Horological Society of New York - March Meeting Summary

General Information

• Host: John T. Furred, Vice President
• Location: Horological Society of New York
• Sponsors:
  • Mussina Lab
  • Christie's Auctions
• Attendance: Largest crowd in 50 years

Education Update

• Evening classes available in March
• Weekend Class on March 23, April 6-7 in Silicon Valley
  • Host: Steven Silver Fine Jewelry
• April 13-14 Class in Houston
  • Host: Chopard

Henry B. Fried Scholarship

• Established recently
• 22 applications received in 2019
• Multiple $10,000 scholarships awarded at the Gala and Charity Auction on April 17th

Gala and Charity Auction

• Date: April 17th
• Features:
  • Premium open bar
  • Table service
  • Limited tables available
  • Accepting donations for fundraising auction
• Auction Highlights:
  • Afternoon with a master watchmaker donated by A. Lange & Söhne
  • Dinner with Hodinkee editors
  • All-expense-paid horological trip to Switzerland by WatchAnista
  • Private watchmaking class with François-Paul Journe

Lecture: Collecting Vintage Watches by Eric Wind

• About Eric Wind: Former Christie’s auctioneer
• Topic Highlights:
  • Importance of preserving culture through watches
  • Factors making a vintage watch valuable
    • Quality, Complications, Condition, Scarcity
    • Style, Provenance
  • Financial considerations in vintage watch collecting
  • Market trends and mistakes collectors make

Key Points on Collecting

• Passion vs. Value:
  • Balance between emotional and financial investment
• Focus on Condition:
  • Condition trumps rarity
  • Avoid focus on birth year watches as primary criterion
• Instagram Influence:
  • Positive and negative effects on watch collecting
  • Rise of common collecting models

Market Dynamics

• Auction Trends:
  • Originality, Provenance, and Freshness
  • Auction as a transparent selling method
• Watch Auctions:
  • Small portion of the overall market
  • Consignment process and fees
• Restoration and Originality:
  • Discourse on what constitutes an 'honest' watch
  • Impact of restoration and aftermarket parts

Watchmaking and Preservation

• Service and Maintenance:
  • Importance of servicing and preserving original parts
• Challenges:
  • Finding skilled watchmakers
  • Threats of market distortions due to financial speculation

Closing Remarks and Q&A

• Audience Participation:
  • Focus on first-time attendees
  • Advice on starting a collection
• Next Meeting:
  • Annual Gala on April 17th at Manhattan Penthouse

Key Takeaways

• Engage with reputable sellers and communities
• Educate yourself on watch history and market trends
• Consider both financial and emotional aspects of collecting

This summary captures the essence of the March Horological Society of New York meeting, emphasizing education, collecting practices, and market insights shared by Eric Wind.