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LA Guy

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Definitely an interesting story. The main issue seems to be he didn't know what it was worth. However, he was the original owner, he knew it was a Rolex, and that it was a nice watch, in fact it was so nice that he was afraid to wear it. Back when he bought it, $400 was a lot of money for a watch. In 1970 a GMT Master was $250 in steel and $500 in 18Kt gold (long before gold prices shot way up in the late 70's).

Today, it is so easy for people to go online to a forum, auction site, or a respected dealer and get an estimated value for an item. It happens all the time on dedicated watch forums...although sometimes it is someone who thinks they got a deal and they are trying to determine if a watch is real or not and what the value is. Someone posted on TZ within the last few weeks that their husband/fiance was gifted a limited Edition RO Offshore, and they wanted to know how much it was worth because they need a down payment for a house. It was a fake...looked something like an AP ROO with a carbon case...but the workmanship wasn't there and it said quartz on the case back. There aren't any quartz Offshores.

Here is another story about a Daytona...she found it in a sofa she bought in a thrift store...found out it's worth 250K.
As someone who is new to this, and who came in with close to zero knowledge, but who does know forum space well, and has a friend and colleague who is into watches, I can say, first hand, that it's not easy, without some guidance to even get started. How do you find out who is a trusted dealer? Is there anyone in Fargo, or Moscow ID, who even knows where to started.

What do I search for when I don't know what I have, and have no one that I trust to help me navigate.

I think that maybe it was you who started me on figuring out what I had in my Daytona. Honestly, before that, I would have had zero clue how to start. And I'm a nerd, and a forum nerd at that. Do you think that some random, non-internet savvy guy in Fargo has any reasonable shot at having their watch priced properly. He would have sat on it forever, or maybe sold it at a huuuuuuuuge loss, had he not lucked onto that show. Yes, he thought that he had an expensive watch, but $400-500K is unfathomable to most people. You've been in this forever, so I think that it may be hard for you to put yourself in the place of someone like that, or even like me, a few years ago.

I mean, look at some of the newbie questions not here on this thread, but on Styleforum in general.
 

mak1277

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As someone who is new to this, and who came in with close to zero knowledge, but who does know forum space well, and has a friend and colleague who is into watches, I can say, first hand, that it's not easy, without some guidance to even get started. How do you find out who is a trusted dealer? Is there anyone in Fargo, or Moscow ID, who even knows where to started.

What do I search for when I don't know what I have, and have no one that I trust to help me navigate.

I think that maybe it was you who started me on figuring out what I had in my Daytona. Honestly, before that, I would have had zero clue how to start. And I'm a nerd, and a forum nerd at that. Do you think that some random, non-internet savvy guy in Fargo has any reasonable shot at having their watch priced properly. He would have sat on it forever, or maybe sold it at a huuuuuuuuge loss, had he not lucked onto that show. Yes, he thought that he had an expensive watch, but $400-500K is unfathomable to most people. You've been in this forever, so I think that it may be hard for you to put yourself in the place of someone like that, or even like me, a few years ago.

I mean, look at some of the newbie questions not here on this thread, but on Styleforum in general.
This isn't the issue though, is it? I mean obviously the original owner of a watch, or the guy/gal who inherited their grandfather's watch, is at high risk of selling for pennies on the dollar. But isn't the Sea Dweller that started this conversation being sold by a store? If someone is a watch re-seller, the odds of them not knowing what they have go down exponentially. You wouldn't be in business long if you couldn't figure out how to use the internet to properly price stuff. Even if you're normally not a watch dealer, but specialize in something else, surely you'd know how to go about valuing the object you have.
 

CBrown85

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CBrown, did you ever settle on a watch? It was you that was looking for something in the $5k range, correct?
Ugh- I didn't. I hum'd and haw'd for so long, I ended up just putting 4k into an education savings account for my 5yr old. I have 1k to play with and I think that's the range I feel comfortable. I'm still just kicking tires- teaching a couple of new courses and grad school have been busy.
 

Thrift Vader

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Sorry, if you don't like the skepticism, but your stories seem too good to be true. They seem more believable if someone is new to this hobby. You seem like a nice guy and you know a lot about cars, especially JDM cars. However, that doesn't translate into watch knowledge, of which we can always learn more. One can read a lot about watches, but there is still something about having handled and seen watches in person to be able to spot authentic ones from fakes...and there are plenty of highly detailed replicas/fakes/frankenwatches/redials.

As for the phrases such as "the "Thrift provided. and I got what I needed." ???? I have no idea what that means.
Too good to be true, would be " bought an unbroken Patek for $100. but no, i didn't.
And why? the simple answer is, I'm not greedy.
I live on a "take what you need" basis. and have railed against the purchase of items for resale for years. my belief is money comes from hard work and communication.

@patrickBOOTH I made my choice. and got a nice watch, perhaps the best i have owned to this day.an Ebel. for $100. and the broken watch is just that. a broken watch.
that perhaps now i could afford to fix it. but would i still have it now? Doubt it.
no regrets. it's just a fun anecdote. have a good network and reputation? deals come your way. take what you need and no more? well, it feels good.

The "Thrift" is a way of living. a state of mind. when you need something? it will appear.
might seem strange in here, but the Thrift thread guys are no stranger to it.


The watch that started all this, well. . . it's all been said. real. thrashed. worthless if it wasn't what it is. but wearable for a guy in a Barbour with charisma.
 

patrickBOOTH

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Ugh- I didn't. I hum'd and haw'd for so long, I ended up just putting 4k into an education savings account for my 5yr old. I have 1k to play with and I think that's the range I feel comfortable. I'm still just kicking tires- teaching a couple of new courses and grad school have been busy.
You should sell your 5 year old and get a watch.

 

Dino944

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As someone who is new to this, and who came in with close to zero knowledge, but who does know forum space well, and has a friend and colleague who is into watches, I can say, first hand, that it's not easy, without some guidance to even get started. How do you find out who is a trusted dealer? Is there anyone in Fargo, or Moscow ID, who even knows where to started.

What do I search for when I don't know what I have, and have no one that I trust to help me navigate.

I think that maybe it was you who started me on figuring out what I had in my Daytona. Honestly, before that, I would have had zero clue how to start. And I'm a nerd, and a forum nerd at that. Do you think that some random, non-internet savvy guy in Fargo has any reasonable shot at having their watch priced properly. He would have sat on it forever, or maybe sold it at a huuuuuuuuge loss, had he not lucked onto that show. Yes, he thought that he had an expensive watch, but $400-500K is unfathomable to most people. You've been in this forever, so I think that it may be hard for you to put yourself in the place of someone like that, or even like me, a few years ago.

I mean, look at some of the newbie questions not here on this thread, but on Styleforum in general.
I agree we all have to start somewhere. It takes time to learn anything. Remember back when I got into this, everything was brick and mortar stores, and paper catalogs. You couldn't easily see what various used models were selling for without traveling from city to city, shop to shop. All of that changed with the internet. Information is widely available about watches, values, and dealers. In addition, one can ask on dedicated forums for reputable dealers with an online presence to buy and sell. Many places deal with people all over the country if not the world. You can send them pix of your watch and they will give make an offer to buy your watch...for example EWC or DavidSW and a variety of other places that have a solid reputation.

Sadly, yes there are people who are not internet savvy and who will make serious financial mistakes, but they will probably also make mistakes on mortgage rates, purchase prices of cars, and a variety of other things. It would be great if everyone could be saved from making costly mistakes, but there is no way to protect people from not doing enough research.
 

Keith T

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Congrats! FOIS right?
 

chrfi

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It is the FOIS indeed, I've had a Speedy before and sold it, but this FOIS caught my eye and I now think it's the best Speedmaster for me. Slimmer case, pointy lugs etc make the watch wear smaller on my slim wrist. And I quite like the vintage feel on this one.
 

clee1982

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How regularly, do you think, watches are used to launder money? I see all these kids on instagram with million-dollar watch collections and I can't help but think it's an easy way for their parents to funnel cash.
I would think if the parents is laundry money then they better made sure the kid hides it..., though probably some watches are used for money laundry, just like some casino etc...
 

Keith T

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Yeah that’s a great watch. They say that there’s a Speedy for everybody 😀

I wore my 3594.50 to the office every day this week...

1323789
 

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