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14 July 2013, 01:35 AM | #1 |
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Should I sell my collection or hold on to it?
Hi folks,
Here is my collection of Rolex watches: 16610 SUB*****(X-series) 16600 SD******(D-series) 16600 SD******(D-series) 116710 GMT2C**(V-series) 116660 DSSD***(V-series) 16613 BLUE Sub*(F-series) I am estimating that my collection is currently worth $35K. Now here is my dilemma: I am sort of reaching that stage of "been there, done that" as far as watches are concerned. So if I sell my collection, I can safely assume to get $35K back into my pocket. But here is my 2nd problem: I do not need the $$. There is nothing I wanna buy, nothing. I can deposit it in my bank and it will just sit there. I am getting tired of watches ... the whole last month, I have been going to work without wearing a watch ---something I have never done in my life. I don't remember a day I left my home without putting a watch on. I am finding plenty of places where I can get the time and thinking why do I need a watch.... I have been a watchbuff since I can remember. I remember when I was 10, I would cut out a watch's picture from a magazine and using scotch tape, tape it to my wrist and walk around all day and sometimes even sleep with this "paper" watch on my arm... Now I am in my early 40s and this watch thing seems to be fading ... I just don't feel that interested in watches ... I think my 2 g-shocks are good enough for me... The solution I am leaning towards is to keeping the collection. Why? Well the money is already spent and these are all Rolexes, many are very desired. So the price of my collection is only creeping upwards slowly ... So lets say 10ys from now, my collection will most likely be worth lets say $40K ....but then again, I don't wanna cash out ...maybe keep the collection for my kids so they can cash out once I am gone? Maybe just sit on it? The watch craze might return back to me? So what would you do in this case? Thanks, |
14 July 2013, 01:40 AM | #2 |
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I wouldn't be super analytical about it. Keep what you love and move the rest. It's just stuff.
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14 July 2013, 01:41 AM | #3 |
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If your watch collection creeps up $5K in 10 years, how much money will you spend on servicing over that period of time? If the money is sitting in your bank account, what kind of interest could you possibly earn on it? You're probably better off setting them in a safe and winding them every once in a while, and see if the passion comes back in a year or two.
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14 July 2013, 01:47 AM | #4 |
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Save them for your kids and grand kids. No doubt.
Cheers! |
14 July 2013, 01:50 AM | #5 |
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Sell them if you already lost your interest on them. You can always get them back or buy other brand names when you feel happy to do so. At the end, watch is a watch, it should make you happy everyone when you put it on :-). Good luck with your decision.
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14 July 2013, 01:57 AM | #6 | |
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Quote:
at least the monetary value will definitely go higher ... |
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14 July 2013, 02:00 AM | #7 | |
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Quote:
What a great image! As for your dilemma, if you keep the collection it may, as you suggest, increase in value. Also, it will still be there if you change your mind and go back to having an interest in watches. |
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14 July 2013, 02:01 AM | #8 |
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How about selling them and buying 1 special piece? Perhaps a Patek Nautilus, or gold Sub since you like divers.
If not I would just store collection in a safe an postpone decision. |
14 July 2013, 02:02 AM | #9 |
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Keep the 1 or 2 you like best, and sell the rest. I am also in my 40s and have been contemplating a nice new watch, but I have the fear that after a year or two the novelty will wear off and it just won't be a big deal, which seems to be where you are now. 5-10k for a watch is a ton of money, when a lot of sub $500 watches do the job of telling time just as well.
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14 July 2013, 02:05 AM | #10 |
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14 July 2013, 02:12 AM | #11 |
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Given the way you are feeling, I'd say sell them but keep one for if and when the time comes that you want to throw something special on for a night out.
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14 July 2013, 02:19 AM | #12 | |
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Quote:
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14 July 2013, 02:20 AM | #13 |
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Sell them all and move on.
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14 July 2013, 02:24 AM | #14 |
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Sell them all and get a big piece IMO like a precious metal big three (VC, AP, PP).
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14 July 2013, 02:27 AM | #15 |
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14 July 2013, 02:28 AM | #16 |
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If you bought new with your name on the papers keep them if you can. If they are pre-owned, maybe sell half?
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14 July 2013, 02:33 AM | #17 |
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Sell them all and get a single nice piece (Rolex or PP) and invest the rest.
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14 July 2013, 02:34 AM | #18 |
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Here is what I would do:
Sell the current collection, then buy a Double Red Sea Dweller or Red Sub... If you have expendable cash then for god's sakes man, why not own a vintage icon... If after this exercise you decide you are done with watches, selling one nice vintage Rolex should be relatively easy...
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14 July 2013, 02:35 AM | #19 |
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I predict your disinterest won't last forever...
However, I see no point in having a whole bunch of watches that you don't enjoy let alone wear. If you feel that strongly I would recommend keeping one of the Subs or SDs and sell the others. You will almost certainly have occasions where you wish you had one to wear. Either of those is perfect for a one watch "collection". Cheers |
14 July 2013, 02:43 AM | #20 |
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based on what you've said - sell 'em.
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14 July 2013, 02:48 AM | #21 |
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Keep them, there are worse places to park your money, besides you've been an inspiration to us Sub crazy guys, you can't bail now, lol
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14 July 2013, 02:52 AM | #22 |
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Sell them and within a year you'll be taking sneaky looks in the watch shop windows as your interest returns.
Seriously though, it's a good position to be in, win/win either way. Good luck with your decision |
14 July 2013, 02:54 AM | #23 |
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Keep them in a closed box and leave it for a while (week, month. ..)
Get back to see if you are still not attached then sell the collection except one, usually it would be first one. I've been through the same, and that's what I did. The first is with my wife now and the rest is consolidated in a sub. However this is just me an my humble opinion. Do what makes you feel fine.
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14 July 2013, 02:55 AM | #24 |
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Speaking from experience, I sold a SS/PLT YM and GMTIIC and regret selling both, especially the GMTIIC. Big time.
If you regret selling any or all you can't buy them back at the prices you paid. I would think it through very, very carefully and if it were me, I would strike a compromise and sell all but the two you love the most. I will say it again, the GMTIIC is a winner. Best of luck with your decision. |
14 July 2013, 02:59 AM | #25 |
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Here's a thought . . . . . . Maybe just give one away . . . . . . Maybe to the person making the 26th post on this thread.
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14 July 2013, 03:01 AM | #26 |
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sell them. as we've seen in the past few years, there's an initial pop in last gen rolex prices based on spec and then prices come back down once the newer models gain broader acceptance and folks give their heads a shake when they realize there millions of rolexes in the used market. get a grail piece to stay in the club if its a investment grade watch you're after but as an investment, there's better out there. from home renos, classic cars to real estate etc... you also get to drive a classic car, live in your updated home and drive by a rental house to collect your rent checks.
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14 July 2013, 03:05 AM | #27 |
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Three choices:
1. Keep 'em 2. Sell them all and fund a vintage piece (extra in bank) 3. Sell them all and fund a BNIB precious metal Rolex (extra in bank) I'd go option 3 - but that's just me. YG GMT IIc, or WG Sub, or RG Daytona. |
14 July 2013, 03:06 AM | #28 |
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All your watches seem pretty similar (sub, SD, GMT, etc). Maybe keep one or two with the most sentimental value and cash the others in for a more unique piece from AP, PP, ALS, etc.
The money is already spent and you said you don't need it. Might as well enjoy it on one very special piece. |
14 July 2013, 03:08 AM | #29 |
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14 July 2013, 03:09 AM | #30 |
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I agree with many others, sell them all and go find one special piece that really sings to you to jump start your love of watches. Best of luck!
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