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Hello. I am planning my next possible purchase. It would be the most I have ever spent on a single watch. Even though it would be well within the "affordable range", the price still seems high for my tastes. Right now, I can't really rationalize it. Anyway, it would be 5 % of my yearly income for this specific watch.

I got the idea to ask you guys what % of your yearly income do you consider to be okay to spent on watches, question could be in 3 parts:
1) The highest % of your yearly income you have ever spent on watches.
2) What % of your yearly income would you consider still "okay", but close to "too much".
3) Your "sweet spot".

Please avoid specific amounts (like XY USD), operate only with percentages to avoid any possible "bragging" accusations.

I go first:
1) 8,5 % in three watches.
2) Number above seems about right.
3) Probably 5 %, but I may be not okay with the idea of it being just 1 watch.
 

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My rule if thumb is about half of disposable monthly income on a single purchase, twice per year. Disposable meaning whatever is left after rent, insurances, taxes etc.

If I had to calculate that in percent of yearly net income, it comes to about 6 percent.

Highest I have spent on a single purchase is 3% of net income (as a logical consequence of my rule of thumb).

Sweet spot would be at around 2% for a single purchase I guess.
 

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It’s my wife who keeps the books so i do not have any idea of our actual annual income. That said, what i can answer about is the actual money that comes to my hands (net of all family expenses and splurges). So basically savings and disposable money. Instead of investing, i chose to spend on watches.

1) The highest % of your yearly income you have ever spent on watches. - 100% (in 2018 and 2020)
2) What % of your yearly income would you consider still "okay", but close to "too much". - 50% (in 2016, 2017 and 2019)
3) Your "sweet spot". - 25% (from 2006 to 2015, and i plan to follow this from 2021 to 2026).


I should be saving/investing and/or buying other things (cars, gold, etc). But am addicted to watches. And my wife makes sure we have more than enough.
 

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The rule i am familiar with is the three months salary equivalent for an engagement ring. Too bad for my then girlfriend, i was working in government with a paltry salary when i proposed.
 

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The rule i am familiar with is the three months salary equivalent for an engagement ring. Too bad for my then girlfriend, i was working in government with a paltry salary when i proposed.
Wait, that's how much I'm supposed to spend on an engagement ring?!

I mean obviously its a special moment, and surely I'd spend quite a bit more on it than I would on my man jewellery (watches). But 3 months income seems a bit excessive... If about 25% of my income is disposable that would take me at least 12 months to save up for an engagement ring.

Maybe that's why some guys wait so long to propose, they're busy saving up for an engagement ring...
 

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I went overboard this year, admittedly, but I promise I'll be good next year 😅
1) Around 50% this year.
2) Hypothetically, assuming no responsibilities or dependents whatsoever, 100% of whatever is left post retirement contributions.
3) I haven't found it yet, but if I had to guess my personal sweet spot should be around 10%.
 

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The rule i am familiar with is the three months salary equivalent for an engagement ring. Too bad for my then girlfriend, i was working in government with a paltry salary when i proposed.
The three months (or two months, as I recall it) salary idea was created by De Beers ... part of an ad campaign in the 1980’s for a company that sells (surprise, surprise) diamonds.

The fact that this idea has become the metric for engagement ring purchases is a testament to how good marketing can stand the test of time, and how incredibly suggestive people actually are.
 

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who made that up anyway?
The diamond industry. I think it was actually DeBeers... Edit: Damnit! Jtragic beat me to it.

I think I spent under 5% annual salary getting my collection up and running over the course of a year or two, but I'd be surprised if it was even 1% at this point, since I try to do one-out / one-in to finance new watches and keep the collection under 8 watches in regular rotation.
 

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A good/bad year for me. I bought 4 watches since January and that’s the good news! The bad is the % of my income that got eaten. Won’t post the actual %. I want to stay married;)
 
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I haven't done the math and I buy watches every 2 years or so. Single most expensive watch purchase was about 2.5 months of Gross Income.
 
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Haha yeah when I bought my wife's engagement ring, the prevailing "wisdom" was two months salary. As I recall, it was expensive, but I didn't spend that much. Now they're saying three months... that's hilarious. Suckers!

As for my watch buying habits, I've never come close to spending 1% of annual income on a single watch. Over time I guess I've blown about 2-3% of my income on watches (including straps, boxes, and tools) in the last two years or so. Watches are a frivolity, and I have hard limits (not based on income) on how much I'm willing to spend on stuff like that.

I contribute 10% of my income to my retirement fund. And you should too. Everyone kicks themselves for not having started sooner.
 
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I have been at this game for a while and some years I didn't purchase any. Has not been the case the last few years.I prefer to measure the benefits a new watch brings. Great feeling + satisfaction = Priceless 😁.


Regards,

Ren

My latest purchase from June.

 
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