Nick Kenyon
Alfredo Paramico doesn’t look like a watch collector. Living in Miami Beach, he looks more like an action hero, tanned like Baywatch and ripped like Schwarzenegger, and clad from head to toe in the latest designer capsules. However, in spite of this initial Wooster-esque impression, he is in fact one of the most well-known collectors of vintage watches in the world. A former merchant banker turned investor and watch dealer, he has amassed a collection worth an estimated $25 million.The Patek Philippe ref. 1518 once owned by Alfredo Paramico, which in 2016 went on to be the most expensive watch ever sold. Image: bexsonn An offshoot of his own collecting behaviour is Elite Advisers, an investment fund devoted to collectible watches that are expected to appreciate. In an interview with Luxury Society in 2017, Alfredo Paramico discusses his fund in some depth, what he looks for when building his collection, and if there is a bubble in the vintage watch market. These comments are interesting in the context of what has happened to both the pre-owned and primary watch markets over the last 18 months, with certain models exploding in value for both markets. While the watch industry has changed more generally through these areas of growth, a collector of Alfredo Paramico’s calibre expresses a perspective that captures the mood of the moment.
07.08.19