Paul Newman's Paul Newman, Newman... WTF?

Paul Newman's Paul Newman, Newman... WTF?

Hello Newman!

You knew it was going to happen one day, certainly after the idiocy we've seen with recent show-stoppers like the womanizing-country-abanding Bao Dai 6062, or the so-subtle-no-one-would-ever-know-its-a-Patek-under-a-sweater 130, that the ultimate vintage watch that people with far more money than brains will jerk each other off over, would be found.

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Stupid Is As Stupid Does: Comparing Watches to Art

Stupid Is As Stupid Does: Comparing Watches to Art

Last weekend we saw an example of the complete and total idiocy within watch collecting when the so-called “Bao Dai” Rolex 6062 sold for nearly $5.2 million dollars, setting a record for a Rolex watch at auction in the process. The reason for this outrageous number was because of it’s supposed rarity and provenance. Bao Dai who was the last Emperor of Vietnam, bought this watch during the Geneva Accords in 1954 not long before he abandoned his country because he realized that actually running it would interfere with his womanizing, golf, bridge, etc. As such, he took his Rolex to the south of France to frolic among other like-minded nobodies until his death in 1997.

Good for him, but for that “provenance”, someone actually paid $5 million. Of course, this did not come without criticism. Many have spoken out against the lack of common sense shown in these prices/values, citing the Bao Dai as the clearest of examples.

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The Bao Dai or Mr. Chow Rolex 6062?

The Bao Dai or Mr. Chow Rolex 6062?

I spent much of last week and the weekend taking deep breathes. The reason for this was the latest Phillips Geneva Watch Auction where the extremely famous “Bao Dai” Rolex 6062 was going to be auctioned off. Among “Rolex Collectors”, this was apparently the best of the best. Some very prominent Rolex collectors have even been quoted as saying if there was just one Rolex they could own, this would be the one. So, the obvious question is what’s the big deal about *this* Rolex?

The reference as mentioned is a 6062. It's the last moon phase Rolex ever made until this year when they introduced a new moon phase movement as part of their Cellini collection. But, this particular 6062 is one-of-a-kind. It's the only one in 18k yellow gold that has a black dial and diamond indices. Thus, making it as rare is it gets, which is one of the 3 main rules of collecting vintage watches. Apparently, there are no records of a second watch just like this one. There are other 6062’s, some in stainless steel, other gold ones too, but only one with a black dial *and* diamond indices.

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Tudor Submariner 7923 And The Moron About To Pay $350K

Tudor Submariner 7923 And The Moron About To Pay $350K

This past March there was an auction for an old Tudor Submariner. This watch is unique because it is the only reference Submariner made by either Rolex or Tudor that has a manual wound movement. The other thing that is interesting about this particular example is that it really does appear to be completely original and untouched, but also in really amazing condition. As you will see in the photos, it definitely looks old and has signs of aging, but the case is still really crisp and its original finish is mostly there, even the bezel insert wasn’t changed and the lume is still untouched.

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Happy New Year! And Materialism As We Enter 2017

Happy New Year! And Materialism As We Enter 2017

Every year we have our "new year's resolutions", but given the holiday season has just ended, which is always filled with the standard commercialism and retail therapy, I thought it might be worthwhile to give my perspective on the subject. Specifically when we refer to a certain type of spending as "materialism" - this ties in nicely with the watch world, since 2016 was officially the worst year on record since the early 80's!

First, what is materialism?

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Sotheby's Landmark Auction Proves What We Already Should Have Known

Sotheby's Landmark Auction Proves What We Already Should Have Known

If you’ve read my posts in the past then you know that it is my belief that most of the prices that certain watches have been getting at auctions, etc., over the last few years are greatly inflated. No longer is there a rational relationship between price and the inherent quality of many watches. Instead, these elevated prices have become an example of herd mentality over independent thought. Where once there were true enthusiasts, now there are rich idiots with an unjustifiably elevated view of their own opinions who feel obliged to get into a pissing contest every time some shady example of a watch with a more-than-likely faked “rare" dial rears its head. Watches that fail utterly as examples of craft in any respect, or that could possibly justifies the cost. So, prices go up and the auction houses, the dealers and even some “expert” watch bloggers are the ones laughing all the way to the bank.

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Are We About To Enter A Watch Buyers Market?

Are We About To Enter A Watch Buyers Market?

After the 2016 Presidential Election in the United States, it is widely expected that there will be some economic uncertainty moving forward (at a minimum). This would affect the US, and by extension the world. Without going into a political rant, the reason for this is because proposed policies from the campaign trail point to an increase in interest rates, which basically means cost of living for the majority of people will go up. If this happens, luxuries are the first to get axed. Back in 2008 when the most recent financial crisis hit, the market was flooded with luxury cars, boats, and jewelry. It was only once the recovery really started to take hold the past couple years did we see, for example, an increase in watch prices to the point where records are being set all over the world.

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More Money Than Brains: $11 Million Steel Patek 1518

More Money Than Brains: $11 Million Steel Patek 1518

I love watches, but if you read my posts you also know I'm not one of those Horological Douchebags (HDs), that is constantly pushing the pissing contest many people with more money than brains tend to have with great regularity.

And without repeating myself (you can read older posts for that), let me present to you the most recent example: the Patek Philippe Ref. 1518 in stainless steel.

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Would Steve McQueen or Paul Newman pay the HDT?

Would Steve McQueen or Paul Newman pay the HDT?

While we're on the subject of horological douchebags, and the plethora of ways they let themselves known, it does seem that money is at the root (for the most part anyway), of what makes them tick.

Lets take the silliness in the vintage Rolex market, even the vintage Patek Philippe market for that matter, which seems like it has come out of nowhere in the past decade or so. Look closely and you'll see it has absolutely nothing to do with independent thought.

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Watch Ads Brainwash Us

Watch Ads Brainwash Us

In a discussion I was having over the weekend with some car aficionados, it was inevitable that the subject of watches came up. Along the way we started discussing the fun that can be had "collecting" and we also discussed the *possibility* that watches can be great investments. Just think back to last weekends fiasco held by Phillips Auction House.

And the main difference, it was ascertained, between then and now is the huge role the internet, and the various online watch expert blogs and sites play in all of this. Because the reality is, douchebags or not (they are), some in particular have done a brilliant job brainwashing the masses into thinking what they say actually makes sense.

Again, think back to last weeks auction and think about the hype thrown at the $5 million Patek and the $1.3 million Daytona just to name two.

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The Absurdity of Phillips Auction in Geneva

The Absurdity of Phillips Auction in Geneva

On May 10, 2015 Phillips Auction held an auction of watches in Geneva.

And while every single watch expert or watch expert website was all excited and pumping their fists at the record setting prices, I was not.

I was not, because we've been had, and it was disgusting and absurd.

Not because its absurd for values of desired products to be higher than what they originally sold for (or anything like that), but because the standards used to determine value was inaccurate, non substantive, and completely artificial.

And it's absurd that auction houses (and the seller's obviously), use *certain* online publications to "bump" values artificially and take advantage of our (we, the people) ignorance (brainwash).

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Rolex got served by this Watch

Rolex got served by this Watch

And Phillips Auctions will auction off 4 watches that have attracted a lot of attention in these past weeks. All of which are expected to break records.

And all of them are absurdly overpriced and overvalued.

But one in particular is egregiously overpriced and overvalued, because one of it's failures is what makes its rare, hence valuable.

I'm talking about the the Rolex Daytona ref.6263, but the one known as the "Albino" Daytona (ooouuuu, ahhhhh), because it's sub dials are the same color as it's dial (white/silver). And Rolex only made about 4 of these "Albino" versions.

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It's not the "Details", it's the Money

It's not the "Details", it's the Money

You're absolutely right!: something, like a watch, especially one that visually is liked by so many people like the ref.6263 Rolex Daytona (my all-time favorite Rolex by far), and that is decently made, can be and should be worth more if it appears in a livery that makes it rare. I.E. one of a kind or even one of only four, etc.

That these more rare versions of watches are worth more than the standard versions is not the issue I have. It's the money.

Because it is in no way possible, that the Albino Daytona is a better watch, or has more quality than a standard 6263.

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Provenance

Provenance

Previous I discussed the douchebaggery thats been going on the past few years within vintage watch collecting circles (http://www.spazz.com/opinion/all-in-the-details-my-ass). This has been highlighted by “watch experts” online and beyond via comments such as “it’s all in the details”. Details that more often than not refer to elements of a watch that offer no real substance, but rather have had their “substance” artificially manufactured by the horologically ignorant simply looking for something (in this case a watch) to display their affluence or status in the world.

This phenomena also seems to be most prevalent with watches than with other collectables. For example, cars too are going through the roof! But at least when a Ferrari GTO sells for $34 million it can be (somewhat) justified not just because it is now rare or has provenance, but also because it was a damn good race car that blew its competition away. In other words, substance.

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