The stock market made me hit the pause button

[rajurama]

Originally Posted by David001

A little bit of a clumsy way to put it but I get you, I think.

For a long time I didn't have a lot of spare cash but I saved and saved and bought my watches, I never considered financial gains, I always assumed that my money was gone forever and it was all about the love of the watch(s).

Nowadays people think you're mad if you don't consider the future sale potential of your luxury watch.

I bought every watch expecting to die with it, so it's financial worth wasn't important. Along the way I sold and traded a few and I got whatever I got.

I'm not buying at the moment because I don't like what the watch scene has become, but yeah I'm getting rinsed on some of my portfolio. I don't expect I'll need to touch it for at least another decade so hopefully it's come good by then.

Yep that's my point conveyed better.

[kirth]

Originally Posted by Frog7151

I will buy when my AD calls no matter what the stock market is doing. I am very fortunate.

Phone rings, Pavlov’s dogs salivate. (Meant as humor, not an insult.)

[Goin2drt]

Originally Posted by rajurama

Yep that's my point conveyed better.

Yeah your point sounded NOTHING like this. I totally agree with @david001 post, nailed it but again his post had really not much to do with the OP and his point of grays taking a bath and maybe some of us will get calls from AD's as they should be holding strong in this downturn.

[JParm]

Originally Posted by Goin2drt

Yeah your point sounded NOTHING like this.

Agree with this.

[Njkdog]

Originally Posted by Goin2drt

Yeah your point sounded NOTHING like this. I totally agree with @david001 post, nailed it but again his post had really not much to do with the OP and his point of grays taking a bath and maybe some of us will get calls from AD's as they should be holding strong in this downturn.

The man just made possibly the most disliked comment on the history of these forums, cut him a little slack. Lol

[Watchcollector123]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

People will find it hard to swallow but there is a lot of truth there even if you have made it too drastic.
Buying a big ticket item should certainly depend on one’s financial situation but not a lot on financial situation around one. Though the financial situation around one can impact one’s financial situation to some extent. What he is implying is that one’s buying decision shouldn’t be dictated by the probability of the watch going up or down in value/price due to the prevailing financial situation. If one is buying a watch purely out of love for watches.

[ajw45]

I'm with you OP. Watches are totally discretionary and emotional purchases. When the market is tanking irrespective of whether you can afford it, it might not feel fun and exciting to drop a chunk of cash on another watch you don't actually need. You may have the cash burning a hole in your pocket when the AD calls but in this market it might be more exciting to put that towards something else or hold for what other opportunities might present as the markets keep falling.

[inadeje]

I will take the pieces I’ve been waiting for at the AD even if there’s q downturn. First comes my passion for the hobby, which is financed with disposable income anyway (always was).

I’ve rarely used grey dealers anyway. Rare exceptions have been some trades in a consolidation scenario and just one watch in 30 years (black dial daytona at 22k)

[101031-28]

I love Rolex, have been a collector since 1988. Watches and exotic cars are my biggest passions but there has ALWAYS been a price point. Given the current situation, it is MSRP or less. And maybe even then I would pass.

[TexEd]

Originally Posted by 101031-28

I love Rolex, have been a collector since 1988. Watches and exotic cars are my biggest passions but there has ALWAYS been a price point. Given the current situation, it is MSRP or less. And maybe even then I would pass.

MSRP or less? So I assume you haven't been buying Rolex's or highly sought after luxury, exotic cars lately.

[drrd]

Originally Posted by rajurama

Yep that's my point conveyed better.

Hmm, not really the same point at all.

David001 explained his own reasons for buying watches.

I read your post as being judgmental of others.

[ajw45]

Originally Posted by 101031-28

I love Rolex, have been a collector since 1988. Watches and exotic cars are my biggest passions but there has ALWAYS been a price point. Given the current situation, it is MSRP or less. And maybe even then I would pass.

Yup. I feel like people are arguing here that the more passionate you are about a hobby the more you have to spend... or that somehow spend = passion. To be sustainable and enjoyable over the long run it also needs to fit each person's subjective concept of value. It may be an antiquated concept in the recent market but it's been true a lot longer than it hasn't that watches and cars were MSRP or less purchases. Part of the joy of the hobby is the hunt, part of the hunt is the price.

[mountainjogger]

Originally Posted by rajurama

Yep that's my point conveyed better.

Let me try also.

I am not a wealthy person by the measure of many on this forum. For me, a purchase of a watch does not happen every day, or even every year. It is a luxury purchase of an item I am passionate about.

At this stage in my life, I only spend money on luxury items that I can 100% afford to loose. So, for me a watch is not part of an investment strategy or thought of as an asset. Therefore a watch purchase is not tied to how well my savings is doing.

Best way I can describe it is like budgeting for a vacation. Been to Paris. Went because we were passionate about having the experience. But was done with the expectation that the money we spent was not part of our savings or investment strategy. A 5513 or a week in Paris? Tuff call.

Now, if Armageddon or the Zombie Apocalypse happens and dollars are worth pennies, I would probably not buy another watch but instead sink every penny I have into fortifying my compound and buying bottled water and other necessities. But absent that, market changes do not influence my watch purchasing.

However, for those that do view watches as part of their investment strategy or savings but are also passionate about watches, I say you do you. It is the passion part of I applaud. The investment part we can respectfully disagree on. And I would say that many on this forum do disagree with me.

But that is part of what makes this forum great. And it will aways be a great place if people who are passionate about watches can respectfully disagree.

[6XYBE63ST]

Originally Posted by 101031-28

I love Rolex, have been a collector since 1988. Watches and exotic cars are my biggest passions but there has ALWAYS been a price point. Given the current situation, it is MSRP or less. And maybe even then I would pass.

WATCHA DRIVING

[Krash]

Originally Posted by mountainjogger

Let me try also.

I am not a wealthy person by the measure of many on this forum. For me, a purchase of a watch does not happen every day, or even every year. It is a luxury purchase of an item I am passionate about.

At this stage in my life, I only spend money on luxury items that I can 100% afford to loose. So, for me a watch is not part of an investment strategy or thought of as an asset. Therefore a watch purchase is not tied to how well my savings is doing.

Best way I can describe it is like budgeting for a vacation. Been to Paris. Went because we were passionate about having the experience. But was done with the expectation that the money we spent was not part of our savings or investment strategy. A 5513 or a week in Paris? Tuff call.

Now, if Armageddon or the Zombie Apocalypse happens and dollars are worth pennies, I would probably not buy another watch but instead sink every penny I have into fortifying my compound and buying bottled water and other necessities. But absent that, market changes do not influence my watch purchasing.

However, for those that do view watches as part of their investment strategy or savings but are also passionate about watches, I say you do you. It is the passion part of I applaud. The investment part we can respectfully disagree on. And I would say that many on this forum do disagree with me.

But that is part of what makes this forum great. And it will aways be a great place if people who are passionate about watches can respectfully disagree.

Nobody on this thread said anything about watches being a part of their investment portfolio. Nobody on this thread said anything about selling stock to buy a watch.

Very simple: Since the stock market is crashing, some people are saying they don’t feel comfortable buying a watch when their overall net worth is declining. This is a wise decision.

It’s not any more difficult than that. I’m not sure why people are interpreting it any different than that.


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[WilsdorfNDavis]

Originally Posted by Adam84

Lets be honest, noone likes taking a bath when selling a watch if they have to...

You guys sell your watches?

[rajurama]

Originally Posted by [email protected]

Agree with this.

Ok

[rajurama]

Originally Posted by mountainjogger

Let me try also.

I am not a wealthy person by the measure of many on this forum. For me, a purchase of a watch does not happen every day, or even every year. It is a luxury purchase of an item I am passionate about.

At this stage in my life, I only spend money on luxury items that I can 100% afford to loose. So, for me a watch is not part of an investment strategy or thought of as an asset. Therefore a watch purchase is not tied to how well my savings is doing.

Best way I can describe it is like budgeting for a vacation. Been to Paris. Went because we were passionate about having the experience. But was done with the expectation that the money we spent was not part of our savings or investment strategy. A 5513 or a week in Paris? Tuff call.

Now, if Armageddon or the Zombie Apocalypse happens and dollars are worth pennies, I would probably not buy another watch but instead sink every penny I have into fortifying my compound and buying bottled water and other necessities. But absent that, market changes do not influence my watch purchasing.

However, for those that do view watches as part of their investment strategy or savings but are also passionate about watches, I say you do you. It is the passion part of I applaud. The investment part we can respectfully disagree on. And I would say that many on this forum do disagree with me.

But that is part of what makes this forum great. And it will aways be a great place if people who are passionate about watches can respectfully disagree.

Agreed and well put together.

[prnceofpersia23]

Nothing wrong with not feeling comfortable spending on a big ticket item when your net worth is taking a beating.

[kirth]

Originally Posted by NYG1121

I am not buying toys when I am hemorrhaging money. I have a brain.

From Polonius to Laertes.

[Dhiren]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

Seriously !? What you say make’s no sense at all.


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[Calatrava r]

Originally Posted by rajurama

If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.

I think every luxury purchase decision must be based on sound financial footing and analysis, not just passion.

[tjs1295]

Originally Posted by Krash

Nobody on this thread said anything about watches being a part of their investment portfolio. Nobody on this thread said anything about selling stock to buy a watch.

Very simple: Since the stock market is crashing, some people are saying they don’t feel comfortable buying a watch when their overall net worth is declining. This is a wise decision.

It’s not any more difficult than that. I’m not sure why people are interpreting it any different than that.


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Exactly!!!

[TswaneNguni]

Not the end of the earth ,since you face a bit of inflation and higher interest rates .

All downturns/corrections turn around .Up and down is the cycle of life .

[TimeAZ]

Originally Posted by NYG1121

I am not buying toys when I am hemorrhaging money. I have a brain.

Best post I've seen in a long time.

[DBCooper07]

I set my money aside 2 years ago for 2 watches and I kept kicking myself for not putting in the market... well with the exception of the Rolex price hike I have the same amount of money no the market is down so much. So I guess it was good to keep it out, lol. I'm still buying if i ever get the call damn it!

[eltonbalch]

Originally Posted by Calatrava r

I think every luxury purchase decision must be based on sound financial footing and analysis, not just passion.

Totally agree, but if my AD calls with that Pepsi GMT I’ve been craving I’ll be on my way, speed dialing my favorite greys to see what they’ll give me….

Totally joking BTW…I’d keep it

[Bigdaddy38]

Now is a great time to buy blue chip company stocks that have great balance sheets and will ultimately rebound. I would argue it is a better way to spend extra money than watches at this time. It will rebound and when it does you will be able to enjoy that bounce. Smart investors buy large dips if you are able! In terms of it impacting your watch buying, it makes sense if you do not have the disposable income during a time of volatility! That does not mean as some have suggested that you are not passionate about watches!


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[G23Guy]

Endless same day purchase/flips that are littering every timepiece sale forum tell the real story on what's going on.

[allen993]

Originally Posted by Watchcollector123

there is a lot of truth there

actually...no there is not.