Johnny Garrat | Crowdfunding a Luxury Watch Brand
Disruptors
Rob Moore
4.8 • 1.4K Ratings
🗓️ 28 February 2025
⏱️ 68 minutes
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| 0:00.0 | Johnny, why has the watch market crashed? |
| 0:05.3 | Few reasons. I think the value that people now see in watches is it's ever moving since |
| 0:13.5 | even just two years ago. People were investing in luxury watches for a secondhand value, |
| 0:20.7 | which I think is also a problem, |
| 0:22.8 | you know, the whole reason we're in business is to be able to produce watches that you |
| 0:26.6 | can actually wear on a daily basis and appreciate. Now, there's so much supply in the marketplace |
| 0:32.7 | that you are sort of struggling where to be able to make these purchases, |
| 0:37.9 | apart from brands obviously like in your likes of Rolex. |
| 0:42.0 | So the difficulty is now is with an oversupply and so many different options, |
| 0:47.4 | it's very difficult to be able to maintain those values. |
| 0:50.8 | And that's where the luxury brands are really struggling now. |
| 0:53.6 | They're almost producing |
| 0:54.6 | too many pieces. Do you think it's a knock on post lockdown effect? Because I remember when |
| 1:03.0 | lockdown happened and I thought everything's going to go to shit and I broke one of my rules, |
| 1:08.3 | which is never sell. So I had an RM 11 and I sold that in the early |
| 1:13.3 | 80s and made a tiny bit on it, which you never did. RMs used to drop like crazy. And then that |
| 1:18.6 | Rishal meal, RM 11 went up to nearly 200 grand. And I just saw it go like that. And I thought |
| 1:25.6 | this is mad. I sold a nautilus chronograph. I sold it. I bought it for |
| 1:30.5 | 25. I sold it for 36. I thought, I'm well in here. And then it went up to 150 grand. And I've never |
| 1:36.9 | seen anything like this. I've been buying watches for 15 years. I love watches. And, you know, |
| 1:42.1 | I believe it was because there was just a cut of supply because obviously everything was shut and they couldn't make for a while. |
| 1:49.8 | And then that supply or lack of supply has a knock on effect. |
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