To sell or not to sell? That is the question :thinking:

[watchtabs]

Before you read further:

1. I am not looking for buyers in the forums, my PM is full, so don’t waste your time! I already have a buyer, and I would not sell to anyone but this buyer.

2. I am posting this because I’d like to get some confirmation of 1. Am I right to feel like selling is simply me being impulsive, or 2. I’m correct in thinking of selling.

3. I’m posting this in the PP forum because ya’ll are my PP brethren, and I’m particularly interested in hearing from PP owners.

Alright so here we go, here’s some backstory for context.

I have grown my collection in the past few years, have gone beyond the entry level of Omega, Rolex, into AP and PP.

Now I feel as if having so many watches (about 8) are too many for me. I am not enjoying each, simply put they feel like ‘worries’ more than ‘pleasures’. This is probably the only valid reason for considering selling. I have always said, if you don’t have peace of mind, that probably means you can’t afford it. My income from multiple sources is in the half mill mark.

Currently, I have been doing a ton of home renovations, and in the past year, I have probably spent over 200k, and while I have savings, I have yet to pay off my mortgage.

So here’s the offer I was given by a reputable dealer:

Sell my 5712, 15300 (white) and Reverso duo face for about 80k (5712 at 55k). I’d use that money and dump it straight to the house, and pay about a 3rd of my mortgage off in one go (last 20% of mortgage pending!)

So here’s how I’m feeling as I write this.

1. It feels as if I am considering selling because it’d be instant gratification; I could be patient and wait.

2. Honestly, I can make that 80k in 3 months without a sweat.

3. I feel a bit guilty that about 15% of my yearly income is tied into those 3 items.

4. If I were to ‘offload’ these 3, I’d still have a great collection, 5164, GMT 16710, Rolex Kermit, AP RO Dual time and Omega Speedmaster.

5. Through the process of writing this, putting it down on paper, I am rationalizing just keeping the watches. That the offer is not that great either. But I am still posting because I think we might benefit from this sort of collective thinking, and hell; I really appreciate your opinion.

With that said, my mind is at 80% keep, 20% sell. I’d love to know your reasoning, which way you’d go given the circumstances I’ve laid out.

[nyc2la]

Without getting into what you should do, 55k for a 5712 is a terrible offer in today’s Nauti climate.

[gmt3]

Originally Posted by nyc2la

Without getting into what you should do, 55k for a 5712 is a terrible offer in today’s Nauti climate.

That’s actually my first thought too. You can at least get close to the 100k on all 3 of those watches, not like i’m an expert on pricing...


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[Humble michael]

Yep If you decide to sell 5712 call David SW and he will give you much more for 5712.To your question - why sell? If you can make 80k in 3 mos,simply set as a goal of throwing at least half of that at your home loan- in 6 mos you have your 80 (or more) and your time pieces too! I would then Continue and get real serious about paying off the house wi a year after that.It is soooo good to be debt free! I have been for many years and would never go back to bondage of a mortgage. Your timepieces are assets you can always sell and will imo at least hold their value , probably increase! Don’t get impatient- you would find it VERY difficult and expensive to replace 5712 when you start missing it ( and you will imo). Just so thoughts for you. Wish you the best, james in San Antonio Texas.:-)

[tonupbklyn]

sell the RO dual time, keep the 15300.

[Rwatcher]

Nice context to what I am sure is a relevant question for many here,

Gut feeling would be to keep hold of the 5712 as sourcing another maybe near impossible in the current climate. However your points on the collection being one or two above comfort is valid and does cross my mind also.

I would possibly just change out the 3 you are looking to sell. Keep the 5712 and move the speedmaster along with the 15300 & reverso. You still then reduce your capital in the collection and have some funds 28-30k USD realised to do as you wish even if that is just to become more liquid.

Or... pending wrist time, the 5164 is fetching a very healthy premium currently and could be liquidated to raise the number.

Best wishes with you choice and look forward to more feedback from the Patek WIS.

[Rsubnodate]

Keep them and be patient. You will have that money in 3 months. Then you can revisit the idea.

[AK797]

Originally Posted by nyc2la

Without getting into what you should do, 55k for a 5712 is a terrible offer in today’s Nauti climate.

My first thought too when Greys here are asking over $100K, think you need at least ten on top, maybe best to sell this privately with known buyers.

I would keep the 12 and 64 and sell all/most of the others.

[brandrea]

Originally Posted by nyc2la

Without getting into what you should do, 55k for a 5712 is a terrible offer in today’s Nauti climate.

Not a PP owner but I second this. You’re about 25k off

[Ichiran]

Am surprised all the posts above were so serious. :)

[manilenyo]

I'd keep all if finances are in place. Except for the Reverso, the Speedmaster, and maybe the RO Dual Time, most of your watches would be hard to re-acquire once they're gone.

[Humble michael]

Originally Posted by Ichiran

Am surprised all the posts above were so serious. :)

Huh??

[Commonproject]

Prices are falling w/ brand new 5712's being sold for a hair above $80K, so you can probably get at least $70K in today's market for a used one. They may continue to fall, the drop in stainless steel Rolex's has been pretty sharp

[enjoythemusic]

Resale value argument aside, sold a few Pateks to buy our home outright so understand the influence there. Like you, have a deep collection so it boiled down to what imho was the best decision. Given today's inflated Patek pricing and your home renovation / desires, sure sell a few watches and get your home in order as you have plenty of other timepieces to enjoy.

Perhaps it boils down to perceived priorities, and imho your home should be far higher a priority than one or more timepieces on-hand. As you said, you have many others to enjoy too. And yes, in hindsight to today it feels far better knowing our home is truly ours versus having a few 'extra' timepieces. JMHO

[JR16]

It sounds like you don’t desperately need the money , and if you have a great mortgage rate , no need to pay that off immediately . If you still enjoying the 5712 and 15300, then I would keep them. If not and they are just hanging out in the safe, then strike a much better deal before you sell.


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[Pateks]

Lots of ways to answer this question and there is no right way to answer. You seem to be doing well financially and my thought is you will regret selling the watch. 80k is a lot of money but it doesnt seem like a lot of money for your situation. Id keep the watch and keep plugging away at the mortgage but even that- if you have a low rate why bother?

Ive gone through phases where I want to simplify life and sell cars watches etc and have a a paid off house and then I think, would my life change? would I stop working? the answer is no so instead of being in a race to pay everything off (actually only debt is mortgage) I choose to have balance. I accelerate my mortgage payments but I also choose to enjoy the finer things- cars, watches vacations.

I say keep the Nautilus cause if anything I sure as hell regret selling my 5980 a few years back.

[CamSLC]

We could all debate which watches to sell for a year because of the difference in opinions.

From strict financial perspective, it sounds like paying off/down the home debt is a priority for you. So if there is a watch you're disconnected from and no longer enjoy I would let it go and put that idle cash into your financial goals. You're probably +$/% on your collection and selling is locking in a positive returns. I hate all the sale trend analyzing that's taken over the watch forums, but it's relevant.

With your income trouncing your remaining mortgage balance I personally would just sock all the discretionary money towards principal and have it taken out quickly.

[GB-man]

Honestly sounds like your income is strong and stable I would not sweat 80k. If you do sell I think you should get more on the 5712. Like 70K MIN.

[Fat_ninja]

1) the numbers are off by about 15-20k depending on condition for the 5712
2) it’s just a watch... do what makes u sleep well at night.

[tiberiustime]

main thing that stands out is how far off the 5712 number is. would assume can get up to 20k more. That aside, when i read your post it doesn't sound like you want, or need, to sell.

[SL BRABUS]

Originally Posted by nyc2la

Without getting into what you should do, 55k for a 5712 is a terrible offer in today’s Nauti climate.

Originally Posted by gmt3

That’s actually my first thought too. You can at least get close to the 100k on all 3 of those watches, not like i’m an expert on pricing...


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Originally Posted by Rwatcher

Nice context to what I am sure is a relevant question for many here,

Gut feeling would be to keep hold of the 5712 as sourcing another maybe near impossible in the current climate. However your points on the collection being one or two above comfort is valid and does cross my mind also.

I would possibly just change out the 3 you are looking to sell. Keep the 5712 and move the speedmaster along with the 15300 & reverso. You still then reduce your capital in the collection and have some funds 28-30k USD realised to do as you wish even if that is just to become more liquid.

Or... pending wrist time, the 5164 is fetching a very healthy premium currently and could be liquidated to raise the number.

Best wishes with you choice and look forward to more feedback from the Patek WIS.

Originally Posted by Rsubnodate

Keep them and be patient. You will have that money in 3 months. Then you can revisit the idea.

Originally Posted by manilenyo

I'd keep all if finances are in place. Except for the Reverso, the Speedmaster, and maybe the RO Dual Time, most of your watches would be hard to re-acquire once they're gone.

Originally Posted by Fat_ninja

1) the numbers are off by about 15-20k depending on condition for the 5712
2) it’s just a watch... do what makes u sleep well at night.

All great advice as mention above.....^^^....

Hey brother Carlos,

Great to have you back my friend.......

If I'm in your shoes.....

Honesty I would keep 5712, 5164, AP 15300, GMT 16710, and Rolex Kermit... Sell the rest.....

But if permit, I would keep them all....

Regarding if you selling the 5712 @$55K is a lowballer unless he/she is your good friend.....

[Bearxj86]

You can get at least $75k for the 5712 and about $18-$20k for the 15300. So NO WAY!!!!

[Calatrava r]

I echo Neil's comment to keep the 5164 and 5712 and sell all the rest of the stuff.

[Token74]

Terrible deal. Don’t do it.

[aa909]

Originally Posted by watchtabs

Before you read further:

1. I am not looking for buyers in the forums, my PM is full, so don’t waste your time! I already have a buyer, and I would not sell to anyone but this buyer.

2. I am posting this because I’d like to get some confirmation of 1. Am I right to feel like selling is simply me being impulsive, or 2. I’m correct in thinking of selling.

3. I’m posting this in the PP forum because ya’ll are my PP brethren, and I’m particularly interested in hearing from PP owners.

Alright so here we go, here’s some backstory for context.

I have grown my collection in the past few years, have gone beyond the entry level of Omega, Rolex, into AP and PP.

Now I feel as if having so many watches (about 8) are too many for me. I am not enjoying each, simply put they feel like ‘worries’ more than ‘pleasures’. This is probably the only valid reason for considering selling. I have always said, if you don’t have peace of mind, that probably means you can’t afford it. My income from multiple sources is in the half mill mark.

Currently, I have been doing a ton of home renovations, and in the past year, I have probably spent over 200k, and while I have savings, I have yet to pay off my mortgage.

So here’s the offer I was given by a reputable dealer:

Sell my 5712, 15300 (white) and Reverso duo face for about 80k (5712 at 55k). I’d use that money and dump it straight to the house, and pay about a 3rd of my mortgage off in one go (last 20% of mortgage pending!)

So here’s how I’m feeling as I write this.

1. It feels as if I am considering selling because it’d be instant gratification; I could be patient and wait.

2. Honestly, I can make that 80k in 3 months without a sweat.

3. I feel a bit guilty that about 15% of my yearly income is tied into those 3 items.

4. If I were to ‘offload’ these 3, I’d still have a great collection, 5164, GMT 16710, Rolex Kermit, AP RO Dual time and Omega Speedmaster.

5. Through the process of writing this, putting it down on paper, I am rationalizing just keeping the watches. That the offer is not that great either. But I am still posting because I think we might benefit from this sort of collective thinking, and hell; I really appreciate your opinion.

With that said, my mind is at 80% keep, 20% sell. I’d love to know your reasoning, which way you’d go given the circumstances I’ve laid out.

what % of your net worth is tied up in these watches? (not including your primary residence)? if it's around 5% then keep em, but if it's >10% I would trim down the collection.

Just my 2 cents

[yoast]

Are you gonna flip the house or will this be a house for the next generation?
If you will flip it, and the money you put in will be earned back, do it.
But you need to get at least 70k for the 5712

[song2010]

My recommendation is not to sell if you don’t really need the money, sounds like you are fairly well off and may regret in hindsight.

[ts3]

Originally Posted by watchtabs

2. Honestly, I can make that 80k in 3 months without a sweat.

Based on the above I wouldn't sell even if you were to get a fair price as it doesn't make a big difference if you repay the mortgage 3 months earlier or later.

The underlying question is how much leverage people like to run and there are big cultural differences. Where I live people tend to save first and spend later, no matter if on property, luxury items, or expensive hobbies. In the US people buy property earlier in life, often w loads of debt, and keep investing and spending on fun stuff at the same time.

One reason why we remain poor is that we are a country of savers w a reluctance to high personal leverage...

[Seaborn]

Agree with much of what has been said.

Though I’m new to the game, I think of watch collecting as a journey. Journey doesn’t need to end just because you sold off some pieces. Some pieces are staples of your collection, others may come and go. But, the journey continues...

Like you were advised above, do what helps you sleep at night.

Cheers

[walds11]

OP, you mentioned this...”I have always said, if you don’t have peace of mind, that probably means you can’t afford it.”

Well, do you have a peace of mind?

As others had advised, do what helps you sleep at night. Sounds like you are loaded, so keep them? Will you be able to sleep at night with this decision?