Annual budget for watches

[sm]

My observation:
1. Wis has a shopping list and will pull the trigger when the grail comes along. Could even be a few times a year
2. Target of 1 or 2 pieces a year
3. A grail comes along - part cash and trade
4. A %tage of their annual income
5. Stay w a fixed numbers and rotates/cull whenever require
6. Build up a collection, almost a heirloom
7. A reward for an achievement/celebration
8. Addicted- just can't stop
9. Any others apart from the above

Honestly, please share your thoughts on how do you allocate your annual budget for this expensive indulgence. Some of you do have a wide collection despite your age. A broad discussion since 2014 is only 3 wks away.

Sm

[dpkong]

1. No shopping list (who am I kidding??). Will pull trigger if something I think I want becomes what I know I want. Can be 0 per year.
2. No yearly quota. Buy when the feel is right. Desire/price/condition are main factors.
3. Agree. Depends if I can let go of a certain piece.
4. No % as long as it doesn't interfere with other commitments.
5. Trying to stick to 2 or 3.
6. Not at the moment.
7. Not applicable. See No.2
8. Not applicable either. See No.5

There is no "annual budget" but I can only draw from a liquid pool. Trade or abstain as required. I can, and will dispose if necessary, but luckily have no need to do so thus far. It's only a watch.

Sadly, it appears my desires have so far exceeded that liquid pool so I have not been able to acquire anything new lately. Buying something else just to scratch the itch is not my idea of a good purchase.

[chrisyen]

I don't really plan... Anything I like, I just hold back now.... To think I really like, can I sleep well without it, if I really want it...

I will study the price and my financial situation....

With that I normally get motivated to work harder to earn more for it...

Having said that I do hv a tendency of buying some lower price watches without any study

[silverstan]

I used to allocate budget for watch each year, for both my own and my wife.
But this plan has been suspended since last year due to pour in all my budget for house renovation. Only managed to get a Rolex for my wife when she gave birth to our first child early this year.
Cleared payments for my house renovation, Hopefully my plan can back on track next year. There's a watch I am aiming since last year... If I didn't bought this house & do renovation, that watch already on my wrist... 

It's time to start hunt for her again.. it's a discontinued watch.. Really need time to search now.. 

[skyliner23]

As for me , I don't normally plan how much to set aside . I started collecting watches many years ago then slowly upgrade and trade as time passes by or if the right Gail is on sight... I don't come from a rich family so at times I feel sad to sell away watches that I loved  but I alway tell myself that I am upgrading my collection so no turning back.

[JOS2012]

I'll share my approach on what sm has posted...

I have an existing long wish list of watches to which I add on as and when I come across latest reviews or SIHH/Basel novelties. Based on my funds, I'll never be able to fulfill my wish list in my lifetime.
No target of how many pieces per year. As and when I come across a piece on my list at a price I can accept, I will get it if my funds permit.
I usually don't sell a piece not unless the replacement is a similar manufacture having the same complications but technically better or emotionally more appealing than the original then the original piece has to go, otherwise it will sit there and never get worn again
In one grooming course donkey years ago, they say that your main watch should cost at least 1/3 of your annual salary, if not more.. So far I can't bring myself to spend that much yet.
No fixed number of total watches although I'm repeating the same mistake over and over. Prior to 2010, I decided to reduce my total collection to not more than 12 watches that had real horological & economic value as well as emotional attachment to me and to sell the rest. Since then my acquisitions have accumulated to about the same number as pre-2010, i.e. a different watch per day for > a month
On paper its easy to limit the number of watches but being human we sometimes are illogical and are ruled by the heart rather than the head.
No heirloom as no one to pass it on to but will sell everything when I'm too old to read the dials except the 1 piece I'll wear with me 
Only bought a watch to celebrate my first job and none since
Addicted is an understatement...... obsessed is more like it

 

[Godzillaz]

Fun post. I'll play

My observation:
1. Wis has a shopping list and will pull the trigger when the grail comes along. Could even be a few times a year

Yes I've a list but is not annual

2. Target of 1 or 2 pieces a year

Nice goal but from personal experience my timing are way off due to the piece I hunt don't show up often or in pace

3. A grail comes along - part cash and trade

Yes

4. A %tage of their annual income

Don't really follow that

5. Stay w a fixed numbers and rotates/cull whenever require

Tried. Fail miserably

6. Build up a collection, almost a heirloom

Build a collection yes. Heirloom ... ... not worthy yet

7. A reward for an achievement/celebration

Mostly justification 

8. Addicted- just can't stop

I will not admit to that

Best
T

[el118]

1. Wis has a shopping list and will pull the trigger when the grail comes along. Could even be a few times a year

I have a want list that may change as time goes by. sometimes those not on my list pop up irresistably may alter the list

2. Target of 1 or 2 pieces a year

I have no annual target on qty. trying to control the no though.

3. A grail comes along - part cash and trade

Just pulled the trigger on a long wanted grail

4. A %tage of their annual income

dun practise this.

5. Stay w a fixed numbers and rotates/cull whenever require

I set a target of 10 ( from 7 in my current collections) so that to control myself dun simply pull trigger

6. Build up a collection, almost a heirloom

Trying to achieve that

7. A reward for an achievement/celebration

Sometimes, not always.

8. Addicted- just can't stop

Some kind, but under heavy control now. (It would be inconceivable for me just 5 years ago to have spent the amt of money i did on watches).

9. Any others apart from the above

[Lurch]

All of the above

[nightwatchman]

1 every 5 years

no money

[dpkong]

1 every 5 years

no money

That's not a situation, it's a state of mind.

[ndtaan]

JOS2012. Since then my acquisitions have accumulated to about the same number as pre-2010, i.e. a different watch per day for > a month

wow! you mean,you've more than 30 watches in your collection.
I can relate to that cos' I was like that before;I get too emotionally attached to them.
Than when I tell myself that in order to enjoy other watches,I have to let go and put a limit to those "keepers".
So now there's no annual budget cos I know eventually it'll boils down to the number of keepers that I've determined. 

[nightwatchman]

1 every 5 years

no money

That's not a situation, it's a state of mind.

it's not a state of mind. it's what my wife tells me.

[ndtaan]

1 every 5 years

no money

That's not a situation, it's a state of mind.

it's not a state of mind. it's what my wife tells me.

another one bites the dust..tah..tah...tah....another one bites the dust....

[JOS2012]

There are easily several MWF members I know of, who have more than 30 pieces..a few running into 3 figures even
To put it into perspective, abt 1/4 of my collection is already taken up by Seiko, Ananta & Grand Seiko.
A few watches were unplanned even though I've been trying to control myself with impulsive acquisitions. Generally however, I only buy what's on my wish-list.

I love variety and wear a different watch daily to match the mood, occasion and dress code.

I've been through the accumulation, consolidation, disposal and re-acquisition phase many times over...
I don't think it will ever be over till I'm 'finally over' this hobby...

JOS2012. Since then my acquisitions have accumulated to about the same number as pre-2010, i.e. a different watch per day for > a month

wow! you mean,you've more than 30 watches in your collection.
I can relate to that cos' I was like that before;I get too emotionally attached to them.
Than when I tell myself that in order to enjoy other watches,I have to let go and put a limit to those "keepers".
So now there's no annual budget cos I know eventually it'll boils down to the number of keepers that I've determined.

[kenji1903]

1 every 5 years

no money

That's not a situation, it's a state of mind.

it's not a state of mind. it's what my wife tells me.

similarly... everything depends on the approval of Madam Finance Minister 

[theseira]

1.I have a list of watches that I am interested in but I won’t necessary pull the trigger.
2.No annual target for me. I am going for quality pieces. Unfortunately quality pieces cause huge damage to the bank account!! ?.
3.A grail for me is something I will achieve someday. A grail came along once (PP 3970) and sadly I am not yet ready for it. Even if I trade my 2 pieces in my collection, it would only make a small dent in the cost of the PP 3970.
4.No percentage of annual income is allocated to my watches.
5.I have a target of 5 more pieces I would like to own. Personally I would not go more than 7 pieces. I’d focus on improving the quality of my collection rather than increasing the quantity of watches to own.
6.I would love to have a meaningful collection. I am a big fan of chronographs. 
7.Yes, I will get one piece for my 30th.
8.Addicted but I do not make any purchases until the right time.
9.Sadly I got to say like DPKong the pieces I am interested will cause too much damage to my liquid pool! As for my desire of quality pieces, realistically I can't be a regular purchaser. So I have to save up or make a huge amount of cash before I can purchase something!

[JPSP]

1. I've only a few in my list but I've been telling myself that i'll only commit to buy another 2 by next year (I would like to stop this addictive hobby)
2. Target only max 2 by end of 2014. Bought 1 mid this year already
3. If a grail comes along - cash. I've sold off all those watches that I didn't wear back in 2010. Those in my collection now are the "real" eepers that I really like.
4. A %tage of their annual income - not really. as long as I feel that I can afford it..i'll buy it.
5. Stay w a fixed numbers and rotates/cull whenever require - fixed at 12 max now. I'm currently at 10
6. Build up a collection, almost a heirloom - not heirloom but a collection that I can feel "complete" with brands/models that have rich heritage/aesthetics or movements.
7. A reward for an achievement/celebration - I tend to buy 1 or 2 watches a year (for the past 2 years). purchases are not tied to any celebration/achievement. Just want to feel "shiok" when you own a watch. At a crazy stage, I bought 12 watches every month back in 2008/2009
8. Addiction - I think I like looking at watches on the net now but I don't frequent boutiques/ADs nowadays.

[CKL1213]

no budget, buy now suffer later, old and bad habbit

[Lowprofile]

If you buy things that you do not need, soon; you'll have to sell things that you need. - Warren Buffet

My be true, my be not...

[Ilovewatches]

For me it's more like making a list of the watches I really like (within a price range which I'm comfortable with), and then saving enough money to buy them. Can be in a few years or few months, depending on situation. Not necessarily once a year.