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Selling my Rolexes for a condo

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calvincc

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Discussion starter · #1 ·
I have a dilemma. I live in a house in the suburbs and thinking of moving to a condo closer to downtown. This move would require a bigger down payment.

I have a few options:

1) sell my Rolexes so that I could move this year
2) keep my rolexes and continue to save up. Will be a few years before I could move.

I feel like I would be happier if I move. But I also like my watches.

If it matters the Rolexes are 1) ceramic sub date, 2) Batman (1st generation) and 3) 2016 Explorer 1 MK2

What would you do? Do I choose quality of life or watches? I might regret selling the watches now seeing how rolex prices keep going up.






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#2 ·
Do you love all watches equally? Or do you think you can off-load 1 or 2? If they're all in pristine condition, I think you can get them later in life in a similar condition if you really miss them, no?
 
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#4 ·
calvincc said:
I have a dilemma. I live in a house in the suburbs and thinking of moving to a condo closer to downtown. This move would require a bigger down payment.

I have a few options:

1) sell my Rolexes so that I could move this year
2) keep my rolexes and continue to save up. Will be a few years before I could move.

I feel like I would be happier if I move. But I also like my watches.

If it matters the Rolexes are 1) ceramic sub date, 2) Batman (1st generation) and 3) 2016 Explorer 1 MK2

What would you do? Do I choose quality of life or watches? I might regret selling the watches now seeing how rolex prices keep going up.
Click to expand...
First you have to evaluate how important, or how better will be your quality of life. Then, you have to imagine yourself in this new setting without your beloved Rolexes,will you be happier than now?

I don't know the real estate situation where you are, but maybe now is a better time to buy than in a few years; only you can tell.

You say that you might regret selling the watches now seeing prices going up, but at the same time, if the Rolex prices didn't go up, you wouldn't be able to move; consider the price hike as a blessing, not as a obstacle to your plans. Also, even if prices continue to go up, there is a natural limit that can't be exceeded, I mean those are not limited pieces, the Batman has been on the market since 2013, and the Sub C since 2010. Even if in the years to come your watches appreciate by 10K, maybee the condo will be 30K more expensive. Those are hypothetical vague figures, and views, but I hope they can help you in your decision making.
 
#6 ·
calvincc said:
I have a dilemma. I live in a house in the suburbs and thinking of moving to a condo closer to downtown. This move would require a bigger down payment.

I have a few options:

1) sell my Rolexes so that I could move this year
2) keep my rolexes and continue to save up. Will be a few years before I could move.

I feel like I would be happier if I move. But I also like my watches.

If it matters the Rolexes are 1) ceramic sub date, 2) Batman (1st generation) and 3) 2016 Explorer 1 MK2

What would you do? Do I choose quality of life or watches? I might regret selling the watches now seeing how rolex prices keep going up.

Sent from my iPhone using Tapatalk
Click to expand...
Whether you like it or not, this is a question about returns. You can't answer this question without considering them. Ref. 126710BLNR and 116610LN are on an upswing whereas 214270.1 will be constrained. Depending on how urgent the move is, you might want to wait. Prices are going up by hundreds, daily!
 
#9 ·
mak1277 said:
If you have to sell watches to fund the downpayment, can you really afford the condo? Just something to step back and think about.
Click to expand...
Or afford the watches for that matter....
I view watches as small personal (albeit) needless indulgence.....
It doesn't enter any other equation including monetary worth nor living circumstances.
 
#10 ·
calvincc said:
I have a dilemma. I live in a house in the suburbs and thinking of moving to a condo closer to downtown. This move would require a bigger down payment.

I have a few options:

1) sell my Rolexes so that I could move this year
2) keep my rolexes and continue to save up. Will be a few years before I could move.

I feel like I would be happier if I move. But I also like my watches.

If it matters the Rolexes are 1) ceramic sub date, 2) Batman (1st generation) and 3) 2016 Explorer 1 MK2

What would you do? Do I choose quality of life or watches? I might regret selling the watches now seeing how rolex prices keep going up.

Sent from my iPhone using Tapatalk
Click to expand...
If you care to share, what city are you located in?

You could sell the the sub and GMT (as those are worth the most) and keep the explorer. Would get you into the condo a lot sooner and keep a Rolex on your wrist.

I'd personally choose to sell the Batman and Explorer and keep the SubC.
 
#11 ·
It sounds like those 3 watches make up a sizeable percentage of your overall wealth? Without fully knowing your situation (you could have a lot saved up in an IRA or other untouchable accounts), but IF my initial statement is true, then i would have to ask: can you really afford those watches? Just because you can buy/have bought something, doesn’t mean you really can afford it. Might be best to keep at most 1 (your favorite) and sell the rest.

Sorry jf i am way off, but from the limited information, that is the vibe i’m getting.


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#15 ·
If selling 3 replaceable Rolexes is all that's keeping you from affording a condo, go for it! Just run the numbers and if you can realistically swing the mortgage, taxes, insurance, etc. you should be fine.

Good luck!
 
#16 ·
calvincc said:
I have a dilemma. I live in a house in the suburbs and thinking of moving to a condo closer to downtown. This move would require a bigger down payment.

I have a few options:

1) sell my Rolexes so that I could move this year
2) keep my rolexes and continue to save up. Will be a few years before I could move.

I feel like I would be happier if I move. But I also like my watches.

If it matters the Rolexes are 1) ceramic sub date, 2) Batman (1st generation) and 3) 2016 Explorer 1 MK2

What would you do? Do I choose quality of life or watches? I might regret selling the watches now seeing how rolex prices keep going up. Sent from my iPhone using Tapatalk
Click to expand...
Are you:

1. Single.
2. Engaged.
3. Married.
 
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#19 ·
Not to be blunt, but watches aren't good investments. Sure, you get the rare unicorn (Paul Newman Daytona), but most 30- or 40-year old Rolexes are not all that collectible. Got a Submariner from 1989 with box and papers that you bought for $1,800? You'll net (I'm guessing) $6-7K from it. Buf you'd invested that $1,800 in Procter & Gamble stock, you'd have bought in at $6.77 (or about 260 shares). With divident reinvestment, that $1,800 would be worth $30,000+ now.

$30K vs $6K?

But to be fair, you could do a quick calculation of future market value of both the watches and the condo. Run it for 5 years or whatever term you seek to own the condo.

Good luck!
 
Discussion starter · #20 ·
sportura said:
Are you:

1. Single.
2. Engaged.
3. Married.
Click to expand...
Single.

Just to be clear I already put down 20% for my current house and has been paying the mortgage and bills for the last 6 years. Nearly perfect credit score. I have been saving for my retirement fund which I cannot touch or will be taxed twice. So the money that I spent on watches was extra money on top of all the bills, retirement contribution and emergency saving.

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