Help with birthday gift

[Moonwatch83]

Hi All, I need help. My husband has been lusting after a Moonwatch for at least a decade. I promised him one for his 40th, which is coming up. However with the cost of living, he wants to put money into our mortgage. So now I’m a bit lost. Do I:
-get a new one for him
- get a second hand one that might only be a year or two old.

Any suggestions or tips?

 

[SkunkPrince]

He is thinking of your long-term future together. Spending thousands on a watch is a Bad Idea.

Have you seen the MoonSwatch? That might be an inexpensive way to show your appreciation that he is putting your marriage and life together first, without breaking the bank, so to speak.

The deal is that any Speedmaster worth buying is thousands of dollars, like 3 to 6 months of mortgage payments.

I get it. But not spending these thousands now even when you want to make him happy will not make him happy.

I wish you well, you and he are both smart and caring.

 

[blueteg]

M Moonwatch83

Hi All, I need help. My husband has been lusting after a Moonwatch for at least a decade. I promised him one for his 40th, which is coming up. However with the cost of living, he wants to put money into our mortgage. So now I’m a bit lost. Do I:
-get a new one for him
- get a second hand one that might only be a year or two old.

Any suggestions or tips?

Third option: get him a gently used Speedmaster reference # 3570.50 (these are 10-20 years old, and still look great!)

This will be the most affordable means of getting him a Moonwatch. The 3570.50 was produced from the late 90's and was discontinued in 2013 (or 2014?). You can pick up a nice one that's been gently used for $3,500 USD if you get just the watch only (no box, or cards/papers) or closer to $4,000 if you want the full kit. Beware, the red boxes that the Speedmasters of this era came in, tend to age very poorly over time (fading color and flaking/peeling). People (myself included) tend to want to gift watches with the full set that they would have come with when new. But these boxes just look so ratty after a few decades that it kind of takes away from the beauty of a well preserved Speedmaster. Maybe find one that's for sale as "watch only" and then buy him a nice, unbranded, presentation box to give it to him in.

Very thoughtful of you to take the time to come on here, and do some research to make this happen for him. Regardless of which direction you choose for his 40th, I'm sure he'll be happy with it.

Cheers

Edited: Jan 31, 2023

 

[Billthemonkey]

Have you got a good credit rating and can you spread the payments?

rather than paying in cash, you can do one of two things. You can go down the route of 48 months interest free credit from the Jeweller but if you do that you won’t get a discount.

Or you could apply for a 0% credit card on purchases which is what I did for my Moonwatch last week ( I too had been listing after it for decades)

I haggled a 15% discount and loaded it on to the new card, set up a direct debit for £100 a month. After 2 years the 0% will expire and I’ll flip it onto a 0% balance transfer card with a small fee of around 3% (about £80) and carry on paying £100 a month

that way I’ve got best of both worlds ( a good discount and spread the payments)

but we can’t let you know how your husband will react. Personally I’d have been overjoyed, as it’s the fear of my wife’s reaction that’s held me back for last ten years 😀

Rather than risk making wrong decision let him know you really want to buy him one and go to the dealer together so he can experience the whole thing, get it fitted and choose the right model for him.

Also if buying new, prices are going up tomorrow on 1st Feb…

I’d go new as if you get a good deal it’s not that much more expensive than a recent model and you have security of warranty, dealer relationship etc

 

[STANDY]

Just get him a new one and be the bestest wife for years to come…..👍


Tell him it’s he’s 40th 41st and 42nd present 😉

PS…Your going to get good presents for years to come.

 

[Geme81]

I suggest a vintage Speedmaster professional from his year of birth.

 

[Crunchie]

Despite you getting answers at both extremes of the spectrum, nobody can tell you the right thing to do.

We can tell you the Speedmaster is a great watch, that it won’t lose much money, that the retail price will go up once or twice a year and never down, and that it would make a great present for a milestone birthday that can last for decades.

What we can’t do is tell you if it’s a sensible way to spend your money, or if you should overpay on your mortgage, or if your husband will be delighted or furious if you surprised him with one.

Summary - it’s a great watch, but we can’t tell you if you should buy one or not.

 

[hen]

SkunkPrince

He is thinking of your long-term future together. Spending thousands on a watch is a Bad Idea.

Have you seen the MoonSwatch? That might be an inexpensive way to show your appreciation that he is putting your marriage and life together first, without breaking the bank, so to speak.

The deal is that any Speedmaster worth buying is thousands of dollars, like 3 to 6 months of mortgage payments.

I get it. But not spending these thousands now even when you want to make him happy will not make him happy.

I wish you well, you and he are both smart and caring.

+1
There is always a 50th anniversary or a wedding anniversary later when op`s economy is better.

 

[Moonwatch83]

Thanks for taking the time to reply all, you have given me something to think about!

 

[dsio]

I’d go the second hand route and get either a First Omega in Space, which can be found around the $4k range used with a bit of effort, or a 3570.50 for around $3,300-3.500 used. It’s a special birthday and will mean a lot to him for decades to come.

Generally speaking blokes don’t care if its used or pre-owned, especially when they’re planning on wearing it and getting scratches on it themselves.

 

[fiberguy]

Going against the grain here, but if you husband is truly thinking about paying down you mortgage, an expensive watch might not be the best idea. Surely he will love the watch, but it might also eat at him that the money could have been better spent for long term security.

 

[Dan S]

I assume you have an equal grasp on your finances as your husband does and you don’t need the male members of OF to mansplain things to you. If buying for myself I would be happy to buy preowned but if buying a gift I would probably buy new.

 

[tictacmen]

Maybe the best is to avoid the "surprise" part in the equation and discuss with him if it is the good timing for the purchase. Whatever decision you reach, as long it is a common one all will be fine. My credentials: 25 years married here and counting 😀

 

[Donn Chambers]

M Moonwatch83

Hi All, I need help. My husband has been lusting after a Moonwatch for at least a decade. I promised him one for his 40th, which is coming up. However with the cost of living, he wants to put money into our mortgage. So now I’m a bit lost. Do I:
-get a new one for him
- get a second hand one that might only be a year or two old.

Any suggestions or tips?

First of all, I'm not sure if your husband understands that putting extra money into your mortgage will not necessarily help your current cost of living:

https://www.forbes.com/sites/kristi...gage-wont-lower-your-payment/?sh=49ec782e74e3

Because it won't automatically lower payments. You won't actually benefit until near the end of the mortgage (15 years from now? 20?) when you have paid it off a month or two earlier.

If you need to have a lower mortgage payment each month, you need to either refinance OR recast the mortgage with the lump sum, but that will require permission from the mortgage holder.

You might want to discuss with your husband what he expects to happen when he pays the bank that money and do a little more research. When he sees how it won't affect the month-to-month expenses immediately, he might decide he'd rather have the Speedmaster now!

 

[Syzygy]

"Any suggestions or tips?"

Here's my best mansplaining. Open communication in this case would be the best advice I, or any of us, could give. This is a decision for both of you to make based on whatever your current financial landscape is.

Maybe you both can come to a solution that works for both of you. Rather than taking the $3-5K and throwing it lump sum on the mortgage, if it works for your current budget, you can throw extra $ per month on top of your normal payment and apply it to principal (call it out specifically). You'd be surprised what happens to a 15 or 30 yr fixed mortgage when you add a 13th payment per year to principal. My wife and I (even though I thought she was crazy for insisting) blasted through a 15 yr fixed in a touch over 5 after a very favorable refinancing and just sticking to our previous budget. Being 100% debt free is very comforting, and in hindsight, absolutely worth the sacrifices we made at the time.

Maybe with this approach, you can still give him the Speedy, and you both can still chop away at that mortgage. That said, I have to admit, focusing on your financial wellbeing over a watch is actually the best advice out there.

 

[cheznous]

Always reduce your mortgage first even if it’s at a favourable rate. Simply because once your mortgage is paid you can indulge way more in more luxury items. Day I paid my mortgage early after using any surplus funds to reduce term was so great. This way any downside in your personal circumstances is less of a worry as your house is yours.

 

[rhr321]

SkunkPrince

Wow, just wow.

I am flabergasted by these replies. Just what kind of morons are you?

Double wow, what kind of moron are you… judging others and their finances. You have absolutely no idea what their financial situation is, they could live in a 5 million dollar house with only a 100 thousand mortgage .

The Op asked for advice on two watches, a brand new one, and 1 or 2 year old one…. not if it should go on mortgage. I presume with the slightly used option , we are still talking 3861.

I would go new between those two options. I presume she wants to give the gift. This is a watch forum , not a financial one.

I wouldn’t view it as a completely terrible financial decision, the watch will likely retain value pretty well.

I’m sure it was not intended, but calling others “moron” with very little knowledge can sometimes come away as offensive. I’m sure the Op and her husband are the best judges of their financial situation,

Edited: Jan 31, 2023

 

[Evitzee]

If the standard course of action here on OF was to always throw potential watch money towards reducing the mortgage there would be a LOT fewer Omegas walking out of ADs and OBs. And people would be driving 10-15 year old cars instead of buying newer vehicles, and living in lot smaller homes. We don't know the OP's financial situation, and it's none of our business. The question is about new or used. I think a newbie trying to buy a used Speedmaster is frought with the potential of getting a bad watch at a bum price. I would bite the bullet and get your husband a new watch with a five year warranty, it might cost a little more upfront but he'll enjoy it more. Not every guy would be satisfied with a pre-owned piece.

 

[Aroxx]

My vote is for new. I personally wouldn’t want a hand me down for the big gift after 10 years of lusting after it. I’d want the brand new never touched watch to call my own. But that’s just me. Best of luck whatever you decide to do!

My two cents for the crew here. I would have never got my Speedy if my wife didn’t tell me to go for it. I’m usually trying to be practical and responsible and won’t do anything nice for myself. I’m very fortunate to have a wife that pushes me to “go for it” when she knows it’s something I really want but am holding back trying to do what I “should” be doing. Not just talking about financial stuff here and also not advocating irresponsible financial decisions. But as a wise man once said… YOLO.

 

[NGO1]

The watch you are buying for him will be worn and cherished for the rest of his life. Ask me how I know…

My girlfriend was sick of me drooling over a watch for nearly a decade, she put it on her cc card and placed it on my nightstand. No reason, no occasion. We were newly (poor) college grads.




We are married for over a decade.

This kind of generosity only happen once or twice in a lifetime. Every time he tells the story of the Speedmaster, YOU are the hero. You’ll be hero hundreds of nights for the next few decades.

When he finally pass the watch to your children, you’ll be the hero in their stories.

This makes you a legend!
Buy the watch!