and keep up with all of them. Remember, in the main, these are people you feel like you know because you see and maybe interact with them daily but in reality are a bunch of strangers. Learn to appreciate what you have. Thank you for this video.
Thanks for a very important video. Like any addiction, there’s a dopamine drop that happens when attaining that latest purchase. It takes self discipline to control. Just remember the watch you want will always be there when you’re ready.
Like my wife with her bags, I had to blow past a unrealized comfort zone with any one piece to realize where my comfort zone actually is. Pulled back, reevaluated and both are in a good place in our hobbies.
I'm a fairly high-level saxophonist, and recently I was at a stage where I was basically one step under having all the instruments I immediately saw as my "dream" horns. My finances recently got way, way better and over the past year, I've upgraded and sold off my old horns such that for 3 out of 4 categories, I have my unbeatable grail... And the fourth horn, I took to the shop for some repair (after waiting way too long) and found out that it still plays like a dream. All that's left is for me to practice and play! I used to check my list of websites every morning and night looking to catch a last-second deal, but now I haven't even opened eBay or Reverb for a full month. Time to live it out and enjoy the dream collection I've built!
Glad you made this video. It shows that you actually care about your audience instead of just pushing them to buy, buy, buy so you can put more $$$ in your pocket!!!
This is one of the only watch channels I like. Thank you for making such great content. No screaming fat idiot on this channel, no drop shipper guy with sunglasses who only loves what everyone else loves.
Wise words Teddy. It can definitely be a slippery slope if you aren’t careful with your spending on watches or other luxury goods. I certainly follow a few of the rules you laid out.
I don't think many people in any retail sector would have the decency to share sometbing like this about the risks of overspending. My positive impression of you grows with each video! What a great guy!
BRAVO! bravo, sir! I was on the Tim Write show and asked him "How much should one's entire financial wealth/portfolio should be invested in watches?" His reply: "1 percent" . . . Think about that. What's it called, "cognitive dissonance"? What he is saying is not what he does (or he is unimaginably wealthy and lying to his viewers about his personal finances). Thank you Teddy! Thank you for speaking sanity and unfortunately being the only one I've seen. Well done, sir.
Great video, Teddy, and as a watch dealer/content creator it really speaks to your integrity to address this topic. Having followed you for the past 2 years, I am not at all surprised to hear you so eloquently and carefully discuss the risks to one's personal and family life that can come from overspending to keep up with others who may or may not be projecting their real situation on social media. To your point, I've recently had some discussions with very talented photographers/creators on Instagram who have been feeling the pressure to continually bring new luxury pieces into their collections in order to maintain interest from their followers. But the truth is this hobby is full of amazing people who don't necessarily care about the exact watch itself, but rather the person telling the story behind it and sharing his or her own unique way of appreciating watches.
Thanks for this Teddy. I know most watch RUclipsrs have very high taste. I myself have only owned seiko and Casio until recently when I purchased a Hamilton Murph 38 from your website for my birthday. My budget is never really over $1200 but a guy can dream. Very happy with what I own though.
To add to that. A watch doesn’t have to be pricey to be nice. And you don’t have to shop out of your budget to impress anyone. I love my $25 Casio as much as most of my other watches.
As someone that is just starting off on my watch collecting journey this was a much needed video, it is all too easy to get caught up in the luxury watch echo-chamber today with RUclips and social media , the good thing is today there are more and more really good quality "budget" watches on the market today.
Excellent video Teddy. I recently purchased a BlackBay 58 for a milestone birthday. Must have visited the jewellers to look at one 5 times before I actually made the purchase, but knowing I was 100% getting the right watch for me
In my 20's I worked for a few high end jewelers (including a Rolex & Patek AD) before going back to grad school. I always felt really guilty selling to certain clients who would feel like they had to take awful financing terms to buy something they clearly couldn't afford. I hated being in that position. Sparkly rocks and shiny metal aren't worth setting yourself up for failure. If you fiancée won't marry you when you're broke you shouldn't marry her. If people in your life judge you by your watch, they aren't a friend or ally.
well spoken!
Diamonds too are NOT an investment. They are nice but a terrible waste of money. My wife recently lost the diamond solitaire in her engagement ring. It simply came out and we could not find it. Replacing it with a similar stone was outrageously high and with a family to raise, this became an expense we decided to forgo. I replaced her stone with a moissanite instead. Jewelers derisively call them disco balls. Your friends and family will never know. You will know and your bank account will thank you. They are pretty stones. Perhaps they are the GS9F’s of stones. We advise our children to save and invest their money for something that they need… like a house or other financial instruments that actually make money. When possible we pass that advice on to other young people just starting their married lives together. Some take it some don’t. I have a watch collection but it is very conservative compared to most all of what I see on social media. I too advise being conservative and responsible with watch purchases. The thrill of the new watch will fade quickly. Enjoy what you have and save for that rainy day and what you genuinely need, differentiating from wants vs. needs!
I judge people by the watch they wear, but only in a positive way. Even when I see some shitty Kickstarter brand like MVMT I at least think "ohh cool, someone that might get into collecting watches."
That guilty feeling is why I couldn’t be a car dealer.
Wise words. Be well,mate.
Major respect for you, Teddy. Thank you for always showing the human side of it.
Wait you collect watches too???
I second this
I bought my "holy grail" watch almost 2 years ago. I'm basically done. We all have to learn to enjoy our collection!!
Nice one. What was it?
@@nkonig1 F-91W
This is my thought process currently, I’m 17 and started my watch journey last year with a Seiko 5. My grails are a speedmaster and a Datejust 36 14/18K gold. The things that go through my brain quite frequently are essentially this - when can I afford them and what happens when I have them? Do I stop or do I find new watches to aspire to? Similar deal with my grail/dream cars.
@@pushatsinfrared I just got my first “real” watch and while i still have a couple of grail watches to go (omega seamaster 300, Rolex explorer II), but i don’t think I would have the itch to have more than 3 or 4. Even now after getting the watch I’ve been eying for the last year or so, I feel pretty satisfied for now. I can’t imagine moving my goalpost after getting those two grails unless I come into a significant amount of money. I rather spend the rest of my my money on investing and cars lol
@@pushatsinfrared Your tastes will change. I am much older than you and my tastes have changed many times. I had no interest in watches and when I received a Rolex as a present and it got me interested in the hobby. When I got into watches, I was able to go into a Rolex AD and get a Rolex at a discount. I learned, no matter how great you think a watch is, you will eventually get bored of it and want something else.
This is the type of content that differentiates you from the average watch channels Teddy, thank you for this reality check and keep it up.
@nickshabazz has always had grounded content like this. Check it out!
Not just watch channels! Who else is telling you not to buy the product they sell?
Isolation leads to addiction, speaking experience, going out and making friends helped me out a ton, even if they're watch-obsessed individuals like myself 😂
I'm at the edge of the life. So I got addicted to collecting watches
Well it's the contrary to me, if I start sharing it often get into a silent competition for the greater find or the greater rarity, newest or shiniest.
I consume my hobby pretty much alone and I share on the technical and emotional side indeed but I try to keep looking when I see my yearly salary pass by in two posts 😂
making friends terrifies me because I have unrealistic expectations of people and can't seem to just not
Thats the word Im looking for "Addiction"
So much respect Teddy for posting such a video. Not a lot of people would be honest enough to post something like this. You’re in a league of your own in appreciating all aspects of watch making and collecting covering all budgets. Your integrity is really why I love your opinion these last few years. I hope you continue to share your passion and knowledge of watches with the world.
Well said, Teddy! The battle is real. It’s all about keeping things in the proper perspective. Buy what you like and can comfortably afford.
Such an important topic that's not talked about enough. Before I became financially responsible, this was me when it came to buying watches. It was one of Teddy's videos a few years back where he was talking about not going into debt to collect watches. That advice seriously changed my life. I know that sounds dramatic, but if you're a watch enthusiast, you know where I'm coming from. Thanks Teddy. The watch community is lucky to have you.
Yep, I was tempted to finance half of the price of my grail watch and decided against it. A watch should be some kind of self reward that I can’t truly “earn” if I can’t buy it with cash without negatively affecting my finances. I decided if I buy a $5000+ watch, the expenditure should represent only a small percentage of my assets. This is because I realized how negatively I would think of someone wearing a luxury item that the can’t really afford.
@@ROVA00 why though? I make a literal poverty wage and I just spent more money on a watch than I have on a vehicle. I definitely shouldn't be buying shit like that, but I'm also not obligated by a family or other financial responsibilities that I am putting at risk. Bills are paid, I dont miss a meal. All is well. Why would u think negatively of me? No one is being hurt by my "irresponsible" spending
@@Megatraum504 it’s not that I wouldn’t think you’re a bad person. It’s that it would be cringy to me. You might not care, which is totally fine. I personally simply don’t want to have the look of someone that wears jewelry that they can’t afford. I don’t want to come off as someone who wants to look wealthy but clearly isn’t. Again, this doesn’t mean that YOU are trying to look wealthy… it’s just my own apprehension. I would feel foolish. Couldn’t imagine having poverty wages, living in a cheap apartment and driving a beater and having a Rolex on my wrist. To me personally, it would be like going out to BUY a trophy instead of winning one.
@@ROVA00 i just dont look at materials like that. A watch is like a pair of sneakers to me. I've never been proud of ownership of anything. And it is ultimately silly af to judge anyones character based on what accessory they have on. Who the hell cares that much anyways? I don't even think of such things if i saw someone wearing a rollie.Trying to piece together someone's image and wealth based on what materials they are wearing/ what car they drive. You say it is all how YOU comprehend the situation for yourself, but how about just not projecting and being prejudice? And you are certainly right about me not caring. I just do the things I want, buy the shit I like. I'm not concerned with how I "come across" to others. The thought of what others think of how I look never crosses my mind. Nor do I cringe at the thought of me trying what someone else is doing
@@Megatraum504 hey, YOU asked me. I thought I was pretty clear that my view was only MY own personal view, and that if you don’t care, that’s totally fine. So I’m not sure why you are still being defensive. You don’t have to justify yourself to me, just do your thing. If I find it cringe or if I judge someone, you shouldn’t even care based on what you just said. If what I think makes you upset in any way, then perhaps you DO care what others think.
As someone who has bought 6 watches in less than 6 months, this is the advice and reality check that I needed to hear. Thanks, Teddy 🙂
Did you first get into watches 6 months ago? I didn’t wear a watch for something like a decade - my phone and computer did that job. Then this year I suddenly also bought 6. Now I know what I like and am going to sell maybe 3. I might pick up a watch occasionally now but I think the frenzy has passed
@@frogsplorer I loved watches for quite some time. It was during the last 6 months that I had the means to buy the watches I want. It started from 1 watch and then I wanted another, and then another. Once I got the watch I wanted, my eyes were already set on another one.
Ive gone through the same situation. Had one watch for 15 yrs. Then this year on first Jan bought my grail watch and then bought another three to complete a collection . Very addictive behavior. But honestly I enjoy them everyday. And appreciate the beauty of my first watch even more now
It seems i'm not the only one ^^. I was never into watches but suddenly the passion grew on me in a heartbeat. Bought three watches in one month and planning on getting another 2 next month. I need help guys 😂😂
i just bought my first last night and there's already 2 others in my basket, I think i will just buy them when i need them or haven't treated myself in a while
Well done teddy.
This is important.
It’s amazing how normal people turn into spending monsters when it comes to watches. Myself included.
For me, an impulse purchase is the main one to avoid.
Teddy, your store and your approach goes a long way towards pushing back against the problem. By offering and reviewing inexpensive watches you make the point that our obsession does not have to be at the expense of our livelihood. Thank you for that.
Full retail tho?
but but but 150s of them still costs a lot..
"A watch should be an extension of a life well lived". That is a well said, simple truth.
Wise words. Since I got back into watches two years ago, Teddy is in my opinion, one of the best on RUclips, and it doesn’t surprise me that he is strong enough to make these points.
Sir, you have garnered my complete respect! This is not a message I would expect coming from a watch dealer. Thank you Teddy for being forthright in being responsible and not being taken up in the frenzy, and guarding ourselves from excess and the desire to fit and be accepted by fellow watch enthusiasts.
You have earned my complete respect, and my business!
You’re a good man, Teddy!
This is a great illustration of the kind of guy Teddy is. Well done, sir.
Well said Teddy. There are some watches that I know I will never own, but that I can simply enjoy from a non-owner perspective. There are much harder things in life to make peace with.
Unconditional respect for you Teddy, this is such an underrated important issue that we don't discuss and not in the context of just the journey of watch collection but also for the things like shoes, jewelleries, bikes, cars, or anything that can be deemed as collectables. As being the loving and appreciative individuals towards our dearest ones in life, the joy of having a grail of a timepiece is no where near comparable to having a great time with your loved ones even for a moment.
Thank you for being a responsible watch influencer and address this hot topic. Once I was selling a 4 digit luxury piece to a young man, as soon as I heard he's a college freshmen and need to take a personal loan to cover the cost, I kindly declined.
love this video Teddy, exactly what I needed. Been looking at an expensive watch that I can't afford at the moment, so going to save up and invest the money instead and then when I complete that major goal (graduating university) I'm going to buy that watch. Really helpful, thank you.
Remember the price of a watch isn’t what makes a watch special. It’s what it means to you. I am 38 years old and didn’t buy a Rolex until 2 years ago. I own a number of luxury watches as well as seikos, g shocks and other moderately priced watches.
By far the most meaningful and treasured piece I own is the watch my father gifted me for my 16th Birthday and it’s a Seiko.
Work hard and make it happen! That watch will mean even more to you as a result.
I hope that one day you'll get that one! me work for years but aim to get a Seamaster in 3 years since my paygrade isn't that much.
Perfect timing... I just purchased my first "expensive" watch from you 😂....
Longiness Hydroconquest
But I did it responsibly and base on your thought process everything was in check for me.
THANK YOU for creating this honest video, I know it was hard but this exactly what we need to hear.
It's not only for watches, it's for fragances, clothes, shoes, or anything else.
Very valuable advice.
Hey Teddy. I feel like over the years you have talked about the ethics and responsibilities around this hobby. I've really appreciated that about your content, and it is why I've followed you. Thanks for being thoughtful and contextualizing our hobby.
Really good topic for those starting out in watch buying.
I always liked you, Teddy. But today you earned my respect.
I’ve been fortunate enough to have experienced both sides of the watch equation as a consumer and as a dealer/accessory manufacturer. It gave me an emotional perspective that few can say they’ve experienced. Having said this, my respect for you continues to grow the more I follow your channel. Teddy; you’re truly a class act and a credit to the industry. Keep up the great work!
Teddy, I appreciate this effort that you made in presenting the reality of today's culture of instant gratification. RUclips, TikTok and IG simply push false images of success and folks fall into the trap that having those pieces will bring joy. Very often, it simply means the very opposite when they struggle instead to find a watch that brings real satisfaction.
Your honesty, politeness and integrity deserve appraisal.
Kept up the great job, Teddy!
Brotha you spoke the truth and as a person who is now getting into the higher end Watches I appreciate you being real.
The eloquence of Teddy in talking about such a topic is really polished and clear. Great job!
Totally agree. I have my key watches that are worn all the time. I had an affordable collection that was massive and when I sold it all to reduce my clutter I lost a lot of money and that when it hurt. Keeping my collection small with ones I love has kept me happy and sane
I may do that but less face it Most buyers out there now Are "flippers" and most of my collection has virtuallly no resale value and the rest are too specialized for quick turnover artists!
As somebody who is just getting into collecting watches this is great advice. I started out wanting a Rolex but did some research and decided my first high end watch will be a GS Skyflake. Rolex will be a 2024 or 2025 purchase. In the meantime it is hard not to just impulse buy cheaper watches and jump in two feet first. I did just purchase a Seiko Presage SRPB77 from your website as I collect funds and find the right time to purchase the GS Skyflake. You are running a nice discount on the watch right now. But I find these sub 1000 dollar watches hard not to hoard because they are all so affordable and nice looking for the money. But hoarding them would prevent me from ever getting the Skyflake or Rolex and just fill a box full of watches I never wear and mean nothing to me.
Thanks for this Teddy. I always come here for your content because it is accessible and so well produced, but most of all it’s because there is a genuineness that I don’t see on other watch channels. And this video just exemplifies it.
This is an interesting timing, because today I bought my first over $3k watch after weeks of researching and thinking and going back to research again. It really takes effort to find the right watch, find something you love and can effort without getting into financial hardship. I'm watching this video now and it completes what I've been thinking and glad to be on the right path in this journey 🥳
One thing I can definitely recommend to fellow watch enthusiasts, always keep an eye on the second hand market. You can develop skills to find out if something is fishy about a watch and shop only from trusted sites/vendors. I found my Tudor BB 58 in a local watch store as a used watch. It was super clean and only 5 months old. It had the papers, cross-checked the serial number and did other authenticity checks. I got it 18% less than retail. Always be patient and you will find a good deal. Good luck!
Yeah I have a watch collection of 2: a 10 year old casio Gshock that I wear to the office (warehouse) and a nice Bulova mechanical that I wear out.
I will continue to live vicariously through you...
Respects to you Teddy. Not a lot think they have the moral responsibility to address this issue, and to hear it from you whose business revolves around watches is really encouraging.
You have my absolute respect for deciding to talk about a topic like this.
Teddy, this is TO THE POINT! ❤ I am going to save this video as my favorite.
Never borrow money to buy a watch!
Never hire debt if you can sell a watch.
I love the message of this video. Fiscal responsibility may not sexy or fun, but an unhealthy financial relationship with a hobby will make it much more likely that you need to abandon a hobby due to the hardship it causes. That un-sexy fiscal responsibility will make it easier to enjoy watches, or microphones, or movies for our entire live. Great work Teddy.
So your vice is microphones.. 😉
Teddy correctly iterates that you should only buy what you can afford. There is one other dark side to watch collecting : investors have come into the market to buy watches at profit to themselves and making many pieces unavailable and over list price. This is a relatively new byproduct from the easy money during the pandemic. I saw a video from another channel where an investor bought over $1 million of Rolex to hold and never wear with the intent of selling in 20 years from now! Karma would be if the S&P index will out perform his investment in Rolex!
That’s quite a gamble on luxury goods. I think we’ve been through a crazy period with easy money and my expectation is that it’s gone and it’s not coming back (could be wrong). I’m guessing the guy has lots of other investments and to be fair a quality watch will always have some value
Respect Teddy, very important video. To me people should stop rushing, do your research, start with cheap stuff to check what do you like and maybe after some years and once you have identified your preference, you can save and buy something fancy that if picked correctly can be your main watch for the rest of your life. But please keep impulse buying in check, it's very easy to fall into that trap with watches.
I really do appreciate you posting this, Teddy. I've done far too much sprinting (though never in a way that caused financial hardship) and recently developed some bumpers similar to what you outlined in the video. It'll be a slower journey from here. Your moderating voice has helped me stay grounded as I've gotten into this incredibly fun hobby.
This subject applies to everything in life. More people should talk about this.
A good subject to adress.I went on the watch journey from buying Stauer watches advertised in magazines to complicated JLCs.I realized each rung up the ladder did not bring a corresponding level of enjoyment.In fact the greatest rush I ever experienced in watch collecting was strapping on my first Swiss watch,a Tissot Visodate.
By far my favorite video by you. You wanna know why? Yesterday I purchased two orient bambino’s and got them today along with a watch case. However the case wasn’t filled up. So I thought to myself; “I need to fill this empty display case up” so about an hour before commenting this I bought ANOTHER watch (Citizen) and went to get lunch after ordering the purchase. As I sat down to eat I brought up YT thinking, “ya know maybe I should watch some Teddy Baldassarre and see if he has any new videos for more recommendations on what watches to buy” then I opened your channel and saw the most recent video and started watching it. This video was meant for me. As I watched the video it was a wake up call and reminder not to fall into the watch buying snare and it couldn’t have been timed any better! Thanks!
Started RUclips right on time :D
A very interesting topic and thanks for doing a video about it, Teddy! I started on the slippery slope of watch collecting in 2015 with low-key watches and ended up going higher and higher up the chain towards the luxury end of the market. Now, I was VERY fortunate to have had a salary that permitted me to buy watches without compromising (too much) elsewhere. Oddly enough, my life has now changed a huge amount after I quit my well-paid job last November and moved off-grid where I am doing up a house I bought. I'm now able to FUND that renovation in no small part by selling off those watches that I was able to wisely collect and take care of. As someone who finds it impossible to save money, I had a (frankly silly) amount of money tied up in watches and now that I no longer "need" those watches with my life having changed so much, I'm able to sell them without remorse, and put the funds towards what is important to me now. If I wouldn't have started collecting watches I wouldn't have saved anything CLOSE to the amount that is stored in them now and they form a (admittedly finite) source of additional funds now that I am letting them go. But this is my experience and vastly different to what many others will have gone through :)
I've fallen out of the line a few times. With a collection of 150... with more in boxes waiting to sell on ebay that I don't count as part of the collection... definitely been times I made poor decisions. Luckily, it's never set me or the family back or cost us anything we needed. However, there has been plenty of times I felt tight for no reason other than I bought too many watches I can't even wear...
Seeing your video was refreshing. Very admirable.
As someone who pays cash for everything, including homes that I own, I am always AMAZED at what people will finance.
Teddy, seeing this video shows you are something very rarely found: An honest salesman!
The gatekeeping and elitist attitudes can be detrimental - and can lead to unnecessary peer pressure to stretch one's budget - but I think a key element when it comes to spending is: keep an eye on that steep drop in diminishing returns when it comes to watch prices. This is true in a lot of luxury/enthusiast markets (including electronics and fitness equipment, which I unfortunately have all too much experience in as well.) If you're looking at a $500 watch and decide to see what doubling your budget will get, the difference in quality between a $500 and $1000 watch can be extraordinary. Take that to the next step, however - comparing $1k and $2k watches, and you often won't see nearly the same difference. With that price difference, it usually comes down to nicer finishing and maybe a nicer bracelet (heck a lot of $1k and $2k watches carry near-identical movements.) Bottom line: when you start to think about increasing your budget, take the time to really examine what each additional dollar is buying you.
Your advice applies to all kinds of addictions. You are always passionate, knowledgeable and entertaining about watches but you are also a most humane man.
Well said, collecting can become addicting and tuff to say NO. I have a watch savings account, That works best for me.
Like you said, watch collecting is a life time adventure. Don't compare your collection to others we are all in a different place but in the same conversation ....
Something I have been thinking about a lot recently Teddy. So glad you made this video. I have an $18,000 watch collection paid for with cash that I can well afford, but I still feel guilty about having so many sometimes. I am definitely going to hit the pause button on spending anymore money on watches and just enjoy the things I have instead of trying to find “the perfect watch”.
If we own more than 5 watches, we can consider ourselves as watch collectors so, from that point on, one should start drawing a collection plan based on introspection, personal preferences and more importantly, monthly budget to spend. Having a plan like this will take all out remorses and give us the joy of knowing our planned collection is going in the right direction.
I bought and owned 5 watches mindlessly at one time. It's really not for me. Sold everything except one flieger and it made me happier. Right now, I still enjoy looking at watches and I really put alot of thinking if I plan to buy another watch. For an average person, I feel that a 3 watch collection should suffice.
Great message! This has to be reminded once in a while to the masses.
Thank you for this post Teddy. It takes real integrity for you as a major watch retailer.
I got to one dozen watches about 12 months ago and said ok. That's it. Done. I have a lovely collection.
And just recently I've been eying a watch that I absolutely don't need, but finding it difficult to resist. Your post is very helpful
Teddy, this isn't the first time you've broached this subject. You have brought up a taboo topic in the hobby world in general, and it's about time it was discussed at length. I went off the deep end with another hobby, several years ago. Ever since then I have exercised restraint exactly as you put it. My watches are mostly cheap vintage Swatches in absurd colours and Casios. The only expensive watch in my collection is a Rado Diastar because I love that shape, and that's it. If acceptance in your community means that you need to bankrupt yourself in the process, then you can do without that toxicity.
Well done Teddy. Good topic and sensible observations and advice.
Very good advice Teddy. Definitely an important subject to
cover regarding sometimes can be an addiction 🤔
Thank you for making this video. People often don’t stop to consider their deeper motivations for collecting watches.
Have been collecting for over 20 years and have 30 watches in my collection. I follow the 10 and 1 rule. My watch collection and luxury goods should never go above 10% of net worth. Annual net purchase should never go above 1% of net worth. Hope this helps.
Just because you can buy a watch doesn't mean you can afford it. So far I've only purchased one watch after months of research, and I haven't experienced the urge to buy more watches yet but we'll see where it goes in a few months. Which reminds me, Teddy your customer service team is incredible. They're very knowledgeable, and super patient with me being a first time watch buyer. My first watch arrived a week ago and thanks to you team I found a good starter watch in the Tissot PRX Powermatic Ice Blue. Thanks for all the hard work you and your team have put into watches!
No matter how delightful a watch (or a fountain pen, or whatever) might be, I always remind myself "It won't make you happy". Of course there is joy in the appreciation of fine things & the stories behind them - but such pleasure serves to enhance, not substitute for, a life well lived.
Solid advice from a solid bloke. Thanks Teddy. I've followed your channel for 2 years now, ever since that seminal Vostok video. That led me down the watch collecting rabbit hole, for which I thank you. You have been pulling up trees with your variety and excellence of content. Long may that continue. Nice one. Mark.
Do you have any vostok watch?
Review please
Thank you so much for this video Teddy! This isn't just something with watches but I've noticed this is the case with any 'hobby' that is really just based on consumerism. A lot of people may start out because it's something that intrigues them and is a way to learn about something they didn't previously know enough about but very quickly these types of 'hobbies' can turn into addictions/retail therapy where the hobbyist begins to pursue the dopamine release of acquiring a new piece. The high only lasts a few days and then they want to experience that rush of getting a new piece all over again. It's really unhealthy and very destructive. Loads of respect to you for talking about this even though you're a watch dealer yourself.
Also I'm guessing Teddy listens to Dave Ramsay since he used that set fire to it analogy 😂
This is a topic that is discussed too little.
For me personally: I like a lot of watches that i "could afford" but then i couldnt safe money for a couple of month or would have to downgrade on vacations. Its hard to say no to something that you really like but KNOW, that logically it has to be low on your list of purchase prioritys.
This was very classy of you, Teddy. It's a discussion that needs to be had, rather than just joked about. Well done.
It’s a really responsible video to make. Also good philosophy around needs/wants in general. Kudos.
This is why I think Casio is GOD tier of watches. You don't have to break the bank to have great watches. Also they aren't thief targets. The more expensive the watch the more security is needed to protect them from theft.
ugly truth
Thank you for bringing this to us. I bought too many watches during Covid, but now I have 3 rules: don't credit finance watches, only buy ones I can easily afford twice and never impulse purchase just cause the watch may go out of stock. There are plenty of options out there.
So honest and compassionate. This is why Teddy is my favorite youtuber irrespective of subject matter. Honestly one of my favorite human beings I've never met.
I happened to meet him at 5 Guys a few months ago. He’s just as nice and cool in person!
Great observations. These can be applied to all of our interests and hobbies, and ultimately boil down to developing an honest and healthy relationship with our things.
You're absolutely right about this, Teddy. I have ADHD and a severe issue with impulsivity, especially around watches. If I see something I like, often I will just buy it regardless of the consequences. As a result, my watch collection has risen in number from just a few back in January to 13 as of today. Fortunately they're not hugely expensive watches, with the costliest at around £300, but I just caught myself looking at some second hand Rolexes and Tudors online, so there's no way I can delude myself that it's not getting a bit out of hand. I know this happens when I'm watching a lot of watch-related content on RUclips, so maybe it's time I cut back on that habit for a while.
Thanks for this video, Teddy. It may be the wake-up call I really need.
I really appreciate the transparency Teddy! It keeps you and this hobby down to earth when oftentimes, it feels really superficial and materialistic. Nobody should go into debt for a watch. Also, don't be ashamed of your collection. Everyone has to start somewhere. Appreciate with what you got because watches are an extension to one's personality and lifestyle. You don't need a certain watch or watches to be in the club.
So True. I often have found wanting, saving and searching for a watch is almost as satisfying as actually owning it. Constantly researching, watching videos, reviews and looking for it to me is more of a hobby than collecting it. When I get it I love it. Wear it often and eventually start going back to wearing others in my collection and looking for the next one. The more I collect the slower I have purchased them. I usually limit myself to one or two big purchases a year and a hand full of entry levels as I still love Seikos, Casios, Hamiltons, and the like and a have a big list of iconic vintage watches.
Another TED-Talk from the B man. Best watch content on RUclips
Your honesty and grounded consideration of this wonderful and amazing world of watches, and crazy prices, is what makes you different and the reason wy I follow your content more than any other watch related channel.
As a student in love with watches I've just discovered that what truly amazes me is watch mechanics, so I decided to get a starter tool kit for my birthday and some broken movements to get started. I already have a favourite whatch though, I hope I can afford it the day I graduate 😌
Great discussion. I’ve been collecting for 4 decades and decided I didn’t need more. I love the watches I have. What’s been distracting is I enjoy my Apple Watch more. It doesn’t require winding, it has a lot of functionality that my mechanical watches don’t have. I still wear my other watches because they are soothing and look good. Still kind of torn between technology and mechanics.
It's so easy for people to get sucked down a rabbit hole and buy things that are not in the budget. But, as Teddy said, watches are "wants" not needs. And here we are in 2023 where the economy is not good! We are all paying more for the basic essentials in life (i.e. groceries, etc.), let alone homes and cars that have sky rocketed in price. So it makes it all the more important that we try to make wise decisions with our money - otherwise live to regret it! Kudos to Teddy for making such a video. He gets that much more respect from all of us!
Excellent video! My problem was my collection getting too big, and actually creating anxiety, having that amount of money just sat in watches not being worn seemed ridiculous. I've now got into the habit of selling and consolidating the collection. I still have too many watches, but at least the ones I have I appreciate much more, and I'm trying to employ a one in one out system. The sad reality for me is that the more a collect, the more my tastes seem to get more expensive.
Fair play mate. Always delay the impulse buy, see if you still want it a month later. I find often I don’t. And there are so many “good” affordable brands these days, a collection doesn’t have to cost ‘000s
Great video and wise words. Watch forums/Facebook groups etc are the worst for making you feel inadequate. There is always someone out there richer or at least has a better collection and it's all too easy to try and keep up with all of them. Remember, in the main, these are people you feel like you know because you see and maybe interact with them daily but in reality are a bunch of strangers. Learn to appreciate what you have. Thank you for this video.
Thanks for a very important video. Like any addiction, there’s a dopamine drop that happens when attaining that latest purchase. It takes self discipline to control. Just remember the watch you want will always be there when you’re ready.
Like my wife with her bags, I had to blow past a unrealized comfort zone with any one piece to realize where my comfort zone actually is.
Pulled back, reevaluated and both are in a good place in our hobbies.
I'm a fairly high-level saxophonist, and recently I was at a stage where I was basically one step under having all the instruments I immediately saw as my "dream" horns. My finances recently got way, way better and over the past year, I've upgraded and sold off my old horns such that for 3 out of 4 categories, I have my unbeatable grail... And the fourth horn, I took to the shop for some repair (after waiting way too long) and found out that it still plays like a dream.
All that's left is for me to practice and play! I used to check my list of websites every morning and night looking to catch a last-second deal, but now I haven't even opened eBay or Reverb for a full month. Time to live it out and enjoy the dream collection I've built!
Glad you made this video. It shows that you actually care about your audience instead of just pushing them to buy, buy, buy so you can put more $$$ in your pocket!!!
So true. I know someone who spent 10k on a rolex, when he still had 30k in student loan debt and barely any furniture in his apartment. Its wild.
I appreciate your integrity, Teddy.
This is one of the only watch channels I like. Thank you for making such great content. No screaming fat idiot on this channel, no drop shipper guy with sunglasses who only loves what everyone else loves.
Thank you for being an honest and completely transparent person, you are a rare type of person 🙏👍
I agree, I think people should know where they stand financially, there are very affordable collectable watches available.
Wise words Teddy. It can definitely be a slippery slope if you aren’t careful with your spending on watches or other luxury goods. I certainly follow a few of the rules you laid out.
I don't think many people in any retail sector would have the decency to share sometbing like this about the risks of overspending. My positive impression of you grows with each video! What a great guy!
BRAVO! bravo, sir!
I was on the Tim Write show and asked him "How much should one's entire financial wealth/portfolio should be invested in watches?"
His reply: "1 percent"
. . .
Think about that.
What's it called, "cognitive dissonance"?
What he is saying is not what he does (or he is unimaginably wealthy and lying to his viewers about his personal finances).
Thank you Teddy!
Thank you for speaking sanity and unfortunately being the only one I've seen.
Well done, sir.
Great video, Teddy, and as a watch dealer/content creator it really speaks to your integrity to address this topic. Having followed you for the past 2 years, I am not at all surprised to hear you so eloquently and carefully discuss the risks to one's personal and family life that can come from overspending to keep up with others who may or may not be projecting their real situation on social media. To your point, I've recently had some discussions with very talented photographers/creators on Instagram who have been feeling the pressure to continually bring new luxury pieces into their collections in order to maintain interest from their followers. But the truth is this hobby is full of amazing people who don't necessarily care about the exact watch itself, but rather the person telling the story behind it and sharing his or her own unique way of appreciating watches.
Thanks for this Teddy. I know most watch RUclipsrs have very high taste. I myself have only owned seiko and Casio until recently when I purchased a Hamilton Murph 38 from your website for my birthday. My budget is never really over $1200 but a guy can dream. Very happy with what I own though.
To add to that. A watch doesn’t have to be pricey to be nice. And you don’t have to shop out of your budget to impress anyone. I love my $25 Casio as much as most of my other watches.
Well done. Courageous and honest.
As someone that is just starting off on my watch collecting journey this was a much needed video, it is all too easy to get caught up in the luxury watch echo-chamber today with RUclips and social media , the good thing is today there are more and more really good quality "budget" watches on the market today.
Excellent video Teddy. I recently purchased a BlackBay 58 for a milestone birthday. Must have visited the jewellers to look at one 5 times before I actually made the purchase, but knowing I was 100% getting the right watch for me
Good on you for posting this, Teddy!