Would you ever retire from your vintage watch collecting?

[cruvon]

Hi, thought this is an interesting question to ask, would you ever consider retiring from your vintage collecting hobby, much like retiring from a job, etc.:). I know people have many reasons for retiring, the most common being age and health, also would you consider retiring from this hobby well before the age/health angle strikes and why? All opinions welcome!!

As for me a bit too early to say since I have just stepped in but I would like to say till I kick the bucket:)

[toph]

hopefully not but sometime there are priorities that come far before being able to spend $5000-15000 on watches at regular intervals. if you have the bug you will never get rid of it ... its an addiction

[Frogman4me]

No, it will take me a lifetime to get half the watches I want to own.

[HL65]

Yes--I am thinking about it as I write this...Just not sure what to do with my watch collection... Never mind--I change my mind!

[Chris B]

I think there's more chance of the Pope knocking at my door this afternoon lol

[DiamondJack]

I probably ought to seriously consider retiring especially if I keep up the pace of the first 6-7 months of "more focussed" collecting.

Had a bit of a rollercoaster "carried away" white knuckle ride following a New Year's resolution and gone from 2 to something like 20 in a blink of an eye but now settling down a bit and taking my time over the selection process. Deciding on whether to get bigger grails and perhaps sell the wife and a couple of kids

I will do a thread later this week to show the journey so far.....

[Dan Pierce]

It's possible. I've already redirected my collection to reflect more important priorities.
dP

[93 Turbo]

hopefully not but sometime there are priorities that come far before being able to spend $5000-15000 on watches at regular intervals. if you have the bug you will never get rid of it ... its an addiction

Hey Toph, those priorities just push the time intervals out before dropping $ on a new watch. Cheers Jules

[bb3188]

Originally Posted by cruvon

Hi, thought this is an interesting question to ask, would you ever consider retiring from your vintage collecting hobby, much like retiring from a job, etc.:). I know people have many reasons for retiring, the most common being age and health, also would you consider retiring from this hobby well before the age/health angle strikes and why? All opinions welcome!!

As for me a bit too early to say since I have just stepped in but I would like to say till I kick the bucket:)

I dont think so San, For me, and I guess a couple of others here as well, I did not choose to get into vintage watches, it just happened that way as theses watches remind me a little of my childhood where the old boy and uncles had some nice pieces and I use to like the look of them... quite tough ...lol !
It could have easily been vintage motorbikes or pocketwatches or miniture steam trains if that was the go back then.....:)

cheers
Mark

[Paulie 50]

Originally Posted by Chris B

I think there's more chance of the Pope knocking at my door this afternoon lol

Hello, Benedict here.

[dddrees]

I've just begun the journey myself. So it's hard to say which direction I will go next. But then again I only have one vintage watch so far. But I have and I am enjoying the trip so far.

[seaop1]

Over the last 30 years my collecting has represented what the purse will allow. My first Rolex was an Orange hand just out of college and then life down sized my to Accutrons.
Then slowly back to Rolex with Omegas on the way. I'll always collect watches as long as they go tic toc.

[mike]

I think the short answer is no. Having said that I do think we go through a constant "re-evaluating" of where we want a collection to go. That means that sometimes pieces leave the fold as interestes and desires go back and forth.

To me collecting is not a job with an end goal in mind, but a constant search for that "special piece". I've always thought that is is the real fun in this hobby.

[phelix_da_kat]

It depends... what you define as retire.. I think at the moment my priorities have changed as I have a mini-me on the way. But I like to think one day I can come out of retirement..

So I would say I am currently on sabbatical from watches, it's an expensive habit, as my next targets are currently a Great White 1665 or a GMT 1675.

[HL65]

Originally Posted by mike

I think the short answer is no. Having said that I do think we go through a constant "re-evaluating" of where we want a collection to go. That means that sometimes pieces leave the fold as interestes and desires go back and forth.

To me collecting is not a job with an end goal in mind, but a constant search for that "special piece". I've always thought that is is the real fun in this hobby.

Well said my friend and couldn't agree more!!

[kyle L]

Ummm...nope.

[HL65]

Originally Posted by kyle L

Ummm...nope.

Kyle- you are far too young to retire from anything!!

[Jagatai]

I currently have two vintage Subs. One is at the Ridley spa, the second I wear every day.

I almost bought a third, but life got in the way and had to let that go.

If the right watch came along....

[MitchSteel]

I'm thinking about it, maybe flip one of my vintage pieces for a modern.....just dont wanna regret it later.

[Frogman4me]

Originally Posted by MitchSteel

I'm thinking about it, maybe flip one of my vintage pieces for a modern.....just dont wanna regret it later.

[onkyo]

Originally Posted by mike

I think the short answer is no. Having said that I do think we go through a constant "re-evaluating" of where we want a collection to go. That means that sometimes pieces leave the fold as interestes and desires go back and forth.

To me collecting is not a job with an end goal in mind, but a constant search for that "special piece". I've always thought that is is the real fun in this hobby.

... agreed.

I am trying to cap my annual acquisitions and pace myself .... which by the way has not been working.

[MitchSteel]

Thanks David.That motivational poster was enought to change my mind.

[bluemartinifan]

I am thinking just the opposite. When I retire from real work - can I set up a small biz to buy and sell to have fun and make a few bucks.

[DiamondJack]

Originally Posted by bluemartinifan

I am thinking just the opposite. When I retire from real work - can I set up a small biz to buy and sell to have fun and make a few bucks.

Funny you should say that, as I was talking to a guy the other week who had actually given up his small antique watch business about 5 years ago because the internet and on-line sale rooms/forums had effectively killed his chances of finding any bargains or, indeed, anything much below its true value. "Too much information and knowledge out there" where his very words and "the ability to find out what grandpa's or dad's old watch was really worth in less than a few minutes."

In his prime, he said he used to regularly pick up watches way below value in house clearances, jumble sales, boot fairs, second hand shops, advertisements etc etc. And made a good living passing these onto collectors etc.

I was just wondering how people like Jed, Mike, Eric, Jacek and Andrew etc source all of their watches or is it more of a volume business and low margins these days?

[Michael M.]

No way......

[bluemartinifan]

Originally Posted by DiamondJack

Funny you should say that, as I was talking to a guy the other week who had actually given up his small antique watch business about 5 years ago because the internet and on-line sale rooms/forums had effectively killed his chances of finding any bargains or, indeed, anything much below its true value. "Too much information and knowledge out there" where his very words and "the ability to find out what grandpa's or dad's old watch was really worth in less than a few minutes."

In his prime, he said he used to regularly pick up watches way below value in house clearances, jumble sales, boot fairs, second hand shops, advertisements etc etc. And made a good living passing these onto collectors etc.

I was just wondering how people like Jed, Mike, Eric, Jacek and Andrew etc source all of their watches or is it more of a volume business and low margins these days?

IMO - It takes hard work and time - the pro sellers build a network of people and companies who sell to them. They also frequent the watch shows. The world of successful sellers is small and reputation is critical.

[HL65]

The best hunters go places we wouldn't - traveling the world and having good relationships with small shops that take watches in on trade. They hit estate sales as well and as Russ said work real hard at it! They also spend a lot of money traveling all over world- not easy. As far as shows- they hit them too of course but the real dealing takes place in private rooms and parking lots not on tables. It is a tricky business and many guys work together whether you know it or not. Once they kow what you want if they don't have and someone else does it becomes a 2 dealer sale. Right now many are in NY at the IWJG show. They get together- have dinner tonight- hit show tomorrow- and there are no secrets among them. It seems like most know what is going on - who has what and who needs what and what prices are and were paid...Crazy how small of a world it is-make no mistake about it.

[Grissom]

I kind of retired years ago.....from buying with an eye to sell, that is! I bought and sold 1,000s of high end watches during the 70s, and 80s.....finally selling most everything in my "inventory" in the 90's when prices went up (to me, at least) astronomically (I now realize I should have held on to everything, looking at pricing today - hindsight is 20/20!!). Sold pretty much everything to the emerging guys from NY, Texas and Florida, at an NAWCC show, where they showed up with boatloads of cash. I sold each watch for many times what I had paid for them, and for many times what "I" felt was the previous "retail" pricing, when I had been actively selling. I kept what I liked, for me, and decided I was now "out of the business of buying and selling", as I simply did not feel comfortable buying and selling in that 4-5 figure+ environment. As has been said, I traveled a lot, and also had excellent relationships with pawn shops, coin dealers, metal dealers and road buyers.....I bought pretty much everything they offered to me, at prices such that I could flip to a dealer and make a profit, which I did on some, however, on most, I simply retailed them, through our family fine jewelry stores, and antique shows. I had great fun, and made great money, on the side, but when prices spiked tremendously, I did just that...."retire" from the buying and selling, and even collecting, and focused my efforts elsewhere.


Recently, I had the itch to buy a few watches, and thus jumped back in, joined TRF to get back into the swing of things, get up to speed, and then began buying, strictly for myself, but, as I had in the past, making every effort to buy such that should I want or need to sell, I would have a built in exit strategy.

So, I guess I eventually came "out of retirement" a few years ago....and now defer to those who have taken my place.....lots of work, for often a very short margin. I am liking just being a collector, to tell you the truth!!

Very thoughtful question/thread, Cruvon......thanks!

[DiamondJack]

Originally Posted by Grissom

I kind of retired years ago.....from buying with an eye to sell, that is! I bought and sold 1,000s of high end watches during the 70s, and 80s.....finally selling most everything in my "inventory" in the 90's when prices went up (to me, at least) astronomically (I now realize I should have held on to everything, looking at pricing today - hindsight is 20/20!!). Sold pretty much everything to the emerging guys from NY, Texas and Florida, at an NAWCC show, where they showed up with boatloads of cash. I sold each watch for many times what I had paid for them, and for many times what "I" felt was the previous "retail" pricing, when I had been actively selling. I kept what I liked, for me, and decided I was now "out of the business of buying and selling", as I simply did not feel comfortable buying and selling in that 4-5 figure+ environment. As has been said, I traveled a lot, and also had excellent relationships with pawn shops, coin dealers, metal dealers and road buyers.....I bought pretty much everything they offered to me, at prices such that I could flip to a dealer and make a profit, which I did on some, however, on most, I simply retailed them, through our family fine jewelry stores, and antique shows. I had great fun, and made great money, on the side, but when prices spiked tremendously, I did just that...."retire" from the buying and selling, and even collecting, and focused my efforts elsewhere.


Recently, I had the itch to buy a few watches, and thus jumped back in, joined TRF to get back into the swing of things, get up to speed, and then began buying, strictly for myself, but, as I had in the past, making every effort to buy such that should I want or need to sell, I would have a built in exit strategy.

So, I guess I eventually came "out of retirement" a few years ago....and now defer to those who have taken my place.....lots of work, for often a very short margin. I am liking just being a collector, to tell you the truth!!

Very thoughtful question/thread, Cruvon......thanks!

Great post and thanks for sharing.

Interesting to see the other side of the coin...... I've only ever been a collector or buyer and haven't really sold a thing - pretty much ever.

Not sure if I will ever get bored with my watches though and see that collection growing for quite some time to come. Although my biggest failing is giving stuff away, usually to make room for other stuff.........just can't resist the smiley faces on the receiving end.....and there are plenty of grateful mouths to keep on feeding in my life

[Frogman4me]

Originally Posted by MitchSteel

Thanks David.That motivational poster was enought to change my mind.

hahaha, my good deed for the day