Author Topic: Speake-Marin...a worthwhile "investment"?...pls advise.  (Read 18999 times)

Offline hanz079

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Re: Speake-Marin...a worthwhile "investment"?...pls advise.
« Reply #25 on: June 26, 2012, 07:27:52 PM »
A very good reply.
Missed a few earlier ones.

Anyway, we are selling the idea of "buying if you like it... and if you can afford it"
It is not wrong to think of resell value when buying a watch but it must not be the only criteria when buying a watch.

Watch companies are also selling the wrong idea and that's where the misconception begins.
Reading stuff like certain timepieces going for obscene amount of money on the hammer and not realising that it is those are rare and exceptional cases.


Walk into any watch shop and when you browse watches and ready to make a purchase, make some small talk, about value... and there goes... the sales ppl will go on about how watches are a good investment. That the 10k you spend today on this particular timepiece is worth every single cent as five years from now, the same watch will now cost at least 30% more... and the 10k that you have will only buy you a lower end model.
That is where all this starts.

And here we are, talking about value retention and stuff well knowing that any watch you buy will take a hit if you decide to sell save for a few brands, and that is if you can afford that brand of watches.

Say if a person is ready to drop some serious moolah on a watch that he likes... alot... and decide not to buy it because the value retention is not favourable... then he buys a watch that he did not like but because the value retention is better than the earlier one. It's his choice right... as long as he is happy.

If every single one of us buys with resell value at the back of our heads, most brands will collapse and go bankrupt... but they are still alive and kicking... which means most will have an occasional irrational purchase if you like to call it that.

Value... the way I see value is... if a Seiko worth rm500 can give me problem free usage for 5 years and breaks down after that... that's 0.34 sen for a day of usage... that's value...

This is turning out to be a pretty good discussion.  :thumbsup:
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


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Offline Godzillaz

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Re: Speake-Marin...a worthwhile "investment"?...pls advise.
« Reply #26 on: June 26, 2012, 07:40:05 PM »
I didn't say is wrong to have 'monetary retention value' as a factor. Just as it should not be the priority. It could be list in one of the top 10 reason but not top 3. Of course this is only my opinion.

I guess I have many experience while I chase for the perfect deal I lost the true passion of what I came to watches in the 1st place.
Do I only look for those model where my lost minimal?
What if deep down those are not really what I want?
Maybe I can learn to love it since it's such a good deal?
If I don't like it I can sell it later without losing much ...
Do I start looking where all the bargains are?
Where are the cheapest place to buy?
What are the hottest most sort after model that guarantee no money lost when I sell?
What is the next watch that going to get "goreng" by the AD or gray dealer?
What are the current trend for watches?
Which limited edition is the most popular?
... ...

I lost myself. I am not even sure what I like about that watch in the first place....
Better sell it ...
Oooh! a seller letting go a PP with huge discount better grab it...

The vicious circle is hard to break.

I came to my senses later and just buy whatever I love. Not likes but loves. Likes only need an impulse but loves demand a commitment.

I am committed to the relation I have with most of my watches if not all. All the likes have gone only the loves stay. I think they are a better company :)

Regard
Tyler


With due respect, there is no need to even bring in inflation into this topic. 5 years ago, one could grab a submariner with around rm16k. Try to save your 16k into banks and see if you are able to do it now? So, in the sense, I dont think we should really calculate inflation since bank FD interest rate will never be able to catch up with inflation.

I said that many times and i will reinterate again. Its absolutely nothing wrong for one to consider the 'monetary retention value' when one is buying an expensive watch. How to buy, where to buy, when to buy and what to buy is an art. I guess thats what makes watch collection interesting. I like the classic case of PP5980ss. When it was first launched few years back, one can get it at around rm90k. Due to the limited supply and high demand, the watch was subsequently sold at premium price of around rm250k in most asian cities. Then, come lehman brother tsuinami, some collectors able to grab it at around rm90k from some parts of states. Just imagine if you paid for 250k back then and even at current market, one can still grab a new one at around rm140k from parallel importer.

Its a globalised world now. I have bought my watches from KL, Tokyo, HK and even Geneva. At time u may not even have to travel there physically. Ask your relative and or friends to do a favour for you. 5-6 years ago, a friend of mine bought a new sub green bezel at around rm19.5k from KLAD and guess what i only paid rm16k at the same year from Tokyo.

Anyway, life is about choice. Save and except the particular watch is something which u cant sleep without it, then i will say by hook or by crook you should just go for it without even thinking if u can sell it later. But come on, watch makers keep making more n more appealing models. So sooner and later and we may just get sicked of some of our collections. It does not make much sense personally to keep so many watches if i no longer wear them for very long time and if there is no sentimental value to that particular watch, why not just sell it so that i can use that fund for another new love. We just have to live by our means. Nothing wrong with that. Even high income nations like States, Spore, taiwan and HK, you see people ask about 'value' before they pull the trigger. Can afford is one thing and whether is rationale to just buy it is another.

Well if we excluded inflation then we will never lose money with our watches. Just hold them for 50 years then all of them are gainer.

Joking aside. I don't get what are you trying to say here.

Regard
Tyler

I won't buy ur used Explorer at rm175000 now but i might 15 years later. basically u dun make $$ but u dun lost $ either. I have discounted inflation here. but in term of figure, u didn't lose.

yes, if you dun sell ur watch, u probably won't lose other than servicing them. anyway... once u not wearing the watch and newer ones came along, u have no space to store them and those will shallow pockets will hv to sell those u seldom wear to compensate the money u paid for the new watch.



A Explorer II 16570 can be bought brand new in the late 90s for roughly RM11,000 and it can still be bought now around RM11,000 but used. That's 15+ years!

A modest inflation rate of 3% I need to sell at 60% above my cost. Would you buy my used Explorer at RM 17,500::)

Anther way of looking at it is. The value of my watch has gone from RM11,000 to RM6,875 in 15 years.
Together with service and maintain cost of say $1,015 over 15 years (modest but believable)
The lost of owning a Rolex Explorer is $4200. Which mean my lost is 38%

The funny thing is ... a new watch from any brand (ok exclude the very obscure ones) bought and sold within 2 years suffer almost the depreciation so all that holding out to break-even with a rolex is ... well you tell me  ;)


I too wish to buy cautiously and avoid great financial lost but the truth is the game is set against us as consumer.

Better work harder and follow the heart 1st then find way to spend wisely is what I learned in this hobby. Save up for that watch you truly desire and have it for a longtime or better lifetime :)

You don't lose any if you don't sell.  ;D

But we need to make sure what we buy can keep us passionate for a long time. For that the heart has to come 1st.

Hope you guys can have something useful in my rambling.

Regards
Tyler

Hans, nothing wrong for you to look for a watch and considering whether it will 'retain value' or not. I notice some of the members here like to sell the ideal of 'buying it if u like it'. I will just say I am minority here. I do consider very carefully on whether one particular watch can retain value or not before i pull the trigger especially for those which is above 15k.

Well, rm15k for a watch is not considered as small sum even for advanced economy standard. So i am not sure if bland people is so loaded until one can go ahead and simply spend 60k without considering its 'monetary value' later. Of course, we all know that watch is not good investment, but i guess it will definitely give us more comfort when we realise that our collection 'gained in value' or 'not losing a lot' after a few years down the road.

There are just so many nice models and brands out there. Unless one is lim gotong's grand son or know how to print money, i see nothing wrong for us to consider the future value of our collections. We will never know if in case of rainy day we may have to force sell our collection. Never say never especially when one's collection is considerable. For instance, I like VC overseas dual time and Breguet La tradition a lot, but i rather give it a pass since the resell value for those two can be quite bad. affordability is one thing, spending money wisely is another thing. We just have to live with our means since everyone has his budget.  its perfectly alright for us to buy a watch which we like while not losing too much money if we decide to sell it for any reason.

Back to the topic of independent watches. Well, save and except highly acclaimed 'independent watch makers' like PP and AP, I think most independent watches will have very bad resell value. I have seemed plenty of them selling at less than 50% of its price at auctions, mind you thats before seller's commission. So, if you are keen, try to scoup out those auctions. There are a number of them such as Sotxxxx, Chrisxxx, Bonhxxxxx and Antiqxxxx. Check them out if you are keen. I definitely wont buy them new.

Offline takashi78

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Re: Speake-Marin...a worthwhile "investment"?...pls advise.
« Reply #27 on: June 26, 2012, 07:58:48 PM »
Coming back to the topic since it says PSM.

I sold 2 Rolex, 1 Damasko + cash top up to buy my PSM.

Was it a worthwhile investment in my opinion?
Will i do it again if presented with the same scenario?

Answer is a BIG HELL YEAH!

Why?

It brings a smile to my face each time i am stressed at work and look on my wrist at this beauty.
At the end of the day that's my ultimate deciding factor.

Am i taking a huge loss when selling IF i decide to sell? Maybe, maybe not.
No one knows. For now.....


Offline IWCking

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Re: Speake-Marin...a worthwhile "investment"?...pls advise.
« Reply #28 on: June 26, 2012, 08:08:24 PM »
Like or love is just a pre condition. Hey mate, i think your case is just too extreme. I am not even suggesting anyone must scoup for a watch which depreciate the least as sole and only criteria. My point is nothing wrong for one to consider 'value' especially when the amount at stake is considerable. As far as I am concerned, life is about choice. Nothing wrong if anyone wants to put 'monetary value' as top 3 or even top 1 of their criteria. Whats wrong of spending our hard earned money wisely? Similarly, I have never suggested that you were wrong in pursuing your pure love. Ultimately, its your pocket, your money and your choice.

« Last Edit: June 26, 2012, 09:15:55 PM by takashi78 »
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Offline takashi78

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Re: Speake-Marin...a worthwhile "investment"?...pls advise.
« Reply #29 on: June 26, 2012, 09:16:47 PM »
Just edited the post.
All the quoting is making the thread too messy.
 :Cheers:

Offline wslee

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Re: Speake-Marin...a worthwhile "investment"?...pls advise.
« Reply #30 on: June 26, 2012, 10:35:03 PM »
This topic really interesting. I always have this question in mind. If i have this RM XX amount,should i buy a watch to invest and hoping that it will appreciate further then sell for some profit or   other type of investment. Or i buy the watch to reward myself?
Prior to buy my first expensive watch(Fortis), i was hesitating,get pushed to buy the watch which i wasnt really like. In the end,i was over my initial budget of "Limited Edition" Moreover,i even lose out on my initial investment to fund for the watch which went double/triple few months later. A big lessons i had learned.
All this while,lots of ppl said buy rolex then u wont go wrong even if u sell it. Do i like it?(keep asking myself) Answer is no but i would love to add into my collection cos is Rolex (no offense to rolex lovers)
For me,i try to buy watch which suit my liking, for watch will never really be an investment.

Offline Plankton-IkanBilis

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Re: Speake-Marin...a worthwhile "investment"?...pls advise.
« Reply #31 on: June 26, 2012, 11:19:44 PM »

Dear Moderators,

If you all don't mind, I would like to start a new thread concerning the factor of  "Investment" or "Retaining Monetary Value" in watch collecting.

The initial purpose of me starting this "Speake-Marin" thread a few days ago was because I fancy the watch very much (ie the Serpant Calender) and was wondering how the price of watches by independent watchmakers would fare in the next few years after their purchase.

The good thing about all this is that I have already gotten the answer to my question (from the initial few posts). However, the thread is now beginning to have a life of its own and is moving away from its title : Speake-Marin...a worthwhile "investment"?...pls advise.

So forumers, feel free to express your thoughts in the new thread and let this one be within the parameters of experience and views concerning watches independent watchmakers,

Offline Godzillaz

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Re: Speake-Marin...a worthwhile "investment"?...pls advise.
« Reply #32 on: June 27, 2012, 02:17:15 AM »
I'm sorry to have gone off topic. Back to your initial question. The after market price for independent watchmaker's watch, of course this is my personal observation and experience is always going to be lower than initial purchase price. Unless we are talking about the selected few.

There are a few models by some independent watchmaker than enjoy value appreciation or price retention. On top of my head I say Phillippe Dufour's Simplicity, George Daniel's Millienium watch and F.P. Journe's Tourbilon et Remontoir are the few examples.

There are others that will join these rank eventually but there's no way of telling who's because the used market for these independent are rather illiquid and there for it's usually a buyer's market. If it do get sold it's usually thru auction house and the fees will have a huge dent on the pocket. 

Even though with such uncertainties, owning an independent watch is a great experience if you get to meet the maker. Most independent watchmaker don't make enough to be rich. They are in it mostly because of pride and passion. The talented ones really provide us a product few others can.

Take Peter Speake Marin for example. The piccadilly's case (the ones used by the new serpent calendar) is remainder of Peter early days in UK and take a look at the construction of the case. It's an engineer vision which mean function comes before forms. The piccadilly hour hand are the signature of Peter's as well. It shape is unique because it was an accident when Peter was making an hour hand by hand and he over ground the hand at an angle which result in this shape.

The case back has no screws to hold it in place and the seems is almost invisible if don't know where to look.

If you are familiar with culture you can see this is actually a very british watch (although it is made in swiss). It has the spirit of a brit. I like the larger 42mm case better because it accentuate the design giving it more "strength".

Though is not cheap but it's lower than most independent watchmaker would charge.

Make no mistake this is no Rolex but it shouldn't be. It wouldn't come close even if it try but the same can be said for a rolex ;)

Regard
Tyler


Dear Moderators,

If you all don't mind, I would like to start a new thread concerning the factor of  "Investment" or "Retaining Monetary Value" in watch collecting.

The initial purpose of me starting this "Speake-Marin" thread a few days ago was because I fancy the watch very much (ie the Serpant Calender) and was wondering how the price of watches by independent watchmakers would fare in the next few years after their purchase.

The good thing about all this is that I have already gotten the answer to my question (from the initial few posts). However, the thread is now beginning to have a life of its own and is moving away from its title : Speake-Marin...a worthwhile "investment"?...pls advise.

So forumers, feel free to express your thoughts in the new thread and let this one be within the parameters of experience and views concerning watches independent watchmakers,