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What Money Buys.

Discussion in 'Classic Menswear' started by LabelKing, Sep 5, 2006.

  1. LabelKing

    LabelKing Senior member

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    I saw this featured on my Yahoo page: "Indeed, it would take a curious psychological composition to comprehend spending $147,000 a year on watches, as the jet set do. Or $117,000 on clothes. Or a whopping $248,000 a year on jewelry. These people need serious help with their...finances. And that is partially why Grove and Prince conducted the survey -- as a note to advisers who might be able to help people with complex money issues." $248,000 isn't really a "whopping" amount for jewelry nor is $147,000 for a watch, and I'm sure we can agree on the clothing expenses. Kiton bespoke, perhaps?
     
  2. Toiletduck

    Toiletduck Senior member

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    OH no....thats why WE ALL need serious help with our finances...:p
     
  3. LabelKing

    LabelKing Senior member

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    I think they're jealous because of our clothes.
     
  4. luk-cha

    luk-cha Senior member Dubiously Honored

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    Was Sinndom, Now is Rolexdom
    money can not buy taste and style unfortuatly![​IMG]
     
  5. Mark_Y

    Mark_Y Senior member

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    money can not buy taste and style unfortuatly![​IMG]

    But it can buy an education, where you can learn to spell. [​IMG]
     
  6. Tokyo Slim

    Tokyo Slim Senior member

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    Where Eagles Dare!
    $248,000 is ten years of my gross taxable income.
     
  7. kronik

    kronik Senior member

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    $248,000 isn't really a "whopping" amount for jewelry nor is $147,000 for a watch, and I'm sure we can agree on the clothing expenses. Kiton bespoke, perhaps?

    I'd love some of what you're having. [​IMG]

    You know one that spends that much on jewelry probably buys a decent amount of clothes / watches as well.

    Let's put the person at a generous 300K. How in the blue hell, is this not a lot of money? [​IMG]
     
  8. LabelKing

    LabelKing Senior member

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    I'd love some of what you're having. [​IMG]

    You know one that spends that much on jewelry probably buys a decent amount of clothes / watches as well.

    Let's put the person at a generous 300K. How in the blue hell, is this not a lot of money? [​IMG]

    Well, the article seems to imply a tone of shock in referring to $248,000 as a whopping amount for jewelry when you tend to see jewelry--arguably one of the most valuable tangible commodities-- sell for much more higher prices at auction.

    And I'm sure some of the other watch enthusiasts can chime in on watch prices.[​IMG]
     
  9. luk-cha

    luk-cha Senior member Dubiously Honored

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    But it can buy an education, where you can learn to spell. [​IMG]
    tmd[​IMG]
    what do i need an education for?? schools dont teach you to spell anyway! but it does not stop me from speaking 3 languages. so what the point[​IMG]
     
  10. Toiletduck

    Toiletduck Senior member

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    I think, as I earn more money, I will spend a heckuvalot more money on clothes....I'm too materialistic for my own good...BUT DAMN IT FEELS GOOD
     
  11. Toiletduck

    Toiletduck Senior member

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    tmd[​IMG]
    what do i need an education for?? schools dont teach you to spell anyway! but it does not stop me from speaking 3 languages. so what the point[​IMG]


    I thought u were a local hong kong dude at first. But ur like...a white boy [​IMG]
     
  12. stach

    stach Senior member

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  13. edmorel

    edmorel Senior member Dubiously Honored

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    Well, the article seems to imply a tone of shock in referring to $248,000 as a whopping amount for jewelry when you tend to see jewelry--arguably one of the most valuable tangible commodities-- sell for much more higher prices at auction.

    And I'm sure some of the other watch enthusiasts can chime in on watch prices.[​IMG]


    I agree with LK, this are not "shocking" amounts of money for the items in question, especially in regards to the "jet set". I am not saying that this is not a lot of money, just not a lot of money to a lot of people. At the real high end of watchmaking, $147K barely gets you in the door (for 1 timepiece with complications). On thepurists a few years back, a guy went on vacation to Switzerland, stopped by Girard Perregaux's manufacturing facilities, fell in love with a rose gold 3 bridges tourbillon and walked out $375,000 poorer and he is not the exception on that site. One of the guys on this forum just took delivery of an F430, have you seen the price tag on that? If you have a high 7-10 figure income, $248k on clothes is not a whole lot.
     
  14. rajesh06

    rajesh06 Senior member

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    I am not saying that this is not a lot of money, just not a lot of money to a lot of people.

    I am hoping you meant "not a lot of money to some people"

    I would hate to think that there were a lot of people that could afford this kind of expenditure. I thought I read somehwhere that there are around 8,000 billionaires in the world. Assuming you need to have a net worth of $10 million or more to spend $300K a year on these things.
     
  15. aybojs

    aybojs Senior member

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    I just find it hilarious to see the idea of spending of several hundred grand a year on frivolous expenses being brushed off as trivial by peanut gallery posters who probably don't even make a fifth of that before taxes and costs of such boorishly inelegant and pedestrian items as "food" or "housing."
     
  16. Get Smart

    Get Smart Senior member

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    I just find it hilarious to see the idea of spending of several hundred grand a year on frivolous expenses being brushed off as trivial by peanut gallery posters who probably don't even make a fifth of that before taxes and costs of such boorishly inelegant and pedestrian items as "food" or "housing."


    agreed. and I dont think those "jetsetters" are buying off STP, ebay, or waiting for clearance sales either.
     
  17. johnapril

    johnapril Senior member

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    I just find it hilarious to see the idea of spending of several hundred grand a year on frivolous expenses being brushed off as trivial by peanut gallery posters who probably don't even make a fifth of that before taxes and costs of such boorishly inelegant and pedestrian items as "food" or "housing."

    May I have my dick back?
     
  18. odoreater

    odoreater Senior member

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    agreed. and I dont think those "jetsetters" are buying off STP, ebay, or waiting for clearance sales either.

    Or spending 10 hours a day hanging out and posting here.
     
  19. gamelan

    gamelan Senior member

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    i think this thread is a great time to revisit the letter from Larry Ellison's accountant telling him that he needs to controls his expenses. i think i saw the original link on the SF a few months ago.

    original link:
    http://www.sfgate.com/cgi-bin/object...NG62H06991.DTL

    letter:

    [​IMG]

    -Jeff
     
  20. edmorel

    edmorel Senior member Dubiously Honored

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    I just find it hilarious to see the idea of spending of several hundred grand a year on frivolous expenses being brushed off as trivial by peanut gallery posters who probably don't even make a fifth of that before taxes and costs of such boorishly inelegant and pedestrian items as "food" or "housing."

    Not sure what you mean by this or if it is directed at me but I never said that it was not a lot of money to me nor that I am anywhere near that stratosphere. Just mentioned that if your net worth is 25-75 million (and that there are quite a few people in that bracket and higher), would spending 150K on a watch be "shocking"? As a percentage of income/worth, it's probably less than what you spend on "frivolous" expenses. Also, if you are against such frivolity, why are you inhabiting a board in which people regularly spend big money on items other than housing and food?
     

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