New Money vs. Old Money

[jjnd08]

Originally Posted by MonBK

Old money don't go to Starbucks.

[Dilemma]

Originally Posted by padi56

What the hell is new money guy.

West Egg.

[Culley22]

Real old money here!!!!

[mgent]

Originally Posted by azguy

It's clear that new money guys buy more expensive watches

Is this actually true? Or is the fact that you saw a bunch of nice watches in a 'new money' town (also to be debated) mean you assumed that all the owners were 'new money'? I know lots of people with nice watches, and they come from all walks of life, and buy the watches they like. First time executives with Pateks and heirs with Rolex... Most also own a number of watches, like many on this forum, so trying to make an assumption based on what is worn at any given time can be very misleading...

I've never been a fan of the new vs old money discussions, as I don't quite understand the basis of them... If someone's family was successful, does that make them somehow less deserving? If someone made it on 'their own' does that somehow make them more deserving? What about a wealthy person who is successful in their own right? Are they never really considered successful, since most outside can't differentiate between earned and inherited? Or is the person from a less-wealthy family, who is now middle-class considered more successful?

[gmh1013]

In north Snottsdale im sure they are a dime dozen....down where I live in Ahwatukee with the old folks not so much.

[seand442]

Originally Posted by azguy

Buys rollie with credit card and sells it a year later to get caught up on car payments

You're talking about the $30000, Snottsdale millionaire.

[gmh1013]

Originally Posted by seand442

You're talking about the $30000, Snottsdale millionaire.

I know many and worked with some.

[azguy]

Originally Posted by seand442

You're talking about the $30000, Snottsdale millionaire.

They're everywhere, more around Old Town than North Scottsdale.

My point was people on this forum make comments about seeing this or that and approaching people in public to talk about there watch like it's as rare a lunar eclipse. I saw a couple dozen in 24 hrs.......

.....and 8 today while at Fashion Square Mall for lunch.....

[seand442]

Originally Posted by azguy

They're everywhere, more around Old Town than North Scottsdale.

My point was people on this forum make comments about seeing this or that and approaching people in public to talk about there watch like it's as rare a lunar eclipse. I saw a couple dozen in 24 hrs.......

.....and 8 today while at Fashion Square Mall for lunch.....

I got ya. Kinda like Vegas. Not as rare as some might lead you to believe.

[watchdog507]

It's a fact of life that there are posers everywhere. We have them by the trainload in the GTA. I come across them in my business dealings. Some of the comments implied a disparagement to inherited wealth? I didn't see that here. I know many successful and charitable people who didn't really need to work a day of their lives if they did not want to. Yet they built careers and passed on their values to their children. I don't really know any idle rich. I do know many who would like to become idle and rich. They fall into the poser category.

[Hairdude1]

I have to say whenever I am in scottsdale I see to many rolex's to count

[DCheeta]

Originally Posted by Dilemma

West Egg.

Now that, sir, was clever!

Leave it to a MN boy to tie together Fitzgerald and Padi's breakfast. (of course I was born there, too.. )

[gougy]

I know some Old money (really Old, not just couple of hundred years) and he wears IWC BP
Probably playing some "I am New Money guy" game

[rolexgiants]

Originally Posted by azguy

It's clear that new money guys buy more expensive watches, I was in Starbucks on Friday morning and while waiting in line I saw a SD, TT Sub and DJ, thank God I was wearing a Tudor

Then at lunch, I counted 4 more while in a small upscale eating place, so I started keeping count on my phone and through last night 23 Rolex's have been spotted......

Scottsdale is a new money town.

Could be old inherited money by new flashy generation..LOL... Remember arizona has ZERO STATE ESTATE TAX...

[azguy]

Originally Posted by Hairdude1

I have to say whenever I am in scottsdale I see to many rolex's to count

My point exactly, thank you

[pacific17]

Originally Posted by MonBK

Old money don't go to Starbucks.

they make their own coffee at home

[pacific17]

Originally Posted by MonBK

Old money don't go to Starbucks.

they make their own at home

[mgent]

Does anybody believe that Rolex's are actually rare? Don't they sell like 900,000 watches a year? Don't they start at only ~$4k?

APs are a good bit more rare, Patek's even more so.... I bet there weren't 20 of them at starbucks (unless you were on South Beach or in Manhattan)...