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Lou wants a Rolex · 14 August 2018, 12:07 PM

Being new to the forum I was curious how people pay for their watches. Theses are expensive and people are in different places in life so I was curious.

I have been a collector of things other then watches my whole life. I decided to slowly liqudate some of my stuff to help purchase my first Rolex.

My Datejust was $6600 I sold $2500 worth of stuff. I would like to sell maybe $1000 more. Then do a 18 month 0% cc. I can pay in full but I don’t like to tie up funds.

I am curious how creative people get to purchase these fine timepieces

haven_seeker · 14 August 2018, 12:28 PM

I never bought a watch on credit. Part of why I got to the game late....

FirstF80InSpace · 14 August 2018, 12:29 PM

Personally, I would never finance a watch. A house, for sure. A car, maybe. But if I don't have the funds for a watch, I will wait until I do.

Having said that, typically when I acquire a new piece, I get rid of an existing one. I like to keep my collection to 5 watches max.

Lou wants a Rolex · 14 August 2018, 12:34 PM

I never take on credit debt I can’t settle the day after I take the credit.

haven_seeker · 14 August 2018, 12:35 PM

Quote:

Originally Posted by FirstF80InSpace

Personally, I would never finance a watch. A house, for sure. A car, maybe. But if I don't have the funds for a watch, I will wait until I do.

Having said that, typically when I acquire a new piece, I get rid of an existing one. I like to keep my collection to 5 watches max.

Funny I’m at the same number.

Michigan_State · 14 August 2018, 12:36 PM

These threads often turn into >>I‘d never finance<<, which was never the question (not if, but how). Share your stories guys and gals

ProdigalGil · 14 August 2018, 12:38 PM

My view is that “luxury” watches dictate affordability. It is affordable when one have excess money.

That is why many buy a luxury watch as a success milestone in life.

For me, when I finish a project or hit a bonus at work, I put it on a luxury watch. Ones you have a few, you can start to swap them out as some choices will hold significant value and the hardship of most of us to save from scratch will lessen the burden.

I generally buy preowns for sure, but at the least within the warranty. For example, I look for preown Rolex at least 10-15% off list around 2013 or newer. Of course that would depend on the piece. DJ2 or Explorer II for example.

Sent from my iPhone using Tapatalk

DonBateman · 14 August 2018, 12:39 PM

I’ve used some 0% CC to purchase watches. Why not. Free money. I’m not old so I don’t have piles of cash laying around in the bank plus I’m saving for a new home. Most my excess income goes in my 401k. Pay half and pay off the rest over 18 mos. I get quarterly bonuses and use those to pay it down.

ProdigalGil · 14 August 2018, 12:42 PM

Quote:

Originally Posted by DonBateman

I’ve used some 0% CC to purchase watches. Why not. Free money. I’m not old so I don’t have piles of cash laying around in the bank plus I’m saving for a new home. Most my excess income goes in my 401k. Pay half and pay off the rest over 18 mos. I get quarterly bonuses and use those to pay it down.

Some of us are old and still don’t have piles of cash around...lol!

Sent from my iPhone using Tapatalk

webprotege · 14 August 2018, 12:42 PM

I must have the cash however, I too like to use other’s money so if I do finance it’s always 0% and put my cash to work somehow. It’s always readily available should I need, want or decide to pay the account early. I have come out ahead every time I’ve done it. Remember, this collecting is a want not a need so don’t get caught up in the hype and overextend yourself.

watchmework · 14 August 2018, 12:43 PM

If you’ve got 0% APR for say a year on a credit card and have most of the cash set aside, I’d buy that route. You’ll get the credit card points and depending on your card some extra assurances/warranty.

lenfried29 · 14 August 2018, 12:51 PM

I purchased my two in a row Rolexes one month apart. I could buy them with cash but AD offered 6 month no interest. I thought it's free money and 6 month get me to the bonus time.
My coworker purchased his BLNR with 24 month interest free from his AD. So, one and a half year later he still paying for his watch and getting ready for another one.

BigJoe · 14 August 2018, 12:51 PM

I put them on my credit card to get the points then pay it off on the next statement.

DonBateman · 14 August 2018, 12:51 PM

Quote:

Originally Posted by watchmework

If you’ve got 0% APR for say a year on a credit card and have most of the cash set aside, I’d buy that route. You’ll get the credit card points and depending on your card some extra assurances/warranty.

Good point. The points. You could rack up a few hundred dollars in points just from putting it on the card.

DonBateman · 14 August 2018, 12:52 PM

Quote:

Originally Posted by ProdigalGil

Some of us are old and still don’t have piles of cash around...lol!

Sent from my iPhone using Tapatalk

Lol

HogwldFLTR · 14 August 2018, 12:54 PM

Cash is king. I've always paid straight away for any watch.

scarlet knight · 14 August 2018, 12:54 PM

Quote:

Originally Posted by BigJoe

I put them on my credit card to get the points then pay it off on the next statement.

This is what I do.

NimbleNavigator · 14 August 2018, 12:58 PM

I like to take out a third mortgage so I can afford the platona.

onemany · 14 August 2018, 01:06 PM

Credit card and 0% interest. It's free money and points.

Torque Time · 14 August 2018, 01:39 PM

I go to work everyday, save a little each month, and when the $ and time is right, I crack the piggy bank and buy the watch I want.

ComfortablyNumb · 14 August 2018, 01:43 PM

Quote:

Originally Posted by haven_seeker

I never bought a watch on credit. Part of why I got to the game late....

Same here. I couldn’t take part in the game until my 40’s but I still put on Amex or my chase for the points. I just pay in full at the end of the month.

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Fishrus · 14 August 2018, 01:44 PM

Credit card purchase with the bill fully settled the next month. Would have taken 0% instalments if my AD would allow it and invest the money instead.

Never leverage to buy a watch, unless of course you can buy one at MSRP when its selling at a super high premium on the grey market (eg. SS BLRO, SS Daytona)

Rolexism_ · 14 August 2018, 01:48 PM

Cash is KING!

markseattle · 14 August 2018, 01:56 PM

Cash if it will give me a better discount, credit card and then pay it off when I get the statement.

Mark

gttime · 14 August 2018, 01:59 PM

Quote:

Originally Posted by haven_seeker

I never bought a watch on credit. Part of why I got to the game late....

I wrote a lengthy response which sounded preachy. The short answer is I completely agree about this for both watches and nice cars.

oldman2005 · 14 August 2018, 02:04 PM

Quote:

Originally Posted by BigJoe

I put them on my credit card to get the points then pay it off on the next statement.

Same here, I used the point to get free airplane tickets for traveling.

Pongster · 14 August 2018, 02:04 PM

Hard earned money.

GB-man · 14 August 2018, 02:11 PM

By selling other watches of course!

tan0116 · 14 August 2018, 02:11 PM

I think they'll be strong opinions here based on the title of this thread. I did not finance and will not purchase non-essential items unless it's a small percentage of my assets.

ashokleyland · 14 August 2018, 02:13 PM

Quote:

Originally Posted by Pongster

Hard earned money.

marikina the shoe capital?

14 August 2018, 12:07 PM	#1
Lou wants a Rolex "TRF" Member Join Date: Aug 2018 Location: USA Watch: Rolex Datejust 36 Posts: 60	How did you finance your Rolex Being new to the forum I was curious how people pay for their watches. Theses are expensive and people are in different places in life so I was curious. I have been a collector of things other then watches my whole life. I decided to slowly liqudate some of my stuff to help purchase my first Rolex. My Datejust was $6600 I sold $2500 worth of stuff. I would like to sell maybe $1000 more. Then do a 18 month 0% cc. I can pay in full but I don’t like to tie up funds. I am curious how creative people get to purchase these fine timepieces

14 August 2018, 12:36 PM	#6
Michigan_State "TRF" Member Join Date: Jan 2018 Real Name: Vince Location: Michigan Posts: 547	These threads often turn into >>I‘d never finance<<, which was never the question (not if, but how). Share your stories guys and gals __________________ Have a nice day!

14 August 2018, 12:51 PM	#13
BigJoe "TRF" Member Join Date: Nov 2015 Location: Hurst TX Watch: TT blue Sub Posts: 116	I put them on my credit card to get the points then pay it off on the next statement. __________________ Polar Explorer II - 216570 TT Blue Submariner - 116613LB Jack Heuer 85th Anniversary Autavia Garmin Fenix 3

14 August 2018, 12:54 PM	#16
HogwldFLTR 2024 Pledge Member Join Date: Aug 2012 Real Name: Lee Location: 42.48.45N70.48.48 Watch: What's on my wrist Posts: 33,256	Cash is king. I've always paid straight away for any watch. __________________ Troglodyte in residence! https://www.rolexforums.com/showthread.php?t=808599

14 August 2018, 01:44 PM	#22
Fishrus "TRF" Member Join Date: Jul 2018 Real Name: Goh Location: Singapore Watch: 116622 Posts: 438	Credit card purchase with the bill fully settled the next month. Would have taken 0% instalments if my AD would allow it and invest the money instead. Never leverage to buy a watch, unless of course you can buy one at MSRP when its selling at a super high premium on the grey market (eg. SS BLRO, SS Daytona) __________________ Watches owned: Rolex GMT II 126710BLRO \| Patek Philippe 5205G \| Audemars Piguet 15500ST \| Rolex DJ 16233 \| Tudor BBBBB 79250BB \| Ball DM1036A

14 August 2018, 12:28 PM	#2
haven_seeker "TRF" Member Join Date: May 2015 Location: Northern Ontario Watch: 19018N OQ Posts: 848	I never bought a watch on credit. Part of why I got to the game late....

14 August 2018, 12:29 PM	#3
FirstF80InSpace "TRF" Member Join Date: Nov 2017 Location: Canada Posts: 354	Personally, I would never finance a watch. A house, for sure. A car, maybe. But if I don't have the funds for a watch, I will wait until I do. Having said that, typically when I acquire a new piece, I get rid of an existing one. I like to keep my collection to 5 watches max.

14 August 2018, 12:34 PM	#4
Lou wants a Rolex "TRF" Member Join Date: Aug 2018 Location: USA Watch: Rolex Datejust 36 Posts: 60	I never take on credit debt I can’t settle the day after I take the credit.

14 August 2018, 12:38 PM	#7
ProdigalGil "TRF" Member Join Date: Nov 2016 Location: London Watch: Rolex DJ II 116334 Posts: 114	My view is that “luxury” watches dictate affordability. It is affordable when one have excess money. That is why many buy a luxury watch as a success milestone in life. For me, when I finish a project or hit a bonus at work, I put it on a luxury watch. Ones you have a few, you can start to swap them out as some choices will hold significant value and the hardship of most of us to save from scratch will lessen the burden. I generally buy preowns for sure, but at the least within the warranty. For example, I look for preown Rolex at least 10-15% off list around 2013 or newer. Of course that would depend on the piece. DJ2 or Explorer II for example. Sent from my iPhone using Tapatalk

14 August 2018, 12:39 PM	#8
DonBateman Banned Join Date: Mar 2017 Location: IL Watch: I like watch Posts: 753	I’ve used some 0% CC to purchase watches. Why not. Free money. I’m not old so I don’t have piles of cash laying around in the bank plus I’m saving for a new home. Most my excess income goes in my 401k. Pay half and pay off the rest over 18 mos. I get quarterly bonuses and use those to pay it down.

14 August 2018, 12:42 PM	#10
webprotege "TRF" Member Join Date: Jun 2018 Location: Florida Posts: 74	I must have the cash however, I too like to use other’s money so if I do finance it’s always 0% and put my cash to work somehow. It’s always readily available should I need, want or decide to pay the account early. I have come out ahead every time I’ve done it. Remember, this collecting is a want not a need so don’t get caught up in the hype and overextend yourself.

14 August 2018, 12:43 PM	#11
watchmework "TRF" Member Join Date: Jun 2017 Location: DC Watch: 126710BLRO, 116600 Posts: 7,869	If you’ve got 0% APR for say a year on a credit card and have most of the cash set aside, I’d buy that route. You’ll get the credit card points and depending on your card some extra assurances/warranty.

14 August 2018, 12:51 PM	#12
lenfried29 Banned Join Date: Jun 2018 Location: Far Far Away Watch: tick-tock Posts: 1,206	I purchased my two in a row Rolexes one month apart. I could buy them with cash but AD offered 6 month no interest. I thought it's free money and 6 month get me to the bonus time. My coworker purchased his BLNR with 24 month interest free from his AD. So, one and a half year later he still paying for his watch and getting ready for another one.

14 August 2018, 12:58 PM	#18
NimbleNavigator "TRF" Member Join Date: Jul 2018 Location: CONUS Posts: 370	I like to take out a third mortgage so I can afford the platona.

14 August 2018, 01:06 PM	#19
onemany "TRF" Member Join Date: Jul 2018 Location: Philadelphia/NYC Posts: 129	Credit card and 0% interest. It's free money and points.

14 August 2018, 01:39 PM	#20
Torque Time "TRF" Member Join Date: Oct 2017 Real Name: Archie Location: Washington, DC Watch: TT DJ 1601 Posts: 359	I go to work everyday, save a little each month, and when the $ and time is right, I crack the piggy bank and buy the watch I want.

14 August 2018, 01:48 PM	#23
Rolexism_ "TRF" Member Join Date: May 2018 Posts: 126	Cash is KING!

14 August 2018, 01:56 PM	#24
markseattle "TRF" Member Join Date: Jul 2005 Real Name: Mark Location: Northwest Watch: BLNR-Daytona C Posts: 192	Cash if it will give me a better discount, credit card and then pay it off when I get the statement. Mark

14 August 2018, 02:04 PM	#27
Pongster "TRF" Member Join Date: Dec 2016 Location: Marikina Posts: 2,561	Hard earned money.

14 August 2018, 02:11 PM	#28
GB-man 2024 Pledge Member Join Date: Nov 2012 Location: USA Watch: addiction issues Posts: 36,864	By selling other watches of course! __________________

14 August 2018, 02:11 PM	#29
tan0116 "TRF" Member Join Date: Feb 2016 Location: DC Metro Posts: 31	I think they'll be strong opinions here based on the title of this thread. I did not finance and will not purchase non-essential items unless it's a small percentage of my assets.

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