Probably a dumb purchase financially...

[Captain Save]

A friend of mine purchased 2 rolex's from this "grey market" dealer as well.. a couple of years ago and they've appreciated in value since. He 's moving closed to our are and wanted to buy a condo ... he might sell the watch to purchase it.

As far as toys go , it's not a bad investment..as long as those numbers hold up.

[scfr]

Is renters insurance coverage squared away? Have you researched whether a rider is needed?

[disneysteve]

It's way more fun collecting things when they go up in value.

That's an interesting comment. I'm not quite sure I agree, and I've been a collector of a variety of things for most of my life.

First and foremost, I collect things because I like them. I have items I purchased 5 or 10 or 25 or 40 years ago in my collections. Whether or not their value has climbed over the years has no bearing on their meaning and value to me personally.

I don't think I have ever bought an item for my collection with hopes of it appreciating in value over time. I've never bought something for my own collection with the intent of reselling it later, so future value never mattered to me.

That said, I have also had a collectibles business for more than 30 years. My mindset when buying items for that is completely different. Then I am totally focused on resale value.

[~bs]

That's an interesting comment. I'm not quite sure I agree, and I've been a collector of a variety of things for most of my life.

First and foremost, I collect things because I like them. I have items I purchased 5 or 10 or 25 or 40 years ago in my collections. Whether or not their value has climbed over the years has no bearing on their meaning and value to me personally.

I don't think I have ever bought an item for my collection with hopes of it appreciating in value over time. I've never bought something for my own collection with the intent of reselling it later, so future value never mattered to me.

That said, I have also had a collectibles business for more than 30 years. My mindset when buying items for that is completely different. Then I am totally focused on resale value.

To each their own I think it's human nature to place personal value more on what either cost more or is worth more or both. Say I have 2 whiskeys, bought both for $50 10 years ago, taste level wise on the same level. One is common, and still worth $50. The other is rare and difficult to find, only able to be bought on the secondary market for $150-200. Therefore, I value one more than the other in as far as keeping the item and drinking it, even though both essentially cost me the same amount and I purchased both with the same intent. And when I drink with friends, they treat the more expensive whiskey the same, knowing its rarity, while the cheaper whiskeys they're more inclined to drink it as a "well". Watches, cars, baseball cards, etc. are all treated by people the same way. You'd treat a 50 year old clunker that appreciated in value to $1,000,000 differently than you would treat a clunker that didn't and is worth $100. A rookie mickey mantle card treated differently than a hoser crisco card

A friend of mine purchased 2 rolex's from this "grey market" dealer as well.. a couple of years ago and they've appreciated in value since. He 's moving closed to our are and wanted to buy a condo ... he might sell the watch to purchase it.

As far as toys go , it's not a bad investment..as long as those numbers hold up.

I've said this before, but it's worth repeating. Rolexes, like all other collectibles (and everything else for that matter) will rise in price in good economic times when people have money. If the economy crashes 2008 style, the value of rolexes, stocks, condos, luxury clothing, pretty much everything will take a nosedive. Items that are purely luxury and discretionary in nature like rolexes, exotic cars, etc. will crash especially hard. When people are short on cash is the best time to have cash available to start acquiring these types of items.

[TexasHusker]

Your dad's 1982 Sub is probably worth $10k+ right now depending on condition and if you have the original box and papers.

I distinctly remember the day he bought it. He said "look what I bought...for 500 bucks. So-and-so had two of them...I bought one and "so and so" bought the other."

I don't believe I have the box for it any more, but I recall seeing the box.

It's a good watch. When I moved him to assisted living, I got the watch, because I knew that it wouldn't be long before someone stole it. I felt really guilty about that for a while, but it is by now an heirloom and really not my watch per se. It's my dad's watch, and I think of him every time I look at the time. Someday, it will be my son's watch, and so on.

[Drake3287]

I can relate to your watch situation. Ever since going to Switzerland on our honeymoon 30 years ago I've always wanted a Rolex. For the last 30 years I've stopped at every Rolex store window I've ever passed by. Because of mortgages, children and college costs it was only a dream.

Fast forward 30 years and the house is paid off and our kids our out of college with no loans. I was recently looking again in Rolex windows and I finally decided to do it, wife even agreed! Unfortunately the watch I wanted (GMT II Batman) is also one of the hardest to come by.

The dealer put me on a waiting list for the watch and explained it would take a year or so to get which is typical. Surprisingly a month later they called and said my watch was ready for me. Apparently everyone on the list ahead of me either already found one or didn't have the money available.

$8,999. plus tax and it's all mine and haven't looked back. And yes, I paid cash. Only expensive present I've ever bought myself.

[tripods68]

If it make a difference...the Most expensive watch I have ever bought Garmin 620 great for running and biking for $399.00 plus tax. 😎

[corn18]

I can relate to your watch situation. Ever since going to Switzerland on our honeymoon 30 years ago I've always wanted a Rolex. For the last 30 years I've stopped at every Rolex store window I've ever passed by. Because of mortgages, children and college costs it was only a dream.

Fast forward 30 years and the house is paid off and our kids our out of college with no loans. I was recently looking again in Rolex windows and I finally decided to do it, wife even agreed! Unfortunately the watch I wanted (GMT II Batman) is also one of the hardest to come by.

The dealer put me on a waiting list for the watch and explained it would take a year or so to get which is typical. Surprisingly a month later they called and said my watch was ready for me. Apparently everyone on the list ahead of me either already found one or didn't have the money available.

$8,999. plus tax and it's all mine and haven't looked back. And yes, I paid cash. Only expensive present I've ever bought myself.

I had a Batman. Very nice watch and I liked the blue and black. I paid retail at a dealer as well. Sold it about 3 months later for more than I paid for it.

[greenskeeper]

"that watch is so hot it's smokin"

"in Philadelphia, it's worth 50 bucks"

[disneysteve]

I paid retail at a dealer as well. Sold it about 3 months later for more than I paid for it.

Did you buy it intent on reselling it?

I think this is something that people who aren't into collecting never quite grasp. In my collecting world (Disney memorabilia), a common strategy was to buy two of something in high demand, keep one for myself, and sell the other one at a profit. Many times, I was able to double my money so that the one I kept was essentially free. In some cases, I was able to get a few of an item and sell all but one which I kept, making a decent profit in the process.

[~bs]

^

I think many collectors tend to have an eye on the exit (the residual value) of the items, even if theyre not planning to sell the item. But it's the likely residual value that may push them over the fence when deciding to buy 1 or more of the item. And many collectors are experts enough in the field that they can make these decisions quite easily with little risk.

Say there's a LE lego set for $100. The collector may like it enough to purchase 1 set... but if they know that the value is highly likely to double or triple in the next year or two. So purchases 1 to assemble, then another 1 or 2 to sell and essentially fund their hobby for free.

[TexasHusker]

Your dad's 1982 Sub is probably worth $10k+ right now depending on condition and if you have the original box and papers.

Wow you are right! I am shocked how much the thing has gone up in value in just the last few years!

That's over 9 percent appreciation per year!

[rennigade]

Wow you are right! I am shocked how much the thing has gone up in value in just the last few years!

That's over 9 percent appreciation per year!

Does that mean you're going stop investing in real estate and start investing in watches? 97guns would be upset with you.

[TexasHusker]

Does that mean you're going stop investing in real estate and start investing in watches? 97guns would be upset with you.

No, but I might have to buy another watch or two!

[corn18]

Wow you are right! I am shocked how much the thing has gone up in value in just the last few years!

That's over 9 percent appreciation per year!

If you post a pic of the watch face and tell me what the model number is, I can give you a good idea what the market is. I'm guessing it is a 1660 and if it has the matte face, it is very collectible right now. Not that you would sell it, but you might want to insure it.