Today’s Most UNDERRATED Watches (ft. Federico Iossa)

In the world of watches, there are those that are popular, expensive, and sought after by many–and when you’ve got one, you’ll look like everyone else! Today, we’ve got great yet underrated options for timepieces that are unique and well-priced.

Video Transcript [Lightly Edited for Clarity]:

Nathan Price: Welcome back to the Gentleman’s Gazette. In today’s video, we are going to explore the world of underrated watches, and we brought with us an expert in the world of men’s timepieces.

If you’re a regular viewer of our channel, you’ll notice that there has been an increase in wristwatch content. Now, that is because Raphael has said previously he doesn’t like watches, and when I joined the team, I decided to change that.

So, since we decided to add more timepiece content to the channel, we didn’t have a really great source of where to get these watches. So, we decided to partner up with Federico here of delraywatch.com, and he’s joining us today to talk everything watches.

With all that being said, it is my great pleasure to welcome Federico to the Gentleman’s Gazette YouTube channel. How are you, Fed?

Federico Iossa: Very good! Thank you so much for having me! I’ve been a fan and a viewer of your channel for a very, very long time. And when you first reached out to me, I honestly thought it was a little bit of a prank.

NP: Yeah, we really needed someone who would supply us with some watches that we could wear, that we could film with different outfits, and I have been following Federico since he lived in New York many years ago. And I was like, “Hey, this could be our guy!”

So, we got everything worked out, and Federico sends us watches to film and wear with different outfits. We’re so glad to have him here on the channel. And if you want to check out his channel, which is a great resource for all things watches, check out “Federico Talks Watches” on YouTube.

So, today’s topic is underrated watches. What are watches that you can get for a very low price or for a higher price that have a really high level of quality? Federico and I are going to bounce some ideas off of each other, so let’s get started.

Today’s Most Underrated Watches: 1. Girard Perregaux Laureato

FI: So, to start off is a watch that is not necessarily inexpensive, but it’s inexpensive compared to other things on the market. And I’m gonna go with the Girard Perregaux Laureato. 

It’s an integrated bracelet, sports watch that comes in time-only, chronograph guides, and skeleton. Now, this competes with the Patek Philippe Nautilus. Well, not directly competes because it’s a lot less expensive, but also the Vacheron Constantin Overseas, and of course, the Audemars Piguet Royal Oak.

However, you can pick up a time-only in white for under ten thousand dollars, which is about a third of the price of a Royal Oak or half the price of a Vacheron; a tenth of the price of the Patek.

But, also in the skeleton, right, which is a lot more expensive, these start at about $35,000 in steel. And you know at Delray, we have one in solid rose gold for under 60, and that is, you know, way less than the hundred thousand dollar equivalent in Audemars Piguet.

Now, this is an old Swiss brand – entirely in-house, in-house movements. A design that has existed for decades. It’s not a new copy. This was, this did come out in the era of Genta’s Royal Oak, right? So, historically, they’ve been together for a long time. It’s just a brand that doesn’t get of the same sort of clout.

Now, I will say these prices have climbed up enormously over the years. I bought a Laureato for three thousand dollars about four years ago. Now, they’re triple that. However, still grossly undervalued compared to its competitors in today’s market.

NP: Now, the price increase, has that been because of just the overall watch market increase, or is it because people say, “Okay, I don’t want to spend 100+ grand on an AP, and I can get something very similar?”

FI: Well, it has to do with both things. Obviously, the watch market increase propped a lot of things up – particularly these integrated bracelet sports models. You know, when the Nautilus hit a hundred thousand – I’m not gonna lie – it didn’t hurt the Laureato. Right?

But, people did come to realize, “Hey, it’s in-house. It’s been around for roughly the same amount of time. Girard Perregaux is now back to being an independent brand. And you know, how are these two  things so different?”

Now, of course, Patek Philippe is Patek Philippe. I’m not taking anything away from that. But, the fact that you can pick one up under ten thousand dollars, for this category of watch, with this level of finishing, and this history, even though it’s gone up, I don’t think it’s gonna go back down. I think it still has room to grow.

NP: Now, our viewers might look at the two side-by-side and say, “Is this a homage? Is this a copy?” Why is that?

FI: Back when it was made, it was roughly the same era as the Nautilus. It wasn’t really an homage since the history is so long. Now, I consider something like the Hublot Big Bang to be an homage to the Royal Oak Offshore, right?

Jean-Claude Vivier, the CEO at the time of Hublot, even said as such. Like, “Yeah, we copied it! Of course, we copied it. Why wouldn’t we copy it? It’s a great watch!” There is an element to it, but it stood on its own for so long that it’s its own watch. And I think most people would agree with me on that.

NP: Yeah, yeah. I absolutely agree. I think that that’s a great pick. Delray sent several of them over to us. We got a skeleton in rose gold that Federico was talking about. I think it was last week when you sent some time-only. And I believe, a chronograph before, and it’s a great watch. I would absolutely agree with that pick.

2. Tissot PRX

NP: So, my first pick is the Tissot PRX. This is a sports watch that can actually be a little bit dressed up. You can get it on a leather strap or on the integrated bracelet. It has really interesting dials; you can get it in automatic, quartz, a chronograph version; and they range from about $500 to about a thousand US Dollars. Federico, what do you think about this pick?

FI: So, I love it for multiple reasons. Firstly, integrated sports watch – integrated, bracelet sports watch just like the Girard-Perregaux I mentioned. I actually own a green dial PRX myself. Retail price of $675. I own watches that are more than a hundred times… Sorry. Hundred? Six with…

NP: Sixty thousand? Yes.

FI: That’s a hundred times? I own watches that are more than a hundred times that price, and I still love this piece.

Once again, not in homage because Tissot has made the shape for decades, from the 70s. My Director of Operations, Allen has an original 70s PRX. It’s just a great, it’s a great watch. I mean, for under a thousand bucks, a Swiss-made automatic. How can you lose with all those dial options?

NP: Yeah, and I think one of the things that I really like about it is: it’s something that you don’t typically see the shape, the bracelet. The design, there was more thought put into it than you would expect for a watch at that price point.

FI: Agreed. I will make one argument. I don’t think it’s underrated because it’s been received extremely well, and a lot of people are buying them. But, I will tell you that I do think – we were talking about this earlier – while not underrated, it is highly undervalued. So, you do get a ton of watch for the money.

NP: Yeah. I think that’s a really good distinction that there’s “underrated” versus “undervalued.” I think, for our viewers, I still think that, if you want a sports watch and you don’t want to break the bank, and you might not be thinking about it or considering this brand, our viewership might be looking at higher-end brands and may overlook Tissot, but I think this could be a great pick.

FI: Hundred percent agree, and I own one myself. So, I put my money where my mouth is.

3. Paul Picot Watches

FI: My second pick is Paul Picot. You may have heard of them. A lot of people have not. A brand that’s been around for a very long time in Europe, but never really had distribution in the US. Not necessarily something super special because they’re standard in movements, in diver’s cases, dress cases.

However, the fact that no one knows what they are in the US means you can pick up a quality Swiss watch for something like a quarter of its MSRP. You know, a Paul Picot for 4,500 dollars brand new, which I think is high. You’re going to lose a lot of value there. You can all of a sudden pick it up for twelve/thirteen hundred dollars. And while not the most special watch in the world, it is certainly worth that new price point simply because it’s been overlooked in our current market for so long.

NP: Now, is this a brand that… You said that it was sold more in Europe and in Asia, not in the States. From a market standpoint, is this someone who competes with Omega and Tudor outside of the US?

FI: Just about. I mean, they’re a much smaller brand. I’d say they compete with the Tudor price point for sure. They compete in the Longines. Maybe even a little higher-end Longines. And the reason they’re priced so well is they just never figured out their US distribution model.

So, when you go on eBay or delraywatch.com or Chrono24, and you’re a buyer in the States and you look up Paul Picot, chances are you have no idea what it is because it’s never been advertised to you. Do some Googling, and you’ll see it’s a brand that’s been around for a very long time, and you can pick up for a fraction of the price for the simple reason that it’s harder to sell because no one knows what it is. But, the quality is no worse than any other watch in its price point, and it’s a great way to pick up a Swiss watch for a fraction on the price.

NP: Do you regularly stock them on Delray?

FI: We experiment with it. I do stock them. I have a couple now. However, the problem is they’re slow sellers for the simple reason, even though the price is incredible… And I’m not just saying this to sell you the watch, guys, but no, I promise.

But, it’s just not a lot of people know what they are, right? So, the only way to sell them in the United States is entirely based on motivating the buyer to buy them by making them extremely inexpensive.

But, if you look up the brand, as I said, been around for a very long time. If you’re in Paris, Madrid, Rome, Paul Picots are an authorized dealer right next to Zenith, Jaeger-LeCoultre, Frank Mueller, and all the other ones.

NP: Well, great recommendation. And if you guys want to check any of those watches out, it’s something that I wasn’t expecting, and it’s a great recommendation from Federico. It sounds like he has some over on Delray, or do your own Googling and do your own research on them. 

4. Glashütte Original PanoMaticLunar

NP: So, my next pick is the Glashütte Original PanoMaticLunar or really any of the dress watches within that line. What are your thoughts, Fed?

FI: Fantastic pieces! Glashütte, undervalued and underrated. Owned by the Swatch Group. A German company, right? So, Raphael’s home country is as opposed to Swiss. It competes with JLC. It competes with Zenith. But, it’s very different. A lot better finished at least on the surface.

You have to remember: Glashütte isn’t Lange. Lange is a lot more expensive brand. It’s all hand finished. Glashütte’s hand finished where you can see. So, when you turn it around, you can see hand finishing, but underneath the parts, it’s not finished. It’s a cost-cutting measure for good reasons. You can’t have an eleven thousand dollar watch that’s entirely hand finished. 

Very interesting complications. In-house movements. Interesting lineage. I think that’s a fantastic pick.

NP: The reason why I like the PanoMaticLunar is you get the look of a Lange 1 or other watches within that family for a fraction of the price. Where did these watches typically sit price-wise?

FI: So, PanoMaticLunar, the last one I sold pre-owned… I mean, retail price around $14,000. The last one I sold pre-owned, I want to say, high sixes, low sevens. And that look you’re describing as a very Lange look, it’s actually pretty typical in German watchmaking.

So, Glashütte would argue with you that it’s not a Lange look, it’s a German look. But, Longe did kind of make the asymmetric dials famous.

NP: Yeah, which is something I really like. So, from $14,000 down to six to seven. There’s, you know, I feel, like a lot of value there. And if you want a really nice, elegant-looking dress watch, this is a watch that I’ve handled a few times. I even think Federico has sent one over before. It’s a really nice watch, really nice case back. Sometimes, I believe they have micro rotors, too, right?

FI: Most of them have either micro rotors or three-quarter rotors, so not not a full rotor, but not quite a micro rotor.

NP: So, essentially, for the price of an Omega Speedmaster or less than a Rolex Submariner, if you’re wanting a really nice dress watch, I would highly recommend this option.

5. H. Moser Watches

FI: All right. Next is a brand that… Well, if you’ve ever seen my content, you know this one who’s coming. I’ve got to talk about H. Moser.

I’m wearing one right now, it’s an independent brand. They make less than 1,500 watches a year. Not owned by any of the conglomerates. And actually one of the only watch companies in the German-speaking part of Switzerland, right next to their, you know, one of their competitors – IWC.

This is an independent brand. A high hierology. So, handmade, hand-finished, entirely in-house. We don’t compare them with Rolex or JLC. We compare them with F.P. Journe, with Patek Philippe, with some of the more obscure, higher-end brands.

Now, generally, to get into this price point, you’re talking thirty thousand dollars plus, minimum. Moser’s, you know you can get them as low as ten thousand dollars in steel, and you can go up to a few hundred thousand if you want to. And yes, another brand that has picked up steam.

I remember I bought my first Moser for five thousand dollars. Now, that same model is ten. But, it’s still massively undervalued, much cheaper than an F.P. Journe, and much easier to get, and the quality basically the same. So, while, once again, a brand on the rise still a brand that has way more ahead of it than behind it in my opinion.

NP: You said 1500 pieces a year? Did they have boutiques? You know, if our viewers wanted to get a new allocation, how do you do that?

FI: So, I think Moser just has one boutique. I believe it’s in Hong Kong. I mean, there are authorized dealers in the United States. I mean, I think there’s maybe a handful of stores in the US – 10 to 12 that have Mosers in stock. And when they do have them in stock, it’s like 10 to 15 pieces or less. I’ve seen some stores that carry Moser, they only have one Moser in stock.

It’s not easy to get new allocations. It’s a brand that’s picking up steam. They’re pretty much sold out everywhere. But, on the pre-owned market, you can still find them.

You know, I know I’m a watch dealer. I’m a pre-owned watch dealer. I buy almost everything pre-owned because I don’t like to take the depreciation hit. And I can tell you, if you go to Chrono24  or Delray Watch – not to plug myself again – these things are available, right?

They are available, and if they’re not available right now, they will be available. So, just keep an eye out. While it might not be as easy as buying a PRX… you know, a little bit of patience and you will get the Moser you want. And I promise you there will be a lot of room for that to grow in value.

6. JLC Polaris

NP: For my next pick, for those guys who sort of walk the line between dressy and casual, we’ll go with the JLC Polaris. Personally, I really like the variant with the blue dial.

FI: You made a fantastic choice there for multiple reasons. JLC’s what a lot of watchmakers and fans of watches call “the watchmaker’s watchmaker.” Not only do they make their own watches, but they’re so good, they make watches for other people, or they have.

While not famously a brand known for their sports watches, and they’ve always been undervalued and underrated, this is one of their best releases in years. Less expensive than a Sub, and more sophisticated. A better-finished JLC in-house movement. This is one of those underappreciated greats. Great value in watchmaking. And while I don’t necessarily have the itch to pick one up myself, just because I don’t necessarily connect with it, there is nothing about this watch that isn’t nearly perfect.

NP: For me, the reason why I would want to pick it up is if you want a sports watch, but you don’t want to have the sports watch which everybody has – the Speedmaster, the Submariner, Rolex Daytona. This is something that’s a little bit different. And although everyone might not know exactly what it is, you know that you’re wearing a piece that’s really high quality on your wrist.

FI: Absolutely, and I’m a proponent of it being better when they don’t know what it is. But, the person that does know what it is knows exactly what type of thought went into that decision of picking that piece up. No, this is… You know, by a non-independent brand because it’s owned by Richemont, there’s almost no better choice.

NP: Where do these typically sit price-wise on the used market?

FI: That is a great question. They fluctuate a little bit because they’re becoming more in demand. Off the top of my head, I want to say the mid-sixes to, like, a nearly perfect one, just about seven. You’re gonna pay a premium for the blue dial. If you go black, you could probably pick it up in the high fives.

NP: Yeah, so great value. I think the design is also really cool with the two crowns. You don’t have a rotating bezel, which you can manipulate with just twisting it on the top of the watch.

I think it’s really cool pick, and again, if you’re someone who’s really into watches and you want “the watchmaker’s watchmaker,” this is a great option, especially if you like the casual and dressed-up side of a sports watch.

7. Breguet Dress Watches

FI: Next is not only a brand I’m in love with and a brand with probably the greatest history in watchmaking, but also a category of watch that I know you appreciate, Nathan, and everybody here at Gentlemen’s Gazette, but that is under-appreciated in general. I’m gonna go with any Breguet dress watch.

Firstly, dress watches need to come back. Elegant watches need to come back. But, why Breguet? Breguet, while is a Swiss brand now, started in France. It had the Royal Warrant to make watches for the Russian Royal Family. It’s obviously pre-Russian Revolution. They invented the Turbina, which is one of the most prestigious watch complications.

And apart from that, they’re absolutely gorgeous. Guilloché dials or hand-painted enamel; coin-edged, scalloped cases; soldered-on lugs; minimalist thin. They look like a pocket watch from the 1800s. They’re so beautiful.

Their history is so romantic that I don’t understand how you can pick up a solid gold Breguet Classique for $8,000. I mean, I’m talking less than the price of a Datejust. You get a solid gold Breguet with some of the best dial finishing in the world and history that is connected to one of the greatest living horologists ever. It makes no sense to me. It’s shocking to me, and in fact, I will say live on the show, I’m buying one!

NP: That would be your second Breguet because you have a Breguet Marine, and one of the things I’ve noticed about this brand is, even when they do more sporty pieces, it’s still a very dressed-up sporty, to where you could take the rubber strap off, put it on a leather band, and it would absolutely pass as a dress watch.

FI: Absolutely! Breguet is a very elegant brand, first and foremost. I bought the Breguet Marine because I live in Miami. Very hot and humid, but I do like to dress up, and it’s just a great… It’s the only rubber strap watch that I can wear with a jacket. I will tell you, I think rubber straps are a faux pas most of the times, but not on this occasion. However, I’m missing the essence of what makes Breguet, Breguet. And that is a Breguet dress watch.

NP: Do you have a particular model of dress watch that you’re really eyeing and waiting to purchase?

FI: Absolutely! The Breguet Classique in white gold. So under the radar with a hand-painted white enamel dial. No complications. Just time and seconds. Breguet Classique in white gold, white enamel dial.

There is nothing more tasteful in the watchmaking universe, in my humble opinion.

NP: Yeah, I completely agree. I’ve seen your Breguet Marine many times on the YouTube channel, and I think that it’s a brand that’s massively undervalued. And I completely agree, and I think everyone here at the Gentleman’s Gazette would agree that the dress watch needs to make a comeback.

8. Omega Seamaster Aqua Terra 

NP: Okay, for my last pick, it’s the watch that I’m wearing on my wrist. It is the Omega Seamaster Aqua Terra. Now, this watch might not seem like an underrated or an undervalued pick, but I picked it because I really feel like it serves the purpose that other watches that are more hyped or more expensive – like the Rolex Datejust – fills for a lot lower price. I also feel like it’s often overshadowed by the Speedmaster and the Seamaster.

FI: I would agree with you. It’s a great watch, but I would argue that it is massively underappreciated and undervalued because, essentially, what you have here is Omega’s answer to the Rolex Datejust with higher water resistance rating, a movement that has better finishing, more size options, more dial options, and honestly, for most Aqua Terra models, less than half the cost.

Now, yes, Rolex generally is more expensive than Omega, but this Aqua Terra is tasteful. It’s a hybrid. I wouldn’t call it a “sporty dress watch,” but it is a “dressy sports watch” that does everything anybody needs day-to-day. And you can pick it up for a much deeper discount than not only a Seamaster and a Speedmaster, but most definitely a Datejust.

NP: Yeah, I think one of the things that I also like about it is… The Datejust looks great on a leather strap and it looks great on its Jubilee bracelet. I haven’t really seen too many people try to do a Datejust on a rubber strap. But I think for someone who likes to, you know, cover all their bases – leather strap, rubber strap, bracelet – I think the Aqua Terra covers all three of them really well.

FI: Not only that, but Omega also offers a deployment buckle for said straps, right? So, there’s like an officially supported way to wear your watch that way; whereas Rolex, you know, if you take it off the Jubilee bracelet, they looked at you like you just kicked a puppy!

[both laugh]

NP: That’s a good way to say it.

Yeah, I completely agree. I think the Datejust looks best on its Jubilee bracelet. But, as you know, for those of us who like to wear different outfits, I think the Aqua Terra gives you much more versatility.

FI: It is absolutely the more versatile choice, and financially, the more sound choice. Though some people would argue Rolex holds value better, I think in this inflated market, Datejusts have nowhere to go but down because, you think about five years ago, they just never held value.

So, especially if you’re gonna buy one now, it’s just an awful time to buy a Datejust, which is a plus for the Aqua Terra.

Conclusion

NP: Okay, well, there you have it. Now, the spotlight has been firmly placed on these watches, so they will no longer be underrated. So, what do you think about our choices? Do you agree? Do you disagree? Let us know in the comments below.

Also, stay tuned for lots more videos with Federico. We have him here in Minneapolis for a few days, so there are lots more great content on the way. But, in the meantime, if you want to check out more great watch content, I will let Federico plug his channel.

FI: That’s right! Thank you so much, Nathan. If you guys want to find me, that’s “Federico Talks Watches” on YouTube or delraywatch.com. If you guys want to buy a pre-owned watch, as I say, it’s the best place for a watch geek to buy a watch.

And honestly, this has been so much fun. It’s so great to meet you and meet the team and just mess around in your office. I really hope this becomes a regular thing.

NP: Yep, I absolutely could not agree more. It’s been an absolute pleasure having you.

Outfit Rundown

NP: In today’s outfit, I’m wearing a combination of a sports jacket and trousers, which is great for the warm weather here in Minneapolis. I’m wearing a blue, micro-houndstooth sports jacket. This was made to measure for me by Beckett & Robb.

My shirt is an Oxford cloth button-down, and it was made to measure by Proper Cloth. My trousers are in a cream Huddersfield cotton. They were made to measure by the Singapore online brand Collaro. Since it’s warm out, I’m not wearing socks, but my shoes are the Yanko and Skolyx travel loafers.

On my wrist, courtesy of delraywatch.com, is this awesome gray dial Omega Seamaster Aqua Terra, which is a watch that is underrated no longer. My pocket square is from Fort Belvedere. It is our orange, large paisley pocket square. It has light greens and purples – perfect for the warm weather months.

If you want to check out this pocket square, some socks, some ties, or anything else that you need for these warm weather months, check out the Fort Belvedere shop.

FI: Today, I’m wearing a sports coat and trouser combination. My sport coat is a linen and cotton mix, made to measure by my tailor in Hong Kong. I’m wearing an Oxford cloth, white shirt, also made to measure by the same tailor.

I’m wearing Navy chinos by Brooks Brothers and some shell cordovan Allen Edmonds in my size, 10 and a half, triple E.

On my wrist is my H. Moser aventurine dial, perpetual moon. My favorite watch and the hardest watch to get in my collection.