WATCH CONFESSIONS: “Yes, I flip watches. So what’s the big deal?”Luke Benedictus
EDITOR’S NOTE: We recently ran the first parts of our Watch Confessions series in which Time+Tide interviewed anonymous members of the community to get them to share their darkest watch-related secrets. In this latest instalment, one man explains why he chooses to flip watches with zero remorse.
“People get so self-righteous about this. But answer me this: if you had the chance to buy a Nautilus or even a Hulk at retail, would you honestly pass it up if you knew that, in some cases, you could make a 100% proﬁt just like that? Turning the chance down wouldn’t just be dumb, it would be ﬁnancially irresponsible! Don’t agree? OK then, translate that mindset to another area like the stockmarket or property. There’s nothing wrong with trading those. So what’s the big deal with watches?”
“In my opinion, the whole system with watches is corrupt and, if you buy in-demand watches from certain luxury brands then, I’m sorry, but you’re part of it, too. Brands deliberately create a shortfall of their most popular watches to make them seem more exclusive. Retailers force customers to buy other models b y dangling them hope it’ll give them a better chance of landing the watch they really want down the line. The whole system just stinks. So don’t scapegoat me just because I ﬂip the odd watch. When it comes to what’s wrong with this industry I’m way down the chain.”
“It’s not like my interest in watches is purely ﬁnancial either. I’ve always liked watches and I’ve got a reasonable collection myself. What are some highlights? I’ve got a Blancpain Fifty Fathoms, a Monaco, a Vacheron Constantin Overseas… And yes, most of those have been funded by ﬂipping. But if you’re not a millionaire, then most guys with nice collections have built them by strategic trading over the years. Flipping just allows me to do an accelerated version.”
“My situation is that an old mate of mine is an AD and so I get the chance to buy the odd watch that I otherwise wouldn’t. I buy a piece may be once a year and sell it on. All I’m doing is capitalising on my opportunity and I think that you would do the same. Don’t hate the player, hate the game.”
As told to Luke Benedictus
This article first appeared in Time+Tide’s NOW Magazine