TL;DR: The Taste of Time independent watchmaking event is expanding to a larger venue for its third edition in the Netherlands, signalling growing institutional and collector demand for independent horology — a segment where limited-production pieces have appreciated 40–80% over five years and consistently outperform mainstream luxury watch indices.

Independent Watchmaking as an Investment Signal: What the Market Data Says

Independent watchmaking is no longer a niche curiosity for horological purists — it is a measurable, data-backed segment of the alternative assets market. According to the Knight Frank Luxury Investment Index, watches as a category posted a 138% appreciation over the decade to 2023, outpacing wine, art, and classic cars over the same period. Within that broader category, independent and micro-brand timepieces — produced in runs of fewer than 100 to 500 pieces annually — have demonstrated even sharper appreciation curves, with select references from makers such as F.P. Journe, Philippe Dufour, and MB&F achieving 40–80% price gains over five-year holding periods at major auction houses.

The expansion of Taste of Time, an independent watchmaking event hosted in the Netherlands by Adriaan Lenting and Frank Geelen, into a larger and more accessible venue for its third edition is not merely an organisational upgrade — it is a market signal. When dedicated events for independent watchmakers scale up in response to demand, it reflects a broadening buyer base that includes serious investors, not just enthusiasts. The first two editions sold out attendance capacity, and the move to a new, larger location acknowledges that the audience willing to pay a premium for provenance-rich, limited-production horology is growing faster than the supply of the watches themselves.

Why Scarcity Drives Returns in Independent Horology

The investment case for independent watches rests on a straightforward supply-demand imbalance. A manufacture like F.P. Journe produces approximately 900 watches per year across its entire collection. Greubel Forsey delivers fewer than 100 pieces annually. Compare this to Rolex, which produces an estimated 1 million watches per year, and the scarcity premium becomes structurally embedded in independent pieces from day one. When a maker retires a reference or ceases production entirely — as has happened with several celebrated independents — secondary market prices can surge 100–200% within 18 months of the announcement.

Events like Taste of Time function as price discovery mechanisms. They bring together buyers, collectors, and investors in a concentrated environment where transactions occur, waitlists form, and market intelligence is exchanged in real time. For an investor tracking the independent watch segment, attendance at or monitoring of such events provides ground-level data that no auction catalogue can replicate. The third edition's expanded footprint suggests organisers are responding to demand from a more financially sophisticated audience — one that views these objects as stores of value rather than wearable art.

• 5-year appreciation (select independents): +40–80% at auction
• Annual F.P. Journe production: ~900 pieces globally
• Annual Greubel Forsey production: fewer than 100 pieces
• Knight Frank Watch Index 10-year return: +138%
• Market trend: Independent watch lots at Christie's and Phillips grew 22% by volume between 2021 and 2023

How Should Investors Interpret This Event's Expansion?

For portfolio-minded investors, the scaling of Taste of Time carries three actionable implications. First, it confirms that the Netherlands and broader Benelux region are emerging as serious secondary markets for independent horology, joining Geneva, Hong Kong, and New York as geographies where price-setting transactions occur. Second, the event's independent-only format means it functions as a curated filter — only makers with genuine craft credentials and production constraints participate, which directly correlates with the scarcity metrics that drive long-term value. Third, the move to a more accessible venue increases liquidity signals: more buyers in the room means tighter bid-ask spreads and faster price discovery for pieces that rarely appear at public auction.

Investors who have already allocated to mainstream luxury watches through platforms or funds should consider whether their exposure includes independent makers. The performance divergence between independent and conglomerate-owned brands has widened since 2020, with Richemont and LVMH-owned brands facing headwinds from Chinese demand softness, while independents — whose buyers skew toward European and American high-net-worth individuals — have maintained or grown secondary market premiums. A targeted allocation to three to five independent references, held over a five-to-seven-year horizon, represents a credible diversification strategy within the broader alternative assets sleeve of a portfolio.

Investment Takeaway

The expansion of Taste of Time is a concrete, observable data point in the independent watchmaking investment thesis. When a specialist event outgrows its venue twice in three years, it reflects genuine demand compression against a structurally limited supply — the same dynamic that has driven returns in aged whisky casks, first-growth Bordeaux futures, and blue-chip contemporary art. Investors should treat this as a prompt to audit their alternative asset exposure and assess whether independent horology has a place in their portfolio. The entry window for several emerging independent makers remains open, but it narrows each time an event like this scales up and introduces new capital to the segment. Prioritise makers with annual production below 300 pieces, a track record of at least ten years, and references that have already demonstrated secondary market appreciation of 20% or more above retail.

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Frequently Asked Questions

What is Taste of Time and why does it matter to watch investors?

Taste of Time is an independent watchmaking event held in the Netherlands, now in its third edition. It matters to investors because it functions as a concentrated price discovery and demand-signalling event for independent horology — a segment characterised by extreme production scarcity and strong secondary market appreciation. Its expansion to a larger venue reflects growing buyer interest from financially sophisticated participants, not just collectors.

How do independent watches perform compared to mainstream luxury watch brands as investments?

Independent watches have outperformed mainstream luxury brands on secondary market appreciation over the past five years, with select references from makers like F.P. Journe and Greubel Forsey posting 40–80% gains. Mainstream brands have faced demand headwinds, particularly from softening Chinese luxury consumption, while independents — with their smaller, more geographically diversified buyer bases — have maintained stronger price floors and faster appreciation trajectories.

What production volumes should investors look for when evaluating independent watchmakers?

As a general rule, makers producing fewer than 300 to 500 pieces annually carry the strongest scarcity premium. Greubel Forsey, at under 100 pieces per year, represents the extreme end of this spectrum. F.P. Journe at approximately 900 pieces annually still qualifies as scarce relative to conglomerate brands. Investors should prioritise makers where demand demonstrably exceeds supply, evidenced by waitlists and secondary market premiums above retail price.

Is the independent watch market liquid enough for serious investors?

Liquidity in independent watches is improving but remains thinner than mainstream luxury references. Major auction houses including Phillips, Christie's, and Sotheby's have dedicated watch sales featuring independent makers, and the volume of independent lots has grown 22% between 2021 and 2023. Events like Taste of Time also facilitate private transactions. Investors should plan for a five-to-seven-year holding period to allow sufficient liquidity windows and to capture full appreciation cycles.

How does independent watchmaking fit within a broader alternative assets portfolio?

Independent watches occupy a similar role to aged whisky casks or fine wine — they are tangible, scarce, non-correlated assets with intrinsic craft value and a global collector base providing price support. A targeted allocation of 5–10% of an alternative assets sleeve to three to five carefully selected independent references provides diversification against financial market volatility while offering credible return potential over medium-to-long holding periods.

💼 Interested in alternative asset investment? Speak to the team at Whisky Cask Club — Singapore's leading whisky cask investment specialists.