do you consider your Rolex or other luxury watch as a part of your ''total''

[Etschell]

an asset is anything of value.

[tyler1980]

Originally Posted by Etschell

an asset is anything of value.

as long as you are not counting grey dealer selling prices. You won't get anywhere near that if you sell and you are inflating the value considerably.

[crazymcmichael]

Originally Posted by VicLeChic

They're absolutely part of my assets and subsequently add to the net worth in my case. I even update their market value in the secondary market on a monthly basis. If they have a market value, why shouldn't they count as assets in your balance sheet?

I agree 100% ith you and tyler.

[watchbowl]

Originally Posted by Swearengen

Maybe lower of:



Cost or,

Net Realisable Value

Accountancy 101

[crazymcmichael]

And i apologise for the chaotic conversation. But i am not called crazymcmichael for nothing ;)

[Etschell]

Originally Posted by tyler1980

as long as you are not counting grey dealer selling prices. You won't get anywhere near that if you sell and you are inflating the value considerably.

there is a difference to me between financial asset and asset in general.

[crazymcmichael]

Originally Posted by Etschell

there is a difference to me between financial asset and asset in general.

In my country, we have to pay taxes over your savings and we get only 0,05 interest in the saving account atm.. So it only cost money to ''save'' atm.. Serious

I also consider a ''net-worth''
as everything from value that a person own.. So a expensive painting on the wall, a oldtimer that keeps value well.. a house...
I don't consider anything as a net worth that is on debt offcourse

[superdog]

Originally Posted by tyler1980

i still think the residual value is an asset and part of your net wort. How much of your assets that should be in watches is of course subjective. The value should be realistic and not retail of course in 99% of cases.

If you get sued have a judgment against you for instance you can bet your life the court will count that as an asset just like cars, boats, private jets, whatever. No more a paper weight than gold bars IMO and that is most certainly an asset. Not a gold bug myself though.

OK, I suppose everything is based on perspective. And yes, sure, if someone has a judgement against me, they are going after my personal items.

However, if I am doing my retirement planning, I am not counting my cars, watches or even my house as part of my net worth. Even if they are all paid off.

If I am sitting around and trying to make myself feel good, which I do from time to time, and I count up all my assets to try and determine my net worth, I would include those items. But I think that is an absolute recipe for disaster and makes someone think they are "worth" a lot more than they truly are. That leads to overspending and potential problems. Just my opinion on that last part.

I personally think the OP had an opinion that he wanted validated. When it did not go his way, things went south...fast. I admit, I have been guilty of that myself. I do my best to avoid putting myself in that situation at this point.

Anyway, again, I suppose it is all based on perspective. I tend to be super duper conservative. To each their own. No judgment from me. I just like my way.

[GB-man]

I guess so. I always have a rough estimate in my head though I don't need a calculator.

[OldOak]

I must admit I don’t sit and work out my worth ever.
I love watches and feel that if I came into serious financial difficulty I could sell them and pull the money in, even if less than market value.
I would never put my house, business or family in jeopardy for watches.
Reading this thread from start to finish was hilarious. I’m off to buy a load tinned food and water now and put it in the safe!


Sent from my iPhone using Tapatalk

[woof]

If it makes him happy... why not. I know a lot of people who lost money in stocks/bonds investments so please don't knock this dude down.

[GSBC]

My watches can be categorized as an "asset", though it would be difficult (and tiring) to try to keep track of...so I don't. I consider them frivolous objects of desire.

[HogwldFLTR]

Yes, they have significant value therefore yes. Do I calculate my net worth, no.

I wonder what answer you'd get from the owner of the PNPN?

[air_king]

Originally Posted by crazymcmichael

I'm sorry, not my native language.

You don’t need to apologize. He owes you an apology.

[superdog]

Originally Posted by air_king

You don’t need to apologize. He owes you an apology.

Agree completely. Not cool.

[Onikage]

Try telling the people on here with collections in excess of hundreds of thousands, millions that watches aren't an asset. It's just a watch man. Who cares about value - We're WISes!

[pickettt]

Originally Posted by air_king

you don’t need to apologize. He owes you an apology.

+1

[rolexgiants]

All i know is..... if u know how much money you have, you don’t have enough. LOL.

[TimeToWatch]

Originally Posted by rolexgiants

All i know is..... if u know how much money you have, you don’t have enough. LOL.

uhhhh...what

if you don't know how much money you have, you're not managing your finances properly.

[Joearch]

Never an investment expected to increase like my real estate holdings. But would consider them an asset at a below retail value just like our art collection and other items typically considered part of net worth.

[SDRider]

Originally Posted by crazymcmichael

I know, but that is not exactly what i mean.
Offcourse the first part of buying a watch is that you need to enjoy it, secondly i won't gamble on watches that they appriciate in value... I think thats not a good thing to do, and also a stupid way to buy a wristwatch in the first place.
But do you consider your luxury watches as a ''wealth'' preservator?
So that instead of having your money(which would gain in savings)
you have a few or a lot of beautifull timepieces that you enjoy while they still keep pretty good resale-value(so if ever necesarry can sell it off.)

Man, I should try that line on my wife next time I want to buy a new Rolex. But honey, it's a wealth preservator!

[pickettt]

Originally Posted by rolexgiants

All i know is..... if u know how much money you have, you don’t have enough. LOL.

Okay, Scrooge McDuck.

[sunnyd]

Let's not confuse an asset with an investment. A watch is an asset and should be included as part of your net worth, just like the value of your cars, properties, etc. Now whether you think a watch is an appreciating asset could determine if it's an investment, but that's a topic that's been thoroughly covered on this forum.

[rolexgiants]

Originally Posted by pickettt

Okay, Scrooge McDuck.

Now I know who Scrooge McDuck is! LOL

[t e x]

Oh man, I have been gone nearly five years from the forum...

Not sure if I should say IBTL. I might pose, do you insure your watch(es)?

Nice to see familiar handles still active on TRF; looking forward to playing catch-up

[zjd168]

Originally Posted by TimeToWatch

uhhhh...what

if you don't know how much money you have, you're not managing your finances properly.

What he said was some famous money quote applied to rich people, and I think it is true :-)

[crazymcmichael]

Than you guys :cheers

You must be really rich to not calculate your money, or really old.. LOL

[AK797]

Originally Posted by t e x

Oh man, I have been gone nearly five years from the forum...

Not sure if I should say IBTL. I might pose, do you insure your watch(es)?

Nice to see familiar handles still active on TRF; looking forward to playing catch-up

Don't tell me the hype has dragged you back too.

[crazymcmichael]

Originally Posted by SDRider

Man, I should try that line on my wife next time I want to buy a new Rolex. But honey, it's a wealth preservator!

Yes why not??
Now this is another thing, sometimes i see that men are like ''forbidden'' to buy a watch from there woman i don't understand that to be honest, i mean your money your hobby right ?

[kalo925]

Originally Posted by Lemieux66

Maybe the OP should invest in an English tutor rather than watches. That was painful to read.