Ben Clymer

And then you walked into the AP boutique on 7th Street and said, hey, my name is Patrick.

I've spent a million bucks with this dealer that no longer exists.

Can I have the new ceramic derby on or whatever?

We're so pleased for you to come in.

We'd love to chat.

But you don't have a purchase history here.

So we're going to have to put you at the bottom of the list.

How would you feel about that?

Imagine you've been buying that product in the correct meat from an authorized dealer for a decade, and you just got told you had to start all over again.

And that is what's happening in the watch world right now.

I'm not singling out AP or anybody, but it's the arrogance of some of these brands that are very hot to think that they can continue to treat people that way, even though everything is cyclical.

And I've seen all these brands trade below retail, just like we're seeing them trade above retail right now.