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Is it worth buying 1 expensive watch? - Page 6

post #76 of 96
Quote:
Originally Posted by Upward View Post

The advantage to owning a Rolex or other expensive watch is it can be sold and some money recouped. If you buy a $10,000 Rolex you can expect to be able to sell it quickly and get back 40%-50% of what you paid. I don't know how easy it would be to sell a cheap $200 watch.

The downside is expensive automatic watches require service every 3-5 years, and service can range from $400 to $1000+ depending on what watch.

Do your research before you buy, how much you can sell it used if you wanted to buy a different watch, how much it costs to service, ect.

You will be wearing the watch so buy what you like. Decide if a 36mm or 40mm or larger watch looks good on your wrist. Bigger is not always better, Charlie Sheen wears a 36mm YM on tv and he has a collection worth millions. Decide if you want steel, gold, white gold, or something else and be prepared to pay more than the precious metal is worth. Decide how much you want to spend. Decide what you will use the watch for, do you dive or swim with it, do you use it to time a race, do you want to know the day or date or other information on the watch? That should help make a decision. 

I had a Rolex and sold it. It ran fast and I got tired of resetting the time every week. They offered to fix it, and perform a service for $1000. I sold it.

I have worn Omega but never owned one. Omega is pursuing Rolex to grab the market of $10,000 watches. They raise prices often to try and catch Rolex and they stopped selling in stores and now sell in corporate owned botiques. 5 years ago you could by a Seamaster for $2,000, now they are selling for triple that amount. Omega is developing in house movements. If you buy Omega, know what you're buying, if the movement is the more valuable inhouse or if it is an older movement, and if it is an older quartz that does not hold value like automatics.

What I like recently is the Citizen eco-drive watches. They are quartzs, they have almost no resale value, but they look good and they have features that I like.

Once you own and sell watches, you will probably want to have 2 or 3 nice watches.

Remember, if you own an automatic and don't wear it for a couple days it will stop running and you will have to reset the date, time, ect. They sell winder boxes to take care of that but some people think that reduces the life of a watch.

I hope you find a watch you like and don't worry too much about other people. I can say when I had my gold Rolex the only women who noticed it are women who had no good intentions than to try and get as much money from the wearer as possible. Most people didn't notice it. A cheap stylish watch may have more desired outcomes of completing a look you're going for without attracting attention from gold diggers.


I agree with most of your points except for the first one. That is possibly the worse reason to buy an expensive watch. If im gonna drop 5-30k for a watch im not thinking to myself "hey its ok cuz i can sell it for at least half the price later on!"
post #77 of 96
Quote:
Originally Posted by jeff13007 View Post


I agree with most of your points except for the first one. That is possibly the worse reason to buy an expensive watch. If im gonna drop 5-30k for a watch im not thinking to myself "hey its ok cuz i can sell it for at least half the price later on!"

Fortunately this is not always the case. However it does just depend on which watch you buy and what you actually paid for it. Some watches do tend to do much better than others, and if you buy second hand then the first owner will have suffered the loss and not you. Then again some watches can actually increase a bit in value over the years, but then again there are no guarantees.

 

 

So as with anything else it is best to buy wisely, and buy because you really like it and not because you intend to resell it.

post #78 of 96

 

Quote:
Originally Posted by Upward View Post

The advantage to owning a Rolex or other expensive watch is it can be sold and some money recouped. If you buy a $10,000 Rolex you can expect to be able to sell it quickly and get back 40%-50% of what you paid. I don't know how easy it would be to sell a cheap $200 watch.

 

 

The flipside of that analysis - by your numbers - is that you stand to lose $5-6k on the resale of your Rolex, whereas you stand to lose a maximum of $200 on your cheap watch.  This is an advantage for Rolex how, exactly?

 

The bolded portion below is false.  Omega (as with many manufcturers) has opened several boutique stores, but by no stretch of the imagination have they "stopped selling" through their existing chain of authorized dealers.  I was just in one yesterday for crying out loud. 

 

 

Quote:

Originally Posted by Upward View Post

 

I have worn Omega but never owned one. Omega is pursuing Rolex to grab the market of $10,000 watches. They raise prices often to try and catch Rolex and they stopped selling in stores and now sell in corporate owned botiques.

post #79 of 96
Quote:
Originally Posted by dddrees View Post

Fortunately this is not always the case. However it does just depend on which watch you buy and what you actually paid for it. Some watches do tend to do much better than others, and if you buy second hand then the first owner will have suffered the loss and not you. Then again some watches can actually increase a bit in value over the years, but then again there are no guarantees.


So as with anything else it is best to buy wisely, and buy because you really like it and not because you intend to resell it.


Very true. I went to an hour lounge (Vacheron Constantin collectors club) meet up recently and there is a certain demographic that buys those very rare models with the expectation that they will go up in value e.g one guy paid a 30 percent downpayment of 135 grand and was complaining about how he never even got to see the watch and was asking the rep if they had even started lol. But i think with these kinds of customers its more akin to buying expensive pieces of art rather than just a time piece. An interesting fact i learned with some watch shop owners was that some of their most expensive pieces which us mere mortals hardly get a chance to see are actually second hand watches that have gone up in value, im not talking about those bog standard calatravas, maltes, patrimonys, classiques etc I'm talking about those grand complications or minute repeaters. At the meet i saw one with a Tourbillon, day/date/month and a minute repeaters. Retailed for 750k but now is closer to about a million
post #80 of 96
Quote:
Originally Posted by RogerP View Post

 

What they do is insist increasingly that dealers open Omega-only boutiques in order to keep the agency.  With big chain retailers, they're not worried: the bigger the chain, the more rigid the pricing structures generally, and so the more reassured Omega are that the AD is not undercutting other outlets and lowering the real market price.

 

It's the smaller independent ADs who are losing the agency - or being told to open an Omega-only boutique as the price of keeping it.  Rolex have done the same in the last few years, cutting off thousands of independent ADs and opening many new boutiques - but they're not owned by Rolex, they're AD-owned, but designed and run to Rolex's specifications.  Patek Philippe and Panerai have done the same to their AD in my local market.  It's partly prestige of course, but also about commitment to price control.

post #81 of 96
Quote:
Originally Posted by mimo View Post

What they do is insist increasingly that dealers open Omega-only boutiques in order to keep the agency.  With big chain retailers, they're not worried: the bigger the chain, the more rigid the pricing structures generally, and so the more reassured Omega are that the AD is not undercutting other outlets and lowering the real market price.

It's the smaller independent ADs who are losing the agency - or being told to open an Omega-only boutique as the price of keeping it.  Rolex have done the same in the last few years, cutting off thousands of independent ADs and opening many new boutiques - but they're not owned by Rolex, they're AD-owned, but designed and run to Rolex's specifications.  Patek Philippe and Panerai have done the same to their AD in my local market.  It's partly prestige of course, but also about commitment to price control.


Well in singapore they have started to do stand alone Lange, Patek, Vacheron etc. These arent corporate owned but rather set up by the big watch stores (companies) that imported them before, for example Patek and lange although they are stand alone botiques are still done by Cortina. I think its the same for the stand alone Rolex stores in NYC which are usually connected to a tourneau.
post #82 of 96

Isn't that what I just said? :teach:

post #83 of 96
One thing that is often underestimated is the maintenance cost that comes with prestige watches. If you like and collect them, it is fine, but the average guy would find it not a good deal, and Quartz is not much better. For example over the last few years I have spent around 600 gbp for a complete overhaul of a 1975 rusty omega constellation, 220 gbp for a full service a new Crystal of an old Swiss/ Neapolitan watch from 1970 (with an ETA 2789 day / date movement) and just under £100 for servicing (battery/gaskets/clean/re-oil) a 1989 quarts Breitling (full overhaul would have costed just over £250). These were not acquired as vintage but recently passed onto me by my father and had been his everyday watches that had at some point stop working and left in a drawer. More modern automatic watches normally cost me at least £160 when I service them every 5 years or so. In summary they may last a lifetime or two but will have an expensive upkeep if you actually want to wear them.
post #84 of 96
Quote:
Originally Posted by mimo View Post

Isn't that what I just said? teacha.gif

Yup i was giving supporting facts to your argument! smile.gif

It doesnt work as well cuz your quote where he said "they are moving to exclusive corporate dealers" or however it went doesnt show lol
post #85 of 96

All good, was just being a dick :)

post #86 of 96
Quote:
Originally Posted by DrZRM View Post

Except for a very few brands, watches don't hold their value very well. Think like a car, most lose 50% the moment you step out of the door of the shop. That means you can buy a lot of used watch for $1-2K, I know a lot of folks here bash used watches, but once you put it on, it's used anyway. On the other hand, if you get a watch used at a good price, you can pretty much always get your money back out.

Though I'd be happy to have an IWC Portuguese (the Panda, black with white subs), I've never much wanted a watch that retails much over $4K (OK, I had a thing for a Zenith once, but nothing ever came of it) and I've never paid over $1,800 to get any I own. My Omegas (Aqua Terra & Speedmaster Broad Arrow) Sinns (142 & 956), and IWC GST Chrono are all well constructed, long lived, and I love to have them. I doubt I'll ever sell any of them, though I did sell off my first "nice" watch, a quartz Tag, and gave a Movado Vizio I'd stopped wearing to my wife. I'd echo avoiding quartz altogether.

Jimmy's cut off of $2,500 retail makes sense, though there are some great brands that slip in under that cutoff. If I were going to have only one watch, I'd get a used Omega Speedmaster (around $1,800 used with box, tags, and original receipt from authorized dealer if you look around). With a few straps (black and brown, probably croc) and the bracelet it comes on you can dress it up or down as much as you need.


This is what i did.
A watch is man's only jewelry. why mechanical and not quartz? do you like fused stuff or prefer canvas? wool or poly? i prefer something that as lots of history that as an intemporal (don't remember how you say it in english) design. It's you decision, I think the decision you make will tell about who you are.

post #87 of 96
Quote:
Originally Posted by marcodalondra View Post

One thing that is often underestimated is the maintenance cost that comes with prestige watches. If you like and collect them, it is fine, but the average guy would find it not a good deal, and Quartz is not much better. For example over the last few years I have spent around 600 gbp for a complete overhaul of a 1975 rusty omega constellation, 220 gbp for a full service a new Crystal of an old Swiss/ Neapolitan watch from 1970 (with an ETA 2789 day / date movement) and just under £100 for servicing (battery/gaskets/clean/re-oil) a 1989 quarts Breitling (full overhaul would have costed just over £250). These were not acquired as vintage but recently passed onto me by my father and had been his everyday watches that had at some point stop working and left in a drawer. More modern automatic watches normally cost me at least £160 when I service them every 5 years or so. In summary they may last a lifetime or two but will have an expensive upkeep if you actually want to wear them.


That is true. You will have to maintain it. Don't we have to maintain in stuff? Our cars, our house, our clothes...  When the time for maintenance comes i will change the dial in mine. (to a panda dial) And you can put new parts and get it brand new.

Why it's better that's something one will one understand when he reads about watches. It's the same as clothes and shoes.

post #88 of 96
Quote:
Originally Posted by RogerP View Post
 


If you buy a used rolex there is no reason except damage to not sell it for the same price. You will loose in maintenance if you do it.
And yes if you buy a watch for 4000 and sell it for 3000 you lost 1000. so you paid only 1000 to wear a rolex instead of 200 to use crap.

post #89 of 96

And since watches prices are always going up that will help you not to loose money when you sell it. You will say: It now costs 4000.  You sell for 2000 (the same price you bought used)  it's half the price in retail.

post #90 of 96

The cost for a speedmaster in the 60s was 185 dollars 

 

$185.00 in 1965 had the same buying power as $1,361.42 in 2013. (http://www.dollartimes.com/calculators/inflation.htm)

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