Weird conversation with my neighbor

[HideMyWalletPlease]

So this happens more and more often lately. People in my building know I like wearing watches and more and more they are stopping me to talk about how they can buy a watch but it’s always from an investment standpoint. Today’s conversation went like this:

Neighbor: hey man I’ve had no luck buying a new Rolex so I wanted to ask you should I get a used Rolex or a new Cartier.

Me: I would probably buy a new Cartier, if you like the watch that is.

Neighbor: But I heard a Rolex hold their value better.

Me: Its a watch not a house. It’s not an investment. You are not going to retire on this watch.

Neighbor: But wouldn’t I lose less money on a used Rolex?

Me: Right now a gently used current model is pretty much trading for retail or more. So by the time you buy at retail and sell at wholesale not really.

Neighbor: I don’t know man, that’s not what I heard.

Me: Buy the watch you want to wear.

[28mm]

That's the basic conversation with anyone I know vaguely and they start to talk about watches..

Not exceptions..Even with friends...investment is always part of the discussion.

Luckily no one in my building other than the building manager talks to me about watches. The manager has a relative who works at Rolex and hooks him up with watches! I don't love talking to him too much either! lolol

[mountainjogger]

Your neighbors sound like many members on this forum.

[28mm]

Originally Posted by mountainjogger

Your neighbors sound like many members on this forum.

[dnd2984]

What's your neighbors user name?

[JayHantz]

Originally Posted by mountainjogger

Your neighbors sound like many members on this forum.

[denmanproject]

Sounds about right

I have a friend (loosely worded) who is oblivious to the market just knows that Rolex = $$$ so he is constantly sending me posts from FB marketplace asking if they are low enough to flip. Also wants me to sell it for him lol

[Forty6nTwo]

and here all I want is a watch to wear the crap out of it

[Bizcut1]

I wouldn’t say that’s weird at all. Sounds about normal these days.

[Krash]

So what specific Rolex and Cartier models are we talking about here?

I like the Cartier Tank and Santos a lot but I just like a lot of Rolex models much better.


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[Carguy87]

Originally Posted by Forty6nTwo

and here all I want is a watch to wear the crap out of it

+1 here. My JC is already scratched and has a good ding from being almost daily-ed since I got it in March. Hoping for a BLNR on jubilee to do the same to!

[Njkdog]

To be fair, same goes for a house. Doesn’t matter if you buy it for a million and sell it for 900k. If you live in it for 60 years, raise a family in it, it served its purpose.

[HideMyWalletPlease]

Originally Posted by Krash

So what specific Rolex and Cartier models are we talking about here?

I like the Cartier Tank and Santos a lot but I just like a lot of Rolex models much better.


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I didn’t get into that. It was more telling him that he’s not going to be able to buy a used Rolex and flip it for any kind of real profit in a short time frame. I told him to just buy something he likes. The Rolex will likely hold more of its value over a long period of time. So if he goes that direction, that would be the upside of choosing Rolex. On the short term, if he needed to sell it soon, he would lose less.

I also asked him why do you want a watch at all, and there was really no answer.

[iTreelex]

Unfortunately, this is what's become of typical new Rolex owners or seeking to be Rolex owners. Most aren't watch enthusiasts anymore.

[Tim Plains]

You're buying for thr wrong reasons.
That's all I would have said.

[Jay2101]

Had the same thing with my neighbor/friend. He wants to buy a Rolex sports model at the AD for investment purposes. He doesn't really wear watches, although he has a nice Santos. He didn't even bother to set the time when we went to try out some watches at grey dealers. Boringest watch shopping I've ever been on. All the questions were about reslae value on different models.

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[SLWoodster]

I have friends like this. Recently, I have been telling them that I'm not really into it actually. Just have it from special occasions.

[bluestreak]

Originally Posted by Tim Plains

You're buying for thr wrong reasons.
That's all I would have said.

These are multi-thousand dollar pieces of jewelry that do the same thing a cell phone or a 20 dollar quartz watch can.
All the reasons for buying watches are the wrong reasons.
I’m not going to judge any particular person’s motivation. It’s their money.

[teck21]

Originally Posted by Bizcut1

I wouldn’t say that’s weird at all. Sounds about normal these days.

Normal these days, and going forward. Forever.

A new huge chunk of demand for Rolex watches that never used to exist until recently has been created.

That’s not good at all for purists.


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[Moondoggy]

Goodness me.

[Sandpit]

I hear the same things from people who aren't "watch people".

Its commonplace for the normal folk to buy on the assumption that they can buy and it won't lose value. I think this is one of the key contributors to high demand.

Once the normals get a whiff that prices are dropping and that the value retention aspect might not actually be true I think demand from these people will quickly drop.

[Incroyable12]

Not considering resale value when buying a new watch seems rather misguided to some degree.

I'll bet there have been many instances of people who paid a lot of money for Breguets, JLC or Blancpain at retail and were shocked to learn what kind of money they get when they decide to sell or trade for another watch.

There's also a reason why Patek collectors are so obsessive about collecting Pateks: the value retention. You don't see that with Vacheron which is why people always have to bring up the brand every few years and say what a great "value" it is.

[Cauhauna]

weird

[Chewbacca]

OP’s suite is gonna be cleaned out soon if his building knows he’s the resident watch guy.

[28mm]

Originally Posted by Tim Plains

You're buying for thr wrong reasons.
That's all I would have said.

I'd never say such a thing...Why put the effort out there? Then it's a conversation. If it's a friend or in context someone I care about then sure but a random neighbor? I'd nip it in the bud, short sweet and mention an AD that always hooks me up..Of course not my real AD! hahaha

Originally Posted by Chewbacca

OP’s suite is gonna be cleaned out soon if his building knows he’s the resident watch guy.

Exactly.

[Krash]

Originally Posted by HideMyWalletPlease

I didn’t get into that. It was more telling him that he’s not going to be able to buy a used Rolex and flip it for any kind of real profit in a short time frame. I told him to just buy something he likes. The Rolex will likely hold more of its value over a long period of time. So if he goes that direction, that would be the upside of choosing Rolex. On the short term, if he needed to sell it soon, he would lose less.

I also asked him why do you want a watch at all, and there was really no answer.

I think your last answer is correct.

“By the watch you want to wear.”

I don’t dislike Cartier, but there is literally no possibility of me ever advising someone to get a new Cartier Santos over a used Submariner that’s in good condition.


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[omar-rye]

It's one thing to aspire to wear a particular watch and (as a bonus) it happens to retain its value. But it's another thing to treat watches as investment vehicles or as if it's the damn stock market . These newbs think their modern Daytona's, Subs, GMT's, etc will be their retirement fund or "get rich quick scheme" because they saw on the Antique Road Show a 6263 Daytona valued at $700,000 or some other bullshit. Ladies and gentleman; that ship has sailed.

P.S. if you want to purchase a watch without losing money out the door... buy it when it's out the door

[minute_man]

Originally Posted by Chewbacca

OP’s suite is gonna be cleaned out soon if his building knows he’s the resident watch guy.

Yup. I would be concerned about security at this point. No offence OP, but perhaps you should, hide your wallet. People are not always happy to see others doing well

[norcalctr]

I would be avoiding your neighbors if that’s the kinds of conversations I got lol

[mquarter]

You're a better gatekeeper than Heimdall