PBD Podcast - “The Luxury Watch Bubble" - Roman Sharf REVEALS: Luxury Watch Lies, Market Crash & Watches To Own | PBD Podcast | Ep. 507

Episode Date: November 15, 2024

Luxury watch dealer Roman Sharf sits down with Patrick Bet-David to discuss the truth behind the booming grey market, Rolex’s dominance, and whether investing in luxury timepieces is a smart move. Are watch prices headed for a crash? Find out in this in-depth conversation. --- Ⓜ️ CONNECT WITH ROMAN SHARF ON MINNECT: https://bit.ly/40MElRO 🎄 PURCHASE THE VT CHRISTMAS COLLECTION: ⁠⁠⁠https://bit.ly/4hDCt3S⁠⁠ 📰 VTNEWS.AI: ⁠⁠⁠https://bit.ly/3Zn2Moj⁠⁠ 👕 VT POLO SHIRTS: ⁠⁠https://bit.ly/3Y4Npig⁠⁠ 🎙️ FOLLOW THE PODCAST ON SPOTIFY: ⁠⁠https://bit.ly/3ze3RUM⁠⁠ 🎙️ FOLLOW THE PODCAST ON ITUNES: ⁠⁠https://bit.ly/47iOGGx⁠⁠ 🎙️ FOLLOW THE PODCAST ON ALL PLATFORMS: ⁠⁠https://bit.ly/4e0FgCe⁠⁠ 📱 CONNECT ON MINNECT: ⁠⁠https://bit.ly/3MGK5EE⁠⁠ 👔 BET-DAVID CONSULTING: ⁠⁠https://bit.ly/4d5nYlU⁠⁠ 🎓 VALUETAINMENT UNIVERSITY: ⁠⁠https://bit.ly/3XC8L7k⁠⁠ 📺 JOIN THE CHANNEL: ⁠⁠⁠https://bit.ly/3XjSSRK⁠⁠ 💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time! SUBSCRIBE TO: ⁠⁠‪@VALUETAINMENT‬⁠⁠ ⁠⁠‪@vtsoscast‬⁠⁠ ⁠⁠‪@ValuetainmentComedy‬⁠⁠ ⁠⁠‪@bizdocpodcast‬⁠⁠ ⁠⁠‪@theunusualsuspectspodcast‬⁠⁠ ABOUT US: Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida. --- Support this podcast: https://podcasters.spotify.com/pod/show/pbdpodcast/support

This is an inside job, a big inside job. They're not telling you the whole truth here because they're embarrassed. That's why I don't trust watch salesmen. You have no idea how much fraud is on the watch space. I can tell you stories for days. That's a $1.6 million watch. That's a $1.6 million.

It's also made entirely out of a piece of crystal. Billion dollar idea for the watch business. I'm about to shut down an entire idea, ready at one sentence. There's one difference. Go ahead. This is an addictive, slippery slope. You mean to tell me this took a hundred thousand hours to me and now they're asking for some 15 million dollars But guess what I would pay for it

Those watches are gonna be 10x value the minute you walk out that door and they don't want that so there's 12 of these Watches in the world by the way, this actually goes with the cell phone. Yeah I knew I knew what you I knew what you were gonna and then when the story broke and I was double Russian oligarch The highest offer I had on it was 45... And then when the story broke and I was double Russian oligarch, the highest offer I had on it was $45,000. For the shoe? So the Shah wore, that's the watch that he wore. That's his?

Not his. If it was his, it'd be a lot more money. What I'm saying to the gym. Okay, so if you're a watch person or not a watch person, but want to be a watch person, you're thinking about my budget is a thousand, five thousand, ten thousand, a hundred thousand, maybe a million. Where do I go? Who do I trust? How do I see if this is worth the investment or not?

And if I wear a Rolex, what does it say about me? If I were a Patek, what does it say about me? If I were a Jacob and Co., what does it say? What is, if I were an Apple, what does it say about me? We're gonna talk to a guy that's super qualified in this area, he's one of the OG guys. By the way, interesting background. He's a refugee from USSR, goes to Austria, Italy,

from there comes to the States, Brooklyn, New York. Afterwards, starts selling newspapers, gets into sales, joins the US Army, comes out, goes to school, I believe Penn State, gets his electric engineer degree, then goes into watches, and he took a small business of selling watches, known one of the OG guys at the gray market of watches, to build in a 25,000 square for facility, 30 employees doing 130 million dollars a year. Roman, it's great to have you on the podcast. Thank you so much for having me. Yes, and we got a collection of 10 million dollars

of watches here, which we'll talk about as well. Something like. Yeah, and so to the audience now, they kind of have an idea of the entrance of getting into the watch business, but maybe tell me specifically how it happened. I was a baseball card guy. I like collecting cards from the time. I was a kid How did you get into the watch market was the appeal was there a story that somebody inspired? What's the story? There's actually a great story, you know the nickname I go by around the companies. They call me the founder long story

I'll tell you later, but what happened was, as I was in banking, I was working for Deutsche Bank at the time, commuted to New York City two hours each way from Philadelphia, it was a bit of a rough commute. Unfortunately, I was there on 9-11 as well, when it all happened, our office was World Trade Center 4. I get approached by a guy that comes to me, he's like, Roman, you know all this internet stuff.

I'm like, well, it's a little bit more complex than that. I manage Deutsche Bankbased global payment system which processes $42 billion a month, and I run a team that manages the hardware, right? And he's like, well, yeah, whatever. He had no idea. He's like, well, eBay's kind of blowing up. I sell watches.

I know you like watches, and I always love watches due to the mechanics, because I'm an engineer by trade. How about I give you some watches, and you put them on eBay and sell them and make a profit? Your cost is $10, you can sell it for $12. My response to him was, and this is a guy I've bought watches from before. My response was like, that's never going to work. Who the hell is going to buy $10,000 watches on eBay?

This is going back to 2001, 2002. My business started when my wife was six months pregnant with my son. So it says, oh, my son's going to be 22. That's how old my business is. And I'm like, this is never gonna work. Of course, it pays to have a wise woman on your side. He goes, I think this might work. We should give it a shot. Said, all right, because I don't have enough

to do at the bank. So we started doing this part-time. She was helping me out taking pictures with a digital camera, which was like four megapixels. Lo and behold, six months go by, a guy buys a $9,650 watch. It was an Audemars Piguet Royal Oak City of Sales limited edition to a thousand pieces.

I remember the tools very day. If you have the kind of time to scroll back on eBay feedback at our store, about 50,000 pages, you can actually find that sale. Guy from Germany sends me a wire at $9,650. I'm like, okay, maybe this can work. What'd you make on that deal? I made $1,100.

Is that real money at the time for you? Like you and your wife send you the same money? At the time, I'm living comfortable. I'm making $125,000 a year plus bonus at the bank. My wife was at home at the time, and I'm like, okay, well, this is nice. Now after taxes, that paycheck goes down to about seven grand a month,

which was really good money 20 years ago. And after about a year of doing this part-time, my son is born, sleepless nights, to about seven grand a month, which was really good money 20 years ago. After about a year of doing this part-time, my son is born, sleepless nights, just so you understand. I would leave at 5.15 in the morning to go to New York. I would come back at 7.30 at night. My son was already asleep, and he was asleep when I would leave. I would see him stuff part-time. So I would do this part-time, and sometimes I'd get to bed at 2 o'clock in the morning. Plus the team that I ran were 12 guys that worked out of Singapore.

12 hour time difference. So sometimes my lunch meetings were at 2 o'clock in the morning. Let's just say the bags under my eyes speak for themselves. I worked an average of about 40 hours to 50 hours at the bank and another 30, 40 hours doing my own thing. And I did that for almost three years. Having a conscious mind that I have a family to support, I have a son who just bought a new house, I realized that I'm going to have my side business bring me an income of one and a half of what I'm making now to feel comfortable that I can leave the corporate world.

And it was a tough, tough choice. I was progressing really fast where I was. comfortable that I can leave the corporate world. it be on me, not a corporate decision. I never blamed the bank for it, it was a proper corporate. They'd let go of 15,000 employees at that point, mostly out of New York. Every other guy on my floor got up and left. And I said, you know what, I'm here, I'm making the same amount of money as the bank is bringing me.

I can support my family, I'm gonna go full time. And then the website came, and the rest, as they say, is history. Very cool, congrats on the success. Thank you. With watches, I think the way, how did you and I, I was looking at buying a, what was I was looking at buying a, what was it? I was looking at buying a Patek, right? The grand master. Right. And then I

talked to a guy who through Adam, the gold guy, funny guy, track, Max, who is very funny by the way, he was at our Manect event and I just like his. He is a, we call him a piece unique in our industry. He's a great friend of mine, he's a great guy, he's very, he's different. Yeah, and so we're talking about this watch here, yes. And I call you, I'm like, hey, what do you think about this one?

I'm calling a bunch of different guys, I'm ready to, you know, cut a check on a watch, I'm like, hey, well, before you do this one? I'm calling a bunch of different guys. I'm ready to, you know, cut a check on a watch. I'm like, hey, well, before you do this, you may want to think about XYZ. And from there, the conversation turned. I bought a watch from you for my wife. I think I bought that like two, three months ago, and you were able to make that work.

And it was very easy dealing with you, yourself, Adrian, the crew, so the experience was good. But I got a bunch of different questions I want to ask you within the watch business, okay? From somebody who is not in the space somebody that you know Maybe is somebody that is an obsessed, you know watch guy when when you think about buyers your customers There's different profile of customers that buy watches. What do you notice profile of watch buyers? Is it a guy that hey? He had a big commission day fifty thousand dollars wants to drop 20k on a Rolex Is it a guy that's always coming back buying is there a guy that's trading?

What profile of customers do you guys have it? It's really not about profiles It's really understanding what your client wants finding out what your client wants and it changes with times Just like trends change times change social media revolutionized the world to an extent where, I would say the number one reason a person buys a watch today is flex. That would be the number one reason. Then you have a type of client though who is a big horological geek. He wants complications. He wants watches that are uber-complicated. He wants watches that can be a full-blown perpetual calendar, not just a daytime watch.

You also have guys that are quote-unquote investors. While I tell people watches are quote unquote investors, right? While I tell people watches are not an investment, they're an expensive toy first and foremost, which is the first thing I told you. You remember. You were the one that came back to that. I can't believe you're talking me out

of a five, six million dollar watch, right? But there's a reason for that because my job is to educate the consumer first and foremost to a point where they would feel stupid to buy anywhere else, regardless of price within reason. That's always been my motto. And then when people ask me, hey, can you suggest a watch? I come back to them with questions and I ask them, hey, what sinks to you? Is it the history? Is it the brand name? Is it the flex? And I always say, please, if it is the flex, let me know. There's nothing

wrong with it. Majority of buyers are out there for the flex aspect. But there are of course different type of flexes. So you have your vintage guys, you have your modern guys, you have your latest and greatest guys. Then you have the impulse buyers. The guys that see me post a watch on Instagram and five minutes later I get a DM and they want that watch. They want it now, they want it yesterday. Those are the impulse buyers.

Those are the guys that usually end up trading back and forth all the time. I have clients that will literally trade me watches on a monthly basis two to three times. Every time I'm making a profit, every time they're seemingly taking a hit, but they don't care, they're into for the hobby. They wanna do it all day every day.

And then you have the guys that are seasoned collectors that are putting away as a portfolio. Hey Roman, I wanna put away X into watches. And it's usually ends up being watches that they never thought about buying, nor are they very flexy, nor they something that people want to show off. So stories with watches like you'll see guys will say you know I see you wearing this watch I see you wearing that watch like cars like you know I'll talk to my youngest

and I say I just see you in a Porsche and he likes the Porsche a lot. My oldest son, truck or a Jeep, right? You kind of see them in that. Do watches match based on personality, size, skin color, industry, wealth? Is there a match with it as well? What you wear, what you don't wear? How do you view watches like if I go to a place? I want to buy a suit I'll go to a guy and say hey Stefano. Here's what I'm looking for Here's what you need you need this this this this that and you need to do this you need in your closet to be this This this and that

How do you tool to a buyer somebody that's thinking about buying a watch when it comes on to buying a watch? You got to keep in mind with this this this this this, this, that. What would that be? So it used to be very stereotypical. Your stockbroker had the gold Rolex, right? Your car salesman had the gold Rolex, right? And most of this stuff was Rolex. You had guys that were in the upper echelon of corporate world that would have Pateks. But those things have changed, and the reason is because perception in the world.

You walk into a corporate environment, you're wearing wearing a hundred thousand dollar Patek Philippe I will work against you regardless of the position that you hold if you hold a high position and you're not walking in wearing a Diamond-encrusted Jacob because now you're looking down to those that work for you We have become so infatuated with perception how we're seen by others that everything you just said has gone away as we know it However, there are certain questions that I would ask an individual in regards to, hey, what do you do? What's your day-to-day look like? Who do you interact with on a daily basis? If you're a plumber coming to fix the plumbing in my house,

you're not going to come in wearing a big diamond watch. So a lot of the stuff comes down to practicality, right? Hey, do you have an active lifestyle? You know, do you go skiing all the time? Are you riding motorcycles? Are you riding bikes? What do you do on a daily basis where I can put you into a watch that can withstand it? But the very first question is budget.

Because I say buy what you like first and foremost within the budget that you can afford. Don't overspend, because this is an addictive slippery slope. You start down the slope, you can see how quickly you're gonna want another and another. You mentioned baseball cards. I collect Formula One cards, and I know exactly, it's the same exact concept.

I want every card in every set, in every grade, and so on and so forth. It becomes, it gets away from you very quickly. But for say today, it's the trends that dictate what one would put on his wrist, and then you have the big trendsetters. You have the big celebrities, some of them you can add on here, guys like Jay-Z all of a sudden set a trend

on vintage pieces. But then again, it started with Kanye when he put on the Cartier Crash, seemingly a woman's watch, that started the craze for small collectible Cartier watches. Jay-Z is wearing a version of this watch with a baguette bezel today. He actually bought that recently a couple of months ago.

How much is that worth? That one is about 800 grand. What is the story of that watch? So this is a 6'2". You wanna come see what that watch is? Go for it. So this is a vintage Rolex Daytona. Back in 1986, Rolex started what we like to call off-catalog pieces. You would know them as, for example, the Rainbow Daytona today, right? That's an off-catalog piece. You have the Tiger Eye, basically gem-set encrusted watches. Well, this is the watch that started back in 1986.

They made it with a diamond bezel, They made it with a diamond bezel, they made it with a diamond bezel, diamond dial, and they also made it with a baguette bezel, diamond dial, which is the one that Jay-Z wears today. Production on these pieces were extremely low. We're talking about maybe 30 pieces. Oh, you gotta be kidding me. Oh, it gets rarer, trust me.

So there's only 30 of those. Exactly. So when you talk about a short production number, because Rolex doesn't make limited editions, they just make short production. This was a test. Will this work? Can we get somebody to spend an exorbitant amount of money? When in 86 it came out, what did they sell it for?

In 86, this watch traded somewhere around six or $7,000. Oh, so from there to now trading at? You want to talk about investment. I know you're calculating things in your head. Yes, absolutely. This watch, you want to talk about this watch. How about this watch? This watch originally sold for.

Daniel. Let's see. This watch, here I'll show it to you. This watch originally sold for around $3,200 back in the early 80s. Last auction result on this particular piece was a million and a quarter. What is it?

It's a Patek Philippe 3700. Sold in auto lists that you know today were born from this watch when Jenta designed it back in 1976, like the Royal Loki did in 72. Of course, that one's a little bit more special that was made for the Sultan of Oman, the late Caboose. This was. Yes, and that's, see that little stamp on the dial?

Yeah, that's so one without it would be about a two, $300,000 watch. That little stamp makes a million dollar difference. That little stamp makes a million dollar difference. That little stamp makes a million dollar difference. Yes, and there's a steel version of it as well, which was a few hundred dollars, and again, same stamp. There's only 12 of these known in the world, there's six of these.

There's also a white gold version that we sold. There were three in the world, one is in a museum, one we sold, and one belongs to a collector in Germany who's got more money than Germany, so. That one sold for two million. So you sold that one for two million. So what is this one gonna sell? So this one is gonna be four and a quarter.

425, okay. So what else, what else you got here with the watches? So when it gets to rarity, and this is, a lot of times this tickles people's interest. They're like, oh, what do I go with? And I start telling them a story. And it's not a story, it's not a salesman-y story, it's a real story. So there's 12 of these watches in the world, seemingly a Rolex Daytona, if you

look close enough, it's got a blue dial. This was a friends and family executives edition, right? This particular watch has provenance, it used to belong to Adam Levine, but there's only 12 of them and they were given to high executives and friends of the Rolex family. So this was never sold publicly, this was never sold to an individual, it was only given as gifts to high executives as well as certain friends of the brand. 12 ever made, they rarely come out on the market, they rarely trade, right? But then you can flip the script. What would that trade for? This one was 650,000. 650 and there's only 12 of those? Yeah, just so you know, a regular Daytona today

retails around that $50,000 price range. Okay, I got it. So let me ask you a question. So let's just say I am holding a special birthday for my 50th, which is four years from now. And I wanna go get a custom Rolex watch build or whatever brand it is that I want to get it built for a number of guests that would be the example for me to work with them to build something custom will never happen

will never happen they will never do why not because Rolex is so exclusive and all these brands are so exclusive you made a video that I reacted to where you talked about a you can get a few protect elite watches from protect And then they'll make you a custom watch right that will never do so it will never happen Paddock and Rolex they keep a lid so tight that at this point They don't need this nor did I want to create that chaos because they know that the minute you do that And you make a limited run of 50 Rolex watches of the tech watches Those watches are gonna be 10x value the minute you walk out that door, and they don't want that.

See what you just did right there telling me about the Patek will never do that, that's why I don't trust wide salesmen. Because the guy that told me that told me that in the Venice store when I bought a Patek watch. The majority of the staff that staffs these boutiques that have zero availability on the stuff that you want, they're clueless. So how does a buyer, how does a buyer who is buying secondary market watches, not brand new, not directly, I'm buying it from somebody, how do you process who to trust and who not to trust?

Like for example, this is why when you and I spoke, I was about to probably dump $10 million into watches. And you pushed me away from it. And you remember when we were talking, I'm like, listen, Roman, you make me not want to buy these watches, right? I was ready to go buy 10 million set of these for the family. I know if I buy $10 million worth of cards and I ask the seller to meet me at PSA's headquarters. They'll go there, the president of PSA will be there, hey, would you mind if we put in

a new case and you look at this card and verify it, great. Ken, can we put it in golden vault, no problem, or heritage, can we do something, yeah, go to this guy, go to that guy, great. There's a vault for me to go to. PSA, great it, all of that. So in the card community, back in the days there was a lot of fraud. Like even the first Hannes Wagner card that Bruce McNullan, Wayne Gretzky bought, later on stories came out that that card was cut, okay, edges, which made the corner so perfect,

but you know, it's not the same size as a regular Hannes Wagner car like wait a minute you just you know the corners were cut yeah that one right there that sold for 451 I think at an auction in New York if I'm not mistaken back in the days that the two of them bought and I think nowadays if you want to buy a Hannes Wagner you're going to spend I don't know million to 15 million dollars depending on which one you're buying the quality but right but when it comes on to watches, there is no PSA, there is no BGS, there is no Beckett grading service, there is no SGC. How does a buyer trust the fact that they're buying a watch

that's not fraud? How do you do that? You buy the dealer, not the watch, and I've been saying this for 20 years. And I tell people, there's a ton, you want to talk about fraud in the card space, you have no idea how much fraud is in the watch space, I can tell you stories for days

But I tell people buy the dealer not the watch and do your homework and the number one rule is actually very simple If it's too good to be true, it usually is give you a quick example guy calls me up. It's like Roman It's like I'm I want to buy this two-tone Rolex you have for ten grand. So okay, no problem He's like, but listen, I'm a little hesitant, you know, I got burnt before so what happened I said I bought the same one on eBay, and it turned out to be a fake. This was years back. I go, that same watch trades today for 20 grand.

But he goes, you bought it on eBay, how much did you pay? 1,200. I asked him, what do you do for a living? And the guy's like some super doctor. I said, so you went to school for 45,000 years to become this fancy doctor, and it never dawned on you that a watch that trades for 10 grand,

that you're buying for 1,200 is a little too good to be true? I go, show me the eBay seller. I go on there, and back in the day, eBay allowed this. They don't do it anymore. Guys would put up listings saying, Rolex, like watch. It doesn't have box and papers. Read the description carefully, and look at the price and act accordingly So there were selling clones eBay stop. I put a stop to that after a while

I said so when you read all that and you saw that you didn't dawn on you that you're gonna get a fake It's like well, I thought it was even I thought it was gonna be a good deal common sense will always prevail But today's day and age you have no idea for the first five to seven years being in business, I spend more time proving people that they're not gonna get a brick in the box from me, they're actually gonna get a real item. Today's day and age, you're protected from every angle. Well, let's skip that, let's go to you. So instead of like, here's a story, right?

So Omega says, ex-employee is responsible for the $3 million fake speed master watch. Rob, if you can go a little lower, then zoom out a little bit. First, let's see what the watch is. See what it looks like. So that's the guy right there. Okay, let's go a little bit lower.

Zoom in so we can read this. Omega says, it's been a victim of organized criminal activity alleging three of its former staff members admitting working with intermediaries to sell a fake Speedmaster watch for $3.4 million. The watch was bought by Omega itself for 3.115 million Swiss francs, 25 times the auctioneer's upper estimated price at a Phillips auction in Geneva, November 2021. Omega told CNN in a statement that it had intended to display the watch at its museum in Vienna, Switzerland with high ups in the company that it had intended to display the watch at its museum in Vienna, Switzerland with high ups in the company believing it would be a rare and exceptional timepiece that would be an absolute must for Omega Showcase collections, the item was thought to be a

1957 stainless steel Körner graph wristwatch with a broad arrow hand and was described by Phillips as one of the very first and most collectible Speedmaster models. So you can go a little bit lower Rob. by Phillips as one of the very first and most collectible Speedmaster models. So you can go a little bit lower, Rob. So if these guys at this level screw up, I'm talking about not me trusting you. I wanna know you. Like, they come to you in the dealer world.

How do you know their bullshit? How do you know? Because sometimes, first of all, this is, notice they say organized crime. This was a scam long coming. A lot of people out there, when it comes to the vintage world, it all comes down to knowledge. You want to buy from the most knowledgeable guy. Why?

Because when you're going back to the 50s and the 60s, Rolex has the shittiest records and so does Omega. Their archive and their record system, they're terrible, right? Patek Philippe probably has one of the better archive systems due to a friend of mine that worked there for 15 years, creating that archive system, sitting in the basement, doing all the research. There's no internet, there's no Google Lens, right?

So this is records that you rely on from the 50s. One of the guys was working for the Omega Museum. He was very knowledgeable in what the watch is supposed to look like. They buy a watch that has the same case, that would have the same type of movement. They did something to the dial to turn it brown, right? That wasn't done movement. They did something to the dial to turn it brown, right? That wasn't done naturally.

They did something to the dial to turn it brown. Go back to that rock. Go, I'm listening. Turn the dial to brown. Right? And then what they did is they did subtle little things to show that that is no longer reference X, but it's now reference Y, which is uber rare. You can change hands, you can change buttons, you can do all those things.

But it requires tremendous knowledge in the world of vintage to be able to create what we call a Frankenstein. That's what this is. It's a Frankenstein watch, right? It's put together. And it's done in this industry mostly with stuff from the 50s and the 60s from companies that don't keep good records like Rolex or Omega. So you're saying that's not common for it to be browned?

It can naturally turn brown if it's set in the dark for 20 years. That wasn't done naturally. There is a process that you can use to make it turn that way. Got it. And does that make it more mystique and more valuable? So tropical dials, for example, the watch I'm showing you here, this watch is just starting to turn tropical. If I put it in the dark for another 10 years, it will turn completely brown. But does that make it more valuable? It does, because it makes it a lot rarer, less of something. This is what it comes down to when it comes to vintage watches. So this was done maliciously. It does because it makes it a lot rarer, less of something. This is what it comes down to when it comes to vintage watches.

So this was done maliciously. It took a couple years of planning. The original watch that that was, was actually sold at auction. They augmented the watch a little bit, and then eventually if you take a zoom in to this versus the original auction result a few years prior, you can see certain scratches that match,

kind of like a photo match. Got it. This was done maliciously. Let me tell you what happens, or at least what I do when it comes to vintage timepieces. What I do is I partner up with an individual whom I trust and who I know is knowledgeable. Because the biggest fear I have is to sell you a watch

where there's something not correct on the watch because of my knowledge. If I don't know something, I will reach out to an expert. I have a friend of mine, Adam Golden, Mentor Watches, and he's a vintage guy. He's actually an attorney, turned collector, who then said, screw being an attorney, I'm gonna be a vintage watch dealer.

He knows his stuff inside and out. He lives and breathes vintage watches. So rather than me taking a shot and saying, hey Patrick, here's this great watch, and you pay me a million bucks, and then Patrick finds out, well the buttons are not original, something is wrong with the dial, it's been relumed, refaced, repainted, here's this great watch and you pay me a million bucks and then Patrick finds out, well the buttons are not original, something is wrong with the dial,

it's been re-loomed, re-phased, repainted or something like this, this is the worst of it. I'd rather make half the money and have an expert on my side the way I can confidently walk into a room and say this is a correct watch and this is a watch for you. But how about when you're buying from a private owner who's not in the business, how do you know if the watch he or she is selling is fake?

Well, first of all, I can tell a fake watch from a room away. How? Experience, you can't buy experience. How did Omega screw up here? Because Omega, this was done by people that worked for Omega in their museum that were verifying all this stuff, you understand?

This is an inside job, a big inside job. They're not telling you the whole truth here because they're embarrassed. But when you have somebody on the inside who's supposed to be the guy telling you this is the correct watch, do you know why I fetched so much money? Because the insiders knew that Omega

was going to bid on that watch. And you know when Rolex or Omega come to the table in auctions, that's when records are set because they don't care they keep the paddle up until they win because they want it for their museum. Got it, okay. So what else? But when you say you can't tell from, like give me the most basic stuff. the paddle up until they went because they wanted for their museum. Got it. Okay. So what else?

But when you say you can tell from like, give me the most basic stuff. Like for me, I can, you know, certain things in my business, I can see if somebody's full of shit or what they're doing because I've been in the business for a long time. So I'm with you. I read that part as well. But I'll be able to say one, I'll look at this, two, I'll look at this, three, I'll look at this, four, I'll look at this, five, I'll look at this. How do you know somebody's the other day we get an email, hey, you know, I'm stuck at the airport. Can you please send me $2,000? My credit card is not with me

Oh shit pat needs $2,000 first step is what go check the email. Oh, it's not Pat's email It's fraud right like basic stuff like that. It's what are some trust and verify and really process So any watch that comes in we do buy a lot of watches from the public when it comes to buying b2b I only deal with dealers with whom I have recourse. So if something happens down the line, or something is wrong, I know I have recourse. I can return the watch for a full refund. So I deal with trusted individuals.

But when it comes to buying from the public, it gets a little bit trickier. So we have a service center. Every single watch that comes in from the public goes to my service center. So I have three watchmakers sitting there. They will test the watch. I don't care if it's a brand new Rolex,

and it seemingly looks okay, and the paper's okay, and everything is okay, it still gets checked inside and out. So the minute that, if you open up a watch, a professional watchmaker opens up a watch, they'll tell you if the watch is fake or not, or parts were replaced. If the watch really new, isn't actually working properly. So we do a full blown test.

Cost me to the tune of 30 grand a month to do that, just so you know, just a checking process. That's number one. So you gotta qualify a watchmaker to do so. After it comes back from my watchmaker and it hits the sales floor, there's another check. Adrian, my head buyer who you just met earlier. Again, it's a quick look now at things like papers and boxes.

There's a lot of telltale signs. Again, they all come from experience. But at the end of the day, I make you sign your life away when you sell something to me. If you have a go through the selling process on my website, you'll see that you're gonna have to provide all the profit to me. If you have a go through the selling process on my website, you'll see that you're gonna have to provide all the profit identification.

You're gonna have to provide certain paperwork, sign a certain contract, right? So people will shy away to try to fraud people like us. They'll usually go after the smaller fish. Yeah, so you know, back in the days, I'm from Glendale. So there was a lot of cars that were salvaged, were not pink-slipped, they still sold, and it wasn't shown salvaged, and you sold more. So you kinda had a way of cars that were salvaged, not pink slip, they still sold and it wasn't shown salvage and you sold more so you kind of had a way of you know doing that

and then eventually they couldn't do it anymore because it was regulated, it was reported and now we're kind of looking at the it's like hey man you have a salvage course not a salvage car this is a salvage car it's not thirty thousand dollars it's 18,000 dollars well no you have no idea what you're talking about you had an accident and it totaled this and here's what you're doing. Oh shit, you're stuck, you're caught, right? Credit, experience, trends, unit, equal facts. What is the equivalent of that in the watch space?

Doesn't exist. Doesn't exist. Does not exist. Why isn't somebody doing that? Everything nowadays is about grading service. Why isn't there a watch grading service? You create your own rapport within the industry. And there's not that many of us that have the type of rapport where I was just talking to one of you guys before we started.

I told him a story how I can walk into any room in my industry and I can walk out with $10 million worth of merchandise without signing a single piece of paper. That's the reputation that you build up over the years. And that is what it's all based on. My industry is still very much based on a handshake. Go ahead. and that is what it's all based on. My industry is still very much based on a handshake. But when it- Go ahead.

So if you were to say, are there the top, like when you buy autographs of presidents, trying to buy an autograph of Nikola Tesla, is this a real autograph of Nikola Tesla? Is this a real autograph of George Washington? Is this an autograph, not, you know, a big collection with that, how do you find that out? There's typically five guys who do COAs, certificate

of authenticity, who have been around a long time, who have the most credibility based on experience, 40 years. If the COA comes from this guy, boom, you're good. This is a real autograph. If the COA comes from that guy, boom, it's good. Who's the COA from? Such and such. I've never heard of them before. They just started two years ago. I'm not trusting this. That's a fake, right? You kind of move on. So, billion dollar idea for the watch business. What if somebody came out with a grading service for watch?

It's been tried. There's a multitude of companies out there that are really concentrated on something what we call, is the watch clean? Because the watch could be stolen, right? That's the biggest issue that you face. In our industry, you never know. A watch could be stolen, right? That's the biggest issue that you face. In our industry, you never know, a watch could be stolen. I've had issues, in fact, three months ago, a guy calls me up, hey Roman,

I bought this Richard Mille from you, I just want to get it serviced at Richard Mille, they're telling me the watch came up flagged, it's red. There's no real system in the watch world to know if something is stolen or not, there's not a centralized system. Think about it, Europe, you have the Interpol here, you have the police, you have insurance companies, you have all kinds of stuff.

You have guys claiming watches to be stolen just to get paid from the insurance company fraudulently, and then they go out on the open market and they sell them. Guy bought a watch from me five years ago. Said, all right, here's the letter from RM. Five minutes later, the guy received a refund. I went, pulled up my invoice from five years ago, who I bought it from. I showed the guy the invoice, showed him the letter. the guy received a refund. I went, pulled up my invoice from five years ago, who I bought it from. I showed the guy the invoice, showed him the letter.

He sent me a refund. It goes down the chain to the guy that doesn't have recourse, which is why it's extremely, extremely important to have recourse. But as far as the systems are concerned, it's extremely difficult to come up with that database. Number one reason is privacy. Would you want to take your baseball card collection and give me every PSA number of every card that you own and put it in there so it's for public view? It's kind of tough. These things have serial numbers. Some people don't want the world to know what they own.

Let me tell you. If there was a grading service and that was done by professionals who had access to things with serial numbers. I think these watches, instead of selling for a million, they'd sell for seven million. I think they would sell. You may be right, there's only one problem.

What's that? I am that pro. And there's not guys out there that are gonna be able to do. There's not a guy out, eBay tried it. Right. eBay did an authentication program. They called me up, they wanted me to pilot the program. I have a good relationship with them. I told them, I was like, who's gonna be open up these watches and telling me they're authentic? eBay tried it. eBay did an authentication program. They called me up. They wanted me to pilot the program.

I have a good relationship with them. I told them, I was like, who's going to be opening up these watches and telling me they're authentic? Show me who your expert is. You expect me to send you a brand new $100,000 Rolex for somebody to open it? Well, you know what happens is, here's what happens. What happens is, like, there was a moment where credibility from BGS went to PSA. And the market had, wait a minute, who's authentic? That guy left BGS, Beckett, and he went to PSA. And the market had, wait a minute, who's authentic?

That guy left BGS, Beckett, and he went to PSA. No way, they also went, this other guy went, that other guy went, what? And they're giving away nine and a halfs for nothing. PSA's not gonna give you a nine and a half. They're gonna give you an eight or nine or seven where you can get a nine and a half. So PSA eight is worth more than a nine and a half.

BGS, yes, wow, why? Because the top graders went with PSA. That's why I asked who the top guys are in the space because if this came in right now, Rob, can you do me a favor and go to CGCC? Just type in CGCC and type in Spider-Man. Maybe I'm not saying it correctly. CG, CGC. Okay.

So if you go to take one of the Cs out, so CGC, this is, uh, um, type in CGC comic books. Okay. CGC comic books. So what CGC does, click on that, zoom out a little bit. CGC is the grading service for comic books. That's what these guys do. And it was founded just 24 years ago Okay, if you type in right now most expensive comic book ever sold most expensive comic book ever sold Okay, watch what it says right there Superman one, but why it's a summer 1939 CGC 8.0 and it's sold two years ago for five point three million dollars. I try to buy this they won't sell it right and now they're Asking for some 15 million dollars for a comic book like this and what but but but but guess what I would pay for it

I would pay for it just because CGC is next to a Marilyn Monroe CGC 9.6 Playboy issue number one worth a lot of money then they did this grading with video games Rob type in the most expensive video game ever sold have you seen this stuff or now so the Mario Brothers the one the retail With the hook that one. I don't know which one it is But if you type in most look look at this one here. Yeah, Mario Brothers Yeah, that's it. So most expensive video game ever sold was so for $2 million in August of 2021. But look at the grading.

People ran to the addicts to see if they still have that leftover because that was like an extra you got with the concert. But I'm telling you, like what I'm sharing with you Roman is if I was in your world and I was really getting into that business that I would go raise 10 million bucks. I'm about to shut that entire idea ready in one sentence. There's one difference. Go ahead.

And all this stuff, wait till you stop by my office. You wanna talk about collectors. I have, I'm big on cassette tapes. I think they're huge right now. I'm huge on Formula One stuff. I love comics. I love all this stuff.

You know the difference between me bringing you these two Richard Meals here? What's that? So two Richard Meals, are they real or are they fake? I'm telling you they're real. You know who I am. I've been doing this 20 years. You trust me. I came out. You're buying them, right? So I got about $800,000 here. Each of them is what? $800 or $400? About $400. This one's a little cheaper. This one's a little more expensive, right? You know the difference between this and what you're showing me on the screen? There's no plastic case nor would these

tiners ever be practical if they were to be sealed in a plastic case. Nobody collects watches for the purpose of doing what. I have all kinds of beautiful displays for my Formula One cards. I have these frames where the flaps fit in perfectly. I have these boxes where they slide in, the protectors and you name it.

People wear these, unless you're Jake Paul and you're wearing your Pokemon Charizard around your neck in a necklace, which is still slabbed, you're not doing it with this. And that's the difference. As much as you want to have a grading, how good is the grading? The minute that this watch, I buy a brand new Rolex, customer just bought it, he flipped it to me out of profit, he just picked it up from Rolex two days ago, it's brand new, still has stickers on it. You know what I would do?

I'm still checking the watch. But you know what I would do? Here's what I would do. Let's go with that. You know what I would do? I'm still checking the watch. But you know what I would do? Here's what I would do. Let's go with that. Say you buy a watch and non-graded, let's just say right now, if I wanted to buy this, what would I have to pay you to buy this? $440. Okay, let's say $440, right?

And there's five guys that are selling this between $380 to $440, okay? But the one guy has it graded by BDC, I'm just giving a number, and it's for 600. But I know for a fact it's gonna be legit. I would pay the 600 just because of credibility, and then guess what? You would be one of 10 million people that would do that. No problem, but I think it's a bigger market.

I think it's a bigger market. Then I would take that, and if I don't care about the grading, I know it's legit, guess what, I take the case out, I take my watch, I wear the care about the grading, I know it's legit, guess what, I take the case out, I take my watch, I wear the watch. Three years later when I want to sell it, I will go back to that grading service company and I'll say, this is the watch, the serial number, I'll record it when I'm taking a watch and I'll say, can you grade it again because I want to sell it now.

Then I would sell it to somebody. You know what question you just answered? What's the difference between gray market and authorized dealers? Which is what? So you're talking about wanting to buy a watch that's graded, that's labbed, that's been authenticated. There's a slew of people out there that will still go out to the world

and pay full retail for a watch. They could easily get brand new on a secondary 30 to 40% off, but they still feel comfortable inside to walk to an authorized dealer, an actual store, where this is a company boutique or an authorized dealer, and they're buying that watch. What you're talking about is the difference

between buying the gray market and buying from an authorized dealer. Because when you walk into an authorized dealer, they're authorized to sell the brand. We're not. We're the gray market, right? This is the difference. I think this would sell more than the authorized dealer.

I think this would sell more than the authorized. But let's get off this topic. This is just for me, my fascination of knowing the fact that I think someone could figure it out and watch it. I am so with you because I collect the same things you collect them in the same space, I get it. So I'm just thinking like if somebody did that, remember that BMW, the one with Tupac that they were selling.

I don't know if you remember when that was for sale or not. Rob, can you type in Tupac BMW for sale? Okay, the one that got shot, right? Is that the one? Can you go type in, look what they're selling it for. See the number? $1.75 million. Okay. So can I fully get it from the VIN number? Can we go back and check the, I don't know. I don't know if I can or not. It would be some processing that I would want to do for me to say, yeah, this is the wrong, this is not, maybe they changed it, maybe they did this. Who's the grading service? Am I going based off the env? Do I trust 100% the env? I don't know. But again, for me it's purely the grading.

But let's go back to it. You said something. You said you made a video when the fact that if you have this many watches with Patek, they'll make a custom watch for you, right? Okay, so for a guy like me, I bought this watch. This is the first watch I bought. I bought it in 2015. I was in Paris. We had flown in from Dubai and the watch couldn't be sold for another six months. I go downstairs to the sales. I said, what do you have that you can't sell? He says, I have this. I say, what is this?

I have that. Why can't you sell it? Well, I can't sell it because the market, we just got it. There's only a few of them, but I can sell it to you in three to six months. I say, I'd like to buy it. I'm telling you, I can't sell it. Anyways, by the fifth day, we build a relationship. He agreed to sell it to me.

No problem. I bought the watch. I bought this for my son. This is for my oldest son. I bought another Patek for my son. I bought a Senna, my daughter's Senna. I bought a Ford. My wife bought everything I own with watch. I'm not in the business of reselling. I'm in the business of, hey son, I wore this because when I was in, you know, France,

I bought this for you because you were three years old and I said one day this is going to be yours. I wore this watch when we sold our company and I was signing I was wearing this history family it means a lot to my kids right? You're the same with art. I love it so but but going to it for guy like me who for would like to put on a big 50th birthday party and reward the people that have been most influential in my life. And I would like to find a way to make a custom watch collection to sell it to them, okay? Who would I go through to be able to do that?

Nobody? You're not going to Patek. You're not going to Rolex. You're not going to Omega. But there are plenty of brands that would love an opportunity. And so for example- Big brands or like the new ones? So for example, I bought with me a Ulysse Nardin, right? This is a Giacchimarte middle repeater, striking time. This is one of the

most complicated movements that a watch can have. It literally chimes out the time, right? So it will, if I wind it up, you can hear it. You can actually, let me just wind it real quick. And it's also a mechanical automation, kind of like the big clocks ahead of medieval times. So if I depress this, you can, well, you can take the headphones. I'll see how the guys are moving, I'm striking the belt. Wow. By the way, that's a beautiful watch. So that's a-

Come close and see Daniel, come here, you gotta see this. They made only 30 of those. Okay. It's a $380,000 watch. You got to see this They made only 30 of those. Okay, it's a three hundred eighty thousand dollar watch And obviously what you're paying for is the complication not only does it chime out the time It also actually animates on the screen as Jackie March quick side story goes back Literally means guys ringing bells to think about medieval times when either you wanted to tell people what time it was Or you wanted to warn them of a fire or anything like that.

That's why it's called Jackie Martz. Although there's another theory that in 1905, some monks wrote a book that talked about Jackie Martz, a guy named Jackie Martz, who invented the automation of the clocks, actually striking bells automatically on top of the towers. But there's always a story behind this stuff.

So you go to a brand like- So not Rolex, not Patek, not Omega. You go to a brand like Luis Nardin. I might just, they've been around since 1846. They made their money in marine chronometers. In fact, they were so good that the English Navy ditched their marine chronometers and they were able to use theirs

if they sold them throughout the time. US Army, same thing, they used chronometers at sea because back then, you needed to know where you are at sea. And what you needed to know is the difference of time that has passed since you left the port of entry so you can calculate where you actually are. So they made their big name. They've been around since 1846 continuously.

This is a brand with a ton of history. So this is a brand that would actually value somebody like you, and remember, Patek, Rolex, some of these brands, they'll have their noses up in the air. Omega is owned by a big group, right? It's the swatch group. How about AP or VCE or those guys? AP is also going to be very difficult. A lot of these companies, the industry that you're going into, they have their noses up in the air and they think about how is it going to

affect us and what is that going to start? If BBD wants to have a watch made, then the next guy is going to want to have a watch made. What they do instead is they take on ambassadors, they make limited editions for them. So Jay-Z was an ambassador for AP. LeBron was an ambassador for AP. John Mayer's an ambassador for AP. They either make a limited edition or they'll make a limited run that is designed by the person.

But if they do a limited edition of 30, they're not giving Jay-Z the 30 to do, they're giving one to Jay-Z. That was a big thing, by the way. Francois, the ex-CEO of Audemars Piguet, he came to the Swiss and said, hey, I wanna use this hip-hop artist as an ambassador. And they all flipped out.

What are you talking about? World of Hip-Hop AP, where this, because remember, these are all suit-wearing, white gloves, very conservative people. They only allowed him to create, they did 10 pieces in platinum, they did 50 pieces in rose, and they did 90 pieces in stainless steel,

and that only allowed them to sell it in America. But when they sold like hotcakes, this thing came with an iPod signed by him, big box, awesome watch. And when they saw the success of that, that's when they loosened up a little bit. Oh, there it is. And what did that, so they gave it to Jay-Z,

and then they sold the rest. Jay-Z got one to wear one as an ambassador, sure and they sold the rest and they sold like hotkeys in fact They sold over retail this is back in those times The AP officers with limited officers were the hottest thing and I was selling a ton of them So if I stainless steel wanted back then retail for somewhere around that 15 to 17 thousand operations They were selling on a second there for 35 Wow and what's it selling for today? 17 the $17,000 operations that were selling on the secondary for 35. Wow. And what's it selling for today? $17,000. This is when people ask me about watches being an investment. You have to remember one thing.

You are joking. Trends. Think about the trends. Because this is what's selling that's the latest and the greatest for A&P. The frosted rainbow. This is the watch that trades at double its retail value today. Trends. Remember, this is something you put on and you wear and you flex with. And now what do you do? With the fuel of social media, you look up to those that you admire on social media. What's make this special?

So this is a, first of all it's a frosted finish. So if you notice, notice, feel it. Oh my God. It feels like sandpaper a little bit. This is all hand hammered. Daniel, can you zoom in on this? It feels amazing. Right, you also have a rainbow bezel. So these are sapphire bezel done as a rainbow. This is obviously Rolex started with a rainbow Daytona and then everybody kind of caught on with it.

It's also a skeleton double balance, it's super accurate watch. So what does this go for? This is gonna cost like 380. This is 380, but in this, when it first came out, what was this when it first came out? The MSRP on the watch is 168,000. And it's selling for 380 right now.

Exactly. What is it gonna be worth in 15 years? Back to 180? This is where I wanted to talk to you about investments. Notice I brought a little bit of everything. I brought the latest and the greatest and the hype, but I also brought you proven pieces. The last auction result on this watch was a million and a quarter.

And that watch is how old? This watch dates back to late 70s, early 80s. Late 70s, got it. So that's an investment. You buy that, you set that aside, you're going to be fine. But then here's the thing. It also depends on the quantities, right? And who actually owns these watches in the market?

So if you think about it this way, if I needed to get you two of these, you call me and say, I want one for me and I want one for him. I would say sorry. I like them a lot. That much? Not that much, but I like them. But my response to you would be,

I'm sorry, I'm gonna have a hard time. You're gonna be like, well why? Well there's only six cities in the world, so what am I gonna do? I sold one of these before, so this is the second one I have yeah I would go back to my client who paid me a million two and say listen Would you consider selling your watch and the people that are buying million dollar watches? They're not exactly somebody that are motivated by money

They're motivated by things that nobody else has and they can't have and I'm gonna have to make them an offer He can't refuse so if you buy that watch and tomorrow somebody wants it and say, you know Roman apart with it but I'll need two million. Imagine if you owned the highest grade at Mickey Mantle, the one that sold for 12 million bucks, right? And you're that collector. What would it take for you to get rid of that card? It would have to be some ridiculous offer

or something where you're, oh, you know what? If you get me the number one Superman, I'll let go of this. Like on Ken's show, right? Remember that whole ordeal with the comic books, the last episode that he did, or the last season? By the way, I'm interviewing with Alex at my office when I get back on Thursday.

They're doing a whole interview. They wanna talk about Formula One and collectability of all that stuff. Alex Guiamma, the one that was on the show. Yeah, yeah. So, okay, so let's go back to this. So we, so again, Patek, the idea of that watch that we looked at, you and I, the Grand Master, Rob, if you can go to it.

So this watch, I think Sly just sold his, right? 5.2, I think I saw 5.2, was it 5? All in it was 5.5, 5.6. You're adding the 22% or whatever. We have to. Totally get it. So if you take the 22 out, you gotta put it in there. I get it. Okay. So what makes makes this watch unique where when you and I were speaking I said how many of these you did they make you're like nobody

knows how many they made is it eight is a 12 is it 16 it's not high is it less than 20 most likely yes more than 10 yes okay so 10 or 20 of this they make and it says the grand master Champ is the most complicated Patek watch ever made. It boasts 20 complications, a reversible case and two independent dials and six patent innovations, the development, production and assembly process. Staggering. You mean to tell me this took 100,000 hours to make?

100,000 hours. So I was about to buy one, you and I talked about this and you persuaded me to get away from buying it. And we talked about the dollar amount, it and I talked about this and you persuaded me to get away from buying it. And we talked about the dollar amount, it was good when we had to. By the way, just so you guys know, if you're thinking about buying a watch, you can Manect Roman and ask him a question about a watch. Whether you want to buy a watch from him or whether you want to buy a watch from somebody else, you just want his counsel, you can send him a Manect and I would highly recommend

you ask an expert like him before you buy a watch. He's on Manect, download the app, go to Roman Sharp or use a QR code. You can go ask a question from him. So what makes that watch be worth as much as it was where Mark Wahlberg won, right? Sly had it that he sold and a few other people that owned it and Sly made a video saying I cannot believe I got this watch he put his gloves on the whole presentation remember when though I'm sure you see I had that watch in my

hands I'm friends with Sotheby's so I was there to preview what makes that watch that special that right off the bat it's not like it's an old watch it's not like a prince had it a king had it a president had it it's not like that's a watch from the Shaw it just came out five years ago and they're already asking that big of an amount right there. So for 5.4 million dollars, show the watch that he's holding, Rob. What makes this so unique? People want what they can't have. Now, Patek has what's called an application process.

In order to get up to that watch and be able to get it from Patek at retail, which is roughly about half that, right? You would have to have a history with Patek dating back years. You have to start from the ground up, and you would have to buy an X amount of watches over years upon years upon years. Then you have to go through a vigorous interview process with Stern.

He'll literally fly you out to Switzerland. Before he flies you out to Switzerland, he's gonna say, what's your purchase history? How many pieces have you bought? You literally have to work your way up to it, starting with a $20,000 Pate to $200, $300, $400. To get to this, which is the ultimate grand complication, and this is the biggest scam that a company can create, and I salute them for it.

Imagine this, you want to spend $2.3 million on a watch, you call Protect the Leap, and they say, what have you bought from us before? Where's your history? Oh, you haven't bought enough from us. I'm sorry, we can't sell you this watch. Think about it. Think about what that creates inside the mind of a person that can afford this $2 million watch.

And what do they do? They go out in the secondary and they pay to say, hey, F you, I have the watch. It's the inevitability. If you can't get it, you want it. Same thing with Richard Mille. You can't get them. There's a line that's a mile long for them.

Ferrari, you know, Ferrari dealership and then, you know, the SP3 comes out and you look at the SP3, if you were on the list, you could have bought it for 2. Ferrari, you know, I made the Ferrari dealership and then the SP3 comes out. And you look at the SP3, if you were on the list, you could have bought it for 2.4 million, right? But you have to have the SP2. That's right, you have to have the SP1. And the SP1. And you have to have the SP1,

you have to have a couple of this. And I'm like, look at this guy, I just saw one two days ago in the dealership. They got a beautiful. A client of mine got that watch in purple. The car in purple? The car in purple. Holy shit. And I'm like, why?

Well, he's got two new. Two new purple. To your friend, whoever your friend. And I'm like, why? Well, he's got 20 of them. I want the purple. Yeah. To your friend, whoever your friend is, not my taste, but good for you. When I see this car, you're just like, you freaking car, I want you. It's gorgeous, right?

And I'm a LaFerrari guy, my youngest son liked Enzo, so we look at the Monza, we wanna get some kind of a collection to put in the hanger, but you want this SP3. If you're not in the system, bottom by the way Jay Leno cannot stand Ferrari's point system cannot stand How they work I mean he's been so critical that he doesn't even buy anything directly from them because he can't stand the fact

That they do what he do you need to own all these other cars? With Patek similar system what you're saying? It's literally exactly the same. Okay, perfect. So, whereas in Ferrari, they want you to have a Testarossa, they want you to have a Pista, they want you to have a Italia, they want you to have a V12, they want you to have a this, engines,

different models that they look at, right? What's Patek's? Patek's is, again, it's literally a volume. Is it just dollar amount or volume? It's a volume as well as you going up in complications, right? So let's say you started with a California, let's say, and then you moved yourself up to a Pista 812. Is it buying directly from them or from anybody?

It's buying either directly from them or buying from their authorized dealers. Oh, perfect. So if you have bought it from authorized, okay. So the levels, does it eventually go to the point where they will make a one-off just for you? Yes. So why did you say they don't do it? Like you said earlier, the exceptions are so rare. I've been doing this for 22 years.

Yeah. Okay. I sold four one-off paddocks in my entire career. So the sales guy in Venice, I just talked shit about you, he was telling the truth. So you could get to a point that they make one for your family. Yes, but the amount of spent and the connection, it's also not just about the spend, it's also about who you know

and how important are you of a figure. It's not about sometimes even the spent, but they have shied away from doing stuff that's unique for many, many years. The youngest piece, Unique Patek, actually we sold one last week, but that one dates back to the 70s. It was a unique for many, many years. The youngest piece unique Patek, actually we sold one last week, but that one dates back to the 70s. It was a unique dial, special order dial.

It was an $880,000 Patek. But there's only one of it. There's only one. I sold a 3939, if you saw that watch, we'll call it the billionaire's watch. What in Patek 3939? That look like a half a million bucks to you? Is that what it is?

Well, the one I sold was, I think the retail originally on the watch was somewhere around 300 and something when I first sold them. This watch was made with a black dial for someone. At the time the market on the regular one was 350,000, that one sold for 550. Again, somebody had a relationship.

Somebody had somebody on the inside, don't forget, that happens too. Because that particular watch didn't really come from a collector, it came from an individual who poses a collector for many, many years, had some inside hook within the company, managed to get that watch. And then when it does, when it does happen

with that relationship, whoever the individual is, what does that look like? Is that you go in, what do you want to be unique about it? What would you like it to have? Does it have meanings for your family? Is there certain things that will? There's gonna be limitation out the wazoo. There's not gonna be, oh, I wanted an orange dial

with these markers and I want you to put a diamond at 11 o'clock, that doesn't happen. But is it kinda like you go there and the artist tells you, here's what we're gonna put together for your family or do you have any influence over the art? You have some influence. For example, you can deviate just a tiny bit because most of these unique watches, they usually have some sort of a different dial that usually translates into a color.

So if a watch is normally not made with a black dial and you're asking for a black dial with red markers, they may entertain that. Got it. So it's not dramatically... You're not going to see a dramatic difference. Most people won't know that that's a one-off. And why is it, when it comes onto watches? Would you put them at the top are they the cream of the crop? So Rolex is king and Patek Philippe is the Rolls Royce right when I say king I say in terms of sales I mean it's a company that spits out over a million watches a year There are sales in 2023 were more combined in the other three brands below them in terms of sales, right?

Rolex is number one in terms of sales. Rolex is number one in terms of popularity up here. There's Rolex, Mercedes. Rolex, yeah, I would say so. And then Patek is Rolls-Royce. Patek is Rolls-Royce. And what makes Patek Rolls-Royce? It's the prestige.

It's the prestige. Majority of their catalogue is pretty conservative. They tend to a older crowd, a more successful crowd, I would say, Rolex is a first money watch. My very first watch was a Rolex I bought at a pawn shop for a thousand bucks when I got my first corporate job. My Rolex walked into the room five minutes before I did. Hey, everybody look, I have a Rolex on my wrist, right?

People don't do that with the tech. Why not? It's more conservative. If majority of their lineup, what's hot now is their Nautilus, is their stainless steel stuff. The young kids are wearing that because it's hot, it's popular, it's in all the rap songs, right? Where 90% of the Patek catalog, you can get at a discount, you know that, right?

90% of their entire catalog I can bring to you at a discount. How much of a discount? And you wear from 10% to to if it's on a secondary Maybe less than half Don't think that paddock and every single brand to include AP a big almighty like Rolex Rolex is the mightiest in terms of Majority of their catalog today trading at over retail. That's how popular they are with paddock. It's Nautilus. It's Aquanaut and a few other brand I just type right now P Patek's Market Cap, 2.37 billion dollars,

and they're the third largest market cap, and it got 6% of the market share, okay? When you look at them. And Rolex. Rolex, Rob, can you type in Rolex Market Cap? Rolex is at 11.25 billion dollars, market cap. Cartier's at 3.59. Omega's 3 billion.

Omega's 3 billion and these guys are at 2.6. Omega is the money horse for Swatch Group. So I noticed a stat that Humberto was showing me earlier. Only 2% of watches are made in Swiss, Switzerland. Yet 50% of the value of watches is from there. Why is that? Imagine what one is good for, right? If you look at certain countries, you can say,

hey, you know what, Belgians are known for their chocolate. It's the best chocolate. They invented chocolate, right? I was actually at the shop where the chocolate was invented in Brussels, right? It's in the middle of Times Square. The shop is still there. It was done for medicinal purposes.

How good was it when you had it right there? I love chocolate. So for me, I'm just like, and then, but it's the idea. I am in the shop where it was invented and I'm eating this chocolate. It's like, you know? And if you think about a fancy watch, you automatically think Swiss and that sticks with you.

You think about car engineering, and I'm not talking about Ferraris. You think Germany, right? Why though? Why is the history Swiss though? Is there a history of two guys and it's got some? Original watch started, the original very first watch as we know was a drum pocket watch that was done.

The oldest known example that exists today dates back to 1525 to Germany. From Germany, it went to England, it went to France, and then eventually it settled in Geneva back then. Geneva was a state, a country state. It wasn't part of Switzerland, it was just Geneva the state, right? And that's where all the craftsmen settled.

It was just a question of where they were geographically. Now the minute there's a center created for something, we're going back to 1700s, 1600s, the minute there's a center that's created for something, it becomes a hub, right? Just like a port city becomes a port and becomes an important trade route, right, or trade hub. It's the same thing.

And once you have a certain population of these craftsmen, the others will flock. Apprentices will flock to learn, and eventually that will grow, and that's how you end up with Geneva being the capital of the watch world. So it's kind of like Silicon Valley. It's what it is. Exactly.

Exactly the same thing. That is exactly that. They're over there building these. By the way, I saw this video, Rob, if you can pull this up about Rolex. And this other guy who is a, not this, Rob, if you can go to the other one where... I brought it, Jacob. You did. We'll get to that. There's a watch about Rolex where it says, hey, I can't stand the fact that they're doing XYZ about Rolex and why do they do this similar thing that Jay Leno said about Rolex I send it to you Rob. We looked at it at lunch. If you don't have it, I'll text it to you Here it is and it's the distaste for whatever Rolex does if you look at it I

Just send it to you. You can pull this up Yeah, and it was what makes people annoyed about Rolex. And I'm curious to know what your reaction is going to be to this. Go ahead, Ram. Rambo, buy a Rolex. What's so funny? We ain't selling you a Rolex. Well, I got the cash right here. If you buy $50,000 worth of jewelry, I'll put you on the waitlist. $15,000? How long is the waitlist? Yep. Any anywhere between one to two years. Okay, let's get 10 of those watches right there. Thanks for your purchase.

We'll reach out if we have a Rolex for you. Yeah, this is one of the reasons why I am absolutely sick of Rolex. The attitude, the arrogance, and definitely the dealing under the table. Because this happens every day. I like, I s*** you not. I was in America two weeks ago. This is literally what a dealer said to me. I'll help you out. You need to help me out. You need to put some money under the table

It's a disgrace and it's bad for the industry I would like to buy is that really so the the fat funny guy on the screen is actually a friend of mine when he Said he was in the US. He was at my house But let me let me let me tell you how it all works think about a store You're a dealer you have a Rolex line, right and you're a business All right You get allocated only so many pieces now you go online And you say the number one most popular watch in the world is the Rolex Daytona

It's the most known watch right and it's also the one that's consistently has traded over its MSRP dating back to when I started When the MSRP was 5400 right today, it's 16,000 I'm a dealer. I'm getting allocated this watch but along with it I'm also taking 20 30 40 other pieces that don't sell over list. In fact, I have to discount them They're also hard to sell and I see a Roman out there selling at the peak of the market during kovat The Rolex stainless steel Daytona traded at sixty thousand dollars Client calls me up and he goes Roman. They're giving me a Daytona at retail. I Said okay, but they want me to buy a pair of earrings with it for $35,000. Do the math.

35 plus 16, we're at that $55,000 price range. What do you think of these earrings? What are the really worst? Because I'm going to dump them. I don't need them. Seven hundred. I told them I can sell them that pair of earrings for. If you did the math, at the time that Rolex traded at about $50,000, you take the earrings,

they're not doing anything illegal, but Rolex can't penalize them for it, but at the same token, they're getting all the money. You know why? Because all that dealer has to do is pick up the phone and say, yo Roman, I got five Daytona's for you, what are you paying? Oh, market is 55, here's 50 grand apiece. That's it, it's that simple.

Wow. What happens with the Ferraris? What happens in car dealerships, when these things are reselling for it? You mentioned the SP3, what's the market, five million on it, double? Four or five million dollars. Exactly.

Yeah, yeah. But now I got a guy that's sitting there making a $65,000 salary as a salesperson, and his job is to stand there all day, say, no, you can't have this Rolex, let me put you on a list. I walk in there and say, hey, turn Grant under the table, what is he gonna do?

It's real people, it's real businesses, it's not, it's just reality. Yeah, I mean at the end of the day when you think about the business side of it, it is business. I mean you gotta find a way to, but again it goes back to it. When I was in Monaco and I'm driving around and I'm talking to everybody about watches, what should I buy? You should buy this and I'm trying to test everybody what they're gonna be saying. There's a whole street in Monaco that's all watches. You go from one to the'm trying to test everybody what they're gonna be saying. There's a there's a whole street in Monaco That's all watches you go from one to the other guy to the other guy today and everyone's talk shit about each other But they're all friends. It's an interesting you should buy from he's a good guy. We should buy for me

Here's what I can do for you. And I've been the 47th Street in New York Similar is it do you have bulletproof underwear? When you go there no, but but but it's an interesting thing when it comes down to these watches. By the way, I saw an article, Rob, if you can go to this, and the president's timepieces, I don't know if you've seen this or not. We have the story right here. So if you can zoom out, presidential timepiece, look at president's luxury watches. Okay, and you get to judge to see how their taste in their watches is.

Keep going. Go lower when it shows the pictures, Rob. Go a little bit lower. Okay, there you get to judge to see how their taste in their watches is keep going Go lower when it shows the pictures Rob go a little bit lower. Okay, there we go. So Joe Biden has What is that Rolex right there? It's a date. Just 41 jubilee Okay, go to the next one Rob I'll make a speedmaster. Okay, so far. What do you think about his taste for watches? I think it's very basic and plain and these are core pieces of anyone's collection that's into watches, right? And they're also very subdued and they're modest. Makes sense, it fits him.

Speedy is an iconic watch, another iconic watch from Omega. This is an iconic watch. Seamaster and Speedmaster, two of the most iconic watches from Omega. Not that expensive. Not expensive at all. But it's something that you ought to have in your collection. Not that one, the Speedmaster above. The one above, can you go back above, Rob? Yeah, that one that one that one right there should have it in your collection is what you're saying

You can buy them on a secondary pre-owned anywhere from two to four thousand. Oh, really? Okay. Let's go to the next one Rob Keep going. How about this one? Seiko The $300 Seiko again. This is this part of staying humble This is probably something that was given to him by somebody, carries something. That meant? Mind you, this is the watch that almost killed this watch industry back in 1969 when they invented the quartz watch, you know that, right?

Tell me about it. Well, so you had the quartz crisis in 1969. The Japanese came out with the Seiko. And remember, when it comes to watches, while people think that the main thing is aesthetics, innovation, and things like that, the number one thing every watchmaker chases is accuracy. That's why you have all these tourbillon watches,

triple tourbillon and so on and so forth. That little thing almost single-handedly killed the entire Swiss watch industry. Oddly enough, what saved the Swiss watch industry, you're not gonna believe what it was, it was the swatch watch. Because the gentleman in charge at the time said, you know what, we're gonna fight fire with fire

and we're gonna create a Swiss quartz watch called the swatchatch watch. And all the proceeds went back into the kitty and they saved brand. If it wasn't for that, it wouldn't be brands like Blancpain, Gloushute, and many, many, and Breguet, and many, many others that would have died. Interesting, I did not know that story.

And now imagine, that's like getting, that's like, remember, did you have a Blackberry before? Yes, of course. And I swore by my Blackberry, and I would never get rid of my Blackberry. I loved it. BBM Messenger and all that stuff, and then the iPhone came out.

What happened to the BlackBerry? Game over. They made a movie about it. I don't know if you've seen a movie about it. Interesting. Okay, how about, well, this one's. This is the one that said it was gonna kill off the Swiss watch industry when they came out in 2004,

I think. Did it at all impact it? At all? Zero. Zero impact. And they said it was going to. They thought this was gonna be the next Quartz Crisis. I bought one of them.

I didn't get rid of my fancy watch. I had it on the other wrist and then I realized, I have enough notifications in here. Do I really need my wrist buzzing now? I'm good. And I took it off two weeks later. You don't wear it anymore. I don't wear it. I bought one, I wore it for about two weeks

and I never wore it again. Same, same? Two weeks. Yeah, exactly two weeks. I couldn't do it. And by the way, my son, it's somewhere in the hood, I don't even wear it anymore. Did you see that comedian that told a joke about the woop? No.

His name is Modi, funny ass guy. He goes, these young people, I don't understand, I'm on a beach, I see this guy, and he goes, I'm like, what time is it? He goes like, oh, my watch doesn't tell time. He's like, well, what is it? It's a woop. Find him.

There it is, that's it. Oh my God, that's the most hilarious thing ever. Small generational differences. Little things. I wear a watch. I always wear, since I was 13, I've worn a watch. Millennials don't wear watches. It's true.

Apple Watch is not a watch, sweetheart. Checking your emails on your wrist is a cry for help. That's not a watch. Oh, wait, wait. The summer begins. We're on the beach. I see Leo with a black watch. I go, Leo, what time is it? He says, it doesn't tell you the time.

Your watch doesn't tell you the time. It's not a watch. It's a whoop. A whoop? What does it tell you it tells you how you're doing I said well I look at my wrist I see a gold Rolex I know I'm doing good for him. You were saying. Yeah, so. So you had it for two weeks and you got rid of it as well.

Same here. Let's go to the next one. So that's Joe Biden. Here's Trump. Vashra and Constantine. I mean, this is most likely, again, something that was actually probably given to him. I would imagine this is something,

because this looks like, they did a remake of this watch, right, and this looks like the original watch from 1968. This must have been passed down to him from someone. Every so often they'll do a remake, they'll take historical watches, they call it the History Collection. They're dubbing this to be the History, I think this is actually one of the original ones

from 1968. Is this a popular watch or not necessarily? It's not. Okay, go to the next one. How about this one? Patek Philippe Ellipse. Now the Ellipse, and this is the smaller version of it, this is what was known as the old man's watch.

This was the paddock's answer to the big chunky gold watch to show off kind of thing. Never really took off, was never popular. In fact, there's an Ellipse out there, with the exception of a few rare ones, that sells way below its original price. What to sell for today if I wanted to get one? If I wanted to buy that, if I was to buy that today, they put a market price of 16,000 on it,

I would be a buyer below 10. You gotta be kidding me. Wow, go to the next one, Rob. Wow, the President. They date. Okay, so this is an old, this is an old date. It's one, one eight zero three eight, right? And you have quick set dates and you have,

not quick set, we have to turn the thing, right? So a non-quick set today, wholesale price, depending on condition, that bracelet looks beat to shit. Depending on condition, it's anywhere, wholesale price to buy anywhere from 10 to $12,000 sell for around 15 16 I would pay donald trump a million dollars for his for his yes. That's a different story. Yes, keep going rob Keep going rob. Who do we have next? I think this is obama now. Let's see what he's got

You're gray I mean Obama historically worn what we like to call fashion watches, right? These are well-made watches they're not made to the highest standards. Some of the stuff was made in China like movements. A lot of them are quartz and they're basically cheap, good-looking watches, hence they're called fashion watches. So this is not a significant watch.

Means nothing. It just looks good. You buy it for $90. Exactly. Let's see the next one. Now this is a Rolex Cellini. These are no longer made. This is the Rolex's stepchild, as I like to call it.

So when people say, are there such things as unpopular Rolexes, this would be it. This is their way to show it. Unpopular Rolexes. Remember, Rolex was always what? A tool watch, right? Original, back 50 years ago, 60 years ago, this was a tool watch. You needed to tell the time. You need to measure somebody's pulse, right? That's what they use them. They use it for a tool, right? They're also waterproof. That's how the whole thing started with the waste case. This was their attempt at doing a dressier Rolex, because every single Rolex is sporty.

And it flopped. So this was a collaboration with Chilini for many, many years, and now they actually replaced it with a 1908 or something, they called it, the new model looks very similar. When you want a Rolex, that's not a Rolex you flex in, and that's why it's not popular. Interesting. Because you can tell a Rolex from a move away. Would you be able

to tell that's a Rolex? No, not at all. Not at all. Exactly. Not at all. Keep going. Obviously, that's a $40 times watch. He's probably trying to win an election. I don't. Listen, this is, and then mind you, this was a man that spent $25,000 to $40,000 on cowboy boots, but yet he spent what? 40 bucks on a watch. 40 bucks on a watch. Wow. 25 to 40 thousand dollars on cowboy boots but yet he spent what 40 bucks on a watch 40 bucks on a watch Wow 25 but that's a flex think about it's a reverse flex obviously comes from a well-off family right of course got a ton of money where's $25,000 cowboy boots but putting on a $20 watch with it it's just there's a bit of a flex to that. It's an indirect flex. Exactly. Keep going Rob. Keep going Rob.

Clinton. So Lang and Zuna or Lang and Sons. Richard and I pour them a manual wine. So market price $80,000. No, it's not. Probably picked this watch up in the low 20s, low to high 20s. Again, original retail on this watch

was somewhere around the $40,000 price range. And you'll find them in a second anywhere from $30,000 to $40,000. Wow. I don't know who came up with $80,000 price range and you'll find them on a second there anywhere from 30 to 40 off. Wow. I don't know who came up with 80 grand. Well, he overpaid for it. Bill, come on, Bill. I don't think he should.

I don't think he paid for it. If Hillary would negotiate, he wouldn't pay nothing, but keep going. Let's go to the next one, Rob. Would the salesperson still be around? I don't know about that. I don't know about that. How about this?

So, Jäger LeCoultre Master Compressor. This was a diving watch. So, Jäger LeCoultre, a master compressor. This was a diving watch. So, Jaeger LeCoultre, or Jaeger as we call it in English, they were known as a watchmaker's watchmaker. Their watches are very reasonably priced when it comes to their retail price because they make all their movements. A lot of the companies in Switzerland use the factories to create movements for them. And they were always big on a Navy Seal cake and diver watches. This is part of the master. Who would know what watch this is? Like who, in what space would people know what watch this is? With watch guys, probably seven out of 10 people would know.

It has a distinctive profile. If you see the two big crowns, see the red things? I see the two red, yeah. That means they're open. So like you have to actually close them so you can go diving. So, and market price on this watch today, on the secondary, probably maybe five to $6,000.

Would military guys own this or no? It's got nothing. Yeah, especially Navy guys or SEALs. Got it, keep going Rob. This is Reagan Rolex. Okay, so a plain old Datejust, no date. This is the cheapest Rolex that one could buy at the time. This is still the cheapest Rolex one can buy.

Today's market price, again, not Reagan's. On a watch like this, we're gonna give you from two to $4, time. This is still the cheapest Rolex one can buy. Today's market price, again, not Reagan's, on a watch like this, where they only give you from two to $4,000. This is that beginner Rolex, where you don't have a big bank that people call us for, say, hey, just let me get an old Datejust. That was the watch I first owned, I paid a thousand bucks. Not that very one, there's a lot of variation.

I know, but you own one, that's cool. So here's where it gets interesting with John F. Kennedy's. So he's got this one. Are you familiar with this? Yeah, it's an old Omega from the 60s. Most of them look like that. For $350,000 in 05? Does that make sense to be that expensive?

Well, it's because of Kennedy. Got it, Jackie Kennedy. You know the sneaker scandal that I had? People offered me 50 grand for those sneakers. I paid nine. I mean, they're still in my office, I didn't sell them. The Trump sneakers. The Trump sneakers, the ones that he signed

and they created that whole, I called it sneaker gate, I was dubbed the Russian oligarch. So those sneakers to me are priceless and this is a Kennedy piece. And why wouldn't you want that in your museum? Yeah, I would have minded, keep going, Lauren. If it wasn't his watch, I'd probably pay 1,500 bucks for it. Are you familiar with this year?

Absolutely. Well, tell us about this watch here. So again, there's another Marilyn Monroe watch that was auctioned off. This is the Rolex. They also auctioned off a Cartier, a small little tank Cartier. After that auction and the news broke, I sold 30 of them to women because they wanted the same look and feel. And those watches traded for about two grand.

I think the Cartier fetched something also, like 300 something thousand dollars. Is it true that this was a gift from Meryl Monroe to Jack? Who knows? By the way, that's May 29th of 62. She died two months later. Yeah. Maybe he didn't like the watch. Well, maybe the conspiracy theories are true. Yeah, maybe it was like, hey, why would you write something

like that and give it to me? Now my wife knows and she's going to go spend some time with Onassis and, by the way, it was like, hey, why would you write something like that and give it to me? Now my wife knows and she's gonna go spend some time with Onassis and, yeah, by the way, is there that watch, like has that watch ever shown up in an auction or anything or not really? No.

Okay, got it. Rob, let's see the next one here. What does it say? What would you do Rob right there? I was just gonna copy and paste and see if I could find the watch. Okay, can you do that? Let's see if that watch is ever sold. Marilyn Monroe watch, so the Rolex watch, John of Genoa, although Kennedy never wore

this and it's widely accepted that Lyndon Johnson is the president to give the timepiece its famous nickname. Merrill Monroe made history with Rolex. What does that mean? Lyndon Johnson is the president to give the timepiece its famous nickname. What is the nickname, Rob? And since the Rolex given the president it was officially the first date the president although Kennedy never wore this since while he's going the data gives an ability to tell it sir first watch yeah but I'm trying

to see if there's any link between it or any credibility behind the story that she gave it a lot of it's gonna be here say Monroe gift made it uh to our radar, but that wasn't the only president the white house There were many A handful of other presidents with an expensive watch going the original day date Also known as the president came in at 18. Interesting 18k So the nickname they're referring to is that they nicknamed the watch the president So the watch that you're wearing the nickname is is the President. That's what you asked. So I'm asking to see if she actually gave that watch to him.

Repulio JFK told his aide to get rid of this watch and the note and it successfully stayed out of the public eye for more than four decades before hitting the auction and 05 and selling for 120. It's worth a lot more than that. I wouldn't be surprised. A lot more. Wow, so there is some credibility behind this watch.

So go back to the list, Rob. I think we got a couple more left before we wrap up on that here. So this is Eisenhower. This is FDR. Do you recognize that watch or that's just a? It's a Tiffany and Co. watch. So Tiffany and Co., again, humongous retailer.

You have to remember that while Rolex is king today, that wasn't the case many, many years ago. So you had... They were king back then? We had a lot of retailers that were kings, right? And that's why you have Tiffany Stampedtick and Tiffany Stampedtick Rolexes that date back to those times and they sell for stupid money because there's very little of them. But Tiffany & Co was a big name and guess what? They... everybody wanted a piece of the pie just like today. They wanted to jump into the game. They had a good enough name to sell it.

Tomorrow you decide to make a PBD watch, you have enough of a following, well, you'll sell some watches, right? It's the same concept. Well, Trump made a watch. Isn't Trump selling his watches for like 100k or something like that? $100,000.

What do you think about that? Horologically, not great, but from a perspective of demand and the following that he has, he will sell 147 of those watches for 100 grand. There will be people that will buy because of him. There'll be people will buy it because they wanna show him that they have the watch and that they bought his watch, right?

There are many facets to this. From a horological perspective, no, not a horological masterpiece, but from a perspective of, A, I'm Donald Trump, there's a gold watch for a hundred grand trust me there will be a hundred and forty seven people out there they'll buy it you think it long term this will have any kind of value most likely not due to the fact that they're making a hundred and forty seven of them

yes so gold sneakers by me if they made how many how many days did they make 147 so fourteen point.7 million dollars. Give or take. Is there anything about the watch that makes it unique? No. And you're a fan of this guy? Yes. I'm a fan of the man.

I'm not a fan of the watch. Okay, listen, even more respect. The fact that you can... Now, to be fair, you bought his sneakers. Yes. And what did you pay for it? Nine grand. You paid nine grand for the sneakers? Yes.

And I heard you wore it the day he won or the day after. I sent you a text, remember? Yeah, I remember that. Is that you? That's me. There you go. This is what, The Times or Philadelphia Inquirer? I don't know.

I had people as far as Japan flying to do this interview. And my phone threw up at the office. I was on Piers Morgan. I was on every news outlet under the sun. I'm like, guys, I'm a sneaker head. I collect sneakers, I've over 100 pairs of sneakers. I figured in my mind, these are worth at least 10 grand. You got the President, you got the gold sneakers, they're friends and family, only 50 made, only one signed.

How can I go wrong? I got offered 12 and a half thousand a minute after I bought them. Is there a signed? Yes. That's the whole point. You have the only signed one. There were two pairs that he signed out of the 50.

So the way sneakers released is they do a friends and family run, right? The regular run was a thousand pairs. Then they do a friends and family. Those are the ones they usually give to people and think kind of like the Rolex I showed you earlier. So this was a friends and family pair. Now, regular sneakers, forget Trump sneakers,

any other sneaker that's friends and family, trays usually five to 10 X, it's regular pair because they're numbered and it literally say friends and family on the box. That's what this was. On top of that, it was signed by him. So I said, sneakers are worth at least 10 grand. I walked back to my son, who's in the sneaker business, and said, Dad, you out of your mind.

How much did you pay? Two minutes later, a guy walks up, he's like, I'll give you 12 and a half. My son is like, okay, maybe it wasn't stupid. Right? And then when the story broke, and I was dubbed a Russian oligarch, the highest offer I had on that was $45,000.

For the shoe, you sold it or no? It's in my office front and center. You won't sell. Listen, because of that I got to meet him. I made the video where I talked about how the world went crazy on me and dubbed me an oligarch and this, that, and the other. One of the guys that follows me on my YouTube channel, who's a big watch guy and a fan of my channel, showed it to the president.

He showed me my reaction video to people dubbing me a Russian oligarch. I'm like, guys, I'm an army veteran. I was born in Ukraine. Get out of here, right? I was laundering money to Vladimir Putin by buying these sneakers. You understand, right? Yeah. And guess what? He showed him the video. He's like, I want to meet this guy. I get a phone call. I get on the plane. They say, you know, I'm at a golf club having lunch with the guy for two hours. It's great. How was it?

It was amazing. It confirmed my beliefs of why I wanted to vote for him is the fact that he's not a politician. He's a real human being with emotions. And he is exactly the way he is in person. It was a very casual conversation for two hours. We talked about business, politics. 15 minutes, he's talking to my son

about sneakers and what he thinks. I'm like, here's the president of the United States, 78 years old, talking to my 20 year old and asking him for his opinion, I'm just like. Right, and it was just an amazing experience. You feel a powerful presence in the room, yet you don't feel like you're being talked down to, right? The one thing that did it for me that,

that's really a real human being, none of this is an act, is his phone rings, picks up. His voice changes, tone of voice changes. I knew it had to be Melania, because one of my wife calls and I'm in the middle of a big business meeting and I'm Mr. Big Bad-Ass CEO, and then my wife calls like, oh, hi honey.

It's literally like, it was just real. And it confirmed that that's the guy I wanted to vote for. Very cool, I love that. And you said you're from Ukraine. Yeah, Soviet Union originally. I get it, this is why the five wars going on. Your thoughts on Zelensky or Putin, how do you feel about those guys?

So one of the biggest heat that I caught after all this, how can you support Trump and how can you, you know, he wants to cut off aid to Ukraine. I'm like, idiots, the war will stop the minute he walks into the office. He will be the one to stop the war. There's too much money being made on both sides. And I know how corrupt Ukraine is. I know how corrupt a lot of the former Soviet republics, China countries are still are. It takes decades upon decades to get to a system where it's somewhat reasonable in terms of a government that is not corrupt. And I know it firsthand.

If you want something done in Ukraine, you can pay people off still. Even all the way at the top? Even all the way at the top. I cannot deny or confirm. At that point, I'm not at that level, but listen, I have a nephew whom I got out of there the minute that the war started, and I've visited him numerous times,

and he was doing extremely well. He was in the restaurant business, had a few restaurants, kinda like a Starbucks, they call it Mary Berry over there, right? And guess what? Zoning, this. Go try to pay off a zoning officer in the United States, see what happens to you, right?

Over there, what's the big deal, zoning? Oh, there's a playground 20 feet away, here's a couple of hundred bucks, goodbye. And you get anything done. That's on a very low level. Imagine what happens on a high level. Yeah, do you think Zelensky, have you ever tried selling him a watch?

Has there ever been a? No, I don't have any direct contact. Any chance of selling Putin a watch? No, Putin wears a Blancpain Aqualung. Yeah, I saw these, these are the watches he has, right? This, what do you say about his watch? So I don't know how true this is. I don't know if he actually has those watches.

The watch he was mostly seen wearing was a Blancpain Aqualung, which is about a $7,000, $8,000 watch, right? So that one, there you go. The other ones, I don't know where they got that information. Go a little lower Rob, go a little lower, keep going. Yeah, so the Patek Perpetual 5040, about a $45,000 watch.

It's a nice watch. It is, it is. The FP Journe, this is a watch that trades at like triple its retail value. This is the entry-level Journe, Gournometrie Blue they call it. It's blue and it's made out of tantalum, really cool watch.

How much is that watch? Today's market is 70,000, 75. Not worth buying it. It is. It is worth buying it. It is. F.P. Jorn, you know, one of the, here. This is one worth buying.

This is the cream of the crop. He's known for his terribian. One, his ever second May terribian just fetched and set a record. It sold for, pull up Jordan record, 8.1 million dollars it just sold for. It's the highest record for an independent watchmaker. That watch is around 550,000.

This? Yes, that's the Jordan to have. And this is gonna retain its value? This is gonna go up in value, actually. This is gonna go up in value. So if you ask me for an investment piece outside of these vintage pieces, this would be another one I would want you to buy.

I can't fit this one in, but it's gorgeous. Open it all the way. Pull, don't be afraid. Okay. There you go. Yeah, this one's gorgeous. And that club is worth the patik. You wanna try to get an allocation for FP Journ.

There's a circle and an inner circle, and you have to literally give you a left kindy to be allocated in F.B. Jordan, which is why pretty much all of them trade on the secondary two to three to four X. This is gorgeous. This is absolutely, by the way, this actually goes with this outfit.

Oh yeah. Watch, watch, you buy it and love it. I knew what you were gonna wear. Can you imagine? All right, so I'm gonna make you an offer right now. $8.3 million. That's the watch. That was the second watch he's ever wear. Can you imagine? All right, so I'm gonna make you an offer right now. 8.3 million dollars. That's the watch. That was the second watch he's ever made.

Who bought it? I don't know. I know there were two collectors. One came in from China, and I think the other one was from Japan. Correct me if I'm wrong. There was a big bidding war, and I know that it set a record.

This is the highest ever number paid for an independent watchmaker. I mean, that's somebody who's part of a group who's around 20 years old. And Francois Paul Journe, he is a beast when it comes to this stuff. So as I said, because of the conversation we had earlier when we first met on the phone,

and you asked me about investment type of watches, I wanted to show you something that's a little bit more diversified. It doesn't necessarily have to be something that's 50 years old. It could be something that's modern that you simply cannot get. The horology is there. The popularity is there and the auction results are there.

Which which high end watch gets the most criticism? Most hate like a psycho. Those guys, you can just paint this. They call Hublot. Really? Why Hublot? Because of my little fat funny friend that you just saw on a screen, because he has a following on YouTube as well. I think my YouTube is a half a million followers.

He's like at a million and a half, right? He's extremely funny. And he is somebody that started talking shit on Hublot a little while back. Did it actually work? Did they take a hit? No. Nothing.

They just built a third, I was just in Switzerland. I was visiting some of the factories I do business with and I drove by them. They started with one five story building, then two, now they have three. Trust me, they're thriving and they're smart because they support soccer. Do you have Hublot yourself?

Of course. You like Hublot? Of course, I love Hublot. Okay, how about Jacob and company? Absolutely love them for two reasons. Tell me. Number one, you know the five times owned iconic one, who was it?

It was Drake that just wore two of them. Remember, it was all over the thing. That was a watch that was, the movement was made in China. The case was made in China. It was a cheaply made watch with a diamond bezel that had a carat and a half of diamonds and a colorful dial. And it worked off of a battery. Which one?

No, not that. Put in Drake five times zone, right there. You can see it. Second one? Down, yeah, that's it. Right? The original is actually down on the bottom. See that the colorful one, that one, right?

So the very first version he made of it, and that was a watch that was, I don't know, everything like six to $7,000. This is Jacob the jeweler, who was in a booth, who started in the booth that was the size of just this part of the table you're sitting on, on 47th Street, in the corner of 5th and 47th, or 6th and 47th, right? He sold a lot of hip hop jewelry,

he sold a lot of stuff to hip hop artists, and then he said, why don't I make my own watch? And that's what he made. It was the cheapest made watch ever. And guess what? I put that watch in the top 10 most iconic watches ever made. Really? Yes.

Alongside with masters like Audemars Piguet and Patek Philippe. Why? Because of what it did and what this man has accomplished. Going from a booth this big to where he is today, where building apartment complexes is the tallest in the world and making watches such as this, and the celebrities that wear them, he revolutionized. He took the stuffy Swiss watch industry,

and he brought the world of hip-hop and flex into it He is the king of flex. He is the guy that you want to flex here His seven hundred thousand dollars on this all yellowed cut baguette diamonds and a tourbillon. This is 700k Yes, and guess what? He now is no longer making his watches in China. Obviously. He took her all the next level Did you see Jay Z wearing the Bugatti watch he just came out with? I had that on my wrist in Geneva.

I'm proud to flex to say I was the second person to get that watch after Jay-Z. But he now uses a factory, a company called Concepto, which they make some of the most innovative movements and some of the most highest quality movements. So he went from that time zone watch to creating something like that. And that entire animation, that works.

You press a button and those cylinders go up and down And what did that sell for? What is a watch like that? The retail on that watch is 380,000. That. Yeah, and good luck finding one. You won't find that one. Worth buying or no? If you want to flex if you want to have that watch And if you believe in Jacob the man himself then yes, I'm getting one. There's watches that I hear like it Don't waste your time buying anything with those guys. I hear the criticism from guys in the marketplace on who not. I've heard Hublot, I've heard a few others, I've heard him sometimes with their one,

by the way, some of the stuff is really creative. Matter of fact, Rob, isn't there, they have a $20 million gold watch, right? Wasn't there something with that? Who, Jacob? Yeah. The billionaire. Right. Yeah, pull up Jacob and there something with him that he, yeah. The billionaire. Right. Yeah, pull up Jacob and call billionaire.

Is that what it's called, the watch? It's called the billionaire. Rob, see if there's a video. That's it. That's a 20 million dollar watch. Has he sold it, does anybody own it, does he still have it himself? Not yet, but he sold, this is one of the variations.

He made many of those, like Floyd Mayweather had one, couple other guys had one. Who has the biggest watch collection? Who has the biggest watch? It's gonna be tough to say, because you quantify by dollar amount or amount of watches. There's guys out there that have thousands of watches, but they're not that expensive.

No, quality, quality, because somebody could have a thousand, fifty thousand dollar watches. So the big stuff from the world of celebrities, you got guys like John Mayer, you got guys like John Mary, you've got guys like Mark Wahlberg, you've got guys like Kevin O'Leary. So it's not billionaires. Not really. Really?

Because Bill Gates wears a forty dollar watch. He wears like a... No, he doesn't care. Yeah, he doesn't care. Remember, remember what I told you when you said I want to see if I can get this five million dollar watch? I asked you how many guys do you know that can afford the watch? You said, okay, that's a small pool.

I said, and out of that pool, how many guys do you know that can afford the watch? You said, okay, that's a small pool. I said, and out of that pool, how many of those guys actually be willing to spend five million? Because some guys will be willing to spend five million bucks on a rookie Babe Ruth card versus an expensive watch and wear a Timex, right? It's not, watches are not, you have to be into this stuff. I was about to get it and then I put it elsewhere.

But by the way, Rob, there's a story, if you can pull this one up and then we can maybe wrap up on the finish. Two more stories I want to go through and we'll wrap up. The story of a watch, Hitler's watch that sold for $1.1 million. Did you follow this? No. So if you go to this one, there's a story of there was a watch he had.

Is that it? Yeah, right there. So Hitler's watch sells for $.1 million dollars at controversial auction. Jules DeVos and LeCol de la Poirnce and Leopold and LeLago go a little lower to see what the watch is. So despite this, Vigil and Marilyn sold a wristwatch believed to have belonged to him for 1.1 million. What is the watch? Go up to see if you can recognize the watch. Do you know what watch it is? It's a Jules DeVos Reversal from the early 30s. The Reversal was originally created in the 30s. It was made for polo players. It flips over so you can protect the watch as they're playing the watch. Do you know what watch? It's a J. J. LeCoultre Reverso from the early 30s. The Reverso was originally created in the 30s. It was made for polo players. It flips over so you can

protect the watch as they're playing the match. What's special about this watch? It's one of the most top iconic watches out there. It's made till till this day. They're about to celebrate 100 year anniversary, not too long from now. And again, what's special about it is the fact that it belonged to Hitler, that's it. You can buy a vintage reverser from the 30s for five, 10, $20,000 depending on the condition. Who bought it by the way? Alexander's Auctions, based on, Rob, go back on this, Maryland, sold the controversial anonymous,

oh, anonymous buyers. So coming in most of the auction. Who wants to be the guy to say, I bought Hitler's watch? Including the golden eagle from Hitler's bedroom, several of the genoc genocide of dictators sketches and painting and dress that belonged to Eva Brown his wife auction house believed Hitler received a reversible gold watch made by Andres Huber on April 20 1933 in his 44 birthday bears the letter a H. Bostec and a Nazi Wow a French soldier Napped the watch made for terms on when his allied unit reached Hitler's summer

house in Bavaria. According to a long-term observation, the watch and its history have been researched by some of the world's most experienced and respected watchmakers and military historians, all of whom have concluded that it's authentic and indeed belonged to Hitler. Procshon House. Well, consider that my real grandfather died in World War II fighting the Nazis. I wouldn't be the buyer for that watch, as you can imagine, right?

And considering what, I wouldn't buy a Stalin watch either. So for me, it's, again, there are people out there, believe it or not, a lot of the Nazi memorabilia that's being sold and traded today, I actually purchased by Jewish people. Did you know that? To get rid of them. Not to get rid of them,

to make sure the world doesn't forget. I'm Jewish, so I know. There's a lot of Jewish collector out there that collect Nazi memorabilia. Would you buy this? Would you buy this much? No. Why wouldn't you buy it?

To me, it's, I have, well, they're no longer with us, but I've had people in the family that had the tattoo on their hands. So to me, this gives me goose bumps just reading about it. I would completely against it, would not do it. I don't care how collectible it is, and I can see how people can say,

hey, it's super collectible. That's not a man that did a lot of good in this world. I agree. So. I agree. I lived in Germany for almost two years. And we went to, I lived in Erlangen, so we were a few minutes away from Nuremberg.

And we used to go there, history, just seeing all this stuff, the history of it. Yeah, it's tough. Did you ever read his book, Mike Comfort, no? No. Yeah, very, very weird guy on what he did. Rob, go to the Tyrese clip. This is the next one I'm gonna show you.

So here's Tyrese, okay? I don't know if you've seen this or not. It's a veryrese clip. This is the next one I'm going to show you. So here's Tyrese. Okay I don't know if you've seen this or not. It's a very interesting clip, but he's talking about You know the jewelry and the watches he has whether it's real or not and why go ahead Rob No You can't tell you know why it's not real Because I've lost so much of this shit. Mm-hmm. I a million dollars on the fuck of what I call Jacob the jeweler, nigga Call all of them all your most favorite popular Jewelers online and all got my black Centurion. You don't know what Centurion is?

That platinum card. That Centurion card, the black card. Yeah, they know what that Centur in here that thing goes through you know good I don't lose no sleep. Yeah over trying to win the popularity contest from showing up with all this jury that I'ma leave on a Nightstand and have a housekeeper to say I don't know. I'm sure you don't I agree with this point, but I am completely anti-fake stuff. If you are buying something fake for the purpose of flexing, and people give an excuse, oh, well, I travel to places where it's dangerous, and therefore I choose to wear

a fake watch, I just don't wear a watch. If you're gonna, the amount of time, effort, history, innovation, hard work, sweat, and tears that goes into these little marvelous things that we like to call watches is inmeasurable. I can talk to you about for 10 hours. If I go down to every single watch, we'll need another eight hours to talk about it.

I have respect for those that innovated over the last few hundred years. I have respect for those that created something that people thought was impossible to do. I just showed you a watch that has an animation on a screen that chimes out the time and there's no battery inside, right? The craftsman that put the diamonds into this Jacob watch,

the double-spherion watch that you see over there. What is that one? This is a Purnell double-spherion watch. May I? Yeah, please. It was done by a gentleman named Eric Coudray who is the second or simultaneously created what's called a 3D tourbillon

that spins across three axes, right? Because the original tourbillon was made for the Queen for her pocket watch because it was running slow so Breguet invented it to make the pocket watch run on time and that was only working if it was perpendicular to the ground this is 3D that's a 1.6 million dollar watch that's a 1.6 million dollar watch. It's also made entirely out of a piece of crystal so you know the crystal on top of your watch that entire watch is made out of that. Wow. The error rate on creating those crystals probably seven out of 10 fail.

You're literally cutting it out of a crystal, it's tough. But when I see somebody put on a fake watch, because they're doing it for one reason or one reason only, there's no doubt in my mind that this is flex and flex only. You're trying to impress somebody. And to me, that is like the worst thing you can do to a watch, at least for me. If you come in and you wear a fake watch, and I will know,

I will know from across the room, it happened to me, and an event, we did an event with the selling Orange County, the girls that sell real estate, we did a charity event with them, guy walks in with a Richard Mille, and he was probably 20 feet away when me and Adrian goes, oh, that's fake. He didn't even know, he got actually duped.

Oh, so he says. But fake away when me and Adrian goes, oh, that's fake. He didn't even know. He got actually duped. Oh, so he says. But fake watches and doing what he does, and you know what, don't wear anything. That's it. I just, I'm very anti-fake. It's interesting that billionaires don't have a big watch collection. Like, you know what I would be-

Oh, they do. They just don't show it and you don't know it. I have, so we did an event. It was a client appreciation event at the Aqualina in Sunny Isles here. And Kevin O'Leary actually showed up when he wasn't even invited. He's a big collector.

Somebody brought him. In that room we invited 150 of our top spenders. So in that room you had everybody's net worth, started with an M and there were six people in the room whose net worth started with a B and those guys have watches. You just don't know about it because they're not in the limelight in the likes of John Mayers

or Mark Wahlberg, et cetera, or Michael Jordan. Michael Jordan has a Purnell, by the way. Which one? This one. No, this is a piece unique, it's a one-off. So he has a similar, he has a red crystal. Really? And he paid for it, he wasn't given to him.

Michael Jordan's a huge collector. What's the most unique watch he's got? Or is that the one Purnell that are top right? Yep, that's it. That's the one. What's the most unique thing he's got? It's tough to say because there's really no information. I never sold him watches. I wish I did. I would love to sell the greatest

player of all time a watch, but I don't know. I know he's got a ton of watches. I know he's got a lot of air work. I know he's got two Purnells. And the stuff that you see online, it's not necessarily true. People find pictures, they see images. Well, that could have been an image taken if he tried something on. Does he own it?

I don't know. Makes sense. I don't know why. He gives me the vibes of somebody that's got a big watch collection. He has a huge watch collection. That I can tell you. Who have you sold watches to over the years? So I keep my client list fairly private. Anything that's public that people would know. I don't make it

public. So people want to know who you've sold it or... No, unless... So I'm not... There's guys in my industry we call them a clout chasers, right? Oh my god I sold Patrick Bette Davis a watch. Unless Patrick Bette Davis decides... Well you did it on your podcast. In fact you didn't even mention my name, you just said Roman on your podcast when you bought your wife a watch. You said, I bought it from a guy named Roman. That was the clip. I had a thousand people say, hey, Patrick Bed Davis just gave you a shout out.

They knew it was me. And you only mentioned- How many Roman? The Roman watch, people know Roman watches you. They figured it was me. But if tomorrow you decide, you know what, Roman, I'm gonna purchase this watch for you, I'm gonna make an Instagram post and I'm gonna tag you. Great. I will never ask you to do that. Well, let me tell you what, I like the way we've done business together. My experience has been superb with you and I said that at the beginning and I said that the best kind of sponsorships are the ones where you don't ask for it and the customer does it. And that's why I said everybody should go on Manecta and ask you questions before they make a purchase

for a watch. It's good to have access to somebody. I'm gonna be live as soon as I get back. I'm just finishing a couple things with you girls. They're gonna look at my setup. I'm probably gonna go live next week with it and again, I'm taking all the proceeds and they're all going to my charity.

Fantastic, respect to you. Roman, for me, if you wanna know what this customer is looking for okay Anything with history tied to my community Iran Shah Syrian Armenian pull up pull up automarpegate Cobra go to my website actually go to luxury bizarre calm shame is plug type in Cobra Just click the whole thing right here. Or just go to Audemars Piguet, it's fine. There we go.

So the Shah wore the watch, if you go third to the right, that's the watch that he wore. That's his? Not his. If it was his, it'd be a lot more money. What I'm saying to you is I want what was his. I want to know what he had. I'm interested in that. Okay. Because if you got something like that or we have four years to go till I'm 50. If we find out something, someone, that we can make something

that's gonna be unique to people that are important in my life. I can get that done in the next two weeks so don't worry about it. So that's gonna be unique to people that are important in my life. I can get that done in the next two weeks so don't worry about it. So that's the other one to be thinking about to be unique from a bigger name that we have. Okay so that's that part. And then the last one would be a one-off from you know Patek or somebody like that that we can make for the family. I would have a lot of interest in that, to put something there. So if we had to, well, I appreciate you giving Mission Impossible,

thank you so much for having me on the podcast and leaving me with Mission Impossible. You said you were very competitive, man. I said, let's do it, let's have a conversation together. We'll make it happen, for sure. Yeah, so those are the things that I'm interested in. To me, I don't have any fake watches. I'm not in the business of having fake watches to me

It's purely about passing it down to the kids. I've never sold a watch Never I've literally never bought a watch to sell the watch. Even when you and I were talking about the Grandmaster I would have bought that to one day giving my grandkids. I would have bought that to keep it in the family Children, so you put into the choir exactly how you feel. That's one of the most important things that led to me is my family That's the number one most important thing. I told you before for me. It's family. God country. I'm a simple guy That's what I believe in. I love it and you like nice sneakers. So you have good taste This was great, man. I really enjoyed it. It's good to finally meet you face to face. Absolutely. This was fantastic Appreciate you for coming out brother and guys all the links everything will be below. Take care. God bless. Bye. Bye. Thank you for coming out brother. And guys, all the links, everything will be below.

Take care, God bless, bye bye. Thank you guys. Guys I get a million DMs a day, you guys are asking me how do I get into the watch industry. Well I've been doing this for 22 years, I don't have time to answer a thousand DMs a day, I try my best. However, all those questions can be asked of me on Minect and all the proceeds from those will go to my charity.