Well, here we go again - Luxury brands investing in watch companies. In case you missed it yesterday, MB&F announced that Chanel has made a 25%investment in the company, with the investment in MB&F following investments in independent watchmakers Romain Gauthier and F.P. Journe.

In the wake of the speculative hype cycle in the watch industry, I find myself questioning what it means to be a collector. Does a large volume of watches make you a collector? Can you buy/sell/trade, have a smaller collection and still be a “collector”? What does it mean to have a smaller collection? Does it mean you are no longer a collector?

Are we, as collectors, media, and consumers, expecting too much from the brands we love? I believe the answer is yes.

The watch industry’s current release cycle is well established: a spring release for Watches & Wonders and a late-summer release for Geneva Watch Days. While some of the industry players like Richard Mille, march to the beat of their own drum and release watches as they are ready, many brands feel compelled to stick to this twice a year release schedule. Many brands only participate in one release cycle annually at Watches & Wonders. Even on a 365 day release schedule, the pace can lead to the dilution of creativity, and I would argue for many brands it has.

Cyclists already spend a lot of money to buy the latest kit, the newest bike, and to buy equipment that our favorite teams and riders are using. Some go so far as to buy the official team kit of our favorite teams. It only makes sense that we would also want the same watches that are on the wrists of our heroes.

During the COVID-19 pandemic, the watch industry saw a surge in popularity due to lockdowns and increased disposable income. However, the landscape is shifting as smartwatches become more prevalent. The Swiss watch industry initially underestimated the threat of smartwatches, but with nearly 71 million units manufactured in 2023, this segment is growing rapidly.

Smartwatches offer numerous features and seamlessly integrate into our digital lives, while mechanical watches provide a luxurious analog escape from constant notifications. The watch industry now has a unique opportunity to adapt and innovate, focusing on simplicity and timeless appeal.

With the launch of the MB&F Legacy Machine Sequential Flyback, MB&F takes a new approach to their Legacy Machine Series.

Amidst the new releases and innovations, Watches & Wonders signaled a few notable changes across the watch industry. This year highlighted evolutionary trends, rather than a revolutionary shift in the industry.

Contrary to popular belief, collecting has never been about numbers; it’s about cultivating a deep love and relationship with the objects themselves. I’ve met collectors who couldn’t tell the difference between a calendar in a chronograph but have owned many of each, and I’ve met collectors who own a G-Shock but could explain in depth movement details about Patek Minute Repeater movements. It’s a spectrum, appreciate what you have and what you know.

I have often said that watches are the ultimate form of self-expression. At six years old, when I saw a contemporary of my father's wearing a yellow-dial dive watch on a yellow strap, it stood out because it was so different from regular old boring finance-guy attire (read: a gold Rolex). When I saw that watch, I learned that watches are a way to tell others something about you. And for me, that has made watches, and the people behind them, fascinating.

My piece, The Opportunity for Watchmakers, focused on how smartwatches provide a seamless user experience. As an industry, it is our responsibility to educate first-time buyers and seasoned collectors about how to take care of their mechanical watches, and ensure they know when, where, and how to get their watch serviced.

Today I welcome URWERK Co-founder and head of design at URWERK, Martin Frei. Martin is a wealth of knowledge and philosophical thinking and at the roots of URWERK. He has designed URWERK’s watches with the human and collector at the center of the designs. He is fascinating and full of stories about the design and development of URWERK and the design language over the years. 

Something Benoît Mintiens said in our recent interview on my podcast Forward Momentum, really stood out to me. I asked him whether he felt a pull to protect the craft of watchmaking. His response floored me.

URWERK have a new “Lighstpeed” edition of their venerable UR-100 series, building on an incredibly popular URWERK model that has not only been a commercial success for URWERK, but has allowed them to lower their price point to offer a more attainable version of their incredible watches and satellite time-telling complication.

Ask any watch collector what they wish they knew when they started collecting and you’ll likely get a laundry list of advice. Watch collecting isn’t necessarily intuitive: there’s a required understanding of the brands, understanding the luxury conglomerates that own brands, the dynamics of vintage watches versus modern watches, the difference between independent watchmaking and microbrands, and understanding the retail environment.

At best, it’s a confusing landscape.

While hindsight is 20/20, there are three key lessons based on this that I have learned with time.

I’ve thought a lot about where watch collecting is going in 2024. It was clear speaking to collectors, retailers, and brands that things are changing. The shift towards more purposeful collections, emphasis on significance, and the rise of independent watchmaking are becoming clear themes for collecting in 2024. What do you see as a clear theme for watch collecting in 2024, or more specifically for your personal collection?

Coming up we have the last auctions of the year in New York. Christie’s kicks off the New York auction week on December 5th, followed by Sotheby’s Important Watches on December 7th, with the Phillips The New York Watch Auction: NINE bringing the week to a close on December 9th and 10th.

The end of the auction season is always punctuated by auctions in Hong Kong, and New York. With the end of Dubai Watch Week, the remaining two watch industry events of the year are these auctions. Taking place on November 24-26, Phillips and Christie’s will have auctions in Hong Kong, and on December 7th Sotheby’s New York Auction will take place, and Phillips on December 9th. Let’s have a closer look at the lots on offer in Hong Kong.

The first time I saw HM11 Maximilian Büsser had a sly grin on his face when he mentioned this horological machine took inspiration from architecture. Immediately my head traveled back to his instagram account to a period where he was posting nothing but post-modern architecture from the 1960’s. And in my head these images stood out; I knew something was afoot in the brain of Maximilian Büsser.

Have you ever wondered what it takes to be a master watchmaker and to preserve the legacy of iconic watchmakers? Or have you ever wondered what it takes to build a watch brand? In this episode, my guest Luca Soprana shares his journey into the world of independent watchmaking and his mission to protect the legacy of Derek Pratt.

What’s happening, watch fans? It was my privilege to host my friend and CEO of Alex Crown, JDR, on the Forward Momentum Podcast. Join us for an insightful conversation about JDR’s passion for watches, independent watchmaking, and the intersection of the sartorial world and the watch world. With an unwavering passion for horology, JDR's influence extends far beyond the realm of collecting - he's a driving force in the watchmaking industry.

In this episode, we embark on a journey through the art of watchmaking, exploring the emotional connections that tie generations of JDR's family together through watches, and where craftsmanship meets style.

JDR’s insights promise to ignite your horological curiosity. Get ready for an episode packed with hidden stories that unveil the captivating world of watches.

Tune in now and let JDR's passion for horology inspire your collecting journey.