Income versus Watch Collection Value - Looking for Sound Guidence

[GRabens]

Just curious if my priorities are in line or out of whack. How much should my yearly income be to justify a $25k watch purchase/collection? $100k, $200k, $500k? For the sake of the discussion, let us assume that this is a cash purchase. I know there are a lot of sickos on this forum, but also a lot of financially sound members too. And if you haven't figured out by now, my better half has put me up to this since I am trying to justify to her that I NEED a new $25k watch.

Just curous how the forum feels.

[swils8610]

Good luck with this....


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[cedargrove]

No easy answer to this - so many variables.

[FeelingTheBlues]

Originally Posted by cedargrove

No easy answer to this - so many variables.

I'll have to agree with Rich on that one, it's impossible to answer that question and I doubt anybody will talk about his personal income. Still, allow me to say this (if it can ever be helpful): no matter what this 25k represents if you compare it with your income, if you can spend it without putting yourself in trouble in any way (financially, that is, you'll probably get enough trouble just for considering spending that amount of money on a watch...I know I get some trouble myself for much less with my girlfriend...) and if spending that amount of money still gives you plenty enough for rainy days and other expenses then you know you can afford this watch. It's not a matter of percentages, it's a matter of priorities and we all have different ones that cost us different amounts of money.

[CDNWatchNut]

My opinion...as long as you're providing in the important aspects of life(however those apply to your individual case), then there is no other criteria. Spend, save or give as you are able and as you feel is best, whether a watch or otherwise. Bear in mind that outside of watch forums, most people would say you're nuts to spend more than $250 on a watch, let alone $25,000, so I don't think you have a leg to stand on in proving the NEED for an expensive watch to your wife.

[Alanautumn]

What about using the wedding ring logic? Two months salary?

[Roller07]

Originally Posted by bradabeattie

What about using the wedding ring logic? Two months salary?

I know for a fact this works. I used it to get my first luxury watch 16 years ago.

[Alanautumn]

Originally Posted by Roller07

I know for a fact this works. I used it to get my first luxury watch 16 years ago.

Worked for me!!

[accce]

Originally Posted by bradabeattie

What about using the wedding ring logic? Two months salary?

Before or after taxes?

[Alanautumn]

Originally Posted by accce

Before or after taxes?

Before!

[psv]

Originally Posted by bradabeattie

What about using the wedding ring logic? Two months salary?

Ah, greatest ad copy ever. This was something that DeBeers Diamond came up with and pushed all over the world. For some reason, it stuck in the US and have been used as a rule of thumb by American men for some decades.

[jot_]

Originally Posted by psv

Ah, greatest ad copy ever. This was something that DeBeers Diamond came up with and pushed all over the world. For some reason, it stuck in the US and have been used as a rule of thumb by American men for some decades.

Having been recently in the market for an engagement ring - that two month figure has turned into three months salary. Wonder how that happened...

[versatile1]

When my savings account first hit 1 million I bought my first datejust.
At 10 million in the account I sprung for a new Sub.
Now that I'm about to reach the 50 million mark I'm thinking a platinum Day Date is deserved.

Is this the kind of answer you're looking for?

I started flipping omega seamasters with a 500 investment until my profits got me my first rolex and so on.

I've never used my income to support my watch habit since the initial 500.
It's purely hobby money.


BTW,
I was kidding about anything that ends in Million

[Grissom]

Originally Posted by versatile1

I started flipping omega seamasters with a 500 investment until my profits got me my first rolex and so on.

I've never used my income to support my watch habit since the initial 500.
It's purely hobby money.

Exactly the same concept here, Jeff....I bought and sold watches and used some of that profit to acquire my own personal watches, as well as other stuff. I started out spending $1,000.00 and have never used any "income" funds from that moment on, and in fact, deal with all my "collectibles" and toys the same way. Nice to see that someone else has gone down the same road. I started buying and selling when still in high school......was, and still is, fun, this way!

[JP Chestnut]

Originally Posted by GRabens

Just curious if my priorities are in line or out of whack. How much should my yearly income be to justify a $25k watch purchase/collection? $100k, $200k, $500k? For the sake of the discussion, let us assume that this is a cash purchase. I know there are a lot of sickos on this forum, but also a lot of financially sound members too. And if you haven't figured out by now, my better half has put me up to this since I am trying to justify to her that I NEED a new $25k watch.

Just curous how the forum feels.

I'd say an annual income of $250K at the least is what it would take for me to spend that much on a watch.

[boogiebot]

Your dime so it's your time. If you're comfortable dropping the cash then go for it. Buying a watch is really an emotional purchase. It's nit the same as what a bank will consider giving you a mortgage for. So trying to determine what's reasonable to spend based on your salary is difficult at best.

My guess is that if all your bills are paid and you want to buy it.... Who can deny you?

[WML]

You don't need a 25k watch..you want a 25k. However, if you need to justify it to your spouse..you may be explaining for a long time ;>)

[Apdl]

Originally Posted by WML

You don't need a 25k watch..you want a 25k. However, if you need to justify it to your spouse..you may be explaining for a long time ;>)

Agreed
here is my logic..
When I finally get my grail it will mark a life milstone
Also, how many of your buddies bought a Boat, Snowmobile,Jet Ski, ATV, Hobby car etc and rarely use it? The watch is probally cheaper and you get to wear it every day of you like!
Way better than those other toys

[Tools]

If your wife is concerned with how much you are going to spend on a watch, will she have the same concern if you were buying her a diamond tennis bracelet..

[travisb]

For me, as long as my wife, kids, living expenses, vacation money and family savings are already taken care of, then all systems are a go.

[Ravager135]

It all depends on your priorities. In theory all you need to have ever made is 25k in your entire life to purchase a 25k watch.

[Rags]

I can tell you there is no way I could justify buying a $25000 watch to my wife unless I hit lotto..

[WhatTheDeuce]

If you earn 25k a year and are able to save 10k a year, then you would be able to buy one in 2.5 years.

[Rickn]

Since it is a cash purchase ( which I believe almost all purchases should be) then it goes by these rules. If it does not negatively affect your retirement, your children's college funds or your day to day living expenses then you should buy whatever you want

[balboa73]

Originally Posted by Rickn

Since it is a cash purchase ( which I believe almost all purchases should be) then it goes by these rules. If it does not negatively affect your retirement, your children's college funds or your day to day living expenses then you should buy whatever you want

Agreed. Priorities first than 'play'. I do not purchase a watch unless i have the 'cash' to pay immediatly. In fact My Visa balance is always $0 as i never purchase anything on credit card. I am fortunate to be able to do this but bear in mind I can do this because i never put myself in debt to begin with. PATIENCE can be good for the wallet

PS: I also bought a home in which I could 'Afford' NOT what the BANK told me I could 'afford'

[ecsub44]

You need to make exactly $342,942.18 in order to purchase a $25,000 watch.

[chicfarmer1]

Normally, a person knows what he/she can afford. Don't you? I don't think it follows any strict calculus with respect to yearly income, either.

[Submarin3r]

Originally Posted by GRabens

Just curious if my priorities are in line or out of whack. How much should my yearly income be to justify a $25k watch purchase/collection? $100k, $200k, $500k? For the sake of the discussion, let us assume that this is a cash purchase. I know there are a lot of sickos on this forum, but also a lot of financially sound members too. And if you haven't figured out by now, my better half has put me up to this since I am trying to justify to her that I NEED a new $25k watch.

Just curous how the forum feels.

It depends. If I had a $200K annual salary but owed $300K on a mortgage, I would not buy it. If I had a $100K annual salary but paid off my house, car, etc. then I would buy it.

[Angrypuppy]

I don't think it has anything at all to do with salary.

I think it's more of a net worth issue.

[singe89]

Too many variables. Its more about disposable income, financial obligations, and priorities than it is annual salary.