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14 August 2018, 12:07 PM | #1 |
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How did you finance your Rolex
Being new to the forum I was curious how people pay for their watches. Theses are expensive and people are in different places in life so I was curious.
I have been a collector of things other then watches my whole life. I decided to slowly liqudate some of my stuff to help purchase my first Rolex. My Datejust was $6600 I sold $2500 worth of stuff. I would like to sell maybe $1000 more. Then do a 18 month 0% cc. I can pay in full but I don’t like to tie up funds. I am curious how creative people get to purchase these fine timepieces |
14 August 2018, 12:28 PM | #2 |
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I never bought a watch on credit. Part of why I got to the game late....
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14 August 2018, 12:29 PM | #3 |
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Personally, I would never finance a watch. A house, for sure. A car, maybe. But if I don't have the funds for a watch, I will wait until I do.
Having said that, typically when I acquire a new piece, I get rid of an existing one. I like to keep my collection to 5 watches max. |
14 August 2018, 12:34 PM | #4 |
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I never take on credit debt I can’t settle the day after I take the credit.
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14 August 2018, 12:35 PM | #5 | |
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Quote:
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14 August 2018, 12:36 PM | #6 |
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These threads often turn into >>I‘d never finance<<, which was never the question (not if, but how). Share your stories guys and gals
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14 August 2018, 12:38 PM | #7 |
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My view is that “luxury” watches dictate affordability. It is affordable when one have excess money.
That is why many buy a luxury watch as a success milestone in life. For me, when I finish a project or hit a bonus at work, I put it on a luxury watch. Ones you have a few, you can start to swap them out as some choices will hold significant value and the hardship of most of us to save from scratch will lessen the burden. I generally buy preowns for sure, but at the least within the warranty. For example, I look for preown Rolex at least 10-15% off list around 2013 or newer. Of course that would depend on the piece. DJ2 or Explorer II for example. Sent from my iPhone using Tapatalk |
14 August 2018, 12:39 PM | #8 |
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I’ve used some 0% CC to purchase watches. Why not. Free money. I’m not old so I don’t have piles of cash laying around in the bank plus I’m saving for a new home. Most my excess income goes in my 401k. Pay half and pay off the rest over 18 mos. I get quarterly bonuses and use those to pay it down.
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14 August 2018, 12:42 PM | #9 | |
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Quote:
Some of us are old and still don’t have piles of cash around...lol! Sent from my iPhone using Tapatalk |
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14 August 2018, 12:42 PM | #10 |
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I must have the cash however, I too like to use other’s money so if I do finance it’s always 0% and put my cash to work somehow. It’s always readily available should I need, want or decide to pay the account early. I have come out ahead every time I’ve done it. Remember, this collecting is a want not a need so don’t get caught up in the hype and overextend yourself.
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14 August 2018, 12:43 PM | #11 |
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If you’ve got 0% APR for say a year on a credit card and have most of the cash set aside, I’d buy that route. You’ll get the credit card points and depending on your card some extra assurances/warranty.
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14 August 2018, 12:51 PM | #12 |
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I purchased my two in a row Rolexes one month apart. I could buy them with cash but AD offered 6 month no interest. I thought it's free money and 6 month get me to the bonus time.
My coworker purchased his BLNR with 24 month interest free from his AD. So, one and a half year later he still paying for his watch and getting ready for another one. |
14 August 2018, 12:51 PM | #13 |
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I put them on my credit card to get the points then pay it off on the next statement.
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14 August 2018, 12:51 PM | #14 |
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Good point. The points. You could rack up a few hundred dollars in points just from putting it on the card.
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14 August 2018, 12:52 PM | #15 |
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14 August 2018, 12:54 PM | #16 |
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Cash is king. I've always paid straight away for any watch.
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14 August 2018, 12:54 PM | #17 |
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Bingo
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14 August 2018, 12:58 PM | #18 |
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I like to take out a third mortgage so I can afford the platona.
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14 August 2018, 01:06 PM | #19 |
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Credit card and 0% interest. It's free money and points.
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14 August 2018, 01:39 PM | #20 |
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I go to work everyday, save a little each month, and when the $ and time is right, I crack the piggy bank and buy the watch I want.
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14 August 2018, 01:43 PM | #21 | |
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How did you finance your Rolex
Quote:
Same here. I couldn’t take part in the game until my 40’s but I still put on Amex or my chase for the points. I just pay in full at the end of the month. Sent from my iPhone using Tapatalk |
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14 August 2018, 01:44 PM | #22 |
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Credit card purchase with the bill fully settled the next month. Would have taken 0% instalments if my AD would allow it and invest the money instead.
Never leverage to buy a watch, unless of course you can buy one at MSRP when its selling at a super high premium on the grey market (eg. SS BLRO, SS Daytona)
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14 August 2018, 01:48 PM | #23 |
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Cash is KING!
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14 August 2018, 01:56 PM | #24 |
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Cash if it will give me a better discount, credit card and then pay it off when I get the statement.
Mark |
14 August 2018, 01:59 PM | #25 |
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14 August 2018, 02:04 PM | #26 |
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14 August 2018, 02:04 PM | #27 |
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Hard earned money.
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14 August 2018, 02:11 PM | #28 |
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By selling other watches of course!
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14 August 2018, 02:11 PM | #29 |
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I think they'll be strong opinions here based on the title of this thread. I did not finance and will not purchase non-essential items unless it's a small percentage of my assets.
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14 August 2018, 02:13 PM | #30 |
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