Nomos is a great comparison. Many nice pieces under $3500, some at half that, with a Nomos in-house movement. True, non-watch people won't know the difference, which is what he was counting on. A marketing strategy that relies on clueless purchasers seems problematic to me. Because even once 'non-watch people' start to do a little research they find out the truth. All that leaves are customers who want it because it's Dave's watch. In the end that's all he's got to offer; himself.
"Its not for watch people, Its not for the person who saves up months for a 2400 watch its for someone who goes to horse track and bets 2400 per race" ... wtf?! did i just hear that?
or maybe thats the biggest brain move of all... the blind leading the dumb! its how our gov is currently operating so why not? though i use that term very, very loosely with the current state of our gov.
What? Do you know who he is? He is the same someone that didn't know anything about media and gambling, but started a company he just sold for 450 million dollars. He took a risk, as he did in 2003. You don't think most businesses fail hundreds of times before getting it right?
@@hmd6202 I know exactly who he is and what he accomplished. But after listening to this interview, not only did he not know anything about the luxury watch market, he didn't hire anyone who did either. And all of these things were major factors in why this particular attempt is failing.
I run a watch company so couldn’t help but chip in. At 27:56 Dave says “It was never designed for those that are criticising it the most”. As watch enthusiasts we have to realise that Brick wasn’t made for us! Dave wanted his customers to be entrepreneurs to be able to relate to his story. It’s a good starting point, but from there he made a plethora of mistakes. From Dave’s perspective it’s clear he didn’t understand the divide between a fashion watch and a luxury watch, so he ended up building a fashion watch, while pricing it at the low end of the luxury segment. In his mind he thought he was creating a value proposition, which I’m sure he now realises in hindsight was naive. I can only assume the $400.00 valuation is based on single unit retail pricing. If Dave invested $3.7M into this (let’s say $3M on stock) then he’s clearly ordering in mass. I’d expect he’s paying closer to the $125.00 for the auto and $75.00 for the quartz chrono. (The fact that he then ‘averaged the costs’ to keep the same retail is… interesting to say the least.) Giving him some leeway, let’s say he’s actually paying $200.00 / $125.00. With a $3M investment, it means he’s probably ordered 18,000+ units of stock?!?! That’s pretty ballsy. I can only hope he’s been able to stop any ongoing production and cancel any factory orders to recover some of this investment. Great video chaps. I’d been looking forward to this one for weeks. Cheers, Richard
The $3.7 million probably includes everything involved in the company. Not just what he paid for inventory. He probably paid less than half of that on just inventory.
@@ItsNeverTooHot4Leather Probably if he was interested in dominating the watch market he would have done more research. He dominates internet space because that is his business. This is one of his hobbies. He doesn't care what watch snobs think nor should he.
@@SingleTrackMined It's not about dominating the watch market. Rolex has already done that, and Dave ain't gonna be competing with Rolex. It's about marketing and selling your product to a wide base, or as wide a base as possible, in order to make money and have a sustainable business. Dave made a big mistake by not understanding the broader market of watch consumers. You can't neglect the so-called "watch enthusiasts" while marketing your product only to people who have heard of him and Barstool. That will certainly lead to a backlash on social media and a loss of sales. I think his product ideals were/are good, those being supporting small businesses by donating a portion of his sales (consumers would take this into account in terms of the price markup). I think his mechanical watch (albeit a fashion watch) would have been far more tolerable at a price of $800-1000. His quartz watch needs be priced lower, I'd say around $400-600.
no chance, Peter broke it down on how much it would cost YOU to make it. As in if you were to make just 1 watch by itself with the same specs of the Brick watch, not bulk prices but how much it would cost to be each one as a one off for a singular watch
That's a component cost breakdown at RETAIL pricing, as in buying a single replacement part for repair. And the dial and hands pricing was a bit high. Purchasing directly from a Chinese manufacturer, the unit cost will be about HALF of the retail estimate, but you need to order typically 200-300 units minimum.
Should have brought a bunch of watches from longines and such that are at or around $2400 to show him what he’s competing with and how garbage his product is.
Longines is a perfect example. A real watch company with plenty of horological and historical credentials with many watches at a similar price point to these. While it’s true, there are many people who don’t care about names or history I don’t know any who fall into that category who would spend more than a couple of hundred bucks at the most and the majority would buy quartz and probably be encouraged by the mall store toward a Citizen ecodrive as it’s fit and forget, no battery changes just wear it. If they wanted under a hundred then the Timex display next to them fits the bill.
He could've but Dave would just claim that he see's no difference in quality. Probably because he wouldn't. Dave has fuck boy taste/aesthetic and can't tell the difference between something of quality and shit.
There are actually a ton of watches in that price point. Matter of fact that price point holds some of the best value in the industry. You've got Longines, Oris, Hamiltons, some Omegas, some of the best Microbrands, then you have got a ton of Vintage higher end options such as Grand Seiko, Cartier, Omegas, Universal Geneve etc. In regards to this watch, Dave should have priced it around $500-700 and it would have done alot better especially with the story attached to it.
I’m wearing my Longines right now that cost me 1150$ it’s sapphire crystal, a far better movement than the Ronda used in brick’s with a Longines calibre L288.. 316L stainless steel with a very nice Ceramic bezel, and of course a screw down crown. Even came with 2 other straps a silicone and a very nice leather. I actually love the all stainless and salmon dial of the Brick Chrono diver.. but I think his story about the Rolex price and then producing a watch that should be under $1200$ but is $2500 ehh leave a kinda bad taste in my mouth. And everyone else’s who knows anything about higher end brands and their worth.. I mean Jesus my Mathey Tissot Diver uses quality parts similar to Longines and Tag’s and I got that marked down at 429$ … and it wears better than my tag’s or my Longines… it’s not about the cost. It’s about how much the company that makes them cares 😬
@Marcelo Hendrix that does not cost $400 to make. And even if it was under $1k they would make profit. Since the company wasn't meant to really make profit according to Dave, even a small margin would be a win to get his Brick company message out there
@@kevco01010 the cost is actually wrong, he said he used American manufacturing, while the quality could be the same as a Chinese equivalent, the cost is much more, like double, so he might have paid say 900-1000, not knowing better.
I feel like alot of issues surrounding this are purely coming from the fact he is uninterested and uneducated in the watch world as a whole, yet choose it as an industry to go into, which I think will turn out as a mistake and that's coming from a dave fan! Either way we live and learn❤️
@TexasBulldog74 that's just him though and his approach to everything. It isnt just this scenario, whenever he feels like he is being opposed he wants to do anything to win that metaphorical battle. I think he should have stood on what he viewed it as instead of just going on attack lol I don't think he ever cared or does care about really gaining that true core watch fan.
No, the problem is that he thought he could get a quick cash grab by selling a cheap watch for a huge bonus. It wouldn't have been a problem if the price was right
@Joh pfit they all look for a cash grab man lol I think most of these influencers are just horrible humans. The people who invested still need to hold themselves accountable for listening to this idiot. This is the result of people being followers instead if having their own brain. Imo if your brain washed by these idiots online, it is natural selection
Ya what was he supposed to do see that the market for something is tanking and hop on board then? Typically if you’re going to start a business it’s because you see the market going in a strong direction
Your gripes can be applied to literally every industry in the country. You stating the obviously smarter choice and complaining about it is very unintelligent.
@@RL-ww5ev nothing if you in turn provide a quality product for a quality price. But this overpriced for the product and is in turn getting criticized.
I can shit on dave and his watches for many reasons, but I admire that he did this interview and didn’t dodge the bad press. Hopefully He learned from this
@watchtimeitisoninstagram7920that is Not what he said lol. He was saying if he was a consumer right now, and not a watch company, all that stuff meant nothing to him because all he wanted was watch that look nice and expensive.
Some value things that others don’t. I know millionaires that don’t give a shit about watches. Life goes on. Trust me no one gives a damn what watch we are wearing
if you were a gambling guy, you'd get it -- he likes betting so he'd rather have 4 bets at the track then own a rolex, simple cost benefit analysis in HIS brain. don't ascribe what you value to others
The main problem is that he is competing in the 2K-3K with watch brands like -vintage cartier -longines -Tag heuer -Omega -Breitling -Maurice lacroix -Oris -Frederique constant Like why would anyone buy it if they can buy Cartier tank, Omega speedmaster, Tudor black bay, Tag heuer carera, ML aikon, Oris aquis or Tissot PRX. Like why?
@@brandon1779 well the chrono brick costs 2,5K and you can find some speedmasters for 2,5K. I am not saying its the newest model but you can find some reduced speedmasters or speedmaster triple calendars on chrono24
@@brandon1779 obviously not saying any modern one😂 but cmon would you rather buy this quartz watch or vintage speedmaster? For me its so easy to answer
I think it's interesting that we get so many high profile examples of business ventures that go completely wrong because the person at the top didn't do the research of what they were getting themselves into. Dave says he didn't know anything about watches and with basically no research went head first with it and got the predictable result, reminds me of the big money guys backing FTX or the many failed companies of sucessfull billionaires. Makes you wonder if we should really listen to their advice or if they're just another lucky guy that kept failing upwards.
Ftx is completely different, ftx was a real, plain as day way to invest, with low tier watches, your getting what you pay for and if you don’t think so, don’t pay for it.
Yes you should take their advice. As a matter of fact Dave drops some gems in this video by mentioning the things that didn't go right. Those ventures that failed. If you wanna hit a homerun you gotta step up to the plate and swing. Are you guaranteed to hit a homerun every swing? No you are not, but you can still get a few base hits until you do connect and hit that homerun. You may also strikeout, does that mean you quit? No you just go back to the bench, analyze what you did wrong and go back out there and try it again. The more times you step up and swing, the increased odds that you will eventually hit a homerun. Don't give up, believe in yourself.
@@codygooch510 I would agree that barstool wasn’t lucky but that doesn’t mean his other ventures aren’t based on luck or his previous success being a sort of influence on his future success (example: just because people view him as successful they’ll support something he does.)
He has no idea that for most of the world no one knows him. His company is a US company. Until I saw reports about this company I had never heard of him. This is a bitsa watch which is fine at a certain price point, trouble is this is also a non descript watch, frankly, it’s bland and there are a ton of Kickstarter companies using the same parts but with much more interesting looks for around the $700 price point but on the used market go for half that. His biggest problem though is his ego! My advice to him is let it go, write it off on his taxes and go back to what he knows how to do. For the price he asks I can buy a TAG quartz or slightly used other Japanese or Swiss watches that have names I can trust and have a sense of value.
He’s not selling the watch to people who are shopping watches. He’s selling watches to people who don’t know and don’t care. It’s dumb but that’s obviously what is happening.
@@Poise716 and he is hardly failing because nobody cares about watches except watch people. The "fashion" people just wear what the influrencers are wearing that's it.
I doubt he even did that. If he didn't know the difference between a quartz and mechanical watch that means he had to do basically none. The "research" was probably just on the market, not watches themselves. Even to this day and in this interview he thought that thickness was a sign of quality haha. He so clearly doesn't know the very most basic watch information that you would learn within your first 5 minutes learning about watches.
Just checked the Brick site..........WTF?!!!!!! Lol. Lmao, uncontrollably. 3300 for a Chinese, assembled in America watch? Love Barstool, but this is a crime in progress. Looks like MVMT has some competition.
Ignore the fact that Dave Portnoy is involved with this watch. Remove his presence entirely. The bottom line is that the same quality automatic watch can be had for 1/4 of the price, and the quartz for about 1/10 of the price. That is the definition of a rip-off, and you don't have to be a "keyboard warrior" to say so.
Some pretty poor maths thrown about in order to go easy on Port. Nothing about buying in bulk, skipped the quartz. Suprised Adrian didn't kiss Ports shoes.
Why didn’t he sit down with actual watch people when creating these watches? Feel like one focus group with watch collectors would have solved 90% of the mistakes.
24:27 “He never tried to convince anybody that this is a wonderful timepiece” He literally did though. He compared the components and materials he used to Rolex. He said the only difference was the name on the dial, so his was actually a great deal.
I don’t like Dave at all, and I mean that at my core, but to say they went soft on him is a little ridiculous. Sure they didn’t rip into him like I’d have wanted (for entertainment value), but they said a lot of pretty harsh things to the guy about his own business directly to his face. Most of us wouldn’t do that. A lot of us will say we would in this comment section, but let’s be honest here… no you wouldn’t. I wouldn’t. Will I buy a brick watch? No. No shot. Dave is human. Dave made a large pricing error in my personal opinion, but that’s okay. It’s not for me
@@juiceplanet147 at least I’m not liking someone that puts themselves out there on the internet instead of some random guy named Jeff that I dislike just because? And I’m not saying that the fact I dislike him means he doesn’t deserve success or anything like that. I just dislike the person I perceive him to be, and that’s okay
He straight up called it a shit watch so they definitely didn't go soft you are right there Just treated him like a regular human and had a conversation and got the story from Dave
@@tensaiow5133 everyone does. But he could continue to make a ton of money within his expertise. Wanted to try something new he thought was cool. Clearly not a scheme to get rich.
16:40 this isn’t true at all. There’s dozens of watch brands in that price range. That’s the *whole* problem. Why would anyone with a $2400 budget buy a Brick Watch from “non-watch guy” Dave Portnoy? When they could buy an Oris, Longines, Sinn, Fortis, Formex, Hanhart, Tag Heuer, high end Tissot, high end Hamilton, high end Seiko, high end Mido, entry level Tudor, entry level Grand Seiko, used Omega, used Breitling, etc. People think the only two watch brands that exist are MVMT and Rolex.
Bingo. And this is why I believe this was completely designed to fail for tax purposes. It’s a traditional, legitimate product, and not controversial. I give Dave a lot of credit for getting people to believe he actually wanted to start a watch company.
@@CWYMAN77 Thus is one of the funniest takes that occasionally comes up. Why would someone spend x amount of dollars on something they know will fail with the intention of saving, in Dave's case, 37% of x in taxes? It makes no sense.
@@carterhart3979 First of all, just because he said he spent $3.7 million of his own money doesn’t mean it’s true. Secondly, he could have a million LLC’s or corporations that are designed to solely provide tax advantages. Just because you don’t understand how it can be done doesn’t mean it can’t be done. And even if he spent $3.7 million he could wind up claiming $10 million in losses, thus saving himself millions in other taxes. Get a clue.
Peter broke it down on how much it would cost YOU to make it. As in if you were to make just 1 watch by itself with the same specs of the Brick watch, not bulk prices but how much it would cost to be each one as a one off for a singular watch. Why would they lie 🤔
Interesting conversation, it's hard to justify this price though when there are brands like Christopher Ward coming out with quality SW510 Chronos for 1 - 1.5K
He kept saying it’s a wind up watch. Isn’t the sellita automatic? Haven’t seen the watch, but if it ends up at Target I’ll tell the wife to grab one. 😂
Seriously who is Dave Portnoy? NEVERMIND, I answered my own question with a 37 second search. I still don't give a shit, though the Ford Bronco t-shirt is pretty cool.
Very cool that Dave came on to talk about his Brick Watch Company. It was good to hear his reasoning (and lack thereof) behind this project. The conversation was very informative and revealing in many ways. I felt Dave was very honest and the conversation could probably be summed up when he said his watch wasn't made for "watch people". "Watch people" like myself knew it wasn't "made" for us from the moment we saw it though... 😅
How could you feel he was being honest? He says "I didn't know you were going to ask about this story but I keep the first watch someone ever gave me in my pocket just in case even though I'm wearing a watch right now" Seriously???
Correct. He didn’t realize he was going to face all these gatekeepers. Reminds me of the sneaker resellers calling everything bricks just because they aren’t hype and resell for thousands. Wear what you like, spend your money as you wish.
I call total bull 💩. Hes been seen wearing multiple watches. No way he didn’t understand the differences between a quartz and an automatic watch. Dave always plays the victim card every time something like this comes up. Any amount of research he would have seen the competition and landscape out there. He’s acting like he had no idea there were other watches between a 200 dollar shinolla and a 30k day date like if he can’t see them in any jewelry store or mall out there.
@@jimothyC92 What he says doesn't make sense. On one hand, he's not a watch guy he knows nothing about watches he doesn't enjoy them, so then why make a watch company? According to him it's not to make money. Maybe just like Musk it's just that being rich doesn't mean you're smart.
@@9e7exkbzvwpf7c doesn’t say he doesn’t enjoy watches. buying and wearing them are not high on the priority list of luxury items as vintage cars. He thought it would be a cool venture to get into, and has disposable income to try and buck a system and start his own company. Of course he wants it to succeed but he could do a million different ventures within his expertise to make a killing (which he does).
@@jimothyC92 If he enjoys watches why doesn't he understand the difference between a mechanical and a quartz watch? Why doesn't he know there's a large price difference? He literally says multiple times he knows NOTHING about watches, if you walked into a single store you'd know the difference between a mechanical watch and a quartz watch, let alone if you actually enjoyed them.
Lol those Brick watches are going to end up like the A-Roid shirts. Most people who don't know about watches aren't spending anywhere near 2.4K, unless they're trying to flex with a luxury brand.
His watches were low spec, shockingly ugly and shockingly expensive. What could go wrong? (Selling a horrible watch to people who wouldn't spend £100 on a watch for £2000+ watch. Dude couldn't be more out of touch!!)
These comments hahaha..... You are all so passionate at talking down at others. Imagine if you put that passion into something else, maybe you could be the one that spends 3.7 mil to start up your own watch company. Narcissism, look it up you half eaten yo-yo's cause at the end of the day sorry who are you? nobody? COOL JOIN THE PARTY AND SHUT UP 😆
We need y’all’s sales ability. Weiss Watch Company (American made watches)+small business watch making abilities and Dave’s brand /money to make an amazing watch company for a average guy.
Weiss watches are only partially American made (the hairspring, mainspring, jewels are Swiss) & and got dinged by the FTC in 2015 for claiming otherwise because of it. I think that's a stupid rule, but it is what it is. Perhaps Cameron Weiss has made some progress on that front since then as I see they claim "American Made" on their web page, but mostly it looks like their lawyer has found a middle ground that somewhat obscures where the non American movements and movement parts are made. With that said, the straight lugs, printed dials and ugly Weiss logo haven't changed at all. Have you seen their dive watch? It looks as terrible as the the Brick Classic '22.
I was a little worried that this video took a while to come out, but I think you guys did a really good job. Seemed fair and logical. His lack of knowledge of watches and not consulting with people like yourself who are experts ultimately doomed his product. I definitely do get the sense that he wasn't trying to scam anyone though which is good.
I understand your point about consulting watch experts, but like what does that cost? 100k? 20% equity in his business? Experts arent just handing out their knowledge for free
His watch is generic garbage, $2,400 is insulting and I’m extremely skeptical of the 5-600$ value they came up. You can buy buy a better finished watch with an identical movement or better for $300
It's hard to believe an intelligent guy, with his level of success, could put up that kind of money with no research, or expertise, or the hiring of experts to manage this release. Arrogance or stupidity.
He is selling the watches for a 3x multiplier. He is moving them. Many folks will find value in what he is selling. Many. Just because it isn't you doesn't mean he is wrong.
@@CouveOne He literally admitted himself that its a failure. He's not moving a lot just because you want it to be true. The only folks finding "value' in these watches are complete idiots or sycophants. It would be like buying a 2015 Honda Civic with Portnoy's name on it for the price of a new BMW.
I think any celebrity or important figure has to realize that the majority of their fanbase are normal people with normal jobs. So try to make something that a majority of your fan base can purchase. And capitalize off of that fact, its simply a good business move. I feel like he’s losing millions simply due to the fact that he’s not doing that. If im a big portney fan, ill take a chance for $200 out of the love I have for that person. At $2400, I want a quality watch made by people who have been in that industry for years etc.
21:45 "Once you're there you can use your name a lot like Warren Buffet. For this, every penny has been a grind, every penny I make people are calling me a scumbag." So Dave's saying his name usually works for cash grabs with minimum effort. He put out a shit product in a market he didn't understand and he didn't bother to research because why bother, he knows his name will carry. Didn't work this time, so let's blame the market and the "watch nerds." Dude would've been better off saying nothing lol
Dave made his money himself with his talent and hard work. You can criticize the watch but never him. He doesn't do "cash grabs". You'd know that if you knew anything about the guy but you obv don't. Best not to talk about subjects you don't know anything about.
@@SingleTrackMined portnoy fan coping that he thinks so low of his own fan base that he could sell a happy meal or teenage drop-shipper quality product for 2400 bucks to his own fans just because he slaps his name on it. And btw even if you’re cringe simp take on him being such a hard worker is totally accurate, it doesn’t negate the fact that this watch thing is an obvious cash grab. It’s possible to build a fan base through genuine hard work, and once you have it grift off them via misleading/shady cash grabs. The Rock grifted off his fans with an NFT project, Floyd Mayweather literally shills for any product that pays him, you could accurately call those things “cash grabs” and you wouldn’t be denying that either of those guys worked hard in life to get to where they are. You’re clearly just coping that a guy who you’ve made a personal connection with in you’re own psyche doesn’t think of you as anything more than a statistical number on a screen that he can extract money from
@@LT-xb5su there are so many other things w someone if his influence on his fan base to do that would be a way more convenient cash grab.. he’s not scamming any1, even if the watch is $250 to make not $500 that’s still a similar markup to most watch brands.. you could argue he doesn’t deserve to mark it up that high bc he’s a new player in the watch game but it’s not like his markups are unreasonable to other watch brands.. I have no dog in the fight I thought it was a great interview they were both fair, honest and harsh when needed but It’s not right to say this is a scam which I think ppl are implying g when they say cash grab
The watch is a basic watch. Who cares. Don’t buy it. Tissot and Hamilton produce quality watches for less than $700.. shit, even a $100 Seiko off of Amazon are made with a better movement.
Good job guys. It’s all exactly what I already knew. The guy is selling watches to people that don’t care about watches like himself. Is that dumb? Yea probably.
I thought this “sit down” was absolutely fantastic. Thank You for allowing Dave to be Dave and you guys being classy while conducting the interview. 👊👍
For someone to pay 2k+ for a watch, they are likely watch people or the type of person to go to the store and get a Tag or Breitling. Surprised this is $400 in parts, but there’s no market for it. The other fashion watches sell because anyone can afford them.
It’s $400 in parts if you pay retail for each part. In bulk my guess is half or less (probably less bc the movement would be well less in bulk). And he’s also selling Ronda quartz for $2400 which is more egregious.
Could be a huge idea....Dave sells these fashion watches without a clue. Obviously was a huge marketing win. Now from here they actually take it to the next level and put out a real watch🧐
I respect him for sitting down and discussing it, but god damn this guy is not a businessman. He did zero market research before dropping $3.7 million dollars into an industry he knew nothing about. How is he successful at anything?
I don’t think it’s bad, it just not a smart move. Most non watch people either don’t wear watches or just buy an Apple Watch. Also non watch people find $500 expensive for a watch let along 2k
@@RiseUpToYourAbility it is bad because the price point of the watch doesn’t not reflect the value of the watch. Selling watches to not watch people is exploitation and puts crap into the market. Cynical. Creating businesses should be about value not exploitation.
What makes me cross is Dave seems to be in total denial that he's out of his depth and is incredibly dissrespectfull of so called watch nerds, who if he had a decently priced product with genuine integrity would be his customers not his haters......do your homework next time mate.......
Haven’t noticed this guy before, his story or his company. By watching the first minutes of this video, I wouldn’t want to do business with him. Seems to be all about the money without any passion for anything.
One thing that the watch cost breakdown didn't account for was wholesale vs retail pricing. I posted a breakdown on IG and came very close to what the Luxury Bazaar team did, at $435, but I also included packaging and assembly costs. But the parts unit cost are based on RETAIL pricing availability. I've also enquired directly from a Chinese manufacturer and purchased a sample at WHOLESALE unit cost for a more complex spec watch (ceramic bezel 300m diver) and the unit cost was $246! (MOQ 200-300) And as for marketing costs, that's probably a factor into Dave's decision to do this because the cost is basically zero because of his personal brand. If he wants to drop the price to $900, still give %20 to small business, he'll do ok. If he launched at this price no REAL watch nerd would have batted an eye. He would have got a little bit of backlash just because but not to this level. Oh, and he NEVER should have compared it to being the same as Rolex except for the name on the dial...
@Leggo My Ego you think anything sold to you doesn't have at least a 3x mark-up? Can you name somthing? What do you think the swiss have access to that china doesn't? Add branding/a name and that's easily an 8x mark-up.
Yeah the watch is crap 2400 ha ha actually I take that back I just went into the website and looked at his watches and it reminded me of a swiss army watch . Nice looking watch but not worth 2400 dollars worth at most 800 to 1200 .
with all the logan paul crap coming out, this has crazy similar vibes listening to Portnoy try to explain why it isn't a cash grab and why he's all of a sudden interested in watches.
The watches look real nice. If he was willing to get the price down under a thousands bucks people would pay more than 5 seconds attention to the actual product
If we want to break down the cost of things…all things of value hold it inherently in their brand recognition. Not really in the individual components. You think a Richard Mille costs six figures to make? Fuck no.
This is not a $500-600 dollar watch at cost, Peter broke it down to $400 and thats retail prices on Ebay where people make money on. So buy in bulk and wholesale this price is coming down to $200 at least. The only expensive thing in this watch is the movement all the rest is tops $50 but there is also a variant with quartz chronograph that movement cost only about $30
@@zachkrause6534 no. Would’ve been 800 profit at wholesale cost. Even with 20% to charity, the marketing expenses are non-existent since he’s promoting it himself.
At 30:27 Dave tries to use the massive thickness of his watches as a flex. Compares it to the Shinola that is much thinner and indicates his is better because "isn't that important, how thick it is, because of all the shit in there?" ...
He called the watch and parts “sh%t” to his face so there’s that. 😝
I couldnt believe I had to scroll down this far to see someone else he caught that, had me weak
Nomos is a great comparison. Many nice pieces under $3500, some at half that, with a Nomos in-house movement. True, non-watch people won't know the difference, which is what he was counting on. A marketing strategy that relies on clueless purchasers seems problematic to me. Because even once 'non-watch people' start to do a little research they find out the truth. All that leaves are customers who want it because it's Dave's watch. In the end that's all he's got to offer; himself.
"Its not for watch people, Its not for the person who saves up months for a 2400 watch its for someone who goes to horse track and bets 2400 per race" ... wtf?! did i just hear that?
That type of price point is incredibly crowded with watchmakers that offer insane value with insane heritage...this is not one of those
I'm a big fan of Dave and Barstool. This is so cool to see him on here. He is at least owning what he is saying.
El Pres you're the MAN! One of the greatest to ever come out of the 617!
I had no idea who you were until I watched the famous viral Alex stein video.
This is a real interview......a hard one
Someone who doesn’t know anything about watches shoudn’t start a watch company for people who don’t know anything about watches.
or maybe thats the biggest brain move of all... the blind leading the dumb! its how our gov is currently operating so why not? though i use that term very, very loosely with the current state of our gov.
What? Do you know who he is? He is the same someone that didn't know anything about media and gambling, but started a company he just sold for 450 million dollars. He took a risk, as he did in 2003. You don't think most businesses fail hundreds of times before getting it right?
Did you not watch the interview? Its is oblivious that you came to this video with bias and did not allow yourself to hear anything.
@@hmd6202 I know exactly who he is and what he accomplished. But after listening to this interview, not only did he not know anything about the luxury watch market, he didn't hire anyone who did either. And all of these things were major factors in why this particular attempt is failing.
@@hmd6202 There isn't even anything special or unique about these watches either. Again, nobody knows anything about the watch market.
I run a watch company so couldn’t help but chip in.
At 27:56 Dave says “It was never designed for those that are criticising it the most”. As watch enthusiasts we have to realise that Brick wasn’t made for us! Dave wanted his customers to be entrepreneurs to be able to relate to his story. It’s a good starting point, but from there he made a plethora of mistakes.
From Dave’s perspective it’s clear he didn’t understand the divide between a fashion watch and a luxury watch, so he ended up building a fashion watch, while pricing it at the low end of the luxury segment. In his mind he thought he was creating a value proposition, which I’m sure he now realises in hindsight was naive.
I can only assume the $400.00 valuation is based on single unit retail pricing. If Dave invested $3.7M into this (let’s say $3M on stock) then he’s clearly ordering in mass. I’d expect he’s paying closer to the $125.00 for the auto and $75.00 for the quartz chrono. (The fact that he then ‘averaged the costs’ to keep the same retail is… interesting to say the least.)
Giving him some leeway, let’s say he’s actually paying $200.00 / $125.00. With a $3M investment, it means he’s probably ordered 18,000+ units of stock?!?! That’s pretty ballsy. I can only hope he’s been able to stop any ongoing production and cancel any factory orders to recover some of this investment.
Great video chaps. I’d been looking forward to this one for weeks.
Cheers,
Richard
Wow are you the real audio underd0g?
Perfectly put…..when can I buy one your watches 🙏
Bingo, there's a reason why smart people stage product launches. That's a ton of inventory to invest without a proof of concept.
You know your shizz
The $3.7 million probably includes everything involved in the company. Not just what he paid for inventory. He probably paid less than half of that on just inventory.
Dave’s wristwatch ignorance and comfort with it is weirdly refreshing. 😂
I thought the same thing, brought me back to the early days of my watch interest 😂
I found it sad.
Soooooo many false assumptions about a specific market from Dave. Astonishing the lack of product and market research that was done.
@@ItsNeverTooHot4Leather Probably if he was interested in dominating the watch market he would have done more research. He dominates internet space because that is his business. This is one of his hobbies. He doesn't care what watch snobs think nor should he.
@@SingleTrackMined It's not about dominating the watch market. Rolex has already done that, and Dave ain't gonna be competing with Rolex. It's about marketing and selling your product to a wide base, or as wide a base as possible, in order to make money and have a sustainable business. Dave made a big mistake by not understanding the broader market of watch consumers. You can't neglect the so-called "watch enthusiasts" while marketing your product only to people who have heard of him and Barstool. That will certainly lead to a backlash on social media and a loss of sales. I think his product ideals were/are good, those being supporting small businesses by donating a portion of his sales (consumers would take this into account in terms of the price markup). I think his mechanical watch (albeit a fashion watch) would have been far more tolerable at a price of $800-1000. His quartz watch needs be priced lower, I'd say around $400-600.
I own a Nomos Club Campus for under that price point, handmade mechanical watch from Germany, incredible build quality.
There's no way in hell that watch costs $500 to make. How are all of these micro brands making wayyyy better watches and selling for like $500-$800?
Realistically these are $100 per unit
They listed retail prices, realistically he is paying maybe half of that.
no chance, Peter broke it down on how much it would cost YOU to make it. As in if you were to make just 1 watch by itself with the same specs of the Brick watch, not bulk prices but how much it would cost to be each one as a one off for a singular watch
@@averagemike2171 Half still seems high.
That's a component cost breakdown at RETAIL pricing, as in buying a single replacement part for repair. And the dial and hands pricing was a bit high. Purchasing directly from a Chinese manufacturer, the unit cost will be about HALF of the retail estimate, but you need to order typically 200-300 units minimum.
Should have brought a bunch of watches from longines and such that are at or around $2400 to show him what he’s competing with and how garbage his product is.
Nah they just kiss his ass zero criticism.
Good point. I actually did this in my video when comparing Brick.
Longines is a perfect example. A real watch company with plenty of horological and historical credentials with many watches at a similar price point to these. While it’s true, there are many people who don’t care about names or history I don’t know any who fall into that category who would spend more than a couple of hundred bucks at the most and the majority would buy quartz and probably be encouraged by the mall store toward a Citizen ecodrive as it’s fit and forget, no battery changes just wear it. If they wanted under a hundred then the Timex display next to them fits the bill.
You can pick up an Omega for that much.
He could've but Dave would just claim that he see's no difference in quality. Probably because he wouldn't. Dave has fuck boy taste/aesthetic and can't tell the difference between something of quality and shit.
There are actually a ton of watches in that price point. Matter of fact that price point holds some of the best value in the industry. You've got Longines, Oris, Hamiltons, some Omegas, some of the best Microbrands, then you have got a ton of Vintage higher end options such as Grand Seiko, Cartier, Omegas, Universal Geneve etc. In regards to this watch, Dave should have priced it around $500-700 and it would have done alot better especially with the story attached to it.
Pretty much impossible if the cost of making it is $400
I’m wearing my Longines right now that cost me 1150$ it’s sapphire crystal, a far better movement than the Ronda used in brick’s with a Longines calibre L288.. 316L stainless steel with a very nice Ceramic bezel, and of course a screw down crown. Even came with 2 other straps a silicone and a very nice leather. I actually love the all stainless and salmon dial of the Brick Chrono diver.. but I think his story about the Rolex price and then producing a watch that should be under $1200$ but is $2500 ehh leave a kinda bad taste in my mouth. And everyone else’s who knows anything about higher end brands and their worth.. I mean Jesus my Mathey Tissot Diver uses quality parts similar to Longines and Tag’s and I got that marked down at 429$ … and it wears better than my tag’s or my Longines… it’s not about the cost. It’s about how much the company that makes them cares 😬
so make a product that makes no money?
@Marcelo Hendrix that does not cost $400 to make. And even if it was under $1k they would make profit. Since the company wasn't meant to really make profit according to Dave, even a small margin would be a win to get his Brick company message out there
@@kevco01010 the cost is actually wrong, he said he used American manufacturing, while the quality could be the same as a Chinese equivalent, the cost is much more, like double, so he might have paid say 900-1000, not knowing better.
I feel like alot of issues surrounding this are purely coming from the fact he is uninterested and uneducated in the watch world as a whole, yet choose it as an industry to go into, which I think will turn out as a mistake and that's coming from a dave fan! Either way we live and learn❤️
But he's being stubborn and refusing to learn thinking trying to call watch people out is the right way to handle it.
@TexasBulldog74 that's just him though and his approach to everything. It isnt just this scenario, whenever he feels like he is being opposed he wants to do anything to win that metaphorical battle. I think he should have stood on what he viewed it as instead of just going on attack lol I don't think he ever cared or does care about really gaining that true core watch fan.
No, the problem is that he thought he could get a quick cash grab by selling a cheap watch for a huge bonus.
It wouldn't have been a problem if the price was right
@Joh pfit they all look for a cash grab man lol I think most of these influencers are just horrible humans. The people who invested still need to hold themselves accountable for listening to this idiot. This is the result of people being followers instead if having their own brain. Imo if your brain washed by these idiots online, it is natural selection
@@johpfit760 did you watch the video? it literally says the average markup is 8x.. so him selling it less than that would’ve been a mistake
Cringe. This whole interview is like when a family member brings a douchebag to Thanksgiving and you have to play nice.
Hublot "Everyone hates us!"
Brick "hold my beer!"
Dave's on the watch promo tour. Everybody knows the rules
its honestly pathetic that they are not being honest about the watch. it looks cheap imo
Are we going to pretend he didnt see an uptick in watch prices and tried to get in on the gravy train?
No doubt.
and what's wrong with that
Ya what was he supposed to do see that the market for something is tanking and hop on board then? Typically if you’re going to start a business it’s because you see the market going in a strong direction
Your gripes can be applied to literally every industry in the country. You stating the obviously smarter choice and complaining about it is very unintelligent.
@@RL-ww5ev nothing if you in turn provide a quality product for a quality price. But this overpriced for the product and is in turn getting criticized.
I can shit on dave and his watches for many reasons, but I admire that he did this interview and didn’t dodge the bad press. Hopefully He learned from this
That’s why he’s great
@watchtimeitisoninstagram7920that is Not what he said lol. He was saying if he was a consumer right now, and not a watch company, all that stuff meant nothing to him because all he wanted was watch that look nice and expensive.
Portnoy is paying these guys to clean up his image & shill him into the watch community I don't respect this at all ..
500$ for us to buy it, the wholesale price for him is under 200 at least. You think he's paying 25$ per set of watch hands?? 😆
Dave: I'm not going to spend 10k on a watch, that's crazy.
Also Dave: I go to the horse track and bet $2.4k minimum on one race.
Yup, got it.
Some value things that others don’t. I know millionaires that don’t give a shit about watches. Life goes on. Trust me no one gives a damn what watch we are wearing
I won’t be crying over broken 2.4k watch lol. Wish I was rich like him and say the same thing lol
he has made many many wages of $50k+(he makes them every weekend)
You don’t gut it
if you were a gambling guy, you'd get it -- he likes betting so he'd rather have 4 bets at the track then own a rolex, simple cost benefit analysis in HIS brain. don't ascribe what you value to others
The main problem is that he is competing in the 2K-3K with watch brands like
-vintage cartier
-longines
-Tag heuer
-Omega
-Breitling
-Maurice lacroix
-Oris
-Frederique constant
Like why would anyone buy it if they can buy Cartier tank, Omega speedmaster, Tudor black bay, Tag heuer carera, ML aikon, Oris aquis or Tissot PRX. Like why?
Where are you getting a speedmaster for 2k?? Unless you are talking about a reduced or vintage
@@brandon1779 well the chrono brick costs 2,5K and you can find some speedmasters for 2,5K. I am not saying its the newest model but you can find some reduced speedmasters or speedmaster triple calendars on chrono24
@@brandon1779 obviously not saying any modern one😂 but cmon would you rather buy this quartz watch or vintage speedmaster? For me its so easy to answer
@@karelvavra9617 Exactly!
Yup. Heck, you can even find an old Rolex date-just for $2,400 if you do some digging.
If you've got $2400 to buy a watch, get a Tudor, a Seiko or 2, a Hamilton...
With that screen name….NO
At this price point, I'd buy Longines all day.
With a prx and gshock thrown. A nice little collection!
Regardless of price point Longines is 🔥
Not sure what research he did but he doesn’t even know the basics.
I think it's interesting that we get so many high profile examples of business ventures that go completely wrong because the person at the top didn't do the research of what they were getting themselves into.
Dave says he didn't know anything about watches and with basically no research went head first with it and got the predictable result, reminds me of the big money guys backing FTX or the many failed companies of sucessfull billionaires.
Makes you wonder if we should really listen to their advice or if they're just another lucky guy that kept failing upwards.
Ftx is completely different, ftx was a real, plain as day way to invest, with low tier watches, your getting what you pay for and if you don’t think so, don’t pay for it.
Educate yourself on how Dave built Barstool from nothing to $1 billion company.
Yes you should take their advice. As a matter of fact Dave drops some gems in this video by mentioning the things that didn't go right. Those ventures that failed. If you wanna hit a homerun you gotta step up to the plate and swing. Are you guaranteed to hit a homerun every swing? No you are not, but you can still get a few base hits until you do connect and hit that homerun. You may also strikeout, does that mean you quit? No you just go back to the bench, analyze what you did wrong and go back out there and try it again. The more times you step up and swing, the increased odds that you will eventually hit a homerun. Don't give up, believe in yourself.
Barstool definitely wasn’t luck. A lot of people have to get lucky plus the hard work to get rich but you can’t just say Dave is rich because of luck.
@@codygooch510 I would agree that barstool wasn’t lucky but that doesn’t mean his other ventures aren’t based on luck or his previous success being a sort of influence on his future success (example: just because people view him as successful they’ll support something he does.)
Dave: "I wanted it made in the USA."
The dial literally says "China" on the back!
Literally said he realized he couldn’t do that lol
@@jimothyC92 Yes, but his tone was such that it was because some intricate parts can't be found in the US for a reasonable price. The face though? lol
The dial of the watch is on the face, so it couldn't have "China" on the back.
He has no idea that for most of the world no one knows him. His company is a US company. Until I saw reports about this company I had never heard of him. This is a bitsa watch which is fine at a certain price point, trouble is this is also a non descript watch, frankly, it’s bland and there are a ton of Kickstarter companies using the same parts but with much more interesting looks for around the $700 price point but on the used market go for half that.
His biggest problem though is his ego! My advice to him is let it go, write it off on his taxes and go back to what he knows how to do. For the price he asks I can buy a TAG quartz or slightly used other Japanese or Swiss watches that have names I can trust and have a sense of value.
Did not see an ego
He’s not selling the watch to people who are shopping watches. He’s selling watches to people who don’t know and don’t care. It’s dumb but that’s obviously what is happening.
@@Poise716 and he is hardly failing because nobody cares about watches except watch people. The "fashion" people just wear what the influrencers are wearing that's it.
@@djwavegod3571 perhaps arrogant is a better word.
He's hardly failing? How do you figure? He put $3m of his own money into it. Zero chance he's made anywhere near that in sales let alone profit.
This dude is on bozo alert in terms of watches and understanding them. That one month of research must of been all he did.
Imagine having so much money that you drop $3.7 million on a watch business without knowing the difference between quartz and automatic.
I doubt he even did that. If he didn't know the difference between a quartz and mechanical watch that means he had to do basically none. The "research" was probably just on the market, not watches themselves. Even to this day and in this interview he thought that thickness was a sign of quality haha. He so clearly doesn't know the very most basic watch information that you would learn within your first 5 minutes learning about watches.
Benzos he's on benzos....
Just checked the Brick site..........WTF?!!!!!! Lol. Lmao, uncontrollably. 3300 for a Chinese, assembled in America watch? Love Barstool, but this is a crime in progress. Looks like MVMT has some competition.
What a complete disaster of a business move. Please relate this story to whatever is going on in your life and learn from it….
This really is a great podcast. First time watching, but I learned so much. Thank you guys.
Glad you enjoyed it!
Ignore the fact that Dave Portnoy is involved with this watch. Remove his presence entirely. The bottom line is that the same quality automatic watch can be had for 1/4 of the price, and the quartz for about 1/10 of the price.
That is the definition of a rip-off, and you don't have to be a "keyboard warrior" to say so.
Some pretty poor maths thrown about in order to go easy on Port.
Nothing about buying in bulk, skipped the quartz.
Suprised Adrian didn't kiss Ports shoes.
Bottom line: those who buy this watch are getting scammed.
Why didn’t he sit down with actual watch people when creating these watches? Feel like one focus group with watch collectors would have solved 90% of the mistakes.
I suspect he had a dishonest advisor or two blowing smoke, and then just wilful ignorance on his part.
I would rather take a Nomos as a graduation gift than this haha
Gotta give Dave credit for coming on here not too many people would show face and address like Dave has done
24:27 “He never tried to convince anybody that this is a wonderful timepiece”
He literally did though. He compared the components and materials he used to Rolex. He said the only difference was the name on the dial, so his was actually a great deal.
First time watching this channel. These 2 guys speak extremely well and very knowledgeable. Very cool
I don’t like Dave at all, and I mean that at my core, but to say they went soft on him is a little ridiculous. Sure they didn’t rip into him like I’d have wanted (for entertainment value), but they said a lot of pretty harsh things to the guy about his own business directly to his face. Most of us wouldn’t do that. A lot of us will say we would in this comment section, but let’s be honest here… no you wouldn’t. I wouldn’t.
Will I buy a brick watch? No. No shot. Dave is human. Dave made a large pricing error in my personal opinion, but that’s okay. It’s not for me
Not liking someone you don't know is weird... He hates you too I'm sure
@@juiceplanet147 at least I’m not liking someone that puts themselves out there on the internet instead of some random guy named Jeff that I dislike just because? And I’m not saying that the fact I dislike him means he doesn’t deserve success or anything like that. I just dislike the person I perceive him to be, and that’s okay
@watchtimeitisoninstagram7920 and taking the criticisms very well. Both parties were being honest, and I think it’s shows through fairly well.
He straight up called it a shit watch so they definitely didn't go soft you are right there
Just treated him like a regular human and had a conversation and got the story from Dave
Drink every time you hear, ‘I didn’t / don’t know’.
It’s better than lying out of your ass.
“Im not a watch guy” “We’re not watch people”. Why would you start a watch company?? There’s zero passion in this 😂😂
Don’t need passion to make money
Wanted to do something different
Passion for making money, nephew…
@@tensaiow5133 everyone does. But he could continue to make a ton of money within his expertise. Wanted to try something new he thought was cool. Clearly not a scheme to get rich.
Ashkenazis can't resist a grift for shekels from the goy
Looks crap, and obvious owned and designed by a non watch guy. Zero passion cash grab
i prefer buying the oris aqua date
He should just say I saw a crazy uptick in the watch world and wanted to make money. Epic fail sorry guys. Would respect that way more
He called watch people morons. Surprised these hosts are sticking up for him so much during the video.
Yeah,cos they sold cheap fake ray bans...go figure....
16:40 this isn’t true at all. There’s dozens of watch brands in that price range. That’s the *whole* problem. Why would anyone with a $2400 budget buy a Brick Watch from “non-watch guy” Dave Portnoy? When they could buy an Oris, Longines, Sinn, Fortis, Formex, Hanhart, Tag Heuer, high end Tissot, high end Hamilton, high end Seiko, high end Mido, entry level Tudor, entry level Grand Seiko, used Omega, used Breitling, etc. People think the only two watch brands that exist are MVMT and Rolex.
Bravo🥂
"I couldn't justify spending 30k on a watch so I spent 3.7 million on a watch company."
Bingo. And this is why I believe this was completely designed to fail for tax purposes. It’s a traditional, legitimate product, and not controversial. I give Dave a lot of credit for getting people to believe he actually wanted to start a watch company.
@@CWYMAN77 Thus is one of the funniest takes that occasionally comes up. Why would someone spend x amount of dollars on something they know will fail with the intention of saving, in Dave's case, 37% of x in taxes? It makes no sense.
@@carterhart3979 First of all, just because he said he spent $3.7 million of his own money doesn’t mean it’s true. Secondly, he could have a million LLC’s or corporations that are designed to solely provide tax advantages. Just because you don’t understand how it can be done doesn’t mean it can’t be done. And even if he spent $3.7 million he could wind up claiming $10 million in losses, thus saving himself millions in other taxes. Get a clue.
I’d spend 300k far more easily than buying 2000k sneakers. Act your wage brother
With his money either one matters about the same to him. He could spend 37 million if he felt like. Does that bother you?
Good interview and good for Dave doing this interview.
These watches do NOT cost him $500 per unit. You guys trying to uphold that is foul play.
Peter broke it down on how much it would cost YOU to make it. As in if you were to make just 1 watch by itself with the same specs of the Brick watch, not bulk prices but how much it would cost to be each one as a one off for a singular watch. Why would they lie 🤔
Exactly. Maybe for a single production piece but when you do a big production like he most have done, the unit cost is likely no more than $100..
Interesting conversation, it's hard to justify this price though when there are brands like Christopher Ward coming out with quality SW510 Chronos for 1 - 1.5K
He kept saying it’s a wind up watch. Isn’t the sellita automatic? Haven’t seen the watch, but if it ends up at Target I’ll tell the wife to grab one. 😂
He doesn't even know the term automatic and is referring to automatics as wind-ups, and quartz as battery.. 🤦🏽♂️🤦🏽♂️
Calling Derek Guy and Jeremy from Blamo keyboard warriors is hilarious, these are legit people that know the watch industry
They’re not the only people who have criticised these watches. Hundreds of people have.
Yet they keep mentioning their criticisms. Not to mention that portnoy made multiple videos responding to Derek guy’s specific criticism
Seriously who is Dave Portnoy? NEVERMIND, I answered my own question with a 37 second search. I still don't give a shit, though the Ford Bronco t-shirt is pretty cool.
Very cool that Dave came on to talk about his Brick Watch Company. It was good to hear his reasoning (and lack thereof) behind this project. The conversation was very informative and revealing in many ways. I felt Dave was very honest and the conversation could probably be summed up when he said his watch wasn't made for "watch people". "Watch people" like myself knew it wasn't "made" for us from the moment we saw it though... 😅
How could you feel he was being honest? He says "I didn't know you were going to ask about this story but I keep the first watch someone ever gave me in my pocket just in case even though I'm wearing a watch right now"
Seriously???
@@fark69 That's what you took from this?
@@fark69inspector gadget
To be fair he went in this thinking it will be like selling clothing and didnt know he would open up a can of worms
Correct. He didn’t realize he was going to face all these gatekeepers. Reminds me of the sneaker resellers calling everything bricks just because they aren’t hype and resell for thousands. Wear what you like, spend your money as you wish.
Holy shot, those watches are a fucking joke, 2350 for an ugly quartz chrono😆
So basically he dive in to a business with little to no knowledge then gets mad when consumers say hes product is a trash. 🤣
That’s actually not how it went. People aren’t buying the watch because people think it’s a scam. People who actually buy the watch like the product
I call total bull 💩. Hes been seen wearing multiple watches. No way he didn’t understand the differences between a quartz and an automatic watch. Dave always plays the victim card every time something like this comes up. Any amount of research he would have seen the competition and landscape out there. He’s acting like he had no idea there were other watches between a 200 dollar shinolla and a 30k day date like if he can’t see them in any jewelry store or mall out there.
he saw a watch company as an easy cash grab with huge profit margins
Exactly
Didn’t watch the video lol
@@jimothyC92 What he says doesn't make sense. On one hand, he's not a watch guy he knows nothing about watches he doesn't enjoy them, so then why make a watch company? According to him it's not to make money.
Maybe just like Musk it's just that being rich doesn't mean you're smart.
@@9e7exkbzvwpf7c doesn’t say he doesn’t enjoy watches. buying and wearing them are not high on the priority list of luxury items as vintage cars. He thought it would be a cool venture to get into, and has disposable income to try and buck a system and start his own company. Of course he wants it to succeed but he could do a million different ventures within his expertise to make a killing (which he does).
@@jimothyC92 If he enjoys watches why doesn't he understand the difference between a mechanical and a quartz watch? Why doesn't he know there's a large price difference? He literally says multiple times he knows NOTHING about watches, if you walked into a single store you'd know the difference between a mechanical watch and a quartz watch, let alone if you actually enjoyed them.
Sounds like Dave just should of bought the Rolex 😂
This was a good interview. Thank you for doing this.
Lol those Brick watches are going to end up like the A-Roid shirts. Most people who don't know about watches aren't spending anywhere near 2.4K, unless they're trying to flex with a luxury brand.
His watches were low spec, shockingly ugly and shockingly expensive. What could go wrong? (Selling a horrible watch to people who wouldn't spend £100 on a watch for £2000+ watch. Dude couldn't be more out of touch!!)
These comments hahaha..... You are all so passionate at talking down at others. Imagine if you put that passion into something else, maybe you could be the one that spends 3.7 mil to start up your own watch company. Narcissism, look it up you half eaten yo-yo's cause at the end of the day sorry who are you? nobody? COOL JOIN THE PARTY AND SHUT UP 😆
We need y’all’s sales ability. Weiss Watch Company (American made watches)+small business watch making abilities and Dave’s brand /money to make an amazing watch company for a average guy.
Weiss watches are only partially American made (the hairspring, mainspring, jewels are Swiss) & and got dinged by the FTC in 2015 for claiming otherwise because of it. I think that's a stupid rule, but it is what it is. Perhaps Cameron Weiss has made some progress on that front since then as I see they claim "American Made" on their web page, but mostly it looks like their lawyer has found a middle ground that somewhat obscures where the non American movements and movement parts are made. With that said, the straight lugs, printed dials and ugly Weiss logo haven't changed at all. Have you seen their dive watch? It looks as terrible as the the Brick Classic '22.
I was a little worried that this video took a while to come out, but I think you guys did a really good job. Seemed fair and logical. His lack of knowledge of watches and not consulting with people like yourself who are experts ultimately doomed his product. I definitely do get the sense that he wasn't trying to scam anyone though which is good.
I understand your point about consulting watch experts, but like what does that cost? 100k? 20% equity in his business? Experts arent just handing out their knowledge for free
@@ElDiabloBlanco31 I'm confused, I never said they are free? It's something he should have done and paid for.
His watch is generic garbage, $2,400 is insulting and I’m extremely skeptical of the 5-600$ value they came up. You can buy buy a better finished watch with an identical movement or better for $300
It's hard to believe an intelligent guy, with his level of success, could put up that kind of money with no research, or expertise, or the hiring of experts to manage this release. Arrogance or stupidity.
He's not intelligent. Idiots get rich all of the time.
He is selling the watches for a 3x multiplier. He is moving them. Many folks will find value in what he is selling. Many. Just because it isn't you doesn't mean he is wrong.
@@CouveOne He's not selling them at 3x cost or anywhere near that lol
@@CouveOne He literally admitted himself that its a failure. He's not moving a lot just because you want it to be true. The only folks finding "value' in these watches are complete idiots or sycophants. It would be like buying a 2015 Honda Civic with Portnoy's name on it for the price of a new BMW.
@@CouveOnelol, lmao even
I think any celebrity or important figure has to realize that the majority of their fanbase are normal people with normal jobs. So try to make something that a majority of your fan base can purchase. And capitalize off of that fact, its simply a good business move. I feel like he’s losing millions simply due to the fact that he’s not doing that. If im a big portney fan, ill take a chance for $200 out of the love I have for that person. At $2400, I want a quality watch made by people who have been in that industry for years etc.
21:45 "Once you're there you can use your name a lot like Warren Buffet. For this, every penny has been a grind, every penny I make people are calling me a scumbag."
So Dave's saying his name usually works for cash grabs with minimum effort. He put out a shit product in a market he didn't understand and he didn't bother to research because why bother, he knows his name will carry. Didn't work this time, so let's blame the market and the "watch nerds." Dude would've been better off saying nothing lol
Big agree
Dave made his money himself with his talent and hard work. You can criticize the watch but never him. He doesn't do "cash grabs". You'd know that if you knew anything about the guy but you obv don't. Best not to talk about subjects you don't know anything about.
@@SingleTrackMined portnoy fan coping that he thinks so low of his own fan base that he could sell a happy meal or teenage drop-shipper quality product for 2400 bucks to his own fans just because he slaps his name on it. And btw even if you’re cringe simp take on him being such a hard worker is totally accurate, it doesn’t negate the fact that this watch thing is an obvious cash grab. It’s possible to build a fan base through genuine hard work, and once you have it grift off them via misleading/shady cash grabs. The Rock grifted off his fans with an NFT project, Floyd Mayweather literally shills for any product that pays him, you could accurately call those things “cash grabs” and you wouldn’t be denying that either of those guys worked hard in life to get to where they are. You’re clearly just coping that a guy who you’ve made a personal connection with in you’re own psyche doesn’t think of you as anything more than a statistical number on a screen that he can extract money from
@@LT-xb5su there are so many other things w someone if his influence on his fan base to do that would be a way more convenient cash grab.. he’s not scamming any1, even if the watch is $250 to make not $500 that’s still a similar markup to most watch brands.. you could argue he doesn’t deserve to mark it up that high bc he’s a new player in the watch game but it’s not like his markups are unreasonable to other watch brands.. I have no dog in the fight I thought it was a great interview they were both fair, honest and harsh when needed but It’s not right to say this is a scam which I think ppl are implying g when they say cash grab
The watch is a basic watch. Who cares. Don’t buy it. Tissot and Hamilton produce quality watches for less than $700.. shit, even a $100 Seiko off of Amazon are made with a better movement.
Good job guys. It’s all exactly what I already knew. The guy is selling watches to people that don’t care about watches like himself. Is that dumb? Yea probably.
It's like saying I'm going to start a frozen pizza company aimed at people that don't care for pizza that much while charging $30 per pizza.
@@shaneth138 well he did start a shitty frozen pizza company but was at least smart enough not to charge $30 for em 😂
At his margins though, he will cover the upfront costs pretty quickly, so he doesnt need to sell all that many to be "successful."
Says it isnt aspirational. Yet wanted it to be a gift for college grads.
@@AmishcountryMetsfan pizza is pretty damn good and cheap tho
No way this man just complained about packing boxes 2k profit each 😭
I thought this “sit down” was absolutely fantastic.
Thank You for allowing Dave to be Dave and you guys being classy while conducting the interview.
👊👍
For someone to pay 2k+ for a watch, they are likely watch people or the type of person to go to the store and get a Tag or Breitling. Surprised this is $400 in parts, but there’s no market for it. The other fashion watches sell because anyone can afford them.
It’s $400 in parts if you pay retail for each part. In bulk my guess is half or less (probably less bc the movement would be well less in bulk). And he’s also selling Ronda quartz for $2400 which is more egregious.
Proverbs 16:18 “Pride is before a crash, And a haughty spirit before stumbling.”
Everything about this interview says it's not a watch I'd ever want to own. The brand caters to ignorant college kids that get a 20k inheritance.
Could be a huge idea....Dave sells these fashion watches without a clue. Obviously was a huge marketing win. Now from here they actually take it to the next level and put out a real watch🧐
I respect him for sitting down and discussing it, but god damn this guy is not a businessman. He did zero market research before dropping $3.7 million dollars into an industry he knew nothing about. How is he successful at anything?
He made a watch company with the intention of his target customers not being watch people absolute genius. I dont see how this in anyway could be bad
I don’t think it’s bad, it just not a smart move. Most non watch people either don’t wear watches or just buy an Apple Watch. Also non watch people find $500 expensive for a watch let along 2k
U must be blind if u cant see how Bad it is. He just said himself he wont do it again
Most non watch people won’t spend this much on a watch that’s the problem
@@RiseUpToYourAbility it is bad because the price point of the watch doesn’t not reflect the value of the watch.
Selling watches to not watch people is exploitation and puts crap into the market. Cynical. Creating businesses should be about value not exploitation.
Lol
What makes me cross is Dave seems to be in total denial that he's out of his depth and is incredibly dissrespectfull of so called watch nerds, who if he had a decently priced product with genuine integrity would be his customers not his haters......do your homework next time mate.......
That’s crazy you got Portnoy on. He was just in Rogan.
maybe hes trying to sell something.
@@jasonk12345 You sure?! haha
in Rogan? hahaha
@@jasonk12345he didn’t mention the watch at all on Rogan
Haven’t noticed this guy before, his story or his company. By watching the first minutes of this video, I wouldn’t want to do business with him. Seems to be all about the money without any passion for anything.
One thing that the watch cost breakdown didn't account for was wholesale vs retail pricing. I posted a breakdown on IG and came very close to what the Luxury Bazaar team did, at $435, but I also included packaging and assembly costs. But the parts unit cost are based on RETAIL pricing availability.
I've also enquired directly from a Chinese manufacturer and purchased a sample at WHOLESALE unit cost for a more complex spec watch (ceramic bezel 300m diver) and the unit cost was $246! (MOQ 200-300)
And as for marketing costs, that's probably a factor into Dave's decision to do this because the cost is basically zero because of his personal brand.
If he wants to drop the price to $900, still give %20 to small business, he'll do ok. If he launched at this price no REAL watch nerd would have batted an eye. He would have got a little bit of backlash just because but not to this level. Oh, and he NEVER should have compared it to being the same as Rolex except for the name on the dial...
Exactly, it should have been a $500 retail product at most.
Great comment
242 x 8 is still 1936...just saying....
@@winningsince1992 Low end Chinese watches don't get 800% markup.
@Leggo My Ego you think anything sold to you doesn't have at least a 3x mark-up? Can you name somthing? What do you think the swiss have access to that china doesn't? Add branding/a name and that's easily an 8x mark-up.
Yeah the watch is crap 2400 ha ha actually I take that back I just went into the website and looked at his watches and it reminded me of a swiss army watch . Nice looking watch but not worth 2400 dollars worth at most 800 to 1200 .
with all the logan paul crap coming out, this has crazy similar vibes listening to Portnoy try to explain why it isn't a cash grab and why he's all of a sudden interested in watches.
He has no need for more money. He indulges his whims with his fortune. Jealous much?
@@SingleTrackMined what a braindead response.
Then why write it at all? Blocked
@@SingleTrackMined "bLaWkEd"
The watches look real nice. If he was willing to get the price down under a thousands bucks people would pay more than 5 seconds attention to the actual product
The problem is a lot of us barstool fans are in our 20s so we typically don’t have 10k laying around for a watch
If we want to break down the cost of things…all things of value hold it inherently in their brand recognition. Not really in the individual components. You think a Richard Mille costs six figures to make? Fuck no.
This is not a $500-600 dollar watch at cost, Peter broke it down to $400 and thats retail prices on Ebay where people make money on. So buy in bulk and wholesale this price is coming down to $200 at least.
The only expensive thing in this watch is the movement all the rest is tops $50 but there is also a variant with quartz chronograph that movement cost only about $30
It’s 5-600 bucks at cost when you factor in the labor of putting it together. The $400 mark is just parts.
@@2gunzfilms425 You can buy a
@@2gunzfilms425 You dont want to know the real cost for bulk watches produced in china from these fashion brands, they have insane margins on it
Watch Theo & Harris take on the Brick.... After seeing this, I would find it hard to buy a watch from this guy.
If Dave priced it under $1000 he would of done well.
Agree
He wouldn’t have made money. $400-$500 to make. 20% to charity. He would have been doing for free at that point with all the other expenses
@@zachkrause6534 no. Would’ve been 800 profit at wholesale cost. Even with 20% to charity, the marketing expenses are non-existent since he’s promoting it himself.
This is an example of a persons head getting too big. How do u spend 3.7 million on a business when you know absolutely nothing about the industry?
So basically he isn't as smart as we thought he was.
At 30:27 Dave tries to use the massive thickness of his watches as a flex. Compares it to the Shinola that is much thinner and indicates his is better because "isn't that important, how thick it is, because of all the shit in there?" ...
did adrian just compare himself to dave from a haters club? 😂😂😂