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Old 14 June 2019, 08:26 PM   #61
filsgreen
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Hey Dave@56. Great to hear your beaten it.
Thanks for your endorsement, Rolex Giant. As you get older, perspectives change, I probably had yours and many other members point of view, 30 years ago. Nowadays, I choose to work two days a week and consider myself very fortunate to have the choice.
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Old 15 June 2019, 08:22 AM   #62
MinMay
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how does one know if they can afford watches?

LOL if you’re older than 18 and you can’t use common sense then I have nothing to offer you.
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Old 16 June 2019, 06:18 AM   #63
andromeda160
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Depends on how smart you buy. I got laid off when I was 18 and bought a Rolex a week later and sold it a few months after that for a significant profit. Done it with other watches as well when I was in times that I shouldn’t have been playing with my money like that. Savings is one thing, but Rolexes are pretty liquid in a time of need and getting a fair price shouldn’t be a problem for a desirable model. I have a safety net if anything happens. But I could liquidate most of my assets at a profit in a pinch as well.
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Old 17 June 2019, 03:07 AM   #64
crazymcmichael
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Quote:
Originally Posted by filsgreen View Post
As I've said, the watch would in some way, be a buffer . Where have I indicated that I saw a Rolex as an investment, I've always thought, that an investment brings about some sort of profit. I'll profit from enjoying the watch, I've never said owning one would achieve a financial profit. I proposed the exact opposite, stating "you would at least get half your money back."
Cool to see that not everybody is millionair on this forum anyway
I will not use my watch as a buffer but i agree, it is a liquid asset for sure!
I need a stable buffer as i do live in my girlfriend her house and i don't own anything besides some clothes and couple of Rolexes.. So if i have not enough money in my account i can't save myself in case of emergency.. I need at least 50k for this so thats what i keep after
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Old 18 June 2019, 05:51 AM   #65
encarter13
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Originally Posted by Syed117 View Post
I tend to think of it as throw away money. If you can throw away that amount of money and not feel anything then I think it's ok.

Don't believe necessarily in saving for these kinds of items.
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Originally Posted by Kloud View Post
The way I think about it is like this - Would I wince lighting that amount of money on fire in comparison to my total liquid assets? If the answer is yes, then I can't afford it. If no, then I pull the trigger.

All of this talk about throwing money away and setting money on fire has me on edge. I do not like wasting money.

Buying a watch is not like losing or burning money. It will retain some value. I might only retain 10% of the original value, but that is still more than $0.00.
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Old 24 June 2019, 05:21 AM   #66
Xelorpepsi
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I tend to follow the 5x and 10x rules:
- If it's a cheap item / watch, I need to make at least 5x its value before pulling the trigger
- For more expensive items, I apply the 10x rule
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Old 24 June 2019, 06:13 AM   #67
MrEleven
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Originally Posted by sambb View Post
I want to spend 5 months of savings on a watch. I have no debt. What should i look at.
5 months savings or 5 months income ? If its the latter i would say no way, just recently bought a Ap that was a bad months income for me and i gave it alot of thought. No way would i be buying a watch for 5 months income.
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Old 24 June 2019, 11:34 PM   #68
s2kstephen
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How about starting with a personal budget? If you write your income/expenses and assets/liabilities, it'll speak to you.

From what I've read, the most successful people always buy in cash, and rarely spend more than 10% of their annual income on discretionary items.

You have one life to live: are you leaving a watch or a legacy?
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Old 25 June 2019, 03:58 AM   #69
gmh1013
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Originally Posted by SMD View Post
Five months sounds like too much irrespective of your lack of debt. I would bank the 5 months and start saving again for the watch. If you can get it while still maintaining that 5 month cushion and sleep at night then consider it. But no one know what kind of financial or familial obligations you have so no one can answer for you.
Yep....and look at 2nd hand vs new....
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Old 25 June 2019, 05:58 AM   #70
Mr.Rolex1
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I want to spend 5 months of savings on a watch. I have no debt. What should i look at.
Getting the seller to agree
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Old 25 June 2019, 06:27 PM   #71
Fredette
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I want to spend 5 months of savings on a watch. I have no debt. What should i look at.
What's your budget?
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Old 26 June 2019, 02:10 AM   #72
TheVTCGuy
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I can’t


But I buy them anyway
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