Good decision, as I do the same. But, seeing your profile you are from the UAE - assuming you don't live there? As, UAE should be one of the safest places in the world?
In the past, many of those watches would travel with me and i never had an issue keeping the rest at home. Nowadays, things changed. Travel is back and i dont feel comfortable taking any of them… and i cant keep at home when i am not there… so after 14 ye...
First of all, thanks for mentioning this difficult topic which is sometimes forgotten/unvoiced. I have a much more modest collection, follow however the same approach here - with both a safe at home for a couple of watches (~1 roll) and the others at the ...
Let’s not take away from that. I tend to agree with the bank thing as well. In addition, the insurance bill for some of these things alone is now getting crazy. Someone said it starts to take some of the fun away and I agree. But then I can’t stop either....
Dying for a watch makes no sense, not even resisting the assault, courage, impotence and frustration, but if you maintain the life of all this you also recover. ( my experience )
Yes, this move to bank safe is really essential...and like some said, banks only insured up to $1K USD or an embarrassing amount relative to this. You must check it occasionally and remain updated with your contact info, or they have the right to open it ...
As for now, I manage just by insuring. If one day, I feel this is not possible anymore with reasonable safety, I‘d struggle to keep my higher value pieces. Maybe I‘d slim down to my 5513 and VC Overseas, keep 1-2 high end pieces in the safe, and sell off ...
Sadly if I genuinely felt the UK was so unsafe that I could not wear the watches I own then I would likely not continue to own them (or move country! Ha) I’ve never felt uncomfortable in many big cities; I just try to keep them covered with a shirt/sweats...
Good decision, as I do the same. But, seeing your profile you are from the UAE - assuming you don't live there? As, UAE should be one of the safest places in the world?
It is the sad nature of the collecting world where asset prices have been going up due to macro economic factors such as inflation and wealth effect. As a collector, I am fortunate to own residences not only in one country but several as well. In addition...
I agree, this is an annoying time... Travel and having beautiful things doesn't mix well. Here's an article I published about safe deposit boxes. www.watchprosite.com
Assuming you live in the UAE where residential crime is relatively low, another alternative would be to keep a small portion of your collection at home in a high security safe. Something over 1 tonne and with an Underwriters Laboratory TL-30 rating (tool ...