ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
12 June 2019, 06:52 AM | #31 |
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Like the old saying goes - if you gotta ask...
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12 June 2019, 07:04 AM | #32 |
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The thing is that Rolex is not all that expensive unless you get into precious metals and hard to find models.
The classic Submariner cost the following (depending on date or no date) In 1980 it cost $950 In 1988 it cost $1450 In 2000 it cost $3500 In 2007 it cost $4525 In 2014 it cost $7500 This doesn't seem like a huge amount of money compared to what other things cost. Look at car costs in the same time frame, and you can argue that yeah but you don't need an expensive watch and I could argue that you don't need an expensive car either but most people are driving pretty expensive cars. |
12 June 2019, 07:39 AM | #33 |
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12 June 2019, 07:47 AM | #34 |
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I guess you don’t want all your cash tied up in watches - as nice as they are.
So if you have plenty of previous savings tucked away elsewhere then go for it. If buying the watch puts you back down to zero, I would pass.
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12 June 2019, 11:59 AM | #35 |
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The way I think about it is like this - Would I wince lighting that amount of money on fire in comparison to my total liquid assets? If the answer is yes, then I can't afford it. If no, then I pull the trigger.
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12 June 2019, 12:19 PM | #36 |
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When I can buy the watch I want with the "interest" on my savings!
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12 June 2019, 12:27 PM | #37 |
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I think it’s as simple as if I’m questioning whether I can afford something, then the answer is I can’t.
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12 June 2019, 01:23 PM | #38 |
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Once I had enough cash to air condition the sun I decided to live a little and buy a few watches
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12 June 2019, 01:39 PM | #39 |
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how does one know if they can afford watches?
Can’t answer this question., 5 months of savings is different to each person. And what kinda watch.
SKX OP iWatch Casio Tudor Rolex Age. You max out your Roth first. You have no house ? < 200
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12 June 2019, 06:37 PM | #40 |
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I think a lot of the people responded here have a safety cushion of maybe 3-6 months ''savings'' but the rest might be in stocks and investments and is much more, is that right? Because once i started a similar topic and the guys there responded that they would not even think about spending more than 1 procent or so of their net worth on a watch, so my guess is that they would not splurge 300k a month on just living(savings) survival money
Survival money for me would be just the money i need to sleep, eat, shower, not walk in underwear and have enough funds to transport me from A to B for example.. A safety net of 5 months is just 5 months costs… Are you comfortable that you are just 5 months covered? Do you have a own house etc.? I don't for example, and i allready calculate like 20k in for furniture when i need to... |
12 June 2019, 07:45 PM | #41 |
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Generally speaking, if the Bailiffs come to the door and repossess ones watch, it is a good indication that one cannot afford it.
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12 June 2019, 08:54 PM | #42 |
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12 June 2019, 10:35 PM | #43 |
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12 June 2019, 10:38 PM | #44 |
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13 June 2019, 09:37 AM | #45 |
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I tend to think if you’re asking an internet group of 30-40 something dudes (yes I’m generalizing) you’ve never met if you can afford something, that’s a solid “no”
If you’re looking for validation, then justify whatever you’d like. Buy Rolex and other useless crap with only money that if you instead lit on fire, your life would not be impacted in any way. That’s how you know can “afford” a Rolex. |
13 June 2019, 10:12 AM | #46 |
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Not sure how old are you are OP, but buy a Rolex once and you have it for 50 years.. do not worry about wives or Moms.. better to do it now, while young... good luck sir
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13 June 2019, 07:10 PM | #47 |
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I don't give a toss about debt, I want a Rolex watch. As long as I can afford the 2% interest and payments and the kids don't starve, who gives a f@#k? My mate's wife is going into a hospice tomorrow, she's 58. Life's too short to worry about money.
Besides, if you find yourself on skid row, you'll always get at least half your money back. I also agree with the many who opine, that a stranger's thoughts and opinions are immaterial, be a man and decide for yourself. |
13 June 2019, 07:21 PM | #48 | |
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13 June 2019, 08:04 PM | #49 | |
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Everyone can get into problems but just be able to save yourself for a year or 2 or so and have the patience to build a solid safety net instead of a few thousands bucks.. And in the USA you should have more, much more than this. |
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13 June 2019, 08:05 PM | #50 |
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Have we checked in with the wife yet?
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13 June 2019, 08:11 PM | #51 |
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Pay cash for it and it should a small percentage of your saving, it is not an investment. You could muscle through hard time without a need to sell it.
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13 June 2019, 08:44 PM | #52 |
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I understand your point of view, Crazy Michael, but not your logic. My watch will be paid for in a year and once paid for, it will be like money in the bank.
What is the difference between putting £420 a month in a bank as savings or as a loan payment? Of course, if the world fell in, I would lose half of that payment, but then I would not have had the pleasure of wearing the Rolex. No different from paying for your family car on finance. The difference for me is, I would rather pay the 2% interest, or £100, or let's break it down further, a daily interest charge of 27 pence, for the privilege of not wasting a year saving up. Much the same principle as obtaining your chosen Rolex at a grey dealer and paying a premium for the privilege, instead of being on the waiting list. At the end if the day, I like the watch, but I'm not covetous. If the SHTF, I would sell it in a heartbeat. |
13 June 2019, 09:13 PM | #53 | |
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By the way, you and i are not from the USA so we can get along with much less safety money than the USA guys. I just feel ''relaxed'' and sort of safe when i know that i have enough money in the bank besides a quite lucrative Rolex wrist watch that i wear for pleasure and not for some kind of investment potential |
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13 June 2019, 09:31 PM | #54 |
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As I've said, the watch would in some way, be a buffer . Where have I indicated that I saw a Rolex as an investment, I've always thought, that an investment brings about some sort of profit. I'll profit from enjoying the watch, I've never said owning one would achieve a financial profit. I proposed the exact opposite, stating "you would at least get half your money back."
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13 June 2019, 09:47 PM | #55 | |
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I have had cancer and recovered, it was a leveller. I agree with all you say Phil. One life. Live it.
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13 June 2019, 10:04 PM | #56 | ||
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14 June 2019, 03:29 AM | #57 | |
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In calculating value of things in life, time is indeed often overlooked. A day lived without meaningful experience is a day wasted forever. |
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14 June 2019, 10:31 AM | #58 |
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how does one know if they can afford watches?
Say the watch you are looking for is $10K. You said 5 months savings which means you are saving $2K per month or $24K per year?
$hit buy it already. You worked hard so reward yourself. |
14 June 2019, 10:46 AM | #59 | |
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And money in savings may be a buffer but at current interest rates it should be put to better use. If you can buy the 'right' model then go for it.
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14 June 2019, 10:55 AM | #60 | |
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