How high would you go?

[DGB]

With the price ever so much going up, how much would you maximum pay for a beautiful piece?

No matter which watch or brand it is, let’s say it is your grail watch, the one you really want or have been dreaming of for years and you have it available to buy in front of you.

Not in monetary units (£,$,€ or whatever) but in month of salary or income.

Would you pay one year of salary for it? More? Less?




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[beshannon]

Perhaps you should answer first!

[jrs146]

Topics like this can run in negative directions easily... but I’d say this. Everything is relative. A year’s salary for one person is no problem. For someone else it’s a pipe dream. It’s a good thing that they’re only watches!


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[BzKneez]

I'd only pay MSRP or lower, nothing above that. I love watches but this also applies to everything I purchase no matter how bad I want it.

[brandrea]

I think we all have a pretty good idea of how much we are comfortable spending for a watch.

[datejust24]

Originally Posted by BzKneez

I'd only pay MSRP or lower, nothing above that. I love watches but this also applies to everything I purchase no matter how bad I want it.

This...to think people are paying on average more than double for the BLRO is truly insane IMO...it isn’t a matter of just money but principle for me...where does it end if your willing to pay damn near PM prices for a SS piece? I’d rather wait the 2-3 years..

[peterpl]

Your gonna get very different answers. As Josh said some people dont blink an eye at spending $50k+ on a watch which is easily someones entire years salary.

Some people would save up a lifetime to spend $3k. Its a very personal thing.

[prakhon]

Suppose SS MSRPs were to rise to gray prices in 2019. Perhaps not likely, but not out of the question. After all, the latter has been a better measure of the market clearing price than the former for nearly a year.

Would you be willing to pay newer, higher MSRP?

[.brian.]

53.

[Frits1980]

Besides the size of your wallet there is something else as well. How confortable you will be wearing a high value piece? I was dreaming/thinking about a Patek philippe world time with enamel dial lately till it hit me. i would probably would only wear it inside the house. Cant realy see myself enjoying a beer somewhere wearing a 100K watch.

[np2016]

Msrp for me! Hell even paying sales tax for me is painful.

[DGB]

Ok, so as I said before it is not the value in money the focus as we all have different level of income, but more time and effort of savings to buy a watch.

In my view one year of salary is too much, I would go to 6 or 9 months max of income.

Is it too much? not enough? What do you think?

Remember it is the grail watch we are talking about.


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[Mystro]

Msrp seems to be meaningless anymore with hot models. I guess as long as I could sell the watch for close to what I paid, that is the real world price on what the watch cost. To answer the OP’s question, I would pay what the going real world price is.

[Star Ferry]

Even basing on salary, it's easier to dish out 2 million when making 2 million per year, than 30K when making 30K per year

[Letsgodiving]

I can't imagine any scenario where it would be appropriate to pay 1 years salary for a watch but to each their own I suppose.

[Doc Savage]

Originally Posted by BzKneez

I'd only pay MSRP or lower, nothing above that. I love watches but this also applies to everything I purchase no matter how bad I want it.

This is a legitimate argument, but it is different than the original question. I agree, and I would never pay above MSRP. But the question was this: how high of a percentage of your annual salary would you pay for a watch?

For me, it is definitely less than a month's salary on any single watch. I want to be able to wear my watches anywhere and not worry excessively about them being stolen. If that is a major concern, I think you've spent too much of your income/net worth on a watch.

Doc Savage

[Sarosh]

I do agree it’s all relative, some of us have to save for months and months on end to look towards purchasing a watch, in SS. It’s what you’re comfortable with.

Whereas some people who own multiple Pateks and PM Rolexes won’t have an issue in purchasing them. They’re at the point in their lives where they can do so without having to give it too much thought. Good luck to them!

[tyler1980]

MSRP is a made up number. Pay what you feel its worth as it has no real value other than what people think its worth. Like artwork.

[Danny83]

Let me ask my Butler

[peterpl]

Originally Posted by Letsgodiving

I can't imagine any scenario where it would be appropriate to pay 1 years salary for a watch but to each their own I suppose.

Agree 100%

I think spending an entire years salary on a watch is crazy. If you make $50k a year and spend $50k on a watch I would think your mad.

For me to spend $50k on a watch I would have to make at least 10x that.

[tyler1980]

Originally Posted by Letsgodiving

I can't imagine any scenario where it would be appropriate to pay 1 years salary for a watch but to each their own I suppose.

one year salary after making the same salary for 30+ years and investing wisely, that watch could be a tiny fraction of your net worth. So its not necessarily as extravagant as it may sound.

You make 100k a year and save 20% of your salary for 30 years and its worth 2.7 million when you retire using historical rates of return (company matches in a 401k and it would be way, way more). So that 100k watch doesnt seem like that huge of a purchase in that perspective.

[SMD]

3.14159265359...

[Letsgodiving]

Originally Posted by tyler1980

one year salary after making the same salary for 30+ years and investing wisely, that watch could be a tiny fraction of your net worth. So its not necessarily as extravagant as it may sound.

You make 100k a year and save 20% of your salary for 30 years and its worth 2.7 million when you retire using historical rates of return (company matches in a 401k and it would be way, way more). So that 100k watch doesnt seem like that huge of a purchase in that perspective.

I see the point you are trying to make but no one makes 100k for 30 years. If you are currently making a 100k, 30 years ago when you started out you were probably making 20k so your nest-egg will be significantly lower.

Regardless, of the monetary issues involved I can't conceive of working for 1 year (2000+ hours) in order to buy a watch but everyone has different priorities and I don't judge.

[tyler1980]

Originally Posted by Letsgodiving

I see the point you are trying to make but no one makes 100k for 30 years. If you are currently making a 100k, 30 years ago when you started out you were probably making 20k so your nest-egg will be significantly lower.

Regardless, of the monetary issues involved I can't conceive of working for 1 year (2000+ hours) in order to buy a watch but everyone has different priorities and I don't judge.

my wife as an engineering manager has hired college grads for her project, and its well over six figures starting. They are 22 years old. So its a fair average for an upper income person.

Banking, medicine, pharmaceuticals, etc. Its all alot of money right off the bat and there are a lot of those types of jobs.

[Letsgodiving]

Originally Posted by tyler1980

my wife as an engineering manager has hired college grads for her project, and its well over six figures starting. They are 22 years old. So its a fair average for an upper income person. They may not start out at 100k but they finish well, well above that.

And do you think it would be responsible for them to spend a years salary on a watch?

What do you suppose their salary will be in 30 years?

[tyler1980]

Originally Posted by Letsgodiving

And do you think it would be responsible for them to spend a years salary on a watch?

What do you suppose their salary will be in 30 years?

when i retire, sure i might. I wouldn't do it with no savings though. Im just saying overall net worth is a better factor for determining affordability than benchmarking on your annual salary and that is a product of time scale.

[SG56]

Originally Posted by tyler1980

my wife as an engineering manager has hired college grads for her project, and its well over six figures starting. They are 22 years old. So its a fair average for an upper income person.

Banking, medicine, pharmaceuticals, etc. Its all a lot of money right off the bat and there are a lot of those types of jobs.

Not medicine.. Not right away. And with a huuuuge student loan debt.

I'm in a different field completely, but have many MD friends.

And don't get me started on 22 year Olds coming out of college with 6 figures. They already feel entitled to everything.
Was watching a 22 year old the other day in a training, getting busy with his iPhone all morning of a training. Too boring for him. I wanted to smash his head on the desk.

Yeah, I'm an angry old lady who worked hard for her money all her life... Lol

A few good points above. It does depend on a height of annual salary. Much harder for someone making 30k to spend that kind of money on a luxury item.

[tyler1980]

Originally Posted by SG56

Not medicine.. Not right away. And with a huuuuge student loan debt.

I'm in a different field completely, but have many MD friends.

And don't get me started on 22 year Olds coming out of college with 6 figures. They already feel entitled to everything.
Was watching a 22 year old the other day in a training, getting busy with his iPhone all morning of a training. Too boring for him. I wanted to smash his head on the desk.

Yeah, I'm an angry old lady who worked hard for her money all her life... Lol

A few good points above. It does depend on a height of annual salary. Much harder for someone making 30k to spend that kind of money on a luxury item.

I think its ridiculous too, just saying its fairly normal these days in many STEM fields and finance. Not when i got out of college though

[Letsgodiving]

Originally Posted by tyler1980

when i retire, sure i might. I wouldn't do it with no savings though. Im just saying overall net worth is a better factor for determining affordability than benchmarking on your annual salary and that is a product of time scale.

I agree. Inflation is complicating factor though. Someone making 100k today out of college probably has zero or even negative net-worth. In thirty 30 years that 100k salary may be 500K so they better get to saving.