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7 January 2020, 09:49 AM | #61 | |
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7 January 2020, 09:49 AM | #62 |
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7 January 2020, 10:57 AM | #63 |
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5212A Prices dropping
Called Patek AD in Seattle and was told there is a 3 year waitlist for 5212 and most AD will only get 1 per year
Prices definitely won’t be coming down anytime soon |
7 January 2020, 11:23 AM | #64 |
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If I could get a 5212a from my AD I'd buy it today! I normally hate dress watches but this one to me is a must get.
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7 January 2020, 11:23 AM | #65 |
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The first run is always small and then PP ramp up production....doubt this will be any different but who cares...buy it if you.like it...move on if you dont
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7 January 2020, 12:35 PM | #66 | |
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I don’t want to buy another Patek and lose my shirt. I bought 5170 for $85K from my AD few yrs ago and went to sell and couldn’t get an offer above $39k. Just disgusting. Buying what you love is NOT a financially smart thing to do. I won’t buy 5212 unless I won’t lose 45k like my 5170. I look at my 5170 and want to throw it in garbage because that’s how the market views it apparently |
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7 January 2020, 12:46 PM | #67 |
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^^ I think this discussion has been had ad nauseam in various threads.....you are confusing collecting with investing....collections dont always have to yield a profit but offer an intrinsic enjoyment from collecting...maybe you neednto.lower your price point where it wont hurt so much....I have a very simple view. Why would I think a watch I buy today is worth more than when I walk.out the dealer? Only scarcity and desirability. If I can have a new watch at par why would I.buy it at par pr premium? I wouldnt...to ne honest on a $85k watch I wouldnt even be interested in a $10000 discount versus buying straight from.the dealer...it needs to be worthwhile!!! Also when I sell to a grey he needs to.make a 20% mark up and the final.price needs to be less than retail by a similar amount....as for the 5170 yes it's sad...but that has nothing to to do with price it just want really loved....I think the 5170G fantastic and a real bargain at $40 which is what I would pay today
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7 January 2020, 12:51 PM | #68 | |
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7 January 2020, 01:02 PM | #69 | |
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Yes I agree. But you are only looping in two groups investor and collector and there is much more than that. I am not a collector and I am not an investor I just love watches. When I buy a watch I am OK with taking a loss. But I am not ok with a $45,000 USD loss. I can afford to take the loss, but it also totally removes enjoyment from this hobby. If I buy an $85,000 Patek and it is worth 60 or so that is ok. Like my 5905P I bought for $86,000 USD equivalent and it is now worth about 65,000. 20K loss is ok but 45k makes me not like the hobby. |
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7 January 2020, 01:03 PM | #70 | |
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5212A Prices dropping
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If you think I buy watches to appreciate you’re also missing point. I buy watches because I love them don’t care about appreciation and I’m happy with 20K loss. 45K loss takes fun out of it. People on here are so quick to crack down on people who ask about value because they don’t want to take a big loss. Not everyone who asks about value is some investor we just want to not lose our shirts and take a bath and that a purchase is going to be within our own acceptable level of loss. Everyone’s tolerance is different. You might be ok buying brand new 5170 for 85,000 and having it be worth 39,000. I’m not and it has nothing to do with “investing” |
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7 January 2020, 01:09 PM | #71 |
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Just wanted to say most of the guys here actually don’t lose money... they might just say it to make everyone happy...you might lose money on 1 piece but in aggregate most people are prob neutral to up.
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7 January 2020, 01:11 PM | #72 |
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Your aggregate is probably +2,065,077, using my back of envelope calculation.
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7 January 2020, 01:12 PM | #73 |
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7 January 2020, 01:15 PM | #74 | |
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Only if you have Nautilus. I have 5170, 5905, 5296, 5119, 5130, etc. all bought new in last 5 yrs and I lost money on every single one. It’s okay to lose money and I’ve kept all of them and don’t plan to sell. But knowing what I lost on 5170 makes me sick. |
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7 January 2020, 01:16 PM | #75 |
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Yeah. You lost money. Sorry buddy...
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7 January 2020, 01:18 PM | #76 |
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7 January 2020, 01:21 PM | #77 |
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That’s a good way to look at it. I view all things as assets...just a different approach. Just like stocks and property...if it went down my asset value went down.
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7 January 2020, 02:00 PM | #78 |
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Interestingly I put my watches through the books as an asset but just like cars etc and even some of my speculative properties (piece of crap that I own in Boracay) I depreciate monthly....now in some cases I have a residual value at the end of the depreciable life but never more than 50%. I havent even really lost money on the other dog...5930...I paid £40 200 after VAT. With various price increases (ignore time value of money) it's probably a $48k watch today. So it's a loss of $5000 since December 2016 when I received it or $500 per wear 🤣🤣🤣
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7 January 2020, 02:16 PM | #79 | |
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7 January 2020, 02:38 PM | #80 |
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5 year straight line with residual value....that's for internal use not tax. In certain tax jurisdictions the test is whether you are a collector or dealer. A dealer they would classify as someone who buys and sells regularly and whilst you may not be a true dealer you could be dragged into be classified as one. That would mean that profits would be taxed and of course losses deducted. I avoid flipping for this reason
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7 January 2020, 03:35 PM | #81 |
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$86000 for a new 5905P. That’s crazy. I’d shoot myself but can’t afford the bullets. I paid $62,500 new from my AD. And paid $65,000 for a new 5170R from my AD. Sold both and lost a little on each but never thought it would be otherwise.
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7 January 2020, 03:41 PM | #82 |
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7 January 2020, 03:53 PM | #83 |
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7 January 2020, 04:55 PM | #84 |
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7 January 2020, 07:53 PM | #85 | |
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7 January 2020, 08:30 PM | #86 |
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7 January 2020, 08:47 PM | #87 |
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7 January 2020, 11:47 PM | #88 |
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7 January 2020, 11:49 PM | #89 |
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7 January 2020, 11:51 PM | #90 | |
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Your post was funny because you spoke of throwing your watch in the rubbish bin because it lost value. I do understand your point. Many try to make their passion "break even," with the head balancing out decisions made with the heart. Good luck with that. However, I don't think I'm missing the point. If you say you buy watches because you love them, then I'm happy for you. But, if someone tells me they buy watches for the love of them but are really unhappy that one of their watches has depreciated in value, that tells me that the monetary value of a watch may be more important that intrinsic beauty and aesthetics of the watch in question (which is likely why you bought the watch in the first place). There's nothing intrinsically wrong with that perspective. It's just that 90% of new goods we buy devaluate. That's a simple fact. If you can spot the 10% that don't, good luck to you. In this case, you articulated that you cant look at your watch without seeing its value over its beauty because "the market" values it at less than when you bought it. |
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