We’ve finally made it! 2021 is in the books! It was a crazy year for the world and a crazy year for the watch industry. For most of us - it was another year of not getting “the call”, witnessing skyrocketing price increases for sport watches, and crazy auction results. Thankfully, we can take solace in the fact that watch memers are out there making light of the situation. They are the watch industry heroes that don’t wear capes. The ones that make the comedy through all the insanity. With that being said, here’s a meme dump of some of the 2021’s craziest watch related topics.
NO STOCK ANYWHERE
Nothing to Steal Rolex Boutique meme (Source: @watch.memes)
If you’ve been to a Rolex dealer in the last 12 months then you know how bad the situation is. Picture this- You wake up in a good mood and decide that you’re going to pay a visit to a Rolex dealer to try on a few watches. You walk into the AD dressed to impress and then BOOM! You’re immediately greeted by an angry sales rep standing over an empty Rolex case assuming you’re a flipper. Rolex tells us that the demand greatly surpasses the supply but whether the shortage is artificial or not is something we’ll probably never know.
Pic of empty Rolex showcase (source @watchuseek)
Getting on the Waitlist Meme (Source: @brodinkee)
Which brings us to our next topic- the “waitlist.” These days sport watches from some of the biggest brands are currently running on a waiting list. Anyone looking for a sport model Rolex, AP, or Patek is met with the usual response of “we’ll add you to the waitlist.” However, my favorite response is “We aren’t taking any more names on the list.” That’s just a roundabout way of saying that they want you to spend as much money as you can on things you don’t need or want just so that you can earn the chance to buy a sport model watch. People getting into the watch hobby in this climate are in for a rude awakening. Gone are the days of when you used to be able to walk into a Rolex dealer and try on or purchase anything other than a stainless Daytona.
Waiting for a 5711 meme (source: @watchtaster)
A good friend of mine once told me “Patek waitlists make the Rolex list look like a Mcdonalds drive-thru.” I’ve never been in the position to buy a Patek, but I’ve heard many stories of people waiting years and having to spend large amounts of money before getting the call for a 5711, 5712, etc. Patek needs to rewrite their tagline - You never actually own a Patek Philippe. You merely pass on your place in line to the next generation.
INSANITY AT THE AUCTION
Tiffany Patek meme (source: @brodinkee)
Probably the biggest news to hit this year was the release of the limited edition Tiffany stamped 5711 Nautilus. The news came as a surprise as Patek “discontinued” the 5711 in steel earlier this year. Watch enthusiasts felt that this was a bad move for the brand and the decision to leave one up for auction left a sour taste in everyone’s mouth. Days before the auction, grey market dealers were offering $2.5 million to anyone willing to sell one. The final price of the 5711 at auction was $5.5 million before fees. Say what you want to say about Patek - but they sure know how to keep people talking about their brand.
Oyster Perpetual meme (source: @yourauthorizeddealer)
Seems like a certain Rolex piece has caught the Tiffany bug. After the recent auction results, grey market dealers and collectors the world over increased the price on the turquoise dial OP41. The watch had a secondary market value around $16k prior to the 5711 auction but has since shot up as high as $35k for fully stickered sets. This is a good example of how the watch world can make no sense and how hype can really drive the market.
Things don’t seem to be getting any better for the watch industry any time soon, but at least we can look forward to the memes of 2022!
(WE DECIDED TO DROP ONE MORE FUNNY 👇)
(thank you @brodinkee for this little gem)