Quote:
Originally Posted by jimmymcgill8
I bought:
Cartier $5.2K after taxes, sold for $2.8k (first watch, bought retail)
Omega $5K, sold for $3K
GP $8.5K, sold for 6.5K
Rolex $18K, sold for 14K (bought from a reputable but expensive dealer bc I was worried about counterfeit Rolexes)
$10.4K lost… why tf would I lie about losing money on watches lol
I’m not proud of it and I’m sure I made plenty of mistakes
If you’re asking more about my mindset for why’d I sell them…
I sold the Cartier bc I wore it 2x in 6mo after I got the Omega and Rolex
I sold the Omega bc I got in my head that I really wanted an integrated steel watch and I didn’t think I’d wear the omega if I had it
I sold the GP because I really disliked it, considered getting a Rolex Explorer or OP or even Sub, but decided I needed to take a break on buying
Sold the Day-Date because I got bored of it and that was the final straw for me to say I need to stop buying relatively expensive watches and move towards cheap ones
There's actually a way to buy watches and have them keep their resale value over time. I know some people who made a killing because of covid price jumps. You can swing-trade watches but just understand that you might get stuck holding the bag for a while. Don't sell when it's down so much. Inflation alone benefits you if you keep everything in good shape and only stick with brands that keep their resale value. (I'm not reading your wall of text and I am assuming you are not buying new. If you are buying new, none of this applies to you.)
There's also the possibility that you don't negotiate well when you are buying and selling. Unless you desperately need the money or the watch, hold out for a good deal. Treat it like poker and only make a move when you're in a favorable spot. The research it takes to do that is basically watch porn, which everybody loves.
I'm not saying this to insult you or discourage you, but to help you keep wearing a nice watch, as a gentleman should.
