Vintage watches over modern and why you should love Rolex?
Before being accused of marking my own homework, let’s start by saying that I don’t praise vintage watches and Rolex just because I happen to be selling it. In fact, it’s the other way around. I deal in Rolex and other vintage watches because I think they’re praise-worthy. It’s a choice we’ve made a long time ago as our passion lies here; we understand and share the believe in this product and it brings us so much joy. If a monetary motivation would have been paramount, I’d probably opt for trading modern timepiece. No point in denying I’m a capitalist, but I prefer to make money doing business with objects that inspire me. Yes, I’m biased, and this pleading isn’t going to be entirely objective; hence I opened with my conclusion. But today I hope to give you an understanding about my preference of vintage over modern and explain it is foolish to dislike Rolex or underplay their pivotal role.
What is vintage?
The term vintage comes from winemaking, where it refers to the production process with grapes from a particular year and moreover signifies a quality standard. Ever heard of the saying “aging like fine wine”? In any case, the term is a bit vague and is more difficult to pin down, unlike for instance “antique”; which is something of at least 100 years old. By now, this appellation has been exploited in so many fields that it perhaps became a tad hollow. In my opinion, a watch only deserves this honorific title if it proved itself to withstand the test of time; both aesthetically as well as mechanically. It is fair to say it should probably be at least twenty years old before we can pass any such judgment on it. By extension, I would argue there are some watches from this millennium that could be qualified as vintage, whilst there are also models from the 20th century that are merely old watches. The debate can be elaborated by adding the growing “neo vintage” segment. Arguably rarity might play a part too. I, for instance, doubt if most current Rolex’ would ever be regarded as “future classics”, since there are so many of them the collectability is less prevalent.
Why should one opt for vintage?
Currently it is all about quantity and speed. Modern production methods obviously make todays watches superior in terms of precision and finishing. However, this is at the expense of the charm that relies on more artisanal craftsmanship, when optimized machinery wasn’t available yet, that can often be found in small details. Craftsmanship is also reflected in the durability of it. Provided that it is maintained, it will outlast you by generations. You can’t say the same about most of the other practical products from a previous era. But your prestigious timekeeper is still ticking away merrily.
Fashion is relatively peripheral for these classics and the looks are generally timeless. Aesthetics are a very important factor and your choice of wristwear says something about you, not in a superficial way but it reflects your understanding and personality. Chances are slim that the wearer of a 50’s chronograph, can’t come up with arguments that aren’t financially or popularity driven to back up his choice.
In a way, a vintage watch is a piece of mechanical history on your wrist. Particular brands and models often have awe-inspiring chronicles, and each individual watch has lived a long and fascinating life. There is a reason that so many companies fall back on their heritage and dredge up old designs, but nothing beats wearing an authentic artifact for that genuine nostalgic feeling. They don’t just tell time, they tell history.
Sure, even back in the days hundreds or thousands of most models were made, but a vintage is still more likely to distinguish yourself from the pack. For instance, there are boatloads of vintage Rolex Datejusts available. Nevertheless, the production run was considerably smaller and brands used to integrate design differences more frequently. The chances of running into another person with exactly the same configuration is highly unlikely. Especially considering every individual timepiece has aged distinctively due to the impact of outside agents. A vintage watch is unique by default as even identical twins grow up to be 2 different people. If the look of a particular old specimen captures your imagination, you‘ll most likely never find the exact same one ever again. It developed an unrepeatable patina and attained a soul of its own. Modern watches, while great in their own right, don’t have this differentiating feature. Those Cerachrome bezels will never fade and that Super Luminova doesn’t change color. You might end up wearing the exact same watch as your neighbor.
Finally, a few things can be said about the vintage market and the financial aspect. Instead of supply and demand, the retailprice for new watches is set by strategy. Moreover, with new watches the costs of development, production, marketing, and sales must be recouped. Consequently, it is harder to get value for money, regardless of the price bracket you are shopping in. Fiscally vintage can provide benefits too. I understand “new watches” and “modern occasions” aren’t the same, but both have more volatility. I’ll stay clear of “investing” as it’s a topic I rather avoid and I have shared my insights in our previous “watchguide to controversial topics”.
Now, I can hear you thinking: “ease off on the salespitch!” But I’ll gladly touch upon some of the risks or downsides of vintage too. With a new watch -purchased from an authorized dealer- you can be sure of authenticity, originality, condition, and proper mechanical functioning. Couple this with a good warranty and you’re buying a sound product, no need for cognizance..
Secondhand watches introduce more risk but might also be more exciting. Modern ones are more often counterfeited and its harder to distinguish. With vintage it is less uncommon for a decade old example to have been subject to wear and/ or contain replaced parts. Condition and overall originality will affect the value of the watch severely. It takes years of experience and considerable knowledge to be able to navigate through these murky waters. That’s why it’s so important to buy the seller.
Conclusion
These are the factors I weigh in to measure my preference. Depending on your personal parameters you might come to conclude that you like modern watches better. Maybe you’ll even find a middle ground, a nice mix of new and vintage. I am a lover of watches first and foremost and there are plenty of vintage watches I’m not particularly fond off and plenty modern ones that I enjoy dearly. This argument is presented rather binary and in a generalized fashion to provoke you about thinking what you value in your collection. I’d love to hear your thoughts, especially if and why you disagree.
Rolex is and has the crown
Now over to Rolex. Ask a hundred people on the streets to name a luxury watch brand, ninety-five of them will probably say Rolex; whatever their gender, age, race or nationality. It is easy to establish that there is no point in mitigating their gravity as it is, objectively, the most important watch brand in history. How did their significance develop and why do people try to deny or underplay it? Let’s divide it in 3 segments: the product, the company and the brand.
The product
Rolex watches are built for daily life and to last generations. This doesn’t sound groundbreaking and nowadays many brands can say the same. But ever since the founding of the company, 12 decades ago, Rolex aimed at durability and reliability. The quality constantly improved as they innovated and shaped not only the physical product but the entire industry. Key factors being the Oyster case patenting a century ago -that allowed them to make it water and dustproof- and them taking over and investing heavily in self-winding wristwatches with an improved mechanism, incorporating a rotor.
Yes, it’s pretty straight-forward and far away from Haute Horlogerie. Not because they aren’t able to make a minute repeater or tourbillon, but because they purposefully steered away as they focused on aforementioned necessities. No wonder there is no elaborate finishing of the movement, it is not their core-value. But in terms of precision, they’ve always scored very high -especially in its competitive price-range- and it generally exceeds COSC standards. Even from my own experience: I’ve traded close to ten thousand watches (from all brands and periods) and Rolex watches are least likely to cause mechanical trouble. Even 70-year-old ones tend to have less problems than most modern models that went through our hands. And if there is an issue, it usually isn’t challenging to resolve. How come?
The company
To find the answer we have to look at the company, which is often described as conservative. They usually don’t drop bombshells and bring out new lines with limited editions and totally altered models each year. Their risk-aversity is to protect them from being surprised themselves. By meticulously planning things out -decades in advance- and usually incorporating mere minor adjustments, it is easy to calculate the impact. One of the reasons why they can adopt a long-term vision and maintain such linear improvement, is because there are no shareholders pushing for quick profit. The company is owned by Hans Wilsdorf foundation, indeed; a non-profit. Let’s not pretend it isn’t an affluent firm with tremendous revenue, but at least they get to do it by their own agenda, not compromising in quality or the longevity in reputation. Which arguably plays a role in the “waiting list” debate.
The brand
Marketing plays a huge part in the monumental success Rolex achieved. Wilsdorf started looking for exposure at a very early stage, when branding wasn’t a common practice in watchmaking; let alone marketing. The name Rolex itself was most likely made-up because it sounds powerful, has international potential and looks good on a dial. But back then, the names of watchmakers were secondary to the retailers and oftentimes it could only be found on the inside of the caseback or on the movement. Not anymore, said Wilsdorf: we are synonymous with quality, so put our name on the dial. And when Mercedes Gleitze swam across the channel, Rolex saw a chance to capitalize on this incredible feat by letting the world know they created the greatest triumph in watchmaking.
Nowadays a brandname watch is a status symbol. This is very much because of Rolex. At an early-stage Rolex aimed many model lines at professionals who could use these toolwatches and enjoyed prestige: GMT-Master for pilots, Daytona for Racecar drivers, Submariner for divers etc. And don’t we all admire their “if you would…” Campaign? I mean their logo is a crown, and how about the “President” bracelet for status? The quartzcrisis made way for ultra-precise wristwear for a fraction of the price and many traditional brands went out of business. But Rolex wasn’t only selling their functionality. They didn’t have to resort to cheap production to compete with the quartz watches but always followed its own course. Overtime many brands looked at Rolex but they remain “often copied, never duplicated.”.
Conclusion
This is just a very brief and superficial summarization of all the factors that made Rolex so staggeringly successful. But the downside to this: “high winds blow on high hills”. I am not debating that the current course in availability isn’t questionable and of course your personal taste might lean towards a different brand for various reasons, depending greatly on your own criterion. I dislike the aesthetics of most modern Rolex’, but over the last century they have crafted such a variety of specimens, with quality as a common denominator; that it is hard to believe you dislike them all. But more importantly, if you like watches -and I assume you do since you are watching this video- it is ludicrous to dislike Rolex as a whole; given the influence they exercised on the product across the board and the pioneering role they have adopted in business.
Luckily, most people aren’t short-sighted or at the very least understand the historical importance; especially the connoisseurs and afficionado’s. No wonder Rolex dominates the landscape of watch collectors, making up for a large part of the most interesting lots on auctions. And all these scholars that devoted years on making books, charts and studies that go into the smallest details of sometimes only one model. We love this elusive and somewhat even mysterious brand. And we haven’t even gone into their secret communal contribution, their “perpetual initiatives” and immeasurable impact on society. No wonder it has peaked on top of the Forbes “Most reputable companies” list ever so often.