ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
13 August 2015, 11:23 AM | #61 |
2024 ROLEX DATEJUST41 Pledge Member
Join Date: May 2011
Real Name: Daniel
Location: Minneapolis, MN
Watch: Wilsdorf(s)
Posts: 10,190
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2 weeks is the most I would ever spend, but certainly individual choice, passion and circumstances will dictate for others. I am probably much more conservative (cheap) than others on TRF when it comes to watches.
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13 August 2015, 11:48 AM | #62 |
"TRF" Member
Join Date: Jan 2011
Real Name: gus
Location: East Coast
Watch: APK & sometimes Y
Posts: 26,042
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handle your business and the rest is for fun
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13 August 2015, 12:01 PM | #63 |
"TRF" Member
Join Date: Aug 2013
Real Name: Won
Location: Asia
Posts: 1,430
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Wow, this is a tough question especially given the financial climate over here
In any case, long story short -- yes, I have spent more than a months salary on a watch. And yes, I would spend a year's salary on a watch as well. Thankfully, I have a small business on the side, as well as several part time jobs. Salary from my full-time job goes to paying the bills, and everything else I have, I consider as extra. I know what I want, so I just work towards getting there. Some months, I try as hard as I can to save all the extra I've earned, and some times I let loose and live a little. Like everyone else has said in here, this is certainly an individual choice. |
13 August 2015, 12:08 PM | #64 |
Banned
Join Date: Apr 2010
Real Name: Jonny
Location: Boston MA
Watch: GMTII Blue/Red
Posts: 566
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Would you say that buying a Rolex is like wearing a savings account?
Say you bought one from a Trusted seller, and as long as you don't trash it, could you sell it for cash and only lose a small percentage? That's my reasoning. I bought a GMT2 in 2005 and I could sell it for what I paid for it today. Obv, you don't make money, but you enjoy it in the meanwhile. |
13 August 2015, 01:12 PM | #65 |
"TRF" Member
Join Date: Feb 2012
Real Name: Lance
Location: Nashville, TN
Watch: rolex
Posts: 1,076
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I waited to buy my first rolex until i paid my house off. If you have zero debt, its all in what you enjoy to spend on
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13 August 2015, 01:16 PM | #66 |
"TRF" Member
Join Date: Dec 2013
Location: Atlanta, GA
Watch: Rolex & AP
Posts: 777
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Nope, I only buy watches from my bonuses or any extra income. House is paid off and car is paid off, however, I practice self control and limit myself even though I'm tempted to buy all the time.
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13 August 2015, 01:20 PM | #67 |
"TRF" Member
Join Date: Feb 2013
Real Name: Louis
Location: Bay Area, CA
Watch: PP 5131R
Posts: 4,852
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The most I have spent at once is 20% of my pre-tax annual salary before bonuses and other income.
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13 August 2015, 03:24 PM | #68 |
"TRF" Member
Join Date: May 2013
Real Name: Dave
Location: USA
Watch: Rolex SS Daytona
Posts: 2,625
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Sometimes I think of how much my watch cost, and how much money that could be if it had been invested instead. I'm a natural saver, so I think that way about a lot of things.
For me, I think it's about balance. The wife and I have always tried to make prudent financial decisions, and have money invested and are working on paying the house off early. Saving in such a way that makes your net worth go up a little every month is important, but what's the point of it all if you just horde it? Sometimes enjoying the fruits of your labor will spur you on to do even better. That's the effect that getting a Rolex had on me. |
13 August 2015, 09:47 PM | #69 | |
2024 Pledge Member
Join Date: Dec 2013
Real Name: Steve
Location: Indiana
Watch: PP/AP/VC
Posts: 2,095
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Quote:
I think most of us justify our purchases with this sort of logic. I really believe that less than say $10,000 USD this seems to work (Sub, GMT, etc). But to me, when you start flirting with $20,000 and higher, your market of potential buyers shrinks and it's less liquid. You may have a watch worth $30,000 but only if someone's willing to pay you that. Sent from my iPhone using Tapatalk |
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13 August 2015, 10:33 PM | #70 |
"TRF" Member
Join Date: Mar 2012
Location: NJ
Watch: Day-Date
Posts: 4,056
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Just heard Donald Trump tell a journalist he makes more than one million dollars a day. I wonder what he wears?
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13 August 2015, 10:58 PM | #71 |
"TRF" Member
Join Date: Oct 2012
Location: Left Coast
Posts: 7,025
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A month, yes. A year, no.
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Some days it's just not worth chewing through the restraints. |
14 August 2015, 12:47 AM | #72 |
"TRF" Member
Join Date: May 2015
Location: US
Watch: BLNR
Posts: 97
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Month, maybe. Year, no. Couldn't justify it.
It's understandable that most of us would like to prioritize home mortgages, and pay it off early (sense of security, debt-free, etc.). However, depending upon when one (re)financed, the term and the interest rate (say 3% to 5% for most of us in the US in recent times), with even a little bit of financial / investment planning, it shouldn't be that hard to invest that "extra payment" money and get a better return. In short, paying off a low interest mortgage early isn't always the most prudent course of action.
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Rolex BLNR Omega Speedmaster |
14 August 2015, 03:37 AM | #73 |
"TRF" Member
Join Date: Aug 2009
Real Name: Dustin
Location: Atlanta, GA
Watch: GMT Master II
Posts: 1,976
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One months income sure, one years - probably not.
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16710, 116520, 216570, 116610LV |
14 August 2015, 04:02 AM | #74 | |
2024 Pledge Member
Join Date: Dec 2013
Real Name: Steve
Location: Indiana
Watch: PP/AP/VC
Posts: 2,095
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Quote:
Right. I have a friend who payed off his $700,000 home because he felt that the economic future was so uncertain. But all he had to do was beat the 3% or so interest rate in the market and he would be ahead. Plus, his only options should an emergency arise would be borrow against the house or sell it (but someone has to be willing to buy it). Sent from my iPhone using Tapatalk |
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15 August 2015, 11:10 AM | #75 |
"TRF" Member
Join Date: Aug 2015
Real Name: Dave
Location: USA
Watch: Rolex
Posts: 1,028
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At my present salary I could ever spend a years income primarily because I like to eat a lot,but if I ever win the lottery woohoo!!!
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