Second Thoughts About Buying My First Rolex

[buffalo wind]

I’m new here and have received many helpful recommendations regarding the selection & purchase of my first Rolex. Upon further reflection, I’m beginning to wonder if the resources could be put to better use as the tribal elders have questioned my recent foray into fine watches.

As a working man, I was thinking of maybe an extended life insurance plan in the event that I am disabled at work or perhaps adding to our children’s college education fund. In some ways, I feel that I am being selfish in gravitating towards a Rolex or any other expensive wristwatch.

While a nice Seiko will never be a Rolex, it seems that most people don’t notice or care what kind of wrist watch someone else is wearing as one’s character and integrity should always come first.

[dafuture]

As someone who's had the same thoughts, I can tell you this:

If it's meaningful to you, then it's worth it. I've gotten the same questions from people who don't understand why I spend thousands on a watch. The simple answer? It makes me happy. Yes, money can always be used to pay bills, but sometimes making yourself happy is important too.

I love my Seiko, but it's certainly no match for my Rolex.

[Houston77]

Your logic makes perfect sense. Don't make the jump unless you are certain. Personally, I don't care what others notice -- I notice, and I feel different wearing a luxury watch. Also, depreciation is a major factor in value consideration for me -- I like knowing I can get my money back for the watches if needed. But this is all purely personal. You may not feel the same when wearing a watch. It just may not be as important to you. Do what feels right.


Sent from my iPhone using Tapatalk

[Tangier11]

If you are not ready it will take away from the enjoyment. However, trying to justify a purchase like this will never happen. Some times you just have to go for it.

[pickettt]

Happy tribal elder, happy life.

[Dr.Brian]

Very reasonable to reconsider, especially if there are competing interests. Don’t fixate on Rolex though. Omega makes a fine Swiss watch often at a significantly lower price point, and a better discount. Daytona vs SpeedyMoon. Different watches for sure, but both have undeniable history and real Watch Guy street cred. ~$18k vs 4? No brainer there for me. A nice gold Omega Seamaster from 1952 has been on my father’s wrist for around 66 years now. He could wear anything he wants.
As noted above, there will always be competing interests for your money, even if you’re making $1M a year. If you want it, and can afford it, go for it.

[jrs146]

Originally Posted by buffalo wind

I’m beginning to wonder if the resources could be put to better use as the tribal elders have questioned my recent foray into fine watches.

First, welcome to the club!

I think we have all at one point or another to some degree have had buyers remorse. Whether it was about a watch, a car, a home, or even just that starbucks late. It's a pretty natural thing.

Here is kind of where I have come to the resolution when it's specifically related to my watch hobby (addiction).

First rule of thumb - DON"T LISTEN TO ANYONE ELSE (except your spouse and listen to him/her very very carefully )

But in all seriousness, of course people are going to think you're bat poo crazy for spending thousands on a watch. Because people judge others by their own priorities and most folks just don't care about watches. Therefore it's best not to take advice from others when they have different priorities than you do.

Now that leads me to my real point here which is all about priorities. It's very easy to list out a million things that $10,000 could be used for. There is always something else you could purchase or squirrel away for a rainy day. The best way to avoid buyers remorse is to make sure that your luxury goods purchases are at the bottom of your "needs" list. They can be at the top of the "wish" list, but that should mean all of your "needs" are taken care of already. And if that's the case - what's there to regret!

Just my 2 cents and please take into consideration I'm not a very smart guy

[riverrat]

Do what your gut says, thats all that matters. I only recently at age 53 hit the "comfort" mark that allowed me to buy my first. Your post hits a sensitive spot for me. I own an insurance agency and it always tears me up when people "cant afford" life insurance or a savings plan to prepare for their retirement or if the unthinkable happens. I cant tell you how many widows have come through our doors not knowing what that are going do now that their husband suddenly is lost. Ive seen them lose houses, cars kids education... you name it. Im going to make a lot of people upset at me but that is the most insensitive selfish thing a person can do, leave their "loved ones" to fend for themselves. Maybe it isn't a priority for you, if not, no worries. If it does bother you, take care of the fundamentals first and sleep well at night. Then when the time is right, do it!

[jbreeden]

You can always come up with something more logical that you could spend money on. The questions are best answered in relationship to where you currently are with those items you are considering.

For example the college fund..do you have one already? If you have not started one for your child(ren) then it may be a better use of your money, but if you already have one and have been contributing and will continue to do so, that is a different story.

When you look down at your watch you should appreciate what you have been able to do for yourself, if you have already provided for the ones you care about there should be no guilt in what you spent. If you provided for yourself only and not others then you would be on the selfish side.

[Houston77]

Originally Posted by riverrat

If it does bother you, take care of the fundamentals first and sleep well at night. Then when the time is right, do it!

Brilliant advice here. A Rolex is what you buy when you have everything else covered. I'd say it's actually a testament to that.

[Flier]

Originally Posted by dafuture

As someone who's had the same thoughts, I can tell you this:

If it's meaningful to you, then it's worth it. I've gotten the same questions from people who don't understand why I spend thousands on a watch. The simple answer? It makes me happy. Yes, money can always be used to pay bills, but sometimes making yourself happy is important too.

I love my Seiko, but it's certainly no match for my Rolex.

My sister is a really down to earth girl
She really could not understand how I could spend that amount of cash on a watch
Then I decided to let her wear it:
I never thought a watch would impress me so much she said
If you want it with your heart the rest will not be your priority
You have to come to terms with yourself before you buy it

[Bigblu10]

Originally Posted by buffalo wind

I’m new here and have received many helpful recommendations regarding the selection & purchase of my first Rolex. Upon further reflection, I’m beginning to wonder if the resources could be put to better use as the tribal elders have questioned my recent foray into fine watches.

As a working man, I was thinking of maybe an extended life insurance plan in the event that I am disabled at work or perhaps adding to our children’s college education fund. In some ways, I feel that I am being selfish in gravitating towards a Rolex or any other expensive wristwatch.

While a nice Seiko will never be a Rolex, it seems that most people don’t notice or care what kind of wrist watch someone else is wearing as one’s character and integrity should always come first.

What are "tribal elders"? Parents? This is your money, your decision. You only live once!

[SeaDweller50]

Buy wisely and look after your purchase and you’ll likely not lose any money. Convert cash into happiness. It’s easy to convert back if the need arises.

[rollee1]

If you don't love it, save the cash.

[Phrank]

One of the main driving factors I finally pulled the trigger on my Rolex, even though I could have multiple times in the past - was realizing that I had really nothing other than an old dinner jacket to remind me of my late Father.

I want something to leave my son one day - something substantial that he know I wore and admired.

My wife has many jewels and jewelry to leave my daughter, but my son had nothing like that - so that's what finally caused me to pull the trigger - it will be his one day, and when he wears it, in some ways it will remind him that I will always be by his side and have his back.

Just my two cents, thought I'd share....

[tlbarrs]

If your having any second thoughts I wouldn’t go though with it I’d maybe wait until your 100%

[Fleetlord]

Originally Posted by buffalo wind

I’m new here and have received many helpful recommendations regarding the selection & purchase of my first Rolex. Upon further reflection, I’m beginning to wonder if the resources could be put to better use as the tribal elders have questioned my recent foray into fine watches.

As a working man, I was thinking of maybe an extended life insurance plan in the event that I am disabled at work or perhaps adding to our children’s college education fund. In some ways, I feel that I am being selfish in gravitating towards a Rolex or any other expensive wristwatch.

While a nice Seiko will never be a Rolex, it seems that most people don’t notice or care what kind of wrist watch someone else is wearing as one’s character and integrity should always come first.

If you're asking and have this much concern, then it's not for you at this point.

Maybe down the line, but not now.

[joli160]

Originally Posted by fleetlord

if you're asking and have this much concern, then it's not for you at this point.

Maybe down the line, but not now.

x2

[Portzed]

Originally Posted by Fleetlord

If you're asking and have this much concern, then it's not for you at this point.

Maybe down the line, but not now.

x3

[AK797]

I think there might be some middle ground between pleasing yourself and being a responsible father but not becoming a resentful martyr. Instead of a new Rolex that costs $6K plus why not look at used Rolexes at half the price.

[GradyPhilpott]

Follow your heart.

[VicLeChic]

If you have seconds thoughts, doubts and the idea of buying a Rolex doesn't make you super happy, exctatic, excited, stop right there.

Do not buy it, attend your more pressing needs or priorities and reconsider at a later stage. Plenty of time to buy a Rolex. It's a big purchase and you have to feel right about it, be 100%.sure.

Give it time.

[Flyinghunter]

Originally Posted by Houston77

A Rolex is what you buy when you have everything else covered. I'd say it's actually a testament to that.

Wow, you nailed it!

[SROB]

A lot of smart posts above...

If there are other things that need to be taken car of, do that first.... I am 100% in the school of doing things that make yourself happy, but never at the expense of other responsibilities... plus, if second guessing, you may have a hard time enjoying it if you made the purchase.

I wish you the best, and peace of mind....

[Horehound]

Rolex holds their value better than any other brand hands down...omega and Breitling keep about 20-30% retail value.

Rolex like 40-65% of retail and if you hold it long enough sometimes more depending on model etc.

I would say you could consider your Rolex a great investment. You get to wear an excellent watch and can always sell it down the line if need be...


Sent from my iPhone using Tapatalk

[EDL7]

Lots of good advice here..
And remember..it's just a watch..although a hell of a nice one..
But you could live very happily for the rest of your life..w/o ever purchasing one..

[basicksickness]

Originally Posted by Tangier11

If you are not ready it will take away from the enjoyment. However, trying to justify a purchase like this will never happen. Some times you just have to go for it.

so true

[amh]

Originally Posted by pickettt

Happy tribal elder, happy life.

LOL

My "tribal elder" thinks I'm nuts. Then again, I think she's nuts for spending on stuff like this:
- Piano lessons for the kids, $3k/year (kids hate it, too)
- Endless trips to the nail salon
- Annual Disney trips

Originally Posted by Fleetlord

If you're asking and have this much concern, then it's not for you at this point.

Maybe down the line, but not now.

Or maybe now is the perfect time.

Originally Posted by Ra_88

Buy wisely and look after your purchase and you’ll likely not lose any money. Convert cash into happiness. It’s easy to convert back if the need arises.

Exactly.

Originally Posted by Tangier11

If you are not ready it will take away from the enjoyment. However, trying to justify a purchase like this will never happen. Some times you just have to go for it.

True!

If you don't want to spend $10k, spend 5 on something used. You'll lose nothing even if you turn around and sell it off a week later.

Between my wife and myself we've been through enough quartz watches to fill a shoe box and they are worth exactly $0.

[strafer_kid]

Originally Posted by Fleetlord

If you're asking and have this much concern, then it's not for you at this point.

Maybe down the line, but not now.

Fair point!

[WJGESQ]

Seems like you could hedge on this, buy a desirable model used and if you change your mind unload it without much of a loss.