WHEN THE COLLECTOR IS ONE OF A KIND
Alfredo Paramico, luminary collector of high-end watches, talks about his untamable passion which he has turned into a successful business
Transforming a passion, that which made his heart beat during his childhood, into a real job represents one of the most basic and fundamental elements of human happiness. Alfredo Paramico, international star in the world of top-of-the-range watch collecting, fully succeeded in making it a reality, putting together the elements of a dream he had had ever since his childhood days and turning it into the incredible experience of a profession with legendary outlines. Between having that dream and its fulfillment, there was professional training culminating in a Masters in Econometrics at Bocconi University in Milan, and a move to London in 1994, to work as an investment banker at Bankers Trust. Subsequently, thanks to his specialization in the derivatives market, Paramico held increasingly prominent positions in major companies the likes of Donaldson, Lufkin and Jenrette, Caboto, Dresdner Bank. And finally Bbva, for which he was based in Milan and directed the Capital Markets activities for Italy for two years. Today, heart and brain are fully synchronized for Alfredo Paramico, just like the mechanism of a perfectly functioning timepiece. Once his experience in the world of finance had come to an end, he fully dedicated himself to collecting timepieces and building the first investment fund devoted exclusively to collectible watches. Neapolitan by birth and in love with the city of Milan, in 2014 Paramico moved to Miami where he works as a consultant and a dealer through A. Watches LLC, a company he started and manages. Alfredo Paramico’s story is therefore an exciting adventure, which never runs out of frontward leaps towards new challenges. In this interview we’ve attempted to take a journey into his universe made of beauty, care, passion and initiative.
Today Alfredo Paramico is a true star collector of rare and valuable watches, acknowledged worldwide as an prominent influencer in the field. How did your passion for timepieces come about?
Alfredo Paramico’s story is therefore an exciting adventure, which never runs out of forward leaps towards new challenges
There’s a family photo portraying me with my older sister. I am just four years old and she is two years older than I. In the picture my sister is looking at my wrist absolutely stunned, because I am wearing my mother’s watch. I remember very distinctly that it was a steel Zenith, typical ‘70s design. I’m quite sure I literally wore out my mother with my requests to wear it! The truth is that I’ve been attracted to small and heavy objects ever since I was very young; small because I could hide them
in my trouser pocket, and heavy because in my view they embodied something important. Being able to always have with me my precious object is something that has accompanied me throughout my life. At the end of the day, a watch perfectly sums up the characteristics of the object of my childhood desires.
What symbolic value do luxury watches assume in your imagination? And what drives you to continue to carry on this “precious fixation”?
In my opinion every collector draws lifeblood from the hope of finding the missing piece, sooner or later, or, better yet, something something hitherto unknown. I think about how many watches made in the ‘40s and ‘50s are still scattered around the world, and the mere thought of the utter joy I’d feel in finding one is what motivates me to carry on with my search.
Paramico has managed to put together the elements of a dream he had had ever since his childhood days and turning it into the incredible experience of a profession with legendary outlines
You have managed to perform the miracle of happily marrying your greatest passion with a winning business idea. What do you think is the best approach to achieve this perfect balance?
In my opinion any person, given the possibility of doing, and dealing with, what they are really passionate about, can achieve exceptional results. What would be a mistake that should not be made, on the other hand, is to think that everything is easy. At the end of the day, it’s still a job, which requires daily commitment, with requests from customers from all over the world, at any time, day or night, not to mention the need for great awareness when deciding to proceed with the purchase of an important watch; and even more so when recommending it to other collectors and clients to purchase it. As far as I’m concerned this is the most delicate part of my work. It gives me a great sense of responsibility to know that I have a person’s trust, and that my advice is deeply respected by that person.
Your collection is your work of art, where each piece is like a brushstroke destined to increase the beauty and value of the whole. In what way did you enrich your masterpiece over the years, and which are the pieces you are most proud of?
As with any collection there are “moments” and cycles. The taste stays more or less the same; those that do change are the small nuances, the details, the sensations. Of course, over the years knowledge increases but, at the same time, expectations also increase. Today I am no longer willing to compromise on the quality of a watch, no matter if it’s extremely rare. It’s really hard to pinpoint which watches I’m most proud of, each one of them tells a story, a moment in our life, the end of a search, the thrill for having completed it. Without a doubt, however, the steel Patek Philippe ref. 1518 was definitely a great attainment.
Now more than ever luxury watches guarantee a substantial economic return; What is the current situation in the Italian and European markets, and what development prospects do you foresee for the near future?
It is clear by now that the market is very healthy. Recent auction prices, which, to tell the truth, have been going on for years, prove just that. A watch is not just an expensive accessory any longer, but more and more an alternative investment to traditional asset classes. It is, by the way, very well seen and perceived especially as an alternative instrument in times of economic and financial uncertainty. The reason lies in the fact that a certain watchmaking production, and I am referring to the milestones of the Patek Philippe, Rolex, Cartier, Audemars Piguet productions from the 30s to the 60s, is really extremely rare.
What are the fundamental aspects to be kept in mind when evaluating a collector’s watch for men and what contributes to making a truly unique piece?
Without a doubt there are two: quality and rarity. Today perhaps quality matters most.
What kind of commitment does the care and expansion of your collection require from you?
Painstaking attention to changes, daily contacts with a great number of people, searches which are really exhausting at times, and an almost unlimited availability to interact with others.
What are the pitfalls that those who decide to dedicate themselves to top-level collecting can run into?
I believe that, as in any market, turning to a professional with a solid reputation is an increasingly essential condition. The feeling I have is that there’s no longer any room for approximation.
What emotions are unleashed in the soul of the true collector, and what has been the greatest emotion you have experienced ever since you’ve started collecting luxury watches? I have no doubts! Geneva, May 2007. After a long dinner with a well-known collector, I finally manage to convince him to sell me the steel 1518. A combination of truly unique sensations.