Boglehead topic best watch for $5000

Other discussions not related to the Permanent Portfolio

Moderator: Global Moderator

Post Reply
steve
Executive Member
Executive Member
Posts: 264
Joined: Mon Jul 26, 2010 2:06 pm

Boglehead topic best watch for $5000

Post by steve » Sat Apr 14, 2012 9:26 am

I know that if you argue with a fool you are a bigger fool. Sometimes I look in the mirror and see the bigger fool.
This is going on 12 pages now and it is strictly for entertainment. The permanent portfolio gets its mention.
http://www.bogleheads.org/forum/viewtop ... 11&t=27707
Reub
Executive Member
Executive Member
Posts: 3158
Joined: Fri Jan 21, 2011 5:44 pm

Re: Boglehead topic best watch for $5000

Post by Reub » Sat Apr 14, 2012 10:56 am

That is really hilarious!
User avatar
craigr
Administrator
Administrator
Posts: 2540
Joined: Sun Apr 25, 2010 9:26 pm

Re: Boglehead topic best watch for $5000

Post by craigr » Sat Apr 14, 2012 3:36 pm

Funny thing about that thread is I used to think a decent watch is not a great way to spend money, you just do it because you want one. But then I ran the numbers back on some common brands (Rolex and Omega) and found out that in many cases they would simply mirror inflation. Each year for instance Omega raises prices, they don't lower them. So depending on the watch you buy and how long you hold it, it could likely track inflation. In other words, it's kind of like an inflation adjusted asset you wear on your wrist. In terms of purchases (TV, cars, golf clubs, etc.) a decent Swiss watch actually isn't a bad way to spend your money if you really felt like you wanted one.

The second part is you get all these people holding up their noses at an expensive watch. But, if you asked them to list their hobbies and interests (TV, cars, boats, fishing, golf, etc.) that there is going to be something for others to be critical of how they use their money that are just as expensive in aggregate. So in my opinion, spend your money on what makes you happy. As along as you are responsible with how you spend, then it shouldn't matter what other people think about it.
Last edited by craigr on Sat Apr 14, 2012 3:39 pm, edited 1 time in total.
User avatar
MediumTex
Administrator
Administrator
Posts: 9096
Joined: Sun Apr 25, 2010 11:47 pm
Contact:

Re: Boglehead topic best watch for $5000

Post by MediumTex » Sat Apr 14, 2012 11:14 pm

I own three nice watches:

1. A Rolex I bought in 1990

2. An Omega I bought in 1991

3. An Omega I bought in 1997

Although I bought all three of them just because I liked them, I have been amazed at how much the prices on them have gone up since I bought them.

Of the three, I wear the 1997 Omega 90% of the time.  I have gotten far more enjoyment from it than from many purchases I have made over the years of similar size.  It still basically looks brand new.  If I lost it or it broke tomorrow I would probably go buy another one just like it.
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
User avatar
lazyboy
Executive Member
Executive Member
Posts: 299
Joined: Wed Aug 24, 2011 4:04 pm

Re: Boglehead topic best watch for $5000

Post by lazyboy » Sun Apr 15, 2012 1:05 am

In past years, I've usually bought inexpensive watches mainly because when I worked outside I was usually banging them around too much to consider buying anything else. A few years ago, my sweetheart wanted to upgrade my watches and bought me two over a two year period as presents. I helped picked one out that I thought fit me as a dress up watch- a  nice Bulova and the other a she picked out for me- a Swiss Army watch. The one she chose I like the best and wear it proudly. It looks  good and I highly value it as her gift and personal choice for me.  
A friend, who since has passed, was a collector of old sports cars and let me drive his 1969 Jaguar XKE Coupe. His car collection was sort of like his IRA and he had room enough to store them in a barn. He'd get one and restore it when he had time. One day we rallied over the hills and back roads of coastal Northern California. He drove his vintage 60's Corvette and I drove the E. Wherever we stopped people would come up and admire this beautiful piece of automotive sculpture. It was also still lots of fun to drive. Now, I think something like that would be a nice addition to a variable portfolio.  ;)
http://www.classic-car-history.com/jaguar-xke-etype.htm
Last edited by lazyboy on Sun Apr 15, 2012 1:07 am, edited 1 time in total.
Inside of me there are two dogs. One is mean and evil and the other is good and they fight each other all the time. When asked which one wins I answer, the one I feed the most.�

Sitting Bull
hoost
Executive Member
Executive Member
Posts: 422
Joined: Thu Mar 01, 2012 11:24 pm
Location: Texas

Re: Boglehead topic best watch for $5000

Post by hoost » Sun Apr 15, 2012 9:17 am

lazyboy wrote: In past years, I've usually bought inexpensive watches mainly because when I worked outside I was usually banging them around too much to consider buying anything else. A few years ago, my sweetheart wanted to upgrade my watches and bought me two over a two year period as presents. I helped picked one out that I thought fit me as a dress up watch- a  nice Bulova and the other a she picked out for me- a Swiss Army watch. The one she chose I like the best and wear it proudly. It looks  good and I highly value it as her gift and personal choice for me.  
A friend, who since has passed, was a collector of old sports cars and let me drive his 1969 Jaguar XKE Coupe. His car collection was sort of like his IRA and he had room enough to store them in a barn. He'd get one and restore it when he had time. One day we rallied over the hills and back roads of coastal Northern California. He drove his vintage 60's Corvette and I drove the E. Wherever we stopped people would come up and admire this beautiful piece of automotive sculpture. It was also still lots of fun to drive. Now, I think something like that would be a nice addition to a variable portfolio.  ;)
http://www.classic-car-history.com/jaguar-xke-etype.htm
While I'm a fan of both watches and cars, I think it's dangerous to think of them as investments in general.  It might lead you to spend more than is wise (for your situation) on consumption items.  I think it's best to think of them the same way HB recommends you think of your house or any other collectors item.  That doesn't mean it's wrong to buy them; it's just a different mindset to hopefully keep you from putting money you can't afford to lose into "consumption" items.

That being said, I guess it could be possible to speculate in classic cars and watches or any other collectible; perhaps you'd buy something at a good price at an estate sale or something and resell it elsewhere for considerably more. But again, you'd want to make sure it's money you can afford to lose.
rhymenocerous
Executive Member
Executive Member
Posts: 153
Joined: Wed May 11, 2011 2:47 pm

Re: Boglehead topic best watch for $5000

Post by rhymenocerous » Sun Apr 15, 2012 10:53 am

I was walking in the mall one day and passed by a watch store.  They always do their best to hide the price tags on the window displays, but I noticed a Patek Philippe with the tag sticking out a little.  My jaw dropped when I saw it was $4k.  I had never seen a watch that expensive before.  A few days later I was walking by the same store.  I went to see the $4k watch again and noticed that the price tag was moved even further.  I had missed a 0, and the watch was actually $40k!
Alanw
Executive Member
Executive Member
Posts: 279
Joined: Fri Jan 06, 2012 11:05 am

Re: Boglehead topic best watch for $5000

Post by Alanw » Sun Apr 15, 2012 12:42 pm

I own two watches.

1. Rolex

2. Tag Heuer

My Rolex stays in a drawer 99% of the time as I only wear it on special occassions and then am not sure why I put it on.  But still a beautiful watch.

I wear my Tag nearly all of the time.  It is a much more sporty watch and gives me the feel that I like.  It also has the appearance of beint indestructible.  Also, very low maintenance.
User avatar
lazyboy
Executive Member
Executive Member
Posts: 299
Joined: Wed Aug 24, 2011 4:04 pm

Re: Boglehead topic best watch for $5000

Post by lazyboy » Sun Apr 15, 2012 3:17 pm

hoost wrote:
lazyboy wrote: In past years, I've usually bought inexpensive watches mainly because when I worked outside I was usually banging them around too much to consider buying anything else. A few years ago, my sweetheart wanted to upgrade my watches and bought me two over a two year period as presents. I helped picked one out that I thought fit me as a dress up watch- a  nice Bulova and the other a she picked out for me- a Swiss Army watch. The one she chose I like the best and wear it proudly. It looks  good and I highly value it as her gift and personal choice for me.  
A friend, who since has passed, was a collector of old sports cars and let me drive his 1969 Jaguar XKE Coupe. His car collection was sort of like his IRA and he had room enough to store them in a barn. He'd get one and restore it when he had time. One day we rallied over the hills and back roads of coastal Northern California. He drove his vintage 60's Corvette and I drove the E. Wherever we stopped people would come up and admire this beautiful piece of automotive sculpture. It was also still lots of fun to drive. Now, I think something like that would be a nice addition to a variable portfolio.  ;)
http://www.classic-car-history.com/jaguar-xke-etype.htm


While I'm a fan of both watches and cars, I think it's dangerous to think of them as investments in general.  It might lead you to spend more than is wise (for your situation) on consumption items.  I think it's best to think of them the same way HB recommends you think of your house or any other collectors item.  That doesn't mean it's wrong to buy them; it's just a different mindset to hopefully keep you from putting money you can't afford to lose into "consumption" items.

That being said, I guess it could be possible to speculate in classic cars and watches or any other collectible; perhaps you'd buy something at a good price at an estate sale or something and resell it elsewhere for considerably more. But again, you'd want to make sure it's money you can afford to lose.
Thanks, hoost, I agree. I wasn't seriously thinking of buying an XKE as a core investment. But in a sense, that's what my late friend did, collecting classic sport cars as a hobby instead of investing in stocks, bonds and gold. And since he's no longer here and life, after all, is impermanent, it may have been the best choice for him- to  following his bliss.  If I had the extra cash and room to store it, though, beyond my core perm. portfolio, buying a beautiful sports car could serve the dual purpose making me happy and appreciating in value. Right now I get to appreciate the memory of it without the expense of owning it.
Inside of me there are two dogs. One is mean and evil and the other is good and they fight each other all the time. When asked which one wins I answer, the one I feed the most.�

Sitting Bull
User avatar
Ad Orientem
Executive Member
Executive Member
Posts: 3483
Joined: Sun Aug 14, 2011 2:47 pm
Location: Florida USA
Contact:

Re: Boglehead topic best watch for $5000

Post by Ad Orientem » Mon Apr 16, 2012 8:41 pm

The great Russian watch scandal (doesn't everyone need a $30,000 watch to keep time?)...

Image
MOSCOW — Russia is abuzz with talk of the Orthodox Church’s wealth and its close links to the Kremlin after an expensive watch was seemingly airbrushed from the wrist of the church’s patriarch in a website picture.

Bloggers earlier this week spotted the photo of Patriarch Kirill on the church’s website, but by Thursday it appeared editors had doctored the image, erasing the watch but failing to get rid of its reflection.

Reacting to public indignation, the patriarch’s office promptly apologized for “a mistake”? of an employee and promised “severe punishment”? for the culprit.

Prominent Orthodox followers have lambasted the church for the incident, including anti-corruption activist Alexei Navalny who said it was “shameful.”? Many others have questioned if it was appropriate for a man of the cloth to own such expensive things.
Read the rest here.

Disclaimer: I am Orthodox and this is frankly embarrassing.  I had almost forgotten about it though when I stumbled on this thread.
Trumpism is not a philosophy or a movement. It's a cult.
User avatar
foglifter
Executive Member
Executive Member
Posts: 634
Joined: Tue Apr 27, 2010 5:37 pm
Location: The Golden State

Re: Boglehead topic best watch for $5000

Post by foglifter » Fri Apr 20, 2012 2:34 am

Ad Orientem wrote: The great Russian watch scandal (doesn't everyone need a $30,000 watch to keep time?)...
MOSCOW — Russia is abuzz with talk of the Orthodox Church’s wealth and its close links to the Kremlin after an expensive watch was seemingly airbrushed from the wrist of the church’s patriarch in a website picture.

Bloggers earlier this week spotted the photo of Patriarch Kirill on the church’s website, but by Thursday it appeared editors had doctored the image, erasing the watch but failing to get rid of its reflection.

Reacting to public indignation, the patriarch’s office promptly apologized for “a mistake”? of an employee and promised “severe punishment”? for the culprit.

Prominent Orthodox followers have lambasted the church for the incident, including anti-corruption activist Alexei Navalny who said it was “shameful.”? Many others have questioned if it was appropriate for a man of the cloth to own such expensive things.
Read the rest here.

Disclaimer: I am Orthodox and this is frankly embarrassing.  I had almost forgotten about it though when I stumbled on this thread.
Well, given that Russian Orthodox Church turned out to be the biggest importer of alcohol and tobacco in the 90s the Patriarchs don't have a money problem when it comes to buying expensive watches or luxury cars. The way it worked was the church was granted lower import tax cuts and all private companies used the church as an "umbrella" to execute the import contracts.

Interestingly, Putin's $60,000 Patek Philippe is more expensive than Kirill's Breguet - perhaps the Patriarch can't have a watch more expensive than the President's. Subordination?  ;)

Here's another interesting read: Putin gave away his watch to a worker.
"Let every man divide his money into three parts, and invest a third in land, a third in business, and a third let him keep in reserve."
- Talmud
steve
Executive Member
Executive Member
Posts: 264
Joined: Mon Jul 26, 2010 2:06 pm

Re: Boglehead topic best watch for $5000

Post by steve » Fri Apr 20, 2012 8:58 pm

Have Rolex's always cost what they do now?
My Rolex Submariner example:  Rolex Submariner ND retails for $5,825 in 2010, cost $355 in 1975. However, the $5,825 it cost to buy the watch at the 2010 price was equivalent to $1,438.05 in 1975, according to the calculator


http://www.minus4plus6.com/PriceEvolution.htm

Inflation Calculator
http://www.dollartimes.com/calculators/inflation.htm
User avatar
ochotona
Executive Member
Executive Member
Posts: 3353
Joined: Fri Jan 30, 2015 5:54 am

Re: Boglehead topic best watch for $5000

Post by ochotona » Mon Sep 30, 2019 8:40 am

Resurrecting a long-dead thread. I'm tempted to go buy a Rolex. What do current forum participants think? Do the Rolex values keep pace with inflation?
User avatar
dualstow
Executive Member
Executive Member
Posts: 14233
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: Boglehead topic best watch for $5000

Post by dualstow » Mon Sep 30, 2019 8:45 am

ochotona wrote:
Mon Sep 30, 2019 8:40 am
Resurrecting a long-dead thread. I'm tempted to go buy a Rolex. What do current forum participants think? Do the Rolex values keep pace with inflation?
Hah! i remember that thread! (But not this pp thread talking about it. Very interesting). Thank you for digging it up.
Can’t help you though, because I’ve never owned a Rolex- not a real one. I mostly have those cheap Timex Campers, and one “expensive” one, $100 because of the scratch-proof sapphire face.

Please don’t buy one encrusted with gems. I think it takes away from the beauty of the watch. Painting eyes on the dragon.
Sam Bankman-Fried sentenced to 25 years
User avatar
drumminj
Executive Member
Executive Member
Posts: 319
Joined: Wed Jul 22, 2015 9:16 pm

Re: Boglehead topic best watch for $5000

Post by drumminj » Mon Sep 30, 2019 10:56 am

Rolex prices have gone up quite a bit lately on the secondary market due to low availability at authorized dealers. Not sure that makes for a good time to buy unless you're just looking to enjoy the watch.

Check out rolexforums.com and all the posts about lack of stock, wait lists, etc.

Fwiw, I own a Rolex explorer (bought 5 years ago), an Omega, and a Nomos. I enjoy watches as a hobby. Would love to buy another (Tudor black bay 58 or maybe a Rolex turn-o-graph) but I'm not in a rush.
User avatar
jhogue
Executive Member
Executive Member
Posts: 755
Joined: Wed Jun 28, 2017 10:47 am

Re: Boglehead topic best watch for $5000

Post by jhogue » Mon Sep 30, 2019 11:03 am

My wife bought a Rolex for me more than 30 years ago as a wedding present. I wear it almost every day. She also bought a Rolex for herself at the same time. Hers is solid gold; mine is mostly stainless steel. She rarely wears hers. It mostly sits in the safe deposit box next to our stack of I-bonds (which also automatically adjusts for inflation).

An additional factor to consider is the cost of periodic maintenance. I get my Rolex cleaned and serviced every 10 years or so. I thought it was expensive to take it to an authorized dealer the first time. At 20 years, I discovered that a good local jewelry store can do it for less than the authorized dealer and might advise you to service it only when it stops running.
“Groucho Marx wrote:
A stock trader asked him, "Groucho, where do you put all your money?" Groucho was said to have replied, "In Treasury bonds", and the trader said, "You can't make much money on those." Groucho said, "You can if you have enough of them!"
User avatar
Ad Orientem
Executive Member
Executive Member
Posts: 3483
Joined: Sun Aug 14, 2011 2:47 pm
Location: Florida USA
Contact:

Re: Boglehead topic best watch for $5000

Post by Ad Orientem » Mon Sep 30, 2019 12:09 pm

ochotona wrote:
Mon Sep 30, 2019 8:40 am
Resurrecting a long-dead thread. I'm tempted to go buy a Rolex. What do current forum participants think? Do the Rolex values keep pace with inflation?

Rolex Watches: Are They Worth It? Men's Watch Review...
https://youtu.be/che9Q_hQ3Lo

I subscribe to this guy's channel and find much of his commentary to be both interesting and (IMO) generally solid. He's also something of a sartorial snob which I find refreshing in the modern world where there seems to be no such thing as "too casual." That said, I'm a pocket watch guy so I have no strong personal opinions on trench watches.
User avatar
Kriegsspiel
Executive Member
Executive Member
Posts: 4052
Joined: Sun Sep 16, 2012 5:28 pm

Re: Boglehead topic best watch for $5000

Post by Kriegsspiel » Mon Sep 30, 2019 12:21 pm

I remember Tynan wrote a pretty detailed post about Rolexes and how to buy them.
You there, Ephialtes. May you live forever.
User avatar
dualstow
Executive Member
Executive Member
Posts: 14233
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: Boglehead topic best watch for $5000

Post by dualstow » Mon Sep 30, 2019 1:30 pm

If you buy a Rolex on eBay, I wonder how you ensure it’s real. I guess there are reputable eBay vendors out there, but other than the second hand timing by the half-second, I wouldn’t know what to look for.
Sam Bankman-Fried sentenced to 25 years
User avatar
Ad Orientem
Executive Member
Executive Member
Posts: 3483
Joined: Sun Aug 14, 2011 2:47 pm
Location: Florida USA
Contact:

Re: Boglehead topic best watch for $5000

Post by Ad Orientem » Mon Sep 30, 2019 2:37 pm

dualstow wrote:
Mon Sep 30, 2019 1:30 pm
If you buy a Rolex on eBay, I wonder how you ensure it’s real. I guess there are reputable eBay vendors out there, but other than the second hand timing by the half-second, I wouldn’t know what to look for.

I would never buy a Rolex on ebay. Period.
User avatar
dualstow
Executive Member
Executive Member
Posts: 14233
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: Boglehead topic best watch for $5000

Post by dualstow » Mon Sep 30, 2019 2:42 pm

I’ll have to read up on that in the Tynan piece.
Sam Bankman-Fried sentenced to 25 years
WiseOne
Executive Member
Executive Member
Posts: 2692
Joined: Wed Feb 16, 2022 11:08 am

Re: Boglehead topic best watch for $5000

Post by WiseOne » Tue Oct 01, 2019 6:46 am

I have the women's equivalent: an Ebel. It was a gift from my parents many years ago, and it's kind of like a piece of silver & gold jewelry. Being a woman's watch it doesn't have a second hand or numbers on the dial. I miss that sometimes (yes I find that kind of thing annoying...why can't women have practical features like second hands and pockets??)

There are times and places where you don't want to be seen with an expensive watch, so keep that in mind. Otherwise I wear it all the time and get it cleaned with each battery change every ~3 years or so. Any good watchmaker can handle it, but you definitely can't go to the random jewelry store in the mall for this.
User avatar
Cortopassi
Executive Member
Executive Member
Posts: 3338
Joined: Mon Feb 24, 2014 2:28 pm
Location: https://www.jwst.nasa.gov/content/webbL ... sWebb.html

Re: Boglehead topic best watch for $5000

Post by Cortopassi » Tue Oct 01, 2019 11:52 am

Sunglasses and watches: I buy mine cheap and disposable. My current Timex watch is about 10 years old, still the original battery. When it hits a door jamb and gets scratched or dinged, I go darn, and forget about it. Something like that happening to a Rolex, yikes.

Sunglasses, $7.00 aviator style from Ebay. I scratch them almost immediately every time. I'd have a hard time spending $100+ on Ray Ban or whatever. I'm sure the next day I'd sit on them accidentally.
User avatar
Mountaineer
Executive Member
Executive Member
Posts: 4959
Joined: Tue Feb 07, 2012 10:54 am

Re: Boglehead topic best watch for $5000

Post by Mountaineer » Wed Oct 02, 2019 5:40 am

Best time piece for under a million? Plus, you can even use it to call for a loan. ;)

https://luxurylaunches.com/gadgets/the- ... hemist.php
DNA has its own language (code), and language requires intelligence. There is no known mechanism by which matter can give birth to information, let alone language. It is unreasonable to believe the world could have happened by chance.
User avatar
ochotona
Executive Member
Executive Member
Posts: 3353
Joined: Fri Jan 30, 2015 5:54 am

Re: Boglehead topic best watch for $5000

Post by ochotona » Wed Oct 02, 2019 6:06 am

I'm cheap, too... if my heirs can hock the watch for what I paid for it, my cost for using it is zero.
Post Reply