This article was first published Sept 27 2009 on TZ-UK

The Law of Subjective Diminishing Marginal Utility

I am now writing about something that by no means is anything new under the sun. It is also something that we all have become familiar with. I am, however trying to implement a new twist it. So, here goes:

Ever wondered the reason for keeping those expensive "desirable" pieces everybody "drools after" when you have found more pleasure in wearing a low priced cool piece that possibly no-one knows about save for the initiated ones? - reverse elitism, no?

Maybe. Maybe not, you are the only person who can answer that question for you. And, even then it is arguable can you be totally honest to yourself. We rarely are, us humans. Anyways, here is what I am getting to. - To me it seems that the law of diminishing returns applies heavily to WISdom. After all, watches are arguably a luxury commodity, not something that we really need in this time and age where all you need to do in order to know the time is to have a look at your cell phone or computer screen we seem to be glued to. This being so what can be seen as "value" is personal, thus the law of diminishing returns does apply but it does so more subjectively than if the case were about regular commodities, not luxury. - And there is the catch - one mans luxury is another mans garbage; what is of value to one man means little to another. And, right therein, lies the possibility  


The Law 

In my journey towards WISdom I have found that I get the most kicks out of something that is old, pristine and cheap as fish sticks. - The so called rare find if you will. There is just that extra something in being at the right time at the right place and paying small to get the big rush associated with the rare find. It is completely different from paying big bucks for something that can be had anytime, anywhere as long as you have the means to fund it.

I am not saying that one cannot cherish an expensive timepiece; especially if it is a difficult to find one. I am saying that whilst it certainly feels good to be finally able to get the so called "Big Kahuna" it just is not quite the same if you come across something uber cool for what appears to be fish sticks money considering what you get. 

Why? Because the law of subjective diminishing marginal utility applies heavily to WISdom. It does in my opinion. Then there is also the fact that there are so many intertwined factors that combined form the "experience": vintage, history, rarity, feel, fame, price, technological features, looks, image... add how seller and buying process influences the experience, possibly add the thrill of either having or not having to pay customs etc. There are simply so many things tangible and intangible to the watch that add to the equation of how you´ll "feel" about it that just naming them is difficult not to mention being able differentiate between them. 

So, whilst I appreciate my 3536-01 which was - and still is - a long time dream come true, a grail if you will, I get most joy out of those fish stick money rare finds which condition defy their age and which therefore would be next to impossible to replace.

The latest fish stick - 80´s Cold War coolness for 35 GBP shipped.

So, there you have it. In trying to better understand the secondary watch market dynamics and the underlying laws and principles that govern it I came up with this idea of Subjective Diminishing Marginal Utility. As stated in the beginning, it is not anything new, just an attempt in trying to catch verbally what those who have been in it for a few years know by experience - price and monetary value do not equate to WISdom as one mans luxury is another mans garbage. - What is of value to one man means little to other.

And, right therein, lies the possibility...