Purchases under pressure

Yesterday, over lunch with the infamous @nycwatchguy and @f1ptb… … we discussed the concept of purchases under pressure. In the current environment this issue is far more pronounced, due to the rise of limited editions, the increased popularity of independent watchmaking (who have lower supply inherently) and because of general hype with any popular watches – often fuelled by the influx of profiteers into the watch game, who tend to pose as genuine enthusiasts or collectors. This also raised the question of what defines a “genuine” enthusiast anyway; and when is it ok to sell a watch without being labelled a flipper? Thoroughly enjoyed the conversation, and thought I would share a bit here.

What about vintage watches?

Earlier this week I posted about the evolution of watch collecting, and talked about what might happen next in the watch collecting hobby, as collecting evolves, and collectors experience decision fatigue. Quite a few people followed up with me asking about vintage watches, and even suggesting that vintage watches might be the next big thing – so I thought I’d share some thoughts on the topic and see what others think.

How to raise successful people – book summary

Author, mum and teacher Esther Wojcicki says “There’s a real lack of understanding of what parenting is about”. Parents might be fearful that their child will fail, or anxious that they’ll make irreparable mistakes, and this fear and insecurity come from a place of love – but the result is a generation of anxiety-plagued, helpless young people. This book is about the “Woj Way” that stresses trust, respect, independence, collaboration and kindness (TRICK) – and how this approach will help you raise children who become self-reliant, capable and confident adults.

Behavioural Economics and watch collecting

Richard Thaler, Daniel Kahneman and Amos Tversky are the pioneers of the field called “behavioural economics”, two of them even won Nobel prizes for their work and the third would have too, if he was alive to receive it. The trio uncovered numerous ways in which people make poor decisions without knowing it. Here’s a short podcast where Thaler tells a number of stories that bring behavioural economics to life. I wanted to talk about some of their findings (again) and apply it to watch collecting in some way.

The freedom to have enough

I recently shared a video from “Daily_stoic” talking about the concept of “enough” – this post is building on this idea, since the video resonated with many folks.

Impostor syndrome in watch collecting

The term ‘imposter syndrome’ was first coined in 1978 by two US psychologists who called it the ‘imposter phenomenon’. They defined it as feeling like a fraud despite obvious successes and high achievements. Although this concept is mostly applied to workplaces and working professionals in various fields, it absolutely does apply in watch collecting, and I believe it signals a loss of one’s perspective – which just needs some recalibration.

The “Front Page Test” for watch collectors

The “Front Page Test” is an easy ethics standard which requires asking yourself: “How would I feel if the course of action I am considering were reported on the front page of the local newspaper or in a popular blog?”. The idea is, if you feel this would be uncomfortable or create problems for you, then the best course of action is to change the intended course of action. Simple as that.

Yak shaving and watch collecting

Have you ever heard of the term “Yak shaving”? The term was supposedly coined by Carlin Vieri from MIT, but others attribute its popularity to a Ren and Stimpy episode. Either way, I found it had some applicability to watch collecting, so I decided to share some thoughts on this; while slightly obscure and not wholly enlightening… hopefully still educational!

The Expectation Effect

The Expectation Effect: there is a wide range of phenomena in everyday perception … where we see things in terms of the properties of objects as they are conceived, and fail to ‘notice’ those features that deviate from this conception.