Man math in buying high end watches

[bmw0perat0r]

Originally Posted by csu87

I have seriously considered buying a couple watches at that $20k mark a few times, but everytime I actually think about it, I picture all the things I can buy with that $20k. And if I did have a $20k watch, I'm not sure how often I would wear it. I tend to wear my cheap $100-300 watches much more than my $3k-5k watches just for the fact that I will bang my wrist against something hard that will mess it up.

Maybe one day I'll splurge on a $20k watch, but I highly doubt it unless i win the lottery.

I understand the logic and agree for the most part. Although I wear an expensive watch everyday, and yes it has some scuffs, you can always send it in for a polish and repair.

If I buy it, I'm going to use it regardless of the cost.

As for a $20k watch? I'd base it on a % of earnings/month over time and cost it out. For example, if I wear it twice - I just paid $10k each time I wore it. If I wear it everyday for 3 years (roughly 1000 days) then its $200 each wear. You get the idea. Pretty standard finance/accounting stuff.

Based on this, unless my earnings made it reasonable - I would not likely buy a watch at such a high cost.

If you can justify it then go for it!

[csu87]

Originally Posted by bmw0perat0r

I understand the logic and agree for the most part. Although I wear an expensive watch everyday, and yes it has some scuffs, you can always send it in for a polish and repair.

If I buy it, I'm going to use it regardless of the cost.

As for a $20k watch? I'd base it on a % of earnings/month over time and cost it out. For example, if I wear it twice - I just paid $10k each time I wore it. If I wear it everyday for 3 years (roughly 1000 days) then its $200 each wear. You get the idea. Pretty standard finance/accounting stuff.

Based on this, unless my earnings made it reasonable - I would not likely buy a watch at such a high cost.

If you can justify it then go for it!

Ive ruined too many watches, both cheap and expensive, at work to wear an expensive one too often. If i know I'm staying in the office or going to meetings all day, I'll wear an expensive one but if I'm going to be out in the field, cheap it is.

[bmw0perat0r]

Originally Posted by csu87

Ive ruined too many watches, both cheap and expensive, at work to wear an expensive one too often. If i know I'm staying in the office or going to meetings all day, I'll wear an expensive one but if I'm going to be out in the field, cheap it is.

Then I would say - I think what you're doing is smart.

[ASAP]

Originally Posted by csu87

I have seriously considered buying a couple watches at that $20k mark a few times, but everytime I actually think about it, I picture all the things I can buy with that $20k. And if I did have a $20k watch, I'm not sure how often I would wear it. I tend to wear my cheap $100-300 watches much more than my $3k-5k watches just for the fact that I will bang my wrist against something hard that will mess it up.

Maybe one day I'll splurge on a $20k watch, but I highly doubt it unless i win the lottery.

Drives an 09 335xi... considering 20K watch... math doesn't add up right there...

[vsix]

Originally Posted by ASAP

Drives an 09 335xi... considering 20K watch... math doesn't add up right there...

There is a certsin flavour in your words, that I personally dislike but there is "some" truth in it.
If you drive an car, that is worth as much as your watch, sit in an rented flat and usually struggle to pay bills, then forget your expensive watch idea.

Thats not the way we do it, that wear those watches. Some of us have assets, no loans whatsoever and therefor have income from multiple sources. There is no need to even try to keep up or measure yourself with some of us.

So for your better understandig: It is normal NOT to sport an 20k watch at a young age. I know some do but as mentioned, have an whole different financial background.
Focus first on the house, look to pay it off as fast as you can, then consider a freaking 20k watch. Heck, buying such a thing in the wrong neighbourhood can get you easely robbed or killed! The thing is: Everything needs its healthy balance. Like ying & yang! For a 20k watch, you need a house, a gate infront of your house. A few cars, the right neighbourhood and maybe an G-wagon.
Eventhough the last sentence was ment to brighten the readers mood, it still has some serious meaning to it. Just live within your means.
To sum it up:

Rule #1
Paying rent = No 20k watch
Rule #2
Paying loan of your car= Rule #1
Rule #3
No assets= Rule #1

Keep your feets flat on the ground, focus your realistic goals and keep the faith.

[Nivarox]

I have been buying watches ,only 2 of them exceeded 20K mark and later I sold one of them to make funds for next purchases .
I am not gold / platinum lover instead I prefer buying something that cuddles my eyes the most .
For instance: I have BLNR GMT MASTER II , I prefer it over full gold because of bezel combo .I have two DJ IIs and prefer over any DD II or 41 that's only available in pricey metals .Because I am not fond of bracelet design of DDs
I have 5 Rolex watches it may sound a lot but none of them combined in price would reach over the retail price of 116506 Platinum Daytona
Sometimes, one say quality over quantity . Albeit I echo this in some respects though .I never buy white gold at all
I buy something because I like the idea of having and wearing it ,not to impress others.Watches are not investment items unless you buy something that sit in drawer or safe and has a worth $$$$$ because of name but unappreciated by owners ,you could jump in the boat to grab it before others but that still is not warranty that you could make money in auction

[csu87]

Originally Posted by ASAP

Drives an 09 335xi... considering 20K watch... math doesn't add up right there...

also have a 2016 2500 and 2016 a6 with a $500k house but whos counting

$20k is roughly one project bonus, of which several finish a year, so buying a $20k watch is not out of the question.

Way to look like a douche though. bravo.

[kawstik]

Originally Posted by ASAP

Drives an 09 335xi... considering 20K watch... math doesn't add up right there...

Spoken like a pompous trust fund tool. We'll done.

I have an obsession with watches. Partcularly Audemars Piguet watches, which almost all run north of $20k. What I don't have is a desire to collect them, only enjoy them for awhile.

I bought my first AP RO about 12 years ago from a jeweler who was going out of business, for about half off of retail (paid $13k). After about 6 months, I got an itch for something different, but couldn't justify (at the time) shelling out the $19k asking. So I sold my first AP to fund my second. Being that I got it so cheap (respectively), I made $8.5k when I sold it.

A means to feed my AP obsession was born.

Over the years it has become an exhilarating hobby, and a quite profitable side business. At any given time I've got a handful of APs on hand. I made an absolute killing buying up a couple dozen during the market crash in 08/09, and hanging on to them for a couple years before selling them.

Sometimes I break even, or even lose a few bucks. But far more often I find a great deal on the watch I want at the time, enjoy it for awhile, then pass it on and put a few grand in my pocket.

My current hunt is for the unicorn - an AP ROO Lava. Only 99 were made so I may have to bite the bullet on this one.

[Flying Ace]

ehh...everyone has their thing...ours is our cars, for others it's an expensive watch or a bike or a purse.

Just make sure you got your priorities straight. What's your retirement account looking like?

[1MOREMOD]

Terrible, i have too many expensive hobbies

[Benedict1957]

Originally Posted by kawstik

Spoken like a pompous trust fund tool. We'll done.

I have an obsession with watches. Partcularly Audemars Piguet watches, which almost all run north of $20k. What I don't have is a desire to collect them, only enjoy them for awhile.

I bought my first AP RO about 12 years ago from a jeweler who was going out of business, for about half off of retail (paid $13k). After about 6 months, I got an itch for something different, but couldn't justify (at the time) shelling out the $19k asking. So I sold my first AP to fund my second. Being that I got it so cheap (respectively), I made $8.5k when I sold it.

A means to feed my AP obsession was born.

Over the years it has become an exhilarating hobby, and a quite profitable side business. At any given time I've got a handful of APs on hand. I made an absolute killing buying up a couple dozen during the market crash in 08/09, and hanging on to them for a couple years before selling them.

Sometimes I break even, or even lose a few bucks. But far more often I find a great deal on the watch I want at the time, enjoy it for awhile, then pass it on and put a few grand in my pocket.

My current hunt is for the unicorn - an AP ROO Lava. Only 99 were made so I may have to bite the bullet on this one.

A couple dozen? So during the market crash you spent 24*$20k = $480k (minimum) buying up AP watches as side hobby and investment? Are you kidding me?

I mean spend your money however you see fit, but you make it sound effortless to make money (however little) buying and selling luxury watches.

[csu87]

Originally Posted by Benedict1957

A couple dozen? So during the market crash you spent 24*$20k = $480k (minimum) buying up AP watches as side hobby and investment? Are you kidding me?

I mean spend your money however you see fit, but you make it sound effortless to make money (however little) buying and selling luxury watches.

Im sure he wasnt spending $20k a piece during the crash. I never looked at AP prices, but prices of just about everything were insane and you could make a killing if you had the available cash to buy up all the luxury items that people were dumping and waited till things turned around to sell.

[kawstik]

Originally Posted by Benedict1957

A couple dozen? So during the market crash you spent 24*$20k = $480k (minimum) buying up AP watches as side hobby and investment? Are you kidding me?

I mean spend your money however you see fit, but you make it sound effortless to make money (however little) buying and selling luxury watches.

A couple dozen was a bit of an exaggeration. If memory serves, I bought 19 total. The APs I was scooping up during the crash were going for 1/4 of what their value was just months before everything went to shit. I sunk just under $100k in APs during the crash, which at the time was around half of my life savings.

Two years later, when they started approaching pre-crash value, I unload most of them. I used the profits from the watches to buy a few foreclosures and turn them in to rentals in the Orlando area, which was hit extremely hard by the crash.

It was a huge risk, but proved to be a life changing investment for me.

[NemesisX]

Originally Posted by kawstik

A couple dozen was a bit of an exaggeration. If memory serves, I bought 19 total. The APs I was scooping up during the crash were going for 1/4 of what their value was just months before everything went to shit. I sunk just under $100k in APs during the crash, which at the time was around half of my life savings.

Two years later, when they started approaching pre-crash value, I unload most of them. I used the profits from the watches to buy a few foreclosures and turn them in to rentals in the Orlando area, which was hit extremely hard by the crash.

It was a huge risk, but proved to be a life changing investment for me.

God damn you have some balls. I'd never have the courage to invest half my savings into a high risk investment like that, but I'm glad it worked out for you. More power to you!

[fcman]

Originally Posted by bmw0perat0r

As for a $20k watch? I'd base it on a % of earnings/month over time and cost it out. For example, if I wear it twice - I just paid $10k each time I wore it. If I wear it everyday for 3 years (roughly 1000 days) then its $200 each wear. You get the idea. Pretty standard finance/accounting stuff.

That's some "government contractor"-level finance/accounting stuff

[David70]

Originally Posted by bmw0perat0r

As for a $20k watch? I'd base it on a % of earnings/month over time and cost it out. For example, if I wear it twice - I just paid $10k each time I wore it. If I wear it everyday for 3 years (roughly 1000 days) then its $200 each wear. You get the idea. Pretty standard finance/accounting stuff.

I would also figure in what it is still worth and if it was still worth $10k then the $20k watch worn 1000 times and now worth $10k cost $10 per wear.

[csu87]

Originally Posted by David70

I would also figure in what it is still worth and if it was still worth $10k then the $20k watch worn 1000 times and now worth $10k cost $10 per wear.

if he paid $20k for it, it would still be $20/wear even if it was only worth $10k now.

[David70]

Originally Posted by csu87

if he paid $20k for it, it would still be $20/wear even if it was only worth $10k now.

Bought it for $20k, lost $10k in value and still has $10k in value. Sells it at the end of 1000 wears and it cost him $10 per wear. I don't see the money being lost if the watch still has the value.

Just like a business shows the assets as still existing and having a value, not gone because the money was spent on them.

[csu87]

Originally Posted by David70

Bought it for $20k, lost $10k in value and still has $10k in value. Sells it at the end of 1000 wears and it cost him $10 per wear. I don't see the money being lost if the watch still has the value.

Just like a business shows the assets as still existing and having a value, not gone because the money was spent on them.

I see. Didnt realize you were selling it at the end of the 1000 wears.

[ASBSECU E93]

$20k not going into a watch in my lifetime...

$20k will go into R/E in my lifetime...

[bmw0perat0r]

Originally Posted by fcman

That's some "government contractor"-level finance/accounting stuff

I don't think anyone hear wants me to start ranting on about complex finance... i thought it was sufficient enough to put it simply so that people's heads don't explode.

[ny325]

20k for a watch is not happening for me.