Valuing Handcraftsmanship

[TimeTexas]

I picked up this fantastic watch from Richard Day a few weeks back. This is his first watch and I'm actually blown away by the craftsmanship for what was kind of a test run according to him. It was a bit of an impulse buy because I'm fascinated by people who are mechanically inclined and motivated enough to build something like a watch.

The point of the post is that he asked me today what I thought about the watch and what I thought it was worth. At the price he's been selling them for, about $850USD, he's not really making anything considering the amount of time he's putting into each timepiece. And I didn't have a real good answer off the top of my head since the price isn't determined by specs but the soul of the watch. At that price, though, it was something I felt was an easy decision to get something that completely unique and knowing its essentially a one of a kind timepiece.

I don't have any other handmade timepieces like this, although I do have a couple on the way. One from Sergey Chutov which sells for $1,950 USD and one from Hrotsky which sells for about $2,900-$3,000. I can't compare those as I don't have them yet. I also really like f.ronzen watches and I believe those are in the $3-4.5k range depending on the model. I'm expecting the Chutov and the Hrotsky to be more refined, the movements are upgrades from the Miyota in the RD, and include things like laser etching on the caseback, signed crown, etc. The  Hrotsky includes black polished hands, embedded applied logo.

And Richard's question got me thinking, what is handcraftsmanship worth? He is going to release another batch of watches at about $1100. I think that's a fair price. I think with some additional refinement of the overall package, an upgraded movement, and a few added features a price in the $1,500-$2,000 range is certainly within reason. Part of the charm of a handmade watch like this is the fact that even though there are several others out there, they all differ slightly due to the nature of being hand made. Some may call them imperfections, but to me those are the beauty marks of something made by human hands.
 

 

 

[TimeTexas]

[TimeTexas]

So, the next handmade piece that has come in is the Sergey Chutov Fortress 2. 

As expected, the craftsmanship and finishing on the Fortress 2 is higher than the Richard Day. Not to take away from the RD, part off the charm is the rustic, handmade feel of the watch. And its still very well done when considered in that context. Its clear his skills developed making telescopes translated to making watches.

The Fortress is a more refined timepiece and, rightfully costs more. I actually think the Chutov is a good value at $2,000. One factor is that Sergey is in Russia compared to Richard in the UK which likely factors into the pricing to some extent. Based on the level of finishing, upgraded movement, including nice brush work on the movement, it is a well executed watch and a good deal for something done by hand. You don't have the sharp anglage or beveling or other flourishes, but what is there is done remarkably well.

The textured gray dial is excellent and the applied, polished logo and the circular brushing on the surround looks great. 

Overall I'm very impressed and I do think the time spent to home his craft shows in the finishing and overall execution. The movement is certainly an upgrade, as well as the level of finishing.

Knowing the quality of this and other handcrafted watches, including upgraded movements, I think the RDay is probably appropriately priced at $1000-1100. You are buying more than just the components of the watch, including the time spent creating a unique piece. Labor rates in the UK are different than in a Russia and the time spent building each piece by hand is a time consuming process. That said, if Richard is trying to build a brand, he may be better served keeping the price sub-$1000 to keep it as more of an impulse buy and build a customer base as he further refines his skills and makes some moderate improvements to move to the next level. But on the other hand, the people looking for hand-crafted watches like this likely aren't going to draw a distinction between $850-1,100 because the value is in the time spent and the unique nature of the timepiece and less about specifications and refinement. There aren't many options for handcrafted watches at that price point, but there is an increase in competition as you move into the $2,000 range.

Either way, I understand that Richard has sold out of the first batch and is planning a second release. I'm interested to see what, if anything, he does differently the second time around.

I'm also excited to see the refined Via Lactea from @Hrotsky next. The price for the Via Lactea is another level up from the Chutov at around $2,900. My expectations are extremely high. I've followed Alex's progress for many months and he has certainly invested in some tools, equipment, and also time to create an exceptional timepiece.

But at the moment I'm really enjoying both timepieces that have arrived and both are impressive in their own right.