A 21-year-old’s journey to purchasing an $11,000 Rolex through savings and part-time jobs
Wayne Chan, a student at the National University of Singapore, set himself a goal early in his polytechnic years: to own a Rolex Submariner, worth approximately S$11,000. To make this dream a reality, he dedicated himself to saving every cent he could — from internship earnings, ang paos during Chinese New Year, to part-time jobs during school breaks. His goal was clear: to buy the luxury watch before his 21st birthday.
For over two years, Chan focused on his goal, with his friend and batchmate, Brandon Fong, recalling how Chan even skipped lunch outings to save more. His determination paid off when, just weeks before his birthday, he bought the coveted watch, a milestone moment in his life.
The luxury watch world is often associated with the wealthy, and many see watch collecting as an expensive hobby. But as Chan’s story illustrates, watch collecting is not only for the rich. With dedication and hard work, collecting can become a reality for anyone who truly values craftsmanship and design.
Chan’s collection now totals around S$19,000, including his prized Rolex Submariner. Luxury watch brands like Rolex have prices ranging from S$6,000 to over S$40,000, while more exclusive models, such as the Audemars Piguet Royal Oak Perpetual Calendar Limited Edition, can cost nearly half a million dollars.
But what makes these watches so expensive? For many collectors, the appeal lies in the craftsmanship. Rolex, for example, prides itself on hand-assembling its watches, a process that can take up to a year for a single timepiece. Other brands, like A. Lange & Sohne, take even longer, with some watches taking up to two years to create.
Chan was drawn to mechanical watches early on, fascinated by their intricate mechanisms. His first mechanical watch was a Seiko, a S$200 model recommended by a co-worker. This sparked a passion for horology — the study of clocks and watches — and Chan began researching watch designs, movements, and history.
Alongside Chan, Fong also became enamoured with watch collecting, purchasing his first mechanical Seiko at 18. Both of them spent countless hours learning about watch movements, appreciating the complexity of each piece in their growing collections.
For Chan, a well-made watch is more than just an accessory — it’s a timeless possession that can last a lifetime, even be passed down to future generations. Unlike electronics, which are designed to be replaced, a mechanical watch, when cared for properly, can be a permanent part of one’s life.
Even as a full-time student, Chan is committed to his passion, believing that luxury watches, though expensive, hold intrinsic value. They are not just accessories but pieces of craftsmanship that can become a part of one’s personal history.
However, the hobby does come with challenges. While some collectors view watches as investment pieces, with high-end models increasing in value over time, Chan and Fong focus on wearing and enjoying their watches, rather than keeping them as financial assets. They believe in the craftsmanship and history behind each watch, appreciating them for more than just their resale value.
Fong, who keeps his collection under a thousand dollars, focuses on watches like Seiko, which offers great value for the price. He believes that entry-level mechanical watches provide an affordable gateway into the world of horology, making the hobby accessible to more people.
For both Chan and Fong, collecting watches is a way of marking milestones in their lives. Whether it’s a birthday or graduation, each new watch is a reminder of their journey and achievements. It’s not about spending exorbitantly; it’s about appreciating the art and history behind each piece.
As they continue to grow their collections, Chan and Fong remain focused on finding watches that truly resonate with them, making their hobby about passion and appreciation rather than status or investment. And for those new to the world of watch collecting, their advice is simple: learn about the watches, understand their value, and find the pieces that speak to you.
