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FrankNYC · 20 February 2013, 01:16 PM

I'm on my second attempt to purchase a SS Patek Nautilus--my hands-down, grail piece. During the summer I found one almost new (99.5%) box/papers, the works from a reputable shop in NYC. They were asking $22K cash (down from 23.5).
After going to the bank and withdrawing $22,000 in $100 bills, I just couldn't do it! That much cash in my hands was too much; I was nervous carrying so much cash, hidden, yet I was willing to plunk it down on a watch that I was going to wear and bang-up? It seems like no big deal looking at all those numbers in my bank account, yet when it's cash (even though 22k was just a small fraction of what I have in my account) I start to sweat and get nervous.

Has this ever happened to anyone else?

East Bay Rider · 20 February 2013, 02:01 PM

No but I can certainly understand it.
IMO that's better than buyer's remorse.

Kingair · 20 February 2013, 02:05 PM

Quote:

Originally Posted by FrankNYC

I'm on my second attempt to purchase a SS Patek Nautilus--my hands-down, grail piece. During the summer I found one almost new (99.5%) box/papers, the works from a reputable shop in NYC. They were asking $22K cash (down from 23.5).
After going to the bank and withdrawing $22,000 in $100 bills, I just couldn't do it! That much cash in my hands was too much; I was nervous carrying so much cash, hidden, yet I was willing to plunk it down on a watch that I was going to wear and bang-up? It seems like no big deal looking at all those numbers in my bank account, yet when it's cash (even though 22k was just a small fraction of what I have in my account) I start to sweat and get nervous.

Has this ever happened to anyone else?

Might be a sign that you where not ready yet . . . and I really think that is was a good idea to pass . . .

Probably you will redo it i a few years . . .

HAGOne

benlee · 20 February 2013, 02:47 PM

So did you bought it in the end?

Thatguy · 20 February 2013, 02:49 PM

No, a watch looks better than a bunch of dirty paper. A good trade IMHO! :)

GradyPhilpott · 20 February 2013, 03:53 PM

Were there no options to paying with cash?

I just put a $20,000 down payment on a car.

Although an acquaintance suggested that I should fill a briefcase full of cash to take to the dealership, I decided to simply write them a check.

That car is all nice and shiny now, but you know that in a year or so, it'll have some chips and scratches, too.

That shouldn't dissuade you from having your grail, if that's what you really want and if you don't really want that, there's no shame in that, either.

iLLGT2 · 20 February 2013, 04:21 PM

Normal I think. For most! I felt that way with my ap forged carbon purchase, now I'm over it and have enjoyed it so much.. The value is still there if you buy right

Now I constantly look in that range or higher, it's a never ending cycle lol

gmh1013 · 20 February 2013, 04:50 PM

I did it on a TT Sub blue face last year for 7k
knowing my wife would kill me....
Almost bought a Triumph Bonneville a few weeks ago in Katy TX but backed out for the same reason.....I was going to use a Discover card but realized that I would "discover" I would soon be divorced.
That reason has stopped me many times......but she can blow thousands on some purse that she uses a few times and then sits in a closet full of clothes that she has nothing to wear...
I need a bigger house because she has filled this house with crap.....and we are retired
Right now I only have two Rolex's one GMT I bought second hand and a TT Datejust my bother gave me because its small for his 6'4 frame.

kilyung · 20 February 2013, 05:04 PM

Two words... WIRE TRANSFER

Grumpy Badger · 20 February 2013, 05:36 PM

In the UK it's a pain in the backside to pay cash for anything over £10,000. At that point the Money Laundering checks kick in and the retailer is obliged to record a lot more details about you so much better to pay on a Debit Card.

As to what you spend your money on and what proportion you spend that's up to you, but if I've made up my mind to buy something I buy it. Espesially if you've already negotiated a mutually agreed price...
Although the deal may not be legally binding at that point I consider it a gentlemans agreement and wouldn't then drop out.

bayerische · 20 February 2013, 06:27 PM

Quote:

Originally Posted by Grumpy Badger

In the UK it's a pain in the backside to pay cash for anything over £10,000. At that point the Money Laundering checks kick in and the retailer is obliged to record a lot more details about you so much better to pay on a Debit Card.

As to what you spend your money on and what proportion you spend that's up to you, but if I've made up my mind to buy something I buy it. Espesially if you've already negotiated a mutually agreed price...
Although the deal may not be legally binding at that point I consider it a gentlemans agreement and wouldn't then drop out.

This.

When I've made up my mind, I'm going for it.

Andad · 20 February 2013, 06:34 PM

I can only dream of having that much money.

ROGERWILCO357 · 20 February 2013, 06:54 PM

I get it all that money for a watch , that is why i have my wife carry it in her purse lol. I buy coins and such much easier when i trade in paper for gold ,silver or diamonds . And turning that back to paper (cash) is fun at times..good luck on your purchase .
Roger

FrankNYC · 20 February 2013, 10:57 PM

Quote:

Originally Posted by benlee

So did you bought it in the end?

No, but now I'm reconsidering hunting a SS Nautilus again. This time I might just do a wire transfer, as Kilyung suggested.

FrankNYC · 20 February 2013, 11:04 PM

Quote:

Originally Posted by Grumpy Badger

In the UK it's a pain in the backside to pay cash for anything over £10,000. At that point the Money Laundering checks kick in and the retailer is obliged to record a lot more details about you so much better to pay on a Debit Card.

As to what you spend your money on and what proportion you spend that's up to you, but if I've made up my mind to buy something I buy it. Espesially if you've already negotiated a mutually agreed price...
Although the deal may not be legally binding at that point I consider it a gentlemans agreement and wouldn't then drop out.

We didn't agree on the price nor seal the deal in anyway; he just said that if I wanted it, it could be had for $22k Cash. I kinda wished he took it out of display to hold it for me and told me it was a deal--it would have been harder for me to not go through with it

We have the same thing in the US with regard to money laundering. Anything over $10,000 has to be reported. Anything under $10,000 is also reported if it looks like you are to circumvent the reporting requirements. I learned this after spending a fair amount on renovating my house, cash. I would take out $9,000+- a week to pay for supplies and workers and they thought I was laundering money

Really no big deal if you have a plausible explanation. The investigation last 5 seconds

FrankNYC · 20 February 2013, 11:08 PM

Quote:

Originally Posted by GradyPhilpott

Were there no options to paying with cash?

I just put a $20,000 down payment on a car.

Although an acquaintance suggested that I should fill a briefcase full of cash to take to the dealership, I decided to simply write them a check.

That car is all nice and shiny now, but you know that in a year or so, it'll have some chips and scratches, too.

That shouldn't dissuade you from having your grail, if that's what you really want and if you don't really want that, there's no shame in that, either.

Cash seems so much easier. The whole bank transfer thing to me is pain. Credit card/debit where I wanted to buy was with a $1,500 premium! This is to cover fees and taxes, I guess, since I'm sure that $22k would not have been reported to the tax man

Lgear080 · 20 February 2013, 11:34 PM

I don't complete any deal I'm not 100% certain about.
I also don't back out on deals which are mutually agreed
Upon. To that end I don't agree to deals I'm not 100%
Certain about.

$22k is a lot of cash. You can travel and enjoy yourself
The world over with those funds. I'd suggest taking a trip
To clear your head about that purchase if you're reconsidering
On the way to the store. Nothing quite like disconnecting
For perspective. There will always be watches for sale.
You will not always have money.

AzPaul · 20 February 2013, 11:44 PM

I think we all have a different price point for what's simply 'too much'.
Sometimes it might be about the money but it also might be about what you're comfortable walking around with on your wrist.
The bottom line is: If it's not right for you, your little voice will tell you. You were smart to listen.

Rodentman · 21 February 2013, 01:15 AM

Soon it will be bonus time at work. I had my eye on a star sapphire ring. Then I dreamed that I had bought it, took it to another jeweler for an appraisal and the stone appraised at $43.

I interpret this as a sign from above that I should not buy it. It's several G's and I don't know how well I'd do negotiating the price on this.

figbo · 21 February 2013, 01:41 AM

Quote:

Originally Posted by directioneng

I can only dream of having that much money.

I call that bragging,Eddie.

Stonedcl · 21 February 2013, 01:58 AM

Buy now with the way that the fed is printing that paper you will be happy you bought that watch. The watch will still be worth something in 10 years where that paper will be compost!

watchupee · 21 February 2013, 02:06 AM

All i know is that I have never been Wrong listening to my gut. Whenever it doesn't feel right and I push it anyway, that's when I have made bad decisions. I think you did the right thing. 22k is no chump change, hell, it's more than a lot if people make in a year.

Hooper · 21 February 2013, 03:07 AM

That is a lot of Doe!! However, if it's really what you want and you can afford it and most of all, your family doesn't suffer because of it, then go for it! It definitley is a want, not a need! But, you only live once and you won't regret it on your death bed! That being said, you could always put it towards you kids or future kids college funds to put the guilty mind at ease!

sdwtchlvr · 21 February 2013, 03:34 AM

If it's just a small fraction of what's in your account, I say go for it...what the heck. You'll never miss it.

Lucky777 · 21 February 2013, 07:54 AM

If you truly wasted it it wouldn't have seemed like that bad. I bought my last boat in cash, Shop Rite bag filled with $. The seller knocked almost $25k off the price..

Cesium133 · 21 February 2013, 11:10 AM

Haven't been in that situation but I have walked around with that kind of money for one reason or another in my life. The funny thing is you go to the bank and think you'll be walking out like this...

But it turns out to only be like this...

GradyPhilpott · 21 February 2013, 11:52 AM

Quote:

Originally Posted by Cesium133

Haven't been in that situation but I have walked around with that kind of money for one reason or another in my life. The funny thing is you go to the bank and think you'll be walking out like this...

But it turns out to only be like this...

I guess that shows how little I know about money.

FrankNYC · 21 February 2013, 12:02 PM

I think I will wait a bit before attempting it again, but eventually, it will be mine:-) At some point in our lives we do have to start drawing down on our savings and enjoy. At this point in my life, however, I am still in saving mode.
There's a saying: "Live like a rat, die like a king." I certainly want to enjoy what I've worked so hard for, but I also don't want to die a pauper.

donas · 21 February 2013, 01:35 PM

I was definitely nervous when I bought my 116619, and thought "what have I done" when I wired the money.....but I love wearing it and don't regret it a bit. Every now and then, during the numerous times I stare at it, I think about the expense and then just think of how happy it makes me.

.....and let me add, I am secure in my bills, but that WAS a large chunk of the account at that time; still worth every penny.

Kingair · 21 February 2013, 02:00 PM

I paid my GMT yesterday . . cash . . . or I had to pay more . . .

If Mrs can buy some Hermes Birkins . . . I can buy some Rolex . . .

But neither of us make any problems out of it when we go ahead with such a purchase . . . yesterday she was standing next to me when I bought it . . .

I smiled at here . . . and gave her a kiss . . . ;-)

HAGOne

20 February 2013, 01:16 PM	#1
FrankNYC 2024 Pledge Member Join Date: Aug 2012 Location: New York Watch: SubC & Red;JLC RDM Posts: 1,039	Anyone NOT pull the trigger on a new piece after getting cash from the bank? I'm on my second attempt to purchase a SS Patek Nautilus--my hands-down, grail piece. During the summer I found one almost new (99.5%) box/papers, the works from a reputable shop in NYC. They were asking $22K cash (down from 23.5). After going to the bank and withdrawing $22,000 in $100 bills, I just couldn't do it! That much cash in my hands was too much; I was nervous carrying so much cash, hidden, yet I was willing to plunk it down on a watch that I was going to wear and bang-up? It seems like no big deal looking at all those numbers in my bank account, yet when it's cash (even though 22k was just a small fraction of what I have in my account) I start to sweat and get nervous. Has this ever happened to anyone else?

20 February 2013, 02:01 PM	#2
East Bay Rider "TRF" Member Join Date: Oct 2007 Real Name: Bill Location: East Bay RI Watch: GMT-II 16710LN Posts: 12,074	No but I can certainly understand it. IMO that's better than buyer's remorse. __________________ I bought a cheap watch from the crazy man Floating down canal It doesn't use numbers or moving hands It always just says "now" Now you may be thinking that I was had But this watch is never wrong And if I have trouble the warranty said Breathe In, Breathe Out, Move On J. Buffett Instagram: eastbayrider46

20 February 2013, 03:53 PM	#6
GradyPhilpott 2024 SubLV41 Pledge Member Join Date: Sep 2008 Location: New Mexico Watch: Seiko #SRK047 Posts: 34,460	Were there no options to paying with cash? I just put a $20,000 down payment on a car. Although an acquaintance suggested that I should fill a briefcase full of cash to take to the dealership, I decided to simply write them a check. That car is all nice and shiny now, but you know that in a year or so, it'll have some chips and scratches, too. That shouldn't dissuade you from having your grail, if that's what you really want and if you don't really want that, there's no shame in that, either. __________________ JJ Inaugural TRF $50 Watch Challenge Winner

20 February 2013, 05:36 PM	#10
Grumpy Badger "TRF" Member Join Date: Mar 2011 Real Name: Mark Location: Bonny Scotland Watch: 14060M Sub (cosc) Posts: 5,280	In the UK it's a pain in the backside to pay cash for anything over £10,000. At that point the Money Laundering checks kick in and the retailer is obliged to record a lot more details about you so much better to pay on a Debit Card. As to what you spend your money on and what proportion you spend that's up to you, but if I've made up my mind to buy something I buy it. Espesially if you've already negotiated a mutually agreed price... Although the deal may not be legally binding at that point I consider it a gentlemans agreement and wouldn't then drop out. __________________ Don't mind me. I'm full of scotch, bitterness and impure thoughts! "You have enemies? Good! That means you stood up for something, sometime in your life." Sir Winston Leonard Spencer-Churchill KG, OM, CH, TD, PC, DL, FRS.

20 February 2013, 06:34 PM	#12
Andad 2024 SubLV41 Pledge Member Join Date: Nov 2006 Real Name: Eddie Location: Australia Watch: A few. Posts: 37,534	I can only dream of having that much money. __________________ E

20 February 2013, 02:47 PM	#4
benlee "TRF" Member Join Date: Dec 2012 Real Name: Ben Location: SIN & JKT Watch: Rolex, AP, PP Posts: 9,874	So did you bought it in the end?

20 February 2013, 02:49 PM	#5
Thatguy "TRF" Member Join Date: Oct 2012 Real Name: Wayne Location: California Watch: Rolex, PAM Posts: 3,302	No, a watch looks better than a bunch of dirty paper. A good trade IMHO! :)

20 February 2013, 04:21 PM	#7
iLLGT2 "TRF" Member Join Date: Aug 2011 Real Name: Martin Location: NY And FLA Watch: AP ROO Blue Scuba Posts: 2,695	Normal I think. For most! I felt that way with my ap forged carbon purchase, now I'm over it and have enjoyed it so much.. The value is still there if you buy right Now I constantly look in that range or higher, it's a never ending cycle lol

20 February 2013, 04:50 PM	#8
gmh1013 Banned Join Date: Jun 2008 Real Name: greg Location: Tempe AZ Watch: GMT Posts: 5,703	I did it on a TT Sub blue face last year for 7k knowing my wife would kill me.... Almost bought a Triumph Bonneville a few weeks ago in Katy TX but backed out for the same reason.....I was going to use a Discover card but realized that I would "discover" I would soon be divorced. That reason has stopped me many times......but she can blow thousands on some purse that she uses a few times and then sits in a closet full of clothes that she has nothing to wear... I need a bigger house because she has filled this house with crap.....and we are retired Right now I only have two Rolex's one GMT I bought second hand and a TT Datejust my bother gave me because its small for his 6'4 frame.

20 February 2013, 05:04 PM	#9
kilyung 2024 SubLV41 Pledge Member Join Date: Jul 2009 Location: Cave Watch: Sundial Posts: 33,940	Two words... WIRE TRANSFER

20 February 2013, 06:54 PM	#13
ROGERWILCO357 Member Join Date: Aug 2011 Location: Michigan Watch: Submariner LV Posts: 580	I get it all that money for a watch , that is why i have my wife carry it in her purse lol. I buy coins and such much easier when i trade in paper for gold ,silver or diamonds . And turning that back to paper (cash) is fun at times..good luck on your purchase . Roger

20 February 2013, 11:34 PM	#17
Lgear080 Banned Join Date: Sep 2010 Location: NYC Posts: 3,506	I don't complete any deal I'm not 100% certain about. I also don't back out on deals which are mutually agreed Upon. To that end I don't agree to deals I'm not 100% Certain about. $22k is a lot of cash. You can travel and enjoy yourself The world over with those funds. I'd suggest taking a trip To clear your head about that purchase if you're reconsidering On the way to the store. Nothing quite like disconnecting For perspective. There will always be watches for sale. You will not always have money.

20 February 2013, 11:44 PM	#18
AzPaul 2024 ROLEX SUBMARINER 41 Pledge Member Join Date: May 2012 Real Name: Paul Location: Tucson, Az Watch: Rolex 1501 Posts: 13,903	I think we all have a different price point for what's simply 'too much'. Sometimes it might be about the money but it also might be about what you're comfortable walking around with on your wrist. The bottom line is: If it's not right for you, your little voice will tell you. You were smart to listen. __________________ Ain't much of a crime, whacking a surly bartender

21 February 2013, 01:15 AM	#19
Rodentman Banned Join Date: Aug 2005 Real Name: ACCT CLOSED Location: - Posts: 1,497	Soon it will be bonus time at work. I had my eye on a star sapphire ring. Then I dreamed that I had bought it, took it to another jeweler for an appraisal and the stone appraised at $43. I interpret this as a sign from above that I should not buy it. It's several G's and I don't know how well I'd do negotiating the price on this.

21 February 2013, 01:58 AM	#21
Stonedcl "TRF" Member Join Date: Mar 2011 Location: Nj Watch: 116200, 116610 Posts: 1,191	Buy now with the way that the fed is printing that paper you will be happy you bought that watch. The watch will still be worth something in 10 years where that paper will be compost!

21 February 2013, 02:06 AM	#22
watchupee "TRF" Member Join Date: Sep 2010 Location: usa Watch: Cell phone Posts: 140	All i know is that I have never been Wrong listening to my gut. Whenever it doesn't feel right and I push it anyway, that's when I have made bad decisions. I think you did the right thing. 22k is no chump change, hell, it's more than a lot if people make in a year.

21 February 2013, 03:07 AM	#23
Hooper "TRF" Member Join Date: Mar 2010 Real Name: Tony Location: Ontario, Canada Watch: 16610 Posts: 3,290	That is a lot of Doe!! However, if it's really what you want and you can afford it and most of all, your family doesn't suffer because of it, then go for it! It definitley is a want, not a need! But, you only live once and you won't regret it on your death bed! That being said, you could always put it towards you kids or future kids college funds to put the guilty mind at ease!

21 February 2013, 03:34 AM	#24
sdwtchlvr "TRF" Member Join Date: Sep 2008 Location: SoCal Watch: Rolex Posts: 1,308	If it's just a small fraction of what's in your account, I say go for it...what the heck. You'll never miss it.

21 February 2013, 07:54 AM	#25
Lucky777 "TRF" Member Join Date: Jun 2012 Real Name: Steve Location: NJ Watch: Rolex 16610 Posts: 2,160	If you truly wasted it it wouldn't have seemed like that bad. I bought my last boat in cash, Shop Rite bag filled with $. The seller knocked almost $25k off the price..

21 February 2013, 11:10 AM	#26
Cesium133 "TRF" Member Join Date: Sep 2012 Location: USA Posts: 2,037	Haven't been in that situation but I have walked around with that kind of money for one reason or another in my life. The funny thing is you go to the bank and think you'll be walking out like this... But it turns out to only be like this...

21 February 2013, 12:02 PM	#28
FrankNYC 2024 Pledge Member Join Date: Aug 2012 Location: New York Watch: SubC & Red;JLC RDM Posts: 1,039	I think I will wait a bit before attempting it again, but eventually, it will be mine:-) At some point in our lives we do have to start drawing down on our savings and enjoy. At this point in my life, however, I am still in saving mode. There's a saying: "Live like a rat, die like a king." I certainly want to enjoy what I've worked so hard for, but I also don't want to die a pauper.

21 February 2013, 01:35 PM	#29
donas Banned Join Date: Jul 2008 Real Name: Wade Location: TN Watch: 116619 Posts: 2,659	I was definitely nervous when I bought my 116619, and thought "what have I done" when I wired the money.....but I love wearing it and don't regret it a bit. Every now and then, during the numerous times I stare at it, I think about the expense and then just think of how happy it makes me. .....and let me add, I am secure in my bills, but that WAS a large chunk of the account at that time; still worth every penny.

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