We must all pick our battles, is THIS your finest hour?
The US dollar has depreciated 95% against the Swiss Franc over the past 40 years. This gives the false illusion that Swiss watches are expensive and appreciate in value. In fact the watches are still about the same price in Swiss Francs but the dollars used to purchase them are virtually worthless. The only reason the price of a Rolex or other Swiss watch continues to increase is becaues the dollar is worth less every year.
Dig up 3+ year old threads much?
Interesting read. Gregory obviously has refined taste but just doesn't seem to understand you can't explain that to a philistine like jacketwatch. Some people get it, others will never understand. Gregory - you would have had better luck teaching your dog algebra then explaining veblen goods to a plebeian.
Hey jacketwatch, there's a simple way to tell if something is overpriced: when nobody buys it and the company is forced to lower the price or go out of business. Fine mechanical Swiss watches are getting more & more popular while more & more people are snickering at TV brands. I'd take one Rolex over 2 dozen Steinfarts - and Rolex is the manufacturer I prefer LEAST of high end watches.
Now, the attached photo is a REAL watch.
A very nice example of the artistry in a finely finished movement... black polished screw heads, Côtes de Genève (Geneva striping) on the bridges with circular perlage on the plates below. Even the movement ring has fine guilloché scalloped engraving. A careful view of every small escapement parts and train wheels shows that each part has been carefully hand-finished. This is art in its highest form, deserving of the the Poinçon de Genève (Geneva Seal) on the far right side of the movement.
I can't immediately identify the movement, but Patek, Chopard, Cartier, V&C or Roger Dubuis are the usual culprits for fine work like this.
Thanks for sharing!
Gregory you are repeating the same tired and thoroughly misleading watch industry propaganda.
The real reason that Swiss watches are expensive is the massive marketing budgests and huge retail margins. These increase the price of the watch by a factor of 10.
There is no such thing as buying a watch as an investment. All watches lose value. In fact a Swiss watch is lucky to retain even 25% of it's value (adjusted for inflation) after a few decades even if it is in perfect condition.
How can gold-plating, engraving and blued screws possibly make a watch movement more accurate and reliable? An ETA is an ETA whether it is stock or refinished.
Any watchmaker knows that that there are many extremly cheap mechanical watches that last for decades. Even the Indian HMT watches that sell new for as little as $8 can easily last for 40 or 50 years with routine servicing. Many people have 40 year old Seiko 5 watches that are still ticking away reliably after 40 years without ever being serviced.
There are plenty of horror stories around about Patek Phillipe reliability.
Back in 1968, while on a 5 day R&R (rest & relaxation) in Hong Kong, I paid U.S. $ 250.00 for a brand new Rolex GMT Master chronometer in stainless steel with all the paper work. I still have the watch, only having it cleaned and polished one time at a authorized Rolex dealer in the USA. I gave the watch to my son. Today, this same watch runs in the neighborhood of $ 4,000.00. which so overpriced and anyone that spends so much for it needs to have their head examined, to put it mildly. Most Swiss watches are grossly overpriced. I don't care for Rolex because I now prefer a larger size 47mm/48mm case on my timepieces, not the 40mm Rolex sized case.
RE: Steinhart and its value...
I Bought a Steinhart OVM, for around $400 US brand new from steinhart, have recently sold it for $600 US 2 years later.
I also recently bought a Steinhart Ocean one Bronze for about $420 US I believe, also brand new from Steinhart. The day I bought it, I checked Ebay and saw one being sold by an American, Brand new for $550 and another used for $499, both sold. (people obviously dont trust buying from europe or think they'd have to wait too long to receive it, which they wouldn't Steinhart has incredibly fast shipping as long as they aren't on vacation)
My point being, some ETA based microbrands do retain and increase in value. This is not a phenomenon inherent only to high end luxury swiss watches. This doesn't mean that all ETA based microbrands will retain or increase, but some do. Others that do well are Oris, Christopher Ward, Longines, Breitling, IWC, etc...all of these use ETA, some are microbrands (Christopher ward) others are major brands (Longines, Breitling, IWC)