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Old 27 February 2020, 07:15 AM   #1
sensational
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Selling house for a Rolex

Would anyone ever do this, spend ''some'' of the profits on a Daytona
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Old 27 February 2020, 07:17 AM   #2
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I mean if you have 10 houses
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Old 27 February 2020, 07:18 AM   #3
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Where the money comes from is irrelevant. If you can afford without changing your lifestyle go for it.
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Old 27 February 2020, 07:19 AM   #4
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Not me, but to each their own.

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Old 27 February 2020, 07:19 AM   #5
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I mean if you have 10 houses
only got one house, i just dont want to put all profit onto the new house.

been ages since i treat myself
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Old 27 February 2020, 07:21 AM   #6
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Not me, but to each their own.

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you're so optimistic Brian...
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Old 27 February 2020, 07:23 AM   #7
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I do dat all the time
Sell my house and buy a watch, itís the wrist truth that matters
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Old 27 February 2020, 07:24 AM   #8
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Old 27 February 2020, 07:25 AM   #9
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Would anyone ever do this, spend ''some'' of the profits on a Daytona
Why?

Serious question, please explain
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Old 27 February 2020, 07:33 AM   #10
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If you have spent many years climbing the property ladder and gradually getting larger homes that are worth more money then there will be a time, seems to be the pattern here in the UK, when you then consider downsizing and releasing money while buying a cheaper home.
Really there is no difference between buying a Daytona or buying a new car or taking a few holidays, actually out of these three things the Daytona will hold its value more.

I used to laugh and say if ever the time came and I needed to downsize then I would not have a problem with that, mind you I am still living in the first ever house I bought 35 years ago, I have not needed to move home and did not ever need a larger home, however the mortgage was paid up quite a few years ago so I am happy with my choice over the years.
Nice collection of watches, nice selection of cars and still the same house, sorted !!
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Old 27 February 2020, 07:34 AM   #11
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Would anyone ever do this, spend ''some'' of the profits on a Daytona
And live in the box?
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Old 27 February 2020, 07:35 AM   #12
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Would anyone ever do this, spend ''some'' of the profits on a Daytona
If I had a load of houses to sell...then I'd probably sell them regardless but as it stands, no.
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Old 27 February 2020, 07:35 AM   #13
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If you are downsizing for large house into a nice new condo with funds to spare, I guess?

But if in a normal situation, no don't sell a house to pay for watches lol.
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Old 27 February 2020, 07:37 AM   #14
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Rolex comes to the bottom barrel priority at least for me.
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Old 27 February 2020, 07:38 AM   #15
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Originally Posted by roviw View Post
if you have spent many years climbing the property ladder and gradually getting larger homes that are worth more money then there will be a time, seems to be the pattern here in the uk, when you then consider downsizing and releasing money while buying a cheaper home.
Really there is no difference between buying a daytona or buying a new car or taking a few holidays, actually out of these three things the daytona will hold its value more.

I used to laugh and say if ever the time came and i needed to downsize then i would not have a problem with that, mind you i am still living in the first ever house i bought 35 years ago, i have not needed to move home and did not ever need a larger home, however the mortgage was paid up quite a few years ago so i am happy with my choice over the years.
Nice collection of watches, nice selection of cars and still the same house, sorted !!


t h i s
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Old 27 February 2020, 07:39 AM   #16
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Pretty sure this as been covered before.....

https://www.rolexforums.com/showthre...light=house%5C
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Old 27 February 2020, 07:40 AM   #17
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Watch Out.....you might start a new homeless trend....
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Old 27 February 2020, 07:43 AM   #18
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Watch Out.....you might start a new homeless trend....
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Old 27 February 2020, 07:44 AM   #19
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I spent £2,000 renovating this past year

Daytona seems biggest money maker
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Old 27 February 2020, 07:46 AM   #20
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Remember, when you sell your personal homestead you must roll the profit into a new house of same or greater value within a short timeframe (a few months I believe). If you don't then you have to pay a capital gains tax. So in this scenario just don't forget the tax. Depending on your tax bracket this year it could be 10-23.5%. Of course, this is under the assumption you are in the USA.

Other than that, I don't see a problem with rolling out some profit into something else. People do it all the time for other things. Good luck!
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Old 27 February 2020, 07:47 AM   #21
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Would anyone ever do this, spend ''some'' of the profits on a Daytona
Suddenly market situation might change and your profit expectations might turn to a big loss...Unlikely in the very near future, but you never know mate..
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Old 27 February 2020, 07:52 AM   #22
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Wow that's bubble psychology. I have a sneaky feeling there were some on this forum in the '07-'08 period who were asking the mirror image of OP's question...something like "should I sell my watches and become a house flipper?"
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Old 27 February 2020, 07:54 AM   #23
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Wtf...
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Old 27 February 2020, 07:58 AM   #24
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I guess it depends on the profit made on the house.
In my neck of the woods I would have about a $400k profit
Because real estate has gone nuts. So in my case it wouldn’t be an issue.
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Old 27 February 2020, 08:06 AM   #25
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The other question is that where will you sell those such expensive watches?

Sites where PP is the prefered payment method it is very risky when you face a dishonest buyer which happens at expensive watches...

If you sell them to jewellers, you cant profit they wont pay over MSRP.They are there to profit.

Selling them on this forum might be good idea but you live outside US, then it's not an option. Even then it is still risky if the buyer is a new member...Selling online option doesnt work for a Rolex...

I still couldnt sell my like new Sub...Got offer from two jewellers and both pay 11% under my expectation...

Buying a Rolex is a big headache...Selling a Rolex is a bigger headache unless you are a jeweller...
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Old 27 February 2020, 08:07 AM   #26
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Im planning on finally getting a president/tony soprano

if i cannot get a deal on daytona
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Old 27 February 2020, 08:08 AM   #27
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If it's strictly profit? Buy whatever with it.
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Old 27 February 2020, 08:11 AM   #28
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Watch Out.....you might start a new homeless trend....
But youíll be wearing a nice watch with underpants made out of newspapers.
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Old 27 February 2020, 08:12 AM   #29
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Absolutely! who needs a house when you can bath in rolexes in a public restroom.
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Old 27 February 2020, 08:16 AM   #30
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Absolutely! who needs a house when you can bath in rolexes in a public restroom.
Makes sense to me
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