Why Can't I Bring Myself to Buy Me a Nice Watch?

tphp99 · Post by **tphp99** » Sat Mar 23, 2013 9:06 pm

I was at the Porsche dealership this weekend - wearing my running watch ($50?) while seriously considering a $150K car. I've always wanted a 911 Turbo S - since my 20's :twisted:

.

I wish a watch would do it for me. It'll be a whole lot easier on the wallet than sports cars.

Get the watch you've always wanted. You deserve it - get it, enjoy it. You're not cheap, you just wired funny.

gator15 · Post by **gator15** » Sat Mar 23, 2013 9:32 pm

I would buy the watch. You've wanted the watch for 40 years. You've saved diligently for several years. You can afford it. Sure, others don't value having an expensive watch, but you do. I'm sure there are things they spend ridiculous amounts of money on which you don't value. If you want it, get it. I have an expensive watch and I don't have any buyers remorse. I waited two years until I purchased. Enjoy the fruits of your labor. What's the point of saving money if you aren't going to spend it on the things you enjoy.

donall · Post by **donall** » Sat Mar 23, 2013 9:36 pm

Buy the watch. You can always sell it if you don't like it, perhaps to a boglehead.

donall · Post by **donall** » Sat Mar 23, 2013 9:37 pm

deleted identical posting

Calm Man · Post by **Calm Man** » Sat Mar 23, 2013 9:40 pm

I never remove my watch from my wrist. I use it for running, as an alarm clock and it tells me the date and month. A Rolex does no such thing. I did spend a fair amount on my Casio. $15. It needs replacing every few years when the band breaks. To me a Rolex is a complete waste of money and many here have 7 figures like you and don't need or want it. However, if your question is can you afford it, of course you can.

Toons · Post by **Toons** » Sat Mar 23, 2013 10:43 pm

Buy the watch ,buy the watch,buy the watch,,,and come back
and let us know how much you are enjoying the purchase :happy

rjbraun · Post by **rjbraun** » Sat Mar 23, 2013 11:29 pm

HardKnocker wrote:Most people today do not wear watches. They use their cellphones to tell them the time.

I have two watches that I never wear. The batteries died. I replaced the batteries and didn't wear the watches. They died again.

Watches are obsolete.

I bought a nice watch over 20 years ago. Like OP I really, really wanted the watch. I didn't have the patience to wait 40 years to buy it. Would I buy it again now? Perhaps not, given we're in the age of the smartphone. That said, I too have not replaced the battery for at least a couple of years; $100 or more to replace a battery was more than I felt like paying.

Did I think about my watch over the last couple of years? Yes -- I did kind of "miss" it. Was I excited when the watch repair place called Friday afternoon to say that my watch battery has been replaced and the watch is now ready for pick-up? Am I eager to stop by the shop tomorrow and start wearing it again? Yes!

Though I have relied on my smartphone clock the past number of months, now that I've started a new job there have been a number of instances, typically a meeting, where I wished I was wearing a wristwatch so that I could at least somewhat discreetly check the time. Also, my health club bans cellphone usage in the locker room. When I'm rushing to get dressed for work after exercising, I would also like to be able to glance at my watch for the time.

So, while I agree that watches aren't as crucial today as they were pre-smartphones, I do find them helpful at times. And because mine falls enough in the jewelry category, I will be happy to start wearing it again soon.

atwood · Post by **atwood** » Sun Mar 24, 2013 12:30 am

It's hard to spend that amount of money on any consumer item because it typically prompts the question of need. But man does not live on bread and PBJ alone.

Buy the watch! Yes, it won't keep perfect time, yes, it will probably have to be serviced, but it's a Rolex and that's what you want. In this economic climate, I would look around for a used one as others have suggested. If you can't find the model you want used, see what kind of discount you can get on a new one.

bayview · Post by **bayview** » Sun Mar 24, 2013 1:12 am

I bought a nice watch as some sort of reward to myself, only to find that like every other watch that I've owned (duh), I don't wear it at work because it interferes with my wrists on my computer keyboard, and since I then come home and get on my laptop, the same thing happens there.

Just from a boring ergonomic viewpoint, wear some cheapo watch with a similar bulk to the Rolex and see if it drives you nuts. Meanwhile, between the clock on my work computer, my home laptop, and my smartphone, I'm pretty clear on what time it is.

OTOH, having something shiny and sparkly on my wrist does have a certain coolness factor. But that's all it is --just bling.

kitteh · Post by **kitteh** » Sun Mar 24, 2013 4:52 am

If I had really wanted something for years and could afford it, I'd buy it. A watch doesn't do it for me personally (still have my Timex), but I'm sure I could think of something if I put my mind to it.'

As someone else mentioned, I would have a bit of concern about being a crime target. I deal with the interfering with the keyboard problem by removing it temporarily.

Taylor Larimore · Post by **Taylor Larimore** » Sun Mar 24, 2013 6:54 am

In 1945, at the end of of World War II, I was one of millions of American GIs waiting to come home. The Army organized sport teams to reduce boredom. I was sent to Switzerland to represent the 101st Airborne Division in a swimming match.

On the way back to my unit, I decided to send Swiss watches to my mother, father and brother. I entered one of many small watch shops in Basel, Switzerland and told the proprietor of my desire. He recommended I buy 3 Rolex watches. I told him that I never heard the name, "Rolex," but he assured me they were good watches. I bought the three watches with the promise he would mail them home. I forget the price, but it was not much. A short time later I received letters from my parents and brother thanking me for the watches.

The three Rolex watches are still in the family and I am told they still work.

Best wishes.
Taylor

kingsnake · Post by **kingsnake** » Sun Mar 24, 2013 7:49 am

pull the trigger! You only live once.

If you want a deal I think you can buy the Rolex overseas and pay lesses taxes on it or get a better price, plus make a trip out of it. I perused the timezone.com forum and I think that was suggested there. I have been loosely contemplating a nice watch purchase. That being said Id like a new $3000-4000 custom steel road bike, which some think is crazy. Ill get that bike in 5 years or less. Anyway, if youve wanted it most of your life, and it costs less than 1% of your savings...seems like a no brainer to me to purchase said item.

Cash · Post by **Cash** » Sun Mar 24, 2013 7:58 am

I say buy the watch. But before you do so, spend some time somewhere like timezone.com or the Rolex Forums to learn what makes your purchase special. If you buy one without doing so, then you will probably wonder whether it was really worth the premium over the random Timex. It doesn't even beep! (although some mechanical watches do)

My daily watch is a Jaeger-LeCoultre. I bought it for a good price in near-mint condition from a seller on Time Zone (you don't have to abandon all of your Boglehead principles!), and I have never regretted the purchase. It's a fantastic piece of craftsmanship.

bottlecap · Post by **bottlecap** » Sun Mar 24, 2013 8:26 am

You can certainly afford it, but I think you hesitate because deep down you know it's kind of silly. You also know the value of a dollar, having saved so long. I had a few purely "wants" when I was younger. While I still want them, it doesn't seem as important now and is harder to part with the money now that I've actually earned it.

But if you're going to get it, you might as well do it now so you can enjoy it as long as possible. If you regret it, does it hold it's resale value?

JT

JW-Retired · Post by **JW-Retired** » Sun Mar 24, 2013 9:20 am

You can certainly afford it if this is a unique indulgence and won't open the floodgates. I find myself wondering if next year we might be seeing something from you like: "why can't I afford a snowbird house in Aspen and/or that $150k Maserati I always wanted"?

Personally, I found stepping up from a Timex to a watch costing a few hundred dollars did it for me. It's looks and operation was a big improvement for the cost. Hard for me to imagine what the next $8k could add.
JW

jridger2011 · Post by **jridger2011** » Sun Mar 24, 2013 9:41 am

Go for it, wear it daily except for traveling.

Crystal Ball · Post by **Crystal Ball** » Sun Mar 24, 2013 9:51 am

The whole point of being a Boglehead is that you can afford to get the things that really matter to you because you didn't fritter away your money on things that don't matter.

Only you can decide if what you like is the idea of owningthe watch or if you would take pleasure in putting it on every day. If you can visualize enjoying it without remorse over the expense, you have our permission to have it.

It would be extremely kind to let your wife have the pleasure of giving. A casual "i always dreamed of having one of these" when you pass the store window should do the trick. If there is a special model, enlist the aid of the jeweler in guiding her.

Crystal

midareff · Post by **midareff** » Sun Mar 24, 2013 9:53 am

Taylor Larimore wrote:In 1945, at the end of of World War II, I was one of millions of American GIs waiting to come home. The Army organized sport teams to reduce boredom. I was sent to Switzerland to represent the 101st Airborne Division in a swimming match.

On the way back to my unit, I decided to send Swiss watches to my mother, father and brother. I entered one of many small watch shops in Basel, Switzerland and told the proprietor of my desire. He recommended I buy 3 Rolex watches. I told him that I never heard the name, "Rolex," but he assured me they were good watches. I bought the three watches with the promise he would mail them home. I forget the price, but it was not much. A short time later I received letters from my parents and brother thanking me for the watches.

The three Rolex watches are still in the family and I am told they still work.

Best wishes.
Taylor

AND, I'll bet they are worth far more today that what you paid then!

midareff · Post by **midareff** » Sun Mar 24, 2013 9:56 am

Tell the dealership you need a few grand off AND the Rolex on the front seat if you buy it. Turbo S is a big margin car in a world where Porsche has the largest retail margin of a major marque on the market on this planet.

LFKB · Post by **LFKB** » Sun Mar 24, 2013 10:17 am

What's the point in having money if you can't spend it on things you enjoy? If a watch is one of those things then go for it. It's not going to ruin your retirement and will retain some value in the future.

If you look around, you should be able to find someone who will give you 10-15% off the list price with a Rolex.

retiredjg · Post by **retiredjg** » Sun Mar 24, 2013 10:55 am

Taylor Larimore wrote:The three Rolex watches are still in the family and I am told they still work. Best wishes. Taylor

What a great story Taylor! Thanks for sharing it.

protagonist · Post by **protagonist** » Sun Mar 24, 2013 12:31 pm

TravelforFun wrote:I've always wanted a Rolex. Wanted it when I was 20 and now I'm 60. I have a 7-figure investment and no debts. I don't think I'm cheap since we live comfortably and travel extensively .... South America couple of years ago, Europe last year, and Australia this year. Every time I go to the mall with my wife, I stop at the jewelry store window and look at that watch but I can't pull the trigger and write an $8,000 check. Wife doesn't know my secret desire or she would have gotten it for me.

I was reading the posts about midlife crisis. Is that what it would take to push me over the edge and buy that watch or am I too late for midlife crisis (which is perfectly fine with me lol)?

Why can't you bring yourself to buy one? Maybe because the spinoffs look just like the originals, keep as good time, and (last I checked which was maybe 20 years ago) can be had for about ten bucks?

If I knew your wife, I would suggest to her that she buy you a spinoff, and then see how long it takes you to realize that it's a phony.

leonard · Post by **leonard** » Sun Mar 24, 2013 2:14 pm

I have an incredibly hard time taking anyone seriously that wears a Rolex.

But, if it's what you want and you can afford it - nah - still not worth it.

keystone · Post by **keystone** » Sun Mar 24, 2013 3:22 pm

Obviously you can afford it, but to me that isn't reason enough to buy something.

The question I would ask myself is "in 5 years from now, how will I feel about owning it?" In other words, it may be exciting when you first buy it and part of the allure is the you don't currently own it. But how do you think you will feel about it in 5 years? Will it be just another watch to you?

This is how I view buying an expensive luxury car. It may be exciting at first, but to me it will be just another car once the new car smell wears off. That's why I don't buy them. Of course that may or may not be the case for other people.

HardKnocker · Post by **HardKnocker** » Sun Mar 24, 2013 4:05 pm

The OP doesn't feel good about buying an expensive watch so he shouldn't get one.

He could donate the money to a charity of his choosing and feel really good about that.

mickeyd · Post by **mickeyd** » Sun Mar 24, 2013 4:38 pm

I recently bought myself a "nice watch" at the nearby sporting goods store. That $30 Timex Expedition runs like a champ!

DJB · Post by **DJB** » Sun Mar 24, 2013 5:37 pm

I second the posted who talked about buying pre-owned. As a watch guy myself, though, I would caution against buying a used Rolex. Forgeries abound. There are other brands of very fine watches, lesser known, which have no knock-offs at all. Consider some other high-end watch brands. I'd be glad to provide some tips on what to look for or where to shop if interested.

RTR2006 · Post by **RTR2006** » Sun Mar 24, 2013 6:58 pm

I bought a Rolex GMT in 2003 for $3300 and the newer model now retails for just under $8000. These are timeless designs and well made products that can easily last 60-100 years with proper care and maintenance, so you can and should consider it to be just another asset class. I suggest you go to http://www.TimeZone.com and http://www.vintageRolexforum.com to see what people are buying and selling - and wearing - and I hope you find something nice.

I've never regretted getting my Rolex and I'm shopping for a second vintage GMT as I write this.

Believe me, we're not taking any of this stuff with us...

Enjoy!!

RTR

VictoriaF · Post by **VictoriaF** » Sun Mar 24, 2013 7:00 pm

RTR2006 wrote:These are timeless designs and well made products that can easily last 60-100 years with proper care and maintenance, so you can and should consider it to be just another asset class.

If a watch is an asset class, is winding it a case of market timing?

Victoria

RTR2006 · Post by **RTR2006** » Sun Mar 24, 2013 7:01 pm

Some stern advice about used/vintage Rolex watches: buy the seller, not the watch. There are world class private dealers out there- and plenty of [poor quality --admin LadyGeek] Frankenwatches lurking out there. PM me if you'd like a list.

RTR

RTR2006 · Post by **RTR2006** » Sun Mar 24, 2013 7:04 pm

VictoriaF wrote:If a watch is an asset class, is winding it a case of market timing?

Victoria

Yes, but with an automatic watch, that's a good thing!

:happy

RTR

protagonist · Post by **protagonist** » Sun Mar 24, 2013 7:50 pm

RTR2006 wrote:
VictoriaF wrote:If a watch is an asset class, is winding it a case of market timing?

Victoria

Yes, but with an automatic watch, that's a good thing!

RTR

like dollar-cost averaging, huh?

mike143 · Post by **mike143** » Sun Mar 24, 2013 8:06 pm

Been wearing my Seiko Kinetic everyday for about 8 years now. Don't have to worry about scratching it (wear it when I shouldn't) and only thing I do is clean it every quarter, on average. It has a Sapphire crystal and paid $120 for it at a Seiko outlet. I wouldn't wear a Rolex or any expensive watch because I wouldn't want someone to know the value on my wrist or to get beaten over the head for such a insignificant item.

The watch I referenced:

If it broke or became lost I would buy the exact model again.

Atilla · Post by **Atilla** » Sun Mar 24, 2013 8:50 pm

Tell the wife to buy the damm watch for you...for your birthday, Christmas, whatever. It will make both of you happy.

She gets to buy you the watch. And you get the watch.

It's a no-brainer.

kybourbon · Post by **kybourbon** » Sun Mar 24, 2013 8:53 pm

My wife bought me a Rolex Submariner as a wedding day gift almost 4 years ago. I'm wearing it now, and aside from when I'm really dressing up, almost never take it off. It is automatic so it never needs a battery change, and from my experience, appears to be indestructable. The more I wear it, the more I get used to the weight, which is quite heavy, and don't think I could go back to a cheaper watch.

I write all this to hopefully persuade the OP to go for it and get his dream watch. As has been mentioned already, often these watches hold their value over time. My advice is to get one of the classic designs that you can wear daily. You won't regret it.

Post by **LadyGeek** » Sun Mar 24, 2013 9:20 pm

I removed a few posts containing personal attacks. As a reminder, see Forum Policy

We expect this forum to be a place where people can feel comfortable asking questions and where debates and discussions are conducted in civil tones.
... Attacks on individuals, insults, name calling, trolling, baiting or other attempts to sow dissension are not acceptable.

Occupier · Post by **Occupier** » Sun Mar 24, 2013 9:27 pm

I wonder if this is Petrocelli posting in drag, and he is just laughing himself crazy. Dave
P.S I gave up on my watch a year ago and just look at my cell phone to see what time it is.

HomerJ · Post by **HomerJ** » Sun Mar 24, 2013 9:39 pm

TravelforFun wrote:Why can't I bring myself to pay $8000 for a nice watch

For the same reason you don't pay $50,000 for a diamond-studded TV... Even if you could easily afford a $50,000 TV, you'd feel silly buying one.

Wolkenspiel · Post by **Wolkenspiel** » Sun Mar 24, 2013 10:09 pm

keystone wrote:The question I would ask myself is "in 5 years from now, how will I feel about owning it?" In other words, it may be exciting when you first buy it and part of the allure is the you don't currently own it. But how do you think you will feel about it in 5 years? Will it be just another watch to you?

I bought a used "mid-range" watch 13 years ago. I have been wearing it daily since and I'm still happy I bought it when I did. The same 1996 model "retails" for about the same inflation-adjusted price as it did in 1999 (all that was lost was the "spread", and the cost of the occasional servicing). My advice to the OP would be to wait for a good deal on the object of his desires (which can be had at authorized dealers, grey market or used) and then do it. Worst case he will out $1k or so when selling it again, should buyer's remorse set in. Obviously used purchases require a bit of care for expensive watches, Rolex' in particular. Given the timeline so far, there should be sufficient time for research, which adds to the fun.

zaboomafoozarg · Post by **zaboomafoozarg** » Sun Mar 24, 2013 10:13 pm

HomerJ wrote:
TravelforFun wrote:Why can't I bring myself to pay $8000 for a nice watch

For the same reason you don't pay $50,000 for a diamond-studded TV... Even if you could easily afford a $50,000 TV, you'd feel silly buying one.

You win the thread, sir!

Watty · Post by **Watty** » Sun Mar 24, 2013 11:41 pm

DTSC wrote:Buy a used one. You'll have a Rolex, but not pay full price.

+1

After you have had it for a while then you can decide to sell it of you don't find it worthwhile or if really like having one then you can upgrade to better one.

If your everyday watch is the proverbial $10 Timex you might also buy yourself a nice $150 watch for your everyday wear so will have a range of choices of on what watch is appropriate for a given day.

jay22 · Post by **jay22** » Mon Mar 25, 2013 9:09 am

You can clearly afford it, go for it. You live only once.

Not a Rolex but I bought a Tag Heuer (http://us.tagheuer.com/en/luxury-watche ... 110-ba0872) a couple of months back, very pleased with it!

MathWizard · Post by **MathWizard** » Mon Mar 25, 2013 9:37 am

There are two possibilities:

1) You feel that if you buy the watch, you will fall into a spending spree, and blow through
you money (something like a teatotaler worrying about becoming an alcoholic)

2) you have trained yourself that spending money on a luxury is bad.

My mother had a case of #2. She grew up in the depression, the daughter of a widow.
She herself was widowed with young children. By necessity, she loathed spending money
on anything but essentials. She did not even want her children buying her large gifts.
I think that she could not find pleasure in luxuries after having denied them to
herself for so long.

Occassionally, I find myself falling into that same pattern. I buy small indulgences every
once in a while (usually for my wife) so that I don't get into a rut.

Captain_Video · Post by **Captain_Video** » Mon Mar 25, 2013 8:27 pm

If you have the resources and want the watch buy it!
In my twenties I wanted an Omega Speedmaster. It was the "in" watch in the sixties; the watch worn by the astronauts. While working in Indonesia I made an R&R trip to Singapore for a few days. While there I visited the jewelry store in the hotel to checkout the Omega. After seeing and reading about Rolex, I bought a Rolex. I paid $165 for it (unlike today duty free ports really did have bargain prices then). The watch even came with test data, showing the rate at different positions and temperatures, to certify it met the chronometer criteria. My only regret was not buying the all gold model for $400 (gold was $40 ozt at the time). In 1986 I bought my second Rolex which I still have and wear every day. I have enjoyed my Rolex watches and I'm sure you will enjoy yours.
In the late eighties I bought several Rolex knock-offs in Seoul, Korea and gave them to friends. When someone was wearing one you could not tell the difference from the real thing. However they all died within about six months.

Fallible · Post by **Fallible** » Mon Mar 25, 2013 8:47 pm

TravelforFun wrote:I've always wanted a Rolex. Wanted it when I was 20 and now I'm 60. ...

Since you can afford the watch, you have to find a way to break a 40-year-old habit of not buying it. If you can't break it yourself ask your wife who doesn't have the habit (unless she's in a 40-year-old habit of watching your habit) to break it for you and buy the watch. Or give the money to a friend or relative (who doesn't know about your habit so he won't have the one your wife has) and ask him to break it for you by buying the watch. Be sure to stay with the person you give the money to until the purchase is made.

Post by **LadyGeek** » Mon Mar 25, 2013 8:52 pm

TravelforFun wrote:Wife doesn't know my secret desire or she would have gotten it for me.

The OP is missing a fundamental concept here. Just ask your wife what she would buy if she didn't have to worry about the money. You tell her a Rolex, she tells you "X". You're now out 8k + X. Can you afford it?

dewey · Post by **dewey** » Mon Mar 25, 2013 9:42 pm

HardKnocker wrote:Most people today do not wear watches. They use their cellphones to tell them the time.

I have two watches that I never wear. The batteries died. I replaced the batteries and didn't wear the watches. They died again.

Watches are obsolete.

This nails it. The younger set hasn't been wearing watches for quite a while. I took great pride in gifting the family with beautiful Danish Skagen watches, each selected with the individual in mind. But my 36 year old daughter--who is representative--doesn't wear hers and she's reflective of her peer set. They don't wear watches because they're basically single function devices in a multi-function device world. In fact--I no longer wear a watch either (63). Now, it will be interesting to see if technology advances to the point where we will wear a super device on our wrist that looks like a watch but really is something quite different. Except it too will tell time. Full circle...

JMacDonald · Post by **JMacDonald** » Mon Mar 25, 2013 11:17 pm

TravelforFun wrote:I've always wanted a Rolex. Wanted it when I was 20 and now I'm 60. I have a 7-figure investment and no debts. I don't think I'm cheap since we live comfortably and travel extensively .... South America couple of years ago, Europe last year, and Australia this year. Every time I go to the mall with my wife, I stop at the jewelry store window and look at that watch but I can't pull the trigger and write an $8,000 check. Wife doesn't know my secret desire or she would have gotten it for me.

I was reading the posts about midlife crisis. Is that what it would take to push me over the edge and buy that watch or am I too late for midlife crisis (which is perfectly fine with me lol)?

The comments about the younger set not wearing watches anymore is true. I wear a watch and am asked the time on a regular basis by those people who don't wear watches.

Actually, I didn't know one could get a Rolex for 8K. Since you can easily afford the watch, I say buy it. I am now in my 60s. The money I have saved all these years is for me to spend. If there is something I want and can afford it, I buy it. What is that money for anyway. If you don't spend that 8K, then your heirs will.

SteveNet · Post by **SteveNet** » Mon Mar 25, 2013 11:52 pm

I haven't worn a watch since I retired in 2004, with that said If I want to know the time I just ask my wife. :wink:

craigr · Post by **craigr** » Tue Mar 26, 2013 12:00 am

Just get one. You've been wanting one for 40 years and can afford it. Who cares what other people think.