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The functionality of a time piece GREATLY affects value in the higher priced pieces. A tourbillon is a $40,000 addition to a wristwatch, and that is just to build to predesigned specs; after factoring in R&D the cost is stratospheric. A minute repeater adds at least $25,000 whereever it appears.
Patek just released a version of their new 10 day power reserve in a tounneau case, and after adding a tourbillon the cost at retail is $260,000. And the thing is that this watch is this price exclusively because patek found a way to incorporate two exceedingly hard complications into a wristwatch movement.
A combination of complication and asethetics rules the watch world at the highest levels; when a watch can take 2 years of continuous work to build, youn won't get it for a hug and some candy.
A very good fried of mine proffessionally trades fine watches, and has always said that if you want to buy a watch for less that 5, stick with vintage rolex or a very well kept but undesirable patek. They will produce monetary advantages later on that cannot be consistently had with even a fine watch like Girrard Perrigeaux or Jaeger le Coultre.
Cam
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Ok I understand how a great G-P can cost a quarter million +.
It's a grande complication, 18k gold, croc-snap clasp band,
Most of that 250k goes in to the fact that it's a grande complication, for those that don't totally understand that means that the watch will do stuff like lunar phases, minute repeater(push a button, the watch chimes the time for you) tourbillon(keeps accurate time even when the watch is upside down, rotated, etc) and so on and so forth.
The first watch, which I like as an example because G-P makes my favorite watches, costs $4,900 at first glance online. I wouldn't be surprised if it was a little more in a store. Whatever.
http://www.jomashop.com/girard-perre...-0-11-114.html
What does this watch offer me?
Date.
Steel case.
Leather strap.
wtf kind of premium am I paying for here? If this is simply a "watch" thing then so be it. But I spend way more money on things than I should, mostly because society tells me it's cool. That's fine, I don't mind. When it comes to watches like this one though, I just DO NOT get it.
It is a good looking watch but can you really tell me this watch cost more than a hundred dollars to make? Including labor?