The world of watch collecting is now more diverse than ever before. It has become almost impossible to keep up with new brands and watchmakers, with micro brands emerging by the day and a multitude of concept watches to get on board with. Even entry-level watches have become more accessible, given the current competition in the market. Still, as anyone with a molecule of horological experience knows, supply and demand drive up prices on the second-hand market. And those watches most responsible for the phenomenon? It’s models like the AP Royal Oak, the Nautilus by Patek Philippe, and the Rolex Daytona, AKA “hype watches.
What is a Hype Watch?
In the broadest terms, a hype watch is a timepiece valued by collectors for its brand cache, prestige, and ability to communicate wealth and power on the wrist. Of course, a hype watch solely relies upon brand recognition and a collector’s perception of said brand. On the whole, however, it must be a watch that impresses others by the sheer mention of its manufacturer or the model name. The desirability of these watches also depends on their rarity, or should we say their accessibility. The general consensus is that it's a hype watch if you’ve had to jump through hoops to acquire your watch and paid good money for it.
But hype watches are not just confined to iconic models as such. Some of the most complicated watches in the world can acquire the title. Here, we can appreciate the nuances of this term. In some cases, a hype watch can be one that shows off to as many people as possible and has global status. In other cases, it can be a watch as rare as unicorn poo. Either way, wearing one gives the person a chance to impress others with their knowledge of that watch (or their financial capability to afford one).
Whichever way you look at it, a hype watch is a timepiece that can be flipped for several times the amount it’s worth (if you sell at the right time), depending on the person who wants to own it. A good example would be the steel sports watch, which soared in value in 2020 with the resurgence of a very significant trend. Gerald Genta designs of the past made a comeback, sparking a new-found love for the 1970’s-inspired designs of yesteryear, with models like the Patek Philippe Aquanaut, the Rolex GMT-Master II and the Sub being close runner-ups.
What causes a surge in a hype watch?
So, we’ve established that hype watches are those in demand, often require substantial waiting lists, and sometimes sell at extortionate prices, depending on the supply vs demand chain. They can also reflect trends, like the steel sports watch. But here’s the interesting thing about the hype watch. A trend doesn’t have to point to an expensive watch initially. Moreover, it can be an “anybody’s watch”. It can be a design that acquires a pop culture, picking up momentum on the watch-wearing scene because of a particular celebrity who sported it and sold the lifestyle. However, what a hype watch always is and should always be is a high-quality product.
What causes watches like the Audemars Piguet Royal Oak and Patek Philippe Nautilus to surge in value unprecedentedly is often a confluence of factors. For example, people are influenced to buy a particular watch because it’s simply what they believe they should do. That ecosystem of culture was propelled by factors like COVID-19 in 2020 when we saw these watches sell on the pre-owned market for unthinkable prices. Because those watches become a symbol of wealth, they become even more desirable. By the end of 2021, the Nautilus, Daytona, and Royal Oak models sold for close to six figures. But the madness eventually reached a summit, peaking in March 2022.
It is no surprise that a sector of the watch-collecting community doesn’t want to jump on the “hype” of the hype watch. Moreover, some prefer to focus on the value of a watch secondary to its design. Indeed, it would be sacrilege for any true collector to ignore the craftmanship of the Submariner, the ingenuity of the Daytona’s engineering, or the bracelet of the Royal Oak in favour of stocks and market value.
Conclusion
The market for the hype watch is still very much real despite a decline in the value of some icons over the last couple of years. You can still walk into a preowned stockist, buy any of these watches, and feel like you’re paying for quality. Many timepieces that fit the bill of the hype watch have been manufactured by a prestigious brand and crafted from high-end materials with a precise (sometimes in-house) movement.
There’s a good chance that if you’re looking at buying a popular luxury watch, you’ll have to decide between a hype watch or a more accessible version. For example, most Submariners are hype watches, but some are more popular than others. To avoid substantial waiting lists with a retailer or paying a premium, you may consider opting for a standard Rolex Sub. It’s about where you put your money, too. Trusting in an authorised stockist like Charles Martin Watch Company, who won’t overcharge you, goes a long way. While many collectors are focussing on said hype watches, many other decent alternatives are getting ignored, opening up a plethora of low-key options worth serious consideration.
At Charles Martin, we’re here to help you explore those options and more, whether they classify as a hype watch or not. From the Omega Speedmaster to the Breitling Navitimer, our range awaits you to discover, regardless of your budget.