What is horology (and what is it not)?

***What is horology (and what is it not)?
 
To put it very simply, when we talk about horology, we talk about two things: 1. the chase for perfection in timekeeping and 2. the art of watchmaking. The quest for "the best timekeeper" is really a matter of progress, science, technical advancement and some extremely clever engineering.
Therefore, if you wish to enhance your appreciation for that first side of horology – the quest for PRECISION AND ACCURACY, you should sell your Rolex and Patek and buy a Japanese HAQ [High Accuracy Quartz] watch. My personal recommendation: Citizen CTQ57 Chronomaster or Grand Seiko 9F series. You can walk around knowing you have one of the most accurate wrist watches that still contains mechanical parts.

Now, you may rightly ask: well, if this is horology, why in the world don’t we just do that: get rid of the Swiss junk and invest in the most advanced Japanese stuff?

The problem is that accuracy is only half of horology. The other half is the "art of watchmaking"; and somehow, by art, we think of our ability to shape metal in a very traditional way, the very difficult way; the way it was done 200 years ago. And what we call art is really a combination of watchmaking skills, precision engineering, accuracy and artistic beauty.

Confused? You should be.

Because horology does not really make sense:  if modern mass-produced (yet super accurate) Citizen and Seiko watches are not artistic, why are the equally mass-produced, mechanically inferior Swiss wrist watches artistic enough to be considered worthy of horological importance?

Is a Swatch watch horology? Is it Rolex? Lange? Hublot? Rebelde? TAG? Surely Omega Moon watch is - at least, this is the watch mentioned in this newsletter almost daily! Would I be able, as a novice watch enthusiast, to ever figure out which one to buy and collect? Why is horology so confusing?

Before we go any further, let's spend a moment or two on a totally different subject. (I am simply trying to alleviate your pain).

If you ask me "What is cycling?" I can immediately think of four things: Tour de France - the fittest athletes with unbreakable stamina and strength pushing themselves beyond physical endurance while racing through the most picturesque French landscape. The second association: an overweight man on a training bicycle with a large bag of potato chips, gold chain around his neck, watching music videos at a $3,000-membership gym. The third picture: a kid pedalling like mad, down the paddock trying to reach 55km/hour on a homemade bike, ending up in hospital with a broken arm. Fourth: a lycra-clad, adrenaline-pumped Sydneysider, blocking peak hour traffic on the Spit Bridge in the bus lane.

Now, let's just not kid ourselves: the exercise bike is not cycling and the suicidal Sydneysider should be looked up in a mental institution. But the kid cycling down the paddock could be the next Cadel Evans, and the broken arm story is something he will be retelling for the rest of his life.

So here is my punch line: from now on, every watch you see, buy, or read about will fall in one of those 4 categories: Tour de France winners Cadel Evans and Chris Froome, the fatso with golden chain, the cool kid or the high-tech madman. Some of them you want as your friends, others you should avoid at any cost.

So, horology is really what YOU think it is; and your horology is surely different than mine. Often it does not make sense and it takes a bloody long time to work out what to keep and what to sell.

But if you do apply my 4-cyclist rule, you will have no problem working out who's who and what's what in the world of watches. Give it a go: Lange, Rolex, Rebelde and Hublot. I couldn't make it easier but do send me your answers. (Too easy? Then try this foursome: F P Journe, Oris, Panerai and Vacheron). Have fun!

Like in the Tour de France, the very top of artistic horology is all about performance, complexity (we call it 'complications') and traditional skills. The ‘top’ watch is the one that combines all of the above, and much more. If this helps - think of the Melbourne Symphony Orchestra:

Think of the team work, perfection to detail, appearance, harmony, excitement. How much talent and painstaking practice is required to secure a place in the orchestra? Attending a performance is a feast for the ears, eyes and soul - and even if you are not 'into it', it doesn't take much to appreciate the seriousness of the performance.

So does the watch mechanism below look like the Symphonic Orchestra? You bet!

Note - it is the watch mechanism that gets us excited - not the watch case or even the dial; and definitely not the size or colour of the strap. When we are talking about the top of the top, we are looking for brands and manufacturers who are really good at making a complex mechanism in a very traditional style: the style of the 'old masters'.




There are hundreds of watchmakers who call themselves 'watch manufacturers' and that may be the case, however, when it comes to the Crème de la crème, in my opinion, the true engineering brands which deserves that top spot are:
Lange and Sohne, Jaeger Le Coultre, Vacheron Constantin and Patek Philippe - the Masters of Grand Complication.

So when you are assessing a watch, the first question should be this: what is the complexity and workmanship of the mechanism?

A grand complication is a watch with several complications, the most complex achievements of haute horlogerie, or fine watchmaking. Although there is no 'official' definition,^, one common definition is a watch that contains at least three complications, with at least one coming from each of the groups listed below:
 

Timing complications	Astronomical complications	Striking complications
Simple chronograph	Simple calendar	Alarm
Counter chronograph	Annual calendar	Quarter repeater
Split-second flyback chronograph	Perpetual calendar	Half-quarter repeater
Independent second-hand chronograph	Equation of time	Five-minute repeater
Jumping second-hand chronograph	Moon phases	Minute repeater

Currently, the most complex watch on the market comes with no less than 57 ‘complications’, containing 2,826 individual components – with an assembly time of 8 years.


To be continued…

Happy collecting,
Nick

Landfill or Lifetime

***The choice is yours!
 
In February, we lost our washing machine. After 7 years of service, the poor thing just died. And last week we lost the mighty Fisher and Paykel fridge. The death was slow and painful - and for a couple of days we thought we could save it. "I am calling the repairman" - Tanya was determined. But then common sense prevailed: the technician’s quote and the cost of parts and labour would only extend the life of the poor fridge for a year or two. Beyond that, the fridge would simply become too old, non-repairable, a burdensome machine. Not to mention all the inconvenience which goes with such a repair job: the waiting time on a service phone line, mid-day appointments which would require one of us taking a day off just to babysit the fridge, awaiting the serviceman. And that would be the best case scenario: what if the required parts are simply no longer available or not in stock? More scheduling, more hassle and more wasted time.

Australia is the fifth highest waste producer per capita in the world. Each Australian family contributes enough rubbish each year to fill a three-bedroom house from floor to ceiling. Yes it is true - we are getting better at recycling stuff. But here is a shocking statistic: only 1% of all items purchased are still in use 6 months later! Somehow, we got really good at both over-consumption and excessive production of short-lived, disposable items.

However, there are a handful of businesses who still take pride in making goods which will last 'forever'. I've googled three - in Texas!  A Texas Instruments graphing calculator would easily last you 15 years. No wonder they hold a 93% share of the graphic calculator market - they are built to last. I had one as a kid, and you had one too. A leather Saddleback wallet can last decades and it is fully 'repairable'.  Velvet Forge offers a solid straight razor that's made out of stainless steel and is resistant to rust and wear. The razor comes with a leather carrying case, and the company has your back for a lifetime of resharpening. Guaranteed for a lifetime!

And then there is that crazy watchmaker in Australia who designs his own watches, assembles each timepiece by hand - one at a time - and offers a 50 year guarantee on performance and 50 year free parts and labour servicing with each watch. The watch requires no power source other than old-fashioned winding, it is fully waterproof and has a little mechanical heart.

Landfill or lifetime? As always, the choice is yours.

Happy collecting,
Nick

Intriguing History of the Reverso

Your New Smile

***Your new smile


About 10 years ago, at the time when our shop was located in Mosman, I went to see a local dentist for a minor 'dental repair'.
“Really a minor problem”, he said, “painful never the less, but while you here, I would like to share some good news”, he said.
Good news in a dental chair? “Have they finally invented a painless drill”, I naively asked.
“Well, the good news is, that in just a week or so, you can leave this practice with a brand new smile!”
It was obvious that I didn't need a new smile but I couldn't resist asking how much that new smile would cost.
“Only $32,000” he said cheerfully. “We will start with the lower jaw then move up, left, right and centre - and you will have the smile of a news presenter!”
Needless to say, I got the tooth fixed for $120 across the road.

You see, there are plenty of idiots out there happy to take advantage of you. Watchmakers are as bad as everyone else, so keep reading. 

About once a week I receive a service report from a subscriber who just submitted their watch to a "reputable" Swiss brand service centre. And most of them appear to be prepared by the “you'll have a new smile” watchmaker: your watch needs a battery replacement, but it is also scratched. We recommend case polishing. While we are polishing the case, we will also do a complete movement overhaul (your watch is due for one!). We also noticed that your dial is oxidised, as well as hands, so we will replace them. The total repair cost is $1,100.

So you took the watch for battery replacement only to find out that your watch is a piece of crap which can be brought to former glory for a mere $1,100.

Before I go any further: please do not send me your service report estimates! All of them come with a disclaimer clearly stipulating that you are NOT ALLOWED to share this information with anyone. So legally, you are breaking confidentiality law. (Sorry legal people, you know what I mean).
Equally I am not allowed to comment on reports or to mention names. Also, even if your watch does not need any of above, it would take lots of money and time to fight such reports. Now, it goes without saying that since 'the reputable brand' is not going to supply any spare parts to me, in most cases, I won’t be able to help you. This is the beauty of a monopoly: it kicks you in the guts and then robs you of the opportunity to source a service from a non-authorized third party. 

One of the trademarks of sophisticated thieving is the use of scary terms which are not commonly understood. Oxidation is a perfect example. Your apple turns brown in matter of minutes when sliced; steel rusts in rain in a matter of days and a silver watch dial does the same - coated or not, protected or not - over the period of a few years. In other words, oxidation is just a very natural process, and the end result - as on the watch dial and hands - is more of a cosmetic nature than of any functional concern. And here is my punch line: if you magnify any surface enough, you will see that discoloration, so technically and legally, it's there. But if you are happy with your smile and with your micro-oxidized dial, which you cannot even notice with a naked eye, then you should tell your Swiss brand that you don't want them replaced. This is your consumer's RIGHT and don't let it be taken away from you.

The final question is the one in relation to servicing. Does your watch needs a complete overhaul when in reality you just want a battery replacement? Well this one is easy to work out.

If your car runs out of petrol and you take it to the "brand" car maker service (without telling them that you've just run out of petrol!), then you can bet your last dollar that the service report would take the opportunity to list a number of parts which would require immediate replacement: filters, maybe a clutch, surely brake pads, right down to the rubber wipers. They will have no problem claiming that your 10 year old car is no longer performing "as when it was brand new" (which is obviously true) so legally, they are not breaking any law trying to sell you that new smile. The only reason why such reports are rare is because your Government knows that you need your car to get to work (so you can pay your tax) and therefore protects you from predators and monopolists.

But your government could not care less about your fancy watch so your only protection is to stand up and rebel against unwanted and unnecessary watch repairs yourself. Tell them to go to hell and just replace the darn battery or otherwise you'll take it to someone else who will.

Happy collecting,
Nick

The Most Boring Job in the World

***The Most Boring Job in the World

Being a rebelde service person has to be the most boring job in the world.
They’re simply not coming back. No broken crystals, no missing winders, not even a torn strap. 542 rebelde watches simply refuse to stop ticking. Which can be a bit disappointing if your only job is to turn up for work, waiting for a broken watch to arrive into the rebelde workshop for servicing. You might think this is a joke, but it’s not. It’s a serious problem we have – if the watches are not breaking how can we improve them?
 
You too can become a happy watch owner - order your rebelde today.
Available styles: www.nickhacko.blogspot.com.au/2017/03/rebelde-2017-production.html
Delivery time: 4-6 weeks

False Dreams

***False Dreams


Probably the most common question we get asked: is the watch I intend to buy a good investment?

The question is not just a regular reoccurrence but also a very important one. I do my best to address this subject every now and then - yet somehow there are many subscribers who simply struggle with the whole 'investment' concept.

I'll keep it brief, but please try to digest it at your leisure: if busy, save and read later.

The first question you need to answer for yourself (and I can't answer it for you): are you an investor, collector, enthusiast or just a happy watch owner?

Of course, you can be all of the above at the same time, but here is the catch: unless you have an excess amount of cash you are willing to invest, then you are not an investor. Unfortunately we live in a world where many are sold a false dream called "borrow to invest". You can actually call yourself an investor without even having any money! The financial institutions are happy to lend money so you can "invest" in shares or buy your fifth "investment" property. Imagine a world where any 18 year old kid could obtain a law or medical diploma and start his own practice today - just by promising that one day, in 5 or 10 years, he will actually complete the studies. As ridiculous as it sounds, this is precisely what you can do if you wish to enter the speculative world of quasi-investing with money you don't actually have.

So if you are putting a watch on a credit card then you don’t have to worry about its "investment potential" because such a transaction is not an investment. By the time you pay that watch off, any potential investment return will be long gone, your bank will have made a nice profit on their loan and ironically, it won't even send you a thank you email.

Now the reality is that many of my customers actually do have a solid disposal income, including a significant amount of cash which could be potentiality invested. However, watches are not an income-generating asset. You cannot milk it; skin it; the watch cannot employ or educate people; it cannot be lived in, leased or rented out. Your watch will never find a cure for cancer, develop an app or figure out an algorithm to speed up the data flow. Actually, the amount of income they generate over time is precisely zero. So watches are an extremely poor income generating asset and, if anything, you would want to avoid them as an investment all together, at any cost.

If you are bit confused then you are actually paying attention. How come, then, that watches are always sold for more than what they were worth new, a decade ago? Surely, some of them are a great asset?

Unfortunately, based on my lifetime dealing in watches, such phenomenon is a myth. Only a fraction of watches in circulation actually increase in value. The majority don't. And picking a winner is like predicting the future - the outcome is highly unpredictable and often surprising.

There is however a clear pattern: those rare winners which have increased in value over time would tick most of these boxes:
- they are ‘locked in time’ (a unique design, discontinued, or of a certain size or shape)
- they have a GREAT STORY (provenience, past ownership)
- fantastic condition (all original components, good working order, cosmetically near mint)
- well-documented and well-researched pieces (i.e. there is a book or numerous articles about the watch)
- limited production run (only a few pieces made)
- feature a unique horological innovation, or was a trend-changer
- made by a famous, reputable maker

It goes without saying that collectors who have made money on watches have done that for a reason. They invested their time rather than their money doing the research, closely following the market trends and buying at the right time, snatching the pieces that do not often appear on the market. But it is clearly obvious that their motive was not only the monetary gain. They didn’t do it for money but for pleasure.

Someone said that luxury yacht owners are happiest twice in their lifetime: first, on the day they buy the yacht, and then again on the day they sell it. The same goes for most watch owners. But it shouldn’t be like that – you, as a watch owner can be perfectly happy with your choice every day of the week, for the rest of your life. Simply, follow the above guidelines, do plenty of research, take your time and learn how to say ‘no’. Instead of volume, focus on quality. Collect thematically – rather than just stockpiling the watches, build your collection in a meaningful and organized way (for example: focus on a particular brand, style or model – more about that some other time).

Over the years I have had countless opportunities to add more pieces to my modest private collection, but I restrict myself to no more than 2 watches per year. Actually, in 2015 and 2016, I only bought one watch each year and I could not be happier with my choices.

In my next newsletter I will be pleased to tell you which watches I bought and why. And then, I will also tell you which watch I regret selling – and which one is on my ‘to buy’ list for 2017.

To subscribe to Nick's free newsletter click here:
www.clockmaker.com.au/free_newsletter

rebelde 2017 production

***Rebelde 2017 update

Pleased to report that the first 11 rebelde FIFTY watches have been assembled and delivered to their new proud owners. Shortly I will commence the assembly of the Pilots Chocolate dial, V batch. Those on the waiting list should receive their watch by the end of March. The rebelde W Control Tower is now scheduled for April 1. Pretty much as planned with no hiccups or major delays.

We still have some cool serial numbers available for all three models and your orders are welcome. Call Robyn or Laura on 02 9232 0500 for further inquiries.

For more information, go to our rebelde homepage: www.rebelde.com.au

Happy collecting,
Nick