I’ve learned my lesson buying non-Rolex

[Batmannr1]

OP, losing cash is a bummer, but if you are buying that 126655 at MSRP, you will loose some money as well when reselling.

[rudestew]

Taking a hit is pants but also having something worth twice retail wrapped around your wrist has its own problems , it mental warfare

[ts3]

Originally Posted by rudestew

Taking a hit is pants but also having something worth twice retail wrapped around your wrist has its own problems , it mental warfare

Agree.

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...

[1William]

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.

[PJ S]

Originally Posted by Milibrk@

Everyone is a preacher. ...

Not really, more about being pragmatic and realistic when it comes to this hobby.
No-one bats an eyelid when it comes to selling their car or photographic equipment – it’s a given that used commodities are worth less than new ones.

[JR16]

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


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[benlee]

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.

[_speedmaster_]

Originally Posted by dnpina

A box full of Rolex may hold value better, but id be bored with it.

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+1.

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.

[nick c]

It’s funny I had Pam 005 before and I made $1100 when I sold it.

[Cryten]

Originally Posted by arcadelt

The forum, Facebook and Instagram posts will be entertaining when this current generation of "watch collectors/enthusiasts" first start losing money on their Rolex re-sales.

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.

[AK797]

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.

[Jay (Eire)]

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.)


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[asiparks]

Originally Posted by PJ S

Not really, more about being pragmatic and realistic when it comes to this hobby.
No-one bats an eyelid when it comes to selling their car or photographic equipment – it’s a given that used commodities are worth less than new ones.

^^ this^^
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....

`

[MichaelFlash]

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.

[jag32]

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.

[ajw45]

Guess OP has never bought a car, furniture, or, well anything....

[montrealwatchguy]

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.

[GB-man]

One day you’ll have bought all the staple Rolex and you’ll be forced to move on.

[_speedmaster_]

Originally Posted by GB-man

One day you’ll have bought all the staple Rolex and you’ll be forced to move on.

Until one day you’re up in the rarified atmosphere and you forgot what a Rolex even looks like.

[TJMike]

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

[GB-man]

Originally Posted by _speedmaster_

Until one day you’re up in the rarified atmosphere and you forgot what a Rolex even looks like.

Mr troop could get any Rolex in the world in 10 seconds flat.

[Oat Willy]

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

[xrole]

Originally Posted by Milibrk@

Everyone is a preacher.
OP, I understand your heartache. Losing hard earned cash is tough. You do you.

Lets face it, if being sensible with money was our foremost concern then we would all just be buying mid-range Seikos or similar. Buying luxury watches is, in the grand scheme of things, a frivolous and unecessary hobby. Same goes for many other luxury goods in life.

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.

[_speedmaster_]

Originally Posted by GB-man

Mr troop could get any Rolex in the world in 10 seconds flat.

No waitlists for him. Haha

[DamageInc.77]

Layer Cake is a hidden gem of a movie.

[jschmidtdmd]

Imagine some of the losses on AP concepts! lol

[cuibono]

Originally Posted by shaunylw

$1,200 loss on Panerai is making money. We should be saying congrats!


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lol true.

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.

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[cuibono]

Originally Posted by dnpina

A box full of Rolex may hold value better, but id be bored with it.

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This right here. Love my Omega, Cartier and Tag. Each have a good story behind them, have a distinct look and unique functionality. It feels great to mix it up.

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[Peterandwatches]

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: %*^#!

[BigAppleBill]

Originally Posted by ts3

Agree.

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...

I’ve felt the same. I have watches I used to wear without thinking about it. Now the higher values of certain pieces make me think twice about putting them on in the morning and I often opt for something of less value. I’m in NYC, so from time to time I have to stop and think about where I’ll be that day (or evening) and if I’m wearing short sleeves or long sleeves, and I may decide the risk isn’t worth wearing a certain piece.