Considering a DD II (if financing options are available) or TT Sub blue dial

[Hiya Buddy]

Hi guys,

I'm trying to decide between two fabulous Rolex watches. I already own 2, both TT DJ IIs, and I'm thinking of getting a third sometime in 2012. My choices seem to be the best, as I have verified that my mom likes both watches and she wants me to pick the right one (I'm 19, not some 40 year old guy living in his mom's basement).

My first option is a TT Sub C steel and yellow gold with blue dial/bezel. It's been advertised around Boston and an AD (Ross Simons) has a poster of it on their wall. Its a pretty classic piece and I would eventually like to own a watch from the Submariner collection. Honestly, I really like it because my first ever watch was the TT DJ II steel and yellow gold with champagne diamond dial and fluted bezel. It was the watch that literally caught my eye on my summer vacation to Aruba and my first Rolex. Never in a million years would I suspect that I would own a Rolex until my mom said "Let's get it, you seem to really like it."

My second choice is rather lavish and would give me that conceited bastard look. It is the DD II in Rose Gold possibly diamond dial, but I think the Arabic numbers are cool enough seeing as the watch itself is flashy enough and the diamonds would take away from the gold. I choose this one over the WG and YG because I don't have anything RG yet and the Platinum one would enslave my family and I in debt.

Now I have a question. I have heard that there are jewelers that offer 2 or 3 years of financing. The only one I have heard of so far is one in London and problem is I live in the US and not looking to go to London just for a watch. Don't get me wrong England is a wonderful country, I have been there, it just doesn't seem practical to travel 3000 miles to buy a time piece although I went to Aruba but I wasn't searching for a Rolex at the time and just happened to buy one. Anybody know of a jeweler in the northeast (maybe NYC or Boston) that will offer that sort of financing because I cannot get 37 grand on hand and I am not at the liberty to put it on a credit card. If anybody knows about this you will be a big help.

So I'm torn between these two watches. At Long's Jewelers here in Boston the sales associate offered me the TT blue dial sub for around 10,300 plus tax on the full price of the watch. I am wondering if wearing a DD II is a little too much for me considering my age, I mean I'm not even 30 yet and heck I'm not even married with kids or a house. Sales people have told me it will look a little unusual for my age and people in the younger crowd tend to go for Subs and a TT watch in steel and yellow gold is kinda pushing it for the younger crowd. So I don't think they're trying to scam me or force me into buying it. I never let a rep push me around when buying because it's a big investment.

I can say that I have tried the YG DD II when I was Hawaii last year over the summer. I didn't think about buying one then, but a year later and with two Rolex watches I'm seriously considering the DD II in RG if I could find a jeweler with a financing option seeing as the most I could put up would be around 15 grand or half its price. If not I will "settle" for the Sub ha ha because it's still a nice watch. Again if anyone can help with finding a jeweler with financing options it would be much appreciated.

So what do you guys think. Which watch is the right one for me. I love the DD II but I also the sub. And what better place to seek an answer than TRF.

Thanks for your help, any answers are appreciated!

[rohardi]

I'm 33 and I say TT Sub C!

[esm]

Originally Posted by Hiya Buddy

(I'm 19, not some 40 year old guy living in his mom's basement).

whats that got to do with the price of fish in China?

Originally Posted by Hiya Buddy

Now I have a question. I have heard that there are jewelers that offer 2 or 3 years of financing. The only one I have heard of so far is one in London and problem is I live in the US and not looking to go to London just for a watch. Don't get me wrong England is a wonderful country, I have been there, it just doesn't seem practical to travel 3000 miles to buy a time piece

most of the major chain ADs here in the UK offers a 2 or 3 years interest free financing. you'd need to provide various documentation before you are qualified - such as UK bank account, residential address and employment contract/pay slips.

if you or your mum can provide them document, it'd probably worthwhile to make the trip

Originally Posted by Hiya Buddy

So what do you guys think. Which watch is the right one for me. I love the DD II but I also the sub. And what better place to seek an answer than TRF.

Thanks for your help, any answers are appreciated!

simple - get both.
its the case of itch. scratch. job done.

[rolexkiwi]

Hi there, I say buy what you can afford. I wouldn't finance. Someone else makes money and you loose money. Maybe flip one other to purchase the new piece. You have 2 Dj 2's both TT, what's the difference in them? Could you sell one off and be happy with that?
My two cents.
Cheers.

[dalip]

You use the phrase "settle for the sub". But actually the sub is what you can afford. Financing a luxury item such as a watch will start you on a path that'll end badly IMO. You'll just collect more and more debt. In a year you'll finance again and so on... If I had your sort of disposable income right now I'd work to get on the property ladder. Once you've a house/apartment and are making payments etc see what's left. Then know what you can afford in terms of watches. Be happy with what you have. Or if you have to, trade a DJ for the sub. It's a fantastic watch and would be my choice over the DDII rg. Two rolex watches of that calibre is pretty fantastic. Good luck.

[psv]

Rule 1 in life: Only finance infrastructure investments, like a house - NEVER consumption like a watch. Rule # 2: always have at least twice as much available in cash as the item you are looking to buy, i.e. in your case if you have $20,000 in cash lying around then it is OK to spend $10,000 on a watch.

If you follow these rules in life your journey will be a smooth one, at least financially speaking.

[FremStar]

@Hiya_Buddy, Dalip has given you sound advice! I am not 30 yet either, however, own my home (via mortgage), am married, and have travelled around the world quite a bit. Would a DD2 look unusal on you? No, however, reflecting back at 19 I was focused on finishing school and having fun with the camaraderie my university had to offer. I also noticed you like high fashion which is great, yet as with time trends change. Take that cash your Mom would spend on the sub or DD2 and buy some bonds or a financial instrument that will earn you hard cash. Obviously this is my opinion and not meant to offend. You have 2 quality pieces in your collection, enjoy them. FYI, I was supposed to link up with Larry K this weekend to hear the full story of what you shared with us on TRF a few weeks ago yet time did not allow me to go All the best and enjoy college, time flies then the real work starts!

[imono]

http://liljenquist.com/

They are offering Rolex financing on Dec 3,4,5 in the Va stores.
Not sure if it is free interest or with %.

[ktmd]

You are 19? Why on earth would you want to buy a watch so expensive you need to finance it?

[z0mghenry]

At 19, I was in college and spending most money on books, going out, or drinking. I don't mean to put you off from a purchase, but if you are looking to finance, then I would assume that would eat up your money. Just remember there will always be another time to buy a watch, but you can only live your younger years once...just my 2 cents.

[VetteBandit]

Originally Posted by ktmd

You are 19? Why on earth would you want to buy a watch so expensive you need to finance it?

+1. I think you need to take a step back and think about some long term goals and not just material items. Are you planning to attend college, grad school, etc? Perhaps this money would come in handy for that journey?

I certainly don't want to tell you how to live or spend cash, but I think you need to think big picture and not just in the moment. Financing this sort of purchase will not help you in the long run......i would think. You have two great pieces, enjoy them.

[agsstructures]

I would be happy with the 2-DJII's you have and put the rest of the money towards tuition or save the money for when you eventually need to settle down and buy a place. A DDII at 19 is crazy especially if you would need to finance. Maybe even switch up the collection, keep one DJII and trade the other in for a Sub or GMT. Your very young and there will be plenty of time to buy more watches but for now I think your good with what you have.

[sub2004]

If I were you my brother, I would:

1. Sell one (or both) your date-justs

2. Get a steel sub

3. Save your tuition money and apply to Harvard College

4. Avoid any sort of debt/financing/hidden cost transactions

The watch will always be there brother, get a a good education, enjoy these years and I'm sure the finer things in life will come in due course.

You can always walk into a Rolex AD and buy a watch. But after a certain age, education, the right career etc all gets very difficult.

Cheers man

[rr-nyc]

You're 19 so get a watch you can afford to pay in cash. Being 19, you have a year or credit history at best. The reality is that you won't find a bank to approve you for a $37k revolving line of credit. You'd have a tough enough time getting approved for a secured loan let alone an unsecured one.

Besides, youd look ridiculous wearing a rose gold, diamond crusted watch at your age.

[Stonedcl]

But when you wear binnionare boys gear you gotta be sportin a gold day date with diamonds..!!

[MortgageGuy]

Originally Posted by dalip

You use the phrase "settle for the sub". But actually the sub is what you can afford. Financing a luxury item such as a watch will start you on a path that'll end badly IMO. You'll just collect more and more debt. In a year you'll finance again and so on... If I had your sort of disposable income right now I'd work to get on the property ladder. Once you've a house/apartment and are making payments etc see what's left. Then know what you can afford in terms of watches. Be happy with what you have. Or if you have to, trade a DJ for the sub. It's a fantastic watch and would be my choice over the DDII rg. Two rolex watches of that calibre is pretty fantastic. Good luck.

Originally Posted by FremStar

@Hiya_Buddy, Dalip has given you sound advice! I am not 30 yet either, however, own my home (via mortgage), am married, and have travelled around the world quite a bit. Would a DD2 look unusal on you? No, however, reflecting back at 19 I was focused on finishing school and having fun with the camaraderie my university had to offer. I also noticed you like high fashion which is great, yet as with time trends change. Take that cash your Mom would spend on the sub or DD2 and buy some bonds or a financial instrument that will earn you hard cash. Obviously this is my opinion and not meant to offend. You have 2 quality pieces in your collection, enjoy them. FYI, I was supposed to link up with Larry K this weekend to hear the full story of what you shared with us on TRF a few weeks ago yet time did not allow me to go All the best and enjoy college, time flies then the real work starts!

X2, very well said from the both of you I too would be saving $$$ or put it toward the purchase of a home That is meaning I would not finance a watch... Grab the Sub IMHO

[warren G.]

Originally Posted by psv

Rule 1 in life: Only finance infrastructure investments, like a house - NEVER consumption like a watch. Rule # 2: always have at least twice as much available in cash as the item you are looking to buy, i.e. in your case if you have $20,000 in cash lying around then it is OK to spend $10,000 on a watch.

If you follow these rules in life your journey will be a smooth one, at least financially speaking.

THIS.... especially rule #2 when it comes to luxury goods.

I'm a 21 year old student and I thought about financing a watch when I was 19. I'm very blessed to have my tuition paid off via grants and scholarship. I also work part time just to have some money to save/play with each month. With that said, I had a chance to buy my SD a lot sooner. Instead spending majority of my $$$ on a watch. I decide for every extra shifts or side jobs I get. I'll put the money on the side for my Rolex. I manage to pick up 550 extra hours at work and couple thousands from all my extra side jobs over in a year span. It was pretty hard at first... Since I didn't want to over load myself during school.

Majority of the hours came from the summer where I had to hustle for more hours and praying I wouldn't get hurt from a random Craig List ad. I mean I was so busy during the summer and focus on working. I was so driven, I took off only once during that summer. After all that work, I had more then enough to buy my SD and I was still on pace for saving up for my retirement/other savings and I had a lot more cash in my checking account. I went on a really nice vacation after I bought my SD.

Basically, just be patient and the watch WILL be there. You don't have to work like a dog like me.

[Hiya Buddy]

Ok people saying go to college...I am in college already and studying my tuition is something that will be covered by my parents (they even told me so) and school is not 40+ grand a year for me seeing as I am resident of MA and going to UMASS Boston. So on average my parents save 30+ k a year since my tuition isn't gut wrenching and we don't have to deal with the headaches in loans. I was simply looking for a jeweler that did no interest when financing here in the US (sometimes what I may ask for is impossible..) and it would be under my mother's name if she were to purchase the watch.

@rr-nyc It's not diamond crusted I meant diamond dial not diamond bezel I think the gold in the watch is more than enough to create an appearance.

To the people who say sell my DJ II I would sell the steel and yellow with diamond dial and take that money to put towards the DD II, but is it easy to find the watch I would sell? How much would I get for DJ II it's got some scratches on the bracelet and bezel even though I've only owned it for 4 months. It still shines and is fairly new.

@dalip property aint pretty in my area of town and owning land here is tough. My parents bought the land for our business for 100k back in the 70's when they first came to America and now its worth at least 10 times that. So land is effin expensive here.

@FremStar nice to hear from you again on my post. Too bad you couldn't see Larry over the weekend. I would only make those investments after I get my DD II because IMO it is the watch of watches (I know there are others that could be way better in other people's eyes but for me ever since I tried it on in Hawaii I really wanted it so badly). Put it this way, if I get a DD II I would be all set with watches until I'm in my late 30's and have accrued enough money to get a Sub or something else after living my life. So its like a milestone for me. I hope to own it before 30 but I would never take on the subway, however my hoodie or jacket sleeves always cover up my watch so no one ever knows what the heck I'm wearing but knowing my mom, she would forbid me from wearing it on the subway.

Its expensive I know that, but I'm not asking for an bmw M3 with all the bells and whistles. I would rather have a DD II than a BMW because parking is headache in my city and most people take public transportation and in terms of the job I'm shooting for the subway leaves me right across the street from the hospital...

Ultimately, I would have to compare the RG to YG to see if it is indeed worth the extra 5 grand. My mom keeps reminding me that RG is a bit feminine and the YG is more classic. WG I don't want seeing as the DJ II I have with the WG bezel resembles the DD II from far away. @FremStar Larry actually took out the WG DD II and put it next to the DJ II I was buying and said "Tell me they don't look the same..."

So saving 5 grand would help if I didn't choose the RG, but I would have to see the RG in person to determine if its for me or if I'm better off with YG. I have been told that YG suits me better than WG or RG because of my complexion by reps from all the high end jewelers (H.Stern, Cartier, Bulgari, etc). So I might consider it in YG, but would it be better to get a vintage YG DD II or go all out and get the new DD II?

[daunwaun]

And this ladies and gentlemen is the reason the world is in a financial mess. Spending before saving, wanting more than we can afford and then going out and putting it on credit.

Honestly, where are your parents in all of this? It seems like your wanting these watches to make a statement? Why not take the $30,000 and put a down payment on a real estate investment that would pay you $1000 a month and then you could finance the watch by having an investment pay it off for you??

One of the major reasons we are in a financial mess is because they don't teach the principals of money in school, at any level...

*Sigh* I rest my case...

[paverman]

Originally Posted by daunwaun

And this ladies and gentlemen is the reason the world is in a financial mess. Spending before saving, wanting more than we can afford and then going out and putting it on credit.

Honestly, where are your parents in all of this? It seems like your wanting these watches to make a statement? Why not take the $30,000 and put a down payment on a real estate investment that would pay you $1000 a month and then you could finance the watch by having an investment pay it off for you??

One of the major reasons we are in a financial mess is because they don't teach the principals of money in school, at any level...

*Sigh* I rest my case...

Yeah, what he said.

[Hiya Buddy]

@Warren G that sounds tough I know what it is to work man. I work for my parents on the days off I have from school and even on vacations. We are open 365 days a year. 8 AM to 11:30 PM (the legal hours to sell alcohol in MA). I do it every day, sometimes we stay late to clean up, restock shelves, etc etc I am mentally conditioned to work long hours. My parents still have 8 years to go before they can retire, so my brother and I will help them run the business...

Put it this way, I'm up for school at 7 but probably go to bed at 3 AM the night before and I don't need several cups of coffee to get my ass in gear Whenever somebody goes out, somebody else covers for them. So while my mom and brother take a 2 week vacation I run the place with my dad and vice versa. It's hard work but it beats minimum wage when you can travel around the world and buy nice pieces of jewelry and nice clothing lol.

[Hiya Buddy]

@daunwaun the value of a dollar ha! the way I see it the green back is losing. Now the value of the GBP that's something we ought to look at. I don't see myself getting into real estate gig or anything until later in life. Sure at least a 1000 a month but what if I run into complications while trying to pay that mortgage or lets say I have a ton to do in repairs so people will actually want to live there. The 1000 month barely puts a dent in what I have to spend to fix it up. I know the old saying you gotta spend money to make money but that's more like trying to get out of a deep hole that slowly fills with water. Eventually, the hole will be full and I hope to swim to the top or float to the top but in the process I could drown. Its not a risk I'll take.

Comments like this are seriously off putting and showing that you take these forums to seriously. Lighten up and let me try to live my life to the best. You're one of the many that make it look miserable and fill me with lots of rage and hate. Seriously, any comments like these I say STFU to and just look the other way.

[FremStar]

@Hiya_Buddy there is no reason to explain yourself to anyone on this forum, most folks here are older than you and I combined, however, as I initially wrote you should hold off on that DD2 and use that cash for something more fruitful. Enjoy college, have fun, make mistakes that won't impeed your financial future or your health. Keep an open mind while posting here and don't take anything people say here offensive. Heck if you really want a Day Date I'll let you borrow my 18946 next time you're in NYC (I'm joking )

[GradyPhilpott]

I'm 62 and I live in a man-cave. Seriously.



Don't finance a watch.

Put the money in the bank and when you have enough cash, buy the watch.

However, reading your posts on this thread it seems like you have everything else in the world already figured out.

Deciding on a watch and financing it should be a cakewalk for a go-getter like you.

[Hiya Buddy]

LOL @FremStar thanks for that. I mean I've looked at stuff already. I don't want a car, I want a necklace like my dads (18K YG Cuban Link) but 12+ grand on your neck is easier to see than 30 grand on your wrist. The same applies to a 18K YG bracelet that I want and problem is, it can be seen right away as gold. The watch is the best because you can't tell if its real gold because so many people wear watches that look like they're made of gold. That's why the DD II is more practical than any ring, bracelet, or chain.

I'm not looking for any house because I would rather live in some sort of condo then think of buying a house when I'm in my late 30s. I don't want to live with my parents forever but that will save me money. Again, if I had the DD II I'd pretty much be all set with blowing lots of cash until I think its time to buy a house. Ultimately my goal to buy a house is to take a stroll to then bank, fill up a sack with withdrawal money, and drop that sack of cash in front of the person selling me the house, to make a statement Realistically speaking, however, I would get a mortgage of some sort but I hope it isn't for 30 years

[Aeternitas]

Originally Posted by daunwaun

And this ladies and gentlemen is the reason the world is in a financial mess. Spending before saving, wanting more than we can afford and then going out and putting it on credit.

Honestly, where are your parents in all of this? It seems like your wanting these watches to make a statement? Why not take the $30,000 and put a down payment on a real estate investment that would pay you $1000 a month and then you could finance the watch by having an investment pay it off for you??

One of the major reasons we are in a financial mess is because they don't teach the principals of money in school, at any level...

*Sigh* I rest my case...

X2


I feel like I'm missing something here. For one thing, is the Sub going to be financed as well? If not, who's going to actually be the one spending money on the Sub? The only reason I say this is because it sounds like the Mom was the one who bought the current DJIIs. If this is the same deal with the Submariner, than I guess that's the only option if the DDII is off the table. When it's OPM, you take what you can get.

Second, how are you going to actually pay for this? You say that you can't get 37 grand and only have cash on hand of 15, which leaves a balance of $22,000. With interest completely out of the picture, you're looking at about a $611 monthly payment for the 36 month time frame. I don't know if you're a full-time student, but most students I know don't have enough disposable income to spend $611 bucks per month on a luxury item.You mention that you work whenever you can, but when you're considering long-term financing, you have to think more, well, long-term. Where do you plan on being 3 years from now when you pay off the debt?

Also, you mention that this is going to under your mother's name if you purchase it. I guess my next question would be regarding who exactly it is we're asking the store to finance here? If the account is going to be in your mother's name, I'm confused as to why you have to go around looking for long term financing. It seems she's aware that you want this item, so if this has to be done at all, why not just have her purchase it and arrange to pay her back somehow? Either I'm missing something here or this sounds like a potential powder keg waiting to go off.

[toph]

1) Do not finance a watch for $15000. You have plenty of nice valuable watches, no need to get $20000 in debt.

2) i agree with you on property a bit, it is a liability. I have actually owned three- ( not at same time) 2 outright in the UK and having sold my last UK property I have now bought one in Sydney. It is Mortgaged of course because i do not joke when i say you cannot get ANY 2 bedroom Property with 20km of the Sydney city ( unit , apartment ) for under half a million US MINIMUM. Now i know in Sydney i will never lose money on a property and everyone has to start somewhere UNLESS you want to end up a 40 year old in your mums basement.
I am now 27 and i have a few watches.. a lot less then i woudl like;) but they woudl be the first things to go if i really needed them too. I could not justify $5000, never mind $35000 on a watch at the moment for various reasons. Yet if i wanted to, i do have the money.
I think in a few years you will realise that having spent $15,000 and financed 20,000 would be a big mistake.
Just think, add $15000 to whatever else you make and can save until gradutation. You might then get offered a great job and be able to afford a deposit on a house/ apartment. Now a single 24 year old with his own house with 2 great rolex watches is a lot smarter person than one with an extra $35000 gold rolex.

[Hiya Buddy]

@Aeternitas Mom pays for it. Because she does this, I am going to take her on vacations. And my brother and I plan to pay her back with a Rolex and other fine pieces of jewelry that she really wants. She and my dad have done lots for us and we're gonna pay them back when we're both on our own.

So the no interest financing is a good thing to consider especially when we can put down half the price of the watch itself and pay off the rest in increments.

[FremStar]

@Hiya_Buddy you sound like my buddy Ritchie (ObscureLight), his folks own a buisness he helps operate, just like yourself he came in big on TRF purchasing a 14060, 116261, and 118238 within a few months, it appears like your mind is already made up. If your parents are willing to finance this purchase for you then who are we to state otherwise. If you were sitting in my office I would say you're nuts but on a public forum like this it's all fair game! I don't want to sound like a broken record, however, put the cash into something more meaningful, if not I look forward to seeing your Incoming thread As an FYI to you, I was given the opportunity by an AD to wear the Chocolate dial Rose DD2 for a day, however, did not bite on it because quite frankly the piece was not what I expected in 41mm piece. If you finance that piece and decide you don't like it your Mom will be stuck with the MSRP note to pay while you lose cash in trying to find a buyer!

[ktmd]

Originally Posted by daunwaun

And this ladies and gentlemen is the reason the world is in a financial mess. Spending before saving, wanting more than we can afford and then going out and putting it on credit.

Yes