PROFILE Exclusive Podcast W/ Neel Alwani @NeelTPT of TimePiece Trading [Full YouTube Interview]

PROFILEmiami had the exclusive opportunity to sit down with Neel Alwani, the CEO of Timepiece Trading to learn about his experience as an entrepreneur in the watch industry and get some insight into some of his favorite timepieces which include the Richard Mille RM35-02 Black TPT, which he actually named TimePieceTrading after the watch.

Founded in 2018, Timepiece Trading is a leading luxury watch retailer, specializing in the sale of high-end timepieces from some of the world's most renowned brands including Richard Mille, Audemars Piguet, Patek Philippe and Rolex, amongst others. With a focus on providing exceptional customer service and a wide selection of the latest and most sought-after models, we have quickly become the destination of choice for discerning watch collectors and enthusiasts.

FIRST ON PROFILE: Audemars Piguet Signs Lease at Eighteen Sunset To Open Miami's First AP House in Sunset Harbour

A new level of luxury is coming to Miami Beach’s Sunset Harbour district in the form of AP House. The boutique hospitality experience created by the Swiss luxury watch brand Audemars Piguet has leased 11,841 square feet at Eighteen Sunset – the landmark mixed-use project designed by DOMO Architecture + Design, which will also be home to the only Class A+ office product currently under construction on Miami Beach. It is slated to deliver late this year, with AP House projected to open in 2024. Just two office spaces on the fourth and fifth floors remain for lease.

Once complete, AP House will be an innovative residential salon concept made for intimate browsing, socializing and entertaining amongst existing and potential Audemars Piguet clients. This will be the 16th AP House location, following the recent opening of one in Los Angeles, adding to a portfolio of 14 others in major cities around the globe such as Bangkok, Barcelona, Hong Kong, London, Madrid, Milan, Munich, New York City, Shanghai, St. Barth’s, Tel Aviv, Tokyo and Zurich.

“The influx of best-in-class businesses and high net worth residents in Miami and Miami Beach has created a burst of demand for premium brand experiences,” said Bradley Colmer, Founder of Deco Capital. “Audemars Piguet’s arrival, in its most exclusive form, signifies Miami Beach’s evolution as a first-rate international destination and home for global luxury, brimming with five-star offerings.”

The AP House experience will begin on the ground-floor of Eighteen Sunset, where guests will enter into the brand’s exclusive lobby and take a private elevator to the top floor where they’ll be met with breathtaking views of Biscayne Bay and Downtown Miami via floor-to-ceiling windows and incredible wrap around balconies.

AP House joins a list of blue-chip tenants at Eighteen Sunset, including Pretium, a specialized investment management firm occupying 11,591 square feet on the fourth floor; a multi-billion dollar, publicly traded Canadian firm that signed an almost 20,000 square foot lease for the entire the third floor; and Uchiko, a restaurant concept by award-winning Hai Hospitality group, that will occupy approximately 6,000 square feet on the ground floor.

Eighteen Sunset’s ownership was represented by Stephen Rutchik of Colliers International and Neil King of CBRE. Audemars Piguet was represented by Jonathan Schley of CBRE and Lyle Stern of Miami-based Vertical Real Estate.

“Eighteen Sunset stands in a league of its own on Miami Beach and in the Greater Miami area. From the building’s tenant mix to its finishes and location, the development rivals best-in-class office properties in the Financial District, while offering the benefits of a boutique building in one of South Florida’s most desirable lifestyle destinations,” said Stephen Rutchik.

Located in Miami Beach’s Sunset Harbour district, one of South Florida’s most desirable shopping, dining and lifestyle destinations, Eighteen Sunset is Deco Capital’s signature mixed-use development project, rising five stories directly across from Biscayne Bay. The ground floor is home to approximately 17,000 square feet of restaurant and retail space, a central breezeway, and a cantilevered sidewalk connecting to Maurice Gibb Park. This is followed by parking on the second floor, and then Class A+ office totaling 40,000 square feet on the third and fourth, topped by an exclusive penthouse space, including a rooftop deck.

Images via Deco Capital & Audemars Piguet

Iconic Swiss Brands Hublot and Nespresso Join Forces To Reveal Big Bang Made From Recycled Nespresso Capsules

Hublot and Nespresso, two Swiss icons, have joined forces to reveal a fusion of innovation and sustainability with the creation of a Big Bang timepiece based on recycling and circularity. The Big Bang Unico Nespresso Origin is the first watch to be made using recycled Nespresso aluminum capsules and coffee grounds.

As part of its Second Life initiatives over the last seven years, Nespresso has partnered with prestigious Swiss brands to create new products from used aluminum capsules. In a world’s first, Hublot’s and Nespresso have transformed the used coffee grounds from the capsules into watch straps; the recycled aluminum fused with the aluminum capsules becomes the case, the bezel, the crown and the pusher.

The Big Bang Unico Nespresso Origin shares the values of innovation, excellence and sustainability, which are at the core of both brands. Founded in 1980, Hublot is renowned for its Art of Fusion, developing new alloys, materials and composites, pushing the boundaries of different materials and placing rubber at the heart of the watchmaking industry by using it for its straps.

Since 1986, Nespresso has not only revolutionized the Art of Coffee with its portioned system that perfectly blends precision with an unforgettable taste, but has also added even greater value with its recycling system, designed in 1991, that separates the aluminum from the coffee grounds, enabling each component to be repurposed. And that’s how a coffee capsule can now become a watch, from strap to case.

This is an unprecedented collaboration, signaled by Nespresso’s iconic “N” engraved on the crown, and its iconic colour – a nod to the Master Origins Peru Organic capsule. The density of the two materials is expertly blended to ensure the durability of the product. The Big Bang Unico Nespresso Origin’s 42-mm case is crafted in recycled aluminium, of which 28% comes from Nespresso coffee capsules, anodised in vibrant green, then satin finished and polished. The crown and pusher undergo the same treatment. The bottom of the case and the container are both made from Eco-Titanium (recycled titanium). The titanium deployant buckle of the rubber strap, with its decorative recycled aluminium cap, and the sport buckle of the Velcro strap are also in the same anodised green colour.

The Big Bang Unico Nespresso Origin takes the recycled coffee grounds from Nespresso capsules and applies the magic of Hublot’s patented One Click interchangeable strap system to them. To create the rubber strap, Hublot has skilfully balanced the ratio of each ingredient to achieve the perfect colour and quality. For the fabric strap, Hublot has collaborated with SingTex, one of Nespresso’s partners who was already using recycled coffee grounds to produce a fabric called Scafé. This 100% recycled fabric (composed of 5% coffee grounds and 95% recycled polyester) is being used for the first time to make a watch strap. A subtle balance, to ensure the durability of the bracelet, which also sees the rubber strap fusing 4.1% coffee grounds, 8.2% recycled white rubber and the usual Hublot formula.

It took Hublot an entire year of R&D, working closely with Nespresso, to finally achieve the perfect harmony of colors between seven different materials that make up the watch, from its case to its straps (anodized aluminum, the varnish on the dial and hands, the Hublot logo decal on the glass, the rubber of the strap, and the fabric, lining and hook & loop tape of the Velcro strap) and to ensure that this uniformity of color would stand the test of time.

In another first, the Big Bang Unico Nespresso Origin will come in the Hublot Greenbox case, a brand new case developed by this watchmaking manufacturer that will be used for all its watch collections in the future. Created entirely from oak, including its hinges, it is carved from mostly massive, traceable wood, whose sourcing and manufacture both promote short supply chains. It is designed to be a reusable item, with 98% of its removable interior made from eco-friendly and recycled components. It is made from recycled fabrics, plastic yarns and PET, as well as recycled paper and cardboard that are eco-labelled. For the collaboration with Nespresso, the Hublot Greenbox case is specially decorated with the two brands’ logos, affixed using coffee grounds.

“The Big Bang Unico Nespresso Origin is a watch born out of a close collaboration between the product development teams of Nespresso and Hublot, two pioneering Swiss brands, both of whom were founded in the 1980s. This is a watch that delivers three world firsts: a symbol of the infinite possibilities for upcycling: a Big Bang made from the recycled aluminum of Nespresso coffee capsules; the first watch with a rubber strap containing 4.1% recycled coffee grounds from Nespresso capsules and 8.2% recycled rubber; and finally, the first watch with a Velcro strap made with SCafé, a fabric containing 5% recycled coffee grounds and 95% recycled polyester. It took the R&D teams a whole year to achieve the uniformity of colour of the watch’s seven different materials, find the right balance of ingredients and perform the quality and durability testing on all the product components.” Said Hublot CEO Ricardo Guadalupe.

Images via Hublot

Hublot X PROFILEmiami Watches & Wonders Cocktail Debuting Hublot Novelties Collection

On Friday, May 5, with all eyes on Miami for Miami Race Week and the FORMULA1 Miami Grand Prix 2023, Hublot and PROFILEmiami teamed up to host Watches and Wonders Collectors Cocktail as Hublot debuted their ultra-exclusive, limited edition novelties for the first time in the United States. The lavish invite-only cocktail party was hosted overlooking the Atlantic Ocean and Haulover Inlet at The Ritz-Carlton Bal Harbour.

Guests enjoyed champagne and caviar while getting intimate with some of Hublot’s most exclusive timepieces and novelties including the $527,000 Integrated Tourbillon Full Blue Saphire, the Integrated Tourbillon Full Carbon, the Square Bang Unico Sapphire and Ceramic, the Unico Golf Sky Blue Carbon and other limited edition timepieces such as the Classic Fusion Chronograph Orlinski Titanium. The invite only event was attended by business leaders, watch collectors and influencers such as real estate developers Michael Konig of One Thousand Group, architect and designer Denio Madera, Marc Chasin of Eden Multifamily, Cullen Mahoney of Continuum Company, the newly minted President of Hublot North America, Natacha Lamour-Nahim, and was hosted by Demetri Demascus and Katya Demina of PROFILEmiami with Thierry Richard of Hublot’s Bal Harbour Boutique.

With Hublot’s Novelties collection the watch brand is taking a step to showing the industry that they are among the highest quality brands and manufacturers who produce their own materials and movements. In its 1.5 million square foot manufacturing facility on Lake Geneva in Switzerland, Hublot is constantly pushing the boundaries of horological innovation.

Hublot operates by the “be the first, be unique, be different” philosophy which has enabled Hublot to gain a remarkable reputation for excellence in the space of just a few decades in the fiercely competitive high-quality timepiece market. The focus is embodied in the art of fusion that Hublot has constantly advanced since 1980, when it designed its first watch combining natural rubber and gold. In 2004, the brand made this art of fusion the cornerstone of a founding spirit, expressed in infinite variations with a blend of traditional watchmaking savoir-faire, cutting-edge technologies and unexpected materials. In 2005, the Big Bang collection, a chronograph with an elegant, contemporary design, enjoyed resounding international success.

At the 2022 edition of Watches & Wonders, Hublot created a stir by unveiling a new square-shaped watch design inspired by the iconic Big Bang. True to form, Hublot took the opportunity to demonstrate its technical expertise. The specific features that contributed to the Big Bang Unico’s popularity were reinterpreted in this new format, including the case’s sandwich-like construction and the use of high-tech materials.

One year later, Hublot has taken the model back to the drawing board, this time exhibiting the Maison’s exceptional skills through the use of sapphire with the exclusive Square Bang Unico Sapphire, offered in a limited run of 250 pieces. Despite the two-fold challenge of its square format and the case’s multi-layered sapphire construction, Hublot’s engineers have successfully ensured that this timepiece is water-resistant to a depth of 5 ATM. The watches were on display at the Hublot X PROFILEmiami Watches & Wonders event.

In March 2023 Hublot also debuted the MP-13, a new 100% Hublot manufactured complication bringing together for the first time a Double-Axis Tourbillon and Dual Retrograde Display complications. To further enhance its magic, Hublot has crafted a tourbillon with two refined attributes: it is skeletonized and suspended. This architectural design grants the tourbillon a weightlessness that more traditional versions lack. The watch was also on display at the Hublot X PROFILEmiami ‘Watches & Wonders’ event.

Images by Bryson G Visuals, Hublot and PROFILEmiami

Is The Watch Market in a Bubble? Will it Burst Anytime Soon?

Article by Thierry Richard, Watch Expert

Something in the watch market has changed. Many say that this change is due to a “bubble” generating a surprising increase in price. The price of luxury items, more specifically pre-owned watches, has skyrocketed in the past 20 months leaving all buyers perplex on what is going on. But can it really be said that this market is in a bubble? 

Let start by saying that a bubble is generally characterized by an unjustified or rather irrational increase in prices fueled by scarcity, speculation and greed. Of course, this is a sensitive topic as it creates strong feelings, as value is so often subjective. That said, those who are participating in a certain way whether from passion, profit or both will always have something to say about if a bubble is forming or not and when it might burst.

Like the real estate and stock market, luxury goods such as watches can have correction and often reflect the sentiment of the market but on smaller scale. Fear of a recession, a global event such as war, inflation and supply chain distortion can all have a consequence on the watch market. 

Because I am a watch guy, we will discuss how a bubble could transform the watch industry and when it might burst and why. 

The Recipe of a Bubble

First, let me walk you through how a bubble is formed. 

You will recognize a bubble by its’ five phases. First, we witness a Dwindling Availability when you see inventory and availability of a specific item shrinking or gone altogether. Then comes The Boom Phase, when price increases and gathers momentum as more participants enter the market. The media then takes over and the fear of missing out on what could be a once in a lifetime opportunity spurs more speculation from an increasing number of buyers. Then derives The Euphoria phase, when watch buyers throw both logic and caution out of the window. Prices are out of control. New valuation metrics are created to justify the price increase, the phenomenon is all over social media and buyers believe no matter how high prices go, there will be always other willing to pay more. Slowly comes The Price Top Out, when prices reach their peak and sellers start dumping. Profits narrow as prices fall. But this irrational bubble can last longer than we imagine as emotions are involved. Finally, The Burst occurs, and the market falls apart. Panic sets in for the speculators and they liquidate at any price flooding the market with merchandise. 

What happened?

Before we jump the gun, let’s back track and see what happened during the past 24 months and where we stand today. 

During the pandemic, as the world stood still, money was printed and sent away, some people accumulated more disposable income and money floated into the real estate, stock, crypto and watch market boosting the consumer confidence and creating more millionaire than ever. The investor who didn’t care about luxury watches before suddenly saw an opportunity to make money. Flippers entered the game; popstars wrote song about their timepieces and social media became the vehicle of choice to share this unique opportunity.

At the same time, brands chose to tighten their inventory production on purpose or not, creating a perfect recipe for scarcity. Therefore, with close to no watches in store available for purchase or with 2-6 years long waiting list, the boom has been driven mostly by online platforms. With players like Watchfinder or Watchbox and Chrono24 which remain the world’s leading online marketplace for luxury watches with over $2.4 billion in transactions in 2020. This represents almost $1 billion increase compared to 2019. 

So, thanks to internet and social media, the second-hand luxury watch market has become not only acceptable but now, trending and cool. Clients have larger access to information and watch brands can no longer ignore the phenomenon. The pre-owned watch market is an opportunity to influence the long-term value of products, increase brand equity and most importantly, to recruit new customers. Some brands are taking initiative such as H.Moser & Cie and FP Journe with tailored Certified Pre-Owned offers, or more recently Zenith. For Julien Tornare, CEO of Zenith the brand’s Zenith icons program is the opportunity to “provide, via a trusted channel, a supply of second or third-hand Zenith watches that are authenticated, checked and maintained by the brand, so that we are sure that our end-users are getting the quality we want, and they deserve”.  That said, pre-owned watches from the big four such Rolex, Audemars Piguet, Patek Philippe, Richard Mille and even some Hublot were selling 5X on the secondary market for all the reasons above. 

Will the Bubble burst?

What you see in today’s watch market is a balancing act between inflation and customer confidence. Two opposites, both high. Confident consumers spending money is the key. However, if inflation continues to stay high and shows no signs of falling soon, choosing between wants and needs becomes a bit easier. After a while, the cost of living won’t leave room for even a “sure bet” on a watch. 

Subsequently, with the world opening again, the opportunistic trader and flippers who over-leveraged themselves now find themselves in a bit of a pickle. They need to get rid of their acquired watches to meet financial obligations and/or to minimize their losses. The result will be lower prices on the gray market and eventually high stock at the official dealers. It’s also worth noting that because of various reasons, watch buyers are now so frustrated with gray market prices and the unavailability of steel sports watches from Rolex or Audemars Piguet that they have changed their behavior. It’s becoming a matter of “enough is enough,” you could say. Still, it took consumers long enough to reach that point and prices recently dropped -40% on certain pre-owned models. 

However, as we discovered, it can be almost impossible to correctly spot a bubble every time, although there are certain signs of which to be wary.

As I said, consumer confidence is high despite a high inflation rate. And one way to protect yourself against inflation is by buying a luxury timepiece, one with a stable level of demand like a Submariner Rolex. Unlike other assets, watches are goods that in addition to having potential investment value and the possibility of being used. Even the younger generations have come to understand this.

Consequently, despite the uncharacteristic market spike and the potential correction in price, I believe watches are still a good alternative investment. The demand will continue to grow because apart from an object that shows status, or the more refined idea that wearing a mechanical timepiece shows knowledge and appreciation of traditional craftsmanship, watches represent an alternative asset class that is collectible, highly portable, and scarce considering growing market demand and limited production. From a certain point of view, this could protect the timepiece market from a dizzying and rapid fall. Thus, I believe that even though we might be in a bubble, watches are still a promising market, and that We might even see new brands gaining in popularity. Time will tell… 

Design 41 In Miami Design District Now Fully Leased After Swiss Watch Company Breitling Opens New Boutique

Design 41 in Miami Design District is now fully leased after Breitling signed a lease and opened a 1,832-square-foot boutique on the district’s prime Northeast 41st Street corridor. The 112 NE 41st St. store will showcase the latest watches modeled by Breitling’s “Spotlight Squad,” which includes Charlize Theron and Misty Copeland. Other tenants that have opened in Design 41 include bespoke perfumery Bond No. 9 New York, Rosenfeld Gallery – which only has one other location in New York City, and the first U.S. flagship store for Argentine leather goods brand Gaucho.

The lease was overseen by DWNTWN Realty Advisors Co-Founder and Managing Partner Tony Arellano and Executive Joe Fernandez, who represented the landlord to lease the entire 40,000-square-foot building. Design 41 was developed by Design District Development Partners.

“It is fitting that Breitling moves into the final available space on this important block and joins some of the world’s most luxurious retailers, such as Louis Vuitton, Ermenegildo Zegna, Tiffany & Co. and Burberry, in the Design District,” Arellano said. “We are proud of our role in leasing up Design 41 and helping the entire neighborhood reach its full potential.”

“We drew upon our unique knowledge of the neighborhood and strong relationships to accomplish a successful lease-up of Design 41,” Fernandez said. “Breitling’s new store there will undoubtedly rival its top-performing boutiques in major U.S. markets.”

Arellano and DWNTWN Co-Founder Marinoff have also played a pivotal role in Miami Design District’s evolution. Over the last seven years, the brokers have completed 22 transactions totaling more than $205 million in the neighborhood’s four-block pedestrian core. These sales represent most of the district transactions not involving Dacra’s assemblage, filling the gaps around the district’s core and making DWNTWN the neighborhood’s market leaders.

OMEGA Brings the Spirit of the Olympics to Miami Design District with Massive Art Installation And Influencer Studded Bash

OMEGA hosted an array of Miami’s most notable guests and influencers for an exclusive celebration honoring the opening of the OMEGA Olympic Swimming Pool Art Installation, which commemorates OMEGA’s 29th time as the official timekeeper of the Olympic Games.

The party, which was hosted at the OMEGA Aquatic Centre at Jungle Plaza, was attended by top Miami influencers, like Patrick van Negri, Eddie Otero, Ronald Thomas, Elizabeth Elias, Carolina Lindo, and more, while the night was DJ’d by the Tik-Tok famous DJ, Isaac Hindin-Miller. Guests experienced a luxury cocktail party while enjoying the beautiful Miami weather around the Swimming Pool Art Installation, which also included an “aquatic” performance by ambassadors dressed as Olympic swimmers.

The night was preceded by a private viewing of the installation and the Olympic themed OMEGA boutique in the Miami Design District and is just the kick-off to the month-long activation celebrating this years Tokyo Games.

To commemorate OMEGA’s long standing partnership with the Olympic Games, the Miami Design District boutique has been transformed into a special venue, celebrating the spirit of the iconic sporting event. OMEGA has been the Official Timekeeper of the Olympic Games since 1932, and will serve in the role for the 29th time when the competition begins on July 23rd in Japan. Visitors to the boutique in Miami will now have unique access to the occasion through a litany of pop ups and displays.

The boutique provides an experiential view of “A Journey Through Time” – an exhibit showcasing OMEGA’s history of timekeeping excellence and relentless pursuit of innovative technology. Upon entering the boutique, visitors are greeted with an abstract display of an original OMEGA starting block before being treated to an underwater view of a swimming race in progress, with sounds from the pool creating a sensory event in the boutique’s elevator.

The second floor of the boutique features an immersive experience for visitors to learn about OMEGA’s role as Official Timekeeper, through an array of unique installations that tell the story of their 89 year long history of timekeeping. One such installation is the Vintage Timepiece Exhibition, which includes one of the first starting pistols used by OMEGA.

There are also a few eye-catching moments for customers beyond the boutique too. These athlete-inspired surprises will be seen throughout the district, as OMEGA highlights its passion for sport in a truly fun way.

The activation will run through until August 29th in Miami Design District’s Jungle Plaza, giving visitors front row access to this exciting moment in Olympic Games history.

Imagery via World Red Eye