Insurance Replacement

[lovecartier]

Hey all,

I had a great Datejust that I got a year and a half ago ... late 90s U serial, 36mm Steel & Gold w/ fluted bezel - champagne diamond dial, jubilee. It grew legs and walked away a week ago - I do not know how or when but it's gone.

Fortunately I had it insured for replacement value, which Allstate determined to be $10,097.56 (retail is $10,950). Since this is buying me a watch that's almost 15 years newer, I'm relatively happy, although sad and a bit embarrassed to have lost the other one.

Allstate will only write a check to my name & the name of the jeweler, which will be on the same check. Therefore I must spend it all in one place.

I found a local jeweler who was willing to give me the Steel & Gold Datejust 36mm w/ MOP dial and romans (jubilee) brand new for the price I got from Allstate. They would also have given me my same model (champagne diamond dial) as an option but I sort of wanted the MOP because I figured the diamonds on that piece aren't actually worth that much and the retail difference is only $200.

I am a realtor so I want a watch I can wear daily that is classy and can be dressy or casual ... thought the DJ was a good option again for that reason even though the sub looked pretty cool on me. Do you guys think I'm making a mistake if my budget is 10,100 in one place, to get the same watch with a different dial but 15 years newer? As I see it, I'm certainly no worse off.

[Speed]

If you like the watch - get it. You sound like you know how / when you want to wear it.

I say stay away from diamonds on a DJ. Really cheapens the look in my opinion. Agree that diamonds on a watch are never top quality - but then they don't have to be.

[lovecartier]

I think you may be right about the diamonds on the DJ ... if they aren't on the bezel too, they are so minimal. I just don't know about MOP on a dude. I have never had it before. Not that I care about those things that much - here's what the new one will look like http://www.limitedwatches.net/IMAGES...16223fact1.jpg

PS: Thanks.

[girltime]

Datejust to me is a great all around watch. The new Datejust II are awesome.

Try them all and see which one you can't take off. I'm partial to the Two Tone Sub.

Good luck.

[lovecartier]

I love the steel sub but for some reason the two-tone doesn't do it for me. It is, however, within the budget. The DJ II is gorgeous but I have to have jubilee on a DJ. Have to!

Trying to decide if maybe to go with a black dial w/ the diamonds ... or a steel one with diamond bezel? Or just stick with my light MOP plan. "Which $11,000 watch should I get" is definitely the BEST problem I've ever had ... I'm clearly leading a charmed life.

[sellingblackbird]

If it was me I would skip the MOP and diamonds. But it isn't me so what ever speaks to you is the one to go with. And yeah, what a great problem to have.

[lovecartier]

Originally Posted by sellingblackbird

If it was me I would skip the MOP and diamonds. But it isn't me so what ever speaks to you is the one to go with. And yeah, what a great problem to have.

You know, I totally would ... but the problem is that I must spend the whole check at the jeweler I designated and there's nothing there worth like $1,500 that I'd desperately want to have. Does that make sense?

[lovecartier]

Hey - also ... the new DJ bracelet does not stretch b/c of the solid links, yes?

[MortgageGuy]

Originally Posted by lovecartier

You know, I totally would ... but the problem is that I must spend the whole check at the jeweler I designated and there's nothing there worth like $1,500 that I'd desperately want to have. Does that make sense?

I would say if your having second thoughts...there is your answer. Perhaps it is time for something new/different??? How about getting the Sub/GMT or something in the sport line this time, it can go casual or with a suit...Perhaps even a platty ym Anyway depending on the price you would have a "credit" at the jeweler and can buy something nice for yourself in the future or perhaps something now for a significant other???

Just a thought

[mcneguy]

What is interesting here is that your insurance company writes the check to you and some jeweler. Unless I am mistaken, you are under no obligation to replace the watch. I just find it odd.

[MortgageGuy]

Originally Posted by mcneguy

What is interesting here is that your insurance company writes the check to you and some jeweler. Unless I am mistaken, you are under no obligation to replace the watch. I just find it odd.

Thats a great point, why is this

[TKB]

Get the gmc IIc or a ss YM.

[lovecartier]

Apparently, they are under no obligation to give me cash ... the way the policy is written they must "replace" it with "like kind and quality" (technically they don't even have to replace it with the same thing). They're giving me a fair settlement and I feel I'm no worse off than with a watch that was originally worth much less. Would I like to buy a $6k watch and pocket the rest? Yes ... but I can't in this case.

THESE ARE MY FOUR MAIN CONTENDERS - please help me! 21 y/o guy, real estate agent ... wears a lot of gold otherwise (Cartier Love collection) ... also my wardrobe is mostly dark colors. This is so tough (but again, best problem ever).

[MortgageGuy]

Originally Posted by lovecartier

Apparently, they are under no obligation to give me cash ... the way the policy is written they must "replace" it with "like kind and quality" (technically they don't even have to replace it with the same thing). They're giving me a fair settlement and I feel I'm no worse off than with a watch that was originally worth much less. Would I like to buy a $6k watch and pocket the rest? Yes ... but I can't in this case.

THESE ARE MY FOUR MAIN CONTENDERS - please help me! 21 y/o guy, real estate agent ... wears a lot of gold otherwise (Cartier Love collection) ... also my wardrobe is mostly dark colors. This is so tough (but again, best problem ever).

For me it would be #1 or #2 as I am not a TT fan...then again I would not wear a watch with a diamond bezel either so I guess I am of no help

[JasoninDenver]

Originally Posted by MortgageGuy

Thats a great point, why is this

Because most replacement policies have a depreciation clause that allows them to depreciate to fair market value of the old piece if you do not replace it with a new one.

I ran into this when my mountain bike was stolen. It was 2 years old and probably had a market value of $2,500.00 but cost about $4,500.00 new. They cut me one check for $2,500.00 right away and then another one for the balance when I proved via receipts that I spent the $4,500.00 on the new bike.

[JasoninDenver]

I am looking for a diamond MOP dialed DJ - for my wife.

I do not see too many men wearing these watches FWIW.

But it is only your opinion that matters.

I LOVE my Manolo Blahnick pumps.

[lovecartier]

You know what, I erred - that third one shouldn't have that diamond bezel. Let me update.

The original third one is now 4 - the original 4th one is now 3. Sorry guys. Please use descriptions now!

[TKB]

1 or 2. 1 for that classic clean look.

[Lion]

I'm sorry to hear you have lost your watch but with the insurance money at least you can buy yourself a new one...as for the MOP dial I have two friends who own watches with this dial and they look great!!!

[z32turbo]

If your happy GO FOR IT!!!!

[wuzzzer]

Just a couple insurance/banking/check facts that you might know, but if not, here they are:

If the check simply states your name and also states the name of your Jeweler you can sign the check and deposit it into your account without the Jeweler having to have anything to do with the money. Legally if two names are present on a check without the word 'AND' or the '&' symbol between the two names, it is assumed that the word 'OR' is between the two names/parties and either party can endorse the check and use the funds but it is not required for both to sign.

Also, you are free to choose whomever you decide to replace the watch through. Insurance companies will often try to persuade you to go through a company they recommend but legally you have the right to make the final decision.

[lovecartier]

Originally Posted by wuzzzer

Just a couple insurance/banking/check facts that you might know, but if not, here they are:

If the check simply states your name and also states the name of your Jeweler you can sign the check and deposit it into your account without the Jeweler having to have anything to do with the money. Legally if two names are present on a check without the word 'AND' or the '&' symbol between the two names, it is assumed that the word 'OR' is between the two names/parties.

Also, you are free to choose whomever you decide to replace the watch through. Insurance companies will often try to persuade you to go through a company they recommend but legally you have the right to make the final decision.

Thanks so much for that information. I will see what the check says when it gets here ... I have a feeling they are doing the "&" thing, though. Appreciate it!

[zeuloa]

Originally Posted by lovecartier

... wears a lot of gold otherwise (Cartier Love collection) ....

I don't think we can give you the kind of help you need here.....

If going for TT, I would go for SS and Everose gold with black concentric dial and smooth bezel - best TT combo in my opinion!

[lovecartier]

Originally Posted by zeuloa

I don't think we can give you the kind of help you need here.....

If going for TT, I would go for SS and Everose gold with black concentric dial and smooth bezel - best TT combo in my opinion!

At least you all have a good sense of humor on here! Everose will wash out on my skin and I like fluted bezels a lot ... otherwise, not a bad idea lol!

[threemonkeys]

I would re-confirm with another source at your insurance company that you must, in fact, have them cut a check to a jeweler. I replaced a lost ring and my insurance wrote me a check directly (State Farm) and the money was mine to do with as I liked. You should also read your insurance policy to make sure your agent (?) isn't feeding you a line 'o $h!T.

[lovecartier]

Originally Posted by JasoninDenver

Because most replacement policies have a depreciation clause that allows them to depreciate to fair market value of the old piece if you do not replace it with a new one.

I ran into this when my mountain bike was stolen. It was 2 years old and probably had a market value of $2,500.00 but cost about $4,500.00 new. They cut me one check for $2,500.00 right away and then another one for the balance when I proved via receipts that I spent the $4,500.00 on the new bike.

EXACTLY - mine has that depreciation clause. I forgot that was there but yes, that is the reason.

Now I'm between the light MOP w/ gold romans and the black diamond dials. My father has suggested I go w/ the black diamond ... I'm so not sure now!

[girltime]

Originally Posted by lovecartier

Apparently, they are under no obligation to give me cash ... the way the policy is written they must "replace" it with "like kind and quality" (technically they don't even have to replace it with the same thing). They're giving me a fair settlement and I feel I'm no worse off than with a watch that was originally worth much less. Would I like to buy a $6k watch and pocket the rest? Yes ... but I can't in this case.

THESE ARE MY FOUR MAIN CONTENDERS - please help me! 21 y/o guy, real estate agent ... wears a lot of gold otherwise (Cartier Love collection) ... also my wardrobe is mostly dark colors. This is so tough (but again, best problem ever).

#1 skip the diamonds and go with fluted bezel.

[lovecartier]

So ultimately, here's what happened.

I spent nearly an hour in the story trying on every Datejust, Submariner, & Yacht Master and finally circled back to the mother-of-pearl DJ I originally wanted. The salesperson told me that she could tell it made me the happiest of all of them by the way I smiled when I wore it versus how I was pensive with the other pieces.

So here's my new baby. The courier is going to bring it to me early next week after I bring them the insurance check - they are delivering across state line to save me the tax.

Anyway, like it or not it's the one that made ME happy!

[Sperry]

Sharp watch!

[Kapture1]

Should get low jack installed.

Also, you prob could have had the jeweler sign off of the check.