Interesting. Is every Rolex hand-made? Or are they created on a production line by machines?thekro wrote:Watch making is an art
Serious question.
Interesting. Is every Rolex hand-made? Or are they created on a production line by machines?thekro wrote:Watch making is an art
Not all hand-maderrosenkoetter wrote:Interesting. Is every Rolex hand-made? Or are they created on a production line by machines?thekro wrote:Watch making is an art
Serious question.
rrosenkoetter wrote:Interesting. Is every Rolex hand-made? Or are they created on a production line by machines?thekro wrote:Watch making is an art
Serious question.
USA may be identified with consumer culture more, but it is much more pervasive in Asia. The most profitable high end fashion stores in the world are located in Hawaii, approximately 70% of their sales comes from Japanese tourists. There is an entire cultural subset in Japan of financially successful professionals who still live with their parents solely so they can buy high fashion clothes and accessories. I recently read a book about it, but for the life of me can not remember the name.The Dark Knight wrote:I found it interesting that though the USA is most identified with "consumer culture", I found much more signs of ostentatious wealth-flashing (watches, cars, clothes, etc) in my travels to Asian than I do here.
That is really interesting, I should google the topic and try to get that book.There is an entire cultural subset in Japan of financially successful professionals who still live with their parents solely so they can buy high fashion clothes and accessories. I recently read a book about it, but for the life of me can not remember the name.
http://www.amazon.com/Deluxe-How-Luxury ... 1594201293. The book in entirety is about luxury fashion, but there are a few chapters dedicated to the Asian(mostly Japanese) fascination with high-end fashion.The Dark Knight wrote:That is really interesting, I should google the topic and try to get that book.There is an entire cultural subset in Japan of financially successful professionals who still live with their parents solely so they can buy high fashion clothes and accessories. I recently read a book about it, but for the life of me can not remember the name.
I do frequent a watch forum, and some of the posters were saying Japan is a really good place to get used high-end watches as the custom there is to get a nice watch every couple of years and sell your used one.
Can you give some data, reference or citation to back up this part of your quote: "The most profitable high end fashion stores in the world are located in Hawaii...".stoptothink wrote: The most profitable high end fashion stores in the world are located in Hawaii, approximately 70% of their sales comes from Japanese tourists. There is an entire cultural subset in Japan of financially successful professionals who still live with their parents solely so they can buy high fashion clothes and accessories. I recently read a book about it, but for the life of me can not remember the name.
Neil Armstrong and Buzz Aldrin wore their Omega Speedmaster's on Apollo 11Bernd wrote:To wear an expensive watch or not probably is related to who you are. In respect to movies, I think Clint Eastwood and John Wayne did not wear jewelry, but Dean Martin and Frank Sinatra did.
There are exponentially more total stores in LA or NY, so obviously total sales are higher, but the single most profitable stores are in Hawaii. As you mentioned, it is because of the absence of duty taxes for Japanese tourists. Japanese tourists account for the majority of the sales, has nothing whatsoever to do with U.S. tourists in Hawaii. There is also a very large market for travel agents to book shopping getaways to Hawaii for Japanese customers. There are several chapters in the book about the topic.rr2 wrote:Can you give some data, reference or citation to back up this part of your quote: "The most profitable high end fashion stores in the world are located in Hawaii...".stoptothink wrote: The most profitable high end fashion stores in the world are located in Hawaii, approximately 70% of their sales comes from Japanese tourists. There is an entire cultural subset in Japan of financially successful professionals who still live with their parents solely so they can buy high fashion clothes and accessories. I recently read a book about it, but for the life of me can not remember the name.
While Honolulu does have its share of ritzy stores, it seems to me that there are probably lot more high end fashion stores in LA (Beverly Hills), and/or New York or most other top cities of the world including Dubai, London, Paris etc. Honolulu's shopping is certainly tourism dominated and I can understand that a majority of sales are probably made to Japanese tourists who indeed constitute a significant portion of the tourists. Part of the reason is that it is much less expensive to shop for luxury goods in the US due to absence of import duties, luxury goods taxes etc. But why would a US tourist to Hawaii spend time shopping in Honolulu when they can get the same stuff at cheaper prices back in the US mainland in any big city.
Here are a couple of my personal examplesValuethinker wrote:I don't know if you have these in the US, but in the UK we have 'Rolex thieves'.
They spot your Rolex in a public place, and then follow you to wrip it off your wrist, or mug you.
Or worse, they tail you home and invade your home-- people with rich watches have other nice possessions to steal.
A number of highly publicised cases of both. Police actually advise people not to wear expensive jewelry that is visible in public-- especially not in crowded places or on public transport.
If you own a $5k watch you cannot leave it in your locker at the gym (or even your desk drawer) whilst you exercise.
$100 is probably the safe limit on owning a watch.
Expensive possessions are generally just bait for criminals. And you never know, a cleaner, or a sister's boyfriend, can see the possession in your home, and arrange to steal it. You really never know whether you can trust people.
My GF had a Tag Hauer that she was given for her 10th year anniversary as a director for her employer and she had dozens of black pearls that she had brought back from Tahiti over the years(she is there on business many times a year). A few years ago she was robbed at knifepoint in her own home when 2 males broke in and went straight upstairs to her jewlery box while she was sleeping. They took nothing else. Nobody was ever arrested, but she is almost positive that it was a friend of a former roommate who she had recently noticed in her room checking out her jewelry box. Her homeowner's insurance had a small cap on personal items so she only got $1500 and the watch alone was worth more.Balance wrote:Here are a couple of my personal examplesValuethinker wrote:I don't know if you have these in the US, but in the UK we have 'Rolex thieves'.
They spot your Rolex in a public place, and then follow you to wrip it off your wrist, or mug you.
Or worse, they tail you home and invade your home-- people with rich watches have other nice possessions to steal.
A number of highly publicised cases of both. Police actually advise people not to wear expensive jewelry that is visible in public-- especially not in crowded places or on public transport.
If you own a $5k watch you cannot leave it in your locker at the gym (or even your desk drawer) whilst you exercise.
$100 is probably the safe limit on owning a watch.
Expensive possessions are generally just bait for criminals. And you never know, a cleaner, or a sister's boyfriend, can see the possession in your home, and arrange to steal it. You really never know whether you can trust people.
My good friends, a married couple, were robbed a block away from my house at gunpoint and the thief asked them to remove their jewelry and watches (one watch was a Tag Hauer). They put a gun to my friend's head because it was taking them too long to take off the watch. My friend's wife is still traumatized from the incident which happened about 10 years ago. She won't wear jewelry anymore. This was in SF, California.
My neighbor just got robbed 2 months ago. The thieves took a jewelry box with her wedding ring, miscellaneous jewelry and some watches. I don't know if jewelry is insurable but hers wasn't. The cops came and she filed a claim but doesn't think she will get anything back.
I grew up in the Philippines and they will cut your arm off for an expensive watch in some of the touristy parts.
So even if these pieces of shiny jewelry do appreciate you really have to be careful where you take them or even when you leave them home. To each their own. I was given a Swiss Army watch when I was younger and it was under $300. It is collecting dust in one of my drawers. Whenever I need the time I can always rely on my iPhone. Plus, I never get a tan line around my wrist anymore!
You don't need an expensive watch to have an adventure. When I was traveling in Peru in 1999, several people have warned me that thieves specialized on snatching watches. I assumed that nobody would be interested in my $20 Casio and did not heed the warning. Lo and behold, I was robbed of my watch in Lima under most peculiar circumstances; too peculiar to describe here.Balance wrote:Here are a couple of my personal examples.Valuethinker wrote:I don't know if you have these in the US, but in the UK we have 'Rolex thieves'.
They spot your Rolex in a public place, and then follow you to wrip it off your wrist, or mug you.
My good friends, a married couple, were robbed a block away from my house at gunpoint and the thief asked them to remove their jewelry and watches (one watch was a Tag Hauer). They put a gun to my friend's head because it was taking them too long to take off the watch.
Probably because knowing the time was important.XtremeSki2001 wrote:Neil Armstrong and Buzz Aldrin wore their Omega Speedmaster's on Apollo 11Bernd wrote:To wear an expensive watch or not probably is related to who you are. In respect to movies, I think Clint Eastwood and John Wayne did not wear jewelry, but Dean Martin and Frank Sinatra did.
Nothing wrong with having a watch for backup when you're diving, but your $500 Dive Computer is what really matters...thekro wrote:...My reasons for buying the submariner were I wanted a watch that I trusted when I went scuba diving...
It is - my wife and I add her engagement/wedding rings to our home owners insurance policy.Balance wrote:I don't know if jewelry is insurable but hers wasn't.
When I bought my Rolex in the late 1970 's I do not recall anyone using dive computers . Things change over time but the brand new 2012 Rolex submariner no date model looks exactly like mine. Besides Suba I used it while swimming. Because of my profession I was around water almost every day and needed a good waterproof watch.The Wizard wrote:Nothing wrong with having a watch for backup when you're diving, but your $500 Dive Computer is what really matters...thekro wrote:...My reasons for buying the submariner were I wanted a watch that I trusted when I went scuba diving...
Serious question, has watch technology progressed that much in the last 35yrs or were there no good waterproof watches in the late 1970's that were more cost effective than a Rolex? Way before my time so I honestly have no clue. Today you can get a Casio or Timex that is water-resistant up to ~200ft for $15. For $30 you can get one resistant to 400+. I have had this http://www.amazon.com/Timex-Unisex-T5G8 ... 033&sr=1-9 watch for somewhere around 10yrs(got it for free) and never an issue besides a few new batteries. As a triathlete, I have had that watch submerged under water for 3-10+miles(2-6hrs+) per week every week for a decade.thekro wrote:When I bought my Rolex in the late 1970 's I do not recall anyone using dive computers . Things change over time but the brand new 2012 Rolex submariner no date model looks exactly like mine. Besides Suba I used it while swimming. Because of my profession I was around water almost every day and needed a good waterproof watch.The Wizard wrote:Nothing wrong with having a watch for backup when you're diving, but your $500 Dive Computer is what really matters...thekro wrote:...My reasons for buying the submariner were I wanted a watch that I trusted when I went scuba diving...
1983 was the first year the Casio G shock was releasedstoptothink wrote:Serious question, has watch technology progressed that much in the last 35yrs or were there no good waterproof watches in the late 1970's that were more cost effective than a Rolex? Way before my time so I honestly have no clue. Today you can get a Casio or Timex that is water-resistant up to ~200ft for $15. For $30 you can get one resistant to 400+. I have had this http://www.amazon.com/Timex-Unisex-T5G8 ... 033&sr=1-9 watch for somewhere around 10yrs(got it for free) and never an issue besides a few new batteries. As a triathlete, I have had that watch submerged under water for 3-10+miles(2-6hrs+) per week every week for a decade.thekro wrote:When I bought my Rolex in the late 1970 's I do not recall anyone using dive computers . Things change over time but the brand new 2012 Rolex submariner no date model looks exactly like mine. Besides Suba I used it while swimming. Because of my profession I was around water almost every day and needed a good waterproof watch.The Wizard wrote:Nothing wrong with having a watch for backup when you're diving, but your $500 Dive Computer is what really matters...thekro wrote:...My reasons for buying the submariner were I wanted a watch that I trusted when I went scuba diving...
If you want a Rolex, get a Rolex, no reason to try to rationalize it as a utilitarian purchase. If I had spent that much money on a watch there is no chance I would be scuba diving with it.
T A Y L O R !!! A average of 10%,(You sound like a advisor-salesman )..... your reaching my friend ! hehehe.... Just kidding! kinda.......Taylor Larimore wrote:Bogleheads:
I bought my first Casio watch over thirty years ago. I ordered this one (for its count-down) in preparation for Saturday's Miami-Key Largo sailboat race.
http://www.amazon.com/Casio-F201WA-1A-M ... f_se_shvl1
Note: Assuming I saved $5,000 thirty years ago by buying a Casio instead of a Rolex, and my savings earned an average of 10% for thirty years, I now have an extra $87,250 (before tax).
Best wishes.
Taylor
Why not... Taylor could have put it in a 30 year CD in 1982. CDs were paying 15% back thennorookie wrote:T A Y L O R !!! A average of 10%,(You sound like a advisor-salesman )..... your reaching my friend ! hehehe.... Just kidding! kinda.......
norookie:norookie wrote:T A Y L O R !!! A average of 10%,(You sound like a advisor-salesman )..... your reaching my friend ! hehehe.... Just kidding! kinda.......Taylor Larimore wrote:Bogleheads:
I bought my first Casio watch over thirty years ago. I ordered this one (for its count-down) in preparation for Saturday's Miami-Key Largo sailboat race.
http://www.amazon.com/Casio-F201WA-1A-M ... f_se_shvl1
Note: Assuming I saved $5,000 thirty years ago by buying a Casio instead of a Rolex, and my savings earned an average of 10% for thirty years, I now have an extra $87,250 (before tax).
Best wishes.
Taylor
From April 1982 to April 2012, $250 invested in the S&P 500 is now worth $6910.thekro wrote:How many here would consider this to be a good investment?
If you could buy a Rolex that would go up in value 1100 percent in 30 years and keep rising would you buy it?
I paid $250 and can easily sell it for $3000. I’m sure if you were willing to spend 5k you could find a watch that could go up in value if you had the knowledge to appraise watches.
Another question
If someone wanted advise on how to buy a $5000 original painting would everyone here say just go to Wall mart and buy a cheap poster or a box of crayons and just scribble on the wall. Some expensive things do have value. What about silverware or nice china? , would you recommend using plastic forks and just wash them and don’t bother with silverware because it costs to much and the saving could be put in the stock market.
My wife collects dolls and teddy bears. She's always telling me they're investments. I tell her they're not. If she wants to collect those things because she likes them, fine. But they're not investments. Maybe she will get lucky and some might be worth a lot in 30 years. Maybe not. Just because something is old doesn't mean it's valuable. It all depends on whether anyboddy else wants them. Same here.thekro wrote:How many here would consider this to be a good investment?
If you could buy a Rolex that would go up in value 1100 percent in 30 years and keep rising would you buy it?
I paid $250 and can easily sell it for $3000. I’m sure if you were willing to spend 5k you could find a watch that could go up in value if you had the knowledge to appraise watches.
Another question
If someone wanted advise on how to buy a $5000 original painting would everyone here say just go to Wall mart and buy a cheap poster or a box of crayons and just scribble on the wall. Some expensive things do have value. What about silverware or nice china? , would you recommend using plastic forks and just wash them and don’t bother with silverware because it costs to much and the saving could be put in the stock market.
Do you decorate your wall with a big blow up print of you Vanguard statement or wear it on your wrist when you go out and want to look good? Or do you just sit there eating with your plastic fork eating canned food on your folding lawn chair because the money you would have bought furniture with is also in the stock market.rrosenkoetter wrote:From April 1982 to April 2012, $250 invested in the S&P 500 is now worth $6910.thekro wrote:How many here would consider this to be a good investment?
If you could buy a Rolex that would go up in value 1100 percent in 30 years and keep rising would you buy it?
I paid $250 and can easily sell it for $3000. I’m sure if you were willing to spend 5k you could find a watch that could go up in value if you had the knowledge to appraise watches.
Another question
If someone wanted advise on how to buy a $5000 original painting would everyone here say just go to Wall mart and buy a cheap poster or a box of crayons and just scribble on the wall. Some expensive things do have value. What about silverware or nice china? , would you recommend using plastic forks and just wash them and don’t bother with silverware because it costs to much and the saving could be put in the stock market.
And you got that return with zero time spent learning how to appraise watches or art.
thekro wrote: Do you decorate your wall with a big blow up print of you Vanguard statement or wear it on your wrist when you go out and want to look good? Or do you just sit there eating with your plastic fork eating canned food on your folding lawn chair because the money you would have bought furniture with is also in the stock market.
The art collector, watch collector, doll collector etc. gets to enjoy these possesions along the way.
If you could buy a Rolex that would go up in value 1100 percent in 30 years and keep rising would you buy it? Simple Yes or NO.
It so happens that I have quite a bit invested in the S&P 500 but I still like having a few nice things. Hugo Boss red lablel slacks, North beach suede blazer etc. I also like gold which some think is not a good investment but I like it and that too has increased in value.
It's been beaten to death in this thread - some here feel it's "wasteful spending" when it's something they would never spend on - it's very judgmental IMHO. Everyone has stuff they value and spend money on, otherwise, no one would be saving. We're all saving for something.thekro wrote:Do you decorate your wall with a big blow up print of you Vanguard statement or wear it on your wrist when you go out and want to look good? Or do you just sit there eating with your plastic fork eating canned food on your folding lawn chair because the money you would have bought furniture with is also in the stock market.rrosenkoetter wrote:From April 1982 to April 2012, $250 invested in the S&P 500 is now worth $6910.thekro wrote:How many here would consider this to be a good investment?
If you could buy a Rolex that would go up in value 1100 percent in 30 years and keep rising would you buy it?
I paid $250 and can easily sell it for $3000. I’m sure if you were willing to spend 5k you could find a watch that could go up in value if you had the knowledge to appraise watches.
Another question
If someone wanted advise on how to buy a $5000 original painting would everyone here say just go to Wall mart and buy a cheap poster or a box of crayons and just scribble on the wall. Some expensive things do have value. What about silverware or nice china? , would you recommend using plastic forks and just wash them and don’t bother with silverware because it costs to much and the saving could be put in the stock market.
And you got that return with zero time spent learning how to appraise watches or art.
The art collector, watch collector, doll collector etc. gets to enjoy these possesions along the way.
If you could buy a Rolex that would go up in value 1100 percent in 30 years and keep rising would you buy it? Simple Yes or NO.
It so happens that I have quite a bit invested in the S&P 500 but I still like having a few nice things. Hugo Boss red lablel slacks, North beach suede blazer etc. I also like gold which some think is not a good investment but I like it and that too has increased in value.
I gots dead animal heads on my wall.thekro wrote:Do you decorate your wall with a big blow up print of you Vanguard statement
I already look purty in my dirty white tank top, and cut-off jean shorts. My friends like me more for the keg of Bud-Light I keep in my pickup truck, than for any fancy man-jewelry I might wear.or wear it on your wrist when you go out and want to look good?
Yeah, we are being pretty judgemental. $5000 just seems SO over the top to me... A normal accurate water-resistant watch costs like $50. This is 100 times as much...XtremeSki2001 wrote:I don't see why someone who would disagree with buying an expensive watch would enter this thread in the first - I guess it's to be judgmental, but I can only guess.
This thread is a part of the community history. Reading it is a rite of passage into the Bogleheaddom.XtremeSki2001 wrote:Quite frankly I'm surprised this thread isn't locked by now. I don't see why someone who would disagree with buying an expensive watch would enter this thread in the first - I guess it's to be judgmental, but I can only guess.
This.VictoriaF wrote:This thread is a part of the community history. Reading it is a rite of passage into the Bogleheaddom.XtremeSki2001 wrote:Quite frankly I'm surprised this thread isn't locked by now. I don't see why someone who would disagree with buying an expensive watch would enter this thread in the first - I guess it's to be judgmental, but I can only guess.
Victoria
You're slightly confusing the average cohort here. I believe that the group of people who go out and buy one $5000 painting only vs. people who go out and buy one $5000 watch only. I posit that the second group is a very large percentage of and the first is a much smaller percentage of people who have AT LEAST one blah blah blah. it just feels like completely different sort of "collections".thekro wrote:How many here would consider this to be a good investment?
If you could buy a Rolex that would go up in value 1100 percent in 30 years and keep rising would you buy it?
I paid $250 and can easily sell it for $3000. I’m sure if you were willing to spend 5k you could find a watch that could go up in value if you had the knowledge to appraise watches.
Another question
If someone wanted advise on how to buy a $5000 original painting would everyone here say just go to Wall mart and buy a cheap poster or a box of crayons and just scribble on the wall. Some expensive things do have value. What about silverware or nice china? , would you recommend using plastic forks and just wash them and don’t bother with silverware because it costs to much and the saving could be put in the stock market.
Hi Leod:leod wrote:bogleheads seems to be more welcoming on boats vs watch, maybe because Taylor owns one?
+1Taylor Larimore wrote:Hi Leod:leod wrote:bogleheads seems to be more welcoming on boats vs watch, maybe because Taylor owns one?
Sorry to disappoint. We sold our last boat several years ago.
One of the nice things about being a sailor is that we often get invited when a boat owner cannot afford a paid-crew.
Best wishes.
Taylor
You don't know how much this makes me smile.LH wrote:The thread is back yet again!
Yep. And if you didn't blow all that jack riding around in a dinghy like Captain Crunch, you'd have some real cash.Taylor Larimore wrote:norookie:norookie wrote:T A Y L O R !!! A average of 10%,(You sound like a advisor-salesman )..... your reaching my friend ! hehehe.... Just kidding! kinda.......Taylor Larimore wrote:Bogleheads:
I bought my first Casio watch over thirty years ago. I ordered this one (for its count-down) in preparation for Saturday's Miami-Key Largo sailboat race.
http://www.amazon.com/Casio-F201WA-1A-M ... f_se_shvl1
Note: Assuming I saved $5,000 thirty years ago by buying a Casio instead of a Rolex, and my savings earned an average of 10% for thirty years, I now have an extra $87,250 (before tax).
Best wishes.
Taylor
I'm not "reaching" as much as you might think. According to Professor Jeremy Siegal in Stocks For The Long Run, from 1926 to 1997, U.S. stocks averaged 10.6% (nominal). From 1982 to 1997 they averaged 16.7% (nominal).
Best wishes.
Taylor