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24 January 2020, 11:24 PM | #1 |
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That whole FOMO thing
So I'm in the AD last week picking up a ring that I had them make for my wifey's birthday, yes a custom piece, big bucks but she's worth it, and we (the manager and I) were chatting about this and that, and he's a Rolex enthusiast himself, and it came around to what do I want next. I'm on the list for a sub but also kind of on the list for the next GMT (coke or pepsi). Yes, I know, there is no Coke yet.
I honestly didn't care for the Pepsi originally, and despite numerous threads on the argument, it appears (to me) that they have modified the colors somewhat (I guess it depends on which of the only two women in the world who knows how to make them, made a particular one) so that the red is now darker and to my eyes, much more attractive. So I've fallen into the camp of "my next Rolex will be a BLRO". I've never had a Rolex with Jubilee, so I don't know how I'd like it. Natch if it comes in and is saved for me and I don't like it, he can easily sell it to someone else, no harm, no foul, no ruined relationship. And no, I'm not going grey. mjb does not pay a premium. But I can't help but wonder to myself, has my attraction to the Pepsi increased because you can't get one, fear of missing out, or is it something that I really want? I have seen the WG edition, and I've owned a couple of GMTs in the past, so it won't be a big surprise in that regard. Thoughts?
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24 January 2020, 11:31 PM | #2 | |
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Scarcity is a studied and followed short term tactic (one day only sale or Black Friday), and/or also a near or fully permanent long term strategy to reset the demand curve (only 5000 per year for a 7500 market). Problem is, eventually something better comes along and the higher acquisition cost can be lost. If you keep the item, no problem. If it’s bought with the hope it’ll appreciate, you could be screwed. |
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24 January 2020, 11:55 PM | #3 |
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Worry about it when you're presented the opportunity to purchase. Otherwise you're worried about FOMO, giving yourself FOFOMO instead, and that simply doesn't have the same ring to it.
Hopefully you get the call, text or smoke signal soon. |
24 January 2020, 11:55 PM | #4 | |
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By chance, is this store north of Charlotte and does the SA wear a DJ41 Wimbledon (and beard)? If so, I met him on Tuesday. Sent from my iPad using Tapatalk |
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25 January 2020, 12:13 AM | #5 | |
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I don't know what a Wimbledon is. I think he wears a president.
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25 January 2020, 12:22 AM | #6 |
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It’s almost axiomatic in watch collecting that the “proper” reason for buying a particular watch is “because you like it” and that “improper” reasons are concerns about value retention and FOMO.
Personally I find the whole notion of good and bad reasons for buying a watch ludicrous. We’re talking about watches, not a moral conundrum. I don’t see FOMO as any less valid a reason for buying a watch than because you’re an aficionado of the movement. Some people say FOMO means you’re more likely to regret a purchase and move the watch on. But watch enthusiasts are absolutely notorious for churning through lots of references on a whim anyway. It’s not like watches bought due to FOMO explains that particular phenomenon. That is without pointing out the fact that absolutely everybody is influenced by emotional, psychological and subliminal factors when making purchases. Doubly so when we’re talking luxury goods. Anybody who says “marketing doesn’t work on me” or “I’m not influenced by other people” is either deluded or a very unusual and exceptional person. So OP, chances are you have been at least slightly afflicted by FOMO and it’s all good.
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25 January 2020, 12:25 AM | #7 |
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25 January 2020, 12:36 AM | #8 | |
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mjb appreciates your feedback.
Quote:
Reminds me of a girlfriend from long ago...
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25 January 2020, 01:01 AM | #9 |
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Personally, FOMO is lost on me. I'm not a gotta have it kinda guy, just because it's the "in" thing....
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25 January 2020, 01:06 AM | #10 |
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25 January 2020, 01:09 AM | #11 | |
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As for FOMO, I think you might be onto something here. Human nature works in funny ways and I think FOMO is definitely a real thing for many (most?) people. |
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25 January 2020, 02:24 AM | #12 | |
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I am in Cary also. A few days ago I was visiting my mother in Cornelius/Lake Norman and popped into Fink’s at Birkdale and met the gent I described. I’ve been to Fink’s at Streets and North Hills a few times. I actually purchased my DJ41, BLNR, and Daytona in 2019 from an AD in SC. Good to “meet” a fellow Cary Watch Greek Sent from my iPhone using Tapatalk |
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25 January 2020, 02:36 AM | #13 | |
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This is, as usual, a richly insightful post. The book Influence by Dr. Robert Cialdini covers the various psychological influences including scarcity.
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25 January 2020, 02:47 AM | #14 |
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25 January 2020, 02:52 AM | #15 |
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25 January 2020, 02:53 AM | #16 |
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Believe I may have known her sister.
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25 January 2020, 02:55 AM | #17 |
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FOMO and YOLO are the primary reasons why so many people are in debt and unhappy with their lives
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25 January 2020, 02:58 AM | #18 |
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25 January 2020, 05:11 AM | #19 |
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DO NOT MISS OUT.
If you do not buy it now, it will cost you more in the future. The is also the issue of "inclusivity" that lives within exclusivity. So for example...people see people on TRF getting Pepsi GMT...they want to be inclusive of that "club" that has an item that is "exclusive" from others. I have a Pepsi GMT so I belong in this haute club and am way better than those who can't get it at all. It's a double ego massage for the price of one!! |
25 January 2020, 05:25 AM | #20 |
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25 January 2020, 05:30 AM | #21 |
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Doubt you're feeling POMO. Sounds more like you know what you will enjoy, and what you want. You get what you want, and no big deal if you have to wait. And if you don't want something, you don't get it.
For me, the joy is in having a great AD that knows my taste. Because then they can surprise me with things I might not be aware of. This is one of the many joys of a great dealer, and having a truly synergistic relationship.
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__________________ “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming 'Wow! What a Ride!'” -- Hunter S. Thompson Sent from my Etch A Sketch using String Theory. |
25 January 2020, 05:35 AM | #22 |
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25 January 2020, 09:56 AM | #23 | |
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I don't think FOMO is necessarily a bad thing. What's worrisome is what financially self-destructive lengths some people might go to in order to satisfy it. BTW, the true nature of FOMO depends on your region or circumstances. In Japan: DOMO In Dallas: ROMO Crooning: COMO Run out of gas: NOMO Steering your car: MOMO At the gym: BROMO Drinking coffee: JOEMO Acid blood: NOSTROMO |
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25 January 2020, 10:53 AM | #24 |
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25 January 2020, 11:31 AM | #25 |
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__________________ “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming 'Wow! What a Ride!'” -- Hunter S. Thompson Sent from my Etch A Sketch using String Theory. |
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