Buying a Watch (Rolex) to invest/Secure work Bonus

[largespiced]

Hi All.

I recently got a nice bonus from work and after tax etc its left me with around 8k in a savings account. Keen not to lose this money into everyday life I would like to lock it away into some security. Obviously could do the more usual standard investments via ISA etc. but where's the fun?

Friend of mine has always insisted (and owns several) that a Rolex is a pretty safe bet when it comes to selling later on. He tends to buy a new one every year and keep hold of it. I remember some years ago I went to buy a brand new Submariner and it was £5k new. They now seem to be nearly £8k.

Would my money be well spent in buying a Rolex? (Something I have always wanted) but could get most of/all/more of my investment back in years to come if needed?

Cheers

[sidewinder500]

Still holidays, I guess...

[largespiced]

sidewinder500 said:

Still holidays, I guess...

Not for me! Sat at work!

What does that reply ever actually mean anyway? Like some school kid has nothing better to do than find a random watch sub forum on a motoring forum to ask a question on?

I was only after some help as I have always fancied a nice watch and didn't want to lose money/bonus!

[BrokenSkunk]

You're unlikely to get a sensible reply to your question here. This is a watch forum, largely populated by people who appreciate the artistry and horology of watches. For advice on investments, try the NP&E or Business fora.

If you want a watch, buy a watch. If you want an investment, buy an investment.

[blue_haddock]

largespiced said:

Hi All.

I recently got a nice bonus from work and after tax etc its left me with around 8k in a savings account. Keen not to lose this money into everyday life I would like to lock it away into some security. Obviously could do the more usual standard investments via ISA etc. but where's the fun?

Friend of mine has always insisted (and owns several) that a Rolex is a pretty safe bet when it comes to selling later on. He tends to buy a new one every year and keep hold of it. I remember some years ago I went to buy a brand new Submariner and it was £5k new. They now seem to be nearly £8k.

Would my money be well spent in buying a Rolex? (Something I have always wanted) but could get most of/all/more of my investment back in years to come if needed?

Cheers

Quoted just in case.

Good luck getting a brand new Sub from an AD at RRP........

[anonymous-user]

I will echo what the above posters have said:

1) Don't buy watches as an investment. Buy them because you love them and want to wear them. Buying a watch as an investment is just gambling, as no one knows what will happen to the values in the future. Some people have made money over the last few years after managing to buy a Rolex/AP etc new and then selling it on, but equally many have lost tens of thousands as the value of certain higher value watches has collapsed.

2) You won't be able to simply walk into a Rolex dealer and buy a new watch of your choosing. That isn't how it works at the moment I'm afraid. You may get very lucky and they have something you want in stock, and are willing to sell it to you, but usually you will have to wait months/years for the one you want, if you are 'allowed' to buy it at all.

3) If you actually want to do something financially prudent with the money then stick the £8k into paying off some of your mortgage or similar. For proper financial advice, visit the Finance forum.

Edited by anonymous-user on Thursday 5th January 12:17

[largespiced]

blue_haddock said:

Quoted just in case.

Good luck getting a brand new Sub from an AD at RRP........

In case of what?

I retract. Obviously the wrong place for this.

Thanks for the help

Edited by largespiced on Thursday 5th January 12:32

[anonymous-user]

largespiced said:

blue_haddock said:

Quoted just in case.

Good luck getting a brand new Sub from an AD at RRP........

Incase of what?

I retract. Obviously the wrong place for this.

Thanks for the help

This isn't the wrong place, and some people have been less than polite, but the point he made still stands. Pretty much any watch that will be a safe financial investment, such as buying a new Rolex at standard retail price, will not be available to you. The dealers won't sell one to you, unless you get really really lucky.

[iphonedyou]

largespiced said:

In case of what?

I retract. Obviously the wrong place for this.

Thanks for the help

Edited by largespiced on Thursday 5th January 12:32

Ignore the nastiness. If you're not into watches there's absolutely no reason you'd know that you basically can't buy a Rolex sports watch at RRP anymore. You either go on a 'list' or pay overs on secondary market.

[warp9]

Put aside a couple of hours to read the 'Has the Rolex bubble burst yet?' thread - https://www.pistonheads.com/gassing/topic.asp?h=0&...

It is very informative and worth it for the comedy gold.

[largespiced]

Thanks guys. I was just after somewhere safe to put my money while also having some fun with it. Seems I have mainly misjudged it. Back to the drawing board (or school, now the holidays are over!)

[Yex GTR]

OP, have a look at Dom Hackett's site for an idea of what £8K can buy with a Rolex badge and take a look at how old they are:

https://www.hackettwatches.com/items/brand?item_br...

I don't think you can make money out of a Rolex these days unless you are super lucky and get a new one at list via a visit to an AD who happens to have a cancelled order and nobody on their list left to call. Chances of that are about 0.01% I imagine.

If you did buy at your budget level you will see a loss if you sold it again within 2-3 years as the retailers all need to make a profit. However, if you did buy and keep for a longer period you might get lucky and break even.

Personally with £8K to play with I'd buy a watch I like (not necessarily a Rolex) and enjoy wearing it.

[B0bajobbob]

Subs aren't that hard to find at retail currently if you are happy to wait a few months. Is it a good investment. Not really. Will it hold its value over the next 5-10 years. Probably.

Will you enjoy it? That's really the key here.

[sidewinder500]

largespiced said:

Thanks guys. I was just after somewhere safe to put my money while also having some fun with it. Seems I have mainly misjudged it. Back to the drawing board (or school, now the holidays are over!)

Where's the fun in having a watch and keeping it in security as mentioned your first post?
And not appreciating the watch for what it stands and use it accordingly (for most here, as the only agreeable form of male jewellery, to show off, to dwell in its form or function etc etc)
To hold the value it has to be stored away so that not even microscratches can occur, anyway...
Lots of fun really.
Get an appreciating car or motorbike, that's more in keeping with the fun part.

Edited by sidewinder500 on Thursday 5th January 15:06

[largespiced]

I think I may have explained myself badly here and also not understood the market.

I was looking for something to put some money into that I could enjoy and come out the other end without losing that much/breaking even or at the very best making a small amount. The fact I thought of a Rolex was purely due to the fact I thought it would be cool to own one/say I have owned one for a while.

I think investment was the wrong word. Lowest risk of protecting my works bonus might have been a better way of expressing what I was trying to achieve.

[largespiced]

Yex GTR said:

OP, have a look at Dom Hackett's site for an idea of what £8K can buy with a Rolex badge and take a look at how old they are:

https://www.hackettwatches.com/items/brand?item_br...

I don't think you can make money out of a Rolex these days unless you are super lucky and get a new one at list via a visit to an AD who happens to have a cancelled order and nobody on their list left to call. Chances of that are about 0.01% I imagine.

If you did buy at your budget level you will see a loss if you sold it again within 2-3 years as the retailers all need to make a profit. However, if you did buy and keep for a longer period you might get lucky and break even.

Personally with £8K to play with I'd buy a watch I like (not necessarily a Rolex) and enjoy wearing it.

Thank you for the detailed reply

[NDA]

Without wanting to sound like Swiss Tony....

Rolex, Patek and AP are a bit like fine wines - Margaux, Pauillac or Pomerol. The market is too mature to find bargains, everybody is buying before they even hit the shelves. If you can find a case of d'Yquem or Lafite, then you have something that might increase in value - but it's very hard to do.

[gregs656]

From what you have said I don’t think you should spend £8k on a watch.

Why not take a portion of your bonus, maybe around £2k (although you can buy very nice watches for much less) and buy something you can wear and enjoy without worrying too much about its value.

[largespiced]

gregs656 said:

From what you have said I don’t think you should spend £8k on a watch.

Why not take a portion of your bonus, maybe around £2k (although you can buy very nice watches for much less) and buy something you can wear and enjoy without worrying too much about its value.

Its not wanting a watch as such. It was wanting a Rolex...as much as just wanting a Rolex it was also hoping to tie the money up into something rather than it dripping away.

Onto something else

Thanks for the replies.

[InitialDave]

largespiced said:

Its not wanting a watch as such. It was wanting a Rolex...as much as just wanting a Rolex it was also hoping to tie the money up into something rather than it dripping away.

Onto something else

Thanks for the replies.

I understand what you mean, but from experience, while it's nice to know the things you've bought because you like them are also a decent investment, it is a very man maths thing, as I don't sell them because I like them!