We sat down with our very own Jason the Gemologist and asked him to give us the straight talk on one of his greatest passions: watches.
From the onset, he made it his goal to move Venus Jewelers forward as a serious contender in the competitive luxury watch market. Despite the odds, he managed to become known as the go-to guy for excellent values on both the hard-to-find and classic investment timepieces.
Jason dreamed up Whiskey & Watches, an invite only watch show on Friday, Oct 15th, from 4-9pm as the perfect pairing of displays in craftmanship. To bring together like minded connoisseurs in one place to celebrate, learn, and connect is his single-minded mission for this event. Learn more about Whiskey and Watches at venusjewelers.com or Instagram.com/jasonthegemologist.
Full interview:
D: Why invest in watches?
Jason: Ah, one of my favorite questions. Here are three of many, reasons why you should invest in luxury watches. First and most importantly, to diversify your ASSETS. Oh yes, I said it! Investing in luxury watches is a great way to "diversify" assets, especially if you have money lying in a savings account. Since the 1970's, the price of a Rolex watch has NEVER depreciated. EVER. This is because the demand for specific timepieces far exceeds the supply, aka, "the production", causing a HUGE bubble in prices between the retail and secondary market. It has gotten to the point where specific models have crazy wait lists, up to 7 years, just to buy them directly from Rolex at retail price. AND guess what? There are many collectors and watch lovers who refuse to wait that long and venture off to the secondary market where the solution is to pay a "premium" to get the watch sooner. Ever heard of a Rolex model selling double or triple its retail price? Yup, that would be why. The beauty out of ALL of this, and the main reason why prices only continue to go up, is that once Rolex observes these big bubbles in prices on the market, they increase their own RRP (Recommended Retail Price) to follow the rise. Thus, the prices will only continue to go up, and I have no problem saying it for all models across the board. My second reason as to why invest in watches is because it is an investment in your STYLE. For centuries, fine timepieces have been viewed as symbols of sophistication and make up a signature part of a person's individuality and persona. I heard this quote once before; I finally found a reason to share it... “A watch is the only legitimate piece of jewelry a man can wear.” Timepieces not only tell time, but they also tell stories. My third and last reason as to why invest in watches is to celebrate a milestone. Sometimes just the simple concept of "owning" a Rolex in itself is a milestone. Always acting as a reminder of that special moment, luxury watches have their own way of marking milestones. Something to work towards. Something to celebrate. Something to be proud of.
D: What’s your favorite watch?
Jason: I've been thinking about this one for a while now. I feel like it's always changing (LOL) due to the fact that I am actively involved in the luxury watch market, whether it'd be educating our clients or seeking out on a mission to find the perfect timepiece for the first-time luxury watch buyer. All of that said, right now, my favorite luxury watch is the Audemars Piguet Royal Oak Double Balance Wheel Open worked Ref 15407OR.00.1220OR.01. This is a watch that retails for $88,000 brand new and can sell up to $230,000 Pre-Owned or in the secondary market. Say What?!? That is a crazy premium, right? And guess what, walk into any Audemars Piguet Boutique Store and tell them that you want to buy this exact model, and just watch the laughs that come out. To continue, this AP Royal Oak model brings perfect precision and stability through its patented double balance wheel. Besides, who doesn't love a solid 18kt Rose Gold Watch? We can't forget about the glare proof sapphire crystal and the open worked slate gray dial with the luminescent pink gold hour markers. Or, how about the 3132 caliber which is self-winding and has a power reserve of 45 hours? I can go on and on about this watch! This is an exotic timepiece for sure. Maybe one day ;)
D: What’s the single most important piece of advice for someone just starting out as a watch collector?
Jason: Single most important piece of advice for a newbie watch collector IS.... don't get discouraged if you can't afford the big name luxury watches (ie Rolex, AP, Patek,etc) and don't let it stop you from investing in watches and starting your collection. It's so important to remember that we all must start somewhere. I remember when I first got into watches, all I kept thinking about was how badly I wanted a Rolex, and that AP, and we can't forget about the Hublot Big Bang! But, at the time, I couldn't even afford a $250 Citizen Watch, so those luxury timepieces were unattainable. I felt like if it wasn't a Rolex, or a big brand name, I couldn't wear it. This ended up leaving me with a naked wrist for a solid while. Fortunately, I grew and came to the realization that I can still appreciate, cherish, and wear timepieces that aren't big brand names. Shortly thereafter, I began buying Citizen's, Movado's, Raymond Weil's, Breitling's and much more for my own personal collection, many of which I still own to this day. The point here being that you can still have an appreciation for watchmaking excellence AND be a fellow collector, without having to break the bank. Leaving the "ego” at home, and slapping on a Raymond Weil Freelancer has never felt better ;)