Our owner, Thomas Knopp, worked for 20 years in various roles as an investment advisor and manager for a major financial services provider in Germany and abroad and shares his view of things and what you should definitely look out for.

But before we go into the interview, could you please introduce yourself to your visitors?
I’m very happy to do that. I have been the owner of WatchPlanet24 since 2002. It all started with a passion for Rolex watches. I originally trained as a retail salesman. After my apprenticeship, I lived in Los Angeles for 8 months. When I returned to Germany in 1996, I “slipped” into the financial services industry and worked for a Munich-based insurance company, where I spent the next 20 years, initially as a customer advisor in the traditional investment and insurance business and from 2010 to 2015 as a senior manager specializing in sales. I was born in Nuremberg and lived in the USA and Malaysia for two years, where I set up a bancassurance sales organization for my former company.

The passion for mechanical wristwatches began back in 2000. At some point, I fully devoted myself to my passion and founded my first online store, WatchPlanet24, in 2014.

Since then, I have been in the fortunate position of being able to indulge in my passion every day. What’s more, I get to meet really great people who enrich my everyday life and with whom I can exchange professional ideas.

Would you describe yourself as a watch professional?
The spectrum of mechanical watches and their history is so broad that I would not presume to call myself a “professional”. However, when it comes to the brands I offer on WatchPlanet24.com, I can say with a clear conscience that I have very good expertise.
But I still learn something new every day and that’s what makes this job so exciting and interesting for me.

Watches as an investment or a store of value – which customers are investing in a tangible asset like watches?
There are different types of investment, and it is impossible to describe someone who invests in watches in a few sentences.

In addition to watches, people with a large fortune also have an interest in rare wines, vintage cars or art, for example.

Then there are the speculators who set aside a few watches in the hope that they will generate very high returns in the coming years.

And then there is the collector. As a rule, collectors know exactly what they want and keep searching until they find the watch they desire.

However, they should all have one thing in common: an interest in what they want to buy.

What do you mean, he should be interested in what he wants to buy?
Quite simply, whether you are buying a new television, a car or a washing machine today, you inform yourself before you buy and you should do the same when buying a new luxury watch. Especially if this luxury watch is to serve as an investment.

What advice would you give to people who ask you about a watch with appreciation potential?
Unfortunately, it’s not that simple after all. In addition to the classics such as Rolex Audemars Piguet or Patek Philippe, there are also many other brands and watch models that have already developed well and will certainly continue to do so in the future. As with all investment transactions, it is important to know whether the customer has already dealt with the subject of watches? Does he prefer a particular brand? How much money does the customer want to invest?

Is the customer looking for an everyday watch that they will wear or do they want to wear the watch for a certain period of time? Especially at times when watches are fetching unprecedentedly high prices at auctions, for example, it is important for me as a dealer to find out what the customer’s intentions are. Once all this has been clarified, you can concentrate on one or more brands and talk about them first. As a rule, however, customers know pretty well at least one brand, which in most cases is Rolex.

I was allowed to look at your collection and was thrilled with the euphoria with which you told me a story about each watch, how do you make a decision to include a watch in your collection?

Compared to most of my investment clients, however, my collection is very small. For me, the price of a watch that I want to add to my collection doesn’t play a major role. Much more important to me is the history of the watch and, of course, the accessories. Incidentally, all my “show room watches” come from 1st hand and in many cases are accompanied by a letter from the first owner.

My first watch brand was Rolex, which I was particularly interested in because of the company’s history. Hans Wilsdorf registered the Rolex brand in 1905 and Rolex has been on a steady upward trajectory ever since. Rolex is a foundation, which is also unique in the watch industry. Some of the watch models were produced over 50 years with only slight but groundbreaking changes.

Just take the first water-resistant wristwatch, the Rolex Oyster, or the double-sided self-winding rotor or the helium valve that enables one watch to dive to depths never reached before. All this and much more was invented by Rolex and is still unique in the watch industry today. Visually, the watches have changed only slightly over the decades and Rolex watches are therefore highly recognizable.

Another brand that I find very exciting is Patek Philippe. Patek Philippe, for example, invented the world’s first wristwatch with a perpetual calendar in 1925 and the first chronograph that could be worn on the wrist in 1927. In 1902, Patek Philippe also produced the world’s first double chronograph. The Patek Philippe company is still in the hands of one family today, which is also very rare in times of globalization and takeovers by large corporations.

What tips can you give interested readers about investing in watches?

For a watch, and this is my personal view, brand and history count. My advice is not necessarily to listen to the opinions of others, but to form your own opinion. However, this applies to all situations in life and not just when buying a watch. Find out about the brand, the model and the market.

A brand that has a high level of recognition and a long and intensive history is certainly a better choice than a
Manufacturer who has no name or who overruns the market with discounts, for example. When it comes to a stable investment, only a few watch manufacturers come into question for me.

As you can already guess, I concentrate very strongly on the brands Rolex, Patek Philippe, Audemars Piguet and Omega. Of course, there are other brands that are stable in value and are also interesting as an investment. Brands such as Jaeger LeCoultre, Tag Heuer, Vacheron Constantin or selected vintage models from Longines, Zenith, Breitling and IWC are also very stable in value and sometimes achieve dizzying prices at auctions. However, you should research very carefully before adding a model from a particular brand to your portfolio.

In your opinion, which watch models are the most stable in value?
If we stay with the Rolex, Audemars Piguet and Patek Philippe brands, it is definitely the sports models and classics that look back on a long history. Rolex, Audemars Piguet and Patek Philippe have a number of models that have developed very well in recent years.

I am particularly interested in the intermediate references of the Rolex sports models. These watch models are becoming increasingly popular. There are intermediate references for almost all sports models. These models were only built for a short time between a model change within a model series. This means that the number of units is small compared to the “mother references”, which is a good reason to take a closer look at these models.

Here is a small excerpt from the interim references that I find interesting:

16760 GMT Master, also called “Fat Lady
16800/0 Rolex Submariner
16660 Rolex Sea-Dweller
16550 Rolex Explorer

However, there are major differences in terms of the dial variants. Here too, no purchase should be made without first obtaining sufficient information. The older vintage models, such as the Rolex Submariner with the references 1680, 1680 red, 5510, 5512, 5513, 5508 or, for example, the Rolex GMT with the reference 6542 or the Rolex GMT 1675 or 16750 models have all developed very well in terms of price and there seems to be a further upward trend.

A Rolex Submariner 1680 cost around DM 680 in 1980 and is rarely found as a complete set for less than €14,000 today. That’s a nice development in value, not to mention the pleasure you’ve had with the watch over the years.

One of my favorites is the Rolex Sea-Dweller, which has also developed excellently. However, the early references 1665 with single or double red lettering, as well as the rare Comex or Tiffany & Co model series, are difficult to obtain at affordable prices. Also, the already mentioned intermediate reference 16660 is highly interesting, this watch with a matte dial has become very rare and I expect a good performance in the next few years.

Of course, I must also mention the Rolex watch par excellence in this context. The Rolex Daytona from the early 1960s, these Daytona models are currently fetching incredibly high prices. Since October 26, 2017, the most expensive watch in the world has been a Rolex Daytona with the reference number 6239. This Rolex Datytona belonged to Paul Newman and was auctioned by Philipps Auction House for a total (including auction premium) of 17.7 million USD. Sometimes this watch world is crazy, but I was still expecting a result in this region.

All in all, it can be said that almost all Rolex steel sports models in their original condition are very stable in value. I can’t think of any Patek Philippe models that don’t at least hold their value. With Patek Philippe, however, I concentrate on the Nautilus model series, from the early 1970s to the modern era. In my opinion, the absolute highlight at Patek Philippe is the Grandmaster Chime with 20 complications, which was launched for the 175th anniversary. Not a vintage watch, but a watch of modern times. The Grandmaster Chime was produced in an edition of 7 pieces. One example can be admired in the Patek Philippe museum, the other 6 pieces were hand-picked.

Thierry Stern, the President of Patek Philippe, invited potential customers to the company headquarters for a personal interview and only then decided which of the customers was worthy of this masterpiece. It took 8 years to make this watch by hand. If you have to apply for a watch in a personal interview, that says a lot about the company and, above all, its market position. You can consider yourself lucky if Thierry Stern decides in your favor. Then you only need the small sum of approx. 2 million euros and you can call the approx. 1 kg watch your own.

The Nautilus models in steel, such as the 3700, 3800, 3900, 4700, 5711, 5712 enjoy very good value stability. In terms of price, however, it must be admitted that a Patek Philippe Nautilus in steel in good condition with box and papers is rarely offered for less than €25,000.

The first Patek Philippe Nautlius was launched in 1976 by Philippe Stern, the company’s owner at the time. The design of the watch was unique at the time, inspired by portholes, and even the company boss had doubts at the time as to whether such a groundbreaking innovation would last on the market. But let’s take a look at the Patek Philippe 5980 in steel, one of my personal favorites. The watch had a price tag of around €25,000 when it was first put on the market in 2007. Production of the steel version of this watch was discontinued in 2013/2014. The most expensive steel chronograph from Patek Philippe enjoys great popularity and today you can pay between €65,000 and €75,000 for a used model in perfect condition and with all accessories, and the trend is rising.

Of course, this is only a very small selection of the repertoire that the watch world has to offer. It would simply go too far to talk about all the possibilities here.

Where is the best place to buy a watch for an investment?
There are many ways to find the watch of your dreams. I think the range on offer in Germany is rather limited. A much larger selection can be found in the USA and Asia. Hong Kong in particular is a huge market for watches of all brands and price ranges. But you can also find reputable dealers in Thailand with a large selection of luxury watches, especially in the Rolex vintage segment. But here, too, I have to mention once again that a potential buyer who is going to look for a new home himself should acquire extensive specialist knowledge beforehand.

There is also the option of finding a reputable dealer you trust and discussing what you are looking for with them. The dealer will do the time-consuming search and, above all, check the authenticity of the watch(es). At Watchplanet, we are very transparent and fair in our pricing.

How much money can I earn as a customer by investing in watches?
I expected this question and it’s not the first time I’ve heard it. You only make money when you sell a watch, and then the question is when you do that.

If you buy a watch today and want to sell it again within a short period of time, it will be difficult to make a profit unless you are a dealer and run the buying and selling professionally and have a good network. However, if you buy the right watches and enjoy them for several years, you can make extraordinarily good profits, provided you can still part with your “favorites”.

My advice to anyone who wants to invest is to buy only what you like and enjoy it. However, I would advise anyone against buying a watch as an investment if they are not familiar with the subject or have no connection to it.

What tips do you have for storing a watch collection?
That’s a good question. I am often asked whether I recommend a watch winder. Well, opinions differ, but I wouldn’t store a “normal” automatic watch in a watch winder. I don’t just park my car in the garage and leave the engine running.

I am referring to wear and tear. If the watch is worn every few weeks in rotation with others, I also like to give my watch and the movement a rest. The situation is different with perpetual calendars, where it makes perfect sense to use a watch winder. If a complication or a perpetual calendar is only worn on special occasions, for example, it makes sense to put this watch on a winder. Setting the watch could otherwise take a little more time, depending on the model.

If you own several watches, you should also check your household contents insurance and contact the insurance company. In many cases, it is possible to increase the sum insured. As a tip, always take photos of your watches, of everything, including accessories, and write down the serial numbers. You then send this photo package to your insurance company as proof that these watches are also in your possession. Ask your insurance company to confirm receipt and insurance cover separately. In the event of a claim, I don’t know of any insurance company that will pay out without any problems, so it’s a good idea to provide the insurance company with all the proof of legal ownership in advance.

Finally, the all-important question: which watch should I buy from Watchplanet?
Preferably the one you like. And if you haven’t found your favorite watch in our shop, call me at any time. I am very happy to help and can procure almost any watch model for my customers within a reasonable period of time.

Thank you very much Mr. Knopp for the short interview.
Thank you very much for your time.

* As of 1.11.2018