Credits: Article and images by @ Quill & Pad. See the original article here - https://quillandpad.com/2024/06/02/living-beyond-your-means-as-a-collector-how-to-avoid-getting-hurt-2/
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Getting started without getting hurt
For the novice collector, there are really only a couple of rules.
![Getting started without getting hurt: the author’s Jaeger-LeCoultre Master Ultra Thin in stainless steel](https://wristnews.com/storage/2024/06/Nohurt_2.jpg)
![Getting started without getting hurt: the author’s Jaeger-LeCoultre Master Ultra Thin in stainless steel](https://wristnews.com/storage/2024/06/Nohurt_2.jpg)
Getting started without getting hurt: the author’s Jaeger-LeCoultre Master Ultra Thin in stainless steel
Only spend what you can afford to lose: When you’re starting out, you’re going to buy some watches that you love but that won’t hold value. Don’t stress about it!
Buy what you love and can afford; if you’re fortunate you’ll end up with some longterm keepers and if not you’ll have learned a lot about the world of watches, met some great people, and enjoyed an affordable hobby.
Expect to be illiquid: If and when you do decide to sell, either to move up or because your tastes have evolved, understand that the market for pre-owned pieces can move much more slowly than you might have thought.
If you think you might need that “watch money” for near-term financial requirements then it’s not watch money. And if you do sell, be prepared to wait out the market and deal with some tire-kickers before you ultimately transact.
![Not for beginners: the author’s Kari Voutilainen Masterpiece Chronograph II with bespoke dial and case](https://wristnews.com/storage/2024/06/Nohurt_2a.jpg)
![Not for beginners: the author’s Kari Voutilainen Masterpiece Chronograph II with bespoke dial and case](https://wristnews.com/storage/2024/06/Nohurt_2a.jpg)
Not for beginners: the author’s Kari Voutilainen Masterpiece Chronograph II with bespoke dial and case
Moving on up: pain avoidance for the intermediate collector
Perhaps the most important advice on collecting I have received came from my friend Terry, who years ago shared his portfolio view of watch collecting. In the “Terry taxonomy,” there are three classes of watches: “fun” pieces that one can enjoy without considering economic consequences, “investment” pieces that have established market values and can serve as the core of a well-curated collection, and “patronage” pieces, usually by independent watchmakers, that promote watchmaking’s creative arts.
![Patronage in action: the author’s Ludovic Ballouard Upside Down](https://wristnews.com/storage/2024/06/Nohurt_3.jpg)
![Patronage in action: the author’s Ludovic Ballouard Upside Down](https://wristnews.com/storage/2024/06/Nohurt_3.jpg)
Patronage in action: the author’s Ludovic Ballouard Upside Down
Manage your portfolio: Decide how much “fun” money you have and how much you are willing to devote to patronage and keep the rest aside for mainstream, classic pieces (more about those below). From time to time as you sell and buy, do a quick check of your portfolio balance to make sure that you aren’t biased too heavily toward fun or patronage for your comfort.
Sell to buy: Trust me, it’s sad to sell! At certain points, however, it makes no sense to pour more money into a single, illiquid class of assets like watches. Setting a firm “sell to buy” rule can help. It also helps to build curation skills: if you don’t like that new piece better than any of your existing ones, is it really worth having?
![Had to sell to buy: the author’s Greubel Forsey Invention Piece 1](https://wristnews.com/storage/2024/06/Nohurt_4.jpg)
![Had to sell to buy: the author’s Greubel Forsey Invention Piece 1](https://wristnews.com/storage/2024/06/Nohurt_4.jpg)
Had to sell to buy: the author’s Greubel Forsey Invention Piece 1
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Credits: Article and images by @ Quill & Pad. See the original article here - https://quillandpad.com/2024/06/02/living-beyond-your-means-as-a-collector-how-to-avoid-getting-hurt-2/