Thursday, 8 January 2009

Madoff and the kings of bling

It's comforting to have your prejudices reinforced. For years I've followed the belief that the flashier the watch, the more worthless the man. News that Madoff has attempted to thwart liquidators by smuggling his bling out to his family has just confirmed me in my belief. The FT reports gold and diamond encrusted Cartier and Tiffany watches amongst other tat.

Me? I've worn only one watch for the past eight years. It cost then, and still costs, less than £20. It needs a new battery every four years or so, and because it only gains about a minute a year, a twice-yearly adjustment when the clocks change keep it as accurate as anything costing a hundred times more. It's been covered in cement, antifouling, sea water many times, and has been knocked, cracked, struck and dropped times beyond count. It's easily readable in poor light and is as valuable a sea-watch as one can find. It's made out of plastic and was designed, of course, by the Americans. MWC, who made it, have just manufactured another batch and even though the original shows no sign of flagging I'm about to order another two; even in the worst circumstances, these will see me out until they coffin me.

So before you entrust your life savings to a plausible investor, take a good look at his watch.

5 comments:

richard said...

Quite right;anybody wearing a Rolex spends his/her spare time polishing their fin.
I use a £7 analogue cheapie from Argos.Ca`nt beat it for the cost: use ratio.
Like your blog, shame about OH.

old and angry said...

I recently completed 25 years service with the same company,and they sent me a catalogue of watches and asked me to choose one,
these Bling watches cost an arm and a leg (i can choose one up to £2000 ).
I have only had 3 watches in my life.A Timex,an Ingersol and a Seiko 5 ,which i wear daily, and have done for the last 20 years.
I still have the catalogue,and cannot bring myself to order one of these overpriced eye candy watches.
I must contact my H.R. department to see what, if any, options i have.
I do not need my time measured by the millisecond,a couple of minutes gain or loss every month is of no consequence to me.

Nick von Mises said...

I'm aware you're somewhat hostile to communism, but how about a Vostok military watch for a great combination of performance and value

http://luch.biz/watchstore/vostok/VAUTO08b/2.JPG

About £30 on ebay.

Raedwald said...

richard - yeah, I'll miss OH a lot. Shame.

O&A - Quite right. Are they insinuating your time keeping skills are lacking or summat? £2k cash would buy 3 x 1oz Krugerrands at today's price with a bit left over for a pint or two.

Nick - tx. As a good capitalist I've no objection to buying Soviet surplus - I keep meaning to get one of those snazzy striped naval vests for summer on the boat.

Anonymous said...

I have never worn a watch. You are a bunch of ponces.