Advice on saving for a big purchase

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missF
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Advice on saving for a big purchase

Post by missF »

I was just about to order a 36mm white sealander, but something has been holding me back. The money is available and I’m set for an impulse buy, but my gut has a different idea. I think that what I really want (what I’d love) is something more like this:
2253C6F9-5452-40CE-AD00-C5D3D3EDE0F4.jpeg
Please help with any advice. Have you saved for several years for one particular watch, and achieved your aim? Or did a different watch (or watches) distract you from your goal? For someone who does impulse buying pretty successfully how can I keep my eye on the prize??

Ta! :D
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Re: Advice on saving for a big purchase

Post by golfjunky »

Aim high and be as tough on yourself as you can. The reward is worth it
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Re: Advice on saving for a big purchase

Post by Danbailey007 »

After starting off my watch journey with a CW another quickly followed along with some Elliot Brown in and outs (thanks to Guy!).

My eye had always been drawn to an Omega as I wanted a proper/serious/expensive watch so was always on the lookout for a Seamaster Pro until one day while just browsing a high street a white dial aqua terra caught my eye. Unfortunately it was sold by the time I went back so I tried the Seamaster Pro but it didn't appeal as much as I thought it would.

Fast forward a couple of months I decided to finally treat myself so booked a visit to my local AD and after trying a few different watches purchased the AT I constantly wear now!

I'd been saving for a while as I knew it's what I wanted, I was tempted with a few others along the way and being on this forum doesn't help! I stuck to my guns though and knew that tucking money away each month would get me where I wanted to be. Selling a few pieces also helped.

Good luck on your journey, I think if the Rolex is something you really desire you need to resist the temptation to impulse buy something similar (inferior?) Unless you think you can move it on once you obtain the piece you want.
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Re: Advice on saving for a big purchase

Post by golfjunky »

And remembers Downers rules
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Re: Advice on saving for a big purchase

Post by missF »

Danbailey007 wrote: Sun Jul 31, 2022 10:09 am you need to resist the temptation to impulse buy something similar (inferior?)
Thanks for your thoughts. I think this quote is very valuable :thumbup:
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Re: Advice on saving for a big purchase

Post by robert75 »

I have a black dial 6694 they have gone up in price like all Rolex but not so much that its excessive, what I am saying is while you are saving your funds you are not going to suddenly find you have to add on another several hundred pounds just when you thought you have reached your goal. One thing I would say though is like all Rolex please be careful of what you buy. I have seen some terrible after market dial oyster dates not to mention their condition. Pay a bit more from a trusted seller and get the thing serviced as soon as possible rather than buy cheap and regret later.

As for saving, you will no doubt get plenty of joy from the "cheaper" watch but it will never be the one you really want and probably end up buying several lesser watches that will all add up to the price you could have paid for the one you wanted.

Best advice would be enjoy the watches you already have while you save up for the next one you really want. Its all very nice having a collection but if they are a collection of watch regrets that you end up selling at a loss not so much.
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Re: Advice on saving for a big purchase

Post by suicidal_orange »

I've never saved for anything for one reason - I could get hit by a bus tomorrow and I'd rather die having enjoyed my money than have it sat in the bank.

If I were to save for something it wouldn't be from a company so disrespectful as to allow any of their dealers to make customers to turn up at a moments notice months/years after playing games to get on a waiting list, nor would it be for a watch with no standout features besides a coveted badge up top and an excessive amount of dial text. You're about the visuals not the internals, as am I.

Pretty sure you have fallen out of love with every watch you've owned, do you really want to restrict yourself to only going through that cycle once a year (or more?) while saving when you could go through 2 or 3 watches in that time?
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Re: Advice on saving for a big purchase

Post by robert75 »

suicidal_orange wrote: Sun Jul 31, 2022 10:28 am I've never saved for anything for one reason - I could get hit by a bus tomorrow and I'd rather die having enjoyed my money than have it sat in the bank.

If I were to save for something it wouldn't be from a company so disrespectful as to allow any of their dealers to make customers to turn up at a moments notice months/years after playing games to get on a waiting list, nor would it be for a watch with no standout features besides a coveted badge up top and an excessive amount of dial text. You're about the visuals not the internals, as am I.

Pretty sure you have fallen out of love with every watch you've owned, do you really want to restrict yourself to only going through that cycle once a year (or more?) while saving when you could go through 2 or 3 watches in that time?
Is the OP not looking at a vintage watch rather than a new one? No waiting lists or the like for that watch they are pretty common and easy to purchase.
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Re: Advice on saving for a big purchase

Post by missF »

suicidal_orange wrote: Sun Jul 31, 2022 10:28 am Pretty sure you have fallen out of love with every watch you've owned, do you really want to restrict yourself to only going through that cycle once a year (or more?) while saving when you could go through 2 or 3 watches in that time?
This is interesting. I definitely in recent years have bought and sold often, and I’d consider that a phase, and not a place I’m interested in being in forever. It’s been a phase of trying this and that, experimenting with my collection, seeing what’s out there and what I like wearing.
So no, I think I’m starting to get past that. When I look at the main watches that I wear (5 of them) I’m really happy to choose between them and not hanker after the next experiment.

Of course, this can all change quickly for intangible reasons! :thumbup:
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Re: Advice on saving for a big purchase

Post by iain »

I saved to get my first mechanical watch, a Tag Aquaracer, and I did it again when I bought my IWC MKXVIII.

The Tag was quite straightforward. I wanted a nice watch, saved up and bought it. Before that I was used to buying a new watch every few years when one finally died. I wasn’t used to the now familiar distraction of buying other watches to steer me from the path I was on.

The IWC was different though, I did keep getting sidetracked along the way and bought a few CW watches while saving. However I later sold them to help fund the IWC so it was almost like they were money in the bank rather than a watch. It took a few years to get there and I also sold some music gear to help get me over the line.

It was worth it as it has become my longest ever serving watch at now over 6 years old. One tip when viewing other watches is to keep your grail in mind and always compare it to those you are looking at. If you ask yourself “would I give up on ever owning this, to get this now?” You will find out how much you really want that Rolex.
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Re: Advice on saving for a big purchase

Post by missF »

iain wrote: Sun Jul 31, 2022 10:49 am One tip when viewing other watches is to keep your grail in mind and always compare it to those you are looking at. If you ask yourself “would I give up on ever owning this, to get this now?” You will find out how much you really want that Rolex.
Thanks. I think it takes time over the years to learn to make those comparisons. You have to have learned what you like to look at, what you physically are comfortable with, how you feel emotionally about different watches etc. I’ve learned a lot from the forum and from my own experiments
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Re: Advice on saving for a big purchase

Post by Mikkei4 »

As good as CW watches are there are many (all?) of us that own or want to own a watch from a higher level of brand, whatever brand we might consider that to be.

For me it wasn’t so much saving for a purchase but that any potential purchase had to be justifiable in terms of the price, timing and long term desirability of the watch being considered.

Maybe I’m reading more into your words than you mean but I’ve cut and pasted what I think is a pertinent part of your post……”I think that what I really want (what I’d love) is something more like this”.

Is there still indecision there whether this is really what you want to do and is an older Rolex as shown the ultimate aim or just an example of what you might want?

Once you know what you want (brand, new or old etc) instead of saving maybe consider 0% interest options available at ADs and re-sellers or get a 0% credit card so you can get the watch straight away and pay off the amount per month that you would have been putting away for a future purchase. I realize and accept that not everybody will think this is the right way to pay for a purchase but the type of watches you are possibly considering don’t appear to be getting cheaper.
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Re: Advice on saving for a big purchase

Post by CBMVic20 »

Here's a question; substitute the watch for another big purchase like a house or car. Would your approach differ? Is there a preference for a longer term "save for what you want" or the shorter term "buy what you can get now"?

I don't think there's anything wrong with the shorter term approach, that's part of the journey to figure out what you like. What if you saved longer term for the grail and it didn't meet the expectation? Could say the same for the short term approach too; there's a nagging doubt that what you have bought is a compromise for the end game.

Maybe it would help if you went to see the watch and tried it on. FWIW, I've been through this this too :)
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Re: Advice on saving for a big purchase

Post by robert75 »

CBMVic20 wrote: Sun Jul 31, 2022 12:24 pm

Maybe it would help if you went to see the watch and tried it on. FWIW, I've been through this this too :)
Completely agree with this, the amount of times I have seen a watch online and wanted to purchase only to see it in a shop and think "Is that it?"

OP is it possible to try the watch on you want before you buy, are there any dealers near you?
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Re: Advice on saving for a big purchase

Post by missF »

robert75 wrote: Sun Jul 31, 2022 12:32 pm
CBMVic20 wrote: Sun Jul 31, 2022 12:24 pm

Maybe it would help if you went to see the watch and tried it on. FWIW, I've been through this this too :)
Completely agree with this, the amount of times I have seen a watch online and wanted to purchase only to see it in a shop and think "Is that it?"

OP is it possible to try the watch on you want before you buy, are there any dealers near you?
I absolutely agree. And when the time comes I’ll shop from vintage dealers. Not just regular ADs who happen to have a few vintage models. Ask lots of questions. Mostly I think ‘I’ll know it when I see it’