TimeCaptain bought his grail piece, a Panerai Luminor PAM00540, from Bobby Moscovitch

In today’s edition of Q&A With Watch Collectors, we’re chatting with Bobby Moscovitch. Bobby is the man behind Canadian Watch Collector and he is somewhat of a legend in Paneristi circles. Bobby is one of the, if not THE, top names in pre-owned (and sometimes new) high end timepieces in Canada. I’ve known Bobby for a little while and he certainly understands the rationale (or lack of) of guys like me when it comes to Panerai! Let’s see what Bobby has to say about the current state of affairs of timepieces in Canada…

Bobby, first of all, would you consider yourself a watch collector?

Yes, but not by classical definition like I am in my other hobbies. With watches, it is more like collecting “experiences”, as I am always looking towards my next acquisition.

In the last 10 years or so, interest in mechanical timepieces has surged and guys like me have gone nuts over this stuff. How are you enjoying this phenomenon and do you see the bubble bursting?

It couldn’t have happened at a better time for me. While I started “collecting” about 15 years ago, my interest in luxury mechanical watches began about 10 years ago, and I had the opportunity to buy, sell and trade on the forums to my heart’s content. The craziness on the forums stopped about 5 years ago (post US recession), and now the activity has matured somewhat. In one sense, the bubble has burst, as the luxury used watch marketplace has calmed down quite a bit. There are still lots of players, but the ones that remain are stable, and likely not banging out their credit cards to stay in the game. Where it hasn’t yet burst is at the retail level, although the high end manufacturer’s keep raising the barriers of entry. It is hard to imagine that twice a year 5% or greater retail price increases won’t someday hit a wall. I believe it already has for some brands.

We often feel forgotten in Canada when it comes to our luxury goods market. How do you see the high end timepiece market in Canada?

When it comes to forum trading, the Canadian market for luxury watches is quite small. The forum buyer is a frugal buyer. However, there is still a large market at retail for high-end watches. No shortage of professionals and businessmen indulging themselves with their platinum credit cards. Nothing makes me happier than converting those buyers to the “trade-in” principal, so that they can indulge themselves more often without having to relegate their last purchase to their sock drawers… So, to answer your question, I still see it as strong, although not quite as obviously strong as our neighbors to the South.

Canadians typically pay more for everything! Are Canadian watch buyers getting ripped off?

Yes. Without a doubt. There is still far too much unnecessary discrepancy in retail prices between Canada and the US. Unlike many industries, the watch industry did eventually balance the prices in Canada when our dollar went to parity with the US dollar, but they are all reversing that course now that the Canadian dollar has begun to lag again. What hasn’t been taken into account, as it has been done in the European Community, is the tax factor. We are almost as heavily taxed as the Europeans, yet their (aligned) msrps’ include the value added tax!

Is there a ‘watch capital’ in Canada?

Toronto and the Greater Toronto Area seem to have the most retailers of new and used watches, and probably the greatest percentage of luxury goods buyers. But the internet is the great equalizer! The rise of forums like Canadian Watch Collector has led to traders finding trustable trading partners from Newfoundland to British Columbia. And FedEx delivers overnight to every corner of this country, so it almost does not matter where you buy from anymore, you can still have your purchase the next day! CWC should be the “watch capital” of Canada!

How would you rate the passion of Canadian watch collectors?

I am amazed how often I meet people and discover that they are watch lovers. Everywhere I go I find people to “talk shop” with. I would have to say that while we may have lagged behind our American counterparts in embracing the hobby, we have more than made up for that with enthusiasm!

If you’re a young guy with your first fat bonus cheque and you want a cool piece to impress coworkers and clients, which models should you consider?

It depends how big that bonus cheque, and what your co-workers are already wearing. The most obvious response would be Breitling, Rolex, Panerai…. It never seems to amaze me how many guys dream of owning their first Rolex Submariner, and how proud they are to show it once it has arrived!

Bobby – I know you’re quite passionate about timepieces. How would you describe your infatuation with them?

LUST! No better word. I am not a “movement” guy, although I do appreciate the differences from one to the other, I don’t feel any special need to see them. The case and the dial get me. I just have to have it, so lust, not love.

Which brand have you never owned, but would like to own?

Richard Mille and Urwerk come to mind. They are staggeringly creative and definitely lustworthy!

You often supply men with their grail pieces, do YOU have a grail piece?

I have been lucky to have hit the grail so many times during my collecting years. There is no single watch now that I am searching for. There are still a few from my Omega days, such as the Japan market red dialed Aqua Terra, or the Polaris Titane Automatic Chronograph. Apart from that, I think I would like to own every single Panerai made at least once! As a brand they do it for me like no other.

Can you comment on the popularity and growth of CWC?

It has been very slow and very sure. The site is 4 years old now, and it has matured well, I believe. It is a tight knit community with lots of trading activity going on. What it doesn’t have is a daily supply of scam stories that we read about on the other forums. I have made a lot of friends through CWC, and I know that many of the daily users have done so as well. I am proud of how well it is doing.

Could you describe your typical ‘client’ and could you describe your ideal ‘client’?

Whether I am buying, selling or trading, I don’t see anyone as a client, but rather as a “trading partner”. Rarely do I do any trading with someone once, it almost always leads to repeat transactions. Often the guy I sell to, becomes my supplier down the road. If I had to imagine an “ideal client”, it would be a guy who buys a new Panerai every month, and has to sell it to me in order to pay his credit card bill when it arrives… at a great discount, of course.

What would like to say to all the potential (Canadian) watch buyers out there?

Patience!!! A lot of guys arrive on the forums with a chunk of money to spend, a watch that they have to own, and the desire to buy it today. If there is anything I am certain of after all of my years on the forums, it is that the watch you want WILL come around soon enough. Don’t compromise. Don’t cut corners. Wait and watch, and then pick your spot. And above all, due your due diligence on the watch and the seller. Use the community to help you.

Enzo Ferrari used to say that his favourite car was the one he hadn’t built yet. Does this phrase apply to watches?

A similar phrase applies here. When I am asked what my favourite all time watch is, I often answer “my next one!”

Which up-and-coming brand do you have your eye on?

There are so many small watch brands making high quality watches that I wouldn’t know where to begin. I recently had a Helson Bronze watch that was spectacular. I am so caught up in dealing with the big popular brands on a daily basis, that I don’t spend enough time researching the smaller brands. Is Panerai still an up-and-coming brand?

And finally, if you could only wear one piece for the rest of your life, what would it be?

A toss up between a Rolex Milgauss, a Rolex no date Submariner, or a Panerai 111. I am truly that simple.

Many thanks, Bobby! I hope everyone enjoys this read.

Yours truly,

TimeCaptain

You can follow TimeCaptain on Twitter @TimeCaptain_