I’m 37, and I’ve been into watches since I was 10 years old, when I saw a Tag Heuer Formula 1 that my cousin got as a gift.
I’ve been a more ‘serious’ collector for probably 12 years or so now. I’d say that in terms of variety of people who spend money on luxury watches, it’s similar to people who buy cars. You’ll get people who are rich and just want a Ferrari but aren’t really into cars in general, don’t really know much about cars etc, they just want to show wealth. These are the kind of people that buy an AP and ice it out, or just want something big and flashy.
You’ll get some people who have some money, and they want to treat themselves to a nice Porsche or Audi or whatever. They have an appreciation for cars, but they’re not collectors or enthusiasts, they just want to be able to reward themselves and have an inconic thing. These are the type that buy a speed master or submariner, and keep it forever.
Some people have the money to buy very fancy cars, but they also love the history of cars, the mechanics, they might have an old Jaguar, an Audi, and also love VW Beetles. They go to collectors events, they welcome everyone etc…and that’s the same with watch collectors. I know guys with $100k Pateks, who rock G-Shocks and Swatch. I’ve spent tens of thousands over the years, and have owned some extremely nice watches that 99.9% of people wouldn’t recognize, and I was wearing my Seiko today. I’ve literally never had anyone comment on my most prized watch, which cost close to $30k, but I’ve had so many people say ‘ooh, is that a Rolex?’ when I wear a vintage Sub. Basically, watches are oftten used as a dick swinging contest, but there is a pretty large numbers of ‘purists’ who are into watches regardless of how much money they had to spend. I was into them when I could afford $300 on a watch, and I’m into th today.
in response to what others have said…do not buy any watch as an investment unless you know what you’re doing. Steel sports Rolex have gone through the roof in recent years due to Rolex restricting production, but the idea that ‘luxury watches always appreciate’ is laughably misguided. Some do, some don’t. I’ve lost count of the number of people who show me their Panerai or Omega that they bought 5 years ago, and ask me what it’s worth. Buy a watch because you want it, not as an investment.