Watch Collecting for 2023, Setting your Goals for the New Year
As the clichés saying goes, as the year comes to a close, it is time for us to reflect on the last 12 months. One should take the time to see all the things one has accomplished, and perhaps set some goals for the next year. Now, if we move away from the cliché a bit, it is well known that many collectors of watches set goals for themselves each year. Many set goals for what they want their collections to look like, and possible additions (or subtractions) from their collections they would like to make.
It has been a turbulent year globally, nonetheless, there are probably many collectors out there satisfied with the reflections they have done about their collectors journey for 2022. 2023 is a brand new year, full of potential watches and collection adjustments one could make. Hopefully this article will get the collectors mind going on ways to evaluate their collection, and specific ways to set goals for their future collection.
Stick on the path you have forged
A collection is a journey. One can very easily fall in love with a watch, or series of watches, that they want to be the foundation for their collection. But, sometimes these types of collections take years to research, source and acquire. If one is a collector who is saving up for a grail Patek Philippe, or wants to collect many variations of the Rolex Submariner, stick to those goals. It can often times feel tough to stick to your principle and focus on the goals you have. But hey, Rome wasn’t built in a day. It is important to not get distracted from your goals, so try and fill your time with things like Podcasts, books and YouTube videos to keep you entertained. So long as you don’t get tempted by what you hear, read or watch!
Add to the collection
It is always smart for a collector to step back and evaluate ones collections after a year of change. You have the opportunity to see gaps in your collection. Are you missing a specific complication? Are you missing a reference that would complete your set? Is there an era you find facilitating that you want represented in your collection? These are all questions that can help lead you in the direction of figuring out what is the next piece to join your watch box.
It can also be important to reflect on your recent interests. It is no secret that independent watchmakers have become more popular. But maybe you discovered a brand, complication, or era that excited you this year. Conducting this reflection can give you meaningful insight into what is next.
Getting rid of/replacing parts of a collection
As collectors you probably are never content. If you have that collector gene, it’s tough sitting back and saying to yourself that you have everything you wanted or needed. Similarly to making additions to your collection, reflecting on what you have in your collector and being critical can open doors for you this next year. Maybe it was an impulse purchase that really wasn’t necessary but you were itching for something new, or lost out on something you really wanted so you decided that the watch was the next best alternative.
Whatever the story, reflecting on what isn’t necessary to be in the collection, what may not fit where your collectors journey is going, or what just is not up to scratch (whether that is condition, complication, etc.). Now, this can be a difficult thing to do. One is basically coming to the realization that maybe they made a mistake in their journey of collecting watches. One would do well to remember that knowing you made a mistake means that watch was able to teach an important lesson - so it’s not really a mistake. A common example of this is where a collector might have sacrificed on the condition of a watch they purchased because of the scarcity of that specific reference. Take a look at the collection, and see if this applies to you.
Be open-minded and take the year as it comes
Some collectors might just want to see what happens this year, and that is great. There are ways to make sure you keep a pulse on what is happening, watches that are available, and what comes up this year. So instead of making watch collecting goals focused on specific pieces, how about on ways to further your education? Research - read books, listen to podcasts, and watch YouTube videos. Visit museums with interesting collections of time keepers. You never know if the next thing you purchase is a pocket watch or clock. Attend watch events at boutiques of exhibits held in cities around the world. Keep a pulse on auctions and the watches they are offering. There is so much to keep your mind busy with, and also give you opportunities for potential changes to your collecting journey.
2023 is a long year (even though it’s more or less the same length as every other year before it), so there is plenty of time to work towards one’s collecting goals. These things change too, so being be prepared to pivot as you continue to explore what so many of us love.
Enjoy!
