The elephant in the room, spending big $$$

[DCheeta]

Originally Posted by astewartconst

I agree and value preservation has always been a focus for me in watch, knife, edc hobbies. I don’t think you have to be in a $20k plus price point to find that though. Look at this Blancpain I picked up 6 months ago. It’s a mid 90s basically bnib condition. I got it for $4,600 now I don’t expect to make money on it but I can’t believe how I can lose either at this price. 38mm highly detailed case and dial, FP1185 chrono with flyback. I think you can sustain the hobby if you buy depreciated high quality watches.

Great point, but mostly I just want to say that is a f’ing awesome Blancpain!

[vman]

OP, you've got a sweet avatar. Is that you in the pic, if so, do you mind telling me how much that rebreather set you back? From what I understand, the market on pre-loved rebreathers and scuba gear in general is a bit soft...

Don't take it the wrong way, but all people have hobbies. So whatever you choose to enjoy will cost you. In the past I too was concerned about value retention but about a few months ago sold all my "value retention" time pieces... They did nothing for me. Nowadays I won't buy anything expensive that won't bring any emotional value/joy to me.

[Timekeep111]

For me it’s about what my taste is. If I like a watch and know it’s going to be a resale dog I put some thought into wether or not I’m keeping it long term. If I feel I’d flip it I won’t buy it.

Conversely if it is a good reseller I won’t think twice.

But then there is the market trends. Brands that held value have now gone to a little bit like panerai.

Bottom line for me is I rarely flip so it isn’t an issue. I look for good deals and buy what I like. I’m not a massive spender and can’t afford to drop $20,000 on a watch yet. But I still enjoy the hobby and know once the kids are grown up I can invest more into horology.

[systematic.entropy]

Originally Posted by toxicavenger

Poor buying decisions? Sounds like you are into this hobby as an investment. This is not why I am into watches.

ABSOLUTELY NOT! I acknowledge that this is a hobby, and hobbies cost money. But, I do believe in buying smart, and want to minimize my cost to play.

[Wahlberg]

Originally Posted by systematic.entropy

ABSOLUTELY NOT! I acknowledge that this is a hobby, and hobbies cost money. But, I do believe in buying smart, and want to minimize my cost to play.

So you can skip all the other brands and only buy Rolex.

[systematic.entropy]

Originally Posted by vman

OP, you've got a sweet avatar. Is that you in the pic, if so, do you mind telling me how much that rebreather set you back? From what I understand, the market on pre-loved rebreathers and scuba gear in general is a bit soft...

Don't take it the wrong way, but all people have hobbies. So whatever you choose to enjoy will cost you. In the past I too was concerned about value retention but about a few months ago sold all my "value retention" time pieces... They did nothing for me. Nowadays I won't buy anything expensive that won't bring any emotional value/joy to me.

Yep, that's me. I forget WHO took the pic. But, it was my camera, ha! I got my Megalodon rebreather new in about 2008 or so, new from the mfg. Yep, It's depreciated about 60% in 10 years, to say nothing of maintenance costs. But, it's also life support equipment. So, the initial investment had very little to do with the retention.

But, your point is not lost. And, I'm not trying to ruffle any feathers. I was really interested in striking up a discussion about this theory. Buying what you like for why you like it should always trump the "market value" present or future.

Yes, certain "affordable" makes and models hold well to incredibly well, but for every Speedmaster, there are hundreds of Super Avengers, for every Rolex, there is like 90% of the Panerai catalog.

Whereas, just due to simple stats alone, there are fewer models pre-owned above $20k and a greater percentage of them will have a higher proportionate floor.

[Timekeep111]

For me it’s about what my taste is. If I like a watch and know it’s going to be a resale dog I put some thought into wether or not I’m keeping it long term. If I feel I’d flip it I won’t buy it.

Conversely if it is a good reseller I won’t think twice.

But then there is the market trends. Brands that held value have now gone to a little bit like panerai.

Bottom line for me is I rarely flip so it isn’t an issue. I look for good deals and buy what I like. I’m not a massive spender and can’t afford to drop $20,000 on a watch yet. But I still enjoy the hobby and know once the kids are grown up I can invest more into horology.

[toxicavenger]

Originally Posted by systematic.entropy

ABSOLUTELY NOT! I acknowledge that this is a hobby, and hobbies cost money. But, I do believe in buying smart, and want to minimize my cost to play.

Why are you screaming?

Hobbies do cost money. And not everyone expects there hobby to bring in returns.

[marcusp23]

Rolex, PP, AP - SS

[rolexero]

I agree with OP that "buy what you like" can lead to poor buying / financial decisions.

As others said, buying pre-owned in most cases is the way to go. Although even then how popular this model is and how easily you can sell it matters. I had an obscure high-end B-Uhr that took forever to sell even if $ damage was minimal.

Another dynamic is that the more expensive the watch, the fewer potential buyers it has. So the upper echelon is not necessarily better, for the same reason of liquidity.

As one YouTube reviewer puts it, these are fun toys that should be bought with money you can afford to lose. This resonates the most with me. When I have enough cash flow to easily afford to buy and lose a Richard Mille, I'll do it :)

[vman]

All toys should be purchased with $ you can lose. And you'll be far better off if you invest in experiences and not things.