“The first deal we did together was a large package of watches from Indonesia,” says Eric Ku, co-founder of watch auctioneer Loupe This. “I remember calling [my co-founder] Justin [Gruenberg], quickly working out the details. He was the one and only call that I made.”
Eric and Justin have been friends and collaborators for more than a decade.
They first bonded over their mutual adoration for vintage watches as dealers on the trade show circuit.
Each had their own business, dealing in vintage Rolex, Patek Philippe and Cartier watches and discreetly sourcing rare models for clients willing to drop six or seven figures.
Justin grew up in a family watch and jewelry business in Beverly Hills, and founded his own watch retail venture The KeyStone out of West Hollywood.
Eric is the founder of vintage watch retail site 10 Past Ten, which launched in 2005.
The duo are bullish when describing their prowess and impact on the pre-owned watch scene.
They will tell you that executives at auction houses “revere and, increasingly, fear them”, and describe their research abilities as “forensic”.
They are, according to the two friends, “super dealers”.
Bursting onto the scene as part of a new wave of young dealers looking to shake up an old-fashioned industry, Eric and Justin knew that the collector community had long been frustrated by outdated rules and regulations.
After immersing themselves in auction houses and building their businesses, the two found themselves sharing their thoughts on the industry, its pros and cons, and their shared feeling that the information offered to bidders at most auctions was limited.
The answer was to launch their own take on watch actions: Loupe This.
Justin describes the sales platform as “a place where collector-worthy watches are presented” with as much transparency as possible.
Their goal is to host a thorough, real-time discussion of lots. Each item is part of an expandable catalog that allows comments and input from watch enthusiasts.
The platform is designed for every level of collector to access, passing on their shared love for the industry and art form to novices and experts alike.
Loupe This recently made the headlines, auctioning a 1967 Cartier London Crash for $1.65m in May last year, doubling the previous record at a legacy auction house.
This landmark sale has firmly established Loupe This as a business with colossal potential.