“The Luxury Watch Bubble" - Roman Sharf REVEALS: Luxury Watch Lies, Market Crash & Watches To Own | PBD Podcast | Ep. 507

Luxury watch dealer Roman Sharf sits down with Patrick Bet-David to discuss the truth behind the booming grey market, Rolex’s dominance, and whether investing in luxury timepieces is a smart move. Are watch prices headed for a crash? Find out in this in-depth conversation. --- Ⓜ️ CONNECT WITH ROMAN SHARF ON MINNECT: https://bit.ly/40MElRO 🎄 PURCHASE THE VT CHRISTMAS COLLECTION: ⁠⁠⁠https://bit.ly/4hDCt3S⁠⁠ https://bit.ly/4hDCt3S?utm_source=youtube&utm_medium=product_shelf 📰 VTNEWS. AI: ⁠⁠⁠https://bit.ly/3Zn2Moj⁠⁠ https://bit.ly/3Zn2Moj 👕 VT POLO SHIRTS: ⁠⁠https://bit.ly/3Y4Npig⁠⁠ https://bit.ly/3Y4Npig?utm_source=youtube&utm_medium=product_shelf 🎙️ FOLLOW THE PODCAST ON SPOTIFY: ⁠⁠https://bit.ly/3ze3RUM⁠⁠ https://bit.ly/3ze3RUM 🎙️ FOLLOW THE PODCAST ON ITUNES: ⁠⁠https://bit.ly/47iOGGx⁠⁠ https://bit.ly/47iOGGx 🎙️ FOLLOW THE PODCAST ON ALL PLATFORMS: ⁠⁠https://bit.ly/4e0FgCe⁠⁠ https://bit.ly/4e0FgCe 📱 CONNECT ON MINNECT: ⁠⁠https://bit.ly/3MGK5EE⁠⁠ https://bit.ly/3MGK5EE 👔 BET-DAVID CONSULTING: ⁠⁠https://bit.ly/4d5nYlU⁠⁠ https://bit.ly/4d5nYlU 🎓 VALUETAINMENT UNIVERSITY: ⁠⁠https://bit.ly/3XC8L7k⁠⁠ https://bit.ly/3XC8L7k 📺 JOIN THE CHANNEL: ⁠⁠⁠https://bit.ly/3XjSSRK⁠⁠ https://bit.ly/3XjSSRK 💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time! SUBSCRIBE TO: ⁠⁠‪@VALUETAINMENT‬⁠⁠ https://www.youtube.com/@VALUETAINMENT ⁠⁠‪@vtsoscast‬⁠⁠ https://www.youtube.com/@vtsoscast ⁠⁠‪@ValuetainmentComedy‬⁠⁠ https://www.youtube.com/@ValuetainmentComedy ⁠⁠‪@bizdocpodcast‬⁠⁠ https://www.youtube.com/@bizdocpodcast ⁠⁠‪@theunusualsuspectspodcast‬⁠⁠ https://www.youtube.com/@theunusualsuspectspodcast ABOUT US: Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Speaker 00

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• 0:31Speaker 01

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• 0:59Speaker 02

  This is an inside job, a big inside job. They're not telling you the whole truth here because they're embarrassed.

• 1:04Patrick Bet-David?

  That's why I don't trust watch salesmen.

• 1:06Speaker 02

  You have no idea how much fraud is in the watch space. I can tell you stories for days.

• 1:12Speaker 02

  That's a $1.6 million watch.

• 1:13Patrick Bet-David?

  That's a 1.6 million.

• 1:14Speaker 02

  It's also made entirely out of a piece of crystal. Billion dollar idea for the watch business. I'm about to shut down the entire idea, ready of one sentence.

• 1:21Patrick Bet-David?

  Tell me.

• 1:21Speaker 02

  There's one difference.

• 1:21Patrick Bet-David?

  Go ahead.

• 1:22Speaker 02

  All right, this is an addictive slippery slope.

• 1:24Patrick Bet-David?

  You mean to tell me this took 100,000 hours to make? And now they're asking for some $15 million? But guess what? I would pay for it.

• 1:31Speaker 02

  Those watches are going to be 10x value the minute you walk out that door. And they don't want that. So there's 12 of these watches in the world.

• 1:36Patrick Bet-David?

  And by the way, this actually goes with the outfit.

• 1:38Speaker 02

  Yeah. I knew, I knew what you were going to. And then when the story broke and I was double Russian oligarch, the highest offer I had on it was $45,000.

• 1:47Patrick Bet-David?

  For the, for the shoe.

• 1:48Speaker 02

  So the Shah wore, that's the watch that he wore.

• 1:51Patrick Bet-David?

  That's his?

• 1:52Speaker 02

  Not his. If it was his, it'd be a lot more money.

• 1:54Patrick Bet-David?

  What I'm saying to you is, I want what was his.

• 2:04Patrick Bet-David?

  Okay, so if you're a watch person, or not a watch person, but want to be a watch person, you're thinking about my budget is a thousand, five thousand, ten thousand, a hundred thousand, maybe a million. Where do I go? Who do I trust? How do I see if this is worth the investment or not? And if I were a Rolex, what does it say about me? If I were a Patek, what does

• 2:46Patrick Bet-David?

  it say about me? If I were a Aunt Jacob and Co., what does it say? What is, if I were an Apple, what does it say about me? We're gonna talk to a guy that's super qualified in this area. He's one of the OG guys. By the way, interesting background. He's a refugee from USSR, goes to Austria, Italy, from there comes to the States, Brooklyn, New York. Afterwards, starts selling newspapers, gets into sales, joins the US Army, comes out, goes to school, I believe Penn State, gets his electric engineer degree, then goes into watches. And he took a small business of selling watches, known one of the OG guys at the great market of watches, to build in a 25,000 square foot facility, 30 employees, doing 130 million dollars a year. Roman, it's great to have you on the podcast.

• 3:27Speaker 02

  Thank you so much for having me.

• 3:29Patrick Bet-David?

  Yes, and we got a, we got a collection of 10 million dollars of watches here, which we'll talk about as well, give or take. Yeah. And so, to the audience now, they kinda have an idea, the entrance of getting into the watch business. But maybe tell me specifically, like, how it happened. I was a baseball card guy. I liked collecting cards from the time I was a kid. How did you get into the watch market? Was it the appeal? Was there a story? Did somebody inspire you? What's the story?

• 3:56Speaker 02

  There's actually a great story. The nickname I go by around the companies, they call me the founder. Long story, I'll tell you later. But- What happened was, is I was in banking, I was working for Deutsche Bank at the time, commuted to New York City, two hours each way from Philadelphia, it was a bit of a rough commute. Unfortunately, was there on nine eleven as well when it all happened, our office was World Trade Center four. I get approached by a guy that comes to me, he's like, Roman, you know all this internet stuff? I'm like, well, it's a little bit more complex than that, you know, I manage a, Deutsche Bank's global payment system, which processes forty-two billion dollars a month, and I'm run a team that manages the hardware, right? And he's like, well, yeah, whatever, he had no idea, he's like, well, eBay is kind of blowing up, I sell watches, I know you like watches, and I always love watches due to the mechanics, because I'm an engineer by trade.

• 4:40Speaker 02

  How about I give you some watches and you put them on eBay and sell them and make a profit? Your cost is ten dollars, you can sell it for twelve. My response to him was, and this is a guy I've bought watches from before, my response was like, that's never gonna work, who the hell's gonna buy ten thousand dollar watches?

• 4:53Patrick Bet-David?

  What year is this, by the way?

• 4:54Speaker 02

  This is, we're going back to two thousand one, two thousand two. My business started when my wife was six months pregnant with my son, so it says, oh, my son's gonna be twenty-two, that's how old my business is. And I'm like, this is never gonna work, of course, it pays to have a wise woman on your side. He goes, I think this might work, we should give it a shot. Said, all right, because I don't have enough to do at the bank. So we started doing this part-time, she was helping me out, taking pictures in, with a digital camera, which was like four megapixels. Lo and behold, six months go by, a guy buys a nine thousand six hundred and fifty dollar watch, it was an Audemars Piguet Royal Oak City of Sales Limited Edition to a thousand pieces, I remember it to this very day. If you have the kind of time to scroll back on eBay, feedback on our store, about fifty thousand pages, you can actually find that sale.

• 5:36Speaker 02

  Guy from Germany sends me a wire, nine thousand six hundred and fifty dollars, I'm like, okay, maybe this can work.

• 5:41Patrick Bet-David?

  What'd you make on that deal?

• 5:43Speaker 02

  I made eleven hundred dollars.

• 5:44Patrick Bet-David?

  Okay.

• 5:45Speaker 02

  So.

• 5:45Patrick Bet-David?

  Is that real money at the time for you, like, is, are you and your wife sending?

• 5:48Speaker 02

  So, I make, at the time, I'm, I'm, I'm living comfortably, I'm making a hundred and twenty-five thousand dollars a year, plus bonus at the bank, my wife was at home at the time, and I'm like, okay, well, this is nice. Now, after taxes, that paycheck dwindles down to about seven grand a month, which was really good money twenty years ago. And after about a year of doing this part-time, my son is born, sleepless nights, just so you understand, I would leave at five fifteen in the morning to go to New York. I would commute. Back at seven thirty at night, my son was already asleep. And he was asleep when I would leave. I would see him on a weekend, literally. And then I would do this stuff part time. Again, there was no iPhones back then. There was no this high speed technology. So I would do this part time. And sometimes I'd get to bed at two o'clock in the morning. Plus, the team that I ran were twelve guys that worked out of Singapore.

• 6:34Speaker 02

  Twelve hour time difference. So sometimes my lunch meetings were at two o'clock in the morning. Let's just say the bags under my eyes speak for themselves, right? I worked an average of about forty hours to fifty hours at the bank and another thirty, forty hours doing my own thing. And I did that for almost three years. Having a conscious mind that I have a family support, I have a son who just bought a new house, I realized that I'm gonna have my side business bring me an income of one and a half of what I'm making now to feel comfortable that I can leave the corporate world. And it was a tough, tough choice. I was progressing really fast where I was. I had an opportunity to go far with the bank. But I did see economy shift post nine eleven and I saw a lot of guys get up and leave one day.

• 7:16Speaker 02

  And I'm like, do I really want that to be me? If I mess something up, let it be on me, not a corporate decision. Never blamed the bank for it. It was a proper corporate. They'd let go of fifteen thousand employees at that point, most of that out of New York. Every other guy on my floor got up and left. And I said, you know what? I'm here. I'm making the same amount of money as the bank is bringing me. I can support my family. I'm gonna go full time. And then the website came and the rest, as they say, is history.

• 7:40Patrick Bet-David?

  Very cool. Congrats on the, on the success.

• 7:43Speaker 02

  Thank you.

• 7:43Patrick Bet-David?

  With watches. I think the way, how did you and I get, I was looking at buying a, what, I was looking at buying a

• 7:53Patrick Bet-David?

  what was it? I was looking at buying a Patek, right? The Grand Master.

• 7:56Speaker 02

  The Grand Master.

• 7:56Patrick Bet-David?

  Right. And then I talked to a guy who through Adam,

• 8:02Patrick Bet-David?

  the gold guy, funny guy, track.

• 8:04Speaker 02

  Max.

• 8:05Patrick Bet-David?

  Yeah, Max, who was very funny, by the way. He was at our Monec event and I just like his.

• 8:09Speaker 02

  He is a, we call him a piece unique in our industry. He's a great friend of mine. He's a great guy. He's, he's very, he's different.

• 8:16Patrick Bet-David?

  Yeah. And so we're talking about this watch here, yes. And I call you, I'm like, hey, what do you think about this one? I'm calling a bunch of different guys. I'm ready to, you know, cut a check on a watch. I'm like, hell, well, before you do this, you may want to think about X, Y, Z. And from there, the conversation turned. I bought a watch from you for my wife. I think I bought that like two, three months ago and you were able to make that work. And it was very easy dealing with you, yourself, Adrian, the crew. So the experience was good. But I got, I got a bunch of different questions I want to ask you within the watch business. Okay, from somebody who is not in the space, somebody that, you know, maybe is somebody that is an obsessed, you know, watch guy. When, when you think about buyers, your customers, there's different profile of customers that buy watches.

• 8:59Patrick Bet-David?

  What do you notice profile of watch buyers? Is it a guy that, hey, he had a big commission day, fifty thousand dollars, wants to drop twenty K on a Rolex? Is it a guy that's always coming back buying? Is there a guy that's trading? What profile of customers do you guys have?

• 9:13Speaker 02

  It's really not about profiles. It's really understanding what your client wants, finding out what your client wants. And it changes with times, just like trends change, times change. Social media revolutionized the world to an extent where I would say the number one reason a person buys a watch today is flex. Right? That would be the number one reason. Then you have a type of client though, who is a big horological geek. He wants complications. He wants watches that are uber complicated. He wants watches that can be a full blown perpetual calendar, not just a daytime watch. You also have guys that are quote unquote investors, right? While I tell people watches are not an investment, they're an expensive toy first and foremost, which is the first thing I told you.

• 9:49Patrick Bet-David?

  You remember, you know, you were the one that came back to that. I can't believe you're talking me out of a five, six million dollar watch.

• 9:54Speaker 02

  Right? But there's a reason for that because my job is to educate the consumer first and foremost, to a point where they would feel stupid to buy anywhere else, regardless of price, within reason. That's always been my motto. And then when people ask me, hey, can you suggest a watch? I come back to them with questions and I ask them, A, what sings to you? Is it the history? Is it the brand name? Is it the flex? And I always say, please, if it is the flex, let me know. There's nothing wrong with it. Majority of buyers are out there for the flex aspect. But there are of course different type of flexes. So you have your vintage guys, you have your modern guys, you have your latest and greatest guys. Then you have the impulse buyers, the guys that see me post a watch on Instagram and five minutes later I get a DM and they want that watch.

• 10:35Speaker 02

  They want it now, they want it yesterday. Those are the impulse buyers. Those are guys that usually end up trading back and forth all the time. I have clients that will literally trade me watches on a monthly basis, two to three times. Every time I'm making a profit, every time they're seemingly taking a hit, but they don't care. This is, they're into for the hobby. They want to do it all day, every day. And then you have the guys that are seasoned collectors that are putting it away as a portfolio. Hey Roman, I want to put away X into watches and it's usually ends up being watches that they never thought about buying, nor are they very flexy, nor are they something that people want to show off.

• 11:07Patrick Bet-David?

  So stories with watches, like you'll see guys will say, um, you know, I see you wearing this watch, I see you wearing that watch, like cars, like, you know, I'll, I'll talk to my youngest son, I say, I just see you in a Porsche, and he likes the Porsche a lot. My oldest son, a truck or a Jeep, right? You kind of see them in that. Do, do watches match based on personality, size, skin color, you know, industry, wealth? Is there a match with it as well? Like what you wear, what you don't wear? How do you view watches? Like if I go to a place, I want to buy a suit, I'll go to a guy and say, hey, Stefano, here's what I'm looking for, here's what you need, you need this, this, this, this, that, and

• 11:52Patrick Bet-David?

  you need to do this, you need in your closet to be this, this, this, and that. How, how do you, to, to a buyer, somebody that's thinking about buying a watch, when it comes on to buying a watch, you got to keep in mind with this, this, this, this, that? What would that be?

• 12:04Speaker 02

  So it used to be very stereotypical. Your stockbroker had the gold Rolex, right? Your, uh, car salesman had the gold Rolex, right? And mo- most of this stuff was Rolex. Uh, you had guys that were in the upper echelon of corporate world that would have Pateks. But those things have changed, and the reason is perception in the world. You walk into a corporate environment, you're wearing a hundred thousand dollar Patek Philippe, that will work against you regardless of the position that you hold. If you hold a high position, and you're not walking in wearing a diamond encrusted Jacob, because now you're looking down to those that work for you. We have become so infatuated with perception of how we're seen by others, that everything you just said has gone away as we know it. However, there are certain questions, uh, that I would ask an individual in regards to, hey, what

• 12:46Speaker 02

  do you do? What's your day to day look like? Who do you interact with on a daily basis? If you're a plumber coming to fix the plumbing in my house, you're not going to come in wearing a big diamond watch. So a lot of this stuff comes down to practicality, right? Hey, are you an active, do you have an active lifestyle? You know, do you go skiing all the time? Are you riding motorcycles? Are you riding bikes? What do you do on a daily basis where I can put you into a watch that can withstand it? But the very first question is budget, because I say, buy what you like first and foremost within a budget that you can afford. Don't overspend, because this is an addictive slippery slope. You start down the You can see how quickly you're gonna want another and another. You mentioned baseball cards. I collect Formula One cards and I know exactly, it's the same exact concept. I want every card in every set and every grade and so on and so forth.

• 13:29Speaker 02

  It's, it becomes, it gets away from me very quickly. But for say today, it's the trends that dictate what one would put on his wrist. And then you have the big trend setters. You know, you have the big celebrities, some of them you can had on here. Guys like Jay-Z all of a sudden set a trend on vintage pieces. But then again, it started with Kanye when he put on the Cartier Crash, seemingly a woman's watch, that started the craze for smaller, collectible Cartier watches. Jay-Z is wearing a version of this watch with a baguette bezel today. He actually bought that recently, a couple of months ago.

• 13:57Patrick Bet-David?

  How much is that worth?

• 13:58Speaker 02

  Uh, that one is about eight hundred grand.

• 14:00Patrick Bet-David?

  What is the story of that watch?

• 14:01Speaker 02

  So this is six two-

• 14:02Patrick Bet-David?

  You wanna come see what that watch is? Go for it.

• 14:04Speaker 02

  So this is a vintage Rolex Daytona. Uh, back in nineteen eighty-six, Rolex started what we like to call off Cadillac pieces. You would know him as, for example, the Rainbow Daytona today, right? That's an off Cadillac piece. You have the tie guy, basically gem set encrusted watches. Well, this is the watch that started back in nineteen eighty-six. They made it with a diamond bezel, they made it with a diamond bezel, diamond dial, and they also made it with a baguette bezel, diamond dial, which is the one that Jay-Z wears today. Uh, production on these pieces were extremely low. We're talking about maybe thirty pieces.

• 14:34Patrick Bet-David?

  Oh, you gotta be kidding me.

• 14:36Speaker 02

  Oh, it gets rarer, trust me.

• 14:38Patrick Bet-David?

  So there's only thirty of those?

• 14:39Speaker 02

  Exactly. So, so when you talk about a short production number, because Rolex doesn't make limited editions, they just make short production. This was a test. Will this work? Can we get somebody to spend an exorbitant amount of money?

• 14:49Patrick Bet-David?

  When in eighty-six it came out, what did they sell it for?

• 14:52Speaker 02

  Uh, in eighty-six, this watch traded somewhere around six or seven thousand dollars.

• 14:56Patrick Bet-David?

  Oh, so from there to now, trading at?

• 14:59Speaker 02

  You wanna talk about investment? I know you're calculating things in your head. Yes, absolutely. This, this watch, you wanna talk about this watch? How about this watch? This watch originally sold for-

• 15:08Patrick Bet-David?

  Daniel.

• 15:08Speaker 02

  Uh, let's see. This watch, I'll show it to you. This watch originally sold for around thirty-two hundred dollars back in the early eighties. Last auction result on this particular piece was a million and a quarter.

• 15:20Patrick Bet-David?

  What is it?

• 15:21Speaker 02

  It's a Patek Philippe thirty-seven hundred. So all the Nautilus's that you know today were born from this watch, when Jenta designed it back in nineteen seventy-six, like the Royal Oakley did in seventy-two. Of course, that one's a little bit more special. That was made for the Sultan of Oman, the late Caboose.

• 15:34Patrick Bet-David?

  This was?

• 15:35Speaker 02

  Yes. And that's, see that little stamp on the dial?

• 15:37Patrick Bet-David?

  Yeah, that's-

• 15:38Speaker 02

  So one with that, it would be about a two, three-hundred-thousand-dollar watch. That little stamp makes a million-dollar difference.

• 15:43Patrick Bet-David?

  That little stamp makes a million-dollar difference?

• 15:45Speaker 02

  Yes. And there's a steel version of it as well, which was a few hundred dollars. And again, same stamp. There's only twelve of these known in the world. There's six of these. There's also a white gold version that we sold. There were three in the world. One is in a museum, one we sold, and one belongs to a collector in Germany who's got more money than Germany. So that one sold for two million.

• 16:04Patrick Bet-David?

  Oh, that, so you sold that one for two million?

• 16:06Speaker 02

  Yeah.

• 16:06Patrick Bet-David?

  So what is this one gonna sell?

• 16:07Speaker 02

  So this one is gonna be four and a quarter.

• 16:09Patrick Bet-David?

  Four, four twenty-five?

• 16:10Speaker 02

  Yeah.

• 16:10Patrick Bet-David?

  Okay. So what else? What else you got here with the watches?

• 16:13Speaker 02

  So when it gets to rarity, and this is, a lot of times, this tickles people's interests. They're like, "Oh, what do I go with?" And I start telling them a story. And it's not a story. It's not a sales manager's story. It's a real story. So there's twelve of these watches in the world. Seemingly, a Rolex Daytona, if you look close enough, it's got a blue dial. This was a friends and family executives edition, right? This particular watch has provenance. It used to belong to Adam Levine. But there's only twelve of them. And they were given to high executives and friends of the Rolex family. So this was never sold publicly. This was never sold to an individual. It was only given as gifts to high executives, as well as certain friends of the brand. Twelve ever made. They rarely come out in the market. They rarely trade, right?

• 16:58Speaker 02

  But then, you can flip the-

• 17:00Patrick Bet-David?

  What would that trade for?

• 17:01Speaker 02

  Uh, this one, uh, was six-hundred-and-fifty thousand.

• 17:05Patrick Bet-David?

  Six-fifty, and there's only twelve of those?

• 17:07Speaker 02

  Yeah, just, just so you know, a regular Daytona today retails around that fifty-thousand-dollar price range.

• 17:12Patrick Bet-David?

  Okay. I got it. So let me ask you a question. So let's just say I am holding a special birthday for my fiftieth, which is four years from now. And I want to go get a custom Rolex watch built, or whatever brand it is that I want to get it built, for a number of guests. That would be the example for me to work with them to build something custom.

• 17:34Speaker 02

  Will never happen.

• 17:35Patrick Bet-David?

  Will never happen.

• 17:35Speaker 02

  They will never do.

• 17:36Patrick Bet-David?

  Why not?

• 17:36Speaker 02

  Because Rolex is so exclusive and all these brands are so exclusive. You made a video that I reacted to where you talked about, hey, you can get a few Patek Philippe watches from Patek and then they'll make you a custom watch.

• 17:46Patrick Bet-David?

  Right.

• 17:46Speaker 02

  They will never do so. It will never happen. Paddock and Rolex, they keep a lid so tight that at this point, they don't need this, nor do they want to create that chaos. Because they know that the minute you do that and you make a limited run of 50 Rolex watches or Patek watches, those watches are going to be 10x value the minute you walk out that door. And they don't want that.

• 18:05Patrick Bet-David?

  See, what you just did right there telling me about the, that Patek will never do that, that's why I don't trust watch salesmen. Because the guy that told me that told me that in the Venice store when I bought a Patek watch.

• 18:16Speaker 02

  Majority of the staff that staffs these boutiques, they have zero availability on the stuff that you want. They're clueless.

• 18:22Patrick Bet-David?

  So how does a buyer, how does a buyer who is buying secondary market watches, not brand new, not directly, I'm buying it from somebody? How do you process who to trust and who not to trust? Like, for example, this is why when you and I spoke, I was about to probably dump $10 million into watches. And you pushed me away from it. And you remember when you and I talked, I'm like, listen, Roman, you make me not want to buy these watches, right? I was ready to go buy 10 million instead of that for the family. I know if I buy $10 million worth of cards and I ask the seller to meet me at PSA's headquarters, they'll go there, the president of PSA will be there.

• 19:07Patrick Bet-David?

  Hey, would you mind if we put in a new case and you, you know, look at this card and verify it? Great. Ken, can we put it in Golden, you know, Vault? No problem, or Heritage? Can we do something? Yeah, go to this guy, go to that guy? Great, there's a vault for me to go to? PSA, graded, all of that. So, in the card community, back in the days, there was a lot of fraud. Like, even the first Hannes Wagner card that Bruce McNull and Wayne Gretzky bought, later on, stories came out that that card was cut. Okay, edges, which made the corner so perfect, but, you know, it's not the same size as a regular Hannes Wagner card. Like, wait a minute, you just, you know, the corners were cut. Yeah, that one right there that sold for 451, I think at an auction in New York, if I'm not mistaken,

• 19:52Patrick Bet-David?

  back in the days, that the two of them bought. And I think nowadays, if you want to buy Hannes Wagner, you're gonna spend, I don't know, a million to 15 million dollars, depending on which one, you're buying the quality, but, right? But when it comes on to watches, there is no PSA, there is no BGS, there is no Beckett grading service, there is no SGC. How does a buyer trust the fact that they're buying a watch that's not fraud? How do you do that?

• 20:14Speaker 02

  You buy the dealer, not the watch. And I've been saying this for 20 years. And I tell people, there's a ton. You don't want to talk about fraud in the card space. You have no idea how much fraud is in the watch space. I can tell you stories for days. But, I tell people, buy the dealer, not the watch, and do your homework. And the number one rule is actually very simple. If it's too good to be true, it usually is. Give you a quick example. A guy calls me up, it's like, Roman, it's like, I'm, I want to buy this two-tone Rolex you have for 10 grand. I said, okay, no problem. He's like, but listen, I'm a little hesitant. You know, I got burned before. So, what happened? I said, I bought the same one on eBay, and it turned out to be a fake. This is years back. I go, that same watch trades today for 20 grand. But, he goes, you bought it on eBay, how much did you pay? 1,200. I asked him, what do you do for a living?

• 20:59Speaker 02

  And the guy's like some super doctor. I said, so you went to school for 45,000 years to become this fancy doctor? And it never dawned on you that a watch that trades for 10 grand, that you're buying for 1,200, is a little too good to be true? I go, show me the eBay seller. I go on there and back in the day eBay allowed this, they don't do it anymore. Guys would put up listings saying Rolex like watch. It doesn't have box in papers. Read the description carefully and look at the price and act accordingly. So they were selling clones. eBay stopped, put a stop to that after a while. I said, so when you read all that and you saw that, it didn't dawn on you that you're gonna get a fake? It's like, well, I thought it was eBay, I thought it was gonna be a good deal. Common sense will always prevail, but today's day and age,

• 21:41Speaker 02

  you have no idea for the first five to seven years being in business. I spend more time proving people that they're not gonna get a brick in a box from me. They're actually gonna get a real item. Today's day and age, you're protected from every angle.

• 21:53Patrick Bet-David?

  Let's skip that, let's go to you. So instead of like, here's a story, right? So Omega says, ex-employee is responsible for the $3 million fake Speedmaster watch. Rob, if you can go a little lower, zoom out a little bit, right? So that's, first, let's see what the watch is, see what it looks like. So that's the guy right there. Okay, let's go a little bit lower, zoom in so we can read this. Omega says it's been a victim of organized criminal activity alleging three of its former staff members admitting working with intermediaries to sell a fake Speedmaster watch for $3.4 million. The watch was bought by Omega itself for $3.115 million Swiss francs, 25 times the auctioneer's upper estimated price at a Phillips auction in Geneva, November 2021.

• 22:38Patrick Bet-David?

  Omega told CNN in a statement that it had intended to display the watch at its museum in Vienna, Switzerland with high-ups in the company believing it be a rare and exceptional timepiece that would be an absolute must for Omega's showcase collections. The item was thought to be a 1957 stainless steel currentograph wristwatch with a broad arrow hands and was described by Phillips as one of the very first and most collectible Speedmaster models. So you can go a little bit lower, Rob. So if these guys at this level screw up, I'm talking about not me trusting you. I wanna know you, like, they come to you in the dealer world. How do you know their bullshit? How do you know? Because sometimes-

• 23:21Speaker 02

  First of all, this is, notice they say organized crime. This was a scam long coming. A lot of people out there, when it comes to the vintage world, it all comes down to knowledge. You want to buy from the most knowledgeable guy. Why? Because when you're going back to the 50s and the 60s, Rolex has the shittiest records and so does Omega. Their archive and their record system, they're terrible, right? Patek Philippe probably has one of the better archive systems due to a friend of mine. I worked there for 15 years, creating that archive system, sitting in the basement, doing all the research. There's no internet, there's no Google Lens, right? So this is records that you're lying on from the 50s. One of the guys was working for the Omega Museum. He was very knowledgeable in what the watch is supposed to look like. They buy a watch that has the same case, that would have the same type of movement. They did something to the dial to turn it brown, right?

• 24:05Speaker 02

  That wasn't done naturally. They did something to the dial to turn it brown.

• 24:08Patrick Bet-David?

  Go back to that, Ron. Go, I'm listening. Turn the dial to brown.

• 24:13Speaker 02

  Right? And then what they did is they did subtle little things to show that that is no longer reference X, but it's now a reference Y, which is uber rare. You can change hands, you can change buttons, you can do all those things. But it requires tremendous knowledge in the world of vintage to be able to create what we call a Frankenstein. That's what this is. It's a Frankenstein watch, right? It's put together and it's done in this industry mostly with stuff from the 50s and the 60s from companies that don't keep good records like Rolex or Omega.

• 24:38Patrick Bet-David?

  So you're saying that's not common for it to be browned?

• 24:40Speaker 02

  It can naturally turn brown if it's set in the dark for 20 years. That wasn't done naturally, but there is a process that you can use to make it turn that way.

• 24:47Patrick Bet-David?

  Got it. And does that make it more mystique and more valuable?

• 24:50Speaker 02

  So tropical dial, so for example, the watch I'm showing you here, this watch is just starting to turn tropical. If I put it in the dark for another 10 years, it will turn completely brown.

• 24:58Patrick Bet-David?

  But does that make it more valuable?

• 25:00Speaker 02

  It does because it makes it a lot rarer, less of something. This is what it comes down to when it comes to vintage watches. So this was done maliciously. It took a couple of years of planning. The original watch that that was, was actually sold at auction. They augmented a watch a little bit and then eventually if you take a zoom in to this versus the original auction result a few years prior, you can see certain scratches that match, kind of like a photo match.

• 25:23Patrick Bet-David?

  Got it.

• 25:23Speaker 02

  This was done maliciously. Let me tell you what happens, or at least what I do when it comes to vintage timepieces. What I do is I partner up with an individual whom I trust and who I know is knowledgeable. Because the biggest fear I have is to sell you a watch where there's something not correct on the watch. Because of my knowledge. If I don't know something, I will reach out to an expert. I have a friend of mine, Adam Golden, Mentor Watches, and he's a vintage guy. He's actually an attorney, turned collector, who then said, screw being an attorney. I'm going to be a vintage watch dealer. He knows this stuff inside and out. He lives and breathes vintage watches. So rather than me taking a shot and saying, hey, Patrick, here's this great watch. And you pay me a million bucks. And then Patrick finds out, well, the buttons are not original. Something is wrong with the dial. It's been re-loomed, re-faced, repainted, or something like this.

• 26:08Speaker 02

  This is the worst of it. I'd rather make half the money and have an expert on my side. The way I can confidently walk into a room, say, this is a correct watch, and this is a watch for you.

• 26:17Patrick Bet-David?

  But how about when you're buying from a private owner who's not in the business? How do you know if the watch he or she is selling is fake?

• 26:26Speaker 02

  Well, first of all, I can tell a fake room from a, I mean, I can tell a fake watch from a room away.

• 26:31Patrick Bet-David?

  How?

• 26:31Speaker 02

  Right? Experience. You can't buy experience.

• 26:33Patrick Bet-David?

  How did Omega screw up here?

• 26:35Speaker 02

  Because Omega, this was done by people that worked for Omega in their museum that were verifying all this stuff. You understand? This is an inside job, a big inside job. They're not telling you the whole truth here because they're embarrassed. But when you have somebody on the inside who's supposed to be the guy telling you this is the correct watch, do you know why it fetched so much money? Because the insiders knew that Omega was going to bid on that watch. And you know, when Rolex or Omega come to the table in auctions, that's when records are set because they don't care. They keep the paddle up until they win because they want it for their museum.

• 27:03Patrick Bet-David?

  Got it. Okay. So what else? But when you say you can tell from, like, give me the most basic stuff. Like, for me, I can, you know, certain things in my business, I can see if somebody's full of shit or what they're doing because I've been in the business for a long time. So I'm with you. I read that part as well. But I'll be able to say, one, I'll look at this. Two, I'll look at this. Three, I'll look at this. Four, I'll look at this. Five, I'll look at this. Okay, how do you know somebody's? The other day, we get an email, hey, you know, I'm stuck at the airport. Can you please send me $2,000? My credit card's not with me. Oh, shit, Pat needs $2,000. First step is what? Go check the email. Oh, it's not Pat's email. It's fraud, right? Like, basic stuff like that. What are some specific?

• 27:36Speaker 02

  Trust and verify and really process. So, and you watch victims. And we do buy a lot of watches from the public. When it comes to buying B2B, I only deal with dealers with whom I have recourse. So if something happens down the line, or something is wrong, I know I have recourse. I can return the watch. For a full refund. So I I deal with trusted individuals. But when it comes to buying from the public, it gets a little bit trickier. So we have a service center. Every single watch that comes in from the public goes to my service centers. I have three watchmakers sitting there. That will test the watch. I don't care if it's a brand new Rolex. And seemingly it looks okay, and the paper's okay, and everything is okay. It still gets checked inside and out. So the minute that if you open up a watch, a professional watchmaker opens up a watch, they'll tell you if the watch is fake or not. Or parts were replaced. If the watch really new, isn't actually working properly. So we do a full blown test. Cost me to the tune of thirty grand a month to do that, just so you know, just a checking process.

• 28:21Patrick Bet-David?

  Right.

• 28:21Speaker 02

  Right? That's number one. So you get a qualified watchmaker to do so. After it comes back from my watchmaker and it hits the sales floor, there's another check. Adrian, my head buyer, who you just met earlier. Again, it's a quick look. It's a it's a quick look now at things like papers and boxes. There's a lot of telltale signs. Again, they all come from experience. But at the end of the day, I make you sign your life away when you sell something to me. If you ever go through the selling process on my website. You'll see that you're gonna have to provide all the profit identification. You're gonna have to provide certain paperwork, sign a certain contract. Right? So people will shy away to try to fraud people like us. They'll usually go after the smaller fish.

• 28:54Patrick Bet-David?

  Yeah, so you know, in in back in the days, I'm from Glendale. So there was a lot of cars that were salvaged, not pink slip, they still sold, and it wasn't shown salvage, and you sold more. So you kind of had a way of, you know, doing that. And then eventually they couldn't do it anymore because it was regulated, it was reported, and now we're kind of looking at the. It's like, hey, man, you have a salvage car. It's not a salvage car. This is a salvage car. It's not thirty thousand dollars. It's eighteen thousand dollars. Well, no, you have no idea what you're talking about. You had an accident. And it totaled this, and here's what you're doing. Oh, shit, you're stuck. You're caught, right? Credit, experience, trans, unit, and equal facts. What is the equivalent of that in the watch space?

• 29:33Speaker 02

  Doesn't exist.

• 29:34Patrick Bet-David?

  Doesn't exist.

• 29:34Speaker 02

  Does not exist. I.

• 29:36Patrick Bet-David?

  Why isn't somebody doing that? Everything nowadays is about grading service. Why isn't there a watch grading service?

• 29:41Speaker 02

  You create your own rapport within the industry. And there's not that many of us that have the type of rapport where. I was just talking to one of your guys before we started. I told him a story how I can walk into any room in my industry, and I can walk out with ten million dollars worth of merchandise without signing a single piece of paper. That's the reputation that you build up over the years. And that is what it's all based on. My industry is still very much based on a handshake.

• 30:03Patrick Bet-David?

  But what it. Go ahead. So if if you were to say. Are there the top like when you buy autographs of presidents? Trying to buy an autograph of Nikola Tesla. Is this a real autograph of Nikola Tesla? Is this a real autograph of George Washington? Is this autograph, you know, a big collection with that? How do you find that out? There's typically five guys who do COA, Certificate of Authenticity, who have been around a long time, who have the most credibility based on experience, 40 years. If the COA comes from this guy, boom, you're good. This is a real autograph. If the COA comes from that guy, boom, it's good. Who's the COA from such and such? I've never heard of them before. They just started two years ago. I'm not trusting this. That's a fake, right? You kind of move on.

• 30:45Patrick Bet-David?

  So, billion dollar idea for the watch business. What if somebody came out with a grading service for watch?

• 30:52Speaker 02

  It's been tried. There's a multitude of companies out there that are really concentrated on something what we call, is the watch clean? Because a watch could be stolen, right? That's the biggest issue that you face in our industry. You never know, a watch could be stolen. I've had issues. In fact, three months ago, a guy calls me up, hey Roman, I bought this Richard Mille from you. I just want to get it serviced at Richard Mille. They're telling me the watch came up flagged, it's red. There's no real system in the watch world to know if something is stolen or not. There's not a centralized system. Think about it. Europe, you have the Interpol. Here, you have the police. You have insurance companies. You have all kinds of stuff. You have guys claiming watches to be stolen just to get paid from the insurance company fraudulently. And then they go out on the open market and they sell them. Guy bought a watch from me five years ago.

• 31:37Speaker 02

  Said, all right, here's a letter from RM. Five minutes later, the guy received a refund. I went, pulled up my invoice from five years ago who I bought it from. I showed the guy the invoice, showed him the letter. He sent me a refund. It goes down the chain to the guy that doesn't have recourse, which is why extremely, extremely important to have recourse. But as far as the systems are concerned, it's extremely difficult to come up with that database. Number one reason is privacy. Would you want to take your baseball card collection and give me every PSA number of every card that you own? And put it in there so it's for public view? It's kind of tough. These things have serial numbers. Some people don't want to know what the world to know what they own.

• 32:15Patrick Bet-David?

  Let me tell you, if there was a grading service and that was done by professionals who had access to things with serial numbers, I think these watches, instead of selling for a million, they'd sell for seven million.

• 32:31Speaker 02

  You may be right. There's only one problem.

• 32:34Patrick Bet-David?

  What's that?

• 32:34Speaker 02

  I am that pro. And there's not guys out there that are going to be able to do. There's not a guy out.

• 32:39Patrick Bet-David?

  I mean.

• 32:39Speaker 02

  eBay tried it.

• 32:40Patrick Bet-David?

  Right.

• 32:40Speaker 02

  eBay did an authentication program. They called me up. They wanted me to pilot the program. I have a good relationship with them. I told them, I was like, who's going to be opening up these watches and telling me they're authentic? Show me who your expert is. You want, you expect me to send you a brand new hundred thousand dollar Rolex for somebody to open it?

• 32:53Patrick Bet-David?

  Well, you know what happens is, here's what happens. What happens is, like, there was a moment where credibility from BGS went to PSA.

• 33:02Speaker 02

  Yes.

• 33:03Patrick Bet-David?

  And the market had, wait a minute, who's authentic? Oh, that guy left BGS, Beckett, and he went to PSA. No way. They also went, this other guy went, that other guy went, what? And they're giving away nine and a half for nothing. Dude, PSA's not going to give you a nine and a half. They're going to give you an eight, or nine, or seven, where you can get a nine and a half. So PSA eight is worth more than a nine and a half. BGS, yes. Wow, why? Because the top graders went with PSA. That's why I asked who the top guys are in the space, because if this came in right now. Rob, can you do me a favor and go to CGCC? Just type in CGCC and type in Spider-Man. Maybe I'm not saying it correctly. CG, CGC. Okay. So if you go to take one of the Cs out, so CGC.

• 33:46Patrick Bet-David?

  This is, type in CGC comic books. Okay, CGC comic books. So what CGC does, click on that, zoom out a little bit. CGC is the grading service for comic books. That's what these guys do. And it was founded just 24 years ago. Okay? If you type in right now, most expensive comic book ever sold, most expensive comic book ever sold.

• 34:12Patrick Bet-David?

  Okay, watch what it says right there. Superman one, but why? It's a summer 1939 CGC 8.0. And it sold two years ago for 5.3 million dollars. I tried to buy this. They won't sell it, right? And now they're asking for some 15 million dollars for a comic book like this.

• 34:30Speaker 02

  And why not?

• 34:30Patrick Bet-David?

  But, but, but, but guess what? I would pay for it. I would pay for it just because CGC is next to it. A Marilyn Monroe CGC 9.6 Playboy issue number one, worth a lot of money. Then they did this grading with the video games. Rob, type in the most expensive video game ever sold. Have you seen this stuff or no?

• 34:51Speaker 02

  So the Mario Brothers, the one, the retail with the hook, that one?

• 34:54Patrick Bet-David?

  I don't know which one it is, but if you type in most, look, look at this one here. Yeah, Mario Brothers.

• 34:58Speaker 02

  Yeah, that's it.

• 34:59Patrick Bet-David?

  So most expensive video game ever sold was, uh, sold for 2 million dollars in August of 2021. But look at the grading.

• 35:06Speaker 02

  How many people ran to the addicts to see if they still have that leftover? Because that was like an extra you got with the, with the console.

• 35:11Patrick Bet-David?

  But I'm telling you, like, what I'm sharing with you, Roman, is and I, if I was in your world and I was really getting into that business, that I would go raise 10 million bucks.

• 35:22Speaker 02

  I'm about to shut that entire idea ready in one sentence. There's one difference.

• 35:25Patrick Bet-David?

  Go ahead.

• 35:25Speaker 02

  Right? And all this stuff, I'm a, wait till you stop by my office. You want to talk about collectors? I have, I'm big on cassette tapes. I think they're huge right now. I'm huge on Formula One stuff. I love comics. I love all this stuff. You know the difference between me bringing you these two Richard Meals here?

• 35:40Patrick Bet-David?

  What's that?

• 35:41Speaker 02

  So, two Richard Meals, are they real or they fake? I'm telling you they're real. You know who I am. I've been doing this 20 years. You trust me. I came.

• 35:47Patrick Bet-David?

  Daniel, stand up, come closer.

• 35:48Speaker 02

  You're buying, you're buying them, right? So I got about 800,000 dollars here.

• 35:52Patrick Bet-David?

  Each of them is what? 800 or 400?

• 35:54Speaker 02

  About 400. This one's a little cheaper. This one's a little more expensive, right? You know the difference between this and what you're showing me on the screen? There's no plastic case, nor would these timers ever be practical if they were to be sealed in a plastic case. Nobody collects watches for the purpose of doing what? I have all kinds of beautiful displays for my Formula One cards. I have these frames where the flaps fit in perfectly. I have these boxes where they slide in, the protectors and you name it. People wear these unless you're Jake Paul. And you're wearing your Pokemon Charizard around your neck in a necklace, which is still slabbed. You're not doing it with this. And that's the difference. As much as you want to have a grading, how good is the grading? The minute that this watch, I buy a brand new Rolex. Customer just bought it. He flipped it to me at a property. He just picked it up from Rolex two days ago. It's brand new.

• 36:39Speaker 02

  Still has stickers on it. I'm still, I'm still checking the watch.

• 36:41Patrick Bet-David?

  But you know what I would do? Here's what I would do. Let's, let's go with that. Say you buy a watch. And non-graded, like let's just say right now, if I wanted to buy this, what would I have to pay to buy this?

• 36:54Speaker 02

  440.

• 36:54Patrick Bet-David?

  Okay, let's say 440, right? And there's five guys that are selling this between 380 to 440, okay? But the one guy has it graded by BDC. I'm just giving a number. And it's for 600. But I know for a fact it's going to be legit. I would pay the 600 just because the credibility. And then guess what?

• 37:13Speaker 02

  You would be one of 10 million people that would do that.

• 37:16Patrick Bet-David?

  But, but I think it's a bigger market. I think it's a bigger market. Then I would take that. And if I don't care about the grading, I know it's legit. Guess what? I take the case out. I take my watch. I wear the watch. Three years later, when I want to sell it, I will go back to that grading service company. And I'll say, this is the watch, the serial number. I'll record it when I'm taking a watch and I'll say, can you grade it again? Because I want to sell it now. Then I would sell it to somebody.

• 37:39Speaker 02

  You know what, you know what question you just answered?

• 37:40Patrick Bet-David?

  What's that?

• 37:41Speaker 02

  The difference between gray market and authorized dealers.

• 37:43Patrick Bet-David?

  Which is what?

• 37:44Speaker 02

  So you're talking about wanting to buy a watch that's graded, that's slabbed, that's been authenticated. There's a slew of people out there that will still go out to the world and pay full retail for a watch. They could easily get brand new on a secondary 30 to 40% off, but they still feel comfortable inside to walk to an authorized dealer, an actual store. Where this is a company boutique or an authorized dealer and they're buying that watch. What you're talking about is the difference between buying the gray market and buying from an authorized dealer. Because when you walk into an authorized dealer, they're authorized to sell the brand. We're not. We're the gray market, right? This is the difference.

• 38:16Patrick Bet-David?

  I think this would sell more than the authorized dealer. I think this would sell more than the authorized. But let's get off this topic. This is just for me, my fascination of knowing the fact that I think someone could figure it out.

• 38:26Speaker 02

  I am so with you because I collect, I collect the same things you collect. I'm in the same space. I get it.

• 38:31Patrick Bet-David?

  So I'm just thinking like if somebody did that, you know, like remember that BMW, the one with Tupac that they were selling? I don't know if you remember when that was for sale or not. Rob, can you type in Tupac BMW for sale? Okay, the one that got shot, right? Uh, is that the one? Uh, can you go type in, uh, look what they're selling it for? See the number? $1.75 million. Okay. So can I fully get it from the VIN number? Can we go back and check to, I don't know. I don't know if I can or not. It would be some processing that I would want to do for me to say, yeah, this is the wrong one. This is not, maybe they changed it, maybe they did this. Who's the grading service? Am I going based off the DMV? Do I trust 100% the DMV? I don't know. But again, for me, it's purely the grading. But let's go back to it.

• 39:16Patrick Bet-David?

  You said something. You said, uh, you made a video when the fact that if you have this many watches with Pat Tech, they'll make a custom watch for you, right? Okay. So for a guy like me, I bought this watch. This is the first watch I bought. I bought it in 2015. I was in Paris. We had flown in from Dubai. And the watch couldn't be sold for another six months. I go downstairs to the, I said, what do you have that you can't sell? He says, I have this. I said, what is this? I have that. Why can't you sell it? Well, I can't sell it because the market, we just got it. There's only a few of them, but I can sell it to you in three to six months. I said, I'd like to buy it. I'm telling you, I can't sell it. Anyways, by the fifth day, we build a relationship. He agreed to sell it to me. No problem. I bought the watch. I bought this for my son.

• 40:00Patrick Bet-David?

  This is for my oldest son. I bought another Pat Tech for my son. I bought a Senna, my daughter's Senna. I bought it for her. My wife bought, everything I own with watch, I'm not in the business of reselling. I'm in the business of, hey, son, I wore this because when I was in, you know, France, I bought this for you because you were three years old. And I said, one day this is going to be yours. I wore this watch when we sold our company and I was signing, I was wearing this. History, family, it means a lot to my kids, right?

• 40:29Speaker 02

  You're the same with art.

• 40:30Patrick Bet-David?

  I love it. So, but going to it for a guy like me who... For, uh, would like to put on a big 50th birthday party and reward the people that have been most influential in my life. And I would like to find a way to make a custom watch collection to sell it to them. Okay. Who would I go through to be able to do that? Nobody?

• 40:53Speaker 02

  You're not going to Paddock. You're not going to Rolex. You're not going to Omega. But there are plenty of brands that would love an opportunity. And so for example-

• 41:01Patrick Bet-David?

  Big brands or like the new ones?

• 41:02Speaker 02

  So for example, I brought with me a Ulysse Nardin, right? This is a Jecimart minute repeater, striking time. This is one of the most complicated movements that a watch can have. A minute repeater, it literally chimes out the time, right? So it will, if I wind it up, you can hear it. You can actually, damn, I just wind it real quick. And it's also a mechanical automation, kind of like the big clocks that had in medieval times. So, uh, if I depress this, you can, well, you can take the headphones off. See how the guys are moving, I'm striking the bell?

• 41:33Speaker 00

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• 42:35Patrick Bet-David?

  Wow. By the way, that's a beautiful watch.

• 42:39Speaker 02

  So that's

• 42:39Patrick Bet-David?

  Come closer and see, Daniel, come here, you gotta see this.

• 42:42Speaker 02

  They made only thirty of those.

• 42:43Patrick Bet-David?

  Okay.

• 42:44Speaker 02

  It's a three hundred and eighty thousand dollar watch. And obviously, what you're paying for is the complication. Not only does it chime out the time, it also actually animates on the screen. And Jaquimarts, quick side story, goes back, literally means guys ringing bells. So think about medieval times when either you wanted to tell people what time it was, or you wanted to warn them of a fire or anything like that. That's why it's called Jaquimarts. Although, there's another theory that in nineteen oh five, some monks wrote a book that talked about Jaquimarts. A guy named Jaquimarts, who invented the automation of the clocks actually striking bells automatically on top of the towers. But, there's always a story behind this stuff. So, you go to a brand like

• 43:22Patrick Bet-David?

  Not Rolex, not Patek, not Omega.

• 43:25Speaker 02

  You go to a brand like Louise Nardine, now mind you, they've been around since eighteen forty-six. They made their money in marine chronometers. In fact, they were so good that the English Navy ditched their marine chronometers and they were able to use theirs, and they sold them throughout the time. US Army, same thing, they use chronometers at sea because back then, you needed to know where you are at sea, right? And what you needed to know is the difference of time that has passed since you left the port of entry, so you can calculate where you actually are, right? So, they made their big name, they've been around since eighteen forty-six continuously. This is a brand with a ton of history. So, this is a brand that would actually value somebody like you. Remember, Patek, Rolex, some of these brands, they'll have their noses up in the air. Omega is owned by a big group, right? It's the Swatch Group.

• 44:05Patrick Bet-David?

  How about AP or VC or those guys?

• 44:07Speaker 02

  AP is also going to be very difficult. A lot of these companies, the industry that you're going into, they have their noses up in the air and they think about how is it gonna affect us and what is that going to start? If BBD wants to have a watch made, then the next guy's gonna wanna have a watch made. What they do instead is they take on ambassadors, they make limited editions for them, right? So Jay-Z was an ambassador for AP, LeBron was an ambassador for AP, John Mayer's an ambassador for AP, right? They either make a limited edition, or they'll make a limited run that is designed by a person.

• 44:35Patrick Bet-David?

  If they do a limited edition of thirty, they're not giving Jay-Z the thirty to do, they're giving one to Jay-Z.

• 44:40Speaker 02

  That was a big thing, by the way. Francois, the ex-CEO of Audemars Piguet, he came to the Swiss and said, "Hey, I wanna use this hip-hop artist as an ambassador." And they'll They all flipped out. What are you talking about? World of hip hop, AP, where this, because remember, these are all suit wearing, white glove, very conservative people. They only allowed him to create. They did ten pieces in platinum, they did fifty pieces in rose, and they did ninety pieces in stainless steel. And they only allowed him to sell it in America. But when they sold like hotcakes. This thing came with an iPod, signed by him, big box, awesome watch. And when they saw the success of that, that's when they loosened up a little bit. Oh, there it is.

• 45:19Patrick Bet-David?

  And what did that, so they gave it to Jay-Z and then they sold the rest?

• 45:23Speaker 02

  Jay-Z got one to wear one, as an ambassador, and they sold the rest. And they sold like hotcakes. In fact, they sold over retail. This is, back in those times, AP offers were, limited offers were the hottest thing, and I was selling a ton of them. So if a stainless steel one, back then, retail for somewhere around that fifteen to seventeen thousand dollar operations, they were selling on a secondary for thirty-five.

• 45:42Patrick Bet-David?

  Wow, and what's it selling for today?

• 45:44Speaker 02

  Seventeen.

• 45:45Patrick Bet-David?

  Seventeen thousand?

• 45:46Speaker 02

  Trade, this is when people ask me about watches being an investment. You have to remember one thing.

• 45:51Patrick Bet-David?

  You are joking.

• 45:52Speaker 02

  Trends. Think about the trends. Because this is what's selling, that's the latest and the greatest for AP. The Frosted Rainbow. This is the watch that trades at double its retail value today. Trends, remember, this is something you put on and you wear and you flex with. And now what do you do? With the fuel of social media, you look up to those that you admire on social media.

• 46:12Patrick Bet-David?

  What's make this special?

• 46:13Speaker 02

  So this is a, first of all, it's a frosted finish. So if you notice, notice, feel it.

• 46:17Patrick Bet-David?

  Oh, my God.

• 46:18Speaker 02

  It feels like sandpaper a little bit. This is all hand hammered.

• 46:20Patrick Bet-David?

  Dan, Daniel, can you zoom in on this? It feels amazing.

• 46:24Speaker 02

  Right? You also have a rainbow bezel. So these are sapphire, sapphire bezel, done as a rainbow. This is obviously, Rolex started with a rainbow Daytona, and then everybody kind of caught on with it. It's also a skeleton double balance, it's super accurate watch.

• 46:38Patrick Bet-David?

  So what does this go for?

• 46:39Speaker 02

  This is gonna cost like three eighty.

• 46:42Patrick Bet-David?

  This is three eighty. But in this, when it first came out, what was this? When it first came out?

• 46:47Speaker 02

  The MSRP on the watch is a hundred and sixty-eight thousand.

• 46:49Patrick Bet-David?

  And it's selling for three eighty right now?

• 46:51Speaker 02

  Exactly.

• 46:51Patrick Bet-David?

  What is it gonna be worth in fifteen years? Back to one eighty?

• 46:54Speaker 02

  This is where I wanted to talk to you about investments, right? Notice I brought a little bit of everything. I brought the latest and the greatest and the hype, right? But I also brought you proven pieces. The last auction result on this watch was a million and a quarter.

• 47:06Patrick Bet-David?

  And that watch is how old?

• 47:08Speaker 02

  This watch dates back to late seventies, early eighties.

• 47:11Patrick Bet-David?

  Late seventies, got it. So that's an investment. You buy that, you set that aside, you're gonna be fine.

• 47:15Speaker 02

  But then here's the thing. It also depends on the quantities, right? And who actually owns these watches in the market? So if you think about it this way. If I needed to get you two of these, you call me and say, I want one for me and I want one for him. I would say, sorry.

• 47:29Patrick Bet-David?

  I like them a lot, so.

• 47:30Speaker 02

  That much?

• 47:31Patrick Bet-David?

  Not that much, but.

• 47:33Speaker 02

  But my, my response to you would be. I'm sorry, I'm, I'm gonna have a hard time. You're gonna be like, well, why? Well, there's only six cities in the world, so what am I gonna do? I sold one of these before, so this is the second one I have.

• 47:44Patrick Bet-David?

  Yeah.

• 47:44Speaker 02

  I would go back to my client who paid me a million too. And say, listen. Would you consider selling your watch? Now, people that are buying million dollar watches, they're not exactly somebody that are motivated by money. They're motivated by things that nobody else has and they can't have. And I'm gonna have to make him an offer he can't refuse. So if you buy that watch and tomorrow somebody wants it, you say, you know what, Roman? I'll part with it, but I'll need two million. Imagine if you owned the highest graded Mickey Mantle. The one that sold for 12 million bucks, right? And you're that collector, what would it take for you to? Get rid of that card? It would have to be some ridiculous offer or something where you. Oh, you know what? If you get me the number one Superman. I'll let go of this. Like, like, like on Ken's show, right? Remember that whole ordeal with the comic books, the last episode that he did or the last season?

• 48:27Speaker 02

  By the way, I'm interviewing with Alex at my office when I get back on Thursday. They're doing a whole interview. They wanna talk about Formula One and collectability and all that stuff. Alex Viame, the one that was on the show.

• 48:37Patrick Bet-David?

  Yep, yep. So, okay, so let's, so let's go back to this. So we, so if, again. Patek. The idea of that watch that we looked at, you and I. The Grandmaster, Rob, if you can go to it. So this watch, I think Sly just sold his, right? 5.2, I think I saw 5.2, was it 5?

• 48:55Speaker 02

  All in, all in, it was 5.5 million, 5.6.

• 48:57Patrick Bet-David?

  You're adding the 22% or whatever.

• 48:59Speaker 02

  Well, you have to.

• 48:59Patrick Bet-David?

  Totally get it. So if you take the 22 out. You gotta put it in there, I get it, okay. So what makes this watch unique? Where, when you and I were speaking, I said, how many of these you, did they make? You're like, nobody knows how many they made. Is it eight? Is it 12? Is it 16?

• 49:13Speaker 02

  It's not high.

• 49:14Patrick Bet-David?

  Is it less than 20?

• 49:15Speaker 02

  Uh, most likely yes.

• 49:17Patrick Bet-David?

  More than 10?

• 49:18Speaker 02

  Yes.

• 49:18Patrick Bet-David?

  Okay. So 10 or 20 of this they make. And it says, the Grandmaster Charm is the most complicated Patek watch ever made. It boasts 20 complications, a reversible case and two independent dollars and six patent innovations. The development, production, assembly process. Staggering. You mean to tell me this took 100,000 hours to make? A hundred thousand hours. So I was about to buy one, you and I talked about this and you persuaded me to get away from buying it. And we talked about the dollar amount, it was good when we had to go, by the way, just so you guys know, if you're thinking about buying a watch, you can connect Roman and ask him a question about a watch. Whether you want to buy a watch from him or whether you want to buy a watch from somebody else, you just want his counsel, you can send him a connect.

• 50:01Patrick Bet-David?

  And I would highly recommend you ask an expert like him before you buy a watch. He's on my neck, download the app, go to Roman Sharp or use a QR code. You can go ask a question from him. So,

• 50:13Patrick Bet-David?

  what makes that watch be worth as much as it was where Mark Wahlberg owned one? Right? Sly had it, that he sold and a few other people that owned it. And Sly made a videos and I cannot believe I got this watch. He put his gloves on the whole presentation. Remember when the, I'm sure you've seen.

• 50:27Speaker 02

  I had that watch in my hands. I'm friends with Sadabey, so I was there to preview.

• 50:30Patrick Bet-David?

  What makes that watch that special, that right off the bat? It's not like it's an old watch. It's not like a prince had it, a king had it, the president had it. It's not like that's a watch from the Shah. It just came out five years ago and they're already asking that big of an amount right there. So for 5.4 million dollars, show the watch that he's holding, Rob. What makes this so unique?

• 50:50Speaker 02

  People want what they can't have. Now Paddock has what's called a

• 50:55Speaker 02

  application process. In order to get up to that watch and to be able to get it from Paddock at retail, which is roughly about half that. Right? You would have to have a history with Paddock dating back years. You have to start from the ground up and you would have to buy an X amount of watches over years upon years upon years. Then you have to go through a vigorous interview process with Stern. He'll literally fly you out to Switzerland before he flies you out to Switzerland to say, what's your purchase history? How many pieces have you bought? You literally have to work your way up to it, starting with a $20,000 Paddock to 200, 300, 400. To get to this, which is the ultimate grand complication. And this is the biggest scam that a company could create and I salute them for it. Imagine this, you want to spend 2.3 million dollars on a watch, you call Protect the Leap and they say, what have you bought from us before? Where's your history?

• 51:38Speaker 02

  Oh, you haven't bought enough from us. I'm sorry. We can't sell you this watch. Like, think about it. Think about what that creates inside the mind of a person that can afford this $2 million watch. And what do they do? They go out in the secondary and they pay to say, hey, F you, I have the watch. It's not, it's the inavailability. If you can't get it, you want it. Same thing with Richard Mille. You can't get them. There's a line that's a mile long for them.

• 51:59Patrick Bet-David?

  Ferrari, you know.

• 52:01Speaker 02

  There you go.

• 52:02Patrick Bet-David?

  Ferrari dealership and then, you know, the SP3 comes out. You look at the SP3, if you were on the list, you could have bought it for 2.4 million, right?

• 52:09Speaker 02

  But you have to have the SP2.

• 52:10Patrick Bet-David?

  That's right. You have to have the SP1, and you have to have the SP1, you have to have a couple of this. But look at this guy. Just saw one two days ago in the, in the dealership. They got a.

• 52:17Speaker 02

  A client of mine got that watch in purple.

• 52:19Patrick Bet-David?

  The car in purple?

• 52:20Speaker 02

  The car in purple.

• 52:21Patrick Bet-David?

  Holy shit.

• 52:21Speaker 02

  And I'm like, why? Well, he's got.

• 52:23Patrick Bet-David?

  I wouldn't do purple.

• 52:24Speaker 02

  Yeah.

• 52:24Patrick Bet-David?

  To your friend, whoever your friend is, not my taste, but good for you. When I, when I see this car, you're just like, you freaking car, I want you. It's gorgeous. And I'm a LaFerrari guy. My youngest son liked the Enzo, so we'll look at the Monza. We want to get some kind of a collection to put in the hangar, but you want this SP3. If you're not in the system, haven't bought them. By the way, Jay Leno cannot stand Ferrari's point system. Cannot stand, uh, uh, how they work. I mean, he's been so critical that he doesn't even buy anything directly from them because he can't stand the fact that they do what he do. You need to own all these other cars. With Patek, similar system, what you're saying.

• 53:03Speaker 02

  It's literally exactly the same.

• 53:04Patrick Bet-David?

  Okay, perfect. So whereas in Ferrari, they want you to have a Testarossa, they want you to have a Pista, they want you to have a Italia, they want you to have a V12, they want you to have a this, engines, different models that they look at, right? What's Patek's?

• 53:19Speaker 02

  Patek's is, again, it's literally a.

• 53:22Patrick Bet-David?

  Is it just dollar amount or volume?

• 53:24Speaker 02

  It's a volume as well as, as you going up in complications, right? So let's say you started, it's like you started with a California, let's say, and then you moved yourself up to a Pista 812.

• 53:33Patrick Bet-David?

  Is it buying directly from them or from anybody?

• 53:35Speaker 02

  It's buying either directly from them or buying from their authorized dealership.

• 53:38Patrick Bet-David?

  Oh, perfect. So if you have bought it from authorized, okay. So the levels, does it eventually go to the point where? They will make a one-off just for you.

• 53:48Speaker 02

  Yes.

• 53:49Patrick Bet-David?

  So why'd you say they don't do it? You said earlier that they-

• 53:51Speaker 02

  The exceptions are so rare. I've been doing this for 22 years.

• 53:54Patrick Bet-David?

  Yeah.

• 53:55Speaker 02

  Okay, I sold four one-off paddocks in my entire career.

• 53:58Patrick Bet-David?

  So the sales guy in Venice, I just talked shit about you, he was telling the truth. So you could get to a point that they make one for your family.

• 54:05Speaker 02

  Yes, but the amount of spend and the connection, it's also not just about the spend. It's also about who you know and how important are you of a figure. It's not about sometimes even the spend, but they have shied away from doing stuff that's unique for many, many years. The youngest piece unique Patek, actually, we sold one last week, but that one dates back to the 70s. It was a unique dial, special order dial. It was an $880,000 paddock.

• 54:29Patrick Bet-David?

  But there's only one of it.

• 54:30Speaker 02

  There's only one. I've sold a 3939. If you saw that watch, we call it the billionaire's watch. What an paddock 3939.

• 54:39Speaker 02

  That look like a half a million bucks to you?

• 54:42Patrick Bet-David?

  Is that what it is?

• 54:43Speaker 02

  Yeah, well, the one I sold was, I think the retail originally on the watch was somewhere around 300 and something when I first sold them.

• 54:52Speaker 02

  This watch was made with a black dial for someone. At the time, the market on a regular one was 350,000. That one sold for 550. Again, somebody had a relationship. Somebody had somebody on the inside. Don't forget, that happens too, because that particular watch didn't really come from a collector. It came from an individual who poses a collector for many, many years, had some inside hook within the company, managed to get that watch.

• 55:15Patrick Bet-David?

  And then when it does, when it does happen with that relationship, whoever the individual is, what does that look like? Is that you go in, what do you want to be unique about it? What would you like it to have? Does it have meanings for your family? Is there certain things in it?

• 55:27Speaker 02

  There's gonna be limitation out the wazoo. There's not gonna be, oh, I wanted the orange dial with these markers and I want you to put a diamond at 11 o'clock. That doesn't happen.

• 55:34Patrick Bet-David?

  But is it, is it kinda like you go there and the artist tells you, here's what we're gonna put together for your family, or do you have any influence over the art?

• 55:42Speaker 02

  You have some influence. For example, you can deviate just a tiny bit, because most of these unique watches, they usually have some sort of a different dial, and that usually translates into a color. So if a watch is normally not made with a black dial and you're asking for a black dial with red markers, they may entertain that.

• 55:57Patrick Bet-David?

  Got it. So it's not dramatically.

• 55:59Speaker 02

  It's not. You're not going to see a dramatic difference. Most people won't know that that's a one-off.

• 56:03Patrick Bet-David?

  And why is it, when it comes on to watches, would you put them at the top? Are they the cream of the crop?

• 56:08Speaker 02

  So Rolex is king and Patek Philippe is the Rolls Royce, right? When I say king, I say in terms of sales. I mean, it's a company that spits out over a million watches a year. Their sales in 2023 were more combined than the other three brands below them in terms of sales, right? Rolex is number one in terms of popularity up here.

• 56:26Patrick Bet-David?

  Is Rolex Mercedes?

• 56:28Speaker 02

  Uh, Rolex, yeah, I would say so.

• 56:30Patrick Bet-David?

  And then Patek is Rolls Royce?

• 56:32Speaker 02

  Patek is Rolls Royce.

• 56:33Patrick Bet-David?

  And what makes Patek Rolls Royce?

• 56:35Speaker 02

  It's the prestige. It's the prestige. Uh, majority of their catalog is pretty conservative. They tend to, uh, to a older crowd, a more successful crowd, I would say. Rolex is a first money watch, right? My very first watch was a Rolex I bought at a pawn shop for a thousand bucks when I got my first corporate job. My Rolex walked into a room five minutes before I did. Hey, everybody, look, I have a Rolex on my wrist, right? People don't do that with Patek.

• 57:00Patrick Bet-David?

  Why not?

• 57:01Speaker 02

  It's more conservative. If majority of their lineup, what's hot now is their Nautilus, is their stainless steel stuff. The young kids are wearing that because it's hot, it's popular, it's in all the rap songs, right? Where 90% of the Patek catalog, you can get it at a discount. You know that, right?

• 57:17Patrick Bet-David?

  90%?

• 57:17Speaker 02

  90% of their entire catalog I can bring to you at a discount.

• 57:20Patrick Bet-David?

  How much of a discount?

• 57:22Speaker 02

  And you're where from 10% to if it's on a secondary, maybe less than half. Don't think that Patek and every single brand to include AP are big, almighty like Rolex. Rolex is the mightiest in terms of majority of their catalog today trading at over retail. That's how popular they are. With Patek, it's Nautilus, it's Aquanaut, and a few other brands, a few other things.

• 57:41Patrick Bet-David?

  I just tapped right now, Patek's, Patek's market cap, $2.37 billion. And they're the third largest market cap, and it got 6% of the market share, okay? When you look at them.

• 57:54Speaker 02

  How about Rolex?

• 57:55Patrick Bet-David?

  Rolex, uh, Rob, can you type in Rolex market cap? This Rolex is at $11.25 billion. Market cap. Cartier's at 3.59. Omega's $3 billion.

• 58:08Speaker 02

  Yep.

• 58:08Patrick Bet-David?

  Omega is 3 billion and these guys are at 2.6.

• 58:11Speaker 02

  Omega is the, is the, is the money horse for Swatch Group.

• 58:14Patrick Bet-David?

  So I noticed a stat that Humberto was showing me earlier. Uh, only 2% of watches are made in, uh, uh, Swiss, uh, uh, Switzerland. Yet, um, 50% of the value of watches is from there. Why is that?

• 58:29Speaker 02

  Uh, imagine what one is good for, right? If you look at certain countries, you can say, hey, you know what? Belgians are known for their chocolate. It's the best chocolate. They invented chocolate, right? I was actually at the shop where the chocolate was invented in Brussels, right? It's in the middle of Times Square, right? The shop is still there. It was done for medicinal purposes at first.

• 58:46Patrick Bet-David?

  How good was it when you had it like right there?

• 58:47Speaker 02

  I love chocolate. So for me, I'm just like, and then, but it's the idea. I am in the shop where it was invented and I'm eating this chocolate. It's like, you know?

• 58:54Patrick Bet-David?

  Yeah.

• 58:54Speaker 02

  And you, and if you think about a fancy watch, you automatically think Swiss and that sticks with you, right? You think about car engineering and I'm not talking about Ferraris. You think Germany, right?

• 59:03Patrick Bet-David?

  Why though? Why is the history Swiss though? Why? Is there a history of two guys and it's got so?

• 59:07Speaker 02

  So original watch started, the original very first watch as we know was a drum pocket watch that was done. The oldest known example that exists today dates back to 1525 to Germany. From Germany, it went to England, it went to France, and then eventually it settled in Geneva. Back then Geneva was a, uh, state, a country state. It wasn't part of Switzerland. It was just Geneva, the state, right? And that's where all the craftsmen settled. It was just a question of where they were geographically. Now the minute there's a center created for something, we're going back to 1700, 1600s. The minute there's a center that's created for something, it becomes a hub, right? Just like a port city becomes a port and becomes an important trade route, right? Or a trade hub. It's the same thing. And once you have a certain population of these craftsmen, the others will flock.

• 59:51Speaker 02

  Apprentices will flock to learn and eventually that will grow. And that's how you end up with Geneva being the capital of the watch world.

• 59:58Patrick Bet-David?

  So it's kind of like Silicon Valley. That's what it is.

• 1:00:00Speaker 02

  Exactly. That is exactly that.

• 1:00:01Patrick Bet-David?

  They're, they're over there building these. By the way, I saw this video, Rob, if you can pull this up about Rolex. And this, this, this other guy who is a, uh, uh, not this, Rob. If you can go to the other one where.

• 1:00:13Speaker 02

  I brought it Jacob.

• 1:00:14Patrick Bet-David?

  Uh, you did. We'll get to that. There's a, there's a watch about, about Rolex where it says, hey, I can't stand the fact that they're doing XYZ about Rolex. And why do they do this? Similar thing that Jay Leno said about, uh, Uh, Rolex, I send it to you, Rob. We, we looked at it at lunch. If you don't have it, I'll text it to you. Uh, ba, ba, ba, ba, ba. Here it is. And it's the distaste for whatever Rolex does. If you look at it, I just send it to you. You can pull this up. Yeah, and it was, uh, what makes people annoyed about Rolex? And I'm curious to know what your reaction is going to be to this. Go ahead, Rob.

• 1:00:50Speaker 05

  Buy a Rolex.

• 1:00:51Patrick Bet-David?

  Ha, yeah.

• 1:00:53Speaker 05

  What's so funny? We ain't selling you a Rolex. Well, I got the cash right here. If you buy $50,000 worth of jewelry, I'll put you on the waitlist. $15,000? How long is the waitlist? Yep, anywhere between one to two years. Okay, let's get 10 of those watches right there. Thanks for your purchase. We'll reach out if we have a Rolex for you.

• 1:01:10Speaker 06

  Yeah, this is one of the reasons why I am absolutely sick of Rolex. The attitude, the arrogance, and definitely the dealing under the table. Because this happens every day. I like, I [__] you not. I was in America two weeks ago. This is literally what a dealer said to me. I'll help you out. You need to help me out. You need to put some money under the table. It's a disgrace and it's bad for the industry.

• 1:01:29Speaker 05

  I would like to buy.

• 1:01:29Patrick Bet-David?

  Is that really happening?

• 1:01:30Speaker 02

  So the, the fat funny guy on the screen is actually a friend of mine. When he said he was in US, he was at my house. But let me, let me, let me tell you how it all works. Think about a store. You're a dealer, you have a Rolex line, right? And you're a business, right? You get allocated only so many pieces. Now you go online and you say, the number one most popular watch in the world is the Rolex Daytona. It's the most known watch, right? And it's also the one that consistently has traded over its MSRP dating back to when I started. When the MSRP was 5,400, right? Today it's 16,000. I'm a dealer. I'm getting allocated this watch, but along with it, I'm also taking 20, 30, 40 other pieces that don't sell over list. In fact, I have to discount them. They're also hard to sell. And I see a Roman out there selling, at the peak of the market during COVID, the Rolex stainless steel Daytona traded at $60,000.

• 1:02:15Speaker 02

  Client calls me up and he goes, Roman, they're giving me a Daytona at retail. I said, okay, but they want me to buy a pair of earrings with it for $35,000. Do the math. Thirty-five plus sixteen, we're at that $55,000 price range. What do you think of his earrings? What are they really worth? Because I'm gonna dump them.

• 1:02:32Patrick Bet-David?

  Seven grand.

• 1:02:33Speaker 02

  Seven hundred, I told him I can sell him that pair of earrings for. If you did the math, at the time that Rolex traded at about $50,000. You take the earrings, they're not doing anything illegal where Rolex can't penalize them for it. But at the same token, they're getting all the money. You know why? Because all that dealer has to do is pick up the phone and say, yo, Roman, I got five Daytonas for you. What are you paying? Oh, market is 55, here's 50 grand apiece. It's that simple.

• 1:02:56Patrick Bet-David?

  Wow.

• 1:02:57Speaker 02

  What happens with the Ferraris? What happens in car dealerships? You know, when these things are reselling for it? What, you mentioned the SP3, what's the market? Five million on it?

• 1:03:05Patrick Bet-David?

  Four or five million dollars.

• 1:03:06Speaker 02

  Exactly.

• 1:03:07Patrick Bet-David?

  Yeah.

• 1:03:07Speaker 02

  But if I, if I, now I got a guy that's sitting there making a $65,000 salary as a salesperson. And his job is to stand there all day, say, no, you can't have this Rolex. Let me put you on a list. I walk in there, say, hey, seven grand under the table. What is he gonna do? It's real people, it's real businesses. It's not, it's, it's just reality.

• 1:03:27Patrick Bet-David?

  Yeah, I mean, at the end of the day, when you think about the business side of it, it is business. I mean, you got, you gotta find a way to, to, but again, it goes back to it. When I was in Monaco and I'm driving around and I'm talking to everybody about watches, what should I buy? Well, you should buy this. And I'm trying to test everybody what they're gonna be saying. There's a, there's a whole street in Monaco that's all watches. You go from one to the other guy to the other guy to the, and everyone's talking shit about each other, but they're all friends. It's an interesting, you should buy from me, he's a good guy, we should buy from me. Here's what I can do for you.

• 1:03:54Speaker 02

  Have you been to 47th Street in New York?

• 1:03:56Patrick Bet-David?

  Uh, similar.

• 1:03:57Speaker 02

  Do you have bulletproof underwear? Put them on.

• 1:03:59Patrick Bet-David?

  Is that what it is? Want to go there? No, but, but, but it's an interesting thing when it comes down to these watches. By the way, I saw, I saw an article, Rob, if you can go to this. And the president's timepieces, I don't know if you've seen this or not. Uh, we have the story right here. So if you can zoom out presidential timepiece, look at president's luxury watches. Okay, and you get to judge to see how their taste in their watches is. Keep going. Uh, go lower when it shows the pictures, Rob, go a little bit lower, lower. Okay, there we go. So Joe Biden has, what is that Rolex right there? It's a Datejust 41.

• 1:04:33Speaker 02

  It's a Datejust 41 Jubilee.

• 1:04:35Patrick Bet-David?

  Okay, go to the next one, Rob.

• 1:04:37Speaker 02

  Omega Speedmaster.

• 1:04:39Patrick Bet-David?

  Okay, so far, what do you think about its taste for watches?

• 1:04:41Speaker 02

  I think it's very basic and plain, and these are core pieces of anyone's collection that's into watches, right? And they're also, and they're also very subdued, and they're, they're modest.

• 1:04:49Patrick Bet-David?

  Makes sense, it fits him.

• 1:04:50Speaker 02

  Speedy is an iconic watch, another iconic watch from Omega.

• 1:04:53Patrick Bet-David?

  This is an iconic watch?

• 1:04:54Speaker 02

  Seamaster and Speedmaster, two of the most iconic watches from Omega, not expensive at all.

• 1:04:59Patrick Bet-David?

  But it's something that you ought to have in your collection.

• 1:05:01Speaker 02

  Not that one, the Speedmaster above.

• 1:05:03Patrick Bet-David?

  The one above it, can you go back above, Rob?

• 1:05:04Speaker 02

  Yeah, that one.

• 1:05:05Patrick Bet-David?

  That one right there, should have it in your collection, is what you're saying.

• 1:05:07Speaker 02

  You can buy them on a secondary pre-owned, anywhere from two to four thousand dollars.

• 1:05:11Patrick Bet-David?

  Oh, really?

• 1:05:12Speaker 02

  Yeah.

• 1:05:12Patrick Bet-David?

  Okay, let's go to the next one, Rob. Keep going, how about this one?

• 1:05:16Speaker 02

  Seiko, it's a three hundred dollar Seiko, again, this is, this is part of staying humble, this is probably something that was given to him by somebody, carries some sort of...

• 1:05:23Patrick Bet-David?

  That meant.

• 1:05:24Speaker 02

  Mind you, this is the watch that almost killed the watch industry back in nineteen sixty-nine, when they invented the quartz watch, you know that, right?

• 1:05:30Patrick Bet-David?

  Tell me about it.

• 1:05:30Speaker 02

  Well, so you had the quartz crisis in nineteen sixty-nine, the Japanese came out with the Seiko, and remember, when it comes to watches, while people think that the main thing is aesthetics, innovation, and things like that, the number one thing every watchmaker chases is accuracy, that's why you have all these tourbillon watches, triple tourbillons, and so on and so forth, right? That little thing, almost single-handedly killed the entire Swiss watch industry, oddly enough, what saved the Swiss watch industry, you're not gonna believe what it was, it was the Swatch watch. Because the gentleman in charge at the time said, you know what, we're gonna fight fire with fire, and we're gonna create a Swiss quartz watch called the Swatch watch, and all the proceeds went back into the kitty, and they saved brands. If it wasn't for that, it wouldn't be brands like Blancpain, Glashutte, and many, many, and Brigade, and many, many others, it would have died.

• 1:06:12Patrick Bet-David?

  Interesting, I did not know that story.

• 1:06:14Speaker 02

  And now imagine, that's like getting, that's like, remember, did you have a BlackBerry before?

• 1:06:18Patrick Bet-David?

  Yes, of course.

• 1:06:19Speaker 02

  And I swore by my BlackBerry, and I would never get rid of my BlackBerry, BM Messenger and all that stuff, and then the iPhone came out.

• 1:06:24Patrick Bet-David?

  Yep.

• 1:06:24Speaker 02

  And what happened to the BlackBerry?

• 1:06:26Patrick Bet-David?

  Game over. They made a movie about it, I don't know if you've seen it.

• 1:06:28Speaker 02

  I didn't see the movie, yeah.

• 1:06:29Patrick Bet-David?

  Interesting, okay, how about, well, this one's...

• 1:06:33Speaker 02

  This is the one that said it was gonna kill off the Swiss watch industry when they came out in two thousand, what, four, I think?

• 1:06:37Patrick Bet-David?

  Did it at all impacted, at all?

• 1:06:39Speaker 02

  Zero.

• 1:06:40Patrick Bet-David?

  Zero?

• 1:06:40Speaker 02

  Zero impact.

• 1:06:41Patrick Bet-David?

  And they said it was going to?

• 1:06:42Speaker 02

  Oh, yeah, they thought this was gonna be the next quartz crisis, I bought one of them, I didn't get rid of my fancy watch, I had it on the other wrist, and then I realized... I have enough notifications in here. Do I really need my wrist buzzing now? I'm good. And I took it off two weeks later.

• 1:06:56Patrick Bet-David?

  You don't wear it anymore.

• 1:06:56Speaker 02

  I don't wear it.

• 1:06:56Patrick Bet-David?

  I bought one. I wore it for about two weeks and I never wore it again.

• 1:07:00Speaker 02

  Same, exactly.

• 1:07:01Patrick Bet-David?

  Ever.

• 1:07:01Speaker 02

  Two weeks.

• 1:07:01Patrick Bet-David?

  Yeah, I couldn't do it. And by the way, my son, it's somewhere in the, I don't even wear it anymore.

• 1:07:05Speaker 02

  Did you see that comedian that told the joke about the whoop?

• 1:07:07Patrick Bet-David?

  No.

• 1:07:08Speaker 02

  Uh, his name is Modi. Funny ass guy. He goes, he goes, these young people, I don't understand. I'm on a beach, I see this guy and he goes, I'm like, what is, what time is it? He goes like, oh, my watch doesn't tell time. He's like, well, what is it? It's a whoop. Find him. There it is. That's it. Oh my God, that's the most hilarious thing ever.

• 1:07:26Speaker 06

  It's more generational difference. Little things. I, I wear a watch. Oh. I always wear, since I was 13, I've worn a watch. Millennials don't wear watches. It's true. Apple Watch's not a watch, sweetheart. Checking your emails on your wrist is a cry for help. That's not a watch.

• 1:07:46Speaker 02

  Oh, wait, wait.

• 1:07:48Speaker 06

  The summer begins, we're on the beach, I see Leo with a black watch. I go, Leo, what time is it? He says, it doesn't tell you the time.

• 1:07:58Speaker 06

  Your watch doesn't tell you the time? It's not a watch. It's a whoop.

• 1:08:03Speaker 06

  A whoop? What does it tell you? He says, it tells you how you're doing.

• 1:08:09Speaker 06

  I said, well, I look at my wrist, I see a gold Rolex. I know I'm doing good.

• 1:08:15Speaker 00

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• 1:09:18Patrick Bet-David?

  I don't know what time it is.

• 1:09:23Patrick Bet-David?

  Good for him. You were saying?

• 1:09:24Speaker 02

  Yeah, so.

• 1:09:25Patrick Bet-David?

  So you had it for two weeks and you got rid of it as well? Same here. Let's go to the next one. So that's Joe Biden.

• 1:09:31Patrick Bet-David?

  Here's Trump.

• 1:09:34Speaker 02

  Vacheron Constantin. I mean, this is most likely, again, something that was, that was actually probably given to him. I would imagine this is something, because this looks like, they did a remake of this watch, right? And this looks like the original watch from 1968. This must have been passed down to him from someone. Every so often, they'll do a remake. They'll take historical watches, they call it the history collection. They're dubbing this to be the historique. I think this is actually one of the original ones from 1968.

• 1:10:01Patrick Bet-David?

  Is this a popular watch or not necessarily?

• 1:10:04Speaker 02

  It's not.

• 1:10:04Patrick Bet-David?

  Okay, go to the next one. How about this one?

• 1:10:07Speaker 02

  Patek Philippe Ellipse. Now, the ellipse, and this is a smaller version of it, this is what was known as the old man's watch. This was the Patek's answer to the big chunky gold watch to show off kind of thing. Never really took off, was never popular. In fact, there's an ellipse out there, with the exception of a few rare ones, that sells way below its original price.

• 1:10:27Patrick Bet-David?

  What does it sell for today if I wanted to get one?

• 1:10:29Speaker 02

  If I wanted to buy that, if I was to buy that today, they put a market price of 16,000 on it, I would be a buyer below 10.

• 1:10:36Patrick Bet-David?

  You gotta be kidding me.

• 1:10:37Speaker 02

  Yeah.

• 1:10:37Patrick Bet-David?

  Wow. Go to the next one, Rob.

• 1:10:40Speaker 02

  Well, the president.

• 1:10:42Patrick Bet-David?

  They date.

• 1:10:42Speaker 02

  Okay, so this is an old, this is an old dated, it's one, uh, one eight zero three eight, right? And you have quick set dates and you have, not quick set, we have to turn the thing, right? So a non-quick set today, wholesale price, depending on condition, that bracelet looks beat to shit, depending on condition, it's anywhere, wholesale price to buy anywhere from ten to twelve thousand dollars, sell for around fifteen, sixteen, I would pay Donald Trump a million dollars for his.

• 1:11:07Patrick Bet-David?

  For his?

• 1:11:08Speaker 02

  Yes.

• 1:11:08Patrick Bet-David?

  That's a different story.

• 1:11:09Speaker 02

  Yes.

• 1:11:09Patrick Bet-David?

  Keep going, Rob. Keep going, Rob. Who do we have next? I think this is Obama now. Let's see what he's got.

• 1:11:16Speaker 02

  You're gray. I mean, Obama historically worn what we like to call fashion watches, right? These are well-made watches, they're not made to the highest standards, so some of the stuff was made in China, like movements, a lot of them are quartz, and they're basically cheap, good-looking watches, hence they're called fashion watches. So this is not a significant watch.

• 1:11:32Patrick Bet-David?

  Means nothing. It just looks good, you buy it, ninety. Let's go, let's see the next one.

• 1:11:37Speaker 02

  Now, this is a Rolex Cellini, these are no longer made. This is the Rolex's stepchild, as I like to call it. So when people say, are there such things as unpopular Rolexes? This would be it. This is their way to show.

• 1:11:47Patrick Bet-David?

  Unpopular Rolex.

• 1:11:48Speaker 02

  Remember, Rolex was always what? A tool watch, right? Original, back, back fifty years ago, sixty years, this was a tool watch. You needed to tell the time, you needed to measure somebody's pulse, right? That's what they used them, they used it for a tool, right? They're also waterproof, that's how the whole thing started with the waste of case. This was their attempt at doing a dressier Rolex, because every single Rolex is, is sporty, right?

• 1:12:10Patrick Bet-David?

  And it flopped, it didn't work.

• 1:12:11Speaker 02

  So this, this was a collaboration with Cellini for many, many years, and now they actually replaced it with a nineteen oh eight or something, they called a new model, looks very similar. When you want a Rolex, that's not a Rolex you flex in, and that's why it's not popular.

• 1:12:23Patrick Bet-David?

  Interesting.

• 1:12:24Speaker 02

  Because you can tell a Rolex from a move away, would you be able to tell that's a Rolex?

• 1:12:27Patrick Bet-David?

  No, not at all.

• 1:12:27Speaker 02

  Exactly.

• 1:12:28Patrick Bet-David?

  Not at all. Keep going?

• 1:12:31Patrick Bet-David?

  Obviously that's a forty dollar time watch. He's probably trying to win an election.

• 1:12:36Speaker 02

  I don't, uh, listen, this is, and then mind you, this was a man that spent twenty-five to forty thousand dollars on cowboy boots. But yet, he spent, what?

• 1:12:43Patrick Bet-David?

  Forty bucks on a watch.

• 1:12:44Speaker 02

  Forty bucks on a watch.

• 1:12:45Patrick Bet-David?

  Wow, twenty-five to forty.

• 1:12:47Speaker 02

  But that's a flex, think about it, that's a reverse flex. Obviously comes from a well-off family, right?

• 1:12:52Patrick Bet-David?

  Of course.

• 1:12:52Speaker 02

  It's got a ton of money, wears twenty-five thousand dollar cowboy boots. But, putting on a twenty dollar watch with it, it's, there's, there's a bit of a flex to that, I feel like.

• 1:13:00Patrick Bet-David?

  It's, it's an indirect flex.

• 1:13:01Speaker 02

  Exactly.

• 1:13:02Patrick Bet-David?

  Keep going, Rob. Keep going, Rob. Clinton.

• 1:13:05Speaker 02

  So, Langen Zuna, or Langen Sons, uh, Richard Lake Purle-Marie manual wine. Uh, so, market price, eighty thousand dollars, no it's not. Probably picked this watch up in the low twenties, low to high twenties. Uh, again, original retail on this watch was somewhere around the forty thousand dollar price range and you'll find them on a secondary anywhere from thirty to forty off.

• 1:13:24Patrick Bet-David?

  Wow.

• 1:13:25Speaker 02

  I don't know who came up with eighty grand.

• 1:13:27Patrick Bet-David?

  Well, he overpaid for it, Bill, come on, Bill.

• 1:13:28Speaker 02

  I don't think he paid for it.

• 1:13:29Patrick Bet-David?

  Should have had Hillary negotiate it.

• 1:13:30Speaker 02

  I don't, I don't think he paid for it.

• 1:13:31Patrick Bet-David?

  If Hillary wouldn't negotiate, he wouldn't pay nothing, but keep going, let's go to the next one, Rob.

• 1:13:34Speaker 02

  Would the salesperson still be around?

• 1:13:36Patrick Bet-David?

  I don't know about that. I don't know about that. How about this?

• 1:13:39Speaker 02

  Uh, so, Jaeger LeCoultre master compressor, uh, this was a, a diving watch, so, Jaeger LeCoultre, or Jaeger as we call it in English, uh, they were, they're known as a watchmaker's watchmaker. Their watches are very reasonably priced when it comes to their retail price, because they make all their movements, a lot of the companies in Switzerland, they use the factories to create movements for them. Uh, and they were always on, they were big on the Navy SEAL kick and diver watches. This is part of the master, um, master.

• 1:14:04Patrick Bet-David?

  Who would know what watch this is? Like, who, in what space would people know what watch this is?

• 1:14:10Speaker 02

  With watch guys, probably seven out of ten people would know. It has a distinctive profile, if you see the two big crowns, see the red things?

• 1:14:16Patrick Bet-David?

  I see the two red, yeah.

• 1:14:17Speaker 02

  That means, that means they're open, so like, you have to actually close them so you can go diving. So, and market price on this watch today is, probably on the secondary, probably maybe five to six thousand dollars.

• 1:14:25Patrick Bet-David?

  Would, would military guys own this, or no? It's got nothing, okay, got it.

• 1:14:28Speaker 02

  Yeah, especially, especially Navy guys, or SEALs.

• 1:14:29Patrick Bet-David?

  Got it, keep going, Rob.

• 1:14:32Patrick Bet-David?

  This is Reagan Rolex.

• 1:14:33Speaker 02

  Okay, so a plain old, a plain old day just no date. This is the cheapest Rolex that one could buy at the time. This is still the cheapest Rolex one can buy today's market price. Again, not Reagan's on a watch like this, where anywhere from two to $4,000. This is that beginner Rolex where you don't have a big bank that people call us for. Say, hey, just let me get an old day just.

• 1:14:52Patrick Bet-David?

  Got it.

• 1:14:52Speaker 02

  That was the watch I first owned. I paid a thousand bucks.

• 1:14:55Patrick Bet-David?

  Yeah, really?

• 1:14:55Speaker 02

  Not that very one.

• 1:14:56Patrick Bet-David?

  I know, but you own one, that's cool. So here's, here's where it gets interesting with John F. Kennedy's. So he's got this one.

• 1:15:03Patrick Bet-David?

  Are you familiar with this?

• 1:15:04Speaker 02

  Yeah, it's an old Omega from the 60s. Most of them look like that.

• 1:15:07Patrick Bet-David?

  For $350,000 in 05? Does that make sense to be that expensive?

• 1:15:11Speaker 02

  Well, that's because of Kennedy.

• 1:15:13Patrick Bet-David?

  Got it.

• 1:15:13Speaker 02

  Jackie Kennedy. You know the sneaker scandal that I had? People offered me 50 grand for those sneakers. I paid nine. I mean, they're still in my office. I didn't sell them.

• 1:15:20Patrick Bet-David?

  The Trump sneakers?

• 1:15:21Speaker 02

  The Trump sneakers, the ones that he signed and they created that whole, I called the sneaker gate. I was dubbed the Russian oligarch and all that stuff. So, so those sneakers to me are priceless and this is a Kennedy piece. And why wouldn't you want that in your Omega?

• 1:15:32Patrick Bet-David?

  Yeah, I would mind it, keep going, Lord.

• 1:15:33Speaker 02

  If it wasn't, if it wasn't his watch, I'd probably pay 1,500 bucks for it.

• 1:15:37Patrick Bet-David?

  Are you familiar with this year?

• 1:15:38Speaker 02

  Absolutely.

• 1:15:39Patrick Bet-David?

  Tell us about this watch here.

• 1:15:41Speaker 02

  So again, I, there's another Marilyn Monroe watch that was auctioned off. This is the Rolex. They also auctioned off a Cartier, a small little tank Cartier. After that auction and the news broke, I sold 30 of them to women because they wanted the same look and feel. And those watches traded for about two grand. I think the, I think the Cartier fetched something also like 300 some thousand.

• 1:16:04Patrick Bet-David?

  Is it true that this, this was a gift from Marilyn Monroe to Jack?

• 1:16:08Speaker 02

  Who knows?

• 1:16:09Patrick Bet-David?

  By the way, that's May 29th of 62. She died two months later.

• 1:16:14Speaker 02

  Yeah.

• 1:16:15Patrick Bet-David?

  Maybe he didn't like the watch.

• 1:16:17Speaker 02

  Well, maybe this, the conspiracy theories are true.

• 1:16:19Patrick Bet-David?

  Yeah, maybe it was like, hey, why would you write something like that and give it to me? Now my wife knows and she's going to go spend some time with Onassis and. Uh, yeah. By the way, is there that watch? Like, has that a watch ever shown up in an auction or anything? Or not really?

• 1:16:33Speaker 02

  No.

• 1:16:33Patrick Bet-David?

  Okay, got it. Rob, let's see the next one here. What does it say? What would you do, Rob, right there?

• 1:16:38Speaker 02

  I was just gonna copy and paste and see if I can find the watch.

• 1:16:40Patrick Bet-David?

  Can you do that? Let's see if that watch is ever sold. Marilyn Monroe watch, so the Rolex watch given Jonathan Monroe for something. Although Kennedy never wore this, and it's widely accepted that Lyndon Johnson is the president to give the timepiece its famous nickname. Marilyn Monroe made history with Rolex. What does that mean? Lyndon Johnson is the president to give the timepiece its famous nickname? What is the nickname, Rob? And since the Rolex given the president, it was officially the first date. Although Kennedy never wore this, it's why this one? The date gives ability to tell it's her first watch? Yeah, but I'm trying to see if there's any link between it or any credibility behind the story that she gave it to.

• 1:17:20Speaker 02

  A lot of it's gonna be hearsay.

• 1:17:23Patrick Bet-David?

  Monroe gift made it to our radar, but that wasn't the only president in the White House. There were many, a handful of other presidents with an expensive watch. The original date date, also known as the president, came in 18k. Interesting, 18k.

• 1:17:37Speaker 02

  So the nickname they're referring to is that they nicknamed the watch the president? So the watch that you're wearing, the nickname is the president?

• 1:17:42Patrick Bet-David?

  Got it.

• 1:17:43Speaker 02

  That's what you asked.

• 1:17:44Patrick Bet-David?

  So I'm asking to see if she actually gave that watch to him. Reporter JFK told his aide to get rid of this watch and the note, and it successfully stayed out of the public eye for more than four decades before hitting the auction in 05 and selling for 120.

• 1:17:57Speaker 02

  It's worth a lot more than that today.

• 1:17:59Patrick Bet-David?

  Oh, I would be, wouldn't be surprised.

• 1:18:02Speaker 02

  A lot more.

• 1:18:03Patrick Bet-David?

  Wow, so there is some credibility behind this watch.

• 1:18:06Speaker 02

  Yeah.

• 1:18:06Patrick Bet-David?

  So go back to the list, Rob. I think we got a couple more left before we wrap up on that here. So this is Eisenhower, no, this is FDR. Do you recognize that watch or that's just a?

• 1:18:16Speaker 02

  It's a Tiffany and Co. watch. So Tiffany and Co., again, humongous retailer. You have to remember that while Rolex is king today, that wasn't the case many, many years ago, so you had.

• 1:18:25Patrick Bet-David?

  They were king back then?

• 1:18:26Speaker 02

  Well, you had a lot of retailers that were kings, right? And that's why you have Tiffany stamp paddocks and Tiffany stamp Rolex's that they back to those times and they sell for stupid money. There's very little of them, but Tiffany and Co was a big name and guess what? They, everybody wanted a piece of the pond, just like today. They wanted to jump into, into the game. They had a good enough name to sell it. Tomorrow you decide to make a PBD watch, you have enough of a following, well you'll sell some watches, right? It's the same concept.

• 1:18:50Patrick Bet-David?

  Well, Trump made a watch. Isn't Trump selling his watches for like a hundred K or something like that?

• 1:18:54Speaker 02

  Hundred thousand dollars.

• 1:18:55Patrick Bet-David?

  What do you think about that?

• 1:18:56Speaker 02

  Uh, horologically, uh, not great, but from a, uh, from a perspective of the man and the following that he has, he will sell a hundred and forty seven of those watches for a hundred grand. There will be people that will buy because of him. There'll be people will buy it because they want to show him that they have the watch. And that they bought his watch, right? There are many facets to this. From a horological perspective, no, not a horological masterpiece, but from a perspective of, A, I'm Donald Trump, there's, his gold watch for a hundred grand. Trust me, there will be a hundred and forty seven people out there that will buy it.

• 1:19:29Patrick Bet-David?

  You think i- i- long-term, this will have any kind of value?

• 1:19:33Speaker 02

  Uh, most, most likely not due to the fact that they're making a hundred and forty seven of them.

• 1:19:38Patrick Bet-David?

  Yeah, so gold sneakers by the way.

• 1:19:40Speaker 02

  If they made three of them.

• 1:19:40Patrick Bet-David?

  How many, how many did they make?

• 1:19:42Speaker 02

  A hundred and forty seven.

• 1:19:43Patrick Bet-David?

  So fourteen point seven million dollars.

• 1:19:45Speaker 02

  Uh, give or take.

• 1:19:46Patrick Bet-David?

  Is there anything about the watch that makes it unique?

• 1:19:50Speaker 02

  No.

• 1:19:51Patrick Bet-David?

  And you're a fan of this guy?

• 1:19:53Speaker 02

  Yes. I'm a fan of the man. I'm not a fan of the watch.

• 1:19:56Patrick Bet-David?

  Okay, listen, even more respect, the fact that you, now, to be fair, you bought his sneakers.

• 1:20:01Speaker 02

  Yes.

• 1:20:01Patrick Bet-David?

  And what'd you pay for it?

• 1:20:02Speaker 02

  Nine grand.

• 1:20:03Patrick Bet-David?

  You paid nine grand for the sneakers?

• 1:20:04Speaker 02

  Yes.

• 1:20:06Patrick Bet-David?

  And I heard you wore it the day he won or the day after.

• 1:20:08Speaker 02

  I sent you a text, remember?

• 1:20:09Patrick Bet-David?

  Yeah, yeah, I remember that. What, what, is that you?

• 1:20:11Speaker 02

  That's me.

• 1:20:12Patrick Bet-David?

  There you go.

• 1:20:13Speaker 02

  This is what, The Times or Philadelphia Inquirer? I don't know. I've, I had people as far as Japan flying to do this interview. And my, my, my phone threw up at the office. I was on Peter's Morgan. I was on every news outlet under the sun. I'm like, guys, I bought a, I'm a sneaker head. I collect sneakers. I have over a hundred pairs of sneakers. I figured in my mind, these are worth at least ten grand. You got the president, you got the gold sneakers, they're friends and family, only fifty made, only one signed. How can I go wrong? I got offered twelve and a half thousand a minute after I bought them.

• 1:20:37Patrick Bet-David?

  Is yours signed?

• 1:20:38Speaker 02

  Yes. That's the whole point.

• 1:20:39Patrick Bet-David?

  You, you, you have the only signed one?

• 1:20:41Speaker 02

  There were two pairs that he signed out of the fifty. So the way sneakers releases, they do a friend. And family run, right? The regular run was a thousand pairs. Then they do a friends and family. Those are the ones they usually give to people and they kind of like the Rolex I showed you earlier, right? So this was a friends and family pair. Now, regular sneakers, forget Trump sneakers. Any other sneaker that has friends and family trays usually five to 10 X. It's regular pair because they're numbered and it literally say friends and family on the box. That's what this was. On top of that, it was signed by him. So I said sneakers are worth at least 10 grand. I walk back to my son who's in the sneaker business with dad, you out of your mind? How much did you pay? Two minutes later, a guy walks up and says, I'll give you 12 and a half. My son was like, okay, maybe it wasn't.

• 1:21:21Patrick Bet-David?

  That's funny.

• 1:21:22Speaker 02

  And then when the story broke and I was dubbed the Russian oligarch, people I the highest offer I had on it was $45,000.

• 1:21:27Patrick Bet-David?

  For the for the shoe, you sold or no?

• 1:21:30Speaker 02

  It's in my office front and center.

• 1:21:31Patrick Bet-David?

  You won't sell.

• 1:21:31Speaker 02

  It's listen, because of that, I got to meet him, right? I made this, I made the video where I talked about how the world went crazy on me and dubbing an oligarch and this, that and the other. One of the guys that follows me on my YouTube channel, who's a big watch guy and a fan of my channel, showed it to the president. He showed me my reaction video to people dubbing me a Russian oligarch. I'm like, guys, I'm an army veteran. I was born in Ukraine and get out of here, right? I was I was laundering money to Vladimir Putin by buying these sneakers, you understand, right?

• 1:21:57Patrick Bet-David?

  Yeah.

• 1:21:58Speaker 02

  And guess what? He showed him the videos like, I want to meet this guy. I get a phone call, I get on the plane, they say, you know, I'm at a golf club having lunch with the guy for two hours. It's great.

• 1:22:05Patrick Bet-David?

  How was it?

• 1:22:06Speaker 02

  It was amazing. It was it confirmed my beliefs of why I wanted to vote for him is the fact that he's not a politician. He's a real human being with emotions and he is exactly the way he is in person. It was a very casual conversation for two hours. We talked about business, politics, 15 minutes, he's talking to my son about sneakers and what he thinks. I'm like, here's the president of the United States, 78 years old, talking to my 20 year old and asking him for his opinion. I'm just like, right? And and it was just, it was just an amazing experience. You feel a powerful presence in a room, yet you don't feel like you're being talked down to, right?

• 1:22:43Speaker 02

  The one thing that did it for me that just told me that's really a real human being. None of this is an act is his phone rings, picks up. His voice changes, tone of voice changes. I knew it had to be Melania because when my wife calls and I'm in the middle of the big business meeting, I'm Mr. Big Badass CEO. And then my wife calls like, oh, honey. It's literally like it was just real and it confirmed that that's the guy I wanted to vote for.

• 1:23:07Patrick Bet-David?

  Very cool. I love that. And you said you're from Ukraine.

• 1:23:12Speaker 02

  Yeah.

• 1:23:12Patrick Bet-David?

  So.

• 1:23:12Speaker 02

  Soviet Union originally.

• 1:23:14Patrick Bet-David?

  I get it. This is why the war is going on. Your thoughts on Zelensky or Putin? How do you feel about those guys?

• 1:23:20Speaker 02

  So one of the biggest heat that I caught after all this, how can you support Trump? And how can you?

• 1:23:25Patrick Bet-David?

  Right.

• 1:23:25Speaker 02

  You know, the, you know, he wants to cut off aid to Ukraine. I'm like idiots. The war will stop the minute he walks into the office. He will be the one to stop the war. There's too much money being made on both sides. And I know how corrupt Ukraine is. I know how corrupt a lot of the former Soviet republics, which now countries are still are. It takes decades upon decades to get to a system where it's somewhat reasonable in terms of a government that is not corrupt. So, and I know it firsthand. If you want something done in Ukraine, you can pay people off still, right?

• 1:23:57Patrick Bet-David?

  Even all the way at the top?

• 1:23:58Speaker 02

  Even all the way at the top. I cannot deny or confirm, right? Yeah, at that point, I'm not, I'm not at that level. But listen, I have a nephew whom I got out of the minute that the war started. And I've visited him numerous times and he was doing extremely well. He was in the restaurant business, had a few restaurants, kind of like a Starbucks. They call it Mary Berry over there, right? And guess what? Zoning this, go try to pay off a zoning officer in the United States. See what happens to you, right? Over there, he goes, what's the big deal zoning? Oh, there's a playground 20, 20 feet away. Here's, here's a couple of hundred bucks. Goodbye. And you get anything done. That's on a very low level. Imagine what happens on a high level.

• 1:24:35Patrick Bet-David?

  Yeah. Do you think Zelensky, have you ever tried selling him a watch? Has there ever been a?

• 1:24:40Speaker 02

  No, no, I don't have any direct contact.

• 1:24:41Patrick Bet-David?

  Any chance of selling Putin a watch?

• 1:24:44Speaker 02

  Putin wears a Blancpain Aquilon.

• 1:24:46Patrick Bet-David?

  Yeah, I saw these, these are, these are the watches he has, right? This.

• 1:24:49Speaker 02

  Yeah, so.

• 1:24:50Patrick Bet-David?

  What do you, what do you say about his watch?

• 1:24:51Speaker 02

  So I don't know how true this is. I don't know if he actually has those watches. The watch he was mostly seen wearing was a Blancpain Aquilon, which is about a $7,000, $8,000 watch, right? So that one, there you go. The other ones, I don't know where they got that information.

• 1:25:07Patrick Bet-David?

  Gorlov.

• 1:25:09Patrick Bet-David?

  Go a little lower, keep going.

• 1:25:10Speaker 02

  Yeah, so the Paddock Perpetual 5040, about a $45,000 watch.

• 1:25:14Patrick Bet-David?

  It's a nice watch.

• 1:25:15Speaker 02

  It is, it is. The FPJorn, this is a watch that trades at like triple its retail value. This is the entry level Jorn, Carnometry Blue they call it. It's blue and it's made out of tantalum, really cool watch.

• 1:25:25Patrick Bet-David?

  How much is that watch?

• 1:25:26Speaker 02

  Today's market is $70,000, $75,000.

• 1:25:28Patrick Bet-David?

  Not worth buying it.

• 1:25:29Speaker 02

  It is.

• 1:25:30Patrick Bet-David?

  It is worth buying.

• 1:25:31Speaker 02

  FPJorn, you know, one of the, here, this is one worth buying. This is the cream of the crop. He's known for his terbien. One, his second, ever second made terbien just fetched and set a record. It sold for, pull up Jorn record, $8.1 million it just sold for. It's the highest record for an independent watchmaker. That watch, that watch is around $550,000.

• 1:25:52Patrick Bet-David?

  This?

• 1:25:53Speaker 02

  Yes. That's the Jorn to have.

• 1:25:55Speaker 00

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• 1:26:56Patrick Bet-David?

  And this is going to retain its value.

• 1:26:58Speaker 02

  This is going to go up in value, actually.

• 1:26:59Patrick Bet-David?

  This is going to go up in value.

• 1:27:00Speaker 02

  So if you ask me for an investment piece outside of these vintage pieces, this would be another one I would want you to buy.

• 1:27:07Patrick Bet-David?

  I can't fit this one, but it's gorgeous.

• 1:27:08Speaker 02

  Open it all up.

• 1:27:10Patrick Bet-David?

  Ah, you gotta.

• 1:27:11Speaker 02

  Cool, don't be afraid.

• 1:27:13Patrick Bet-David?

  Okay.

• 1:27:13Speaker 02

  There you go.

• 1:27:15Patrick Bet-David?

  Yeah, this one's gorgeous.

• 1:27:17Speaker 02

  And, and this, that, that club is worth an paddock. You want to try to get an allocation for FPJorn. There's a circle and an inner circle and you have to literally give your left kindy to be allocated on FPJorn, which is why pretty much all of them trade on the secondary two to three to four X.

• 1:27:31Patrick Bet-David?

  This is gorgeous. This is absurd. By the way, this actually goes with this outfit.

• 1:27:35Speaker 02

  Yeah. I knew, I knew.

• 1:27:37Patrick Bet-David?

  Watch, watch, buy it live on.

• 1:27:38Speaker 02

  I knew, I knew what you were gonna wear.

• 1:27:39Patrick Bet-David?

  Can you imagine? Alright, so I'm gonna make you an offer right now. Eight point three million dollars.

• 1:27:44Speaker 02

  That's the watch. That was the second watch he's ever made.

• 1:27:46Patrick Bet-David?

  Who bought it?

• 1:27:47Speaker 02

  Uh, I don't know. There were, I know there were two collectors. One came in from China and I think the other one was from Japan. Correct me if I'm wrong, there was a big bidding war. And I know that it set a record. This is the highest ever number paid for an independent watchmaker. I mean, not somebody who's part of a group who's around 20 years old. And Jorn, Francois Paul Jorn, he is a beast when it comes to this stuff. So, as I said, if because of the conversation we had earlier when we first met on the phone and, you know, you asked me about investment type of watches. I wanted to show you something that's a little bit more diversified. It doesn't necessarily have to be something that's 50 years old. It could be something that's modern that you simply cannot get. The horology is there, the popularity is there, and the auction results are there.

• 1:28:29Patrick Bet-David?

  Which, which high-end watch gets the most criticism? Most hate? Like, it's like, oh, those guys, you can just paint this. They're called.

• 1:28:37Speaker 02

  Hublot.

• 1:28:38Patrick Bet-David?

  Really? Why Hublot?

• 1:28:40Speaker 02

  Uh, because of my little fat funny friend that you just saw on the screen. Because he has a, a, a following on YouTube as well. I think my YouTube is a half a million followers. He's like at a million and a half, right? He's extremely funny. And he is somebody that started talking shit on Hublot a little while back.

• 1:28:56Patrick Bet-David?

  Did it actually work? Like, did he take a hit?

• 1:28:59Speaker 02

  No.

• 1:28:59Patrick Bet-David?

  Nothing.

• 1:29:00Speaker 02

  They just build a third. I was just in Switzerland. I was visiting some of the factories I do business with and I drove by them. They started with one five-story building, then two, now they have three. Trust me, they're thriving and they're smart because they support soccer.

• 1:29:11Patrick Bet-David?

  Do you have Hublot yourself?

• 1:29:12Speaker 02

  Of course.

• 1:29:13Patrick Bet-David?

  You like Hublot?

• 1:29:13Speaker 02

  Of course, I love Hublot.

• 1:29:14Patrick Bet-David?

  Okay, how about Jacob and Company?

• 1:29:15Speaker 02

  Absolutely love them, for two reasons.

• 1:29:17Patrick Bet-David?

  Tell me.

• 1:29:17Speaker 02

  Number one, you know the five-time zone, the iconic one, who was it? It was Drake that just wore two of them, remember? It was all over the thing. That was a watch that was, the movement was made in China, the case was made in China. It was a cheaply made watch with a diamond bezel that had a carat and a half of diamonds and a colorful dial. And it worked off of a battery.

• 1:29:35Patrick Bet-David?

  Which one?

• 1:29:36Speaker 02

  No, not that. Put in Drake, five times on, right there. You can see it.

• 1:29:41Patrick Bet-David?

  Second one?

• 1:29:41Speaker 02

  Down? Yeah, that's it. Right? The original is actually down on the bottom. See that, the colorful one? That one. Right? So, the very first version he made of it, and that was a watch that was, I don't know, originally like six to seven thousand dollars. This is Jacob the jeweler, who was in a booth, who started in the booth that was the size of just this part of the table you're sitting on, on Forty-seventh Street and the corner of Fifth and Forty-seven, or Sixth and Forty-seventh, right? He sold a lot of hip-hop jewelry, he sold a lot of stuff to hip-hop artists, and then he said, "Why don't I make my own watch?" And that's what he made. It was the cheapest-made watch ever, and guess what? I put that watch in the top ten most iconic watches ever made.

• 1:30:18Patrick Bet-David?

  Really?

• 1:30:19Speaker 02

  Yes. Alongside with masters like Audemars Piguet and particularly Y, because of what it did and what this man has accomplished. Going from a booth this big to where he is today, where, I mean, building apartment complexes, the tallest in the world, and making watches such as this, and the celebrities that wear them, he revolutionized, he took the stuffy Swiss watch industry, and he brought the world of hip-hop and flex into it. He is the king of flex. He is the guy that, "You wanna flex? Here."

• 1:30:51Speaker 02

  Here's $700,000 on this, all yellow, cut baguette diamond, and a terbium.

• 1:30:55Patrick Bet-David?

  This is 700K.

• 1:30:56Speaker 02

  Yes, and guess what? He now is no longer making his watches in China, obviously. He took horology to the next level. Did you see Jay-Z wearing the Bugatti watch he just came out with?

• 1:31:04Patrick Bet-David?

  Mm-hmm.

• 1:31:05Speaker 02

  I had that on my wrist in Geneva. I was proud to flex to say I was the second person to get that watch after Jay-Z. But he now uses a factory, a company called Concepto, which they make some of the most innovative movements and some of the most highest quality movements. So he went from that time zone watch to creating something like that. And that entire animation, that works. You press a button and those cylinders go up and down.

• 1:31:24Patrick Bet-David?

  And what did that sell for? What does a watch like that go for?

• 1:31:26Speaker 02

  The retail on that watch is 380,000.

• 1:31:28Patrick Bet-David?

  That?

• 1:31:29Speaker 02

  Yeah, and good luck finding one. You won't find that one.

• 1:31:31Patrick Bet-David?

  Worth buying or no?

• 1:31:32Speaker 02

  If you want to flex, if you want to have that watch, and if you believe in Jacob the man himself, then yes. I'm getting one.

• 1:31:39Patrick Bet-David?

  There's watches that I hear, like, don't waste your time buying anything, you know, with those guys. I hear the criticism from guys in the marketplace on Huna. I've heard Hublot, I've heard a few others. I've heard him sometimes with their one. By the way, some of the stuff is really creative. Matter of fact, Rob, isn't there, they have a 20 million dollar gold watch, right? Wasn't there something with him that he?

• 1:32:01Speaker 02

  Yeah, The Billionaire.

• 1:32:03Patrick Bet-David?

  Right.

• 1:32:04Speaker 02

  Yeah, pull up Jacob and call billionaire.

• 1:32:06Patrick Bet-David?

  Is that what it's called, the watch?

• 1:32:08Speaker 02

  It's called The Billionaire.

• 1:32:10Patrick Bet-David?

  Rob, see if there's a video.

• 1:32:11Speaker 02

  That's it.

• 1:32:14Patrick Bet-David?

  That's a 20 million dollar watch. Has he sold it? Does anybody own it? Does he still have it himself?

• 1:32:19Speaker 02

  Uh, not yet, but he sold, this is one of the variations. But he made many of those, like Floyd Mayweather had one, a couple other guys had one.

• 1:32:26Patrick Bet-David?

  Who has the biggest watch collection? Who has the biggest watch?

• 1:32:29Speaker 02

  It's gonna be tough to say because you quantify by dollar amount or amount of watches. There's guys out there that have thousands of watches, but they're not that expensive.

• 1:32:36Patrick Bet-David?

  No, quality, quality, because, you know, somebody could have a thousand, 50,000 dollar watches.

• 1:32:40Speaker 02

  From the world, from the world of celebrities. You've got guys like John Mary, you've got guys like Mark Wahlberg. You've got guys like Kevin O'Leary.

• 1:32:47Patrick Bet-David?

  So it's not billionaires?

• 1:32:48Speaker 02

  Not really.

• 1:32:49Patrick Bet-David?

  Really, because Bill Gates wears a forty dollar watch. He wears like a

• 1:32:52Speaker 02

  He doesn't care.

• 1:32:53Patrick Bet-David?

  Yeah, he doesn't care.

• 1:32:54Speaker 02

  It's remember, remember what I told you when you said, I want to, I want to see if I can get this five million dollar watch. I asked you, how many guys do you know that can afford the watch? You said, okay, that's a small pool. I said, and out of that pool, how many of those guys actually be willing to spend five million? Because some guys will be willing to spend five million bucks on a rookie Babe Ruth card versus an expensive watch and wear a Timex, right? It's not, watches are not, it's, you have to be into this stuff.

• 1:33:16Patrick Bet-David?

  I, I, I was about to get it and then I put it elsewhere. But, but by the way, Rob, there's a story, if you can pull this one up and then we can maybe wrap up on the, finish. Two more stories I want to go through and we'll wrap up. The story of a watch, Hitler's watch that sold for 1.1 million dollars. Did you follow this?

• 1:33:32Speaker 02

  No.

• 1:33:33Patrick Bet-David?

  So if you go to this one, there's a story of, there was a watch he had. Is that it? Yeah, right there. So Hitler's watch sells for 1.1 million dollars at controversial auction. Uh, you know, they call that a porn, something like that. Go a little lower to see what the watches. So despite this, which in Maryland, so the wristwatch believed to have belonged to him for 1.1 million. What is the watch? Go up to see if he can recognize the watch. Do you know what?

• 1:33:59Speaker 02

  It's a reverse from the early thirties. The reverser was originally created in the thirties. It was made for polo players. It flips over so you can protect the watch as they're playing the match.

• 1:34:08Patrick Bet-David?

  What's special about this watch?

• 1:34:09Speaker 02

  Uh, it's one of the most top iconic watches out there. It's made till this, till this day. Uh, they're about to celebrate a hundred year anniversary not too long from now. And again, it, what's special about it is the fact that it belonged to Adolf Hitler. That's it. There's, you know, you can buy, you can buy a vintage reverser from the thirties for, you know, five, 10, 20,000 dollars, depending on the condition.

• 1:34:30Patrick Bet-David?

  Who bought it, by the way? Like, based on, Rob, go back on Maryland, sold the controversial, anonymous, oh, anonymous buyers.

• 1:34:38Speaker 02

  Of course. Who wants to be the guy to say, I bought Hitler's watch?

• 1:34:41Patrick Bet-David?

  Including a golden eagle from Hitler's bedroom, several of the genocide dictator sketches and painting and dress that belonged to Eva Braun, his wife. Auction house believed Hitler received a reversible gold watch made by Andres Huber on April 20, 1933, and his 44 birthday bears the letter A H. Was the Nazi. Wow. A French soldier, uh, nabbed the watch made for, when his allied unit reached Hitler's summer house in Bavaria.

• 1:35:07Patrick Bet-David?

  According to Alexander auction, the watch and its history have been researched by some of the world's most experienced and respected watchmakers and military historians, all of whom have concluded that it's authentic and indeed belonged to Hitler. Proxion House.

• 1:35:19Speaker 02

  Well, consider that my real grandfather died in World War II fighting the Nazis. I wouldn't be the buyer for that watch, as you can imagine, right? And considering what, I wouldn't buy Stalin watch either. You know, so for me, it's, it's, again, there are people out there, believe it or not, a lot of the Nazi memorabilia that's being sold and traded today, I actually purchased by Jewish people. Did you know that?

• 1:35:42Patrick Bet-David?

  To get rid of them.

• 1:35:44Speaker 02

  Not to get rid of them, to make sure the world doesn't forget. I'm Jewish, so I know. There's a lot of Jewish collector out there that collect Nazi memorabilia.

• 1:35:50Patrick Bet-David?

  Would you buy this? Would you buy this watch?

• 1:35:52Speaker 02

  No.

• 1:35:53Patrick Bet-David?

  Why wouldn't you buy it?

• 1:35:54Speaker 02

  To me, it's, I have, I have, I have, well, they're no longer with us, but I've had people in the family that had the tattoo on their hands. So to me, this gives me goosebumps, just reading about it. I, I would completely against it. Would not do it. I don't care how collectible it is, and I can see how people can say, hey, it's super collectible, it's this. That's not a man that did a lot of good in this world.

• 1:36:15Patrick Bet-David?

  I agree.

• 1:36:16Speaker 02

  So.

• 1:36:17Patrick Bet-David?

  I, I, I agree. I lived in Germany for almost two years. And we went to, I lived in Erlangen, so we were a few minutes away from Nuremberg. And we used to go there, history, just see, seeing all this stuff, the history of it.

• 1:36:29Speaker 02

  Yeah.

• 1:36:30Patrick Bet-David?

  This guy was in it. Did you ever read his book, Mein Komf, or no?

• 1:36:32Speaker 02

  No.

• 1:36:33Patrick Bet-David?

  Yeah, very, very weird guy on what he did. Rob, go to the Tyrese clip. This is the next one I'm going to show you. So here's Tyrese, okay? I don't know if you've seen this or not, it's a very interesting clip, but he's talking about, you know, the jewelry and the watches he has, whether it's real or not and why. Go ahead, Rob.

• 1:36:55Speaker 06

  No. You can't tell? I don't know, man. You know why it's not real? Because I've lost so much of this shit. I just spent a half a million dollar loan to fuck a what? Call Jake up the jeweler, nigga. Call all of them. All your most favorite popular jewelers online, and all got my black Centurion. You don't know what Centurion is?

• 1:37:17Speaker 02

  That platinum car.

• 1:37:18Speaker 06

  No, that Centurion car. Black heart. They know what that's interior in there. That thing goes through. I'm good. I don't lose no sleep. Yeah. Over trying to win the popularity contest from showing up with all this jury that I'mma leave on a nightstand and have a housekeeper to say, I don't know. I'm sure you don't know.

• 1:37:38Speaker 06

  I'm sure you don't know.

• 1:37:41Speaker 02

  I agree with his point, but I am completely anti fake stuff. If you are buying something fake for the purpose of flexing and people give me an excuse, oh, well, I travel to places where it's dangerous and therefore I choose to wear a fake watch. I just don't wear a watch. If you're gonna, the amount of time, effort, history, innovation, hard work, sweat and tears that goes into these little marvelous things that I like, we like to call watches is in, it's immeasurable. I can talk to you about for 10 hours. If I go down every single watch, we'll need another eight hours to talk about it, right? I have respect for those that innovated over the last few hundred years. I have respect for those that created something that people thought was impossible to do. I just showed you a watch that has an animation on a screen. It chimes out the time and there's no battery inside, right?

• 1:38:26Speaker 02

  The craftsmen that put the diamonds into this Jacob watch, the double sphere and watch that you see over there.

• 1:38:30Patrick Bet-David?

  What is that one?

• 1:38:31Speaker 02

  Uh, this is a Pernell double sphere and watch.

• 1:38:33Patrick Bet-David?

  May I?

• 1:38:34Speaker 02

  Yeah, please. It was, uh, it was done by a gentleman named Eric Kudry, who is the second or simultaneously created what's called a 3D turbine. It spins across three axes, right? Because the original turbine was made for the queen for her pocket watch because it was running slow. So Brigade invented it to make the pocket watch run on time. And that was only working if it was perpendicular to the ground. This is 3D. It's a $1.6 million watch.

• 1:38:57Patrick Bet-David?

  That's a 1.6.

• 1:38:58Speaker 02

  It's also made entirely out of a piece of crystal. So you know the crystal on top of your watch? That entire watch is made out of that.

• 1:39:03Patrick Bet-David?

  Wow.

• 1:39:04Speaker 02

  The error rate on creating those crystals, probably seven out of 10 fail. This is, you're literally cutting it out of a crystal. It's tough. But when I see somebody put on a fake watch, because they're doing it for one reason or one reason only, there's no doubt in my mind that this is flex and flex only. You're trying to impress somebody. And to me, that is like the worst thing you can do to a watch, at least for me. If you come in and you wear a fake watch, and I will know, I will know from across the room. It happened to me in an event. Uh, we did an event with, um, selling Orange County, the girls that sell real estate. We did a charity event with them. Guy walks in with a Richard meal. And he was probably 20 feet away when me and Adrian goes, oh, that's fake. He didn't even know. He got actually duped. Also, he says. But fake watches and doing what he does and you know what? Don't wear anything.

• 1:39:49Speaker 02

  That's it. I just, I'm very anti fake.

• 1:39:52Patrick Bet-David?

  It's interesting that billionaires don't have a big watch collection. Like, you know, you know what I would be?

• 1:39:57Speaker 02

  They do. You just, they just don't show it and you don't know it. I have, so we did an event. It was a client appreciation event at the Aquilina in Sunny Isles here. And Kevin O'Leary actually showed up when he wasn't even invited. Somebody brought him. In that room, we had, we invited 150 of our top spenders. So in that room, you had everybody's net worth started with an M. And there were six people in the room whose net worth started with a B. And those guys have watches. You just don't know about it because they're not in the limelight, in the likes of John Mayors or Mark Wahlberg, et cetera, or Michael Jordan. Michael Jordan has a Pernell, by the way.

• 1:40:30Patrick Bet-David?

  Which one?

• 1:40:31Speaker 02

  This one. No, this is a piece unique. It's a one-off. So he has a similar, he has a red crystal.

• 1:40:36Patrick Bet-David?

  Really?

• 1:40:36Speaker 02

  And he paid for it. He wasn't giving to him. Michael Jordan's a huge collector.

• 1:40:41Patrick Bet-David?

  What's the most unique watch he's got? Oh, is that the one, Pernell that are top right?

• 1:40:45Speaker 02

  Uh, yeah, that's it. That's the one.

• 1:40:46Patrick Bet-David?

  What's the most unique thing he's got?

• 1:40:48Speaker 02

  Ah, it's tough to say because there's really no information. I never sold him watches. I wish I did. I would love to sell the greatest player of all time a watch, but I don't know. I know he's got a ton of watches. I know he's got a lot of artwork. I know he's got, he's got two Pernells. And the stuff that you see online, it's not necessarily true, right? People find pictures, they see images. Well, that could have been an image taken if you tried something on it. Does he own it? I don't know.

• 1:41:12Patrick Bet-David?

  Makes sense. Yeah, he's, uh, I don't know why. He gives me the vibes of somebody that's got a big watch collection.

• 1:41:19Speaker 02

  He has a huge watch collection, that I can tell you.

• 1:41:21Patrick Bet-David?

  Who have you sold watches to over the years?

• 1:41:23Speaker 02

  So I keep, I keep my client list fairly private.

• 1:41:26Patrick Bet-David?

  Anything that's public, that people would know.

• 1:41:28Speaker 02

  I don't, I don't make it public.

• 1:41:29Patrick Bet-David?

  So people want to know who you've sold it or?

• 1:41:31Speaker 02

  No, unless, so I'm not, so there's guys in my industry, we call them clout chasers, right? Oh my God, I sold Patrick Beddavid a watch. Unless Patrick Beddavid decides, well, you did it on your podcast. In fact, you didn't even mention my name. You just said Roman on your podcast when you bought your wife a watch. You said, I bought it from a guy named Roman. That was the clip. I had a thousand people say, hey, Patrick Beddavid just gave you a shout out. They knew it was me. And you only mention

• 1:41:57Patrick Bet-David?

  Roman, Roman watch, people know Roman watches

• 1:41:59Speaker 02

  They put, they figured, they figured it was me, so, you know, but if tomorrow you decide, you know what, Roman, I'm gonna purchase this watch, I'm gonna make an Instagram post and I'm gonna tag you, great, I will never ask you to do it.

• 1:42:08Patrick Bet-David?

  Well, let me tell you what, I like, I like the way we've done business together. My experience has been superb with you and I said that at the beginning and I said it, uh, uh, the best kind of sponsorships are the ones where you don't ask for it and the customer does it. Um, and that's why I said everybody should go on Manect and ask you questions before they make a purchase for a watch. It's good to have access to somebody.

• 1:42:27Speaker 02

  I'm gonna be live, I'm gonna be live as soon as I get back, I'm just finishing a couple of things with your girls.

• 1:42:31Patrick Bet-David?

  Yeah.

• 1:42:32Speaker 02

  They're gonna, they're gonna look at my setup, I'm probably gonna go live next week with it and again, I'm taking all the proceeds and they're all going to my charity.

• 1:42:38Patrick Bet-David?

  Fantastic, respect to you. Roman, um, for me, if you wanna know what this customer's looking for, okay? Anything with history tied to my community, Iran, Shah, uh, Syrian, Armenian.

• 1:42:54Speaker 02

  Pull up, pull up Audemars Piguet Cobra. Go to my website, actually, go to luxurios.com, shame is plugged, type in Cobra.

• 1:43:04Speaker 02

  Just click the whole thing, right here.

• 1:43:10Speaker 02

  Or just go to Audemars Piguet, it's fine, there we go.

• 1:43:13Patrick Bet-David?

  Oh, this is the one that you did?

• 1:43:14Speaker 02

  So the Shah wore, the watch, if you go third to the right, that's the watch that he wore.

• 1:43:19Patrick Bet-David?

  That's his?

• 1:43:20Speaker 02

  Not his, if it was his, it'd be a lot more money.

• 1:43:22Patrick Bet-David?

  What I'm saying to you is, I want what was his. I wanna know what he had, I'm interested in that.

• 1:43:30Speaker 02

  Okay.

• 1:43:30Patrick Bet-David?

  Because that, if you got something like that, or, we got four years to go till I'm 50. If we find out something, someone, that we can make something that's gonna be unique to people that are important in my life.

• 1:43:44Speaker 02

  I can get that done in the next two weeks, so don't worry about it.

• 1:43:46Patrick Bet-David?

  So that's the other one to be thinking about, to be unique from a bigger name that we have, okay? So that's that part. And then, the last one would be a one-off from

• 1:43:58Patrick Bet-David?

  You know, paddock or somebody like that that we can make for the family. I would have a lot of interest in that to put something there. So if we had to.

• 1:44:04Speaker 02

  Well, I appreciate you giving me Mission Impossible. Thank you so much for having me on the podcast and leaving me with Mission Impossible.

• 1:44:09Patrick Bet-David?

  You said you were very competitive, man. I said, let's, you know, let's do it. Let's have a conversation together.

• 1:44:14Speaker 02

  For sure.

• 1:44:14Patrick Bet-David?

  Yeah. So those are the things that I'm interested in. To me, I don't have any fake watches. I'm not in a business of having fake watches. To me, it's purely about passing it down to the kids. I've never sold a watch. Like I've never, I've literally never bought a watch to sell the watch. Even when you and I were talking about that Grand Master, I would have bought that to, when they give it to my grandkids. I would have bought that to keep it in the David family.

• 1:44:38Speaker 02

  So you preach into the choir. I know exactly how you feel. That's one of the most important things in life to me is my family. That's the number one most important thing. I told you before, for me, it's family, God, country. I'm a simple guy. That's what I believe in.

• 1:44:48Patrick Bet-David?

  I love it. And you like nice sneakers. So you have good taste. This was great, man. I really enjoyed it. It's good to finally meet you face to face.

• 1:44:57Speaker 02

  Absolutely.

• 1:44:57Patrick Bet-David?

  This was fantastic. Appreciate you for coming up, brother.

• 1:44:59Speaker 02

  Thank you so much.

• 1:45:00Patrick Bet-David?

  And guys, all the links, everything will be below. Take care. God bless. Bye bye.

• 1:45:04Speaker 02

  Thank you, guys. Guys, I get a million DMs a day. You guys are asking me, how do I get into the watch industry? Well, I've been doing this for 22 years. I don't have time to answer a thousand DMs a day. I try my best. However, all those questions can be asked of me on me net and all the proceeds from those will go to my charity.

• 1:45:24Speaker 04

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