It's Time to Embrace the Sub-$1000 Watch
They're more affordable, very versatile and built to last.
I've been on my soapbox about the current state of the watch market lately. I'll talk the ear off of just about anyone who has the patience to listen to my nonsense. I know the economy isn't doing great, so maybe I'm just feeling the heat, but I think it's time we begin looking at alternatives to Rolex, Omega, and our other favorite luxury watch brands. Not to say that we haven't been doing that already. Even if you had the money for a Rolex and you walked into an Authorized Dealer with a duffle bag full of cash to buy one at MSRP, you couldn't do it. We live in an era where in order to buy a Rolex at retail price, you'd have to develop a longstanding relationship with an Authorized Dealer by purchasing other watches and jewelry in hopes of being rewarded for your royalty with a chance to buy your coveted Rolex timepiece. Well, I'm not standing for it. Rolexes are already overpriced as it is. An Oyster Perpetual that has no day, date, dive bezel, or GMT function is currently sitting on the Rolex website for $6,100. In contrast, an Omega Seamaster Professional with a ceramic bezel, textured dial, and date window will send you back $5,000. Rolex knows that they have history and brand identity on their side, leading them to price gouge. Again, this is me on my soapbox saying that I will not stand for it!! I love a vintage Rolex, but modern Rolex is overpriced and morally devoid.
Watches have had an interesting last few years. Many wealthy men began buying up all of the most in-demand watches, making it impossible to find them in stores. The most impacted brands were Rolex, Audemars Piguet, and Patek Philippe. Resell prices soared to exponential highs on the secondary market. The crypto/NFT bubble of 2020 and 2021 made a lot of money for scores of people (while also devastating several others), and it drove people towards expensive watches so they could flex on their friends and family. They wanted to show off their newfound wealth on Instagram, a lame move if I’ve ever seen one. Buyers wanted to grow their capital even more by purchasing a timepiece as an investment and selling it off at a gain. This may have worked for a while, but the well has run dry. At the time that I am writing this, prices have been steadily decreasing on all of the major high-end brands. There may be a light at the end of the tunnel for people hoping to get their favorite watches at retail.
On the other hand, I don’t appreciate the mainstream’s mass hysteria over luxury brand watches. Whenever people think of watches they think of Rolex. If you look at several different fashion campaigns, the models are styled with either a vintage Cartier Tank or a Rolex Submariner. Rarely do you see them styled with the likes of a Timex or even a Seiko. I think this kind of preoccupation is unproductive for a consumer base. There is already enough keeping up with the Joneses when it comes to just about everything that I can think of. Cars, clothes, homes. Even the phones we use every day. Must you really upgrade to an iPhone 14 after having just purchased a 13 last year? Who cares that your buddy who works at a big tech company has a 14; your 13 works fine. Watches are so expensive that this kind of mentality can be enough to bankrupt you literally and figuratively.
I’ll just come out and say it: most people cannot afford a Rolex. There is no shame in that whatsoever. Even people who can afford them cannot retain one. The current state of affairs in the watch world is messy. There is nothing wrong with wanting a luxury watch. Rolexes are still good watches, but they’re played out. There are other brands out there. Tudor, Omega, Zenith, and Breitling all come to mind. I think that the brands that have been making the most noise lately have been the more affordable brands.
Look, it has never been a better time to be interested in watches. We're in a sort of a renaissance within the watch industry where you can find a top-of-the-line quality timepiece at any price point. Storied brands like Seiko and Tissot, with rich histories going back to the 1800s, offer beautiful watches for less than $1,000, even $500. By now, you've probably heard of a Seiko 5, Seiko's entry-level line of mechanical watches. They offer enough water resistance for daily activities and a day-date function. If you wanted a day-date complication on a Rolex, you're looking at shelling out at least $15,000. My two-tone Seiko 5 on a steel bracelet cost $250 and I wear it multiple times per week.
Tissot has the PRX and Gentleman (pictured above) watches that have an 80-hour power reserve. They come in a variety of colors and can be knocked around without fear of damage. Hamilton's Khaki Field Mechanical is a favorite among enthusiasts as the best Swiss mechanical watch under $500. These brands all offer terrific value for money with aesthetics that rival any luxury watch brand.
There's another phenomenon sweeping the watch world: microbrands. Building a watch brand is easier than it used to be. Not to say that it’s easy work, but the barrier for entry has lowered in the last decade or so. There are companies that specialize in making third-party watch movements, which they in turn sell to watch brands. Brands like Sellita, Eta, and Miyota have perfected the art of an affordable watch movement. When a brand outsources its movements, it brings the overall cost of production down. There's heavy debate about this within the community about whether or not an in-house movement makes a watch more valuable in the long run. Personally, I would never look at a watch as an investment, as most brands are shown not to hold their value. It's purely speculative with no accurate methodology to it. Plus watches are meant to be worn and enjoyed.
Microbrands are the young, hot kid on the street that everyone wants to talk about. Take the French brand, Baltic, with its refined, vintage-inspired pieces. This Aquascaphe dive watch costs $720 and rivals a Tudor Black Bay 58 in its looks. Lorrier is an American brand founded in 2017 by a husband and wife. Their inspiration comes from vintage pilots and field watches. Their Falcon III is a field watch the likes of a Rolex Explorer with a $500 pricetag and a Miyota movement. It comes with a beautiful waffle dial, punching way above its weight class. I'm only scratching the surface here, people! There are dozens, if not hundreds of microbrands popping up all the time.
Buying a relatively affordable watch is the best horology move in the year of our lord 2023. You want a high-quality, reliable piece that you can wear day in and day out without the worry of banging it around. Sub-$1000 is the perfect price range and, luckily, you have more options than ever before. While Rolex loses its steam (please you don't want to be associated with the kinds of guys buying Rolexes these days), the mid-tier types are starting to take the reigns. I own a couple of luxury watches, but I'm too paranoid to wear them out in public. I don't feel that kind of burden when I have my Tissot Gentleman on. That's the beauty of affordable watches. You don't need to feel the need to baby them. They're true go-anywhere, do-anything watches.
Peace and Love