Stainless Steel Obsession a Fad (NOT AN INVESTMENT THREAD)

[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.

[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...

[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.

[superdog]

Originally Posted by Sublovin

Interesting perspective. I would think $15,000 SS sport watches is an aberration, especially when there are more accurate tools available for thousands less. but what do I know. None of it really makes sense

Originally Posted by Sublovin

Correct. That’s my point...it’s interesting that people think PM is where it becomes goofy when in actuality you can achieve all the same results for a few hundred bucks. These are all overpriced luxury items, but people draw imaginary lines in places.

Reading through all this, and I think these two posts are great.

Imho, this is not a game of logic. It’s a game of passion. For some, the passion comes from the hunt. Others like that they are getting exclusivity. The lines have certainly been blurred over the last few years between SS and PM.

Both are hard to get, but for different reasons.

In regard to the OP, the example he used is great.

Today tho, those badasses are not on social media or trying to create an image for themselves. They are just living. And the gear they use today might very well be the “it” thing in the future.

I think all of this is way overthought. But that’s the way of things today. I’m certainly a prime example of it. For better or for worse.

Really, none of it makes sense. Passion typically doesn’t.

[Goonthree]

I got into because of the hunt and challenge. The challenge is buying a ss hot watch from ad not grey market. I only buy AP watches until someone says how hard to get these SS watches from ad. Then I set my sight on getting ss Daytona white dial which I was told was the hardest

[SeikoBake]

Only those of us who work with and have intimately studied steel (metallurgy) will really appreciate this comment: steel is not what it used to be. 904L is not your grandfather (or fathers) steel.

Believe it or not, steel makers all over the world have made several advancements in the last decade, that I believe results in a much more superior product than what it used to be. I’m talking about hydrogen removal, ladle analysis, and even hot and cold rolling techniques, not to mention advancements in tempering, coating, and treating.

What I’m saying here I believe results in a much more advanced, and hence stylish component of what we see in stainless steel wrist watches today.

[DJTOSUB]

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.

We now tell stories of how we avoided the waiting list.

Lots of folks don’t like yellow gold is sports watches. Too blingy, loud, and not well suited to the tool aspect. Plus high quality SS is both durable and beautiful.

Gold is more suited to a dress watch like a Patek especially with a leather strap.

Having said that, I would take a solid white gold or platinum Daytona (if offered), but would be tough to justify over price of SS.

LOL - regarding comment on telling stories of how folks avoided the wait list or actually got a hot reference at retail. So true today.

[SkyJuice]

welcome to the Rolex world of insanity, where some SS model cost more than PM.

[TimeToWatch]

Beyond the current SS phenomenon, one could say that mechanical watches as a whole are a "fad". I mean, does it make any logical sense to buy a mechanical watch these days when an Apple watch keeps far better time and offers far greater practicality?

Our insatiable appetite for mechanical watches and more narrowly, stainless steel Rolex is completely alogical. It boils down to masterful marketing and positioning by luxury watchmakers like Rolex.

When faced with the existential threat of quartz watches in the 70s, mechanical watches were no longer a necessity, so the industry reinvented itself by positioning tool watches as luxury watches. This strategy succeeded and some of the greatest years of Rolex's history followed.

Now that the industry is again faced by the existential threat of smart watches, it is likewise repositioning itself as even more of a luxury good, some would even say a Veblen good. By definition, demand for a Veblen good increases as prices rise, contradicting the laws of supply and demand. How is this achieved? By taking advantage of basic human nature that people want what they can't have. If I told you that you could have a stainless Submariner at 10% off retail whenever you want it, no one would be interested. Instead, if I drastically cut supply and told prospective buyers that the Submariner is a very exclusive, highly coveted watch that trades 50% above retail and is a safer investment than a blue chip stock, people would line up around the block at the chance to buy one. This is what we're seeing and it is a mastery of marketing by Rolex.

[Blansky]

For me I doubt I'd spend money on precious metal watches unless there was one I really wanted that only came in precious metal.

I just don't see the payoff of white gold or platinum. I know others love the look or the feel but for me, SS is just fine and with the extra money I can buy more watches.

If I had too much money it may be a different story.

[Docaw007]

+1 This is the driving factor to me. SS allows entry to the brand that was out of reach previously which is exactly why Rolex created the SS models in my mind to start brand loyalty and get a whole new market segment.

[watchwatcher]

Originally Posted by superdog

Reading through all this, and I think these two posts are great.

Imho, this is not a game of logic. It’s a game of passion. For some, the passion comes from the hunt. Others like that they are getting exclusivity. The lines have certainly been blurred over the last few years between SS and PM.

Both are hard to get, but for different reasons.

In regard to the OP, the example he used is great.

Today tho, those badasses are not on social media or trying to create an image for themselves. They are just living. And the gear they use today might very well be the “it” thing in the future.

I think all of this is way overthought. But that’s the way of things today. I’m certainly a prime example of it. For better or for worse.

Really, none of it makes sense. Passion typically doesn’t.

Amen, brother.

Once you've spent over a thousand dollars on a watch, you've lost the right to draw the line where insanity begins for someone else.

[superdog]

Originally Posted by watchwatcher

Amen, brother.

Once you've spent over a thousand dollars on a watch, you've lost the right to draw the line where insanity begins for someone else.

[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!

[lewahooligan]

I like SS because I can afford it (kinda), I don't worry about every scratch, and I don't get too much attention.

Would I like to have a YG DD? Absolutely. But I don't think I could pull it off between the price, worrying about every single scratch, and also wearing it amongst my millennial peers.

[wilsonpepper]

Originally Posted by peterpl

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

What authority or survey are you quoting ?

You can't get a gold Daytona with a green face, just like you can't get a Stainless Pepsi GMT, right ?

There are lots of people with money out there, buying lots of gold and platinum watches (not just the Rolex brand).

[exador]

Originally Posted by TimeToWatch

If I drastically cut supply and told prospective buyers that the Submariner is a very exclusive, highly coveted watch that trades 50% above retail and is a safer investment than a blue chip stock, people would line up around the block at the chance to buy one. This is what we're seeing and it is a mastery of marketing by Rolex.

Except Rolex didn’t do anything of the sort.