High-end watch aficionados from all corners of the globe have been eagerly awaiting the latest ground-breaking timepiece, and Watchbox, a renowned e-commerce platform for luxury watches, has exceeded expectations. In their most impressive event to date, Watchbox took to the road, showcasing their “Retrospective Exhibition” of rare and unconventional timepieces from independent watchmakers.
During the brand’s visit to Dubai earlier this year, Arabian Business Traveller, was given the rare opportunity to see all 100 pieces — worth a staggering $26 million — and dare we say, they had us standing still in admiration.
We sat down with Watchbox CEO Justin Reis, who explained why these timepieces are proving so popular and how independent luxury watchmakers are pushing industry boundaries.
Who or what are independent watchmakers?
Independent, or “indie,” watchmakers design and produce watches outside the traditional structure of major luxury watch brands. They are often younger brands with smaller–scale operations, and they usually experiment with unconventional materials and unique complications that have become popular in recent times.
“The independent brands are seeing the most activity and attraction right now. Collectors want something that is unique. [Something] that speaks to their individuality,” explains Reis. And, as a result, these brands are focusing on craftsmanship and innovation, which push the boundaries of design and technology to create new and exciting timepieces.
OK. So why the sudden appeal?
According to Reis, the increase in the number of new collectors coming into the world every day is pushing this trend.
He adds that due to limited production capacity, traditional luxury watchmakers are struggling to produce new watches beyond what they made in the previous year.
What’s more, is the fact that collectors are seeking to find exceptional limited–edition pieces, and with vintage watches selling at astronomical prices and long waiting times for new luxury brand models, collectors are looking at alternatives that have not been widely explored before.
Interesting. So, who’s dominating the field right now?
The most sought–after brands right now are F.P Journe, H. Moser & Cie, and Everton. According to Reis, this is partly due to the vast amount of online information and the increased global presence and popularity that each of the brands mentioned is currently experiencing.
Hmm. So, how expensive are these watches? Are they worth investing in?
One of the independent watches on display was the F.P Journe Souscription Tourbillon, which is on sale for $3.5 million. The rare piece is just one of the first twenty tourbillon wristwatches made and sold by Francois–Paul Journe.
Each of the 20 watches were offered to friends and clients through a subscription system that aimed to raise resources for the watchmaker to launch his brand in 1999. And, with most of the pieces remaining with their original owners, the significance of the F.P Souscription Tourbillon watch cannot be overstated.
Additionally, in 2020, one of the 20 watches was sold for an impressive $2.5 million. The brand’s recent popularity has proved so impactful that famed auction house Christie’s named the brand “one of the greats”.
If you wanted to buy an independent watch, what do you need to look out for?
Collectors should look into the brand’s watch–making history. Once you’ve done that, Reis recommends finding pieces that stand out when the watchmaker deviates from previous designs and norms. These are the watches that will appreciate over time. Additionally, watches that tell a good story are also worth investing in, as, according to Reis — these are the ones that are currently increasing in demand and price.
Ok, so is now a good time to buy an independent watch?
The watch market has had a considerable up-rise and price correction in the last 12 months. Prices have stabilized and Reis believes that the long–term outlook for watches, in general, is very positive. That said, Reis advises that collectors prioritize looking for relatable watches that reflect their identity — irrespective of the investment. Additionally, he states that it is vital for collectors to remember the long–term perspective and to note that due to the advancements in technology, there is a lot of liquidity in the field. So, research is essential.
“Make sure you enjoy [the watch] and have fun. I love it when people come in, and say they have bought their first watch because it becomes an addiction, but do it in a balanced way”, Reis explains.
About Watchbox:
Watchbox has been revolutionizing the luxury watch industry since 2017 by offering a unique e–commerce platform for buying, selling, and trading pre–owned watches. With 1,800 company–owned watches across 12 locations, the company has become the industry’s leading and most trusted platform.
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