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.

[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?

[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.

[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?

[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.

[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 ;>)

[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.

[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!!

[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

[accce]

Originally Posted by bradabeattie

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

Before or after taxes?

[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.

[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'

[Alanautumn]

Originally Posted by accce

Before or after taxes?

Before!

[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.

[jrgannon]

at least 300K with no other debt than a mortgage

[singe89]

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

[benlee]

Actually it is not income per see but disposable income. That is income you can spend after less family commitment, essential living expenses, monthly savings and other expenses you might prioritize before buying a watch. If after less all these, there is still money left for a watch budget, then yes. That's just my opinion.

[skypilot]

The problem is not the amount of your income, the problem is your wife. If I had asked my wife about buying my toys, I wouldn't have gotten any of them. It is an axiom of married life that one seeks forgiveness, not permission.

[psv]

If you have to ask, you cannot afford it...

[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.

[Stonedcl]

I am in the car biz and sales.. MY paychecks go to my wife and my spins and bonuses go to my watch funds.. Thus far I bought a datejust (1st NICE watch) and then I got hooked...
Since then I have been working extra hard I bought a SUB-C, Tudor pre-tiger, AP moonphase (that i sold to fund my true grail) Patek 5167.. My bills get paid My wife is happy and I am happy.. If I was to guess I would say 20% of take home so if you take home 100K after taxes then spend 20K on a watch.. If you buy the watch right then its like money in the bank ..

[aeon888]

That's okay. Most people buy cars or trucks at $25k to $60k price even though the value of the vehicle would depreciate so much in 5 or 10 yrs or 15 yrs.

But your 25k watch may have little depreciation or none at all, depends.
And dont forget the thousands of dollars you have to spend on gas, maintenance, repairs, insurance, and accessories or mods to your vehicle. That adds up.

So, go ahead buy that collectible 25k watch.