Well, you weren't wrong there, Alex. People who spent $20k and more for average examples 4-5 years ago may be even more unhappy about the depreciation than us vintage Rolex owners! 😝
Anyone worried about depreciation isn't a collector, rather a trader or gambler and, for them, "unhappy" should be a familiar emotion.
Collectors, due to their long-term perspective, are generally quite happy with their collections and excited about the new additions.
Neither is better, just depends on which disposition one prefers.
Most collectors buy and sell all the time ... collectors get a little sad when they buy something for $20k, and then see it selling for $12k a few years later.
One might argue a trader who thinks of themselves as a collector is either a compromised trader, or a compromised collector.
That is, one can reasonably argue an expert collector is certain about each new collected piece and the price of adding that piece now; a compromised collector isn't sure and trades the mistakes. That is, either the piece & price are right for your collection today or they're not.
Similarly, an expert trader enjoys the emotional chase, but realizes there's a price for chasing.
One might argue a trader who thinks of themselves as a collector is either a compromised trader, or a compromised collector.
That is, one can reasonably argue an expert collector is certain about each new collected piece and the price of adding that piece now; a compromised collector isn't sure and trades the mistakes. That is, either the piece & price are right for your collection today or they're not.
Similarly, an expert trader enjoys the emotional chase, but realizes there's a price for chasing.
Collecting and trading can intersect, but to me they stem from different core mindsets ... ensuring that their choices not only align with their vision but also make financial sense.
One might argue a trader who thinks of themselves as a collector is either a compromised trader, or a compromised collector.
That is, one can reasonably argue an expert collector is certain about each new collected piece and the price of adding that piece now; a compromised collector isn't sure and trades the mistakes. That is, either the piece & price are right for your collection today or they're not.
Similarly, an expert trader enjoys the emotional chase, but realizes there's a price for chasing.
This is a very simplistic and binary view. Collectors buy and sell often, and in a great deal of those instances it's buying a better example of the watch and selling on the lesser example you had. Regardless if you are a trader or collector, if you are actively buying or selling watches, pricing is important.
That's my specialty!
But I guess there's lots of agreement here that being a "collector" is a pretty complex thing.
I don't think anyone here who is familiar with him would doubt that he is a collector
[ nice guy stuff ]
I don't see that as something a "trader" would do...
Good points; didn't mean to imply there's any "right" or for anyone to take the discussion personally, just fun discussion. Obviously the definitions are whatever anyone wants them to be.
With that, notionally, I tend to (wrong I guess?) think of "collectors" as buy & hold types ... and I probably couldn't write up a better definition of a trader in any pursuit better than you did here:
- publishes valuable information [on target asset],
- tracks [asset] prices based on real life transactions (which he also publishes)
- regularly buys and sells a lot of [asset]
That kind of sounds like the Wall Street Journal of trading speedmasters, no?
I'm not sure what it is you are saying.
By "collector" I meant a hobbyist who buys & holds; they don't really care about the price after purchase because they already own it & don't plan on selling it, ie they only "collect" things.
