AT has his company's office in a high-rise building in Central, Hong Kong's central business district. T, who is now active in one of the leading centers of the global financial industry, says that his motivation for starting to collect watches goes back to around 20 years ago, when people were still financially strapped, the complete opposite of what they are now. At the time, luxury mechanical watches were gradually becoming more popular, but T, who was still a student, was unable to join in on the trend and could only watch from afar. How did he go from that time to achieving his current success?
Born in 1974. After graduating from university, he worked at an investment bank for around 20 years, specializing in M&A, gaining investment experience and a proven track record. After going independent, he founded an international financial company engaged in investment, research, and consulting. Following his fundamental desire for watches, he makes it a rule to "buy all" the models he likes. Due to his busy work schedule, he has not yet had the time to visit the Swiss headquarters of a watch enthusiast.
Photographs by Eiichi Okuyama, Yu Mitamura
Interview and text by Yukiya Suzuki (Chronos-Japan)
"The longing I felt for the time when I was still nobody. That was the origin of my interest in watches."
"I remember those days very well. Even though there was a watch I wanted to buy, I couldn't afford it because I was still a student. I still remember very well the Rolex and Patek Philippe that I wanted at that time."
Perhaps those experiences and memories are burned into his mind? When I was shown into Mr. T's office and saw his collection, his bold and unique way of buying made me wonder if it was "revenge" for the time when he couldn't buy things freely.
"Basically, when I find a model I like, I'll buy all of the case materials that are available for that model. If I like the dial variations as well, I'll buy them all, even if they're the same model. However, unlike in the past, I no longer treasure and wear one watch forever. Rather, I wear many watches, one after the other, like accessories. Although they are watches, their purpose is not to tell time on the wrist or as a tool to tell time."
In fact, Mr. T feels that he has been buying luxury watches intensively over the past few years.
"It's true that I have bought more than 20 luxury watches over the past two or three years. I am aware of this myself. I often hear people say that they buy luxury watches because of their 'asset value.' However, as a professional whose main job is investing, mainly in international finance, I can tell you that this is simply an inaccurate and mistaken way of thinking. In other words, trying to make a profit by investing in luxury watches is extremely inefficient. To give you some specific figures, in my regular investment business, I currently target an average profit margin of 15 to 20%, and I have actually achieved that. In contrast, it is extremely difficult to achieve such a profit margin by investing in luxury watches. It takes so long to recoup a profit that is commensurate with the investment, and frankly, I cannot wait."
So how can someone like Mr. T achieve business success worthy of buying such a luxury watch? We asked him how he ended up with his own office in Central, Hong Kong's most famous financial district.
"After graduating from university, I worked at an investment bank for around 20 years, specializing in mergers and acquisitions (M&A). Using that experience, I decided to go out on my own and start my current company. My company now has six divisions that handle investment, active research, and consulting, with a focus on investments in international finance."
Needless to say, Hong Kong is now one of the world's financial centers and the world's largest watch market. So how do the few people who have found success in Hong Kong buy their watches? Their methods may be far from ordinary. Still, for a Japanese person who lived through the prolonged deflationary period known as the "lost 20 years" after the bubble burst, there's no doubt that doing business in Hong Kong is high-risk, high-return. That's why, like Mr. T, when business is booming, he boldly spends commensurately. This in turn creates new business and profits. He honestly believes in the idea of "spend big, grow big" and puts it into action. It's a refreshing sight to see.
That said, what does Mr. T do with all those watches that fit into his collection box on a daily basis?
"I change the watch I wear every day, but the one I wear most often at the moment is the FP Journe Tourbillon Souverain with a jade dial. The reason is that I really like the color of the dial. I wear it a lot at work, in particular. Conversely, when I'm off work, I often wear a Richard Mille. When I go to parties, I deliberately wear a Patek Philippe perpetual calendar chronograph. In fact, this is actually a more 'stealth watch' than I'd imagined. I personally feel very satisfied wearing my Patek Philippe, but people rarely ask me about the watch, so I always call it a 'stealth watch'."
Mr. T, who seems to have gone through almost every luxury watch category at an incredible speed, was asked what watch he would like to have next.
"The watch I want to buy from now on is a Patek Philippe minute repeater that surpasses the "stealth watch" I mentioned earlier. And if I can afford it, I'd also like to buy an FP Journe Grande Sonnerie. The reason is that I like the volume and sound quality, which are different from the Patek Philippe repeater."
Mr. T is now in a position where he can buy anything he wants. But he says there is still a watch he wants. This "healthy desire for material things" may be a fundamental motivation that Japanese people are now beginning to forget.
