Collector....compulsive...addict?

[SilverFoxUK]

So you start off with one Rolex...wow that was a heck of a lot to spend on one luxury item! A few years later your AD has been good with you and you have 3 or 4 Rolexes. It cost a lot but, you're getting the sought after models so you can justify the spend... it's a win win. If you had to sell them all for some reason, you'd break even at least. Fast forward a year or two more and you're into Pateks as well as Rolexes. You find that you're a little embarrassed to admit how much you have spent in total. However there are other watches you would love to add. May have to buy a 'not-so-sought after' model to get that grail watch etc etc
Does anyone recognize this pattern and think it's dangerous? Obviously if your spend is say <5% of your total wealth...no worries. With me the percentage is getting quite high...I think I might need an intervention or watch rehab or something

[Amochosto]

Originally Posted by SilverFoxUK

So you start off with one Rolex...wow that was a heck of a lot to spend on one luxury item! A few years later your AD has been good with you and you have 3 or 4 Rolexes. It cost a lot but, you're getting the sought after models so you can justify the spend... it's a win win. If you had to sell them all for some reason, you'd break even at least. Fast forward a year or two more and you're into Pateks as well as Rolexes. You find that you're a little embarrassed to admit how much you have spent in total. However there are other watches you would love to add. May have to buy a 'not-so-sought after' model to get that grail watch etc etc
Does anyone recognize this pattern and think it's dangerous? Obviously if your spend is say <5% of your total wealth...no worries. With me the percentage is getting quite high...I think I might need an intervention or watch rehab or something

Sums it up nicely..

[Fat_ninja]

I keep it to a certain amount once. I start getting to that amount. I start thinning out the collection and really think about what I want to keep. It’s a hobby and I just don’t want too much money in it...makes it less fun. 2020 will be a neutral to less watches for me

[APPRF]

Originally Posted by SilverFoxUK

So you start off with one Rolex...wow that was a heck of a lot to spend on one luxury item! A few years later your AD has been good with you and you have 3 or 4 Rolexes. It cost a lot but, you're getting the sought after models so you can justify the spend... it's a win win. If you had to sell them all for some reason, you'd break even at least. Fast forward a year or two more and you're into Pateks as well as Rolexes. You find that you're a little embarrassed to admit how much you have spent in total. However there are other watches you would love to add. May have to buy a 'not-so-sought after' model to get that grail watch etc etc
Does anyone recognize this pattern and think it's dangerous? Obviously if your spend is say <5% of your total wealth...no worries. With me the percentage is getting quite high...I think I might need an intervention or watch rehab or something

Yes all true. Addiction is correct 100% , most go same process in stages. Finished stage 1, and in stage 2 now. Hoping to get through stage 3 (PP,AP,VC) stage with minimal damage. Only difference I feel happy and confident, I hope I don't experience the embarrassed stage later.

[10klakes]

Same rational could be applied to lesser expensive hobbies, as well as more expensive. Most people have a hobby, a passion, something they enjoy, or even collect. It’s usually coincides with their financial means (hopefully).

Watches take up very little space, they can be worn and appreciated daily, and if we are talking Rolex (we are on TRF), you can get in/out of them pretty easily.

[Tridor]

I have 4 watches ... 3 Rolexes (a DD, DJ, and SubC Date), and my late Dad's 1950's Longines (the watch that lured me into this hobby). At this point, I've decided that if I buy another Rolex or other brand, then one of the current stable will have to go in exchange. That way, I limit my downside, while keeping the pieces I know I'm going to wear and enjoy.

[watchwatcher]

Originally Posted by 10klakes

Watches take up very little space, they can be worn and appreciated daily, and if we are talking Rolex (we are on TRF), you can get in/out of them pretty easily.

So very true.

I learned a long time ago that watches were my jam. I could get a thrill every time I put one on, or looked at the time, for that matter. And I could dump them if I needed the money and was no worse for the wear.

Now, when you start talking addictive or compulsive behavior, it certainly can be damaging. Any such sort of behavior has its pitfalls. I think the key is awareness. It's only when you don't know you're lost that you're really lost.

[ap1]

I think a cap on spending makes a lot of sense. At some point, one In one out. Even better if no new funds added when changing things around. Hard to practice what preach

[Rolex_AG]

My thought is to limit it to a certain number. For me that’s currently 5.

So if you wanna add one, one or more have to go.

[locutus49]

I switched from watches to pain pills. It is less expensive and just as fun. (*_*)

[Gdoc26]

I feel ya. I just added number 10 this week after promising I would not add a watch this year, didn't make it 10 days. After seven rolex, got on a little omega kick and just picked up a seamaster chrono in blue. That adds to my moonphase and blue triple date speedies. I don't see any more holes in my collection now, but I've said that before. I keep a close watch on the market value of my collection to justify the spend in my mind, but I do enjoy them. I have a six place winder so minus the one on my wrist, 3 of them don't stay current time because the rotation is more than a week now.

[Fat_ninja]

Originally Posted by locutus49

I switched from watches to pain pills. It is less expensive and just as fun. (*_*)

[Mystro]

A addiction is an addiction. It can come in many forms. What scary that we see more often on this forum is the approval from social media with their purchase which fuels the next purchase.

It’s the....”I just purchased X Rolex, now what is the next one I should be going after??” How about enjoying what you have and see how it fits into your lifestyle. If you purchased correctly, you shouldn’t need another. Even more disturbing is those buying these luxury watches and struggling to afford them within their overall lifestyle. Having to eat Bologna and hotdogs to afford a Rolex isn’t “living the dream” in the grand scheme of life.
Watches are not a investment regardless how it’s twisted to enable a expensive luxury purchase.

[Token74]

Originally Posted by SilverFoxUK

So you start off with one Rolex...wow that was a heck of a lot to spend on one luxury item! A few years later your AD has been good with you and you have 3 or 4 Rolexes. It cost a lot but, you're getting the sought after models so you can justify the spend... it's a win win. If you had to sell them all for some reason, you'd break even at least. Fast forward a year or two more and you're into Pateks as well as Rolexes. You find that you're a little embarrassed to admit how much you have spent in total. However there are other watches you would love to add. May have to buy a 'not-so-sought after' model to get that grail watch etc etc

Does anyone recognize this pattern and think it's dangerous? Obviously if your spend is say <5% of your total wealth...no worries. With me the percentage is getting quite high...I think I might need an intervention or watch rehab or something

Yep, that’s what happened to me! Got out of hand! And now I’m looking at Richard Mille for goodness sake!!


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[scarlet knight]

I did switch to collecting Seikos instead of Rolexes, so I am spending $300 a shot instead of $10,000.00. I also retired, so with my income lower, I feel naturally more restrained. It is a thin line between collecting and obsession. The good news is that high end watches have resale value, almost an investment.

[kans86]

Addictive... could be true. Once my collection grew to around 15, including heavy pieces such as Platona and few more Daytonas. But then I decided to cut back the number to currently 6-8 for a good rotation. Now I try to keep a cap on my expenses on watches, around 100k, unless something exciting coming up.

[Jona]

I never consider watches investments. There is value there to be sure, but I consider it a "last resort" if something happens to me and I need to move to Seizures Palace.

I have several costly hobbies. Now that I am retired I am turning my attention to my audio system. Got new amp, DVD player, and sub. Speakers are next. It's not truly high end, I want to spend no more than $10k and am looking at speakers next. It's a lot more enjoyable to take a break from collecting watches that sit around.

[Rori]

I have 3, one permanently with my wife, 2 with me and I'm thinking to get rid of one. I just can't adapt myself to 2 watches. Always been a one-watch-man.

[Ichiran]

I have spent a lot of money on watches which could have been spent on ... oh wait, I will still be spending on other material goods...

[calebb90]

Originally Posted by Fat_ninja

I keep it to a certain amount once. I start getting to that amount. I start thinning out the collection and really think about what I want to keep. It’s a hobby and I just don’t want too much money in it...makes it less fun. 2020 will be a neutral to less watches for me

That's easy to say before Basel & SIHHH. Let's chat again in Apri.

[noshake]

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[Rori]

Originally Posted by locutus49

I switched from watches to pain pills. It is less expensive and just as fun. (*_*)

[Bizcut1]

Originally Posted by Fat_ninja

I keep it to a certain amount once. I start getting to that amount. I start thinning out the collection and really think about what I want to keep. It’s a hobby and I just don’t want too much money in it...makes it less fun. 2020 will be a neutral to less watches for me

I'm with you here. At least, that's the concept. Sometimes, though...

[10klakes]

Originally Posted by locutus49

I switched from watches to pain pills. It is less expensive and just as fun. (*_*)

I can just about imagine the threads if there was such a forum....

Is it safe...?
No product available...
My dealer told me...
Purchase advice needed...

The incoming posts would be awesome!

[noshake]

I'd like to stay within the 50k-75k range. 4-6 watches. I dont plan on buying in 2020.That being said if something I like is released at Basel this year .

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[davidb]

I try to offset my "addictions" with financial contributions to my community. I'm in a very fortunate place in my life and I like to "share the wealth". Life is good.

[DJTOSUB]

Originally Posted by SilverFoxUK

It cost a lot but, you're getting the sought after models so you can justify the spend... it's a win win. If you had to sell them all for some reason, you'd break even at least.

This is a major reason why Rolex demand is so strong.

What other luxury goods can you buy and enjoy with "seemingly" no financial downside?

[FATO]

Originally Posted by Fat_ninja

I keep it to a certain amount once. I start getting to that amount. I start thinning out the collection and really think about what I want to keep. It’s a hobby and I just don’t want too much money in it...makes it less fun. 2020 will be a neutral to less watches for me

I have difficulty thinning out the heard. It’s like asking which of my kids do I want to put up for adoption. . Can OP add another category? ....”sickness”


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[minhc88]

Any one here pushing close to 25% of their net worth on watches? YOLO mentality

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[AK797]

Once you get to 3 or 4 it's best to have a 1 in 1 out policy so you really scrutinize if you really do want that other watch.