How did you finance your Rolex?

[august1410]

A few handfuls of marbles and sea shells.

[Burlington]

Charge card like AMEX or 0% are fine I think provided it doesn’t leave you short on things which really matter.

Dropping these sorts of figures as cash in paper form (at least from an actual merchant) wouldn’t be feasible (and may raise a few eyebrows) as in quite a few countries anti money laundering laws make it difficult.

[sallyhats]

If you have the opportunity to utilize a credit card with 0% interest for 12-18-21 months, but have this ego about not financing, you probably missed out on a lot if interest in your life. If you have all of it in cash, why burn it when you could open a Goldman Sachs Marcus savings account and make 1.85% and thats just conservative. Open a Fidelity and buy a couple of ETFs that would net you 3-5% (still safe). This whole cash only nonsense is absurd. This is why people are broke they don't know how to manage their money.

[e dantes]

I plan on selling most of my affordable watches. Then I will use a credit card or wire transfer with a trusted seller. If it is a credit card, I will pay off the bill as soon as I get it.

[frankfrazetta]

For something as non-essential as a Rolex the only way to go is cash as long as all your other financial responsibilities are taken care of.

The only thing I finance is a home purchase.

[Mr. Superlative]

Originally Posted by theparry

This is how I’ve paid for all my watches.


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[Skraps]

Cash in 1000 CHF bills

[Gerardus]

Cash and always in 50€ bills.

[zengineer]

I only ever buy watches with money I have, not money coming later. I may use actual cash, wire money, Amex and pay it off.... regardless of how the exchange takes place I'm not going to finance a watch. Loans are for houses... and maybe cars.

[Mephist]

If from AD I pay cash.
If from gray dealer, I pay with Bitcoin.

[CRM114]

Sold my kids, which solved the "Who gets which watch after I die" problem too.

[Tonyfsu21]

Originally Posted by sallyhats

If you have the opportunity to utilize a credit card with 0% interest for 12-18-21 months, but have this ego about not financing, you probably missed out on a lot if interest in your life. If you have all of it in cash, why burn it when you could open a Goldman Sachs Marcus savings account and make 1.85% and thats just conservative. Open a Fidelity and buy a couple of ETFs that would net you 3-5% (still safe). This whole cash only nonsense is absurd. This is why people are broke they don't know how to manage their money.

100% agree! Lots of folks making these statements don’t realize they are setting money on fire.

[Tonyfsu21]

Originally Posted by Mephist

If from AD I pay cash.
If from gray dealer, I pay with Bitcoin.

Funny. What happens when you want to purchase a $35k+ PM model? A bag full-o-cash? Seems like a liability.

[Krash]

I pay with credit card, and then pay it off that month. I never carry a lot of cash with me.

[BlackSub$]

Use credit card. One with points or 1.5 % cash back and pay it off. From paying my mortgage I was able to have 1500$ to go to my first Rolex Sub No Date.


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[904VT]

Originally Posted by sallyhats

If you have the opportunity to utilize a credit card with 0% interest for 12-18-21 months, but have this ego about not financing, you probably missed out on a lot if interest in your life. If you have all of it in cash, why burn it when you could open a Goldman Sachs Marcus savings account and make 1.85% and thats just conservative. Open a Fidelity and buy a couple of ETFs that would net you 3-5% (still safe). This whole cash only nonsense is absurd. This is why people are broke they don't know how to manage their money.

Maintenance fees that’s just one reason why one wouldn’t open a new brokerage account and use a credit card if you don’t already have said account. Save your credit lines and limits for items that aren’t toys, even if you have a 6 figure limit. 1.85% on $10k (comparable professional SS price) is only $185....honestly for 185 bucks who gives a crap. Good luck getting 3-5% safely with term structure currently as is, is interesting advice. You shouldn’t assume it’s ego, to each his own

[904VT]

Originally Posted by Tonyfsu21

Funny. What happens when you want to purchase a $35k+ PM model? A bag full-o-cash? Seems like a liability.

They don’t literally bring a bag of cash. Most mean they pay with a debit card when they say cash. What a debit card does is save some ADs card processing fees, which they then in turn should pass some savings along to customer.

[beshannon]

Originally Posted by sallyhats

If you have the opportunity to utilize a credit card with 0% interest for 12-18-21 months, but have this ego about not financing, you probably missed out on a lot if interest in your life. If you have all of it in cash, why burn it when you could open a Goldman Sachs Marcus savings account and make 1.85% and thats just conservative. Open a Fidelity and buy a couple of ETFs that would net you 3-5% (still safe). This whole cash only nonsense is absurd. This is why people are broke they don't know how to manage their money.

Agreed

And yet many buy expensive jewelry that they neither need or can afford.

Such is the state of our society.

[Peter99]

Cash.
The coffers were getting a bit full so I put my toe in and bought the Wife a small SS datejust with a white gold faceted bezel for a Christmas present.
Which she was very pleased with and still likes it a lot now.
So, a few months later I bought myself an Exp 39mm Mk1 and a couple years after that I went for a black SubC with date.
I am very pleased with both!
So it is smiles around!

[Etschell]

Originally Posted by beshannon

Agreed

And yet many buy expensive jewelry that they neither need or can afford.

Such is the state of our society.

depends on the purchase price. for 10k you are taking less than 150 a year before tax. for me id rather just buy it.

i know it wasnt you who said about etfs but etfs are not so safe you can bank it wont go down in 3 years....

[Etschell]

Originally Posted by beshannon

Agreed

And yet many buy expensive jewelry that they neither need or can afford.

Such is the state of our society.

depends on the purchase price. for 10k you are taking less than 200 a year before tax. for me id rather just buy it.

i know it wasnt you who said about etfs but etfs are not so safe you can bank it wont go down in 3 years....

[uniqueMR]

Cash

[offrdmania]

I have an older 3% cash back card that I use for my watch purchases. I love it because after a month I just pay it off and request the 3% back as a check.

[Calatrava r]

Everybody says cash. Problem with that is its earned income which you have paid taxes on. Another option if you can do it is to add a Line of Credit mortgage which has a low interest rate. Too bad no longer deductible. Find a watch you want put it on your LOC. When its paid off, look for another watch if your so inclined. You spread the cost of an expensive watch over a few tax years at a small interest charge and still have money to invest yearly into something productive instead of losing it all to a watch purchase in one year.

[Spence4]

Uncut diamonds

[Uggi]

We live in a strange time where the cost of borrowing (0% for 3 years for anyone who cares to look for it) is way lower than the benefit of saving (40% tax relief on pension growing at 3% pa minimum or a straight 5% pa in share ISA is easily achievable) so anyone paying for anything in cash is not living wisely or in the present. Buy your Hulk for £10k interest free for 3 years on finance and put your £10k cash into pension investments at a minimum of 3% pa growth with instant 40% tax relief.
Total no brainer. The only thing I pay for in cash in window cleaning.

[Rolerx]

I personally pay cash because I only want to buy what I can afford


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[golfcoursehero]

Who the eff finances a Rolex?

[J_1964]

Cash, Always.

[J_1964]

Originally Posted by albmich

always cash. I don't believe in buying things you can't afford

+1