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  1. nygiants Mar 31, 2017

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    Wanted to toe the line between addiction and horological love but it's hard to know what the line is...Everyone has different issues..Mortgage ,rent ,child care,other hobbies but I believe a certain percentage of your yearly salary is there to attribute if there is an issue or not.Of course loans,failing to pay bills are obvious red flags but I wanted to know if anyone had an answer
     
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  2. dsio Ash @ ΩF Staff Member Mar 31, 2017

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    There isn't an answer to that, you just do what you like unless you're married in which case you do what she likes, or you'll eventually get to do what you like again with half your watches gone.

    Easy math that :)
     
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  3. Mouse_at_Large still immune to Speedmaster attraction Mar 31, 2017

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    If you can't buy out of completely disposable income or non-earmarked savings, imho you shouldn't buy.

    Don't borrow to fund watch purchases unless you are virtually certain to make a profit above and beyond interest payable..
     
  4. Canuck Mar 31, 2017

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    Does anyone actually incorporate a dollar amount for their watch hobby, into budgeting their personal finances? Not I, but then I'm a bottom feeder. I network a lot, and it isn't difficult to luck into watches that other people no longer want. They're glad to see them go to where they'll be appreciated. Of the 13 or so Omegas that I have, I have only ever actually bought two of them. My 1989 Apollo XI commemorative Speedmaster, and my 18-karat red gold and stainless Speedmaster reduced. Pocket watches is another story. Most of what I have, I have bought. But I can say that I have never paid prices like I see on the internet, for darn fine watches. It must be said I've been collecting actively since 1975. So prices sure have gone up over the last 40 years.
     
  5. nygiants Mar 31, 2017

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    You sir have been at this longer than I and I of course tip my hat to your patience ,vigilance and savvy.I believe with inflation watch prices have increased proportionately so...I believe one should not use more 3 percent of their salary on watches or else it is considered a major issue...Just my 2 cents...People can talk themselves into buying but if u have cold numbers to splash ur emotions at time of purchasing it may help ....
     
  6. gostang9 Mar 31, 2017

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    My wife and I spent first 10 years of married life paying off mortgage. I only started buying watches after all debt was gone and we had a sizeable nest egg built up. We put about 80% of our household disposable income into savings, then most of the remaining 20% is spent on family vacations and activities. A very small fraction is put toward watches, since it's an entirely selfish hobby and the pursuit of material possessions never really satisfies anyhow. Not trying to tell anyone else how to live their life, just answering your questions about how I personally handle it.
     
  7. Larry S Color Commentator for the Hyperbole. Mar 31, 2017

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    Chasing quality is expensive these days. This is an expensive hobby so if you can't afford to buy and service stay away. My view is that the hobby can veer into addiction if self reflection and common sense go out the window. Never play with anything but mad money.

    Try to make the hobby self funding. Be brutal ...Keep what you wear. Sell what you don't. Fewer bigger bets to get original quality. This I have from sages here at OF.

    Now I'm going to stand in front of a mirror and beat that last paragraph into my head. :unsure:
     
  8. Baco Noir Mar 31, 2017

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    +1 that's my philosophy too.
     
  9. Optimizer13 Mar 31, 2017

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    Respect
     
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  10. M'Bob Mar 31, 2017

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    You're trying to quantify something that often eminates from a deep-seated passion. By its very nature, when passion grabs you hard, you will act irrationally. That is part of the fun, and part of the dread.
     
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  11. watchknut New watch + Instagram + wife = dumbass Mar 31, 2017

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    Well...last year I spent my entire salary on watches but didn't spend any money...

    Somewhat of a riddle
     
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  12. Canuck Mar 31, 2017

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    You barter a lot!
     
  13. Thomas P. The P is for Palladium and Platinum Mar 31, 2017

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    Since pretty much all my watches are gold I look at it as I'm buying an investment and something fun at the same time. Gotta love watches close to spot in price.
     
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  14. cicindela Steve @ ΩF Staff Member Mar 31, 2017

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    Actually, the American Watch and Clock Association,
    " .............We therefore recommend that per annum watch purchases do not exceed four times one's annual salary ........."

    Sounds good to me :D
     
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  15. Jwit Not a doctor, but plays one on ΩF Mar 31, 2017

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    I certainly make no where near enough to support this hobby in the ways I want to. However I manage to keep myself on a budget and only buy pieces I can afford after all the bills are paid. It's a hobby, I won't die if I cant take part in it.
     
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  16. Rodmar Mar 31, 2017

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    Im
    i think I'm the same way or at least getting to that point. When I get into a hobby I spend cash quick, and I surely have so far in this hobby.

    It's time for me to hold off and save again.
     
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  17. STANDY schizophrenic pizza orderer and watch collector Mar 31, 2017

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    Like to spend a bit of money made from doing countless hours of overtime on weekends and God unearthly hours of the mornings on watches.
    Gives me that it was worth getting up at 1am or working 11 hours on a Sunday.

    Just happen to say yes to working a lot of overtime sometimes ( usually after a FS listing ) ;)
     
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  18. Bushido Mar 31, 2017

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    This is very sage advice! It can be hard to enjoy a very expensive hobby, especially at the beginning, without making some bad calls and losing your shirt. Do not race to acquire every thing which tickles a passing fancy. Also, never try and compete on a watch enthusiast forums for best collection. That is the fastest way to go broke!
     
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  19. nygiants Apr 1, 2017

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    I agree ...don't race...like it...wait a week ...still love it...Go try to wear it....I have a 4 week waiting period before deciding the watch was just a whim or its a must buy...
     
  20. M'Bob Apr 1, 2017

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    I try to give myself 4 minutes...
     
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