Letter from the Editor
We are living in fast modern times where the word luxury no longer means what it once stood for.
Over the past forty years luxury brands have moved from private family ownership to become part of big corporations. This has meant increasing pressure to deliver profits to their shareholders. Sadly this comes often at the expense of exclusivity and quality. More is better. And limited production is today completely overused and abused. Consumers buy a limited edition item only to realize that next year the brand has issued a new limited edition.
My desire for exclusivity and beauty is not satisfied by the brands output today. Rather I seem to have found it in the vintage world.
I believe the golden age of vintage for both watches and cars is the 1950s and 1960s. It is when brands made some of the most exclusive and beautiful objects. When Ferrari and Patek Philippe were producing under a one thousand units annually - all handmade by artisans.
Le Monde Edmond is dedicated to discovering, learning and collecting vintage watches and cars.
It is journey started six years ago and still only getting started. The vintage area is complex and vast especially when you concentrate on two areas. To navigate successfully will mean mistakes are made. But due to the vast resources available to us today, we as collectors are becoming better informed. Through the power of blogs and social media we have the chance to learn at faster rates than ever possible before.
This blog is just one additional platform in a vast network available to collectors and enthusiasts today. I hope you enjoy it.
Lets collect and learn together.
Personal Motto
‘Always try to be the best but never believe that you are the best.’
Juan Manuel Fangio
(credit: Klemantaski collection).
Background
- Le Monde Edmond’ was started by Edmond Saran in beginning 2013.
- It reflects the founders interest in financial markets, collecting vintage wristwatches and classic cars.
- Received his degree in Economics & Political Science from Boston College in 1996.
- In 1997 Worked for Julius Baer as an equity analyst for three years before joining Rothschild Bank in 2000.
- At 30, in 2004 he decided to work independently and manage his own capital.
- In 2008 he obtained his MBA in Luxury Brand Management with honors from ESSEC in Paris.
- In 2010 he received his Masters in Public Policy (MIPP) from the SAIS school at John Hopkins University, in Washington DC.
__________
Edmond comes from an international background. His mother is German / American. She grew up in Berlin and New York. His Father was Lebanese / Egyptian who worked in the film industry and started his own company in Los Angeles in the 1970s. He was a self made man who lived the American dream. He loved beautiful cars and watches.
Edmond currently lives in Zurich. He has a twin sister Claire- who lives in London and has two beautiful children, Lilly and Stephanie. Other hobbies of Edmond include: collecting photography, lighters and smoking cigars. Occasionally he can be seen jogging too.
A short Q & A with ‘E’
Why did you start Le Monde Edmond?
E: My main work – investments – was slowing down drastically in end of 2012. I could find no value in the equity markets, so I was searching for something else to do. I decided to write a blog about my hobbies – thus Le Monde Edmond was born.
There are thousands of blogs. Does the world really need another blog?
E: Of course not. But that was the challenge. Writing in a way that would resonate with readers. I was 38 years old, sitting in my office, managing my own capital with strong views on the world in terms of collecting and investing. Maybe other collectors would be interested to follow my journey.
Who is your blog aimed at?
E: This blog is clearly not for everybody. If you’re into modern Supercars and the newest watch from Basel World, then you probably will not find this blog interesting. But if you consider yourself a connoisseur and your seduced by a Rolex double swiss GMT Master from 1963 or want to know the different series of the DB4 Aston Martin from the 1960s – then you might stick around.
Where you always interested in vintage objects?
E: Not really. I went through the normal phases a young man goes through. I had modern watches and cars. But already at 26 when Porsche was making quite modern cars, I bought and kept my 964 Jubilee. I was never tempted by the newer models. I saw something pure in the form of the 964 which reminded me of the old Porsches my father used to have.
So you were influenced by your father?
E: Absolutely. He passed away when I was very young (12) but there were many things I remembered that left a mark on me. One was his love for Porsche. The other his love for Rolex. He had the most beautiful Day date in Platinum and diamond markers from the late 1950s. It had this wonderful deep blue dial. I used to stare at it for hours and often remember him wearing it even though he owned many other brands including Vacheron, Patek etc. But somehow that Rolex never went out of my head.
Where is that ‘famous’ day-date now?
E: It was sitting in a safe since 30 years. This last christmas of 2016 my mother finally surprised me with it.
You seem to be fascinated by the brand Rolex?
E: I received a Rolex GMT Master when I was 18, but it would be almost 20 years before I would buy another one. I always thought Rolex was the watch for uneducated people. Connoisseurs wore Patek or Vacheron. Certainly not a Rolex. But then I discovered the rich history the brand has and what marvelous watches they made in the 1950s and 1960s. The vintage area of Rolex is fascinating, and complex to understand. It is minefield filled with forgery and increasingly an area where criminals are very active. Since Rolex does not help their collectors we are left to help each other.
It is this uncertainty and difficulty of collecting vintage Rolex that fascinates me.
Are there any brands today that you would consider true luxury and buy?
Very few brands today represent true luxury. I can count them on one hand at best. One company that comes to mind that does a good job at managing their ‘brand’ is Patek. Maybe that has to do with the fact that it is still run and owned by a family and not part of large conglomerate. Although I own a few modern Pateks, I clearly favour their vintage watches.
What are the attributes of a good collector?
E: First I think it comes down to experience. The best collectors have gone through their collecting mistakes. They have seen up and down cycles and touched and carefully analysed hundreds if not thousands of examples be it cars, watches or art. They are experts in often saying no to items- even if they are good. They wait for exceptional and reject the ‘merely’ good. This is extremely difficult to do and only the most experienced of collectors master this.
Secondly I think the best collectors all have a particular ‘style’ to them. They follow their heart and stay true to their style no matter where the market is heading. They are not ‘herd’ followers. It is here where most collectors fail! This is the hardest part to get right.
What mistakes do collectors most often make?
E: They make three common mistakes: 1) they often don’t buy the best 2) they don’t hold on to their objects 3) they are herd followers 4) Collectors don’t understand to ‘overpay’ for the best.
Collecting is counterintuitive from a financial aspect – it often pays to ‘overpay‘. Many collectors have a problem with that. In almost everything I own, I have overpaid at the time and even questioned my own ‘sanity’. In retrospect it was always the best decision. Collecting has a lot to do with Psychology (see my post here). If you buy the best of anything – with time it will always prove to be an excellent decision in all aspects (financial as well as well as joy of ownership).
What mistakes have you made that you can share?
E: The biggest mistake I have made was buying an important watch and a very important car without ever seeing them. This clearly was a beginner’s mistake. I trusted pictures (the worst thing you can do). It amazes me how many collectors still do this mistake though. It is a mistake I vowed never to make again.
Lastly who has influenced you most in your life?
E: Clearly my mother. Although she does not collect anything she taught me the values that would serve any collector or investor well. 1) Be different than the rest. When most are turning left try and take the opposite turn. 2) Follow your heart 3) Don’t be greedy 4) And accept that there will always be others who are better than you.
*(Credit: Phillips watches)