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Kevin O'Leary
My stepdad would take me out to the horological museums in Geneva and there was a particular dealer still there called Les Ambassadeurs. And we would go there on Saturdays together and he would walk me through all the brands. I was fascinated by it. Of course, I couldn't afford any of them. And he really instilled in me, you can't afford to buy any of this unless you've earned it. You can't borrow money to buy a watch. It has to be part of your life. It has to be some amazing event that's occurred. You graduate, you get married, you have a child, whatever it is. That's what was ingrained in me. And that was the beginning of the way I thought about collecting.
Cameron
What's going on, everybody? And welcome to Collector's Gene Radio. This is all about diving into the nuances of collecting and ultimately finding out whether or not our guests have what we like to call the Collector's Gene. If you have the time, please subscribe and leave a review. It truly helps. Thanks a bunch for listening and please enjoy today's guest on Collectors Gene Radio. You, Kevin O. Leary, aka Mr. Wonderful, is my guest today. The Shark Tank star and collector truly needs no introduction. He's become a collector extraordinaire, getting the stamp of approval from envy worthy brands and artisans ranging from Simone, Brett and F.P. journe to Fender and Montblanc. We talk about the importance of relationship building, the nuances between all the things he collects, and how brands should be looking at their future customer base. He's a storyteller investor in many ways other than the conventional and always there to tell you like it is in true Mr. Wonderful fashion. And to top it all off, we did it inside the walls of a place my grandfather built. So without further ado, this is Kevin O'Leary, aka Mr. Wonderful for Collector's Dream Radio. Kevin O'Leary, aka Mr.— Wonderful, welcome to Collector's Dream Radio.
Kevin O'Leary
Thank you very much. I appreciate it.
Cameron
My pleasure.
Kevin O'Leary
Here in New York City in this spectacular space.
Cameron
Yeah, we're in. The Bugatti showroom at Manhattan Motor is a really special place. Actually a special place for me because this whole business actually started with my grandfather back in the day. And so really.
Kevin O'Leary
Well, it's special for me. I love Porsche. And then he walked down his Lamborghini and there's Bugatti. I mean, stop the madness.
Cameron
Yeah, well, I had to tempt you in some sort of way, right?
Kevin O'Leary
Obviously, your family has a great relationship with these incredible makers.
Cameron
Yes, for sure. And I Think it's a testament to all the things that we're going to talk about today is relationships and having those relationships with incredible, you know, that I agree with.
Kevin O'Leary
I think a lot of people don't understand how important that is, particularly in watchmaking.
Cameron
100% watches, pens, vintage guitars. We're going to talk about it all today. But I'd kind of like to take a step back and go from day one, because you grew up and you traveled a lot and you lived in a lot of different places. So I'd love to know the things that you saw growing up that stuck with you in relation to the collector that you are today.
Kevin O'Leary
Yeah, my original. My biological father died when he was 37, so I was very young, and my mother remarried to a ILO expert, basically the United nations, and he moved to Geneva. So my family was in Geneva. And my stepdad would take me out to the horological museums in Geneva, and there was a particular dealer still there called Les Ambassador, which was legendary right on the water on Lake Le Main, Lake Geneva. And we would go there on Saturdays together, and he would walk me through all the brands. I was fascinated by it, you know, Rolex, Omega, Patek, I mean, and all the other independent Swiss and European brands. So, of course, I couldn't afford any of them. And he really instilled in me, you can't afford to buy any of this unless you've earned it. You can't borrow money to buy a watch. It has to be part of your life. It has to be some amazing event that's occurred. You graduate, you get married, you have a child, whatever it is. That's what was ingrained in me. And that was the beginning of the way I thought about collecting. Sure.
Cameron
And when you were a kid, did you collect anything? I mean, comic books or anything like that?
Kevin O'Leary
I did baseball cards and comic books. Yeah. I wish I'd kept them.
Cameron
I know.
Kevin O'Leary
Just sick about it now, particularly the cards. I mean, that's so nuts. But my first piece, my first watch was around my first business deal, and it was a Cartier, a brand that has been stuck with me my whole life. I'm wearing my wedding rings. Cartier. Hey, you know, me too. Yeah, I mean, it's just. It's one of those brands that. It's emotionally attached to me in many, many ways. But I also love the style of it. And now I think in this year's, you know, show Watches and Wonders in Geneva, they had the best of show. I mean, they were just crazy this year. Yeah.
Cameron
And so out of all the things that you collect, pens, vintage guitars and watches, which of those came first in terms of your interests? I mean, did it come at a time when you were selling your business? Did it come at a time when your business was just doing great?
Kevin O'Leary
It was watches first and it was always about an event. It was when I would sell a deal or I'd get financed or something. It just. I wanted to mark time. Sure. So to speak. But I also put inscriptions on a lot of my watches. I remember I was running a partnership called O'Leary Funds, it was a mutual fund business. And we, we got our first half a billion. I bought all the managers, Roasters, Maison Cartier and we, we scripted on it half a billion milestone. And those watches are priceless to me now. Yeah, I mean that watch means so much to me and I've gone on to do other things, but it was a moment in time and I do often, and I should disclose to you because this is coming up in a few weeks to give you an example of, I think about 16 years of shark Tank, which has become a passport for me. It's become a. I can go to any country on earth and people know who I am. They know Shark Tank, it's on in 42 countries. I know it's hate about Austria, who knew that? But I was talking here in New York with Adam, the CEO of tudor, and he was showing me some of the remarkable materials that they were making black bays with. And silver was one.
Cameron
Silver is amazing. The bronze, they just did the gold one.
Kevin O'Leary
Yeah, the silver really hit me because I was thinking about anniversaries and silver and I said to him, is there any way you would consider making me a piece unique, a Shark Tank silver, you know, with the Shark Tank logo on the dial inscripted with the name of every person that was there the day it was the pilot was shot that are still working on the show today. He said, we love that idea. Let me go back to Geneva and talk to them. It took two years to organize just the logo release. No one's ever done it. I'm presenting those watches to everybody. I sponsored the project and I'm proud of it. September 16th in Los Angeles and Adam's flying out, we're going to have a dinner. These watches are priceless, amazing. I mean it's imagine and it celebrates our family of 16 years. But that's another example, Cameron, about what it is about a watch.
Cameron
Sure, yeah. No, I mean at the end of the day, the gifting aspect or the passing down aspect for future generations. And all that is really what any collecting hobby is all about. It's for future generations. It's for your grandkids to say, my grandfather wore this. And then they give it to their kids and grandkids one day and it keeps going down, you know, in that sense. And for you, I know when you collect, especially watches, it's all about the dial. I'm the same way. If the dial doesn't make sense, I've.
Kevin O'Leary
Noticed in just the pieces you brought how unique each dial is. I'm really impressed. Yeah.
Cameron
If the dial doesn't make sense. Sense, it's not for me.
Kevin O'Leary
Yeah, right.
Cameron
Because then you move on to the other things, then the case has to make sense. And at the end of the day, it just.
Kevin O'Leary
I love your move into vintage. That is so cool.
Cameron
I started in vintage. You know, I. My grandfather that built this place and my other grandfather, they had vintage stuff, and I always admired them wearing a small vintage Cartier tank or a small Patek Calatrava with a denim shirt or with a suit.
Kevin O'Leary
Very cool. Very cool. And now. Smoking hot.
Cameron
Smoking hot.
Kevin O'Leary
I mean, it's come for the full cycle.
Cameron
Full cycle. But I've been interested in that since day one. That's where I started. I didn't move there because that's where the trend went. I started there. And so I'm an old soul. And so, like you, I go for dial first when it comes to watches, but when it comes to things like pens and guitars. What's your mode there when you go to make an acquisition?
Kevin O'Leary
The pen thing happened to me through the unique journey of wardrobe on Shark Tank. That's where the red bands came from. A woman named Artemis took over early on, and she said, listen, Kevin, you have a look now. You wear that black suit. I'm wearing it right now. The black suit, the black tie, the red poof. And I came in, I think, in year four with a blue band on. She said, that's not a red band.
Cameron
Absolutely not.
Kevin O'Leary
And I said, no, it's a blue band. She said, it's for me, it's got to be continuity. It's got to have a continuous thing with you. You're red bands from now on. If you're going to be on Shark Tank, you're wearing a watch, got a red band on it. I said, what is this, a curse? She said, no, it's not. It's continuity. And so I've been working with her year with her now for over a decade. And the makers know about this a pantone 45, the whole thing. And then I got into, in the last couple of years, two watches. Yeah. And so now I'm wearing two watches on Shark Tank. They both have red bands. They match. And we have so much fun with the dials, matching the dials up. So, you know, it's kind of part of the journey. And just. And I, you know, I was talking to guys at Rubber B. He said, you have personally increased the sales of red bands around the world, like 30%. I'm short and I. Which I'm very proud of, I'm sure, because men want style, they want options. Absolutely. They want. If you're wearing jeans, maybe you want this, maybe you want that. If you're not, you know, sort of a. It's kind of like you're a fashionable guy. Right. You care what you're wearing? I do.
Cameron
I sure do.
Kevin O'Leary
So, you know, you give it. You can care.
Cameron
Yeah. And so when it comes to adding a pen, does the pen have to be read now or does the pen have to catch your eye?
Kevin O'Leary
It does. And so what happened was, when I started showing up with pens, Artemis said, nah, you're breaking the vibe. Go back to Montblanc or go back to whoever, you know, and tell them it's got to be red. Yeah. And so we started curating red pens long before they were even contemplated, particularly with Montblanc, who have really gone. They have. They are. They are the pen maker now, 100%. And so I have many pieces that match. So you got the red pen. Now they even make a red ink. Yeah. So I'm writing down deals in red nibs. And then Ferrari did a pen. It had a red thing on it. So we got the whole red thing going there. And I began to realize the way the cameramen shoot it. You got 20 cameras on the set of Shark Tank. And I walk in, and Artemis goes through what we're doing and what we're wearing of all the continuity on the notes. And then I talked to my key camera guy, and he says, what are we dealing with today? I said, well, I've got, you know, Richard Mille on the left, and I think I'm going to do Rolex on the right. And I've got this monster Moblan. He says, good, just want to know what we got. And then they. They catch it. Yep. And they make it part of that whole thing that Shark Tank has become.
Cameron
And how about vintage guitars? Because you don't really get the so much there. Those are tough, harder to come by.
Kevin O'Leary
Harder to Come by. I think of different relationships I have. I was a shareholder at Fender. Sure. For years.
Cameron
Based in Arizona.
Kevin O'Leary
Yes. And I. And. But they make a. In California. They have a custom shop. I have two shark tank fenders. Unique pieces. 001002.
Cameron
Amazing.
Kevin O'Leary
Signed by all the Sharks. You know, just. I don't know what I'm going to do with them. I keep getting called up for auctions and stuff. And then I've got a Mr. Wonderful SG from Gibson. The Gibson people.
Cameron
Sure.
Kevin O'Leary
In Nashville made that. And then I've bought, you know, tellies. And I've got a lot of guitars. Yeah. And my wife's pissed at me because they take up a lot of space. They have to be maintained with humidity.
Cameron
Absolutely.
Kevin O'Leary
But when I have friends over, as I will this weekend up at our lake house, I've got 20 axes there.
Cameron
Yeah.
Kevin O'Leary
Incredible acoustics. Huss and Dalton. I mean, all of these. Every guitar has its own personality. And I tell people, don't mail order a guitar. Right. Sit down and play it. Right.
Cameron
Because not every Martin is going to sound the same.
Kevin O'Leary
Every Martin's different. Every Martin has different personality. And the way the keyboard feels, even if you're just starting out, it's got to feel right. Absolutely. And they're not cheap anymore.
Cameron
They're not cheap at all. Something that's really important with collecting anything is the community. And it's no secret that the watch community is pretty much ready to welcome anybody with open arms.
Kevin O'Leary
Yeah.
Cameron
What's the pen and guitar community like? I mean, is it.
Kevin O'Leary
Well, I. You know, you're a very astute guy to bring that word up. Let's go back to watch for a sec. Sure. Because the watch community can be very cruel. Let's talk about that for a second. I mean, this is a really interesting topic. And I. I think. You know what? I'm. Where I'm going with this. Let's say. Let me give you my biggest nightmare now that I'm a collector. Phone calls from very important people in my life that I do business with that have decided they want an FP Journe and they want a Patek Philippe and they want what they want, and I'm going to get it for them tomorrow. And there was a time when I could do that, but it's not now anymore.
Cameron
Doesn't exist.
Kevin O'Leary
Doesn't exist. And so it's very painful to have to go through and explain to them you're not a collector. Right. And you have to earn your way into the community. You've got to show Yourself, show your colors that you care about horology, that you're into it for whatever reason you're into it for, and be respected in the community. Sure. I think about the Journe society. I mean, just to get a jury. Forget it. It's. The point is the other Journe collectors, like me, want to know you're not a flipper. Right. Because you can make 4,000% on a journe. Yeah, for sure. But here's the thing. You gotta understand, if I were to take like that Jor, that one of a kind vertical with a red K that made for me specifically, I've been already offered a fortune for that.
Cameron
I'm sure Kingdom is one of a kind.
Kevin O'Leary
If I ever sold that, not only would I be banned for life within Journe, it would get out to the other watchmakers.
Cameron
Yeah, they wouldn't want you doing the same thing with their brand.
Kevin O'Leary
And so I explained this to people because I ran into this guy. I was picking up a meteorite Rolex. I said, that's a true story. I won't mention his name or the dealer because I don't want to embarrass. Sure. And so he called me about it. It was gold. I was interested in yellow gold. I'm moving into yellow gold a lot. I didn't have a meteorite. Daytona, beautiful piece. And he's. He's back the store with his father, talking about, you know, whatever, because I'd showed up and I was. I needed a red band. We were going through all that crap, and this guy comes over and says, you know, that was going to be my watch. I said, what do you mean it was going to be your watch? Why are they selling it to me? Well, I bought a piece. I bought a Rolex and I decided to sell it. He said, how? Like, how long between. When you bought it, you sold it? Oh, a week later, I decided I didn't like it. I said, and you're wondering why I'm getting this watch? Do you not even understand what you did? And this is a dealer here? Yeah, they blackballed him. And so I asked later because I didn't know who this guy was, but he was a Pew Shar Tank fan. We did some pictures of his kids and stuff. And the guy said to me, that guy is finished. He will never buy another piece.
Cameron
Done.
Kevin O'Leary
He's done. And he wasn't a collector in the first place if he didn't understand. Right. And so when I now talk about this, you have to get yourself into the community mode. You're Part of a community. It's. It's like a tribe, 100%. And you understand it, but a lot of people don't. I have never sold a piece, Right. I have. I've never bought a piece and sold it. Even the stuff I do with Teddy, I never sell it. Right. And Simon Britt called me up. He said, I've got five prototypes. I know who you are. I'm going to sell number three. I just want to make sure people have told me you've never sold a watch. Is it true? I said, simon, not only have I never sold a watch, I will personally fly to Geneva to meet you with my father to see your shop and I will take possession of the watch there.
Cameron
Amazing.
Kevin O'Leary
And we spent hours together. Now he's got two more on the way for me because I love his pieces and I'm going to wait the three years.
Cameron
It's my first time seeing it in person and it's.
Kevin O'Leary
We pick that up and tell me what your initial reaction was to look at that.
Cameron
First off, it's featherweight, but the hand hammering gold flux that he does on the dial is out of control.
Kevin O'Leary
Isn't that crazy?
Cameron
It's crazy, yeah.
Kevin O'Leary
I mean, I saw the digital pictures, but then I actually held the piece and my dad said, that's insane. And it's titanium.
Cameron
Titanium. The barrels on the back are incredible.
Kevin O'Leary
I'm the only one with red numerals. He did that for me. And the red band. Now let me tell you a story. Staying on our community issue. So he made a piece for someone clearly who he thought was a collector and supported his vision, you know of. A month later it got. It went to the market for 450,000.
Cameron
We saw it's crazy.
Kevin O'Leary
And he was pissed out of his mind. And I mean, it. First of all, established a market price, secondary market. And that was not even a prototype. That's a prototype. I don't even know what the prototypes are worth. But I've talked to Paul Boutros. Paul Boutros, good friend of mine over at Phillips, has often solicited my wife and said, listen, this guy's going to die one day. Why doesn't your family choose 14 or 15 now? And then we'll have a relationship with you for the estate sale of Kevin Olier's watches. And I said, fuck both of you, they're coming with me. These watches are coming with me in profit. That's not happening 100%.
Cameron
You got to be at least a little happy while you're in there, right?
Kevin O'Leary
Yeah, exactly. And I'M going to be away somewhere for a long time. I need good watches.
Cameron
No. I think the one thing I love about the watch community, and I'll relate this to Jaune specifically, I don't own a Journe. I would love to own a Jorn. But both Pierre from Miami and Kenny from LA flew out to Arizona to meet with a group of collectors. One who's a big Jordan collector, but the rest of us don't maybe have one or two. We're done. They came out and spent the whole day with us to include us in the Jordan community. They know very well that we're not going to get a watch right away.
Kevin O'Leary
Because that's just how we would spend the time. I told Pierre.
Cameron
Well, the fact that they would spend the time with us, I thought was really, really impressive because brands don't do that.
Kevin O'Leary
Well, they do now because. And I'm not the only one in the juror society that said this to Pierre, to FP himself, and to Rocky, and there's a lot of other people in the, in the, in that company. I said, for every 10 made, three have to go to a guy like you. Right. A young guy coming in. Right. And it will perpetuate the brand in perpetuity. But make sure these people are real collectors, even if they're young. You can tell, right? I mean, a guy like you, I can tell you're a collector. You're crazy about these pieces. Crazy about. So that's why they're interviewing you to determine are you going to be part of the new generation? And I would say, yeah, I'll be your advocate for. Well, I appreciate that, having met. Yeah. I mean, Pierre and I have all kinds of conversations about watches, but. And I go on the trips, you know, we went together to Japan to go to look at Grand Seiko and Credor. And I mean, once you get this virus, this watch thing, you are screwed.
Cameron
You're fucked.
Kevin O'Leary
You're just fucked. I mean, it's just. And the crap I go through with my wife about it all the time when she says, another watch, what are you doing? You don't even. You can't even wear what you've got if you wore six a day. Right. But I just keep coming back. Well, that's the only reason I work anymore, is to buy another watch.
Cameron
It's all the fun in it.
Kevin O'Leary
Right? Yeah.
Cameron
I think at the end of the day, collecting is this thing, and you get into so many different hobbies and so many different interests, and they all somehow mesh together. And as successful as you've been in business, I'd love to know what collectin has done for you in terms of the business person that you are.
Kevin O'Leary
You know, it's made me reflect on my life a bit about what it takes. How many decades did it take for me to earn a crash from Cartier? 40. Yeah. Took me 40 years of buying Cartier before somebody in Paris said, give that man a crash. Yep. I mean, that and a skeleton, too. Yeah. Didn't give it to me, I bought it. The number of people that have tried to buy that off me, I have never seen anything like it. That watch, I have never seen anything like it. No. I mean, you can't even tell the time on that dial.
Cameron
The crash itself is already so avant garde. But when you add the skeleton to.
Kevin O'Leary
It, it's a different ballgame. But the idea that I would ever sell it after waiting 40 years to have the right to buy it. I asked the guy that offered me a crazy price for it. He said, why would I do this? Yeah. Can you give me a reason?
Cameron
For what?
Kevin O'Leary
How am I ever going to get another crash? Yeah. He said, oh, you're Kevin O'Leary. You can get another crash. I said, no, he, I can't. I can't. Because they've entrusted the ownership of this piece.
Cameron
Right.
Kevin O'Leary
And I really am appreciative. I picked it up in New York. I gotta tell you, I was emotionally moved. Everybody in the room, even in the headquarters here in New York, and never seen it. The platinum, it's. I think it's number two. The other one's probably in the museum.
Cameron
It's amazing.
Kevin O'Leary
And they're going to make a few more. Nobody knows when or who's going to get them, but I begged them, please make it so I can wear it on shark tank season 16.
Cameron
Right.
Kevin O'Leary
And I sent a picture to Artemis and she said, that's. That's it.
Cameron
That's the one.
Kevin O'Leary
That's the one. She said, that's insane. What. What are we going to pair it with? And I. And we're negotiating that now. I want to get another Cartier for the other side for the September shoot. Because Cartier is so unique in how they've kind of transcended just watchmaking into style, history, horology, brand. The whole thing is. It's almost a different level.
Cameron
It's a different level, and it's a level of taste that isn't for everybody. Some people poo poo Cartier because it's too small, it's too delicate. But when you have that on. You are easily the most elegant and classy person in the room.
Kevin O'Leary
Yeah. I've always felt that that looks from 20ft away. Just says something about style. Yeah. But it's also very collectible. Absolutely. And vintage. My first watch is a Cartier. And I just think about, I have that passion for brands and I've got many different watches. But I also want to support young watchmakers. And that's where I got this whole thing going with Teddy. And say, Teddy, you're supporting entry level horology. You're trying to get watches for 2,600, 800. Right. I'm a buyer. Like, let's work together. I have many pieces of his that I paid 600 bucks for that. People stop me saying, where'd you get that 100%? Because he totally gets me on the dial thing. So every piece I get from him is a piece unique from the dial perspective, and the makers know it. But watchmaking is a commitment of your life. You start at 14 and then you're screwed. Right. I mean, you're really screwed. So it's half art, half science. Either you're into it or you're not. Yeah. And then this small business needed a huge budget for its TV ad. You know, the struggles of customer acquisition is way too scary to read after dark. Wonder ads, powered by Tatari, helps small businesses run ads on TV at a low cost.
Cameron
I asked two friends of mine who collect not in the categories that you collect in there that I collect into, come up with a couple questions that I felt were maybe a little bit more compelling to ask you because they're not collectors of the crystal. And so the first one was, as a wine connoisseur, where would be a good person, a good place for someone to start collecting wine?
Kevin O'Leary
Collecting wine? Yeah. You know, I started drinking wine in Switzerland when I was 8 years old because they don't have a phobia. Right. About wine in Europe. And they don't drink at night very often. It's usually at lunch. And they sometimes water down the kids wine. But my father taught me about all the Burgundies, all the Bordeaux. So I'm very fluent in French wines. Not so much in Italian. Really good at California, where I make a lot of wine for very fine wines. I sell a lot of wine, about 50,000 cases a year.
Cameron
Amazing.
Kevin O'Leary
But I've learned something. My wife is almost sommelier now. She has an incredible palette, particularly for whites. She, you know, she can just have a sip of a white, say, old world Montrachet 2017 right. That's sick. That's spectacular. And she's right. I mean, how did you do that? Yeah. And so it's sort of California in the same way. But what I've learned, though, is you have to try a lot of different wines to find out where you fit in the strata on what you like. Right. Because it's not just about being a wine snob and buying a Latour 82. What if you don't like it? You know, it's sort of. And so I say, try everything. Go in. And the crazy thing you gotta know about the wine business is very often a wine that I'll sell for $11 on QVC, it's the same juice that's being sold for $110.
Cameron
Absolutely.
Kevin O'Leary
And so it's all about brand distribution, the making of the bottles and how you get them to people. I tell everybody who wants to start start trying everything. Have you ever had a Pinot Grigio? Have you ever had a Chardonnay? What about a Chablis? And you will find within a month what your palate is. I have shifted from oaky shards now to Burgundian whites, which is a very expensive move because I'm so pissed off at how expensive they are. But I've fallen in love with them. So I like a lighter shard, a crisper shard, more minerally shard. And that's. As I'm aging, my palate's changing. Right. So I'm very selective. And my pro. I don't drink any other alcohol except one. I gave all that up because I'm into the sleep thing and longevity and everything else. But I have a glass of white and then two glasses of red with dinner. And I try to do that three hours before I go to sleep. Because wine and alcohol will screw your sleep up. Absolutely. Yeah. It's a shame.
Cameron
It is a shame, because it's good. And so the other question was, on that tangent is, at this point, sometimes people that collect wine, they always say, oh, we'll save this for a special occasion. And then a special occasion comes and.
Kevin O'Leary
Yeah.
Cameron
What is the special occasion? To open up something rare.
Kevin O'Leary
So that's a very good point you're making, because the other day I was with my wife Linda, and I made a pizza because I have a pizza company called Bertello. I make pizzas all the time. And I went into our cellar at the lake house, and I found a 1962 Chevy Blanc. Sure. Which, I mean, you know, I don't know how many bottles are left in the world of that, not many. Not many. And I brought it down to the dock and she said, what' I said, 62 shit of love. She said, what are you fucking mind? I said, what are we saving it for? Yeah. Why don't we eat it with this pizza? Yeah. Perfect. And I opened it. It was still perfect. Yeah. And I kept the bottle to put a candle in it just to show people we had it, we loved it. Cork was still good. The shoulder was good. There is no perfect time. The only crime would have been with that bottle to have served as someone who didn't know what it was. Right. That appreciate. I feel that way about the DRCs that I have, because when we have a dinner party and, you know, Linda says, let's. Let's serve a drc, I say no, because a lot of the people at the table won't even like it. Won't know what it is. They don't like the barnyard smell of it. Right. And that bottle is worth $7,000. Right. And I bought it back when it was 350. I mean, I've been buying Burgundian wines since 1990.
Cameron
Sure.
Kevin O'Leary
And so. And I've. I've curated them, and I have multiple sellers. I've got a good friend. We have a massive seller in Boston. We buy divorce sellers. All these hedge fund guys always get divorced all the time. Right. And the first thing goes is the wine. So we go in with cash offers. I mean, hedge fund guys are remarkable. They'll. Some of them don't even know what they have. No. And they just.
Cameron
They're not the ones buying it.
Kevin O'Leary
They're not. Yeah. They got a wine consultant guy. And Eric goes in and looks at everything and says, okay, that's worth 250 grand, right. Or leave it. No. No commission. And, you know, a lot of them buy wines like Californian caps, and they're 20 years old. Those are dead. Yeah. Yeah, they're dead.
Cameron
The other question I wanted to ask is at this stage in your collecting and with anyone's collecting, especially when it comes to rare pieces, you get the call when you get the call, and when it comes in, you either say yes or no. And you can't really plan it around a special occasion or a special time anymore. How often are you able to celebrate a win in your career by buying something in this stage of collecting?
Kevin O'Leary
It's harder now. It's harder. I had a unique situation recently, a difficult situation. We were going back to a very good friend of mine that was also. I invested in his company, he had a massive multi billion exit and he decides to get married. And he, he called me up and said, look, I want to go into collecting and I'd like to get a. I want to wear a Patek Philippe at my, at my wedding. Rightfully so. Yeah. And I want my wife to have one too. Immediately. I said to Linda, that's our gift to them. But how are we going to get them? Right? And the one he wanted wasn't even available in North America. It was primarily destined for Asia. This is where the relationship comes in with the maker. I called them up and said, here's the situation, here's the family, here's the story, here's the details about the wedding, here's the date. But it got worse. He wanted a Tiffany stamp.
Cameron
Don't we all?
Kevin O'Leary
Yes. And so all I could do was tell the story to both Tiffany and Patek and say, can you help me with this? And I was expecting a no, but someone at Patek, I know who it probably was, but I won't mention, said, we love love. We're going to do this for you. And that day I bought three Pateks. Amazing. You know why? Because my wife said, what am I, chopped lever?
Cameron
Yeah, I need one now.
Kevin O'Leary
Yeah. And I want a Tiffany stamp too. And I explained that problem. And so I probably won't get to buy it for a while. But the company understands the moment in life that that meant. And so even Tiffany cooperated. Get the. And everybody was a winner because he will never sell that watch, ever. And she wept like a baby when we, we did a big presentation here in New York at the two different dealers that were set up for this champagne. The wedding. She cried when box opened. And what a moment, right?
Cameron
Amazing.
Kevin O'Leary
You think she'll ever sell that? Never. No.
Cameron
Can't beat it.
Kevin O'Leary
Can't beat it for her wedding. So that whole thing to me just crystallized the relationship of watch collecting. They knew who I was. They met him. I think he will become a collector. He's like you, Charlotte Sojourn. You know, it's sort of, I don't know. I'm very passionate about it, you can tell. But I've been doing it forever. Right.
Cameron
This is not a new thing for you?
Kevin O'Leary
No, it's not a new thing. And I think I've earned my stripes. But you're right, I can't exactly time them anymore. But here's a great story because I'm going to show you these two watches. These are two elegance. This is my original elegance. This doesn't even exist. This is a red dial Elegant, made for the restaurant in Geneva. And only the patrons of the restaurant will FP make one for them.
Cameron
Incredible.
Kevin O'Leary
I saw it with a red band. I said, fp, what am I, chopped liver? I'm the red band guy and red dial anything. And he said, you don't live in Geneva. You're not a patron of the restaurant. I said, look, I have to wear that on season 16, right beside my original Elegant. He said, I like that idea. Take this one off my wrist, go wear it, and then come back to Geneva, give it back to me. Which, I mean, I have to do that. But the point is, again, a relationship. Right? Right.
Cameron
For FP to give you his watch and say, I trust you with this. I'm happy it's on your wrist.
Kevin O'Leary
Don't enjoy it. I'll steal it. Obviously, I'm very careful with it. But I have worn this, and people have recognized it, and they've gone insane. Like, I only heard of a ghost that had one. Is it real? You know, all that stuff. Is that a knockoff? Is it fake? I said, no, he makes them, but good luck getting one. Yeah.
Cameron
Amazing. Well, I don't want to take too much more of your time, but I do want to wrap it up with the collector's dream rundown. This is a list of questions that I ask each guest at the end. And you can answer them based on watches or pens or guitars or wine, whatever you see fit.
Kevin O'Leary
Absolutely.
Cameron
So the first question is, what's the one that got away?
Kevin O'Leary
Oh, now you've broken my heart. I was in Geneva visiting the dial factory at FP Journe when a ruby came back made of the stone. Wow. I think they only made 11. It just happened that morning. I walked in and Pierre said, come up here. This isn't going to be bought by the person we thought was going to buy it, yes or no, right now. And I said, you mean it was owned by somebody else? And he said, yeah, for, like, a minute, and now it's back here. I said, I don't want a watch that was owned by somebody else.
Cameron
Oh, I know.
Kevin O'Leary
I mean, I will never get that piece. I think it's worth $2 million now. Sure. It's one of 11. What the fuck was I thinking? Like, that's the one that.
Cameron
I wish I could have given you a note.
Kevin O'Leary
Okay. I'm so pissed you asked me that question. I just. I will never make that mistake again. But it. The pain of that. Because that should be in my collection.
Cameron
It should Maybe one day it'll make.
Kevin O'Leary
It to my back. I don't know where the other. I mean, I like those. That is one of the rarest of the rare. You know, I know Danny Gubberg and George Mayer over at 1916, and I tell them that story and they say.
Cameron
You idiot, they give you a hard time.
Kevin O'Leary
Exactly.
Cameron
How about the unobtainable? So this is one that's in a museum or a private collection. It's just unobtainium because you can't even get your hand on it.
Kevin O'Leary
So this may be a strange answer for you. I believe that I can get anything.
Cameron
I love that answer.
Kevin O'Leary
And. And the reason I believe that is I have never broken my core values about collecting on any asset class. I don't flip anything. I think I'm well known for that. I've earned that. And I have found every brand takes my call for that reason alone. And so if there's something I want that's a piece unique, it's a matter of time. Well, I have piece uniques. When France hall was running ap, I said, francois, I want a ruby red royal oak that no one else has. And he said, okay, let's do it. And I have that piece. I can basically never wear it because I can't ensure it because they'll never make it again. And when we send it to la, it's by guard, and we wear it on the. I wear it on the set by. And I remember. I remember on that piece, it took two years to design it. I was calling around collectors, and I said to one of them, I can make it in any metal. And I'm thinking of going platinum. And he said, never. It's gotta be steel. It's gotta be the 1972 Genta Steel. Yep. And I said, I can't remember which designer in Switzerland, they said, that's the hardest metal to work with in putting these stones in. I said, well, it's gotta be steel. It's gotta be. And I'm glad I made that decision. Yeah.
Cameron
No, the watch is gorgeous. The video you did on, it's fantastic.
Kevin O'Leary
You know, I did. I. It broke my heart to see that thing. I was so blown away. But, you know, so. That may sound arrogant, but I believe Gibson made me a Mr. Wonderful, the only SG from the 60s with that light SG body, because I respect their brand and I'm gonna play it. So. No, nothing's. I think in life you should believe everything's attainable if you were willing to work hard enough. Yep, absolutely.
Cameron
I think this is A testament to that for sure.
Kevin O'Leary
Yeah, I'm pretty proud of this. I knew we'd be getting together. I brought some. There's a couple of piece uniques in there. Yeah, there sure is. And that, you know, and right now I'm in love with that crash. It's sick.
Cameron
It's next level.
Kevin O'Leary
Yeah, I mean, I'm just, I'm into that Cartier zone right now.
Cameron
It's a good zone to be in. How about the on deck circle? So this is something that is got you excited in collecting something. Maybe you're waiting on a brand or a watchmaker that's got you excited right now.
Kevin O'Leary
There is. It's when you, when you meet. I don't know if you're aware of what happens with Jorn. Each year he runs a contest, worldwide contest for young watchmakers. Sure. And he invited me to this lunch and I sat quietly and I said, you know, fp, I'd like to interview these young watchmakers. Afterwards he said, I don't have any problem with that. And he went downstairs and then he came back and he decided to participate. And I shot a two hour interview with him that no one has ever interviewed that guy for that long. And the watchmakers. And I met two new watchmakers there, but I learned that they coveted the previous year was Simon Brit. He won that award and look what happened to his brand from that.
Cameron
Incredible.
Kevin O'Leary
So right now I am awaiting. Simon Britt is going to make three different cases. So when I talked to Boutros about it, he said whatever precious metals he goes into, to get the perfect collection from him, you need one of each. And so I asked him about this is going to be a kind of a five year journey, maybe 10 years we're going to do that. So incredible. And you know, I'll have three. And that will be probably one of my most valuable verticals. I can wine. When you buy 82 and 88, 89, 90, it's a vertical from that decade. Well, it'll be the same for that.
Cameron
Amazing. How about the page one rewrite? And I phrased this with a grain of salt. If money was no object and you could collect anything besides watches and pens and guitars and all it took was a blank check, what would it be?
Kevin O'Leary
I would probably go into cars more. But the thing that I found so difficult with cars is the storage of them. Sure.
Cameron
And the maintenance.
Kevin O'Leary
The maintenance and the storage. Now if you have a dealership like this and you have the facilities to do it, I would be a collector and I would take some portion of the basement in here and fill it with cars. And I've got many friends that are car collectors but I see the pain and misery they go through and I. Because I love cars, but I mean the real estate headache alone, sure.
Cameron
It's madness.
Kevin O'Leary
It's madness. So for me, I can either buy another Porsche, which I love Porsches. Or I can buy another FP Jordan.
Cameron
Which I can wear and enjoy and stories.
Kevin O'Leary
Stories easier. And all the rest of that. I wish. I'll say one thing that I've learned the hard way with watch collecting and it's for guitars too. Theft and insurance. I am going to be launching in the next 60 days a new watch insurance business I started for myself.
Cameron
Wonder Care.
Kevin O'Leary
Right. Wonder Care. I put it out on my social. I've got thousands of requests for policies now. So I'm actually working with the insurers. Starting U.S. domestic and then we're going to go to Europe. Very hard to get licensed. I've been working on this for two years. But it lets me insure them for replacement value scraped from the Internet in the last 24 hours. Great. Or purchase price. My decision. Right. About a 1.72% of either value. Sure. And I could turn it off and on. It will.
Cameron
Amazing.
Kevin O'Leary
So I need that and this little plug for that business because we're talking about collectibles. But I'm excited about that business. I've got lots of partners in it. But that'd be great. Part of the whole watch ethos thing, you know. Yeah. If anybody can, you know, if anybody on earth should. Should have a watch insurance company, it's me. It's gotta be you, it's gotta be me. And that's pretty. Well, you know, when I went to watches and wonders, I talked to every brand and said here's what I'm doing. They said we're interested. Yeah. There's none of them want to be regulated. Right. I'm regulated in the indexing business for equity, so I might as well. I'm already paying millions for my compliance. I can do insurance. Yeah. Why not? Right? Exactly.
Cameron
Next question is the goat. So who do you think is a great collector out there? Whether it's one of your counterparts from Shark Tank or a good friend of yours.
Kevin O'Leary
I have a lot of respect for John Mayer. Yep. That he understands and I know him. I've got to know Brady.
Cameron
You guys were just at the White party together.
Kevin O'Leary
Well, we've met before that. He also has some Jaunes. He's interested also in dials. Yeah. The only guy that, you know, I thought I won the night at the white party with the crash because the press was going crazy, all the paparazzi, until Brady walks in with a one of a kind AP. Yeah. Covered in diamonds with, at the 11th hour, marker, the number of Super Bowls he'd won. I mean, what the fuck, you know? That's a big fuel. Yeah, it was a big fuel. And he said, sorry, Kev, I've nailed you tonight. I said, than you actually have. Yeah, but he's going to. Maybe I'm speaking out of school, but he's making another. They made two. And they're going to have a massive auction on that second piece.
Cameron
Amazing.
Kevin O'Leary
It'll go for millions. It sure will. Yeah. It'll be the only other one identical to Brady's and I think that'll be a big auction item. Absolutely. But that's great too. That's for charity, right?
Cameron
Yeah. How about the hunt or the ownership? Which one do you enjoy more?
Kevin O'Leary
I think the Hunt. Yeah.
Cameron
That's a pretty unanimous answer with most collectors.
Kevin O'Leary
I love it when people say, you'll never have this watch. Yeah. And then a year later, I've got two of them because, I mean, I just find that I don't care who the maker is. I'll fly, I'll see them, I'll talk to them, I'll explain who I am if they don't know me. And I'll buy a watch. Yeah. And they want me to buy a watch because it, it falls into a collection, I think. By the way, I thought I was. I have to tell you a true story. Sure. I thought I was maybe the world's largest watch collector for a while. Right. Until I got to the Knighted arid Emirates. Oh, forget it. I am a nothing burger compared, Claude. And I mean, I could not believe the collections over there. The amount of piece uniques, the incredible. I mean, those guys really, really, really are the guys. Yeah.
Cameron
And you've said before that you kind of. If they're in the auction room, you stay away.
Kevin O'Leary
But. Well, Claude. Yeah, yeah. I mean, there are guys that I know I can't be. There's always somebody bigger than you. You have to respect that. There's always somebody above you. And if I go to a Phillips auction or something, I'll ask them, you know, is Claude on this? Does he want this piece? Because I'm not going to get it. Right. And that happened on a chopard. And I saw the chopard in the Priest's previewing three days earlier. One of a kind, laughing Mexican skull By a. I think it was a Swiss woman artist who carved that. And I said to Paul, listen, I'd really like to be on the bid on this thing. Yeah. But I don't want to make a fool of myself worldwide. I need to know if Claude's going to buy this because everybody knows if he wants it. You're fucked. You're out. You're out. You do not have enough capital.
Cameron
You're just making it more expensive for him. That's all.
Kevin O'Leary
He doesn't give a shit.
Cameron
And he doesn't give a shit.
Kevin O'Leary
He doesn't give a shit. So it's pointless. And apparently he had decided that he had something similar Klotzafir. Now he suffered a health setback. But he is probably of Lebanese descent. Like me. I'm half Lebanese, half Irish. I've met him. What did he have on his wrist when I met him the first time? Jord. He has 000 the first prototypes FP made for him. Nobody even knows about it.
Cameron
Unbelievable.
Kevin O'Leary
So I mean I saw that and I said I don't recognize that piece. But it's a journe and I know every journe. He said no you don't.
Cameron
You don't know this one.
Kevin O'Leary
You don't know this one. I just met him for lunch and introduced to me by one of the royal family. And we spent three hours together. I mean I realized I'm just dog shit compared to him. Well that's just sort of. You know. But it's very important to be humbled. Yeah. There's levels to understand. But he's in a different level. He's not even human. No. I mean it's just.
Cameron
It's madness.
Kevin O'Leary
And he has some of the very first prototype Rolexes. Yeah.
Cameron
Really rare stuff.
Kevin O'Leary
If that collection ever comes to market it will be a billion dollar sale or more at minimum. Yeah. It'll be. They can't do them all at once. They're going to have to. I don't think it's coming. I think it'll stay in the family. It's like the John Reardon on the John Lennon watch. The Patek. Right. It's back here in New York.
Cameron
2499.
Kevin O'Leary
Yep. Yep. And so I talked to him about it. That's a piece I'd like. And so. But Jochon has decided not to sell it. Yeah. It's probably going to shine. Yeah. It's probably the world's most sought after watch today.
Cameron
How far above the Paul Newman Daytona do you think that would go?
Kevin O'Leary
So we talked a lot about That I was thinking in today's market, which is also down about 28% for brands except like, Jornes and certain other brands of Simon, Brit. There's no correction in price there because it's so few. The Newman with sellers Commish was 17:2 us, I think. Yeah.
Cameron
17:1.
Kevin O'Leary
17:2. Right. I was thinking 25.
Cameron
That's what I was thinking. 24, 25. I mean.
Kevin O'Leary
Yeah. For me, what I wanted to do with that piece, if I could have been allowed to have a private sale. And I. It just was a one conversation with Joan. I said if I could go see her and bring together a syndicate of collectors, four of us, five of us. Right. With. So she would know with certainty that watch would never be traded. Right. It would just be held by us during our lifetimes in our states out of respect for it. He said, I don't think so. Yeah.
Cameron
No, I think the push and pull of her even getting it back.
Kevin O'Leary
The story's crazy.
Cameron
The most wild story I've ever read.
Kevin O'Leary
Yeah. No, it's. It's all over the Internet.
Cameron
Jay Fielden did a great job.
Kevin O'Leary
I thought they did. I thought it was. It was great. But once I learned about it, and I said, it's a Tiffany stamp. So I asked Reardon, I said, how do we know with certainty given all the hands it's gone through? He said, believe me, if I open that up, I'll tell you. Yeah. And no one would buy that without Reardon checking it. He's the goat on.
Cameron
He's the guy.
Kevin O'Leary
Yeah, he's the guy. So everybody would. If you're buying vintage Patek, you have to buy it from him. Yeah. Even you have to pay his commission. It doesn't matter. You just got to open it up and look.
Cameron
Oh, you can sleep good at night knowing you bought something.
Kevin O'Leary
Yeah, yeah, yeah. Because a lot of the. Like these. You know, what you've got on here. These are rarest. You know what? Yeah. But also, there's. There's knockoffs, too.
Cameron
100%.
Kevin O'Leary
Yeah. Can I see that thing?
Cameron
Absolutely.
Kevin O'Leary
Please.
Cameron
And we'll wrap it up while you're looking at that with the most important question, which is do you feel that you were born with the collector's gene?
Kevin O'Leary
I do, actually. Yeah. And I wouldn't call it a gene. I'd call it a curse. A curse. It's a curse. It really is. Yeah. I keep saying to myself, okay, why don't we just cool it for a couple of months and not bring another watch home just to see if we could do it. Yeah. Sort of like a drug addict. Yeah. Not possible.
Cameron
Nope. Not possible. Well, there you have it. Kevin O'Leary, aka Mr. Wonderful, with collector's Dream Radio. Thank you so much for joining me today. It's been an absolute pleasure and a fantastic piece. That's beautiful.
Kevin O'Leary
Thank you. This whole thing coming back to small diameters.
Cameron
It's coming back. It's a classic.
Kevin O'Leary
Yeah. Totally. Looks great on you, too.
Cameron
Thanks so much.
Kevin O'Leary
You got. Thanks for coming on. Appreciate it.
Cameron
Thank you. All right, that does it for this episode. Thank you all for listening to Collector's Gene Radio.
Collectors Gene Radio: Episode Featuring Kevin O'Leary aka Mr. Wonderful
Release Date: October 16, 2024
Host: Cameron Ross Steiner
Introduction
In this captivating episode of Collectors Gene Radio, host Cameron Ross Steiner engages in an in-depth conversation with renowned entrepreneur and television personality, Kevin O'Leary, famously known as Mr. Wonderful from Shark Tank. The discussion delves into Kevin's extensive collecting passions, ranging from high-end watches and pens to vintage guitars and fine wines. The episode not only explores the nuances of his collections but also sheds light on the underlying philosophy and relationships that shape his approach to collecting.
Early Influences and the Genesis of a Collector
Kevin O'Leary begins by tracing his roots back to his childhood in Geneva, where his stepfather introduced him to the world of horology. These formative experiences laid the foundation for his discerning taste and disciplined approach to collecting.
This principle emphasizes the importance of meaningful acquisitions tied to significant life events, ensuring that each piece in his collection holds personal value.
Building Relationships within the Collecting Community
A recurring theme in Kevin's journey is the pivotal role of relationships. Whether it's with watchmakers, pen artisans, or fellow collectors, these connections have been instrumental in curating his unique collections.
Kevin underscores that genuine relationships foster trust and access, enabling him to acquire exclusive pieces and collaborate on bespoke creations.
Diverse Collections: Watches, Pens, Guitars, and Wine
Watches
Watches are at the core of Kevin's collection, reflecting his appreciation for craftsmanship and design. He shares anecdotes about personalized timepieces and the stories behind them.
He highlights the significance of commemorating business milestones with special watches, reinforcing their sentimental and historical value.
Pens
Expanding beyond watches, Kevin discusses his affinity for high-end pens, particularly those from Montblanc. His dedication to maintaining a cohesive aesthetic is evident in his curated selection of red pens.
This meticulous attention to detail extends to his professional image on Shark Tank, where his choice of accessories enhances his personal brand.
Vintage Guitars
Kevin's passion for vintage guitars showcases his appreciation for musical artistry and history. He owns rare instruments from prestigious brands like Fender and Gibson, each with its unique character and story.
This hands-on approach ensures that each instrument in his collection resonates with his personal taste and musical journey.
Fine Wines
Wine collecting represents another facet of Kevin's diverse interests. Influenced by his upbringing in Switzerland, he emphasizes the importance of exploring various vintages to develop a refined palate.
His strategic acquisition of fine wines not only serves personal enjoyment but also presents lucrative investment opportunities, reflecting his business acumen.
The Importance of Community and Authenticity
Kevin candidly addresses the challenges within the watch community, particularly regarding authenticity and the prevalence of flippers who prioritize profit over passion.
He advocates for genuine engagement and integrity, ensuring that his contributions to the community are built on trust and shared enthusiasm.
Navigating Challenges in Collecting
Collecting rare and unique items often comes with its set of challenges, including dealing with exclusive markets and the risk of fraud.
To mitigate these risks, Kevin has initiated Wonder Care, a watch insurance business designed to safeguard collectors' investments with innovative solutions. This venture underscores his commitment to supporting the collecting community by addressing critical needs.
Collector's Dream Rundown
In the concluding segment, Cameron poses a series of reflective questions to Kevin, revealing deeper insights into his collecting philosophy and aspirations.
What's the One That Got Away?
The Unobtainable
Page One Rewrite
The GOAT
The Hunt vs. Ownership
Do You Feel Born with the Collector's Gene?
Conclusion
Kevin O'Leary's journey as a collector is a testament to the intricate blend of passion, strategy, and relationship-building that defines true collectors. His disciplined approach, coupled with an unwavering commitment to authenticity and community, offers valuable insights for both seasoned collectors and enthusiasts embarking on their collecting endeavors. Through Collectors Gene Radio, listeners gain a profound understanding of what it means to possess the coveted "Collector's Gene" and the profound impact it can have on one's personal and professional life.
Notable Quotes
Kevin O'Leary [00:00]:
“You can't afford to buy any of this unless you've earned it.”
Kevin O'Leary [08:19]:
“I have many pieces that match. So you got the red pen.”
Kevin O'Leary [24:15]:
“You have to try a lot of different wines to find out where you fit in the strata on what you like.”
Kevin O'Leary [42:54]:
“I think the Hunt.”
Kevin O'Leary [48:44]:
“I do, actually. Yeah. And I wouldn't call it a gene. I'd call it a curse.”
Final Thoughts
This episode offers a rare glimpse into the mind of one of the most influential collectors of our time. Kevin O'Leary's narrative not only inspires but also provides practical advice on navigating the complexities of collecting. Whether it's the emotional attachment to a first Cartier watch or the strategic maneuvers to secure a one-of-a-kind timepiece, Kevin exemplifies the essence of a true collector—passionate, persistent, and profoundly connected to the items he cherishes.