Should I sell my Rolex to pay off last of debt?

DoubleNugget

It's model 179179. I don't have photos right now. No diamonds.

cloud_dog

DoubleNugget wrote: »

Should I sell?

No. Don't use a gift to get yourself out of a self inflicted hole.

I know this is harsh but....

If it was me I wouldn't sell it unless the proceeds would help with someones health (operation / treatment). Do you really need to service the watch?

Living_proof

My partner has a rolex which he wears constantly. He is always looking at the price in jewellers and just recently he feels it has not held its price. I think it has had its day really - to everything there is a season and I think this is over frankly. I am rather biased as I don't wear a watch, instinctively know the time and think it is lunacy to have such a high value item to insure etc. when a much cheaper one would make more sense.

savings_my_hobby

Usually I'd say sell it and pay your debts.

But this is a present from your Dad so you need to weigh up the sentimental value versus your debt. Your choice.

I'd like to think I'd keep the watch, then again i'd like to think I wouldn't get in debt in the first place.

I'm not judging either I as I don't know a thing about your circumstances

DoubleNugget

I'd like to keep the watch because it is beautiful. It has zero sentimental value, I wish it had but it's just a watch.

The reason I'd sell is its £4000 I could use to pay off remaining £2225 in credit card and some of car loan.

But if it's going to be a better deal to wait and keep as an investment I'll do that.

Dan83

When I was younger I bought a £10,000 watch, I live in an ex-council house in a ruff area, I drive a company car Toyota, I don't have the life style to go with the watch, but u wanted it do bought it.

If you don't want it, then sell it. You don't have to insure or service it. I work in a garage and I wear mine for work.

HAMISH_MCTAVISH

DoubleNugget wrote: »

It's model 179179. I don't have photos right now. No diamonds.

Nice watch.

Ladies DateJust... If it's in good nick and comes with box and papers you could get between 6K and 7K in a private sale or around 4K to 5K from a dealer.

Don't know I'd sell anything that precious I got as a gift from someone close, but to be fair, that pays a lot of debt off if it's something you never use...

Stubod

..sell it, (assuming you can get a good price), pay of debt or overpay mortgage, buy cheap watch....no brainer in my book.

lawriejones1

I'm not sure if your dad is still alive, but I'd have a chat with him about it...

Your guilt is the emotional attachment you have to it. Speak to him, and discuss it. He'll understand, and then you can decide what to do safe in he knowledge he won't ask where the watch is...

melbury

Your dad gave it to you, so keep it. Don't you feel it has any sentimental value?