Is this a hobby for the super rich?

Keef Richards · Apr 23, 2019

The only way I can afford a Omega watch is using their credit card that has no interest for 18 months. Granted I could save $288 a month and buy it in a year 1/2 but we consumers dont like waiting.

So many people think your crazy for spending so much money on a watch. However they spend money on a luxury car, RV, motorcycle, big vacations every year, high end cameras, etc and think nothing of it. As I'm not in credit card debt and I can pay it off with the weekly allowance I give myself that my wife agreed to, I am going for it.

Wryfox · Apr 23, 2019

Keef Richards
The only way I can afford a Omega watch is using their credit card that has no interest for 18 months. Granted I could save $288 a month and buy it in a year 1/2 but we consumers dont like waiting.

So many people think your crazy for spending so much money on a watch. However they spend money on a luxury car, RV, motorcycle, big vacations every year, high end cameras, etc and think nothing of it. As I'm not in credit card debt and I can pay it off with the weekly allowance I give myself that my wife agreed to, I am going for it.

Sign up for experimental medical testing, donate blood..... you got two kidneys dontcha? You're a money making machine!

threeputtbogey · Apr 23, 2019

I think it depends on what you value. A speedmaster pro is iconic, well made, can be serviced by most watchmakers, and will last for ever. It is certainly more expensive than a fashion brand watch, but then again do you think your kids (or you) will care about your Fossil in 30 years (or even in 5 years)?

MTROIS · Apr 23, 2019

It is all about priorities... and yes, NEEDS such as a roof over one's head, food and even life experiences such as travel, arts and culture are all above material things.
But when it comes to material stuff (I.e., WANTS), the joy that fine things such as a watch of this quality do bring are unrivaled IMO, especially since you will be able to transmit them down to your heirs some day.
Of course there are many more dimensions of pleasure that such masterpieces bring to their owner...

jhross98 · Apr 23, 2019

Gt390
Not sure if anyone else picked up on the 8 figures comment from the OP or not. I am no financial guru and not the best with my gozintas. But last I knew that was 10 million plus dollars. Any watch is within his reach.

8 figures. .. in OHIO no less!

i'd say he could buy pretty much any watch on earth . . .LOL

Observer · Apr 23, 2019

I'm not reading through the whole thread, but any hobby is great for the rich. Being rich won't make anyone good at it, though. Someone with modest means can be a great collector of almost anything if they're good at identifying value. If you avoid paying retail for new items and concentrate on finding something you can sell or trade for what you have invested, you can continue to build a better collection. I think that's where a lot of the fun is for many collectors.

Dan S · Apr 23, 2019

jhross98
8 figures. .. in OHIO no less!

i'd say he could buy pretty much any watch on earth . . .LOL

$10M is the amount that he predicted he would have saved for retirement in roughly 30 years. With inflation, that is probably the equivalent of $4M in today's dollars. So yes, it's a lot of money, but in line with what many financial advisors would suggest for a retired couple to live comfortably. Especially if he plans to retire at 65.