Will The Financial Climate Affect Your Purchases in 2023

I am totally with you. Similar situation. And fun as it is collecting one can only wear one watch at a time…

Not really. My 2023 'big purchase' will be funded by selling some other watches, and also a bunch of books. So the money required isn't 'new money'. It's not going to affect my finances.

Other than one possibly big purchase funded by an earmarked gift, having a kid entering college this year (with another in the pipeline) means no funny business for the next 6-10 years unless one or both of them suddenly gain the ability to throw a football in a really tight spiral.

And that‘s all independent of the strictures potentially imposed by general economic/market conditions. Certainly not going to sacrifice anything else (including peace of mind) to purchase watches.

Indeed it will.

There are too many insecurities right now. I'm an economist and statistician. I can't ignore risks. As much as I love watches but we should face risks and reality. A good watch feels nice on my wrist. But a bank account and filled funds during a crisis feels actually much better.

Nobody knows how mucv we have to pay next year for our used heating gas this year. Even we are warned since one year about the energy crisis and to build up savings. But humans have a short memory and are easy distracted. I bet most of goverment and employer help for fighting the inflation went right into christmas gifts.

I had some plans for watches but I will wait till next autmn or winter, when it's clear if we solved the crisis or not.

But I'm not sad about.

If I can't buy a watch, I'm rewarded by keeping my money :-).

And for those who really want a watch there are so nice low price watches. I will soon publish an article about low price german watchbrands most people never heard of.

Funds are finite but bills/costs seem infinite. At the moment I'm OK but later in the year a big change ie redundant. But at the moment I'm enjoying the watch purchase game and I generally go for lower priced in the 2nd hand market items(love a bargain). I'm looking out for the market depression (which should come), especially in the lower end of the market.

I don't think many people who buy top end luxury watches will be affected as the saying goes money gets money,some might even buy low as investments pieces later on , personally I would still purchase 1 of the watches on my wish list should they become available 

I'm at the part of the journey where I'm looking to level up, so prob not.  But for others, I predict brisk business for Aliexpress lol.

As my username implys I will only be buying cheap watches. There are plenty of options in the homage watch zone, plus brands such as Lorus, Timex and Sekonda offering good designs at a reasonable price .

I suppose it depends on what you collect .Aspiring Rolex owners may have to wait for the financial markets to change .

It depends. I tend to buy between 1-2 watches per year funded out of my annual bonus/savings. I'm also in the UK and as noted the cost of everything has gone, forgive the jargon, cuckoo-bananas. I need to get eyes on Q1/Q2 fuel bills which could easily be as much or more than my theoretical watch purchases.

Personally, no. Because I only plan to buy 2 watches and have the money set aside for them. I’m actually already holding back now just to be sure so as far as future watch purchases go, I don’t have to alter my plans. Just exercise a bit of patience. 

I don’t buy a lot of pieces in general. I’m more quality over quantity and I’ve walked away from a lot of desirable pieces, even when I could have bought and left them in the collection. 

No one wants to buy something when they know that those funds could be used for something else more useful during tough times.  Watch collecting should be fun, not stressful

Probably yes, but my list just keeps getting longer anyway.

Probably yes.

The arrival of the Formex Essence 39 earlier this year in my collection has made me reconsider the validity of spending € 6700 on a AQUA TERRA 150 m Co-axial Master Chronometer 38 mm for example.

The Omega is in every way a nice watch, with a much better movement than the bog standard Sellita fitted in the Formex, but at more than 4 times the price, well, I wouldn't pull the trigger

My big purchase of 2023 will be the dornbluth but I’ve already saved up for it so that should be fine. 
No other purchases are planned and hopefully I’ll keep that promise to myself. 

No, probably not. What is holding me back is that I was partially raised by my German grandparents, who lived through WWII, and would hold on to money in any way they could. My own predisposition is restricting my spending.

Just published an hour before 😊

https://www.watchcrunch.com/Uhrologe/posts/affordable-german-watch-brands-22430

Just published an hour before 😊

https://www.watchcrunch.com/Uhrologe/posts/affordable-german-watch-brands-22430

I don't see any evidence that watch industry struggling. In fact all I'm seeing is price rises incoming which is even less reason for me to purchase another luxury watch. Personally I'm unlikely to spend as much over the next 12 months

I’m pretty satisfied with my collection as it is. I do want to try on a Grand Seiko SBGM221 and compare it with my SBGW231. If I like it, I’ll probably buy one used for much cheaper. Other than that, no new watches in 2023. I made a few big purchases in 2022 so I’m not feeling a need for more right now. 

I plan to add 4 watches to my collection next year. I have a deposit down on a Christopher Ward Bell Canto, I should be receiving my green Rolex date Just, I am torn between my next 2 however one will be either a GS birch or the SBGY007 and I rather like the SBGN005G. I am going to Glasgow tomorrow to try a few on (i told the Mrs I’m taking her to Glasgow for the Boxing Day sales so is its a day out dedicated to her 😂😂😂😂😂) so we will see what happens.

Yes, in that I feel more aware of expenses and so for the first time I am implementing a real spending strategy.  This also includes a savings strategy for a grail in 2024.  This is new for me, as I have generally just bought willy-nilly with little to no thought of economics.  I must say, it feels like a good change for me and a habit I will want to continue regardless of the greater financial climate.  I know others are way ahead of me on this, but I have really learned from their thoughts and examples--thankful for that.

I certainly won’t be taking any financial risks over watches in the near future.  Like so many of us I have a mortgage and plenty of bills to pay, but I work for a growing company and in an industry where there is a scarcity of people with my skills.

I’m planning a single, expensive, watch next year - providing I can meet some personal goals and the funds are available.

I have so many watches now, I think I'm okay if I don't buy another watch for a long time. Plus the watches I want run under 500 bucks and I can totally save that up, but historically if I get that money I go on a trip or something.

no.

ill get a second job and/or quit booze for  few months if it required ,for some addtional coins. 

Needs must :p 

It depends on the person of course. 

What do you guys think about buying a watch after 50?  As we age we tend to stick to the timepieces we are comfortable with. I don't plan to add any further after 50.

I won’t be spending big money on another watch , not that I own anything over $2K . I will only spend up to $3K if I purchase another watch then only after I part with something to upgrade .

I think my purchasing office is closed for the foreseeable  future. I’ve just want enjoy what I have - I made some nice ‘new‘ purchases over the past few years & all my needs are very satiated.
I want to take the time to re-evaluate my collection & where I want to go with it. 

LOL. I am 65 and don't recognise what you are saying at all. I have flipped and replaced over 20 watches this year

I'm not as affected by the economic downturn as most are, and that is a true blessing.  But I am still very conscious about my spending on watches.  Not because I don't want to, but because I have other priorities that are gnawing at me.  Currently, in the process of building a forever home for me and my wife, which is eating up all the funds.   

Having said that...over the past week I spent a little and treated myself to a Ball Fireman Enterprise and a Bulova Mil Ships Standard Edition.  😉

I own a Ball Fireman Night Breaker. Great watches