Kelly Yoch, Director of Client Relations, Watches of Switzerland, USA
February 1, 2021
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For the Horological Society of New York (HSNY) February 2021 lecture, Kelly Yoch, Director of Client Relations for Watches of Switzerland, presented a fascinating topic of collecting for passion — not investment, based on what she has observed amongst watch collectors throughout her career in the watch industry.
To get a historical context, Yoch began the lecture with three watch collectors that are well known to watch enthusiasts and the watch industry: Henry Ford, who ‘tinkered’ with watches and pocket watches as a hobby; and the timepiece competitiveness between James Ward Packard and Henry Graves, Jr.. One can surmise that these individuals exemplified a period when collectors actually collected for passion.
Based on the following timeline, Yoch classified watches that were representative of the period they were produced:
1970s: Royal Oak, Nautilus, Hamilton, Pulsar
1980s: Swatch, Rolex Gold President, Omega Constellation, Cartier’s Pacha and Santos, Piaget
1990s: Rolex Submariner and Daytona, TAG Heuer link bracelet, Omega and the James Bond franchise, Franck Muller Master Banker
2000s: Panerai, Hublot’s Big Bang, Chanel J12
2010s: Patek Philippe Tiffany-stamped pieces
2020: Blue dial, steel bracelet — different watch brands are looking the same with their design
During the 70s, the Quartz Crisis was a major disruption for the watch industry. In order to remain relevant and to gain (and retain) an audience, brands had to turn to quartz movements. The 80s was the extravagant era where gold watches (and more specifically gold Rolexes) were the must-have items to possess. The timepiece created to display one-upmanship was the Franck Muller Master Banker in the 90s. If an individual was wearing a Master Banker piece, it was because that person was a banker (not pretending to be a banker).
Collecting started to change in the 2000s by the obsession of Hublot’s Big Bang and where Yoch observed that everyone wanted the same thing. However, platforms such as HODINKEE, HSNY, and RedBar gatherings brought individuals back to the passion mindset and that watches are an art form. The following decade (2010s) saw celebrity endorsements and brand sponsorship at high-profile events such as the Oscars. Finally, 2020 saw astronomical auction sales and an increase in online commerce due to the COVID-19 pandemic.
Two other influences that cannot be ignored are the internet and Instagram. Both entities displayed timepieces to people who started to see things they could not have. As such, retailers and trade shows were forced to re-think how to provide personalized service for their clients. Yoch concluded by saying that she believes watch collecting is where you want it to be, not where everyone else wants it to be. Timepieces tell time, but they also invoke passion.
HSNY thanks Kelly Yoch for her fascinating lecture!
Submitted by Melody Benloss, Recording Secretary & Associate Librarian