The state of today’s luxury market

Mr. Dufour’s rather sharp retort makes sense, even though it sounds counterintuitive. After all, a major reason why certain luxury goods are more popular than others is simply because they are not only able to retain their value both financially and as status symbols, but they are also highly sought after years after their original release. Having such a product as part of their portfolio is also partly what keeps legacy brands in business.

But as Jean-Frédéric has pointed out, there are ‘dangerous’ consequences when consumers treat luxury items as an important part of their successful investment portfolios.

Between 2020 to 2022, the luxury market was riding on a ridiculous high. Nearly every business, from auto to fashion, lifestyle and timepiece brands, was reporting unprecedented profits, while eager buyers, unable to get their hands on newer releases, turned squarely to the secondary market. This in turn caused the prices of pre-owned goods to skyrocket, and ‘smart investors’, realising there was quick profit to be made, turned the whole situation into a Ponzi affair, buying and selling on the secondary market rapidly and driving prices even further upwards.

By 2023 however, the story began to change. Economic downturns, geopolitical turmoil from warring nations in Europe and more recently, the Middle East, and political instability among other issues caused aspirational customers and the affluent to slow down on luxury spending. Luxury retail stores that had increased their stock to accommodate the increased demand are now stuck with excess merchandise, and as for consumers who had accumulated luxury goods in the hopes of making a quick profit? Well, like the businesses, they now have to deal with products they may or may not be able to sell for a profit.

The rise of superfake luxury goods

Imitation luxury goods have existed as long as there has been a demand among consumers to flaunt a lifestyle they cannot afford. And while there is no official correlation yet, it appears that superfake luxury items – imitation luxury goods that are so close to the original that it is hard to detect at first glance – began to increase in popularity at the same time as demand for luxury goods exploded.

It does not come as a surprise. Wherever there is a high demand, there are always opportunists waiting to take advantage of those who do not know better.

Have Rolex and other luxury watches now lost their investment value?

Short answer? No.

In a recently concluded sale in Hong Kong, Sotheby’s reported that it had set two new sales records in its Important Watches I category. The first was the Patek Philippe Reference 2526 – the brand’s first self-winding wristwatch made especially for renowned collector J.B. Champion – that sold at US$729,977, while the second, a Cartier ‘Paris Cloche’, No. 1/1 quadrupled estimates to sell at US$210,882.

And this is not a standalone event. Luxury timepieces continue to sell on the secondary market at a higher value than their brand-new counterparts, just not at the same frenzied pace as during the pandemic, and definitely not at the outrageously high markup prices as two years ago.

Should you take Jean-Frédéric Dufour’s advice and not treat the Rolex – and other luxury timepieces – as a luxury investment?

Yes and no.

Yes, because, unlike stocks, they are products that have been created for everyday use, not just to have and to hold until there is a high demand for them on the secondary market.

And no, because at the end of the day, true, high-quality luxury items — if they are treated right — make great alternative investment portfolios, regardless of how the brands feel about this.

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What are superfake luxury items?

These are basically counterfeit items that are hard to detect with the naked eye.

Imitation of luxury items, or just about any kind of imitation is not new and has indeed existed for a long time. It is why the Paris Convention for the Protection of Industrial Property, and, the Berne Convention for the Protection of Literary and Artistic Works were both signed as early as the 1880s to protect the intellectual properties of goods and services.

However, while it was much easier to detect counterfeit luxury items in the past, the rise of technology coupled with the indefatigable spirit of die-hard imitators and increased demand for hard-to-detect fakes has led to the birth and subsequent rise of superfakes, AKA real fakes.

Rise of superfakes in Asia

To date, China remains the home of superfake luxury goods, even though other countries like Bangladesh and Indonesia are catching up quickly. In fact, the latter is leading in superfake handbags, although some sellers say they source from China.

Other countries like Turkey and the Netherlands also have home-based counterfeit factories, but none comes close to China, Hong Kong, and other Asian countries. Different reasons have been cited for this, but the real explanation is that most brands, luxury or otherwise, actively produce in Asia to cut costs.

As this quote attributed to industrial design writer Rain Noe says, “If a human being contracted by Nike can accurately sew a pattern, a human being not contracted by Nike can, too.”

Superfake luxury goods are on the rise beyond Asia too

Only recently, Watchfinder & Co released a report stating that over a million counterfeit luxury timepieces are currently circulating in the UK. This seems like a huge number until you consider the fact that the report also says that at least 40 million counterfeit timepieces are sold annually all over the world.

The rise of e-commerce has worsened the distribution of these real fakes, and in spite of laws and technology, the sale and demand of these items continue to boom.

Do superfake luxury items mean luxury brands are merely selling a feeling instead of quality?

This is usually the excuse those who actively buy counterfeit luxury goods give. However, it is far from the truth.

Anyone who has (un)consciously bought items in this category finds out quickly that they are not built to last, no matter how closely they resemble the real deal. Per the Watchfinder & Co report, 16 per cent of the counterfeit watches broke down after light usage. Those who buy fake luxury purses find out that the stitching unravels after a few uses, or the leather begins to peel after a brief stint outdoors.

In the end, it is imperative to remember that every business exists to make profits, and since manufacturers of these items are promising replicas at cheaper prices, it only makes sense that they would be using cheaper, inferior materials in their construction.

Unfortunately, cheaper does not always mean inexpensive: some of the superfake bags in Jakarta’s Mangga Dua market, dubbed ‘Hong Kong Alley’ by some locals, cost anywhere from $1000 to $10,000, depending on how close to the original they are.

A Kelly crocodile-skin replica could easily cost $10,000, and, on the surface, looks like a steal since the real deal goes for $41,000. That is until you consider that you may have to buy another one just six months later because your superfake has unravelled and peeled badly.

Luxury brands are trying – and failing – to stop this menace

From working with law enforcement to using technology (hello, Aura blockchain consortium anyone?) to curb this menace, luxury brands have tried and are still trying to stem the counterfeit tide. Yet, nothing has worked effectively so far.

This is because at the end of the day, the decision to buy fakes comes down to the individual, and you can only influence a person so much.

Counterfeiters have to be stopped, however, since they end up eliminating the exclusivity and originality that are major characteristics of luxury items. Unfortunately, they cannot be completely eradicated, and all affected brands can continue to do is try and put up a fight every time these superfake manufacturers evolve.

Superfake or real fake luxury goods are sadly here to stay, and while we trust the brands to stay on top of the situation, as individuals, the best we can do is ensure we take all the necessary steps to avoid being victims.

The post The Superfake Luxury Industry is Evolving — and Booming first appeared on Aspire Luxury Magazine.

The post The Superfake Luxury Industry is Evolving — and Booming appeared first on Aspire Luxury Magazine.

Not only has it reported that counterfeits in circulation in the UK have surpassed one million, but its research has also revealed that theft of luxury watches is on the rise. As of last year, the pre-owned luxury watch brand recorded about 6,815 pieces missing, a 60% increase from the previous year.

This is not surprising. Although prices of luxury timepieces continue to fall from their pandemic highs, they are still more expensive than they were pre-pandemic, and resellers will still definitely command a higher price than current retail value should they choose to sell today. For example, the Rolex Cosmograph Daytona 116500 model is listed at around $29,000, nearly double its original price, on the luxury watch price tracker, WatchCharts. On the same site, a Patek Philippe Nautilus 5711 stainless steel model goes for $103,357 on average, a threefold increase from its retail listing of $34,890.

If you’re looking to add a luxury timepiece to your rotation, here are some useful tips to keep in mind in times like these

1. Avoid making purchases where counterfeit pieces are high in circulation.

Per Watchfinder & Co, the UK is currently one such place. But in reality, counterfeits of luxury items are on the rise everywhere as they continue to prove to be valuable assets in and out of times of economic uncertainties.

Which may make it better to

2. Avoid the secondary market.

Especially if you cannot confirm the authenticity of the reseller or access credible pre-owned luxury watch dealers.

However, getting new models of some luxury timepieces is nearly impossible, since some are limited editions restricted to loyal customers or have been discontinued. If the timepiece you’re looking to buy falls in these categories, then it is best to

3. Employ the services of a trustworthy personal shopper.

Personal shoppers are known to source for deals that are not available to the public, including hard-to-get items. Instead of relying on online/offline secondary markets that may or may not have authentic timepieces on display, a better option would be to leave the sourcing and authentication of your desired timepiece in the hands of an experienced personal shopper.

But remember, theft of luxury timepieces is on the rise, which means you may end up still losing out even if your Rolex is the real deal. To this end, you may want to

4. Get your luxury timepieces from ‘less popular’ luxury brands or indie houses.

Although the value of luxury timepieces has skyrocketed since the pandemic, not all luxury watch houses have enjoyed this hike in value. In fact, it appears as though this ‘windfall’ is restricted to only Patek Philippe, Rolex and Audemars Piguet.

Try timepieces from other luxury brands that are still valuable but without the ‘hype’ associated with the big three. However, if you already own one from any of these labels

5. Be careful of the places you wear your timepieces to.

Keeping them safe includes not taking them to areas that are known to be unsafe and environments whose security you are not sure of.

It is also a good idea to insure your timepieces, so that, in the event they ever get lost, you do not lose both the watch and the money used in getting it.

The post Here’s Why Owning a Luxury Timepiece Now is More Challenging than Ever first appeared on Aspire Luxury Magazine.

The post Here’s Why Owning a Luxury Timepiece Now is More Challenging than Ever appeared first on Aspire Luxury Magazine.

This year, the premium timepiece manufacturer has gone all out in its updates, even with those it labelled ‘subtle’. Now, if you have ever wanted a Rolex you can fall in love with immediately, no questions asked, here are some hard-to-resist 2023 models to have and to hold, possibly forever and ever.

The Cosmograph Daytona

60 is such a big year – maybe no bigger than 100 or as widely celebrated as 50, but significant all the same – that you would expect Rolex to pull out all the stops for the Cosmograph Daytona’s 60^th. But this is Rolex, and while its 2023 releases are proof that it can be just as fancy as some of the masters of over-the-top horology, it chose to go the route of simple elegance that underscores many of its models.

The 2023 Rolex Cosmograph Daytona looks like its predecessor until you look closer and see that the hour markers are smaller and there are metal disks surrounding each chrono register. What is unmissable however are the available colours in this latest drop: the yellow gold model with Oysterflex bracelets and the rose gold variant with a black dial are impressive. But the show stopper here is the special 950 platinum model with an ice-blue dial and chocolate bezel that features the first-ever transparent case back in this series.

The Perpetual 1908

Complicated timepieces and toolsy watches are fine and dandy, but sometimes, we just want pieces that tell the time. The brand-new Rolex 1908 does exactly that: this new dress watch model tells you precisely where you are in our 24hr timeframe with its added Superlative Chronometer feature.

The 1908 is named after Rolex’s start year as a timepiece manufacturer, and its black or white dials are paired with either yellow or white gold and finished off with black or brown alligator straps that make for a truly understated, yet refined and classy piece.

The GMT-Master II

Yellow is back in the GMT-Master II collection and makes an appearance as a full 18k yellow gold model or a new two-tone rolesor-fitted variant.

The combination of a less-black Cerachrom bezel with a blacker dial result in a very serious-looking, mature and highly-desirable GMT-Master II

The Oyster Perpetual

For the 2023 model of its Oyster Perpetual, Rolex switches from serious to playful by infusing the dial with what seems to be all of the colours from the 2020 version. The bubbles dominating the turquoise-blue dial come in candy pink, mustard yellow, coral red, and forest green shades.

The Day Date 36

If you ever thought ‘fun’ is an alien concept in the world of Rolex, the Crown brand is out to prove you wrong.

The Swiss watchmaker has definitely shown it has a thing for colours over the years, but to include a jigsaw design on the dial, replace the day of the week function on the window display at 12 o’clock with affirmative words like “Happy,” “Eternity,” “Gratitude,” “Peace,” “Faith,” “Love,” and “Hope,” and, swap the date feature at 3 o’clock with emojis like the heart?

Indeed, even Rolex must have surprised themselves with this new Day Date that appears to be nothing like the pieces we know. And, if this unexpected shift is too much for you, don’t worry: the Crown has a toned-down, bedazzled version with colourful stone dials in emerald, turquoise and orange.

The post This 2023, Rolex has crafted a Timepiece Specially for You first appeared on Aspire Luxury Magazine.

The post This 2023, Rolex has crafted a Timepiece Specially for You appeared first on Aspire Luxury Magazine.

The short answer? Because it is Rolex, and it can.

But in reality, the answer is a bit more nuanced than that. In 1926, Rolex produced the first waterproof timepiece – the Oyster – earning a reputation (at the time) as the brand with the waterproof watches. At this point, it had two choices — move on from this niche and break other engineering records in the watchmaking world, or, attempt to break other records while improving the waterproof capabilities of timepieces.

Rolex chose the latter.

In 1960, strapped on, and accompanying the Trieste bathyscaphe on its historical descent into the deepest place on earth, the Mariana Trench in the Pacific, was the Rolex Deep Sea Special No 3. After making it to a remarkable depth of 10,911 meters, the timepiece emerged intact and in perfect working condition.

In 2012, fifty-two years after a Rolex timepiece journeyed for the first time to the depths of the earth, another would make this same eventful descent. This time, it was the Deepsea Challenge, attached to the manipulator arm of filmmaker James Cameron’s submersible. Produced in just eight weeks, the timepiece once again survived the plunge, coming up above the sea without sustaining any damage.

Once again, Rolex had proven that it is truly the king of waterproof timepieces and all other brands are only playing catch up.

But there was a problem.

Both the Deep Sea Special No 3 and the Sea-Dweller Deepsea Challenge were simply experimental timepieces that could not be worn for everyday use, which is another thing Rolex prides itself on (all Rolex timepieces are designed to be worn everywhere at all times). Omega had not only managed to surpass Rolex’s record – in 2019, its experimental Seamaster, affixed to Victor Vescovo’s submersible, reached a depth of 10,916 metres, 8metres more than Cameron’s 10,908 – but also managed to come out with a commercial variant earlier this year, the Seamaster Ultra Deep Pro with a depth rating of 6,000metres.

Rolex had to do something.

Enter the Deepsea Challenge RLX Titanium, Rolex’s unique way of saying that while its crown may be temporarily taken away, it cannot be permanently retained.

The Deepsea Challenge is not just phenomenal because it is the first timepiece that can survive in depths no human can ever survive in. This clearly is part of its appeal, and for those who would be lucky to get it (Rolex watches are as notorious for their scarcity as they are for their sturdiness), they can rest assured that they have a timepiece that can thrive in any weather. Rolex has not said so, but if the Deepsea Challenge can hold its own in the world’s deepest depths, where else can’t it survive?

What is truly remarkable about the Deepsea Challenge, however, is the fact that it is the first timepiece in Rolex’s history to be made from titanium; in this case, the brushed RLX titanium, an internal name for grade 5 titanium. Titanium as a material is not new in the world of horology, and yes, Rolex is a late bloomer in this regard. But it says something about the brand that when it made the decision to introduce titanium into its pieces, it made sure it did so in the grandest way possible.

But then again, the decision to use titanium in making the Oyster Perpetual Deepsea Challenge was born out of necessity. In order to withstand all the pressure in the depths of the sea, Rolex had to make this particular model big: it is 50mm in diameter and 23mm in thickness (of that, 9.5mm is the sapphire crystal). A steel timepiece with these measurements would have been rather too heavy for everyday wear. Titanium with its resilience, flexibility and lightness was the sensible alternative.

Other than that, the Deepsea Challenge retains all the tech that makes Rolexes such standout timepieces. It has the ring lock system which allows the timepiece withstand extreme pressure, and, the helium escape valve which enables surplus gas to escape from the watch during a diver’s decompression phase. It is also fitted with the Rolex Glidelock and Fliplock extension systems so that it sits comfortably and snugly on its owner’s wrist, whether they’re sporting a short-sleeved T-shirt or have on a diving suit up to 7mm thick.

One last thing. On the back of the case of the $26,000 Deepsea Challenge RLX Titanium are the words: ‘Mariana Trench. 23-01-1960. 26-03-2012.’ Of course, you already know what they stand for, but just in case you ever forget, Rolex wants you to remember that this is one timepiece that is capable of going anywhere with you, even if that ‘anywhere’ is the deepest depths of our planet.

The post Wondering Why the Rolex Deepsea Challenge RLX Titanium exists? Here’s the Reason first appeared on Aspire Luxury Magazine.

The post Wondering Why the Rolex Deepsea Challenge RLX Titanium exists? Here’s the Reason appeared first on Aspire Luxury Magazine.

Apparently, just like certain auto models in Nigeria carry the monikers, ‘baby boy’, ‘big daddy’ and ‘muscle’, among the Rolex collector community, names like ‘Pepsi’ or ‘Batman’ mean something completely different from what the rest of the world is used to. Of course, with very few exceptions, these nicknames did not originate from the brand itself and are mostly inventions of the community.

So, what are these nicknames? Well, here they are!

Batgirl

The Rolex Batgirl is none other than the GMT-Master II reference 126710BLNR with a blue and black bezel insert and a Jubilee bracelet.

This model got its nickname after the addition of the Jubilee bracelet in 2019 and a new generation movement. However, as this reference is currently available with either a Jubilee or an Oyster bracelet, it is hard to distinguish it from its ‘Batman’ counterpart without its box and papers or an expert to confirm the interior calibre.

Batman

The Batman is the GMT-Master II reference 116710BLNR introduced in 2013 with a blue and black bezel insert. This model was the precursor to the Batgirl, and, as explained above, unless you’re an expert in Rolexes, it will be hard to differentiate between both models.

Bart Simpson

Close your eyes for a moment and picture the very cheeky Bart from The Simpsons. Now, open your eyes and look at an example of the 5513 Submariners. You’d agree that this particular moniker is rather apt.

Made in the mid-1960s, certain 5513 Submariners – which were the last to feature “gilt” printing – have a coronet (the Rolex crown logo) that looks like Bart Simpson’s hair.

Bubbleback

Early Oyster Perpetual models were outfitted with movements whose design necessitated a slightly raised, ovular case back that protruded from the plane of the watch case – hence the bubbleback nickname.

Rolex made gobs of these small yet beautiful timepieces from the 1930s through roughly the 1950s.

Buckley

A type of Day-Date or Datejust dial that features painted Roman numerals rather than applied versions. The nickname for this Rolex model comes from one John Buckley, a collector and dealer based in NYC, and a big fan of this dial type.

Coke

Yes, Coke. The soft drink that is.

A Rolex Coke is a GMT-Master II with a red and black aluminium bezel insert which first appeared on the reference 16760, and subsequently on the reference 16710. Currently, there is no “Coke” in the Rolex catalogue.

Fat Lady

This particular moniker does sound a bit offensive, so if it bothers you a bit, you can use ‘Sophia Loren’, which is the alternate nickname for the GMT-Master II ref 16760.

When this model debuted in 1983, it featured a case 0.5 mm thicker than its predecessor (the ‘Coke’) in order to accommodate a new calibre 3085 movement. ‘Sophia Loren’ here is in reference to an Italian actress famous for her curves. Ref 16760 included a sapphire crystal, white gold hour surrounds, and independent local hour setting, making it the first truly modern GMT-Master variant.

Green Lantern

Earlier this year, Rolex released a left-handed GMT-Master II with a green and black bezel that technically has three aliases: ‘Green Lantern,’ ‘Sprite,’ or the ‘Destro’ (Italian for right because left-handers are meant to wear their timepieces on their right hands) depending upon whom you ask. It’s available on both Oyster and Jubilee bracelets.

Hulk

A more robust version of the ‘Kermit’, the Rolex ‘Hulk’ is a green Sub with ref 116610LV that features a green Cerachrom bezel, a green dial, and a Rolex ‘Super’ case.

John Player Special

This is a Daytona ref 6264 or 6241 in solid gold with a black exotic dial.

It is named after John Player & Sons, a UK-based tobacco company and Formula 1 sponsor. The company’s cigarette boxes were black with gold lettering, hence the association.

Kermit

The precursor to the ‘Hulk’, the Rolex Kermit is a ref 16610LV Submariner Date introduced in 2003 in time for the Sub’s 50th anniversary.

For the first time, a Rolex featured a green bezel insert, executed here in aluminium, which lent it its Muppet-themed nickname.

Paul Newman

A ‘Paul Newman’ is any hand-wound Daytona with what Rolex referred to as an ‘exotic’ dial — a series of dials manufactured by Singer that featured blocky indices in the sub-registers as well as funky Arabic numerals and pops of colour.

This model earned its nickname because the famed actor wore at least two different Daytonas with these dials – most famously, his reference 6239, which hammered in 2017 at auction for close to $18M.

Pepsi

Any GMT Master or GMT Master-II with a blue and red bezel is a Pepsi, regardless of its ref. This colour combo originally came about as a nod to PanAm’s logo, as the GMT-Master was created for the airline’s personnel.

Polar

The Rolex ‘Polar’ is an Explorer II with a white dial, which could be a reference 16550, 16570, 216570, or 226570.

President

No, this nickname does not have its origins in any model created for a president. It is the colloquial name for the Rolex Day Date and is also the name used by Rolex to denote that timepiece’s bracelet — a special bracelet made specifically (and only) for the Day Date, and available at retail only in precious metals.

Root Beer

A GMT-Master or GMT-Master-II with either a half-brown, half-gold bezel insert – which is found on two-tone timepieces with brown dials – or one with a fully brown insert and gold text. (More modern references with Cerachrom bezels in black and brown feature two-tone Rolesor cases or solid-gold Everose cases.)

Why ‘root beer?’ Picture the A&W root beer logo colours.

Smurf

The ‘Smurf’ is a white Submariner with a blue bezel insert and either a blue (reference 116619LB) or a black (reference 126619LB) dial, the latter being the newer model, and the one currently in the Rolex catalogue.

Starbucks

In late 2020, Rolex introduced a new Sub with a super case, a green Cerachrom bezel and a black dial, making for a timepiece sort of halfway between a Kermit and a Hulk, but one that’s visually closer to the Kermit. The difference is the new 41 mm case, thinner lugs, wider bracelet and the new calibre 3235 (or 3230 on the no-date version), offering higher energy efficiency.

The collector community has subsequently named this model the ‘Starbucks’ given its black and green colour combo, but maybe it would’ve been better to combine ‘Hulk’ and ‘Kermit’ into ‘Hermit?’

Steve McQueen

The earliest Explorer II, the reference 1655, has come to be known rather curiously as the Steve McQueen – despite there being no evidence that the iconic American actor ever wore one. (His Rolex of choice was a Submariner.)

Stella

This moniker belongs to vintage Day Date models from the 1970s featuring a type of exotic dial. These dials were manufactured by a Swiss company called Stella and were actually referred to by Rolex as “lacquered Stella” dials.

Made from coloured enamel, they’re instantly recognizable and were supposedly mostly sold in the Middle Eastern market.

Source: Robb Report

The post Rolex Timepieces have Nicknames. Here are Some You should Know first appeared on Aspire Luxury Magazine.

The post Rolex Timepieces have Nicknames. Here are Some You should Know appeared first on Aspire Luxury Magazine.

Whichever it is, we can hazard a guess and say that you have an emotional attachment to your timepiece and would want to have them with you for a long time, whether or not you go on to have others in the future.

Besides, with the kind of profits luxury timepieces are racking up on the secondary market, it does not matter if you are not attached to yours: you can sell them for double their original price and use the money to go on to get one you really like.

But this can only happen if you keep your timepiece in the same state as it was when you got it, or at least in a fairly good state.

So, how do care for your luxury timepieces to make them last forever?

Don’t wait until problems surface before you service them

Timepieces are like autos: you have to service them regularly to avoid a rapid decline in performance.

Timepiece servicing is a preventative measure against damage that may arise in future. It’s also worth noting that problems discovered earlier may also be easier and less costly to fix, than when the full damage sets in.

A complete overhaul, or full servicing, consists of complete disassembly of the timepiece movement, cleaning of even the tiniest parts and a thorough inspection of every single part in the movement. Any part that needs fixing will be repaired. Then, the parts will be lubricated and reassembled. The final steps include a timing calibration to ensure accuracy, the closing of the case and a water-resistance test.

Service often

Is it absolutely necessary to follow the time frame recommended by the brand that made your timepiece? It depends on a number of factors, which include the make and age of the piece, as well as the conditions under which it is being used and stored.

In general, experts recommend servicing to be done once every two-and-a-half to three years for mechanical watches, regardless of how often they are worn. For quartz timepieces, the battery should be replaced once a year, whether it is being used often or not. Besides the annual battery change, a complete overhaul should be done every five years.

Tackle problems as soon as they arise

Once your luxury timepiece stops working, of course, you should repair it. However, there are other issues that can arise that should make you immediately seek out a service centre even if the piece is still working.

Some common issues include intermittent stoppage of the movement and inaccurate time. If you notice that your timepiece has gone ahead of time, that is most likely caused by a magnetic field, and it needs to be fixed. Also, when you see any fogging or vapour inside, you should get it checked quickly as it’s not a good sign.

Exposure to magnetic forces can bring about a gain or loss of time in a timepiece, as they can magnetise running parts in the device and cause them to stick together, resulting in movement inaccuracy.

Many are unaware of how easy it is for their timepieces to come into close proximity with magnetic forces. They can come from many things used in our daily lives, such as a mobile phone, the clasp on a handbag, or even the electrical devices in our homes like speakers or the microwave.

Fogging underneath the crystal is a sign of condensation, indicating that moisture has gotten inside. This can be due to worn-out gaskets, or moisture seeping into the timepiece via the crown. Regardless of the reason, it’s best to get it checked out and fixed, as moisture within can cause corrosion in the movement over time.

When there’s rattling coming from inside the timepiece, it is likely due to parts that may have come loose. Do not shake it or wind the crown, as doing either may cause further damage – send it to the pros for a check, pronto.

Try to avoid damages to your timepiece

Damages are inevitable, but they can be avoided as much as possible. Preventing constant injuries to your device will not only save you huge repair costs, it will also help to keep your piece looking new for longer.

For one, don’t shake your mechanical timepiece to keep the time going. What you should do is simply wind up the mechanism via the crown to store energy inside it. It is a common misconception that the former should be done to a mechanical device.

Secondly, simply try not to be careless when handling your timepiece. If you drop your device, there’s a high chance that internal parts will be broken even if you don’t see any external damage.

Finally, do not keep your luxury timepieces in humid areas, such as in or near the bathroom. If you live in humid climates, you need to service your timepieces more often than others who live in less humid areas. This is why you shouldn’t exacerbate the situation by exposing it to an environment with even more moisture.

Source: CNA Lifestyle

The post How to Maintain Your Luxury Timepieces so They last Longer first appeared on Aspire Luxury Magazine.

The post How to Maintain Your Luxury Timepieces so They last Longer appeared first on Aspire Luxury Magazine.

The CHRONEXT 2021 Advent calendar itself comes in a near two-meter high wooden box coated with black piano lacquer. It has 24 illuminated doors, behind which are some of the world’s rarest and priciest luxury timepieces.

Remember the Black Panther Audemars Piguet timepiece that launched earlier this year and caused quite the storm in the industry? Limited to only 250 pieces at $162,000 per piece, it was almost certain that laying your hands on one would be quite the task. Well, you can now get it without any hassles as the CHRONEXT Advent Calendar will be containing one of this rare timepiece.

But that’s not all. Inside, you’ll also find a Rolex Cosmograph Daytona Leopard with a diamond setting and a rose gold A. Lange & Söhne Zeitwerk mechanical timepiece, both of which are singular examples of just a few in existence.

It does not come cheap, however. The luxury timepiece retailer has put the price at €2.3 million (nearly $3million) which is almost double the amount of its first calendar that debuted last year and cost €1.25 million. With all the timepieces it appers you would be getting, however, it does seem to be priced fairly.

For more information and to place an order, visit CHRONEXT’s website here.

The post The 2021 CHRONEXT Advent Calendar is a Treasure Trove of Rare Timepieces first appeared on Aspire Luxury Magazine.

The post The 2021 CHRONEXT Advent Calendar is a Treasure Trove of Rare Timepieces appeared first on Aspire Luxury Magazine.

Not anymore.

Countless studies and thought pieces have shown that Gen Zers and quite possibly, the entire current crop of consumers, do not appreciate waitlists and long wait times. Quite a number of luxury brands have gotten the memo, with some like Off-White, Dolce&Gabbana, and Oscar de la Renta partnering with Farfetch’s pre-order program to get goods to consumers faster and reduce waste.

It appears that Rolex did not get the memo.

As luxury brands began to face minor backlash for long wait times, Rolex timepieces began to disappear from the market, with popular models like the Submariner and the Daytona becoming almost impossible to find. Concurrently, on the resale market, prices of these models began to jump up, in some cases tripling the advertised retail price on the Rolex website.

In spite of questions to Rolex, the Swiss watchmaker kept mute.

Their silence did not come as a surprise. The brand is owned by the Hans Wilsdorf Foundation, which is recognized by the Swiss government as a charitable trust, aka a privately-owned business with no shareholders to answer to. As such, once they were able to establish a model that worked for everybody, it did not make any sense for them to change it let alone field questions from the media.

That is, until an article from Yahoo Finance highlighted the problem and implied that Rolex’s hands were tied with regards to providing a solution.

Rolex responded to the story with the statement below, explaining to Hodinkee that there were no prior statements because no one asked them:

“The scarcity of our products is not a strategy on our part. Our current production cannot meet the existing demand in an exhaustive way, at least not without reducing the quality of our watches – something we refuse to do as the quality of our products must never be compromised. This level of excellence requires time, and as we have always done, we will continue to take the necessary time to ensure that all our watches not only comply with our standards of excellence, but also meet the expectations of our customers in terms of quality, reliability and robustness. Rolex does not compromise on what it takes to produce exceptional watches.

All Rolex watches are developed and produced in-house at our four sites in Switzerland. They are assembled by hand, with extreme care, to meet the brand’s unique and high-quality standards of quality, performance and aesthetics. Understandably, this naturally restricts our production capacities – which we continue to increase as much as possible and always according to our quality criteria.

Finally, it should be noted that Rolex watches are available exclusively from official retailers, who independently manage the allocation of watches to customers.”

It is not immediately clear how true their claim of no one contacting them is. SCMP, in their article about the same challenge one month before the Yahoo Finance article, had claimed that their request for a comment was not answered. Prior attempts may have been routed wrongly, or not worded properly.

Whatever the case is, we now know why exactly we cannot easily get a Rolex at official rates, and apparently, the brand is not to blame.

It remains to be seen how well shifting the buck will work for the Swiss timepiece brand. Discontent over the scarcity of Rolex has grown so high that some media platforms have started a mini-boycott of the business. Not taking responsibility for what is clearly a major problem might backfire and reduce its value.

But then again, their response shows that Rolex is starting to pay attention. And even though they are still not doing much talking, it is possible that in future, we will see them take firmer control of the retail end of things.

The post Rolex Timepieces are Scarce. Rolex Says They are Not To Blame first appeared on Aspire Luxury Magazine.

The post Rolex Timepieces are Scarce. Rolex Says They are Not To Blame appeared first on Aspire Luxury Magazine.

In the past, luxury timepieces were mostly associated with men – think of famous ads or movies where a particular model of Rolex was made popular, and the image that would most likely pop up is that of a man. These days, however, more and more women are investing in this accessory, sometimes choosing vintage models for men.

As most owners have come to realise, once you start, you can’t stop. Collecting luxury timepieces is an exciting hobby, especially when you think of the numerous opportunities tied to them. If you’re looking to get into this rather profitable venture, you may find these tips from GQ very helpful

Find your passion

AKA “why should I buy this particular timepiece?”

While there are no wrong answers to this question (and the others that will follow naturally), experts suggest trying to set some constraints for yourself. One way to do this is to choose a theme, like diving, or an era, like the 70s.

Focusing your collection around a general theme makes it easier to collect across brands while still gathering deep knowledge. It will also help to give your collection a bit of structure and help you build your passion.

Or not. If you’re not interested in themes or times, just go with whatever catches your eye.

Choose an icon

This is almost like centering your collection around a theme, but not quite.

Choosing to start your collection with an ageless luxury timepiece that has a bit of history will lay a solid foundation for other pieces you’ll be adding in future. Watches like the Rolex Submariner, the Audemars Piguet Royal Oak, the Cartier Tank, the Patek Philippe Calatrava and, the Omega Speedmaster are good places to begin. They’ve been around for many decades and are in no danger of going out of style anytime soon.

Which is a good thing because while you are guaranteed of stepping out in a piece will not make you look like you just arrived from the middle ages, you are also confident that if the need to let go of your watch ever arises, you can easily trade it for another, and at a possibly higher price than you got it.

One more tip if you’re a green collector: consider starting with modern watches. While vintage is the current buzzword among many timepiece enthusiasts, starting there is incredibly complicated. Apart from the possibility of ending up with high-quality fakes, you run the risk of finding ‘Frankenwatches,’ “which are 95% real but have aftermarket hands.”

Meaning: a vintage watch can be mostly legit, but at some point over its lifespan, someone knowing or unknowingly replaced a piece with one that would have never gone on the original watch. Imagine spending all this time to find the perfect watch only to have someone point out the watch you love is actually a haphazardly stitched-together monster.

Trade in (and up)

Just because mechanical watches are durable enough to last a lifetime on your wrist doesn’t mean you have to keep it there that long. Luxury timepieces retain their value so well that it’s possible to think of yourself as just a custodian for a piece during its own long life. This takes a lot of pressure off your first purchase – there’s no need to think of it as a massive commitment.

When swapping pieces, try going higher up the difficulty meter. Many of those starter pieces only tell the time – so you may want to own something with a bit more complications, like a Patek Philippe with a perpetual calendar or a Rolex GMT-Master with multiple hour hands. Or, consider a different material. If you are getting tired of wearing stainless steel, maybe see how you feel while rocking gold.

If you do plan on eventually trading in a watch, make sure you’re taking good care of it while it’s in your possession. Experts suggest servicing them properly every three to five years. Also, keep the box and papers if [those] came with the watch as they would help with resell. Similarly, if you took a link out when you were adjusting the watch, put it in a safe place because you might be selling it to somebody with a larger wrist.

Lastly, engravings are fine. Just keep it light as the future owners might not be interested in your poetic quotes.

Go deeper, not wider

This, again, is in line with tip no 1. As a fresh collector, you may want to have a cohesive collection that is more significant than a combination of brands. Finding an area of interest to pursue is vital to forming a coherent watch collection as this will inform the type of pieces you chase.

Once you’ve fallen in love with a certain genre, the timepieces on your wishlist will grow exponentially. If you love divers, you may find yourself longing for Zodiac’s unique and brightly coloured Sea Wolf or entranced by Panerai’s partnership with the Royal Italian Navy. Maybe you are treating Submariners like Pokemon – trying to catch ‘em all – and there is nothing more important to you than seeing the watch’s name written out in red text. Someone who started with a Breitling Navitimer might want to pursue other pilot pieces from brands like Bremont or IWC.

Then get weird

Eventually, even the most advanced collectors may run dry, or just start turning over rocks in hopes of reinvigorating their initial passion. The good news is that while names like Patek, Rolex, and Omega dominate much of the conversation around watches, there are plenty of independent makers out there that will satisfy your itch.

Going independent will also lead to zany creations, like Maximilian Büsser & Friends’ spaceship-looking timepiece. Less-renowned brands like Universal Geneve and Longines have interesting histories of their own. And even while venturing into the obscure, it’s possible to keep chasing your passion: this timepiece from Ressence that utilizes a case filled with oil to create its dial is technically the brand’s take on a diving watch.

In the end, make sure that the timepieces you chose to add to your collection are an authentic reflection of who you are and what you believe in, even if it means stepping out of these tips from time to time.

The post Looking to Start Your Luxury Timepieces Collection? Follow These Steps first appeared on Aspire Luxury Magazine.

The post Looking to Start Your Luxury Timepieces Collection? Follow These Steps appeared first on Aspire Luxury Magazine.