Continuing last week’s discussion, this week – we’ll explore how a master investor invests in his personal watch collection…
A Mogul’s Strategy for Collecting Watches
It probably won’t surprise you to learn that Kevin O’Leary approaches his watch collection using the same meticulous and calculated measures that he applies to all of his endeavors. How does a mogul build the perfect personal watch collection? First, Kevin buys all of his watches himself. This is not a task that he farms out to an assistant. In fact, he enjoys walking into boutiques and watch stores to source exquisite timepieces using his own taste and expertise. He also has several principles that he shops by when expanding his gilded collection.
Embrace Brand Loyalty
Kevin O’Leary has major brand loyalty when it comes to luxury watches. In fact, he takes the approach of going “all in” when he becomes enamored with a watch brand. His personal rule is to always purchase at least two watches from a single manufacturer at a time. It’s not uncommon for him to snag four watches from the same manufacturer during a single purchase when he’s really focused on a brand.
One of the reasons why O’Leary operates this way is that he doesn’t just see himself as a watch consumer. He actually focuses on establishing himself as a dedicated partner of whichever brand he is interested in exploring at the moment. He also feels that making major purchases helps to establish his reputation as a serious collector.
A strategy like this enables O’Leary to build a relationship with a brand that may be extremely exclusive. His “investment” in several timepieces is really an investment in getting to the top of the waiting list the next time there is an exclusive or limited release. The bottom line is that Kevin O’Leary’s strategy for becoming a serious watch collector is to build a relationship with an authorized dealer specializing in the brand or brands that you like. It’s not necessary to be a world-renowned mogul or television personality like Kevin O’Leary to build a relationship with a supplier. In fact, collectors at all levels often build relationships with Lido Watch Club that allow them to get exclusive access to very in-demand timepieces.
Define Your Own Path
Kevin O’Leary refuses to be boxed in when it comes to his taste in timepieces. The collector doesn’t follow any rules when it comes to collecting within a genre. He instead advocates for simply following your own taste. That’s why his collection includes watches spanning a variety of brands, styles and vintages.
The temptation to “go cheap” when collecting watches is always there. However, O’Leary’s take is that you’re just wasting time and money when you try to scrape the bottom of the barrel. His advice is to buy quality watches that bring value to your collection. He advocates saving up for a really good piece instead of buying an inferior piece. He also thinks that buyers need to understand what the piece they’re buying represents to both themselves and the watch community.
Be a Student of Watches
Ultimately, every watch collector is a student of the industry. Kevin O’Leary takes great pride in understanding the historical importance of every watch he brings into his collection. This helps the collector to understand the placement and significance of each piece within a collection. It’s also important for having clarity about when to “jump” at a piece that becomes available. For O’Leary, he understands that some pieces may only be available for a very limited window during his lifetime. However, he will own that piece forever once he decides that it’s a piece to jump on. O’Leary is obviously a man who does his homework whenever he is jumping into a new venture. That’s why it makes perfect sense that he treats the passion that has been a part of his life since childhood as his most personal and important investment of all!
Let Lido Watch Club Help You Love Watches Like a Mogul
At Lido Watch Club, we help watch collectors of any scale build incredible collections that can bring enjoyment and value for years to come. We invite you to browse the Lido Watch Club to find pieces that excite and expire. You’ll find what you’re looking for whether your goal is to wear your success on your wrist or carry around a piece of timepiece history. It is time to make an investment in developing impeccable taste? There has never been a better time to begin building a refined, curated watch collection that just may turn into your best investment!