Author Topic: Will you be keeping your collection for your next of Kin?  (Read 8410 times)

Offline fleaman

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Will you be keeping your collection for your next of Kin?
« on: July 24, 2009, 12:32:11 PM »
Hi Guys,

Here's a nice article which i think its nice to be shared to all...

http://www.firstwaternews.com/feature/689-1-Watch-collecting-Dan-Tanenbaum-Rolex-6538-Submariner-Dr-No-watch-Paul-Newman-Daytona


Happy reading...

cheers.. :Cheers:

Offline Leftear

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Re: Will you be keeping your collection for your next of Kin?
« Reply #1 on: July 27, 2009, 06:01:50 AM »
A very touching and meaningful article indeed  :'(
Thanks for sharing !  :Cheers:

Offline danny

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Re: Will you be keeping your collection for your next of Kin?
« Reply #2 on: July 29, 2009, 08:23:17 PM »
I learnt from my Japanese colleague, that there's a tradition amongst the younger generation of Japanese fathers to buy good mechanical timepieces to mark the birth of their sons. The intention is to present the watch to the child when he reaches adulthood.
But obviously the father gets to enjoy wearing the watch for the first 20 years!
Not a bad tradition if you ask me.
 :Cheers:

Offline Alice

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Re: Will you be keeping your collection for your next of Kin?
« Reply #3 on: August 06, 2009, 07:42:53 PM »
Hi Guys,

Here's a nice article which i think its nice to be shared to all...

http://www.firstwaternews.com/feature/689-1-Watch-collecting-Dan-Tanenbaum-Rolex-6538-Submariner-Dr-No-watch-Paul-Newman-Daytona


Happy reading...

cheers.. :Cheers:

Hi Fleaman,

I am new here. The article posted is very meaningful. Thank u for sharing.

Alice

Offline fleaman

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Re: Will you be keeping your collection for your next of Kin?
« Reply #4 on: August 08, 2009, 07:50:55 AM »
Hi Alice!

No prob! we're here to share and learn from each other!

 :Cheers:

Offline chin

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Re: Will you be keeping your collection for your next of Kin?
« Reply #5 on: May 25, 2011, 10:04:13 AM »
Nice story....

Actually I oso have a vintage rolex oysterdate as my family heirloom.

It was bought by my grandfather when he visited Swiss longx3 time ago and passed down to my father. My father kept it in the drawer for the next decade or so until he present it to me when I started my 1st job. The 1st thing I did was to send it for service and it cost me 50% of my salary  :Mad: later the braclet broke and I had to change it costing more money. Due to the fact that it is a manually wind watch, every 24 months I would need to send it for repairs as the winding mechnism will fail.

Eventually I stop wearing the watch and just keeping it for my next generation. Had to buy another watch (ML) since I now got 2 children so gotta be fair. Having children is really expensive  :Laughing_on_floor:

Now looking for a cheap everyday watch for myself. 
« Last Edit: May 25, 2011, 10:06:25 AM by chin »

Offline G.MAC

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Re: Will you be keeping your collection for your next of Kin?
« Reply #6 on: May 25, 2011, 10:10:49 AM »
next of kin? no. my children only.
Your ONLY job in this world is to make sure that you are happy

Offline ck77

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Re: Will you be keeping your collection for your next of Kin?
« Reply #7 on: May 25, 2011, 10:11:29 AM »
Nice story....

Actually I oso have a vintage rolex oysterdate as my family heirloom.

It was bought by my grandfather when he visited Swiss longx3 time ago and passed down to my father. My father kept it in the drawer for the next decade or so until he present it to me when I started my 1st job. The 1st thing I did was to send it for service and it cost me 50% of my salary  :Mad: later the braclet broke and I had to change it costing more money. Due to the fact that it is a manually wind watch, every 24 months I would need to send it for repairs as the winding mechnism will fail.

Eventually I stop wearing the watch and just keeping it for my next generation. Had to buy another watch (ML) since I now got 2 children so gotta be fair. Having children is really expensive  :Laughing_on_floor:

Now looking for a cheap everyday watch for myself. 
One with Rolex another with ML.
Not fair  :Laughing_on_floor:

Offline chin

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Re: Will you be keeping your collection for your next of Kin?
« Reply #8 on: May 25, 2011, 10:15:13 AM »
next of kin? no. my children only.

Kawan,

your children is your 'next of kin'-la

Offline chin

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Re: Will you be keeping your collection for your next of Kin?
« Reply #9 on: May 25, 2011, 10:16:37 AM »
Nice story....

Actually I oso have a vintage rolex oysterdate as my family heirloom.

It was bought by my grandfather when he visited Swiss longx3 time ago and passed down to my father. My father kept it in the drawer for the next decade or so until he present it to me when I started my 1st job. The 1st thing I did was to send it for service and it cost me 50% of my salary  :Mad: later the braclet broke and I had to change it costing more money. Due to the fact that it is a manually wind watch, every 24 months I would need to send it for repairs as the winding mechnism will fail.

Eventually I stop wearing the watch and just keeping it for my next generation. Had to buy another watch (ML) since I now got 2 children so gotta be fair. Having children is really expensive  :Laughing_on_floor:

Now looking for a cheap everyday watch for myself. 
One with Rolex another with ML.
Not fair  :Laughing_on_floor:

Who more untung? Rolex no complication and manually winding while the Maurice is chrono and automatic

Long time ago I took the rolex to a pawn shop and was offered RM500; recently I service my watch and the proprietor offered RM1.5k to take it off my hands (after I complaint that itwas sooo expensive to service)
« Last Edit: May 25, 2011, 11:15:22 AM by chin »

Offline G.MAC

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Re: Will you be keeping your collection for your next of Kin?
« Reply #10 on: May 25, 2011, 10:32:01 AM »
next of kin? no. my children only.

Kawan,

your children is your 'next of kin'-la
but if I have no children and only got sibling's childrens then i wont be giving it to them. Selfish me. :Laughing_on_floor:
Your ONLY job in this world is to make sure that you are happy

Offline chin

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Re: Will you be keeping your collection for your next of Kin?
« Reply #11 on: May 25, 2011, 11:16:52 AM »
next of kin? no. my children only.

Kawan,

your children is your 'next of kin'-la
but if I have no children and only got sibling's childrens then i wont be giving it to them. Selfish me. :Laughing_on_floor:
Then how? You cannot take it with you to heaven, just will it to MWF buddies-la  :thumbsup:

Offline jacky8888

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Re: Will you be keeping your collection for your next of Kin?
« Reply #12 on: May 25, 2011, 04:55:41 PM »
I learnt from my Japanese colleague, that there's a tradition amongst the younger generation of Japanese fathers to buy good mechanical timepieces to mark the birth of their sons. The intention is to present the watch to the child when he reaches adulthood.
But obviously the father gets to enjoy wearing the watch for the first 20 years!
Not a bad tradition if you ask me.
 :Cheers:
wah.... my baby is coming out soon..... i think i have a good excuse now for my wife to buy Sub C.... ;D
Jacky Wong

Offline TheHobbit

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Re: Will you be keeping your collection for your next of Kin?
« Reply #13 on: May 25, 2011, 05:02:50 PM »

Long time ago I took the rolex to a pawn shop and was offered RM500; recently I service my watch and the proprietor offered RM1.5k to take it off my hands (after I complaint that itwas sooo expensive to service)

This is normal practice, offer low and sell high. It has nothing to do with the actual value of the watch.

As for me, leave it to the next of kin I guess. Perhaps sell some along the way to pay for the children's education.

Offline chin

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Re: Will you be keeping your collection for your next of Kin?
« Reply #14 on: May 26, 2011, 07:11:39 AM »

Long time ago I took the rolex to a pawn shop and was offered RM500; recently I service my watch and the proprietor offered RM1.5k to take it off my hands (after I complaint that itwas sooo expensive to service)

This is normal practice, offer low and sell high. It has nothing to do with the actual value of the watch.

As for me, leave it to the next of kin I guess. Perhaps sell some along the way to pay for the children's education.

Seriously? U seem to believe that the watch is an 'investable asset' that will grow in value?
I see it as an expensive vanity and a liability (u need to service every 2 -3 years?) but we all need some 'vices'.  :thumbsup:
Very rarely you will have a limited edition watch which you can sell at a profit; unless you are a vintage watch dealer, then you buy cheaply, refurbish then sell high to 'collectors'
« Last Edit: May 26, 2011, 07:13:15 AM by chin »

Offline takashi78

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Re: Will you be keeping your collection for your next of Kin?
« Reply #15 on: May 26, 2011, 07:52:28 AM »
Watches need to be service if worn regularly every 5-7yrs.

99% of the watches sold now will loose their value.

Even the all mighty Rolex will loose value, but it will hold it pretty well after the initial drop.
PAM actually looses less % than Rolex from what i see.

Only watch that will appreciate is Patek, well most of them anyways.

Offline kinson

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Re: Will you be keeping your collection for your next of Kin?
« Reply #16 on: May 26, 2011, 08:00:51 AM »
Nice article, just makes me wonder if I should service my grandfather's Omega Constellation (pictures around the forum somewhere) and wear it. I think watches are great things to hand down to kids (provided they appreciate it). I myself wore my dad's old Licorne (no idea what brand this is, but it introduced me to Sapphire Crystal <3) and wore it for 12 years plus until the movement started giving problems that shops had trouble fixing (sounds a lot like my Honda City). GF has since bought me a Seiko...maybe I'll pass then down in the future, hehe  :Jumping:

Offline TheHobbit

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Re: Will you be keeping your collection for your next of Kin?
« Reply #17 on: May 26, 2011, 08:04:17 AM »

Seriously? U seem to believe that the watch is an 'investable asset' that will grow in value?
I see it as an expensive vanity and a liability (u need to service every 2 -3 years?) but we all need some 'vices'.  :thumbsup:
Very rarely you will have a limited edition watch which you can sell at a profit; unless you are a vintage watch dealer, then you buy cheaply, refurbish then sell high to 'collectors'


Chin,

Sadly I do not believe that a watch is an investable asset. To me a watch is a watch, something you buy to use and enjoy. I get my pleasure from that. To me, when I buy a watch, the value goes to zero the moment I get it. It is mine to use and enjoy, hence no value to anyone but myself. I don't buy a watch with the hopes of making money or if I can sell it for a profit or for that matter if I can sell it.

I also don't take a watch as a liability. All watches needs to be serviced, once every 2 years or 5 years or what ever. All things with moving parts needs to be serviced if you want to enjoy it on the long term. It is all part and parcel of the game. If you don't service the watch, if you intend to sell it, you will have to price it accordingly. Trust me, a watch with a service history sells better as compared to one without. And if you have a watch with no papers, a service paper is worth it's weight in gold.

If and when I sell my watches (I am sure I will), I would price it accordingly, based on wear and tear and current market value. I hold no hopes of making money out of it as I have gained all the enjoyment from having it and using it. If I do make money, it is a bonus, if I break even, fine. If I lose money, well that is part and parcel of the game. But, that does not mean I will not look for a good price if I can get it.

Also I tend to buy pre-loved (currently) as the market I am in supports that. The people here like to change and upgrade their watches. As such, the watches that are sold here are in pretty good nick. So are the prices, if you spend enough time looking and know what what you are looking for. Additionally, I make good friends with people and even watch shops. It has to be 'win win' to the shop and to you. Like the shop I go to. They are very flexible with me in terms of what I want and pricing. Why? Because, not only do I buy from them, I also brings friends to buy from them. So the shop is happy, and I am happy and my friends are happy. As such, I normally don't pay retail and sometimes i get away with great discounts. It is a relationship game. Of course having friends that are 'enablers' sometimes help, but in most case don't as they tempt you with many many evil things.

Offline chin

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Re: Will you be keeping your collection for your next of Kin?
« Reply #18 on: May 26, 2011, 08:29:24 AM »
Nice story....

Actually I oso have a vintage rolex oysterdate as my family heirloom.


Now looking for a cheap everyday watch for myself.  

Finally got my 'everyday watch' - took the seagull off CK77's hands

Offline ck77

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Re: Will you be keeping your collection for your next of Kin?
« Reply #19 on: May 26, 2011, 08:34:19 AM »
Finally got my 'everyday watch' - took the seagull off CK77's hands
Hope you enjoy it  :thumbsup:
 :Cheers:

Offline chin

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Re: Will you be keeping your collection for your next of Kin?
« Reply #20 on: May 26, 2011, 08:35:19 AM »
Nice article, just makes me wonder if I should service my grandfather's Omega Constellation (pictures around the forum somewhere) and wear it. I think watches are great things to hand down to kids (provided they appreciate it). I myself wore my dad's old Licorne (no idea what brand this is, but it introduced me to Sapphire Crystal <3) and wore it for 12 years plus until the movement started giving problems that shops had trouble fixing (sounds a lot like my Honda City). GF has since bought me a Seiko...maybe I'll pass then down in the future, hehe  :Jumping:

U should refurbish your grandfather's Omega, sometimes the 'story' behind the watch/ sentimental value is worth much more.
I enjoy and cherish my 50 years old RM500 (according to 1 pawnshop) Rolex more then my brand new MauriceL

Offline kinson

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Re: Will you be keeping your collection for your next of Kin?
« Reply #21 on: May 26, 2011, 09:20:19 AM »
Nice article, just makes me wonder if I should service my grandfather's Omega Constellation (pictures around the forum somewhere) and wear it. I think watches are great things to hand down to kids (provided they appreciate it). I myself wore my dad's old Licorne (no idea what brand this is, but it introduced me to Sapphire Crystal <3) and wore it for 12 years plus until the movement started giving problems that shops had trouble fixing (sounds a lot like my Honda City). GF has since bought me a Seiko...maybe I'll pass then down in the future, hehe  :Jumping:

U should refurbish your grandfather's Omega, sometimes the 'story' behind the watch/ sentimental value is worth much more.
I enjoy and cherish my 50 years old RM500 (according to 1 pawnshop) Rolex more then my brand new MauriceL

I really would love to fix it, as I'm a sentimental kinda guy. Here's the post: http://www.malaysiawatchforum.com/index.php/topic,1827.0.html

The thing is, based on the issues that the service center mentioned to me (on the 2nd page), it seems like it'll come up to an expensive bill, and I don't really wanna spend several thousand bucks on it just yet, as I've got other things to save up for at the moment (marriage, new car, house etc). In the future, I'm definitely getting it fixed and putting in a leather strap. Actually, if the bill is less than RM600, I don't mind fixing it up, but I don't really want to spend RM100 to find out just yet :/ Maybe I should try one of those watch shops in Amcorp Mall instead...hrmm.

Btw, found a similar variant of this model selling for $153 on xBay, that's about RM450....O_o

[auction link not allowed, link removed]
« Last Edit: May 26, 2011, 09:24:50 AM by ck77 »

Offline chin

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Re: Will you be keeping your collection for your next of Kin?
« Reply #22 on: May 26, 2011, 09:39:30 AM »
Need to send back to Swiss  :HammerHead: The bill will definitely cost a bomb i.e. will not cost < RM600.00 I don't think you can service an Omega for < RM600 (mayb some sifus can advise on this matter?)
U can get it refurbished by non-authorized service centre but that might diminish your 2nd hand value (if u intend to sell later) and Omega SC will refuse to service in future.

All depend on you - as I don't intend to sell my watch, I refurbished mine at an unauthorized SC and it cost me RM800 to overhaul and another RM1.8k for the bracelet at a time when my gaji was < RM1,800  :Blue:. But okay-la since the watch is older then me (i was told that it was manufactured in 1960s)   

On the side note I oso wish to know where our fellow forummer service their vintage watches, is it a must to go back to Authorized SC? Rolex refuse to service my watch unless I change the casing and hands = RM4k

Offline kinson

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Re: Will you be keeping your collection for your next of Kin?
« Reply #23 on: May 26, 2011, 09:41:44 AM »
Maybe we can start another topic for that, I'd love to discuss more about it. Don't want to go off-topic in this thread, and it's a nice thread :D