What is the ideal number of watches for a collector to own? And what exactly is meant by ‘collector’ anyway?

It is these two questions that I will seek to answer in what I call the collector series of posts.

Part I – we will look at what defines a collector and the different types and part II will be dedicated to the billion dollar question: how many watches should a collector own. 

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When people talk about a watch collector what exactly do they mean? 

Is a gentleman who has an evening watch and a day watch considered a collector? Similarly is a man who has a sports car, an SUV for the winter, as well as a convertible for the summer – a car collector? No. Not in my view. Like a friend of mine said, ‘ I have a 100 ties in my closet but does that make me a collector of ties? Surely not’. 

I believe a watch collector goes beyond the purpose of owning a watch for a specific function.

For example, a man might own a few elegant watches for the evening and a few sports watches for leisure time but that does not make him a collector. No a collector has to have a deeper commitment to watches.

In my view a collector is defined by someone who owns several timepieces that go beyond any functional reasoning. It might be that a collector loves complicated watches and owns all the Chronographs from Patek with a perpetual calendar (1518, 2499, 3970, 5020, 5970). Or a collector loves vintage diving watches and owns a Longines diver, a JLC Deep sea alarm or Polaris as well as a 5512 and 5513 submariner.

This in my view is getting more into the definition of what I call a true ‘collector’.

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There are indeed many type of collectors.

I know (or better said have heard about) one collector who has an estimated 1000 watches of all different brands. The only common thing all watches have are: quality. I have heard about another collector who only has 12 watches in his box (which also has space for only 12 watches). If he wants another watch he has to sell one watch (I kind of like this strategy).

Then there are collectors like the ‘The Journe guy’ who only collects, you guessed it – FP Journe, so collectors who are only devoted to one brand (I believe many Patek collectors fall into this category).

While there are many different strategies of collecting, I also believe that we can categorise collectors in terms of behaviour.

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It is perhaps naive to try and put collectors into different categories but I will give it a shot. Here some of the more common collectors I have come across:

• The ‘horizontal’ & broad collector: This collector buys what he likes without much strategy or thought. He is not really constrained by budget. He buys whatever speaks to him. He buys often and from various sources: dealers, auctions, watch collectors. Buys new watches. Vintage watches. This collector typically has way over 100 watches. Sometimes 1000s. He is not devoted to any brand and buys whatever catches his eye. Also known as a ‘horizontal collector’ this collector collects many brands and also collects many different functions (chronograph, time only, pocket watches etc.). A collector who for example collects many different models within one brand (for example a Rolex collector- collecting Explorer, Submariner, GMT Master and Daytona) is also referred to as a ‘horizontal‘ collector.
• The vertical collector: This collector is a complete fanatic often obsessed by details. For example he will collect different Rolex submariner 5512 (square crown guards, underline, exclaimation point, pointed crown etc.). Or a collector only devoted to collecting different Patek 2499 (various series with different signatures of retailers). These collectors are sometime called  ‘vertical collectors’ meaning they stick to often only one brand and go deep into the brand and model line within a brand. For example a collector who only collects GMT’s but various iterations (6542 bakelite, double swiss, underline, pointed crown guards etc.). Or a collector who only collects perpetual calendar chronographs from Patek falls similarly into this category. This collector is motivated by passion only. Store of value is secondary concern. Out of all the collector categories this collector type scores very high in terms of passion (and obsession and paranoia).
• The trophy asset collector: This collector buys only the best watches. Impossibly rare watches. Most of his watches sit in a safe with only one or two watches being worn. They are watches for him but also regarded as ‘assets’. They are often NOS watches, never touched and never worn.  Out of respect for condition he views himself as a temporary custodian and leaves them unworn and sitting in a safe. He has maybe 30-50 watches but all are first class (and worth tens of millions). Often this type of collector focuses on one or two brands at most. The trophy asset collector therefore is not really a horizontal collector but more a vertical collector. His primary motive is passion but also seeking quality, rarity and owning the best. Store of value is also paramount importance to him.
• The strategic collector: This collector gives much thought to what he buys and also needs to budget even though it might be at a high level. He loves all brands but mostly is devoted to one or two brands. He wears his watches but also regards them as a good store of value. This collector only tries to buy the best. He needs to sometimes (although rarely) sell a watch to upgrade to another watch. He is constantly thinking about what models would fit his collection. This collector is strategic in his approach. This collector typically has 15-25 watches. He can be both a vertical or horizontal collector. His primary motive is passion and but also has eye to store of value. 
• Investor / collector: This collector tries to find undervalued watches that represent excellent value. Hoping to find the next ‘Paul Newman’ this collector often seeks under the radar brands like Universal, Omega, Tavannes, Heuer rather than Rolex, Patek or Vacheron. This collector will also seek out ‘overlooked models’ within Patek or Rolex that have shown little appreciation in values. His motives are both passion but also store of value.
• Dealer / collector: This type is a collector but will sell at almost any chance to earn a profit. He collects but does not hold on long to his watches always looking for a deal and a trade. I view many dealers (though not all) as this type of collector. They are primarily dealers but have built their own collection with time. Primary motive is often (though not always) making money. They are often extremely passionate though as they need to understand all the details better even than the collectors (whom they often sell to).
• Accidental collector: This collector didn’t start out to be a collector as such. He received a watch perhaps for his 18th birthday, bought an evening watch and found himself with 3-4 watches. He then decided he liked watches and started buying more of them slowly gravitating towards vintage watches as well. I think many collectors start out this way. Most accidental collectors never become serious collectors or true collectors (who own watches beyond a functional reasoning). However some of them do and go on to be serious collectors in their own right.

I think it is important for every collector to reflect and think what kind of collector he or she is. Maybe some collectors fit none of the boxes above.

I started out as an accidental collector. However I have moved on and now consider myself a ‘real’ collector. In fact if I had to choose a category – I believe I am perhaps the ‘strategic collector’. I also closely associate with the trophy asset collector as well as the vertical collector. Let me explain.

I personally believe in wearing ALL my watches including those with bakelite bezels, those that are NOS and trophy watches I might own. I don’t believe in leaving my watches in a safe. I don’t buy them to make money- this is not my primary objective. Having said that I also make sure that my watches hold their value extremely well.

I try and only buy the best that I can afford. I believe less is more and want to own two dozen outstanding pieces rather than 40-50 watches. I concentrate on one or two brands only.

At times I am tempted to be also a trophy asset collector but lack the financial firepower.  But I like to wear my watches so buying watches that are unworn or like new old stock (nos) is not my primary goal. At times I am also tempted to be a vertical collector. Out of all the collector types I have perhaps the most respect and admiration for this type due to the obsession and passion. However my main concern here is that my collection would expand to more than 40-50 watches – which then means I would have a problem wearing all of them.

This leads me to next part of the collector series: What is ideal number of watches to own? See the answer in my next post here.

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For those of you interested in learning more about the psychology of collecting please our post here.

(Main picture credit: Kkevalll)

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A picture which nicely illustrates the concept of a vertical collector is the picture of Bill from PuristSPro below. A GMT Master collector showing different variations of the 1675 together with one 6542 – the first GMT Master model.

Another example of vertical collecting is this collector who collected examples all within the same date: III 1958 (so third quarter of 1958). From left to right a 5508 small crown, a big crown 5510 and a GMT Master 6542.  All are early vintage Rolex models (Credit: Vijay Singh).