six-figure price tag for a time-only watch. Another price increase without much evidence of innovation. A campaign fronted by someone with little interest in the product. For experienced collectors, these are reasons to question a brand, however desirable its name may be.

Alexander Friedman hears these concernsthrough CollectorSphere, the collecting community he co-founded. Its research examines the motivations, expectations and frustrations of its members, and while these are the views of a particular cohort, they raise questions that reach beyond it: what sustains a brand’s credibility, and how quickly can it lose the confidence of the people buying its watches?

CollectorSphere plans to make a Confidence Index central to its 2026 report. Friedman’s premise is straightforward: enthusiasm can weaken long before the damage appears in the accounts.

Europa Star: How is the balance between brands and collectors changing?

Alexander Friedman: Historically, the collector’s voice was largely reserved for a few VIP clients. Even then, the relationship was led by the brand: it created the product, controlled the narrative and expected the collector to receive it.

Experienced collectors are an underused source of knowledge. They study watches, compare products, understand movements and brand histories, deal with after-sales service and, ultimately, live with the objects. That gives them perspectives a brand can struggle to generate internally.

The difficulties faced by the traditional industry in recent years, alongside the rise of independent watchmakers willing to experiment, have made this more apparent. Collectors can offer insight into both the watches themselves and the experience of owning them.

Some independent watchmakers already seek out this feedback and use it to develop products and engage with their communities. There is an opportunity for a more collaborative relationship. This does not mean every opinion carries equal weight. Experience, expertise and the ability to contribute constructively matter. The shift is towards brands listening to collectors, learning from them and, where appropriate, building with them.

Which findings from your research should the Swiss watch industry be looking at first?

Value is being questioned more closely. Collectors scrutinise price increases, allocation practices, availability and after-sales service. They also ask whether the products offer enough innovation and differentiation. Independent watchmakers are challenging established assumptions about what people will pay for and what they expect in return.

The question extends to the relationship between watchmaker and collector. Independents can offer a different experience of that relationship, as well as different products. That is part of why their growth deserves attention when established brands consider what their customers value.

Another important point is how collectors talk to one another. They are better informed, more connected and willing to share their experiences. A brand’s communication is only part of the story. Ownership experiences and conversations between peers shape its reputation.

These are the areas behind our planned Confidence Index. Sales, margins and volumes tell you what has happened. We want to understand how confidence in a brand, its products and its direction translates into behaviour over time.

If confidence deteriorates, that may not immediately show up in annual accounts. Equally, growing enthusiasm may signal future demand. We see this as a possible early-warning system, alongside financial reporting.

Which watch best captures the direction of collecting?

Our community’s ranking of the 2025 Watches and Wonders novelties is revealing. First came the Jaeger-LeCoultre Reverso Tribute Monoface with its Milanese bracelet, followed by the Parmigiani Fleurier Toric Quantième Perpétuel and the Cartier Tank à Guichets.

The recurring themes were craftsmanship, exclusivity and innovation. Those were the qualities our community responded to. We have also seen collector awareness evolve quickly over the past year, particularly within our own cohort.

What matters most: rarity, authenticity, cultural relevance or consistency?

Human relationships! Collectors are increasingly interested in the creative people behind a brand. Leadership is often overlooked, yet it carries real weight within collecting communities.

Breguet is an example. Within our community and beyond, Gregory Kissling is perceived as an energetic and motivated CEO bringing the brand back into the spotlight. Collectors pay attention to who is guiding a company and where they appear to be taking it.

At what point do prices start to undermine desirability?

When collectors cannot see an improvement in the product or the experience that justifies the increase. Many fear being alienated from brands on precisely those grounds.

There is a complication: a lot of collectors still have a pre-COVID pricing model in their heads. They openly admit that their benchmarks may be out of step with the current market. That does not make the frustration disappear.

Among people who have been collecting for decades, there is already a feeling that prices are unjustified. They are also baulking at auction hammer prices.

A collector’s assessment combines product quality, the experience offered by the brand and expectations built over years of buying. That makes it difficult to separate the price discussion from the wider question of confidence.

There is no universal threshold; the answer remains subjective. But concern is growing around six-figure entry prices, particularly among independent brands and especially for time-only watches. Collectors are asking what, exactly, justifies the price.

What does the industry still misunderstand about collectors?

That the collector is the influencer. For years, many brands have relied on paid influencers and creators who can produce social media content but have little interest in, or understanding of, the product.

Consumers increasingly recognise that disconnect. The returns from that kind of promotion are diminishing.

The industry needs something closer to a peer-reviewed model: products and reputations supported by engaged, knowledgeable collectors. Their advocacy gives a brand legitimacy. Collectors are the real influencers because they share their experiences with other people who care about the watches.

A brand cannot assume its own communication tells the whole story. What owners say to one another, and whether their experience supports the message, has a significant effect on how it is perceived.

Where is the biggest gap between what brands think creates desire and what collectors respond to?

Brands can underestimate what sets off collectors’ alarm bells. These can be their most demanding customers and, at the same time, the people most motivated to buy.

Collectors are sensitive to initiatives that appear overly commercial, campaigns that miss the mark and influencer partnerships that lack credibility. Price increases without meaningful innovation can also cause frustration.

There are too many disconnects to list, but changes are happening, brand by brand! Some CEOs recognise the power of collecting communities and are beginning to respond. The willingness to take those communities seriously is important.

What do you want CollectorSphere to achieve?

A space where collectors can meet, discuss watches and exchange ideas that help the industry. We will continue building the community internationally, with attention to the individuals within it. Our view is that collectors will play a decisive role in the success or failure of watchmaking projects. Their knowledge and experience deserve a place in that conversation.

What will drive collectability in the coming years?

Community. It has always helped determine what becomes collectible, but the nature of its influence is changing.

Communities, on Instagram or elsewhere, can create demand through fear of missing out, hype, exclusivity or the desire to signal status. Those forces still exist. But we increasingly see a desire to belong: to exchange knowledge, share discoveries and spend time with people who understand the enthusiasm.

That matters beyond the price or prestige of a purchase. At CollectorSphere, we celebrate a new watch acquisition for the research, the story and the individual reasons behind it. The interest lies in why someone chose that watch and what it means to them.

Having your collecting philosophy understood by your peers is rewarding. Validation can come from someone recognising why a particular watch matters to you, regardless of whether it is the rarest or most valuable object.

The community becomes part of the collecting experience. Members contribute knowledge, follow one another’s discoveries and appreciate the decisions behind a purchase. That sense of participation gives people reasons to remain involved beyond the next release or acquisition.

I think communities will increasingly determine both what people collect and why they keep collecting. The most enduring forms of collectability will rest on shared knowledge, cultural relevance, personal connections and a sense of belonging. Scarcity and hype will still play a role, but they do not explain everything that makes someone stay engaged for years.