MANILA - Venture capitalist and TV show host Kevin O'Leary might have dipped into several investments, but he considers his watch collection to be the best-performing among all of these.
According to a 2015 story published on Forbes.com, O’Leary’s collection consists of about 32 watches, including a Jaeger-LeCoultre Reverso, a Panerai Luminor Base Acciaio, and a Rolex Submariner--which if not with a metal bracelet style, would be fitted with his signature red strap.
This asset class "outperformed everything in the last 5 years," growing at least 400 percent, O'Leary told his audience at ANC's Leadership Forum series last Monday.
During the talk, he wore a red-strapped Rolex Daytona to go with his skull cufflinks.
"Now, everybody's into collecting watches because the appreciation is phenomenal. It's just one of those crazy asset classes and you get to wear them. That's also good," he said.
The value of watches shot up after the Paul Newman Rolex Daytona sold for about $17.8 million (about P944.4 million) in 2017, he said.
Dubbed Mr. Wonderful, O'Leary is described in ABC's "Shark Tank" as "shrewd," and he told the crowd during the forum that his love for competition often leads to his purchase of a watch.
"I like competing. I like kicking ass. I like being successful. The monetary rewards are interesting and I buy all the watches, that makes it more interesting," he said.
"Every time I close a deal, I buy a watch and I remember that deal with that watch. It's always great to remember the deal with the watch," he added.
O'Leary headlined ANC's Leadership Series in its fourth year. It was previously top-billed by billionaire philanthropist Richard Branson, former US Secretary of State Madeleine Albright and Mandalay Entertainment chairman and CEO Peter Guber.