The stock market made me hit the pause button

[BillA]

I almost pulled the trigger on a 5-digit serial watch a few weeks ago.
Felt it was a decent price.
Then the market started to really tank.
In reality I don’t keep my watch purchase money in the stock market but with the market tanking and our personal investments or retirement monies taking a bath, doesn’t it cause you to pause before spending multiples over msrp at the grey dealer?
I think the AD’s will be fine, they are selling at msrp (I hope), but greys sales volumes must be way off. Perhaps more of us will get a call from our AD to come pick up a watch, perhaps wishful thinking..

[Krash]

You’re not the only one. I’m sure.

If I get the get the call from an AD, I’m still moving forward, but I see the market falling at least another 15% or more over the next year. It stings.


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[Goin2drt]

Agreed. I have money waiting for the AD call. If it does not come then so be it the money will go towards something else. I am not paying gray prices. They are unrealistic right now and while everyone says they are falling at least at the grays I would trust and buy from, they are not dropping.

[rajurama]

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

[THC]

There is simply nothing good going on right now in America, economically speaking.

[Adam84]

If my explorer comes along i will still take it, but ive got enough savings to last me 12 months if the brown stuff hits the spinny thing.

It is stopping me from purchasing other brands though..normally id buy 3-4 watches a year, so its slowing me down....not stopping.

Tbh though im at that part of my collecting journey where every piece is a very considered purchase so this period of uncertainty is good in that respect because i can take time, reserach and make correct decisions rather than rushing into buying somethign ill regret

[1William]

The market moves up, the market moves down. Both the stock market and the watch market. In the end everything ends up being more expensive even after the dips. History speaks. I buy what I want, when I want and I decide what price works for me.

[Roger Lococco]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

Roll eyes …


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[amh]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

Another way of putting it: You able to overcome your obsession during a period of uncertainty

If an AD called me I'd make the deal happen no matter what. However, let's remember these are still mere toys we're talking about. A roof over your head and food on the table takes priority - even if we're looking 30 years down the road.

[Adam84]

Originally Posted by THC

There is simply nothing good going on right now in America, economically speaking.

In fairness its not just America, the UK is pretty rocky, as is Europe....infact most parts of the world are feeling it.

[TexEd]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

You don't understand evidently. When a person is planning to make a large purchase such as a car, a home, or an expensive watch and the funds required for the purchase are invested in equities of which their value has plummeted; then it does give pause before withdrawing said funds from one's account. The decision has nothing to do with one's passion for a watch. The decision is purely financial and I understand and agree completely with the OP's logic.

[Adam84]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

I dont think thats completely fair.

People can buy watches because they love them, but also do so for financial reasons. Lets be honest, noone likes taking a bath when selling a watch if they have to...

...if your in a financial position where you might have to sell a watch in the short term, its better to take the decision not to buy in the first place.

[jarecki]

I hear you on the stock market - what a bloodbath, and it’s only just begun…

At least you’re not (hopefully) invested in LUNA!!!

[rolexpatek363]

AIUI, shares/equities/stocks are a long-term investment, not a piggybank to be raided for big-ticket purchases, and the worst thing you can do is sell when the markets are falling.

I'm not an expert, however, and I exited the stock market altogether in Feb '20.

[1665fan]

My stocks sucked so i sold them and bought more Rolex………watches are better than stocks anyways

[Goin2drt]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

Huh? This makes zero sense. So if I care about what the market is doing then I must not be a watch fan and have a passion for them? What does one have anything to do with the other? And just because I care what the stock market is doing then that means I only bought a previous watch to get the latest or it was an investment?

I guess I need my third cup of coffee and work on my reading comprehension module for the day.

[rajurama]

If you have to sell stocks to buy a watch its better to buy and enjoy a Seiko 5 which IMO is an amazing watch. I am again saying don't buy watches or multiples if its not your passion. It shouldn't really pinch your financials when getting any luxury item. Ofcourse basics come first. I still would say you really not into watches as a passion but recently many people have been collecting and hoarding watches for the wrong reasons. A normal person earlier could live a life with just one watch or max two watches and now the phone is enough for telling the time.

[harvey]

Originally Posted by rajurama

If you have to sell stocks to buy a watch its better to buy and enjoy a Seiko 5 which IMO is an amazing watch. I am again saying don't buy watches or multiples if its not your passion. It shouldn't really pinch your financials when getting any luxury item. Ofcourse basics come first. I still would say you really not into watches as a passion but recently many people have been collecting and hoarding watches for the wrong reasons. A normal person earlier could live a life with just one watch or max two watches and now the phone is enough for telling the time.

…have you been drinking?

[jfmiii]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

what a ridiculous statement.

[Goin2drt]

Originally Posted by harvey

…have you been drinking?

Honestly I was thinking the same thing. Either that or Chewy took over this account

[1665fan]

Originally Posted by harvey

…have you been drinking?

+1…….one watch lol

[ExplorerI]

Wealth effect is real. Even if you got the cash sitting there watching your net worth drop every month with the expectation of more pain to come makes you want to cling to cash.

[Sam2710]

Originally Posted by rajurama

If you have to sell stocks to buy a watch its better to buy and enjoy a Seiko 5 which IMO is an amazing watch. I am again saying don't buy watches or multiples if its not your passion. It shouldn't really pinch your financials when getting any luxury item. Ofcourse basics come first. I still would say you really not into watches as a passion but recently many people have been collecting and hoarding watches for the wrong reasons. A normal person earlier could live a life with just one watch or max two watches and now the phone is enough for telling the time.

I rarely post on this forum, but I just had to log in to reply to this one.

I don't think I've ever seen someone misinterpret a thread so spectacularly before - well done!

[just1time]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

What he said

[Harry-57]

I'll buy my next Rolex when my AD tells me it has arrived. My watch collecting has nothing to do with the stock market. If people who for some reason equate stocks to watches drop off AD waiting lists, that's fine by me. The more the better.

[brandrea]

Originally Posted by 1William

The market moves up, the market moves down. Both the stock market and the watch market. In the end everything ends up being more expensive even after the dips. History speaks. I buy what I want, when I want and I decide what price works for me.

Agree 100% with this line of thinking and is how I’ve always made decisions

[Incroyable12]

Originally Posted by Adam84

In fairness its not just America, the UK is pretty rocky, as is Europe....infact most parts of the world are feeling it.

China is doing badly too.

[rolexjackson]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

This 100%!!!


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[just1time]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

What he said.

Rolexes are luxury goods. Why apply the principle of not buying only to the Grays? If your decision to not buy from Grays is cause you are not confident about stock market fluctuations, then it is equally risky to buy from an AD as is to buy from a Gray in that situation. The premium you pay to a Gray is no different from the gas or flight you spend money on to get to an AD. The whole psychology of not buying from Grays makes no sense to me. If its a principle thing, I get it. If its to feel good to buy at MSRP, then you lost. If you have the money to enjoy what you want relatively faster and easier from a Gray than why wait undyingly and uncertainly for a AD, do it.
Life is short. There are many Grays in different forms in our modern society and there will be plenty more till the end of time. Grays are here to stay. They bridge a gap in the market. They will NEVER just disappear. A shift can happen where Rolex goes back to "normal" prices or even lower and Grays might stop "winning" but anyone with an understanding of Economic cycles knows a cycle is a cycle.

Most people psych themselves up with this whole AD msrp vs gray prices etc. ADs and Grays don't care what you do or think. Your money is your money. The desire to spend during an economic downturn is generally low. But guess what, some people have "I don't care money"...They don't care about an economic downturn or recession.
Some don't have that kind of money but take risks knowing the market will go back up.

All these decisions are yours to make. Not general decisions. Everyone feels differently about these things. Do what works for you.

[rajurama]

Originally Posted by harvey

…have you been drinking?

Nope , but I do see quite a few who understand my point.