Buying the first luxury watch?

[GNews]

So...
I'm an 'adventurer' . What's that by definition? A person who will do whatever is possible to burn that money.

After repeating this cycle 2 times in the life, I decide this last time.. i'd buy some gold and also designer jewelry in the Carib... to keep myself from burning a hole in my pockets.

It worked. Small, carryable investments that I can always fall back on.

My next goal is to buy a nice watch. Anybody have tips? Are pre-owned rolexes like these below a good idea?

4

 

[Nat]

Good idea, splurging on items that have solid or appreciating values.

I've heard vintage Rolexs are generally a really safe bet. Also, helpful link.

 

[GNews]

Good idea, splurging on items that have solid or appreciating values.

I've heard vintage Rolexs are generally a really safe bet. Also, helpful link.

Exactly. Learning to spend on things that can retain value, early in life.. can make a HUGE difference in your outcome in life . IF this is taught to young successful, 1st time entreprenuers, it can make a huge diff in business potentials as well. Like a 2nd bank account.

None the less, Im thinking the best way to invest is in watches that have 18k gold or so. Would that not be true?

 

[Prentzz]

Learning to spend on things that can retain value
None the less, Im thinking the best way to invest is in watches that have 18k gold or so. Would that not be true?

What on Earth are you on about. Why would you ever put money into something that simply retains value unless you are already very wealthy, putting it into almost anything else will actually increase. The only people I know who hold gold are worth 8+ figures, USD dropping in value isn't making a huge difference to the 20k you have in the bank bro..

This makes my brain hurt just reading stuff like that. You don't know anything about investing in jewelry or gold it seems if you're asking for advice on an internet marketing forum. Just put all your money in a bank or a 401k, basically doing anything would be better advice than investing into something you don't know anything about and this comes from somehow who believes gold is going up.

 

[Ryuzaki]

to the 20k you have in the bank bro..

He might have 100x that for all we know!

My question regarding investments like these... You'll definitely be wanting to purchase insurance for the jewelry. Technically by the time you sold it you'll have taken a hefty loss, right? Which is fine if you like jewelry. But not if this is solely an investment. You'd do better to get a certificate of deposit with an interest rate that will not only beat inflation but net you some cash in the end.

 

[Darth]

Buy the watch if you can afford to blow that money and want to treat yourself.

Don't classify the watch as an investment unless you are buying some super rare, highly collectible one and are an expert, which it appears you aren't. Watches are not an investment for the masses unless you are an expert/a professional watch collector/trader.

It is otherwise not anything near resembling an investment.

I agree with @Prentzz, my head hurts reading this.

 

[Potatoe]

I don't know anything about investing in jewelry so maybe someone can set me straight, but it seems like it's maybe a bit of mental gymnastics to justify buying high-end luxury items?

I'm sure there are plenty of watches that go up in price over time, but I don't really understand buying luxury items to stop yourself from having the money burn a hole in your pocket. Isn't that kind of like setting your house on fire so that you don't need to pay for fire insurance?

 

[Nat]

I interpreted the OP to be saying "I have a history of flushing my money down the drain on things I totally don't need. I'm going to continue to treat myself no matter what. So, I've decided to buy unnecessary things I'll like that at least retain (or maybe grow) in value." Sure, he doesn't know anything about investing in watches, but its a heck of a lot better to encourage this type of thinking over buying designer sweatshirts with holes in it or an Xbox?

I don't really understand buying luxury items to stop yourself from having the money burn a hole in your pocket. Isn't that kind of like setting your house on fire so that you don't need to pay for fire insurance?

Seems to me the money isn't going to last no matter what, and instead of buying something really useless, hes going to buy something that hopefully has some lasting value. I don't know anything about jewelry either, I don't even own a watch.

 

[GNews]

Exactly.

To me it's just knowing your 'vice' and finding a way to retain value and not be bored.

I dont 'toss my money in the trash,' i just find value in things others might not. I love travel and find how I spend my time is more priceless than a dollar. I love fashion and art and can def burn some money there. That doesn't mean these things have no value. I actually made my first 6 figures from capitalizing off my knowledge of fashion. It's just, i find inspiration in less conventional or 'constantly preached' methods of business. I also hate repeating my past, many times.

None the less, this post was looking for people who care to share their experience in buying watches. What happened when you sold it later? Did you ever find a way to make gains? Were there any terrible pieces you purchased?

 

[eliquid]

I say do it.

Here is why.

We only live once. Let's pretend you don't buy it, but you would really like to. You don't though because you haven't reached Warren Buffet wealth yet and you think you gotta be that wealthy to start buying shit like these watches.

Then you get hit by a bus crossing the street next week.

What the fuck was your life good for?

I don't condone wasting money, but if that's the shit you want to make you happy, go do it.

I went to Disney World twice in less than 12 months time. Each time I went, I stayed at the nicest suite at the Grand Floridian and bought the Platinum meal package and went HAM. I don't care to say it, but I spent $14k EACH time I went on just the package alone ( not including gas, travel stuff, luggage I bought, etc ).

Do I honestly care what other people thought about it? Not at all.

Was I Warren Buffet rich? No.

Did those trips retain value or go up in value? No.

It made me happy. It made my 3 kids happy. I experienced 2 trips in a way that probably 95% of the people that go to Disney never will.

If I get hit by a bus tomorrow, I'd be salty a bit, but I'd be fine with how my life turned out because I got to do the things I wanted to do while living.

Don't be the guy that didn't live your life the way you wanted to.


The way I look at it, you could buy these watches and sell them later. Maybe even start a biz doing it on the side making a couple grand a month extra with no work.

 

[GNews]

Eliquid, i remember you on wickedfire and with that speech.. I know why you're in marketing
Anybody up for tossing midgets later? LOL

 

[Island]

In addition to what Eliquid says, I'd say invest in experiences unless you're a watch aficionado (which you don't seem to be).

For me, I have no desire to get a nice watch no matter how much money I have. If I had a lot of money to spend I'd blow it on travel.

In fact I don't have a lot of money but I'm still in an incredible apartment with a view to kill for in a nice warm country with a private chef in a city I enjoy hugely. This is way better than buying overpriced bullshit like everybody likes to.

 

[CCarter]

private chef in a city

Is the private chef in your city or in your kitchen mate... The distance matters.
--
I'm not a watch guy, I'm a car guy. That's how I have fun in this world. I like nice restaurants and higher-end places since the atmosphere itself is just better overall, and I love having lively conversations with intelligent people who are worthy. I'm not the "did you see the game last night" type of person, I'll leave that conversation quickly, I'd rather talk about big ideas and implementation and that usually happens in better environments, so that's where you'll find me.

I personally never notice people's watches or what jewelry they have on. I've never bothered to take the time to figure out the brands and all. That part of the life just never interested me. I'd put my money on experience first when it comes down to it, in the better seats.

 

[eliquid]

Is the private chef in your city or in your kitchen mate... The distance matters.

Id like to add one on top of that.

Is he private in the sense he only cooks for you, or does he have a list of clients... The number matters.

 

[GNews]

I already blew a lot on travel.

In fact, if you missed it, I live abroad now. I dont' live in the states.
I've traveled most of the US.. including Florida to Cali by car...... through the midwest by car.. flights to most everywhere. I lived in Denver, Santa Monica, NYC, Vegas, and more.....

I've been in 7 countries, not including US.

The constant moving is why i'm wanting to learn these things b/c I've had good experiences buying gold jewelry and own some high end diamonds. Would love to know WHERE/HOW to buy gold from people working mines and such. And by the way, all branded materials that have a following. It's about knowing where to find the audience. Also how to sell it in a format they can consume it for the highest price.

The great thing about these, they can be stashed anywhere. They retain a good bit of value. You can't 'spend' them but can have fun accessorizing with them.

My favorite thing to remember.. People sell cigarettes but they k now it will kill them. If death can't stop marketing, what can't be sold?

The reality is.. few of you/us talking will ever been a Warren Buffett.. nor a kobe bryant for that matter..... not even a Justin bieber... in terms of earnigs..... so as my guy eLiquid says, why be so 'uptight' somebody's buying a watch and just try to help pass valuable information across the board.

I'm not hear to swing nuts and tell you my value, but i've been doing well for a while now. Just because I know my worst habits and do something to make the best of them, doesn't mean they outweigh my best habits themselves.

 

[Island]

Id like to add one on top of that.

Is he private in the sense he only cooks for you, or does he have a list of clients... The number matters.

She comes for a few hours a day and cooks two meals(I only eat two meals a day). Probably has one another client?

Not sure where the conversation is going. If there's economic or enjoyment value in buying the watch go for it.... I was just making a point that experiences/learning > material things in my opinion.

 

[eliquid]

yeah, the talk about the chef was just playing around

 

[turbin3]

I'm one that buys and enjoys some of the nicer things in life. I've also known some that have purchased and/or taken part in some of those very same things...with that primary (and sometimes singular) focus towards investment.

Buys an exotic car, flips it in a year, makes a few grand. Marvels at the profit potential from the great deal they got on their Patek or Audemars...as opposed to marvelling at the beauty and intricacy of such hand-crafted elegance. Never even bothers wearing the timepiece. Drives that exotic barely 100 miles. Life enjoyment, not even once.

To each their own, but damn. Life can be more enjoyable than that, if you let it be. If your primary focus in all things is investment and other fiscal metrics....you're missing out on a whole lot of potential for enjoyment in life. The good news is, you will likely see great financial success in life, as opposed to someone seeking nothing except perpetual entertainment. That being said, don't forget to splurge once in awhile. Buy that exotic car because you want to, not just because it may be fiscally advantageous.

 

[Michel]

I would do it if I was you, depending on some things.

My friend from teenage years is a watch maker now and happens to work in a Rolex store and he has a few saying that is quite good way of looking at luxury watches.
"If you're constantly walking around worrying if you will damage your watch so does it cost to much for you." since watches get dinged, scratched and a bit banged up trough the years of owning them. Also the average rolexes are not really investments, sure the second hand prices they can fetch is pretty good but most of them always just loose value.

Second thing he likes to say is that if you're looking at mechanical quality/price so is Seiko the most bang for your $ after that so do you start paying more and more just for the brand.

Tag Heur and Omega might be considered quality but to many parts in there are made of plastic and are common that they break

I personally have been walking by the Rolex store for a few years when I goto the gym and have been eying out this model and used it as my carrot. Only problem I found it was when I was told that it was the damn platinum model. it goes for 2,400,000 THB =67,264.57 USD since I'm in bangkok and I'm not sure I can ever justify that price.

http://static1.squarespace.com/stat...b6f9/1367364377056/RolexDaytonaPlatinum-6.jpg

 

[GNews]

You know. I'm a fan of 'fossil' watches but decided to go upward to have a little bank in a box.

That watch is nice but yeah, $70k... jejejeje.. not happening.

You famliiar with the Cartier Tank?

In the Cartier store in Vegas they broke the story down for this watch. It's a lowkey favorite and said to possibly retain value. Was he blowing me steam or what? If anyone knows about it.

range of price: $8k - $170k for the tank Anglaise. I like the solid bands.
http://www.cartier.com/en-us/collections/watches/mens-watches/tank/tank-anglaise.html#

 

[eliquid]

If I were to do this, I'd prob pick one brand.

I'd learn everything about that one brand. Almost become an expert in it somehow.

Then i'd buy and collect that one brand looking for deals all around. Possibly sell some as needed.

But that's me. I'd probably stick to Rolex myself just because every single person knows that brand of watch. You could sell a Rolex to anyone almost.

If you tried to sell me a cartier or briet, i'd prob have heard the brand name before, but have no clue if its really a popular watch or valuable. Rolex just cant be beat when it comes to mass brand name for luxury.

Learning about a Rolex is pretty easy too, they have been massive copied and replicated so much there is a ton of info out there on them.

But again, that's me.

 

[GNews]

Points for sure.

I was looking at this Cartier that looks like a store display or something. Practically new 2010 for under $10k. It's 18k gold....... which is also a double benefit.

At this moment, I probably know more about Cartier. I was leaning to a Tank and a Rolex.

https://www.amazon.com/Cartier-Amer...1481509521&sr=8-32&keywords=cartier+tank+gold

 

[dresden]

Late to the party on this, but I'm super into watches. Total fucking nerd alert.

Rolex? Naw.

Establish a budget first. I love my Nomos Tangente ($3k ish?) - tremendous in house movement out of Glasshutte Germany.

If you want to throw $30k+ go for an A Lange & Sohne. Fuck out of here with that cartier fashion watch bullshit.

Also, who buys new? Go to chrono24 like the rest of us and piss your money away with dignity!

 

[GNews]

Late to the party on this, but I'm super into watches. Total fucking nerd alert.

Rolex? Naw.

Establish a budget first. I love my Nomos Tangente ($3k ish?) - tremendous in house movement out of Glasshutte Germany.

If you want to throw $30k+ go for an A Lange & Sohne. Fuck out of here with that cartier fashion watch bullshit.

Also, who buys new? Go to chrono24 like the rest of us and piss your money away with dignity!

retain value at all?

 

[dresden]

All day. Key is to buy at used prices... you'll be able to sell at at least those again (presumably in most cases).