Buying my first Rolex?

[ggrolex]

Hey everyone,

I've been looking at a VINTAGE Rolex DJ (under 4k) for a long time. Im young and a college student but i absolutely love it. Its expensive and some would argue that at this age its not wise to invest in a luxury item like this and spend most of my savings on it. Im not thinking of purchasing it to necessarily celebrate a milestone but rather to be a companion during my hard times. Something that I can look at everyday at smile and cherish. All my friends and family say not to even think about buying it but I cant stop thinking about it. Maybe its the hope that this material item will help change me (even if this sounds ridiculous but is part of my rationalization). I know I will cherish it and i will keep it forever.

Again, its a big purchase, but it wouldn't necessarily change my financial situation tremendously in my college years.

Im looking for any advice you could give on whether i should do it or not or any experiences you had when buying a rolex when it maybe wasnt financially wise but you just loved it so much.

MANY THANKS!!!!

[Doood]

I say buy it. You have plenty of time to make money. You will look back fondly in 40 years and have a good laugh. You can always make more money. Act boldly and unseen forces will come to your aid. Drive fast and take chances.

Er…I would probably go with a BLNR on oyster, though, but get what you like and never settle.

[Tuzz313]

My rule is if I can buy it twice and it not impact my financial picture than I go for it. I know I couldn’t get my hands on that kind of money in college but at the end of the day its your money but consider opportunity cost in your decision is my only advice.


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[Gearjockey]

I was more into stereos, motorcycles, skiing, parties and college girls when I was a university student.
I dunno? Maybe things have changed.

If you like it that much then why not.

[TimeAZ]

A big purchase for a college student! Maybe save it as a milestone when you graduate? Something for you to look forward to, and it will have even more meaning as a memento of your achievement.

[KatGirl]

Life is short! Buy it!

Kat


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[Guppydriver]

If you really want to save money...

Consider buying the watch and dropping the college.



(kidding.... kind of)

[996marty]

I’m not sure telling you to buy it is the smartest move especially if money is tight. All I would say is if you think it won’t impact you too much then buy it especially as the market is a little soft.But if you don’t it’s not the end of the world you will always find something else because buying one watch sometimes leads to buying another and another.

[Mr Ben]

As much as I value the advice of people on this forum, I’d listen to your friends and family as they know your position and we don’t.

The arguments against are easy. To turn around some of your own words, it’s not an investment, it won’t support you in hard times (short of giving you something to pawn) and it won’t change you as a person (or at least it shouldn’t.) There were also plenty times early in my career that $4k extra cash would have been more help to me than a vintage Rolex.

Having said that, I’m sure I blew $4k in my student days on beer so there are worse ways to spend it when young and carefree…

[Zyfon]

I've had many memories of the places I've been and the watches I've worn. The love given and time spent are truly priceless. Having something you'll still own years from now is worth it IMO.

[geoach]

buy it now today and enjoy it.............tomorrow is not promised.

[brandrea]

If you buy it, will you feel a sense of guilt or … should I have done this? A lingering feeling?

It’s easy for us to enable you, but we don’t know your situation like your friends and family do. Those are my initial thoughts

[In-N-Out]

If you are at Harvard or MIT and honestly feel like you have a good career ahead, do it no problem. However, if you don’t see good career growth right after graduating or have alot of student loans, absolutely not. Focus on spending that money on taking nice trips during spring break or in the summer. My biggest regret in my college years was not going to Cancun or Miami with a lot of my friends. You’ll have an opportunity to buy a nicer watch later on in life. Focus on the experiences while you are young.

If you do want a “companion” I think some used MB or Namiki fountain pens for less than $1000 is a better purchase. It’s actually functional as a college student, good conversation starter with the nerdy ladies at the library, and not douchey at all like a Rolex at your age.

[travisb]

If it brings you only happiness and no guilt or regret, then go for it. We only live once and we don't know how long that will be.

[1William]

Only you know your financial position and how this will impact you. One lesson though is when you ask for advice be prepared sometimes to hear what you do not want to hear. It would not matter if you had a lot of money or a little if the person you asked does not value the expense then you will get a no. One of the challenges with growing up, and as an adult, is to be able to filter life experience, advice and desire. There is no reason that you have shared with us that would prohibit you from buying the watch if you want it. Don't get bogged down in indecision or self doubt. If you want it, buy it and enjoy it. If other criticize you for it, then so be it. Maybe they should mind their own business. I would rather have the watch then spend my money incrementally on other items. I would buy the watch, enjoy it and go on with it. Good luck and let us know what you decide.

[Lightsped]

Depends on your financial status. I have a best friend who just turned 21 years old buy an older Salmon dial DJ in Monte Carlo Monaco during our trip in February. I told him there are probably better ways to spend money, but there are also worse ways to spend money. He paid his credit card bill off in two months. I am happy that he was able to buy his first Rolex at 20 years old. Better to spend the money on a nice watch with a story than parties, alcohol, drugs, etc....

[doc212121]

Originally Posted by geoach

buy it now today and enjoy it.............tomorrow is not promised.

You are right.. Tomorrow is not promised

[Oxfordian]

Lots of advice to buy, lots of advice to wait, both camps are right in their own way.

What to do?

Only you know what is the right thing to do, we can offer advice but in reality this has to be your first big life decision.

[garyk]

Originally Posted by KatGirl

Life is short! Buy it!

Kat


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This !!!

[georgew]

Originally Posted by Mr Ben

As much as I value the advice of people on this forum, I’d listen to your friends and family as they know your position and we don’t.

The arguments against are easy. To turn around some of your own words, it’s not an investment, it won’t support you in hard times (short of giving you something to pawn) and it won’t change you as a person (or at least it shouldn’t.) There were also plenty times early in my career that $4k extra cash would have been more help to me than a vintage Rolex.

Having said that, I’m sure I blew $4k in my student days on beer so there are worse ways to spend it when young and carefree…

While I understand the "live now" approach - I'm with Mr. Ben on this. As others have said, set a future milestone goal (like graduation?) and work to earn it. That sense of accomplishment will make it even more special. And this comment is a little troubling to me - in your own words: "Maybe its the hope that this material item will help change me (even if this sounds ridiculous but is part of my rationalization)". If you don;t already have a sense of who you are, buying a rolex won;t change that (my opinion anyway). But, it's your money afterall.

[TruthBalance]

Love is short. By all means, go for it!

[shalashaska]

I’m not a fan of getting a watch to commemorate a milestone. If you like it, can afford it responsibly and live to regret the decision (if you end up not liking it), then get it. It’s unusual to spend on something expensive like this while in school, but hey most of us here have spent a lot cumulatively on stuff that aren’t necessary at all. You do you and good luck!


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[White Collar Boy]

I think you should buy it, but only for the simple pleasure, not for anything aspirational or romantic, like the idea of suddenly becoming a better version of yourself, or having one watch for life, or to impress others (because, weirdly, no one will even notice it, except maybe a couple of your friends who are already into watches). You might even sell it later, to go towards a different watch. All part of the fun.

Buy the seller. Ask any questions about condition in the Vintage section of this forum before pulling the trigger.

Good luck!