How much did you lose on average?

[Valedictorian]

Not particularly related to Patek...

Since I switched from quartz to mechanical watches back in the summer of 2012 (now about 5 years), I have lost about 20 percent of what I invested so far by flipping watches. Which is on average about 4 percent per year.

I calculate it as follows: amount spent on mechanical watches minus amount recuperated from selling some of them (ignoring depreciation or appreciation of the watches currently owned but also ignoring inflation or deflation of money).

Using this calculation, how much did you lose so far in percentage? Curious to know what people in general lose over a longer period of time (5+ years). Please exclude non-mechanical watches (e.g. Fitbit, Apple Watch, Casio).

Cheers
V.

[mobster600]

I wouldn't rule out Patek, they lose too

Patek and Rolex ~ 10%

and everything else ~ 10%+ even if you bought used

you can also reduce this down to models of each brand. Some models are more/less desirable. Color combos are touchy too.

At the end of the day, buy what makes you happy, its a hobby and should be fun.

[Socal to az]

Dude- don't make me think about losses in this hobby. It's the wrong thing to be investing your time in if you are going to track your money lost. Buy a watch and enjoy it. If you don't lose your ass, bonus. But I only put money I can afford to piss away into this endeavor.

[GB-man]

Originally Posted by Socal to az

Dude- don't make me think about losses in this hobby. It's the wrong thing to be investing your time in if you are going to track your money lost. Buy a watch and enjoy it. If you don't lose your ass, bonus. But I only put money I can afford to piss away into this endeavor.

Damn straight! 10% lol that's a treat if only lose that on a flip

[ap1]

At least 20 on average and as I like to measure pain, I have a spreadsheet for proof. One of these days I'll stop tracking it but it keeps me honest at least.

[topcat30093]

Please lets not start on this!

Probably lost enough money to have bought a 2nd house

[Tony64]

They said there would be no math ...

[cinch]

Originally Posted by topcat30093

Please lets not start on this!

Probably lost enough money to have bought a 2nd house

But you can't put a price on the enjoyment of it all!

[topcat30093]

^^^^^
That is sooo true

[AK797]

Originally Posted by cinch

But you can't put a price on the enjoyment of it all!

Alas, Patek and Rolex can.

Buy smart and not on impulse and not with a view to already selling, and you should be fine.

[topcat30093]

Originally Posted by AK797

Alas, Patek and Rolex can.

Buy smart and not on impulse and not with a view to already selling, and you should be fine.

Words of wisdom, Neil
Sadly I went in the opposite direction

[cinch]

Originally Posted by topcat30093

Words of wisdom, Neil
Sadly I went in the opposite direction

By the way if you can go for the 5712 over the 11, you won't regret it

[KarlS]

I think I buy watches to enjoy and any loss is the price of enjoyment. In 2017 I made money in 5167 and 5711A. I broke even in 5205R-010.In 2006 I made money on FPJ CB and lost 10% on 116655 and 5130G. I don't think I can even sell the 5146G001 without being creamed 20%....

[AK797]

I think we are all very privileged to be buying these wonderful timepieces and as Karl says any loss we take is the price of enjoyment and should be. In the UK we are seeing so much bad news at the moment and people really suffering that I almost don't want to have my cake and eat it too, as it were, I'm happy to take a little loss and not always have a free lunch.

[BNA/LION]

Zero... I have never resold a watch.

[topcat30093]

Originally Posted by KarlS

I think I buy watches to enjoy and any loss is the price of enjoyment. In 2017 I made money in 5167 and 5711A. I broke even in 5205R-010.In 2006 I made money on FPJ CB and lost 10% on 116655 and 5130G. I don't think I can even sell the 5146G001 without being creamed 20%....

Thanks Karl, indeed they make for interesting reading.

Originally Posted by AK797

I think we are all very privileged to be buying these wonderful timepieces and as Karl says any loss we take is the price of enjoyment and should be. In the UK we are seeing so much bad news at the moment and people really suffering that I almost don't want to have my cake and eat it too, as it were, I'm happy to take a little loss and not always have a free lunch.

Neil, I am fully with you, sometimes, I don't want to see the news for fear of more bad stories!

Hindsight is a marvellous thing, 40 years ago would I have followed the same path..................

I would have just gone straight for a Patek

[lapince]

I think I lost 6k on 8 watches, 4 Rolex, 3 Pams, 1 Blancpain. The Blancpain is the only one I made a little money on, 1000 USD, was like new, and got it for 9, sold for 10, retail was 20.400 euros. Lost around 500 on SS Rolexes, 2000 on the RG 116515, got it for 17.5 when retail was 23.4, and sold it for 15.5, sold 2 Pams for the price I got them, but on one, the LE 028, got it for 7.2 and sold for 5 not long ago as I was tired of it being on sale for 1,5 years, a guy wanted it for 5, I said yes. Now on all my watches except one, the PP 5167R, I should sell for what I paid, or for a profit, the only one which financially should be bad if I needed to sell, is the Voutilainen I am waiting for, all others are good money wise. Anyways watches are not investments in 99.99%, but a few can bring money, but better not to look at them that way, I feel fortunate enough to have 4 very in demand pieces, 5711/5712, blue AP 15300 and ceramic diver, love them all and didn't get them in the intent of resale, but if ever I did need money for some project it is nice to know I won't loose money on them, most likely make money, but if having only good investment watches was my purpose, I would not have gotten the 5167R, and in no way a Voutilainen unique piece, maybe in 5-10 years it will gain a nice sum if his prixes continue to grow, but in case of resale I would probably take a real bath, but resale is not an option, would rather sell a property than this one

[Gaijin]

I've lost a lot. Thousands and thousands I guess over the years.



No regrets. I love this hobby and the joy I feel during a new acquisition is pretty nice.


It's expensive hobby but I certainly enjoy it.

[yoast]

I'm currently in the plus, and I do flip lots. (just the right pieces)

[locutus49]

There are some things you don't want to know and this is one of them. It is the cost of living large.

[kilyung]

Excluding watchmaking tools and supplies, I'm ahead in this hobby but I don't flip much.

[Swearengen]

I have spend £££K on watches, women and booze.

The rest I squandered

[brandrea]

I've lost a little, but relative to other Hobbies (golf for example) not nearly as much.

[Xerxes77]

Originally Posted by Gaijin

I've lost a lot. Thousands and thousands I guess over the years.



No regrets. I love this hobby and the joy I feel during a new acquisition is pretty nice.


It's expensive hobby but I certainly enjoy it.

Me too!!!!
And my champion brand to loose money are..........AP!!!

[thomaspp]

a few weeks on the wrist does not have a price

[AK797]

Originally Posted by Swearengen

I have spend £££K on watches, women and booze.

The rest I squandered

George was the Best.

[sirish19]

I have lost quite a bit but only because I sold off all of the undesirable watches that I bought before really getting into the hobby. I haven't sold a single watch that I have bought in the last 5 years and now only buy watches that I feel that I will never want to sell. We'll see how long I can stick with that policy.


Sent from my iPhone using Tapatalk

[Maltie]

I keep track in my inventory program, exactly 2,59% over the past 5 years....there are hobbies that are far more expensive

[MCO1]

I don't have a number but not as much as I have lost buying, selling and maintaining cars.

[Calatrava r]

Try to keep watches at least 5 years. That way the lose is amortized over a more reasonable period. Watches seem to hit bottom right out the door so you got to keep them awhile. 20 percent from a great deal to purchase is about right. From list you are looking way more in most cases.