Nearly incoming, with disappointment

[bonsai-man]

Sorry for the long post but this is a considered purchase, so I am er considering. I hope you guys can help, been to the AD today left disappointed. Been told the only 2 watches I like have a waiting list, whats that all about, it gets worse!

For the Daytona I have tried 4 AD's first will get me one in 8 months as I bought my SubC here, rest were useless. They will not discount either under any circumstances or do 0% finance on the Daytona. The 5711 is over my budget but can be done on 0% over 4 years.

So it is between a steel Daytona (black face) and a PP Nautilus 5711 1A (blue face). They did not have the right Patek so I tried a similar one, the Daytona was the managers, I have wrist shots if anyone is interested.

So to get the Daytona I will have half the cash by the time it arrives next year (ETA min 8 months).The remaining £4000ish will be a loan from the bank over 2 years as no finance available. The 5711 will be 0% finance over 4 years, but I have a Sub C on 0% which ends next year. When this ends I can afford to meet the higher payments, and no interest This is also the ETA of the 5711 and very unlikely to change said the AD as they only get 1 5711 per year.

The problem is I can only get 1 at a time so do I get the Daytona first or the 5711. I like both the same and intend to get both. The problem is financial, in your opinion which way round would be the least expensive. Also I need to think about availability, one AD is talking 10 years on a Daytona is he serious, no really.

I also need to think about resale, I went through redundancy 2 years ago but survived and it is still fresh in my mind. I could buy my way out of trouble by selling my unit trust tracker, but that is rising steadily now. The AD suggested selling some of it to fund the Daytona as they are "money in the bank" but I think the shares will pay more. I am aware that a Daytona will be easier to shift and I would not loose too much on it, don't know about 5711.

I think the Patek would be harder to sell and I will loose much more on it short term, long term may be different any thoughts on that would help. I heard some Patek can go up in value over time, but only the older rarer models. Would a PP Nautilus 5711 in steel be likely to go up in 25 years or will it be to modern. I intend selling everything in 25 years as I have no kids and you cant take it with you. I am looking forward to my world tour and some sweet, sweet liqueur. Please help.

[HDHNTER]

[TimeOnMyHands]

Originally Posted by HDHNTER

LMAO !!!!!!!!!!!

[zeuloa]

If I may be honest, it sounds like you may be stretching yourself a bit.... I would leave the big financing for a house or car, not worth it financing a watch if you don't have the cash in the bank in my opinion...

Best of luck!

[kilyung]

Oh boy. Short answer without lecture... get the PP.

[Rashid.bk]

Hmmm, well you could..........if you...........wait........nope, I got nothing. Good luck.

[superdog]

Originally Posted by kilyung

Oh boy. Short answer without lecture... get the PP.

you are a gentleman.

[perpetualman88]

I never recommend buying a watch if you have to finance it. Its a luxury item and not a necessity. With that aside the 5711 hands down is easier to sell and will lose ALOT less money than a daytona.

The daytona market especially white dial is very weak at the moment. What your AD has said about the daytona being money in the bank is utter rubbish.

with that said for me its a no brainer 5711 all day long. Best of luck with your choice and let us know what you end up getting

[bonsai-man]

Own a nice house already, affordability is not an isuue. I can pay for both but would need to cash in other investments. I dont see watches as investments, so tHe way I see it if they will give 0% I'd be a fool not to take it and pay monthly.

[SWISSAHOLICS]

5711 hands down my friend. I would not recommend financing a watch either. Save up and when ready, go for it. Good luck!!

[psv]

You lost me somewhere in there... but my humble advise - never buy something as shallow as a wristwatch if you have to finance it and unless you have at least twice the amount of cash lying around. Secondly, get on an airplane and buy a the watch you like - there are plenty of places where you can get those watches without a waitlist.

[zeuloa]

Originally Posted by bonsai-man

Own a nice house already, affordability is not an isuue. I can pay for both but would need to cash in other investments. I dont see watches as investments, so tHe way I see it if they will give 0% I'd be a fool not to take it and pay monthly.

In that case I would go for 5711!

[tinger]

OP,
I know you didn't ask about finances and I hate sticking my nose where it doesn't belong..
I beg you, please dont borrow to buy a watch!

[GB-man]

Nobody can say what a particular watch will be worth in 25 years. I would get the PP provided you are not putting yourself in a financially precarious situation. Good Luck.

[jjnd08]

As someone who works in the financing industry, I agree that 0% financing is something you don't want to pass up; however, NOT on luxury items (especially a watch). It isn't worth taking a ding on your credit for the inquiry.

From the context of your message it sounds like you are stretching yourself thin on this, and have done that to yourself before. While 0% financing sounds great when everything is running smoothly, what if you run into problems or a down economy hits again and you can't pay it off during the 0% terms? Then your rate will probably jump to close to 20%!

Hate to give you financial advise on this, but you may want to wait a year or so until you can pay cash on this.

[joe100]

Oh boy.

Don't finance watches. If you can't pay cash you don't need it.

[OML]

A man tires of the bus- so he needs a car he can pay cash for a VW, but wants a Porsche so he finances it for five years at 9%. He feels great. A man tires of reaching for his cell phone- he needs a watch he can pay cash for a Tag, but wants a Patek so he finances it for four years at 0%. He feels great. Wouldn't recommend either as sound or sane......but, I get it. NOTE- since you're asking the answer is Patek.

[bonsai-man]

Ok, I will word it differently. If like me you had much more than £20,000 in an investment fund, instead of the bank because the bank interest rate is just .025% due to the recession. Your investment has nearly doubled in 18 months. You owned your house already. You had a nice car and a disposable income of over £400 when you cleared your current 0% finance, and could pay off the finance if you lost your job by selling your current watches or worst case cash in some shares would you buy a 5711 or SS Daytona first.

The Daytona would cost £800 more due to interest if you did it now, but will likely cost £1500 more in 4 years time due to price rises if you buy the 5711 first. The 5711 will have 2 price rises or more if you go for the Daytona first

[bonsai-man]

Or would you not bother and leave it

[azguy]

My head hurts

[joe100]

Originally Posted by bonsai-man

Or would you not bother and leave it

This ^^^^^

Save up separately and pay cash outright. Cashing out investments etc is a bad idea and if it requires this much thought... It's either a comfortable purchase for you or it isn't. Seems to me, it isn't.

[OML]

Originally Posted by azguy

My head hurts

I think bonsai-man may be pruning the wrong branch here....but, I must continue to ponder this.

[Sous]

In my humble opinion, Patek outshines Rolex every time, for reasons too numerous to list.

If you don't have an issue with financing the watch, then get it as such.

[brandrea]

Buy the watch that you like most ... I wouldn't think of it as something worth "x" years from now .....

[cop414]

Originally Posted by Rashid.bk

Hmmm, well you could..........if you...........wait........nope, I got nothing. Good luck.

[Racerdj]

I would not finance it. These depreciating pieces are more fun if you can buy and enjoy them. The chase is a lot of fun too! I'm not telling you not to but in years you might be happier.

[AK797]

Nearly everyone here will tell you if you cant pay for it all in one go in cash then don't buy it until you can. If however you think you can buy one without it hurting you at all then I would buy the Daytona, as it is a lot less money and will hold its value pretty well.

[WayneWatches]

Originally Posted by bonsai-man

Own a nice house already, affordability is not an isuue. I can pay for both but would need to cash in other investments. I dont see watches as investments, so tHe way I see it if they will give 0% I'd be a fool not to take it and pay monthly.

Did u guys not read this??? Hes not borrowing to buy a watch.

They offered 0% finacing so to me making payments on it is not a bad idea if his money is tied of in other investments.

I will just give my opinion on what watch to buy and leave the finances up to the OP


Get the Daytona. Its beautiful

[sugiharto]

Originally Posted by bonsai-man

Own a nice house already, affordability is not an isuue. I can pay for both but would need to cash in other investments. I dont see watches as investments, so tHe way I see it if they will give 0% I'd be a fool not to take it and pay monthly.

I think even if you can get 0%, you won't be able to negotiate for a lower price. I suggest you pay cash then you can have a bargaining power to have a much better price.

[incontrol]

Get the Patek. They are amazing on the wrist!