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Post by Deleted on Apr 10, 2011 15:04:09 GMT -5
I went into the jewelry store yesterday- my husband and I were joking about how they might not let me in since I was bicycling over and would look scruffy, but I packed my fanny pack with an amethyst ring that needed resetting, a pair of 22k gold earrlings that needed to be put on wires (the posts were too thick for me to wear) and a couple of diamonds from Blue Nile to be set with the amethyst, and set off. Sure enough, they let me in and all the salespeople were occupied. A guy near me- 30s, shorts and a T-shirt, very relaxed dress but not as scruffy- was looking at a case of watches. As the saleslady I was talking to told me the setting for the ring would be about $1,000 if I wanted platinum, and I nodded and said, "that's fine", the saleslady showing watches to the guy behind me was saying, "And this one is $24,000 and you can get it in rose gold; would you prefer one with diamonds?"  The guy was just as cool as I was about my puny little $1,000 ring setting. He seemed pretty serious- he was looking at the watches with the giant oversized faces (but no diamonds). You'd think they were marketed to the geriatric set whose eyesight is deteriorating, but I don't think so. DH and I have had a running joke about a $10K men's 18K gold Rolex we saw in a pawn shop years ago; he keeps claiming he covets one. I went home and told him he needs to cast his aspirations higher. |
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Post by Deleted on Apr 10, 2011 15:10:12 GMT -5
Damn! Definitely no recession for that guy...
My wife bought my wedding band for $500 and I am still upset about that 3 years later. I hate wearing jewelry and I can count on one hand the amount of times I wore my wedding band (usually when my ask me to do so).
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Post by Deleted on Apr 10, 2011 15:38:02 GMT -5
Mom used to say, "There's no money, but a bank on every corner." Sorry to get off topic but I always wonder if they come out ahead? In some areas I lived in (current one included) it really seems there is a bank on every single corner, sometimes 2-3 on the same block. Is there really that many people opening accounts, etc to justify the growth? |
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Post by Deleted on Apr 10, 2011 16:16:20 GMT -5
Damn! Definitely no recession for that guy... My wife bought my wedding band for $500 and I am still upset about that 3 years later. I hate wearing jewelry and I can count on one hand the amount of times I wore my wedding band (usually when my wife asks me to do so). Well, he could be putting it on a credit card and planning to make minimum payments every month. (Or that's what I like to tell myself.) My husband isn't big on jewelry, either, which is why the Rolex thing is a joke. If he truly wanted one, we'd make it a financial priority at some point, but the truth is he'd never wear it. I was pleasantly surprised when he wanted to get a wedding band since I didn't have strong feelings either way. We both got very simple platinum bands that didn't cost much at the time and we never take them off. |
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Post by Deleted on Apr 10, 2011 17:41:08 GMT -5
Damn! Definitely no recession for that guy... My wife bought my wedding band for $500 and I am still upset about that 3 years later. I hate wearing jewelry and I can count on one hand the amount of times I wore my wedding band (usually when my wife asks me to do so). Well, he could be putting it on a credit card and planning to make minimum payments every month. (Or that's what I like to tell myself.) My husband isn't big on jewelry, either, which is why the Rolex thing is a joke. If he truly wanted one, we'd make it a financial priority at some point, but the truth is he'd never wear it. I was pleasantly surprised when he wanted to get a wedding band since I didn't have strong feelings either way. We both got very simple platinum bands that didn't cost much at the time and we never take them off. Loll true about the credit card. I don't even wear a watch... But I have two seating in a drawer (birthday gifts). I don't know, I just never like jewelry or the feel of it against me. So a Rolext costing 20k would not impress me since it is not something I aspire to have one day. |
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Elizabeth
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Post by Elizabeth on Apr 10, 2011 21:01:29 GMT -5
I went into the jewelry store yesterday- my husband and I were joking about how they might not let me in since I was bicycling over and would look scruffy, but I packed my fanny pack with an amethyst ring that needed resetting, a pair of 22k gold earrlings that needed to be put on wires (the posts were too thick for me to wear) and a couple of diamonds from Blue Nile to be set with the amethyst, and set off. Sure enough, they let me in and all the salespeople were occupied. A guy near me- 30s, shorts and a T-shirt, very relaxed dress but not as scruffy- was looking at a case of watches. As the saleslady I was talking to told me the setting for the ring would be about $1,000 if I wanted platinum, and I nodded and said, "that's fine", the saleslady showing watches to the guy behind me was saying, "And this one is $24,000 and you can get it in rose gold; would you prefer one with diamonds?" The guy was just as cool as I was about my puny little $1,000 ring setting. He seemed pretty serious- he was looking at the watches with the giant oversized faces (but no diamonds). You'd think they were marketed to the geriatric set whose eyesight is deteriorating, but I don't think so. DH and I have had a running joke about a $10K men's 18K gold Rolex we saw in a pawn shop years ago; he keeps claiming he covets one. I went home and told him he needs to cast his aspirations higher. That kind of spending sounds like a scene from the "Real Housewives of [insert city here]." I always wonder what these people do for a living. |
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Post by ssdawood on Apr 11, 2011 7:19:38 GMT -5
I had to login to answer to this thread.
The watches listed for 24 k and upward never loose value. They are like an investment. You can buy a watch for 24k, wear it for four years and when you get tired you sell it for say 20k.
So in four years you only took a hit of 4k or something. Sometimes you dont even loose money because the MSRP of these watches rise 3 to 6 percent a year. In four years the watch is 12 to 24 percent more than what you paid.
High end watches like Patek, Jlc are for life. They are beautiful timepieces.
I bet your diamond from blue nile will take more depreciation than that watch.
On the other hand we have to enjoy money we make. After all these retirement accounts, investment accounts there has to be a me account.
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Post by ssdawood on Apr 11, 2011 7:24:35 GMT -5
Also not everybody got hit by recession. People who managed money right from the beginning saw their net worth grew. I bet 90% people on this board had net worth increase in the last three years.
So you are right, What recession ?
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Post by Deleted on Apr 11, 2011 7:46:22 GMT -5
I High end watches like Patek, Jlc are for life. They are beautiful timepieces. I bet your diamond from blue nile will take more depreciation than that watch. On the other hand we have to enjoy money we make. After all these retirement accounts, investment accounts there has to be a me account. You're preachin' to the choir, Brother! I have a Rolex we bought at the pawn shop I mentioned; it was $1,500 and I've owned it for 5 years, but it was made in 1984. And when the stock market tanked, my dear husband stayed calm and remarked that all the jewelry I'd bought on my business trips to India over the years was probably holding its value better than the mutual funds. DH and I never went nuts spending during the boom years so we didn't really have to cut back when the investments tanked. I kept my job, he kept his SS and life went on. elizabeth, I believe one of the "Real Housewives of NJ" had to declare real bankruptcy. It's the insistence that everything be top-of-the-line, prestigious brand name, that gets you into trouble unless your last name is Trump and even then it's an empty life. I have one pair of $400 shoes. They're the coolest shoes I've ever owned, and I love wearing them, but if I had a whole closet full of them they wouldn't feel special at all. |
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RoadToRiches
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Post by RoadToRiches on Apr 11, 2011 7:59:40 GMT -5
24k for a watch. That's awesome! I wish I was in that guys position to be able to buy watch with that price tag. Nothing wrong with that. If he has money to spend on a watch, then hell, spend it! Some people could be saying to your $1000 ring settings... |
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ontrack
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Post by ontrack on Apr 11, 2011 8:12:08 GMT -5
I The watches listed for 24 k and upward never loose value. They are like an investment. You can buy a watch for 24k, wear it for four years and when you get tired you sell it for say 20k. So in four years you only took a hit of 4k or something. Sometimes you dont even loose money because the MSRP of these watches rise 3 to 6 percent a year. Sorry, but this is one of my pet peeves I see on this board all the time--so many people confuse loose with lose. A child's tooth can be loose, but a watch doesn't "loose" value, it loses it--rant over. |
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Post by ssdawood on Apr 11, 2011 8:14:46 GMT -5
Lol thanks English is not my first language.
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Post by Deleted on Apr 11, 2011 10:00:35 GMT -5
If he has money to spend on a watch, then hell, spend it! Some people could be saying to your $1000 ring settings... I absolutely agree. My mother isn't crazy about jewelry and the only good pieces she has are ones my Dad got her. I, on the other hand, have been buying shiny stuff since I got my first real job out of college. It's just been one of my priorities after paying my bills and saving for retirement. For me a $24K watch isn't out of the question financially but I wouldn't enjoy it any more than my classic used Rolex, so I stick with what I have. |
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Post by Deleted on Apr 11, 2011 11:01:24 GMT -5
"The watches listed for 24 k and upward never loose value. They are like an investment. You can buy a watch for 24k, wear it for four years and when you get tired you sell it for say 20k."
I don't have a problem with your English, many native speakers have the same problem. But my math still says that buying something for 24k and selling it for 20k is still losing money even if it's "only" a $1k a year.
I'm thinking my 10 year old $20 Timex is a far better "investment" even if I give it away.
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Post by Deleted on Apr 11, 2011 11:21:44 GMT -5
I'm thinking my 10 year old $20 Timex is a far better "investment" even if I give it away. Yeah, DH is fond of poking fun at my Rolex, which tends to run a little slow and needs correction periodically, while his drugstore Timex is accurate! |
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Post by soon2bmomof3 on Apr 11, 2011 11:35:36 GMT -5
Only about 14 years and a few days of work until I get my free Rolex...  |
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morrisr2d2
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Post by morrisr2d2 on Apr 11, 2011 11:43:07 GMT -5
Watches are kinda like a man's version of jewelry. I would be afraid of wearing something so expensive. I lose and break things too much. And I thought my $500 Burberry watch splurge was a lot!
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Post by ssdawood on Apr 11, 2011 11:49:37 GMT -5
Bonnap sure Timex is a better investment but you dont like watches.
Is there anything you splurge on, or its just make money, work like a dog and then save money.
Is there anything you can say I like watches, jewelry, clothes, handbag etc.
Balance is the key.
Yes I lost money 4000 dollars in 48 months, thats less than 83.33 dollars a month. What good is all this retirement saving and investment accounts if I cant spend 83.33 dollars a month on myself.
Comeon you must spend 83 dollars on yourself on something.
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Post by ssdawood on Apr 11, 2011 11:56:10 GMT -5
Maybe my usage of word investment was wrong. Sorry its not an investment .
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Post by Deleted on Apr 11, 2011 11:58:06 GMT -5
Balance is the key. Yes I lost money 4000 dollars in 48 months, that's less than 83.33 dollars a month. What good is all this retirement saving and investment accounts if I can't spend 83.33 dollars a month on myself? Come on you must spend 83 dollars on yourself on something. I think this crowd is pretty good on balance. A couple of weeks ago I gave a Toastmasters speech in which I quoted the Spanish proverb, "Nadie te quita lo bailado"- "Nobody can take away what you've danced". I talked about the drop our investments took in the crash and how I felt better when I remembered all the fun things we'd done with some of the money. I would have felt much worse if I'd done without anything fun and all our prudent investments were in the tank. The numbers are looking better again. And we leave for Spain 3 weeks from today. ;D |
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Post by Deleted on Apr 11, 2011 14:14:45 GMT -5
"Yeah, DH is fond of poking fun at my Rolex, which tends to run a little slow and needs correction periodically, while his drugstore Timex is accurate." My experience as well. Of all the watches I've owned/own this has been the best one. "Maybe my usage of word investment was wrong. Sorry its not an investment."  Money is simply a tool to get you where you want. We all have different interests and wants. But understanding that jewelry or art isn't necessarily an investment but something you love puts you in a different mindset. It may appreciate; it may be worthless. But you buy it because you enjoy it. We came back from 2 weeks in Turkey where we wasted a bunch of money on carpets! ;D |
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Post by Deleted on Apr 11, 2011 14:59:34 GMT -5
Watches are kinda like a man's version of jewelry. Yeah, my Ex swore he didn't wear body jewelry and refused to wear a wedding band. Then he saw a Jaeger-le-Coultre watch with a moving moon-phase dial in the New Yorker. It was $7,000 and that was 1984. He got a credit card offering with a $7K credit line shortly thereafter. Coincidence? He thought not. He bought it and I have to admit it was a spectacular watch. He was so proud of it, especially when the guy who worked at the jeweler where would take it in for overhauls would say in his gorgeous Hungarian accent, "I LOVE zis vatch". Unfortunately, things got rough for him after the divorce- he didn't even try to get a job and eventually ran through the $100K he'd gotten as his share of the equity in the house. He sold the watch- I think it broke his heart. Which is why I don't assume that anyone with flashy jewelry can afford it or will be able to hold onto it. Some will, but appearances can be deceiving. Edited to add: I got curious what that watch would go for now. This e-Bay listing is darn close. cgi.ebay.com/Jaeger-LeCoultre-Master-Control-Perpetual-Rose-gold-/320664061625?pt=Wristwatches&hash=item4aa91146b9 |
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8 Bit WWBG
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Post by 8 Bit WWBG on Apr 11, 2011 16:18:20 GMT -5
I felt the same way when I bought DF's ring. I spent a lot more than many do, but certainly nowhere near enough to make me a "special" customer. I too was thinking "what recession".
...:::"Then he saw a Jaeger-le-Coultre watch":::...
My Dad had one (he could afford it though) and it unfortunately got stolen. It was indeed a very beautiful watch, and mechanical. He used to tease his breitling wearing friend about wearing a "digital" watch.
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Elizabeth
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Post by Elizabeth on Apr 11, 2011 18:31:59 GMT -5
"elizabeth, I believe one of the "Real Housewives of NJ" had to declare real bankruptcy. It's the insistence that everything be top-of-the-line, prestigious brand name, that gets you into trouble unless your last name is Trump and even then it's an empty life. I have one pair of $400 shoes. They're the coolest shoes I've ever owned, and I love wearing them, but if I had a whole closet full of them they wouldn't feel special at all. "
I agree with you 100%. I think a lot of them have some financial difficulties now. But it's funny because even though they say they are broke they have personal assistants, in home make up artists and hairdressers, and beautiful homes. I think, what am I missing here? LOL!
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The guy was just as cool as I was about my puny little $1,000 ring setting. He seemed pretty serious- he was looking at the watches with the giant oversized faces (but no diamonds). You'd think they were marketed to the geriatric set whose eyesight is deteriorating, but I don't think so. 
