My Kids..... My Watches........

[Tools]

It's no secret... I have two daughters... They were over yesterday to swim, play, eat my food and drink my wine.... Yes...It is a pleasure..

I was wearing the Daytona......... both tried it on and loved it..

Then they took me by surprise...

.."Dad.... What are we supposed to do with all those watches you have when you're gone ?"

Well, after quickly taking my one foot out of the already dug grave... I blustered..."Well, they are probably worth quite a bit I suppose... you could split them up and decide for yourselves"

.. "But Dad... we don't really know that much about them...where you got them, what they come with because all the boxes and stuff is in the bottom of the safe and the watches are all in boxes with no labels or anything.... Don't you have a file someplace that lists each one, what it might be worth, and who you want it to go to... or what we should do with it..." Amy said: "I'll take this Daytona though.... Chris can have all those with the funny colored rings around the outside..."

So here I sit... In a quandary... I've truly tried to cut back..Honest... I only have about 30 now that's not so many, is it.. Surely a couple of college educated girls can sort this stuff out when I'm gone...can't they... I mean, it's not like I'm going any place soon....

There could be more by that time...


Do you have a Plan ????? ................. I mean a real Plan ?

[yemenmocha]

I'm distributing mine among family members who have given me a good faith indication that they would wear them rather than pawn them off. Don't be afraid to give most to family, and some to close friends as something to remember you by.

[karmatp]

In left all my watches to you Larry if something happens to me so it you want to return the favor, I would appreciate it.

[Tools]

Originally Posted by karmatp

In left all my watches to you Larry if something happens to me so it you want to return the favor, I would appreciate it.

Hmmmmmmmmmmm...

I can feel that foot being slowly pulled back toward the freshly dug pit........

[greekbum]

Larry,
To start thinking about a plan now is not a bad idea.And a watch collection should fall under your financial/estate planning.Over the years I have had clients that had Big Art,Car,Watch,Etc Collections.Some gave them to family and friends who they thought would appreciate them.Most often the majority of the collection is sold or auctioned and the money goes to the estate.If you go this route try and update your records yearly on how and by whom you want this handled by in order to try and get the most out of your watches for your loved ones.

PS: FOOD FOR THOUGHT Do you think the lady that reads the ad in the Sunday paper that says I Buy Watches and sells her deceased husbands watches for peanuts knew any better? The ad says they Pay Top Dollar and they showed her a price sheet and gave a little more.She even has the receipt for the daytona her husband bought in 1971 and she is getting a little more than that. A good deal she thinks I had a friend who worked for 1 of these outfits and he told me this scenario sadly happens every day believe it or not. Have a plan is my 2 cents

[redshirt1957]

I already have my food tested for anti-freeze, God help me if the kids and wife thought I was going to leave them with something of value.

[vh_bu98]

No kids so no plans. Oddly I was thinking about the situation yesterday. What would happen to our stuff if both my wife and I got into an accident and we both died.

[DRAWTOOL]

I'm taking mine with me.

[Numismatist]

I'm not going to die...

[rajurama]

That really made me thinking I guess its wise to create a catalog or sort of a history record of each and every watch from our collection with a brief description along with a photo and the estimated value of the watch.

[AWATCH]

I have been thinking along those lines myself, what to do with all the stuff, some really hard decisions to make. All kidding aside the decisions have to made.

[Brushpup]

Larry,

I have a close friend a good deal older than you who is a collector. He has an extensive collection of Lugers, 1911, Carbines etc.

He has kept a log and tags each item with a value incase something happens to him for his families sake. It may not be a great comparison, but something similar for yours might be food for thought.

If no one wants them, I might take some of those funny colored ones.

[cbehnke1672]

i have four girls and they will each get one of my watches that is special to them for one reason or another. after the special one they will get, they can decide what to do with the rest, but i will leave them with information about each and how to value them properly.

[train-time]

Interesting dilemma Larry. A few years back I was involved in an estate where there was a fairly substantial watch collection. It's all in the hands of the executor(s) and if there are no special bequests, then the watches are general assets of the estate that need to be appraised, sold and will be distributed as per the will. I can tell you, this is where the "hanky-panky" begins, especially if the executor is has a beneficial interest in the estate. Best advice is to pick an independant party to serve as executor.

Regarding the watches, keep the respective boxes, papers, cards, booklets, etc together and label which ones goes with which watch.

[deserted]

Well the estate has already been prepared , my son will get my entire collection of rolex watches, he will surley appreciate it.

[JJ Irani]

Originally Posted by Tools

It's no secret... I have two daughters... They were over yesterday to swim, play, eat my food and drink my wine.... Yes...It is a pleasure..

I was wearing the Daytona......... both tried it on and loved it..

Then they took me by surprise...

.."Dad.... What are we supposed to do with all those watches you have when you're gone ?"

Well, after quickly taking my one foot out of the already dug grave... I blustered..."Well, they are probably worth quite a bit I suppose... you could split them up and decide for yourselves"

.. "But Dad... we don't really know that much about them...where you got them, what they come with because all the boxes and stuff is in the bottom of the safe and the watches are all in boxes with no labels or anything.... Don't you have a file someplace that lists each one, what it might be worth, and who you want it to go to... or what we should do with it..." Amy said: "I'll take this Daytona though.... Chris can have all those with the funny colored rings around the outside..."

So here I sit... In a quandary... I've truly tried to cut back..Honest... I only have about 30 now that's not so many, is it.. Surely a couple of college educated girls can sort this stuff out when I'm gone...can't they... I mean, it's not like I'm going any place soon....

There could be more by that time...


Do you have a Plan ????? ................. I mean a real Plan ?

You're still a young fella, Larry......so why worry from now?

However, as you get older and older, you might want to consider disposing off those that you hardly ever wear and keep the cash aside for the girls' education.

Just hang on to the ones they really love and get rid off the rest......of course, that's when you get older......much older.......much, much older!!!

Just my 2 cents.

Cheers - JJ

[Armand]

Originally Posted by Numismatist

I'm not going to die...

good plan.

and I also want a Roulette wheel ( on a Rolex, I am no Gambler ( at the wheel, business is different ))



Hermann

[valentine]

Hey Larry...any pics of them wearing the daytona?? Im a nice single guy! and..IF I marry one of them..Ill help them educate themselves all about each one so there will be no worries!

(Please note, Larry....that after posting this I immediately RAN to a safe place in my house..and will stay there until I get the all clear)

[The GMT Kid]

I don't have any kids, just a niece and nephew who don't wear watches. As the executor for my dad's estate (he passed last year) this has been on my mind.

[Deep Sea]

It all goes to my wife. She can figure out who gets what.

If she goes before me, then to plan B.

(Note to self...generate plan B.)

[barista_krystal]

I cannot stand people that get buried with watches and rings. You cannot use it wile your in the ground! Give it to someone you know that loves you and will think of you wile wearing it. We know that we are all going to croke someday.
My grandpa died and I have nothing to remember him by. My uncle had a better lawyer than my mother and he took it all. It was a nightmare. I think of him and wish I had something, anything.
OK, I will step off my soap box.

[SLS]

Larry,
I fellow collector that I have gotten to know asked me if he could put me in his will as a watch consultant in case something were to happen to him, of course I agreed to do this. The last thing he wanted was for his wife or kids to be taken advantage of when he passed. When we update our will, I am going ask him if I can do the same. So if there is someone you trust enough to help your family out, you may want to contact them and have them added into your will.
Scott

[Sperry]

Yes, one can have a plan without being morbid.
Usually a loved one will benefit from written instructions, since they probably don't have a clue.
And if they did know what to do, you'd know it by now, and wouldn't bother with the instructions.

Watch A: Purchased 1979 $450, worth $9000 in 2008. Call Max @ 555-5555
Watch B: Gift, 2002. Sentimental, not worth more than $100.
blah blah blah blah blah . . . you get the picture.

I did the same thing [The List] with a collection of those items we don't discuss on this forum,
but ended up selling most off this last year to buy watches.

[redshirt1957]

Originally Posted by barista_krystal

I cannot stand people that get buried with watches and rings. You cannot use it wile your in the ground! Give it to someone you know that loves you and will think of you wile wearing it. We know that we are all going to croke someday.
My grandpa died and I have nothing to remember him by. My uncle had a better lawyer than my mother and he took it all. It was a nightmare. I think of him and wish I had something, anything.
OK, I will step off my soap box.

Hey, nothing like a heart felt opinion. For me, memories mean a lot more than material things. So maybe, you are saying the material items help trigger the memories. I can understand that.

[redshirt1957]

I am giving all my watches to the Moderators when I pass.

[Thrasher]

Have a will, make sure you go over it with your kids, and make sure they know where it is. You don't decide the day you leave, and you don't know when it is.

My father past this past November, and we couldn't find the will. It gets expensive when the squabling starts- and it will without a will.

[SDDS]

dont worry u can dispose them to this forum we will be glad..

[Rockrolex]

Originally Posted by redshirt1957

I am giving all my watches to the Moderators when I pass.

Guido will be on your doorstep tomorrow, Bubba.

[barista_krystal]

As an artist I like to surround myself with things ( memories )
Almost everything I own has it's own story. From my furniture to even my forks and spoons.
They trigger thoughts of better times and worse times.


Thanks Redshirt!

[Tools]

Originally Posted by redshirt1957

I am giving all my watches to the Moderators when I pass.

There is no reason to wait that long......... You might run over yourself with a SeaDoo tomorrow.......... better take care of business today.......