My dad gave me his 1980's Rolex GMT Master watch and its a little beat up (a few scratches on the glass). I'm in a lot of debt from school and am wondering if I could sell this watch to help pay off the debt.
I have the original box, but not the papers.

Post Photo
likefunny
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

I have no concept of how much debt you are in nor how much you could sell the watch for- so it’s hard to make an economic decision. But I think the real question is do you really want to sell a gift from your father?

likesmarthelpfulfunny

I want the watch to just tell people the story about how I bought this blood money watch.

likefunny

Keep it . Some things, like a rolley from your dad, are priceless. Just put it away in storage or whenever come back to it when you have the cash and get the glass repaired. Further down the line, it’ll cost you a lot more to try and buy a Rolex

likesmarthelpful

This is so true! I hate you have debt, so do I, but in the scheme of things something will work out that will help you pay it off. Do not sell something like this.

like
Recent IconRecent

Sell it. Maybe there is a way to authenticate it somehow? Or go to a Rolex dealer/appraiser?

likehelpful

Go to a few different places! So that you have multiple appraisals

likehelpful

Sell it to some wolf of Wall Street finmeme wannabe kid. You can charge double

like

You may be over estimating how much you can get for this. It may cost you a couple of thousand to refurbish it. I'm not trying to bring you down. Quite the opposite, I'm saying don't stress so much about it. It's not a life changing event. Considering your other comment, get a few offers and get rid of it. Be done with this. You are going to get less than $10k from this in the end.

upliftinglike

There’s a fancy watch bowl you could post in. They prob know more about value and whatnot

helpfullike

There is a watch bowl. Ask this question over there.

likehelpful

Thank you didn't know

1. Should I sell it? Or keep it?

2. Should I pay to fix the scratches on the glass or leave it?

3. Where can I get the papers to prove its real?


PS. Photo is from Google, but thats the exact type/colour of watch.

Thank you.

like

Keep it. Your father gave it to you.

When no longer alive it will be more valuable to you.

Besides the if the face is scratched. I am assuming their scratches all over it. Prob not worth that much.


Rolex collectors like their watches in good condition.

I’d tell your dad you’re in debt and thinking of selling it. He may cover your debt to keep the watch in the family. (I would)

like

Before you take it anywhere or send it anywhere, call your insurance company and get a rider put on your policy...you don’t want to have issues if it’s lost/stolen between now and a potential sale or if you do keep it. Adding a rider to a renters or homeowners policy for a special purchase like a nice watch is probably under $50 per year.

helpful

You can sell it without the papers. Look for a watch dealer who can authenticate it and will buy it from you.

helpful

How much?

Depends on his intent when he gave it to you. If it’s a sentimental gift from father to child then you gotta keep it (and you will realize why in 20 years). If he found it in the back of the closet and just gave it to you on a whim, sell it.

You should consider sending it to Tourneau and seeing what they offer you. Then you can decide if you want to sell it or not.

Check realreal.com find a similar watch there and see the price. You can also ask them to appraise your piece.

Your dad doesn’t sound honest, sure it’s real? And sure it wasn’t stolen?

That’s good. Good luck.

Assuming you have a loving and supportive relationship and will value the memory of your father when he is gone eventually; you should hang on to this and handle your debt in another fashion.

Related Posts

Any suggestions on timing to tell my boss I’m leaving teaching for another job? I make 26k a year and have been working multiple jobs to pay bills. I’m leaving primarily because I get paid so little. New job pays double for better and less stress. I feel bad not telling parents who have signed up to come specifically for me. But they have zero idea how poorly I’m paid.

like

Trivia question: What asset is this?

Post Photo
likehelpful

Anyone from BlackRock willing to give a referral?

like

I'm a recent grad with about $5k to my name, decently little college debt (thankfully). What financial advice would you give me aka your past self?
Some great tips I've seen already: make savings an automated pull from your checking, make goals, start on retirement asap.

likehelpful

How often is it that a contract position within pharma leads to a full- time role? Has anyone been in a contract position? Would like to know more about the pros and cons of it

like

Hi all. I’m thinking of getting into a university and working in operations or something. Has anyone heard of an internal auditor making a jump to work at a uni?

like

Folks living in New York, which area do you suggest living? Try to avoid Manhattan because of the homeless and $$$. LIC or Williamsburg?

like

Full service NYC Real Estate firm (transactions/litigation/admin) of all sizes looking for referrals. Top firm.

like

Accenture strategy folks.. can someone confirm if work from home is about to end?

Anyone have experience moving to a different agency that’s in the same holding company? What’s the policy for WPP, omnicom, etc?

like

What is an appropriate salary for an entry-level reporter for a digital newspaper owned by Rupert Murdoch in New York City? I’m getting the idea that it would be $55-$65K and would like to know how to be at the top end of that salary.

like

Kirkland Sauvignon Blanc is the best value in wine. Fight me.

likefunnyhelpful

Your best word of wisdom to the next generation ?

Here is some of the best I have heard « separate your emotions from the outcome. If you did your best and set everything you could for the outcome to be successful, the next steps may be beyond your controls so take a step back »

likeupliftinghelpful

What is LEAD?

like

Does anyone else use inflow?? It did a nice update last night and now I’m lost AF for uploading a pbc list. Any help would be appreciated

likehelpful

Queridos creativos hispanos, por favor todos los días sin y con cuarentena veo que trabajamos duro y hacemos las cosas bien hechas (a veces hacemos más de lo que nos piden) y a la nuestros compañeros les gusta ynos siguen usando. Está bien que nuestro trabajo sea reconocido pero por favor no sean tímidos en decir que necesitamos un salario decente tan cuál como todos los demás que más bien hacen menos y todavía les pagan. Hay que insistir no solo para el individuo pero para ayudarnos a todos!

like

Does anyone know what license does one need to be a FA in UK?

like

Is now a good time to buy an investment property?

like

Glb 250 vs glc 300? Well did not know glb 250 is quite good with an optional 7 seater option?

Additional Posts in Personal Investment Chatter

What are some good stocks to buy today?

like

What are some ways you guys earn passive income (other than stock market) ?!

like

I haven’t used my credit cards in years. They may close the cards unless I make some transactions. Shall I continue to keep these cards?

like

Left KPMG last year to move to smaller consulting firm. I still have my 401k over there and haven’t rolled it over anywhere. What are my best options? Currently maxing out 401k

helpful

I max out all tax-advantages accounts and put 30% of my take home into an index fund. What/where else can I invest in?

like

Came across a duplex for 475k in SoCal. Up and coming area that’s getting gentrified fairy fast. Looking to rent out the front for 2k and and splitting the back with a housemate for 1k. Cont below.

like

what’s the most you’ve spent on brunch 🤣

funnylike

Better alternatives to mint for understanding spending/spending categories over time?

like

VTI, VOO, or VTSAX - which do you all prefer and why?

like

When you all place limit orders, how do you determine your limit? I was told to never place a market order so I always select limit, but then randomly choose a number somewhat below the current market price with really no rhyme or reason.

like

If you kids are the beneficiaries on my will — can I put one of them as the primary executor as well ? I’m divorced btw

like

People investing in rental real estate what’s your ROI this year? My profit divided by current value is barely above 3% (and that’s with no renovations and 100% occupancy). Should probably sell it and invest elsewhere...

like

Anyone in a Big 4 (maybe better at EY) ever done an alternative or a fund private investment? If so what are the rules/process to take to clear it if anything? Or just report it in independence?

like

Is watch a good investment vehicle in terms of resale value?

like

How do you calculate what tax bracket you will be at when you retire? Keep reading choose the option based of what tax bracket you will be at retirement but I literally have no clue

like

Is there any way to make pretax contributions to a retirement account outside my employer plan if:

1. My employer offers a 401k plan

2.) Im over the income limit

Here’s my situation; I left a higher paying consulting position for a lower paying position (better WLB). When I left consulting, I got paid out for my PTO, and I received a signing bonus with my new company. I expect my income will be significantly higher this year than it will be for a while. I know I could … (see comments)

like

Has anyone maxed out their Roth for the following year yet? Thinking of taking it out of my account for the following year and capitalize on the gains

like

1 yr treasury bills almost at 4% interest. Maybe not a bad time to buy bills for those looking for a short term investment (assuming you’ve already maxed the Series I bonds)

like

Currently building a house, 6 months to go and have down payment and a little more in a HYSA. Is it wise to put the remaining in an S&P 500 ETF to capture some of the bull market or hold onto cash?

Any thoughts on zero cost fidelity funds. Any you like?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal