Re-Sale Value

View Poll Results: Is Resale Value Important?

Voters
55. This poll is closed
  • Resale Value is VERY important

    6 10.91%
  • Resale value is a factor but not the most important

    18 32.73%
  • Resale value - I don't feel either way about it

    6 10.91%
  • Resale value - It's not THAT important really is it?

    7 12.73%
  • Of total irrelevance - buy what you like and that is that

    18 32.73%
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Thread: Re-Sale Value

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  1. #1
    Member GETS's Avatar
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    Re-Sale Value

    I could have posted this in the public forum but given that a lot of people buy watches in the $100 to $750 range I don't think the replies would have been recipient to the point/question I want to make/ask.

    Some posters in the High End forum grind my gears a bit when they say "resale value is of no consequence, I buy what I like" or/and write "resale value has no place in a topic about what watch to buy". The reason this boils my urine is that it is often written (or this is my perception anyway) in a kind of haughty 'I'm better than you' kind of way. Almost like the subject of money is somehow low grade and that horological purists just wouldn't consider it? Clearly I disagree with that.

    My watch collection must have cost me about £250,000 (I've not added it up) - but to give you some background I was born in a VERY poor area in the UK (being the son of an immigrant where we were all shoved into one terribly run down region in the middle of the country). I've never forgotten where I came from - what money is worth - and whilst I don't feel guilty in treating myself (well sometimes I do) I do need to know that if everything went badly I could at least get a sensible return when liquifying assets. So if it is a marginal call between watch A and B but watch A will only depreciate (even after heavy discount) at 10% and watch B will lose 30% I would most likely go for watch A. For me some watches just depreciate too fast and too hard for me to justify the purchase price.

    Now to be clear - I'm not saying I am right and others that don't consider this factor are wrong. Each to their own. But I do object to the aforementioned 'lecture' you often get in here about "buy what you like and resale is all irrelevant". If you think it is all nonsense then skip this consideration when it is posited and move on please. I'm a big boy and I don't need telling what should be important to me and what shouldn't.

    I would be interested in the thoughts of everyone else - even if I am in the minority.

    Regards,

    GETS

  2. #2
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    I think you are wise to not post this in the public area as id expect it be a public flogging / crap show of responses.

    I read your post to say that you were from a poor immigrant family and have personally become wildly successful but want to hedge incase the world turns upside down (brexit?? J/K) so u still want to know what your downside is.
    Im sure as well that you understand a collection as such is such a lavish way to spend your money - and of course you have every right to do just that, though I would assume(hope) that if you felt so confident that you were able to make those purchases to build that collection, well then you must have the rest of your house in order so to speak- which I certainly hope is your case as no matter how liquid something seems to be, in a real emergency can you really hope to flip the collection asap to save the day if need be?
    This underlies some peoples comments, and is why I vote for the last option in your poll, I buy what I want and never intend to sell nor expect to rely on my tiny by comparison (maybe 40K US) collection. Sure it will continue to grow and perhaps get to about 100k when is all said and done, but these future luxury purchases are coming as I have stabilized all other financial aspects of my life and would not be needed in an emergency as I would not continue to acquire additional luxury pieces if this was not the case.
    If you read back what you wrote, you say you have a collection worth more than $400K US which is massive by any measurement no matter what success you have personally, and to say to yourself or think it slightly in the back of your mind that they are part of an emergency fund seems a bit odd to be honest, and im sure some would post harsh things in that public forum though they would not be right to do so.

    Now before some comment about other collections values and blah blah blah, I state some of this with the understanding that you live in the UK and not Asia where there are many other factors , socio-political what have you that factors into why some use high end luxury items (think PP) as a store of value because they cant show or save or acquire into the global financial system like you or I can.

    Bottom line its your cash (quid) and do as you will, and never give an F what anyone on a messageboard says, dont let them get to you or make your blood boil, you dont want to give yourself a heart attack with a collection like that!

    Cheers
    GETS, drhr and MDNoobie like this.

  3. #3
    Member GETS's Avatar
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    Re: Re-Sale Value

    Quote Originally Posted by m630 View Post
    I think you are wise to not post this in the public area as id expect it be a public flogging / crap show of responses.

    I read your post to say that you were from a poor immigrant family and have personally become wildly successful but want to hedge incase the world turns upside down (brexit?? J/K) so u still want to know what your downside is.
    Im sure as well that you understand a collection as such is such a lavish way to spend your money - and of course you have every right to do just that, though I would assume(hope) that if you felt so confident that you were able to make those purchases to build that collection, well then you must have the rest of your house in order so to speak- which I certainly hope is your case as no matter how liquid something seems to be, in a real emergency can you really hope to flip the collection asap to save the day if need be?
    This underlies some peoples comments, and is why I vote for the last option in your poll, I buy what I want and never intend to sell nor expect to rely on my tiny by comparison (maybe 40K US) collection. Sure it will continue to grow and perhaps get to about 100k when is all said and done, but these future luxury purchases are coming as I have stabilized all other financial aspects of my life and would not be needed in an emergency as I would not continue to acquire additional luxury pieces if this was not the case.
    If you read back what you wrote, you say you have a collection worth more than $400K US which is massive by any measurement no matter what success you have personally, and to say to yourself or think it slightly in the back of your mind that they are part of an emergency fund seems a bit odd to be honest, and im sure some would post harsh things in that public forum though they would not be right to do so.

    Now before some comment about other collections values and blah blah blah, I state some of this with the understanding that you live in the UK and not Asia where there are many other factors , socio-political what have you that factors into why some use high end luxury items (think PP) as a store of value because they cant show or save or acquire into the global financial system like you or I can.

    Bottom line its your cash (quid) and do as you will, and never give an F what anyone on a messageboard says, dont let them get to you or make your blood boil, you dont want to give yourself a heart attack with a collection like that!

    Cheers
    Thank you for your thoughtful reply.

    I wouldn't say I'm "wildly successful" but I don't owe anybody anything (banks included) but I try and respect money even when buying terribly unnecessary things (even if that comes across like some kind of oxymoron?)
    GrouchoM, omeglycine and Maiden like this.

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  5. #4
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    Re: Re-Sale Value

    It's a great question and one that moves on to stuff here in the first world other than just watches. I guess if I could meld both your and m630's comments together that'd be perfect for me (now that is def an oxymoronic statement ) .

    Subjective for sure and a related example, I have a friend who is at least a multi millionaire, if not a billionaire, he never buys his cars new (marque names) so as to get the most value for his dollar. I, on the other hand, always buy new obviously taking the hit on depreciation at resale, just my personal emotional make up I guess. Anyway, interesting OP and look forward to other comments/opinions . . .
    GETS likes this.
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  6. #5
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    Re: Re-Sale Value

    I voted in the middle, but now I'm reconsidering.

    I think it is a factor, but it wouldn't dissuade me from purchasing the watch. Rather, it would have an influence on my acquisition strategy. It would push me to either buy it new, on the one hand, or pre-owned on the other. But it doesn't change the fact that if I fall in love with a watch, I'm still intersted in it despite it's resale value. For example, I got a more or less unworn Lange 1815 up/down at a nice discount from a secondary market dealer.
    GETS and kak1154 like this.

  7. #6
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    Re: Re-Sale Value

    Because "money" has no reference and it's downhill for 'purchasing power', your lucky to break even.

  8. #7
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    Re: Re-Sale Value

    Quote Originally Posted by Watchbreath View Post
    Because "money" has no reference and it's downhill for 'purchasing power', your lucky to break even.
    I won't pretend to fully understand your post other than the last statement around breaking even.

    I have no delusions around breaking even or making a profit. None whatsoever. But I am not reckless either and wouldn't buy a Chopard Tourbillon at MSRP and lose £60,000 the next day on depreciation either (even if I thought the watch was 'nice').

  9. #8
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    Re: Re-Sale Value

    I don't care either way. Also came up poor. Retired at 50. If I want it I get it but I never buy anything thinking of getting rid of it. Plus, I hate dealing with people looking to scrape the brown off a penny at my expense.
    GETS, denmanproject and whineboy like this.
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  10. #9
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    Re: Re-Sale Value

    I don't know how to vote. I'm with MrBlahBlah. Resale value is not a factor in my decision to buy or not buy a watch, but it is a huge (only?) factor in whether I buy it new or used.
    GETS, MrBlahBlah and omeglycine like this.
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  11. #10
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    Re: Re-Sale Value

    Quote Originally Posted by Sergeant Major View Post
    I don't care either way. Also came up poor. Retired at 50. If I want it I get it but I never buy anything thinking of getting rid of it. Plus, I hate dealing with people looking to scrape the brown off a penny at my expense.
    I totally agree with your last comment. Money has never been my God (if it was I wouldn't collect watches!) For the record I have only ever sold two watches of the 27 I have bought - and both times it was to upgrade (Navitimer ETA to Navitimer B01 and Omega AT to a Omega AT GMT)

    Quote Originally Posted by kak1154 View Post
    I don't know how to vote. I'm with MrBlahBlah. Resale value is not a factor in my decision to buy or not buy a watch, but it is a huge (only?) factor in whether I buy it new or used.
    That's a really great point and one I always think about but I didn't post on - new vs used.
    kak1154 likes this.

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