Quote:
Originally Posted by Cool Steal
Really? Watches....?
Honestly, I have been a financial advisor for 25 years and performance car junkie...  ...as your financial planner I recommend you save your money and stop wasting it on 1 to 3k watches....
If your going to waste your money....at least waste it on mods...  thats what I used to do....
Scratched up Ironman Triathlon Timex.... |
I know you are joking around, but oddly enough I just had this same conversation with a client the other day (I’m also an advisor).
If you’re going to buy a watch, either spend good money on it, or spend $50 on it.
A $50 watch can be broken or lost and in the worst case, it cost you $50.
A $5000 Rolex Submariner may cost a lot of money, but quality timepieces will likely continue to appreciate in value. If you keep that watch for 5 years and sell it for $8000, you made $3000 on the deal.
However, a $1000 Movado is still an overpriced Quartz watch. The day you buy it, it’s worth at most 70% of the value. In 5 years after it has seen some use, you’ll be lucky to retain 50% of your money. In short, that watch cost you more money than the $50 or $5000 watch.