Thinking of buying myself a Rolex

[JulesMaximus]

My father passed away 7 years ago and left us a house full of musical instruments and a vast collection of vinyl (records). My brother has most of the instruments, he's a musician, and my sister has the records but she always had the intention of selling them and splitting the money between the three of us. Anyway, it is looking like this might actually happen and if so I will see about $10k. I'm kind of into watches lately and would like to use that money in a way that will mean something to me and that will remind me of my Dad so I was thinking of buying myself a Rolex Submariner two tone with blue dial and bezel. I will wear it daily and eventually pass it on to my son.

I honestly can't think of any other brand of watch that holds its value as well as Rolex. I'm not a watch snob but don't want to throw money away like I did when I bought my TAG-Heuer either. A friend of mine has a similar watch he bought about 15 years ago and it is actually worth more today than he paid for it when he bought it. I'm not buying it as an investment though.

And before anyone suggests I invest the money we already have investments, retirement accounts etc. We don't need the money and we have about $100k in savings.

 

[IronWing]

If it means something to you, go for it.

 

[JulesMaximus]

If it means something to you, go for it.

It means more to me than a room full of classic vinyl. Plus, it takes up far less space.

My wife would divorce me if I had 1/3 of those records shipped to our house. Plus, I don't want them. She is fine with the Rolex purchase.

 

[John Connor]

I don't know man. It may sound like a good idea, but for me personaly there are two factors:

1) You will look like a rich stiff

and

2) You're liable to get jacked.

If you do buy one perhaps bring it out for special occasions? Even if I was rich I wouldn't be caught wearing one. I'd stay low key.

Just my two fake copper pennies.

 

[JulesMaximus]

I don't know man. It may sound like a good idea, but for me personaly there are two factors:

1) You will look like a rich stiff

and

2) You're liable to get jacked.

If you do buy one perhaps bring it out for special occasions? Even if I was rich I wouldn't be caught wearing one. I'd stay low key.

Just my two fake copper pennies.

The thought of getting jacked has occurred to me. I'd probably just wear it to work mostly and when going out with my wife.

Then again, I know guys who wear these watches daily with no problem. I guess it matters more where you go.

 

[WaTaGuMp]

A used Daytona is probably a better investment in the Rolex line.

 

[RLGL]

Get a fake, no one will know the difference. Spend the balance on good wine.

 

[smackababy]

Get a fake, no one will know the difference. Spend the balance on good wine.

That is 100% false. People will know the difference, and it won't hold up for shit.

Also, unless you're buying used $3,000 isn't going to be enough for a Rolex. Last time I looked, which was a few years ago, they were about $8,000 starting off. With that said, they do hold their value really well, so long as you don't get shit done to it.

 

[Eug]

If you want your $10000 to hold it's value, don't buy a frickin' watch.

As for your savings, are you saying you have $100000 total? Or just in cash savings, plus a ton of other investments? Cuz if it's $100000 total, that's not much.

 

[MrSquished]

I wouldn't buy a watch as an investment.

And if I did have the money I wouldn't buy a Rolex. I simply don't think they are attractive. There are other high end brands you can drop some G's on that look much nicer.

 

[madoka]

That is 100% false. People will know the difference, and it won't hold up for shit.

Have you actually seen a good fake? I own two Rolexes and my friend bought some "replicas." There was no way in the world I could tell the difference. The differences he pointed out were so minor as to be trivial, like being able to see the Rolex symbol etched into the glass at a certain angle when you shouldn't be able to or the spacing of certain words. I would need a jeweler's loupe and specific instructions to be able to spot the differences.

Plus his was a straight fake; not even one of those Franken-watches that use actual Rolex parts.

I asked a pawn shop owner how he tells the difference between fake and real and it involves him opening the rear of the case and seeing if it feels gritty as he unscrews the cover because a real one should be smooth. In worst case scenarios, he'll call in the serial number. If a guy whose livelihood depends on him knowing the difference can't tell without opening the watch up, then you sure as hell can't tell from just looking at it.

 

[JulesMaximus]

If you want your $10000 to hold it's value, don't buy a frickin' watch.

As for your savings, are you saying you have $100000 total? Or just in cash savings, plus a ton of other investments? Cuz if it's $100000 total, that's not much.

Cash savings.

 

[JulesMaximus]

I wouldn't buy a watch as an investment.

And if I did have the money I wouldn't buy a Rolex. I simply don't think they are attractive. There are other high end brands you can drop some G's on that look much nicer.

It's not an investment. But all things considered a Rolex will hold its value better than most watches.

 

[WaTaGuMp]

That is 100% false. People will know the difference, and it won't hold up for shit.

Also, unless you're buying used $3,000 isn't going to be enough for a Rolex. Last time I looked, which was a few years ago, they were about $8,000 starting off. With that said, they do hold their value really well, so long as you don't get shit done to it.

Some of the higher end replicas using a Swiss ETA movement are the same as buying the real thing that use the very same movement. So in terms of it lasting, they should do very well. I am not saying they are as good as the real thing, just in terms of the movement, they are solid, or should be. This place below has some nice replicas. http://www.perfectwatches.to/

 

[WaTaGuMp]

It's not an investment. But all things considered a Rolex will hold its value better than most watches.

I sold my Datejust in 2013 for more than I paid, bought it in 1994.

 

[smackababy]

Have you actually seen a good fake? I own two Rolexes and my friend bought some "replicas." There was no way in the world I could tell the difference. The differences he pointed out were so minor as to be trivial, like being able to see the Rolex symbol etched into the glass at a certain angle when you shouldn't be able to or the spacing of certain words. I would need a jeweler's loupe and specific instructions to be able to spot the differences.

Plus his was a straight fake; not even one of those Franken-watches that use actual Rolex parts.

I asked a pawn shop owner how he tells the difference between fake and real and it involves him opening the rear of the case and seeing if it feels gritty as he unscrews the cover because a real one should be smooth. In worst case scenarios, he'll call in the serial number. If a guy whose livelihood depends on him knowing the difference can't tell without opening the watch up, then you sure as hell can't tell from just looking

I haven't seen the highest quality of fakes and replicas or kept up to date, but even if it was near impossible to spot, it's still a fake and you won't get anyone standing behind it.

It's not an investment. But all things considered a Rolex will hold its value better than most watches.

You'd get 80% of the value for it if you really tried with ease.

 

[bononos]

........
I honestly can't think of any other brand of watch that holds its value as well as Rolex. I'm not a watch snob but don't want to throw money away like I did when I bought my TAG-Heuer either. A friend of mine has a similar watch he bought about 15 years ago and it is actually worth more today than he paid for it when he bought it. I'm not buying it as an investment though.
.......

If its not an investment, some other alternatives to the submariner are dive watches from Oris, Hamilton, Seiko prospex.

 

[madoka]

I haven't seen the highest quality of fakes and replicas or kept up to date, but even if it was near impossible to spot, it's still a fake and you won't get anyone standing behind it.

Yeah, but you would have spent $500 instead of $100,000+

The Chinese have copied even complex mechanisms like Tourbillons:

 

[JulesMaximus]

Some of the higher end replicas using a Swiss ETA movement are the same as buying the real thing that use the very same movement. So in terms of it lasting, they should do very well. I am not saying they are as good as the real thing, just in terms of the movement, they are solid, or should be. This place below has some nice replicas. http://www.perfectwatches.to/

Rolex makes their movements in house. They don't use ETA movements. No other watch maker uses the same movements as Rolex.

 

[IronWing]

Get one of these instead.

 

[Fir]

Go for it. Sea Dweller Deep Sea is my personal favorite.
Very strong purchase that appreciates in value as long as you take good care of it (mint condition in 5 years), take the time to have it properly serviced, etc.
Some folks will buy a watch back, remove the original with its hologram intact, keep in a safe place and wear it with the other back in place. When selling they will put the original (new) back on. Can add a few bucks to value.

The price keeps going up. You can actually make money on it if you sell it.
Anyone saying otherwise frankly doesn't know what they're talking about.
You do have to be careful as if you lose it, well duh!
NEVER buy a fake one!!!

There are serious watch forums if you want actual advice!

 

[fastman]

That is 100% false. People will know the difference, and it won't hold up for shit.

Also, unless you're buying used $3,000 isn't going to be enough for a Rolex. Last time I looked, which was a few years ago, they were about $8,000 starting off. With that said, they do hold their value really well, so long as you don't get shit done to it.

All true statements above.

My wife bought me and her father a fake Roley from a trip overseas for around a $100 each five years ago. Both lasted less than a year and up close you can tell the difference easily. The Rolex Submariner two tone you described cost me $8500, four years ago. Now they are over $9000. The price is controlled by the company and you cannot go off that or risk losing them. I too started with Tag's, then Breitling and finally a Rolex for me and the wife. I wore that thing for the last four years straight. It's a great watch but like most things as they age, they slow down. I retired recently and don't wear it much as I'm around the house more. It will hold its value as I bought it from an authorized retailer with box, certificate and all. Those two items only you see, so unless they are important for some reason look into second hand ones or the grey market for some good deals.

 

[JulesMaximus]

Go for it. Sea Dweller Deep Sea is my personal favorite.
Very strong purchase that appreciates in value as long as you take good care of it (mint condition in 5 years), take the time to have it properly serviced, etc.
Some folks will buy a watch back, remove the original with its hologram intact, keep in a safe place and wear it with the other back in place. When selling they will put the original (new) back on. Can add a few bucks to value.

The price keeps going up. You can actually make money on it if you sell it.
Anyone saying otherwise frankly doesn't know what they're talking about.
You do have to be careful as if you lose it, well duh!
NEVER buy a fake one!!!

There are serious watch forums if you want actual advice!

I joined a very active Rolex forum but I know there are some fairly knowledgeable watch aficionados here so I thought I'd see what the collective wisdom of ATOT had to say.

I purchased a subscription to WatchTime magazine two years ago and have learned quite a bit too.

No way would I buy a fake Rolex.

Thanks everyone for the comments.

 

[JulesMaximus]

All true statements above.

My wife bought me and her father a fake Roley from a trip overseas for around a $100 each five years ago. Both lasted less than a year and up close you can tell the difference easily. The Rolex Submariner two tone you described cost me $8500, four years ago. Now they are over $9000. The price is controlled by the company and you cannot go off that or risk losing them. I too started with Tag's, then Breitling and finally a Rolex for me and the wife. I wore that thing for the last four years straight. It's a great watch but like most things as they age, they slow down. I retired recently and don't wear it much as I'm around the house more. It will hold its value as I bought it from an authorized retailer with box, certificate and all. Those two items only you see, so unless they are important for some reason look into second hand ones or the grey market for some good deals.

Yeah, I learned my lesson with the TAG. I've owned it for two years and had to have it adjusted once already. It was losing 30 seconds a day and it is worth less than half what I paid for it, which was not an insubstantial amount. I like the watch and wear it all the time but I'm looking for something a little nicer.

I've been talking with one of the few authorized Rolex dealers in San Diego and I plan on buying A new watch from them when the time comes.

 

[WaTaGuMp]

Rolex makes their movements in house. They don't use ETA movements. No other watch maker uses the same movements as Rolex.

I know they do. They go way beyond just making their own in house movements.