Help pulling the trigger
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  1. #1
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    Help pulling the trigger

    Hi r/watches!


    So, I've been a watch enthusiast for a couple of years now. Started getting interested when my friend got an old vintage Omega 120 from his parents. I have now, 2 years later, acquired my taste. I also turned 18 some months ago and was gifted a part of the trustfund my dad put in a savings account when i was born, around $13000 (My parents are relatively well-off, that is a months wage to them). My 2 sisters were given the same amount and spent it on the first apartment and the others hobby, horses.


    Im going into University (Sweden) this fall which means Im going to be moving into my own apartment and having my own economy. I'll be having a budget of around $1000/mo to move around with, given to me by both my parents and the government.


    Would it be completely out of line for me to invest around $4000 out of the trustfund in a Rolex 16570? I know my parents arent going to approve since they dont understand the watch-thing and believes it's only materialistic, but since the watch probably wont lose alot more value and almost all Rollies are reasonably easy to resell if I would get in any financial crisis, is it really that horrible of a move? Should I instead be saving the money as a emergency fund or for future down-payments on my first apartment?


    I really only want someone to make me flip the switch and get that watch. If it was my own money I had saved up, this would be a non-issue but since I it was given to me by my dad, I don't want to seem irresponsible with the money, or ungrateful.


    Thanks in advance for helping me out, Im really battling myself on this issue and just want someones 2 cents.


    TL;Dr: I was given $13000 by my well-off parents. Going to be moving out and attending University in fall with grants from my parents and the government of $1000. Is it stupid of me to buy one of my grails, a $4000 Rolex 16570 instead of saving the money as a emergency fund or for future down-payments when Im going to be buying my own apartment?

  2. #2
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    Re: Help pulling the trigger

    Get a handle on your expenses to ensure your $1k/month is enough. IF you can leave $9k in the trust fund, then that can be your emergency fund. If not...if the expenses (plus, say, 20-25% because there's ALWAYS unexpected expenses) exceed the general income...save the money.

    I don't think 30% of the trust fund is overly large...altho it's about the max I'd suggest. And a Rolex should be an excellent choice.

    What you might want to do is wait a year. Leave the trust fund alone; track the expenses through your first year of university. Even tho you could sell the Rolex back, you'll still lose quite a bit on it. It would be better to convince yourself that you *can* afford to spend some of the trust fund.
    Adam Wallander likes this.
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  3. #3
    Member ShaggyDog's Avatar
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    Re: Help pulling the trigger

    This is probably something that you should be talking to your parents and/or financial advisor about rather than a bunch of watch enthusiasts on an internet forum.
    chefmhf and Keithcozz like this.

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  5. #4
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    Re: Help pulling the trigger

    a little too personal of a post for the forum IMHO

  6. #5
    Member SomeAssemblyRequired's Avatar
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    Re: Help pulling the trigger

    Quote Originally Posted by gangrel View Post
    ...Even tho you could sell the Rolex back, you'll still lose quite a bit on it...
    US$4K for a 16570 would be low if the watch is in good condition, so caveat emptor. But assuming it's genuine and you're just getting a terrific deal, you will come very close to getting your money back if you decide to sell later. If you decide to pull the trigger, that's one great way to kick off a watch collection.
    “I have come to believe that the whole world is an enigma, a harmless enigma that is made terrible by our own mad attempt to interpret it as though it had an underlying truth.” Umberto Eco

    Panerai * Rolex * Omega * Ball * AEgir * Mühle-Glashütte * Oris * Archimede * Seiko * Magrette * Padron

  7. #6
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    Re: Help pulling the trigger

    At the end of the day it's your money do what you wan't. However what sort of an understanding of money do you have. Do you work hard for what you have or do your parents just give everything to you?

  8. #7
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    Re: Help pulling the trigger

    Quote Originally Posted by gangrel View Post
    Get a handle on your expenses to ensure your $1k/month is enough. IF you can leave $9k in the trust fund, then that can be your emergency fund. If not...if the expenses (plus, say, 20-25% because there's ALWAYS unexpected expenses) exceed the general income...save the money.

    I don't think 30% of the trust fund is overly large...altho it's about the max I'd suggest. And a Rolex should be an excellent choice.

    What you might want to do is wait a year. Leave the trust fund alone; track the expenses through your first year of university. Even tho you could sell the Rolex back, you'll still lose quite a bit on it. It would be better to convince yourself that you *can* afford to spend some of the trust fund.
    Sounds like a really good plan, probably the most reasonable way of buying it. I've never lived on my own and have started looking at my expenses but very hard to project how it will change when I move out!

  9. #8
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    Re: Help pulling the trigger

    Quote Originally Posted by SomeAssemblyRequired View Post
    US$4K for a 16570 would be low if the watch is in good condition, so caveat emptor. But assuming it's genuine and you're just getting a terrific deal, you will come very close to getting your money back if you decide to sell later. If you decide to pull the trigger, that's one great way to kick off a watch collection.
    Yeah, buying it through a watch-forum in Sweden where the prices are currently pretty low for the 16570. Will probably post here asking for opinions on the condition of the watch before buying!
    Since I'm not planning on making this watch my last, starting with a bang seems right.

    Quote Originally Posted by Jordanbav View Post
    At the end of the day it's your money do what you wan't. However what sort of an understanding of money do you have. Do you work hard for what you have or do your parents just give everything to you?
    So-so, not the most hardworking person but depends on what I'm working with. I am suffering from trust-fund syndrome, trying pretty hard to change that...

    (Sorry for double-posting, first time here!)

  10. #9
    Member clarken's Avatar
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    Re: Help pulling the trigger

    Man how times have change when I was your age car was #1 on the list but your correct a Rolex is easier liquidated for cash if you need cash later but like others have mentioned not really a matter for watch enthusiast on a forum good luck.


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  11. #10
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    Re: Help pulling the trigger

    It is indeed a personal thread, but it doesn't bother me! I just want to say that if you have so many questions, maybe it is better to wait. After all, you don't want to buy an expensive watch with the feeling of letting you parents down.

    If it were me, I would probably list my arguments, prepare a speech explaining how it is an important thing to me, how the pleasure it will give me is worth the money... I would underline that I understand how most people will not relate to this "hobby", and ask them to understand how I am different from most people when it comes to watches (and their meanings).

    From their reaction, you could either buy the watch if you feel "understood", or decide to wait a little longer and show how you are a responsible person in the following months, and think again.

    Alternatively you could just find a cheaper watch you really like, and save the Rolex for the future.
    Adam Wallander likes this.
    "Time is just memory mixed with desire"

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