Does it seem foolish?

[zapokee]

Not foolish if you have the resources and you know you can sell the watch all day to break even or make a profit.

As per the previous posts, you're not spending - you're just putting your funds into a different (and more enjoyable) vehicle. You'd almost be foolish not to, if you know what you're doing.

[Styles Bitchley]

Turning this question on its head, is it foolish to hold onto a $15k or $30k watch when you bought it for retail in the ‘60s or ‘70s or inherited it and you earn an average income? Of course it depends on the enjoyment you get...but there’s a point where that stops making sense.

[spoilsofwar01]

Yes! definitely foolish....... Give it to me instead

[ravenhome777]

Turning this question on its head again. Is it foolish to not purchase a 15k Rolex watch and hold onto fiat greenbacks instead? Maybe we shouldn't go there. ��

[Handey0465]

Originally Posted by ravenhome777

Turning this question on its head again. Is it foolish to not purchase a 15k Rolex watch and hold onto fiat greenbacks instead? Maybe we shouldn't go there. ��

I love it...You hit the nail on the head..

Let's be honest....

Which one will crash first? Rolex or the dollar?

[ravenhome777]

Originally Posted by Handey0465

I love it...You hit the nail on the head..

Let's be honest....

Which one will crash first? Rolex or the dollar?

Valid question.

Unfortunately I think it might be the latter. To bad the US govt didn't take a page from Wildorf's playbook. I like the sound of zero debt.

[037]

Maybe I missed it in an earlier post but what watch are we talking about here?

Or are you just asking in general?

[dexvd]

I think about this a lot, my girlfriend and I just finished university 3 and 1/2 years ago, combined we had 14 years worth of student debt, we paid it off in 2 and 1/2 years by being fairly conscious with our spending. Now as we save and invest, the idea of throwing 15k on a watch or several watches seems silly but its also good to have a passion, a friend of mine has several motorcycles and a seadoo.

I think something that put it into perspective for me strangely was I believe the Rolls Royce Cullinan review on Car & Driver (if I recall correctly) that mentioned the list price of $400k but also that the average owner has a net worth of $4 million. I considered that, my own car which we consider sensible, is roughly 10% of our household income (paid for of course). Thinking about that puts things into perspective for me, it depends on where you are at, a $5000 bag for someone who makes $500k is meaningless but for someone making $50k a year it may seem ridiculous.

[motoikkyu]

This incarnation can only take you so far. It's nice to pile up money (and possessions), but after the game, both the king and the pawn go back into the same box. People have different priorities. My career made it impossible for me to take significant time off for vacations for nearly 20 years, only long and extra-long weekends from time to time. So, I got some bitchin' watches with the vacation money. I know I don't get to keep them when it's time for the dirt-nap, but I've had pleasure in seeking, and bargaining, and improving/restoring. The best part has been the people involved with the watch-madness. People spend $5k on vacations alla time, so a $15k watch is three missed vacations, if you want to look at it that way.

[exador]

Originally Posted by Tools

What I can't see is spending almost 4 million bucks on a green Mustang that was used for an hour in a movie decades ago.

Beats spending 18 million on an ugly watch that the salad dressing guy once wore

[wear4l]

Only if you got misplaced prioritize.

[Astro_Train]

this thread is ridiculous.. of course is not...

ask yourself.. is it ridiculous to spend 15k on an engagement ring? Go ask your significant other..

[kalajdji]

How can i add a picture so u can help me find my watch year and model ... im new in the forum

[tekno]

Rolex has always been expensive, a new sports model is $10k. Those are not as rare as the older watches. The right vintage watch is money in the bank.
You need to buy want YOU want because at the end of the day it’s your watch... If you have kids one day it would be theirs. I would take a bullet for my dads Datejust. If my nephew doesn’t turn out to be a turd maybe I’ll leave him one.

If you buy carefully and use the resources/collective knowledge you have (this forum) then is is a lot less foolish.

Think of the few things you could sell immediately should you need to... Rolex, guns, gold...



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[EEpro]

Originally Posted by exador

Beats spending 18 million on an ugly watch that the salad dressing guy once wore

That's a tax avoidance buy and makes a ton of sense as the buyer will pocket 30+% by keeping it from the IRS.

[subtona]

It would be foolish if you chose to sacrifice other priorities (food, home, family needs)
if not then f it and enjoy.

[Token74]

It’s utter lunacy and only a fool would do it.


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[Claven2]

Originally Posted by ravenhome777

It probably costs 100 dollars in materials. The intellectual property might cost 500 when spanned across production numbers. We need to factor in employee pay, and the facility, so maybe 1k? Why are we paying 14k extra?

In terms of raw materials cost, that varies GREATLY by model. Perhaps there is $100 or so in a sports watch, but far more in anything with PM content. There is over $100 in gold in a typical DJ fluted bezel, for example.

The IP to develop new types of ceramics or new movements (see the 3200 series) is likely higher than you estimate. Now factor in how many large and modern european facilities Rolex has currently. At least 4 large plants that I know of. Then then there are all the boutiques they own, employees, advertising and distribution costs. Much more than $1K per watch, I'll wager.

The profit margin is high, but it's not 1500% like you claim. Probably more like 100-200% per watch.

Now ask what they do with the money. Rolex is NOT a publicly traded company. The Wilsdorf foundation uses all the money for investment in the brand (i.e. improving vertical integration, like when they bought beyeler), R&D, etc. and their charitable works - which aren't publicized, but according to several sources, a large portion goes to a scholarship endowment for training watchmakers to keep the watchmaking industry viable.

Bob's Watches did a reasonably good job explaining it all here:

https://www.bobswatches.com/rolex-bl...on-profit.html

[RHIII]

if you can’t afford to - absolutely.


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[FTX I]

Originally Posted by ravenhome777

Does it seem foolish to spend 15k on a watch?

It is if you can get the same watch for 10k.

[cardiel]

I couldn't relax with 15K strapped to my wrist.........also there is the matter of that darn mortgage to be paid....... Are we saying that everyone here only buys watches when they are dept free? I doubt it.....

[zapokee]

Originally Posted by cardiel

I couldn't relax with 15K strapped to my wrist.

That's half the fun. Nobody knows, and if they know, they're one of us.

[Dan S]

Originally Posted by cardiel

I couldn't relax with 15K strapped to my wrist.

It's a watch ... you would get accustomed to it.

[EEpro]

Originally Posted by cardiel

I couldn't relax with 15K strapped to my wrist.........also there is the matter of that darn mortgage to be paid....... Are we saying that everyone here only buys watches when they are dept free? I doubt it.....

No debts except for a 15 year mortgage. But you have to enjoy life too. I don't want to start rewarding myself only in retirement.

[ghcpa9]

Originally Posted by locutus49

Because it is an investment. Yes an investment. An investment in human happiness.

I would like to inform you that I am stealing this line for use with my wife regarding my recent Rolex purchase. Thank you.

[motoikkyu]

I had to share my personal experience with cardiel. I never felt comfortable wearing a watch over $9k. For some odd reason, my personal limit. Bought my Zenith Daytona at 8.5, wearing it, very happy, etc. Darn thing starts rising in value! Not why I bought it, really wanted it, always wanted one. Blasted thing keeps going up in resale. But, I'm proud to say, I keep wearing it. I loved it when no one cared about the Zenith models, I still love it, and it will be one of the last ones sold when it comes time to divest. I can honestly say I couldn't afford one today, debts and obligations. It's entirely possible that my experience isn't that unique. After all, the rise in 5513 values was quite sudden. This was a $3500 watch for a number of years, there are thousands and thousands of them out there (maybe millions?), still not sure why so crazy valuable today.

[ravenhome777]

Do you have pics of the Zenith?

...

One other thing I was thinking about yesterday is if you consider buying Rolex watches similar to buying stock in Rolex as a company, you are essentially buying stock of a company that is "private". That's kind of a rare opportunity. I inherently dislike the idea of public companies. I work for one. Before it went public (around 1980s) I heard that it was a really cool place to work. People talk about it like it was legendary. I wasn't around to experience it, but I believe them. They say after it went public, it all started to go down hill. I see "going public" as selling out. You essentially got greedy and traded complete control of your company for money and loss of control. I have a lot more respect for companies that choose to remain private and deny their intentions towards greed. They are saying they prefer control of the company to greed for money and growth.

That's something I respect about Rolex and Hans. He wanted to keep the company private to maintain control of what was produced and to maintain quality. I mean, I guess it's not technically a company at this point. It's a foundation. I'm not sure if that is one and the same. But I respect Rolex for remaining private and for having no debt. That's rock solid in my book.

Yet, we still get to buy stock in a private company buy purchasing these watches. Their stock goes up and down based on how Rolex performs as a company, but yet the company remains private. I like this business strategy.

[BrazenC5]

Originally Posted by cardiel

I couldn't relax with 15K strapped to my wrist.........also there is the matter of that darn mortgage to be paid....... Are we saying that everyone here only buys watches when they are dept free? I doubt it.....

Insurance takes the nerves away.

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[ravenhome777]

That's a good idea. Do you need special watch insurance?

Geico cover that type of thing?

[1watch]

Originally Posted by wappinghigh

Not if it got me waking up to someone who never looks like Cindy Crawford.....

What’s that supposed to mean? Makes no sense to me


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