I’ve learned my lesson buying non-Rolex

[Sub*Man]

Hi TRF Family -

I’m selling off non-Rolexes to fund a 126655 and I have learned my lesson buying, then selling, brands that aren’t Rolex. I took a bath on a Chopard that I bought after too much fun at the casino in Aruba. Looking back, this was a mistake, but I thought I loved the watch and I’ll never sell it... I took a bath on that one..

Then, a Pam 005. Beautiful watch and definitely scratched an itch. Again, a purchase I said I would never sell. Famous last words.. Even with the price increase, I’ll lose around $1.2k when I do the deal this week.

My takeaway here is, never say never when it comes to selling and always think about resale value when making a purchase. Then, only purchase Rolex. I know AP and PP hold and increase in value, just like a few RM’s. But for me, I’ve never lost on a Rolex, and I have learned my lesson.

Thanks for listening.

[Etschell]

Doesnt sound that bad. 1.2k on a panerai is nothing.

[Dan Pierce]

Much prefer the sheer enjoyment of the timepiece itself.
dP

[Sub*Man]

That’s what I said before I went to sell

[denmanproject]

I love my Rolexes but there are a lot of other great brands out there, just buy right and you’ll be fine

My recent non Rolex purchase

[amilch]

I know people who have lost 13-15ks on a rolex. No matter the amount loosing is awful. good luck

[kieselguhr]

Thanks for sharing your story. I am sure you mean well. However I do buy my watches knowing full well that the day may come where watches become irrelevant and the only value that they hold will be sentimental.


AOW

[shaunylw]

Originally Posted by Etschell

Doesnt sound that bad. 1.2k on a panerai is nothing.

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


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[Centron]

Agreed. Did the same thing. Sold all what I had at a substantial loss and bought my 126600. I have one killer hallmark watch now...Sea Dweller, and am smitten. Gurus preach “buy what you love,” but when the loving feeling ain’t there anymore your going to loose your shorts just like a real divorce, price of playing the game.
Fortunately, my SD43 rocks my world and will most likely always hold or increase in value, feel secure with that.
I dig a few other watch brands immensely but won’t buy them new. I’m only going for AD Rolex now and foreseeable future. Waiting for my Pepsi from my AD.

[Grandcrew]

A more calculated approach in acquisition and liquidation seems to be in order if you’re priority is value retention and appreciation. If that’s the case, I’m not entirely sure you’re on the right path. I hope you find the sweet spot.

[dnpina]

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

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[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.

[Sub*Man]

Originally Posted by Dan Pierce

Much prefer the sheer enjoyment of the timepiece itself.
dP

Originally Posted by shaunylw

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


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Hahah! Thanks. This made me smile.

[Nikrnic]

I only buy to wear and enjoy and never for investing in a watch. Not saying that's your attitude (to buy for investment) seems like you just got tired and realized some brands dont hold their value that well. I'm sure many, myself included tanked on one or a few. I felt I needed an Omega, bought new but thankfully not at an AD, never wore it and I'll still lose a grand so I see your point. Buy a Rolex, the one you love, best as you can and enjoy it. You can't lose, even if you sell it and lose a little.

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[Sub*Man]

Originally Posted by Nikrnic

I only buy to wear and enjoy and never for investing in a watch. Not saying that's your attitude (to buy for investment) seems like you just got tired and realized some brands dont hold their value that well. I'm sure many, myself included tanked on one or a few. I felt I needed an Omega, bought new but thankfully not at an AD, never wore it and I'll still lose a grand so I see your point. Buy a Rolex, the one you love, best as you can and enjoy it. You can't lose, even if you sell it and lose a little.

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Well said. Thanks.

[peterskinner]

What a boring approach to a hobby ....effectively ruling-out 95% of excellent ŵatches. Of course you may sometimes lose , as you do with your car, holidays, clothes, eating at restaurants and so on.
If you must avoid loss,just don’t buy watches. No-one needs them, after all. Rolex are great, but like eating the same food all the time, the pleasure will dim.

[sunnygps]

I am not sure why one would think that you can’t lose money selling a Rolex. Try buying a TT DJ41 at even MSRP, you will lose more than a grand on it.

You buy to enjoy the watch, and if I were to worry about value retention, I would try some other hobby.

[77T]

OP: what are you doing this for?

I’m not saying you’re wrong to focus on Rolex, but there are many other better brands than the ones you gave as an example.

e.g., PP, AP, Omega

If you’d tried them, your non-Rolex tune would have been different.


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[maxymax]

OP, glad you learnt your lesson and came out clean. That’s your perspective though and definitely not shared by many other true WISs

[westcoastghost]

If you buy right you're fine. You can buy wrong on a Rolex too if you don't understand the market or just have bad timing. I never bought watches for resale value, but I have lost more on a 1 year old rolex explorer I that I received a decent discount on than I did on a 1 year old Panerai Logo. Both watches purchased new. Now if I was on the other end of both deals as a buyer and decided to sell today, I'd make decent money on the Explorer and probably break even after fees on the Panerai. Point being brand is not the only variable to consider when looking at a value buy, especially if you are buying pre-owned.

[scheneider]

So u buy just to think how much you ll get when you sell it. Thats not passion.


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[gabbysplace]

Someday all these things could be basically worthless. Who knows what the future will hold... Look what’s happened to other collectibles. For instance, antique furniture peaked about 20 years ago and now sells for pennies on the dollar, in the US at least. Who’s to say the same can’t happen to Rolex? Just try to enjoy them!


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[shalako]

Spoken like the new breed of watch collector - obsessed only with investment who thinks they have a divine right to buy and use expensive luxury items then resell at a profit or at the very least without loss.

[peterpl]

You'll be killing yourself if your main aim is value retention.

Just sit back and think about it for a minute. What are they? Watches.............think about where that stands in a environment where the economics are not so favorable like what is happening in Hong Kong and Germany. Do you think anyone in HK right now cares about watches? Watch market is down the shitter.

Buy because you like the hobby. I've said it too many times now if your number 1 thing is value retention this game is not for you. Not at all especially if the $1200 is a significant amount for you - that loss is childs play.

[Milibrk@]

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

[lear60man]

I bought my first Rolex because its the watch I wanted ever since I saw one as a kid. The first time I got a nice tax return with no major expenses in sight, I bought it. It has been my almost daily wear for the last 18 years. its gone up in value, great. Would I feel sad if it lost value, no because it was the one.

Its a 2002 TT Blusey. Finally found a bezel insert (chipped the old one) and that is the only flaw. No noticeable band flex, no visible scratches or nicks without a loop. Dont know how its survived looking this good this long, but its a part of me now. Paid something like $4200 back then, wouldnt sell it for $10,000. Funny thing is I bought a 2019 SeaDweller and its sat on the shelf for two months sans two days.

There are a lot of good looking watches out there, but nothing that captures me enough to drop thousands of $$ on.

[Chewbacca]

OP, Radiomir next time. Actually try it before the YM.

I've had several and the Rads were all just a better PAM option on the wrist and a better watch overall.

[rootbeer7]

And that’s why you can’t buy a Rolex............

[watchtung]

To me you enjoyed the watches. Its a small payment to have had them on your wrist and enjoy. Of course everyone wants to have their purchases go up in value but I walk into ever watch thinking I may not get any of my money back on this.

[jimcameron]

Fun is never cheap.