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Speaker 1: This is Master's in Business with Barry rid Hoolds on

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Speaker 1: Bloomberg Radio.

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Speaker 2: This week on the podcast, I have a pair of

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Speaker 2: extra special guests. Ben Klember took an buyout offer from

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Speaker 2: UBS in two thousand and eight, right in the middle

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Speaker 2: of the financial crisis, and said, I know what I'm

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Speaker 2: gonna do. I'm gonna launch a site about watches, which

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Speaker 2: has been my hobby and see where this goes. And

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Speaker 2: that was fifteen years ago and it's turned into one

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Speaker 2: hundred million dollar business with incredible investors and just a

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Speaker 2: huge brand on the Internet. Jeff Fowler has been CEO

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Speaker 2: of the company for just about two years. This really

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Speaker 2: is a fascinating discussion. First, if you're interested in watches,

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Speaker 2: it's amazing to talk to guys who have known so

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Speaker 2: much and are so plugged into what's going on in

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Speaker 2: the industry and really are right in the middle of

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Speaker 2: what's become a speculative boom in time pieces. But also

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Speaker 2: this is a story of starting a small media outlet,

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Speaker 2: a small web presence, and recognizing that there's business potential

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Speaker 2: here and how to slowly grow that into something that's substantial.

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Speaker 2: How do you hire people, how do you go out

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Speaker 2: and find investors. When do you do that? When do

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Speaker 2: you take this to the next level? When do you

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Speaker 2: as founders and CEO say hey, I need somebody who

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Speaker 2: can scale this and I'm going to step back and

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Speaker 2: become chairperson and bring in a professional CEO to run

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Speaker 2: the site. So there are a lot of different ways

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Speaker 2: to look at this. I found the conversation to be

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Speaker 2: absolutely fascinating. I could have gone for another two hours

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Speaker 2: with no further ado my conversation with Hodinky's Ben Klember

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Speaker 2: and Jeff Fowler's let's talk a little bit about how

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Speaker 2: a blog becomes a business. I know a little bit

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Speaker 2: about that. Twosand and eight you launched a blog after

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Speaker 2: you leave UBS in the midst of the financial crisis.

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Speaker 1: Yeah, first, what were you doing at UBS? So I

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Speaker 1: was basically the lowest of the low man on totem poles.

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Speaker 1: I was twenty four. I was working at UBS in

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Speaker 1: wealth management. And it's funny, actually, before I even get

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Speaker 1: into that, coming to Bloomberg is actually my favorite place

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Speaker 1: to go because it is the only location that I

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Speaker 1: visited pre hoad Inky and post hod Inky. Oh really so, actually,

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Speaker 1: when I used to visit here, your systems used to

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Speaker 1: pull up the original photograph ever taken of me as

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Speaker 1: a guest, and it was me at twenty four years old,

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Speaker 1: no beard, dressed head to toe and Joseph A. Banks. Legitimately,

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Speaker 1: I'm not dressing that anymore, thankfully, and it was just

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Speaker 1: an amazing flashback. Anytime I come here, I've been here

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Speaker 1: a few times for other shows, and so this is

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Speaker 1: one of the few places really in the world that

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Speaker 1: kind of unites my pre hoad inky and present day world.

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Speaker 2: That's really interesting. So post Ubs, yes, you're doing this

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Speaker 2: just as a hobby, started as an interest.

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Speaker 1: Started for fun. So I was a kid. I was

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Speaker 1: in wealth management at Ubs, and this was two thousand

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Speaker 1: and eight when Leven collapsed and the world effectively imploded,

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Speaker 1: certainly for people of my age who had no authority

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Speaker 1: at all. I mean, we had no cloud whatsoever in

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Speaker 1: a giant company like at Ubs. And they said basically like, look,

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Speaker 1: you're probably going to get laid off. Will you take

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Speaker 1: a severance package and get out of here? And I said,

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Speaker 1: oh no, what hell? Yeah, absolutely, And keep in mind

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Speaker 1: I had nothing. Both my parents are public school teachers.

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Speaker 1: I mean, I didn't come from a world of luxury

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Speaker 1: or finance or anything like this at all from Rochester,

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Speaker 1: which is not anywhere near Westchester, you know, a really

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Speaker 1: dramatically different world. And I said, you know what, like finance,

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Speaker 1: this version of finance is just not for me at all.

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Speaker 1: I always fancied myself a writer. My grandfather, who was

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Speaker 1: kind of a mentor not kind of. He was a

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Speaker 1: mentor to me. He was still alive at the time,

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Speaker 1: and he was an entrepreneur. He gave me his Omega Speedmaster,

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Speaker 1: which is a really nice watch, when I was sixteen

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Speaker 1: years old. Is my only nice watch.

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Speaker 2: So wait, you're I'm trying to do the math if

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Speaker 2: you were twenty four and eight. So you got this

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Speaker 2: watch in two thoy ninety nine.

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Speaker 1: Yeah, around there, I would say.

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Speaker 2: And he purchased it twenty thirty years before he.

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Speaker 1: Actually purchased it. He purchased it in the early nineties.

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Speaker 1: It was a later speed Master. He bought it when

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Speaker 1: he was in his probably sixties or seventies, so it

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Speaker 1: wasn't like something he had throughout his entire lif but

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Speaker 1: still it's what I remembered him wearing. And one day

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Speaker 1: he just literally slid off his wrist and said, I

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Speaker 1: want you to have this, which is unbelievable to me, obviously,

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Speaker 1: and that was his daily drug, that was his daily driver.

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Speaker 1: That and a gold Rolex Day eight as well, which

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Speaker 1: now my father has. And it was just something so

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Speaker 1: impactful to me. And he was really my hero. I mean,

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Speaker 1: he represented something that that I didn't really see much

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Speaker 1: of in Rochester, New York, which was a self made

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Speaker 1: you know, truly self made to a material degree. Was

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Speaker 1: interested in the world, interested in how things are made,

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Speaker 1: nice cars, nice watches, et cetera. And had very little

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Speaker 1: to do with the cost of things, but really appreciated

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Speaker 1: how things were made. And it was always critical that

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Speaker 1: he made me understand why in Omega would be two

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Speaker 1: thousand dollars instead of two hundred, or Mercedes would be

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Speaker 1: sixty thousand dollars instead of six thousand.

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Speaker 2: But really quite interesting. So so you have this cash

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Speaker 2: out from UBS.

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Speaker 1: If you can call it that. I think it was

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Speaker 1: a grand total of around nine thousand dollars, all right

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Speaker 1: for me, Hey call it.

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Speaker 2: One thousand and eight. That was not nothing.

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Speaker 1: Yeah, And look, and I was twenty four, I was

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Speaker 1: living with my girlfriend at the time, and so just

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Speaker 1: kind of goofing around. So I'm like to be able

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Speaker 1: to pay my you know, I think my share of

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Speaker 1: the rent each month was around nine hundred dollars, so

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Speaker 1: like that paid.

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Speaker 2: Hey, but your years were almost the year's worth and.

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Speaker 1: Rent exactly right, so allowed me to take my time

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Speaker 1: and write with that. With that time, I ended up

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Speaker 1: freelancing for the likes of GQ for the Financial Times

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Speaker 1: How to Spend It, you know, great really great publications,

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Speaker 1: mostly about watches, but other men's lifestyle things, cars, you know, whatever, restaurants.

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Speaker 1: Ended up applying to journalism school here in the city

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Speaker 1: at Columbia for a master's degree. I went to undergrad

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Speaker 1: for finance and computer science, so dramatically different field, and

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Speaker 1: I said, look, I'm going to be in media, and

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Speaker 1: I wanted to be a true journalist, like a real

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Speaker 1: Bloomberg style journalist. I wanted to do it the right way.

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Speaker 1: So I applied to Columbia, somehow got in using my

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Speaker 1: blog about watches as the foundation of my application, and

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Speaker 1: ended two years of a master's degreeyet at Columbia, while

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Speaker 1: I continued to blog every day about watches.

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Speaker 2: And the site was called to Dinky it was.

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Speaker 1: It was called Houdinky from the start Hodinky with a

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Speaker 1: y and it means wristwatch in check of all things.

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Speaker 1: Everyone asked, I'm actually not check, but I was just

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Speaker 1: kind of goofing around and googling Google translating what wristwatch

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Speaker 1: was in different languages, and and you might remember. But

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Speaker 1: like so in two thousand and eight, Google was the

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Speaker 1: hottest thing on earth, and Google was like, really kind

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Speaker 1: of it's on its ascent, and the double vowel kind

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Speaker 1: of like stuck with me. And another site that launched

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Speaker 1: around the same time had a double vowel, and it's

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Speaker 1: called Goop, Gwyneth Paltrow's lifestyle site. So the double vowel,

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Speaker 1: for some reason, really was popular with Internet domains.

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Speaker 2: You can't get you can't get a domain, right, I

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Speaker 2: literally wrote down what was the inspiration for using the

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Speaker 2: check word for watch? But I know if you go

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Speaker 2: to register a company or haven't forbid register a dot com,

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Speaker 2: every word, every two letter, three letter four letter combination

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Speaker 2: has been taken, every common word in the dictionary. Somebody's

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Speaker 2: squatting on. So yet really have to get creative.

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Speaker 1: Yeah, so we we. I'm still used to saying we

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Speaker 1: as if it was more than me. It was just me.

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Speaker 1: But I always used to use the royal weed to

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Speaker 1: pretend like we were biggert we are now actually having

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Speaker 1: the people here, which they were a huge company you

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Speaker 1: wouldn't understand. So but back then, even more than that,

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Speaker 1: I was already a of the tenuous relationship tenus it

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Speaker 1: best relationship that watches and luxury had with the Internet.

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Speaker 1: And so the first people to sell watches on the

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Speaker 1: Internet or even list watches on the Internet were what

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Speaker 1: we call gray market dealers, guys that had no legal

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Speaker 1: right to sell watches.

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Speaker 2: So people that we well, I'm guessing eBay was pretty

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Speaker 2: big in the early Absolutely still is eBay is the

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Speaker 2: largest watch strow on Earth.

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Speaker 1: Oh is that true? Absolutely absolutely, much to the chagrin

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Speaker 1: of the Swiss, but it is the largest seller of

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Speaker 1: watches on Earth. And look, I mean it's just it's

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Speaker 1: just reality. But I mean, forget eBay. eBay is a

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Speaker 1: real publicly traded you know, has has business practices that

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Speaker 1: we all hold in the high regard. Well, you know,

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Speaker 1: there are other other sellers.

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Speaker 2: Out let's put a little asterisk on that one big circle.

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Speaker 1: That's a good one. But the there were a lot

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Speaker 1: of other purveyors of watches that really were not super

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Speaker 1: super ethical folks, little shady a little bit. And so

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Speaker 1: the Swiss and the and the Europeans at large were

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Speaker 1: really kind of reticent to to to get involved with

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Speaker 1: watches on the Internet at all, and that includes evening

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Speaker 1: even a covering them. So when I would go to

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Speaker 1: Switzerland and say, hey, Rolex Pa Tech, whoever Omega smaller brands,

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Speaker 1: can I photograph your watches from write about them? They say, oh,

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Speaker 1: you know, we don't really want coverage on the internet. Truly.

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Speaker 1: That's how it was like in the early forward tech exactly,

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Speaker 1: very forward thinking. There's a famous line that I've told

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Speaker 1: in a few other podcasts and a few other stories

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Speaker 1: where a very very prominent i mean one of the

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Speaker 1: most prominent CEOs of one of the largest Swiss luxury

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Speaker 1: groups in the world told me to my face in

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Speaker 1: twenty ten that he thought the internet was for poor people,

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Speaker 1: that nobody would ever make a buying decision based on

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Speaker 1: anything published on the Internet. And keep in mind, this

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Speaker 1: is what I was doing for a living back.

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Speaker 2: That's you know, if someone would have said that in

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Speaker 2: nineteen ninety nineteen ninety five, I would have said, all right,

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Speaker 2: their a little backwards looking, but by twenty ten.

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Speaker 1: Yes, Amazon is immense.

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Speaker 2: All these companies had migrated. Jeff, what were you doing

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Speaker 2: in twenty ten?

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Speaker 3: I was working on Louis Vuitton at the time, and

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Speaker 3: it was actually Jeff who said it to me.

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Speaker 1: Yeah, so, Lesbie, they have a pretty robust online presence.

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Speaker 3: Yeah, I mean at that time it was likely the

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Speaker 3: case that Louis Euton's dot com store, if you want

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Speaker 3: to call their online presence, was likely the biggest store

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Speaker 3: in any of their regions globally, certainly in the US.

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Speaker 3: Louisviton dot com for the US region was well on

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Speaker 3: its way to becoming the biggest site for any sales

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Speaker 3: for Louis Vuitton. So yeah, was well established at that point.

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Speaker 3: But Ben's right, I mean even across the broader luxury

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Speaker 3: categories of fashion shoes. I mean, luxury was late to

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Speaker 3: the game, saw it as more of a branding and

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Speaker 3: marketing activity, and the watch industry in particular was very,

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Speaker 3: very late to I think understand the true impact and potential.

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Speaker 2: Of And when did you first first become aware of

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Speaker 2: this little blog called hode.

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Speaker 3: Yeah. I was at LVMH for a number of years,

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Speaker 3: mostly with Louis Vuton for the first few years and

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Speaker 3: Louis Euton has a watch business and division, and then

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Speaker 3: within lvmhor I moved to Taghoyr, which is a pure

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Speaker 3: watch business within the broader luxury group. It was really

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Speaker 3: kind of in the Taghoyr timeline for me career wise

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Speaker 3: that it became aware of Ben and of Hoodinky, And

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Speaker 3: as he stated earlier, in my mind, Houdinky was this

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Speaker 3: huge operation. It was, you know, dozens of writers and

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Speaker 3: journalists simply because the influence that they already had at

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Speaker 3: that point, this is twenty twelve twenty thirteen, was enormous

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Speaker 3: in the industry. There would always be someone from Hoodinky

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Speaker 3: at a precedent or press junket.

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Speaker 1: You know.

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Speaker 3: The site was getting a huge amount of appeal and

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Speaker 3: building a community. So we were well aware of their impact.

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Speaker 3: But I hadn't met Ben yet. I was heading up

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Speaker 3: retail for Tag Hoyer for North America, so I was

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Speaker 3: sort of traveling around from market to market, store to store.

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Speaker 3: But yeah, I was very aware of Hudinky's impact.

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Speaker 2: So I'm going to jump to the end of the

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Speaker 2: story and then we'll backfill what took place between eight

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Speaker 2: and twenty twenty two. You join as CEO last year.

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Speaker 2: How did that transition take place and why were you

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Speaker 2: excited about stepping into the chairman's role.

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Speaker 1: So for me, Hoodinky has been my life's work truly.

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Speaker 1: I mean, I have a child now, but I kind

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Speaker 1: of think of it as my firstborn. And you know,

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Speaker 1: like any child, you know, things tend to grow up

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Speaker 1: and mature. And I think, you know, if there's one

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Speaker 1: thing i can say about myself, it's that I'm acutely

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Speaker 1: aware of my strengths and weaknesses. And as my strengths

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Speaker 1: are that I've got the vision, the idea. I think.

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Speaker 1: I think I'm a solid writer. I've got, you know,

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Speaker 1: the creative mind to to build something that other people

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Speaker 1: wouldn't see. If I may say, where I'm not super strong,

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Speaker 1: honestly is running a business at scale constitution is tough,

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Speaker 1: sure is to come to find out, you know. And

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Speaker 1: so you know, when we closed our Series B in

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Speaker 1: twenty twenty, which as you mentioned, include lvmh in in

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Speaker 1: a minority share, there's no there's no majority holder. Just

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Speaker 1: to be clear, TCG, Tom Brady, Tony Fidel, John Mayer.

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Speaker 1: I mean, like all these mean, that's a crazy list.

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Speaker 1: That's a crazy people don't know who Tony Fiddell is.

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Speaker 1: He is essentially the guy who created the iPod and

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Speaker 1: then said I need to do something out and then

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Speaker 1: goes out and creates nests. Yes exactly, I mean talk about.

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Speaker 2: A design you know, legacy, amazing.

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Speaker 1: He's he's a legend, and he's of all the people

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Speaker 1: in my in professional life that is mentor, he would

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Speaker 1: be the one. And actually it was he who decided,

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Speaker 1: or he who influenced me not to sell the business.

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Speaker 1: I had the opportunit need to sell the business in

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Speaker 1: twenty fourteen, and he said, do not sell this thing.

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Speaker 1: Let me help you raise money. So he actually invested

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Speaker 1: as early as to us.

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Speaker 2: And I know from having seen him on talking watches. Yeah, exactly,

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Speaker 2: he's been a watch geek forever because the you know,

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Speaker 2: it's funny, we briefly touched upon what your grandfather said,

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Speaker 2: but the elements of design and precision craftsmanship come together

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Speaker 2: and watch in a way very few things do. Perhaps

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Speaker 2: the iPod and nest are good example.

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Speaker 1: That's exactly that, and so so Tony Fidel. A guy

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Speaker 1: named Kevin Rose who sorted dig and is now in NFTs.

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Speaker 1: He was actually he stepped in and invested as well,

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Speaker 1: and was actually our CEO for a while. Tony Conrad,

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Speaker 1: who's big and trueventures he did Peloton and Blue Bottles

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Speaker 1: really great, you know Silicon Valley names that were all

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Speaker 1: friends and we all kind of connected. They all kind

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Speaker 1: of helped me shepherd in this new version of what

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Speaker 1: Hodingki could be, which was that of a retailer and

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Speaker 1: that of somebody who had this amazing influence. Editorially speaking,

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Speaker 1: we had done limited editions where we designed them. I'm

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Speaker 1: actually wearing one right now. Let's say this is an

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Speaker 1: IWC that we did, sure, so you know, this is

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Speaker 1: a seven thousand dollars watch. We did five hundred sold

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Speaker 1: out and I think four minutes. Wow. So you know

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Speaker 1: it was it was with their help and their product

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Speaker 1: that we said, hey, this could be something much bigger

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Speaker 1: than I don't want to say just an editorial platform,

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Speaker 1: but we can do real content to commerce. And that

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Speaker 1: was really not a model that existed anywhere.

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Speaker 2: So let's talk about that. I want to loop Jeff

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Speaker 2: into this part of the conversation. So you start out

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Speaker 2: as essentially a non professional media outlet, evolve into a

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Speaker 2: media outlet, and then eventually add e commerce when you

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Speaker 2: think about Hodinky today, and I'll direct this to Jeff

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Speaker 2: who joined in twenty twenty two, is it media first?

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Speaker 2: Is it e commerce? Or is there no bright line

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Speaker 2: between the.

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Speaker 3: Yeah, you know, I get that question often, and in

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Speaker 3: fact I get that question often even from new joiners

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Speaker 3: to Hoodinky people that have come aboard. Perhaps it's that

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Speaker 3: we've hired them into the commercial side of the business.

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Speaker 3: Perhaps we've hired them into the editorial side of the business.

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Speaker 3: And it's not long before they ask, well, which one

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Speaker 3: are we are?

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Speaker 2: We?

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Speaker 3: Are we an editorial sort of content business? Are we

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Speaker 3: a commercial business that sells things? And I sort of

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Speaker 3: reject the premise that it has to be an or

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Speaker 3: rather than an end. But I think it's the end

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Speaker 3: aspect that really makes us unique, that really sets us

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Speaker 3: apart as a pioneer. And I'm going to quote actually

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Speaker 3: someone totally not connected to our business, but recently at

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Speaker 3: a conference for CEOs tech executives, the global president of

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Speaker 3: Shopify was speaking and was on stage and behind him

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Speaker 3: in his slideshow, he presented the logo of Hodinky, and

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Speaker 3: a friend of ours was in the audience. It was

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Speaker 3: quick on the trigger and pulled up his phone and

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Speaker 3: recorded you know this otherwise private conversation happening with CEOs,

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Speaker 3: and the gentleman from Shofai said, does anyone know who

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Speaker 3: Hodinky is?

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Speaker 1: And what year was this? This was last year.

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Speaker 3: I remember we're talking maybe six months ago. They don't

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Speaker 3: know who Hoadinky is. A bunch of hands I presume

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Speaker 3: got you know, put in the air because we were

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Speaker 3: just listening to the audio. Says for those who aren't aware,

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Speaker 3: if you want to watch, talk to me later. And

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Speaker 3: then he proceeded to say, Hodinky is the greatest watch

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Speaker 3: retailer on the planet. Here's why, And he said they

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Speaker 3: spent the first better part of ten years just writing

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Speaker 3: about watches, just pursuing the knowledge of watches, furthering the

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Speaker 3: knowledge of watches, building a huge community, and then and

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Speaker 3: only then did they start to actually sell things, at

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Speaker 3: which point there was a captive audience of people ready

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Speaker 3: to convert, which you know, at the end of the

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Speaker 3: day is really important if you're running an e commerce business,

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Speaker 3: you know, conversion is the key to all of that.

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Speaker 3: And I think, you know, we and again we get

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Speaker 3: asked this often is like, you know, are you editorial

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Speaker 3: or commercial? Isn't there a conflict. Isn't there some sort

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Speaker 3: of like mixed sort of motives there, And we reject

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Speaker 3: the premise. Again, we simply say, we write about things

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Speaker 3: that we love, we sell things that we love, and

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Speaker 3: in some ways this there's an intellectual honesty to that.

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Speaker 3: You know, there's there's editorial choices being made at every stage,

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Speaker 3: whether it's on the content side, whether it's on the

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Speaker 3: commercial side, and it just so happens that a content

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Speaker 3: to commerce model, if done effectively, is an incredibly efficient model.

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Speaker 1: A little secret.

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Speaker 3: We don't sort of always say this, but something that

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Speaker 3: we love to brag about is there wasn't until twenty

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Speaker 3: twenty one that Hodinki spent its first dollar on marketing, right,

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Speaker 3: A lot of businesses have to spend a ton of

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Speaker 3: their revenue on marketing in order to get that next

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Speaker 3: customer in the door. Really is the editorial side of Hootinky,

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Speaker 3: That really is what gets people interested, keeps them interested,

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Speaker 3: keeps them engaged. For many people, it's their daily read

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Speaker 3: on their morning commuter, their afternoon commute, you know, And

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Speaker 3: that's really the secret, the secret sauce.

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Speaker 1: Yeah, and just to put just quickly, to put a

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Speaker 1: fine point on that, just add further context. So Jeff

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Speaker 1: is exactly right. We hadn't spent a dollar marketing, and

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Speaker 1: literally not a dollar on marketing until April of twenty

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Speaker 1: twenty one when we heard it for CMO. We were

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Speaker 1: doing about thirty million dollars a year in revenue at

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Speaker 1: that point. So we've gotten from zero to thirty million

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Speaker 1: dollars a year roughly, you know, give or take without

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Speaker 1: a dollar spent on acquisition costs. Wow, that's impressive.

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Speaker 2: So since you mentioned the media focus on what you

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Speaker 2: really love, let's talk about what you guys write about.

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Speaker 2: It's often about the history and the narrative surrounding a

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Speaker 2: specific watch, the brand, the background why a watch is important,

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Speaker 2: even if you don't like it, here's why it's significant.

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Speaker 1: There's a lot.

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Speaker 2: I mean, obviously I'm a fan for a long time,

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Speaker 2: but discussing the in depth background of each watch. When

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Speaker 2: you started doing that, yeah, I mean other than a

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Speaker 2: p industry professional red a trade publication, nobody was doing

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Speaker 2: anything like that online.

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Speaker 1: Yeah, that's exactly right. And I think if there's one

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Speaker 1: thing that I'd say we got right early, which was

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Speaker 1: this the idea of taking this thing that really could

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Speaker 1: be perceived as pretentious or complicated or certainly expensive, you

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Speaker 1: can't deny that, and explaining it in a way that

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Speaker 1: is incredibly digestible for the average guy like you or

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Speaker 1: me or a Jeff, and also doing it online in

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Speaker 1: a broadcast mechanism. There were some people discussing the finer

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Speaker 1: points of high and watch making inforums, but you had

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Speaker 1: to register the comments, I moderated. If you weren't part

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Speaker 1: of the gang, you basically had no cloud at all.

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Speaker 1: And I said, that just doesn't feel democratic at all,

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Speaker 1: Like I love this stuff in such a sincere way.

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Speaker 1: I want to basically share what I'm learning to as

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Speaker 1: many people as possible, and then people can read it

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Speaker 1: or not, they can comment or not. That's okay, and

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Speaker 1: I think that is really what made us different from

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Speaker 1: everyone else. And we did it in a way that

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Speaker 1: was style. And something that I've always really focused on

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Speaker 1: is ensuring that the presentation of our of our media

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Speaker 1: is really beautiful. And so the first dollars I ever

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Speaker 1: spent at Hodinky were to actually have double engraved business cards,

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Speaker 1: which literally cost me thousands of dollars. We were exactly

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Speaker 1: you know, back in the day when business you.

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Speaker 2: Got that nice nine thousand dollar ubs exactly.

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Speaker 1: I've probably spent a third of it on business cards, truly,

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Speaker 1: But this idea of like presenting something that was just

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Speaker 1: so much more thoughtful than anyone else out there. And

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Speaker 1: yes we were a blog, and yes we had a

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Speaker 1: silly name, and yes we were online, but I cared

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Speaker 1: in such a way that was so different than everybody else.

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Speaker 1: And a lot of the journalists, and certainly not here

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Speaker 1: at Bloomberg, but elsewhere in the world, a lot of

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Speaker 1: journalists in the luxury space are there for the good wine,

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Speaker 1: the pretty girls or guys, the free travel sometimes on

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Speaker 1: these junk kids, and these amazing experiences. And I get that, like,

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Speaker 1: I'm not going to knock people that are there for that.

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Speaker 1: I wasn't. I didn't know that existed. I wasn't there

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Speaker 1: for any of that. I was there for the product

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Speaker 1: and there to share the product with as many people

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Speaker 1: as well.

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Speaker 2: And full disclosure, Bloomberg republishes ho dinky columns on occasion

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Speaker 2: it goes incas Yes, in the Wealth or Pursuits section

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Speaker 2: of Bloomberg. I didn't mention that earlier, but I want

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Speaker 2: everyone to understand you and I have never met before

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Speaker 2: the strictly in armslong conversation, but there is a relationship

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Speaker 2: between Bloomberg and Hodinky. But let me go back to

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Speaker 2: spending three thousand dollars on business cards on a zero

433
00:19:20,920 --> 00:19:24,760
Speaker 2: like of course, law, when did it dawn on you

434
00:19:24,840 --> 00:19:28,919
Speaker 2: that hey, this is could be a business and maybe

435
00:19:29,600 --> 00:19:30,520
Speaker 2: generate a profit.

436
00:19:30,640 --> 00:19:33,199
Speaker 1: Yeah, so, I mean early on we had advertisers, and

437
00:19:33,240 --> 00:19:35,520
Speaker 1: back then, I mean the cost of running hoodinky was

438
00:19:35,520 --> 00:19:38,920
Speaker 1: my time, which was effectively free, and then hosting fees

439
00:19:38,960 --> 00:19:41,040
Speaker 1: on squarespace and elsewhere. So we'll say, what we're using

440
00:19:41,040 --> 00:19:43,960
Speaker 1: for software was so tip it or Tumbler for the

441
00:19:44,000 --> 00:19:46,159
Speaker 1: first six months, and then Space and Squarespace, and I

442
00:19:46,160 --> 00:19:48,080
Speaker 1: love those guys. They were really instrumental to the growth

443
00:19:48,119 --> 00:19:50,800
Speaker 1: of Hordinky allowed me to design my own website in

444
00:19:50,840 --> 00:19:53,040
Speaker 1: two thousand and nine till probably twenty twelve or thirteen

445
00:19:53,040 --> 00:19:56,040
Speaker 1: when we got a professional upgrade and really like without

446
00:19:56,040 --> 00:19:58,480
Speaker 1: them and the interface that we put forward and everybody

447
00:19:58,520 --> 00:20:00,440
Speaker 1: was using WordPress and other you know other a really

448
00:20:00,600 --> 00:20:03,960
Speaker 1: frankly more rudimentary at the time products and Squarespace. Squarespace

449
00:20:04,040 --> 00:20:06,040
Speaker 1: was incredible, I mean really allowed. It was almost like

450
00:20:06,080 --> 00:20:08,000
Speaker 1: Shopify in a way, like really open up a whole

451
00:20:08,000 --> 00:20:09,680
Speaker 1: new world to me to to preduce something that was

452
00:20:09,720 --> 00:20:10,320
Speaker 1: really beautiful.

453
00:20:10,359 --> 00:20:13,440
Speaker 2: What were you using before square space tumbler? All right,

454
00:20:13,480 --> 00:20:16,520
Speaker 2: so let me explain how old I am sure when

455
00:20:16,600 --> 00:20:20,800
Speaker 2: I launched my blog it was on GeoCities, which means

456
00:20:21,000 --> 00:20:25,520
Speaker 2: that you had to do HTML coding. You learn and

457
00:20:25,600 --> 00:20:31,199
Speaker 2: when six apart came out with uh, I'm sorry, is

458
00:20:31,240 --> 00:20:35,720
Speaker 2: it movable type came out with trying to remember the name.

459
00:20:35,560 --> 00:20:37,280
Speaker 1: Of it, I can't even remember anymore. Uh.

460
00:20:37,359 --> 00:20:40,239
Speaker 2: Six apart was a movable type where it was old

461
00:20:40,240 --> 00:20:43,639
Speaker 2: wizzywig where you didn't have to code indent or pictures

462
00:20:43,760 --> 00:20:46,600
Speaker 2: or wait, I could just drag a picture there. This

463
00:20:46,760 --> 00:20:47,560
Speaker 2: is astonishing.

464
00:20:47,680 --> 00:20:47,960
Speaker 1: Yeah.

465
00:20:48,000 --> 00:20:50,080
Speaker 2: So you went from an hour of writing in two

466
00:20:50,080 --> 00:20:52,600
Speaker 2: hours of coding to an hour of writing and five

467
00:20:52,640 --> 00:20:55,480
Speaker 2: minutes of formatting it was that was three Yeah, that

468
00:20:55,600 --> 00:20:58,480
Speaker 2: was a game changer. So when you go from four

469
00:20:58,560 --> 00:21:01,240
Speaker 2: space to whatever was next, what we're using is.

470
00:21:01,240 --> 00:21:04,840
Speaker 1: The So we were in squarespace until probably twenty we

471
00:21:04,880 --> 00:21:08,840
Speaker 1: did a super custom version of scareespace and just on background,

472
00:21:08,920 --> 00:21:11,080
Speaker 1: I was a coder like I in high.

473
00:21:10,920 --> 00:21:13,440
Speaker 2: School graduated, I said, you were college finance.

474
00:21:13,440 --> 00:21:15,119
Speaker 1: So I was doing I was banging out coat for

475
00:21:15,400 --> 00:21:17,200
Speaker 1: a good chunk of time there in college and before

476
00:21:17,240 --> 00:21:19,120
Speaker 1: I built my first website when I was probably fourteen,

477
00:21:20,280 --> 00:21:22,040
Speaker 1: so you know, it was something that that I really

478
00:21:22,040 --> 00:21:23,920
Speaker 1: took a lot of pride in. And then in twenty

479
00:21:24,160 --> 00:21:27,560
Speaker 1: thirteen fourteen, an agency that that actually Jeff knows what

480
00:21:27,640 --> 00:21:31,720
Speaker 1: called Wondersauced a great name, I know, they approached us

481
00:21:31,760 --> 00:21:33,560
Speaker 1: and said, hey, we love what you're doing. Your content

482
00:21:33,640 --> 00:21:35,840
Speaker 1: is unreal, like, can we help redesign your site? And

483
00:21:35,840 --> 00:21:37,560
Speaker 1: I was like, I don't have any money, but sure,

484
00:21:37,600 --> 00:21:41,320
Speaker 1: you know, And it was this probably twenty twelve.

485
00:21:41,440 --> 00:21:44,399
Speaker 3: Okay, at that point in the nine thousand zeverance was gone.

486
00:21:44,359 --> 00:21:46,760
Speaker 1: Right, so four years later it was long but yeah,

487
00:21:46,760 --> 00:21:49,000
Speaker 1: so taking a step back. So we we hadn't been

488
00:21:49,040 --> 00:21:51,879
Speaker 1: making money with advertising, and advertisers came quickly because we

489
00:21:51,920 --> 00:21:53,440
Speaker 1: had represented we represented.

490
00:21:53,040 --> 00:21:54,399
Speaker 2: Anybody else was in that space.

491
00:21:54,760 --> 00:21:56,800
Speaker 1: You had it to yourself all online. And on top

492
00:21:56,840 --> 00:21:58,840
Speaker 1: of that, our audience was wrapped. I mean, audience was

493
00:21:58,880 --> 00:22:00,959
Speaker 1: obsessed with what we were doing. The young and they

494
00:22:00,960 --> 00:22:03,119
Speaker 1: were They might not be wealthy now, but they probably

495
00:22:03,280 --> 00:22:05,479
Speaker 1: they probably were going to be, you know, And so

496
00:22:05,520 --> 00:22:07,760
Speaker 1: we had average Our first big advertiser was Automarpi Gay

497
00:22:07,960 --> 00:22:10,280
Speaker 1: We had Ptec as a no kid. We had Rolex

498
00:22:10,320 --> 00:22:12,560
Speaker 1: as an advertiser, frankly in a different way than we

499
00:22:12,600 --> 00:22:15,840
Speaker 1: do now. Even it was really special because we weren't

500
00:22:15,840 --> 00:22:18,080
Speaker 1: selling anything. We were just there to promote the industry.

501
00:22:18,400 --> 00:22:20,880
Speaker 1: And what change for me was after a few years

502
00:22:20,920 --> 00:22:22,960
Speaker 1: of making a good living and I own the whole thing,

503
00:22:23,000 --> 00:22:24,480
Speaker 1: so it was like a nice little living for me.

504
00:22:24,880 --> 00:22:27,399
Speaker 1: I said, hey, like, I'm getting these emails that person

505
00:22:27,560 --> 00:22:30,080
Speaker 1: X or woman why is buying this protect filip or

506
00:22:30,160 --> 00:22:32,720
Speaker 1: Rolex whatever because of the content we're creating And here's

507
00:22:32,720 --> 00:22:34,520
Speaker 1: the proof, Like, here's an email, And I would take

508
00:22:34,560 --> 00:22:36,400
Speaker 1: that to brand X and I would say, hey, isn't

509
00:22:36,400 --> 00:22:38,119
Speaker 1: this cool? Do you guys want to advertise more? And

510
00:22:38,160 --> 00:22:39,520
Speaker 1: they say, oh, no, we're good, But like you want

511
00:22:39,520 --> 00:22:41,280
Speaker 1: to come to per Se for dinner? And I was like,

512
00:22:41,359 --> 00:22:43,160
Speaker 1: per Se is lovely, but like you know, that doesn't

513
00:22:43,200 --> 00:22:45,080
Speaker 1: that doesn't pay for my rent, It doesn't allow me

514
00:22:45,119 --> 00:22:47,439
Speaker 1: to grow this business. And I said, man, our audience

515
00:22:47,520 --> 00:22:49,879
Speaker 1: is really special. And we started doing these surveys, internal

516
00:22:49,920 --> 00:22:52,280
Speaker 1: surveys where hey, what do you want from Hoodinki? The

517
00:22:52,400 --> 00:22:54,560
Speaker 1: number one response every single time to this day is

518
00:22:54,560 --> 00:22:56,680
Speaker 1: for Hoodinki to sell things. Because they trust us.

519
00:22:56,720 --> 00:22:59,760
Speaker 2: Really very interesting. I'm intrigued by how you guys have

520
00:22:59,800 --> 00:23:03,240
Speaker 2: grown own. I'm familiar with a few parallel stories, but

521
00:23:04,119 --> 00:23:06,000
Speaker 2: I don't know of anybody that's taken it to the

522
00:23:06,040 --> 00:23:07,560
Speaker 2: level that that Hodinky has.

523
00:23:07,600 --> 00:23:08,360
Speaker 1: I appreciate that.

524
00:23:08,480 --> 00:23:11,520
Speaker 2: Ben Kleimber is the founder of odinky, one of the

525
00:23:11,520 --> 00:23:15,959
Speaker 2: world's most fascinating and well read watch sites. Jeff Fowler

526
00:23:16,119 --> 00:23:19,920
Speaker 2: is the company CEO. A couple of years ago they

527
00:23:20,000 --> 00:23:24,359
Speaker 2: launched whodinky shop is what its current name is. I

528
00:23:24,400 --> 00:23:26,359
Speaker 2: don't know if it was called something else.

529
00:23:26,480 --> 00:23:28,800
Speaker 1: It's Hodinky. I mean the shop was, you know, it

530
00:23:28,880 --> 00:23:31,119
Speaker 1: was basically, you know, to get into breast haacks. It

531
00:23:31,160 --> 00:23:34,200
Speaker 1: was a subdomain powered by Shopify, so we did shop

532
00:23:34,200 --> 00:23:35,600
Speaker 1: at hoodinky dot com. But it's hodinky.

533
00:23:35,640 --> 00:23:37,480
Speaker 2: It's all one company, all right, and it now does

534
00:23:37,560 --> 00:23:40,359
Speaker 2: sells over one hundred million dollars worth of watches, which

535
00:23:40,400 --> 00:23:43,480
Speaker 2: is not too shabby. So so let's talk a little

536
00:23:43,480 --> 00:23:47,960
Speaker 2: bit about the wacky world of watch retailing, starting with

537
00:23:48,600 --> 00:23:51,800
Speaker 2: why can't I walk into a Rolex shop or a

538
00:23:51,880 --> 00:23:56,240
Speaker 2: bushera Tourneau or any retailer and say, Hey, that Daytona

539
00:23:56,280 --> 00:23:59,560
Speaker 2: is pretty nice, and that Batman Jubilee bracelet. Let me

540
00:23:59,560 --> 00:24:01,399
Speaker 2: take those too. Why can't we do that?

541
00:24:01,480 --> 00:24:03,880
Speaker 3: I mean, the simple answer is just supply and demand.

542
00:24:04,440 --> 00:24:07,000
Speaker 3: You know, there's well more demand than there is supply

543
00:24:07,040 --> 00:24:10,879
Speaker 3: of these products brand new at retail. You know, it's

544
00:24:10,960 --> 00:24:15,400
Speaker 3: estimated that Rolex produces around a million watches something like that. Yeah,

545
00:24:15,720 --> 00:24:17,560
Speaker 3: give it, give or take a million watches a year.

546
00:24:18,200 --> 00:24:20,400
Speaker 3: No one knows the real answer for exactly how many

547
00:24:20,440 --> 00:24:23,040
Speaker 3: they could sell if they had, you know, the amount

548
00:24:23,080 --> 00:24:24,639
Speaker 3: of supply to meet demand. But it's got to be

549
00:24:24,680 --> 00:24:29,320
Speaker 3: in the millions, so you naturally get this issue of constraint.

550
00:24:29,000 --> 00:24:31,960
Speaker 3: I don't believe it's a managed constraint. I don't think

551
00:24:31,960 --> 00:24:34,560
Speaker 3: it's one where they're like intentionally trying to come some

552
00:24:34,840 --> 00:24:38,560
Speaker 3: million units under the demand. But of course, like you know,

553
00:24:38,640 --> 00:24:40,800
Speaker 3: only Rolexs would be able to answer that question at

554
00:24:40,800 --> 00:24:43,440
Speaker 3: the end of the day. Scaling up in this industry

555
00:24:43,520 --> 00:24:47,120
Speaker 3: is not terribly easy. I mean, you know, they're roll handmade,

556
00:24:47,160 --> 00:24:50,840
Speaker 3: They're very intricate. Some of the nicer watches are five hundred,

557
00:24:50,920 --> 00:24:54,399
Speaker 3: seven hundred nine hundred teeny tiny little pieces. Yeah, and

558
00:24:54,560 --> 00:24:57,240
Speaker 3: I often say that, you know, leading aside of the

559
00:24:57,280 --> 00:24:59,840
Speaker 3: brand on the dial of the watch, the most important

560
00:24:59,840 --> 00:25:02,560
Speaker 3: thing on the dial of a Swiss mechanic watches these

561
00:25:02,600 --> 00:25:05,760
Speaker 3: two tiny words Swiss made usually around the six o'clock marker.

562
00:25:06,119 --> 00:25:07,680
Speaker 3: And for that to be the case, it's got to

563
00:25:07,680 --> 00:25:11,399
Speaker 3: be totally manufactured, assembled, quality controlled. Every step of the

564
00:25:11,480 --> 00:25:13,960
Speaker 3: process is to take place in Switzerland. And I'm sure

565
00:25:14,000 --> 00:25:16,120
Speaker 3: you visited Switzerland then, and I have been there many times.

566
00:25:16,240 --> 00:25:17,560
Speaker 1: I have, it's on my list.

567
00:25:17,640 --> 00:25:20,399
Speaker 3: It is a teeny tiny country, right, It's like I

568
00:25:20,520 --> 00:25:22,520
Speaker 3: always say, for most parts of Switzerland, if you just

569
00:25:22,600 --> 00:25:24,000
Speaker 3: pick up your eyes and look at their eyes, and

570
00:25:24,040 --> 00:25:25,080
Speaker 3: you're probably looking.

571
00:25:24,920 --> 00:25:25,719
Speaker 1: At another country.

572
00:25:26,160 --> 00:25:26,240
Speaker 2: Now.

573
00:25:26,400 --> 00:25:28,520
Speaker 3: You know, the tiny villages in the mountains, you know

574
00:25:28,640 --> 00:25:33,040
Speaker 3: the historical you know, cradle of watchmaking is all there,

575
00:25:33,520 --> 00:25:35,119
Speaker 3: and a lot of people in those parts of the

576
00:25:35,200 --> 00:25:38,040
Speaker 3: country are affiliated to the watchmaking industry. But they're making

577
00:25:38,119 --> 00:25:41,240
Speaker 3: one tiny subcomponent, teeny tiny part, and it all comes

578
00:25:41,280 --> 00:25:44,280
Speaker 3: together in one glorious supply chain that ultimately becomes these watches.

579
00:25:44,320 --> 00:25:46,240
Speaker 3: But it isn't as though you can just scale that.

580
00:25:46,320 --> 00:25:49,240
Speaker 2: Up very quiet and to put some flesh on the bones.

581
00:25:49,640 --> 00:25:53,440
Speaker 2: So if Rolux is doing a million million, two Paddock

582
00:25:53,560 --> 00:25:56,639
Speaker 2: is doing sixty thousand, Yeah about that, And Lango is

583
00:25:56,720 --> 00:25:59,439
Speaker 2: doing five thousand, Yeah, five six seven in that right,

584
00:25:59,480 --> 00:26:03,240
Speaker 2: I mean are just insane numbers. Yes, it's seven thousand

585
00:26:03,280 --> 00:26:05,920
Speaker 2: of anything is Yeah, you know that. That's how many

586
00:26:06,320 --> 00:26:10,360
Speaker 2: must and convertibles sell. Yeah, that's and good good luck

587
00:26:10,400 --> 00:26:12,760
Speaker 2: get it. They cost about the same. You could walk

588
00:26:12,880 --> 00:26:15,760
Speaker 2: into a Ford dealer in order must end convertible. You

589
00:26:15,920 --> 00:26:19,760
Speaker 2: can't walk into a language now. To be fair, a

590
00:26:19,840 --> 00:26:22,919
Speaker 2: lot of these places they're like perpetual calendars that are

591
00:26:22,920 --> 00:26:26,360
Speaker 2: a buck fifty. You could probably go in and get one, yeah,

592
00:26:26,520 --> 00:26:28,879
Speaker 2: if you, if they like you, maybe maybe, And I

593
00:26:29,119 --> 00:26:31,960
Speaker 2: like those seem to be more available than the Yeah.

594
00:26:31,800 --> 00:26:33,280
Speaker 1: Look I think that the average I mean just to

595
00:26:33,320 --> 00:26:35,080
Speaker 1: get you know, the Rolex question is one we get

596
00:26:35,080 --> 00:26:36,880
Speaker 1: a lot obviously because every guy in the street. Look,

597
00:26:36,880 --> 00:26:39,600
Speaker 1: I love Rolex, I own several, but everybody when you.

598
00:26:39,640 --> 00:26:42,480
Speaker 2: Were a UBS, did you notice that, like every kind

599
00:26:42,560 --> 00:26:47,000
Speaker 2: of shady stockbroker had a Submarner. Yes, I mean I

600
00:26:47,720 --> 00:26:50,480
Speaker 2: know everybody loves that. I have a problem with that

601
00:26:50,640 --> 00:26:54,720
Speaker 2: watch because I just associate it with you know, junk

602
00:26:54,800 --> 00:26:55,920
Speaker 2: stocks and heart selling.

603
00:26:56,040 --> 00:26:58,160
Speaker 1: Yeah, I get that, and like the whole like used

604
00:26:58,160 --> 00:27:00,920
Speaker 1: car salesman guy where it's like that has that has

605
00:27:01,080 --> 00:27:03,880
Speaker 1: dissipated quite a bit, and now people want Rolexes.

606
00:27:03,920 --> 00:27:05,639
Speaker 2: You know, when I was, well, they're not the Rolex,

607
00:27:05,800 --> 00:27:08,040
Speaker 2: just the sub mariners got it. Like the senior guys

608
00:27:08,080 --> 00:27:11,480
Speaker 2: had gmts and Daytona's, but the junior guys all were

609
00:27:11,520 --> 00:27:14,640
Speaker 2: wearing subs and people kind of looked a stancy.

610
00:27:14,840 --> 00:27:16,000
Speaker 1: He used to be able to go in and get

611
00:27:16,040 --> 00:27:18,800
Speaker 1: it whenever you said, yeah, exactly. And the world has

612
00:27:18,880 --> 00:27:20,720
Speaker 1: just changed. And look, I would never take or we

613
00:27:20,760 --> 00:27:22,600
Speaker 1: should not take all the credit. But like sites like

614
00:27:22,720 --> 00:27:25,320
Speaker 1: ours change the demand flow in such a way that

615
00:27:25,520 --> 00:27:27,320
Speaker 1: Rolex or any brand just couldn't keep up with it.

616
00:27:27,320 --> 00:27:29,720
Speaker 1: And then COVID everything changed, you know, Dict Covid, Covid.

617
00:27:29,840 --> 00:27:31,879
Speaker 2: We'll talk a little bit about Covid, but so let

618
00:27:32,040 --> 00:27:36,360
Speaker 2: let's talk about a couple of other smaller brands. I'm

619
00:27:36,400 --> 00:27:39,720
Speaker 2: a fan of some of the h. Moser and Company.

620
00:27:40,200 --> 00:27:43,200
Speaker 2: Grooble four S seems to have exploded. NB and F

621
00:27:43,400 --> 00:27:47,320
Speaker 2: is next level Jacob and Company. Yeah, and that's before

622
00:27:47,400 --> 00:27:51,960
Speaker 2: we get to artisans, the Geneva who have decided give

623
00:27:52,080 --> 00:27:54,720
Speaker 2: us your Rolex and we'll slap one hundred thousand dollars

624
00:27:54,720 --> 00:27:56,600
Speaker 2: worth of labor on it and make it one of

625
00:27:56,680 --> 00:28:00,359
Speaker 2: a kind. Like this sort of thing start in the

626
00:28:00,440 --> 00:28:03,719
Speaker 2: car industry on a very very small level. You can

627
00:28:03,840 --> 00:28:07,240
Speaker 2: personalize your car, put stripes on it. But to take

628
00:28:07,320 --> 00:28:10,080
Speaker 2: a thirty thousand dollars Rolex and turn into a six

629
00:28:10,200 --> 00:28:12,199
Speaker 2: figure product pretty amazing.

630
00:28:12,359 --> 00:28:15,760
Speaker 1: Yeah, I mean, Rolex is should be viewed differently than

631
00:28:15,800 --> 00:28:18,840
Speaker 1: almost every other watch brand market shared to the giant.

632
00:28:18,880 --> 00:28:20,560
Speaker 1: I mean in the US they're one half of all

633
00:28:20,640 --> 00:28:21,800
Speaker 1: luxury watches, is that true?

634
00:28:21,960 --> 00:28:23,960
Speaker 2: I know, globally it's twenty something, and.

635
00:28:25,440 --> 00:28:27,760
Speaker 1: It's just enormous in this country. And you know, look,

636
00:28:27,960 --> 00:28:29,680
Speaker 1: there are big if you go to India, if you

637
00:28:29,760 --> 00:28:32,360
Speaker 1: go to Asia, there are brands such as Omega, Launjeans,

638
00:28:32,400 --> 00:28:34,840
Speaker 1: et cetera that that could rival Rolex in terms of popularity.

639
00:28:35,040 --> 00:28:37,120
Speaker 1: But in the US, this is Rolex country for sure.

640
00:28:37,840 --> 00:28:40,440
Speaker 1: But they are they should be viewed separately from almost

641
00:28:40,440 --> 00:28:43,080
Speaker 1: everybody else in the industry. As I said, the demand

642
00:28:43,160 --> 00:28:45,320
Speaker 1: mechanism that they have is just so robust. It's like

643
00:28:45,320 --> 00:28:47,120
Speaker 1: people don't even know why they want a Rolex, they

644
00:28:47,280 --> 00:28:50,200
Speaker 1: just do. And almost no other brand in the luxury

645
00:28:50,200 --> 00:28:52,440
Speaker 1: space and watch his car as anything really benefits from that.

646
00:28:52,680 --> 00:28:55,480
Speaker 2: So quick funny story, I have a guest a couple

647
00:28:55,520 --> 00:28:58,840
Speaker 2: of months ago, and he's wearing a reverse Panda, which

648
00:28:58,960 --> 00:29:01,920
Speaker 2: is the Daytona chronograph with the white face and the

649
00:29:02,000 --> 00:29:05,080
Speaker 2: black dials. And I don't remember what I was wearing.

650
00:29:05,280 --> 00:29:08,360
Speaker 2: Was probably my my yacht Master is my daily driver.

651
00:29:09,000 --> 00:29:11,960
Speaker 2: And I just happened after we'd done, I happened to

652
00:29:12,320 --> 00:29:15,080
Speaker 2: mention it to him, and he said, about twenty years ago,

653
00:29:15,120 --> 00:29:16,920
Speaker 2: when we first launched the firm, him and his partner

654
00:29:17,000 --> 00:29:19,440
Speaker 2: got one and then went to their local ad and said,

655
00:29:19,480 --> 00:29:20,360
Speaker 2: I need thirty of these.

656
00:29:20,760 --> 00:29:21,920
Speaker 1: This is twenty years ago.

657
00:29:22,520 --> 00:29:25,640
Speaker 2: And there why he goes every time we make someone

658
00:29:25,680 --> 00:29:27,000
Speaker 2: a partner, we give them a daytime.

659
00:29:27,240 --> 00:29:29,479
Speaker 1: Yeah, I like talk about it was a good investment.

660
00:29:29,520 --> 00:29:31,480
Speaker 2: By the way, he's in private equity, he's got a

661
00:29:31,520 --> 00:29:34,800
Speaker 2: good talk about spotting value before anybody else did.

662
00:29:35,200 --> 00:29:37,320
Speaker 1: But that sort of thing could never happen.

663
00:29:37,360 --> 00:29:38,800
Speaker 3: Well, no, Barry, you don't have to go that far

664
00:29:38,960 --> 00:29:41,760
Speaker 3: back in time to get to a moment where it

665
00:29:41,960 --> 00:29:43,640
Speaker 3: was possible to go into many of the brands you

666
00:29:43,800 --> 00:29:46,080
Speaker 3: just named and asked for a discount. I don't watch

667
00:29:46,280 --> 00:29:47,959
Speaker 3: how they have it available. You'd be able to get

668
00:29:47,960 --> 00:29:50,160
Speaker 3: it for a discount ten years ago, five.

669
00:29:50,040 --> 00:29:52,360
Speaker 1: Years ago, I mean, if you're talking about MBNF Moser

670
00:29:52,480 --> 00:29:53,640
Speaker 1: three years ago, pre COVID.

671
00:29:53,760 --> 00:29:55,880
Speaker 2: Yeah, I was looking at the torb On and the

672
00:29:55,920 --> 00:29:57,800
Speaker 2: Mosar and just couldn't wrap my head around the price,

673
00:29:57,840 --> 00:30:01,200
Speaker 2: and I couldn't pull the trigger. And now I regret it.

674
00:30:01,360 --> 00:30:04,200
Speaker 2: Not because I'm a flipper. Every watch I've ever bought

675
00:30:04,200 --> 00:30:08,000
Speaker 2: I still have unless I've given it away, but just

676
00:30:08,080 --> 00:30:09,800
Speaker 2: the thought of like, oh, I'd love to have that

677
00:30:10,000 --> 00:30:11,440
Speaker 2: for half of what that's gone for.

678
00:30:11,680 --> 00:30:13,720
Speaker 1: Yeah, once you break that, this is going to sound awful,

679
00:30:13,760 --> 00:30:15,320
Speaker 1: but here we are. You know, once you break one

680
00:30:15,360 --> 00:30:17,240
Speaker 1: hundred thousand dollars market, it becomes a lot easier. Do

681
00:30:17,320 --> 00:30:18,760
Speaker 1: it once and you can do all the time.

682
00:30:19,000 --> 00:30:21,960
Speaker 2: A lot of demand, limited supply. I couldn't help but

683
00:30:22,080 --> 00:30:26,960
Speaker 2: see Bloomberg headline last week Rolux and Protect investment beats

684
00:30:27,160 --> 00:30:30,120
Speaker 2: S and P five hundred gains over the past five years.

685
00:30:30,440 --> 00:30:31,760
Speaker 2: In other words, if you went out and bought a

686
00:30:31,800 --> 00:30:35,320
Speaker 2: bunch of rollies and a couple of paddocks, you outperform

687
00:30:35,440 --> 00:30:39,440
Speaker 2: the market. Is this what's driving the speculation in the

688
00:30:39,840 --> 00:30:40,560
Speaker 2: watch industry.

689
00:30:40,880 --> 00:30:41,680
Speaker 1: I think it's part of it.

690
00:30:41,760 --> 00:30:44,960
Speaker 3: And again I think to really trace the history what

691
00:30:45,080 --> 00:30:47,080
Speaker 3: got us here, you'd have to go back to again.

692
00:30:47,960 --> 00:30:50,000
Speaker 3: You know, if I may say, sites like cud inky

693
00:30:50,720 --> 00:30:53,760
Speaker 3: that really helped to kind of encourage more curiosity about

694
00:30:53,760 --> 00:30:56,400
Speaker 3: this industry, build a community of people, more and more

695
00:30:56,640 --> 00:30:59,040
Speaker 3: of whom are interested in this in this product category.

696
00:30:59,440 --> 00:31:01,640
Speaker 3: I think you can can't ignore the impact of the

697
00:31:01,680 --> 00:31:03,320
Speaker 3: Apple Watch, if I may say, I mean this was

698
00:31:03,400 --> 00:31:05,320
Speaker 3: why is that? Well, this was meant to have been

699
00:31:05,480 --> 00:31:08,160
Speaker 3: the nail and the coffin of the mechanical watch.

700
00:31:08,200 --> 00:31:10,400
Speaker 2: So let's let's back that up a little bit, because

701
00:31:10,440 --> 00:31:13,360
Speaker 2: I like where you're going with this so quartz crisis.

702
00:31:13,520 --> 00:31:17,000
Speaker 2: You had all these cheap Japanese quartz watches using to

703
00:31:17,040 --> 00:31:21,640
Speaker 2: maintain battery precise to seconds a year. And why do

704
00:31:21,760 --> 00:31:24,400
Speaker 2: I need a complex, expensive mechanical watch when I get

705
00:31:24,440 --> 00:31:25,040
Speaker 2: a cheap.

706
00:31:24,800 --> 00:31:27,680
Speaker 3: Oh, we've seen we've seen this story before. This was

707
00:31:27,720 --> 00:31:29,760
Speaker 3: meant to have been the end of the Swiss the

708
00:31:29,880 --> 00:31:33,560
Speaker 3: mechanical watch industry in particular. Obviously, you know there there

709
00:31:33,600 --> 00:31:37,360
Speaker 3: were some incredibly talented, committed executives at that time, any

710
00:31:37,400 --> 00:31:40,440
Speaker 3: of whom are in particular you want to mention anything

711
00:31:40,480 --> 00:31:43,280
Speaker 3: the one who probably gets and maybe deserves a must

712
00:31:43,280 --> 00:31:46,920
Speaker 3: graviouldn't you grade is probably Jean lab there, Nick Kayak

713
00:31:46,960 --> 00:31:47,560
Speaker 3: as well, you know.

714
00:31:47,960 --> 00:31:54,440
Speaker 2: The designer of the uh Autemar Piget Oak and the.

715
00:31:56,360 --> 00:31:56,680
Speaker 1: Jarl.

716
00:31:57,240 --> 00:31:59,680
Speaker 2: Jenta has to get a lot of credit for saving

717
00:32:00,280 --> 00:32:03,400
Speaker 2: the watch industry, right is yeah, where do you put

718
00:32:03,520 --> 00:32:04,480
Speaker 2: these three guys in?

719
00:32:05,320 --> 00:32:07,840
Speaker 1: If I got in? Yeah, it slightly different. So Jenta

720
00:32:08,040 --> 00:32:10,160
Speaker 1: was early nineteen seventies and he was just a designer.

721
00:32:10,240 --> 00:32:12,200
Speaker 1: So it's like saying, hey, like, design me a coffee cup.

722
00:32:12,320 --> 00:32:14,120
Speaker 1: Here's a coffee cup. That's it. We're done now. You

723
00:32:14,200 --> 00:32:17,400
Speaker 1: know what Ap and Petak and others did with Genta's

724
00:32:17,480 --> 00:32:19,640
Speaker 1: design is really what allowed them to kind of continue

725
00:32:19,640 --> 00:32:21,800
Speaker 1: to grow. But I think what what Jeff is referring

726
00:32:21,800 --> 00:32:24,600
Speaker 1: to is really a decade later when courts really kind

727
00:32:24,640 --> 00:32:26,640
Speaker 1: of came in, and to be clear, courts won. Like

728
00:32:26,920 --> 00:32:30,960
Speaker 1: if you look at how many watch probably ninety nine percent, right,

729
00:32:31,160 --> 00:32:33,760
Speaker 1: So just to be clear, like courts won. That doesn't

730
00:32:33,800 --> 00:32:36,040
Speaker 1: mean that this that the Swiss didn't have its own

731
00:32:36,120 --> 00:32:39,080
Speaker 1: little kind of pocketive influence and pocket of growth growth potential.

732
00:32:39,360 --> 00:32:41,920
Speaker 1: But as Jeff is saying, Jean club Beaver, who revived

733
00:32:41,960 --> 00:32:43,800
Speaker 1: blan Pond and then Omega in the nineties, he was

734
00:32:43,800 --> 00:32:45,800
Speaker 1: the first one to sign James Bond and Sydney Crawford

735
00:32:45,800 --> 00:32:49,800
Speaker 1: to Omega. Huge deal, mister Hyak who designed the Swatch, right,

736
00:32:49,880 --> 00:32:51,600
Speaker 1: I mean that is a Swiss made watch for back

737
00:32:51,680 --> 00:32:54,560
Speaker 1: then was probably what twenty five probably yeah, thirty.

738
00:32:54,360 --> 00:32:57,120
Speaker 2: Bives and that's a giant right. People collected them like

739
00:32:57,200 --> 00:32:57,880
Speaker 2: beanie babies.

740
00:32:58,360 --> 00:33:00,960
Speaker 1: Swash in the eighties was as big than anything today.

741
00:33:00,960 --> 00:33:03,480
Speaker 1: I mean just cannot be kind of surmised or can

742
00:33:03,560 --> 00:33:06,120
Speaker 1: really understood today here, Swatch in the eighties was everything.

743
00:33:06,160 --> 00:33:08,400
Speaker 2: It's because they turned watches into fashion.

744
00:33:08,080 --> 00:33:11,600
Speaker 1: Exactly exactly that you still have a few tricks up.

745
00:33:11,520 --> 00:33:13,360
Speaker 2: Their sleeve, right, Well, we just saw what they did

746
00:33:13,400 --> 00:33:14,720
Speaker 2: with Omega, had.

747
00:33:14,640 --> 00:33:17,000
Speaker 3: People lining up around the block to get to get

748
00:33:17,000 --> 00:33:17,240
Speaker 3: a watch.

749
00:33:17,680 --> 00:33:17,800
Speaker 2: Right.

750
00:33:18,120 --> 00:33:21,000
Speaker 1: We've done five collaborations with Swatch, right, I mean Judikia,

751
00:33:21,080 --> 00:33:24,400
Speaker 1: We've collaborated with Amez, with Laika, with Omega. I mean really,

752
00:33:24,560 --> 00:33:26,320
Speaker 1: you know, high end brands, and we did with Swatch.

753
00:33:26,640 --> 00:33:28,480
Speaker 1: And the guys that are buying our sixty thousand dollars

754
00:33:28,480 --> 00:33:30,640
Speaker 1: of astron or whatever are also buying our swatches.

755
00:33:30,920 --> 00:33:35,960
Speaker 2: Really absolutely so, I totally get the appeal of Asiko

756
00:33:36,560 --> 00:33:38,920
Speaker 2: for three, four or five six hundred dollars you get

757
00:33:38,960 --> 00:33:41,880
Speaker 2: a really well made watch. Question that looks pretty good,

758
00:33:42,000 --> 00:33:44,440
Speaker 2: tells pretty good time. And if one of your nephews

759
00:33:44,480 --> 00:33:46,640
Speaker 2: says something, oh you like it here, Yeah, it's not.

760
00:33:46,880 --> 00:33:48,320
Speaker 2: It's I don't know if I would do that with this,

761
00:33:48,560 --> 00:33:52,920
Speaker 2: but I certainly would do that with anything from Seiko,

762
00:33:53,040 --> 00:33:58,360
Speaker 2: even some of the nicer divers that are experienced. But

763
00:33:58,600 --> 00:34:02,200
Speaker 2: Swatch always, maybe it's my age, watch always struck me

764
00:34:02,240 --> 00:34:05,959
Speaker 2: as kind of like a fun fashioning not a serious

765
00:34:06,080 --> 00:34:06,560
Speaker 2: time people.

766
00:34:06,600 --> 00:34:09,640
Speaker 1: Well, I mean, look, first of all, Swatch owns Blanc Pond, Brigue, Omegan.

767
00:34:09,760 --> 00:34:12,520
Speaker 2: Oh the company I'm talking about the Schwatch watch exactly.

768
00:34:12,920 --> 00:34:14,080
Speaker 2: The company is massive.

769
00:34:14,200 --> 00:34:14,359
Speaker 1: Yeah.

770
00:34:14,680 --> 00:34:16,399
Speaker 3: I would argue though that does it does it need

771
00:34:16,520 --> 00:34:19,239
Speaker 3: to be something complicated, in something serious, because for some

772
00:34:19,320 --> 00:34:22,080
Speaker 3: people that gets in the way of just the enjoyment

773
00:34:22,120 --> 00:34:22,839
Speaker 3: of wearing the watch.

774
00:34:22,920 --> 00:34:26,000
Speaker 2: I think, you know, I'm aware when I wear a

775
00:34:26,320 --> 00:34:28,799
Speaker 2: very nice watch, I'm aware. Oh gee, am I going

776
00:34:28,840 --> 00:34:29,800
Speaker 2: to get on the subway with this?

777
00:34:29,960 --> 00:34:32,759
Speaker 1: Yeah? Very true, very true. We'll talk about what AP

778
00:34:33,000 --> 00:34:33,279
Speaker 1: is doing.

779
00:34:34,000 --> 00:34:36,440
Speaker 3: Yeah, with a Swatch, he probably wouldn't have that concern

780
00:34:36,640 --> 00:34:39,200
Speaker 3: for sure. And I think you know there we talked

781
00:34:39,200 --> 00:34:41,880
Speaker 3: about Gerald Genta, I mean his impact was surely from

782
00:34:41,920 --> 00:34:44,720
Speaker 3: the design angle he's watched. One thing they've done incredibly

783
00:34:44,760 --> 00:34:47,960
Speaker 3: well is just design great looking watches and design watches

784
00:34:48,000 --> 00:34:50,320
Speaker 3: for different people with different appeals. It was in Paris

785
00:34:50,400 --> 00:34:53,359
Speaker 3: recently they did a really cool collaboration with Cafe to Floor.

786
00:34:53,520 --> 00:34:56,160
Speaker 3: We've talked about the Moon Swatch. I mean, ours our

787
00:34:56,200 --> 00:34:58,480
Speaker 3: beautiful watches and are the ones that we've collaborated with

788
00:34:58,560 --> 00:35:01,040
Speaker 3: Swatch on. So design something to watch is no firm.

789
00:35:01,080 --> 00:35:03,359
Speaker 3: For some people, it's a it's fashion, you know, it's

790
00:35:03,400 --> 00:35:05,000
Speaker 3: something that they put on in their part.

791
00:35:05,440 --> 00:35:08,200
Speaker 2: So let's talk about the Apple Watch. Yeah, when when

792
00:35:08,280 --> 00:35:11,800
Speaker 2: the Apple Watch comes out and it starts just selling

793
00:35:12,680 --> 00:35:15,360
Speaker 2: crazy numbers, what was going on in Geneva?

794
00:35:15,400 --> 00:35:18,000
Speaker 1: What would people think? They were terrified and really like

795
00:35:18,040 --> 00:35:19,560
Speaker 1: here we go again, Oh my god. I mean it

796
00:35:19,680 --> 00:35:21,360
Speaker 1: was the end of the end of time, right and

797
00:35:21,440 --> 00:35:23,759
Speaker 1: in full transparency, I was consultant on the Apple Watch,

798
00:35:23,840 --> 00:35:25,960
Speaker 1: like I helped. I helped them and Johnny I was

799
00:35:26,000 --> 00:35:28,839
Speaker 1: on our second cover of our magazine. I mean, well,

800
00:35:29,239 --> 00:35:31,400
Speaker 1: and so you know, I'm a lover of Apple Like

801
00:35:31,440 --> 00:35:33,200
Speaker 1: I was just a designed guy. The guy who's spending

802
00:35:33,239 --> 00:35:34,840
Speaker 1: money on business cards when he had no money, Like

803
00:35:35,480 --> 00:35:38,000
Speaker 1: what Apple does is just remarkable. So it was honored

804
00:35:38,040 --> 00:35:40,080
Speaker 1: to work on that project. And so I was actually

805
00:35:40,120 --> 00:35:42,279
Speaker 1: the only person from the watching industry to attend the

806
00:35:42,360 --> 00:35:44,560
Speaker 1: launch of the original Apple No kidd. And that story

807
00:35:44,600 --> 00:35:46,680
Speaker 1: that I wrote, which was totally unbiased, Like even though

808
00:35:46,680 --> 00:35:48,560
Speaker 1: I helped kind of work on it, it was like

809
00:35:48,840 --> 00:35:50,680
Speaker 1: what they were doing with the Apple Watch in terms

810
00:35:50,719 --> 00:35:52,440
Speaker 1: of materials and in terms of the way that the

811
00:35:52,520 --> 00:35:54,279
Speaker 1: bracelets snapped on and off. I mean like it was

812
00:35:54,719 --> 00:35:57,040
Speaker 1: miles ahead of Switzerland, miles and these things were four

813
00:35:57,120 --> 00:35:59,920
Speaker 1: hundred dollars and that really really terrified the Swiss. And

814
00:36:00,080 --> 00:36:02,960
Speaker 1: the Swiss are there there. They can be persnickety, for sure,

815
00:36:02,960 --> 00:36:05,719
Speaker 1: and they really thought that anybody that was supporting the

816
00:36:05,719 --> 00:36:08,080
Speaker 1: Apple Watch was an enemy, including us for a time,

817
00:36:08,239 --> 00:36:10,200
Speaker 1: No kid, truly and we we still to this day.

818
00:36:10,280 --> 00:36:11,800
Speaker 1: So Apple Watch more were proud to sell it. But

819
00:36:11,920 --> 00:36:14,279
Speaker 1: it really got people to think about the wrist as

820
00:36:14,360 --> 00:36:17,760
Speaker 1: real estate again, which they had not gone in a decade.

821
00:36:18,040 --> 00:36:21,280
Speaker 2: The wrist as real estate. Yeah, huh, that's really interesting.

822
00:36:21,480 --> 00:36:23,640
Speaker 2: So I noticed you're not wearing an Apple Watch, not today,

823
00:36:23,640 --> 00:36:25,320
Speaker 2: and you're not wearing an app I was this weekend.

824
00:36:25,760 --> 00:36:29,440
Speaker 2: I consider it a great privilege to not be notified

825
00:36:29,480 --> 00:36:30,560
Speaker 2: about anything.

826
00:36:30,640 --> 00:36:34,520
Speaker 1: Like to me, to me an Apple watch, an Apple watches.

827
00:36:34,920 --> 00:36:38,200
Speaker 2: Wait, I'm tied into I'm getting Slack notifications, I'm getting

828
00:36:38,239 --> 00:36:41,120
Speaker 2: Twitter notifications, I'm getting email and text leave me at

829
00:36:41,160 --> 00:36:41,920
Speaker 2: the long Yeah.

830
00:36:41,800 --> 00:36:43,160
Speaker 1: Yeah, that's kind of get it.

831
00:36:43,840 --> 00:36:45,880
Speaker 2: And I know a lot of people that you know,

832
00:36:46,320 --> 00:36:48,080
Speaker 2: if they lost their roll ups, they'd be upset, but

833
00:36:48,120 --> 00:36:50,400
Speaker 2: they couldn't go a day without their look, their Apple.

834
00:36:50,600 --> 00:36:52,239
Speaker 1: The Apple Watch, you can make whatever you want it

835
00:36:52,280 --> 00:36:53,840
Speaker 1: to be. So I wear it solely when I go

836
00:36:53,880 --> 00:36:55,160
Speaker 1: to the gym and when I play off, that's it.

837
00:36:55,280 --> 00:36:57,319
Speaker 1: That's the only time that I wear Historically, I used

838
00:36:57,360 --> 00:36:59,480
Speaker 1: to win a few versions ago. I had one that

839
00:36:59,600 --> 00:37:01,520
Speaker 1: was selled, and I would leave my phone at home

840
00:37:01,520 --> 00:37:03,200
Speaker 1: when I would go driving, and I might need a

841
00:37:03,320 --> 00:37:05,759
Speaker 1: vintage car to kind of escape. But so I use

842
00:37:05,760 --> 00:37:08,200
Speaker 1: it for two things, working out and really working out,

843
00:37:08,239 --> 00:37:11,600
Speaker 1: and that's it's But I do not have notifications of emails, texts,

844
00:37:11,600 --> 00:37:13,600
Speaker 1: et cetera. It's really for me giving input to it.

845
00:37:13,920 --> 00:37:15,800
Speaker 1: How many steps did I take, what kind of calories

846
00:37:15,800 --> 00:37:16,960
Speaker 1: have I burned? Et cetera.

847
00:37:17,560 --> 00:37:19,600
Speaker 2: And you you don't want to wear a nice watch

848
00:37:19,640 --> 00:37:22,719
Speaker 2: when you're golfing anyway, because the little pistons that hold

849
00:37:22,760 --> 00:37:25,959
Speaker 2: the face in place will snap if you're wearing a watch,

850
00:37:26,239 --> 00:37:29,359
Speaker 2: yeah and swimming the golf or good. Yeah, you could

851
00:37:29,360 --> 00:37:31,600
Speaker 2: always buy a reshard meal. Yeah, I mean that's probably

852
00:37:31,600 --> 00:37:34,080
Speaker 2: the most responsible thing to do, exactly. You know, we'll

853
00:37:34,120 --> 00:37:36,200
Speaker 2: get those financially response, get the one, the rough m

854
00:37:36,280 --> 00:37:40,080
Speaker 2: the dolarwares. Yeah there, but it's on his other hands,

855
00:37:40,120 --> 00:37:40,360
Speaker 2: isn't it.

856
00:37:40,440 --> 00:37:43,000
Speaker 1: It's not on his uh but but Bubba Watson has

857
00:37:43,080 --> 00:37:44,680
Speaker 1: his own reshard meal and he wears it every time

858
00:37:44,719 --> 00:37:48,080
Speaker 1: he plays. No, kidd is it's pink, right, it's pink

859
00:37:48,160 --> 00:37:51,120
Speaker 1: now is originally white, but yes, funny and a pink

860
00:37:51,200 --> 00:37:54,960
Speaker 1: three million his was when it launches around six fifty.

861
00:37:55,000 --> 00:37:56,719
Speaker 1: I would guess now probably run a million.

862
00:37:56,840 --> 00:37:59,719
Speaker 2: Right, So so forget strapping a BMW two your wrist.

863
00:38:00,120 --> 00:38:02,759
Speaker 2: That's a very nice three bedroom condo. Oh yeah, yes,

864
00:38:03,320 --> 00:38:08,360
Speaker 2: place two bedroom condo with yeah, yeah, exactly. And you

865
00:38:08,480 --> 00:38:11,560
Speaker 2: know that not everybody is going to be comfortable, or

866
00:38:12,000 --> 00:38:14,000
Speaker 2: even the people who can afford it. A lot of

867
00:38:14,040 --> 00:38:18,720
Speaker 2: people look at Watchnista's for lack of a better word,

868
00:38:18,840 --> 00:38:19,200
Speaker 2: and like.

869
00:38:19,400 --> 00:38:22,520
Speaker 1: You guys are crazy. Yeah, And I think to some degree.

870
00:38:22,680 --> 00:38:25,080
Speaker 1: Everyone that's passionate about anything is a little bit crazy. Sure,

871
00:38:25,480 --> 00:38:26,880
Speaker 1: But I think also if you look at I mean,

872
00:38:26,880 --> 00:38:28,840
Speaker 1: the other thing that I'm interested in like you is cars.

873
00:38:28,880 --> 00:38:30,360
Speaker 1: And so if you look at the running costs of

874
00:38:30,400 --> 00:38:31,759
Speaker 1: a great car, Let's say you buy a car and

875
00:38:31,880 --> 00:38:34,520
Speaker 1: watch both fifty thousand dollars right right, own it for

876
00:38:34,600 --> 00:38:36,080
Speaker 1: on them both for ten years, get the ing German

877
00:38:36,160 --> 00:38:38,440
Speaker 1: for both for ten years, to watch you. Basically, if

878
00:38:38,480 --> 00:38:40,200
Speaker 1: you want to have insurance, you can. You don't have

879
00:38:40,280 --> 00:38:41,960
Speaker 1: to have a storagees nothing, put it in a drawer,

880
00:38:42,000 --> 00:38:46,120
Speaker 1: a safety deposit box. Cars, insurance, maintenance, parking cars are

881
00:38:46,280 --> 00:38:48,480
Speaker 1: so much more expensive you want to maintain as a

882
00:38:48,480 --> 00:38:50,960
Speaker 1: collectible assets. So it's remarkable and I do both, so

883
00:38:51,040 --> 00:38:54,399
Speaker 1: I know. But watches they can do so much more

884
00:38:54,520 --> 00:38:54,960
Speaker 1: than cars.

885
00:38:55,000 --> 00:38:57,360
Speaker 2: Eight you're wearing. You're wearing them right now, so am I,

886
00:38:57,480 --> 00:38:58,040
Speaker 2: so is Jeff.

887
00:38:58,400 --> 00:39:01,560
Speaker 1: And these are things that like these are real almost

888
00:39:01,600 --> 00:39:04,920
Speaker 1: Housman's for for for people's lives, and so like when

889
00:39:04,960 --> 00:39:07,600
Speaker 1: my daughter was born in December twenty twenty one, I

890
00:39:07,680 --> 00:39:10,000
Speaker 1: gave my mother, my mother in law, and my wife

891
00:39:10,080 --> 00:39:12,200
Speaker 1: a watch each to celebrate the birth of her. And

892
00:39:12,280 --> 00:39:14,560
Speaker 1: those watches are hers and like, you know, for until

893
00:39:14,800 --> 00:39:16,640
Speaker 1: until the day that she dies, you know, hopefully long

894
00:39:16,719 --> 00:39:19,160
Speaker 1: far away, those watches of hers and she'll remember that

895
00:39:19,360 --> 00:39:20,759
Speaker 1: that these were given, you know, the day that.

896
00:39:20,760 --> 00:39:21,799
Speaker 2: She was a milestone.

897
00:39:22,640 --> 00:39:24,480
Speaker 1: And I think you know the omega that my grandfather

898
00:39:24,560 --> 00:39:26,520
Speaker 1: gave me. That watch changed my life. I can wear

899
00:39:26,520 --> 00:39:28,960
Speaker 1: it every day. When my daughter was born, I was

900
00:39:29,000 --> 00:39:31,360
Speaker 1: wearing that watch. And when I asked my wife to

901
00:39:31,400 --> 00:39:33,160
Speaker 1: wear to marry me, I was wearing that watch.

902
00:39:33,200 --> 00:39:34,120
Speaker 2: And what'd you get married? In?

903
00:39:35,000 --> 00:39:37,000
Speaker 1: A ptec A Protect fifty two seventy all right?

904
00:39:37,000 --> 00:39:39,000
Speaker 2: Because you weren't fooling around. This was a serious that

905
00:39:39,120 --> 00:39:40,840
Speaker 2: was Yeah, we were not messing around. We were in

906
00:39:40,960 --> 00:39:42,520
Speaker 2: Rome and yeah, it was. It was.

907
00:39:42,600 --> 00:39:43,120
Speaker 1: It was a good one.

908
00:39:43,480 --> 00:39:46,040
Speaker 2: When you travel, do you travel with multiple watches either?

909
00:39:46,520 --> 00:39:49,919
Speaker 3: Yeah, it depends on where I'm traveling to. Recently, we're

910
00:39:50,000 --> 00:39:52,879
Speaker 3: in Geneva for Watches and Wonders, the big international trade

911
00:39:52,920 --> 00:39:55,320
Speaker 3: show of watches. I think I had nine watches for

912
00:39:55,440 --> 00:39:55,839
Speaker 3: that event.

913
00:39:55,920 --> 00:39:57,880
Speaker 1: Really so different. Watch twice a day.

914
00:39:58,040 --> 00:40:00,920
Speaker 3: Yeah, multiple times, multiple watches in this same day. Sometimes,

915
00:40:01,000 --> 00:40:03,359
Speaker 3: you know, your meeting with a brand partner you want

916
00:40:03,360 --> 00:40:06,359
Speaker 3: to represent. Sure, sometimes I'll bring one watch if I'm

917
00:40:06,400 --> 00:40:08,680
Speaker 3: going or two watches usually as a minimum. If I'm going,

918
00:40:08,760 --> 00:40:10,359
Speaker 3: you know, on a golf trip, I'll bring a watch

919
00:40:10,440 --> 00:40:12,960
Speaker 3: I wear golfing. I'll bring another watch that's sort of

920
00:40:13,000 --> 00:40:15,880
Speaker 3: like a daily wear, usually something that can kind of

921
00:40:15,960 --> 00:40:18,560
Speaker 3: go with different types of looks and outfits and activities.

922
00:40:18,680 --> 00:40:20,919
Speaker 1: But and just for the record, Ben.

923
00:40:20,920 --> 00:40:22,560
Speaker 3: Mentioned you know you don't have to ensure what you

924
00:40:22,600 --> 00:40:24,880
Speaker 3: should ensure your watch, especially if you're traveling with it,

925
00:40:25,080 --> 00:40:27,880
Speaker 3: especially if you value it. Inside note, we offer insurance

926
00:40:27,880 --> 00:40:28,279
Speaker 3: hooting and.

927
00:40:28,320 --> 00:40:29,960
Speaker 2: We're going to talk a little bit about that. But

928
00:40:30,080 --> 00:40:32,759
Speaker 2: as since you brought it up, someone asked me this

929
00:40:32,880 --> 00:40:35,239
Speaker 2: question the other day. I said, I don't know the answer,

930
00:40:35,320 --> 00:40:38,200
Speaker 2: but I know the guys that do you have a

931
00:40:39,880 --> 00:40:42,520
Speaker 2: writer on your home insurance with a number of watches

932
00:40:42,600 --> 00:40:45,799
Speaker 2: listed you travel with that watch? Is that covered under

933
00:40:45,800 --> 00:40:48,279
Speaker 2: your homeowner's insurance or do you need to have a

934
00:40:48,560 --> 00:40:50,160
Speaker 2: separate policy on them.

935
00:40:50,280 --> 00:40:52,839
Speaker 3: There are lots of questions like that that you could

936
00:40:53,000 --> 00:40:57,439
Speaker 3: ask when discussing how a homeowner's insurance policy could cover

937
00:40:57,560 --> 00:40:59,680
Speaker 3: the value of a loss or stolen or downage watch.

938
00:41:00,000 --> 00:41:02,080
Speaker 3: I would just say ignore all those questions because, to

939
00:41:02,160 --> 00:41:04,440
Speaker 3: be honest, the best way to ensure your watch is

940
00:41:04,520 --> 00:41:06,840
Speaker 3: not to attach it or assign it to your homeowners policy.

941
00:41:07,280 --> 00:41:10,319
Speaker 3: Itated Yeah, I mean, we've had stories from people who

942
00:41:10,400 --> 00:41:12,200
Speaker 3: had to make a claim on a damage or lost

943
00:41:12,280 --> 00:41:14,640
Speaker 3: watch while it was a part of their homeowners insurance.

944
00:41:14,680 --> 00:41:17,200
Speaker 3: Then their homeowners insurance got canceled and they couldn't get

945
00:41:17,239 --> 00:41:20,160
Speaker 3: homeowners insurance. Again, it's just not a situation when we

946
00:41:20,280 --> 00:41:21,359
Speaker 3: want to find yourself.

947
00:41:21,040 --> 00:41:23,440
Speaker 2: I total de car at five miles an hour, I

948
00:41:23,480 --> 00:41:25,880
Speaker 2: got t boned, and I had that exact same thing

949
00:41:25,920 --> 00:41:28,360
Speaker 2: happen right the homeowners and the umbrella was canceled and

950
00:41:28,480 --> 00:41:31,439
Speaker 2: you had to scramble to replace it. Because it's easy

951
00:41:31,560 --> 00:41:34,920
Speaker 2: enough to get homeowners an umbrella is a little more complicated.

952
00:41:35,120 --> 00:41:37,799
Speaker 1: Yeah. In twenty twenty one, we actually launched our own

953
00:41:37,800 --> 00:41:40,399
Speaker 1: insurance program that that myself and a job with Job

954
00:41:40,440 --> 00:41:43,040
Speaker 1: So Chubb is the underwriter, but we conceived this product ourselves.

955
00:41:43,120 --> 00:41:45,480
Speaker 1: This is a totally unique product designed for watch collectors,

956
00:41:45,719 --> 00:41:47,480
Speaker 1: so it has nothing to do with homeowners, nothing to

957
00:41:47,520 --> 00:41:50,799
Speaker 1: do with anything else. And you can dynamically and really

958
00:41:50,880 --> 00:41:54,640
Speaker 1: retroactively assign and unassigned insurance attachments to any watch, so

959
00:41:54,719 --> 00:41:56,399
Speaker 1: like you're out of the house right now, you could

960
00:41:56,480 --> 00:41:57,920
Speaker 1: ensure that watch when you go home tonight and put

961
00:41:57,960 --> 00:41:59,600
Speaker 1: in your safe, turn it off, do it all on

962
00:41:59,640 --> 00:42:01,719
Speaker 1: your phone. And so it's all in the hood Inky app.

963
00:42:01,800 --> 00:42:03,880
Speaker 1: It's underwritten by chub, so you know, best in class.

964
00:42:04,120 --> 00:42:06,200
Speaker 1: It's really an amazing thing that truly like, Like I

965
00:42:06,280 --> 00:42:09,000
Speaker 1: can say, you can critique Codnky for anything you want,

966
00:42:09,080 --> 00:42:11,359
Speaker 1: but our insurance product is better than anybody else's by far.

967
00:42:11,560 --> 00:42:12,560
Speaker 1: I'm gonna take a look at that.

968
00:42:12,800 --> 00:42:14,440
Speaker 3: Yeah, a little bit interest.

969
00:42:15,120 --> 00:42:16,719
Speaker 2: And by the way, you guys did a very nice

970
00:42:16,800 --> 00:42:17,920
Speaker 2: job on the app.

971
00:42:18,280 --> 00:42:18,759
Speaker 1: Oh thank you.

972
00:42:19,360 --> 00:42:21,279
Speaker 2: I'm still waiting for Bring a Trail at a roll

973
00:42:21,320 --> 00:42:22,879
Speaker 2: On and I don't.

974
00:42:23,160 --> 00:42:24,279
Speaker 1: And they did a billion.

975
00:42:24,040 --> 00:42:27,640
Speaker 2: Dollars in sales. I sold one hundred thousandth car.

976
00:42:27,800 --> 00:42:28,120
Speaker 1: Amazing.

977
00:42:28,400 --> 00:42:32,240
Speaker 2: They definitely need to uh but but this is something

978
00:42:33,200 --> 00:42:35,320
Speaker 2: you guys were Internet.

979
00:42:35,760 --> 00:42:36,480
Speaker 1: Although so were they?

980
00:42:36,800 --> 00:42:38,960
Speaker 2: Yeah right, didn't they start out as Yeah?

981
00:42:39,000 --> 00:42:41,120
Speaker 1: So I've known Randy who started Bring a Trailer for

982
00:42:41,280 --> 00:42:42,799
Speaker 1: ten plus years. We used to do a column called

983
00:42:42,800 --> 00:42:44,520
Speaker 1: bring a Loop that was very much inspired by Bring

984
00:42:44,600 --> 00:42:47,160
Speaker 1: a Trailer. Know those guys super well. I mean they've

985
00:42:47,239 --> 00:42:49,799
Speaker 1: done amazing things that abstoually sold to hurst in look

986
00:42:49,880 --> 00:42:52,520
Speaker 1: Covid and good on them. I mean they've they've got

987
00:42:52,520 --> 00:42:54,680
Speaker 1: a great thing going. I mean, they really you know,

988
00:42:54,760 --> 00:42:56,320
Speaker 1: we admire a lot about what they do. I know

989
00:42:56,360 --> 00:42:58,800
Speaker 1: that they admire a lot about what we do, but

990
00:42:58,880 --> 00:43:01,080
Speaker 1: they've been able to to really own the collectible car

991
00:43:01,160 --> 00:43:02,399
Speaker 1: category in an amazing way.

992
00:43:02,760 --> 00:43:06,400
Speaker 2: You guys talk about what you were doing during the pandemic.

993
00:43:06,480 --> 00:43:09,000
Speaker 2: I know a lot of people with streaming Netflix, bring

994
00:43:09,080 --> 00:43:12,799
Speaker 2: a trailer and ho dinky is what kept me occupied out?

995
00:43:13,840 --> 00:43:17,040
Speaker 2: Yeah yeah, and you know, to the detriment of my

996
00:43:17,120 --> 00:43:20,360
Speaker 2: bank account, but to the betterment of my wrist and garage.

997
00:43:20,800 --> 00:43:23,840
Speaker 2: So it was. And I mean I was into this

998
00:43:23,960 --> 00:43:27,120
Speaker 2: sort of stuff long before, but it's just amazing.

999
00:43:27,239 --> 00:43:28,920
Speaker 1: How gee, I'm not commuting.

1000
00:43:29,080 --> 00:43:33,440
Speaker 2: I'm getting so much work done from home in my pajamas, unshowered.

1001
00:43:33,760 --> 00:43:35,400
Speaker 2: We had a rule in our house you had a

1002
00:43:35,440 --> 00:43:38,320
Speaker 2: shower once a week, whether you need to or not.

1003
00:43:38,480 --> 00:43:40,960
Speaker 2: I mean, it was just you know, and occasionally get

1004
00:43:40,960 --> 00:43:43,680
Speaker 2: out of your pajamas. But it was just really easy

1005
00:43:43,719 --> 00:43:47,560
Speaker 2: to say, I'm done with everything, now let me wordle

1006
00:43:47,840 --> 00:43:50,600
Speaker 2: and then oh dinky, and then bring a trailer. It

1007
00:43:50,960 --> 00:43:54,480
Speaker 2: was it kept everybody entertaining, all right. So let's talk

1008
00:43:54,480 --> 00:43:59,040
Speaker 2: a little bit more about retailing. You launched the shop

1009
00:43:59,320 --> 00:44:03,040
Speaker 2: in twenty twelve. You're now doing one hundred million plus

1010
00:44:03,320 --> 00:44:06,480
Speaker 2: in revenue. Yep, congrats, that's a real number. It is.

1011
00:44:06,560 --> 00:44:08,920
Speaker 2: Thank you, But you guys are also expanding that you

1012
00:44:09,040 --> 00:44:11,200
Speaker 2: bought Crown and Caliber and tell us a little bit

1013
00:44:11,200 --> 00:44:13,759
Speaker 2: about the thinking of behind the purchase. Yeah.

1014
00:44:13,880 --> 00:44:17,200
Speaker 3: So twenty twelve, the first Shopify site was set up

1015
00:44:17,719 --> 00:44:20,160
Speaker 3: to sell some straps and related accessories. At the time,

1016
00:44:20,200 --> 00:44:22,000
Speaker 3: I think Ben and the team would would pop up

1017
00:44:22,000 --> 00:44:25,080
Speaker 3: at occasional you know men's men's wear flea markets things

1018
00:44:25,160 --> 00:44:28,040
Speaker 3: like that were always sort of like scrappy and you know,

1019
00:44:28,200 --> 00:44:31,240
Speaker 3: trying to connect you know, lovers of watches with products

1020
00:44:31,239 --> 00:44:33,920
Speaker 3: that they love. Limited editions, as Ben mentioned, was a

1021
00:44:33,960 --> 00:44:36,680
Speaker 3: big push towards the commercial side. That was around twenty fifteen.

1022
00:44:37,120 --> 00:44:39,479
Speaker 3: The first watches. The first one was was a Max

1023
00:44:39,560 --> 00:44:43,480
Speaker 3: buser Watch MBNF, so beautiful, beautiful, limited edition collection. And

1024
00:44:43,520 --> 00:44:45,839
Speaker 3: then it wasn't until twenty seventeen. And I say twenty

1025
00:44:45,880 --> 00:44:48,359
Speaker 3: seventeen I emphasized that because that's not that long ago

1026
00:44:48,760 --> 00:44:52,360
Speaker 3: that Hoodinky was the first online only authorized retailer of watches.

1027
00:44:52,400 --> 00:44:55,440
Speaker 3: So that, yeah, that reticence to kind of move online

1028
00:44:55,480 --> 00:44:58,120
Speaker 3: and really see online as a channel as a commercial channel.

1029
00:44:58,480 --> 00:45:00,719
Speaker 3: I mean that that that sort of ail wasn't pierced

1030
00:45:00,760 --> 00:45:05,120
Speaker 3: until twenty seventeens. And Hoodinky was really the trailblazer, launched

1031
00:45:05,200 --> 00:45:08,400
Speaker 3: with eight brands as authorized retail partners up and now

1032
00:45:08,440 --> 00:45:10,840
Speaker 3: we're up to about forty brands, so, you know, not

1033
00:45:11,040 --> 00:45:13,080
Speaker 3: a nice list of brands, it's a great list of brands.

1034
00:45:13,120 --> 00:45:14,719
Speaker 3: I mean, you know for some of them where they're

1035
00:45:14,840 --> 00:45:19,560
Speaker 3: only online authorized partners, so Arimez, Apple, Omega. You know,

1036
00:45:19,760 --> 00:45:22,400
Speaker 3: for those three brands, the only other retailer besides themselves

1037
00:45:22,440 --> 00:45:24,880
Speaker 3: who sells their watches as an online only channel is Hoodinky.

1038
00:45:25,400 --> 00:45:31,560
Speaker 2: But then Omega is probably second second substantial oh yeah,

1039
00:45:31,960 --> 00:45:35,799
Speaker 2: substantial watch elo with hundreds of models, it seems.

1040
00:45:35,520 --> 00:45:37,880
Speaker 1: Ye oh yeah. I'm look, they sponsor the Olympics, they

1041
00:45:37,920 --> 00:45:41,080
Speaker 1: sponsored James Bond. I mean this is a global, global brand. Yep.

1042
00:45:41,320 --> 00:45:43,600
Speaker 3: So, but at that point in time, Hoodinky is still

1043
00:45:43,800 --> 00:45:47,319
Speaker 3: new watches, limited edition projects, which you're not doing them

1044
00:45:47,360 --> 00:45:49,640
Speaker 3: every week or sometimes not even every month. We do

1045
00:45:49,719 --> 00:45:52,920
Speaker 3: about a dozen a year. Uh, And then vintage watches,

1046
00:45:52,960 --> 00:45:54,920
Speaker 3: which you know, there's always a market for collectors who

1047
00:45:54,960 --> 00:45:57,360
Speaker 3: want a vintage watch. Really a one of one define

1048
00:45:57,520 --> 00:46:01,480
Speaker 3: vintage typically defined US a watch that's before nineteen nineties.

1049
00:46:01,600 --> 00:46:03,000
Speaker 1: Okay, you know when.

1050
00:46:02,960 --> 00:46:06,719
Speaker 2: Did the modern US watches start showing up on hote King?

1051
00:46:06,800 --> 00:46:08,520
Speaker 1: When did you decide to do modern use?

1052
00:46:08,680 --> 00:46:10,799
Speaker 3: Yeah, so that would be the pre owned category as

1053
00:46:10,840 --> 00:46:12,880
Speaker 3: pre owned distinct from vintage, and that they're both pre

1054
00:46:12,960 --> 00:46:16,560
Speaker 3: owned technically, but vintage will be nineteen nineties and before, yeah,

1055
00:46:16,560 --> 00:46:18,480
Speaker 3: and pre owned would be you know again, a modern

1056
00:46:18,520 --> 00:46:21,080
Speaker 3: IT eighty could actually be a watch that someone else

1057
00:46:21,160 --> 00:46:24,080
Speaker 3: has just purchased and is flipping. They've never worn it.

1058
00:46:24,160 --> 00:46:24,719
Speaker 1: It's in its.

1059
00:46:24,640 --> 00:46:28,160
Speaker 3: Original box with original papers. That was with the purchase

1060
00:46:28,200 --> 00:46:30,040
Speaker 3: of Crown and Caliber, which was the business that we

1061
00:46:30,080 --> 00:46:32,799
Speaker 3: acquired that you mentioned. That was in February twenty twenty one.

1062
00:46:33,320 --> 00:46:35,800
Speaker 3: I think, you know, looking back as an outsider, I

1063
00:46:35,920 --> 00:46:37,359
Speaker 3: was not involved with the business at that time. An

1064
00:46:37,400 --> 00:46:40,719
Speaker 3: incredibly shrewd decision because basically online at this point, you

1065
00:46:40,840 --> 00:46:44,440
Speaker 3: still have very very few brands that have meaningfully moved

1066
00:46:44,560 --> 00:46:47,440
Speaker 3: their new watch sales online, some not at all. So

1067
00:46:47,600 --> 00:46:51,160
Speaker 3: Rolex doesn't sell online, ap doesn't sell online, Paddock doesn't

1068
00:46:51,239 --> 00:46:54,000
Speaker 3: sell online. Even authorized dealers of those watches are not

1069
00:46:54,120 --> 00:46:56,800
Speaker 3: allowed to sell the watches online. You can see the

1070
00:46:56,840 --> 00:46:59,360
Speaker 3: reference information. Then it will say visit a retailer, and

1071
00:46:59,400 --> 00:47:02,480
Speaker 3: then and a local retailer. The only way you can

1072
00:47:02,600 --> 00:47:04,799
Speaker 3: buy those watches online is to buy them pre owned

1073
00:47:04,920 --> 00:47:07,040
Speaker 3: and pre owned, which you know, as Ben mentioned earlier,

1074
00:47:07,600 --> 00:47:09,680
Speaker 3: used to be quite a wild West sort of shady

1075
00:47:09,840 --> 00:47:12,400
Speaker 3: business online certainly not something that you would kind of

1076
00:47:12,680 --> 00:47:16,000
Speaker 3: you wouldn't use catchwords like trust or authority or authenticity.

1077
00:47:16,560 --> 00:47:21,040
Speaker 3: It was really kind of buyer beware situations. The online channel,

1078
00:47:21,200 --> 00:47:23,480
Speaker 3: you know, really had a lot of opportunity to be

1079
00:47:23,600 --> 00:47:25,920
Speaker 3: cleaned up. And I would say that Crown and Caliber,

1080
00:47:26,000 --> 00:47:28,120
Speaker 3: a business that's been around now for a decade or so,

1081
00:47:28,640 --> 00:47:30,359
Speaker 3: is one of those business that was doing a very

1082
00:47:30,360 --> 00:47:32,759
Speaker 3: good job of playing the game in a clean way.

1083
00:47:33,480 --> 00:47:35,640
Speaker 3: They were buying the watches that they were selling, taking

1084
00:47:35,680 --> 00:47:38,040
Speaker 3: ownership of those watches, which I think says a lot

1085
00:47:38,120 --> 00:47:39,920
Speaker 3: because it means that they were willing to vouch for

1086
00:47:39,960 --> 00:47:42,719
Speaker 3: those watches in terms of their authenticity, the quality. They

1087
00:47:42,800 --> 00:47:45,800
Speaker 3: had invested in a true watch shop in Atlanta, Georgia,

1088
00:47:45,840 --> 00:47:48,279
Speaker 3: where the business was found in its base. So you have,

1089
00:47:48,480 --> 00:47:51,120
Speaker 3: you know, watchmakers who have graduated from the likes of

1090
00:47:51,200 --> 00:47:54,919
Speaker 3: the Rolex School watchmaking, the Reachmont Technical Center in Dallas,

1091
00:47:54,960 --> 00:47:58,600
Speaker 3: Texas to have real, real train skilled artisans that are

1092
00:47:58,680 --> 00:48:01,200
Speaker 3: able to repair and service walk to make sure that

1093
00:48:01,239 --> 00:48:03,600
Speaker 3: when those watches are being sold to the next owner

1094
00:48:03,719 --> 00:48:05,920
Speaker 3: that they're in as good a condition as that when

1095
00:48:05,920 --> 00:48:10,360
Speaker 3: they were originally sold. That Basically, the acquisition by Hoodinky

1096
00:48:10,360 --> 00:48:12,959
Speaker 3: allowed Hoodinky you kind of fast forward its way into

1097
00:48:13,080 --> 00:48:15,680
Speaker 3: being a player in the pre on space, which is

1098
00:48:16,080 --> 00:48:18,960
Speaker 3: a larger market than the new watch market online about

1099
00:48:19,000 --> 00:48:21,839
Speaker 3: thirty percent of pre on watches are sold online versus

1100
00:48:21,920 --> 00:48:23,960
Speaker 3: only about five percent of new watches that are sold.

1101
00:48:24,000 --> 00:48:27,239
Speaker 2: Thirty percent. That's an amazing statistic. I never would have

1102
00:48:27,280 --> 00:48:32,920
Speaker 2: guessed it was that large. You mentioned authenticity there. There

1103
00:48:33,040 --> 00:48:35,960
Speaker 2: are lots of replicas out there. What do you guys

1104
00:48:36,040 --> 00:48:40,200
Speaker 2: make of the super replicas that without a loop? Certainly

1105
00:48:40,320 --> 00:48:44,279
Speaker 2: from a risk distance, it's hard to tell. Like in

1106
00:48:44,320 --> 00:48:47,120
Speaker 2: the old days, you would see a fake Rolex Chinatown,

1107
00:48:47,200 --> 00:48:48,239
Speaker 2: twenty five bucks.

1108
00:48:48,040 --> 00:48:49,239
Speaker 1: With a ticking secondary right.

1109
00:48:49,160 --> 00:48:53,120
Speaker 2: Exactly, Yeah, no sweep and it would jingle and you

1110
00:48:53,160 --> 00:48:55,000
Speaker 2: know its the best twenty five bucks you could spend

1111
00:48:55,040 --> 00:48:58,759
Speaker 2: in the world. Watches and kept pretty good time today,

1112
00:49:00,160 --> 00:49:03,880
Speaker 2: pretty impressive, yeah, now, and they're pre sophisticated counterfeit pieces

1113
00:49:03,920 --> 00:49:06,400
Speaker 2: out there China mostly right, Some that you know, go

1114
00:49:06,560 --> 00:49:10,000
Speaker 2: so far as to include all like manufacture original parts

1115
00:49:10,120 --> 00:49:11,799
Speaker 2: on the outside of the watch. And it's only when

1116
00:49:11,840 --> 00:49:14,239
Speaker 2: you get inside into the movement that you understand that

1117
00:49:14,320 --> 00:49:16,719
Speaker 2: the movement has some parts or the original movement has

1118
00:49:16,760 --> 00:49:19,360
Speaker 2: been swapped out. You're telling me Rolux doesn't come with

1119
00:49:19,480 --> 00:49:21,200
Speaker 2: a twelve dollars Chinese.

1120
00:49:22,040 --> 00:49:22,920
Speaker 1: They don't don't do that.

1121
00:49:23,120 --> 00:49:24,560
Speaker 3: No, No, that's not the case that.

1122
00:49:24,719 --> 00:49:27,680
Speaker 2: By the way, the new transparent case back on the Daytona.

1123
00:49:28,600 --> 00:49:31,120
Speaker 2: Is this something that we're going to start to see

1124
00:49:31,200 --> 00:49:35,960
Speaker 2: more of as an anti counterfeit or that just happens.

1125
00:49:35,640 --> 00:49:38,440
Speaker 1: To be a pretty titanium watch. My my guess. Look,

1126
00:49:38,480 --> 00:49:39,800
Speaker 1: I don't know it all, to be clear, and I

1127
00:49:39,840 --> 00:49:41,640
Speaker 1: really mean that, I don't think that has anything to

1128
00:49:41,680 --> 00:49:43,800
Speaker 1: do with anti counterfeit, and I think it's more celebratory

1129
00:49:43,840 --> 00:49:45,560
Speaker 1: and they want to show off the new movement, et cetera.

1130
00:49:45,600 --> 00:49:48,000
Speaker 1: And to be clear, it's only in the platinum Daytona.

1131
00:49:47,719 --> 00:49:50,480
Speaker 2: Which, even which is unfortunate. The one of the nice

1132
00:49:50,480 --> 00:49:53,080
Speaker 2: things about Langa is every one of their watches has

1133
00:49:53,120 --> 00:49:55,719
Speaker 2: a display case back, which is quite This is.

1134
00:49:55,760 --> 00:49:58,200
Speaker 1: Really one of the I mean look, every not ivy Omega,

1135
00:49:58,239 --> 00:50:02,320
Speaker 1: but a lot. I mean, so does scant Acos. I

1136
00:50:02,360 --> 00:50:04,560
Speaker 1: mean it's it's it is uncommon for a high end

1137
00:50:04,560 --> 00:50:07,560
Speaker 1: watchman to not today, but it wasn't always the case. Sure,

1138
00:50:07,880 --> 00:50:08,600
Speaker 1: yeah right yeah.

1139
00:50:08,920 --> 00:50:12,200
Speaker 2: So so how big of an issue are these super counterfeits?

1140
00:50:12,400 --> 00:50:14,960
Speaker 3: I mean, for us, they're not a major issue. And

1141
00:50:15,120 --> 00:50:17,440
Speaker 3: that's again down to the fact that we've had we

1142
00:50:17,560 --> 00:50:19,480
Speaker 3: have an investment in people that are able to sort

1143
00:50:19,480 --> 00:50:21,520
Speaker 3: of sess them out. And that's even before we get

1144
00:50:21,560 --> 00:50:24,080
Speaker 3: them in our possession. We have pretty good you know tracker.

1145
00:50:23,920 --> 00:50:26,520
Speaker 2: You can eyebowl something on it just a photo. Some

1146
00:50:26,600 --> 00:50:30,080
Speaker 2: of the sock ex selling Sneakers has a counterfeit division, yeah,

1147
00:50:30,080 --> 00:50:32,279
Speaker 2: because they were getting so many fake nikes coming in.

1148
00:50:33,080 --> 00:50:35,120
Speaker 1: We we have a staff of authenticated yeah, truly. And

1149
00:50:35,200 --> 00:50:36,920
Speaker 1: then the benefit of us being us is we have

1150
00:50:37,160 --> 00:50:39,759
Speaker 1: direct relationships with brands and we can say, hey, bright

1151
00:50:39,840 --> 00:50:42,400
Speaker 1: Ley and grand Seiko, whoever was this watch born with

1152
00:50:42,480 --> 00:50:44,359
Speaker 1: a black dial or blue? We can track the serial

1153
00:50:44,480 --> 00:50:47,600
Speaker 1: number two and not not many people on the pre

1154
00:50:47,680 --> 00:50:49,320
Speaker 1: own side can do that. And as Jeff said, I

1155
00:50:49,360 --> 00:50:51,440
Speaker 1: think you know much credit to Hamilton Powell, who's the

1156
00:50:51,480 --> 00:50:53,799
Speaker 1: founder of Credit Caliber the business that that we now

1157
00:50:53,920 --> 00:50:56,239
Speaker 1: that we now own. You know, he really wanted to

1158
00:50:56,320 --> 00:50:58,840
Speaker 1: do stuff that is like, buying a watch is one thing,

1159
00:50:58,880 --> 00:51:00,719
Speaker 1: but selling a watch is actually brutal. And if you've

1160
00:51:00,719 --> 00:51:02,439
Speaker 1: ever tried to sell a watch, which doesn't really sound

1161
00:51:02,480 --> 00:51:04,799
Speaker 1: like you have, it's awful. And so if you want

1162
00:51:04,880 --> 00:51:06,640
Speaker 1: to do it, either go to Corona twenty four and

1163
00:51:06,719 --> 00:51:08,560
Speaker 1: it may never sell. You go to auction. They're gonna

1164
00:51:08,560 --> 00:51:11,440
Speaker 1: take twenty percent. With crownic Caliber and now Hoodinky, we're

1165
00:51:11,440 --> 00:51:13,200
Speaker 1: gonna tell you what we're gonna pay then and there

1166
00:51:13,239 --> 00:51:14,520
Speaker 1: you're gonna send in the watch. We're gonna send you

1167
00:51:14,520 --> 00:51:14,799
Speaker 1: a check.

1168
00:51:14,840 --> 00:51:15,080
Speaker 2: That's it.

1169
00:51:15,200 --> 00:51:15,560
Speaker 1: You're done.

1170
00:51:15,719 --> 00:51:17,800
Speaker 2: So I tell I'll tell you that sounds like a

1171
00:51:17,840 --> 00:51:20,320
Speaker 2: lot of fun. So you take them on consigned, we

1172
00:51:20,400 --> 00:51:22,040
Speaker 2: owne that you buy that we're cutting your check.

1173
00:51:22,160 --> 00:51:24,960
Speaker 1: Yeah, no kidding. So one of the few I.

1174
00:51:24,960 --> 00:51:27,200
Speaker 2: Didn't realize that think it's big. That's a big difference.

1175
00:51:27,320 --> 00:51:29,600
Speaker 3: Instant quoting about eighty percent of the watches as well.

1176
00:51:29,640 --> 00:51:32,400
Speaker 3: So again you go on to Crowncaliber dot com, Hoodinky

1177
00:51:32,440 --> 00:51:34,960
Speaker 3: dot com. You type in the reference number, some information

1178
00:51:35,080 --> 00:51:37,800
Speaker 3: Rolex Batman, etcetera, ask a couple of clarifying questions you

1179
00:51:37,840 --> 00:51:39,680
Speaker 3: get a quote right then and there, and if you

1180
00:51:39,840 --> 00:51:42,239
Speaker 3: like that quote, you send the watch in. We authenticate,

1181
00:51:42,560 --> 00:51:44,640
Speaker 3: inspect that, make sure that it is as it was described,

1182
00:51:44,840 --> 00:51:45,440
Speaker 3: send you a check.

1183
00:51:45,480 --> 00:51:47,879
Speaker 1: You'll have a check right away. So my brother has

1184
00:51:47,920 --> 00:51:48,759
Speaker 1: a Vacheron.

1185
00:51:50,040 --> 00:51:54,320
Speaker 2: I forgot the model. It's one of their more globe

1186
00:51:54,440 --> 00:51:56,200
Speaker 2: trot or something popular.

1187
00:51:56,280 --> 00:51:59,200
Speaker 1: Overseas, overseas, overseas, but they came.

1188
00:51:59,040 --> 00:52:01,319
Speaker 2: Out with a black dot and he has a blue dial,

1189
00:52:01,360 --> 00:52:03,279
Speaker 2: and I've never seen a blue dial else.

1190
00:52:03,520 --> 00:52:06,520
Speaker 3: That's a classic fashionround color. That blue dial is gorgeous.

1191
00:52:06,600 --> 00:52:07,959
Speaker 1: And very deep.

1192
00:52:08,160 --> 00:52:11,280
Speaker 2: I literally have never seen that anywhere else in blue.

1193
00:52:12,000 --> 00:52:13,840
Speaker 2: I'm gonna send him over to you guys, because he

1194
00:52:14,040 --> 00:52:17,840
Speaker 2: wants to sell it, and I had no idea you

1195
00:52:17,920 --> 00:52:20,960
Speaker 2: guys would would cut a check like that. So we're

1196
00:52:21,000 --> 00:52:23,600
Speaker 2: talking about online retailing, but I'm gonna throw one of

1197
00:52:23,760 --> 00:52:27,319
Speaker 2: your quotes back at you, which is physical retail will

1198
00:52:27,360 --> 00:52:29,719
Speaker 2: always have a home in luxury and watches. Of course,

1199
00:52:29,880 --> 00:52:34,640
Speaker 2: I think in everything, in everything, So sometimes like one

1200
00:52:34,680 --> 00:52:37,239
Speaker 2: of the things I like about the yacht Master is

1201
00:52:37,760 --> 00:52:40,960
Speaker 2: it has a hef You feel it. Yeah, when I

1202
00:52:41,800 --> 00:52:43,880
Speaker 2: Baltic makes some nice watches, you put him on your

1203
00:52:43,880 --> 00:52:48,320
Speaker 2: wrist you're unaware you're wearing. And even this has a

1204
00:52:48,360 --> 00:52:51,399
Speaker 2: little bit of a half which is mostly the pink gold.

1205
00:52:51,480 --> 00:52:55,959
Speaker 2: But you know, how easily can you buy a watch

1206
00:52:56,040 --> 00:52:57,760
Speaker 2: that you've never had on before?

1207
00:52:58,239 --> 00:53:00,200
Speaker 1: Pretty easily. We do about one hundred million dollars year

1208
00:53:00,239 --> 00:53:03,080
Speaker 1: worth of it. Yeah, okay, so let me rephrase that.

1209
00:53:03,400 --> 00:53:07,879
Speaker 1: How how comfortable can so if you know what you want? Right?

1210
00:53:08,239 --> 00:53:11,040
Speaker 2: So? The Moser tor me on in vans of black

1211
00:53:11,560 --> 00:53:13,759
Speaker 2: kind of an interesting watch. I've had it on in

1212
00:53:13,880 --> 00:53:17,080
Speaker 2: the in the ice blue and the dark blue. I'm

1213
00:53:17,160 --> 00:53:19,000
Speaker 2: not sure which way I would pull the trigger in that,

1214
00:53:19,360 --> 00:53:21,400
Speaker 2: but I've worn it and I'm like, Okay.

1215
00:53:21,239 --> 00:53:22,640
Speaker 1: I'm comfortable with this watch.

1216
00:53:23,000 --> 00:53:26,520
Speaker 2: But if I've never tried a watch on before that

1217
00:53:26,920 --> 00:53:31,200
Speaker 2: the new ice blue Daytona with the brown bezel, if

1218
00:53:31,200 --> 00:53:34,680
Speaker 2: you're going to drop, you know again an S class

1219
00:53:34,760 --> 00:53:37,840
Speaker 2: on your wrist. Can you do that online or do

1220
00:53:37,960 --> 00:53:40,200
Speaker 2: you want to go in and experience it?

1221
00:53:40,360 --> 00:53:43,000
Speaker 1: Well, everyone's different for sure. To be clear, Rolex doesn't

1222
00:53:43,000 --> 00:53:45,320
Speaker 1: sell online anywhere with anybody, not not with us, not

1223
00:53:45,440 --> 00:53:48,120
Speaker 1: with not even themselves. So no Rolex New can you

1224
00:53:48,160 --> 00:53:48,680
Speaker 1: buy online?

1225
00:53:48,760 --> 00:53:49,200
Speaker 3: Just right here?

1226
00:53:49,480 --> 00:53:51,399
Speaker 1: But like, let's use a brand that that we sell

1227
00:53:51,440 --> 00:53:53,719
Speaker 1: because this happens every day. A brand new Omega speed Master,

1228
00:53:53,800 --> 00:53:55,640
Speaker 1: which is about a seven thousand dollars watch that fire

1229
00:53:55,719 --> 00:53:58,879
Speaker 1: case back, great manly wound, iconic thing. We sell those

1230
00:53:58,960 --> 00:54:01,200
Speaker 1: all day long, and if people don't like it, they

1231
00:54:01,280 --> 00:54:02,719
Speaker 1: can return it, right and so.

1232
00:54:02,920 --> 00:54:05,080
Speaker 2: Thirty days so longly you give them to Yeah, I

1233
00:54:05,120 --> 00:54:06,240
Speaker 2: think it's fourteen days.

1234
00:54:06,680 --> 00:54:09,600
Speaker 1: Two weeks. You know, we can't like I've been wearing

1235
00:54:09,600 --> 00:54:11,480
Speaker 1: it around. You try it on. If it's not for you,

1236
00:54:11,600 --> 00:54:13,360
Speaker 1: you send the book. I think you know what we

1237
00:54:13,520 --> 00:54:15,840
Speaker 1: did with with the Hodinky Shop in twenty seventeen, we

1238
00:54:15,920 --> 00:54:17,759
Speaker 1: took I look, the brands that I hold in high

1239
00:54:17,760 --> 00:54:18,279
Speaker 1: regard are no.

1240
00:54:18,360 --> 00:54:20,520
Speaker 2: Surprises, and they're not unique to me. It's it's Apple,

1241
00:54:20,560 --> 00:54:23,120
Speaker 2: it's Nike. I mean, I wear air Maxes almost every day.

1242
00:54:23,120 --> 00:54:24,799
Speaker 2: If I if I like the air Maxes.

1243
00:54:24,440 --> 00:54:25,560
Speaker 1: I get those are good ones.

1244
00:54:26,960 --> 00:54:27,120
Speaker 2: You know.

1245
00:54:27,280 --> 00:54:28,840
Speaker 1: If I like the air Maxes that come in the

1246
00:54:28,880 --> 00:54:30,440
Speaker 1: mail to me, I keep them. If I don't, I

1247
00:54:30,520 --> 00:54:32,080
Speaker 1: send them back. I got my I got a refund

1248
00:54:32,120 --> 00:54:33,800
Speaker 1: in three days or five days. And that's fine. And

1249
00:54:33,920 --> 00:54:37,080
Speaker 1: so taking these very normal twenty fourst century e commerce

1250
00:54:37,160 --> 00:54:40,440
Speaker 1: practices and applying them to watches is not that crazy,

1251
00:54:40,719 --> 00:54:42,759
Speaker 1: but we were the first and still we remain one

1252
00:54:42,800 --> 00:54:44,360
Speaker 1: of the few who does it far fetch does it?

1253
00:54:44,400 --> 00:54:46,279
Speaker 1: Mister porter does it? Great etailers like that.

1254
00:54:46,440 --> 00:54:49,080
Speaker 2: You're you're out of far fetched. How did that experience

1255
00:54:49,800 --> 00:54:50,840
Speaker 2: translates to Hodenky.

1256
00:54:50,960 --> 00:54:54,080
Speaker 3: Yeah, it's interesting because I talked earlier about when I

1257
00:54:54,160 --> 00:54:57,640
Speaker 3: first encountered Hodinky. And you know, sometimes if you if

1258
00:54:57,680 --> 00:54:59,600
Speaker 3: you go away from a thing and you don't go

1259
00:54:59,680 --> 00:55:01,359
Speaker 3: back to for a while, and that was the case

1260
00:55:01,400 --> 00:55:03,520
Speaker 3: for me. I was really busy with my career. My

1261
00:55:03,640 --> 00:55:05,720
Speaker 3: wife and I were having three boys in three years,

1262
00:55:05,800 --> 00:55:08,960
Speaker 3: so we were pretty busy. I hadn't paid super close

1263
00:55:08,960 --> 00:55:10,839
Speaker 3: attention to everything that was going on in the world

1264
00:55:10,880 --> 00:55:13,280
Speaker 3: of hood Inky until it was contacted by a recruiter,

1265
00:55:13,360 --> 00:55:16,360
Speaker 3: until I got a chance to meet Ben, and I couldn't.

1266
00:55:16,360 --> 00:55:18,279
Speaker 3: I just couldn't believe how much had evolved at the

1267
00:55:18,320 --> 00:55:20,279
Speaker 3: business because in my mind it was still, yeah, the

1268
00:55:20,480 --> 00:55:23,920
Speaker 3: pre eminent watch blog, but I had no idea watch blog,

1269
00:55:24,000 --> 00:55:27,120
Speaker 3: yeah retail exactly, all the retail like, the way that

1270
00:55:27,200 --> 00:55:29,480
Speaker 3: the business set of all was enormous. Me the fact

1271
00:55:29,480 --> 00:55:31,560
Speaker 3: that it had launched its own insurance product, I mean,

1272
00:55:31,600 --> 00:55:34,239
Speaker 3: it was incredible and sort of I think what I

1273
00:55:34,400 --> 00:55:36,920
Speaker 3: saw was I had just spent almost six years at

1274
00:55:36,960 --> 00:55:40,400
Speaker 3: far Fetch starting when you know, the primary business of

1275
00:55:40,440 --> 00:55:43,879
Speaker 3: Farfetch was then and remains a marketplace, but so much

1276
00:55:43,920 --> 00:55:46,120
Speaker 3: it evolved at Farfetch as well. I mean, we had

1277
00:55:47,280 --> 00:55:49,759
Speaker 3: launched a platform services business which was taking all of

1278
00:55:49,840 --> 00:55:52,600
Speaker 3: the core technology and making it available for other retailers

1279
00:55:52,640 --> 00:55:55,640
Speaker 3: like Herod's and the likes. We had acquired a few businesses.

1280
00:55:55,719 --> 00:55:58,160
Speaker 3: I was involved in the acquisition of Stadium Goods, a

1281
00:55:58,239 --> 00:56:01,040
Speaker 3: pre owned sneaker marketplace. So just seeing kind of how

1282
00:56:01,080 --> 00:56:03,800
Speaker 3: that business has grown and evolved and I've kind of

1283
00:56:03,840 --> 00:56:06,120
Speaker 3: grown up in my career with it. I saw a

1284
00:56:06,160 --> 00:56:08,600
Speaker 3: lot of similarities with hodigiva'm on. It's a foundation of

1285
00:56:08,800 --> 00:56:11,759
Speaker 3: things that were there that one of our investors likes

1286
00:56:11,800 --> 00:56:13,440
Speaker 3: to say, are they close to maturity or are they

1287
00:56:13,560 --> 00:56:16,880
Speaker 3: like ten percent? And I'd say lovingly, they're closer to

1288
00:56:17,000 --> 00:56:19,560
Speaker 3: like ten percent, meaning like there's so much upside, there's

1289
00:56:19,640 --> 00:56:22,319
Speaker 3: so much still growth and evolution in front of us

1290
00:56:22,400 --> 00:56:24,520
Speaker 3: and in different ways that we can kind of push

1291
00:56:24,560 --> 00:56:27,840
Speaker 3: this business forward. And just being able to work alongside

1292
00:56:27,880 --> 00:56:29,960
Speaker 3: Ben as a founder of somebody who's who's I think

1293
00:56:30,160 --> 00:56:32,800
Speaker 3: truly one of the most influential people in this industry

1294
00:56:33,800 --> 00:56:36,360
Speaker 3: just was like an opportunity. I simply I would I

1295
00:56:36,400 --> 00:56:38,920
Speaker 3: would have never forgiven myself if I didn't go for it.

1296
00:56:39,280 --> 00:56:41,520
Speaker 3: Someonelmost told me that's the kind of sign of an entrepreneur.

1297
00:56:41,560 --> 00:56:43,680
Speaker 3: I've never been an entrepreneur to start my own business,

1298
00:56:43,719 --> 00:56:44,960
Speaker 3: but I had that feeling.

1299
00:56:45,480 --> 00:56:47,680
Speaker 2: You've worked at companies that are I don't want to

1300
00:56:47,680 --> 00:56:51,000
Speaker 2: call them startups, but not that you know, there's a

1301
00:56:51,080 --> 00:56:55,640
Speaker 2: difference between joining Amazon and eBay today and joining h Sure,

1302
00:56:55,800 --> 00:56:58,359
Speaker 2: joining eBay when it's two years old, and people like, hey,

1303
00:56:58,440 --> 00:57:00,080
Speaker 2: we don't know if this is gonna be Yeah, I

1304
00:57:00,480 --> 00:57:02,759
Speaker 2: think I'm probably the guy right behind the guy with

1305
00:57:02,840 --> 00:57:03,760
Speaker 2: the machete.

1306
00:57:03,440 --> 00:57:04,719
Speaker 1: Blazing a trail to the jump.

1307
00:57:05,040 --> 00:57:07,359
Speaker 3: I'm with him, but you know, he's got the He's

1308
00:57:07,400 --> 00:57:09,480
Speaker 3: the one who's been there instead of taken that sort

1309
00:57:09,480 --> 00:57:13,040
Speaker 3: of initial leap of faith. I mean, it's one thing

1310
00:57:13,120 --> 00:57:14,640
Speaker 3: that I think you always just have to like never

1311
00:57:14,760 --> 00:57:16,840
Speaker 3: take for granted in a business like Hudinki. And I

1312
00:57:16,840 --> 00:57:18,600
Speaker 3: think Ben did a good job with this very recently

1313
00:57:18,640 --> 00:57:21,320
Speaker 3: for an internal meeting, was just reminding people that this

1314
00:57:21,520 --> 00:57:24,080
Speaker 3: thing wasn't always a given, you know, And he went

1315
00:57:24,160 --> 00:57:26,720
Speaker 3: back to his original email inbox from two thousand and eight,

1316
00:57:27,040 --> 00:57:29,160
Speaker 3: to the first emails he sent from his inbox, and

1317
00:57:29,240 --> 00:57:31,240
Speaker 3: they weren't to collegues. They were to his family members.

1318
00:57:31,280 --> 00:57:33,040
Speaker 3: It's like, can you guys believe I'm getting paid to

1319
00:57:33,120 --> 00:57:33,400
Speaker 3: do this?

1320
00:57:34,040 --> 00:57:37,240
Speaker 1: Send five dollars? Truly, So Jeff's referring to a post

1321
00:57:37,320 --> 00:57:38,880
Speaker 1: that I was writing about watches. I was being paid

1322
00:57:38,920 --> 00:57:40,840
Speaker 1: seventy five dollars a post, truly.

1323
00:57:40,920 --> 00:57:43,640
Speaker 3: Then the first advertising contract, which was twelve months run

1324
00:57:43,720 --> 00:57:46,480
Speaker 3: of sight for a price that today might get you

1325
00:57:46,600 --> 00:57:50,760
Speaker 3: a day, it was twelve hundred dollars for the year.

1326
00:57:51,080 --> 00:57:54,720
Speaker 3: So those things, now you know that that's fifteen years ago.

1327
00:57:54,760 --> 00:57:56,680
Speaker 3: And again remember that the first part of the first

1328
00:57:56,760 --> 00:57:59,760
Speaker 3: decade of those fifteen years largely was spent just developing

1329
00:57:59,800 --> 00:58:03,360
Speaker 3: the most important editorial presence for the world of watches.

1330
00:58:03,760 --> 00:58:05,560
Speaker 3: I mean, I still think it is a startup, but

1331
00:58:05,600 --> 00:58:07,640
Speaker 3: it's a startup where there's again there's a trail that's

1332
00:58:07,680 --> 00:58:09,560
Speaker 3: been blazed. My role, the way I see it is

1333
00:58:09,880 --> 00:58:12,200
Speaker 3: really just to kind of, like I suppose, increase the

1334
00:58:12,200 --> 00:58:14,960
Speaker 3: speed and certainty of execution and really help it scale

1335
00:58:15,040 --> 00:58:17,840
Speaker 3: and build and sort to help us realize what we

1336
00:58:17,960 --> 00:58:19,880
Speaker 3: think is our fullest potential as a business.

1337
00:58:20,240 --> 00:58:24,000
Speaker 2: So let's stay with retail. I was going to ask

1338
00:58:24,080 --> 00:58:28,040
Speaker 2: you who your competitors are, but really, in terms of

1339
00:58:28,200 --> 00:58:31,920
Speaker 2: new nobody else is really selling very much online. Yeah. Look,

1340
00:58:31,960 --> 00:58:34,360
Speaker 2: I mean a handful of micro brands, but sure none

1341
00:58:34,360 --> 00:58:35,919
Speaker 2: of the bigs are selling to the level.

1342
00:58:36,400 --> 00:58:38,280
Speaker 1: Yeah, I mean, look there are a lot of and look,

1343
00:58:38,440 --> 00:58:40,600
Speaker 1: it's funny you say competitors like these are all our friends,

1344
00:58:40,640 --> 00:58:42,240
Speaker 1: Like we get coffees with them all the time. Watches

1345
00:58:42,240 --> 00:58:44,560
Speaker 1: in Switzerland and Torneo Booker, like these are great world

1346
00:58:44,600 --> 00:58:46,560
Speaker 1: class retailers. We have a lot like they do stuff

1347
00:58:46,560 --> 00:58:47,720
Speaker 1: that we can never do, and I think we do

1348
00:58:47,760 --> 00:58:50,160
Speaker 1: stuff that they could never do, you know, but there's

1349
00:58:50,200 --> 00:58:52,360
Speaker 1: nobody that competes with us directly in everything we do,

1350
00:58:52,440 --> 00:58:55,080
Speaker 1: and I think that's what makes us so so special. Frankly,

1351
00:58:55,160 --> 00:58:57,160
Speaker 1: Like this is a truly unique business, a piece unique,

1352
00:58:57,160 --> 00:58:59,280
Speaker 1: if you will. And you know, so many times over

1353
00:58:59,280 --> 00:59:02,080
Speaker 1: the years people said, was Houdinki the Warby Parker of watches?

1354
00:59:02,120 --> 00:59:04,480
Speaker 1: Which is not is it the Glossier of watches? It's

1355
00:59:04,480 --> 00:59:06,840
Speaker 1: none of that. It's something else entirely. And I think

1356
00:59:06,920 --> 00:59:08,720
Speaker 1: what the ambition is here is to become kind of

1357
00:59:08,760 --> 00:59:12,120
Speaker 1: really the global global leader of watches content and commerce,

1358
00:59:12,160 --> 00:59:14,200
Speaker 1: and like really b watches through six do we want

1359
00:59:14,240 --> 00:59:15,920
Speaker 1: to ensure your watches, we want to help you buy

1360
00:59:16,000 --> 00:59:17,920
Speaker 1: and sell them. We want to sell you straps. We

1361
00:59:18,000 --> 00:59:21,000
Speaker 1: want everything to exist in watches on Houdinki and we're

1362
00:59:21,040 --> 00:59:23,040
Speaker 1: getting there. And I think that's what's so exciting about it.

1363
00:59:23,360 --> 00:59:26,240
Speaker 1: And I think to Jeff's point, like I view really

1364
00:59:26,320 --> 00:59:27,920
Speaker 1: all brands as one or two things. Are either a

1365
00:59:28,000 --> 00:59:30,000
Speaker 1: challenger or you're an incumbent, right, And I think like

1366
00:59:30,000 --> 00:59:32,200
Speaker 1: a Torea, which is an amazing business, and one I've

1367
00:59:32,200 --> 00:59:33,680
Speaker 1: got a lot of love for it, like they're inn

1368
00:59:33,680 --> 00:59:35,960
Speaker 1: incumbent business. They've been around forever that they're now owned

1369
00:59:35,960 --> 00:59:39,000
Speaker 1: by Booker. We to some people are probably an incumbent,

1370
00:59:39,080 --> 00:59:40,960
Speaker 1: but we're not like this, as Jeff said this, I

1371
00:59:41,040 --> 00:59:43,360
Speaker 1: came from nothing. This business came from nothing. And the

1372
00:59:43,440 --> 00:59:45,520
Speaker 1: way that we view everything we do is from the

1373
00:59:45,600 --> 00:59:47,439
Speaker 1: mind of a challenger. We want to continue to push

1374
00:59:47,480 --> 00:59:48,640
Speaker 1: and continue to change things.

1375
00:59:49,120 --> 00:59:52,040
Speaker 2: Keep in mind the Internet runs in dog years, so

1376
00:59:52,200 --> 00:59:55,800
Speaker 2: you're an incumbent on the Internet. But when you look

1377
00:59:55,840 --> 00:59:57,600
Speaker 2: at some of the watch brands that have been around

1378
00:59:57,680 --> 01:00:01,760
Speaker 2: since the seventeenth century, eighteenth century, seventeen fifty five older

1379
01:00:01,800 --> 01:00:06,040
Speaker 2: than the country. Right, it's just absolutely so. So two

1380
01:00:06,160 --> 01:00:09,920
Speaker 2: thousand and eight, two thousand and nine young business in

1381
01:00:10,040 --> 01:00:11,880
Speaker 2: the internet, sort of middle aged.

1382
01:00:12,000 --> 01:00:13,680
Speaker 1: Yeah, and I want to be clear, like I so

1383
01:00:14,000 --> 01:00:16,280
Speaker 1: the business was an immediate platform with a little bit

1384
01:00:16,360 --> 01:00:19,480
Speaker 1: e commerce that was basically three people until twenty fifteen.

1385
01:00:19,600 --> 01:00:21,560
Speaker 1: Then we raised our first venture capital. We were probably

1386
01:00:21,600 --> 01:00:23,200
Speaker 1: ten twenty people, and now we're one hundred and thirty

1387
01:00:23,280 --> 01:00:24,760
Speaker 1: hundred and forty. So it's big or now that's a

1388
01:00:24,800 --> 01:00:26,800
Speaker 1: real business. It's a real business. But we're still not

1389
01:00:27,240 --> 01:00:29,360
Speaker 1: or know, we're still not Bloomberg. We're still not you know,

1390
01:00:29,480 --> 01:00:31,520
Speaker 1: something like that that is ubiquitous in a great way

1391
01:00:32,160 --> 01:00:36,120
Speaker 1: and really has the the kind of the certainty of

1392
01:00:36,200 --> 01:00:38,360
Speaker 1: its future. Like we want to to continue to push

1393
01:00:38,440 --> 01:00:41,120
Speaker 1: and challenge what the luxury watch industry and what all

1394
01:00:41,240 --> 01:00:43,520
Speaker 1: industries kind of think of when they think of retailers.

1395
01:00:43,840 --> 01:00:45,800
Speaker 1: We are a retailer. We are immedia platform. We're a

1396
01:00:45,840 --> 01:00:48,760
Speaker 1: community platform, we host events. We're an insurance product. We

1397
01:00:48,840 --> 01:00:50,960
Speaker 1: are a strapwear brand. We make things that say hood

1398
01:00:50,960 --> 01:00:53,200
Speaker 1: Inky on them. We are all these things and that's

1399
01:00:53,240 --> 01:00:53,720
Speaker 1: exciting to me.

1400
01:00:53,880 --> 01:00:56,440
Speaker 2: A couple more questions about retail before we move on,

1401
01:00:57,320 --> 01:01:00,200
Speaker 2: got to ask about Rolex getting into the certified your

1402
01:01:00,240 --> 01:01:03,160
Speaker 2: own business. What's that about? Where do you think that goes?

1403
01:01:03,800 --> 01:01:06,640
Speaker 3: I sort of use the analogy of like the world

1404
01:01:06,680 --> 01:01:09,000
Speaker 3: of automotive we talked about cars earlier. I mean, for me,

1405
01:01:09,120 --> 01:01:11,800
Speaker 3: it would be almost like impossible to think of a

1406
01:01:11,880 --> 01:01:15,640
Speaker 3: world where, you know, BMWU or Mercedes didn't offer a

1407
01:01:15,720 --> 01:01:19,200
Speaker 3: certified pren program under their own brand, under their own market.

1408
01:01:19,240 --> 01:01:22,200
Speaker 2: But let's break that take that apart a second. You

1409
01:01:22,400 --> 01:01:25,400
Speaker 2: go and buy you want to buy a used car,

1410
01:01:25,600 --> 01:01:30,280
Speaker 2: but you like the advantage of having the manufacturer tell

1411
01:01:30,280 --> 01:01:31,800
Speaker 2: you the cars in good shape and they're going to

1412
01:01:31,840 --> 01:01:34,800
Speaker 2: warranty it for you know, another three years and fifty

1413
01:01:34,840 --> 01:01:37,240
Speaker 2: thousand miles, so you're going to pay a little bit

1414
01:01:37,280 --> 01:01:40,000
Speaker 2: of a premium to pick up, especially if you're looking

1415
01:01:40,000 --> 01:01:43,440
Speaker 2: at an expensive car or complicated, you know, any of

1416
01:01:43,480 --> 01:01:45,680
Speaker 2: the more sophisticated vehicles out there. It's nice to have

1417
01:01:45,840 --> 01:01:50,120
Speaker 2: that backdrop when you're going out and buying a GMT

1418
01:01:50,440 --> 01:01:54,080
Speaker 2: from Rolex. Do you what does CPO do for you

1419
01:01:54,880 --> 01:01:59,400
Speaker 2: other than tell you have Rolex tell you we looked

1420
01:01:59,440 --> 01:02:01,240
Speaker 2: at this wat we cleaned it up here.

1421
01:02:01,560 --> 01:02:04,120
Speaker 3: I think for some people that's worth the premium, and

1422
01:02:04,480 --> 01:02:06,720
Speaker 3: at the moment, at least based on the evidence that

1423
01:02:06,800 --> 01:02:09,760
Speaker 3: we can we can observe. You know, where Rolex certified

1424
01:02:09,800 --> 01:02:12,120
Speaker 3: premium programs have already started to roll out is they

1425
01:02:12,160 --> 01:02:14,680
Speaker 3: are pricing it at a premium. The only way the

1426
01:02:14,800 --> 01:02:17,840
Speaker 3: premium to a premium, to a premium, to use a premium,

1427
01:02:17,920 --> 01:02:20,200
Speaker 3: to use the premium to the kind of market price

1428
01:02:20,320 --> 01:02:22,560
Speaker 3: a pre owned so a sub mariner which we were

1429
01:02:22,560 --> 01:02:26,720
Speaker 3: talking about earlier. You know, ten twelve thousand dollars watched retail,

1430
01:02:28,400 --> 01:02:31,240
Speaker 3: usually selling for the upper teens, maybe twenty thousand dollars

1431
01:02:31,280 --> 01:02:33,919
Speaker 3: in the preon market, you know, the Rollck certified preon

1432
01:02:34,000 --> 01:02:36,000
Speaker 3: prices are going to be even higher than that, maybe

1433
01:02:36,040 --> 01:02:38,520
Speaker 3: in the mid to upper twenties. And so for a

1434
01:02:38,600 --> 01:02:41,320
Speaker 3: certain buyer that maybe is peace of mind. Maybe it's

1435
01:02:41,400 --> 01:02:43,600
Speaker 3: the kind of knowledge of having bought it from a

1436
01:02:43,720 --> 01:02:47,560
Speaker 3: Rolex authorized dealer, certified by Rolex, making sure that it's

1437
01:02:47,560 --> 01:02:51,120
Speaker 3: only ever been serviced by Relux. And but again I

1438
01:02:51,160 --> 01:02:54,200
Speaker 3: think where the comparison still holds to a certified preon

1439
01:02:54,280 --> 01:02:57,040
Speaker 3: program is there's a finite number of places that sales

1440
01:02:57,080 --> 01:02:59,360
Speaker 3: certified preon and those are the brands themselves or the

1441
01:02:59,360 --> 01:03:01,560
Speaker 3: authorized dealer with the brands. There's tons of places that

1442
01:03:01,680 --> 01:03:03,760
Speaker 3: sell pre owned cars, and there are lots of places

1443
01:03:03,800 --> 01:03:07,080
Speaker 3: that sell pre owned watches. I think consumers have choices

1444
01:03:07,120 --> 01:03:09,560
Speaker 3: to go to a trusted player in a pre owned space,

1445
01:03:09,920 --> 01:03:11,840
Speaker 3: or maybe you know, go buy it off of eBay

1446
01:03:11,960 --> 01:03:14,360
Speaker 3: from the original owner. Take your chances. Maybe you get

1447
01:03:14,360 --> 01:03:16,560
Speaker 3: a lemon, maybe you get something in In our case,

1448
01:03:16,560 --> 01:03:18,600
Speaker 3: I mean, we're I think, as trusted as it gets.

1449
01:03:18,680 --> 01:03:21,760
Speaker 3: The trust is unimpeachable. Never you know, never sold the

1450
01:03:21,840 --> 01:03:24,040
Speaker 3: non authentic piece, never sold the piece that we couldn't

1451
01:03:24,040 --> 01:03:26,680
Speaker 3: stand behind and vouch for in a pre owned capacity.

1452
01:03:27,080 --> 01:03:29,360
Speaker 3: And to the points that we were discussing earlier, the

1453
01:03:29,520 --> 01:03:32,200
Speaker 3: ease of selling with us is unparalleled. I think the

1454
01:03:32,280 --> 01:03:34,959
Speaker 3: ability to sell and transact your sale of a watch

1455
01:03:35,080 --> 01:03:37,320
Speaker 3: over the internet, get an instant quote at an inserprise.

1456
01:03:37,720 --> 01:03:39,600
Speaker 3: The way the Certified pre Owned program is working at

1457
01:03:39,600 --> 01:03:41,320
Speaker 3: the moment is you have to physically take your watch

1458
01:03:41,440 --> 01:03:45,120
Speaker 3: into an authorized dealer that is offering the Rollick CPO program.

1459
01:03:45,520 --> 01:03:48,760
Speaker 3: They'll inspect your watch, they'll offer you something in exchange

1460
01:03:48,760 --> 01:03:51,200
Speaker 3: for your watch, And then I think, then this is

1461
01:03:51,360 --> 01:03:53,400
Speaker 3: you know, just my own personal views. Then they have

1462
01:03:53,520 --> 01:03:57,000
Speaker 3: the challenge of showing the original piece side by side

1463
01:03:57,040 --> 01:03:58,800
Speaker 3: with the pre owned piece, right, And there's something a

1464
01:03:58,800 --> 01:04:01,760
Speaker 3: little off there, right, If you're selling an original sub

1465
01:04:01,800 --> 01:04:04,200
Speaker 3: mariner for that ten twelve thousand dollars retail price and

1466
01:04:04,280 --> 01:04:05,880
Speaker 3: then the pre owned piece right next to it for

1467
01:04:06,000 --> 01:04:09,200
Speaker 3: twenty seven twenty eight thousand. Explaining that is a challenge.

1468
01:04:09,440 --> 01:04:14,080
Speaker 3: But my point being that like their entry into this market,

1469
01:04:14,120 --> 01:04:16,400
Speaker 3: if anything, just serves as an endorsement of the pre

1470
01:04:16,480 --> 01:04:18,800
Speaker 3: owned market. I think it's the biggest brand of the world.

1471
01:04:18,880 --> 01:04:20,840
Speaker 3: Whatever they do matters a hell of a lot in

1472
01:04:20,920 --> 01:04:23,160
Speaker 3: this space, and I think we look at that as

1473
01:04:23,200 --> 01:04:25,280
Speaker 3: a good thing. It's kind of a blessing, if you will,

1474
01:04:25,800 --> 01:04:27,880
Speaker 3: for the pre owned space and for the importance of

1475
01:04:27,920 --> 01:04:29,960
Speaker 3: the pre and space in the kind of constellation of

1476
01:04:30,440 --> 01:04:33,400
Speaker 3: you know, how people consume and transact with watches.

1477
01:04:33,800 --> 01:04:34,000
Speaker 1: Huh.

1478
01:04:34,600 --> 01:04:37,160
Speaker 2: So let's do a compare and contrast. I'm going to

1479
01:04:37,680 --> 01:04:39,680
Speaker 2: mangle his name, the CEO of.

1480
01:04:40,000 --> 01:04:41,960
Speaker 3: Paddock Here Here Star.

1481
01:04:42,200 --> 01:04:49,920
Speaker 2: Yeah. So he goes out and buys modern era Paddocks

1482
01:04:50,240 --> 01:04:53,640
Speaker 2: on the US market to figure out who's flipping them

1483
01:04:53,760 --> 01:04:57,320
Speaker 2: and to call a dealer two account, Hey, why are

1484
01:04:57,320 --> 01:05:01,160
Speaker 2: you selling our rare watches to somebody who's just flipping

1485
01:05:01,200 --> 01:05:05,120
Speaker 2: them on the secondary market. Can we assume we'll never

1486
01:05:05,200 --> 01:05:07,000
Speaker 2: see a CPO program from Paddock that?

1487
01:05:07,120 --> 01:05:10,280
Speaker 1: Well, actually, I think you guys actually reported that pretty recently,

1488
01:05:10,400 --> 01:05:11,480
Speaker 1: that that Thiery said that.

1489
01:05:11,720 --> 01:05:14,280
Speaker 2: That was an interview that one of the Bloomberg reporters

1490
01:05:14,280 --> 01:05:16,000
Speaker 2: who were at watching exactly right.

1491
01:05:16,200 --> 01:05:18,440
Speaker 1: So, I mean, as of today, it seems like they

1492
01:05:18,480 --> 01:05:21,160
Speaker 1: will not get into CPO, and that is not surprising

1493
01:05:21,200 --> 01:05:21,360
Speaker 1: to me.

1494
01:05:21,480 --> 01:05:23,800
Speaker 2: Really, all the volume, it makes much more sense.

1495
01:05:23,880 --> 01:05:26,120
Speaker 1: Yeah, but exactly the ticket price is so much higher

1496
01:05:26,680 --> 01:05:29,240
Speaker 1: with Rolex in particular, I think it's important you could.

1497
01:05:29,080 --> 01:05:34,400
Speaker 2: Get in to a Calatrava relatively get it twenty five probably, Yeah,

1498
01:05:34,440 --> 01:05:36,520
Speaker 2: oh really if you can get it, Oh, that's much

1499
01:05:36,600 --> 01:05:37,960
Speaker 2: more than they were just a few year.

1500
01:05:38,040 --> 01:05:40,920
Speaker 3: Yeah, and again you can't you can't find them at retail.

1501
01:05:41,040 --> 01:05:42,840
Speaker 3: They're they're so more demand than supply.

1502
01:05:43,080 --> 01:05:46,120
Speaker 1: Yeah, but yeah, Rolex is a different thing. And I

1503
01:05:46,240 --> 01:05:48,400
Speaker 1: want to be totally concise here, So like when when

1504
01:05:48,520 --> 01:05:50,960
Speaker 1: we say Rolex CPO, like the dealers are mostly going

1505
01:05:51,040 --> 01:05:53,760
Speaker 1: to be doing this stuff, and the dealers set the prices.

1506
01:05:53,800 --> 01:05:55,040
Speaker 1: It's not like Rolex set the prices.

1507
01:05:55,240 --> 01:05:58,000
Speaker 2: So what's in it for Rolex versus you know, what's

1508
01:05:58,040 --> 01:06:00,280
Speaker 2: in it for the dealers, because there's only so much apply.

1509
01:06:01,040 --> 01:06:05,320
Speaker 2: I went to an event out in at the Manhassan Americana,

1510
01:06:06,080 --> 01:06:10,640
Speaker 2: at the big watch place over there. I'm I believe

1511
01:06:10,720 --> 01:06:16,760
Speaker 2: that's correct, and they have they're pushing everything except ap

1512
01:06:17,080 --> 01:06:21,120
Speaker 2: Rolex and Paddock. Because you want to get on their

1513
01:06:21,360 --> 01:06:22,480
Speaker 2: their good side.

1514
01:06:22,320 --> 01:06:23,400
Speaker 1: Buy some of these watches.

1515
01:06:23,480 --> 01:06:25,760
Speaker 2: I mean, it's they don't come out and say it,

1516
01:06:25,880 --> 01:06:28,840
Speaker 2: but it's wink wink, nudge, nudge. Hey, if you wanna

1517
01:06:29,040 --> 01:06:31,200
Speaker 2: if you want a Batman, you need to buy one

1518
01:06:31,240 --> 01:06:35,800
Speaker 2: of these Pistachio Brightling premieres, and then we could talk about,

1519
01:06:36,000 --> 01:06:38,800
Speaker 2: you know, a batgirl on a jubilee.

1520
01:06:38,840 --> 01:06:40,360
Speaker 1: If that that's what gets you excited.

1521
01:06:41,520 --> 01:06:43,360
Speaker 2: How did we ever end up in this place?

1522
01:06:44,480 --> 01:06:46,760
Speaker 1: Well, I mean it's it's the uniformity of taste at

1523
01:06:46,800 --> 01:06:48,360
Speaker 1: this point. And I'm gonna blame it on Instagram, my

1524
01:06:48,400 --> 01:06:50,280
Speaker 1: friends at Instagram. You know, it's just so many people

1525
01:06:50,680 --> 01:06:53,040
Speaker 1: posting the same stuff over and over again. And five

1526
01:06:53,120 --> 01:06:55,160
Speaker 1: years ago, nobody cared about the Nautilus or the Aquanat.

1527
01:06:55,160 --> 01:06:56,880
Speaker 1: I mean, they were good watches and we all liked them,

1528
01:06:56,920 --> 01:06:58,840
Speaker 1: but It wasn't a big deal at all, and people

1529
01:06:58,920 --> 01:07:00,480
Speaker 1: were buying what they like. And then all of a

1530
01:07:00,520 --> 01:07:02,600
Speaker 1: sudden people say, wait a minute, I can I can

1531
01:07:02,640 --> 01:07:04,240
Speaker 1: buy a p A tech at twenty and sell it

1532
01:07:04,320 --> 01:07:06,680
Speaker 1: for sixty, sell it for one hundred and sixty, which

1533
01:07:06,680 --> 01:07:09,120
Speaker 1: the Nautilus was trading at first, really fifty seven eleven A.

1534
01:07:09,680 --> 01:07:11,920
Speaker 1: And so that that changed the dynamic completely. It used

1535
01:07:11,920 --> 01:07:13,160
Speaker 1: to just be like, hey, I like this thing, I'm

1536
01:07:13,160 --> 01:07:14,600
Speaker 1: going to buy it. I may make money, I may not.

1537
01:07:15,120 --> 01:07:17,400
Speaker 1: Then it became if you're not making money, you're a fool.

1538
01:07:17,760 --> 01:07:19,440
Speaker 1: And that's whole a lot of people in finance.

1539
01:07:19,560 --> 01:07:21,120
Speaker 2: Is it just five years ago?

1540
01:07:21,280 --> 01:07:22,800
Speaker 1: Is it that reason? I would say, I would say

1541
01:07:22,840 --> 01:07:25,400
Speaker 1: pre COVID, Before COVID, it was not a concern. It

1542
01:07:25,480 --> 01:07:28,040
Speaker 1: really wasn't. Okay, Daytona, you knew you'd get that an

1543
01:07:28,080 --> 01:07:30,360
Speaker 1: awkward I'm sorry, Nautilust maybe you'd get that, but it

1544
01:07:30,480 --> 01:07:32,919
Speaker 1: wasn't that way. I mean. I bought my fifty seven

1545
01:07:32,920 --> 01:07:36,200
Speaker 1: eleven R from Tiffany here in New York in twenty thirteen.

1546
01:07:36,240 --> 01:07:38,840
Speaker 2: Tiffany Blue No no, No, this is a rose could one.

1547
01:07:39,040 --> 01:07:41,400
Speaker 1: One before the blue one, and they it was sitting

1548
01:07:41,400 --> 01:07:43,480
Speaker 1: in the case, and that's it and there I'll take that.

1549
01:07:43,720 --> 01:07:45,919
Speaker 1: And that watch at its peak was probably four hundred

1550
01:07:45,920 --> 01:07:48,200
Speaker 1: thousand dollars. Yeah, I probably bought it. Would you pay

1551
01:07:48,240 --> 01:07:49,560
Speaker 1: forty five something like that?

1552
01:07:49,720 --> 01:07:51,960
Speaker 2: Ten X is not a bad exactly, but that's a

1553
01:07:52,160 --> 01:07:56,160
Speaker 2: change left ubs. Yeah, this is where So here's the

1554
01:07:56,280 --> 01:07:59,880
Speaker 2: crazy thing. I have slowly warmed up to the north.

1555
01:08:00,360 --> 01:08:03,200
Speaker 2: It's not my favorite watch. I don't some of the

1556
01:08:03,320 --> 01:08:09,040
Speaker 2: design I don't. I don't get the Royal Oak. I

1557
01:08:09,160 --> 01:08:11,760
Speaker 2: know people who are like have eight of them. I

1558
01:08:12,160 --> 01:08:14,800
Speaker 2: just can't wrap my head around. And I know I

1559
01:08:15,080 --> 01:08:17,440
Speaker 2: understand the historical significance.

1560
01:08:18,560 --> 01:08:20,160
Speaker 1: What what makes the Royal.

1561
01:08:19,960 --> 01:08:25,240
Speaker 2: Oak and the noaut you So, first of all, I'm

1562
01:08:25,400 --> 01:08:28,040
Speaker 2: ten years older than both you guys. So I remember

1563
01:08:28,120 --> 01:08:32,400
Speaker 2: the seventies as a horrific decade of all around hollester

1564
01:08:32,560 --> 01:08:35,519
Speaker 2: and disco. Right, that's the seventies to me, and the

1565
01:08:35,840 --> 01:08:40,439
Speaker 2: design ethos. By the way, I have a very contemporary house.

1566
01:08:40,520 --> 01:08:43,240
Speaker 2: I love mid century modern. So if you go back

1567
01:08:43,360 --> 01:08:45,680
Speaker 2: to the some of the designs of the I was

1568
01:08:45,960 --> 01:08:52,200
Speaker 2: just in Scottsdale, Arizona, at the Valley Hoe Hotel that

1569
01:08:53,000 --> 01:08:55,800
Speaker 2: like the rat pack should be washing it. Just that

1570
01:08:56,040 --> 01:09:00,400
Speaker 2: sort of design ethos it it's before I was born,

1571
01:09:00,520 --> 01:09:03,160
Speaker 2: But I'm like, I get it. But I remember the

1572
01:09:03,240 --> 01:09:07,360
Speaker 2: seventies as just like a horrific era. Maybe it's the

1573
01:09:07,360 --> 01:09:09,479
Speaker 2: same thing as the Samarana. I just associate it with.

1574
01:09:09,880 --> 01:09:11,760
Speaker 2: So I look at the Royal Oak and I'm like, yeah,

1575
01:09:11,760 --> 01:09:14,960
Speaker 2: it's got that kind of Remember the giant Porsche Carrera

1576
01:09:15,120 --> 01:09:15,719
Speaker 2: glass shirt.

1577
01:09:16,280 --> 01:09:17,519
Speaker 1: They were horrific And.

1578
01:09:19,479 --> 01:09:25,240
Speaker 2: I know the historical significance what makes the watch so special?

1579
01:09:25,400 --> 01:09:27,479
Speaker 1: Well, And the first of all, it was my first

1580
01:09:27,640 --> 01:09:29,439
Speaker 1: high end watch. I bought two roll exes and then

1581
01:09:29,479 --> 01:09:31,519
Speaker 1: after that I saved up when I bought a Vinta

1582
01:09:31,640 --> 01:09:33,920
Speaker 1: JP and a Series Royal Oak. This is probably twenty

1583
01:09:34,439 --> 01:09:37,200
Speaker 1: What year was the watch nineteen seventy two? It was okay, series,

1584
01:09:37,320 --> 01:09:39,840
Speaker 1: the first really early one, and box paper is the

1585
01:09:39,840 --> 01:09:42,560
Speaker 1: whole thing. And it first of all, it was the

1586
01:09:42,720 --> 01:09:45,200
Speaker 1: AP was the first high end manufacturer ever visited. So

1587
01:09:45,320 --> 01:09:47,960
Speaker 1: that opened up my eyes to what watchmaking could be,

1588
01:09:48,680 --> 01:09:50,559
Speaker 1: if that makes any sense. Yeah, yeah, to see how

1589
01:09:50,560 --> 01:09:53,000
Speaker 1: a Royal Oak is finished, polished the case, you mean,

1590
01:09:53,640 --> 01:09:55,439
Speaker 1: not a boutique. You went to the mids Switzerland.

1591
01:09:56,000 --> 01:09:57,840
Speaker 2: Really we should all get such a trip.

1592
01:09:57,920 --> 01:09:59,800
Speaker 1: It was amazing honestly do that.

1593
01:10:00,080 --> 01:10:02,240
Speaker 2: I know guys that go to Modena and do the

1594
01:10:02,280 --> 01:10:05,559
Speaker 2: Ferrari exactly and they come back and they say, whatever

1595
01:10:06,080 --> 01:10:07,479
Speaker 2: on the car wasn't enough.

1596
01:10:07,720 --> 01:10:10,160
Speaker 1: I'm gonna yeah, so precisely that. I know someone with

1597
01:10:10,439 --> 01:10:11,120
Speaker 1: a five point.

1598
01:10:10,920 --> 01:10:13,560
Speaker 2: Fifty just came back and bought a fourth thirty.

1599
01:10:13,320 --> 01:10:16,599
Speaker 1: Coues he could. Yeah, it's it's that experience, you see

1600
01:10:16,640 --> 01:10:18,120
Speaker 1: what it really goes into the stuff and you fall

1601
01:10:18,160 --> 01:10:20,919
Speaker 1: in love. And then the royal look in particular the jumbos,

1602
01:10:20,920 --> 01:10:23,800
Speaker 1: the thirty nine millimeter watches wear some that's hilarious, that's

1603
01:10:23,800 --> 01:10:26,479
Speaker 1: what they're called. Yeah, they wear so amazingly on your wrist,

1604
01:10:26,600 --> 01:10:28,639
Speaker 1: and it's just it really, it is just I think

1605
01:10:28,720 --> 01:10:30,720
Speaker 1: like the chicest, most elegant watch a man or a

1606
01:10:30,760 --> 01:10:31,360
Speaker 1: woman can wear.

1607
01:10:31,840 --> 01:10:33,680
Speaker 2: I mean I've loved them forever. I bought one as

1608
01:10:33,720 --> 01:10:35,240
Speaker 2: recently as a month ago, two months ago.

1609
01:10:36,320 --> 01:10:37,880
Speaker 1: It's just an amazing thing. And then all of a

1610
01:10:37,920 --> 01:10:40,519
Speaker 1: sudden they're actually cool. And I think ten years ago

1611
01:10:40,760 --> 01:10:42,439
Speaker 1: they were not cool, and that was kind of fun.

1612
01:10:42,880 --> 01:10:44,400
Speaker 1: But it's a lot more fun when they are cool

1613
01:10:44,439 --> 01:10:46,280
Speaker 1: and people know what they are, and people are excited

1614
01:10:46,280 --> 01:10:48,040
Speaker 1: to see a royal oak on your wrist. And then

1615
01:10:48,040 --> 01:10:50,120
Speaker 1: you got like our friend John Mayer who's very close

1616
01:10:50,200 --> 01:10:52,519
Speaker 1: with them, and Ed Sheeran and Kevin Hart, all these

1617
01:10:52,560 --> 01:10:55,000
Speaker 1: like kind of cool interesting people started to get kind

1618
01:10:55,000 --> 01:10:56,800
Speaker 1: of hip to the royal oak thing. And now it's fun.

1619
01:10:56,840 --> 01:10:58,400
Speaker 1: It's part of like a cultural phenomenon.

1620
01:10:58,439 --> 01:11:00,519
Speaker 2: Well, I love the idea that if you know, you know,

1621
01:11:00,760 --> 01:11:04,000
Speaker 2: meaning so I could I could wear any of my

1622
01:11:04,280 --> 01:11:08,240
Speaker 2: eclectic watches or the langa. Nobody says a word, but

1623
01:11:08,400 --> 01:11:11,280
Speaker 2: every now and then someone at like some event will

1624
01:11:11,280 --> 01:11:13,439
Speaker 2: come up and say, is that the moon face?

1625
01:11:13,760 --> 01:11:15,840
Speaker 1: Yeah? If anybody knows what that long it is, that's

1626
01:11:15,880 --> 01:11:16,519
Speaker 1: a very good sign.

1627
01:11:16,680 --> 01:11:18,680
Speaker 2: Yeah, because then they're like, oh, this guy, that's the

1628
01:11:18,760 --> 01:11:21,960
Speaker 2: real stuff. This guy's plugged into what's going on in

1629
01:11:22,120 --> 01:11:24,600
Speaker 2: that space. And it's not just a matter of you

1630
01:11:24,680 --> 01:11:25,840
Speaker 2: have money, you could go out and buy the most

1631
01:11:25,880 --> 01:11:30,120
Speaker 2: expensive car. It's you're picking something very very specific. So

1632
01:11:31,360 --> 01:11:33,560
Speaker 2: so one of the people here has this nautalis he

1633
01:11:33,640 --> 01:11:36,479
Speaker 2: sat on his wrist for thirty years, and it's the

1634
01:11:37,160 --> 01:11:40,680
Speaker 2: blue leather band and the blue face and it's not

1635
01:11:40,880 --> 01:11:44,360
Speaker 2: the full chrono, but it has the offset second hand

1636
01:11:44,479 --> 01:11:47,680
Speaker 2: calendar and I've kind of warmed up to it. Is

1637
01:11:48,160 --> 01:11:50,320
Speaker 2: the Every time I see it, I'm like, I just

1638
01:11:50,479 --> 01:11:52,880
Speaker 2: appreciate it a little more. Yeah, and I didn't feel

1639
01:11:52,920 --> 01:11:54,840
Speaker 2: that way when I first spotted that.

1640
01:11:56,160 --> 01:11:58,280
Speaker 1: The natalist in the and I'm sorry keep saying awkward.

1641
01:11:58,439 --> 01:12:01,040
Speaker 1: Not a lot notalists and Roy. Look, if I may say,

1642
01:12:01,120 --> 01:12:03,640
Speaker 1: I think they belong on bracelets. They were conceived on

1643
01:12:03,680 --> 01:12:06,320
Speaker 1: bracelets by drill genta. So ones on strap I've often

1644
01:12:06,479 --> 01:12:09,400
Speaker 1: I haven't had a super strong affinity towards, but those

1645
01:12:09,439 --> 01:12:12,479
Speaker 1: on bracelets I think are just fantastic. They're not They're

1646
01:12:12,479 --> 01:12:14,280
Speaker 1: not a rolllex like. You're not taking them swimming, you're

1647
01:12:14,280 --> 01:12:16,360
Speaker 1: not taking them diving. You can't go chopping wood in them.

1648
01:12:16,400 --> 01:12:17,280
Speaker 1: You know, Jeff and I both live.

1649
01:12:17,240 --> 01:12:19,240
Speaker 2: Well, you shouldn't chop wood in any so you shouldn't.

1650
01:12:19,240 --> 01:12:21,400
Speaker 2: But sometimes I learned the hard way. Again, I can't

1651
01:12:21,400 --> 01:12:24,360
Speaker 2: even throw a ball with this. That's how I the

1652
01:12:24,439 --> 01:12:25,120
Speaker 2: rehired meal.

1653
01:12:25,160 --> 01:12:27,240
Speaker 1: I always the result. I would just go back to

1654
01:12:27,280 --> 01:12:28,400
Speaker 1: the resharch, go straight.

1655
01:12:28,200 --> 01:12:30,200
Speaker 2: Off at half a million dollars when you're acting. So

1656
01:12:30,439 --> 01:12:33,080
Speaker 2: so as long as we're talking about specific watches, what

1657
01:12:33,200 --> 01:12:36,000
Speaker 2: are some of your favorites and what are your grail watches?

1658
01:12:36,080 --> 01:12:39,280
Speaker 2: That man, you haven't gotten, but you would love to have.

1659
01:12:39,560 --> 01:12:42,479
Speaker 1: Yeah, I mean my favorite, my favorite watch is the Omega.

1660
01:12:42,520 --> 01:12:44,800
Speaker 1: My grandfather gave me. No surprise there, that's the one.

1661
01:12:45,000 --> 01:12:45,479
Speaker 1: As I said, I.

1662
01:12:45,479 --> 01:12:48,920
Speaker 2: Put clearly a family emotional connection question, and all these

1663
01:12:48,960 --> 01:12:52,680
Speaker 2: watches have an emotional component outside of something like that.

1664
01:12:52,800 --> 01:12:55,400
Speaker 1: Outside of something like that. Look the Moonwatch, the hand

1665
01:12:55,479 --> 01:12:57,280
Speaker 1: one Moonwatch for seven thousand bucks. You can buy it

1666
01:12:57,320 --> 01:12:59,720
Speaker 1: on Hoodinky all day. Get it is the best watch

1667
01:12:59,760 --> 01:13:01,000
Speaker 1: in the world for that kind of well with the

1668
01:13:01,040 --> 01:13:03,759
Speaker 1: speed Mast Speedmaster, so my speedy.

1669
01:13:03,840 --> 01:13:06,080
Speaker 2: I just refused to get the hechs Alike because I

1670
01:13:06,160 --> 01:13:09,479
Speaker 2: know I the beauty of Rolex and I just had

1671
01:13:09,560 --> 01:13:12,479
Speaker 2: this after almost twenty years, fifteen years. I just had

1672
01:13:12,520 --> 01:13:17,479
Speaker 2: this repolish because I destroyed this watch. It's actually tight

1673
01:13:17,520 --> 01:13:18,519
Speaker 2: since they repolished it.

1674
01:13:18,920 --> 01:13:21,000
Speaker 1: But I this is a.

1675
01:13:22,600 --> 01:13:27,040
Speaker 2: Platinum yacht Master and I bought this in eight from

1676
01:13:27,120 --> 01:13:30,080
Speaker 2: a mortgage broker that was just liquidating everything. So that's

1677
01:13:30,200 --> 01:13:33,640
Speaker 2: my as I'm writing bail Out Nation, I buy this

1678
01:13:33,760 --> 01:13:38,160
Speaker 2: watch from a mortgage broker, So that's my emotional But

1679
01:13:38,439 --> 01:13:40,280
Speaker 2: you know, you could beat the crap out of these.

1680
01:13:40,920 --> 01:13:43,479
Speaker 2: The same thing with the Speedmaster, but the hex Al

1681
01:13:43,560 --> 01:13:46,559
Speaker 2: I was terrified about So I got this. I paid

1682
01:13:46,640 --> 01:13:47,880
Speaker 2: up for the Sapphire.

1683
01:13:47,680 --> 01:13:47,960
Speaker 1: Got it.

1684
01:13:49,840 --> 01:13:53,240
Speaker 2: Because you know, when I smash it into something, I

1685
01:13:53,240 --> 01:13:55,479
Speaker 2: don't have to worry about a dent, a dent scratch

1686
01:13:55,600 --> 01:14:00,840
Speaker 2: or whatever. So that's a great entry level sub ten

1687
01:14:00,920 --> 01:14:01,719
Speaker 2: thousand dollars watch.

1688
01:14:01,760 --> 01:14:04,160
Speaker 1: It's both an entry level and exit level, if that

1689
01:14:04,200 --> 01:14:06,200
Speaker 1: makes any sense. Like some of the wealthiest guys I

1690
01:14:06,280 --> 01:14:08,280
Speaker 1: know that have owned every paddock, every long but whatever,

1691
01:14:08,439 --> 01:14:10,160
Speaker 1: they end up wearing a handwab moon Watch. And I

1692
01:14:10,240 --> 01:14:12,760
Speaker 1: guarantee you when I retire from you know whatever, this is,

1693
01:14:12,920 --> 01:14:15,040
Speaker 1: that's the watch I will wear every day Handwab.

1694
01:14:14,760 --> 01:14:18,559
Speaker 2: Lie So when I wear so my two sub ten

1695
01:14:18,640 --> 01:14:21,519
Speaker 2: thousand dollar watches that I wear pretty regularly. One is

1696
01:14:21,640 --> 01:14:24,920
Speaker 2: the Monica with the gray face from Tag. The other

1697
01:14:25,080 --> 01:14:27,639
Speaker 2: is a Speedmaster, And every now and then someone will

1698
01:14:27,680 --> 01:14:30,800
Speaker 2: say I go speedy. Yeah, yeah, And it's just like

1699
01:14:31,640 --> 01:14:33,200
Speaker 2: you know, if you know, you know sort of thing

1700
01:14:33,400 --> 01:14:36,320
Speaker 2: it is. So let's take how about you, Jeff, what

1701
01:14:36,360 --> 01:14:38,160
Speaker 2: are you wearing sub ten Yeah?

1702
01:14:38,200 --> 01:14:41,280
Speaker 3: I mean my so my two sentimental favorite watches again

1703
01:14:41,400 --> 01:14:44,080
Speaker 3: both have a connection to my my family, and one

1704
01:14:44,160 --> 01:14:46,879
Speaker 3: is my great grandfather's pocket watch. It has his initials

1705
01:14:46,960 --> 01:14:49,680
Speaker 3: instead of the numbers. So it's Jay Virgil Allen and

1706
01:14:49,800 --> 01:14:52,360
Speaker 3: we named our third son Virgil after my great grandfather.

1707
01:14:52,760 --> 01:14:55,120
Speaker 3: This's got his name on it. A beautiful one hundred

1708
01:14:55,120 --> 01:14:57,880
Speaker 3: and twenty year old American mad pocket watch. And then

1709
01:14:57,920 --> 01:14:59,960
Speaker 3: I have my father Saeko, which you wore every day,

1710
01:15:00,160 --> 01:15:03,160
Speaker 3: and it's a quartz siko on a on an elastic strap,

1711
01:15:03,200 --> 01:15:05,960
Speaker 3: a little bit like this one bracelet. I should say, uh,

1712
01:15:06,120 --> 01:15:08,120
Speaker 3: this is a hood Inky limited edition I'm wearing today.

1713
01:15:08,200 --> 01:15:10,560
Speaker 3: This was under two hundred dollars, even under ten. That

1714
01:15:10,600 --> 01:15:13,479
Speaker 3: was under two hundred dollars time X collaboration we did,

1715
01:15:14,000 --> 01:15:15,960
Speaker 3: and I love it because of that that that's sort

1716
01:15:16,000 --> 01:15:18,360
Speaker 3: of you can't see. It's a pretty bulletproof. Yeah, I mean,

1717
01:15:18,400 --> 01:15:20,599
Speaker 3: this is this This I literally don't have to think

1718
01:15:20,640 --> 01:15:22,640
Speaker 3: twice to put it on my wrist. I wear I

1719
01:15:23,320 --> 01:15:24,800
Speaker 3: Ben knows. I'm on a quest to kind of get

1720
01:15:24,800 --> 01:15:27,959
Speaker 3: as many hood Inky limited edition watches as I'm happy.

1721
01:15:27,760 --> 01:15:28,040
Speaker 1: To help with.

1722
01:15:28,320 --> 01:15:31,840
Speaker 3: Yeah, yeah, yeah, it feels like it special to me

1723
01:15:32,000 --> 01:15:33,960
Speaker 3: to kind of own a little piece of our history

1724
01:15:34,000 --> 01:15:36,360
Speaker 3: as a brand. And again we've done limited editions with

1725
01:15:36,400 --> 01:15:38,560
Speaker 3: everyone from time X and Cassio, g Shock all the

1726
01:15:38,600 --> 01:15:41,880
Speaker 3: way up to Vastron and you know crazy independent brands

1727
01:15:41,920 --> 01:15:44,679
Speaker 3: like Grunfeld and and and and Lauren Ferrier and others

1728
01:15:44,800 --> 01:15:48,400
Speaker 3: like that. I guess my, yeah, this this, this is

1729
01:15:48,600 --> 01:15:52,240
Speaker 3: like one that I'm wearing a lot currently, but not

1730
01:15:52,400 --> 01:15:54,559
Speaker 3: to copycat. But I love the will make a speed

1731
01:15:54,600 --> 01:15:56,920
Speaker 3: Master And again the hood Inky limited Edition speed Master

1732
01:15:57,040 --> 01:15:57,680
Speaker 3: is a personal thing.

1733
01:15:57,920 --> 01:16:03,080
Speaker 2: It was anniversary with the Snoopy. Yeah, that's a great

1734
01:16:03,160 --> 01:16:05,560
Speaker 2: little watch, although that's kind of going ballistic.

1735
01:16:05,240 --> 01:16:10,680
Speaker 1: And price also. Yeah, so if you go to YouTube.

1736
01:16:10,280 --> 01:16:13,640
Speaker 2: You can find the old sixties and seventies zero commercials

1737
01:16:14,200 --> 01:16:16,519
Speaker 2: for time X takes a looking and keeps on together.

1738
01:16:16,720 --> 01:16:18,680
Speaker 2: I remember they would strap it to a front of

1739
01:16:18,760 --> 01:16:21,680
Speaker 2: a boat with a bunch of navy seals out and

1740
01:16:21,760 --> 01:16:23,880
Speaker 2: the boat would be slapping the water and they'd pull

1741
01:16:23,960 --> 01:16:27,400
Speaker 2: the watch out and still still going. They were great commercials,

1742
01:16:27,760 --> 01:16:30,600
Speaker 2: and the washes last forever. So fun fact, did you

1743
01:16:30,680 --> 01:16:33,800
Speaker 2: know that the very first television commercial ever aired ever

1744
01:16:34,040 --> 01:16:35,519
Speaker 2: worldwide was a watch brand?

1745
01:16:35,840 --> 01:16:36,920
Speaker 1: And what was all of us?

1746
01:16:37,080 --> 01:16:39,479
Speaker 3: Oh, no, nineteen forty one. I want to say, during

1747
01:16:39,760 --> 01:16:41,800
Speaker 3: the World Series game or something like that. Nineteen forty

1748
01:16:41,800 --> 01:16:43,920
Speaker 3: one was nine seconds. It cost them nine dollars.

1749
01:16:44,920 --> 01:16:48,360
Speaker 2: That's unbelievable. So let's let's take a step up above

1750
01:16:48,560 --> 01:16:52,400
Speaker 2: ten grandy, what would you guys look at. I'll give

1751
01:16:52,439 --> 01:16:55,360
Speaker 2: you a budget ten to fifties, so easy for me.

1752
01:16:55,439 --> 01:16:57,840
Speaker 2: And we talked earlier about like, you know, you saw

1753
01:16:57,880 --> 01:16:59,840
Speaker 2: a watch, you fell in love with it. On this

1754
01:17:00,320 --> 01:17:01,880
Speaker 2: you decided not to pull the trigger, and then you

1755
01:17:01,960 --> 01:17:04,519
Speaker 2: regret it every singce it kind of got away from you.

1756
01:17:04,640 --> 01:17:06,320
Speaker 2: For me, it's actually it is a Lunga one, but

1757
01:17:06,360 --> 01:17:08,439
Speaker 2: it is a special series of long ones they did.

1758
01:17:08,720 --> 01:17:11,479
Speaker 3: Called the Swarre series. Swarre dial. It's a mother of

1759
01:17:11,560 --> 01:17:14,920
Speaker 3: pearl dial and it's this one in particular. Phillips had

1760
01:17:14,960 --> 01:17:18,320
Speaker 3: it in their watch auction last November. Bend, myself and

1761
01:17:18,360 --> 01:17:21,200
Speaker 3: another collie of ours were at the Phillips headquarters in Geneva,

1762
01:17:21,680 --> 01:17:24,760
Speaker 3: saw the watch before it was under the hammer, loved it,

1763
01:17:25,000 --> 01:17:27,400
Speaker 3: just everything what to look go for. I want to

1764
01:17:27,400 --> 01:17:29,360
Speaker 3: say it only went for about well only went for

1765
01:17:29,920 --> 01:17:32,519
Speaker 3: thirty five or forty thousand Swiss francs. So it's definitely

1766
01:17:32,560 --> 01:17:34,960
Speaker 3: within the budget you've just given this. But and again

1767
01:17:35,200 --> 01:17:38,439
Speaker 3: Lunga ones, there aren't this is not a ubiquitous product.

1768
01:17:38,439 --> 01:17:40,040
Speaker 3: There aren't that many of them. It's one of those

1769
01:17:40,080 --> 01:17:42,840
Speaker 3: if you know, you know, I love the aesthetics of

1770
01:17:42,880 --> 01:17:44,760
Speaker 3: the dial. I love everything about the Lunga brand, but

1771
01:17:44,880 --> 01:17:47,760
Speaker 3: like this one in particular, this the dial just totally CAPTU.

1772
01:17:47,840 --> 01:17:49,240
Speaker 3: I would look at it and I would just get

1773
01:17:49,320 --> 01:17:51,000
Speaker 3: lost in the dial every time i'd wear it.

1774
01:17:51,439 --> 01:17:54,479
Speaker 2: I Oh, so, so you didn't pull the trick, didn't

1775
01:17:54,479 --> 01:17:55,000
Speaker 2: pull the trigger?

1776
01:17:55,120 --> 01:17:55,519
Speaker 1: How about you?

1777
01:17:55,680 --> 01:17:57,360
Speaker 2: What what got away? Uh?

1778
01:17:57,840 --> 01:18:02,000
Speaker 1: Well, the stuff that has gotten away is generally a

1779
01:18:02,040 --> 01:18:03,120
Speaker 1: little bit higher end stuff.

1780
01:18:03,200 --> 01:18:05,240
Speaker 2: So I have one of those that I've never even

1781
01:18:05,320 --> 01:18:08,800
Speaker 2: thought about pulling the trigger on, and recently, well I'm

1782
01:18:08,840 --> 01:18:11,760
Speaker 2: asking you the question. But so before we get to

1783
01:18:11,840 --> 01:18:14,920
Speaker 2: the crazy higher end stuff, you know, under one hundred

1784
01:18:15,040 --> 01:18:17,160
Speaker 2: over ten, Yeah, what would you wear?

1785
01:18:17,479 --> 01:18:19,920
Speaker 1: Weirdly, the watch that like I really kind of hated

1786
01:18:19,960 --> 01:18:21,360
Speaker 1: when it came out, now I love and I'm just

1787
01:18:21,400 --> 01:18:23,320
Speaker 1: never pulled the trigger. As the platinum Daytona, I'm a

1788
01:18:23,400 --> 01:18:26,720
Speaker 1: hardcore Daytona guy. I'm with you. I just never I was.

1789
01:18:26,800 --> 01:18:29,360
Speaker 1: I was actually witch color combination. So the platinum one

1790
01:18:29,479 --> 01:18:32,240
Speaker 1: is only the ice blue with the brick the brown ceramic.

1791
01:18:32,600 --> 01:18:35,479
Speaker 2: Do you do you like the new I love the back,

1792
01:18:36,200 --> 01:18:38,720
Speaker 2: but I kind of like the face of the older one.

1793
01:18:38,800 --> 01:18:40,960
Speaker 1: Interesting like if I could mix those two. Yeah, I

1794
01:18:41,320 --> 01:18:45,559
Speaker 1: prefer the new one, honestly, and I may it's great.

1795
01:18:46,280 --> 01:18:49,200
Speaker 1: That one I really disliked in twenty thirteen Minut launch,

1796
01:18:49,360 --> 01:18:51,559
Speaker 1: mostly because I was sour. I was sour that they

1797
01:18:51,600 --> 01:18:53,840
Speaker 1: didn't give us the steel watch with a ceramic bezzel.

1798
01:18:53,960 --> 01:18:55,400
Speaker 1: That was the big thing that that came out in

1799
01:18:55,400 --> 01:18:58,680
Speaker 1: twenty sixteen. Got that, So that's to watch. I'm just

1800
01:18:58,760 --> 01:19:01,680
Speaker 1: like weirdly never owned, which is strange because I love

1801
01:19:01,720 --> 01:19:03,759
Speaker 1: platinum watches. I love Rolex and I love the Daytona.

1802
01:19:03,800 --> 01:19:04,479
Speaker 1: I just never did it.

1803
01:19:04,960 --> 01:19:08,000
Speaker 2: And now you know, we'll see that's really can I

1804
01:19:08,080 --> 01:19:11,360
Speaker 2: tell you that blue brown and again dating back to

1805
01:19:11,439 --> 01:19:14,160
Speaker 2: the fifty sixties sort of fashion. So my wife used

1806
01:19:14,200 --> 01:19:17,400
Speaker 2: to teach fashion illustration and design. She's a colorist, and

1807
01:19:17,720 --> 01:19:19,840
Speaker 2: you show her that light blue with the brown, and

1808
01:19:19,920 --> 01:19:24,439
Speaker 2: she's like, wildly underrated, perfect combinations. People miss it. And

1809
01:19:24,680 --> 01:19:28,400
Speaker 2: when that came out with the display case, I mean,

1810
01:19:28,479 --> 01:19:29,519
Speaker 2: what what can you say?

1811
01:19:29,720 --> 01:19:32,680
Speaker 1: Yeah, I mean it's look, it's an eighty thousand dollars chronograph.

1812
01:19:33,200 --> 01:19:35,120
Speaker 1: So at that level, your little price, well, look you're

1813
01:19:35,160 --> 01:19:36,680
Speaker 1: intil You can buy a Langa, you can buy a

1814
01:19:36,720 --> 01:19:38,160
Speaker 1: Pat Tack you can buy a lot of stuff for

1815
01:19:38,200 --> 01:19:40,160
Speaker 1: eighty dollard bucks. You get the platinum bracelet, which is

1816
01:19:40,200 --> 01:19:44,160
Speaker 1: expensive for sure. So it's it's a I've got a

1817
01:19:44,240 --> 01:19:46,240
Speaker 1: I've got a complex relationship with that watch.

1818
01:19:46,920 --> 01:19:51,000
Speaker 2: So let's let's talk rail watches regardless of price. What's

1819
01:19:51,080 --> 01:19:53,400
Speaker 2: the one that's out there that that is the killer

1820
01:19:53,439 --> 01:19:53,640
Speaker 2: for you?

1821
01:19:53,800 --> 01:19:55,679
Speaker 1: There's a there's a few, I mean there are several. Really,

1822
01:19:55,680 --> 01:19:57,880
Speaker 1: you wouldn't be surprised to learn a thirty four to

1823
01:19:57,880 --> 01:20:00,880
Speaker 1: forty eight Paddock, which is their first self winding perpetual calendar,

1824
01:20:01,080 --> 01:20:03,679
Speaker 1: in particular in white gold. Those were kind of trading

1825
01:20:03,680 --> 01:20:05,679
Speaker 1: in like the mid two hundreds for a long while. Gold.

1826
01:20:05,760 --> 01:20:06,759
Speaker 2: What's the face collar?

1827
01:20:06,880 --> 01:20:07,280
Speaker 1: It's silver?

1828
01:20:07,439 --> 01:20:09,479
Speaker 2: Kind of all right, because they've run the they've done

1829
01:20:09,520 --> 01:20:10,720
Speaker 2: the salmon, they've done the watch.

1830
01:20:10,760 --> 01:20:13,280
Speaker 1: So this is way earlier. This is nineteen sixties, nineteen

1831
01:20:13,280 --> 01:20:15,800
Speaker 1: seventy oh really, yeah, So the very first ones, those

1832
01:20:15,880 --> 01:20:18,360
Speaker 1: were trading the mid twies forever. The minute I could

1833
01:20:18,360 --> 01:20:19,920
Speaker 1: afford one, I kind of hamm them hot. And now

1834
01:20:19,920 --> 01:20:21,559
Speaker 1: they're trading for about eight hundred two million.

1835
01:20:21,680 --> 01:20:24,040
Speaker 2: So as a Daytona guy, what do you think of

1836
01:20:24,280 --> 01:20:28,479
Speaker 2: like the Newman Daytona's in the sixties era. They're not crazy.

1837
01:20:28,560 --> 01:20:31,320
Speaker 2: They're like, for the same seventy five, you could get

1838
01:20:31,360 --> 01:20:32,960
Speaker 2: a nineteen sixty nine.

1839
01:20:32,960 --> 01:20:37,280
Speaker 1: Yeah, sixty three nine. I've had many of those. I've

1840
01:20:37,320 --> 01:20:40,320
Speaker 1: had a bunch of Paul Newman. So no, no, it's

1841
01:20:40,439 --> 01:20:42,760
Speaker 1: not a Grail watch. Look a sixty to sixty three

1842
01:20:42,840 --> 01:20:45,560
Speaker 1: Mark one Oyster Paul Newman, which is kind of like

1843
01:20:45,600 --> 01:20:47,840
Speaker 1: the big bad Paul Newman. I had one of those.

1844
01:20:47,920 --> 01:20:49,720
Speaker 1: I sold it too soon. Wish I still had that.

1845
01:20:49,800 --> 01:20:51,720
Speaker 1: But a gold Paul Newman I've never had that. That'd

1846
01:20:51,760 --> 01:20:53,800
Speaker 1: be something fun. But these are crazy watches, you know,

1847
01:20:54,400 --> 01:20:56,639
Speaker 1: I mean really expensive watches that I like. I don't.

1848
01:20:56,680 --> 01:20:59,040
Speaker 1: I don't live in Manhattan anymore. I live upstate. Those

1849
01:20:59,120 --> 01:21:00,920
Speaker 1: just don't fit my life all anymore. When I lived

1850
01:21:00,920 --> 01:21:02,439
Speaker 1: in Manhattan and it was kind of out and about,

1851
01:21:02,479 --> 01:21:04,280
Speaker 1: it kind of made sense. But now, as a father

1852
01:21:04,400 --> 01:21:06,800
Speaker 1: in particular, it just doesn't compute this terrible for chopping

1853
01:21:06,840 --> 01:21:09,240
Speaker 1: would yeah, you know, it always goes back to chop

1854
01:21:09,400 --> 01:21:11,920
Speaker 1: riding my canoe, you know, things like that. So what

1855
01:21:12,040 --> 01:21:15,559
Speaker 1: T Grail watched? Jeff? Money is no object? It would

1856
01:21:15,680 --> 01:21:15,960
Speaker 1: it would?

1857
01:21:16,360 --> 01:21:20,080
Speaker 3: I think I'd go with a watch that comes from

1858
01:21:20,400 --> 01:21:23,080
Speaker 3: a craftsman from a craftsman's hand. So I probably a

1859
01:21:23,240 --> 01:21:26,280
Speaker 3: Roger Smith or Philipe du four, you know, knowing that

1860
01:21:26,400 --> 01:21:28,679
Speaker 3: I do own a piece of art from an artist,

1861
01:21:28,880 --> 01:21:32,160
Speaker 3: somebody who individually made this piece by hand, put a

1862
01:21:32,200 --> 01:21:37,000
Speaker 3: stamp on it, saw it from birth to basically like conception.

1863
01:21:37,200 --> 01:21:39,240
Speaker 3: I mean, yeah, that that that would be it for me.

1864
01:21:40,320 --> 01:21:43,400
Speaker 3: And again I think Philipe dufour is turning seventy five,

1865
01:21:43,640 --> 01:21:47,120
Speaker 3: not getting it oneah, and he's still making every part

1866
01:21:47,160 --> 01:21:49,479
Speaker 3: of the component, every piece by hand. Roger Smith, you know,

1867
01:21:49,640 --> 01:21:53,920
Speaker 3: kind of next generation. But yeah, Reshap, these guys who

1868
01:21:54,000 --> 01:21:58,200
Speaker 3: are making these watches, just you know, it's incredible what

1869
01:21:58,280 --> 01:22:00,200
Speaker 3: they do. It's a it's a one man operation start

1870
01:22:00,240 --> 01:22:02,000
Speaker 3: to finish, and I just think like something like that.

1871
01:22:02,800 --> 01:22:05,960
Speaker 3: It's yeah, it's like you're buying twenty watches exactly.

1872
01:22:06,080 --> 01:22:07,040
Speaker 1: It'd be like you're.

1873
01:22:06,880 --> 01:22:09,640
Speaker 3: Buying an original picassa from the man himself while he

1874
01:22:09,760 --> 01:22:10,400
Speaker 3: was still painting.

1875
01:22:10,600 --> 01:22:12,760
Speaker 1: Like and you know that Roger in particular, and I'm

1876
01:22:12,840 --> 01:22:15,400
Speaker 1: lucky enough to own one. I've known him forever. His

1877
01:22:15,520 --> 01:22:17,880
Speaker 1: story is amazing. He makes ten watches per year, Roger Smith,

1878
01:22:18,200 --> 01:22:20,360
Speaker 1: all by hand. He does not own one of his

1879
01:22:20,439 --> 01:22:24,000
Speaker 1: own watches never has because we can't give up ten

1880
01:22:24,040 --> 01:22:26,320
Speaker 1: percent of you know, he can't take one watch out

1881
01:22:26,320 --> 01:22:28,360
Speaker 1: of the line of ten per year, you know. And

1882
01:22:28,479 --> 01:22:31,320
Speaker 1: these watches are phenomenally expensive that you know, new and

1883
01:22:31,360 --> 01:22:34,080
Speaker 1: they're there worth even more kind of secondhand. But his watches,

1884
01:22:34,080 --> 01:22:36,160
Speaker 1: as Jeff said, are just to me. It's the ten game.

1885
01:22:36,200 --> 01:22:38,519
Speaker 3: It's a great story on Hood of Geek today about

1886
01:22:38,720 --> 01:22:43,040
Speaker 3: his second pocket watch, which there's a whole backstory to it.

1887
01:22:43,240 --> 01:22:45,640
Speaker 3: Basically was he made a pocket watch and presented it

1888
01:22:45,720 --> 01:22:49,479
Speaker 3: to his master, George Daniels, and George Daniels rejected it

1889
01:22:49,520 --> 01:22:51,960
Speaker 3: and said to go back and work on another version

1890
01:22:52,040 --> 01:22:55,320
Speaker 3: and do it better. Took him five years of his

1891
01:22:55,600 --> 01:22:59,200
Speaker 3: entire life livelihood creating a second pocket watch, And then

1892
01:22:59,560 --> 01:23:03,200
Speaker 3: Georgia said, did you make every part by hand? He said, yes, congratulations,

1893
01:23:03,240 --> 01:23:06,200
Speaker 3: Now you're a watchmaker. He then sold that pocket watch

1894
01:23:06,240 --> 01:23:09,320
Speaker 3: to a private buyer to fund the creation of his

1895
01:23:09,479 --> 01:23:11,600
Speaker 3: next series of watches. And that watch is going to

1896
01:23:11,600 --> 01:23:14,960
Speaker 3: be auctioned by Phillips and I imagine kinds of records.

1897
01:23:15,240 --> 01:23:18,080
Speaker 2: Oh yeah, easily, for sure. I mean his wristwatches, like

1898
01:23:18,200 --> 01:23:19,479
Speaker 2: just generic risk watches now.

1899
01:23:19,400 --> 01:23:22,120
Speaker 1: Trade for about six His generic wrist watches if you

1900
01:23:22,160 --> 01:23:26,160
Speaker 1: can find one. I mean, Jacobs and Co. What do

1901
01:23:26,240 --> 01:23:27,120
Speaker 1: you do with stuff like that?

1902
01:23:27,200 --> 01:23:28,439
Speaker 2: There are half a million, a million.

1903
01:23:28,560 --> 01:23:29,200
Speaker 1: It's a different thing.

1904
01:23:29,280 --> 01:23:31,920
Speaker 2: He did that out thing that went for thirty million

1905
01:23:32,840 --> 01:23:35,040
Speaker 2: rights like these are just insane numbers.

1906
01:23:35,280 --> 01:23:37,120
Speaker 1: It's a different corner of the market. It's a very

1907
01:23:37,160 --> 01:23:39,880
Speaker 1: real corner, a really trade for sure. You know, he

1908
01:23:40,160 --> 01:23:43,519
Speaker 1: he tends to, he designs it, he does the setting

1909
01:23:43,680 --> 01:23:46,960
Speaker 1: and all the stone work. But the movement is a jeweler. Look,

1910
01:23:46,960 --> 01:23:49,400
Speaker 1: he's Jacob, Jacob the jeweler. He's the guy in all

1911
01:23:49,400 --> 01:23:52,960
Speaker 1: the rap songs. Literally, So it's a different corner of

1912
01:23:52,960 --> 01:23:54,519
Speaker 1: the market, but a very real one. And like you know,

1913
01:23:54,560 --> 01:23:57,120
Speaker 1: he is selling those watches for crazy numbers all day.

1914
01:23:57,520 --> 01:23:58,360
Speaker 1: Huh amazing.

1915
01:23:58,560 --> 01:24:02,599
Speaker 2: Yeah, so so let's talk a little bit about talking watches.

1916
01:24:03,120 --> 01:24:06,719
Speaker 2: This has become a super popular segment of Oh Dinky,

1917
01:24:07,360 --> 01:24:09,960
Speaker 2: I know the first one was with John Mayer.

1918
01:24:10,280 --> 01:24:12,679
Speaker 1: How did this get started? Yeah, so kind of taking

1919
01:24:12,720 --> 01:24:14,960
Speaker 1: a step back in twenty twelve, when I launched Straps

1920
01:24:15,400 --> 01:24:17,599
Speaker 1: online to sell straps, I got an email that said,

1921
01:24:17,640 --> 01:24:19,920
Speaker 1: Hey John Mayer here, love what you're doing. Let's hop

1922
01:24:19,960 --> 01:24:21,519
Speaker 1: on the phone. And I was like, Okay, like, I

1923
01:24:21,560 --> 01:24:23,360
Speaker 1: wonder who this is, some guy named John Mayor, you know,

1924
01:24:23,600 --> 01:24:26,040
Speaker 1: some accountant in Texas named John Mayer. So got on

1925
01:24:26,080 --> 01:24:27,840
Speaker 1: the phone. Turns out of John Mayer, the rock star,

1926
01:24:28,000 --> 01:24:29,760
Speaker 1: and we just became kind of fast friends. You know,

1927
01:24:29,840 --> 01:24:32,240
Speaker 1: we were about the same age at the time. We

1928
01:24:32,320 --> 01:24:34,519
Speaker 1: were both living a really weird life. Mine was on

1929
01:24:34,600 --> 01:24:36,960
Speaker 1: the road, traveling around for watches, take pictures, writing. He

1930
01:24:37,240 --> 01:24:40,519
Speaker 1: was an actual rock star, and we just became like true, true,

1931
01:24:40,720 --> 01:24:43,839
Speaker 1: very close friends, very quickly. And so in twenty thirteen

1932
01:24:44,120 --> 01:24:45,679
Speaker 1: he called me and he's like, Hey, I'm in town

1933
01:24:45,800 --> 01:24:48,120
Speaker 1: doing Letterman or Leno or something like that. I've got

1934
01:24:48,160 --> 01:24:49,560
Speaker 1: a bag full of watches. Do you want to just

1935
01:24:49,640 --> 01:24:52,639
Speaker 1: like record a conversation about watches? And I said sure,

1936
01:24:52,720 --> 01:24:56,400
Speaker 1: and we had wait. So this was Mayor's doing his idea.

1937
01:24:56,479 --> 01:24:58,599
Speaker 1: I mean, we'd always talked about doing a video together

1938
01:24:58,760 --> 01:25:02,439
Speaker 1: some kind, but never premeditated, never storyboarded or anything like that.

1939
01:25:02,600 --> 01:25:04,479
Speaker 2: And I've got a bag full of watches. Sounds like

1940
01:25:04,560 --> 01:25:05,160
Speaker 2: he just knocked.

1941
01:25:07,640 --> 01:25:09,200
Speaker 1: He used to roll pretty heavy with stuff, not so

1942
01:25:09,320 --> 01:25:11,800
Speaker 1: much anymore, just for security reasons, but you know, to

1943
01:25:12,040 --> 01:25:15,240
Speaker 1: to to our credit, like the first really the second

1944
01:25:15,280 --> 01:25:18,160
Speaker 1: person we ever hired at Hodinki was a full time videographer.

1945
01:25:18,520 --> 01:25:20,200
Speaker 1: So I said, who I went to Columbia with Will?

1946
01:25:20,200 --> 01:25:21,720
Speaker 1: Who's still with us? I said, actually, I got a

1947
01:25:21,800 --> 01:25:23,920
Speaker 1: video guy right here, and so we went. We were

1948
01:25:24,000 --> 01:25:25,760
Speaker 1: on Verick Street. We went over to a place called

1949
01:25:25,760 --> 01:25:27,600
Speaker 1: Little Prince, which is a little cafe there on the

1950
01:25:27,640 --> 01:25:30,680
Speaker 1: Spring or Prince rather and uh. And we walked in

1951
01:25:30,760 --> 01:25:32,280
Speaker 1: and we said, hey, I got John Mayer coming here

1952
01:25:32,280 --> 01:25:33,960
Speaker 1: in twenty minutes. Can we shoot? And they were like, sure,

1953
01:25:34,000 --> 01:25:35,560
Speaker 1: we're not open yet. We don't really care, you know,

1954
01:25:36,000 --> 01:25:38,479
Speaker 1: And so we shot for an hour, one camera, one

1955
01:25:38,560 --> 01:25:41,000
Speaker 1: never man, and we just talked about watches, no makeup,

1956
01:25:41,080 --> 01:25:44,160
Speaker 1: no anything, no, you know. His assistant wasn't there, and

1957
01:25:44,240 --> 01:25:46,479
Speaker 1: it just became Internet magic in a bottle, as things

1958
01:25:46,800 --> 01:25:48,320
Speaker 1: can happen, you know, can do well.

1959
01:25:48,320 --> 01:25:51,000
Speaker 2: It was very authentic. Here's a guy who's who's a

1960
01:25:51,120 --> 01:25:55,680
Speaker 2: rock and roll star. Yeah, this generation's Eric Clapton, singer, songwriter,

1961
01:25:55,880 --> 01:25:59,519
Speaker 2: guitarist touring with the Dead Post Jerry.

1962
01:25:59,680 --> 01:25:59,840
Speaker 1: Yeah.

1963
01:26:00,120 --> 01:26:03,280
Speaker 2: And if you find out there's a whole nother dimension

1964
01:26:03,360 --> 01:26:05,240
Speaker 2: to him, is he's really into watching.

1965
01:26:05,320 --> 01:26:06,840
Speaker 1: Oh you you really have no idea?

1966
01:26:06,960 --> 01:26:10,800
Speaker 2: So when you record this, you have any idea.

1967
01:26:10,880 --> 01:26:11,720
Speaker 1: This is going to blow up.

1968
01:26:11,800 --> 01:26:13,720
Speaker 2: Now. Look whereas you're doing you're thinking, oh, this is

1969
01:26:13,800 --> 01:26:14,360
Speaker 2: great stuff.

1970
01:26:14,400 --> 01:26:18,000
Speaker 1: It's John is an amazing person. He's the most well spoken,

1971
01:26:18,080 --> 01:26:21,200
Speaker 1: most creative, oddist thinker of anybody Herman. I say that lovingly,

1972
01:26:21,320 --> 01:26:23,080
Speaker 1: like he's just got a different mind than the rest

1973
01:26:23,120 --> 01:26:26,040
Speaker 1: of us, truly. And you know, we were recording it,

1974
01:26:26,080 --> 01:26:27,839
Speaker 1: We're like, okay, like this is going to be special

1975
01:26:28,080 --> 01:26:30,200
Speaker 1: for us. But like there's a little watch blog. Three

1976
01:26:30,240 --> 01:26:32,560
Speaker 1: guys sitting in a we work, you know, sure, and

1977
01:26:32,800 --> 01:26:34,920
Speaker 1: uh we put her online and it blows up, I

1978
01:26:35,000 --> 01:26:37,120
Speaker 1: mean just explodes. And then from there J. J. Reddick

1979
01:26:37,160 --> 01:26:38,880
Speaker 1: basketball player who was a friend of mine at the

1980
01:26:38,920 --> 01:26:40,880
Speaker 1: time as well still is and said, oh, like I

1981
01:26:40,920 --> 01:26:43,040
Speaker 1: would do that. He was into watches. And then John Goldberger,

1982
01:26:43,160 --> 01:26:45,000
Speaker 1: this great collector, and then as he's I'm sorry, and

1983
01:26:45,080 --> 01:26:47,559
Speaker 1: Jack Nicholas and you know insert. It has just been

1984
01:26:47,680 --> 01:26:48,920
Speaker 1: a run of celebrities.

1985
01:26:49,080 --> 01:26:55,200
Speaker 2: Most recently I saw Kevin hartny six, Tobias Harris, I

1986
01:26:55,360 --> 01:26:57,760
Speaker 2: just saw that was really kind of yesterday Kermit the Frog.

1987
01:26:57,920 --> 01:26:59,080
Speaker 1: That was what I was going to say. Yesterday we

1988
01:26:59,080 --> 01:27:01,160
Speaker 1: had Kermit the Frog, who I think Trump's everybody.

1989
01:27:00,920 --> 01:27:01,080
Speaker 2: Ye.

1990
01:27:02,640 --> 01:27:03,120
Speaker 1: Celebrity.

1991
01:27:03,240 --> 01:27:05,200
Speaker 2: I can't say I've ever spotted a time piece on

1992
01:27:05,320 --> 01:27:07,560
Speaker 2: his off free and wrists exactly.

1993
01:27:08,800 --> 01:27:09,080
Speaker 1: To get them.

1994
01:27:09,160 --> 01:27:13,040
Speaker 2: Especially so there is a Kermit watch from Warrist that

1995
01:27:13,520 --> 01:27:15,000
Speaker 2: and he's out promoting exactly.

1996
01:27:15,080 --> 01:27:15,840
Speaker 1: Yeah, so it was part of that.

1997
01:27:16,000 --> 01:27:18,080
Speaker 2: So the first of every month instead of a one

1998
01:27:18,160 --> 01:27:21,920
Speaker 2: showing a Kermit. So so as long as we're talking

1999
01:27:21,920 --> 01:27:25,920
Speaker 2: about it, that was shown it Watches and Wonders twenty

2000
01:27:26,000 --> 01:27:26,519
Speaker 2: twenty three.

2001
01:27:27,320 --> 01:27:28,760
Speaker 1: What did you guys see? What'd you like?

2002
01:27:28,880 --> 01:27:29,840
Speaker 2: Would you think of? Uh?

2003
01:27:30,200 --> 01:27:30,840
Speaker 1: What took place?

2004
01:27:30,960 --> 01:27:32,960
Speaker 3: I mean, I'll say this, this is my second TI

2005
01:27:32,960 --> 01:27:34,720
Speaker 3: I'm going to watch his Wonders. I had been to

2006
01:27:34,800 --> 01:27:39,280
Speaker 3: previous iterations of watch shows Bazzle World and Siah. Watches

2007
01:27:39,320 --> 01:27:41,680
Speaker 3: and Wonders kind of was the mash up, if you

2008
01:27:41,720 --> 01:27:45,640
Speaker 3: will have. Bazzle World and Siah went in dormant for

2009
01:27:45,720 --> 01:27:47,600
Speaker 3: few years of course because of COVID. Came back in

2010
01:27:47,680 --> 01:27:49,920
Speaker 3: twenty twenty two, and I think it came back with

2011
01:27:50,040 --> 01:27:52,040
Speaker 3: a bang. It was almost like this pent up energy,

2012
01:27:52,520 --> 01:27:55,920
Speaker 3: pent up, like just this big release of actual release

2013
01:27:56,000 --> 01:27:58,719
Speaker 3: of tons and tons of watches and some really incredible watches.

2014
01:27:59,200 --> 01:28:02,120
Speaker 3: I think two through there were some standout watches for sure,

2015
01:28:02,560 --> 01:28:05,600
Speaker 3: probably less across the board just wow affect than there

2016
01:28:05,680 --> 01:28:07,439
Speaker 3: wasn't twenty twenty two. I think some of that was

2017
01:28:07,520 --> 01:28:11,040
Speaker 3: that again builds up post pandemic. I mean for me

2018
01:28:11,160 --> 01:28:13,360
Speaker 3: and I will say this, and he's sitting here right

2019
01:28:13,400 --> 01:28:14,720
Speaker 3: next to me, not trying to blow a smoke, but

2020
01:28:14,800 --> 01:28:16,400
Speaker 3: like for me, one of the most special things was

2021
01:28:16,640 --> 01:28:19,160
Speaker 3: getting a chance to walk around with Ben. I'd been

2022
01:28:19,200 --> 01:28:20,599
Speaker 3: working with him at that point for a little over

2023
01:28:20,640 --> 01:28:23,519
Speaker 3: a year. A year prior I was in my third

2024
01:28:23,600 --> 01:28:25,560
Speaker 3: week and he had just had his first child, so

2025
01:28:25,640 --> 01:28:27,400
Speaker 3: he wasn't able to attend. He was at home with

2026
01:28:27,479 --> 01:28:30,120
Speaker 3: the baby. But walking around with him was really special

2027
01:28:30,160 --> 01:28:35,200
Speaker 3: because you see a lot of people who instantly recognize

2028
01:28:35,200 --> 01:28:37,439
Speaker 3: Ben come off to him. These guys, well, they say,

2029
01:28:37,840 --> 01:28:40,080
Speaker 3: they're like, you're the guy with Kermit the Frog. Now

2030
01:28:40,160 --> 01:28:43,160
Speaker 3: they say some version of the reason I'm in the

2031
01:28:43,240 --> 01:28:45,320
Speaker 3: industry is because of you, or the reason I fell

2032
01:28:45,360 --> 01:28:48,080
Speaker 3: in love with a category is because of you. And

2033
01:28:48,200 --> 01:28:51,519
Speaker 3: that's I said something to someone later that week, because

2034
01:28:51,560 --> 01:28:54,920
Speaker 3: eventually it rubs off on you. I have this association

2035
01:28:55,439 --> 01:28:58,400
Speaker 3: with Hodinki now simply by being an employee of the brand.

2036
01:28:58,479 --> 01:29:00,479
Speaker 3: For the last year, we host a kind of a

2037
01:29:00,560 --> 01:29:03,800
Speaker 3: community meet up event on the Thursday, the last night

2038
01:29:03,880 --> 01:29:06,560
Speaker 3: that many of us were in town, and we just

2039
01:29:06,680 --> 01:29:09,719
Speaker 3: did an open invite RSVP through the website through Hodinky,

2040
01:29:09,840 --> 01:29:11,760
Speaker 3: so anybody who was in town was welcome to join.

2041
01:29:12,400 --> 01:29:15,320
Speaker 3: And I must have had a dozen people at least

2042
01:29:15,439 --> 01:29:18,040
Speaker 3: saying thank you to me. And I thought, I've never

2043
01:29:18,120 --> 01:29:20,240
Speaker 3: had never worked for a brand or a business, and

2044
01:29:20,280 --> 01:29:22,799
Speaker 3: I worked for some great brands, I mean Cardier, Louisvistan

2045
01:29:22,880 --> 01:29:24,519
Speaker 3: tac Quire. Never had someone come up to me and

2046
01:29:24,560 --> 01:29:27,320
Speaker 3: say thank you, and again, credit to this guy who

2047
01:29:27,360 --> 01:29:30,479
Speaker 3: started it all that that's the impact he's had, that's

2048
01:29:30,520 --> 01:29:33,000
Speaker 3: the effect he's had, and that's the effect Hodinky has

2049
01:29:33,080 --> 01:29:35,080
Speaker 3: had as a manifestation of all that Ben's you know,

2050
01:29:35,320 --> 01:29:37,519
Speaker 3: created to this point. And now I get to sort

2051
01:29:37,520 --> 01:29:39,280
Speaker 3: of be a part of that, to be, you know,

2052
01:29:39,439 --> 01:29:43,439
Speaker 3: part of in some ways like serving this broader watch

2053
01:29:43,479 --> 01:29:48,240
Speaker 3: community and helping to kind of continue to further curiosity, knowledge, passion, enthusiasm,

2054
01:29:48,320 --> 01:29:50,720
Speaker 3: and and it's it's really a wonderful feeling for someone

2055
01:29:50,760 --> 01:29:51,800
Speaker 3: to come up to you just be like, thank you

2056
01:29:51,880 --> 01:29:52,559
Speaker 3: for all that you're doing.

2057
01:29:52,640 --> 01:29:52,800
Speaker 1: Huh.

2058
01:29:52,960 --> 01:29:55,200
Speaker 3: And we don't take that for granted. I don't take

2059
01:29:55,240 --> 01:29:57,720
Speaker 3: that for granted, certainly. I just think that's a really special.

2060
01:29:57,560 --> 01:30:01,000
Speaker 2: Yeah, that's a rare what struck you at Watches and

2061
01:30:01,080 --> 01:30:03,120
Speaker 2: Wonders Besides the Oris kerrment.

2062
01:30:03,400 --> 01:30:05,000
Speaker 1: The Oris kerment was a fun one and I think,

2063
01:30:05,040 --> 01:30:07,160
Speaker 1: you know, echoing what Jeff said, it was my first

2064
01:30:07,200 --> 01:30:09,680
Speaker 1: time there because a my daughter was born last year

2065
01:30:09,680 --> 01:30:11,200
Speaker 1: and then COVID so three years, so it's been four

2066
01:30:11,320 --> 01:30:12,760
Speaker 1: years since I was in Swiss. You've gone to the

2067
01:30:12,800 --> 01:30:15,639
Speaker 1: ones before, oh for fifteen twenty years. Yeah, So getting

2068
01:30:15,680 --> 01:30:18,559
Speaker 1: back there and seeing people still appreciate what we're still doing.

2069
01:30:18,600 --> 01:30:20,200
Speaker 1: I've been doing this for fifteen years. This is not

2070
01:30:20,360 --> 01:30:22,840
Speaker 1: like a two year old startup. So exciting to feel

2071
01:30:22,840 --> 01:30:26,200
Speaker 1: that energy and that appreciation. Again, definitely in person. But

2072
01:30:26,360 --> 01:30:28,760
Speaker 1: in terms of product, look, Langa, we've talked about a lot.

2073
01:30:28,920 --> 01:30:30,519
Speaker 1: They make some of the best watches on Earth. They

2074
01:30:30,560 --> 01:30:32,800
Speaker 1: introduced one watch and they're only doing one hundred of them,

2075
01:30:32,960 --> 01:30:35,639
Speaker 1: which is crazy. Odysseus Chronograph, It's one hundred and fifty

2076
01:30:35,640 --> 01:30:36,519
Speaker 1: thousand dollars saying.

2077
01:30:36,439 --> 01:30:40,000
Speaker 2: So flex to launch one that is a flex and

2078
01:30:40,320 --> 01:30:42,679
Speaker 2: ps gone girl hated.

2079
01:30:43,160 --> 01:30:44,639
Speaker 1: I mean, you couldn't even never hit.

2080
01:30:44,600 --> 01:30:45,360
Speaker 3: It, never hit the shot.

2081
01:30:45,400 --> 01:30:49,439
Speaker 2: But by the way, you mentioned the the blue and

2082
01:30:49,880 --> 01:30:54,960
Speaker 2: brown Daytona, which came out any other new watches. I mean,

2083
01:30:55,000 --> 01:30:58,800
Speaker 2: I understand the entire Tutor thing blew up. I'm not

2084
01:30:58,920 --> 01:31:02,679
Speaker 2: a giant Tutor fan. They just feel like they're lesser. Rolexes. Well,

2085
01:31:02,760 --> 01:31:04,240
Speaker 2: I know that's blasphemy to say.

2086
01:31:04,640 --> 01:31:07,040
Speaker 1: I mean, look, it's it's not blasphemy, but I understand it.

2087
01:31:07,160 --> 01:31:08,280
Speaker 1: I haven't a love Tutors.

2088
01:31:08,280 --> 01:31:13,000
Speaker 2: I think at don't have the same proportions. They just

2089
01:31:13,240 --> 01:31:14,439
Speaker 2: feel like they're.

2090
01:31:16,120 --> 01:31:19,840
Speaker 1: And I do it too. I tried to. I really was,

2091
01:31:20,160 --> 01:31:22,800
Speaker 1: went in to buy put them on, and it just

2092
01:31:23,040 --> 01:31:24,600
Speaker 1: kind of you gotta buy what you like, you know.

2093
01:31:25,439 --> 01:31:27,920
Speaker 1: But they had a pretty strong year. Rolex has a

2094
01:31:27,960 --> 01:31:31,280
Speaker 1: new titanium watch, the Hot Master in titanium. I really

2095
01:31:31,400 --> 01:31:33,599
Speaker 1: like that. That's cool that. I like that more than

2096
01:31:33,640 --> 01:31:36,240
Speaker 1: I thought that I would. It's big but lightweight. Patech

2097
01:31:36,360 --> 01:31:40,040
Speaker 1: had a new travel time watch. So wait, you brought

2098
01:31:40,120 --> 01:31:43,120
Speaker 1: this up? Is it possible that? How is it possible?

2099
01:31:43,280 --> 01:31:47,400
Speaker 2: Protect Philip has not introduced a brand new watch in

2100
01:31:47,560 --> 01:31:48,479
Speaker 2: twenty four years?

2101
01:31:48,680 --> 01:31:51,280
Speaker 1: How is that humanly possible? Well, I mean that's a

2102
01:31:51,320 --> 01:31:53,360
Speaker 1: little bit of parsing of word. They're a little bit

2103
01:31:53,400 --> 01:31:53,559
Speaker 1: and so.

2104
01:31:53,600 --> 01:31:56,200
Speaker 2: They're always doing variation. Yeah, so this is a new

2105
01:31:56,320 --> 01:32:00,479
Speaker 2: model line, brand new. What other industry could go two

2106
01:32:00,600 --> 01:32:03,760
Speaker 2: decades plus and not introduce a new anything.

2107
01:32:04,040 --> 01:32:06,439
Speaker 1: You know, Portia, I mean they haven't. I mean, I

2108
01:32:06,479 --> 01:32:06,960
Speaker 1: guess they did.

2109
01:32:07,000 --> 01:32:11,439
Speaker 2: The Taykan, well, the Tykan, the Panamara is fifteen years old.

2110
01:32:12,640 --> 01:32:16,439
Speaker 2: The Macan is twelve years old that they've remember. It

2111
01:32:16,560 --> 01:32:19,000
Speaker 2: was blasphemy for them to roll out in suv of

2112
01:32:19,040 --> 01:32:20,360
Speaker 2: course fifteen years ago.

2113
01:32:22,160 --> 01:32:24,160
Speaker 1: But I mean again, I mean, so like the Tykan,

2114
01:32:24,320 --> 01:32:27,000
Speaker 1: I'm sorry, the Cayenne was two was the year two thousand, right,

2115
01:32:27,080 --> 01:32:29,479
Speaker 1: so that's twenty three years ago. The Taikan, which is

2116
01:32:29,479 --> 01:32:31,559
Speaker 1: the electric car, was probably what six years ago? Five?

2117
01:32:31,800 --> 01:32:33,240
Speaker 2: You know, I think it's less than that.

2118
01:32:33,320 --> 01:32:33,559
Speaker 1: Okay.

2119
01:32:33,640 --> 01:32:36,120
Speaker 3: It's like Paul McCartney, right, he hasn't released an album

2120
01:32:36,200 --> 01:32:37,840
Speaker 3: in thirty years, but he can sell out.

2121
01:32:37,680 --> 01:32:38,080
Speaker 1: To read it.

2122
01:32:38,320 --> 01:32:40,439
Speaker 2: But if you're a Beetle, right, if you're one of

2123
01:32:40,520 --> 01:32:43,479
Speaker 2: the two surviving Beatles, you can probably the tech is

2124
01:32:43,560 --> 01:32:47,599
Speaker 2: the tech and I guess that's the parallel. So, since

2125
01:32:47,720 --> 01:32:49,680
Speaker 2: since we're talking about cars and I know you have

2126
01:32:49,800 --> 01:32:54,559
Speaker 2: to run soon, you spent the pandemic rebuilding three thirty GP.

2127
01:32:55,160 --> 01:32:57,760
Speaker 1: A slight, A slight exaggeration of my role in that.

2128
01:32:58,479 --> 01:33:00,800
Speaker 1: So I was I was working with somebody that was

2129
01:33:00,840 --> 01:33:02,600
Speaker 1: helping to do it, So I wasn't rebuilding. This was

2130
01:33:02,880 --> 01:33:06,040
Speaker 1: literally barn find a garage find it. They call her

2131
01:33:06,120 --> 01:33:08,000
Speaker 1: barn find but it was in a garage in Rome.

2132
01:33:08,560 --> 01:33:11,479
Speaker 1: That's all original, all original, untouched. It was on Bloomberg

2133
01:33:11,520 --> 01:33:13,840
Speaker 1: a few weeks ago. My friend Hannah wrote that story.

2134
01:33:14,400 --> 01:33:16,040
Speaker 2: So he's been a guest here a couple of times,

2135
01:33:17,560 --> 01:33:20,360
Speaker 2: so she was actually I actually visited her and Magnus

2136
01:33:20,520 --> 01:33:22,559
Speaker 2: in their shop in La It's.

2137
01:33:23,320 --> 01:33:26,559
Speaker 1: So tying it all together. Hannah was actually my editor

2138
01:33:26,600 --> 01:33:29,839
Speaker 1: at one of my very first freelance jobs for Forbes exactly,

2139
01:33:29,920 --> 01:33:33,000
Speaker 1: but not for watches. She was editing a literary blog,

2140
01:33:33,040 --> 01:33:35,679
Speaker 1: like a book blog. I was writing for that unpaid.

2141
01:33:35,880 --> 01:33:38,639
Speaker 1: Oh that's crazy, but I just wanted I wanted to buy. Yeah,

2142
01:33:39,560 --> 01:33:41,960
Speaker 1: so she's amazing. But yeah, So I'm really in the cars,

2143
01:33:42,000 --> 01:33:44,600
Speaker 1: and I spent a little bit of time and a

2144
01:33:44,640 --> 01:33:47,400
Speaker 1: lot of money doing that during during COVID. But that's

2145
01:33:47,439 --> 01:33:50,080
Speaker 1: what I'm into. I'm intofying these things that have direct

2146
01:33:50,080 --> 01:33:52,479
Speaker 1: connections with interesting people and keeping them going.

2147
01:33:52,560 --> 01:33:54,200
Speaker 2: What other cars are you playing with?

2148
01:33:56,160 --> 01:33:58,800
Speaker 1: I've got drive an E thirty nine five almost every day,

2149
01:34:00,240 --> 01:34:00,760
Speaker 1: so I know.

2150
01:34:00,920 --> 01:34:04,519
Speaker 2: The spe convertible six. I the last year they made

2151
01:34:04,960 --> 01:34:07,240
Speaker 2: the sticks and I couldn't find it. I had to

2152
01:34:07,439 --> 01:34:10,200
Speaker 2: fly out to Indianapolis test drive it, and then my

2153
01:34:10,280 --> 01:34:11,400
Speaker 2: wife and I drove it home.

2154
01:34:11,479 --> 01:34:11,880
Speaker 1: That's fun.

2155
01:34:11,960 --> 01:34:14,040
Speaker 2: Stopping off at Falling Water is the first day they

2156
01:34:14,040 --> 01:34:14,800
Speaker 2: were open for the season.

2157
01:34:14,800 --> 01:34:16,840
Speaker 1: I'm not kidding. I did that in a GT three touring.

2158
01:34:16,920 --> 01:34:18,920
Speaker 1: I stopped off at Falling Water. Yeah, truly.

2159
01:34:19,520 --> 01:34:21,680
Speaker 2: I have a client that has a GT three that

2160
01:34:22,080 --> 01:34:25,000
Speaker 2: he wanted to sell, and the dealer said, give to us.

2161
01:34:25,040 --> 01:34:28,280
Speaker 2: We'll take a twenty percent consignment. I'm like, we know

2162
01:34:28,360 --> 01:34:30,439
Speaker 2: people that bring a trailer, let me list it for you.

2163
01:34:30,600 --> 01:34:32,880
Speaker 1: So that's what we're That's that's really funny. GT three

2164
01:34:33,000 --> 01:34:33,439
Speaker 1: stick Ship.

2165
01:34:33,920 --> 01:34:36,960
Speaker 2: It was the touring right, no wing, but the stick,

2166
01:34:37,000 --> 01:34:40,479
Speaker 2: which is now becoming increasingly rare. We were there the

2167
01:34:40,560 --> 01:34:43,160
Speaker 2: first day it was open, and I'm driving this six

2168
01:34:43,320 --> 01:34:46,840
Speaker 2: hundred horsepower monster and there's like a light dusting of snow,

2169
01:34:47,240 --> 01:34:50,680
Speaker 2: so I am like feathering the throttle because with just

2170
01:34:50,840 --> 01:34:54,080
Speaker 2: the slightest touch you're going sidew so but it was

2171
01:34:54,160 --> 01:34:56,439
Speaker 2: spect what a spectacular place.

2172
01:34:56,720 --> 01:34:58,040
Speaker 1: It really is. Nowhere it really is.

2173
01:34:58,479 --> 01:35:03,280
Speaker 2: It's amazing in into Porscha's you know, stuff here and there,

2174
01:35:03,840 --> 01:35:08,040
Speaker 2: so a little blasphemy. I have two nine to eleven's.

2175
01:35:08,080 --> 01:35:10,960
Speaker 2: One I'm keeping stock. That's a cabrio. By the way,

2176
01:35:12,000 --> 01:35:14,439
Speaker 2: before they went crazy, I picked these up for pennies

2177
01:35:15,200 --> 01:35:19,080
Speaker 2: and I have so the eighty seven is in a cabrio.

2178
01:35:19,320 --> 01:35:21,320
Speaker 2: The I'm sorry, the eighty eight is a cabrio. The

2179
01:35:21,400 --> 01:35:24,720
Speaker 2: eighty seven is a three hundred thousand mile car that

2180
01:35:25,120 --> 01:35:29,439
Speaker 2: I'm pulling the engine and the transmission out, dropping Tesla

2181
01:35:29,560 --> 01:35:33,120
Speaker 2: motor and completely kidder a nine to eleven E with

2182
01:35:33,479 --> 01:35:35,320
Speaker 2: Moment Motors in Austin.

2183
01:35:35,439 --> 01:35:36,360
Speaker 1: That's cool.

2184
01:35:36,439 --> 01:35:39,679
Speaker 2: And I've been on the weight so all these guys

2185
01:35:39,720 --> 01:35:42,080
Speaker 2: are booked a year, Yeah, Valley, I've been on the

2186
01:35:42,120 --> 01:35:45,120
Speaker 2: wait list for almost a year. It goes down to Texas.

2187
01:35:45,560 --> 01:35:49,040
Speaker 2: By the time this broadcast, it should be in Texas

2188
01:35:49,520 --> 01:35:53,439
Speaker 2: getting a heart transplant. And that's kind of a funny.

2189
01:35:53,960 --> 01:35:55,120
Speaker 1: And by the time I'm done, I.

2190
01:35:55,600 --> 01:35:57,519
Speaker 2: Would have been able to walk into a dealer and

2191
01:35:57,600 --> 01:36:00,080
Speaker 2: say give me that nine to eleven for what this

2192
01:36:00,120 --> 01:36:03,320
Speaker 2: will ends up costing. But it'll be the only electric

2193
01:36:03,479 --> 01:36:06,080
Speaker 2: nine to eleven in New York by the time It's

2194
01:36:06,160 --> 01:36:09,320
Speaker 2: done super cool. So if you're a BMW and a

2195
01:36:09,360 --> 01:36:13,920
Speaker 2: Porsche fan, I feel your your your taste. The one

2196
01:36:14,000 --> 01:36:16,639
Speaker 2: thing I have to ask in terms of Grail watches,

2197
01:36:17,439 --> 01:36:21,000
Speaker 2: so the and I'm not just a longa person, but

2198
01:36:22,000 --> 01:36:24,560
Speaker 2: the and I am going to mangle the pronunciation. The

2199
01:36:26,439 --> 01:36:29,880
Speaker 2: hand work best stuns anork s guns step tourbiyon. Yeah,

2200
01:36:30,080 --> 01:36:33,759
Speaker 2: that just has the numbers and that sort of carved.

2201
01:36:33,920 --> 01:36:37,320
Speaker 1: Yeah. The aperture at six, Yeah, what the hell does

2202
01:36:37,400 --> 01:36:37,760
Speaker 1: that thing go?

2203
01:36:37,880 --> 01:36:37,920
Speaker 2: For?

2204
01:36:38,120 --> 01:36:38,519
Speaker 1: The stage?

2205
01:36:38,560 --> 01:36:40,960
Speaker 2: You, by the way, complete you can't see them anywhere.

2206
01:36:41,280 --> 01:36:43,960
Speaker 2: If I saw one was somewhere at auction I found

2207
01:36:44,000 --> 01:36:48,679
Speaker 2: out about afterwards, I would I would ballpark three hundred, okay, yeah,

2208
01:36:49,479 --> 01:36:52,000
Speaker 2: and that was eighty ninety when it came out.

2209
01:36:52,439 --> 01:36:54,960
Speaker 1: Probably more. I mean if I know a website that

2210
01:36:55,000 --> 01:36:56,360
Speaker 1: would probably be able to tell you. I think we

2211
01:36:56,479 --> 01:36:57,600
Speaker 1: covered it. I know we covered it.

2212
01:36:57,640 --> 01:36:59,600
Speaker 2: When I came out a buck and change, Yeah, I

2213
01:36:59,600 --> 01:37:02,439
Speaker 2: would get one forty oh so it's only double.

2214
01:37:03,160 --> 01:37:05,720
Speaker 1: But those are those are the airs thin in that world.

2215
01:37:05,760 --> 01:37:07,840
Speaker 2: Like I saw one of those go for about two

2216
01:37:07,920 --> 01:37:11,479
Speaker 2: hundred about a year ago. And again I'm still wrestling

2217
01:37:11,520 --> 01:37:14,200
Speaker 2: with a thirty forty thousand I'll watch two hundred is

2218
01:37:14,360 --> 01:37:15,519
Speaker 2: like next level.

2219
01:37:15,760 --> 01:37:18,120
Speaker 1: Yeah, it's just I mean, it's just said earlier, really

2220
01:37:18,160 --> 01:37:20,719
Speaker 1: earliest in this in this session, like it's just applying

2221
01:37:20,760 --> 01:37:22,560
Speaker 1: to man, there's a lot more guys that want a

2222
01:37:22,600 --> 01:37:24,720
Speaker 1: Nautilus or an aquanat yeah, because they know what it is,

2223
01:37:24,800 --> 01:37:27,639
Speaker 1: or Daytona. Nobody's ever heard of a Handrick skin turbion

2224
01:37:27,680 --> 01:37:29,519
Speaker 1: from longag even if it is that much.

2225
01:37:29,600 --> 01:37:32,320
Speaker 2: Oh my god, that could be the like if I

2226
01:37:32,400 --> 01:37:33,640
Speaker 2: have a rail watch, that's it.

2227
01:37:34,200 --> 01:37:36,519
Speaker 1: And once I do that, then I just you know,

2228
01:37:36,640 --> 01:37:39,519
Speaker 1: you've done it. Probably not where do you go from that?

2229
01:37:39,880 --> 01:37:40,200
Speaker 1: I mean that.

2230
01:37:40,560 --> 01:37:43,719
Speaker 2: So that's listen, that's the same problem with the Grand

2231
01:37:43,840 --> 01:37:47,600
Speaker 2: Longo one. Where do you go from there? It just

2232
01:37:47,760 --> 01:37:51,920
Speaker 2: you just struck going full OCD and backfilling and it's crazy.

2233
01:37:52,080 --> 01:37:54,160
Speaker 1: So I have a bone to pick with you guys.

2234
01:37:54,960 --> 01:37:57,479
Speaker 2: I'm speaking at some event in Aspen. It was the

2235
01:37:57,760 --> 01:38:00,680
Speaker 2: International Luxury real Estate and I've been about real estate

2236
01:38:00,760 --> 01:38:04,600
Speaker 2: my whole career. So they invited me, and you know,

2237
01:38:04,760 --> 01:38:07,280
Speaker 2: they say, get there a day or so early because

2238
01:38:07,439 --> 01:38:10,240
Speaker 2: the altitude is you know, you don't want to stand up.

2239
01:38:10,280 --> 01:38:13,320
Speaker 2: And if you've been to Vail, it's the same sort

2240
01:38:13,360 --> 01:38:14,920
Speaker 2: of thing sor right, I get there, I get a

2241
01:38:15,000 --> 01:38:18,720
Speaker 2: day to kill and I go into Aspen and what

2242
01:38:18,920 --> 01:38:21,640
Speaker 2: is this a Langan Zone shop? So I go in

2243
01:38:21,960 --> 01:38:25,000
Speaker 2: and I see the Langa one, which is their famous

2244
01:38:25,080 --> 01:38:29,639
Speaker 2: nineteen ninety four watch that's asymmetrical, which was a radical

2245
01:38:29,720 --> 01:38:33,599
Speaker 2: departure from Marches, and I think there's just like March April.

2246
01:38:34,280 --> 01:38:38,439
Speaker 2: And I get back home and I don't know if

2247
01:38:38,479 --> 01:38:41,280
Speaker 2: you've ever experienced this. You see a watch and it

2248
01:38:41,439 --> 01:38:45,120
Speaker 2: just starts to haunt you again. Yes, right, we're talking

2249
01:38:45,120 --> 01:38:47,320
Speaker 2: about Yeah, I'm thinking about it. I'm thinking about it.

2250
01:38:47,439 --> 01:38:49,839
Speaker 2: I have a big round birthday coming up in October,

2251
01:38:50,320 --> 01:38:52,760
Speaker 2: and so I make an appointment to go into the

2252
01:38:52,840 --> 01:38:57,160
Speaker 2: Langa boutique in New York and I try on the

2253
01:38:57,240 --> 01:39:00,400
Speaker 2: longer one and look, I'm not a little guy mill

2254
01:39:01,200 --> 01:39:02,240
Speaker 2: What is this a toy?

2255
01:39:02,760 --> 01:39:05,960
Speaker 1: I need a real watch. And so the woman says, oh,

2256
01:39:06,040 --> 01:39:09,400
Speaker 1: we have the grand Langa one, sure, and I try on.

2257
01:39:10,960 --> 01:39:13,560
Speaker 2: It wasn't the one I fell in love with, and

2258
01:39:13,640 --> 01:39:16,000
Speaker 2: it wasn't the one I ultimately really wanted.

2259
01:39:16,080 --> 01:39:17,320
Speaker 1: But have a bone to pick with you.

2260
01:39:18,200 --> 01:39:21,640
Speaker 2: It was it was a Grand Langa but without the

2261
01:39:21,760 --> 01:39:25,720
Speaker 2: moonface and that sort of chocolate, silver gray. I don't

2262
01:39:25,720 --> 01:39:30,200
Speaker 2: even know how to describe the color. Sure, And so

2263
01:39:30,400 --> 01:39:33,080
Speaker 2: I start looking around and looking around, and now I

2264
01:39:33,320 --> 01:39:37,759
Speaker 2: find I find the Saxonia with the moonface black watch

2265
01:39:37,960 --> 01:39:41,000
Speaker 2: pink face, and I'm waiting on I'm trying to decide

2266
01:39:41,040 --> 01:39:43,960
Speaker 2: if I want that, And then I see the platinum

2267
01:39:45,080 --> 01:39:46,960
Speaker 2: Grand Langa one. What is that?

2268
01:39:47,120 --> 01:39:49,599
Speaker 1: Forty one and a half something like that? Yeah, exactly,

2269
01:39:49,840 --> 01:39:53,320
Speaker 1: and and it's on you.

2270
01:39:53,479 --> 01:39:58,000
Speaker 2: It's sixty six new but new papers box on Hodinky

2271
01:39:58,120 --> 01:40:00,960
Speaker 2: forty two, and I'm trying really hard to wrap my

2272
01:40:00,960 --> 01:40:01,800
Speaker 2: head around forty two.

2273
01:40:01,800 --> 01:40:03,519
Speaker 1: It's a lot of money for a watch, yeah, and

2274
01:40:03,680 --> 01:40:04,040
Speaker 1: I can.

2275
01:40:04,000 --> 01:40:06,320
Speaker 2: Afford it, but it's it's just a lot of money.

2276
01:40:06,800 --> 01:40:08,200
Speaker 2: So I make the decision.

2277
01:40:08,479 --> 01:40:09,040
Speaker 1: I don't remember.

2278
01:40:09,040 --> 01:40:10,920
Speaker 2: It was like the end of August or the end

2279
01:40:10,960 --> 01:40:13,200
Speaker 2: of September. Hey, my birthday is in October.

2280
01:40:13,760 --> 01:40:14,320
Speaker 1: I'm gonna go.

2281
01:40:14,400 --> 01:40:17,800
Speaker 2: Get that watch on my birthday, even though it's gonna

2282
01:40:17,880 --> 01:40:19,880
Speaker 2: kill me to spend that much money. Yeah, just it's

2283
01:40:20,360 --> 01:40:23,320
Speaker 2: I have way too many cars, I have a bud like,

2284
01:40:23,439 --> 01:40:25,960
Speaker 2: I'm not afraid to spend money, but to strap a

2285
01:40:26,040 --> 01:40:29,839
Speaker 2: BMW on your wrist, you have to mentally brace yourself

2286
01:40:29,880 --> 01:40:33,120
Speaker 2: for that so my birthday rolls around and I I'm

2287
01:40:33,160 --> 01:40:34,880
Speaker 2: gonna do it, and I go to the whole dinky

2288
01:40:34,960 --> 01:40:39,679
Speaker 2: stot gone and not only is it gone, you can't

2289
01:40:39,720 --> 01:40:43,000
Speaker 2: find them for sale anywhere. Wow, they just have disappeared.

2290
01:40:43,400 --> 01:40:45,360
Speaker 2: I have Buddies on forty seventh Street and I'm like,

2291
01:40:45,760 --> 01:40:47,920
Speaker 2: find me a Grand Laga one the I think it's

2292
01:40:48,000 --> 01:40:49,439
Speaker 2: the one thirty five twenty five.

2293
01:40:49,760 --> 01:40:51,439
Speaker 1: We should talk off air, yah yah. Yeah.

2294
01:40:52,240 --> 01:40:55,479
Speaker 2: So so you can find them new in Switzerland for

2295
01:40:55,640 --> 01:40:59,000
Speaker 2: retail and you still have to pay like a nine percent.

2296
01:41:00,040 --> 01:41:06,920
Speaker 2: It's insane. So this was my other longa chop which,

2297
01:41:07,000 --> 01:41:11,840
Speaker 2: by the way, this is even more dressy than the Platinum.

2298
01:41:12,160 --> 01:41:15,600
Speaker 2: That's almost like a sporty version that watch. And I

2299
01:41:15,960 --> 01:41:17,800
Speaker 2: don't want to order it from a site I'm not

2300
01:41:17,880 --> 01:41:20,840
Speaker 2: familiar with. Ye, And it turns out that the guys

2301
01:41:20,880 --> 01:41:23,960
Speaker 2: that have this watch are an Aventura. I'm at a

2302
01:41:24,040 --> 01:41:27,200
Speaker 2: different conference in Miami, and I do my gig. I

2303
01:41:27,320 --> 01:41:31,040
Speaker 2: come literally off the stage into an uber run to Aventura,

2304
01:41:31,240 --> 01:41:33,679
Speaker 2: look at the watch. They wouldn't take a credit card,

2305
01:41:34,200 --> 01:41:36,760
Speaker 2: but I mean it's a whole room full of well

2306
01:41:36,800 --> 01:41:38,320
Speaker 2: if they take a credit card, they could charge a

2307
01:41:38,320 --> 01:41:40,360
Speaker 2: credit card for you, blah blah blah. But they weren't

2308
01:41:40,400 --> 01:41:43,599
Speaker 2: set up to do it there, and so get home

2309
01:41:43,840 --> 01:41:46,080
Speaker 2: wired and the next day the watch showed up. So

2310
01:41:46,240 --> 01:41:49,240
Speaker 2: this is my I couldn't get my grin langa one

2311
01:41:50,040 --> 01:41:53,360
Speaker 2: but and it was forty two. And I'm like, now,

2312
01:41:53,760 --> 01:41:55,440
Speaker 2: how often you kick yourself.

2313
01:41:55,160 --> 01:41:57,479
Speaker 1: With ye all the time? Yeah? Runs out all the time.

2314
01:41:57,479 --> 01:42:00,160
Speaker 2: We can help get that watch even and the the

2315
01:42:00,840 --> 01:42:02,400
Speaker 2: other Daytona. And I don't want to make this all

2316
01:42:02,439 --> 01:42:07,280
Speaker 2: about my watch shopping, so so I do this with cars. Yeah,

2317
01:42:07,720 --> 01:42:10,439
Speaker 2: I have way too many cars. I'll watch a car

2318
01:42:10,640 --> 01:42:13,200
Speaker 2: come out, I'll watch the price wobble, and I'm like,

2319
01:42:13,360 --> 01:42:17,640
Speaker 2: come to Papa a little lower. And I bought a

2320
01:42:17,720 --> 01:42:20,759
Speaker 2: couple of nice things during the beginning of the pandemic

2321
01:42:20,840 --> 01:42:24,000
Speaker 2: when people are freaking out, and I'm looking at the

2322
01:42:24,160 --> 01:42:28,400
Speaker 2: Daytona in the white, golden blue face, which was I

2323
01:42:28,680 --> 01:42:32,439
Speaker 2: think twenty six, twenty eight retail, it was twenty, it

2324
01:42:32,520 --> 01:42:35,920
Speaker 2: was nineteen, it was eighteen. I'm buyer at sixteen and

2325
01:42:36,400 --> 01:42:39,559
Speaker 2: then the lockdown happens and it's forty five, fifty five,

2326
01:42:39,720 --> 01:42:43,639
Speaker 2: sixty five. It just goes nuts. I'm like, for two grand,

2327
01:42:43,680 --> 01:42:44,160
Speaker 2: and look.

2328
01:42:44,040 --> 01:42:46,240
Speaker 1: What you did? You free. Nobody ever could have guessed though.

2329
01:42:46,400 --> 01:42:50,120
Speaker 2: Yeah, so hold aside these million dollar watches, these one

2330
01:42:50,200 --> 01:42:54,400
Speaker 2: hundred thousand dollars watches, A newbie interested in watches, how

2331
01:42:54,479 --> 01:42:56,479
Speaker 2: did they get involved in watch collecting?

2332
01:42:56,960 --> 01:42:58,560
Speaker 1: Where would you send somebody like that?

2333
01:43:00,120 --> 01:43:00,280
Speaker 2: Really?

2334
01:43:00,680 --> 01:43:02,519
Speaker 3: I think, you know, kind of riffing off of something

2335
01:43:02,640 --> 01:43:07,320
Speaker 3: Ben said earlier, which is this kind of there's a

2336
01:43:07,400 --> 01:43:10,120
Speaker 3: sense of like the imitation culture, like you want something

2337
01:43:10,160 --> 01:43:14,320
Speaker 3: because you see other people having. For me, I personally

2338
01:43:14,400 --> 01:43:16,400
Speaker 3: think the best way to build a collection is just

2339
01:43:16,520 --> 01:43:21,200
Speaker 3: really follow your passion. Get out there, educate yourself, learn read,

2340
01:43:22,400 --> 01:43:26,200
Speaker 3: visit a few retailers, you know, maybe maybe check out

2341
01:43:26,200 --> 01:43:29,719
Speaker 3: an auction, you know, catalog to see what's what's considered

2342
01:43:29,800 --> 01:43:32,479
Speaker 3: to have a history or provenance of Just do your

2343
01:43:32,520 --> 01:43:34,479
Speaker 3: research and then ultimately, you know, pick something that.

2344
01:43:34,520 --> 01:43:35,320
Speaker 1: Really speaks to you.

2345
01:43:36,439 --> 01:43:39,760
Speaker 3: If there's a way to again weave some sort of

2346
01:43:39,840 --> 01:43:43,519
Speaker 3: milestone or personal aspect into the watch. I think one

2347
01:43:43,560 --> 01:43:45,639
Speaker 3: thing I often think about is, of all the things

2348
01:43:45,720 --> 01:43:47,519
Speaker 3: you put on your person, a watch is one of

2349
01:43:47,560 --> 01:43:49,800
Speaker 3: the very few that will actually typically have a story

2350
01:43:49,880 --> 01:43:52,720
Speaker 3: associated to it, like your sneakers, your jeans, or your

2351
01:43:52,760 --> 01:43:55,240
Speaker 3: sweater typically will not. So I don't know, then there's

2352
01:43:55,240 --> 01:43:57,200
Speaker 3: something just special about that. Like like Ben said, they're

2353
01:43:57,240 --> 01:43:59,639
Speaker 3: sort of like totems of our lives in some way,

2354
01:43:59,680 --> 01:44:02,759
Speaker 3: and a collector, I think, you know, we'll always remember

2355
01:44:02,960 --> 01:44:05,040
Speaker 3: her his first watch. I think it's just, you know,

2356
01:44:05,320 --> 01:44:06,760
Speaker 3: it's worth it to take the time to do the

2357
01:44:06,840 --> 01:44:09,000
Speaker 3: research and really wait for that thing that so to

2358
01:44:09,040 --> 01:44:09,720
Speaker 3: speaks your name.

2359
01:44:10,000 --> 01:44:12,240
Speaker 1: Yeah, and I would certainly echo all that, but I

2360
01:44:12,280 --> 01:44:15,200
Speaker 1: would also say listen to actual experts in a field,

2361
01:44:15,320 --> 01:44:17,160
Speaker 1: not the guy you found on YouTube or the gal

2362
01:44:17,240 --> 01:44:19,800
Speaker 1: you found on Instagram or TikTok. There's so many people

2363
01:44:19,880 --> 01:44:22,040
Speaker 1: out there that are purporting to be experts in this space,

2364
01:44:22,360 --> 01:44:25,040
Speaker 1: mostly on social media, YouTube, TikTok, etcetera, that have no idea.

2365
01:44:25,040 --> 01:44:26,920
Speaker 1: I mean, they're just kids that think they understand things.

2366
01:44:27,120 --> 01:44:28,599
Speaker 1: And to be clear, I was one of those kids.

2367
01:44:28,640 --> 01:44:30,720
Speaker 1: I've since put in fifteen years to ensure that I'm

2368
01:44:30,760 --> 01:44:32,880
Speaker 1: not one of those kids. And there are people out

2369
01:44:32,920 --> 01:44:34,760
Speaker 1: there that really know watches, and then there are people

2370
01:44:34,760 --> 01:44:37,880
Speaker 1: out there that really don't and pretend to understand the source.

2371
01:44:37,920 --> 01:44:39,960
Speaker 1: I mean, going back to journalism school, like know your source,

2372
01:44:40,120 --> 01:44:42,719
Speaker 1: know who's saying what and why, know who's a retailer,

2373
01:44:42,760 --> 01:44:44,960
Speaker 1: of so and so, you know who owns twenty of these,

2374
01:44:45,000 --> 01:44:47,200
Speaker 1: so they're trying to build it up. Really understand why

2375
01:44:47,280 --> 01:44:48,559
Speaker 1: people are saying things that they.

2376
01:44:48,479 --> 01:44:51,560
Speaker 2: Are, and any particular brands you would send people, Just

2377
01:44:51,840 --> 01:44:54,800
Speaker 2: like I always tell people someone asked me about to watch,

2378
01:44:54,840 --> 01:44:56,400
Speaker 2: I'm like, hey, go look at Saco.

2379
01:44:56,560 --> 01:44:57,280
Speaker 1: Say if you're.

2380
01:44:57,120 --> 01:44:58,840
Speaker 2: Wrong, YEA, spend four hundred dollars.

2381
01:44:59,120 --> 01:45:02,040
Speaker 1: Yeah, Sekos Watch System fifty one self finding watch for

2382
01:45:02,120 --> 01:45:04,320
Speaker 1: one hundred and fifty bucks. We sell them on Hoodinky.

2383
01:45:04,320 --> 01:45:05,479
Speaker 1: They're amazing, they really are.

2384
01:45:06,080 --> 01:45:08,160
Speaker 2: And and the next step from there, and then we'll

2385
01:45:08,160 --> 01:45:11,519
Speaker 2: go then then Hamilton, Hamilton field Watches really handsome. Wow,

2386
01:45:11,680 --> 01:45:15,240
Speaker 2: great watch, solid, solid, long lasting. I agree, all right,

2387
01:45:15,360 --> 01:45:16,680
Speaker 2: Now I'm going to take you one last one. I

2388
01:45:16,760 --> 01:45:19,360
Speaker 2: keep saying last one. So you go past Hamilton, where

2389
01:45:19,360 --> 01:45:19,600
Speaker 2: do you go?

2390
01:45:19,760 --> 01:45:22,040
Speaker 1: Tag tag Hoyer, Uh huh, you know a Tag Hoyer,

2391
01:45:22,120 --> 01:45:24,639
Speaker 1: Aqua Racer, a Tag Hoyer, Monaco.

2392
01:45:24,760 --> 01:45:26,920
Speaker 2: Even those are great watches. Carreras, they're a little bit

2393
01:45:26,960 --> 01:45:30,040
Speaker 2: more money, but great watches. Great, Jeff, anything from.

2394
01:45:29,880 --> 01:45:32,599
Speaker 3: You, I would say, you know, I love the Hamilton pick.

2395
01:45:32,640 --> 01:45:35,320
Speaker 3: I think the Hamilton field Watch is like a total classic.

2396
01:45:35,760 --> 01:45:38,439
Speaker 2: I bought their new Krono by the way, is really

2397
01:45:38,600 --> 01:45:42,439
Speaker 2: crazy handsome for what it is. Yeah, and very reasonably priced. Yeah.

2398
01:45:42,800 --> 01:45:45,000
Speaker 3: I bought the Field watch for my brother and one

2399
01:45:45,080 --> 01:45:47,519
Speaker 3: for myself kind of when I joined Hodinky as a

2400
01:45:47,720 --> 01:45:50,439
Speaker 3: nice little celebration of that moment. And then if I

2401
01:45:50,479 --> 01:45:52,880
Speaker 3: were going to go one level, I'd say the Tutor

2402
01:45:52,920 --> 01:45:55,040
Speaker 3: black Bay fifty eight, and we talked a little bit about.

2403
01:45:56,520 --> 01:45:57,680
Speaker 1: Nine to keep up.

2404
01:45:57,760 --> 01:45:59,680
Speaker 3: For me, it's perfect kind of size, it's it's a

2405
01:45:59,720 --> 01:46:00,840
Speaker 3: great everyday watch.

2406
01:46:01,479 --> 01:46:03,880
Speaker 2: They have a very vintage vibe to it. That's kind

2407
01:46:03,920 --> 01:46:07,600
Speaker 2: of what attracted me to them. Guys, thank you so

2408
01:46:07,720 --> 01:46:10,840
Speaker 2: much for such a generous spot with your time. Next

2409
01:46:10,880 --> 01:46:13,120
Speaker 2: time we do this, I'll have a camera crew, we'll

2410
01:46:13,120 --> 01:46:15,800
Speaker 2: do talking watch U I'll just do I'll just grab

2411
01:46:15,880 --> 01:46:19,200
Speaker 2: a dozen watches from people here and thank you guys

2412
01:46:19,280 --> 01:46:22,320
Speaker 2: for being so generous with your time. If you enjoy

2413
01:46:22,439 --> 01:46:24,880
Speaker 2: this conversation, well, be sure and check out any of

2414
01:46:24,920 --> 01:46:28,760
Speaker 2: the previous four hundred and ninety three such discussions we've

2415
01:46:28,840 --> 01:46:33,080
Speaker 2: had over the previous nine years. You can find those

2416
01:46:33,360 --> 01:46:37,719
Speaker 2: at YouTube, iTunes, Spotify, or wherever you find.

2417
01:46:37,520 --> 01:46:38,680
Speaker 1: Your favorite podcasts.

2418
01:46:39,600 --> 01:46:42,679
Speaker 2: Sign up for my daily reading list at ridults dot com.

2419
01:46:43,120 --> 01:46:46,600
Speaker 2: Follow me on Twitter, at rid Holts follow all of

2420
01:46:46,720 --> 01:46:50,880
Speaker 2: the Bloomberg Family of podcasts on Twitter at podcasts. I

2421
01:46:50,960 --> 01:46:52,920
Speaker 2: would be remiss if I did not thank the correct

2422
01:46:52,960 --> 01:46:57,240
Speaker 2: team that helps put these conversations together each week. Paris

2423
01:46:57,360 --> 01:47:01,479
Speaker 2: Wold is my producer. Samantha Danziger is my audio engineer.

2424
01:47:01,640 --> 01:47:05,479
Speaker 2: Sean Russo is my researcher. At Teak of al Bron

2425
01:47:05,600 --> 01:47:09,040
Speaker 2: is my project manager. I'm Barry Ridolts. You're listening to

2426
01:47:09,160 --> 01:47:11,639
Speaker 2: Masters in Business on Bloomberg Radio.