#1 Annoyance: As a woman, having to go to the “Men’s” section of watch sites in order to find the cooler watches and then finding that 70% of their selection is 42mm in size or more....
Thank you for your comment! Take Omega as an example. I really wanted an Omega Seamaster 300 so I scrolled through the catalogue. What did I saw? Half of them are 42.5mm, with almost the rest of them being embroided with diamonds. Only one watch isn't and it was a 34mm variation with stainless steel and a white dial. That's it.
I'm a small man. Not a hobbit mind you, but even a 40mm watch looks too big on me, so I share your frustration. Shoes come in different sizes. Why not wristwatches?
My favorite you didn’t mention was “here’s the same watch we’ve been selling for the last 5 years, but with a different bracelet/seconds hand/bezel color. Also on the social media point, what is frustrating are all the “BrandUSA/BrandEurope/BrandUK/BrandJapan/BrandAustralia” sub accounts with different content and no unified message of the main brand.
Haha like I said, could have mentioned more. I do think there are the some issues here, but I think it would be bad for me to call it out since I think most of us applaud the classic designs and don’t necessarily like new. Look at the code 11.59 haha. Totally agree about the alternative social media branding.
Well, in their defence, the cost and time investment it takes to develop a new movement is considerable. Testing especially, since it involves a lot of waiting. There's not a lot else that can be done to keep things fresh in the meantime.
I hate how the massive conglomerate watch companies are squeezing the independent watch repairers like myself. It's increasingly difficult to source parts and information for watch repair. This is being done in hope that owners will send watches to their in-house service.
I feel you. I do mechanical wristwatch repair / service myself as an hobby (mainly on my collection and thanks to the relatively cheap replicas that I got years ago that let me learn how to tinker without too much worries) and I just get mad that I can't buy a damn hand or reversing wheel because they want to rule the market. And for people that do this for living it's even more tragic.
I would much rather pay my local watchmaker to repair my watch, even if it cost the same amount. I have gone to the same watchmaker for 25 years, and I see him at least a few times a year, and his is the last retail business that I still have a personal relationship with. He knows my priorities, and understands that I don't want my watch case polished, or if I do, I will ask. I really just want the innards to work correctly and efficiently.
As a watch enthusiast for half a century I agree with you. I used to spend a great deal of time (pardon the pun) in Geneva, and was fortunate enough to know several members of the families who actually built the industry. At the beginning, almost all the firms were 100% family owned, but in the 1980's the business changed in that a great deal of investment was needed not only to expand, but utilize CAD and CNC digital equipment to achieve even higher quality standards. I love independent watchmakers. The problem is that the manufacturers are not required to supply them with parts, equipment and documentation required to service their pieces properly. This is huge problem for those who have significant collections of fine movements or complications. The investment in facilities and people to perform deep overhaul work is impressive, and many times essential. While I continue to use the services of my trusted craftsmen, as I have two pieces in service today, for specialized service of ultra-thins, I have no alternative other than to send them to the manufacturer where they have the expertise. My watchmakers have expressed their thoughts in that the trade may be viable for perhaps another generation and then it will be finished. Watches today are not nearly as popular among young people today with their smartphones. How sad.
This is why I like the Micro Brands. Yes, they're not most ppl's cup of tea...but consider this : 1. Middle Men are excluded, giving you lower mark up price for your timepiece. 2. You can ACTUALLY BUY what's advertised online. 3. Value for Money proposition pieces. 4. Better Marketing ( Take my money please ). 5. Better Customer Service and Customer Support. The list just goes on.
...also worth mentioning, you're buying something that's not omnipresent. Rolex produce 1 million watches a year, they're everywhere, despite their price point.
I totally agree, my most recent watch purchases were Spinnaker Fleuss, Karlskrona Midnattssol, Phoibos Wave Master. I also like Dan Henry, Helson, Maen, Boldr, and Helm, but they are all doing some interesting things. The only knock on some of them, is their inventory and availability. The biggest brand I have purchased from in the last two years was a Henry London Knightsbridge Moonphase.
MrShinobi797 Do you have any good recommendations for micro brands? Although I love watches and know the major brands and some smaller ones, the micro brands are something I’m just finding difficult to find information about.
@@TeddyBaldassarre Nope, me neither!! Have just been made redundant at work, so have to face the real world for a while, no watch purchases until some money comes in, but will keep watching!!
Same age group; I get The Times (for free) every Saturday and the watch ads in the magazine have not changed one jot in decades. Come to that the products haven't moved on much either. Complacency is the um ... watchword.
I was ready to buy a Rolex Batman after saving my money for a long time, and then I. Go to a dealer and I can’t buy one, so it’s either wait years to get one or just buy another watch, so I bought myself an omega seamaster and Rolex lost a customer
I think that Rolex artificially limiting supply is something that may help some AD's in the short run (they can charge a premium or discount less off of list due to "demand outstripping supply,") but in the long run I've heard enough people have the exact same experience as you to think that it's a losing strategy, long-term. If you're in the business of providing a product for sale to customers, and customers can't buy your product but can buy your competitor's... seems like bad business to me.
Well done amigo, it's a ridiculous practice not to have the popular models on stock or at the very least this be available at the most in a couple of months to a paying customer.
3guys - yes, that's the way it always is. I hope you enjoy the Omega. It's entirely possible that you will now become an Omega-fan (when you might have been a Rolex-fan) and even your kids might end up becoming lifelong Omega people. If that's the way Rolex wants to treat you, fine, there's other companies out there.
You are not alone in this. I think Rolex is winning in the short term, but they're losing in the long term as the unavailability of their watches is driving people like us away, maybe never to return as we find other brands to become loyal to.
My favourite RU-vidrs are people like you who talk about their passion. Edit: Just back from Rolex's website and feeling as if I were trying navigate through a maze. I've been on the Internet since 1997...
I read today papa Jenner has a room full of evidence that would have had OJ convicted for murdering his wife... Somehow I don't believe it, because Kim didn't put any of it on Ebay as yet...
This video explained why mvmt type brands are so successful. Traditional brands are so stuck in the past that blows my mine as well. Good job on the video.
I would hope history has shown smart people that destroying inventory to support prices is a horrible idea...read up on pigs during the 1930s in USA for the worst example.
AMEN, these brands do NOT seek out younger watch enthusiasts. It’s a shame, because fashion brands are saturating the market with crappy movements that appeal to younger people. I think watch brands should take notice of their younger audience because if they don’t, their older audience will eventually die off and they will lose their footing.
The classic brands, rightly so, do not typically seek out the younger watch enthusiasts by radically changing their look; they "allow" the younger enthusiasts to seek them out! Also, when I purchase a Patek Philippe, I want that watch ( perhaps a Perpetual Calendar ) to look like a PATEK PHILLIPE and not like a wrist clock worn by a high school freshman! Don't worry, when the young kids buy their Michael Kors, Invictas, MVMT POSs, and see how cheap the watches are ( and how no one gives them any respect ) they will seek out Zenith, Omega, Audemars Piguet, Jaeger Lecoultre, or even Seiko, Orient, or Vostok ! As far as the older customers dying off: Vacheron Constantin has been selling their timepieces for over 250 years, can we assume they have some seriously old customers?
I think they do that because they wouldn't profit as much if they sought out younger people. Younger people (highschool and university students) don't have much money and when they do they spend it on a phone/laptop/travelling. This makes sense because when you're on a budget a mechanical watch that can't even tell time correctly isn't your top priority. Older people on the other hand have some saved up cash and they want to spend it on something that makes them happy even though they don't need it at all.
Yes. Younger generations will increasingly recognize luxury brands as nothing more than gaudy "brands" that rappers & celebrities flaunt to show their material "wealth". Luxury brands will become not symbols of achievement, but rather symbols of excess. When younger generations come of age, they will _avoid_ luxury watches (as opposed to _merely ignoring them_ as they do today).
"Luxury brands will become not symbols of achievement, but rather symbols of excess. " -- ROFL. Move to Venezuela. Seriously, who do you think all the rappers appeal to? My generation? Are you kidding? They appeal to young people because they are dumb.
Gosh man, hit the nail straight on the head. I want my kids and grandkids to have the same passion for horology that I do, but if these brands don’t get with the times, a big change will come... and not for the better.
Top rate Teddy, all great, and valid points. As one of those middle-aged consumers, having a personal touch to a more hand crafted product remains the most important to me.
Not actually the industry, but the community in general is plagued with snobs and it's really sad. The fact that you and other person share the same passion should be something that pull us together but instead we fight over the most miniscule of details. I much rather talk to a dude wearing an "invita pro diver" and loving it for what it is than someone wearing a submariner that can barely tell the hour and just bought it because it was a "rolex"
Amen to that dude. I think the differing opinions is what makes this fun but I think that turns into unnecessary conflict and personal attacks. It probably does impact how the brands operate in the end.
This could be seen as what you posted about, but would anyone who really cares for watches buy a Invicta? On the other hand, yes, no fun with the "its a rolex, thats all I care for"-people either.
I love my Invicta Diver Pro. I bought it on Ebay just to get another automatic when I was first getting into auto watches and because it has the window so I can see the movement. The thing is amazing. It keeps time almost to the second for as long as I wear it and it looks cool. It is versatile with many strap options and just a solid time piece. Aside from Invicia's "gaudy" branding on many of their watches, they make a hell of a good watch.
Because it was a rolex people are not the snobs I think? I thought the snobs are the people who knows which watches have money and slanders cheap watches.
I can tell you why marketing departments advertise in print media. They target magazines that business people traveling on planes get. They are captive and well selected audience, and they will stare at those ads out of boredom.
I have been to a Rolex AD, trying on a couple of watchers (the first! Rolex i have seen/felt AFK in my life) it came down to a couple (you could buy) But I know it was not even all models of the range, and I could not make up my mind on the two. So ended up saying... I can’t decide, I have to come back. Boy! that changes my experience, the AD lady was pissed! Almost trying to bully me into buying it, not very low-key calling me cheap/poor... After that I seriously considered if! I even wanted a Rolex... :( Ps. I ended up buying a more expensive model the the one the AD showed me, but NOT from that store
Mr. Baldassarre: Your points were simple yet profound. Some watch companies seem like out of touch politicians, giving us what they want, rather than what we want.
If Richemont / Cartier can buy back and destroy $600 M equiv to preserve market value, I imagine the profit margin must be huge while cost of production of their watches may be really low or negligible.
Teddy, I think you really are helping to bring the discussion to the forefront on some of these issues. One thing I have noticed about the boutique sales model for exclusive and restored pieces is that it tends to ignore those who aren't simply flying out on a charter or their private jet to the Hong Kong boutique to snatch up before lunch. I feel that by and large this aspect of the model will not change much. Great video, keep up the thoughtful and thorough productions.
And regarding not marketing to younger generations because they don't think younger folks won't buy a watch--it's a self fulfilling prophecy. If you don't market, you won't sell.
Teddy, ive seen you be passionate about watches many times but THIS is different! I loves to see this reality check on the industry!!!! You clearly were on the verge of genuine anger. Good on you. Keep it up, brother!!!!
Wow...just wow. I'm a new watch aficionado and a big fan of your content (thank you). It's kind of alarming by these companies lack of awareness in this digital age. Very eye opening and I completely agree with you. I don't want find the industry just limping along. Teddy Baldassarre you have started a revolution
Great video. You hit this one out the park. I hate the watch websites, hate the AD’s, especially the ones that are to busy pushing diamond rings and don’t know anything about their watches.
Very good points Teddy! I have been frustrated by the way major watch brands treat the ADs and the trouble that causes with grew market. They definitely need to do something about this
Thanks for doing this video. The passion you have for this industry shows in your attention and attitude I have enjoyed many of your content and this one has made me much more glad to have found you. Unfortunately I don’t have very deep pockets and will have to be one of those guys that enjoys many lesser expensive models so I can change up my look each day to fit my mood.
In my opinion the most surprising stat was that the high end luxury brands spent 55%+ on some type of print advertising. I personally don’t subscribe to a single print version of any publication. I subscribe to plenty of digital version of publications because it is easier, I always have access to the materials, it’s more cost effective, easy to archive, etc etc. You did a great “read” on the current climate of not only the watch industry but many long standing, generational businesses. Keep up the great work producing content that is meaningful and easy to engage.
Three Rolex authorized dealers nearby and not one stainless sports watch available. The other complaint is that if you have a vintage watch serviced by an authorized dealer.....THEY WILL AUTOMATICALLY POLISH AND UPGRADE/REPLACE ALL OF THE COSMETIC PARTS THAT MAKE THE WATCH VALUABLE IN THE FIRST PLACE. DO NOT LET AN A.D. SERVICE YOUR VINTAGE WATCH UNLESS YOU SET CLEAR RULES. MANY HORROR STORIES OF RARE VINTAGE WATCHES WITH NICE PATINA COMING BACK FROM A DEALER WITH A NEW DIAL, NEW BEZEL, NEW CROWN, NEW HANDS, NEW CLASP AND POLISHED UP BRIGHT = 50% LOSS IN VALUE.
Oh my gosh Teddy you’ve nailed it. Someone needed to do this video. Ive been an enthusiast for about a year or so now and living in Africa so you can imagine what the whole AD situation means. I relate to all your points and unbelievable that theres no support on vintage. Ive resolved ill collect a bunch of good quality Seikos that can be bought online and shipped to me. Guess luxury brands dont need new customers🤷🏾♂️
Great points, I couldn't agree with you more. The social media/website aspect especially hit it spot on for me, as I hate the cumbersome user experience that especially high end luxury brands have. It feels like the way these brands work is just stuck in the past, and that's why I'm sadly seeing declining interest among people my age (17-18 yo) when it comes to actual watches. I am sad to say this but Daniel Wellington, Vincero, and MVMT watches know how to advertise in today's digital age, half of my friends wear one of their watches and think they got a great deal. When I spent $500 as my birthday present on a beautiful Junghans, they were astonished that I would waste that money on something that they felt they could get for $100. These established brands are making great products, but don't know how to interact with their customers. Thanks for the great content, Teddy, I am sure you're gonna be the next TGV in the watch community, your production quality is off the charts and your content amazing. Have a good day! (It'd also be amazing if you could check out my watch page on instagram, @german.watches :)
Great video and timely given my recent experience. Spoke to many Tudor ADs in my quest to buy a BB58 and I was shocked at the lack of communication between Tudor and the ADs, and the fact the ADs are too intimidated to do anything about it. It’s nothing more than arrogance on the part of the brand.
Brilliant analysis. Another point is that most brands sell the idea that you are buying an over engineered watch to last generations. Yet, the moment a model, or worse a whole range, are removed from production, the manufacturers withdraw all visibility for such models or range. They are treating watches like high street fashion. Customers paying big money expect manufacturers to maintain support for these watches. ..whose value is meant to transcends generations and not last just a few seasons.
7 Annoying things :- 1. Bad websites by brands 2. Outdated e-commerce sale 3. Outdated Authorised dealer model 4. Accessibility to watches 5. Lack of support for Vintage watches 6. Poorly run social media 7. Absence of marketing to younger generation
Thank you for posting this, as it confirmed many of the obstacles I've been facing while trying to do research on my my grandparent's watches (for repair, insurance and re-sell valuations). As a woman who has long appreciated the art and craft of timepieces and growing both my collection of pocketwatches, (Waltham, Molnija), and antique dress watches (Elgin, Gruen, Borel), my fascination for new and old continues to grow - as does my frustration around lack of reliable info, trustworthy vendors and shady repair specialists.
This video is maybe one of your most original content and opinion of your vlog. Not many of this information told by other watch bloggers apart maybe some on Federico talks watches. Some brands like Audemars Piguet are already changing their selling model and experimenting direct selling also. Good job and good subject
I love this channel, I've learned a lot about watches here. thanks! Your point about not supporting vintage watches is spot on. My grandfather gave me his 1976 Omega Constellation F300 Electronic (ST 198.0076). I can't find the right battery to put in it! How frustrating!
Hey Teddy. Great video as always! You mentioned you went through the AD application process. Could you please elaborate in another video (or in a reply comment) so we can all have a better understanding of the process. I think it would help all of use to better understand why ADs behave the way they do. Love the channel! :)
Awesome video. Regarding the vintage market, I like that it is enthusiast driven. Companies and brands are focused on looking forward (as they should be) whereas the collecting community is focused on the history, details, and minutia of the past. This may be cynical of me, but if the brands took greater control of the vintage market, they'd just screw it all up. When I go to the forum posts or the blogs, I know I'm getting information from a group of people who are only motivated by their love of watches or of a particular brand. There is no way Hamilton or Omega as corporate brands, the two vintage brands I focus on, would ever have the financial incentive to build as robust a resource that we enthusiasts have built for free that is also free to access. Much the same way I prefer watching your channel over the corporate brand channels. Great topics, very well thought out and has given me a few new things to consider. Thanks for doing what you do Teddy.
Regarding the social media presence: Brands need to take note from the Hodinkee/Cartier partnership when the Tank turned 100 years old in 2017, the "My Cartier Tank" series is incredible. An honest perspective by owners as to why they chose the watch and what it means to them. Every brand should do this - it's that personal connection with a watch that makes this hobby so enjoyable.
Teddy is correct about vintage timepieces. The ADs and brands just want to sell new models. I asked about getting a original box replacement for an Omega watch. I know the Omega head office will do this if they can. They did it for two people. However there is no incentive for an AD to do anything. So the nearest AD for Omega would not help. My solution for all this is it may be an idea just to buy pre-owned watches. There are incredible watches no longer made by the major brands. However you can buy them if you are willing to go pre-owned. There are many retailers that sell both online or in-store. You are correct about social media and web site content. Some brands do things better than others. I get frustrated and just order a physical brochure. But I think one issue is the pictures in these catalogues, which do no justice to the actual physical watch. Longines, Rolex, and Omega are good examples where the pictures do no justice to holding the physical watch.
Haha, I appreciate how passionate you are when discussing your points. At times, it really looks like you're truly flustered about these issues. You actually look kind of pissed off 😁
Haha thanks Blair. The Stern family can contact me whenever lol. I will say this, they are like Rolex as they can get away with more with less since they have a perception with those familiar that they sell a premium product. We will see how long this lasts though as I feel their biggest proponents now are older demographics and rappers who cover their watches with diamonds.
I had a friend who was an authorized dealer for Breitling. He was only given certain models to sell at start. The more specialized or limited editions were harder to access. Another friend was an authorized dealer for Rolex. He would have a hard time stocking certain models, even though customers would frequently request it. For example, he never got a Cellini or Yachtmaster in stock, and only had four Daytonas in the more than 10 years he was an AD. He also had issues with Cartier, in that it was no problem getting certain models with metal and dial color configurations, but harder for other types. Yet I could go to another AD an hour drive away and get the Cartier or Rolex I wanted. Another complaint is the difference between a Luxury watch brand boutiques selling just Omega or Rolex, versus a jewelry store who sells say six luxury brands. Many of the independents feel they are not getting everything in the catalogue. For example, my AD for Omega cannot get many of the models listed in the catalogue, even though head office says they're available. Rolex has a waiting list for ADs with some models being 7 years wait list. Yet a friend went to the Rolex store in Dubai (four floor boutique) and they had every model in stock that he was after. The other problem with retail is finding a physical AD in your area. I have no Ball watch ADs in my area. Same for at least five other Swiss brands.
Bunch of GREAT points sir, I'm 53 yoa and have noticed some interesting things over the years. First, I have been to authorized dealers and most often the staff knows very little about the watches they are selling. Second, magazines are completely outdated, why even bother? Third, even though younger people may not have as much disposable income I would think that companies would want to target them as they age with promoting online and entry level models. Keep up the good work sir. BTW- bring back the girlfriend....;)
I actually think younger generations are a great market for entry level luxury watches, the one's that are truly around 1000 dollars. Many younger people have allowance and have their expenses all paid for so their income (if they work part time, i.e. college students) can all go towards non-essential goods. Just go look at all of the fancy stores on a weekend, most people shopping are under 30. I know so many people spending thousands of dollars on Guccis, Armanis, or even Supremes. If the watch companies can convince the younger generation that a thousand dollar watch that you can wear for decades is worth it, they should be able to get a significant amount of income.
I'd hate to see the ADs go away, but I've never bought anything from an AD so I can understand why. I only try on watches there to see what I like and almost as importantly, what I don't like. After trying stuff on I can then to somewhere like Bob's Watches website and see what's available and pricing. I went to 2 different ADs this week and I was the only customer in the store. Side note, the blue dial yacht master looks great on my wrist!!
I sincerely hope some of these brands see this video.... you couldn't be more RIGHT about everything you just said. Your idea on having a medium for information on vintage watches is FUCKING BRILLIANT.
Thanks Mike. I’m not sure if they will but this could be a good article post for LinkedIn. I’m connected with some industry folks on there. I have ideas not expressed in this video I would still love to share!
My biggest gripe is the style of photography used to show watches on the brand's website (they all seem to use the same style). Thanks to people like you who make videos I get to see what the watch really looks like and most importantly how the light interacts with the watch. So many times I've looked at a watch on "X" brand's website and wasn't interested in it. Then after seeing a video of a watch it completely changed my opinion of it, not because of how it was described but how it was presented.
You’re best, most informative and heart felt video so far. Keep it up! I was also starting to look into opening an AD myself, but the hurdles the brands themselves put up, just makes it seem to be too much of a hassle. And it’s a dying business model, no matter how much I like the idea of having a home for selling my favorite watch brands.
You make some good points, Teddy. I've been doing some analysis of the distribution models of "luxury" brands and agree that we're going to witness a shift in the somewhat-near future. It won't happen until but just one brand is willing to upset the standard model and modernize. This will be a potentially risky step from a share preservation approach to one of either market development or penetration from a growth strategy standpoint. Either way, they must realize that the people who will be able to purchase their pieces in the coming years react very differently to traditional avenues than the generations which preceded them. Cheers, sir!
That explains a lot! I was wondering why I had to go to a authorized dealer and why I saw brands online at a huge discount. I also agree that the websites for major brands suck. Gotta give it up to Casio for keeping it simple.
Great video Teddy. The problem with these companies is that they are stagnant. They still think they are selling and caring for the old school watch buyer: the old banker gentleman who walks in and have tea and then buys. The world changed and these companies are stuck in the old regime. At the end of the day, they are aspirational items, and they want to keep it that way.
One of these high end brands needs to hire you Teddy, because you are spot-on with your analysis of the status quo, and you have some great ideas on how to move the brands forward.
Those problems with the watch industry are exactly why channels like yours are so useful in bringing the personal view to wristwatches before purchasing.
Very well put. Oddly enough, I think that it is 3rd party social media outlets like yours that are compensating for the poorly targeted marketing strategies of many watch brands. The grey market is similarly picking up the pieces for misguided pricing and distribution models. All of this helps keep the Swiss Francs flowing in spite of their antiquated business models.
I'm going through a massive pain in the ass over #5 right now. I inherited a vintage square (*NOT* a Reverso) Jaeger-LeCoultre watch and trying to figure out what the hell it is is the most convoluted process imaginable. Unlike other mainstream brands like Seiko and Rolex where cataloguing is plentiful (both by the company itself and online enthusiast forums), trying to find info on JLC is actually impossible if you don't talk to them. So you think about taking it to an AD but they don't have access to records either. So the only option is to send it to JLC themselves. The thing is that in order to get them to tell you what it is, you need to send them photos of the watch AND pay something like 275 USD with a wait list of weeks for them to go through the records and finally tell you what your watch is. Something that's supposed to be an exciting, heritage piece turns into a hassle.
Great rant & hits a lot of really good points...especially the UI/UX on some of these sites, but hopefully more of them follow Omega's approach, even though they still have work to do, that archive they have is probably the most complete one I've seen of any watch brand. But I guess at the end these companies are probably going to find out the hard way when our generation becomes their target market & they find themselves caught off guard, fingers crossed it doesn't come to that though. Another thing that amazes me is that they haven't really embraced the 2nd hand market either, they should at least start looking at it like the car industry with certified pre-owned models (like Ferrari Classiche) so that at least they can get in on the action and manage their brand beyond just selling to ADs
What annoyed me is sometimes it is hard to find a certain model, a not so helpful brand website which I easily got lost. I wish there is improvement on watch industry in terms of information and product accesibility.
Really enjoyed the video and you taught me something new about gray market and authorized dealers. One thing that bothers me about most of the luxury watch industry is their hostility toward independent watch makers. As i understand it they won't sell parts to watch repairers who are not within their network. So it makes it very difficult for the local repair shop to get needed replacement parts. Obviously the companies want you to be forced to send the watch to them where they charge much more and have a waiting list. I think this is extremely short sighted.
Many brands not available in Australia at all and the manufacturers don't sell online...and then there's the "Australia" tax where we get gouged with insane mark ups and they wonder why we try to buy grey or overseas
In addition, print/magazine ads? Look at the crappy MVMT & DW's - but they have such an online presence! On a differ topic, glad I kept our B&O 4002 tangental turntable. Thx Teddy!
Really insightful video, man. These are all things that have driven me crazy in my head for a long time now and it's definitely gratifying finally hearing someone say it all out loud. Really thoughtful content.
Hey, Teddy.....you need to clean the sensor on your camera.....you've got some pretty heavy dust spots lurking in your background......look right by the part in your hair, then a bit over to the right and also back over to the left. Great channel, man. Really enjoy it!
Those are nails on the background actually. Rearranged the background a while back and that was the result. I should probably invest in a better piece of glass with a wider aperture .
Love your passion, Teddy! Really excellent points. This video may end up getting you requests to interview with a few of the major brands. That said, you are a great example of an entrepreneur.
You are on point. One thing you state is how hared it is to research vintage watches. The companies don't get a cut from the used market. Is there anyway we can ban the term "Price Point" ?
Teddy one of your top videos IMHO! Agree with you 100% about getting reliable info on vintage watches! As a fellow youtuber I can relate! Just did a collab with Sam from “The Casual Watch Reviewer”, in that video talked about the run dates of a particular model (got the info from a forum) and boy was I wrong!!! Keep it up my man!!
Excellent rant. I sort of understand the luxury brands relying on older media because their clientele is older. However, that's short-sighted, because when younger people today become older people, they aren't suddenly going to start reading print. They need to start engaging with these people now so that in 10-20 years when they can afford a higher end watch, they want one. The brands I really don't get are ones like Seiko. They have a lot of mechanical models that are freaking CHEAPER than the fashion watches younger people are buying. Yet I've seen about 1000x more ads for fashion watches than I have for Seiko. It's nuts. Why buy a fake "diver" low quality quartz fashion watch, when Seiko has actual dive watches at the same prices? Well, most of the people buying the fashion watches probably have zero knowledge of this fact. Final point - the lack of the lower end brands sending out review watches to youtubers is criminal. Follow how tech companies do it. Samsung will send review devices to a RU-vidr with 10k subscribers, because they don't want anybody to miss engagement with their products. Maybe if Seiko, Orient, Tissot, Mido, and other more affordable watch brands actually sent their watches out to everyone for review, more people would know about them. (Big point on this one, they need to send these to not only watch channels, but ever fashion channel that is interested). For a point of reference, I'm a 40, not exactly a kid, and I pretty much only view digital media. I feel like most of these brands cut me out, and I can actually afford to buy something like a Tudor on a whim.
This is the first time I've seen one of your videos, you've managed to articulate exactly the things that have bothered me with the industry for a while. I subscribed instantly!
Wow...very thoughtful and interesting video; I'd say this is your best one. Extremely valid points and echoes my disappointment with many brands as well. This video should be mandatory for serious brands who want to make it into the market instead of being one-hit wonders. It's a wakeup call for established brands -- if they can see past their ego.
Please remember this video and us your audience in the future, I have personally learned sooo much from you with regards to building my collection. What I’m trying to say is don’t become what you’re describing, pls.... Thank you 🙏
You're summing up what I tried to articulated after visiting Baselworld and my experience with watchbrands on- and offline in general. Kudos from Switzerland to that metropolian area in Cleveland for elaborating those sharp thoughts!
You are very good at what you do as apposed to the companies that make the watches. I hope they give you the opportunity to do what you do best because the whole industry can benefit from your vision. Keep up the great work!!!
This is a really good video. Sometimes I wonder how a company like Patek still exists. They sell watches that cost upwards of $90.000 and their marketing is incredibly outdated and selective.
One of these brands should hire you! Seems like you could make a change if they care to listen. Look at the ages of these leaders of watch industries . Too set in their ways and afraid of change. Look at Polaroid. We are speaking of an obsolete technology
Great points. Imagine adopting a model like Warby Parker. Here’s another: why make it so hard for me to find a price on your website? Anyway, I’m older (54) but every year I do 90 percent of my Christmas shopping on Amazon. Why? Not just cost, but because I would go to a store and not be able to find an assistant. I’ve walked out of department stores without merchandise because I couldn’t ask a question and the checkout lines were long. Bad experiences equate to lost sales. How is that sustainable? Finally, there was a car maker, since bought and sold and bought, that at one point was trying to prop up its sales by dumping oddly spaced cars on dealer lots (dealers purchase inventory). Guess What? Didn’t work, just led to a dealer revolt. That relationship must add vale for both participants.
Teddy, my responses (if they matter) below 1. Watch sites are miserable. Why can't I view all watches/collections and filter by size? Seriously, it's trash. 2. & 3. My gut feeling, having worked retail, is that if brands had to sell to customers straight up their reported earnings would drop because many models or collections may not move. Which is not good for shareholders. As I see it, the AD system is a way to obscure profits and keep inventory moving. 4. Solved largely with a solid return policy. 5. Vintage watches do not support the industry. At best it can indirectly lead to sales. Does Nintendo benefit from someone buying a GameCube now? No. Watches are no different. Hence no support. As for brands selling restored vintage watches, time will tell. Shout out to Longines who have maintained amazing records. 6. Excellent point. I'd love Seiko to bring me behind the scenes of their factories, dive into the Suwa Daini split in the 60s, or share their historical figures like Mr. Tanaka. 7. Mr. Biver actually thinks an Apple watch will lead to some conversions to Swiss watches. I'm not so sure. Watches need to be fun first and buttoned up second. Also I work for Publicis (owner of Zenith Media) so I found the magazine statistic hilariously sad. Maybe I need to change accounts???
The fact is luxury watches by nature are an affectation of what one might consider living vicariously a wealthy lifestyle for many.The advertising is simply enforcing the idea of what the middle class think rich is,Bougie.Owning any luxury piece doesn’t really make you wealthy . Only perhaps for a time makes you think that you are before you pawn it.
I agree with your sentiments as I prefer buying authorised when purchasing a luxury watch. The grey market is risky and I have been burnt in trying to repair a newly-purchased, grey-market Omega Seamaster. I would love to buy directly online from the manufacturer instead of spending hours tracking down an AD! For everything else, I just buy online from Marc at Long Island Watch :) .
As someone who has worked in Digital marketing for a while, I can confidently say that everything mentioned in this video makes sense. But making these old companies change their antiquated marketing tactics is like bringing about a sea change. There is a nexus between the traditional print media and marketing divisions of such companies. So it's a mutually beneficial relationship for them. On the other hand, try to think if these companies would ever reach out to the social media 'influencer' bandwagon, which has proven to be one of the best marketing practices. The cosmetics industry is thriving due to this. I cannot fathom a Rolex, Omega, AP, VC or even Seiko reaching out to the likes of sell-outs such as Aaron Marino, Jose Zuniga, Alex Costa and the ilk. There are only a handful of big influencers out there whose image can match up to the standards demanded by prestigious watch brands, one that comes to my mind is Gentlemen's Gazette. And then, there are plenty of fashion models/ style influencers on Instagram who are probably safer to market with because they almost never open their mouth like the RU-vid brigade and confirm their stupidity. Totally agree the aspect about Vintage watches. This could form an interesting marketing case study. You can buy clicks and impressions via digital marketing dollars but actual Brand Heritage is a super powerful tool, extremely rare and needs to be talked about in a much more accessible manner. The automobile industry has fared a little better here.
Hi Teddy, 1) Rolex doesn't care about selling watches online because they limit supply to raise prices. 2) Could it be that watch companies don't provide much support for vintage watches because they want us to keep buying new watches instead? 3) It would be a fascinating graduate thesis to study the European watch companies and how their social media advertising personnel are selected, whether the best are chosen or if they pick some relative so they just check a box and say that they have hired someone.
The grey market lower costs prove that watches are being sold at an overpriced value in relation to its real market value. It's not a "discount", it is the true value the buyers ascribe to the product.
You talk about brands like mido and Hamilton. You talk about micro brands i love that number one reason i follow you . You teach us about brand history. You dont just talk about rolex and expensive watches if you did i would never watch you again their is enough watch snobs doing that . You give us so much more. You include options for every budget not isolating anyone. Those are my reasons for following you.
Here are my seven or so; 1. Vastly overpriced ETA's- Tag, some Oris, esp Bremont. 2. Poor built quality all through- Tissot. 3. Inability to service with confidence- Seiko. 4. Terrible 'watches' with a suave name- Daniel Wellington. 5.All fashion watches - £2.50 movements if your lucky ,vast at times prices. 6. Mass produced with good materials and/or movements, but no hand finishing- Rolex, Omega, JLC 7. Simple movements dressed up and no real design variance- Nomos. 8. Vast pricing with the un holy trinity +AL and Sohne, plus stupendous pricing for tourbillons, and their obscene service charges. And huge surcharge for gold or platinum.
