Billionaires and Millionaires Prefer Cheap Watches. Why Don't You?

Pools of gold, private aircraft, and supercars come to mind when we think of wealthy individuals. And that might happen occasionally! Do all billionaires, however, squander their money on opulence?

If Zuckerberg and Jobs have taught us anything, it's that this isn't always the case. The same may be said about the timepieces they select. But why is that?

Watches for Billionaires

As I tried to explain, some wealthy individuals choose to spend their money on enormous aircraft, crazy vehicles, Rolexes, and Patek Philippe. However, not all of them do.

Take a look at these three cases as an example.

• Bill Gates: Casio Duro, 40$ circa
• Chuck Feeney: Casio F-91W 30$ circa
• Barak Obama: Jorg Gray JG6500 200$ circa

Why do wealthy individuals like low-cost watches?

In general,

• They value function over clout.
• They understand the importance of value, yet they might have timepieces for different situations.
• They could believe cheap timepieces are stylish, hip?
• They do not believe it is the finest investment.

Function trumps clout.

Even if our phones can accomplish the same thing, the watch's primary function is to indicate the time.

Assuming that these successful individuals are not motivated by superficial qualities of things, we can also suppose that they may choose to wear a watch because watches are used to tell the time.

Doesn't that make sense? So, why invest $250,000 on a Richard Mille when the Seiko next door could do the same function flawlessly? And everything for $250.

Furthermore, the world of luxury timepieces is increasingly being pushed by hype and excessive inflation. Perhaps... smart investors prefer to spend their money on other assets (GameStop anyone?! ), but more on that later.

Rich individuals may be aware that materials and design are valuable, yet they choose to wear a less expensive watch on a regular basis.

Let's pretend that these people like watches. Assume they have Cartier, Rolex, and Audemars Piguet. Does this imply that they must wear them every day?

Why? To communicate what exactly? Maybe their ego is already fulfilled, and a good G-shock would be enough for the day.

Cheap watches are as awesome as f***!

Seiko, Casio, Timex, Swatch, and a slew of other brands all have one thing in common: they look great on the wrist and with any clothing.

Divers, digital watches, and dress watches are all available. They are all available in the inexpensive world. And believe me when I tell you that some of them are true works of art and design!

I'm not going to lie: nothing looks nicer a JLC moon phase, a Reverso, or a lovely Nomos. However, you may get a similar effect with less expensive timepieces. Feeling nice, well-dressed, and well-accessorized.

Watches are not a good investment.

As previously said, watches are not the best investment. Yes, some do hold their worth over time, and some even grow dramatically. However, this industry is mostly driven by excitement and fashion, and it may alter radically at any time.

Good investors are generally aware that you should not buy luxury timepieces as investments unless you truly love the watch and desire it for its inherent beauty, design, and emotional value.

Why not wear a watch at all, you ask?

Horological culture is extensive, and although some may be unconcerned with the technical inventiveness of watchmakers or the historical value of a specific model, others may identify with the concept of projecting a favourable image by wearing a piece of horological history on your wrist. Wearers of watches from various backgrounds exhibit considerably greater levels of conscientiousness and lower levels of extraversion and openness. They also come for appointments sooner. According to the available evidence, it is unclear if being conscientious causes a person to wear a watch or whether wearing a watch causes a person to be more conscientious.

Anyway...wear watches, they are cool. I think...