Anyone following Baselworld new releases? I know it seems counterintuitive to the spirit of the WCI lifestyle, but when I am done with my loans I am going to treat myself to a watch. Which, depending on the type of watch, does increase in value over time so is not a depreciating asset. Anyway, just wanted to see if any watch loves out there.
"Comparison is the thief of joy." - Teddy RooseveltKambanParticipantStatus: PhysicianPosts: 2490Joined: 08/01/2016
Used to in the past but have developed allergy to many metals. Also, I never lusted to Rolex or Phillipe or the ones John Travolta advertised. Just $200-300 ones.
Now I wear a Garmin Vivoactive $100 watch that gives an accurate step count. And have wasted a lot on Fitbits that tended to break and the replacements were equally bad.Dr. MomParticipantStatus: PhysicianPosts: 574Joined: 02/27/2017
Not so much for myself, but the new Apple watch has been awesome for my husband. He has IDDM and wears a Dexcom continuous blood glucose monitor. It syncs to the watch so he can see his blood glucose just by looking at his wrist. He wasn’t sure he wanted it. I got it for him for his birthday. He loves it. Two days after he got it, he stopped using the monitor he used to carry in his pocket. Very cool.Vagabond MDParticipantStatus: PhysicianPosts: 3478Joined: 01/21/2016
I used to be watch guy. I have two Rolexes (one a graduation gift and the other my father’s old watch), and both sit in a safety deposit box. Eventually, I will probably sell them. Both are worth more than what was originally paid for them in the early 90’s. (“Wanna buy a watch?” 😉 ) I wear a Panerai as an everyday watch, in part to remind me to stop buying stupid stuff.
"Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger
My brother is a Panerai guy. Nice watch, but too big for my wrist. I like the 40 mm case size. What are the two Rolexes? I wouldn’t ever sell your Dad’s!
"Comparison is the thief of joy." - Teddy RooseveltMarch 21, 2018 at 7:15 am MST #111621NJDocParticipantStatus: PhysicianPosts: 196Joined: 02/07/2016
I still lust after nice watches, but I only own one Rolex. I almost pulled the trigger on a Vacheron Constantin Overseas Dual time, in rose gold, then I woke up and remembered I am actually trying to retire early. Hard to justify dropping $40K on it.ZaphodParticipantStatus: Physician, Small Business OwnerPosts: 6196Joined: 01/12/2016
I have sometimes worn a watch, the free one that came with my phone and a Garmin one that is useful for working out. Outside of workouts I find them redundant and not very useful. When I was younger I like them, but they were cool, and after phones people seemed to stop caring and they fell off the radar.
The problem with fancy watches, especially with hoping/telling yourself that they will retain value is that it may not be true and I’ll say its unlikely to be true. I find it very hard to believe that millenials are going to pretend to care about a Rolex because someone who grew up in the 70/80s did. It doesnt do anything useful, and they dont have that luxury sentimental attachment others do. Not many people are trying to signal Rolex vs. techie/hipster, I’ll go with tech as predominant winner over a longer time frame. Maybe the niche market can keep prices up or they can reduce supply to hold them.
There were lots of stamp collectors for decades with large ‘portfolios’ of stamps that are now worthless as no one cares and thinks theyre weird. Probably the best watch analogy given the hard asset/e asset nature of it.
Just a slightly younger persons pov, could be totally wrong, fwiw, I dont care about jewelry at all, just annoying and more stuff to remember to wear and easily forgotten somewhere.MPMDParticipantStatus: PhysicianPosts: 2509Joined: 05/01/2017
they are definitely in no way an investment. older Rolexes are so far out of style now you’d have to find someone who wanted to be unstylish, not retro.
I wore a $100 Victorinox my gma got me for HS grad every day of my life from 2000 to 2016, my in-laws got me a nice Tag that I now wear. Not blingy but I love it. The Victorinox kept much better time…
Garmin vivoactive for workouts and biking to work. I’ve been lusting after a nicer GPS/electronic watch as an activity watch to replace the Garmin.
I would agree to a lot of your points. However, there definitely is a niche market for certain watches, namely Patek and Rolex that does reliably increase in value. People have warned that mechanical watches are dead with the quartz movement, but in fact, the watch market is continuing to do well (particularly in Asia).
"Comparison is the thief of joy." - Teddy RooseveltMarch 21, 2018 at 8:00 am MST #111638Vagabond MDParticipantStatus: PhysicianPosts: 3478Joined: 01/21/2016
I read an article in the WSJ in the last week that the (expensive) Switch watch industry was looking to find ways to make itself more attractive to younger people. This can be said about a lot of other luxury goods, too. Women’s purses, among the wealthy, are ridiculously popular and expensive, especially for something that spends a lot of time on the ground or floor.
People’s tastes and luxury goods cycle in and out of fashion. I do not think that watches will go away, and, perhaps out of habit, I will always wear one. My son (19) likes to wear a watch, and he can have one of mine when he is a little older if he wants.
As for selling/keeping, I have no strong emotional attachment to stuff like this. If I needed the cash, I would sell the watches in a heartbeat.
"Wealth is the slave of the wise man and the master of the fool.” -Seneca the YoungerZaphodParticipantStatus: Physician, Small Business OwnerPosts: 6196Joined: 01/12/2016
I would agree to a lot of your points. However, there definitely is a niche market for certain watches, namely Patek and Rolex that does reliably increase in value. People have warned that mechanical watches are dead with the quartz movement, but in fact, the watch market is continuing to do well (particularly in Asia).Click to expand…
Obviously I dont know anything about the watch market other than my own perceptions and random tidbits, and extrapolating trends. Also, opening up a market like China could do crazy things, and I havent a clue about what they like there.March 21, 2018 at 8:18 am MST #111643GParticipantStatus: Physician, Small Business OwnerPosts: 1800Joined: 01/08/2016
Ten years out of residency, I started to “reward” myself with a new watch as a celebration of particular goals or milestones. (I mention that timing, because similar to the discussion about paying off a mortgage early, I had plenty of capital already deployed.)
While I certainly have a pony in the race, I respectfully disagree with MPMD and others who would dismiss the value of timepieces. I approach them similarly to artwork–could be worth a couple dollars, could be worth a lot more; either way it makes me happy. Different than artwork or real estate, it is also pretty easy to value a collection based on auction prices, unless you’re talking about a true rarity, which will never be an issue for me. Perhaps when everybody born before 1980 dies, watches will be valued similar to beanie babies.
And, yes, the first thing I did this morning was check out the releases from Basel.
I like your perspective. It’s fascinating to see the craze of the vintage Paul Newman Daytonas. One was recently auctioned for $17.8 million, which to your analogy is similar to art.
"Comparison is the thief of joy." - Teddy RooseveltwideopenspacesParticipantStatus: PhysicianPosts: 1138Joined: 01/12/2016
I thought I would get a nice watch after med school but by the time I finished I realized I hadn’t worn a watch in like 4 years and with cell phones everywhere, got a smart phone instead. I can see why people are into them though. As to them being unfashionable, I don’t know. Last week a Kardashian wore spandex bike shorts, a fanny pack, enormous sweatshirt, scrunched down tall socks and the clunkiest ugliest tennis shoes I’d ever seen, to a ribbon cutting ceremony. Super unflattering. So I*officially* don’t understand fashion anymore.KambanParticipantStatus: PhysicianPosts: 2490Joined: 08/01/2016
Date: July, 1991
Place: waiting in line in the hot sun for the ferry to take us from the south ferry terminal in Manhattan to Statue of Liberty.
A man comes in, passing each person in the line and speaking in a low voice “Rolex, Rolex, cheap prices”.
Most people ignore him and so do I because we knew it was a scam. But my friend feels we have time to kill and why not humor him and asks him ” let me see it”. He opens the left side of his worn jacket and we see the “Rolexes” hanging on the inner side. He gives us one to inspect. I have to admit it was a pretty good imitation. We ask” How much”. “Fifty dollars”. “Fifty dollars?? No way, we will give only $10.” He acts all insulted at such an offer but quickly comes down to $25. After a bit of haggling my friend and he agree to $15 best offer. Sale and done.
My friend proudly wears it on the ferry ride. I feel that he has been taken in for big ride and has lost $15. I meet him on and off over the years and he is still wearing that watch. Fifteen years later he states that it keeps accurate time and was one of the best imitation investments.
Even fake Rolexes keep perfect time. 🙂