When you really shouldn't buy a rolex

[chu88y]

I would never put buying a Rolex in front of my family or home,yet I speak to guys who tell me they haven't been on holiday with the family as they were buying a Rolex they allways wanted etc etc. Or they tell me there a few months behind on the mortgage payments with a SS Daytona on there wrist.I guess in some ways people like to play "the fat man" with a nice car/watch etc so they look like there doing well,when in reality there struggling.

[Colnago]

My upper management would never allow that....everything else (well almost everything else) financial has to be sorted out prior to me even mentioning another watch...it has to be "spare dosh".....

[jason981]

To get a new watch purchase past my wife requires a 3 pronged approach :

1. No debt (credit card or otherwise)
2. Spare Cash

and most important ...
3. Sweet Talking (in the form of romantic dinner, wine etc ..)

Having flowers sent doesnt work because in her own words :-

Sending flowers = done something wrong or wants something

Its funny what we have to go through to make a purchase :)

[allanofcalifornia]

The bottom line is that if you can not afford to buy a Rolex, then you should not buy one.


Allan

[Mosco]

Luckily - I don't have the 'breaking it to my wife' dilemma - she encourages my toys... Besides, at the moment her watch collection is nicer than mine - including a Panerai PAM 283, a full-size YM, Ulysse Nardin Lady Diver with diamonds, a Blancpain... list goes on.

But I agree with Jason - watch is a luxury item and should not be purchased if you have to borrow the funds. Food & Shelter come first!

[madgpol]

Originally Posted by chu88y

I would never put buying a Rolex in front of my family or home,yet I speak to guys who tell me they haven't been on holiday with the family as they were buying a Rolex they allways wanted etc etc. Or they tell me there a few months behind on the mortgage payments with a SS Daytona on there wrist.I guess in some ways people like to play "the fat man" with a nice car/watch etc so they look like there doing well,when in reality there struggling.

Sad but true. Once the essentials are in place luxuries will follow. It also amazes me how few people understand finance.

[rolexgiants]

when you have over 10 and u just keep buying them for the hell of it.......

[Mosco]

Originally Posted by rolexgiants

when you have over 10 and u just keep buying them for the hell of it.......

LOL! I helped one of my clients source an 80-piece Orbita winder (really, it is like a piece of furniture). At least 75 of the winder spots are taken up... In addition, he has about 15-20 manual wind watches. He is a collector in every sense of the word - he does not buy just for the hell of it, and every watch is special in some way. But - he has ZERO debt. Go figure....

[rolexgiants]

Originally Posted by Mosco

LOL! I helped one of my clients source an 80-piece Orbita winder (really, it is like a piece of furniture). At least 75 of the winder spots are taken up... In addition, he has about 15-20 manual wind watches. He is a collector in every sense of the word - he does not buy just for the hell of it, and every watch is special in some way. But - he has ZERO debt. Go figure....

i believe that ONE rolex could last anyone a lifetime.....

[Mosco]

Originally Posted by rolexgiants

i believe that ONE rolex could last anyone a lifetime.....

I agree... But then again, I am not an avid collector.

[beshannon]

Just one of the reasons why our world economy is in the mess it is in.

[Mosco]

Originally Posted by beshannon

Just one of the reasons why our world economy is in the mess it is in.

What is?

[beshannon]

Originally Posted by Mosco

What is?

People that purchase things that are beyond their means, the availability of easy credit with little downside to defaulting . . .

[Chozn1]

I almost died on here the other day when a guy said he wanted a Rolex but couldn't afford one, and someone actually told him to finance it. I didn't get my Prez til my house was paid off, so that should tell you where I'm at on this.

[rolexR]

um.....im lucky to get my dad to pay for it so im good lol

[rolexgiants]

i think my opinion is in the minority here... but i feel if ur buying a rolex today and the thought that crosses ur mind is that if u need money in the next 6 months u could always sell it fast....... that to me means u shouldnt be buying luxury items....

[Chozn1]

.

[Nods]

I agree with all the above sentiment, I have wanted a Rolex for 20 years and could not justify it at all. However the year that I turned 40 I had a nice promotion at work, my house paid off and no other consumer debt. (owe money on investments) So I purchased a new GMT, and I got a discount for cash. I think that is the time to buy a Rolex.

[PhilM]

I buy when I have can afford to have the cash tied up, however in the eventuality that I really needed money for the house, family or anything else come to think of it then I wouldn't hesitate about selling any of my watches.

[Tools]

I like shiny things............

And stuff that goes vroooom, vroooom............


I don't mind eating beans from a can for a while.............

[Jimbits76]

I put off a holiday with my family to buy a Rolex.

Why should anybody other than my wife have a problem with that?

It's funny, I still find it hard to believe that some folk consider Rolex owners to be snobs.

J

[gmh1013]

I dont work anymore and live on a fixed income (savings) my wife gets S.S. and a small Pension for Wells Fargo and thats it. Unless CD rate go back to 6.5% or higher I dont see buying any more watches other than a Casio anytime soon. Im happy with my GMT and Omega's plus I dont even wear them around the house....if only I could win the lotto!

[Yume-sama]

Contemplating buying 3 more just so you can fill up your Orbita is wrong, too.

[pdmlynek]

Originally Posted by jason981

To get a new watch purchase past my wife requires a 3 pronged approach :

1. No debt (credit card or otherwise)
2. Spare Cash

and most important ...
3. Sweet Talking (in the form of romantic dinner, wine etc ..)

Having flowers sent doesnt work because in her own words :-

Sending flowers = done something wrong or wants something

Its funny what we have to go through to make a purchase :)

I just got a green light from my wife to buy my first Rolex for myself (no, I am not a Rolex owner, though I bought a DJ for her last year).

My approach was a little different. Several years ago she agreed that I can get a sports car to play with once I made a certain level of income, a level which I was lucky enough to achieve last year. A couple of days ago I brought her earlier promise to her attention, and said that it is about time for me to go sports car shopping. After some discussion with her, it became apparent to me that buying a sports car is simply not practical for our family and a waste of money. So a TT sub will be my consolation prize.

[Rolex116520]

Originally Posted by Tools

I like shiny things............

And stuff that goes vroooom, vroooom............


I don't mind eating beans from a can for a while.............

Yep, boys will be boys

[Frost]

I agree. I have an average job and earn average money. I bought mine after squirreling away spare cash over several years. When I got it I genuinely felt that I had earned it and appreciated more for it.
Would I like another Rollie? Of course I would but when the spare cash kitty is brimming full again.

[chu88y]

I've got the watches I want,and would probably only buy 1 or two more at the expense of selling ones to make room,more than a dozen watches (not all Rolex) is plenty for me,I've a few Seiko dive watches that are just fantastic.

[cowincanada]

i agree that buying a luxury watch (or any luxury item) should only come after providing all other basic necessities.

but consider this...

say you want to purchase a rolex, but don't have the spare cash for it right now. i suppose the logical thing to do is to wait until you've saved enough, right? but what if you've kept on putting it off because something always comes up, and 5 years down the line, because of repeated price increases you can't buy one anyway? these things are not gonna get cheaper...

[mingsta]

I like my shiney things, but fortunately I'm not in to the dangerously expensive stuff (cars, boats and collecting watches). My personal rule is that the little luxuries are payed for by money in the bank, nothing goes on credit.

I know that everyone's different, but the idea of buying something like a rolex on credit has never sat well with me. To me a watch is a reward for a job well done or for hitting something important in your life and the idea of having it on a loan would cheapen it for me.

[mingsta]

BTW, those of you who have wives who judiciously manage the finances (including your spending) should consider yourselves lucky. Its the wives with a shoe and handbag addiction that you have to watch out for!!!

...though managing YOUR spending and shoe/bag fetish aren#t necessarily mutually exclusive!