Each Watch Tells a Story
Part I
By Su JiaXian
© February 2008
Rarely does one come across a watch collection as remarkable as the one that follows. Ranging from a Patek Philippe Grande Sonnerie pocket watch to a Citizen Eco-Drive “grande complication”, this group of timepieces is quite simply astounding.
The owner is an unpretentious and sincere gentleman whose taste, coupled with his knowledge, has resulted in this amazing range of watches. He has kindly agreed to speak to the PuristSPro and shares his thoughts on collecting, auctions and even the famous Patek Philippe boutique in Geneva.
This interview took place in December 2007 in the Singapore offices of the anonymous collector. All photos are courtesy of the anonymous interviewee.
SJX : Tell us a bit about your collecting philosophy.
ANON : Well, one of the nice things about watches is each watch you collect has the story behind it. Each has its own story and whenever I pick it up I remember the story. Getting the watch is the final part, but the journey to get it, that’s actually the most fun. When you’re sitting and waiting for it to arrive, you’re anxious, you did the research, that’s very exciting.
SJX : I’m sure many will agree, it’s the search that is often the most fun.
ANON : Yes. It’s also good to limit yourself, in all things, not only watches; if you can get things too easily, too quickly, the value is not there. So even if you can, sometimes you shouldn’t buy something. If you can stretch it out, postpone it, that makes it more enjoyable.
SJX : You own a sizeable collection yet you travel very frequently. How do you manage to wear all your watches?
ANON : I travel a lot, and often for long periods, so I usually take 2 or 3 watches with me. I made a rule that I don’t wear a watch for more than a week.
SJX : You have to wear the other watches; you can’t neglect them. (laughs)
ANON : Exactly! They’re like little children. (laughs) So the fun thing is that when I travel, I take 3 or 4 watches with me and I can wear one watch a week. Then when I get back home, you get excited about all the others because you haven’t seen them in a long time; it’s almost like every time you go back you’re getting a new watch! So that’s a benefit of travelling.

Patek Philippe Ref. 5101 10-Days Tourbillon
SJX : I heard you recently picked up a watch that for many is the Holy Grail, the Patek ref. 5101 10-day tourbillon, during one of your trips to Singapore.
ANON : Yes, I bought it with this [Urwerk 201 Blackshark] right after Tempus.

Urwerk 201 "Blackshark"
SJX : It took you a long time to get the 5101, didn’t it?
ANON : Ah, the story of the 5101. It started back in 2004 when I first had the opportunity to buy it. Back then I said, ‘No way would I spend that much money on a watch!’ (laughs)

Ref. 5101 profile
Then in 2005 or 2006, I had another opportunity here in Singapore. [The salesman] showed it to me and I really liked it. How much is it now? The price has gone up since 2004, by 20% or so. Again I said ‘no way!’, since I could have gotten it cheaper in 2004.
Finally this year, the shop said we’re getting a 5101, are you interested? I said OK, I’ll take a look first. I went, I took a look and finally I had to take it. I already liked the watch the first time I saw it; this is the third time and you know what? No choice. And I ended up paying even more than I would have in 2004 or 2005! (laughs)
But it taught me something, and I’m sure everybody will tell you - never say you’ll never pay a certain price for a watch - that becomes infinitely flexible.

Ref. 5101 display back
SJX : So how did you get from saying ‘No way!’ to buying both the 5101 and the Urwerk 201?
ANON : Well, when I was a kid my father [wore] Casios all the time. You know the ones with all the gadgets and stuff? I like gadgets so I used to have those.
Then I went to college and I had a watch that was connected to the atomic clock. It was really cool but then the strap fell off, so then I would keep the watch in my pocket. Then my friend bought me a real pocket watch for my birthday; one of those quartz pocket watches. I never really wanted [a watch] on the wrist. Then I graduated and J (a close family friend) got me this one [mid-size Nautilus], but even then I was not really interested in the whole watch thing yet.

Patek Philippe Nautilus
So then there was a wedding of his niece-in-law, where I met T, J’s brother-in-law. As we talked I looked at his wrist and asked, ‘What watch are you wearing’? Turns out it was wearing the Patek 5110, the world time. He explained the functions to me and I said to myself - this is better than a digital watch! With digital watches, you have to press many buttons [to] many times to switch to a different time zone - you can calculate faster in your head! But this Patek, you just look at it and there’s only one button.
I said I would like to get one, so he called up a dealer and they had one left. I went to the shop the next day and took a look. What’s it going to cost? After discounts, about sixteen [thousand] US [dollars].
What? (laughs) I’ve never spent so much in my life! In college I barely spent a couple of thousand a semester and here it’s a sixteen thousand dollar watch? But you know what, it’s a great watch and it’s going to be perfect for travelling, so I bought it.
It was all downhill from there. After that I started doing some research into all this. That’s when I heard about the perpetual calendar. I thought to myself, that’s a great concept. You wear the watch and you don’t need to ever change it till 2100. At which point it makes you wonder what’s going to happen in 2100! (laughs)
Anyway, that was in 2002. Most of the first watches I had were Pateks. I looked through the Patek catalogue and I liked the 5040 [tonneau-cased perpetual]. We had checked all the big dealers - everywhere - nobody had it. Finding it was completely random, one day we were walking and found this [small shop] had one! I got that for about thirty [thousand] US [dollars], after discounts.
SJX : At today’s prices that’s a bargain!
ANON : That’s a steal. But back then, it was 30 thousand dollars on a watch! I thought that’s ridiculous - how can you spend so much money? The slippery slope.
SJX : Did your pace of buying pick up as you grew more interested in watches?
ANON : I have two years which were big years for watches, this year [2007] and 2004. You know what they say about opportunity? Well in 2004 it was like that, opportunity after opportunity after opportunity.
J went up to Geneva for some work and I got a call from him. ‘They have a 5050!’ After discounts it was forty-two thousand dollars. I thought, ‘That’s a lot of money for a watch!’ I was not sure, but I thought I’ll buy it and keep it as an “investment”.
At that time, they also had the 5101 [tourbillon]. What’s the price? Two hundred thousand francs, or something like that. What! Who would pay six figures for a watch! No way! Forget it man. I could cure cancer with that! (laughs)

Audemars Piguet Star Wheel "Two Faces"

The other face
So the 5101 disappeared but I got the 5050. That year I also got the IWC perpetual and also a Starwheel pocket watch [by Audemars Piguet] - all of these opportunities. So I ended up buying a good amount of watches in 2004. 2005 for me was very slow, I bought only one watch because I didn’t want to spend any more money. I told myself, ‘That’s it; I’ve got all of them’.
2004 was also when I first went to the auctions, that’s where I got the 3979 [minute repeater] and the Patek pocket watch.

From left: Patek Philippe Grande Sonnerie, Audemars Piguet Star Wheel Two Faces, Patek Philippe Triple Complication
SJX : The grande sonnerie pocket watch?
ANON : No, that one was this year. That one [in 2004] was a perpetual, split-seconds chronograph with minute repeater.
In 2004 that’s when I actually first heard the minute repeaters, and since then I’ve heard a lot of them. Some say it’s just the Patek brand, but with the minute repeaters, I can really tell the difference.
SJX : Let’s pause at the minute repeaters for a while. Which is your favourite? Of those you own.
ANON : I have three, the 3979, the pocket watch from 1926 and the grande sonnerie [pocket watch]. The 3979 is really musical; it’s just a small watch but it sounds so loud.


Patek Philippe Grande Sonnerie
I went to Basel when Jaeger first came out with the big repeater [Master Minute Repeater]. So I went to take a look and I was wearing the 3979. They came and they wanted to show [the Master Minute Repeater] to us.
I was trying to be polite, but J said to compare it to my Patek, let them listen. That thing was huge but this little thing [the 3979] sounded about the same [in volume], and it sounded so much better.
The other ones [the pocket watches], they sound louder and deeper, but you hear a bit of the buzzing. The grande sonnerie sounds very good, but it probably needs to be serviced. It’s from 1914; it went to the Geneva observatory and won second place and all of that. When I went to Geneva, Patek said it’ll probably take about 3 years for them to do it.

It might need servicing but it's still extraordinary
The issue is that when I first got the 3979, I sent it in to get repaired. You know how it is - it took a while. I also learned from that experience that if you send in a Patek Philippe, especially a complicated one that cannot be done here [in Singapore], it is cheaper for you to actually fly to Geneva and give it to them there, rather than pay a huge sum here [for the local distributer to do it]. It took almost a year for Patek to do it and I could have bought a watch with that amount. But when it came back it sounded so much better!
SJX : In the end, it was worth it.
ANON : Definitely.
SJX : As a connoisseur of repeaters, what do you think of the Vacheron repeaters? Many regard it as being the closest, if distant, rival to Patek.
ANON : Well from what I remember, Vacheron and Patek were both considered equal many years ago. I’ve heard one of those a while back when I was in Geneva. This was a couple of years ago, maybe in ’04. One of the stores did have a minute repeater and they did bring it out and they did let me listen to it. It was… OK.
Hundred years ago Vacheron and Patek were on par. When you go to the auction, the prices are similar, for Vacherons from a hundred years ago.
SJX : Correct, the quality was very good. Most agree the decline started in the late ‘70s or early ‘80s during the quartz crisis when Vacheron was acquired by a Mid-East investor.
ANON : I can imagine.
SJX : They fell behind during that period, but since Richemont took over they are focusing again on high complications.
ANON : I hope they start making a recovery. Then actually it’ll be a good deal. That [the brand image] will come with time, to equal Patek.
SJX : Are you searching for another repeater?
ANON : The watches that I collect, I like to collect for a particular reason. I didn’t have an annual calendar, so I found one I liked and I got it (points to the 5396).
Now I hope - I hope - I will be a lot more selective. So unless I have an opportunity to upgrade, I am not going to go actively searching for something else.

Patek Philippe triple complication pocket watch; perpetual calendar, rattrapante chronograph and minute repeater
Copyright February 2008 - Su JiaXian & PuristSPro.com - all rights reserved
PuristSPro Homepage | ThePuristS Homepage
Comments, suggestions, and corrections to this article are welcome.
Each Watch Tells a Story
Part II
By Su JiaXian
© February 2008

Patek Philippe Ref. 3979 Minute Repeater
SJX : I hear trying to buy Pateks can sometimes be difficult…
ANON : Getting Patek to let you listen to watches is even more difficult than… I’ll tell you the story of when we went to Geneva [to the Patek boutique].
First, to get inside, the security is almost like a bank. You press a button, the doors open. You go in, the doors close, you wait and they look at you. We were wearing pretty respectable stuff you know so they let us in.
The moment you step in, someone comes and stops right in front of you, and asks ‘Can I help you?’
J told her we wanted to see some watches. She says, ‘Can you give me the list? I will see if they are available.’
I said I have some watches I want to repair as well. ‘Ah OK, follow us.’ They had this guy, like a bodyguard, walking with us, taking us upstairs. I had with me the 3979, the pocket watch repeater and the grande sonnerie; I asked them to check my watches. How much is it to repair? Do they need maintenance?
I also had some watches I’m interested in. The guy who was assigned to us, he just started two months ago so he was new. I gave him the list [of watches I wanted], it was a bunch of complications.
I didn’t expect to get any of them on the spot, to be able to buy you know, but I remember reading one of the articles where they said with the new boutique you can actually see the watches. I thought when they said see it they would bring one out so you can take a look, not just look at it through the glass you know. They have all the watches on display, even the grande complications, everything.
So [the salesperson] looks at the list and out of all the watches on it, only one was available, this one [the 5396 annual calendar]. Well, I expected that, you can’t just walk into Patek and buy the 5004 when they don’t know who you are right?
So I asked, ‘Can I be put on your waiting list?’
‘No, we are sorry, the waiting list is closed.’
You can’t get on the waiting list. Fine, if the demand gets to a point where you have clients for the next 15 years, tell me it will take 15 years to get it. But saying it’s closed makes it sound like an exclusive nightclub.
Can I at least see the watches? And he says we can’t show you the watches. So I said OK, I’ll take this one [the 5396]. So I went down, purchased it. After we got it, we talked with the guy and he said the biggest problem for him was that they are commission-based so they have to sell watches. But they can’t. At least in his old employer [a big retailer], they might have some rare watches hidden away somewhere to be given to special clients. But here [at Patek], he said he’d have people come in with cash but they had to say ‘Sorry, we can’t sell you’. So it’s difficult for him.
I understand the production [constraints], but this is a bit extreme. So after I bought the annual calendar, the guy said he’ll bring out one of the minute repeaters. We went back upstairs but there were some people there so we had to wait five minutes because he wanted to wait till everybody leaves. So the moment everybody left, they went to get out the repeater… you remember at Basel they had this really ugly looking minute repeater with perpetual calendar?
SJX : Skeleton?
ANON : Yes! Nasty one, that one. So they brought that one out and by that time they have brought back out my repeaters. So I listened to mine and that one. From my understanding, the more complications you put in, the more you disrupt the sound, and it won’t be as good. That’s why I went for the 3979, because it’s just a repeater. This one is a perpetual plus repeater, but it sounded still very, very good. And even when there was an auction and I listened to the 5016 with three complications, it sounded still very good. Whatever you say, [Patek’s] repeaters sound great.

Ref. 3979 Display Back
At that point I talked to the technician and asked him about my grande sonnerie. He said it could do with some work. He added ‘Are you going to use it daily?’ Probably not, I’ll just listen to it once in a while. He said it’s going to take three years and quite a bit of money, so unless I am going to use it every day, might be better to hold on to it.
It gave me a very poor impression, to be honest. They make great watches, but they come across like, how should I put it…
SJX : Like they don’t need your patronage?
ANON : Yes, exactly. Especially today when society is very customer oriented. I’ve worked in organisations which act like customers are working for them rather than the other way round. That’s bad. That’s a bad sign.
After that experience I was a bit put off by Patek. If this is the attitude of the people there, it’s not a good sign. Of course the perception has changed a bit since I met Thierry [Stern] at a dinner and we had time to talk.
I’ve experienced what it is to be like in an organisation that is family-run for generations. The worse thing to happen is someone who would come in and doesn’t want to be in the business but because of the family he’s doing it. Then they end up doing it not very well. So at least by meeting Thierry, I can tell he is very passionate about it, he likes what he’s doing.
I am very confident they are going to have a good future, if they can solve this issue [with supply]. That why I ended up getting the 5101. [Thierry] is very humble, very approachable. He’s a certain way and the people that we met at the boutique were very different. There is a polite way to tell people that we can’t help.

A humble Patek
SJX : So that’s one reason why you got the 5101 at Tempus.
ANON : I got the 5101 at Tempus and by the way, I’ll tell you one more story. The 5101 is probably one of the most comfortable watches I’ve ever owned. I don’t know why, could be my wrist. I didn’t expect it to be but again, I wore it for a week with no problem, even forgetting it’s on my arm. To the point where one day I went swimming, I jumped into the pool and the first thing I did was to check my wrist. Thank god I took it off before I went in. The watch is so comfortable that I almost jumped into the pool with it!
SJX : Then you should buy a rubber strap for it! (laughs) You already have what you want, more or less. What’s else has caught your eye?
ANON : Right now I’m trying not to look. (laughs) I have gotten the majority of what I want, I have an annual [calendar], a perpetual, a minute repeater, split-second, you know. The shape of my collection is getting to where I want so I don’t feel that I need to constantly look at what’s going on.
This year, I ended up buying a good amount of watches. Like with 2004, the opportunities to get so many good watches so I am hoping that maybe in the next year or so, I might get one here and there. Very selective. It has not gotten to a point where I want a specific one. For example the Nautilus chrono, I’d be interested in seeing that, seeing how it works. This is Patek’s in-house, first automatic chrono, you know all of that, so that would be interesting to see. But authorised distributors are selling it at a premium! Which is very strange.
SJX : Indeed. Many collectors are put off by the premium being charged for many popular watches.
ANON : Yes, yes, it’s getting to that. What’s going on? It’s getting to the point… I can’t believe people are paying it. What happened to the days where people would laugh if you have to pay list [price]? The 5040, I paid 30,000 for that and now I’m happy. Now people are willing to pay premium?
With things like that, I’m going to try, try, to avoid the auction scene. You want a good business? That’s probably the best business. They take 20% from the buyer, 10% from the seller. Plus the display fees are not included. You have to pay the production fees, plus the buyer pays within a week or something like that but the seller gets the money a month after that. So they have a float for a month for the whole amount. You want a good business? That’s a good business to be in.
SJX : So far we have mostly talked about your conservative and classic high complications like the Patek repeater. But you also have several avante garde watches. What can you say about those?
ANON : Well, you saw I have the Antiqua. For me, I like the function first. Of course it should look nice, but if it’s a function I really like I might get it. Like with the Antiqua, I love the concept… and the rotor, you know?

Far right: Vianney Halter Antiqua
SJX : The invisible rotor…
ANON : The look is a bit interesting, it’s unique. The platinum one is the one I like. The only thing I worry about is I think it’s a bit delicate, more so than normal. I had to send it in twice when the date got stuck. It’s bit annoying when you just get the watch which you’ve been waiting a long time for and then you have to send it right back.

Far right: Antiqua with "mystery" rotor
Even happened with my Patek, the world time. You know the button you press for the world time? I pressed it, and the button flew off. (laughs) I am not very delicate with my watches, I wear because I enjoy it. But it’s a bit strange when right after you buy it you have these bugs.
SJX : You bear these burdens for a good cause!
ANON : I want to share another story with you. I got the 5050, which I got it as an investment. I shifted from buying watches as an investment to buying watches to wear and enjoy because of what happened with the 5050.
I got the watch and then I decided one day I wanted to wear it to the office. I was staying at a nearby hotel, so I decided to walk. I put it on and went outside. It was a bit humid and I didn’t want to sweat on the band so I took it off, wanting to put in my pocket.
The watch came tumbling down - bang! On the pavement! I pick it up, thankfully it was only the glass, all cracked but it wasn’t shattered. Fortunately the repair centre was not too far away. Now they know me very well, by the way, because I am constantly sending stuff in to get fixed.
You know when you get a car, a brand new car, you don’t want to scratch it, don’t want anything? The moment you scratch it…
SJX : You don’t care any more! (laughs)
ANON : Doesn’t matter anymore! The thing can collapse and it’s OK. That’s when my ideological shift happened. If I want good value for money, I have my investments [at the office] - I’m not going to buy a watch. It’s nice to see something I bought for 30,000 going for 80,000 now; I’m not going to sell it but it has a “feel good” factor. But at the same time if it’s gone down to 20,000 or only 10,000, I’m not going to get pissed off.
SJX : You can still enjoy it.
ANON : Exactly. Like this one [the Urwerk 201 Black Shark], it definitely is overpriced. In normal conditions I would not have paid as much for this watch. Never. It’s ridiculous.
I know I paid more than I should have. But I really like the watch. This is one of those things you can say [is] an emotional decision; I really, really like the watch and I definitely wanted to get one.
SJX : I think it is an amazing watch, significant, but it is very expensive.
ANON : But this is showing the markets. Prices are going too high. If [Felix Baumgartner] is asking these prices and he can get these prices, you know it’s a bit much.
One of the reasons why I don’t want to buy new watches right now is because the market is so high. Eventually things will change. It’s always very cyclical. So I am willing to wait, to be patient.
SJX : Most of your collection is high-end, but you also have the Citizen minute repeater and the Ball Watch. Which is your favourite from your affordable watches?
ANON : The difficulty I have is that with all of the watches, I don’t have a favourite brand. The Citizen one I have is a lot of fun, I really like it; the deployment buckle is really painful though, it really digs in.

Grande Complication with an uncomfortable buckle
I also have a Sea-Dweller, my only Rolex; that’s supposed to be indestructible. If you want something that will still be working when you’re dead at the bottom of the ocean - this is it.
The Ball Watch I have is OK too, but looks good only at night to be honest.

Ball Watch chronograph
SJX : I understand you’re building a “watch room” back home. Can you tell us more?
ANON : It would be nice if you could have the watches in a room. At least you can let them breathe instead of have them hiding in a corner. And then you can sit and admire a couple of pieces.
SJX : So it’s not just a storage room?
ANON : No, no, I will put in some displays; it’s for other collectible things also. It will have a secure door and everything so you don’t have to worry about leaving stuff on the table. Then you invite friends in, you can sit down, enjoy the watches, without having to worry. For me as a collector, the worse thing is the fact that I have to keep them in a safe, locked up. It would be nice to have them, put them on display and have easier access. That’s why I’m building the watch room.
SJX : I look forward to visiting your watch room when it’s ready. Thank you for your time and sharing your remarkable collection with PuristSPro.com om.

Click here to return to Part I .
Copyright February 2008 - Su JiaXian & PuristSPro.com - all rights reserved
PuristSPro Homepage | ThePuristS Homepage
Comments, suggestions, and corrections to this article are welcome.
resulted in such a state of affairs . Zero chance of getting any sort after models unless u pay a hefty premium . It is disturbing and frustrating for enthusiasts who covert for the pieces but always available with grey dealers @ ridiculous pxs .
Thanks for the great post SJX ! Its always nice to read other collectors' experiences and what a Collection !
George
to get a particularly rare watch from Patek...much like ancient Chinese scene where a pupil needed to be down on his knees to be accepted by his would be master/sifu! Disturbing indeed...hehehe
Anyway, GREAT post JiaXian! Thanks so much!!!
hidden to such a degree as he obviously has his watches and other collectables well secured. he may of course be a member with secret identity. very few members actually know anything about the others or where they live. he's probably more at risk when wearing one of his superb pieces.
i loved his comment on not having a favourite brand when he has a case full of PP's and just a couple of other brands
the PP attitude is very sad and is one other reason why i wont buy one. the first is easy. i cant afford one, the second is the feeling of being judged before being even allowed into the store. perhaps its just me, but i had the same problem at a Range Rover dealership and would never cross their threshold again.
nice one SJX, a lot of time and effort went into your interview and you should be rightly proud of it.
Graham
"the PP attitude is very sad and is one other reason why i wont buy one. the first is easy. i cant afford one, the second is the feeling of being judged before being even allowed into the store. perhaps its just me, but i had the same problem at a Range Rover dealership and would never cross their threshold again"...

What a wonderful interview. I was looking forward to this interview for a very long time, thank you for finally bringing it to us. The attitude of some of these sales people are very snotty and unfortunately does not represent the establishments' prime directive. PP are not the only business that is plagued by this lack of serviceness, unfortunately I myself have witness and work along side those that believe they are better than the patron that they serve.
Mr. Anon, truely a wonderful collection and I hope it continue to expand in a positive direction and I also hope that you enjoy all your collection in good health. May your identity be sealed and safe as long as you wish for it to be, and once again thank you for sharing such a wonderful collection to us less unfortunate.
Great job SJX!!!!! Thank You..
buying watch as investment!!! Tx again!
That one of the purposes of this forum, to provide opposing views. Wonderful photos by the way.
- SJX
Tony,
It's great that you had a good time and were mistaken for some collector whale
Mere mortals have to suffer being treated as chimpanzees......
Thankis for sharing the photos.
Regards,
MTF
I really enjoy reading this thread.
Cheers
Please tender our thanks that he shared his collection and thoughts.
Thanks SJX for teasing it out of him and writing it down.
Regards,
MTF
It's nice to hear that the collector wears his timepieces instead of keeping them sealed in plastic bags.