'Downgrade' Thoughts?

[EC123]

I have owned my Non Date 114060 for just over a year and a half, I love the watch still.

I was wondering if I could free up £2k-£3k and still buying something worth having for £1.5k-£2k? I never really looked that end of the market.

I am saving for my first house - reason for thining about freeing up funds.

I'm thinking just bloody keep it.

[coldsnap]

If you need the money now for a deposit then yes, sell.

If however you are a couple of years off, then keep the watch and enjoy it. It certainly won't be worth any less in the future, probably more so it's indirect saving, but hang on to it if you can.

[simong800]

EC123 said:

I have owned my Non Date 114060 for just over a year and a half, I love the watch still.

I was wondering if I could free up £2k-£3k and still buying something worth having for £1.5k-£2k? I never really looked that end of the market.

I am saving for my first house - reason for thining about freeing up funds.

I'm thinking just bloody keep it.

Do you NEED the money? As in is the £2k-£3k going to be the difference between buying the house you want or not?

I did something similar last year to chuck some more funds into an overbudget renovation project - sold an AP Royal Oak and got a Rolex GMT Master and £5k change. No regrets from doing so, and now in a position to buy another AP, but will actually keep the GMT Master too as I've become very attached to it.

So if you need to do it and it's for the right reasons, then why not. The new watch will become a symbol of your sensible purchase i.e. the house. If on the flip side you see yourself selling it and getting something you don't like, then selling the replacement only to buy another 114060 for a higher price than you paid for the original, it's pretty pointless.

Good luck either way!

[stuno1]

Plenty of nice watches at that price point. It just depends how snobby you are bout other brands. Longines and Tudor will have some nice offerings and are very well made watches.

[sad61t]

Keep it.
1. You still love it.
2. If the deposit is that tight you may as well drop all the way to a £50 Sekonda/Casio.
3. With the amount of money sloshing around in a house purchase a couple of thousand is insignificant (one or two payments in 300). The vultures will take way more than that with invented costs and fees.
4. The gap back to a 114060 is likely only going to widen.

[n_const]

Do not sell the watch to free up £2000 , you will regret it. As someone said above is the extra £2k going to make that big of a difference to your deposit ?

[TheJimi]

EC123 said:

I have owned my Non Date 114060 for just over a year and a half, I love the watch still.

I was wondering if I could free up £2k-£3k and still buying something worth having for £1.5k-£2k? I never really looked that end of the market.

I am saving for my first house - reason for thining about freeing up funds.

I'm thinking just bloody keep it.

Am I reading this right? You’re talking about punting the Rolex to free up cash, and buy a cheaper watch? In the 1.5-2k bracket?

With the intention of saving money / freeing funds?

Doesn’t compute.

[huytonman]

TheJimi said:

Am I reading this right? You’re talking about punting the Rolex to free up cash, and buy a cheaper watch? In the 1.5-2k bracket?

With the intention of saving money / freeing funds?

Doesn’t compute.

Have to admit that I agree, if you have to sell to free up cash spending 2k for a watch doesnt make sense to me either - there are plenty of decent Japanese watches out there for a couple of hundred quid that will look presentable and tell you the time as well as a German tool watch say for £1500.
The thing is if you sell the Rolex now when it comes to buy another (that will surely happen) you will doubtless be shocked by how much they have inflated in price and kick yourself for selling when you did..but if you need the dosh you have little choice but be careful about blowing £2k as the chances are you will lose at least 50% of it come the time to sell on.
Keith

[ZesPak]

As above really, keep it or sell it and get a £150 Seiko, something like this for example:





Selling the rolex and buying a 2k watch doesn't compute.

[castex]

Sacrifice one brand for another with no functional effect and spend money you need on something else?
That would be a yes.

[anonymous-user]

If you don't own a property yet but you have a Rolex then I would say absolutely sell it and use the money for a better property/deposit. I wouldn't buy a £2k watch though - just get a G-shock or similar and get off the wheel.

Welcome to the real world.

[mikeveal]

Badda said:

If you don't own a property yet but you have a Rolex then I would say absolutely sell it and use the money for a better property/deposit. I wouldn't buy a £2k watch though - just get a G-shock or similar and get off the wheel.

Welcome to the real world.

I don't have much time for people who base their watch buying decisions on how others will perceive them (and I'm not automatically lumping the OP in this bracket). But this really does show how daft the world we live in is. Wearing a Rolex is viewed by many as a status symbol and yet here we have an example of a wearer who doesn't even have the financial stability of his own home!

The status symbol attitude to luxury goods is indisputably madness. I'd argue that so is spunking cash on a Rolex before you own a home. It's so financially stupid that I wonder if the OP is trolling, but I'm sure the OP (and others) will argue the man maths.

Yes OP, sell it, service your debts first and you will be 'considerably richer than thou' in the long term.

[Tiggsy]

as above...mind boggling

Bought my first nice watch in my mid 20's (same age as OP one assumes) because I had already got a house, wife, kids and a very good job/income.

Nowadays all the 25 year olds seem to have Tag's and a £500pm lease car on the drive of their parents house while they ponder what to do with life

Edited by Tiggsy on Wednesday 8th November 12:46

[ZesPak]

Tiggsy said:

Nowadays all the 25 year olds seem to have Tag Rolex's and a £500pm lease car on the drive of their parents house while they ponder what to do with life

EFA IME

Other than that, spot on.

[simong800]

Quite a lot of assumptions being made above, with quite small amount of information.....

There could be numerous reasons the OP has a Rolex and not a house yet, that are nothing to do with dick waving, being financially stupid, and not being financially stable enough to have their own home.

The lack of tolerance to people doing things differently is hilarious

[EC123]

Thanks for the responses, I am certainly not 'trolling'.

I have to save £40k in the south east area to get my first property, no luxury of help from parents as they simply cannot afford it, but they are helping me hugely by letting me live rent free and allowing me to save for my house, which I know is great and better than some have it.

I got to about £25k, (Over 3 years, I earn £55k and like to go on holidays once a year... I know what a travesty! Sorry for living). I have always liked nice watches, researched thoroughly before my purchase, my brother ten years my senior still has his 14060m, I just followed suit, I have been really chuffed with it.

I will admit, why sell it and get £1.5k-£2k watch, that is silly thinking about it, I would just get a cheapo if I sell it.

It will allow me to get my property approx. 8 months sooner (No I haven't worked this out to a tee).

Sorry for living to the above posters who to me seem like trolls, I bet your got your house with no deposit or a small, one but that's another matter Probably set you off though.

[simong800]

EC123 said:

Thanks for the responses, I am certainly not 'trolling'.

I have to save £40k in the south east area to get my first property, no luxury of help from parents as they simply cannot afford it, but they are helping me hugely by letting me live rent free and allowing me to save for my house, which I know is great and better than some have it.

I got to about £25k, (Over 3 years, I earn £55k and like to go on holidays once a year... I know what a travesty! Sorry for living). I have always liked nice watches, researched thoroughly before my purchase, my brother ten years my senior still has his 14060m, I just followed suit, I have been really chuffed with it.

I will admit, why sell it and get £1.5k-£2k watch, that is silly thinking about it, I would just get a cheapo if I sell it.

It will allow me to get my property approx. 8 months sooner (No I haven't worked this out to a tee).

Sorry for living to the above posters who to me seem like trolls, I bet your got your house with no deposit or a small, one but that's another matter Probably set you off though.

You've been on a holiday before you bought a house??? Surely not



Good on you OP, good luck with it, hope you get the house and keep the Rolex

[anonymous-user]

EC123 said:

Thanks for the responses, I am certainly not 'trolling'.

I have to save £40k in the south east area to get my first property, no luxury of help from parents as they simply cannot afford it, but they are helping me hugely by letting me live rent free and allowing me to save for my house, which I know is great and better than some have it.

I got to about £25k, (Over 3 years, I earn £55k and like to go on holidays once a year... I know what a travesty! Sorry for living). I have always liked nice watches, researched thoroughly before my purchase, my brother ten years my senior still has his 14060m, I just followed suit, I have been really chuffed with it.

I will admit, why sell it and get £1.5k-£2k watch, that is silly thinking about it, I would just get a cheapo if I sell it.

It will allow me to get my property approx. 8 months sooner (No I haven't worked this out to a tee).

Sorry for living to the above posters who to me seem like trolls, I bet your got your house with no deposit or a small, one but that's another matter Probably set you off though.

You live at home and wear a Rolex? Player!!

[TheJimi]

I see the judgemental snivelling tossers are coming out of the woodwork, as per.

[TheJimi]

si800 said:

EC123 said:

Thanks for the responses, I am certainly not 'trolling'.

I have to save £40k in the south east area to get my first property, no luxury of help from parents as they simply cannot afford it, but they are helping me hugely by letting me live rent free and allowing me to save for my house, which I know is great and better than some have it.

I got to about £25k, (Over 3 years, I earn £55k and like to go on holidays once a year... I know what a travesty! Sorry for living). I have always liked nice watches, researched thoroughly before my purchase, my brother ten years my senior still has his 14060m, I just followed suit, I have been really chuffed with it.

I will admit, why sell it and get £1.5k-£2k watch, that is silly thinking about it, I would just get a cheapo if I sell it.

It will allow me to get my property approx. 8 months sooner (No I haven't worked this out to a tee).

Sorry for living to the above posters who to me seem like trolls, I bet your got your house with no deposit or a small, one but that's another matter Probably set you off though.

You've been on a holiday before you bought a house??? Surely not



Good on you OP, good luck with it, hope you get the house and keep the Rolex

Agreed, despite my comments on your original post, you do seem fairly sensible. Ignore the dicks with their cheap shots.

Doesn't sound to me like you *need* to sell the Rolex, so I'd say just keep it.