My recent post about the effect of marketing contained a hypothesis about serious watch collectors: they will buy the recently released Furlan Marri (FM) watches but won’t wear them much. This post is about the brand, and why it represents a masterclass in product launches and marketing.
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.
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.
I just had a conversation with my buddy Ben (@koreahasseoul1) and I felt like the topic was worthy of a post. Incidentally he’s a pretty interesting collector, and I would urge you to chat to him too if you feel like you want some advice about your collection, or just to talk watches. I always appreciate his perspectives, and I am sure you will too. Ben and I spoke about how collecting has evolved, especially in the last two to three years.
To summarise the concept; some people see the details in everything they do, like the fox, while others are great at having a singular vision, like the hedgehog. Going back to a critical distiction in the definition of the concept, Jim Collins says it perfectly: The Hedgehog Concept is not a goal to be the best, a strategy to be to be the best, an intention to be the best, a plan to be the best. It is an understanding of what you can be the best at. The distinction is absolutely crucial.
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.
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.
I happened to see a book recommendation from a friend on Instagram last week, and decided to give it a whirl – I found it to be a very enjoyable read, particularly for the stories shared in this book. Morgan Housel makes the point that financial know-how is actually less of a hard science than you might think. Unlike in other fields, in finance an unknown petrol station attendant with a high school education might make millions, while a celebrated, Harvard-educated finance executive goes bankrupt. It all boils down to behaviour. Housel explores why psychology has more to do with positive financial outcomes than our math skills.
It is likely that you have, at some time in your life, really wanted something… but upon finally getting it, felt rather disappointed. Pehaps you thought a career change was the solution to all your problems, but realised it wasn’t, once you had done it. Or perhaps you thought you’d like living in another country, but ended up regretting the move. Why does this happen? Why do we find a divergence between what we think something will be like, and the ultimate reality when we finally experience it?
Ever since the meteoric rise of Clubhouse talks about watches or watch related topics, I can’t count the number of times I have been in a room which ended up discussing the grey market for watches, and how difficult it might be to buy a Rolex at retail price. It was pretty boring to hear…