Are there any CODEs that sell above retail on the market?

[watchman124]

Originally Posted by SMD

Then you really should not be buying high end watches (or cars). Almost all non-hype pieces lose a lot of money. You don't buy a Calatrava or Vacheron (or countless others) because you think it will hold x% of value. You don't buy a Ferrari because you think it will hold value (SF90 buyers take note). You go in thinking if it goes to zero (or a normal non-covid induced depreciation schedule) it won't impact my life at all. If it will, dont buy it. I didn't care what my watches were worth in 2021 when they were up and dont care now when they are down from there. Simple.

I personally get a kick out of the hunt and enjoy the pieces more knowing I made money on paper/won't lose money if I sold even though I have 0 intention of selling so it's all irrelevant. At least for me - value retention is a box I want checked. My cars I don't seem to care about this as much for some reason. But a toy on my wrist, yeah I want it to hold value since I know it's possible that it can hold value. Just my 2 cents. I know that makes the "enthusiasts" blood boil.

[watchman124]

Originally Posted by codecow

It depends for me. Watches at the AP price point I wouldn’t want to lose my shirt on it, maybe for a single piece but not for a large collection.

Exactly this - put more eloquently than I.

[dauster]

Originally Posted by SMD

Then you really should not be buying high end watches (or cars). Almost all non-hype pieces lose a lot of money. You don't buy a Calatrava or Vacheron (or countless others) because you think it will hold x% of value. You don't buy a Ferrari because you think it will hold value (SF90 buyers take note). You go in thinking if it goes to zero (or a normal non-covid induced depreciation schedule) it won't impact my life at all. If it will, dont buy it. I didn't care what my watches were worth in 2021 when they were up and dont care now when they are down from there. Simple.

lol good for you but who are you to determine whether or not he should be buying (luxury) watches. people have different philosphies and that's fine. You sound like grant cardone - only buy a jet if you can buy it in cash twice and then still dont worry about.

If I buy a ferrari and finance it for 3-4k a month it doesn't bother me but I would be nuts if I would not worry about a total loss.

[WatchEater666]

Originally Posted by SMD

Then you really should not be buying high end watches (or cars). Almost all non-hype pieces lose a lot of money. You don't buy a Calatrava or Vacheron (or countless others) because you think it will hold x% of value. You don't buy a Ferrari because you think it will hold value (SF90 buyers take note). You go in thinking if it goes to zero (or a normal non-covid induced depreciation schedule) it won't impact my life at all. If it will, dont buy it. I didn't care what my watches were worth in 2021 when they were up and dont care now when they are down from there. Simple.

I think this is a personal thing, and it's hard to really say things like this without being in someone else's shoes.

For example, I only get paid every ~3 - 5 years whenever we have a liquidity event like sell a co or whatever, so as a result I am similar to you and live very conservatively. I think of every watch I buy as $0, no personal debt at all, etc...

But if I had a normal job making W2 income, I'd probably be ok with more personal leverage and not mentally thinking of things like watches as worth $0 in my head.

[watchman124]

Originally Posted by WatchEater666

I think this is a personal thing, and it's hard to really say things like this without being in someone else's shoes.

For example, I only get paid every ~3 - 5 years whenever we have a liquidity event like sell a co or whatever, so as a result I am similar to you and live very conservatively. I think of every watch I buy as $0, no personal debt at all, etc...

But if I had a normal job making W2 income, I'd probably be ok with more personal leverage and not mentally thinking of things like watches as worth $0 in my head.

This is funny because I can tell we do something similar, and I view it differently. I'm in M&A and while the good times are good, bad times are bad...and so it's exactly this why I want to ensure I can get out of watches at a reasonable loss in a pinch...my income can be 2/3x up or down in any given year. If for some reason that happens for an extended period of time - watches first thing that would go. Thankfully that doesn't look to be the case anytime soon!

[codecow]

I tend to look at the heavy hitters in my collection as a world cruise fare during retirement. Mrs wants to go on world cruises and I sure as hell am not going to pay for those out of normal income streams. All those heavy bangers cost a fortune to service anyway, so you don’t necessarily want to be holding a large amount of them.

[WatchEater666]

Originally Posted by watchman124

This is funny because I can tell we do something similar, and I view it differently. I'm in M&A and while the good times are good, bad times are bad...and so it's exactly this why I want to ensure I can get out of watches at a reasonable loss in a pinch...my income can be 2/3x up or down in any given year. If for some reason that happens for an extended period of time - watches first thing that would go. Thankfully that doesn't look to be the case anytime soon!

Haha, yeah basically same boat. I'm in PE but an independent sponsor, so I have to come up with decent size GP commit checks on short notice if a stellar deal drops into my lap.