Top of market pricing - regrets, resale?

[rolex16]

None of you guys claiming you don’t care about money with respect to purchasing luxury goods ever negotiated the price on a luxury car, right? Those that claim they don’t care about $ when buying a luxury item are being disingenuous.

[rolex16]

Also, why is it that those who complain the most about these money threads consistently come in and argue with people? If you hate the topic so much, why are you in every one of these threads????

[amh]

Originally Posted by rolex16

None of you guys claiming you don’t care about money with respect to purchasing luxury goods ever negotiated the price on a luxury car, right? Those that claim they don’t care about $ when buying a luxury item are being disingenuous.

Agree. Every big-ticket item is negotiated and there is always plenty of room. I think it's just a coping mechanism. "I paid 300% of MSRP for my watch - now I'll close my eyes and ears"

[rolexpatek363]

Originally Posted by amh

Agree. Every big-ticket item is negotiated and there is always plenty of room. I think it's just a coping mechanism. "I paid 300% of MSRP for my watch - now I'll close my eyes and ears"

One doomy guy's been claiming that if he threw his collection in a river, it wouldn't affect him financially. I suppose that is actually true if he doesn't replace any.

[amh]

Originally Posted by rolexpatek363

One doomy guy's been claiming that if he threw his collection in a river, it wouldn't affect him financially. I suppose that is actually true if he doesn't replace any.

They might not be affected, but even the filthy rich aren't going to light $100k on fire just for fun.

[Mystro]

Originally Posted by rolex16

None of you guys claiming you don’t care about money with respect to purchasing luxury goods ever negotiated the price on a luxury car, right? Those that claim they don’t care about $ when buying a luxury item are being disingenuous.

Once again “context” is missing from the discussion. There’s a big difference about not carrying about price and looking back at every purchase tormenting yourself if you got the best deal. The “X factor” is timing as in when you decide to make the purchase in what the current market was. The luxury of getting that watch on your wrist without any BS right now could be reason enough to pay a premium for many. That kind of freeness with disposable money is sour grapes to those that can’t fathom being so unencumbered.
You can get a great rate for a vacation if you go the off months when the weather is bad. Timing and the luxury to facilitate your needs at that time is the take away. I can get a better rate on dinner if I go to the early bird special but I don’t wanna eat at 4:30 PM. Everyone has their own standards and compromises of what they feel is tolerable and what isn’t. There will be a cold day in hell before I play any AD games for a wristwatch. I can afford to have these standards.

Anyone buying a new Porsche 911 now will probably pay more than what they would have 3 years ago yet the waiting list are full. A luxury watch purchase is not dictated by necessity but by needs and wants.

[rolex16]

Originally Posted by Mystro

Once again “context” is missing from the discussion. There’s a big difference about not carrying about price and looking back at every purchase tormenting yourself if you got the best deal. The “X factor” is timing as in when you decide to make the purchase in what the current market was. The luxury of getting that watch on your wrist without any BS right now could be reason enough to pay a premium.
You can get a great rate for a vacation if you go the off months when the weather is bad. Timing and the luxury to facilitate your needs at that time is the take away.
Anyone buying a new Porsche 911 now will probably pay more than what they would have 3 years ago yet the waiting list are full. A luxury watch purchase is not dictated by necessity but by needs and wants.

Moving the goalposts of the argument is not the same as missing context. My points stand.

[Mystro]

Originally Posted by rolex16

Moving the goalposts of the argument is not the same as missing context. My points stand.

It certainly is about context and when you decide to make the purchase on that luxury item as every market is in a constant state of flux.
Why are you so invested in this topic of how others choose to spend their money??

[rolex16]

Originally Posted by Mystro

Why are you so invested in this topic of how others choose to spend their money??

Not sure what you mean, sorry. I believe people have a right to choose whatever they want. If they want to spend 10x MSRP, fine. I just think a blanket statement saying people making luxury purchases don’t care what they spend is absurd, and frankly, offputting.

[Mystro]

Originally Posted by rolex16

Not sure what you mean, sorry. I believe people have a right to choose whatever they want. If they want to spend 10x MSRP, fine. I just think a blanket statement saying people making luxury purchases don’t care what they spend is absurd, and frankly, offputting.

Off putting it may be but it’s a fact of life people will pay money to get ahead of the line and it’s the way of the world in luxury sales. We are not talking about a lot of money either way in such a first world purchase problem. It’s more of a Philosophy of life issue much like “don’t sweat the small stuff”.

[beshannon]

Originally Posted by rolex16

If you hate the topic so much, why are you in every one of these threads????

Originally Posted by rolex16

I believe people have a right to choose whatever they want.

[rolex16]

Originally Posted by Mystro

Off putting it may be but it’s a fact of life people will pay money to get ahead of the line and it’s the way of the world in luxury sales. We are not talking about a lot of money either way in such a first world purchase problem. It’s more of a Philosophy of life issue much like “don’t sweat the small stuff”.

I think the distinction I am making is that while I agree with you that people will pay up for better/faster, etc., that does not mean they still won’t shop for the cheapest better/faster. We can agree on that, right?

[rolex16]

Originally Posted by beshannon

Yes, I am confused that people would choose something they don’t want.

[TheWatchmen]

Originally Posted by rolex16

Not sure what you mean, sorry. I believe people have a right to choose whatever they want. If they want to spend 10x MSRP, fine. I just think a blanket statement saying people making luxury purchases don’t care what they spend is absurd, and frankly, offputting.

At some point earlier in this thread, I referenced some people who have lots of money “compared” to most others around the world not worrying too much about losing money on a luxury watch purchase, if the market declines.

I was not suggesting wealthy people are just throwing money away without abandon…of course no one like losing money. The difference is that the amount of distress caused to someone whose luxury wrist watch goes down from say 50k to 40k, but owns millions in other assets probably ain’t sweating it too much.

[brandrea]

Originally Posted by TheWatchmen

At some point earlier in this thread, I referenced some people who have lots of money “compared” to most others around the world not worrying too much about losing money on a luxury watch purchase, if the market declines.

I was not suggesting wealthy people are just throwing money away without abandon…of course no one like losing money. The difference is that the amount of distress caused to someone whose luxury wrist watch goes down from say 50k to 40k, but owns millions in other assets probably ain’t sweating it too much.

Precisely how I interpret it

[Mystro]

Originally Posted by rolex16

I think the distinction I am making is that while I agree with you that people will pay up for better/faster, etc., that does not mean they still won’t shop for the cheapest better/faster. We can agree on that, right?

Sure and if you had to pay $50k for that SS Daytona at the time and that’s what the market currently was, then that person did pay the least they could with all other factors like time and availability. To look back and say he overpaid at the next moment in time is shortsighted. Everyone said $18k was crazy for the SS Daytona until the free market dictated it wasn’t for a considerable amount of buyers. Everyone has their own personal line in the sand what they value that luxury item to be. Most long term players, including myself believe the days of full display cases and readily paying MSRP are gone for good.

[Mystro]

Originally Posted by TheWatchmen

At some point earlier in this thread, I referenced some people who have lots of money “compared” to most others around the world not worrying too much about losing money on a luxury watch purchase, if the market declines.

I was not suggesting wealthy people are just throwing money away without abandon…of course no one like losing money. The difference is that the amount of distress caused to someone whose luxury wrist watch goes down from say 50k to 40k, but owns millions in other assets probably ain’t sweating it too much.

^^^Bingo ^^^^
That is a personal “Philosophy of life” choice made within their own context of lifestyle.

I would also bet the same demographic isn’t going to sweat over every hairline scratch on their watches.

[rolex16]

Just for context around the original question, I know of people that sold their homes and are renting for a time in an effort to cash in on the hot real estate market and rebuy later. So the question was not as crazy as some might think. I personally wouldn’t want the hassle, but people consider stuff like this.

[CHRONOLEX]

All good discussion and thank you everyone. Some good points made on this page by all. I’m embarrassed to say that I had forgotten when I paid up for the Platona etc last summer it was because I too was tired of waiting for the AD and the premium was worth it to me. Just because “market” is dropping now doesn’t necessarily make these watches any more plentiful, and in fact my AD claims STILL not to have received any. So I guess if you want it, and you want it now, you have to pay asking. Which I did.

[CHRONOLEX]

I think that’s one of the good things about the human condition. Sometimes we tend to forget or minimize the negative and focus on just the positive. For me I had literally forgotten all about my 2 year search for Platona and how I was relatively happy to pay that current market price to get one. Easy to look back now and try to mark to market. But I do think it’s natural with any big purchase to look back and wonder how did I do. Too soon to say on this one, but as I said above, at least I have it whereas other people who are committed to not paying above retail still don’t and might not.

[macrowatch]

Watch? Not worried. Netflix holder? Maybe!

[David001]

Originally Posted by rolexpatek363

One doomy guy's been claiming that if he threw his collection in a river, it wouldn't affect him financially. I suppose that is actually true if he doesn't replace any.

My comment about my watches disappearing into the river was simply a point to say that if they go up or down in value it's not important to me, I'd only mourn the loss of the watches and not the money, because unlike you I don't see my watches as just $$$$

Your problem is that you're stuck with a 5712 that you've admitted that you're out of your depth on and now you can't sell it because the market has collapsed, so you stalk this forum and you're in every one of these threads obsessed with trying to convince people that prices aren't dropping.

You're like King Canute trying to hold back the tide.

[NYG1121]

Ironically, people that supposedly dont care about prices nor how much they paid for a timepiece comment most frequently on these threads!

[DK7]

Originally Posted by CHRONOLEX

I think you understand the point of my post. It wasn't an invitation to compare net worth's and ability to not GAF about losing money. I was asking a simple question, which is if you recently bought watches at a huge premium over retail and aren't wearing them, is anyone thinking about selling them?

I made a post in the Patek section about something similar. I bought a 5167A for about $50k last summer, never wore it, prices went way up and have started to come back down. Before they fell any farther, while I was still in the money, I decided to trade it for a new WG Smurf that I came across plus cash back. Good trade for me.

See, innocent topic for conversation.

Good trade if you wear the Sub more often.

But from a financial point of view a wrong decision. 5167A PP Aquanaut will develop significantly better than the Sub, your fear of a major drop in value was unfounded imo.

[CHRONOLEX]

Originally Posted by DK7

Good trade if you wear the Sub more often.

But from a financial point of view a wrong decision. 5167 PP Aquanaut will develop significantly better than the Sub, your fear of a major drop in value was unfounded imo.

Yep I wear the Sub a lot and enjoy it. Haven’t looked back. I will buy another Patek soon but a different one.

[TswaneNguni]

Originally Posted by CHRONOLEX

For those who have recently acquired pieces at peaky market pricing (not retail), are you looking at your purchase any differently?

My last few purchases since beginning 2021 :

126610LV
126610LN
126719BLRO Meteorite
278274 for my daughter
126710BLNR Oyster
1266149LB

All AD .

I wouldnt do anything differently .

[CHRONOLEX]

Originally Posted by TswaneNguni

My last few purchases since beginning 2021 :

126610LV
126610LN
126719BLRO
278274 for my daughter
126710BLNR Oyster
1266149LB

All AD .

I wouldnt do anything differently .

That’s great for you and congrats. Did you just wake up one day and start buying or did you have a big collection beforehand? I think I’ve bought about 10-15 new watches since 2021 but only a couple from AD and about half of those for family members.

[CHRONOLEX]

Originally Posted by macrowatch

Watch? Not worried. Netflix holder? Maybe!

Ha, right

[Time Out]

Originally Posted by Mystro

..... Most long term players, including myself believe the days of full display cases and readily paying MSRP are gone for good.

Famous last words.

I remember 20 years ago when people said gas would never ever ever ever get below $2.00/gallon ever again in history.. and in 2020 they did...

The chances of cases being full and discounts are the exact same as the cases being empty in the future.

Never say never... because that's when never happens.

[TswaneNguni]

Originally Posted by CHRONOLEX

Did you just wake up one day and start buying or did you have a big collection beforehand?

I woke up one day as a 12 year old and decided I liked it .
Started buying at age 31,my first one ,because that's when I could borrow money from my wife .. (true story)
After that I could afford it myself .
(Her collection is quite special too.)