do you consider your Rolex or other luxury watch as a part of your ''total''

[crazymcmichael]

Originally Posted by dmash

Still don't really understand what you're even getting at with your responses.

If what you're stating is
-you're unemployed
-own nothing to your name but a few SS Rolex models
-go on a few nice vacations a year

.....then perhaps you should think about selling those and investing into other stuff seeing as you have zero assets Confused...how do *you* have money for vacations, and are wanting to save money, if you're unemployed? or did you mean 'my wife pays for me vacations and gives me a stipend'.

Lol You don't understand what i mean.
I feel that there is enough money in my bank-account to own a few good watches, and i can(if i wish so) go every month for a holliday, but i'd rather save that up to build a structural higher amount of cash in the account.
So i am not owning only a Rolex, i have more than average money in my bank-account and i have more save money a month than the average person in my country. And yes, my wife also has a good monthly payment. i have a normal monthly payment and i am in a structural monthly 1000dollar+ which i can save, go on holliday with or buy watches or whatever i want.

[Flier]

Originally Posted by dmash

I think this would be situation dependent.

If you have a $8000 Rolex or two....then no. If you have a couple Patek Grand Complications....how can you not count that as part of your worth? That’s worth more than a lot of people’s homes...

Disagree
If your salary is 2000 per month and you have an 8000 rolex then yes
Its down to your economic status I believe

[Mr. K]

I'm down to 9 Rolex. I do consider them an asset and add them in to my net worth. It is enough value to be considered. However, I would value them at about 50% of what I paid for them. While they are likely valued at more than that, I am very conservative in my estimation.

I always thought it would be good to have some money in physical items. I would buy art but it is just not my thing, and watches are.

[zjd168]

It is irrelevant if or not you want to include it in your own calculations, however watch collection normally does not count as your assets when applying for loans/mortgage or brokerage account margin credit evaluation.

And don't count on that for emergency funding either.

On the other hand, include or not, for most people it will just affect the last digit of the asset figure, insignificant anyway.

[dmash]

Originally Posted by Flier

Disagree
If your salary is 2000 per month and you have an 8000 rolex then yes
Its down to your economic status I believe

If your salary is $2000 a month, should you really be buying an $8000 Rolex? A decent apartment (in a non-mainstream city) with utilities is going to be around $1000 alone. This is before food, car (if needed), insurances, and other various products.

Just being realistic.....even if you saved for 7 or 8 years, that means it's 7-8 years you've put no money to the side for emergencies, retirement, etc....

[superdog]

Originally Posted by crazymcmichael

But when this all happens your bank-account is faded to... Money won't be worth a penny and perhaps the best investment is gold than.
Are you guys preppers or what?

What would be worth more, devalued currency?

Or, a timepiece that you can't sell to get that devalued currency?

It is pure insanity to think of your watch collection as part of your net worth.

It is money gone and money spent. It is a paper weight until you sell it.

[crazymcmichael]

Originally Posted by dmash

If your salary is $2000 a month, should you really be buying an $8000 Rolex? A decent apartment (in a non-mainstream city) with utilities is going to be around $1000 alone. This is before food, car (if needed), insurances, and other various products.

Just being realistic.....

We have allready a appartment in a very popular city.........................

[dmash]

Originally Posted by crazymcmichael

We have allready a appartment in a very popular city.........................

You, or your employed wife

You better hold on to her or you're going to need to sell your Rolex models for lunch money.

[crazymcmichael]

Originally Posted by dmash

If your salary is $2000 a month, should you really be buying an $8000 Rolex? A decent apartment (in a non-mainstream city) with utilities is going to be around $1000 alone. This is before food, car (if needed), insurances, and other various products.

Just being realistic.....even if you saved for 7 or 8 years, that means it's 7-8 years you've put no money to the side for emergencies, retirement, etc....

Sorry, just saw that you react on another person now..
But if Rolex watches are only available for the super rich than? Why aren't they priced 10 times the price than? If someone feel in love with a watch rather than with a ????? why not man?? if you sorted out for yourself that you can live with it, and aren't in any kind of debts why not?? is a watch necesarry a item to wear on the golf course only? I hate spending money on clothing for example, you know how much people spend thousands of dollars a year on just nothing but a few shirts or a pair of shoes. Who is the idiot than? The shoe buyer or the watch buyer?

[crazymcmichael]

Originally Posted by dmash

You, or your employed wife

You better hold on to her or you're going to need to sell your Rolex models for lunch money.

I am sure now,, you are a jealous cheap bastard i see this kind of reactions quite often when i am traveling or doing something

[dmash]

Originally Posted by crazymcmichael

I am sure now,, you are a jealous cheap bastard i see this kind of reactions quite often when i am traveling or doing something

Really? Completely uncalled for. We're all joking all you do that? Ok

[crazymcmichael]

Originally Posted by dmash

Really? Completely uncalled for. We're all joking all you do that? Ok

Well man,, this reactions i see a lot in the poor working-class persons... But.. If my parents and my grandparents had all a far above average education and money... And they where able to give me a xx amount of money as a donation, and i get a monthly ''salary'' with it, what is your problem?

[dmash]

Right, the 'reactions of poor working-class persons'? Perhaps delusions of granduer?

I have nothing more to say, especially when you turn a simple conversation pertaining to financial capability vs luxury item purchasing into insulting behavior. Nobody was ever insulting to you. You blatantly stated yourself that you're unemployed and your wife is the only one working. I reiterate that with your financial situation and you become offended? Okay. Have a good day.

[superdog]

Oh boy.

[watchbowl]

Interesting

[SDRider]

While it certainly has value I do not consider my watches as being part of my net worth. For one, they simply don't add up to that much and second, they are not nearly as liquid as cash.

[Flier]

He even PM me lol
I explained that in my case I saved for a while to get my Sub
While others just can just afford it easily
I consider my sub an asset
Really guys I hope I did not offemd anyone
But thats the message I tried to bring across but is really dissapointing that the trend
Is to ask a question amd them react when the opinions disagree

[Widows Son]

Wow!!! This thread took a 180!!!I don't take my collection as being an investment, I wear my watches 24/7. Now if someone had a crystal ball and could predict which models are going to skyrocket in value, that would be different. Then they could take a dozen or so BNIB watches and stick them in a safe and pull them out in 25 years or so. Even then, will they appreciate more than if you had put the money in stocks, bonds, or annuities, who knows......

[crazymcmichael]

Originally Posted by dmash

Right, the 'reactions of poor working-class persons'? Perhaps delusions of granduer?

I have nothing more to say, especially when you turn a simple conversation pertaining to financial capability vs luxury item purchasing into insulting behavior. Nobody was ever insulting to you. You blatantly stated yourself that you're unemployed and your wife is the only one working. I reiterate that with your financial situation and you become offended? Okay. Have a good day.

I don't agree with you.. You started with ignoring questions. Look, i also don't have to explain exactly to you how i own something, how i can afford to do??? Right? You started with this questions. As they would say in Russia: you are crying like a child. But i think you feel like YOUR money is personally ripped-off by my unemployedness. You are acting exactly the same as a lot of people i met and i try to avoid
I am proud of you that you represent the common-man but it isn't necesarry to react in this topic if you feel so much anger...

[Bo-Dacious]

Originally Posted by crazymcmichael

Anyone here, recently i heard a story from a dude who putted serious like 80% of his money to watches where he known from that they wont loose a lot of value. Now this is a bit extreme, but i consider it not as crazy as the dude was a watch dealer himself and he just liked a serious amount of watches rather than a serious amount of cash in his bank account(now i think this wasn't wrong in his case either) but i'm unsure.
Now offcourse, certain ROLEX,AP,PP and few other watches don't depreciate a lot value-wise, i won't call it an investment as you buy it for pure joyment and i'd rather invest in stocks or savings than a watch if the idea was purely to ''make or gain money'' but do you consider your watch(es)(collection) as a wealth preserver? I mean, there are more crazy things to do in life...... Buying new cars, spending serious amount of cash on luxury clothing that are garbage after a year or 2....
Do you consider it as a serious part of your net worth? Or do you see it as ''just'' a watch and money gone?
Offcourse i understand that if you buy certain brands ur money would be gone for a big part, especially when bought new.. But to me these brands are also not so interessing mostly as i just don't like there watches.

what do you think about this guys?
Rocking more cool watches from ur hard earned money and having less savings or more savings and less fun with watches

Depends on who's asking for your PFS.

[dmash]

Originally Posted by crazymcmichael

I don't agree with you.. You started with ignoring questions. Look, i also don't have to explain exactly to you how i own something, how i can afford to do??? Right? You started with this questions. As they would say in Russia: you are crying like a child. But i think you feel like YOUR money is personally ripped-off by my unemployedness. You are acting exactly the same as a lot of people i met and i try to avoid
I am proud of you that you represent the common-man but it isn't necesarry to react in this topic if you feel so much anger...

That’s what you aren’t even comprehending. I’m not really representative of the ‘working class’ man as you repeatedly claim in a derogatory manner. I just don’t see myself above other people as it seems you view yourself.

And with that, I’m don’t conversing with you. Not wasting my time farther.

Originally Posted by Flier

He even PM me lol
I explained that in my case I saved for a while to get my Sub
While others just can just afford it easily
I consider my sub an asset
Really guys I hope I did not offemd anyone
But thats the message I tried to bring across but is really dissapointing that the trend
Is to ask a question amd them react when the opinions disagree

Who pm’d you? Not me...

[crazymcmichael]

Originally Posted by dmash

That’s what you aren’t even comprehending. I’m not really representative of the ‘working class’ man as you repeatedly claim in a derogatory manner. I just don’t see myself above other people as it seems you view yourself.

I’m truly done w this conversation with that, not wasting my time farther.

Well, this is exactly what you gave to me at first..... a rerogatory answer! Don't you see that?

[yxc145]

If he is a dealer, I don't think it is crazy that he spends that much money. I am sure all the big trusted sellers on the forum spent tons of money keeping their large inventory.

I don't plan to sell my watches, so I don't consider them part of the asset. But good to know the watches I own keep pretty good value and I got them at good price.

[indigo993]

Originally Posted by crazymcmichael

Well, this is exactly what you gave to me at first..... a rerogatory answer! Don't you see that?

Congratulations on being very wealthy!

[strettyend]

Some conflicting information in here. Whether or not you include your watches in your personal calculation of NW is I suppose a personal decision. However, if you own your watches outright and there is a sizeable secondary market where similar watches are trading hands then theoretically you could "mark-to-market" your watch and ascribe some asset value to it. It's no different than any other asset class. Now do I consider it to be as liquid as cash or stock? Of course not, and I don't buy on the pretense that I'm adding to my NW, but there is a value ascribed to them should I look to unload.

[indigo993]

Originally Posted by strettyend

Some conflicting information in here. Whether or not you include your watches in your personal calculation of NW is I suppose a personal decision. However, if you own your watches outright and there is a sizeable secondary market where similar watches are trading hands then theoretically you could "mark-to-market" your watch and ascribe some asset value to it. It's no different than any other asset class. Now do I consider it to be as liquid as cash or stock? Of course not, and I don't buy on the pretense that I'm adding to my NW, but there is a value ascribed to them should I look to unload.

+1 well said

[tyler1980]

Originally Posted by superdog

What would be worth more, devalued currency?

Or, a timepiece that you can't sell to get that devalued currency?

It is pure insanity to think of your watch collection as part of your net worth.

It is money gone and money spent. It is a paper weight until you sell it.

i still think the residual value is an asset and part of your net wort. How much of your assets that should be in watches is of course subjective. The value should be realistic and not retail of course in 99% of cases.

If you get sued have a judgment against you for instance you can bet your life the court will count that as an asset just like cars, boats, private jets, whatever. No more a paper weight than gold bars IMO and that is most certainly an asset. Not a gold bug myself though.

[VicLeChic]

They're absolutely part of my assets and subsequently add to the net worth in my case. I even update their market value in the secondary market on a monthly basis. If they have a market value, why shouldn't they count as assets in your balance sheet?

[Swearengen]

Maybe lower of:

Cost or,
Net Realisable Value

Originally Posted by 00Seven

I include the asset value (at cost basis) on my personal balance sheet.

[crazymcmichael]

Originally Posted by indigo993

Congratulations on being very wealthy!

The only thing i tried to explain is that if:
I have enough money to enjoy a few hollidays
I have enough money to save a monthly amount of cash
I have enough money to live and eat normal
I have enough money to have no debts

I feel like i have enough money to own a few good watches to... There is no point in creating a standard for someone else that you don't know to ask the question wheter or not he or she is able to own a ???
It is Obvious that some people have more, some people have less
and it is also Obvious that we are not all blessed with the genetics of messi or Justin Bieber.
And if i say i own ''enough'' my question was not about wheter or not i am wealthy yes or no, the question was about the guy i talked with and what you think about that.
And the reaction of the GER-USA guy that was sort of snobbish behaviour to me personal as a unemployed and asked a lot of strange questions HOW i am able to save, go on holliday. And that makes me a bit angry, sometimes a person can have a lot of bad luck right? But why must people always(i am sure it is) ask jealous about how anyone can do something they want. If i have enough money and i don't do anything illegal i don't see why he is making a point out of my situation. Perhaps i am blessed with the fact that i have enough money, on the other side you can see that i am not blessed at all with the situation i am in... So this was kind of a sadistic,agressive and personal take to me... you see??