Any thoughts on handing down a Rolex watch or collection?

[t65tampa]

I have two sons. I’ve got a watch picked out for each of them that they’ll get for graduation from law school and medical school. I bought those watches with them when they were younger and the watches each have meaning for them.




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[SeikoBake]

Based on your post I’d say the Rolex would be better off sold and invested in college funds

[aczaja10]

Originally Posted by Waxtactic

I don't have any experience with grandchildren, but I have an idea if your main goal is to leave something for them. If you have frequent contact with the 8 year olds, there is still plenty of time to show them your watches, have them help you put them on, fold the clasp etc. This helps to create tactile memories of their interaction with you and the watch which they will remember. As time passes and they continue to help you, you could say "well, this one is the Johnny watch as some day it'll go to you".

I do this regularly with my 8 and 6 year old and each time they see me wearing it they shout out "It's the Janie watch" or "he's got the Bobby watch on!"

Just a thought - but if it is a lost cause and they show no interest then I would say the best legacy you could leave them is the 529 plan. Good luck.

I like this post. I do the same with my kids. They help me wash my watches and put them away on the winder. Each one knows the 2 watches they are getting (hopefully more as I continue to obsess) and why they are getting those watches. It's a fun connection. My kids know I am on this forum every night before I go to bed.

[SkyJuice]

Originally Posted by cooper33

didn't go through this, but unless i knew that my kids would appreciate owning a watch that belonged to me, they would be better of with having money to spend towards education, a house etc.

+1

[jimcameron]

Originally Posted by jlovda

Makes me wonder if I should eventually just sell my watches and put the money into college trust funds.Thanks

I say that is your best, and very thoughtful, option.

[Wahlberg]

I received my fathers datejust a couple of years ago. I would never ever sell it and I'm glad to have something that belonged to him (he's still alive fyi).

You can inherit anything in the end, but something that's been on the wrist a big part of his life, which traveled to every country in the world is something I really wanted to have. I've been there with him when he wore it. The same goes for things belonging to my mother. I don't want to lose that connection, I need something to hold onto, that link.

[lucid]

The age factor of your grandkids is 1, the fact that your daughter pawns everything is 2
so i guess you are left with the best possible solution, sell the watch and put it into college trust fund for the kids. in my opinion.

[sirish19]

I have several nice watches that will eventually go down to my son. He is 17 and has already inherited my Tag Chronograph and Corum Admiral’s Cup and seems to really appreciate the watches. He is now old enough to see how much I love the watches and I take him in with me when we look at the Rolex or Patek boutiques.

I bought him a birth year Speedmaster that I will give him when he graduates HS and will see how he does with that. If he passes the test, I will give him my GMT Master II (which is also his birth year watch).

My daughter will get my wife’s Rolex, her jewelry and bags, so don’t worry about her, haha.


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[ROlesorusLEX]

I bought watches with the intent of my kids getting them one day, if they're interested. Girl gets mommy's YG DD, boy gets the DJ or TT sub. But I'm still holding out hope they won't keep growing up. I'd give my watches away for free if that was possible.

[Robtayham]

Originally Posted by Wahlberg

I received my fathers datejust a couple of years ago. I would never ever sell it and I'm glad to have something that belonged to him (he's still alive fyi).

You can inherit anything in the end, but something that's been on the wrist a big part of his life, which traveled to every country in the world is something I really wanted to have. I've been there with him when he wore it. The same goes for things belonging to my mother. I don't want to lose that connection, I need something to hold onto, that link.

Agreed++++

This is why it doesn’t usually matter if the child is a watch person. The watch is a reminder of the person they care about. So, while they may never wear it, they will keep it forever.

I do agree that the recipient has to be mature, responsible enough to do the right thing. The timing of the gift is important, each person is different.

[HogwldFLTR]

Interesting question; sorry for the late tie in. Being in my 60s, my mortality is something that is apparent to me now. I've sort of tested the waters with both my kids by buying them watches which neither of them showed much interest in. Now they weren't Rolex and they weren't mine however so maybe that would change their response to ownership. Frankly I worry about casting pearls before swine. My response has been to liquidate my collection and keep a few watches only. Frankly I doubt I'll care too much when the time comes to pass down my remaining watches!!!

[Rosie39j]

I’ve enjoyed having some Tudors and giving my sons their choice of Tudors as they go off to college. They can buy their own Rolex someday, something to aspire to. Or have mine once I’m in the ground.

[Jim]

I would hope that my son would cherish them as I have done and keep for sentimental value to be passed for the next generations. However if he chose to sell i wouldnt loose any sleep over it! I look at my collection it as a way of passing on a small amount of wealth after my death that will escape inheritance tax.

[brandrea]

its an interesting questions, and most likely the response you’ll get are as unique as the families are.

In my case, my son loves watches so I know he will appreciate them.

[vesnyder]

Timely thread. I've had a DJ for 35+ years. My son is 25 and I just purchased my second Rolex. I bought my DJ when I was 25 years old just out of college. I am passing my DJ onto my son this weekend while he is in town. He is the same age I was when I purchased mine and old enough to appreciate it. I am positioning it as "I am letting you wear it" just in case I change my mind or he decides not to wear it anymore I will take it back. I am assuming I will never own it again but just in case.

I gifted him a Tag Heuer when he graduated from HS and that started his appreciation for watches.

[paltak]

I gifted my son a nice Seiko last year when he turned 20 and loved it; wore it everyday. This year I gave him a NOS Exp1 for his 21st and while he Ioves it he's afraid to wear it while in college but promises to wear on special occasions until he finishes.

The following month I felt kind of bad when my daughter turned 17 so I gave her my SD. She loves it and wore it for an hour or so and asked dad to keep it in the safe until she's older. She'll continue to wear the cheap watch she received when she graduated 8th grade.

I suggest get them cheaper watches for now and go from there.

[MichaelDurr]

What and interesting topic here, my dad passed away recently, he had watches over the time but only kept one, he passed it down to me, not a rollie ( a Longines 1950's white gold 14K) pretty sweet but more dressy. I would like to pass it down to my son when he will be older (he's 10) ... If you feel that your watches will not be appreciated as you liked them, sell them and leave money behind you..