ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
21 August 2019, 06:11 PM | #31 |
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OP, losing cash is a bummer, but if you are buying that 126655 at MSRP, you will loose some money as well when reselling.
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21 August 2019, 06:20 PM | #32 |
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Taking a hit is pants but also having something worth twice retail wrapped around your wrist has its own problems , it mental warfare
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21 August 2019, 08:18 PM | #33 | |
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Quote:
I ordered a Patek 5711 years ago at the AD to replace an IWC Mark XV as my daily. As we speak its market value has risen beyond what I feel comfortable wearing in any situation w/o worrying. As I don't plan on ever selling the current market value shouldn't matter but in the back of my mind it still does... |
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21 August 2019, 09:17 PM | #34 |
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I don't think that there is anything wrong with focusing on Rolex or any other brand that does it for you. Many individuals who have gotten into watches of late have the mantra that they are an investment and want to use the watch and then get the money back out or make money. Nothing wrong with that either. I have been involved with buying, selling and flipping watches for almost thirty years and have a lot of experience with many brands and we are living in a special time. At no point in the watch world have we been in this situation with availability/price/demand. It will change, just like everything does, and we will go back to watches in display cases and negotiated discounts on regular inventory from AD's. You will lose money on your Rolexes or PP watches when you sell and life will still be good. If your watch collecting is about money and not passion for the watches then this will not be a long term hobby for you as it costs money to play and you will typically pay for the pleasure of playing. Enjoy your watches, learn about the brands and have fun.
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21 August 2019, 09:30 PM | #35 |
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21 August 2019, 10:17 PM | #36 |
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The first time I sold a watch,
I cringed at the $ lost. Now it’s just part of the hobby for me. Otherwise I don’t think I would get to experience other brands and grow as an enthusiast Sent from my iPhone using Tapatalk Pro |
21 August 2019, 10:20 PM | #37 |
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If one just collect Rolex, and so concern about value retention, then this hobby is going to be boring. I have timepieces that are "investment grade" and also those that I just buy because I like the look. If I get bored and sell it, I don't see that as "loose money" because I consider them as expenses in the first place and then it's additional "income" when I sell them, to add to my watch fund. My "investment" is already repaid in the joy of wearing them.
When is this not the case? Occasionally, I may impulse buy, regret the purchase and then sell it off quickly, so this I see them as a lost. Or if a watch cost a lot to buy, then I may want the assurance that it's not going to be commercially worthless when I walk out the door.
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21 August 2019, 10:32 PM | #38 | |
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Quote:
This is a hobby, not a retirement portfolio. Buy what you like and don't let resale dictate and confine you into a little Rolex box.
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21 August 2019, 10:38 PM | #39 |
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It’s funny I had Pam 005 before and I made $1100 when I sold it.
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21 August 2019, 11:37 PM | #40 |
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I agree. When the bubble bursts it's going to be bad as all these "watch collectors" (ie. Commodity traders) flood the market desperately trying to get their money out.
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22 August 2019, 12:44 AM | #41 |
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I understand where you're coming from, I think you have to experiment and try different brands, and in the old pre-hype days everything lost money so you didn't feel too bad taking a loss on a piece, it was the norm, and so I'm glad I experimented 7-10 years ago; if you were to do the same now it would be pretty crushing to take so many losses when many Rolexes, APs and PPs hold value or much better. I suggest now just going to an AD or grey 3/4 times and keep trying on the watch to really get a feel of if this might be a keeper.
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22 August 2019, 01:36 AM | #42 |
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If you think that Yacht Master will hold its value in the long run you are delusional. I don’t mean to cause offense but there is no other way to frame it.
It’s a nice watch, and by all means consolidate and go for it. But don’t think it’s a “trade” or “value” play. That watch is NOT collectible. (The OP is of course within his rights to think this way and act accordingly. To me this expectation of holding value or even increasing value is what is fueling the crazy demand and flipping we’ve seen the last few years. Buying only because of the perceived safety of future value.) Sent from my iPhone using Tapatalk |
22 August 2019, 03:17 AM | #43 | |
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Quote:
There's a utility cost to owning most things, and you balance that against the satisfaction and enjoyment of owning said item. Now I don't like throwing money away, so my collection of 16 "luxury" watches, IWC, Blancpain, Panerai, Omega, GS etc... I bought used, as I did my 1 Rolex. That somewhat minimizes the loss, but I know as the popularity of certain brands ebb and flows, I will inevitably lose money, but the enjoyment of ownership more than makes up for it. A nice dinner for two with average wine can easily top $200, and that money is gone- gone. $1200 for years of enjoying your Panerai in that context doesn't seem all that bad.... `
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22 August 2019, 05:33 AM | #44 |
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A speculator purchases based on assumed resale value. A collector purchases based on passion and enjoyment. There is a difference. I have only 2 Rolex in my staple: a Datejust 2 tone 36 and a Cellini my wife gave me for our Anniversary in 2001. At one time my collection included: Hulk, Submariner date, Submariner no date, 2 Tone Submariner, Datejust II and GMT Yellow Gold. (I believe I posted a screenshot here a couple of years ago). What happened? Boredom set in. I also got tired of going to Court and seeing every 20 something year old sporting a Rolex. DULL. A collector collects what he or she loves because it brings us joy. So your lesson is buy only Rolex if all you care about is $$$ and buy whatever you want if all you care about is collecting watches.
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22 August 2019, 07:59 AM | #45 |
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I sold all my Rolexes and stopped buying them because they’re pedestrian and boring to me. Every Rolex is the same, and every used car salesman has a sub or some other staple Rolex one nowadays. No thanks.
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22 August 2019, 08:21 AM | #46 |
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Guess OP has never bought a car, furniture, or, well anything....
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22 August 2019, 08:22 AM | #47 |
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OP I think you're looking at this from a very greedy POV purchasing pieces based on how much you'll loose when it's time to sell is not a good way to go about what is supposed to be considered a "hobby", although you are not wrong Rolex does hold their value fairly well but that's because of the market and not much else, which is inevitably due to change.
Can't go wrong with dumping your money into gold though. Just my two cents. |
22 August 2019, 10:06 AM | #48 |
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One day you’ll have bought all the staple Rolex and you’ll be forced to move on.
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22 August 2019, 10:17 AM | #49 |
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Until one day you’re up in the rarified atmosphere and you forgot what a Rolex even looks like.
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22 August 2019, 12:26 PM | #50 |
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Never eat out, never fly, never stay at a hotel, never travel, never buy a computer, never buy a phone etc etc. All money losers. I know when I want to buy a watch the only thing I care about is whether it holds its value
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22 August 2019, 12:39 PM | #51 | |
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Quote:
Mr troop could get any Rolex in the world in 10 seconds flat.
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22 August 2019, 12:41 PM | #52 |
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Just never buy brand new at full retail. Buy used at a good used price, that way if you sell you won't lose $$. Only buying Rolex is a dumb way to mitigate the possibility of losing $ should you decide to sell. The only reason to only buy Rolex is if you genuinely love the brand so much that you don't want to own anything else
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22 August 2019, 01:15 PM | #53 | |
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Quote:
We buy them because whether consciously or unconsciously (in addition to any horological interest) we like nice things and want to have some measurement of our success. Buying a Rolex means you can minimize your loss if/when flipping watches, sometimes even earn a profit if you are lucky, but it's no guarantee that you won't lose anything. |
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22 August 2019, 07:47 PM | #54 |
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No waitlists for him. Haha
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22 August 2019, 09:26 PM | #55 |
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Layer Cake is a hidden gem of a movie.
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22 August 2019, 10:29 PM | #56 |
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Imagine some of the losses on AP concepts! lol
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23 August 2019, 02:53 AM | #57 | |
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Quote:
To OP, how long did you have the Panerai for? 2 years? Cost of ownership per day was a bad cup of coffee ($1.65). Hope you got at least that in enjoyment. Sent from my SM-G965W using Tapatalk |
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23 August 2019, 02:56 AM | #58 | |
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Sent from my SM-G965W using Tapatalk |
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23 August 2019, 03:28 AM | #59 |
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Date of purchase: The fit and finish was really impressive. You have to see it in person and try it on to really appreciate it. Plus it’s nice to have something a bit different.
Date of sale: %*^#! |
23 August 2019, 03:46 AM | #60 | |
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Quote:
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