Episode 31 of the SJX Podcast digs into two major industry reports — one from Vontobel on the primary market and one from EveryWatch on the secondary — and what they reveal about where value is concentrating in the watch industry. SJX and Brandon discuss the K-shaped nature of the market, the dominance of F.P. Journe among independents, and Cartier’s remarkable ability to sell across every price tier.

The discussion also touches on the role of emotion in driving purchase decisions, the financialisation of the hobby, and why market reports have limited utility for collectors.

Listen now on Apple Podcasts, Spotify, and YouTube.