Why does so many people on this site worry about price?

[Mac-427]

I've had most of the Rolex watches made up to and including a couple of Presidents. I sold them all and have only one Ceramic Submariner I was fortunate enough to purchase at list from my AD last November. It's my last Rolex and I wear it 24/7. Me reason for checking Sub prices is simple: I like to gloat.

[padi56]

Originally Posted by shalako

If you go back about 5 years we predominantly had watch enthusiasts who wanted to discuss the virtues of different models, there was rarely a post about prices. This a recent phenomenon that only happens on the Rolex forums because the financial situation across the world has bought about a new breed of Rolex investors who aren’t traditional watch collectors but have jumped on the band wagon of buying up the collectable sports models for obvious reasons.
A watch enthusiast will typically have a collection from different brands and write enthusiastically about all of them, this new breed of Rolex Investor will only be interested in Rolex, particularly which model is the most desirable.
Some sweeping generalisations I know but those who have been into watches for more than 5 years will know what I’m talking about.

About two weeks ago I wrote this on the Omega Forum in relation to a Rolex vs Omega thread;

‘I own 4 x Rolex’s and three Omega’s so fair to say they are amongst my favourite brands, I enjoy this Omega forum considerably more however because here everyone talks about watches....on the Rolex forum - particularly with the ‘Johnny come lately’ newcomers to the brand - they are obsessed with talking about prices’.

This is very true especially from newer members in the past few years which mostly seem more interested in investment prices than the actual Rolex watch.

Originally Posted by Bsmith73

I got into the watch hobby because I liked them. Seems every 10th thread is about how much my watch is worth and did I pay too much. If you need to ask these questions DO NOT BUY WATCHES.
Drives me nuts and is kinda killing the hobby for me.......

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Simply because today many think Rolex watches are nothing more than $$$$$£££££.. Instead of owning and wearing one of the most robust and accurate watches made on the planet today.Plus today many just wear the brand hype instead of the watch.

[cerendigit]

Because buying and selling it’s fun.


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[gerobak]

For many (including me) it was their first time to buy a watch that perhaps 50 times more expensive than our Casio, Tissot, or Daniel Wellington. Some folks need to drain their savings to buy their first Rolex. So we had all of our naive questions and we asked them in the Rolex forum. Where else the better place to ask for advice? This market is not the easiest or the most common one to jump in. Newcomer got intimidated to come in to an AD, and if one finally had a gut to come in, they would get laughed at by AD. I still remember I got so confused when asked about Submariner/SD43K, and they asked me back (with their snobbish tone) whether I am their customer? I was like dohhh I am trying to become one. We got so many questions, but very little help out there. After a while, we learned it is not about deal, price or investment. There’s so much more.
But how can a newcomer know? We all (mostly) started as a bandwagon anyway. We had our silly and naive questions when we started to jump in. We gotta start somewhere, rt?

Another factor is people think it is the same with a luxury car forum, such as Bimmer. It is pretty common to ask about deals, whether the offer they have make sense or not. But again after we quickly learned that Rolex is just different. It is considered as a fortune or dealbreaker to be able to buy on MSRP tag.


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[Greg 59]

Originally Posted by Bsmith73

I got into the watch hobby because I liked them. Seems every 10th thread is about how much my watch is worth and did I pay too much. If you need to ask these questions DO NOT BUY WATCHES.
Drives me nuts and is kinda killing the hobby for me.......

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I'm sorry that your member colleagues are driving you nuts, I don't believe its their intention. A suggestion if I may, you could always go into the control panel and suppress threads that are created by certain members that you feel discuss topics that don't interest you.
From my perspective, I find the whole conversation around value and popularity of Rolex watches all part of the overall enjoyment of discussing all aspects of my chosen pastime. To not talk about these specific issues especially in such unsettling times when supply and demand is all over the place would be most peculiar.
Interestingly, other hobbies that involve collecting such as coins, stamps, ww1 & ww2 memorabilia to name just a few consider value retention a primary objective within the overall objective of acquisition and retention of pieces.
Maybe we as a community need to be a little less judgemental on what is and isn't considered an acceptable topic of conversation.
Live long and prosper my friend.

[beshannon]

Originally Posted by Tools

It's not a lot, just a few who are vocal.

They aren't watch hobbyists/enthusiasts, they are deal chasers. Once they have their "deal", they lose interest; then are off again to another "deal".

Exactly, they are chasing a commodity likely without the funds to purchase it so the deal becomes more important than the product.

[Kiddodoc]

Originally Posted by shalako

If you go back about 5 years we predominantly had watch enthusiasts who wanted to discuss the virtues of different models, there was rarely a post about prices. This a recent phenomenon that only happens on the Rolex forums because the financial situation across the world has bought about a new breed of Rolex investors who aren’t traditional watch collectors but have jumped on the band wagon of buying up the collectable sports models for obvious reasons.
A watch enthusiast will typically have a collection from different brands and write enthusiastically about all of them, this new breed of Rolex Investor will only be interested in Rolex, particularly which model is the most desirable.
Some sweeping generalisations I know but those who have been into watches for more than 5 years will know what I’m talking about.

About two weeks ago I wrote this on the Omega Forum in relation to a Rolex vs Omega thread;

‘I own 4 x Rolex’s and three Omega’s so fair to say they are amongst my favourite brands, I enjoy this Omega forum considerably more however because here everyone talks about watches....on the Rolex forum - particularly with the ‘Johnny come lately’ newcomers to the brand - they are obsessed with talking about prices’.

Agree with almost everything you said except one. There are many here who are Rolex enthusiast only, like myself, who do not own other brands and are devoted collectors of Rolex. While I enjoy seeing other brands, I am interested in acquiring them.

[77T]

I think buyers are concerned about price in nearly equal proportion to sellers.

Private sellers, ADs, secondary dealers, manufacturers are always setting a price or discount. On the opposite side of any deal is a buyer who wants the best deal.

One may as well ask the same question about anything like cars, houses, yachts and the like - anything at or above 5 digits in asking price is bound to have some negotiation involved.

What is so different in high-end watches? If the OP wants to stop buying watches due to such discussions then it is his prerogative.

But we are disingenuous if we say we never asked for a discount, or negotiated on a 5-digit deal in the past.

Not a rant; just a reality check...


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[mmaggi]

Lots of good comments and observations. I believe that many here purchase a watch knowing in a year or two will end up selling it for another and are concerned about losing money.

Personally I could care less. Buy what you like, wear it proudly & when it doesn't float your boat anymore, sell it for whatever the market sells for. Life is short.

[DaveDhc]

I suspect that for many, purchasing watches isn't anymore a hobby than smoking cigarettes. The difference being that instead of dire health issues, one has serious financial problems as a result of the addiction.

[Marcjvr]

I love Rolexes. Buying my first one was a big deal, and one of the biggest hurdles for me was paying that much for a watch that tells time less accurately than a $10 Casio.

I did a lot of research into prices to determine what appeared to be a good deal and what did not.

Eventually I was ready to pull the trigger and went to an AD. A month earlier they offered 5% discount. This time walking in I was ready to buy, but the AD refused to discount. In fact the AD was pretty clueless and did not even know how the Easylink feature worked. So I went Grey and got my Explorer for $1,000 less than MSRP from a trusted seller here.

The price I paid was a HUGE deal to me. I have friends who are millionaires who wear $10 casios and say people who buy Rolexes are nuts. But knowing I paid well under MSRP makes me smile when I look at my Rolex.

Buying a Rolex is a completely irrational decision. We don’t need them to tell the time. We don’t need them at all.

But everyone has a price. All the members here have a price. Even the members here saying “buy it and don’t worry about the price” would think twice if Rolexes all jumped $1k-$100k overnight.

If you don’t think how much you pay for your Rolex is important, you are either Jeff Bezos or you are lying to yourself

[gold&black]

Rolex watches are an 'investment' for a lot of people sadly.

[Xerxes77]

Originally Posted by Tools

It's not a lot, just a few who are vocal.

They aren't watch hobbyists/enthusiasts, they are deal chasers. Once they have their "deal", they lose interest; then are off again to another "deal".

True point...

[Widows Son]

Maybe we all need to turn back the hands of time(no pun intended) to what our parents taught us (or should have). It's impolite to talk about money. I used to get riled when I'd go to work with a new car and people would come right out and ask what I paid for it. It got so annoying that I wouldn't even answer. Same with a house. If you're that interested it's easy enough to find on line or through tax records. I don't haggle about money. I research ahead of time and know what I'll pay for a service, or an item, and it's not concluded from asking someone else what they paid. I don't find wasting my time haggling over a few bucks fun, I find it annoying and demeaning.

[iliketime]

im gonna give them the benefit of the doubt because I remember when I first started, the watch i was after had been discontinued. I was interested in finding out what a fair price is or should be for the piece i was after. Presently, I have no cares for if the watch increased in value or decreased in value because I fucking love that thing and wouldnt be selling it any way. Hell im almost considering buying a third 16570. I remember when I bought my second one, and then had to source a bracelet. I probably put more money into the second one than I did the first.

[RobotDoctor]

Originally Posted by shalako

If you go back about 5 years we predominantly had watch enthusiasts who wanted to discuss the virtues of different models, there was rarely a post about prices. This a recent phenomenon that only happens on the Rolex forums because the financial situation across the world has bought about a new breed of Rolex investors who aren’t traditional watch collectors but have jumped on the band wagon of buying up the collectable sports models for obvious reasons.
A watch enthusiast will typically have a collection from different brands and write enthusiastically about all of them, this new breed of Rolex Investor will only be interested in Rolex, particularly which model is the most desirable.
Some sweeping generalisations I know but those who have been into watches for more than 5 years will know what I’m talking about.

About two weeks ago I wrote this on the Omega Forum in relation to a Rolex vs Omega thread;

‘I own 4 x Rolex’s and three Omega’s so fair to say they are amongst my favourite brands, I enjoy this Omega forum considerably more however because here everyone talks about watches....on the Rolex forum - particularly with the ‘Johnny come lately’ newcomers to the brand - they are obsessed with talking about prices’.

I am one of those newcomers but I could care less about price. I wouldn't call myself a watch enthusiast but someone who's enthusiastic about his watch. I work in the industrial robotics world as a technical field service engineer. I love something well designed and engineered. Maybe this is my draw to the Rolex brand. Also my parents both had Rolexes from the early 60s. I love the discussions regarding details about watches because this allows me to learn more intimately about a watch. Posts regarding price doesn't get much attention from me because I'm not here because I'm curious about a price. Yes, I know what the MSRP of certain watches I may consider purchasing in the future. I also know the prices from the grey market. For me if I want something I know the range I'm willing to spend that I can live with. If something I want falls within that I'm happy. If not I keep searching.

I agree it is much more interesting talking about the details of the product or the passion of collecting. Any jealousy, envy or anger anyone has because of someone else's collection is sad to see. I can understand those who state seeing a shift in focus from the product itself to the price of the product. As for me, I'm about the product.

[marinemaster]

In this thread it is said that Rolex is a mechanical masterpiece and the finest watch around. That is absolutely not true. 99% of newcomers have no clue how a mechanical watch works and they believe it. The Rolex marketing machine has already convinced too many that a $ 1000 watch is worth $10,000.

[JebM]

Originally Posted by SkyJuice

+1

this statement should be flagged its that dumb.

[garyk]

Originally Posted by marinemaster

In this thread it is said that Rolex is a mechanical masterpiece and the finest watch around. That is absolutely not true. 99% of newcomers have no clue how a mechanical watch works and they believe it. The Rolex marketing machine has already convinced too many that a $ 1000 watch is worth $10,000.

I don’t know about this statement either. I don’t recall my college economics professor including this simplified statement to describe the establishment of value of a luxury item in a free market economy. What I like on this forum is the number of experts and their definitive opinions?!

[crazymcmichael]

I guess most people feel not confidently that they ''can miss'' the amount of money spend on a watch.. Most people are not super rich, or rich enough to properly say héy.. This watch costed me only 0,00000000001% of my total net worth.. But they all want to look like that don't they?
Most guys are simple middle class people with a bit of money but if they drive a expensive car, take a fly license and an expensive cruise around the world they lost all they own.. Thats why i think the value aspect is logically important.. But not so important to me that i CAN NOT loose money.. If i loose, let say on a purchase 1000 euro i find that it gave me some pleasure and yes.. whetever.. But if i'd loose nearly all.. That just does not feel right in my own position either. I am not buying watches to intend to make money at all.. I never did this and i find that simply to much hassle, i like watches but i like my money to!!! I love to look on my bank account and see a permanent growth, if i see that my balance is a few Thousand euro less i feel a sort of still.. I have more than enough but i feel just like: What have i done?

[RobotDoctor]

Originally Posted by gerobak

For many (including me) it was their first time to buy a watch that perhaps 50 times more expensive than our Casio, Tissot, or Daniel Wellington. Some folks need to drain their savings to buy their first Rolex. So we had all of our naive questions and we asked them in the Rolex forum. Where else the better place to ask for advice? This market is not the easiest or the most common one to jump in. Newcomer got intimidated to come in to an AD, and if one finally had a gut to come in, they would get laughed at by AD. I still remember I got so confused when asked about Submariner/SD43K, and they asked me back (with their snobbish tone) whether I am their customer? I was like dohhh I am trying to become one. We got so many questions, but very little help out there. After a while, we learned it is not about deal, price or investment. There’s so much more.
But how can a newcomer know? We all (mostly) started as a bandwagon anyway. We had our silly and naive questions when we started to jump in. We gotta start somewhere, rt?

Another factor is people think it is the same with a luxury car forum, such as Bimmer. It is pretty common to ask about deals, whether the offer they have make sense or not. But again after we quickly learned that Rolex is just different. It is considered as a fortune or dealbreaker to be able to buy on MSRP tag.


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Good points. In the past before the access of boards like this we had to ask questions and were either helped by the AD to learn or scoffed at. Times back then could be brutal. Today, boards like this help the novice learn so much only if they read and do their homework. The search feature works great to find answers to questions. I've been a member here for over a year and I didn't post until recently because I spent my time learning. I came in familiar with Submariners, GMTs and DJs as I've done my homework years ago. I'm learning about other models and eras. If someone comes in asking a lot of novice questions, maybe more than the average novice, my guess is that person wants instant gratification and might be more suited to stop, look and listen for the wealth of information already discussed here.

[scottwmitch]

I haven't read the entire thread and so this might have already been covered. I completely believe in the idea of "utility cost" way more than "financial cost" when it comes to luxury items like Rolexes. MSRP is a suggested price, which by the way, is already ridiculously inflated over actual cost. The idea of utility cost cannot necessarily be measured financially; how much joy do you extract from the item. If you automatically tie that to MSRP by principle, then you really may be selling yourself short from a joy perspective. For example, if you have to wait 2 years to get your dream watch at cost from an AD, have you really accounted for all the variables? Time is more valuable than money. With that said, a lot of people draw a lot of joy from the AD experience. A watch purchased from an AD may in fact be "different' from the exact same type of watch purchased from a grey dealer for example; simply because the buying experience isn't attached.

In summary, luxury items should not simply be tied to a financial number. Weigh all the utility costs associated with it and make your own PERSONAL decision. If paying 8K above MSRP for a DaytonaC makes you happy then go for it and don't look back! If you can't go a cent above MSRP for the same watch, then go for it! If you desire that AD buying experience, then go for it!

[Pongster]

Many people worry about price because rolex aint free. Part of the hobby is buying it. Thus, have to deal with prices.

What i find wrong is if it’s all about the price. Our hobby is much more than the price.

[mobster600]

The reason is, 2 years ago prices were sub-stantially lower, no pun intended lol . You never had to worry about paying Grey prices and/or not finding a model(except a few) at an AD.

A few years before that, 2013 the craze was still big watches. So we transitioned out of big 40mm+ watches and gradually into Rolex sports models. And demand surpassed supply.

In conclusion, we use to pay MSRP for a Rolex. Now you have to spend 50k at an AD to get a SS Daytona.

[drrd]

OP: Why do you care that people care?

Arguments about worth are like arguments about altruism.

[Miura Mario]

Originally Posted by Frank McKay

Totally agree with you. I’m frankly sick of it. If you can’t afford to comfortably buy the watch twice without thinking, then don’t buy it and move along. Pick up a lesser watch. Rolex ain’t for you.

I can buy it 100x still doesnt mean im going to not get a deal.

[horseShu]

I remember reading, in an old thread, someone was asking why everybody wants a Daytona. Somebody answered that it has the best chronograph movement. But nobody knows why it is the 'best'.

I think someone answered that it has screwed down pushers and 100m WR compared to a speedmaster's 'pathetic' 50m. Which is funny because water resistance has nothing to do with a movement.

I also remember reading a couple of threads where people are saying that the chronograph is the most useless complication, right up there with the moonphase. And that nobody really uses the chronograph, and that a diver's bezel is all you need.

And yet the Daytona is arguably still the most sought after model...

There's no point in this post. People are funny, I guess.

[Miura Mario]

Originally Posted by scottwmitch

I haven't read the entire thread and so this might have already been covered. I completely believe in the idea of "utility cost" way more than "financial cost" when it comes to luxury items like Rolexes. MSRP is a suggested price, which by the way, is already ridiculously inflated over actual cost. The idea of utility cost cannot necessarily be measured financially; how much joy do you extract from the item. If you automatically tie that to MSRP by principle, then you really may be selling yourself short from a joy perspective. For example, if you have to wait 2 years to get your dream watch at cost from an AD, have you really accounted for all the variables? Time is more valuable than money. With that said, a lot of people draw a lot of joy from the AD experience. A watch purchased from an AD may in fact be "different' from the exact same type of watch purchased from a grey dealer for example; simply because the buying experience isn't attached.

In summary, luxury items should not simply be tied to a financial number. Weigh all the utility costs associated with it and make your own PERSONAL decision. If paying 8K above MSRP for a DaytonaC makes you happy then go for it and don't look back! If you can't go a cent above MSRP for the same watch, then go for it! If you desire that AD buying experience, then go for it!

Agree.. some people factor in the pleasure of saving 8k and wating a few years.. or being prudent and reserved... I call that opportunity cost.

[Flyoverguy]

Because the more these watches cost the more the value proposition becomes important for most people.

[Aplover5]

Originally Posted by 42itus

The Rolex crowd is so diverse. If I see someone wearing an Omega I might compliment the watch depending on their demeanor. But I hardly ever comment on a Rolex because I’m guessing that most Rolex owners are not watch people. I’m not taking an elitist attitude. I received a Rolex for a wedding present and wore it for years and I didn’t give two shakes about watches.
So I get why so many here on TRF care about value. They’re the same crowd that only want certain references because they’re perceived to be hard to get.
I’ve heard it’s much worse in Canada.


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I own a retail store and work the floor and cash register in a resort area that people from all over the world travel to, and compliment every customer with a watch on that I’m familiar with. Some ignore me some acknowledge me and some have a smile with a story to tell. This is just an observation but Euros prefer APs and Pateks, Americans are all over the board. It does seem Canucks talk mostly price and deal but it’s understandable with the dollar.