Advice on saving for a big purchase

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atnits
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Re: Advice on saving for a big purchase

Post by atnits »

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I bought one. I wear it a bit. I don't enjoy it more than other watches I own. Higher value watches I've owned give me no extra pleasure, in fact if anything I enjoy them less than my cheaper ones. I can see the Rolex leaving my stable at some point in the future.

Basically, I've got zero advice.
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kiter65
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Re: Advice on saving for a big purchase

Post by kiter65 »

This is just what I have done, not a recommendation, just worked for me
First off I can’t save, always find something to spend my money on :lol:
Having bought and sold many watches over the years and getting to the point of owning about 20+ watches I decided to sell most of them to purchase a Sub etc
The way I did it was to purchase on credit card, pay some of it off with the funds from the sale of the other watches, then flip the remaining to another card at 0% interest, pay as much off a month you can afford, not minimum amount, so you pay it off before the deal runs out :thumbup:
If deal runs out before you have paid it off, flip to another 0% card :D
If you are buying a Rolex and buy right the chances are you will get your money back if you need to sell in a few years down the line, but this is not guaranteed
Sell your collection and go large :thumbup:
But I would say that, I’m very good at spending other people’s money :lol:
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Re: Advice on saving for a big purchase

Post by 0uatiOW »

The only advice I can give you for a large purchase is to be ruthless. Do not compromise. Unless every single feature of the watch is perfect for you, don’t even consider it.

The dial colour, the lug width, the date window position, the dial wording, the shape of the hands, even the name.

Don’t think “that doesn’t matter” or “I’ll get used to that”. It does, and you won’t. For a more modest purchase you can get away with it, but for a large / expensive one, it may spoil the whole experience for you.
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Martin
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Re: Advice on saving for a big purchase

Post by Martin »

I found looking at the non CW of the day thread daily very useful (over a number of years) in helping to crystallise my likes and dislikes about all aspects of watches. Many were specific: I do not like blobs for hour markers for example, some were more personal and perhaps idiosyncratic: I do not like Rolexes. Eventually, after paying £157 for my C5 Aviator many years ago, I spent thousands on my Seamaster 300. No date, no bracelet, just a simple black face that tells me the time with great accuracy. It has not left the wrist in four years. One thing I learned was that taking a long time (because of the amount involved) was extremely useful in helping me to be sure of my ultimate choice.
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Re: Advice on saving for a big purchase

Post by Murphy20 »

It’s difficult, as there are always lots of temptations, but if you can hold on then I suspect you will end up with a watch for life.
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Re: Advice on saving for a big purchase

Post by missF »

Murphy20 wrote: Sun Jul 31, 2022 5:14 pm It’s difficult, as there are always lots of temptations, but if you can hold on then I suspect you will end up with a watch for life.
Thanks :D

I’m finding this a really interesting conversation. There are as many comments about meaning and emotion behind a ‘big buy’ as there are comments about the nuts and bolts of getting there. I really appreciate both thanks! :thumbup:
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Re: Advice on saving for a big purchase

Post by strapline »

atnits wrote: Sun Jul 31, 2022 1:03 pm I bought one. I wear it a bit. I don't enjoy it more than other watches I own. Higher value watches I've owned give me no extra pleasure, in fact if anything I enjoy them less than my cheaper ones. I can see the Rolex leaving my stable at some point in the future.

Basically, I've got zero advice.
First off what I've highlighted in red should see you two begin a PM exchange. There could be a very amicable transaction in the offing. :lol:

I'm a bit scuppered by this whole watch buying and collecting thing, as well as high end grail acquisitions. I see so many watches on this forum that I really like; but I love the three that I have. They do not have the best movements - two are quartz in fact. They have very little heritage and are not from globally recognised brands. For many reasons that I won't go in to each fulfils me. Clearly I am not a collector and some would say I've set a very low bar but, guess what, they make me very happy and I couldn't imagine flipping them. Sometimes I want to play this crazy game but, I'm sorry to say, for now I can see my money being put to better use.

Hopefully there might be one more watch along life's way, but I can't be sure. I had ambitions to fill my solitary six watch box, but it seems unlikely. Personally I wouldn't borrow money to buy a watch, no matter the interest rate. There's something satisfying about chipping away at a target and seeing it coming closer in to view.

Happiness is a state of mind; it's generally as simple as deciding you're happy and content. While you're saving money focus your attention on the details of the watch that is driving your drive. Let that watch get under your skin and...when it comes to fruition...well, that is gonna feel like nothing else. Good luck with your quest.

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Re: Advice on saving for a big purchase

Post by Amor Vincit Omnia »

It will be interesting if you decide to do this. It is not a road I have gone down because my major acquisitions came to me as a result of money inherited.

However, the desire will need to be as strong at the end of the process as it would appear to be at the beginning. I was contemplating something of a grail for a few years, never got around to saving for it and in the end went off the idea, as the watch was superseded by other things, other watches as well. Conclusion: it probably wasn’t a grail. It certainly wasn’t “the one” if such a thing exists. I wouldn’t do it now because I’ve worked out that, whilst I like watches, they are not that important in the great big scheme of things.
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Re: Advice on saving for a big purchase

Post by Noush »

Some interesting observations here.
My cheeky side says if it is an OP that you have your sights on, then put your name down at an AD and you will have plenty of time to both consider and save. PLENTY.
From my own experience, the idea of the Big Purchase and what that means is really the guts of it. What makes that one special, does it somehow express your journey? Something we share, Lindsey, is that we have certainly been on some kind of journey.

For me the GS Spring Drive also represented a very hard year's work and the overtime that earned it. Not JUST a watch. And gosh I love that thing, the one that I put on my wrist most often, but still plenty to enjoy elsewhere in the watch box(es).
So by no means the be-all end-all and neither should it be. Tonight my Big Eye and still it makes me swoon.

So yeah, chase the dream and stick to it but understand clearly WHY. And then you will.
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Re: Advice on saving for a big purchase

Post by exHowfener »

I've no idea about your financial position, nor should I know. My "advice" (such as it is) would be to put a picture of what you're saving for somewhere where you can see it as a motivator. If you find that looking at it every day increases the desire for ownership, that's great If you get fed up with looking at it and go off the idea, well, you've still got your savings.
I started out with nothing and I still have most of it left
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Re: Advice on saving for a big purchase

Post by nbg »

I haven’t gone down the route of putting money aside to save for a watch, however if I have a particular watch in mind, that is at a price point, other than payable straight from monthly income, I stick to the following approach:
1. if I buy the watch and lose it, but for some reason insurance didn’t cover it, would the loss cause financial difficulty
2. even if intending to sell a watch(es) to partly cover the cost, could I afford to buy without selling, without excessively depleting savings
3. do I still really like the watch, more than others that have caught my eye since first deciding on the original target
4. will I be happy to wear it, without fear of scratching it
5. do I really like it for the right reasons, I.e. would I still buy it if Instagram and watch forums hadn’t been invented
6. am I comfortable that Mrs nbg may want to make a reciprocal purchase of a like amount (it would likely be something we would both benefit from)
7. am I confident that I will wear it as much as other favourite watches.

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Re: Advice on saving for a big purchase

Post by missF »

Noush wrote: Fri Aug 05, 2022 10:57 am So yeah, chase the dream and stick to it but understand clearly WHY. And then you will.
exHowfener wrote: Fri Aug 05, 2022 12:45 pm My "advice" (such as it is) would be to put a picture of what you're saving for somewhere where you can see it as a motivator. If you find that looking at it every day increases the desire for ownership, that's great If you get fed up with looking at it and go off the idea, well, you've still got your savings.
Both interesting posts about motivation to own a watch, and understanding why you want it. Thanks for your thoughts. I think this might be fundamental, so I have some more thinking to do...
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Re: Advice on saving for a big purchase

Post by atnits »

Here are the two watches I've been wearing today. Both were big purchases for me.

Image

The Rolex was a complete impulse buy, which I bought whilst saving for other watches. The Nomos was completely not an impulse buy; I went through many mental hoops over many months before I finally committed to it.

Once the dust had settled and they were both part of the collection, any pre-buying thoughts were long forgotten. I just wasted more brain cells over the Nomos. :thumbup:
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Re: Advice on saving for a big purchase

Post by missF »

nbg wrote: Fri Aug 05, 2022 1:58 pm 5. do I really like it for the right reasons, I.e. would I still buy it if Instagram and watch forums hadn’t been invented
Been thinking about this one. It’s trickier than I thought it would be. It’s easy to say ‘I’m not swayed by public opinion’, but my watch knowledge is based from this forum. So all I can say is - ‘yes - I am swayed by opinion, but there are a lot of trusted opinions here!’ :thumbup: