Back when I became a watch collector in 1990, it was a totally different world and people collected watches because they were fascinated with the micro-engineering aspect of it but also because of their appreciation in terms of craftsmanship and status. When I decided to start collecting watches, I wanted to be fascinated with the ability to wear a savings account on the wrist and I started putting my savings into watch collecting.

People collect things for a variety of reasons, ranging from personal enjoyment and passion to psychological and emotional motivations. Collecting can become a fulfilling and meaningful hobby that provides individuals with a sense of purpose, connection, and accomplishment. While many of us like to also collect other things such as art, coins, stamps, vintage autos, bags, backgammon sets, shoes, cigars, perfumes, writing instruments, swimwear, and sunglasses, just to name a few, there are others that are exclusively into collecting one particular type of thing.

Many collectors are genuinely interested in the items they collect or just because they find them visually appealing. Their passion drives them to learn more about the objects, their history, and their significance, allowing them to deepen their knowledge and appreciation. For some collectors, collecting items from the past can evoke feelings of nostalgia and help them reconnect with their memories and transport them back in time, allowing them to relive moments from their past. In my case, I went through a phase where I bought a lot of vintage Rolex watches because they would take me back to my childhood.

If you’ve read my editorial about the Left-Handed Rolex GMT-Master II ref. 126720VTNR and how it touched my heart, then you already know what I am talking about. If you have not, here’s a brief explanation of how I fell in love with Rolexes in the first place. Let’s go back to Mexico City in the late 1970s when I was not even a tween yet. At that time, a distant cousin of mine whose nickname was ‘El Chico’ would come for dinner at my parent’s house and he would always be wearing a different Rolex or Tudor watch.

On my cousin’s wrist, I saw half a dozen different Rolexes and four to five different Tudor watches —I still wonder what happened to his watches after he passed. His favorite Rolex and the one that he would wear the most was a gorgeous GMT-Master Pepsi ref. 1675. At that time I didn’t understand why he also had another GMT-Master ref. 1675 with a solid black bezel that to me back then looked almost identical. Now looking back, I can see that ‘El Chico’ was the first real watch collector —just like all of us— I was exposed to and that I happened to admire.

But what is really driving our desire to collect watches & become watch collectors?

Well, back before this unreasonable market bubble, it was pure enjoyment and the intellectual stimulation that collecting often involves going all the way from research, learning, and exploring the hobby. Also, watch collecting typically leads to social interactions and connections with like-minded individuals, and through these connections, we bond with other collectors through clubs like Red Bar Group, watch fora like Rolex Forums, and attend events or get-togethers where we can share our passion. I’ve personally established longtime friendships with several watch collectors that are now friends for life and where watches were the initial common thread that bonded us, to begin with.

Building a collection involves setting goals, seeking out rare pieces, and overcoming challenges. Successfully acquiring desired watches gives collectors a sense of accomplishment and fulfillment. Meanwhile, collecting historical watches or significant references in the world of horology can provide a connection to the past and a deeper understanding of how watchmaking has evolved over the centuries. These watches —mostly iconic pieces— can serve as tangible links to moments in history.

Nowadays, the investment potential drives watch collecting like never before. The idea is that some of these watches we collect will appreciate in value over time becoming valuable investments, and the potential for financial gain can be an additional motivator. Back when I started collecting, this wasn’t the collective mindset, but around 2008 or so I came up with the phrase: “Watches are the new currency” and posted it on my Rolex Forums account as part of my handle signature. I guess I was predicting the future to a certain extent.

For some, watch collecting provides emotional comfort and stability. The act of organizing and categorizing items, along with the familiarity of their collection, can create a sense of order and predictability. Watch collectors often develop a passion for timepieces and may focus on specific brands, styles, historical periods, or technical features. There are some watch collectors that like to collect limited edition watches, others like chronographs, perpetual calendars, and vintage pieces, while there are some that will exclusively collect diving watches, iconic models, or unique pieces. There’s always a little bit of everything for everyone.

Watch collecting can also have therapeutic benefits, despite what many might think. The release of dopamine that we get when we buy a new watch is so amazing but addictive, that at times we find ourselves craving another new watch within weeks of just buying one and in some extreme cases in just a few days. The process of finding the watch we want and finally getting it gives us a rush that nothing else will. But then, after wearing it a few times sometimes we need another kick of dopamine.

Then comes the idea of hoping to create a legacy by passing down a watch collection or specific watches to future generations. I mean, Patek Philippe’s tagline created in 1996 clearly states: "You never truly own a Patek Philippe, you merely look after it for the next generation."

Overall, watch collecting is a diverse and multifaceted hobby that can offer a range of emotional, intellectual, and social rewards. Whether driven by personal interests, nostalgia, or the desire to connect with others, people find immense satisfaction in curating and maintaining watch collections that hold significance to them.

The Basics of Watch Collecting

• Motivations for Collecting: Watch collectors are often driven by a combination of factors, including a love for craftsmanship, design, history, and the desire to own unique or limited-edition pieces. Some collectors also view watches as investments, as certain timepieces can appreciate in value over time. You need to determine why you decide to collect watches but always keep in mind the horological aspect.

• Types of Watch Collecting: Collecting can encompass a wide range of interests, including vintage watches, modern luxury watches, specific complications —such as chronographs, tourbillons, annual calendars, perpetual calendars, minute repeaters, etc.—, military watches, sports watches, and more. Some collectors may focus on a single brand or era, while others enjoy a diverse collection.

• Research and Knowledge: Successful watch collecting often begins with extensive research. Learning about different brands, models, movements, materials, and historical context can help collectors make informed decisions and appreciate the intricacies of each watch. And most importantly, doing your homework will allow you to make the right purchase decisions and always “buy the seller.”

• Authenticity and Condition: Authenticity is crucial in watch collecting. Counterfeit and replica watches are common, especially for popular luxury brands. Collectors need to verify the authenticity of a watch through provenance, documentation, and expert examination. Additionally, the condition of the watch greatly affects its value, with factors such as scratches, dents, and original parts playing a role.

• Provenance and Documentation: A watch's provenance, or its documented history of ownership, can significantly influence its value. Watches with clear and verifiable histories are often more desirable to collectors. Full sets and collector’s sets are more sought-after than ‘naked watches’ —no box or papers.

• Value and Investment: While some watches can appreciate in market value, it's important to note that not all watches are good investment opportunities. There are some watches that don’t even represent an investment but are more of a loss. Market trends, rarity, brand reputation, and demand all play a role in determining a watch's potential value over time. Buying at the right price will guarantee that at the time you sell or trade, you will break even, make a profit or lose no more than 3-5% of what you paid.

• Building a Collection: Building a watch collection requires careful curation and consideration. Collectors may choose to focus on a specific type, era, complication, or brand that resonates with their interests, lifestyle, and personality. Diversification within a collection can also help mitigate risks associated with shifts in market trends.

• Community, Events, and Lifestyle: Watch collecting often involves connecting with a community of fellow enthusiasts. Collectors attend watch fairs, exhibitions, auctions, and online fora to share knowledge, discuss watches, and sometimes trade or sell pieces from their collections. The lifestyle of watch collectors seems to be held by a common thread with certain likes, experiences, and preferences. All about watches and the good life.

• Care and Maintenance: Proper care and maintenance are essential to preserve the value and functionality of watches. Regular servicing, storing watches in appropriate conditions, and handling them with care can extend their lifespan. Keeping these watches insured and in a vault is also important.

• Personal Enjoyment: Ultimately, watch collecting is driven by personal enjoyment and passion. Each watch in a collector's collection carries a unique story and represents a piece of horological history.

Remember that watch collecting is a deeply personal endeavor, and each collector's journey is unique. Focus on the journey and not on the destination. Whether you're drawn to vintage pieces with historical significance or contemporary watches with cutting-edge technology, the world of watch collecting offers a diverse and captivating landscape to explore. Wear what you like and what makes you tick.

As watch collectors, watches are part of our daily lives and they collect memories as we tell time through them. All watches have a story that is passed down from one owner to the other. This moment is your life!