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Discussion Starter #1
Say, you have already spent your yearly allocation, and find a “grail”, pre-owned at a very good price. Would you jump at the opportunity or would you respect your budget.

I know we are a bunch of enablers... but still b-)
 

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It's only June when does your personal year run ? Jan-Dec? I'd have to say no.
July-June then yes ok .
 

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Depends on why I set an annual budget. Did I set it because spending more would impinge on other responsibilities? Then, no.

Did I set it because I'm trying to control impulse buys? Then, yes, if it's not an impulse buy.

I tend not to set budgets for hobbies, though. I tend to fulfill responsibilities first (all of them) and then spend what's left as opportunities emerge.

Rick "who has let one really desirable watch go by just in the last couple of weeks" Denney
 
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if I can work the number around, sure, why not. I dont just budget for my watch spending, I budget my yearly finance so it's easy to keep track of things and see the numbers,
so it may mean lowering on other spending for a couple of months or postponing a few non-essentials.

incredible offers/opportunities may not come too often, so I'd probably jump on it.
 

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Discussion Starter #6
It's only June when does your personal year run ? Jan-Dec? I'd have to say no.
July-June then yes ok .
My budget was set low enough to compensate for last year when I actually over-spent a bit on impulse purchases, and to allow me to purchase a nice-ish watch for my birthday and maybe one other on the affordable side at another point of the year. My b-day watch was already purchased and it is on its way and should arrive in a couple of weeks.

It is still a hobby budget, and I could easily double it without hampering my ability to meet my responsibilities. That money would still be better spent on some other things like helping in upgrading my car.

BTW, I’m not getting that watch now even when it is one of my top-3 most desirable watches. Even at its current price, it is an expensive watch and I need to show myself some discipline and restraint. Frankly my wish list is large enough that almost every time I look into it, I find a desirable watch at a nice price.
 

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It's all about checks and balances, man. You really want that watch, then put in some overtime this week. I set my budget based on what I work on paper. Anything over that mark is mad money.
 

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I ​have never considered setting an annual budget to be honest.
 

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No - I am happy with what the watches I own now.

mike.
 

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Afford is such a loose term. If it is a really unbeatable deal then I'd find a way now, as opposed to spend more in the future.
 

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It depends on what the consequences of exceeding your 'yearly allocation' really are. I am not really so structured as to have one, so it's hard to know for sure.

If exceeding your budget means you cannot make your house payment or pay for your kids' piano lessons, or you will be eating bologna sandwiches everyday, definitely not. If all it means is that I might be chewed out by my wife for buying yet another watch, perhaps… if I am willing to live dangerously… ;-)
 

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My budget was set low enough to compensate for last year when I actually over-spent a bit on impulse purchases

It is still a hobby budget, and I could easily double it without hampering my ability to meet my responsibilities. That money would still be better spent on some other things like helping in upgrading my car.
Ok you need to consider why you set the budget in the first place . You felt you overspent last year and now want to go over this year .
If it is affordable you need to ask yourself do you need to honestly acknowledge the desire for a larger budget .
You set the rules.
Which gives more pleasure watch or car.
Personally where I live I get no pleasure from cars and now drive something I would never have owned in my 20's and 30's.
Get more pleasure from watches and the hunt for the next object of fascination .

Use the Force Darth !

Sent from my GT-I9100 using Tapatalk 2
 

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Sounds like another typical watch shopping day for me......
 

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I agree with the notion that if you're going to but it eventually anyway, then why pass up a good deal. Again, only if not giving up necessities.


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in a heartbeat. my annual budget is around 10k USD, but if a Gyrotourbillon comes my way for $20k, I'd gladly sacrifice the next year's budget.

actually, my goal going forward is to buy a watch every OTHER year in order to upscale my collection...
 

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I think having and using a budget is a great way to help manage our collecting. Staying within a well reasoned budget should be an important restraint. However, I would consider a watch with a solid resale value (not many) to be a fair place to park some savings. So, if I had the chance to buy a pre-owned Rolex/Patek that I was certain had a resale level at the purchase price (forget profit), I might talk myself into buying it with money that was to be in a longer term savings account.

If this is about buying a watch that you can't afford, then it's just a bad idea. Same for buying to make a profit.
 
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