Watches aren't investments, so what is?

[pearson1995]

Hi guys,

I'm asking this forum as I often hear how watches aren't investments and there are better ways to invest your money.
I personally strongly disagree with this. Are you going to make crazy money on a modern day rolex? Probably not. But I personally have made a nice amount on my watches admitidly through luck as much as judgement.

My question is if not watches, how would you invest 5-30 K right now? Please tell me ways you would reccomend or know about which in your opinion are better than watches.

Thanks.

[MonBK]

Buy a car or a boat for 30 and sell in a week for 50.

Repeat the above as many times as you can.

You're welcome.

[lapince]

Originally Posted by MonBK

Buy a car or a boat for 30 and sell in a week for 50.

Repeat the above as many times as you can.

You're welcome.

You mean buy for 50 and sell in a week for 30 I think, unless it's stolen, you changed numbers and gave it new papers, don't know in what dimension your maths are good. Lol

Real estate, stocks (be careful, stocks at their highest ever usually means the bubble is about to burst), gold, art, there are many things, but you better know what you are doing, can win or loose with those. I usually wait for a crisis to happen and buy real estate at it's lowest. And about watches, well in the 6 watches my wife and I have, we would break even on 2, and make money on 4, even used, but maybe there are 15 watches like this in the world. Just ddon't get into binary options or forex, 99% of amateurs loose all there

[glenn_herwig]

Originally Posted by pearson1995

Hi guys,

I'm asking this forum as I often hear how watches aren't investments and there are better ways to invest your money.
I personally strongly disagree with this. Are you going to make crazy money on a modern day rolex? Probably not. But I personally have made a nice amount on my watches admitidly through luck as much as judgement.

My question is if not watches, how would you invest 5-30 K right now? Please tell me ways you would reccomend or know about which in your opinion are better than watches.

Thanks.

Put it in a hedge fund that charges a 3% management fee and takes 30% of profits. This is the way to invest! Just kidding! Don't do that. Put it in the Charles Schwab intelligent portfolio. No fees whatsoever and it rebalances for you. If you have 50k in the account it sells loosing etfs for tax efficiency. I'm opening one today! Some of my family has it and they love it. You don't even need to check it!

[MrTwi]

Seeds

Plant 1,000 and they become 100,000,000

Sell

Repeat

Nature finds a way

[MonBK]

Originally Posted by lapince

You mean buy for 50 and sell in a week for 30 I think, unless it's stolen, you changed numbers and gave it new papers, don't know in what dimension your maths are good. Lol

What exactly are you accusing me of?

[Valenciawatchrepair]

I think one must first define "investment." Some consider anything that will have a return. Some only consider it if it's going to pay out in the future. All are going to have some risk.

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[lapince]

Originally Posted by MonBK

What exactly are you accusing me of?

Nothing, I just never heard of making money on a car or boat, unless it is stolen or you buy a car, wait 30-50 years for it to become a collection model, had I kept my VW Golf model 1, it would be worth 30k, I sold it for 3k 22 years ago. Wasn't accusing of anything, just don't see how you can make money buying these 2 things and selling them, probably the 2 surest ways I know to loose money, unless like I said or if you buy direct from the factory because you know the CEO of Ford for example.

[Etschell]

Originally Posted by lapince

Nothing, I just never heard of making money on a car or boat, unless it is stolen or you buy a car, wait 30-50 years for it to become a collection model, had I kept my VW Golf model 1, it would be worth 30k, I sold it for 3k 22 years ago. Wasn't accusing of anything, just don't see how you can make money buying these 2 things and selling them, probably the 2 surest ways I know to loose money, unless like I said or if you buy direct from the factory because you know the CEO of Ford for example.

i think mon was being mon.

i vote for real estate and inflation protected assets such as gold and silver (physical not paper). and no a gold rolex does not count.

[brandrea]

Buy and hold good blue chip dividend paying stocks.

[MonBK]

Originally Posted by lapince

Nothing, I just never heard of making money on a car or boat, unless it is stolen or you buy a car, wait 30-50 years for it to become a collection model, had I kept my VW Golf model 1, it would be worth 30k, I sold it for 3k 22 years ago. Wasn't accusing of anything, just don't see how you can make money buying these 2 things and selling them, probably the 2 surest ways I know to loose money, unless like I said or if you buy direct from the factory because you know the CEO of Ford for example.

Ok.

[Tony64]

Originally Posted by Etschell

i think mon was being mon.

i vote for real estate and inflation protected assets such as gold and silver (physical not paper). and no a gold rolex does not count.

^^^This.
On all three counts.

[MonBK]

Originally Posted by MonBK

Ok.

Perhaps I should clarify that it has happened on occasion that I've sold for 35-40 if it was a quick deal within a day or two.

[beshannon]

Originally Posted by pearson1995

My question is if not watches, how would you invest 5-30 K right now? Please tell me ways you would reccomend or know about which in your opinion are better than watches.

Thanks.

This is why so many people fail at investing their money.

This question cannot be answered here, simply because we know nothing about your financial situation.

Debt?
Net worth?
Goals?
Age?
Age until retirement?
Current investment portfolio?

People can rationalize buying luxury jewelry as an "investment" and wait until inflation and currency devaluation drag the values higher and they pretend that they "made money on their investment".

I suggest you refocus and separate investing from buying.

Good luck!

[lapince]

Originally Posted by MonBK

Perhaps I should clarify that it has happened on occasion that I've sold for 35-40 if it was a quick deal within a day or two.

I can understand finding an incredible occasion and making money on it, but doesn't happen often, my partner tried that, at one point he had 3 cars, around 100k used value, well he thought he got at a good price, but still lost money in the end, not a lot, but probably 10-12k...

[dmash]

Originally Posted by beshannon

This is why so many people fail at investing their money.

This question cannot be answered here, simply because we know nothing about your financial situation.

Debt?
Net worth?
Goals?
Age?
Age until retirement?
Current investment portfolio?

People can rationalize buying luxury jewelry as an "investment" and wait until inflation and currency devaluation drag the values higher and they pretend that they "made money on their investment".

I suggest you refocus and separate investing from buying.

Good luck!

This guy knows what he's talking about.

[MonBK]

Originally Posted by lapince

I can understand finding an incredible occasion and making money on it, but doesn't happen often, my partner tried that, at one point he had 3 cars, around 100k used value, well he thought he got at a good price, but still lost money in the end, not a lot, but probably 10-12k...

What can I say, there's no guesswork involved in this business.

[ejvette]

Originally Posted by brandrea

Buy and hold good blue chip dividend paying stocks.

I'm with ya that it's what I've done for the past 20 years and have been rewarded quite handsomely !


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[RaceDoc11]

Originally Posted by Etschell

i think mon was being mon.

i vote for real estate and inflation protected assets such as gold and silver (physical not paper). and no a gold rolex does not count.

Absolutely!

[beshannon]

Originally Posted by dmash

This guy knows what he's talking about.

Thanks in another life I was in that business.

[lapince]

Originally Posted by dmash

This guy knows what he's talking about.

Well that depends, if you can get your hands on a few 5131, whichever metal, at retail price, then yes watches are a great investment.

[locutus49]

This:

Originally Posted by brandrea

Buy and hold good blue chip dividend paying stocks.

[Magwitch]

I engaged a financial advisor many years ago. I am not wealthy and probably have a LOT less $ than many posters here, but I would have a LOT less than I have now without his advice.

What I have is irrelevant to post because it applies to me, as noted above, each case is unique. I am almost 68 and am retiring on 1 Sept. I would not be able to do this without investment help from a competent advisor.

That is my strong recommendation for you.

[lapince]

I didn't know what are blue chip stocks, here's an article for those who like me don't know, but stocks aren't for me, I need material things to feel safe... http://www.suredividend.com/blue-chip-stocks/

[hugs]

Originally Posted by lapince

I didn't know what are blue chip stocks, here's an article for those who like me don't know, but stocks aren't for me, I need material things to feel safe... http://www.suredividend.com/blue-chip-stocks/

Stocks are material, whenever I walk into an Apple Store for example I can think I own a billionth of this

[BristolCavendish]

Originally Posted by pearson1995

My question is if not watches, how would you invest 5-30 K right now? Please tell me ways you would reccomend or know about which in your opinion are better than watches.

Consider relocating to AK/CA/CO and starting a successful 'plantation'. Rolexes will soon become a secondary priority and 'a drop in the bucket' as you will be able to easily afford any model (vintage/contemporary/PM).

[Carrera911]

I know I'm gonna upset many people here today by saying this but I'll say it anyways: I personally don't think Apple is a great stock/company anymore.
True that Apple sits on a lot of cash which they can use to purchase other companies.
True that apple created the iPhone.
But the last couple years I haven't seen any of their products to be very innovative. I'm sorry I was not impressed with the new Mac Pro, iPads or Macs. I couldn't find one good reason to upgrade my i6s to i7 etc...

Originally Posted by hugs

Stocks are material, whenever I walk into an Apple Store for example I can think I own a billionth of this

[Danny83]

Restore a 1970s model Chevelle and sell it

[tamiya]

Originally Posted by Valenciawatchrepair

I think one must first define "investment." Some consider anything that will have a return. Some only consider it if it's going to pay out in the future. All are going to have some risk.

Yup.

Any "Investment" must have a confirmed entry price, exit price & term - everything's agreed to on contract before commencing.

Everything else is called a "Gamble"... or putting on my polite financial advisor hat, it's a "speculative endeavour"

[BLACKHORSE 6]

Originally Posted by brandrea

Buy and hold good blue chip dividend paying stocks.

Yep