Author Topic: To buy a Rolex or not to buy a Rolex: that is the question  (Read 18604 times)

Zoot Allures

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To buy a Rolex or not to buy a Rolex: that is the question
« on: November 22, 2014, 05:05:29 PM »
This post on Bogleheads caught my eye. To each his own, I guess!

23 year old... Can I afford a Rolex?

Hello Bogleheads,

I've been debating for some time whether it is the right time to buy a Rolex for myself. I have numerous watches but have never payed anything over a few hundred for one. My financial situation is currently 100% debt free with maxed out roth ira contributions as well as a secure "safety nest" if I ever needed funding. The question isn't whether I can afford it or not, but is it better spent else where? Let's say I spend $5,000 on a rolex tomorrow, because indefinitely I plan on getting one in the future.... the question is do I get it now, or should I wait till I'm 30 perhaps? While I have numerous other watches owning your first rolex is just something different. (plus it can be resold). What are your personal thoughts on treating yourself when you're not in debt?

Thanks!

mjs111

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #1 on: November 22, 2014, 05:23:01 PM »
I resold an Omega Seamaster for just about the same price I bought it for 5 years later, and I bought it new.  I suppose if he has the money for it and as long as he doesn't lose or damage it, he can always re-sell it for a similar price if his priorities change (assuming he gets a good deal on the front end).

I ended up selling the watch since it became increasingly clear that the watch wasn't nearly as good at telling time as my cell phone was.  I had to keep resetting the time based on time zones and daylight savings time. The cell phone did all that automatically.

Mike

BPA

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #2 on: November 22, 2014, 06:30:12 PM »
I laughed. 

If you have to ask a message board for permission to buy something, I think you have your answer.



Doubleh

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #3 on: November 22, 2014, 07:11:58 PM »
It's funny, I remember looking at rolexes and the like and thinking how fancy and successful they looked and promised myself one day I'd get one, after I'd cleared my debts.

By the time I had cleared those debts and realised I could go into the shop and drop cash for one of those fancy watches they suddenly lost all the shine for me. Once something like that is no longer an unobtainable luxury it loses much of its allure. Now its just something I could pop out and buy tomorrow if I wanted - but why the hell would I? I get far more enjoyment from seeing the money in my portfolio.

Davids

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #4 on: November 22, 2014, 08:02:35 PM »
It's funny, I remember looking at rolexes and the like and thinking how fancy and successful they looked and promised myself one day I'd get one, after I'd cleared my debts.

By the time I had cleared those debts and realised I could go into the shop and drop cash for one of those fancy watches they suddenly lost all the shine for me. Once something like that is no longer an unobtainable luxury it loses much of its allure. Now its just something I could pop out and buy tomorrow if I wanted - but why the hell would I? I get far more enjoyment from seeing the money in my portfolio.
So true, the satisfaction of knowing you can buy a luxury is better than actual having that luxury. I do not need to show off, my phone tells time the same way that Rolex does.

TreeTired

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #5 on: November 22, 2014, 08:24:52 PM »
Fancy watches is an acquired taste.  People can really get into them.  Funny thing is,  in the old days the issue was,  "Why pay $5000  (or whatever $$ you want)  for an item that functionally can be had for $29 (the price of a very nice and accurate Timex watch)?"

But now people don't even wear watches any more.   It's pretty much the same thing as buying a piece of jewelry as there really isn't any added functionality to a watch.  Oh, yes, it's much easier to look at my wrist than my phone for the time.   But you are looking at your phone constantly anyway.   

Winston

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #6 on: November 22, 2014, 09:09:20 PM »
I stopped wearing a watch during the past year or so. They just make typing uncomfortable. Digging the phone out to check the time is less convenient, but at least it's not painful.

boogiewoogie

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #7 on: November 23, 2014, 06:31:31 AM »
I like high end watches and have owned one in the past, but having come into Mustachianism I look down on brands like Rolex Omegas etc. as being another part of keeping up with the joneses and excessive luxury or some sort of status thing.

I had a colleague was asked me if he should get a Rolex or Omega for his fortieth birthday. I couldn't understand why, he doesn't even wear a watch and has no interest in horology.


BlueHouse

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #8 on: November 23, 2014, 06:56:47 AM »
But now people don't even wear watches any more.   It's pretty much the same thing as buying a piece of jewelry as there really isn't any added functionality to a watch.  Oh, yes, it's much easier to look at my wrist than my phone for the time.   But you are looking at your phone constantly anyway.
I work in a secure facility. No cellphones allowed. Nothing electronic allowed in or out. So it's pretty funny to see so many people constantly asking "what time is it" because no one wears a watch anymore. There are clocks in a few locations, but not in the hallways.  Everyone's late for every meeting.

Paul der Krake

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #9 on: November 23, 2014, 07:07:37 AM »
Urgh, nothing says new money bling like a rolex. They're like the Burberry of middle management.

Zamboni

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #10 on: November 23, 2014, 08:23:41 AM »
^True.  Very Wealthy men used to have a collection of a few fancy watches . . . all of which were inherited.  I have a couple of inherited watches from Grandparents.  While none of them were likely as expensive as a Rolex, I think I'll just stick to those when a watch is needed.

GuitarStv

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #11 on: November 23, 2014, 10:38:36 AM »
The last time I bought a watch (about six years ago) I dropped big money on it . . . because it was a really cool watch.  Multiple time zones, solar charged so you never have to worry about winding, automatically sets itself by listening to radio broadcasts every night so you never have to set it, etc. etc.  So I spent the 40$ on it.  And felt kinda guilty, so I've used it regularly every since.  Couldn't imagine owning one of these silly Rolex bracelets.

Raay

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #12 on: November 23, 2014, 11:20:20 AM »
I'd say buy a rolex only if you have someone to impress with a rolex. But if you do have such someone around you, what does it tell about your choice of company?

Same goes for other luxury goods. If you factor out the (good or bad) PR effects, they are just a piece of mostly useless consumer junk, like pretty much every other non-luxury product out there. While some of the luxury junk really takes substantial resources to make, some doesn't, but still retains a high price tag. I suppose the only valid reason to obtain, besides the one mentioned earlier, is if you are desperately bored and don't know what to throw your money at any more and want to "diversify" from more productive investments into valuables that you must insure separately against theft or damage, but then, what does it tell about your mental health?

surfhb

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #13 on: November 23, 2014, 11:49:57 AM »
Those Bogleheads are sure great with investment knowledge..... But sensible frugality is lacking with many of them :)

MrsPete

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #14 on: November 23, 2014, 04:56:34 PM »
Clearly the guy is looking for people to say, "Yes, you deserve this treat!"  He's looking for affirmation of the decision he's already made. 

I say he should wait until he can spell the word "paid" and use the word "indefinitely" correctly. 

NumberJohnny5

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #15 on: November 23, 2014, 08:02:36 PM »
23yr old, no debt (I assume 100% no debt means no debt of any kind whatsoever), maxing out his roth, and has a safety net (how much?). Basic question he's asking is "What are your personal thoughts on treating yourself when you're not in debt?"

Well, I wouldn't spend money just because I had some. But yes, I believe one should live for today AND plan for tomorrow.

So he wants to spend $5k on a Rolex (must be a lower-end new one, or maybe the prior model of GMT Master II/Submariner), what's the big deal? Let me ask it this way. Would you spend $5k on a once-in-a-lifetime overseas trip? Yes? Ok, let's say you take that trip to London (or Africa, or wherever) this year. Five years later, you decide you'd like to sell it and buy a different trip. What's that? Can't return a trip you've already taken? Well, THIS guy can possibly sell his $5k watch for nearly what he paid, and go buy another one. And again in another five years. Etc. etc. And if he decides to keep it and pass it on? Lots easier to pass on a $5k watch to your son than a memory of a vacation you took before he was born.

Now, me, I'd probably pick the overseas holiday. But there's no reason this guy can't have different priorities and spend his money on something different. He won't win any Mustachian awards, but I don't think he should be winning any Antimustachian awards either.
« Last Edit: November 24, 2014, 02:15:08 AM by NumberJohnny5 »

windypig

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #16 on: November 23, 2014, 08:06:16 PM »
Is this a joke? Of course money is better spent elsewhere.

vern

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #17 on: November 24, 2014, 01:29:15 AM »
Five thousand dollars!?  He's crazy!

When I was in China, a guy on the street sold me a Rolex for only 25 bucks.

RFAAOATB

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #18 on: November 24, 2014, 11:50:36 AM »
I want my Yachtmaster!  I think easy credit has taken the allure of luxury items for me.  If all it takes to get a new watch or handbag is a swipe of plastic, and anyone can carry 10k of debt on them, then how can I make sure people know I really deserve this Rolex?

Alternately while I can throw down on a Rolex without much struggle, getting the Brooks Brothers suits and Lexus to go with it is a bit beyond me and I don't want one piece without the others.

And really, luxury items beyond entry level should be purchased via passive income streams which I am still developing.

paddedhat

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #19 on: November 24, 2014, 02:50:41 PM »
Five thousand dollars!?  He's crazy!

When I was in China, a guy on the street sold me a Rolex for only 25 bucks.

LOL, while working in Mexico City, one of my buddies stopped, as were heading for the bar, and bought one off the street. We all told him he was a fool, until we got to the bar and he passed it around. It is a VERY rare version, as desirable as an Inverted Jennie postage stamp!  Why? you ask?  Well it's simple, the factory made a serious, yet undiscovered error and shipped this one out with "Rollex" on the face.  Well, it was twenty bucks, and the purveyor not only refused to take credit cards, but he didn't care to provide a receipt either......Sounds legit, eh?

jprince7827

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #20 on: November 24, 2014, 04:45:46 PM »
Five thousand dollars!?  He's crazy!

When I was in China, a guy on the street sold me a Rolex for only 25 bucks.

LOL, while working in Mexico City, one of my buddies stopped, as were heading for the bar, and bought one off the street. We all told him he was a fool, until we got to the bar and he passed it around. It is a VERY rare version, as desirable as an Inverted Jennie postage stamp!  Why? you ask?  Well it's simple, the factory made a serious, yet undiscovered error and shipped this one out with "Rollex" on the face.  Well, it was twenty bucks, and the purveyor not only refused to take credit cards, but he didn't care to provide a receipt either......Sounds legit, eh?


What's odd to me is this: If some knock off factory in Mexico can manufacture a Rolex clone that looks nearly identical to the original for 25$, why are Rolexes worth so much?

v10viperbox

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #21 on: November 24, 2014, 05:11:59 PM »
Five thousand dollars!?  He's crazy!

When I was in China, a guy on the street sold me a Rolex for only 25 bucks.

LOL, while working in Mexico City, one of my buddies stopped, as were heading for the bar, and bought one off the street. We all told him he was a fool, until we got to the bar and he passed it around. It is a VERY rare version, as desirable as an Inverted Jennie postage stamp!  Why? you ask?  Well it's simple, the factory made a serious, yet undiscovered error and shipped this one out with "Rollex" on the face.  Well, it was twenty bucks, and the purveyor not only refused to take credit cards, but he didn't care to provide a receipt either......Sounds legit, eh?


What's odd to me is this: If some knock off factory in Mexico can manufacture a Rolex clone that looks nearly identical to the original for 25$, why are Rolexes worth so much?

Because looking identical and functioning identically are very different things. I should not be in this thread I have a few vintage Rolex's and even a Patek or two kicking around. Bought them used, I enjoy them and I can sell them and have for more then I paid over the years. I like the engineering and its cash in the bank to me, does not effect my lifestyle and I am making 4% on them if I were to sell so its nothing more then cash to me in the bank.   

NumberJohnny5

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #22 on: November 24, 2014, 06:35:49 PM »
What's odd to me is this: If some knock off factory in Mexico can manufacture a Rolex clone that looks nearly identical to the original for 25$, why are Rolexes worth so much?

You can buy a replica Lamborghini. Now, are you going to say the replica is virtually identical to the real deal, so why would anyone buy the Lamborghini?

If all you want is looks, sure, the replica may be good enough. Of course there are good and bad replicas. There's $2 watches with the name Rolex, then there's $200 watches with a real ETA movement inside that look and feel the part. If you want the look but don't care about the actual product...a replica may be for you.

And I'm not being sarcastic. Heck, buy a $200 watch and pay another $200 to get it properly serviced. If it lasts five years before it fails, you're ahead of the game (as far as servicing costs; genuine Rolex can easily cost $500+ to service every five years).

Oh, and of course you're paying for brand recognition, whether you want it or not (on Wall Street, you may want it; 2AM in Kuala Lumpur, you may NOT want it).

EricL

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #23 on: November 24, 2014, 10:58:33 PM »
Why spend $5k for man jewelry when you can buy a cheap ass replica?  It's not like a faux Lamborghini at all.  Unlike Lambo replicas, fake Rolexs can't be detected by the average person.  Hell, most couldn't be detected by an expert unless you're dumb enough to let them examine it up close.  On the rare occasion I've worn my $50 bogus Rolex (I probably got ripped off) nobody's noticed even though I haven't set the right time since I bought it and the battery died three years ago anyway.  If you have to be ostentatious, go for the obvious first: wear a quality tailored suit. 

GuitarStv

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #24 on: November 25, 2014, 06:51:02 AM »
Umm . . .  Literally anything electronic tells the time, and is relatively accurate doing so.  A 2$ digital watch, the clock in your microwave, your cellphone, your computer, etc. etc.  How does a Rolex add 4975$ worth of value to telling time over a knock-off?

Scandium

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #25 on: November 25, 2014, 09:18:26 AM »
I resold an Omega Seamaster for just about the same price I bought it for 5 years later, and I bought it new.  I suppose if he has the money for it and as long as he doesn't lose or damage it, he can always re-sell it for a similar price if his priorities change (assuming he gets a good deal on the front end).

I ended up selling the watch since it became increasingly clear that the watch wasn't nearly as good at telling time as my cell phone was.  I had to keep resetting the time based on time zones and daylight savings time. The cell phone did all that automatically.

Mike
Even if you do, the opportunity cost of $5K over 5 years is $2,000 (1.07^5). So, not even counting what's lost to inflation (if you sell for the same you bought it for) you're paying $2,000 to look like a tool for 5 years.
Or you want a safe CD? Still cost you almost $400. That's what I paid for my extremely fancy (IMO) watch 12 years ago!

yyc-phil

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #26 on: November 25, 2014, 09:45:39 AM »
Five thousand dollars!?  He's crazy!

When I was in China, a guy on the street sold me a Rolex for only 25 bucks.

LOL, while working in Mexico City, one of my buddies stopped, as were heading for the bar, and bought one off the street. We all told him he was a fool, until we got to the bar and he passed it around. It is a VERY rare version, as desirable as an Inverted Jennie postage stamp!  Why? you ask?  Well it's simple, the factory made a serious, yet undiscovered error and shipped this one out with "Rollex" on the face.  Well, it was twenty bucks, and the purveyor not only refused to take credit cards, but he didn't care to provide a receipt either......Sounds legit, eh?


What's odd to me is this: If some knock off factory in Mexico can manufacture a Rolex clone that looks nearly identical to the original for 25$, why are Rolexes worth so much?

Because looking identical and functioning identically are very different things. I should not be in this thread I have a few vintage Rolex's and even a Patek or two kicking around. Bought them used, I enjoy them and I can sell them and have for more then I paid over the years. I like the engineering and its cash in the bank to me, does not effect my lifestyle and I am making 4% on them if I were to sell so its nothing more then cash to me in the bank.   

I can't really laugh too hard at this one, because I also own a few Rolexes and Omegas from the 50s and 60s, a couple inherited from my grand-father. I enjoy looking at them, once in a while opening the back and looking at the tiny movements, admiring the finishing, the level of adjustment, the history of the brand, the poetic image of the vanishing profession of the watchmaker. It's hard to define exactly why I like vintage watches, but it is probably for the same reason people like antique cars or furniture. To a large degree the attraction is aesthetic, almost like the concept of wabi-sabi, with the sort of beauty that can only come through years of gentle weathering that gives them a depth that modern watches -or smartphones- totally lack. Something old that has survived. There's also the heritage, historical associations, personal associations, classic design, rarity and perhaps a deliberate opt-out from the mass produced offerings because they were made by attentive watchmakers  rather than turned out on CNC machine. I never wear my vintage watches, but I don't think I will ever sell them, for their sentimental value.

Cpa Cat

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #27 on: November 25, 2014, 12:29:00 PM »
A person should buy a Rolex if they are an actual Master of the Sea.

Because when you navigate by the stars, it is important to have an accurate watch.

Sometimes, when I am exploring the Mariana Trench, I find myself wondering what time it is. You have no idea how many of my fellow explorers have drowned when they ran out of oxygen, because their non-luxury watches were incapable of telling time under the sea.

But only a poser would buy a Yacht Master without first buying a yacht to lord over. I will not be fooled!

frugalnacho

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #28 on: November 25, 2014, 01:38:45 PM »
I stopped wearing a watch during the past year or so. They just make typing uncomfortable. Digging the phone out to check the time is less convenient, but at least it's not painful.

Why would you need a watch or a phone to tell time if you are typing on a computer? 

I use a watch occasionally for my job because I need to time things to the second and it's always when i'm on a smoke stack juggling several things, so a watch is infinitely more convenient than my phone.   I originally got the watch because I was leaving the country and I wanted something that didn't rely on the cell phone network (because I would have no service where I was), and was also water proof (I was gonna be on a beach).  I paid $20 for it like 7 years ago.  I leave it clipped to my work bag until I need it.

NumberJohnny5

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #29 on: November 25, 2014, 03:40:19 PM »
Umm . . .  Literally anything electronic tells the time, and is relatively accurate doing so.  A 2$ digital watch, the clock in your microwave, your cellphone, your computer, etc. etc.  How does a Rolex add 4975$ worth of value to telling time over a knock-off?

Literally any place on earth lets you breath oxygen, and has things of various colors/shapes to look at. Your bedroom, your backyard, on top of the garage, etc. etc. How does an international trip add $5,000 worth of value to breathing and seeing colors/shapes in your hometown?

"But travel makes me feel ALIVE! It truly makes me happy! A watch could never do that!"

Ok, then that's a good choice for YOU. Can you acknowledge that there might be a person out there that would say:

"But having a high precision mechanical watch makes me feel ALIVE! It truly makes me happy! An overseas holiday could never do that!"

In the OP, let's substitute $5k Rolex with something that's important to YOU. How would you answer? I think most here would say "GO FOR IT!"

I think it's ok to question the guy once, ask "Why do you want this watch? Have you sat down to figure out what's really important to you?" Unless the guy answers "I don't really want it, and I was lying about being debt free, I owe hundreds of thousands in student loans!", I see no reason to mock him.

And we can discuss how his values are screwed up. I bet his $5k watch will leave a much bigger carbon footprint than a $5k overseas holiday.

*Note, when I say YOU, I mean the general YOU, not GuitarStv personally. For all I know, GuitarStv thinks overseas travel is stupid, and would much rather spend $5k on banjos.

GuitarStv

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #30 on: November 26, 2014, 06:47:25 AM »
GuitarStv does think that overseas travel is stupid and would be more likely to cobble together his own banjo from an old guitar neck and snare drum.

My question was regarding a fake vs a real Rolex.  If you're buying a Rolex to tell time . . . the fake will do it just fine.  If you're buying the Rolex to impress others . . . the fake will do that just fine as well.  If you're buying the Rolex to have a nice looking watch . . . well, the fake will look just like a Rolex, so will do this.

The only benefit I can see to the Rolex is simply in you knowing that you paid thousands of dollars more than you needed to for a watch.  Can't see how that would make you feel better about yourself though.

NumberJohnny5

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #31 on: November 26, 2014, 02:48:26 PM »
My question was regarding a fake vs a real Rolex.  If you're buying a Rolex to tell time . . . the fake will do it just fine.  If you're buying the Rolex to have a nice looking watch . . . well, the fake will look just like a Rolex, so will do this.

A fake Rolex probably won't tell time as accurately as the real thing. Yes, you MIGHT luck out. A Rolex that's within 5secs a day is nothing to write home about. A replica that's 20-30 seconds off a day is no big deal. And let's state the obvious, a cheap quartz will beat both in terms of accuracy.

If you're buying the Rolex to impress others . . . the fake will do that just fine as well.

Who are you trying to impress? The layperson on the street who wouldn't know a $10 fake from the real deal, or the person who collects luxury watches and can spot a fake from a mile (ok, from 30 feet) away?

Using the replica automobile analogy (and I'm gonna switch the analogy from replica Lamborghini to replica antique). If someone drives past me in an old 30s (or maybe it was a 40s or 50s) car, I'll think "cool". But if they take it to an antique auto show and try to pass a replica off as the real deal, I'm pretty sure they'll be caught out right away.

The only benefit I can see to the Rolex is simply in you knowing that you paid thousands of dollars more than you needed to for a watch.  Can't see how that would make you feel better about yourself though.

I think we can all agree that spending $5k on a watch would be a bad choice for YOU. You've listed the reasons you might purchase a watch, and have decided an expensive genuine Rolex is not for you. That's fine. But what if someone has different criteria than you do? What if they appreciate the history of the particular watch, or are intrigued by the mechanical movement inside, or...whatever?

I mean sure, a replica antique car LOOKS the same on the outside. Heck, you can even drive it down the road. Ok, The materials that went into making it may not be the same quality, but it LOOKS the same, at least for the next few years. The engine is completely different, but who cares? Well, SOME people care, and some don't. That's fine with me.

One last question (for now). Who would you think more highly of, a person who buys an item because it's flashy and will impress people, or someone who buys the same thing because they value it for what it is?

GuitarStv

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #32 on: November 27, 2014, 06:48:26 AM »
Who would you think more highly of, a person who buys an item because it's flashy and will impress people, or someone who buys the same thing because they value it for what it is?

Well, they're both idiots, but one of 'em has an extra 4975$ in the bank . . . so I'd have to lean towards the former.  :P

Buying something for it's 'history' is pretty dumb IMHO.  Make your own history with the things you use regularly.  There are much cheaper watches with mechanical movement that you could buy if you were actually interested in that.

We've already established that the watch doesn't have value as a timepiece (as it's outperformed by the cheapest watches sold), only as a piece of jewelery.  The Rolex bracelet is designed to look a certain way, that's it's only real function.  We've also established that only an aficionado would be able to tell the difference between it and a knock-off . . . so they basically look the same.  That leaves . . . obsession with a brand name as the only real reason to own a Rolex when you break it down.  Triumph of marketing I guess.

NumberJohnny5

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #33 on: November 27, 2014, 02:01:10 PM »
We've already established that the watch doesn't have value as a timepiece (as it's outperformed by the cheapest watches sold), only as a piece of jewelery.

Value is subjective. Let's say, GuitarStv has established that the watch has no value as a timepiece. One can value the fact that a purely mechanical movement can be so accurate. Or the design of the movement (same as appreciating a car engine for more than the fact it makes the car go from A to B).

Hope you don't have a problem with men wearing jewelry :)

That leaves . . . obsession with a brand name as the only real reason to own a Rolex when you break it down.  Triumph of marketing I guess.

A reason? Sure. The main reason for many? Perhaps. The ONLY reason, nah.

I just think it's silly to mock people here because of what they want to buy.

"Dude, do you know where you're posting, it's the Antimustachian Wall of..."

Yeah, I know. This is the place for stories that are the very antithesis of frugalness. Stories like:

Guy has to choose between lottery tickets and rent, gets evicted.

Woman begs family for grocery money, then books trip to DisneyWorld.

Coworker shows off her new Mercedes, then laments how she'll never be able to retire.

NOT stories like:

Guy has no debt, a healthy emergency fund, and a maxed out Roth IRA. Thinking about spending $5k on something he values. No story here. We need to conserve our strength, the shopping season is upon us.

GreenTurtle

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #34 on: November 27, 2014, 02:20:35 PM »
J5, stop being so rational!! 

I don't tend to spend much time on the forums because the "one true way" (and MINE is the one true way) attitude that is so pervasive here.  Unfortunately I think that sort of thinking is actually rather opposed to what I see as MMM's message of optimizing your current life and eliminating waste, with a nice side-effect being... freedom from work!  However, as a multiple watch owner I guess I've finally been goaded into weighing in.

Once people aren't doing stupid things like buying lotto tickets or iPhones instead of providing for their dependents and securing their own future,  optimization is all about utility... isn't it?  I happen to feel that I get plenty of utility out of my collection, so I have it.  Others disagree and wear a $10 drugstore watch or nothing at all, and that works for them... fine by me. 

For me, MMM's message has always had a healthy dose of "think for yourself" - isn't that sort of the genesis of all this?  Break out of the consumer sukka drone mold?  Why break out of one mold to find yourself trapped in another? 

luigi49

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libertarian4321

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #36 on: November 28, 2014, 05:44:47 AM »

Because looking identical and functioning identically are very different things.

Okay.  So slap the $29 Rolex-looking knock off on your wrist for snob appeal (which is, after all, the primary "function" of a Rolex) and carry a $10 digital watch in your pocket (which will keep time better than a $10,000 precision engineered mechanical Rolex).

I just saved you $4,961.  You're welcome.

Better yet, don't wear a watch at all and save the additional $39.  Who needs a watch in 2014?   How often is  anyone more than 10-feet away from a device that keeps the time (computer, cell phone, tablet, microwave, DVD player, car, game system, coffee machine, etc)?

I last wore a watch circa 2002 (it was a $9.95 digital).

When it broke, I was faced with the choice of 1.  Buy a $5,000 Rolex to impress my mostly broke (though well dressed) friends or 2.  Replace it with nothing and invest the money in an S&P 500 index fund.

I chose the latter, and while I appreciate "precision engineering" on anachronistic products as much as the next guy, I gotta tell 'ya, I'm not regretting that choice.

« Last Edit: November 28, 2014, 06:01:15 AM by libertarian4321 »

GuitarStv

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #37 on: November 28, 2014, 05:57:37 AM »
Wasting money and being a mindless consumer is just as silly if it comes from someone who's financially independent.  I don't buy into the argument that it's ever OK to blow money without good reason.  If your lifestyle would drastically change after inheriting a billion dollars, I don't think you've really taken the message of this website to heart.

It's important to question things that you value on a regular basis.  Many times we determine that things are of value at some point in the distant past and get stuck in that mindset.  This type of feeling is often manipulated by advertisers very successfully.  It is difficult to believe that most Rolex owners spend the day taking the back off their watch and staring at the gears turning, but I guess if that's something they value at thousands of dollars . . . more power to 'em.  Personally, I can appreciate the ingenuity of a jet engine without owning one, so maybe the whole concept is just missed on me.

GreenTurtle

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #38 on: November 28, 2014, 08:09:12 AM »

Because looking identical and functioning identically are very different things.

Okay.  So slap the $29 Rolex-looking knock off on your wrist for snob appeal (which is, after all, the primary "function" of a Rolex) and carry a $10 digital watch in your pocket (which will keep time better than a $10,000 precision engineered mechanical Rolex).


Perhaps that's its primary function to you,  but maybe not others... there's this crazy thing called perspective, different people have different ones.    Nobody other than the extremely eagle-eyed would even know what my daily wearer is, and my weekend watch is actually on a $12 nylon nato strap, definitely some snob appeal there!!

Wasting money and being a mindless consumer is just as silly if it comes from someone who's financially independent.  I don't buy into the argument that it's ever OK to blow money without good reason.  If your lifestyle would drastically change after inheriting a billion dollars, I don't think you've really taken the message of this website to heart.

It's important to question things that you value on a regular basis.  Many times we determine that things are of value at some point in the distant past and get stuck in that mindset.  This type of feeling is often manipulated by advertisers very successfully.  It is difficult to believe that most Rolex owners spend the day taking the back off their watch and staring at the gears turning, but I guess if that's something they value at thousands of dollars . . . more power to 'em.  Personally, I can appreciate the ingenuity of a jet engine without owning one, so maybe the whole concept is just missed on me.

Completely agree with you about the billion thing - I just don't happen to agree that in this case it's blown money for no good reason.  I like my watches, they give me the warm fuzzies.  Other people disagree, that's fine.  Other people refusing to admit/acknowledge that there's a world that exists outside their narrow view, not fine. 

Perhaps more in your arena given the username:  my most recent instrument purchase was a Squier VM Fretless Jazz Bass that had a very badly messed up neck for $179.  I fixed the neck via clamps/brute force/reshaping the fingerboard, shielded the entire thing and upgraded the pots... I'm in for $250 and a few hours of work on a bass that I could have just bought for $1000+ if I got the American Fender.  It's all about utility.

GuitarStv

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Re: To buy a Rolex or not to buy a Rolex: that is the question
« Reply #39 on: November 28, 2014, 08:48:09 AM »
I get that you feel the 'warm fuzzies' from your watch.  That's not a good enough reason to buy something though.  Would a different branded mechanical watch that was 2 grand instead of 5 give you the warm fuzzies?  Would one that was 1 grand instead of 5?  Why not one that's 25$?  :P

I really like those Squier VMs BTW, they're great little basses when properly setup.  Neck issues are always a concern with a guitar though, and there's not a lot of wood to shave off for reshaping on a jazz neck.  I'd be interested to see how it turns out.