GMT 1675 question - Raising prices make anyone else uncomfortable?

[swish77]

I'm more cautious, but not afraid, to wear my vintage pieces nowadays, including my 6263. Insurance is a very good idea for these valuable watches.

[tekno]

Originally Posted by swish77

I'm more cautious, but not afraid, to wear my vintage pieces nowadays, including my 6263. Insurance is a very good idea for these valuable watches.

Do you guys just have a rider on your home policy or a speciality ins policy for the collections? I actually had to file a claim once and it covered me up to 5K or so on a 8K watch. After that I got everything appraised and bought the rider.

[tekno]

Originally Posted by armypilot

My 1980 vintage 16750 has been a near daily wearer since i bought it new. It saw me through my entire military aviator career. It's been through one aircraft crash and a ton of combat missions flown and for the most part is none the worse for it. Wear yours! you will regret it if you don't.

Is that a red or blue back insert? Is it original to the watch? Very cool story/watch...

[JBZ]

As someone who's watched the prices of GMT's rise astronomically in the past few years and once passed on a 16710 for under $4k because I didn't want to pay $1,000 on top of a trade , I'd say insure it, keep it, wear it, and enjoy it.

[swish77]

Originally Posted by tekno

Do you guys just have a rider on your home policy or a speciality ins policy for the collections? I actually had to file a claim once and it covered me up to 5K or so on a 8K watch. After that I got everything appraised and bought the rider.

Rider.

[Snapper7]

I’m in a similar-ish position having bought a 1680 Sub just under five years ago. I have pretty much worn it every day since the day I bought it.
With the rising prices I looked at it as an excuse to get another Rolex and semi retire the Sub, so have bought a 16234 DJ as my new daily wearer.
Have to say, my appreciation for the Sub seems to have rocketed now as I put it on after two weeks of wearing the DJ and so it made it much more special again to wear and look at.
I have clearly got ‘used’ to having a vintage Sub on my wrist and took it for granted, but now it feels like an event.
Best of both worlds?!

[MorningTundra]

I'm wondering how much is too much to wear around everyday? Perhaps it depends on where you live, who you mix with each day and what you do with your time.

I live a pretty middle class, white collar, family oriented existence in a quiet and relatively low key town. I rarely see lux watches in the wild and no vintage Swiss lux watches.

For me the limit is about US$7K or an average 5-digit Sub, GMT or similar... If prices continue to rise I'll start wearing less valuable references day to day.

[Chope Man]

You may rather be a WIS to know the nowadays price of a SS vintage GMT.

Same for a vintage daytona or 1680, even a red one, 5512, 5513 or whatever other similar watch in SS.

Then one may wear it safely because quite anonymously.

The fact that the value increased is not known by the average. Moreover, for the owner, it is only a good thing if one day he needs money.

These were my two cents...

[whofeelitknowsit]

I bought a 1978 ref 1675 a couple years ago. I wear it everyday and don’t think about it. What’s the point of having it if you don’t wear it?

[vcnyls]

I do the same with mine. Just curious if there’s a certain point for others where the watch is just too valuable to justify wearing daily or even owning. I’m trying to figure out my own limit (at this time - I think it’s something that can and often does change).

[NimbleNavigator]

I've already stopped wearing all of my vintage Tudor and Rolex, which is about 10 pieces now. I now just sport new Tudors as my daily beaters.

[Fleetlord]

Originally Posted by vcnyls

I do the same with mine. Just curious if there’s a certain point for others where the watch is just too valuable to justify wearing daily or even owning. I’m trying to figure out my own limit (at this time - I think it’s something that can and often does change).

https://www.hqmilton.com/timepieces/...nd-papers-A856


We're getting there on vintage...

[vcnyls]

Originally Posted by Fleetlord

https://www.hqmilton.com/timepieces/...nd-papers-A856


We're getting there on vintage...

I saw that! I don’t have box and papers on mine but that’s pretty much the same case condition mine is in.

[mattedialdoc]

I read over this thread again, and maybe I’m missing something in this discussion..but naaah I don’t think I am:

Seriously, I say So what that your watch has now increased in value? Who cares. If you do, sell the damn thing for a profit and quit whining and wringing your hands in worry.

So you paid 3k, 5k, whatever a few yrs ago and now it’s “worth” 15k.....ok.....but you only put what you paid into it, right? So compare it to some other tangible item you did or could have bought in that same year for that same amount....something that didn’t appreciate. Compare it to another depreciated asset. What does it matter.

Wear the damn thing





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Instagram: @mattedialdoc

[teabags001]

Originally Posted by vcnyls

Thanks for your responses guys and yes, my wife is the best!

I’m still unsure what I will end up doing. I’m not in it as an investment and do love wearing this watch - I wear it every day - but at a certain point I don’t think I can justify keeping it. As they say, “You never own a vintage Rolex. You merely take care of it until someone richer comes along.” Maybe I’ll still keep it at $20k and just wear the hell out of it while insured. But if it hits $25 or higher I don’t know if I’d stick with it.

Here’s the watch:

Wear and enjoy and insure.


Sent from my iPhone using Tapatalk

[vcnyls]

Originally Posted by mattedialdoc

I read over this thread again, and maybe I’m missing something in this discussion..but naaah I don’t think I am:

Seriously, I say So what that your watch has now increased in value? Who cares. If you do, sell the damn thing for a profit and quit whining and wringing your hands in worry.

So you paid 3k, 5k, whatever a few yrs ago and now it’s “worth” 15k.....ok.....but you only put what you paid into it, right? So compare it to some other tangible item you did or could have bought in that same year for that same amount....something that didn’t appreciate. Compare it to another depreciated asset. What does it matter.

Wear the damn thing





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Instagram: @mattedialdoc

I honestly don't think this is a realistic attitude or one that most people take toward any other item. Yes, I only have $x into it and I got it to enjoy, but if something appreciates in value (i.e. it's not a depreciated asset) then it is natural to consider taking a profit from it. If you were a comic book collector and bought Superman #1 as a kid, and held onto it till now because you liked looking at it, but now you learn it's worth a ton of money, you would never hear someone say, "You only have 5 cents in it and you bought it to enjoy it, so read the damn thing!"

No one is whining - this is a forum where people discuss (with all due respect to everyone here) absurdly more minute details of collecting vintage, expensive watches than whether or not selling it when the price gets high enough is something worth considering.

[mattedialdoc]

Originally Posted by vcnyls

I honestly don't think this is a realistic attitude or one that most people take toward any other item. Yes, I only have $x into it and I got it to enjoy, but if something appreciates in value (i.e. it's not a depreciated asset) then it is natural to consider taking a profit from it. If you were a comic book collector and bought Superman #1 as a kid, and held onto it till now because you liked looking at it, but now you learn it's worth a ton of money, you would never hear someone say, "You only have 5 cents in it and you bought it to enjoy it, so read the damn thing!"



No one is whining - this is a forum where people discuss (with all due respect to everyone here) absurdly more minute details of collecting vintage, expensive watches than whether or not selling it when the price gets high enough is something worth considering.

I appreciate your perspective. Some valid points there. And the guys here know I love them, so nothing personal. I just have a different viewpoint. I’ve only been in Vintage Rolex a few yrs, but my pieces have apparently more than doubled in price. I do take caution in wearing my vintage watches. I use common sense and don’t beat them up. But they are watches🤠🧐


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Instagram: @mattedialdoc

[dhknola]

I think the unsaid part of the equation here, that is impolite to bring up but I will, is how much is your net worth is relative to your vintage watch value(s), in that if you have a relatively low net worth, love watches and invested in your love years ago you now see your collection as a large asset that you want to protect.

I would put forward it's a different mindset to a collector with a higher net worth that appreciates the appreciation of their watch collection, but is not daunted or stunned by it and finds it easier to wear a time piece that ten years ago was a 2-10k purchase and is now valued at 5x to 10x because they see it as both a watch they love and an asset, but if they smoosh it and it needs a total rework that decimates much of the watch's value, they are upset for obvious reasons, but not emotionally crushed the same way as someone where that watched represented a much higher proportion of their estimated overall net worth.

[strafer_kid]

Originally Posted by mattedialdoc

I appreciate your perspective. Some valid points there. And the guys here know I love them, so nothing personal. I just have a different viewpoint. I’ve only been in Vintage Rolex a few yrs, but my pieces have apparently more ham doubled in price. I do take caution in wearing my vintage watches. I use common sense and don’t beat them up. But they are watches🤠🤷🏻*♂️


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Instagram: @mattedialdoc

Same here. Am fortunate to have picked up some vintage through the years which I wear sparingly. Common sense approach is the way ahead.....no unnecessary dunking in water etc. Use the more modern for everyday.

[vcnyls]

Originally Posted by mattedialdoc

I appreciate your perspective. Some valid points there. And the guys here know I love them, so nothing personal. I just have a different viewpoint. I’ve only been in Vintage Rolex a few yrs, but my pieces have apparently more ham doubled in price. I do take caution in wearing my vintage watches. I use common sense and don’t beat them up. But they are watches🤠🤷🏻*♂️


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Instagram: @mattedialdoc

Totally fair. I appreciate yours too. :)

[roh123]

Originally Posted by dhknola

I think the unsaid part of the equation here, that is impolite to bring up but I will, is how much is your net worth is relative to your vintage watch value(s), in that if you have a relatively low net worth, love watches and invested in your love years ago you now see your collection as a large asset that you want to protect.

I would put forward it's a different mindset to a collector with a higher net worth that appreciates the appreciation of their watch collection, but is not daunted or stunned by it and finds it easier to wear a time piece that ten years ago was a 2-10k purchase and is now valued at 5x to 10x because they see it as both a watch they love and an asset, but if they smoosh it and it needs a total rework that decimates much of the watch's value, they are upset for obvious reasons, but not emotionally crushed the same way as someone where that watched represented a much higher proportion of their estimated overall net worth.

This! I recently sold my Daytona for a six figure amount as I really couldn’t justify owning it. I also didn’t want to take a hit if the bubble bursted. Even if they continue up I am still very happy with how it developed. If I were a much wealthier man I would have kept it and enjoyed it regardless of value.

[exador]

Originally Posted by roh123

I recently sold my Daytona for a six figure amount as I really couldn’t justify owning it.

Exactly. How many of us here can truly justify wearing a six figure watch on our wrists?
The alternative is to have it sitting in the safe gaining value. I'd much rather put that money into AAPL shares.

[freestone]

Originally Posted by exador

Exactly. How many of us here can truly justify wearing a six figure watch on our wrists?
The alternative is to have it sitting in the safe gaining value. I'd much rather put that money into AAPL shares.

What would you have to be worth to justify wearing a six figure watch?

Do you still think there is any future increased investment value in them given how far and quickly they gave increased in value?

[Tom1675]

Originally Posted by vcnyls

I saw that! I don’t have box and papers on mine but that’s pretty much the same case condition mine is in.

Whoa! Someone will buy it though. Guess I have to insure mine for more!

[exador]

Originally Posted by freestone

What would you have to be worth to justify wearing a six figure watch?

I'm the wrong person to ask.

Do you still think there is any future increased investment value in them given how far and quickly they gave increased in value?

I'm one of the pessimists who thinks the vintage watch market is going to peak next year. Kids however will keep on buying iPhones.