Stainless Steel Obsession a Fad (NOT AN INVESTMENT THREAD)

[007_Omega]

Just some thoughts I'd like to share. Personally, I've mostly been a SS fan. I'm a young enthusiast as far as watches go. Yet, it's obvious for years that SS was an entry level option. Many bought it because it was what they could afford or if we go back far enough when it was a genuine tool. Yes, some people genuinely just preferred SS but it wasn't anything like today. I happen to be one of those people.

We don't have to go back too far to when the DD was the envy of many and a two-tone Datejust was a reachable goal. SS watches always had their demand but people weren't treating them like gold. They were a tool and/or achievable symbol of utilitarian success.

Now fast forwarding to today, we see people clamoring for SS sports models even though they can afford precious metal options. SS is the new PM. It has come to the point where a SS Daytona sells for almost the same as a PM version. Are these people using their Daytonas as hardcore tools that they need the added resilience of steel?

I think we've focused too much on SS, when the SS craze is really a product of the other fads around us.
- Large, Overbuilt SUVs that cost a fortune and scream off-road capability when 1% of the buyer market even uses what is built for (*cough* SS sports models)
- Casual clothing craze. Wearing a tailored suit isn't the symbol of the trendy rich anymore. Going out in an expensive ath-leisure outfit with a SS sports model screams a desire to look/feel younger.
- The overall success of marketing selling experiences and adventure, even if the end-user is buying an idea rather than living the ethos.

I once had to pleasure of meeting a wealthy South African gentleman who was wearing a JC Deepsea. He was an avid diver and we spoke about watches/life. He wore his Deepsea on almost every dive he went on. He actually used his Land Rover for off-road capabilities and harkened back to his South African youth when it was truly a car built for purpose. He was also in good shape and built like a tank. He embodied the products and the promises of adventure that they sold. I tell this story because he is truly the minority. Others aspire to be like him but buying the products doesn't make you the person.

Frankly speaking, I truly believe those in my generation who are interested in luxury watches will also crave PM if they can afford it. Luxury watches for many in my generation is strictly speaking a nice thing to look at/show off and a pure symbol of success. It is in no way shape or form a "tool" or a symbol of adventure. I may not fit that mold but that is my observation.

[Mystro]

‘Your generation”. How old are you? A lot of affluent watch enthusiast don’t want/like the added weight of PM. A 260 gram watch compared to a 150 gram watch is a hell of a difference in comfort in the same size watch. The materials/status connection isn’t as significant now. Consider that high-tech materials in high end watches like carbotech, forged carbon are more money than almost their pm counter parts because of their machining, engineering, superior durability and design. Much like why a carbon fiber Ferrari is more money than a steel body. It’s not the material that always dictates it’s desirability.

[007_Omega]

Originally Posted by Mystro

‘Your generation”. How old are you?

Late 20s. Also, I don't see watches the same way many my age do. Especially those younger than me which for the most part see a luxury watch as a nice looking accessory. They have their phones to tell the time. That's from their mouths not mine. I'm always curious to see what non-enthusiasts think.

[Sublovin]

Originally Posted by Mystro

‘Your generation”. How old are you? A lot of affluent watch enthusiast don’t want/like the added weight of PM. A 260 gram watch compared to a 150 gram watch is a hell of a difference in comfort in the same size watch. .

Sorry, but that is complete bs. I can’t imagine one person ever who based a SS vs PM decision SOLELY based on weight! I have many SS pieces that weigh more than my PM pieces. There are many reasons, but this isn’t one of them.

[Mystro]

Originally Posted by Sublovin

Sorry, but that is complete bs. I can’t imagine one person ever who based a SS vs PM decision SOLELY based on weight! I have many SS pieces that weigh more than my PM pieces. There are many reasons, but this isn’t one of them.

No one ever said weight was the only reason but it is a significant contributing factor to consider in a PM purchase.
A platinum DD wears a lot different than a DSSD JC on the wrist.
Weight is a issue for me and how it is distributed throughout the watch. I tend to wear watches in my collection under 170 grams a lot more often. The argument of buying SS over PM because of financial limitations does not apply as much as people think.

[dtwer]

SS Rolexes are hot because people want Rolexes, and the SS Rolexes are priced at a point where they are within the reachable range of most buyers.

I have no doubt if Rolex were to raise the MSRP of the ceramic Daytona to $20K, the wait list would evaporate overnight.

[djgallo]

Originally Posted by dtwer

SS Rolexes are hot because people want Rolexes, and the SS Rolexes are priced at a point where they are within the reachable range of most buyers.

I have no doubt if Rolex were to raise the MSRP of the ceramic Daytona to $20K, the wait list would evaporate overnight.

I wouldn’t bet on it. So the people that are currently paying 22K-26 for the SS Daytona's wont go buy the Daytonas for 20K???? So how does it change the wait list???

[CashGap]

Originally Posted by Sublovin

Sorry, but that is complete bs. I can’t imagine one person ever who based a SS vs PM decision SOLELY based on weight! I have many SS pieces that weigh more than my PM pieces. There are many reasons, but this isn’t one of them.

Also... I can't tell the difference on my wrist after wearing for sixty seconds.

When picking watches up in the hand, certainly, but I don't notice while wearing.

I'm not very fast anyway... 100g isn't going to slow me down much!

[Keyetty]

So long as I get $1 more back than I paid when I bought it, I don’t mind whatever. Wear mine for fun, nothing more.


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[arcadelt]

Originally Posted by Keyetty

So long as I get $1 more back than I paid when I bought it...

Really? Never owned a depreciating watch just for fun?

[ndrs63]

Originally Posted by Keyetty

So long as I get $1 more back than I paid when I bought it, I don’t mind whatever. Wear mine for fun, nothing more.


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10 years later getting same amount is in fact a significant loss. You should wear your watch because you like it, not because you don’t lose money on it. I’m beating a dead horse, I guess

Ps:
As OP mentioned, not an investment thread


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[Jona]

When I seriously got into decent watches in 2002 I never considered PM's as they were simply unaffordable to me. Now, retired and 70, I was able to afford a YG Sub and my thinking moved toward PM.

This was fueled, as the OP noted, partially by the high prices for SS. As far as other fads, I live modestly on SS and a few other lifetime income streams. My entire "wardrobe" can be replaced for probably under $1k.

I don't know that the SS craze is a product of other fads, but I think a huge motivator is FOMO. Honestly I wonder how many Daytonas would NOT have been bought if they were plentiful in showcases.

[007_Omega]

Originally Posted by Jona

When I seriously got into decent watches in 2002 I never considered PM's as they were simply unaffordable to me. Now, retired and 70, I was able to afford a YG Sub and my thinking moved toward PM.

This was fueled, as the OP noted, partially by the high prices for SS. As far as other fads, I live modestly on SS and a few other lifetime income streams. My entire "wardrobe" can be replaced for probably under $1k.

I don't know that the SS craze is a product of other fads, but I think a huge motivator is FOMO. Honestly I wonder how many Daytonas would NOT have been bought if they were plentiful in showcases.

We have a history of Daytonas being readily available in showcases for sale. It was one of the least popular models and some ADs were basically giving them away.

The Paul Newman craze brought demand up and the Daytona was re-marketed as a very desirable racing heritage watch that was top of the stainless steal line. Increased polishing, higher quality bracelets, and eventually a movement that truly stood out in the line.

Daytonas are also a unisex watch and demand is high for both men and women. I frequently spot women with PM versions and it seems guys are craving the SS.

[Onikage]

SS genuinely is more wearable. It's lighter and tougher. I love gold but it went out somewhere in the 90s LOL.

[huncho]

Originally Posted by Onikage

SS genuinely is more wearable. It's lighter and tougher. I love gold but it went out somewhere in the 90s LOL.

gold has been back though

[Mystro]

When PP, AP as well as Rolex SS watches all exploded at different price points, it’s no longer a fad. Style and fashion is cyclical but in the Rolex world SS watches always held their value more for the last 4 decades. It isn’t a coincidence that precious metals like white gold and platinum are also more popular now than yellow gold on watches so I don’t think it is SS exclusive.

[Harry-57]

I don't particularly care about my "generation", my peers or other watch geeks and lovers. I do what suits me. Sometimes my needs and wants coincide with a prevailing trend, sometimes not. I've always loved the straightforward, blingless aesthetic of a nicely engineered and presented,. quality SS mechanical watch. And that hasn't changed.

The reason I'm now going for TT models is because I like them, I can actually buy them, or at least get listed for them at my AD, and because they have higher material value than their SS siblings, which frequently cost more on the grey market. I went grey for my SS grail. I have it now and I don't regret it. Going slightly bonkers once in a while can be strangely therapeutic - if you don't make a habit of it and don't ruin yourself.

[007_Omega]

Originally Posted by Harry-57

I don't particularly care about my "generation", my peers or other watch geeks and lovers. I do what suits me. Sometimes my needs and wants coincide with a prevailing trend, sometimes not. I've always loved the straightforward, blingless aesthetic of a nicely engineered and presented,. quality SS mechanical watch. And that hasn't changed.

The reason I'm now going for TT models is because I like them, I can actually buy them, or at least get listed for them at my AD, and because they have higher material value than their SS siblings, which frequently cost more on the grey market. I went grey for my SS grail. I have it now and I don't regret it. Going slightly bonkers once in a while can be strangely therapeutic - if you don't make a habit of it and don't ruin yourself.

I'm generally the same way. My preference for SS simply corresponds to the trends of now. Had I been older and been buying these watches in the 90s, I'd still be buying SS models even if the preference was to go with 36mm Datejusts and DDs.

Many on the forum are the same way. Others are not. How many people could care less about the 15202 or 5711 several years ago? Now they sell for massive premiums and it seems like everyone wants one. Those 2 models are gold made of steel and then some. I really doubt the preference for these models in steel has to do with the fact they can take a beating as their owners use them as true sports watches.

[locutus49]

I turn 70 soon and I like white metals. I have owned and like SS, WG, and Platinum. I have never cared for YG or RG. So all my accessories, like belt buckles, buttons, etc. are white metal. Just a thing with me. Maybe I started the fad, who knows.

[othertbone]

As society has become more casual, so has it's watch tastes

[abozz]

Originally Posted by othertbone

As society has become more casual, so has it's watch tastes

Exactly!

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[csaltphoto]

I'll tell you this. I'd take a platinum sub in a heartbeat if the Pt was fairly priced (and if they made one...); say a 7-8K upcharge. That would be one tough, anti-corrosive watch and totally under the radar. But what Rolex charges for the PM upgrade is crazy. The PM is worth what it is worth and there is no way that Pt or Au is harder to work than 904L.

[Fleetlord]

It's very simple.

The overall market wants a luxury watch that can go from the beach to the boardroom without doing anything. SS Sports Rolex fit this perfectly. Gold watches have a perception of being too delicate and fancy...and that doesn't scream versatile.

Overall exclusivity now is not a function of whether they are crafted in PM or SS, but how available they are and what must be done to obtain one. The harder to obtain, the more exclusive = COOLER.

Combine this with the low key retail price that SS offers. This allows for strong value retention or even appreciation. The hypebeast market LOVES an $8500 watch, that is "worth" $11,500 and YOU can't have it. Sooooooo cool and on trend.

Now there are a few PM references that do this, but the cost of entry is high to begin with, so depreciation is far more common, which is decidedly UNCOOL.

[Tools]

Everything is a Fad that comes and goes.


I hope that striped bell bottoms don't come back though.

[123Blueface]

Originally Posted by Tools

Everything is a Fad that comes and goes.


I hope that striped bell bottoms don't come back though.

More tolerable than the plaid patterned ones.

[mountainjogger]

Originally Posted by Tools

I hope that striped bell bottoms don't come back though.

Yes. If ever there was a style that should be banned...

[mountainjogger]

Originally Posted by Fleetlord

It's very simple.

The overall market wants a luxury watch that can go from the beach to the boardroom without doing anything. SS Sports Rolex fit this perfectly. Gold watches have a perception of being too delicate and fancy...and that doesn't scream versatile.

Overall exclusivity now is not a function of whether they are crafted in PM or SS, but how available they are and what must be done to obtain one. The harder to obtain, the more exclusive = COOLER.

Combine this with the low key retail price that SS offers. This allows for strong value retention or even appreciation. The hypebeast market LOVES an $8500 watch, that is "worth" $11,500 and YOU can't have it. Sooooooo cool and on trend.

Now there are a few PM references that do this, but the cost of entry is high to begin with, so depreciation is far more common, which is decidedly UNCOOL.

For me, I just like stainless better. But I think you nailed the public demand for SS.

[Bigblu10]

Originally Posted by Fleetlord

It's very simple.

The overall market wants a luxury watch that can go from the beach to the boardroom without doing anything. SS Sports Rolex fit this perfectly. Gold watches have a perception of being too delicate and fancy...and that doesn't scream versatile.

Overall exclusivity now is not a function of whether they are crafted in PM or SS, but how available they are and what must be done to obtain one. The harder to obtain, the more exclusive = COOLER.

Combine this with the low key retail price that SS offers. This allows for strong value retention or even appreciation. The hypebeast market LOVES an $8500 watch, that is "worth" $11,500 and YOU can't have it. Sooooooo cool and on trend.

Now there are a few PM references that do this, but the cost of entry is high to begin with, so depreciation is far more common, which is decidedly UNCOOL.

PM watches are no different than going out and spending 100K on a Cadillac Escalade. Most are not concerned about the depreciation factor. It is about the nameplate and the bells and whistles. Most who buy a PM Rolex buy it for the rest of their lives including myself. I could care less about depreciation, the watch will go to my daughter. Not be sold in the classified ads.

[marcusp23]

OR - SS is a better metal for watches than gold

[Likestheshiny]

Frankly speaking, I truly believe those in my generation who are interested in luxury watches will also crave PM if they can afford it.

But since a majority will always be unable to afford PM, the interest in steel will always remain, and therefore it isn't a fad.