Rolex... What is the true cost of ownership?

[jeffgo888]

1). I prefer a winder as i have a few pieces. I think its a good way to keep the piece running. Of course, set it to lower TPD.
2). I have all my pieces insured as personal articles policy. Would not dare not to.
3). If you buy it new or LIKE new, with a few years left on warranty, then you should be fine.

[cpark]

Originally Posted by Verdi

I belive we have to consider 10 yrs service intervals now.

Nope, it's only 10 years for the first interval after 10 years it's recommended still every 5 years or so.


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[Lordofrolex]

I dont have insurance on my watches.

Do i really need it? What does it cover?

Does everyone on here have insurance for there watches?

[Chadridv]

Originally Posted by Lordofrolex

I dont have insurance on my watches.

Do i really need it? What does it cover?

Does everyone on here have insurance for there watches?

this all depends on you. Where you work, live, what you do, where you store your watches, where you travel, how active you are, etc.

My insurance covers my watches (and wife's jewelry) for damage, theft, loss, "mysterious loss" (whatever that is). To me it's worth the peace of mind.

[1flossedm3]

Minimal, if you buy something less than 5 years old.

[Copasetic]

Originally Posted by Chadridv

My insurance covers my watches (and wife's jewelry) for damage, theft, loss, "mysterious loss" (whatever that is). To me it's worth the peace of mind.

I agree

[MCO1]

Much less than a car collection.....Under $100 a year for insurance, winder not necessary, service every 5 to 10 years $500 or so depending if you go to RSC or Rolex certified independent.

[SALTY]

Originally Posted by Verdi

I belive we have to consider 10 yrs service intervals now.

I bought an inexpensive pressure tester. As for service, my trusty 16710, that has been with me through thick and thin, is still awaiting its first service - and it's a "W" (1995). It's got a few service stripes (well earned and worn proudly) and even has a hole in the minute hand, not kidding; but running strong, accurate and smiling back at me every time I wear it.

[allen993]

buy it...wear it...forget about it...

[Rolex fan 61]

I just wear my exp 2 24/7 and NEVER worry about the costs I just enjoy wearing the watch.

[Wingman244]

Originally Posted by Lordofrolex

I dont have insurance on my watches.

Do i really need it? What does it cover?

Does everyone on here have insurance for there watches?

Nope, I guess the cost of my Sig Sauer insurance plan might count?

Biggest cost is the additional watches you will buy. I purchased my "only" watch last Christmas... So far this year, I have also purchased an Omega Speedmaster and now was looking at a Tudor BBB but now am looking at a Sub ND or Sea Dweller. I need to stop.

[Andad]

Originally Posted by Old Expat Beast

Storage is free unless you use a bank safe. A watch winder is not necessary and insurance is optional. As others have said, service costs should be figured in, but by far the biggest cost is the addiction that leads to more watches.

x2.

[Mick P]

Chaps

This is a multinational site, so what applies in one country may not apply in another. Having said that, most world wide insurance policies are based on Scottish models, so what applies in the UK, is most likely to apply in America.

I have world wide cover on my three Rolex but there are some nasty little conditions attached to the contract.

1. I am only covered if I am am actually wearing the watch whilst outside of my home. Therefore if I am walking through some sleasy area frequented by low life and one of them mugs me whilst wearing the watch on my wrist, I am covered.

If I had put the watch in my wifes handbag in order to hide it and someone grabbed the bag and runs off, I will not be covered. Also if I leave the watch wrapped and hidden in a towel on the beach, even with my wife acting as a guard whilst I am swimming without the watch, I am not covered.

To sum up, you must be wearing your watch if outside your home.

2. If you are in your home, the cover only applies within three conditions.

a) The watch is locked up in a safe specified in the policy.

b) The watch must be either on your wrist or in the same room so as it within your sight. If you leave the watch in your kitchen whilst snoozing in your bedroom, you loose cover.

c) The watch must be specified by make, model and value.

Also it is best to take photos of the watches as well as the safe you use for storage.

If this comes as a surprise, I strongly suggest you read through your policy.

Regards

Mick

[Norms]

i would just say servicing costs every 5-7 years. but then again, I've heard of people (my father included) who's worn his rolex for 50 years without servicing and it works perfectly fine.

[Colina19]

Originally Posted by Chadridv

I spend about $125 per year on a $9k insurance policy. Full overhaul service on a modern watch will be about $500-700 and will take place anywhere from 6-15+ years. As others have mentioned, storage is free if at home or in a home safe. The bank box will cost you whatever your bank charges.

Winder is totally optional, as is everything else. I don't use one. So that's also free.

Good luck!

Originally Posted by Mick P

Chaps

This is a multinational site, so what applies in one country may not apply in another. Having said that, most world wide insurance policies are based on Scottish models, so what applies in the UK, is most likely to apply in America.

I have world wide cover on my three Rolex but there are some nasty little conditions attached to the contract.

1. I am only covered if I am am actually wearing the watch whilst outside of my home. Therefore if I am walking through some sleasy area frequented by low life and one of them mugs me whilst wearing the watch on my wrist, I am covered.

If I had put the watch in my wifes handbag in order to hide it and someone grabbed the bag and runs off, I will not be covered. Also if I leave the watch wrapped and hidden in a towel on the beach, even with my wife acting as a guard whilst I am swimming without the watch, I am not covered.

To sum up, you must be wearing your watch if outside your home.

2. If you are in your home, the cover only applies within three conditions.

a) The watch is locked up in a safe specified in the policy.

b) The watch must be either on your wrist or in the same room so as it within your sight. If you leave the watch in your kitchen whilst snoozing in your bedroom, you loose cover.

c) The watch must be specified by make, model and value.

Also it is best to take photos of the watches as well as the safe you use for storage.

If this comes as a surprise, I strongly suggest you read through your policy.

Regards

Mick

This came as I complete surprise, I have some reading to do.