How To Get Over the Psychological Barrier for DD Purchase

[DCGuy1965]

Serious question. As I've mentioned in other threads I've been kicking the tires of getting a DD for a while now. I've worked very hard my whole career, planned well financially thanks to my father's upbringing, gotten through some challenging times, and have wanted to give myself a gift for accomplishing certain goals in life. When I was a teen I never thought I'd be thinking about a purchase like this. In my 20s all; I wanted was to purchase something like this but no way no how was that happening.

I've been on TRF for a long time. I've learned a lot of great things and have gotten a couple of watches from some very fine sellers and for that I'm thankful. Now I want the grail. I've wanted to get a DD for a long time. And now I can. This is not a matter of stretching myself financially or anything to that effect. This is just getting the gumption to go in to the AD and bust out the checkbook. The actual thought of spending 30K+ for a watch just baffles me. I know there are a ton of you who own a DD. Did you all have to grapple with the thought of laying out that kind of cash for it? If so how did you overcome your hesitation? Thanks in advance but I'd really like to know.

[Muxi]

Mine was a gift from my brother when I passed the bar.

[peterpl]

I think you just need to stop overthinking it.

I know the idea of dropping $30k on a watch is absolutely absurd to 99% of the population but since your financially secure I don't see the problem? If it doesn't affect your ability to provide food or shelter then there is nothing wrong with rewarding yourself.

To be completely honest I wouldn't have bought my precious metal pieces without my successful investments. I usually reward myself with a new watch after a financially successful transaction or year. I was a bit anxious when I bought my first PM watch but that quickly went away when I started wearing it. :)

For some reason for me I feel much better buying a $30k watch with monies I attained through investments and other monetary windfalls than monies that I would save from say my 9-5 job. Maybe I feel like it was "easier" money or something but yeah thats just me.

[EDL7]

If you are feeling queezy about the purchase..don't do it...
You should be 100% positive feeling about it..
Sometimes..its just not the right time..
As something else is right around the curve..
That needs to be attended to..

[DCGuy1965]

Originally Posted by peterpl

I think you just need to stop overthinking it.

I know the idea of dropping $30k on a watch is absolutely absurd to 99% of the population but since your financially secure I don't see the problem? If it doesn't affect your ability to provide food or shelter then there is nothing wrong with rewarding yourself.

To be completely honest I wouldn't have bought my precious metal pieces without my successful investments. I usually reward myself with a new watch after a financially successful transaction or year. I was a bit anxious when I bought my first PM watch but that quickly went away when I started wearing it. :)

For some reason for me I feel much better buying a $30k watch with monies I attained through investments and other monetary windfalls than monies that I would save from say my 9-5 job. Maybe I feel like it was "easier" money or something but yeah thats just me.

Thanks very much. Very thoughtful way to put it. Yea I was thinking either the watch or the car - an Alfa Romeo Giulia. Cars are too much work as I see it. Have to pay personal property tax, maintenance, gas, etc. And they rapidly drop in value. Most would think I would be out of my mind to buy a DD over the car but in 5-7 years what will each be respectively worth...

[ltmgeller]

Mine was a retirement gift to myself. I honestly had no interest in it until I tried it on and fell in love. The second I put it on, the feel, the glow... its just so right.

[jps3b]

It seems to me that you have done everything right. My philosophy is that you don’t know what tomorrow brings. Live for today. Tomorrow will care for itself. Like the wise gentleman said before me, if you are financially sound, there shouldn’t be any reason why you can’t reward yourself for a life of hard work, sacrifice, and sound decisions. I think you will have many more enjoyable years with a DD than any car. Also, if you have a son, he can enjoy the watch and remember his father every time he wears it. Good luck and I’m looking forward to the pics

[coralfarmer84]

You can talk yourself into or out of anything in life. If you want it bad enough, buy it. I have/had similiar thoughts before but your not really losing 30k plus when you buy it, your only tying up the money until you decide you want to sell, then if you bought right your not going to lose a whole lot. Enjoy the experience, its what you worked so hard for in the first place

[LazySumday]

Well, I did not buy a new one, mine was used. Even so, it cost me quite a bit of dough. To be honest, the watch just spoke to me. Sounds stupid I know, but when I saw it I had to purchase it. Take comfort in the fact that it will retain it’s value (at least used ones).




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[lenfried29]

Originally Posted by DCGuy1965

Serious question. As I've mentioned in other threads I've been kicking the tires of getting a DD for a while now. I've worked very hard my whole career, planned well financially thanks to my father's upbringing, gotten through some challenging times, and have wanted to give myself a gift for accomplishing certain goals in life. When I was a teen I never thought I'd be thinking about a purchase like this. In my 20s all; I wanted was to purchase something like this but no way no how was that happening.

I've been on TRF for a long time. I've learned a lot of great things and have gotten a couple of watches from some very fine sellers and for that I'm thankful. Now I want the grail. I've wanted to get a DD for a long time. And now I can. This is not a matter of stretching myself financially or anything to that effect. This is just getting the gumption to go in to the AD and bust out the checkbook. The actual thought of spending 30K+ for a watch just baffles me. I know there are a ton of you who own a DD. Did you all have to grapple with the thought of laying out that kind of cash for it? If so how did you overcome your hesitation? Thanks in advance but I'd really like to know.

Enjoy the life, it has an expiration date. If it makes you happy go for it.

[Muxi]

Originally Posted by DCGuy1965

Thanks very much. Very thoughtful way to put it. Yea I was thinking either the watch or the car - an Alfa Romeo Giulia. Cars are too much work as I see it. Have to pay personal property tax, maintenance, gas, etc. And they rapidly drop in value. Most would think I would be out of my mind to buy a DD over the car but in 5-7 years what will each be respectively worth...

If the other option is an Alfa then I suggest you go for the DD. Looking back, although my ultimate love are still cars, if I fixated on watches earlier (which can be just as exciting), I'd had saved quite a bundle.

[bigcarbs]

Originally Posted by DCGuy1965

Thanks very much. Very thoughtful way to put it. Yea I was thinking either the watch or the car - an Alfa Romeo Giulia. Cars are too much work as I see it. Have to pay personal property tax, maintenance, gas, etc. And they rapidly drop in value. Most would think I would be out of my mind to buy a DD over the car but in 5-7 years what will each be respectively worth...

As somebody in the auto business I support the decision to go with a DD over a car. I buy cheap cars that get me to work and back safely, every time I try and talk myself into a fun car I look at all the other costs involved and can't make any sense of it. The watches will hold a good amount of their value in comparison

[Chiboy]

I can better understand the difficulty in buying your 5th or 10th nice watch. If you are going to own one great watch, and enjoy it (virtually) every day, it likely won't feel too expensive to you if you get a kick out of it every time you strap it on. Justifying the 5th $30k watch? I think that's tougher, although many, many here don't have that "issue."

I've had my Daytona almost two years and get a kick out of putting it on every day. Was it worth it? F&%k yeah! To me it was. I have never had a single moment of regret or question. But I tend to not go into things lightly or quickly. I wait for what I want and am seldom disappointed. If it's definitely what you want, and you can afford it (which it sounds like you certainly can), do you think you'll enjoy it every day? If so, it's easy to "justify." IMO

[mjr24]

Originally Posted by coralfarmer84

You can talk yourself into or out of anything in life. If you want it bad enough, buy it. I have/had similiar thoughts before but your not really losing 30k plus when you buy it, your only tying up the money until you decide you want to sell, then if you bought right your not going to lose a whole lot. Enjoy the experience, its what you worked so hard for in the first place

Yep, this.....
If you are buying pre-owned and have let someone else take the depreciation hit....it's not really much different in reality than taking that money and putting it into, say, a non-interest bearing savings account. With most Rolexs...you will be able to get the money in a subsequent sale and you really won't be out anything.

Totally different than a car....where you really are dealing with a depreciating asset that will need maintenance, etc.....even if you buy used, the car won't be worth the same value in a year.

Now again....a $30k Rolex is different than, say, a $30k Hublot...where you certainly will take a large hit....even if you buy pre-owned and then sell it in a couple years.

[Drive]

Jump in with both feet and enjoy every minute of the jump. I make quick decisions on everything though, so what do I know.

[Bigsoftee]

When I purchased mine it was one of two childhood ambitions. One was to get my first Rolex by the age of 16, which I did through paper rounds, buying and selling sweets from local Mars factory, raking bunkers and caddying when 15. I managed to reach that goal. The other was I was mesmerised while bunking off school at Windsor horse racing, and saw (think it was Victor Chandler) wearing the president. I was spell bound by it and set my second grail which was to just own one. I realised that dream a year or so ago, and yes I thought same as you and struggled with the cost, but then the desire and ambition to achieve and be able to buy it made it the best purchase ever. I never regret it every time I wear her, still the memories flood back to that cold November afternoon at Windsor racing as a wide eyed 10 year old, “learning the trade” while bunking off school. Go for it!

[Trouble15]

Originally Posted by Muxi

Mine was a gift from my brother when I passed the bar.

Can I join your family?

[shaunylw]

Originally Posted by Bigsoftee

When I purchased mine it was one of two childhood ambitions. One was to get my first Rolex by the age of 16, which I did through paper rounds, buying and selling sweets from local Mars factory, raking bunkers and caddying when 15. I managed to reach that goal. The other was I was mesmerised while bunking off school at Windsor horse racing, and saw (think it was Victor Chandler) wearing the president. I was spell bound by it and set my second grail which was to just own one. I realised that dream a year or so ago, and yes I thought same as you and struggled with the cost, but then the desire and ambition to achieve and be able to buy it made it the best purchase ever. I never regret it every time I wear her, still the memories flood back to that cold November afternoon at Windsor racing as a wide eyed 10 year old, “learning the trade” while bunking off school. Go for it!

Still have the first watch? That’s a cool story!




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[Bigsoftee]

[QUOTE=shaunylw;9063300]Still have the first watch? That’s a cool story

I do, DJ TT, so very sentimental to me and will be the watch I hand down to my son. I still remember going into Watches if Switzerland in my school uniform, 2160 pounds she cost. The feeling when I first wore it was a real “wow” moment. Memories :)

[No SUBctitute]

Originally Posted by DCGuy1965

Serious question. As I've mentioned in other threads I've been kicking the tires of getting a DD for a while now. I've worked very hard my whole career, planned well financially thanks to my father's upbringing, gotten through some challenging times, and have wanted to give myself a gift for accomplishing certain goals in life. When I was a teen I never thought I'd be thinking about a purchase like this. In my 20s all; I wanted was to purchase something like this but no way no how was that happening.

I've been on TRF for a long time. I've learned a lot of great things and have gotten a couple of watches from some very fine sellers and for that I'm thankful. Now I want the grail. I've wanted to get a DD for a long time. And now I can. This is not a matter of stretching myself financially or anything to that effect. This is just getting the gumption to go in to the AD and bust out the checkbook. The actual thought of spending 30K+ for a watch just baffles me. I know there are a ton of you who own a DD. Did you all have to grapple with the thought of laying out that kind of cash for it? If so how did you overcome your hesitation? Thanks in advance but I'd really like to know.

You are thinking about it wrongly. You are not really SPENDING the money.

How much cash do you have in savings? Think about the money you put into a DD as still part of your cash reserves, but its just in Rolex metal instead of cash or precious metal. If you buy for a good price, Rolex has a pretty good track record of holding its value. Its a little riskier than cash. MAYBE a similar risk to gold. Gold lost 30% of its value after 2011, so its not completely safe.

[yoniman]

The best time to buy (anything) is when you can.

And as already said, to have a good time you should have a good watch.

Good luck and show us the photos.

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[tjbender]

As many others have said, you’re really only tying the money up. Make sure you get at least 20% off and buy out if state to a paid taxes. No shortage of ADs with what you’re looking for. When it comes to rationalizing, I’m going to go out on a whim and say you’re probably driving a nice car? Well that is a far worse investment. While there isn’t going to be the same upside in a DD as there will likely be with other models, the depreciation will be minimal, again pending you go gray or ensure you’re getting a good discount.

[sensui]

I will say this. Be very careful about these decisions. After you cross a threshold in terms of spending... The next time it'll be easier to justify that cost and higher. Vicious cycle.

[peterpl]

Originally Posted by sensui

I will say this. Be very careful about these decisions. After you cross a threshold in terms of spending... The next time it'll be easier to justify that cost and higher. Vicious cycle.

That is 1000% true. My very first step into Precious Metal was a Full Rose Gold Skydweller on bracelet. That cost me an arm and leg.

But....that laid the foundations and since then I have bought 3 x DD40s + DJ41 + 116613LB + 116713LN + numerous IWCs/APs. Now looking at adding another YG Skydweller + AP ROC RG on bracelet. LOL

Once you set the bar high in terms on monetary aspects its easier to "justify" more and more.

[18078]

You work to make money so you can SPEND it !! Enjoy life !!!!!

[greeneyedguy]

My limit on buying a 20K+ watch is I need to have 7 figures in my account that way my money is making me money which is after all the purpose of money. Until then it's stainless steel! I try to limit a watch purchase to my average monthly income. Those PM Daytona's on the oysterflex call my name everyday!

[returntorolex]

Originally Posted by DCGuy1965

Serious question. As I've mentioned in other threads I've been kicking the tires of getting a DD for a while now. I've worked very hard my whole career, planned well financially thanks to my father's upbringing, gotten through some challenging times, and have wanted to give myself a gift for accomplishing certain goals in life. When I was a teen I never thought I'd be thinking about a purchase like this. In my 20s all; I wanted was to purchase something like this but no way no how was that happening.

I've been on TRF for a long time. I've learned a lot of great things and have gotten a couple of watches from some very fine sellers and for that I'm thankful. Now I want the grail. I've wanted to get a DD for a long time. And now I can. This is not a matter of stretching myself financially or anything to that effect. This is just getting the gumption to go in to the AD and bust out the checkbook. The actual thought of spending 30K+ for a watch just baffles me. I know there are a ton of you who own a DD. Did you all have to grapple with the thought of laying out that kind of cash for it? If so how did you overcome your hesitation? Thanks in advance but I'd really like to know.

I think you could be my twin....DC, ‘65 and the thought of parting with some real coin for a DD. I went through much of the same thought process and wrestled with those decisions.

Part of my reasoning before moving forward with my first DD (36mm in white gold) was “this will be the very last watch I’ll ever want or buy.” I purchased mine from a local Atlanta authorized dealer at a very good discount.

Within a year, I was trying to talk myself into a platinum DD

Some questions for you:

-Would you actually wear the watch? Often?
I wore my DD in WG daily. Totally flies under the radar and felt safe/comfortable and really no issues other than the fact that some of my friends still thought I was nuts spending 5 figures on a watch??!!
A YG DD is a different story. It will draw attention like a sponge. Are you okay with that? Would you have any safety concerns? Regardless, insure the watch for peace of mind.

-What exact model are you looking at? YG, RG, WG and what size? What dial?

-Would you ever sell it? Say you spent the money and after a few months you didn’t wear or enjoy it as much as you thought. Would it just be put away or perhaps shed it after a few years?

-Would you want a BNIB from an AD or consider preowned? Why?

-Is part of the whole buying experience important to you? Unless you have a tight relationship with an AD, consider hopping on a plane and taking a day or two (nice hotel, fine dinner, a couple hours at the AD) for a truly memorable experience. I still crack a smile when my pursuit of a platinum DD had me flying to Ft. Lauderdale to collect it.

-Lastly, enjoy the ride! Whatever you select and wherever you buy it from!!!

Mr. Subliminal says “do it”

[Brew]

Originally Posted by sensui

I will say this. Be very careful about these decisions. After you cross a threshold in terms of spending... The next time it'll be easier to justify that cost and higher. Vicious cycle.

Spot on, and scary true . . . .

[Muxi]

Originally Posted by sensui

I will say this. Be very careful about these decisions. After you cross a threshold in terms of spending... The next time it'll be easier to justify that cost and higher. Vicious cycle.

This. After crossing that psychological barrier it may change the way you view large purchases, or at least, for watches. Suddenly that $20-30k Aquanaut seems like good buy.

[Fat_ninja]

Originally Posted by Muxi

This. After crossing that psychological barrier it may change the way you view large purchases, or at least, for watches. Suddenly that $20-30k Aquanaut seems like good buy.

The aquanaut holds value better than the DD tho. :)
DD loses prob 1/3rd value pretty quick