On Monday FT Edit launches Inside Watches, a week-long series showcasing the very best FT articles about the world’s most incredible timepieces, the people who make them — and the buyers who spend a fortune on them. Here, George Kyriakos, the FT’s watches and jewellery editor, gives us an insight into what drives the obsession.
Twenty years ago, one Egyptian horophile had accumulated more than 50 Patek Philippes — not one of which he had removed from its hermetically-sealed plastic packaging.
His explanation? “That way, the enjoyment of anticipation never goes away.”
In contrast, others collect because they cannot resist the next big thing, because they have become fixated on a particular brand, model or type or, quite simply, because watches do not present the same storage and maintenance problems as other typical collectibles such as classic cars. motorcycles, wine or books.
For super collector Patrick Getreide, it is all about condition, rarity and provenance, His remarkable OAK Collection (for One of A Kind) of more than 400 pieces may not be the biggest in the world, but it is likely to be among the most valuable.
“As soon as I achieved a moderate level of success I began to buy watches at prices I could afford,” says Getreide. “Gradually that amount increased, the watches became better and the passion for collecting them became stronger.”
The result is that Getreide now owns dozens of watches valued at more than £1mn apiece, among which are five Patek Philippes that once belonged to the celebrated prewar collector Henry Graves Jr — the largest holding of such watches outside of the brand’s own museum.
But part of the joy of watch collecting is, perhaps, the fact that it does not need to cost a fortune.
Interesting and attractive vintage pieces can still be had for hundreds, rather than thousands, and those prepared to explore lesser-known contemporary brand names will find an abundance of well-made and wearable watches.
And while they may not cost as much as the famous, high-end models, the design and style can be just as good — not to mention the pleasure derived from collecting them.
Catch the Inside Watches series starting on Monday in FT Edit.
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Last weekend was the FT Weekend festival in Washington DC. Among the guests was author Salman Rushdie, in one of his first public appearances since he was stabbed on stage in New York last year. You can watch his discussion with Edward Luce below.
This post was originally published on Financial Times
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