Should I care about luxury watches?

Speaking from my own experience nothing makes a watch worth spending 10k+ on any watch.

I've been in the game for many years. My afffinity for watches started in the early 60's and was influenced by my dads watches. I eventually went through a number of different style Timex watches and then an occasional Caravelle and some Sears branded watches and onto  a Texas Instruments digital. All pretty unspectacular stuff but it was a start.

As I got older I got more serious and got my first Tag, then a Breitling, then an Omega (or three) and even a Chopard.

I was out of control for awhile before I realized that I liked watches and it didn't matter what they cost.

I have sold many of my high dollar watches when I realized that cost doesn't equual enjoyment. I still have a number of 4 figure watches but I get the same enjoyment from 2 figure watches as I do from 4 figure watches. It's about what you like, not what you paid.

And that’s the thing, right? I have a Casio that cost me the same as 2 packs of smokes, and I love wearing it as much as I do a watch that costs 50x the price of that one. 

Many of the clients that came to our shops that spent $10k+ on a watch was for an important "I made it" purchase. A major promotion, a successful business deal, an engagement, etc etc. There were also a lot of parents buying their sons and daughters special timepieces too - graduations and/or engagement and wedding gift. Plus, we can't forget married couples that bought their significant others expensive watches for special anniversaries. There were also plenty of businessmen  that bought expensive watches for their top clients. This was in the Middle East, and gift gifting (especially watches) is part of the culture. 

The running theme here is that a special occasion deserved a luxury watch. It was deemed worthy to celebrate a special occasion. 

These weren't careless indulgences but purchases that were thoughtfully made for important moments -- and totally worth it for them.  I sound like an ad, but that was the psychology behind many of the purchases I witnessed. 

The other serious purchases were done by serious collectors (especially for Patek pieces) and it was a smaller (but mighty) group of gentlemen that were trying to out-buy the others. Total bragging rights and great for business! ahahah

I understand the symbology of it. Or, I guess I should say I understand that it’s a form of symbology to some. We all have some sort of totemic relationship with an arbitrary object, and I’m no different. I just can’t identify with that particular one, I suppose. 

Feel the same . Just buy what you enjoy. I enjoy some of my cheaper pieces more than my more expensive ones. My most expensive piece was 2.5k used or 4k new. I always tend to buy used and get a great price. I think once you spend over 5k , it's hard to justify the value for money . But if your loaded , then that's not an issue. Do try to try them on before spending too much on one, as you might not like it in person , if you buy blind online. That's why there are loads on the grey market because people buy online , without any experience of the watch personally. 

Yes exactly. Up to a certain point, you clearly see where the extra money is going, and I still very much want a Tudor 1926 from Santa come Christmas. Like you said, though, beyond a certain limit I have a hard time thinking it’s worth it from a value standpoint. Maybe I’m just a Philistine, though. 🤷‍♂️

Yo, dude, I feel like you and I know each other well enough now that I can be real, without feeling too judged.  Ha!

My experience is that it's all relative.  

• When I was growing up, we NEVER ordered Coca-Cola or Pepsi or whatever when we went out to eat - which was almost never.  Why?  Because why the F*&^ would I pay $1 for a glass of Coke, when with a coupon in hand I could get a 2 liter bottle from the grocery store for the same price???  I mean, I saw all these clowns at restaurants paying $1 for a glass of Coca-Cola, but they were clowns!  Now, my family, we were new immigrants, living off of government cheese.  So, it was inconceivable to me to order a glass of Coca-Cola for $1
• Then, many years later, I graduated college, got a job, and started earning what was to me an absolutely crazy amount of money.  I was making $34k a year.  So, whenever I went to In-n-Out Burger, if I felt like it, I would get a Coca-Cola.  And it felt like a wild indulgence!  My ancestors would turn over in their graves, if they knew that I was paying $2 for a LARGE Coca-Cola!  Meanwhile, I would see all these clowns who would go out to bars and clubs, and spend $5 on an alcoholic drink.  Why the F*&^ would you pay $5 for an alcoholic drink when you could buy a bottle of the stuff for $15???  It was inconceivable to me
• Then, many years later, I completed graduate school, got a hoity-toity job, and started earning the kind of money that previously I thought only people with the last name "Kennedy" earned.  Next thing you know, I'm going to bars and ordering $5 whiskey sours!  But, I wasn't like those clowns I saw who would spend $70k on a Porsche.  I mean, those jokers had no F*&^ing clue what money was worth.  And, well, you know the sayings: "Some people have more money than sense" and "A fool and his money are soon parted."  Absolutely inconceivable to me!
• Then, many years later, I open up my brokerage account, and I discover that consistently contributing month-after-month, year-after-year to a low cost index fund, like the Vanguard S&P500, results in compounded annual returns...  which results in a really big number.  Well, the number is really big.  And a Porsche Cayman T only costs $70k, so why not?  And, that luxury watch that I really like?  It costs $10k.  Which is a ridiculous amount of money.  But, $10k is only a tiny, tiny fraction of the number on the brokerage statement, and the job is steady, and the restricted stock units continue to vest...  so, why the hell not?  But, I'm not like those clowns who spend nearly $1M on a Prestige Flybridge 420 yacht
• And so on and so forth...

Did you know that earning $30k/year puts you into the global 1%?  I'm sure that if a villager in Xinjiang heard about the stuff that an American earning $30k/year buys, that Xinjiang villager would say, "That is absolutely inconceivable!  There's no value in spending $X on Y good or service!"  

But, it's all relative, yeah?

@OlDirtyBezel @Omeganut One dollar to one person is someone elses thousand dollars to another person.  

Do want you like, earn an honest living, pay your bills and wear want you love!  👊🏽

I just bought an F91W and it really has made me rethink things. 

It was supposed to be a work watch to beat up, but I'm learning how I love functionality over frivolity. 

I'm finding it very difficult to even justify spending over 1k. Especially because I don't want to spend more money on servicing mechanical movements. I've learned to love quartz watches from manufacturers who care like Casio and ones who innovate like Bulova.

Diminishing returns start well below $1,000.  Spending a lot on a watch is not worth it unless you can without having to sacrifice any of the things in life that matter.  

Contemplation is healthy but I think will prove unsuccessful here. Trying to figure out a logical reason why anyone collects anything… whether it’s watches, cars, pokemon cards, or Incan matrimonial headmasks… is going to be impossible, or at best, leave you with an unsatisfying answer that won’t be universal.

A person who happily wears/collects Seikos could ask a Rolex owner to justify their purchase of a $10k watch. Another person who exclusively uses their phone to tell the time could ask that same Seiko collector to justify their purchase of a $800 watch. Its all relative in the end.

These are luxury items not necessities. If we try hard enough, I am sure could boil many purchase decisions down into a game of: is this really necessary and would my money be better served doing something altruistic. But again, you are trying apply reason to something that is by its very nature is illogical. That said, it’s good to reflect on your own decisions and ensure you feel comfortable with them.

The best thing any of us can can do is live within our means. If we can’t afford it… save… and perhaps once we’ve saved all that money, life will provide us a reason to skip the shiny object and choose something else that matters more to us. Good luck finding your reason! 🤙

PS - that photo is uranium level click-bait and hilarious.

spend within your means. that is what is most important. i know of people who take up instalment plans and many months repaying for their grail watch - that is stupidity. i also know of people whose grail watches cost just 10% of their monthly salary, and hence can afford many without worrying. 

lovely pets you have got there btw..haha so cute

If everything going well I have spent 3/4 of the time on earth with what could be considered quality living, with all my sences in place. I, also, come from a region where we are down to earth on how to spend (or rather save) our money. I dare to say I live in a country where this is the case. 
I have always found attraction in, what I consider, beatiful things. However my first 50 years I have enjoyned them from a distance. Before then I didn’t felt they where worth the money for ME. My money went to secure my family, raise 2 kids and save up for a decent retirement. Now I’m in a position where I believe I done that. The kids has now grown up. They have started their own career or at least come a long way studying at university. I have come to a point where I can spend on myself. Watches became my passion when the time was right. Despite my age I have one watch in the the $10k range. It is by far my most expensive watch. Buying it, after 2 years of planning, didn’t make me appreciate my other, less expensive, watches less. Beaty and enjoyment is to be found in every price braquet. Is it worth it? Yes, absolutely, for ME in MY time and place in life.
 

I imagine that the majority of people in the world couldn't ever be able to pay $5,000 for a watch, let alone something much more expensive. I include myself in that number.

If I had that sort of money?  I wouldn't be spending it on a watch. Nor will I ever be saving for one. Why anyone wants to own a watch costing such and incredible sum of money is completely beyond me, whatever the rationalisations offered on this and other sites. It is, I guess, possible to justify the spending of huge amounts of cash - on anything - if you try hard enough. 

I would also imagine that the majority of people in the world couldn't ever be able to pay $500 for a watch. 

The 'buy what you want and what you can afford' mantra, only goes so far. At some point I reckon it becomes morally wrong to spend thousands upon thousands on a piece of jewellery that tells the time. Look around you, see the poverty, see the jobless, see those who are never going to be able to make it in life. 

I can anticipate the objections to these comments already. 'Who are you to tell me what I can and can't do with my money? 'Writing like this is just a symptom of jealousy'. 'You clearly don't have an an aesthetic sense or an appreciation of the finer things in life.' 'You are just trying to stir up trouble'. 'You are clearly a troll.' And so on...

Before you shell out your next $5,000, 50,000 or £100,000, ask yourself if it is the right thing to do. 

I recently had the opportunity to examine, close up, a Patek Phillipe. Price? c£69,000. What to say about it?  It was a lovely watch. Did it look like one of the best watches you could buy?  Not to me it didn't. Would I buy or want one? Most certainly not. 

Just some musings from a low end and ultra low end watch collector who gets great pleasure from his hobby. One of my watches that gives me the most pleasure is a bright red Casio 'square'.  Price? £22 from Amazon. You can get a lot of happiness without shelling out huge amounts of money. Consider keeping it simple.   

I'm pretty sure us folk from the Canadian Prairies are a lot like Mid Westerns in the states. In my 50 plus years on this earth I've only personally met 2 people who owned a Rolex and one of them is from Toronto so it doesn't count. 

Having said that there are some interesting comments on this one I do suspect it's all about perspective, environment, and what each individual values and finds joy from. For me I couldn't rationalize a watch more than $3k but I drop double or triple that one things that would make others roll their eyes.  

The thing that drives me absolutely insane is when someone calls a $2K to $3k watch an "example of a great Entry-Level Luxury Time Piece". For me that's end game.

With regard to:  "Actually, I would be curious to learn if those who purchase the £10K watch (or $13.6K for us Americans :)) are more or less likely to give to charities.  ...to buy a piece of art to support an artist ...to donate or volunteer for food banks."

Thank god this forum is anonymous!  Here are genuine answers to your question:

• I accidentally started a 501(c)(3) community volunteer organization that grew to 50,000+ members with 10+ chapters across the U.S.  We provide volunteer labor to other nonprofits that need the help, like food banks, charity balls and auctions, medical initiatives...  everything you can possibly conceive of where the nonprofit is fighting for some important and good cause.  The organization has been going for 20+ years now.  It's afforded me an incredibly in-depth look at how the nonprofit and charity world works - incentives, finances, actual value delivery versus what's printed on their mission and vision statements, etc., etc.  Based on all this:  I DO NOT GIVE A SINGLE DIME TO ANY CHARITIES OR CAUSES WHATSOEVER.  It's unfortunate, but seeing how the sausage is made, and how charities and nonprofits really behave and why they behave the way they do is incredibly depressing and results in a purely nihilist mindset
• I also do not support any governmental or NGO efforts around poverty reduction, etc., etc., again based on the above, and from personal experience.  Buddy of mine reached out to me to join the "Committee to Save the World," in the U.S. Treasury Department, during the Great Financial Crisis.  He was working under the aegis of Tim Geithner, coordinating all the efforts to "save the economy and America and the world."  I couldn't join him, because my wife and I had just gotten married, and we didn't want the whole long-distance thing, etc., etc.  Based on all the corruption and evil he told me about, it's enough to make one's blood curdle - the funny thing is, every story he told me, he thought they were doing good!  Like, he would tell me endless stories about how how they passed A, B, and C regulations, and the point of each story was, "See how much good we did?"  What he didn't realize, because he'd been so brain-washed, was that everything they were doing was harming the poor and the middle class!  Like, if you simply did the math and worked out the very, very basic logic chain, A, B, and C all screwed America to further enrich the ultra-rich!  It worked out well for him, though.  He immediately got million dollar job offers straight out his regulatory position.  So, no, none of my money goes toward any of that kind of stuff either
• I do give a lot of money to Givedirectly.org, as the money goes DIRECTLY to those in extreme poverty.  Moreover, there is a movement called Effective Altruism (that grew out of the Rationalist Movement), which applies significant analysis to identifying the highest impact way to give
• My wife buys a lot of art, not because she wants to support anyone, but because she likes art.  In the same way that I buy watches - I couldn't care less about supporting anyone, I just like good watches

So, I wish I could give us all a happy, sunny, puppies and rainbows story about how good the world is.  But, unfortunately, the answer is very, very bleak.

Apologies if this post is offensive or triggering or whatever.  Just trying to earnestly answer @ManuallyWound's question.

NOPE! Buy the watch you like, have had a few high end Swiss watches and have sold them all. I'm happy with mid to low tier watches, mainly seiko as I love the look of the older models and find they fit my wrist better than Swiss watches. At the end of the day your the one that has to look at it every day and just because it cost thousands does not mean you will be happy with it.

Well, if there was one topic that could end up knives out, I suppose it was this one. So . . . kudos. If I try to respond individually to all of these, I’m never gonna have dinner. I like dinner, so I‘ll do a blanket response. 
 

Thanks everyone for your thoughtful responses! After reading through all of these, it does seem like it’s all relative. Aspirational is aspirational, and everyone seems to have their own tiers and definition for that. And maybe I just have a guilt complex when it comes to any sort of “treat yo self” situation. I guess if we hold back from being good to ourselves out of a sense of obligation, that’s probably nothing more than a surefire way to be both miserable and resentful. And the hell with that. 
 

I do appreciate hearing all of your takes on this topic, and it’s given me plenty to think about beyond today. Thanks for being such a cool group of people! 

Okay this one I do need to directly respond to, because it speaks a lot to my issues with charities. 
 

Yeah, most of them are kinda scams, aren‘t they? Anymore, I’d much rather volunteer my time than donate to some shady “charity.” If you help build someone a shed, you know exactly where that effort went. 

"Most of them are kinda scams" ? Do you really believe this?  Painting all charities with the same brush is like saying that all watch collectors are exactly the same, and we know nothing could be further from the truth.

I have no doubt that some organizations that are registered as charitable organizations may indeed be shady, and maybe I'm just being naïve, but I'd like to think that they are in the minority.  

If you are indeed volunteering your time on a regular, on going basis, then hats off to you - I have a lot of respect for people who do so.  Not all charities need volunteers as much as they need money though, and I feel that everyone who is able to help out should be doing so in whatever way they can. 

Well, I didn’t say “all.” I said “most.” I was also being a little hyperbolic for effect, though admittedly that is hard to convey on the internet. I guess what I really meant is that it’s often so hard to tell which ones are on the up and up, and we hear so often about so-called “charitable” organizations just being tax-free personal piggy banks, that it often feels like most of them are shady. 
 

I don’t really want to go into personal details, but I will say that I do my share and then some - from putting on fundraisers to boots-on-the-ground hard work. And if I give money and time to an organization, I make damn sure it’s an ethical one first, and then I choose places where there are little to no middle men between my money and the actual work it’s supporting. 

I agree wholeheartedly that due diligence is needed. I certainly don't want to find out that my hard earned dollars are being used to pad the coffers of some morally bankrupt a**holes, and I also want to know that the lions share is being used for its intended purpose and not for padded administrative costs. I see so much value in what so many worthwhile charities do that I sometimes get defensive when I hear people try to justify why they aren't personally helping out in some way.

When I used to do door to door canvassing for some charities, I was amazed at the excuses that some people would come up for not being able to donate. There was one home in my neighborhood that, regardless of which cause I was canvassing for, would always give the exact same response - "Oh, your timing is so bad. My husband donated today at the office". 

I apologize if I came off wrong - as I said, I admire people who volunteer their time, and I applaud you for what you do. 

Maybe that home was uncomfortable with having strangers knock on their door, and chose the easiest, non-confrontational way to get someone to leave. 

Maybe they donate to other causes, and didn't want the whole speech, so they just shut it down with "Oh, I already gave". 

Maybe they were just people who don't care about the charity/charities you were canvasing for, and chose the easiest, non-confrontational way to get you to leave. 

Maybe it was a combination of some, or all of the above...  

There are lots of reasons people chose to give, or not give to charities, and it's entirely their right to make those choices. Just like it's a person's choice to buy luxury watches, or not buy luxury watches. 

No worries at all. Tone is hard enough to convey via text—even more so when the subject is one that sparks passions and hits on core ideals. I took no offense, and I hope you didn’t either. 

No offense taken at all - it's all good.👍 

I'd agree with your sentiment, it's a diminishing returns situation.

Once you get past the $4k-$5k mark (or maybe even less) you are paying for details that are less and less noticeable, even to watch lovers.

I got into watches due to an OCD with timetables. I know how long it takes me to get myself ready. I review route times for trips. I can't be late for appointments. It's annoying, trust me. Ask my wife.

That lead to always wearing a watch. Which moved to having different watches for different occasions. And down the rabbit hole I went. 

The thing is, I don't have a watch that cost over $500. I don't see the point. (I know I'll get some hate for this) my Invicta pro diver looks very similar to a Submariner and tells the time just as well. The point is, I don't see a reason to spend 4 digits on a watch, when I can spend under 500 and get something similar. Don't get me wrong, I'd love an Omega, or Breitling. I just couldn't bring myself to spend that much money when I could get something similar and have money left over for other styles of watches.

That's my long winded 2 cents.

This is where the hobby gets complicated. Spending even $100 on a watch could be considered unethical when that money could have gone to a charity. The moral dilemma is the same at $1,000 but may feel more outside of social norms and therefore more guilt-inducing. I would counter that it is conceivably even more unethical and selfish to SAVE money than it is to SPEND it, and therefore you’d have been violating your stringent morals even without buying said expensive watch. By saving money, you are hoarding it from others in order to protect your own personal financial stability, whereas by spending it (however frivolously) you are helping support others jobs and their financial stability. It is easy to see how applying this level of scrutiny to every action you make would drive you crazy. I maintain that it is okay to treat yourself a little now and then, but determining what level becomes excessive is personal. Personally, I have justified purchasing several higher-priced (for me) pieces of art since it enables the creator to continue to pursue their passion. I could see myself buying a higher-end independent watch some day under similar logic, but I may be more hesitant to do so with bigger brands.

Speaking as someone who does earn around 30k/year USD in a third world country, I can say that I am exasperated at (ENVIOUS of!) the kinds of shenanigans first world get away with. By first world standards, that 30k probably means poverty. To me, where I live and the amount of money majority of the population earn, I am filthy rich. They don't mind telling me how exasperated (ENVIOUS!) they get when they see someone like me squander thousands of actual US dollars on things that you put on your wrist to tell you the time of the day. I get it, if I were in their shoes, I can't be happy learning that someone just spent what is essentially the equivalent of my year's salary on a piece of something that can't be eaten. Where's the justice in that? 

But I do earn 30k/year and there's nothing they can do about that. My struggles are different than theirs. Mine might be vapid compared to the "survival" struggles 99% of my country's population have, but they are MY struggles. And to me, "luxury" watches matter because of how difficult it is to acquire them with my 30k/year. I am working hard to get my second Omega (and it doesn't count if it's not a brand new one). No, getting that Omega doesn't make me successful or a better person or even content. But it's a signal TO ME that I'm doing all right in the world and it boosts my confidence like nothing else. No, one shouldn't base their self-worth on a watch, but at the same time, do you think winning an award or getting chosen to eat with the president of a country does? 

We're all little animals rage rage raging against the dying of the light, looking for some meaning to life. No, an Omega doesn't define me but the steps I need to take, the hard work I need to put in, the self-deprivation I need to stick, in order to get that Omega does define me--and I will wear that on my wrist for all to see whether they care or do not.