Community Stories

The first watch to be sold when fired thread ........

Just Livin
Posts
1,361
Likes
6,250
Given the turmoil re Covid-19 and the decline in the economy, am sensing there are a few collectors here (myself included) that need a plan B to assist with funds.

Maybe it's just me.

However have sadly worked out my piece 馃檨, but can't even bring myself to share.

::facepalm1::
 
Evose
Posts
315
Likes
782
Sorry to hear that.. hope your situation turns around soon and best of luck moving forward.
 
BlackTalon
Posts
5,528
Likes
9,451
Hey, you do what you have to do. Survival is priority. Watches are not a necessity.

Go for the most valuable to get the most funds. Or go for the one(s) that you think will be easiest to replace later once you are back on your feet.
 
JwRosenthal
Posts
16,305
Likes
45,005
Sorry you have to make hard choices, but it may be an opportunity for cleansing.
When I was unemployed back in '12 for 6 months I had to make some hard choices with my record & vintage stereo collection, as well as my vintage camera collection. I did a quick cull with the records, made piles, then another cull, made piles, noting that some of the big dollar stuff I really didn't listen to, I just had it in the collection becuase it completed a set or was a noteworthy recording.
In the end i sold off enough to keep me afloat and I don't miss any of it. Sure I think to myself- wow, I owned that and sold it?? But if I didn't listen to or use it much in the decade or two I owned it, I wasn't going to. Since I have added back to the collections with a much sharper focus on what I want and what I enjoy and less of a "collect them all" mindset.
 
pdxleaf
Posts
6,312
Likes
21,511
And stay off of the forums. They warp your mind. 馃槈

The watches will still be here when you are ready. Your sanity is not so permanent. Respect for you making the mature decisions.
 
airansun
Posts
2,519
Likes
17,831
My heartfelt sympathy.

I sold most of my vintage fountain pen collection when I lost my job in the early 90鈥檚. It was my first extended lesson in Buying is easy, selling is hard. Some of the stuff I parted with I still miss and know I can never replace, because of how unique those pieces were. But, most of it I don鈥檛 miss at all. I still have a few dozen that I particularly prized, but the really valuable ones had to go.

At the time, we had small children and I was the sole support. I bit the bullet because I had no choice. It took me about eighteen months to sell off about two thousand pens and I hated almost every minute of it. In order to move things along, I sold below market and lost money more often than not. But, I did not feel sorry for myself; instead, I felt guilty and stupid for failing to anticipate the corner I鈥檇 painted myself into.

There鈥檒l be another day, @Just Livin . Just leave the gun and take the cannoli.
 
SkunkPrince
Posts
5,631
Likes
5,812
Railmaster LE. Glad I have it but I might not have bought it had I seen it in person first.
 
Just Livin
Posts
1,361
Likes
6,250
airansun airansun
My heartfelt sympathy.

I sold most of my vintage fountain pen collection when I lost my job in the early 90鈥檚. It was my first extended lesson in Buying is easy, selling is hard. Some of the stuff I parted with I still miss and know I can never replace, because of how unique those pieces were. But, most of it I don鈥檛 miss at all. I still have a few dozen that I particularly prized, but the really valuable ones had to go.

At the time, we had small children and I was the sole support. I bit the bullet because I had no choice. It took me about eighteen months to sell off about two thousand pens and I hated almost every minute of it. In order to move things along, I sold below market and lost money more often than not. But, I did not feel sorry for myself; instead, I felt guilty and stupid for failing to anticipate the corner I鈥檇 painted myself into.

There鈥檒l be another day, @Just Livin . Just leave the gun and take the cannoli.
馃憤 Enough said 馃槈
 
Just Livin
Posts
1,361
Likes
6,250
BlackTalon BlackTalon
Hey, you do what you have to do. Survival is priority. Watches are not a necessity.

Go for the most valuable to get the most funds. Or go for the one(s) that you think will be easiest to replace later once you are back on your feet.
The most obvious advice is the most sensible. Reality check is always good to receive.
 
gbesq
Posts
9,911
Likes
56,077
Very sorry to hear that. When I was in my 30s I found myself unemployed as a result of business failure and I was a single custodial parent to my then 4 year old daughter. I had no savings, nothing to sell, no family nearby, and didn鈥檛 qualify for unemployment or any social service benefits (you gotta love the USA). Friends and family helped as much as they could, but it was a tough time. I enrolled in and put myself through law school entirely with student loans and was fortunate to get a job immediately upon graduation. There was a silver lining to the cloud in that I was able to spend a lot of quality time with my daughter during that period. I found that you don鈥檛 need to have much money to have a great family life. I hope that everything goes well for you and hope that you are reemployed at the earliest possible opportunity.
 
RonJ
Posts
504
Likes
1,953
You might want to consider selling a watch earlier than when you get laid off.

It is so much easier to negotiate and take your time selling an item when you're not under financial pressure to do it right away.

.
 
MoclovFlop
Posts
479
Likes
1,548
RonJ RonJ-in-VA
You might want to consider selling a watch earlier than when you get laid off.

It is so much easier to negotiate and take your time selling an item when you're not under financial pressure to do it right away.

.

That's like saying you should pick the winning lottery numbers before they are announced.

Most people don't get a warning that they are fired. The writing isn't always on the walls.

Unless I'm reading it wrong?

I guess some places might tell you they are closing the doors and you have x amount of days left before it's over. But I suspect that's not especially common.
 
RonJ
Posts
504
Likes
1,953
MoclovFlop MoclovFlop
That's like saying you should pick the winning lottery numbers before they are announced.

Most people don't get a warning that they are fired. The writing isn't always on the walls.

Unless I'm reading it wrong?

I guess some places might tell you they are closing the doors and you have x amount of days left before it's over. But I suspect that's not especially common.

Agree. You can't really guess when the lay off might be coming.

Instead though, calculate how much cash you should have on hand as a safety net.
Maybe 6 months of your take-home pay? Maybe 12 months worth?

Then, once you know that dollar amount, think about selling a watch to help build up that cash reserve.

That way, you can take your time selling the watch and negotiate a good price for it.

.
 
Dsloan
Posts
3,641
Likes
24,606
RonJ RonJ-in-VA
Agree. You can't really guess when the lay off might be coming.

Instead though, calculate how much cash you should have on hand as a safety net.
Maybe 6 months of your take-home pay? Maybe 12 months worth?

Then, once you know that dollar amount, think about selling a watch to help build up that cash reserve.

That way, you can take your time selling the watch and negotiate a good price for it.

.

I agree... I started preemptively selling off some pieces earlier this year. My wife was laid off during the shutdown and has been underemployed since. We can live on my income, but it has made us rethink how we spend. I put my watch proceeds into recasting our mortgage - should make things easier if our financial situation worsens.

As much as I love watches, I'm pretty sure the order of operations goes something like:
- build a 6-12 month emergency fund
- fund your 401K and/or Roth
- fund your 529 if you have kids
- then buy the luxury products if you have money left over

To answer the OP's question. I sold all the cheap watches with low wrist time. Less painful, and they did add up to a nice little % of money I needed to pay down the mortgage.
Edited:
 
Archer
Posts
29,915
Likes
77,361
For myself, I didn't need to sell off assets, as severance continued for 2 years...by then the business was well established. But not having a mortgage for several years prior certainly helped.
 
STANDY
Posts
16,861
Likes
47,910
If you sell here, just dibs as you sell. That way you may be able to buy as first offer if the buyer sells when your in better times.....馃槈

Good luck in whatever you do.
 
jsducote
Posts
1,069
Likes
2,166
Just Livin Just Livin
Given the turmoil re Covid-19 and the decline in the economy, am sensing there are a few collectors here (myself included) that need a plan B to assist with funds.

Maybe it's just me.

However have sadly worked out my piece 馃檨, but can't even bring myself to share.

Hmm, I'll play along. I know my fianc茅e would want (wants) me to get rid of the Breitling Aerospace that my ex got me, but it was my first Swiss watch, so it has a special place. The FOIS or Seamaster 2220 would probably be the easiest to sell and replace again in the future. But the Carrera was the best deal, so it would be the least painful to the wallet if I had to unload it to pay a few bills. But honestly, none of my watches or even the whole collection are going to dig me out of a very deep hole, were I to find myself in one. I must not be buying nice enough watches!

I'm roughly around the mid-point of my career 馃檨 and have been furloughed and/or laid off 3 times, most recently in May due to coronavirus. The first time, I was married and had backup income, so I went back to school for a master's degree. The second time, I got lucky and found a new job within a week. This time, I sat on the couch for nearly 6 months, re-playing old Playstation games & watching COVID unfurl on CNN, before finding a new position.

Long story short, if I can, you can and will bounce back from this. It probably wasn't healthy for me to keep watching auctions, ebay, and OF for watches that I could afford but shouldn't (and didn't) buy. At the same time, I needed it as motivation to keep searching for a job, and when I got that first paycheck I treated myself to a reward (Heuer Monaco) for having been responsible with my unemployment checks. If you have to thin the herd, try to think of it as a positive, responsible act, one which you're entitled to reward yourself for in the future when its appropriate to do so.
Edited:
 
amcclell
Posts
1,533
Likes
3,238
You do what you have to do to make ends meet. With no income, I would sell anything that I didn't need that was easiest to liquidate. Guitars, watches, pens, spare car - these things don't define us even though they may bring pleasure. I hope it doesn't come to that but this forum will definitely help with your watch collection.
 
Sign up or log in to reply...

Similar threads

Nactex

Speedmaster Presented to the Shah of Iran In 1969, By the Apollo 11 astronauts To Be Sold

Nactex Vintage Omega Watches Help, Discussion and Advice
Aludic
Aludic
Posts
1
Views
1K
idodo

Dennison Constellation to be sold - repair first?

idodo Vintage Omega Watches Help, Discussion and Advice
Edward53
Edward53
Posts
7
Views
1K
sensui

Joining the party with the first watch in 15 years

sensui Modern Omega Watches
sensui
sensui
Posts
13
Views
2K