How you decided to part with the money to get a rolex?

[Cessna]

My thoughts

Hi Ms Lucida. Just my humble thoughts. Luxury item or branded items are for people who can really afford it. Their spending power must be way above what they can earn within one month. As to why people buy rolex, it is the same question as why people buy and keep wine or driving a luxury car. It is difficult to comprehend why, except that they can really afford it.

Just to share, got a childhood friend who does not have children and stay with the wife, does not own a car but stay in a rather upmarket apartment. He does not even own any branded watches ( not even rolex ) neither does he own any diamonds on his own. He just share with us 6 bottle of his Dom perignom, age around 73. One bottle would easily goes in the thousand ( I think ). Imagine drinking six bottle of the champagne and it will be pass out in the morning or probably in the middle of the night into the sewer. How do you part with few thousand dollars on a bottle? That is why, to each its own. If you think that by buying something that you like and you can afford it. Why not! Every one has a choice and a reason to doing something. If you think you can buy a rolex even though you might have to squeeze yourself through. Probably, that will motivate you to even earn more to achieve a even higher goal. But there again, if you have other burden, then it is best to set your priority right. It is never to late as long as you are able to keep your dream alive. BTW. Congrat to your new born. FYI, when your child reaches 21 years old and going to overseas university during that time, you might have to allocate approximately S$300K+ base on the time value of money estimated by the bank. um...not forgeting your retirement funds also.

Sincerely, would love to wait for you to share your first rollie overhere. Cheers

[Mio]

My findings today ...went around to sell our 1 week old Rolex watches at Chinatown

Hello & dear friends,

Hope it is not to late to share share some of my findings today at Chinatown. Before u decide to part your hard earned $$ to ease this desire...pls take some time to read my story....

But first of all, need to have some disclaiming guidelines first; the prices disclosed and discussed here are the findings and enquiries from 2nd hand shops I have visited today, and I m not acquantied to those dealers (U may have a higher resale price than me if u know them better).

The prices discussed here are not intended to jeopardize or sabotage any of the sales here..I believed that the current economic outlook has indubitable caused/influenced the reasale value of our precious timepieces


Lets start ...

My friend and I have recently bought 2 brand new Rolex watches; Submariner 16610 and Daytona 116520 (V serial, local AD) in fact we just got it last week. So we decided to go down to Chinatown to survey/inquiry/probe how much will our watches worth after wearing it for a week (and also to bling bling our new watches lah ) . Of course we don't buy the watches for the sake of selling it, neither with the naive thought that we will earn some $$ out of it, the intention was solely to find out, what will be the resale prices and to have fun

First stop.

We went to x0x preowned shop, and the sale girls greeted up promptly, we made known of our intentions to them, within seconds their boss came out from a room....

We told him that our boxes were in the car and we have brought the green cards along, he examined the cards and asked how much we bought the watches as it was from a local AD and how much we have in mind to sell. Then he asked if we were interested to trade up, if intended to sell away what was our $$ in mind, we told him we were uncertain and requested for a quote...after he has examined the first watch> > The Submariner, he offered us $5500 for it. The daytona watch, he offered $11,500 both of us nearly fainted .... we never expect to lose so much

We rejected his offers and he tried to persuade us a by saying that times are bad (can give us another 1 to 2 hundreds more if we deal now) and quoted some of their selling prices on the display to justify his claim/point. He presented his namecard to us and kept reminding us that if there are some higher offers by others, kindly give him a call to discuss. We agreed and left..

So, the first shop is buying back from us at:

Submariner = $5500 + (maybe another 1 to 2 hundreds more)
Daytona = $11,500 + (maybe another 1 to 2 hundreds more)

2nd Stop

We continued our mission to another shop at Chinatown Point ..the boss was very sharp, the first question to us was : " what are the best quotes that u got so far ?"

Sorry folks.. to be continued tomorrow ok, need to babysit my son now.........

[Oceanklassik]

Interesting. A little suggestion to you: You may also consider posing as a 'potential buyer' and ask around for the exact same pieces you have mentioned, with other pre-own shops. Then you'll be 'amazed' how much they will earn for each piece.

[seiko.citizen]

...
2nd Stop

We continued our mission to another shop at Chinatown Point ..the boss was very sharp, the first question to us was : " what are the best quotes that u got so far ?"

Sorry folks.. to be continued tomorrow ok, need to babysit my son now.........

i like this fella method. saves the dicking around quoting you a price, only to walk away. you gimmie your best price, if i can offer more, i buy; if not, ill tell you no. easy done!

[Darkangel]

Not surprising lah for the 2 watches...

They have to make a living also...

[1000g]

Hello & dear friends,

Hope it is not to late to share share some of my findings today at Chinatown. Before u decide to part your hard earned $$ to ease this desire...pls take some time to read my story....

But first of all, need to have some disclaiming guidelines first; the prices disclosed and discussed here are the findings and enquiries from 2nd hand shops I have visited today, and I m not acquantied to those dealers (U may have a higher resale price than me if u know them better).

The prices discussed here are not intended to jeopardize or sabotage any of the sales here..I believed that the current economic outlook has indubitable caused/influenced the reasale value of our precious timepieces


Lets start ...

My friend and I have recently bought 2 brand new Rolex watches; Submariner 16610 and Daytona 116520 (V serial, local AD) in fact we just got it last week. So we decided to go down to Chinatown to survey/inquiry/probe how much will our watches worth after wearing it for a week (and also to bling bling our new watches lah ) . Of course we don't buy the watches for the sake of selling it, neither with the naive thought that we will earn some $$ out of it, the intention was solely to find out, what will be the resale prices and to have fun

First stop.

We went to x0x preowned shop, and the sale girls greeted up promptly, we made known of our intentions to them, within seconds their boss came out from a room....

We told him that our boxes were in the car and we have brought the green cards along, he examined the cards and asked how much we bought the watches as it was from a local AD and how much we have in mind to sell. Then he asked if we were interested to trade up, if intended to sell away what was our $$ in mind, we told him we were uncertain and requested for a quote...after he has examined the first watch> > The Submariner, he offered us $5500 for it. The daytona watch, he offered $11,500 both of us nearly fainted .... we never expect to lose so much

We rejected his offers and he tried to persuade us a by saying that times are bad (can give us another 1 to 2 hundreds more if we deal now) and quoted some of their selling prices on the display to justify his claim/point. He presented his namecard to us and kept reminding us that if there are some higher offers by others, kindly give him a call to discuss. We agreed and left..

So, the first shop is buying back from us at:

Submariner = $5500 + (maybe another 1 to 2 hundreds more)
Daytona = $11,500 + (maybe another 1 to 2 hundreds more)

2nd Stop

We continued our mission to another shop at Chinatown Point ..the boss was very sharp, the first question to us was : " what are the best quotes that u got so far ?"

Sorry folks.. to be continued tomorrow ok, need to babysit my son now.........

Not too bad already, I had somebody offering $1K for my AP Roo Scuba Boutique Edition before.

[dennistwc]

Not too bad already, I had somebody offering $1K for my AP Roo Scuba Boutique Edition before.

come to me..i offer u $1k x 500%....

[Mio]

Story continues .....

2nd Stop

We continued our mission to another shop at Chinatown Point ..the boss was very sharp, the first question to us was : " what are the best quotes that u got so far ?"

Sorry folks.. to be continued tomorrow ok, need to babysit my son now.........

continues.....

We told him that we have received the quotes (as above) from another shop and the prices are ..later he asked about the boxes, the warranty card and whether we still retain the receipts and so on. Finally, the $$$ ...... offered to buy our timepieces :

Submariner = $5750
Daytona = $11,650

The first sentence that we uttered after hearing the quotes was " har, so low boss, we liao luii". Looked at each other....stargaze state...

We tried to divert the topic by asking some service & repair Qus..as we saw a small repair corner in the room, talked about basic maintenance of watches/movements.....n came to know about a fact from the discussion >> don't mess around with the chronograph in daytona, the servicing costs close to $2k at RSC. IF need to replace things like; pinion gear/stem or escapement wheel or parts, the servicing will be above $2k

We thanked him and moved on..and before we went off, he mentioned that the resale values (price quoted from here and there) were almost there as the buying power/demand very weak now, due to the worldwide economic outlooks.


3rd stop....

We went to another shop at Pearl centre, as they have advertised" highest offer for gold, branded watches, pawn tickets....." So we decided to go and have a look, and to our surprise we were invited to a small little room at the shop, in that room there were many many CCTV, weighing tools and a huge microscope on the table (later we found out that the equipment is use to verify/inspect and examine diamonds) we thought that he was a scientist/researcher at first

Hmmm...frankly speaking, this guy was not friendly, and maybe not very professional (my personal opinion), he inspected the 2 watches for more than 10 mins (or more)..and even asked us for the models' numbers. He made a few phone calls and eventually told us to wait 1 hour, as an interested buyer wish to come down to view/examine our watches..

to be continue....

[lawengkeat]

its just a personal choice i suppose....

[Minimalist Zen]

I dun think i will get a preown (at least that's what I think now). It's something i want to get for myself so i want it new.. haha

Monthly installment is an option but again.. I dun like to spend future money. As you all have put it, it's really a want not need... Actually quite regretful to have paid the car using installment cos it's something that is not really necessary but it's really convenient when have it...

Anyway, now after talking about it, the urge not that strong anymore as long as i dun go to another rolex shop I would have almost forgot about wanting to buy a rolex.. perhaps i dun come to this forum also... hmmm...

I think i probably save the money for a trip to Hokkaido next year!! Travelling is still my fav. A watch is just there to tell time...

Hi Lucida,

Getting a preowned piece does not mean it will look old! I have bought a preowned piece for my wife that is almost 99% new as the owner does not wear it at all. It was locked up in the drawers for years. Get a preowned piece to get a feel of the watch first and save the rest of your money for your daily needs. Trade up when you have the spare money. I believe in having a balance of satisfying wants and needs as we are human after all and we need motivation to move on, be it intrinsic or extrinsic. Hope this helps...

[Kohky26]

Or maybe just get a simple omega or longines.. hmm..

Trust me, Rolex still the best! ;-)

Was deciding between Omega or Rolex...and after reading up about the Omega Speedmaster Professional Moonwatch and the rich history...plus watched Tom Hanks in Apollo13 numerous times as to how the Moonwatch saved them in the critical 13 secs burns etc...decided to buy Omega, BUT in the end, the attraction and all the writings inside this forum as well as RolexForum plus numerous other rolex websites pushed me towards getting Rolex...n have not look back since...

Another point I hope you can seriously think about is, try to buy pre-owned and not new...in fact, I was like u too, till I read up from this website as well as others and realised the extra diff of a few $K u can saved buying pre-owned than brand new...end of the day...u r still wearing a Rolex! Read up and equip yourself with more knowledge about Rolex, esp the pricing so that when the day comes for you to buy a BNIB Rolex or pre-owned, u can b proud n sure of yourself making the right choice!

Meanwhile, its good to have want...that's how human society progresses...keep the Rolex hope! Cheers!

Hope it make sense...sharing of my few cents...

[t28]

This thread is 3 years old leh....