Rolex experience?

[athena53]

Wow- I just looked up mine on e-Bay and it would go for far less than I paid for it, not to mention what I've paid to maintain it. Well, I never claimed any of my jewelry was an investment.

Just out of curiosity, I tried to find the Jaeger-le-Coultre moonphase watch my Ex bought in the mid-1980s for about $7,000. Not sure which model he had (other than it was 18k gold with a leather strap), but that may have appreciated. Sadly, he sold it when things got bad. Even that watch hasn't appreciated as much as the S&P 500 (it was 171 in January, 1985!), even if you ignore what he would have paid to maintain it over the years.

Yeah, I'll keep the Rolex but I'm done with buying fancy watches.

 

[OldShooter]

I’m looking to drop a few thousand on a couple of used Rolex’s, I see older date adjusts and air kings going for around $2k that are in nice condition.

My reason for purchase is not for show and tell, I will wear mine but the purpose of the purchase is not so much for investment but preservation of the outlay of cash. I’ve always heard Rolex’s hold their value, just curious if there are any first hand experience here with these really holding value. that is all I’m expecting from the purchase, things that appreciate rather than depreciate peak my interest

For your stated goal, TIPS are a far better choice. If you just want to rationalize a toy any story will do. Or no story at all. Just sayin'

 

[athena53]

My previous employer had a tradition of awarding a Rolex to every employee, regardless of rank, at the ten-year mark. (I lasted 18 months.) They provided a basic 18k-gold and steel version but you could upgrade at your own expense if you wanted a diamond bezel or other extras. The executives tended to wear theirs but many of the rank-and-file didn't. I made sure my coworkers heard my cautionary tale about what happens if you wear it too often in chlorinated water.

I wonder how many of them ended up in drawers after they stopped running (which they'll do after 3-5 years without any maintenance) and the owner didn't want to spend the bucks to get them fixed.

 

[ShokWaveRider]

I have had 3, 1 Two tone Sub I purchased in 1991, 1 All Gold Daytona I bought in 1995 and my current TT Blue Face Sub. I sold the first sub to buy the Daytona, decided I did not really like the Daytona, and sold it to get my current sub. Both sold at more than what I paid for them, the sub made 30% more than the Daytona. I have had my current Sub since 2000. My Wife has a 20 year Old Ladies TT Oyster Perpetual custom that I got for her on her 40th Birthday, she refused to change it. All were bought new. We are happy with our current Rolex's and as mentioned they do not keep perfect time on the long haul but do hold and increase in value.

 

[NYEXPAT]

I have a Kreiger and a Breitling and bought the ex a Rolex years ago. All nice, but I stopped wearing a watch years ago and will give them to my sons.

My current wife hates jewelry, wich is great for me.

A few years ago a friend came to visit with one of his Wives (lives in Dubai and has three wives currently). We were sitting in a cafe and my Wife commented on how pretty her gold and diamond Rolex was. She said thank you and asked my wife if she had one. My Wife said no and the other women said she had 25 Rolexes and the next time she came she would give her one.

A few months ago my friend invited my family to come stay with him for a month, We could stay in one of his house's and would have the use of his Range Rover and driver while there. I mentioned it to my Wife and she said great, I can pick up my Rolex. Looked online and economy class tickets were $17,000!

 

[HighOnLife]

My opinion on accumulating "stuff" for potential long-term value is only do it if the object has personal meaning for you. That is the real value of those things. Otherwise, it becomes expensive clutter that you have to live with & refuse to part with since "it might be worth something someday"... This comes from a few years in the fine art trade. Luxury items might hold their value, but it is a crap shoot and markets change, plus consignment fees and maintenance might come into play. But if it enhances your life and you are in the market for a collectable timepiece that you can resell when done, then go for it!

 

[ShokWaveRider]

My opinion on accumulating "stuff" for potential long-term value is only do it if the object has personal meaning for you. That is the real value of those things. Otherwise, it becomes expensive clutter that you have to live with & refuse to part with since "it might be worth something someday"... This comes from a few years in the fine art trade. Luxury items might hold their value, but it is a crap shoot and markets change, plus consignment fees and maintenance might come into play. But if it enhances your life and you are in the market for a collectable timepiece that you can resell when done, then go for it!

What a bout if you Like it? Once retired are we not allowed to purchase extravagant items if we like to, assuming one can afford to? What after all did we work for? I like My Rolex, My Wife likes hers, they are our only watches.

Just because we retired early, does not mean we "all" need to retreat into a cocoon of frugality.

 

[Yarnstormer]

I still have the rolex my parents gave me in the 80s. It has survived much including a run through the washing machine. I have trouble keeping it going now as I don’t put it on every morning. It is a little quirky on time, and has to be adjusted to run well without losing a couple of minutes a month. Very pricey to have the big maintenance done which I waited 14 years to do the first time. !!

 

[HighOnLife]

What a bout if you Like it? Once retired are we not allowed to purchase extravagant items if we like to, assuming one can afford to? What after all did we work for? I like My Rolex, My Wife likes hers, they are our only watches.

Just because we retired early, does not mean we "all" need to retreat into a cocoon of frugality.

Im saying i would only do this (consider luxury goods or collectibles an investment) if it added value to my life, ie i like it. I would buy x if it speaks to me and adds value to my life, but speculative hoarding is another matter. Just my thoughts. I've known collectors sitting on many thousands of dollars in rare items, to see markets disappear and their entire investment worth nothing.

If you buy a painting just because it may hold its value or the artist recently died, etc. then what's the point? Especially as unpredictable as those markets are--and if it needs that as a selling point in order to convince a buyer then that is already a red flag. But if it greatly enhances the quality of my life, then I haven't overpaid almost no matter what I spend on it. It's my experience from the fine art trade. Probably Rolexes have a more predictable space in the luxury goods market.

 

[Scrapr]

Wasn't me... But close.

your wife didn't rat you out? LOL

If I came across a street seller w/Rolex watches I "might" throw down a few American dollars. I'd flash it, take it off and complain about how heavy it is, etc. Just to make my friends ask...izzat real?

Does that make me a bad person?

 

[zinger1457]

Never owned a Rolex but always thought that they must be high quality timepieces considering the cost but from the response of owners in this thread that doesn't seem to be the case.

 

[folivier]

Never owned a Rolex but always thought that they must be high quality timepieces considering the cost but from the response of owners in this thread that doesn't seem to be the case.

They are high quality timepieces, but like a lot of luxury items they do require maintenance. But it's important to note that they will still work well without the maintenance. At least mine did.

 

[ShokWaveRider]

They are high quality timepieces, but like a lot of luxury items they do require maintenance. But it's important to note that they will still work well without the maintenance. At least mine did.

Remember they are fully mechanical. They do run down in a couple of days if not worn. a lot of the auto winders do not have an acute enough angle to keep them going as they are a heavy watch by comparison. They are like anything else (Think of your DH, DW, BF or GF ), Their faults are greatly outweighed by their good traits.

 

[Texas Proud]

Never owned a Rolex but always thought that they must be high quality timepieces considering the cost but from the response of owners in this thread that doesn't seem to be the case.

They are high quality timepieces.... but an electronic quartz is much more accurate and much cheaper...

A Rolex is a status item... I do not care for any kind of status item that does not fit in with what I want without it being a status item... right now none seem to grab me at all....

 

[ERD50]

Never owned a Rolex but always thought that they must be high quality timepieces considering the cost but from the response of owners in this thread that doesn't seem to be the case.

Well, the majority of these Rolex models are sophisticated mechanical movements. The engineering is very impressive. But even the best mechanical watch movements do not keep time as accurately as a modern, cheap quartz watch. And the precise mechanics require maintenance.

People buy them partially just to admire the precision and craftsmanship that goes into them.

A modern cheap quartz watch is really a modern miracle of value. I admire it for that! A cheap mass produced quartz crystal (essentially the 'pendulum' of a quartz clock) can be made very cheaply (probably pennies in quantity), and just due to the nature of the process, the cheapest ones have an accuracy of ~ 200ppm. And the drift is far less, and the initial accuracy can be adjusted to get very close. You are basically at the point where if you have to set the time 2x/year for DST, or every 12-18 months to change the battery, you probably won't be more than ~ 1 minute off. That's as good as anyone practically needs on their wrist. This signal is used to drive the movement of the hands or change the display of an LED/LCD.

A mechanical wrist watch at any price just cannot match that $10 quartz watch for accuracy.

-ERD50

 

[frayne]

I have no use for watches and retired mine June of 2005 when I retired. With phones and other electronics these days there is simply no need for the utility of a watch. For those who collect and see them as a status symbol that is great, just not my thing. To the OP, I'd rather drop $2K on a trip to St. Andrews and a golf experience but to each his own.

 

[ChiliPepr]

I’m open to any brand that will hold value, Rolex and Harley Davidson come to my mind when I think of holding value.

Don't know where you heard Harley's hold their value, but outside of antiques and back in the nineties when supply was much lower than demand, they do not hold their value more than any other motor vehicle.

 

[97guns]

After reading reply’s I think I’m better off storing my money in gold live I’ve been doing. I was put off with the inability of them to keep accurate time, I was under the impression that it should run like a Swiss watch as the old saying goes.

 

[Breedlove]

There is an internet club for counterfit high end watches

 

[aja8888]

There is an internet club for counterfit high end watches

A friend of mine that is a serious watch collector told me that some of the high end knock offs are so good that even watch dealers have difficulty determining they are not genuine. They even counterfeit the paperwork that comes with the watch.

 

[FireBug]

your wife didn't rat you out? LOL

I'm thinking Senator's 'story' would have been told with a Queen rather than a King

 

[gerntz]

My Rolodex spins just fine.

 

[lwp2017]

If I were buying, I would wait until the next downturn. I suspect art, watches and other used high end discretionary luxury goods have wide price swings based on where we are in the economic cycle.

So true, buy collectibles and big boy toys like collectible cars on a market down turn.

In 2008-2009 I had good bonus each year and bought a few transferable machine guns at fire sale prices.

As an example, five years layer I sold a HK MP5-SD at 350% of its purchase price.

I knew what I was doing after years of research and following the collectible market. I just wish I would have had more financial courage to buy more.

Watches - I wear a $30 Timex Indiglo since they were first sold.