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.

[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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[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.

[Onikage]

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

[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?

[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.

[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.

[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.

[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.

[othertbone]

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

[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.

[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.

[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

[brandrea]

SS watches have always been on trend at least ever since they were invented

[007_Omega]

Originally Posted by Likestheshiny

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.

My main point isn't that stainless steel in general is a fad but it is more directed at wealthy people who do not use their watches as tools, yet buy the stainless steel watch over the PM model when they can very well afford both.

Second point is that for certain models the PM option and the Steel option are becoming closer and closer in price to the point where it is ridiculous. Obviously not retail pricing but aftermarket. This is not just for Rolex but for other brands as well.

Stainless Steel is here to stay. I am in no way attacking it. I am a stainless steel guy myself but it has gotten out of hand. Stainless Steel Nautilus for nearly $70k? Rolex stainless steel selling for double retail and selling over two-tone prices?

People pay $18k for a Pepsi and $14k for a Hulk. These aren't people who can't afford to buy a PM model on the used market. That's the definition of hype. These same people would rock DD when that was the trend. That's the overarching point I am trying to make. Also, from my personal observations, the people paying these prices aren't treating their stainless steel watches as "tools" or testing the durability of steel over gold. There is no utilitarian purpose to the steel beyond it is vogue and what's hot.

The icons that wore these sports models and put them on the map used them because it best served their needs. Paul Newman raced cars, Jacques Cousteau dived, Hilary climbed the highest peaks, etc... Even the fictional characters like Bond and Magnum put their watches to the test. They weren't making a 100 investment threads, testing the dangers of desk diving, taking their watch off for a swim, etc... The reason the sports models sell for so much today is because no one ever thought they would be desired and worth so much. There are stories behind them and people who bought the original 4 digit sports models probably had a cool story to tell. We now tell stories of how we avoided the waiting list.

[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.

[Harry-57]

Originally Posted by 007_Omega

My main point isn't that stainless steel in general is a fad but it is more directed at wealthy people who do not use their watches as tools, yet buy the stainless steel watch over the PM model when they can very well afford both.

I would tend to characterise that logic as too much of a generalisation. For some people, possibly many people, it's not what people can afford, it's what they like. I find a lot of PM things to be gaudy. I prefer the look of a TT or SS. The exception being the Smurf. I love this watch. Buying one, or more than one wouldn't be a hardship. I just won't shovel that quantity of money into a watch. If my wife fell in love with it and wanted one, she would be wearing one next week. Like me, she would only love it for its looks.

Originally Posted by 007_Omega

Second point is that for certain models the PM option and the Steel option are becoming closer and closer in price to the point where it is ridiculous. Obviously not retail pricing but aftermarket. This is not just for Rolex but for other brands as well.

Ridiculous, certainly. Advantageous, possibly. If the cost to convert my Hulk to a Smurf goes below a certain level I will not hesitate. Regardless of what the market dictates, something I love in WG for around at the cost of it's very similar a SS sibling is the universe asking me to take an IQ test. The world is a strange place. Always has been. The strangeness just moves around. If I can work a stupid situation to my advantage without hurting anybody or stealing from them, it is my duty as an inhabitant of Earth to do so. Gotta enter into the spirit of it.

[peterpl]

Gold is still KING!!!! And that's from peers in the 25-35 year old bracket. (yes i am in that bracket)

Look it was quite simple for me. When I was 18-24 I could NOT afford any PM reference. That was left for the big ballers and millionaires hence why I only bought SS.

Move on a little and became somewhat successful in career and investment I jumped into PM at 29 years old. Simply because I always had loved PM and now I can actually afford the damn things.

Its simple really PM is out of reach of 90% of buyers. When I couldnt afford PM I remember I would always say to my watch friends PM was not for me....why? Because I was still growing career wise and it was a way to make myself feel better.

Now - farrrkk that. PM all the way - because I can actually afford it now without looking 3 times at my bank account making sure I had enough for living expenses. LOL

Its simple to me and I know its the same with many ppl. PRICE POINT!!! That is all.

$30-35k vs $10k SS. There are literally 1000s and 1000s more buyers of the $10k watch than the $30k+ watch.

[pearson1995]

SS is hot right now, PM is mid table, and Two tone is at the bottom. Big watches are in, small watches are out.

Im 23, I buy what I like, and I see the attraction in all. IMO PM is next to go up in price and SS will fall back.

Rolex watch crazes are like the Buddhist religion, it goes full circle

[abozz]

Originally Posted by othertbone

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

Exactly!

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[mmaggi]

Gold is still the bomb. Just look at the celebrities who are into watches. Sure, once in a while you'll see them wearing a SS watch. But for the most part they're rocking an all gold Daytona, AP or something else.

[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.

[AK797]

Social Media has made one-upmanship a global hobby/obsession now, so as harder to get trumps harder to afford, SS becomes more sought after even when its price starts to match those of PM.

[Sublovin]

It’s like you said, fad. I think it will change at some point and the solid platinum and gold day dates will be hot again, and people will laugh at the prices paid for subs.