ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Honda Guy · 25 December 2008, 09:00 PM

Hello fellow TRF members,
I have been silly and it is time I come clean.

I bought a number of watches (rolex included) and used debt to pay for them. These watches have really made me happy but now I worry about the interest, wife finding out, stupidity of it all.

I earn middle class money but - after paying the home loan, car loan, credit card bills, I have nothing left. I then got a Citibank personal loan pre-approval in the mail,.... I took the money (which I was going to pay off the credit cards) and bought some watches.

I bought the following pieces (i paid about $20K):-
Rolex 16233, 69173 (for the wife)
Breitling Navitimer
Cartier ladies Diablo
Omega Speedie

Since buying the watches (used) the market has crashed. The dealer I bought them from staid he is now selling very little.

I owe $60k excluding the home loan.

When do you think the market will come good again?

buz-lh · 25 December 2008, 09:09 PM

Bless you. It will probably be at least two years from what I'm reading. I think it may be time to come clean with the wifey. She's in this with you whether she wants to be or not. I would suggest if you're spending every penny you have just to reduce debt to go ahead and take the beating by disposing of these and paying the debt down as much as possible. Just my two cents. Good luck.

charliec · 25 December 2008, 09:21 PM

Surely you should be asking Santa for help ???

In seriousness, the new watch market is dead but aparently there is still life in the used market here in the UK according to a major dealer here. The outlook for our economy is bleak and forecasts indicate official recession for most counties with depression for some. The good news for those in serious debt is that regulations are about to be implemented that will grant leave of absence (within reason) for those that cannot afford to pay everything owed without the immediate threat of home repossesion. However IVA are's on the up and lenders are panicking hence the loan crisis currently experienced.

2careless · 25 December 2008, 09:23 PM

Sounds archie...

rajurama · 25 December 2008, 09:27 PM

Archie yes it is.

ArizonaHD · 25 December 2008, 09:34 PM

Hello Archie...

And Goodbye Archie

ArizonaHD · 25 December 2008, 09:35 PM

Please not another run of youtube videos...

Spare us!

SPORTSFAN · 25 December 2008, 09:49 PM

Hi Archie,

You must win the persistancy prize................

I think that you should charge a fee to watch your You tube videos.......that would be a start..............

Happy Christmas......................

Regards Mike.

Honda Guy · 25 December 2008, 10:07 PM

Who is archie?

SPORTSFAN · 25 December 2008, 10:36 PM

Quote:

Originally Posted by Honda Guy

Who is archie?

You are Archie.
"The LUXURY GUY".........................

Regards Mike.

toph · 25 December 2008, 10:57 PM

Quote:

Originally Posted by 2careless

Sounds archie...

Quote:

Originally Posted by rajurama

Archie yes it is.

Quote:

Originally Posted by ArizonaHD

Hello Archie...

And Goodbye Archie

Quote:

Originally Posted by SPORTSFAN

You are Archie.
"The LUXURY GUY".........................

Regards Mike.

that is exactly what i was thinking when i saw the post on another thread?

maybe he has made a band?

http://uk.youtube.com/watch?v=mGL4bt...next=1&index=7

SPORTSFAN · 25 December 2008, 11:04 PM

Hi Toph and Happy Christmas......

Archie just can't resist the ladies of the night can he !.....

Regards Mike.

buz-lh · 25 December 2008, 11:05 PM

I can't believe I fell for this, as my Archiedar has been on high alert lately. Doh

toph · 25 December 2008, 11:19 PM

Quote:

Originally Posted by SPORTSFAN

Hi Toph and Happy Christmas......

Archie just can't resist the ladies of the night can he !.....

Regards Mike.

Merry Christmas to you too

I know he is a fiend

Dylan Wade · 26 December 2008, 01:14 AM

I'm lost on this one guy's; what or who is "Archie"?

Just some prank...........?

cody p · 26 December 2008, 01:21 AM

fascinating stuff!

DoxaDavid · 26 December 2008, 01:22 AM

Must be some inside joke I missed out on? Anyone want to tell the rest of us so we can laugh along?

mretzloff · 26 December 2008, 01:26 AM

Quote:

Originally Posted by DoxaDavid

Must be some inside joke I missed out on? Anyone want to tell the rest of us so we can laugh along?

Ya. Who's archie?

Mike B · 26 December 2008, 01:31 AM

There was this Archie fellow on here awhile back who (during his FIRST post if I'm not mistaken) posted up ALL his/his wife's personal belongings, along with thier cost/value for EACH item (and I mean ALL of thier stuff watches, handbags, etc. etc.). It was a fun read, but got old REAL fast. Dig around here for "Archie" and I'm sure you'll catch on quick to the person we refer. Oh, and check out his Youtube videos while your at it lol :)

builtforspeed · 26 December 2008, 02:12 AM

I think Archie provides a cautionary tale concerning the ugly obsession with the price of things, and the prestige the Archies/Stephens of the world believe those things convey. Pathetic, actually.

Cheers,

Chris

bodybump · 26 December 2008, 02:20 AM

Hahahaha oh archie....Well getting back on you question...i know its sometimes tempting to buy watches and especially when you have this credit cards hanging around with small interest but once you add that up its totally big money...Even right now if you check the sales forum there are a lot of deals and tempting deals...Market will not rebound in the first quarter of the year..it might be a slow growth..but i hope with our new president something chages...$60k is a lot of money i mean a lot of debt..you should be very very careful with your spending..You have very nice collection..but its really time to make a descision..I say kepp you Rolex and sell eveything else...

Hope everything works fine with you in the new year... Merry Christmas to you!!!

Bisquitlips · 26 December 2008, 02:53 AM

Ah HA!

I do remember Archie!!!!!

Well, if it is Archie, and he is telling the truth about his CC debt, then I would not want to be him when his wife gets a whiff of this!

2careless · 26 December 2008, 04:51 AM

I think there are several incarnations already:
archie42
Stephens
Mathew Aspen (or Matthew Aspen)

Serial pest it is.

gif credit to Paul :-)

Perpetuator · 26 December 2008, 06:28 AM

well that was three minutes well spent...

dcash0615 · 26 December 2008, 06:29 AM

I have to give you credit for sharing this story with us. Not many will admit their true financial situation. I am a little concerned for you though down the road. This market is not going to get better for quite some time.

Now to your situation at hand. What were you thinking? Not real smart, but I can understnad why you did it. It is a disease once you catch the watch bug. You can never have enough.

You mention that you have a home. Hopefully you have some equity. Maybe not though, not sure. If you do have equity, I would refinance and pull cash out to pay off these debts (consolidate). Mortgage interest rates are at 50 year lows. By doing this you can consolidae all or some of your debts and lower your monthly payment obligations. The interest you pay on the first $100K cash you take out of your house in a refi is basically tax deductable regardless of what you use the funds for. I know it is not good to use your home as an ATM machine, but in your case, I do not see any other option. You are headed for trouble unless you do something now.

Good luck.

Quote:

Originally Posted by Honda Guy

Hello fellow TRF members,
I have been silly and it is time I come clean.

I bought a number of watches (rolex included) and used debt to pay for them. These watches have really made me happy but now I worry about the interest, wife finding out, stupidity of it all.

I earn middle class money but - after paying the home loan, car loan, credit card bills, I have nothing left. I then got a Citibank personal loan pre-approval in the mail,.... I took the money (which I was going to pay off the credit cards) and bought some watches.

I bought the following pieces (i paid about $20K):-
Rolex 16233, 69173 (for the wife)
Breitling Navitimer
Cartier ladies Diablo
Omega Speedie

Since buying the watches (used) the market has crashed. The dealer I bought them from staid he is now selling very little.

I owe $60k excluding the home loan.

When do you think the market will come good again?

TempoKing · 26 December 2008, 09:59 AM

Quote:

Originally Posted by Honda Guy

Hello fellow TRF members,
I have been silly and it is time I come clean.

I bought a number of watches (rolex included) and used debt to pay for them. These watches have really made me happy but now I worry about the interest, wife finding out, stupidity of it all.

I earn middle class money but - after paying the home loan, car loan, credit card bills, I have nothing left. I then got a Citibank personal loan pre-approval in the mail,.... I took the money (which I was going to pay off the credit cards) and bought some watches.

I bought the following pieces (i paid about $20K):-
Rolex 16233, 69173 (for the wife)
Breitling Navitimer
Cartier ladies Diablo
Omega Speedie

Since buying the watches (used) the market has crashed. The dealer I bought them from staid he is now selling very little.

I owe $60k excluding the home loan.

When do you think the market will come good again?

Hello there Honda Guy
I am sorry to hear that you have invested 20.000 dollars in these 5 used
watches. Unfortunately when the market will recover (4-6 years from now)
I can only see the Navitimer and the Omega (if both mechanical)
to recover & increase in value by then.

The Diablo will remain in your household to remind you of a bad dream for
a long time to come, unless you give it away.

The two Rolex watches (thank God you bought those) as they are the bread and butter
of the watch business can be sold any time with about 10% to 25% loss at the moment
from what you paid, depending how greedy the Jeweler was.

I wish you the very best for the New Year and next time ask before you buy.
Regards

Anastasios
Important Watches-used price specialist...

2careless · 26 December 2008, 10:06 AM

Ehhh, guys... This OP has previously stated in another thread that he's paying maintenance for his "wife". So, unless he's a Muslim or a Mormon, his story doesn't add up... We can just about forget whatever tripe he wrote here.

onkyo · 26 December 2008, 10:12 AM

Quote:

Originally Posted by TempoKing

Hello there Honda Guy
I am sorry to hear that you have invested 20.000 dollars in these 5 used
watches. Unfortunately when the market will recover (4-6 years from now)
I can only see the Navitimer and the Omega (if both mechanical)
to recover & increase in value by then.

The Diablo will remain in your household to remind you of a bad dream for
a long time to come, unless you give it away.

The two Rolex watches (thank God you bought those) as they are the bread and butter
of the watch business can be sold any time with about 10% to 25% loss at the moment
from what you paid, depending how greedy the Jeweler was.

I wish you the very best for the New Year and next time ask before you buy.
Regards

Anastasios
Important Watches-used price specialist...

4-6 years recovery time .... I hope you are wrong....

Felly Jr. · 26 December 2008, 10:22 AM

Quote:

Originally Posted by 2careless

Ehhh, guys... This OP has previously stated in another thread that he's paying maintenance for his "wife". So, unless he's a Muslim or a Mormon, his story doesn't add up... We can just about forget whatever tripe he wrote here.

Yeah, it goes a little something like this:

Carolina · 26 December 2008, 10:49 AM

Oh gosh - again?!?

25 December 2008, 09:00 PM	#1
Honda Guy Banned Join Date: Dec 2008 Location: New Zealand Posts: 4	Credit Card confessions.... Hello fellow TRF members, I have been silly and it is time I come clean. I bought a number of watches (rolex included) and used debt to pay for them. These watches have really made me happy but now I worry about the interest, wife finding out, stupidity of it all. I earn middle class money but - after paying the home loan, car loan, credit card bills, I have nothing left. I then got a Citibank personal loan pre-approval in the mail,.... I took the money (which I was going to pay off the credit cards) and bought some watches. I bought the following pieces (i paid about $20K):- Rolex 16233, 69173 (for the wife) Breitling Navitimer Cartier ladies Diablo Omega Speedie Since buying the watches (used) the market has crashed. The dealer I bought them from staid he is now selling very little. I owe $60k excluding the home loan. When do you think the market will come good again?

25 December 2008, 09:09 PM	#2
buz-lh "TRF" Member Join Date: Dec 2007 Real Name: Buz Location: Atlanta Watch: Rolex Tudor Pam Posts: 5,108	Bless you. It will probably be at least two years from what I'm reading. I think it may be time to come clean with the wifey. She's in this with you whether she wants to be or not. I would suggest if you're spending every penny you have just to reduce debt to go ahead and take the beating by disposing of these and paying the debt down as much as possible. Just my two cents. Good luck. __________________ Buz The faster you move, the slower time passes, the longer you live. Peter Diamandis

25 December 2008, 09:21 PM	#3
charliec "TRF" Member Join Date: Nov 2008 Location: UK Posts: 969	Surely you should be asking Santa for help ??? In seriousness, the new watch market is dead but aparently there is still life in the used market here in the UK according to a major dealer here. The outlook for our economy is bleak and forecasts indicate official recession for most counties with depression for some. The good news for those in serious debt is that regulations are about to be implemented that will grant leave of absence (within reason) for those that cannot afford to pay everything owed without the immediate threat of home repossesion. However IVA are's on the up and lenders are panicking hence the loan crisis currently experienced. __________________ Milgauss GV DSSD SS Daytona White Mid-size DJ Tudor 18ct Prince

25 December 2008, 11:05 PM	#13
buz-lh "TRF" Member Join Date: Dec 2007 Real Name: Buz Location: Atlanta Watch: Rolex Tudor Pam Posts: 5,108	I can't believe I fell for this, as my Archiedar has been on high alert lately. Doh __________________ Buz The faster you move, the slower time passes, the longer you live. Peter Diamandis

26 December 2008, 01:22 AM	#17
DoxaDavid "TRF" Member Join Date: Jan 2008 Real Name: David Location: Minneapolis, Mn Posts: 3,271	Must be some inside joke I missed out on? Anyone want to tell the rest of us so we can laugh along? __________________ DOXA-AFICIONADO "It has been my experience that folks who have no vices have very few virtues. " Abraham Lincoln 1809-1865

25 December 2008, 09:23 PM	#4
2careless "TRF" Member Join Date: Dec 2007 Location: Melbourne, AU Watch: Pepsi Posts: 4,370	Sounds archie...

25 December 2008, 09:27 PM	#5
rajurama "TRF" Member Join Date: Oct 2008 Real Name: Rick Location: Wakanda Watch: amacallit Posts: 2,090	Archie yes it is.

25 December 2008, 09:34 PM	#6
ArizonaHD "TRF" Member Join Date: Nov 2008 Location: USA Posts: 472	Hello Archie... And Goodbye Archie

25 December 2008, 09:35 PM	#7
ArizonaHD "TRF" Member Join Date: Nov 2008 Location: USA Posts: 472	Please not another run of youtube videos... Spare us!

25 December 2008, 09:49 PM	#8
SPORTSFAN "TRF" Member Join Date: Apr 2008 Real Name: Mike Location: NW England Posts: 791	Hi Archie, You must win the persistancy prize................ I think that you should charge a fee to watch your You tube videos.......that would be a start.............. Happy Christmas...................... Regards Mike.

25 December 2008, 10:07 PM	#9
Honda Guy Banned Join Date: Dec 2008 Location: New Zealand Posts: 4	Who is archie?

25 December 2008, 11:04 PM	#12
SPORTSFAN "TRF" Member Join Date: Apr 2008 Real Name: Mike Location: NW England Posts: 791	Hi Toph and Happy Christmas...... Archie just can't resist the ladies of the night can he !..... Regards Mike.

26 December 2008, 01:14 AM	#15
Dylan Wade Member Join Date: Jun 2008 Location: BC, Canada Watch: EXP II Posts: 545	I'm lost on this one guy's; what or who is "Archie"? Just some prank...........?

26 December 2008, 01:21 AM	#16
cody p "TRF" Member Join Date: Jun 2008 Location: Canada Watch: Air-King 114200 Posts: 2,878	fascinating stuff!

26 December 2008, 01:31 AM	#19
Mike B "TRF" Member Join Date: Jun 2008 Real Name: Mike Location: Gilbert, AZ Watch: DSSD, Omega SMP Posts: 3,055	There was this Archie fellow on here awhile back who (during his FIRST post if I'm not mistaken) posted up ALL his/his wife's personal belongings, along with thier cost/value for EACH item (and I mean ALL of thier stuff watches, handbags, etc. etc.). It was a fun read, but got old REAL fast. Dig around here for "Archie" and I'm sure you'll catch on quick to the person we refer. Oh, and check out his Youtube videos while your at it lol :)

26 December 2008, 02:12 AM	#20
builtforspeed "TRF" Member Join Date: Oct 2008 Location: Arizona Posts: 380	I think Archie provides a cautionary tale concerning the ugly obsession with the price of things, and the prestige the Archies/Stephens of the world believe those things convey. Pathetic, actually. Cheers, Chris __________________ 16610 LV F serial, 16600 K serial, 16622 F serial, 116710 BLNR, 116400 GV, Air King ca. 1988, et al.

26 December 2008, 02:20 AM	#21
bodybump ⭐⭐⭐⭐⭐⭐ 2024 SubLV41 Sponsor & Boutique Seller Join Date: Sep 2008 Real Name: Oscar Location: Florida Watch: Me!!! Posts: 23,233	Hahahaha oh archie....Well getting back on you question...i know its sometimes tempting to buy watches and especially when you have this credit cards hanging around with small interest but once you add that up its totally big money...Even right now if you check the sales forum there are a lot of deals and tempting deals...Market will not rebound in the first quarter of the year..it might be a slow growth..but i hope with our new president something chages...$60k is a lot of money i mean a lot of debt..you should be very very careful with your spending..You have very nice collection..but its really time to make a descision..I say kepp you Rolex and sell eveything else... Hope everything works fine with you in the new year... Merry Christmas to you!!! __________________

26 December 2008, 02:53 AM	#22
Bisquitlips 2024 Pledge Member Join Date: Sep 2008 Real Name: Richard Location: USA Watch: YM Deep Space Posts: 12,521	Ah HA! I do remember Archie!!!!! Well, if it is Archie, and he is telling the truth about his CC debt, then I would not want to be him when his wife gets a whiff of this! __________________ Rolex Yacht-Master 40mm (SS-YG / Deep Space MOP) 16623 Breitling Aerospace Titanium / 18K with UTC. Omega Speedmaster 3510.50 Oris TT1 Pro Diver Regulator 43MM

26 December 2008, 04:51 AM	#23
2careless "TRF" Member Join Date: Dec 2007 Location: Melbourne, AU Watch: Pepsi Posts: 4,370	I think there are several incarnations already: archie42 Stephens Mathew Aspen (or Matthew Aspen) Serial pest it is. gif credit to Paul :-) Attached Images

26 December 2008, 06:28 AM	#24
Perpetuator "TRF" Member Join Date: Jun 2007 Real Name: Rob Location: California Posts: 489	well that was three minutes well spent...

26 December 2008, 10:06 AM	#27
2careless "TRF" Member Join Date: Dec 2007 Location: Melbourne, AU Watch: Pepsi Posts: 4,370	Ehhh, guys... This OP has previously stated in another thread that he's paying maintenance for his "wife". So, unless he's a Muslim or a Mormon, his story doesn't add up... We can just about forget whatever tripe he wrote here.

26 December 2008, 10:49 AM	#30
Carolina "TRF" Member Join Date: Jul 2007 Location: North Carolina Watch: it, Bubba! Posts: 6,271	Oh gosh - again?!? __________________ . .Member #5380 .

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