Selling House for a Rolex

[jasonsensation]

I plan to use 30% of the profit to buy a Daytona

has anyone else ever done this, used house profit to buy a watch/car

[brandrea]

Not for me. Fun money is what I use for things like luxury items.

Real estate and investments I keep separate.

To each their own

[Podmornica]

Hey, I know even worst examples in Europe .. Sold the house to fund the car that will depreciate soon after by 50% .. So, why not!? The Daytona should at least hold it's value while you enjoy it ..

[Marcjvr]

It’s just a watch

[trippinjimmy]

You're getting a new house, right?

[WatchLurv]

I hope you're buying a 116506...

[jasonsensation]

Originally Posted by trippinjimmy

You're getting a new house, right?

yes why?

[jasonsensation]

Originally Posted by Podmornica

Hey, I know even worst examples in Europe .. Sold the house to fund the car that will depreciate soon after by 50% .. So, why not!? The Daytona should at least hold it's value while you enjoy it ..

ty

[padi56]

Originally Posted by brandrea

Not for me. Fun money is what I use for things like luxury items.

Real estate and investments I keep separate.

To each their own

Have to agree Brian.

[HogwldFLTR]

I am homeless after buying my Platona although it's a hit at the shelter. (I can't believe I thought that; must be spending too much time on Amazon). Hey there are people that make their living flipping real estate. If the money comes from that or stock growth, what's the difference?

[jasonsensation]

I'm Welsh, i bought the house cheap to begin with.

surely i dont need to put all profit towards new mortgage

[padi56]

Originally Posted by jasonsensation

I plan to use 30% of the profit to buy a Daytona

has anyone else ever done this, used house profit to buy a watch/car

What about the option in another post you recently made below.

First time buyer requires ££ advice
I'm looking for some advice! I have the opportunity to get a Black Ceramic GMT on Interest Free Finance over 2 years, with only a 10% Deposit. Now another ''up'', is also the fact the Authorised Dealer is not keeping the warranty/papers etc.
My overall Goal is to own the much sought after GMT Batman, however it would mean placing a deposit with a different store, and i would need to take out a Personal loan resulting in paying back huge amounts of interest. At what point is it better to buy the black ceramic now, and be content with that instead of getting the Batman and probably end up paying back £1,500 in Interest over 5 years.

[AshAP]

Originally Posted by jasonsensation

I plan to use 30% of the profit to buy a Daytona

has anyone else ever done this, used house profit to buy a watch/car

Wow, is this from the sale of your primary residence? will you be borrowing to buy your next house? Since you’ve asked, IMO using 30% of your capital in this way is a whole new level of ‘stupid’.


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[DYJ150]

Originally Posted by jasonsensation

I plan to use 30% of the profit to buy a Daytona

has anyone else ever done this, used house profit to buy a watch/car

You cannot be serious

[jasonsensation]

Originally Posted by padi56

What about the option in another post you recently made below.

First time buyer requires ££ advice
I'm looking for some advice! I have the opportunity to get a Black Ceramic GMT on Interest Free Finance over 2 years, with only a 10% Deposit. Now another ''up'', is also the fact the Authorised Dealer is not keeping the warranty/papers etc.
My overall Goal is to own the much sought after GMT Batman, however it would mean placing a deposit with a different store, and i would need to take out a Personal loan resulting in paying back huge amounts of interest. At what point is it better to buy the black ceramic now, and be content with that instead of getting the Batman and probably end up paying back £1,500 in Interest over 5 years.

That's old news! I got a loan for the Batman in the end.

I'm using some of the house profit to pay off the loan! - meaning my house basically bought my watch, cool huh?

But i also want a Daytona now lol

[SpeakWithMichael]

Originally Posted by AshAP

using 30% of your capital in this way is a whole new level of ‘stupid’.

Surely we can think that and use more gentlemanly language towards others?

[AshAP]

Originally Posted by SpeakWithMichael

Surely we can think that and use more gentlemanly language towards others?

If the guy posts that he’s gone bankrupt and lost his house and his watch because everybody was really gentlemanly and supportive with their advice how will you feel? The guy has asked for opinions and he may be about to make a catastrophic error in judgement, I just gave my opinion that’s all - he doesn’t have to pay attention to it.


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[nnigel46]

Please don’t do it

[beshannon]

Originally Posted by jasonsensation

I plan to use 30% of the profit to buy a Daytona

has anyone else ever done this, used house profit to buy a watch/car

Why?

[JonaG]

With uncertainty in the UK right now this seems a really bad idea.

[astewartconst]

Bad idea


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[Spartacus]

Platinum at least, I hope?

[WatchLurv]

Originally Posted by Spartacus

Platinum at least, I hope?

Reading from this thread I doubt it's the Platona

OP is counting pennies and got a repayment plan for his Batman... I don't get it. I simply don't.

Roll your money and make more instead of locking it up on a watch for personal pleasure.

[playford]

If you are borrowing to go to the next house you are essentially getting a mortgage for the value of a daytona.

That's a lot of watch to borrow this way if grey market.

I get its not a lot per month, but isn't cheap long term.

[BisonHead]

This is a whole new level of stupid.

[Jayhawk1]

Not a good pattern evolving...

[rajurama]

Watches really bring no other added value that it justify taking a loan.. A car or any machinery/medical maybe yes as its a mode of transportation or makes life comfortable...


You need to take a break from the obsession of watches if it drains you financially as there many more important things in life and better use of money.

Lastly I hope you not trolling.

[Pw92676]

Without making any other assumptions here, just based on the wording in the original post, I ABSOLUTELY would not. Heck I am considering selling my third property and have a hard time justifying using some of those gains on watch/luxury good purchase!

[Dsmith1974]

Sure I’d do it. I’m thinking of doing of similar though circumstances may be slightly different. (Breakup with ex and a joint mortgage).

You’ve got to ask yourself these two questions.

What’s more fun?
What gives you more pleasure?

I’m not saying there aren’t other questions you should ask too, but at least ask these two.

It’s easy for a wealthy guy with a Platona he bought with interest off capital or an AP RO with less than 1% savings to call every impulse purchase of love a folly.

But consider this. You only live once. If you’re in your forties or fifties and haven’t amassed millions any squirrling away of funds now is unlikely to make a huge difference.

I don’t consider watches a bad vice, as if you choose semi-wisely you get most/all or even more of your money back if/when you choose to cash out, it’s calorie free and won’t make you fat, it doesn’t raise your blood pressure or clog up your arteries or kill neurons in your brain or cause depression. It’s unlikely to give you an STD or land you in jail.

So sure investing in stocks and shares is a better investment, but a watch can be more rewarding. Even if you’d’ve been financially better off by investing.

[Bizcut1]

Originally Posted by SpeakWithMichael

Surely we can think that and use more gentlemanly language towards others?

Around here, for some, being a "gentleman" just isn't in the cards.