[sygazelle]

A recent thread by a guy that wants to buy an expensive Rolex before his wedding got me thinking.

I get the attraction of a magnificent timepiece. I'm just wondering where on the scale of importance do these high end watches fit. For sake of discussion, say a high-end watch is anything North of $20,000.

Who among you would buy a high-end watch before you have other major financial events in your life covered: e.g. wedding, children, home purchased, retirement account established and regularly funded, education, car, etc. Where does a high-end watch fit in terms of priority?

For those who chose a high end watch over these other important uses of funds, what's the rationale? Investment? Important for your job? Impress the ladies (or men?), just because you want to?

Please don't think I am wanting to judge other people's purchase logic, I am simply wondering what drives the decision. Life is short and people should buy what they want. There are so many high-end watches sold so there is certainly a market.

For myself, I am comfortable but not loaded by any means. I have a Tag, Omega Seamaster, and a Baume & Mercier. They are all nice but certainly not in the high-end range. No one is going to be impressed and say, look at the awesome watch he's wearing. Once in awhile I think about a high end watch but so far other ways to spend money have won out.

So, what motivates you all?

[1MOREMOD]

Women gets a ring told wife I get an engagement rolex

[sygazelle]

Originally Posted by 1MOREMOD

Women gets a ring told wife I get an engagement rolex

That makes perfect sense. I'm already married. I'd have to "upgrade" her ring to play that card.

[csu87]

I have seriously considered buying a couple watches at that $20k mark a few times, but everytime I actually think about it, I picture all the things I can buy with that $20k. And if I did have a $20k watch, I'm not sure how often I would wear it. I tend to wear my cheap $100-300 watches much more than my $3k-5k watches just for the fact that I will bang my wrist against something hard that will mess it up.

Maybe one day I'll splurge on a $20k watch, but I highly doubt it unless i win the lottery.

[PoorLurker]

$20k? For some people that's a couple years of depreciation on their BMW. Watches last a lifetime and are heirlooms.

Some watches become more collectible and hold their value rather well, so total cost of ownership isn't as much as one would think. However, the cost of membership is a pretty hefty upfront price.

Source: Me, who doesn't own an expensive watch, haha

[jtodd_fl]

Originally Posted by PoorLurker

$20k? For some people that's a couple years of depreciation on their BMW. Watches last a lifetime and are heirlooms.

Some watches become more collectible and hold their value rather well, so total cost of ownership isn't as much as one would think. However, the cost of membership is a pretty hefty upfront price.

Source: Me, who doesn't own an expensive watch, haha

This is it though. It is a far cheaper hobby than cars. You could by an M2 or a $60K watch. The watch has lower maintenance cost and will either a) hold most of its value forever or, b) be an asset that your grandkids can have ... And theirs ...
Also, if you ever need more liquidity, these watches are generally readily convertible to cash. Most don't appreciate but will retain a lot of their value. I would not do them before most other things are reasonably settled, but it is a great way to park some cash and get some enjoyment out of it.

[David70]

If the idea is buy the expensive watch before the wedding because as a couple it would never fly is a horrible idea. Once wedding plans are made I would expect both would look at really big purchases together before moving forward with them. If you can reasonably afford it and both are ok with it then great.

Who among you would buy a high-end watch before you have other major financial events in your life covered: e.g. wedding, children, home purchased, retirement account established and regularly funded, education, car, etc. Where does a high-end watch fit in terms of priority?

I would put a $20k watch below all of them (would laugh at the guy wearing a $20k watch that can't afford to buy a house, maybe saving for his gold teeth?) and if you are going to say it is a good investment then make sure you add in insurance every year, any repairs and a decent % of return, not "I bought it for $20k and 20 years later sold it for $30k when my son was headed to college" when a good investment would be worth $80k (less than 8% return).

[Scoob13]

Originally Posted by 1MOREMOD

Women gets a ring told wife I get an engagement rolex

That is exactly what we did. She got her ring and then two weeks later I got my Sub-C.

[overcoil]

To change the subject to about watches as an investment.
I would guess most new watches will lose value and never gain back or add value.
Yes, Panerai is excellent at introducing and distributing models that dealers sell before getting the inventory but that is ficklel side of the market. The last Panerai collector I talked to said it's pretty much B.S. with Panerai now.
Now since China and Russia ( not sure about Gulf States ) dealers are sitting on inventory seems like a bubble has burst.
Rolex & Patek are a special case but the rare of those brands cause the auction bonanza.
MB&F and the quarter million dollar stuff is collector territory and don't know that they resell well.
Twenty-thousand is a weird price point for watches - usually gold and in-house-movement - pretty much run of the mill Patek, that'll never turn a profit?
If your a collector and buy a bunch of stuff, maybe you'll posses a future collectible, really the whim of the market and very hard to predict. Really the Daytona is a freak in how it became notorious, how many could have predicted?
Curious what others think ?
BTW I'm looking forward to the Bulova Curv so I'm not writing from experience.

[Aust350z]

A watch is to a man, what jewelry is to a woman.

[csu87]

Originally Posted by ScottSinger

To change the subject to about watches as an investment.
I would guess most new watches will lose value and never gain back or add value.
Yes, Panerai is excellent at introducing and distributing models that dealers sell before getting the inventory but that is ficklel side of the market. The last Panerai collector I talked to said it's pretty much B.S. with Panerai now.
Now since China and Russia ( not sure about Gulf States ) dealers are sitting on inventory seems like a bubble has burst.
Rolex & Patek are a special case but the rare of those brands cause the auction bonanza.
MB&F and the quarter million dollar stuff is collector territory and don't know that they resell well.
Twenty-thousand is a weird price point for watches - usually gold and in-house-movement - pretty much run of the mill Patek, that'll never turn a profit?
If your a collector and buy a bunch of stuff, maybe you'll posses a future collectible, really the whim of the market and very hard to predict. Really the Daytona is a freak in how it became notorious, how many could have predicted?
Curious what others think ?
BTW I'm looking forward to the Bulova Curv so I'm not writing from experience.

You almost need to look at watches like cars. If you buy new, you will lose money most times. But if you buy used, you wont and can potentially make some money.

I havent bought a new watch in years now. Through ebay and the watch forums and a few other online retailers, you can find used watches for great prices. And the best thing is, the used prices dont really go down unless there is an influx of inventory. I bought an Omega and Tag last year used in great condition for the same price, if not a little less, than what I can turn around and sell them for today. And Ive had my eye on an AP that everytime I see it pop up used, its the same price as the last time.

BTW, that Bulova Curv looks pretty sweet.

[BEM-S4]

Originally Posted by David70

If the idea is buy the expensive watch before the wedding because as a couple it would never fly is a horrible idea. Once wedding plans are made I would expect both would look at really big purchases together before moving forward with them. If you can reasonably afford it and both are ok with it then great.

My brother has a watch slush fund set up for just such things. Wife doesn't notice bc he's always got something new, she thinks they are loaners from the jeweler.

[E92LNGCGY]

Personally I do collect watches and have a good number of them. I would not buy a watch over the other things you listed though. However I have an account set up for watch purchases. Would I spend $20k+ on a watch? Yes and I have done it a few times. As for making a profit on watches generally that doesn't happen but depending on which one you buy it will hold value much better than others. If you buy watches just to make a profit then you would need to get limited edition watches from truly high end brands.

[DfVgyCjmFQnu]

Originally Posted by csu87

You almost need to look at watches like cars. If you buy new, you will lose money most times. But if you buy used, you wont and can potentially make some money.

I havent bought a new watch in years now. Through ebay and the watch forums and a few other online retailers, you can find used watches for great prices. And the best thing is, the used prices dont really go down unless there is an influx of inventory. I bought an Omega and Tag last year used in great condition for the same price, if not a little less, than what I can turn around and sell them for today. And Ive had my eye on an AP that everytime I see it pop up used, its the same price as the last time.

BTW, that Bulova Curv looks pretty sweet.

Which are the best watch forums and online retailers to purchase from? Thank you!

[overcoil]

One among a few
http://www.timezone.com/

[csu87]

Originally Posted by Ligament

Which are the best watch forums and online retailers to purchase from? Thank you!

watchuseek is where the majority of my purchases come from. CrownandCaliber is another good place.

[Irishsig]

Originally Posted by Ligament

Which are the best watch forums and online retailers to purchase from? Thank you!

Before I got into modding my M4 most of my spare cash went into watches & guns.
As mentioned above watchuseek watch forum is awesome and for purchasing new/used watches of any style/price watchrecon.com
You can setup email alerts to be notified if a particular watch goes on sale throughout several forums.
Great for if you have some money burning a hole in your pocket.

[porshah]

I think for most people "high end" watches are a treat. Most likely if you can afford a $20k watch, you are not concerned about being able to afford a house or a car or a wedding ring, etc...

For me watches have become a self reward. I set a goal for myself. If and when I accomplish that goal, I reward myself.

[jpdchicago]

Buying is one thing but where do you sell once you get tired of the watch you own at some point and want to change.
For example I own a Rolex SS Daytona and ordered the new ceramic bezel Daytona and might decide to not keep both...
Not sure high end watches are as "liquid" when time comes to sell.

[E92LNGCGY]

Originally Posted by jpdchicago

Buying is one thing but where do you sell once you get tired of the watch you own at some point and want to change.
For example I own a Rolex SS Daytona and ordered the new ceramic bezel Daytona and might decide to not keep both...
Not sure high end watches are as "liquid" when time comes to sell.

Try http://www.rolexforums.com/

[Carnage]

I had an extra 10K to spend and it was between a Submariner or 9,259 corn dogs at Sonic. I went with the Submariner.

[neverdone]

Originally Posted by Carnage

I had an extra 10K to spend and it was between a Submariner or 9,259 corn dogs at Sonic. I went with the Submariner.

The hard decisions we have to make sometimes. It's terrible. Life shouldn't be this hard. I reward myself generally. However I haven't bought a 20k watch and I don't think I ever will, the most expensive watch I have is 2k. That will change with time and depends on how nice I am to my wife.