Part 1: The Luxury of Slow Time
The Older the Better
The notion that slowness comes into direct conflict with the values of our digital economy is of course not true for all luxury goods and services. Over the years we have helped many clients with epicurean and hand-crafted products use the terms “slow-cured” or “handmade” to translate a value of time being applied to a product which benefits from the aging process. Fine wines, whiskey, cheeses and cigars all benefit from having been held back, forcing us to wait for the ultimate experience at the height of their fullness.
When new products and technologies are being released on an almost daily schedule, the allure of a special and rare thing of worth or beauty from the past seems even more attractive. Practically anything Vintage sounds more interesting. There is a story there, a history and context to the past of an object. “So why buy vintage? Often the impetus is fueled by the excitement of the hunt. It is easy to find current pieces in your local mall or online site, but shopping for vintage is an unparalleled treasure hunt.” -Jennifer Baumgartner Psy.D., remarked in a Psychology Today article titled “The Psychology of Vintage”.
Vintage watches, by some estimates, have become a $3 billion market with the value of some watches soaring in recent years. “I remember in 1990 a dealer came in with hundreds of Daytonas, the good ones from the ’60s,” says Daryn Schnipper, chairman of Sotheby’s international watch division, “At the time they were worth $800. There was no market. Now they’ve gone through the roof.” Eric Ku, a Berkeley-based vintage watch dealer adds, “Collectors have gotten tired of wearing the same thing everybody else has,” and says, “New watches have become so expensive, and prices continue to go up each year, while spending the same money on vintage has proven itself in terms of the resale market, and when it comes to value, it can be a more sound decision.”