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Hi guys, Bit of a newbie question I'm afraid. Are the people on here who care about residuals all serial flippers? Or are you not confident you know what you like? I ask as it seems to come up all the time on here and I personally have no real interest in the residual when I buy a watch, only that I like it and it represents good value compared to similar alternatives...
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There will be many reasons, but most people long into buying also occasionally sell. So it can be important to buy at the right price. That may still mean a lose, as I tend to achieve on most non-Rolex purchases, but at least the losses aren't more than the enjoyment.
It it would be best to buy something you really like, for the best price and then just forget about residuals - but there is a reason you don't buy Ebel, GP, etc. Etc. At full RRP
If you keep watches, residuals are indeed irrelevant. But TZ people are not 'typical' and many are flippers...I have been recently. That inevitably distorts your view.....and leads to collections consisting only of sports Rolex models.
Which is, I think, dreary.
And therein lies my confusion, if you make watch choices with residuals in mind, you'll like end up with a collection of sports rolex watches and ignore other gems from jlc (a brand that seems all but forgotten on the forum) iwc, zenith, etc etc...
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Tastes change.
I have to date sold only 1 watch and it represented not even 5% of the value of my collection. That doesn't stop me caring about residuals as I know that in the next 40-50 years I hopefully have left on this earth, my tastes will change and i'll inevitably want to let go of watches I no longer bond with. I'd rather do that without writing off the value of the watch completely.
Correct but everyone has a choice. You just make the one that suits you. Personally I'll only ever buy if a) I like the watch a lot and b) if it has a reasonable residual value as tastes can change. If I liked a 'gem' that has poor residuals I'd consider pre owned. Just my choices.Quote:
Originally Posted by Strchr03
Do you have the same outlook for cars? Hifi equipment? Furniture? Just seems a little odd to me that many seem to consider it such a priority for watches on this forum, I wonder if they do the same for other purchases of high end goods.Quote:
Originally Posted by Qwerty
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Absolutely. Perhaps not HiFis as i don't own one, but for me cars are a utility, rather than a luxury. That means I buy the car I need, not the car I want. If that were to change and cars became a luxury that I cared about then i'd approach it like I do watches.Quote:
Originally Posted by Strchr03
This being a watch forum, most people here are interested in trying out a lot of watches, and are probably always on the lookout for the next one. Watches can be expensive, so unless you have limitless funds, you can expect to sell some along the way. This doesn't necessarily make you a compulsive flipper, but over the course of a few years most people find their collection evolving, and a few watches often turning into one much nicer one that used to be out of reach. You may end up with some long term keepers, but it tends to be a process. If your intention is to identify and then buy a keeper and hang on to it forever, you should probably buy it and then avoid this forum like the plague!Quote:
Originally Posted by Strchr03
For me it's good to have the reassurance that I will not lose most of my money if I had to sell (for whatever reason: change/upgrade, a more important purchase, financial difficulty etc.). But I really have to like the watch as well and the watch has to suit my wrist too. Without those conditions I wouldn't be interested regardless of how well the watch holds or appreciates in value.
Thanks for the different sides guys. So it seems that a major concern I missed here is that people want to buy watches while they wait/save for the watch they really want. I, on the other hand, prefer to save and get the watch I really want, hence not having bought a watch for around 6-7 years since the last purchase...
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Camera equipement! A non-essential expensive hobby - like watches.Quote:
Originally Posted by Strchr03
As others have said, a good part of it is trying out lots of different watches. I have owned far more watches and tried them over the Past couple of years then I do now, and have enjoyed the experience. If all of those have dropped like a stone in value, I wouldn't have bought and sold so many. I have had watches from many manufacturers including Rolex and the more popular makes as well as JLC, GO, Bulgari and those that are not as strong in residuals. This is why buying secondhand is a good idea as helps residuals.