Am I crazy for considering this?

[MONTANTK]

Recently purchased an OP41 and a few months later I find myself on the hunt for a house. Also, in another 12 months I’ll have purchased an engagement ring and 6 months after that my lease is up. Now, I am not hurting for money by any means but it would be nice to downgrade to an Omega or Tudor and pocket some extra cash.

The downside is obvious. Rolex supply is very thin and although I have a good relationship with my AD, they don’t exactly get a lot of stock. I’m also approaching the point in my life where the money on a new watch could be better spent elsewhere. If I bought a new Rolex down the line I would prefer a Sub.

So, the pro is having the extra cash but the con is the difficulty of replacing it. Am I crazy for considering selling?

[subtona]

Isn’t the extra cash used to get fun stuff? That’s why it’s called extra?:)

Keep the watch if it brings you joy.

[GradyPhilpott]

Keep the watch and work everything else out.

That money's spent and you have something that will last your lifetime and beyond.

[HiBoost]

Did you get it from the AD at retail? I.e. are you weighing a money making move versus a money reclaiming move? It seems to me that if you have asked the question, you already have the answer. If the watch spoke to you the way it should, you wouldn't even be considering. If after only a couple months with it you are debating getting rid of it, that doesn't sound like true love to me...

[ndrs63]

No, you are not. If spending on a luxury watch has such impact, that means owning one is beyond your means (at the moment). Sane folks will tell you that a watch is not an investment


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[2001jesper]

A "downgrade" to Omega or Tudor really want pocket you much. Keep it and enjoy or sell if there is a financial need.

Edit: Forgot grey prices vs. retail

[owl.]

You are not crazy. All of us should put luxuries to the side when it comes to prioritizing other things.

In my book, my first home would be above a watch.

An investment home would also be above a watch.

Anyway, sell it if you need the money for other things. But I wouldn't sell it and buy an Omega or Tudor. That will leave you with idk, maybe 3,000 to spare?

If you're having to sell stuff to acquire 3000, maybe a luxury watch isn't the best idea right now.

[brandrea]

Sounds like you have other more important priorities. I’d say to the OP for now.

Replace it when you are in a more comfortable position

[Sub*Man]

You need to be honest with yourself, if you weren't hurting for money, you wouldn't have asked the question, but "hurting" may need to be better defined. It sounds like you want to re-deploy the capital somewhere else, which implies that you don't have enough to accomplish the other objectives, or the watch is less important to you than the other objectives, ie a house, a ring, a Sub.

My advice. You can't save your way to more toys. You need to increase your income. Get a side hustle, put in extra hours etc, and buy what you really want. Whether it be a house, a nice ring for your girlfriend, and ultimately that Sub.

Selling your OP, while potentially realizing a small profit, will not accomplish the goals you have set forth.

Hope this helps.

[MONTANTK]

Originally Posted by HiBoost

Did you get it from the AD at retail? I.e. are you weighing a money making move versus a money reclaiming move? It seems to me that if you have asked the question, you already have the answer. If the watch spoke to you the way it should, you wouldn't even be considering. If after only a couple months with it you are debating getting rid of it, that doesn't sound like true love to me...

It was bought at retail. I really do love the watch (a lot more than I initially thought). My thought process is that I can take a profit and move it into something cheaper, that I also enjoy, and then hope down the road I’m able to get a sub or even a DJ while also pocketing some extra cash to set aside.

[MONTANTK]

Originally Posted by Sub*Man

You need to be honest with yourself, if you weren't hurting for money, you wouldn't have asked the question, but "hurting" may need to be better defined. It sounds like you want to re-deploy the capital somewhere else, which implies that you don't have enough to accomplish the other objectives, or the watch is less important to you than the other objectives, ie a house, a ring, a Sub.

My advice. You can't save your way to more toys. You need to increase your income. Get a side hustle, put in extra hours etc, and buy what you really want. Whether it be a house, a nice ring for your girlfriend, and ultimately that Sub.

Selling your OP, while potentially realizing a small profit, will not accomplish the goals you have set forth.

Hope this helps.

I’m comfortable with the purchases I have to make in the next 18 months but am looking at it from a more practical perspective. I’ll still have a nice safety net when it’s all said and done but at the same time I have the opportunity to take advantage of a nice profit and increase my safety net, then hopefully in the next 2-3 years move into something I can truly see myself owning forever while enjoying something cheaper but equally of interest.

[Sprezzatura!,]

Originally Posted by MONTANTK

Recently purchased an OP41 and a few months later I find myself on the hunt for a house. Also, in another 12 months I’ll have purchased an engagement ring and 6 months after that my lease is up. Now, I am not hurting for money by any means but it would be nice to downgrade to an Omega or Tudor and pocket some extra cash.

The downside is obvious. Rolex supply is very thin and although I have a good relationship with my AD, they don’t exactly get a lot of stock. I’m also approaching the point in my life where the money on a new watch could be better spent elsewhere. If I bought a new Rolex down the line I would prefer a Sub.

So, the pro is having the extra cash but the con is the difficulty of replacing it. Am I crazy for considering selling?

I really, really, have no idea why anyone come on to this forum asking for advice on a financial basis. Please don’t take offence OP, but you are going to get some dogsh*t responses.

In fact, here’s mine;

If you haven’t paid off your mortgage, or not paid off your car, or don’t have over 100k saved in the bank, then you shouldn’t be buying luxury watches.

Can you smell the sarcasm?

[Sub*Man]

Originally Posted by MONTANTK

I’m comfortable with the purchases I have to make in the next 18 months but am looking at it from a more practical perspective. I’ll still have a nice safety net when it’s all said and done but at the same time I have the opportunity to take advantage of a nice profit and increase my safety net, then hopefully in the next 2-3 years move into something I can truly see myself owning forever while enjoying something cheaper but equally of interest.

Well viewing our hobby through the lens of practicality may prove frustrating for you.

Again, if you think your net from the OP will increase your financial well being then you by all means should do that. It sounds like you're reaching a bit, but only you can make that call.

But houses and financial well being > watches, no questions asked.

[Sub*Man]

Originally Posted by Sprezzatura!,

I really, really, have no idea why anyone come on to this forum asking for advice on a financial basis. Please don’t take offence OP, but you are going to get some dogsh*t responses.

In fact, here’s mine;

If you haven’t paid off your mortgage, or not paid off your car, or don’t have over 100k saved in the bank, then you shouldn’t be buying luxury watches.

Can you smell the sarcasm?

Not so sure, I think 66% of your response make quite a bit of sense to me and I agree with the feedback.

[huncho]

unless you need the money there's no point in selling the OP. rolex is as good as cash, it's one of the most liquid assets and you can have the cash in your bank account tomorrow if you need it in an emergency, so why get out of something you won't be able to get in just to downgrade and hold the extra cash? holding cash is useless now anyway

[MONTANTK]

Originally Posted by Sub*Man

Well viewing our hobby through the lens of practicality may prove frustrating for you.

Again, if you think your net from the OP will increase your financial well being then you by all means should do that. It sounds like you're reaching a bit, but only you can make that call.

But houses and financial well being > watches, no questions asked.

That is a very fair point. To me it feels like a little bit of a stretch but it’s all subjective

[TimeAZ]

No, you are not crazy.
My 2 cents:
1. Always keep your Rolex, especially if you own one that has special meaning to you or a model that is very hard to replace. You are more likely to regret letting one go.
2. Downgrading will almost always result in dissatisfaction. Having said that, the BB58 is a damn fine watch and I think "up there" in terms of satisfaction, that would be a good direction to go. Get it on bracelet.

[MONTANTK]

Originally Posted by TimeAZ

No, you are not crazy.
My 2 cents:
1. Always keep your Rolex, especially if you own one that has special meaning to you or a model that is very hard to replace. You are more likely to regret letting one go.
2. Downgrading will almost always result in dissatisfaction. Having said that, the BB58 is a damn fine watch and I think "up there" in terms of satisfaction, that would be a good direction to go. Get it on bracelet.

I would certainly not move into something that I have no interest in owning. The BB58 is on my list, along with a Harrods, Carbon Aquaracer, Speedy, and a Panerai

[JonaG]

TRF 2021: downgrading from an OP. To me it makes no sense to go to an Omega or Tudor as that will surely lose you cash down the line. Either keep the OP or sell and wear a G-Shock until you’re ready for the Sub purchase.

[1665fan]

Saving 2-3k I wouldn’t think would help when buying a house and a wedding ring…..might need a little more than that……..and of course how much is 2-3k in NY???

[samuel019]

IMO just because you want to sell your OP it means you are not financially savvy. Or able to do those other things without selling your watch.

Sounds like to me you just want to liquidate your watch into some cash. I mean between my 326935 and 126715 that’s what 100kish? Could I do a lot of things with 100k? Uh yeah. So I get your question. Just think that if you’re gonna sell it use all the money for those other needs because after you buy something “cheaper” the net doesn’t really do much IMO.

Good luck.

[MONTANTK]

Originally Posted by 1665fan

Saving 2-3k I wouldn’t think would help when buying a house and a wedding ring…..might need a little more than that……..and of course how much is 2-3k in NY???

Haha it’s not NYC so money goes a little further. The money wouldn’t go towards the house or ring, just in my savings to have a bigger cushion

[MONTANTK]

Originally Posted by samuel019

IMO just because you want to sell your OP it means you are not financially savvy. Or able to do those other things without selling your watch.

Sounds like to me you just want to liquidate your watch into some cash. I mean between my 326935 and 126715 that’s what 100kish? Could I do a lot of things with 100k? Uh yeah. So I get your question. Just think that if you’re gonna sell it use all the money for those other needs because after you buy something “cheaper” the net doesn’t really do much IMO.

Good luck.

I am definitely able to purchase all of those things in the same time frame but it just means I would probably not have as big of a safety net as I would like for about 6-12 months after buying the ring

[Chiboy]

As others have said, "downgrading" from a SS OP to an Omega will net you very little towards a diamond ring and a house downpayment. If you are, as you say, "not hurting for money by any means" then why do this? If you do need more significant cash, swap out your OP for an Apple watch. Seriously.

[Aplover5]

Keep the watch

[Golfbone]

I agree....keep the Rolex. Unless you are getting 15K-17K or something that will really make a difference for it and then if you can and do forget Tudor or Omega....just wear a Swatch until you are ready to get another Rolex. Otherwise....keep the OP 41 because it is money in the bank. Tudor and Omega are not the same in that regard. The OP 41 is never going to lose it's value but the Omega and Tudor most likely will.

[donas]

Since you by no means are hurting for money, why get rid of it? I suppose with this logic, we'd all sell or "downgrade". I get my bills paid with plenty left over, but I'd also like more cushion, lol.

[doboy007]

To me it seems like you’re not in love with your watch and want to pocket some profit that can be put towards other things. If you’re not in love with it, sell it.

[calebb90]

Sounds like you bought it knowing you could flip for a profit then liked the watch more than expected.

I’d keep the watch and find another way to get the funds. And every time you look at the watch remember to not let fomo get your priorities out of whack.


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[TheVision]

I owned 2 Omegas (8900 planet ocean and then the new ceremic SMP). Both are excellent and offer more for the money than Rolex sub.

However, Rolex is Rolex. I sold both and am on the waitlist at my local AD. Or maybe I've been brainwashed by rolex marketing in wanting one :).