The only watch brands that I have more than one of are Casio and Seiko. I'm taking a break from both to try and diversify my collection a bit. I always want a new Seiko, but there's a big world of watches and I don't want to limit myself.
This is something I've struggled with. I tend to avoid redundancy. For instance, I have 3 dive watches, one blue, one green, and one black. They even vary in size (38mm, 42mm, and 45mm). One the other hand, I have a black chronograph, a black field watch, and that black diver, but they're so different, they don't "compete" with each other for my attention.
My Seiko Presage GMT has one, which is nice because I like to avoid having to reset it. I think Nomos has the coolest looking implementation of it ( there's a good example a couple comments up).
I bought a Paul Smith tank-style quartz watch about 12 years ago at an airport duty free shop in Seoul. I liked the dial design. I wore it every day for around 8 years. It suited me as a non-watch collector, but when I think of all the other watches I could've have gotten for the same price (around US$350), I cringe a little.
Thanks, I've never understood it either. I made the mistake of looking at the comments section of a Hodinkee review of this watch, and there was so much vitriol. I'm still having a hard time finding actual negatives with this watch. I suppose if I paid full price, it might be easier.
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