Geneva watch days happened, and a lot of new watches have been released. Me being more interested in vintage pieces, I don’t pay too much attention to the releases or their prices. But after seeing some of the new pieces’ retail prices, my jaw dropped. And it is really beginning to feel like believing some (not all) modern watch retail prices do not match what they are actually worth as well as their supply and demand. Yes inflation exists, but the speed of increase in retail prices is unmatched; to a point the price point no longer reflects the actual worth of the watch.
The new Berneron Quantième Annuel (Annual Calendar)
When looking at independent brands, there are a few brands I just cannot grasp my head around; Laurent Ferrier, and Berneron. Look, I own a Laurent Ferrier, so I am saying it as an actual collector. I am not entirely sure if their classic micro rotor is worth 70K CHF. 70K CHF for a time only watch! I can understand (or at least try to understand) their traveller or classic moon model being at 90K CHF although I still think it's a little bit too high, but for a micro rotor movement. I can’t. Next up, the great Berneron. Again, nothing bad to say about the watch; both Mirage and the new annual calendar. I actually really like the Mirage. However, 120K CHF for an annual calendar, that’s when I start shaking my head. No disrespect to them, but I am not sure where this number is coming from, also when compared to the great grandfather of all watch brands; Patek Philippe, offering their annual calendars (5205) at 50K CHF range. Look, if they sell, I am happy for them, and I am so sure it is already all sold and I take my hats off for them. But for me, that number just does not justify the worth of the watch regardless of the sale.
Speaking of Patek, they cannot be avoided in this topic as well. Same as Lange. The retail price on certain pieces from both brands do not justify the price tag they are selling at, hence the reason why the pre-owned prices are much lower than the actual retail prices. Don’t get me wrong, some pieces are actually amazing pieces, like the 1815 chronograph (one of the most beautiful modern chronograph movements) or Patek’s inline perpetual calendar ref.5236, but is that watch really worth the current retail price? I am not so sure. Will brands be able to sell even at that price? Yes, I am quite sure. But that does not mean the value for money is there; absolutely not.
Patek's inline Perpetual Calendar Ref.5236P
To argue against my point, it is fair to say price is whatever the customer is willing to pay for it. If it sells, it means the demand is there. Yes, that is absolutely correct. When talking about an actual worth; it becomes a different conversation.
It is all down to perspectives. Me putting on a value perspective hat on, modern retail prices are just a little too absurd. But if somebody is putting on a “I want this piece from retail regardless of the price” hat on, whatever I wrote is just gibberish. Different ways of seeing this, and I respect all perspectives, since that is the true beauty of watch collecting at the end of the day.
