Has the cost of living changed your watch buying habits ?

You are absolutely right , I no longer consider buying retail , either need a big discount or second hand

I agree, watch prices have risen quite significantly. So best way is to save and budget for your purchase over a time period. I try to save 20% of my monthly income towards my grails (Grand Seiko SBGA413 and Omega Speedmaster Professional). But we need to stay strong until that saving continues and not buy side pieces (I am guilty of that) which are cheaper.

Agreed 💯

Yep, the cost of living is starting to bite me harder and harder.

I have a separate bank account as my watch pool and the amount I can afford to put in each month is slowly declining.

My next purchase might be within my reach - second hand - by the end of the year.

It's not easy, if I save hard enough I might have my skmei by years end 🤣

I’m sure, like me, you just love reading posts on WatchCrunch from people asking which Rolex they should buy this month (or should they just go for the Vacheron instead?)

Hey why not get both. Live a little 🤣

Partly because of my own journey, partly cost of living, I’ve slowly pivoted to a quality before quantity approach. “Cheap” watches aren’t that “cheap” anymore all things considered. A “cheap” San Martin is going to be pushing the 200 USD range. That’s a lot of money when you’re in a budget. Now that I have a collection I can build upon, I prefer saving and enjoying the great watches I already have and putting the money towards a quality piece.

Also, always check for deals in the pre-owned market.

Yes, not just income being worth less, but mainly because no one is buying - I've a load I want to sell to put into one watch & it seems like every other watch addict has the same idea!

The market is awash with bargains,which makes it very difficult to sell. (& I rarely seek a profit)

Sorry to hear that. All things have gone up in price in last 2 years so not easy. Have you also get proportional increase on salary level?

Salary is creeping up ever slowly, but tbh just happy to have a job.

Just happy with the small collection I have right now. But always looking for a bargain 😅

Hardly anyone has had income raise proportionally. That’s the main issue here. Inflation wouldn’t matter all that much if we all got raises to offset the inflation. I got a raise last year, but nowhere near the rate of inflation. So while the income raise does help, I’m still further behind the income ladder than I was 3 years ago, due to the rate of inflation. There are some lucky ones that haven’t felt the inflation all that much, but most of the world is really hurting from it right now.

Well like you wrote it depends from company to company. Our government mandated minimum salary increase in level of inflation and simmilar happened to average salary. Our company increased slightly more. With lack of workforce globally there is also an option to switch job for better paid one. But as said it depends on company, country and personal choice.

True true, if I would lose one watch of my collection I couldn't be able to buy it again with how things are going financially at the moment 😐

Agree I’m always searching for a discount nowadays

I would go either for micro-brands with reasonable pricing (like Baltic, Kuoe, etc.) or second-hand.

No luxury brand, that's for sure.

Even if I could afford it without even threatening my finances, I want to save for the future or other priorities.

Save for a quality timepiece and focus on quality over quantity. Watch collecting is a journey not a sprint. Cheers

Usually buy second hand to avoid inflated retail prices and depreciation hit.

I might have splurged a little on a little too many "affordable" watches, but I am at a point where if I do want to get more I better let go of a few in the collection - which I'm not prepared to yet but it's inevitable.

I’m in a similar position now. Just enjoy your current collection and save money until you’re in a position to get the watches you really want. Don’t bother with watches that will only satisfy the collector urge temporarily because they fall within your budget right now.

Me when people call a watch that is half a grand in USD and up “”””affordable”””” or worse “”””””””cheap””””””””

A 50% increase is overkill for Sinn. Inflation was at most like 6%? Rolex increased their prices, but in inflation-adjusted terms, its prices have remained surprisingly steady or even a little under where they historically have been.

Ditto on the wages thing. The national minimum wage here was last updated in 2009 and even back then it was still a bit of a pittance.

It kinda cut me off from the hobby completely as simply buying a watch is not feasible. At what I make most medium and low watches are almost 3~4 months salary ATM. Not to mention increased costs since I'm getting married soon. Third world life do be hitting hard, even if you work as a white colar engineer.

This TBH

Boy I feel this, over half my cheque goes towards rent.

I have a saving account for watch purchases. I’ll break down the cost of the watch and save towards it each month. Before pulling the trigger I look around various ADs/retailers are who is selling the watch at the lowest price. For example TUS watches is an AD of Orient and currently selling the Kamasu for £330. However, Amazon is selling the same watch for £200.

I've never had watch money so yeah I get it. I'm wearing Casio and only two of them (plus one citizen).

Very much so. I used at aspire to perhaps a higher priced watch (£1000ish) now no chance. The big boys are increasing their priced well above inflation. It might backfire as people who would have bought will think twice. But everyone has put their prices up. I started to look at firms like Farer and Zelos, out of my range ! Nodus also etc. Steinhart just about coming in where I can afford for their cheaper models but still £500 + so I have to re-think. Casio and Citizen & Orient affordable for most watches (not all) and the market has priced me there. They do good watches so all ok. I see a lot of very expensive watches on here and fair enough, but most so out of my price range I just look at the watch and don't read the post as I am not in the same league financially.

Agree term "affordable" is relative for sure. Even microbrands are no deals anymore, at $800+ and then some at four-figures, even cheaper ones are near $500 range seems crazy. I always thought micros were helpful in making things reachable. The option to go Chinese mfg is a good choice for those who want affordable with the quality build and specs they desire. Hence, their rise in popularity as of late.

It’s not as relative as people say it is, imo.

You can have a good deal, but there are a million other costs that factor into the price.