Spending dosh on a unnessary item

gadgetmind

I guess each to their own. I like watches (and pretty much everything else) to be well-engineered but also under-stated.

My current watch is a Titanium Skagen that fits nicely under my sleeves and cycling jacket. Time keeping is great, looks good, works for me.

Some won't understand why I spent so little, others why I spent so much.

I can't remember what it cost!

noclaf

To the OP - I can relate to your love of timepieces.I have around 14 watches in total..only two were fairly expensive, an Oris and a Tag..rest were fairly reasonable if not a bit pricey but looking back (bought most of them in my late 20's, am 33 now and bit wiser), I do regret spending so much on them and would rather have that money in the bank.
whatever you do think about it carefully...if you do decide to go for it...be wary that 'one' can turn into many more! lol

YoungBusinessman

One smart pricey watch at 3kish when you save 30k a year? You won't stop at one if you do decide to go for it but hey at least it's your own money and you can afford to....

kidmugsy

I've always resented paying for a watch ever since I got a free digital one with my toothpaste.

averageish

There are only two brands of watch I'd consider if you're looking for something which will hold its value assuming you buy second hand. Not appreciate mind, hold, so you'll always lose out eventually unless it's something very special that a collector will pay a premium for. The two brands are Rolex and Panerai.

Watches and investment dont really go together unless it's a rare piece or could become rare in the future.

bowlhead99

averageish wrote: »

Not appreciate mind, hold, so you'll always lose out eventually unless it's something very special that a collector will pay a premium for. The two brands are Rolex and Panerai.

Watches and investment dont really go together unless it's a rare piece or could become rare in the future.

Rolex is likely to be the best or one of the best at holding value and has been for years, such is their marketing machine and position in the public consciousness. There's always a ready market; at the moment something more sporty rather than dressy would seem a decent 'investment' (not to make money, just not to lose so much as a less demanded rival).

Some Patek Philippes will do very well too (on average, a step up in prestige from Rolex, but at the ultra high end you get people who are happy to throw $50k on a watch and don't need to save $20k by going second hand). I agree, it's not about appreciating, simply not depreciating so bad while you're enjoying it.

Panerai I'm not so sure on. Collectors will definitely pay a premium for the special editions and there's that nice story about when the Panerai CEO was buying up pieces for their museum he picked up something in the 90s for €2k that ended up auctioning for 300k+ a decade and a half later. Second hand Panerais seem to be getting more popular but many of them are huge - not everyone can carry off a 45mm watch even if it's well styled. So IMHO if you're not lucky enough to catch a special edition at the right time, you'll lose out at the point when 'bling' is less trendy.

There are certainly some other quality brands I'd be happy to buy second hand and not expect to lose a big percentage on - JLC for example.

The one thing most people would agree on (other than Rolex holding value better than most) is that if they're hoping to preserve value of a timepiece, don't get a woman's watch. Call it sexism but watches in the £xxxx price range and above are often bought as gifts, and second-hand jewellery is simply not as well received. A 'bloke' might like a bit of quality engineering on his wrist and be happy to get a classic or a future classic for half to a third of what it would have been new. Less so with the ladies who are, as a generalisation, not as interested in cogs and springs and well oiled machines and buying them for themselves at high £££. You can call it male chauvinism as I'm a man writing this, but you can see the results of what society thinks in the prices of second hand ladies' watches.

lalman

Thanks for all the information - I expected this thread to die but it seems to have taken a life of its own. I went to the store to have a look at the watch with a family member and they gave me some honest advice 'You can get a nicer watch for that sort of money'... + the feeling of guilt spending that much money on something... has made me not purchase it... yet. Still looking but want to make sure its the right one (as its a once in a decade purchase).

I am not bothered by status symbols... I just save such a large proportion of my salary that as a 28 year old I feel I should be 'enjoying' what I am earning... rather than tucking away more money in 2 months than some of my friends have saved all there life.

What I do know is, i want to be certain about it rather than spending a lot of money on a watch and then later regretting it (as some of the comments above have stated).

If you do want to be kept informed and this thread dies - drop me a PM... happy to send you a pic when i finally get it lol.

gadgetmind

The Five Stages of Acquisition, according to the Ferengi, are infatuation, justification, appropriation, obsession, and resale.

You're currently at "justification".

N1AK

lalman wrote: »

Is it stupid to blow a months savings on a watch?

Any and all thoughts welcome.

It depends on whether you think the watch is a better use of the money than whatever you would have used the money for instead. If you're living comfortably and have sound financial plans for the future then there's nothing 'wrong' with spending that on a watch.

guymo

lalman wrote: »

I am not bothered by status symbols... I just save such a large proportion of my salary that as a 28 year old I feel I should be 'enjoying' what I am earning... rather than tucking away more money in 2 months than some of my friends have saved all there life.

Maybe the question is therefore how much you will 'enjoy' owning this watch. The above post made me wonder whether you are searching for something to spend some money on and landed on this watch as a possibility. There will definitely be things in the world that you can spend money on that you will enjoy a great deal. Your mission is to find out what they are. Maybe the watch is it, maybe not.

Me, I have an Omega Speedmaster that I have worn every day for over ten years, and very much enjoy, because my wife gave it to me on our first anniversary. I don't know how much I would value it if I'd just bought it for myself.