Best watch for around $5,000? [Archived]

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HomerJ
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Re: Best watch for around $5,000?

Post by HomerJ »

thekro wrote:Watch making is an art
Interesting. Is every Rolex hand-made? Or are they created on a production line by machines?

Serious question.
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XtremeSki2001
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Re: Best watch for around $5,000?

Post by XtremeSki2001 »

rrosenkoetter wrote:
thekro wrote:Watch making is an art
Interesting. Is every Rolex hand-made? Or are they created on a production line by machines?

Serious question.
Not all hand-made

http://www.youtube.com/watch?v=yJ5l_fG_Nd0
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The Dark Knight
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Re: Best watch for around $5,000?

Post by The Dark Knight »

Just a random observation I wanted to add to get thoughts.

For a couple of years I was in a job where I was in frequent contact with law firm partners, investment bankers, and venture capitalists. Individuals that were pulling in 7-figures a year. Because I personally have an interest in high-end watches, I would often look at these people's wrists to see what (if anything) they were wearing. I think I saw more Casio/ Timex type watches than I saw really high-end stuff (and I can usually identify a high end watch, as opposed to just a fancy looking Seiko or something). A lot of people just didn't wear watches at all.

Now, I also dealt with people in similar positions from East Asia (Japan, Korea, China) quite frequently as well, and I saw a LOT more expensive watches- Rolex, Cartier, Omega, Breitling, Patek, IWC, etc.

I had much more limited dealings with European folks, but the people I met from there did not seem as keen to wear fancy watches, but I also did not see anybody wearing a Timex with a suit as I saw quite frequently from Americans.

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.
thekro
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Re: Best watch for around $5,000?

Post by thekro »

rrosenkoetter wrote:
thekro wrote:Watch making is an art
Interesting. Is every Rolex hand-made? Or are they created on a production line by machines?

Serious question.

How Rolex is Made
http://www.youtube.com/watch?v=yJ5l_fG_Nd0
http://www.youtube.com/watch?v=qUq7kZP0 ... re=related
Last edited by thekro on Tue Apr 10, 2012 4:01 pm, edited 1 time in total.
stoptothink
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Re: Best watch for around $5,000?

Post by stoptothink »

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.
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.
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Re: Best watch for around $5,000?

Post by The Dark Knight »

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.
That is really interesting, I should google the topic and try to get that book.

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.
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Re: Best watch for around $5,000?

Post by stoptothink »

The Dark Knight wrote:
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.
That is really interesting, I should google the topic and try to get that book.

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.
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.
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Re: Best watch for around $5,000?

Post by rr2 »

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.
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...".

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.
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Re: Best watch for around $5,000?

Post by likegarden »

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.
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Re: Best watch for around $5,000?

Post by XtremeSki2001 »

Bernd 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.
Neil Armstrong and Buzz Aldrin wore their Omega Speedmaster's on Apollo 11
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stoptothink
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Re: Best watch for around $5,000?

Post by stoptothink »

rr2 wrote:
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.
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...".

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.
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.
Balance
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Re: Rolex snatch and grab

Post by Balance »

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.

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.
Here are a couple of my personal examples

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!
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Re: Rolex snatch and grab

Post by stoptothink »

Balance wrote:
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.

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.
Here are a couple of my personal examples

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!
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.
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Re: Rolex snatch and grab

Post by VictoriaF »

Balance wrote:
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.
Here are a couple of my personal examples.

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.
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.

But I pride myself that as a true Boglehead I managed to get parted with my watch at a fraction of the cost imparted on others. :greedy

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HomerJ
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Re: Best watch for around $5,000?

Post by HomerJ »

XtremeSki2001 wrote:
Bernd 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.
Neil Armstrong and Buzz Aldrin wore their Omega Speedmaster's on Apollo 11
Probably because knowing the time was important.

Originally watches were worn by important men so they knew what time it was.

Now, I pretty much always know what time it is even without a watch.

Watches are basically just jewelry now. Some men like to look pretty. That's fine.
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Re: Best watch for around $5,000?

Post by The Wizard »

thekro wrote:...My reasons for buying the submariner were I wanted a watch that I trusted when I went scuba diving...
Nothing wrong with having a watch for backup when you're diving, but your $500 Dive Computer is what really matters...
Attempted new signature...
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Re: Rolex snatch and grab

Post by XtremeSki2001 »

Balance wrote:I don't know if jewelry is insurable but hers wasn't.
It is - my wife and I add her engagement/wedding rings to our home owners insurance policy.
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Re: Best watch for around $5,000?

Post by thekro »

The Wizard wrote:
thekro wrote:...My reasons for buying the submariner were I wanted a watch that I trusted when I went scuba diving...
Nothing wrong with having a watch for backup when you're diving, but your $500 Dive Computer is what really matters...
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.
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Re: Best watch for around $5,000?

Post by stoptothink »

thekro wrote:
The Wizard wrote:
thekro wrote:...My reasons for buying the submariner were I wanted a watch that I trusted when I went scuba diving...
Nothing wrong with having a watch for backup when you're diving, but your $500 Dive Computer is what really matters...
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.
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.

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.
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Re: Best watch for around $5,000?

Post by thekro »

stoptothink wrote:
thekro wrote:
The Wizard wrote:
thekro wrote:...My reasons for buying the submariner were I wanted a watch that I trusted when I went scuba diving...
Nothing wrong with having a watch for backup when you're diving, but your $500 Dive Computer is what really matters...
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.
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.

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.
1983 was the first year the Casio G shock was released
When the Casio G shock watch came out I started to use that instead of the Rolex and have been using cheap Casio watches for swimming. I got plenty of use from my Rolex Submariner and it is still in perfect condition. I never intended to buy a Rolex but it was a deal I could not pass up. I only paid $250 at the time and Rolex serviced it for free.
The original point was that expensive watches have qualities in craftsmanship design and art that make them cost what they cost. In the late 70s the Rolex Submariner was a good waterproof watch for suba and swimming.
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Re: Best watch for around $5,000?

Post by HardKnocker »

Quartz watches are just about all very accurate.

Once the quartz watch came on the market it nullified the promotion of accuracy as a selling point.

Now it's bling.
“Gold gets dug out of the ground, then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility.”--Warren Buffett
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Re: Best watch for around $5,000?

Post by czeckers »

11 pages. Wow.
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Taylor Larimore
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My Casio saved me $87,250.00

Post by Taylor Larimore »

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
"Simplicity is the master key to financial success." -- Jack Bogle
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norookie
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Re: My Casio saved me $87,250.00

Post by norookie »

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
T A Y L O R !!! A average of 10%,(You sound like a advisor-salesman :beer )..... :wink: your reaching my friend ! hehehe.... Just kidding! kinda....... :sharebeer
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rr2
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Re: Best watch for around $5,000?

Post by rr2 »

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.......
Why not... Taylor could have put it in a 30 year CD in 1982. CDs were paying 15% back then :)
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Re: Best watch for around $5,000?

Post by fishnskiguy »

You will find ten times more Rolex watches at your local car dealership than you will in most corporate boardrooms.

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Taylor Larimore
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Re: My Casio saved me $87,250.00

Post by Taylor Larimore »

norookie wrote:
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
T A Y L O R !!! A average of 10%,(You sound like a advisor-salesman :beer )..... :wink: your reaching my friend ! hehehe.... Just kidding! kinda....... :sharebeer
norookie:

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
"Simplicity is the master key to financial success." -- Jack Bogle
BoomersRock
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Re: Best watch for around $5,000?

Post by BoomersRock »

One thing I didn't know about Rolexes is they need to be serviced annually! Expensive. I purchased my ladies in Hong Kong mid- 80's. Paid $2k for 18k with 18k non-rolex presidential band. Beautiful, but would rather have the variety of an inexpensive quartz. Wearing stainless Guggi I bought on EBay for $100 and love it.

I do love a men's blue Submariner and would be tempted to buy a used one for the hubby.
thekro
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Re: Best watch for around $5,000?

Post by thekro »

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.
exigent
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Re: Best watch for around $5,000?

Post by exigent »

Get a Pebble:

http://www.kickstarter.com/projects/597 ... nd-android

After you factor in the iPhone and a few years worth of service, you're getting close to $5k. ;-)
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HomerJ
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Re: Best watch for around $5,000?

Post by HomerJ »

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.
From April 1982 to April 2012, $250 invested in the S&P 500 is now worth $6910.

And you got that return with zero time spent learning how to appraise watches or art.
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Re: Best watch for around $5,000?

Post by cheese_breath »

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.
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thekro
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Re: Best watch for around $5,000?

Post by thekro »

rrosenkoetter wrote:
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.
From April 1982 to April 2012, $250 invested in the S&P 500 is now worth $6910.

And you got that return with zero time spent learning how to appraise watches or art.
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.
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hand
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Re: Best watch for around $5,000?

Post by hand »

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.

$250 in 1982 is slightly more than $557 in today's dollars.
If you spent nothing to maintain your watch, avg. return was 5.77% / year for 30 years.

Realistically, you have probably had to service at least 4 times in the last 30 years (once every 7 years) at a cost in today's dollars of perhaps $300 which means the true cost in today's dollars for your "$250" watch is $1,757.

Congratulations on your 1.8% annual return!
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XtremeSki2001
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Re: Best watch for around $5,000?

Post by XtremeSki2001 »

thekro wrote:
rrosenkoetter wrote:
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.
From April 1982 to April 2012, $250 invested in the S&P 500 is now worth $6910.

And you got that return with zero time spent learning how to appraise watches or art.
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.

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.
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Re: Best watch for around $5,000?

Post by HomerJ »

thekro wrote:Do you decorate your wall with a big blow up print of you Vanguard statement
I gots dead animal heads on my wall.
or wear it on your wrist when you go out and want to look good?
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.

As for telling time, it's always beer-thirty! (We never get tired of that joke!)
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Re: Best watch for around $5,000?

Post by HomerJ »

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.
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...

It's just like if someone came on this site (full of frugal investors) and started talking about buying a $2 million car... (100 times more than $20,000). Or a $80,000 TV (100 times more than $800).

$5000 is a HUGE amount to spend for a WATCH... It just boggles most of our minds... just like someone talking about a $80,000 TV would probably boggle your mind.

$5000 isn't quite as bad if you're talking about jewelry. So let's just admit it... It's a man-bracelet.

I'm not into man-jewelry, but I guess $5000 isn't ridiculous for a nice ring or a braclet or a necklace.
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Re: Best watch for around $5,000?

Post by VictoriaF »

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 thread is a part of the community history. Reading it is a rite of passage into the Bogleheaddom.

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Re: Best watch for around $5,000?

Post by Sam I Am »

This is part of what I posted November 16, 2008:

"....I have a certain goal that will trigger a purchase of a Rolex for myself, I'll reach it one day...."

Well, by golly I have reached and exceeded that financial goal, but I haven't bought my Rolex watch yet. I have also been blessed with another granddaughter and a grandson since that date, and there are far better things to buy, for now. Perhaps later.

Sam I Am
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Re: Best watch for around $5,000?

Post by HardKnocker »

I invest in Beanie Babies.
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Re: Best watch for around $5,000?

Post by jackpistachio »

VictoriaF wrote:
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 thread is a part of the community history. Reading it is a rite of passage into the Bogleheaddom.

Victoria
This. :-)
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Re: Best watch for around $5,000?

Post by roymeo »

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.
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".

The reason people balk at the watches and watch wearer/buyers is because the luxury watch is considered a conspicuous good with the main purpose to be 'shown'. I've heard several stories about how the new rich Chinese will buy lot of things for conspicuous display but the insides of their houses are only seen by family so they don't spend any money there and they look more like college dorm rooms. It's a lot harder to make the home a conspicuous display.
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Re: Best watch for around $5,000?

Post by leod »

bogleheads seems to be more welcoming on boats vs watch, maybe because Taylor owns one?
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Re: Best watch for around $5,000?

Post by Taylor Larimore »

leod wrote:bogleheads seems to be more welcoming on boats vs watch, maybe because Taylor owns one?
Hi Leod:

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. :wink:

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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stemikger
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Re: Best watch for around $5,000?

Post by stemikger »

Taylor Larimore wrote:
leod wrote:bogleheads seems to be more welcoming on boats vs watch, maybe because Taylor owns one?
Hi Leod:

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. :wink:

Best wishes.
Taylor
+1
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Toons
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Re: Best watch for around $5,000?

Post by Toons »

I don't know why but after reading through this thread last night next thing I knew I found myself buying a watch :happy :happy

http://www.amazon.com/Casio-AQS800W-1B2 ... 518&sr=8-1
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Re: Best watch for around $5,000?

Post by thekro »

After reading this forum I found that I greatly under estimated the value of my vintage Rolex. I now know why a jeweler offered me $3000 which is way under fair market value. Another one of my favorite watches is the Bulova hack watch, I changed the band to a soft black leather band and it looks and feels great. What I like about this and the Rolex I have is the face on the watches , both are easy to read and neither has the day or date. I personally do not like digital watches,even my cheap Casio that I use to swim with is analog.The Bulova is not an expensive watch but I love the face on it.

casio
http://www.amazon.com/CASIO-MW600F-4AV- ... bs_watch_8

bulova
http://www.allamericanwatches.com/product/96A19
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Re: Best watch for around $5,000?

Post by Petrocelli »

LH wrote:The thread is back yet again!
You don't know how much this makes me smile.
Petrocelli (not the real Rico, but just a fan)
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Re: Best watch for around $5,000?

Post by Petrocelli »

Somewhere in the middle of this thread, I may have told this story.

20-some-odd years ago, I wanted to get my wife a 30th birthday present. She wanted a Rolex. I bought her one. It cost around $2,000. It was very nice.

On my 30th birthday, my wife wanted to get me something. She suggested a Rolex. I thought that was dopey, and requested a big screen TV instead. She bought me one. It was very nice.

More than 20 years have passed. I have been through 3 TVS. The one I got on my 30th borthday has probably been melted down for scrap and may be part of those cheap Casios you skinflints are wearing.

My wife still has that watch. I just did about 30 seconds research, and found that her watch now costs $9,650.
Last edited by Petrocelli on Fri Apr 13, 2012 6:22 pm, edited 1 time in total.
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Re: My Casio saved me $87,250.00

Post by Petrocelli »

Taylor Larimore wrote:
norookie wrote:
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
T A Y L O R !!! A average of 10%,(You sound like a advisor-salesman :beer )..... :wink: your reaching my friend ! hehehe.... Just kidding! kinda....... :sharebeer
norookie:

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
Yep. And if you didn't blow all that jack riding around in a dinghy like Captain Crunch, you'd have some real cash.
Petrocelli (not the real Rico, but just a fan)
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