How often do you buy watches that you might not keep long-term?

[brandrea]

Originally Posted by KatGirl

Well said, Kevin. I am in the process of divesting myself of about 80% of my very large collection, because of the same reason. I now own multiple Rolexes, my BB58, some other nice, but lesser Swiss brands, and a lot of nice Seikos. I can’t possibly wear them all, nor do I want to, anymore. So, I opened a watch store, on eBay. Time to empty that stack of watch boxes.

Kat


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Interesting decision Kat, I wish you all the best with the store.

I by no means had anywhere close to the number of watches that you and many here have, I was at 7 watches at one point and honestly that made my head hurt

I’m down to 3 nice watches and couldn’t be happier. I took my time and really paid at attention to what I was wearing, and what if anything the watches I own mean to me.

In the end I had three obvious keepers.

Hope you find your watch nirvana

[MitchSF]

I've purchased Speedmasters years ago in the three figure and low four figure range, that are now in the five figure range. Do I care? No. I don't plan to sell, and I doubt that my kids will sell them either.

I buy mostly Subs now. They probably won't be worth less in the future, maybe more. Do I care? No.

[ArtVandelay0]

Just want to say I really appreciate the discussion on this thread so far.

It seems most indicate they only buy watches they are certain they’ll love and have for the long term. I admire that kind of decisiveness. It is simply not how my brain works. I’m very cautious with my money (which doesn’t mesh well with watch buying!), so even for my dream watches I’d feel similar. I’m always thinking about exit strategy if I needed / wanted to.

A few others are more in the camp of understanding where I’m coming from - needing to experience a watch as an owner to really determine if it’s a keeper. That’s where the thoughts on “exit strategy” come in. Not because I already don’t want it, or want to flip it, but purely because knowing how my brain works, I like to think “what’s the worst that happens?” In this case, worst that happens is probably that I wholesale it for $1000 less than I paid (as the watch trades for about $1000 over retail, give or take). That is nothing to sneeze at, but it helps me enjoy the watch a bit more knowing if I don’t like it, I’m not losing all of what I paid, but in reality just a bit of it.

[ts3]

Never. I only buy a watch when I am pretty sure I'll like it for good.

[Akacoke]

Never. But your taste change thru our time so some pieces bond to get added or sold or gifted

[Goldilock]

I don't understand why watches cannot be considered as investment. Why is it considered to be a blasphemy now when market is going down? Unfortunately I havent ever made any money with watches but some of my friends made nice sums by selling the watches they bought before the whole hype started in 2020. The outcome is certainly uncertain but so it is with anything. Buying a Daytona today and keeping it unworn in a safe for 10 years might bring more return than 10year US Treasury. Maybe will bring less but noone knows. Over past couple of years many hyped watches proved to be excellent investments. Who knows what future will bring? How one dares to say that watches cannot investments?

[knighty88]

Originally Posted by Goldilock

How one dares to say that watches cannot investments?

I think the undertone to 'watches as investments' instantly invokes the image of a flipper, buying purely for profit. When some on the forum have been waiting for years to get their dream (grail) watches - the term investment comes with connotations that don't sit right with them.

There's also the thought that an investment just sits in a safe... and life's too short to outlay thousands of £/$ to not enjoy the watch

[ArtVandelay0]

An investment is something I buy with the expectation of a return based on an investment thesis. I don’t think of watches that way.

I do, however, have a limited amount of funds for both watches and other things. Therefore, I personally tend to only buy watches when I feel like I can likely get most of money back should I need to sell, or should tastes change, etc.

As an example, I would probably never buy an omega at retail price. In a similar vein but a different method, I would never pay market price for a GMT master. I’m just too cautious and protective of my money.

That is why, when the opportunity to buy at retail for a watch that sells above retail comes up, I think, well why not? I can enjoy it, perhaps fall in love with it, and if I don’t, odds are I’m only out $1000 or so.

[Krash]

I think we’re talking about two different things here. 1) Buying a watch you like a lot but have to sell because “life happens” is one thing. 2) Buying a watch you’re not sure about and selling it later is a completely different thing altogether. The former is understandable. The later is more difficult to rationalize.


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[EEpro]

I think they are just commodities like any jewelry.

[BraveBold]

Originally Posted by ArtVandelay0

An investment is something I buy with the expectation of a return based on an investment thesis. I don’t think of watches that way.

I do, however, have a limited amount of funds for both watches and other things. Therefore, I personally tend to only buy watches when I feel like I can likely get most of money back should I need to sell, or should tastes change, etc.
.

Entirely reasonable and nothing to do with seeking out watches AS investments - though it really depends on a long-term view.

Rolexes have historically provided a positive return. They increase in value at a rate faster than inflation, particularly the watches produced in (relatively) lower quantities. Why? Because production increases have been much, much slower than general economic expansion (growth in global wealth).

This means a modern SS Daytona may likely be well into six figures in the next 20-30 years. It will likely match or exceed fixed income investments and possibly exceed a diversified equity portfolio.

I don’t buy watches AS investments but since I hold onto what I buy (and only buy what I like) they are absolutely part of my portfolio of assets. They aren’t pure consumption goods for me (unlike an expensive dinner, or buying a non-collectible luxury vehicle).

For those that churn through watches, my guess is they are simply more in the “consumption” or “expense” category… especially because of transaction costs and because trading in and out results in bid/ask spreads (part of transaction costs)… and there is zero wrong with that!

[Rolexforthewin]

Easy answer, N E V E R !

[bluestreak]

Nvm

[IFlyPlanes]

I never plan on keeping a watch short term but there have been times where I fall in love in the store then realize a few months later it's just been sitting in a safe.

Or I'll buy a watch I like then get a call for something I like more that suits the same category.

[Medem]

Originally Posted by ArtVandelay0

Hi All,

…

There are so many watches out there that I'd like to own…

… simply cannot own every watch I'd like to.

… I have the opportunity to grab one at retail….

… with watches being fairly liquid, and the odds of losing money on them pretty slim…

… sort of a no brainer to pick up a watch you're offered at retail…

If not, then odds are I'd make my money back…

Any major flaws in that logic??

I would not go as far as saying that your reasoning is flawed, but my reasoning prior to purchasing a watch is very different to the above. It has become slightly more informed over the years, but the passion was never in the financials.

[ArtVandelay0]

Originally Posted by Medem

I would not go as far as saying that your reasoning is flawed, but my reasoning prior to purchasing a watch is very different to the above. It has become slightly more informed over the years, but the passion was never in the financials.

I dont really agree with the characterization of my passion being in the financials. Thats really not at all what I'm communicating.

The fact is I have a limited budget and I'm very cautious with my spending in all aspects of life, especially with luxury products. If I'm making a lifelong commitment to a watch, or if I'm buying a watch I'm instantly under water on, thats fewer watches I can experience in my lifetime.

On the other hand, buying a watch that sells at a premium, that I've wanted for a while, at retail, allows me more wiggle room to make mistakes in my collecting and decide if I want to keep it.

[piratfisk]

Originally Posted by KatGirl

Well said, Kevin. I am in the process of divesting myself of about 80% of my very large collection, because of the same reason. I now own multiple Rolexes, my BB58, some other nice, but lesser Swiss brands, and a lot of nice Seikos. I can’t possibly wear them all, nor do I want to, anymore. So, I opened a watch store, on eBay. Time to empty that stack of watch boxes.

Kat


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Link to your storefront?

[turfmanjon]

Originally Posted by 1William

I buy/sell/trade/flip watches all the time. I don't have to love a watch or even want to keep it long term to buy it. Funny thing is that some of my most long term watches were bought because I liked them and was planning on wearing them for a while and moving on. This hobby lends itself to overthinking, as I was one that always use to do that, until I stopped taking myself and my watches so seriously. Not that I want to throw money away but make a little/lose a little/break even is fine with me. I have owned some amazing and not so amazing watches and have a lot of fun playing with them. OP, buy the watch. See if it works and then move on one way or another. Nothing wrong with buying and then selling, if you choose. It is your watch and your money. Go for it.

My same approach as well. It’s a fun hobby, if within your budget, play around a bit to see what you like. We don’t get to test drive watches most of the time, so experimenting is the next best thing.


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[MichelleP]

I buy watches I like. Sometimes they stay and sometimes they go to make room for another watch. I find it odd when people say "never sell a watch". I don't buy with the intent to sell but I now have a one in-one out policy unless it's a "cheap" watch. Most watches I've sold or traded have lost money. I recently traded 3 for 1.

[ArtVandelay0]

Originally Posted by MichelleP

I buy watches I like. Sometimes they stay and sometimes they go to make room for another watch. I find it odd when people say "never sell a watch". I don't buy with the intent to sell but I now have a one in-one out policy unless it's a "cheap" watch. Most watches I've sold or traded have lost money. I recently traded 3 for 1.

What was your 3-1 trade?

I would expect to lose a few hundred to a thousand if I sold this. Even though the watch sells above retail. I like to be conservative. So the question is is $1000 worth it to try owning a watch I’ve wanted but unsure if I want long term. I think the answer will be yes. We’ll see.

[Bmats]

I only buy watches I intend to keep forever. But I’m sometimes wrong about what I want to keep forever. Since a lot of the pieces I buy aren’t hype ones, I often lose a lot too..

At least this problem generally applies only to watches.

[Yobber76]

Most of my life I bought throw away watches. Timex, Skagen, $100 watches.
If they broke I threw them away. About 8 years ago, I started buying "Luxury" watches.
After a while, if I wanted to experience a new watch, I traded one I already owned.
I don't have an emotional attachment to any of them, I just enjoy them and occassionally move on to the next. Or give them away to my kids.

[bluestreak]

Originally Posted by MichelleP

I buy watches I like. Sometimes they stay and sometimes they go to make room for another watch. I find it odd when people say "never sell a watch". I don't buy with the intent to sell but I now have a one in-one out policy unless it's a "cheap" watch. Most watches I've sold or traded have lost money. I recently traded 3 for 1.

I also find it weird. I think that people that feel this way probably are stuck with some watches they don’t like.
Because it is simply not possible to know if you’ll love a watch from a 5 minute try-on. Or an internet picture. The only way to know 100 percent for sure is to own it.
But I imagine it’s easy to convince yourself if you have already paid the cash.

[the dark knight]

This is the greatest paradox of my collecting life. I've been in this hobby over 25 years. I don't recall ever purchasing a watch - not a single one - that I didn't love and intend to keep indefinitely at the time of purchase. And yet in my current collection my oldest watch is 3 years old (not including gifts). Crazy.

[4reRlxGuy]

I've been collecting since the early 1990s. I never thought I would keep any piece forever. Early on I thought I would continue to upgrade moving forward.

Now that I've accumulated quite a few pieces I'm consolidating some lower priced models for higher priced non-Rolex pieces.

[Cassian739]

Originally Posted by Kevin of Larchmont

I only buy watches that I intend to keep and enjoy however from time to time I am wrong. New exciting watches often displace watches that were once favorites. I reach a point where if I can honestly say to myself that I have no reason to wear a watch again I will sell it but my intention when I buy is always to keep.

Originally Posted by Mystro

Most everybody goes in to buying a watch as if it was always for long term. What happens after that is called life.

^ These quotes sum it up for me as well. I don't buy to flip; sometimes it just doesn't work out, other times I've just moved on and see no reason to keep a watch I'm not wearing. If I buy a watch and shortly thereafter I realize it's not gonna work out, I just sell it - literally, who cares.

[nighthawk77]

OP, I have a similar chain of thought.

There are a number of watches I'd like to own, even just for a brief period to enjoy and experience, but I don't want a large watch collection so naturally some will be moved on.

[samson66]

And you want to be my latex salesman...

[Crob1]

It's always with the intention of owning it for a long time and maybe pass it on to my son unless life's uncertainty hits.

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[alphadweller]

Long-term view in my case. I'm in for the thrills, not a lukewarm feeling and the possibility of recouping an expense. I don't buy a 10-20k watch if I'm not very excited about it.