Watch Gifting and Deadweight Loss
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Thread: Watch Gifting and Deadweight Loss

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  1. #1
    Member imaCoolRobot's Avatar
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    Watch Gifting and Deadweight Loss

    Christmas is soon approaching *ugh*
    Many will feel tempted to buy watches and give them to friends and relatives. (Or even for birthdays, graduations, and other celebratory causes).

    I think it is a bad idea.
    We here love watches and will spend what normal people would consider stupid amounts on them. The average person would be pleased with a $200 Daniel Wellington piece of crap. (Ugh)

    Economic Deadweight Loss is when we spend more on a present than what the final consumer (recipient) would spend on the same item.

    Here’s more articles https://www.ft.com/content/5cb1c5c4-...a-2b93a6856354

    So as much as we love watches...going to the trouble of buying one as a gift for an unsuspecting loved one is almost always a bad idea.

    https://www.washingtonpost.com/news/...=.63a39db02da2
    “If we could be satisfied with anything, we should have been satisfied long ago.”
    ― Seneca

  2. #2
    Member scooby's Avatar
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    Re: Watch Gifting and Deadweight Loss

    I have a slight twist on that idea. My fathers birthday is coming up and I know he likes watches. I was going to sell a watch that I rarely wore and was essentially like new. I was going to sell it on the forums, but I knew that I would take a 50 percent hit. Instead of taking the hit and going through the hassle of putting it up for sale, I just gifted it to my father. I know he will surely appreciate it. In this case, I feel like I eliminated the deadweight of the money and time lost on selling, and gained some good will capital by giving. He would never have bought a watch that nice on his own.
    Last edited by scooby; November 12th, 2017 at 19:48.
    chuasam and slcbbrown like this.
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  3. #3
    Moderator Public Forum John MS's Avatar
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    Re: Watch Gifting and Deadweight Loss

    Quote Originally Posted by chuasam View Post
    Christmas is soon approaching *ugh*
    Many will feel tempted to buy watches and give them to friends and relatives. (Or even for birthdays, graduations, and other celebratory causes).

    I think it is a bad idea.
    We here love watches and will spend what normal people would consider stupid amounts on them. The average person would be pleased with a $200 Daniel Wellington piece of crap. (Ugh)

    Economic Deadweight Loss is when we spend more on a present than what the final consumer (recipient) would spend on the same item.

    Here’s more articles https://www.ft.com/content/5cb1c5c4-...a-2b93a6856354

    So as much as we love watches...going to the trouble of buying one as a gift for an unsuspecting loved one is almost always a bad idea.

    https://www.washingtonpost.com/news/...=.63a39db02da2

    Better to give a little thought to what the recipient might actually want and use. We have given the grand kids watches which they seemed to appreciate and wear.
    chuasam likes this.

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  5. #4
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    Re: Watch Gifting and Deadweight Loss

    Quote Originally Posted by scooby View Post
    I have a slight twist on that idea. My fathers birthday is coming up and I know he likes watches. I was going to sell a watch that I rarely wore and was essentially like new. I was going to sell it on the forums, but I knew that I would take a 50 percent hit. Instead of taking the hit and going through the hassle of putting it up for sale, I just gifted it to my father. I know he will surely appreciate it. In this case, I feel like I eliminated the deadweight of the money and time lost on selling, and gained some good will capital by giving. He would never have bought a watch that nice on his own.
    This is always my favorite option. Curious, what watch was it?
    chuasam and fish70 like this.
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  6. #5
    Member imaCoolRobot's Avatar
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    Re: Watch Gifting and Deadweight Loss

    Quote Originally Posted by Silent View Post
    This is always my favorite option. Curious, what watch was it?
    I’ve pawned off Swag from clients that way.
    “If we could be satisfied with anything, we should have been satisfied long ago.”
    ― Seneca

  7. #6
    Moderator Public Forum John MS's Avatar
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    Re: Watch Gifting and Deadweight Loss

    aka re-gifting..

  8. #7
    Member scooby's Avatar
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    Re: Watch Gifting and Deadweight Loss

    Quote Originally Posted by Silent View Post
    This is always my favorite option. Curious, what watch was it?
    It was a Traser Survivor. My dad is retired and pretty casual. I know he’s worn military style watches in the past. He’s even told me he prefers rubber straps to bracelets. This one has a long life lithium battery, sapphire, and screwdown crown. Should be able to handle any abuse he throws at it.

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  9. #8
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    Re: Watch Gifting and Deadweight Loss

    We bought our first gift-to-be watches for our parents’ upcoming 50th anniversary.

    Mom suggested that we buy a pair of watches (I’ll ALWAYS welcome “what gift I want” remarks from Mom because she’s abandoned surprise gifts in the past), but she didn’t specify a budget — only the basic style and intent.

    Now fearlessly armed, my wife and I went shopping, and picked out a couple watches. I’m pretty sure Mom n’ Dad will like them both. I don’t think we’ll bother letting them know how much we spent (it would be crass anyway, regardless of the price), although we might hint that we got a good deal.
    scooby likes this.

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