When is the right time (if any) to buy a nice watch?

For context, I am 22, I make $78k (projected to be $90k in October), have $25k in stocks, about $20k in crypto, and $15k of cash. Expenses are about $1500/month, everything else is invested.

I am anticipating a bonus of around $5k in July. Does it make sense to spend all of that plus some for a nice watch? At what income level did you make a purchase like this? I am trying to justify it in my head but I don’t know if I should wait.

likehelpful
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One word of advice, never assume future salary until you have it on paper in front of you. We all do it but you will almost always be disappointed if it doesn't meet your expectations.

With that said don't spend that much on a watch now. Honestly I would say don't spend more than 1k.

likefunny

Wtf does that mean

funny

Man you can do so much with 10k, shame to see it wasted on a watch

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Recent IconRecent

Never - invest more in appreciating assets and less in optics. That said, it’s your money so spend it however you prefer!

likesmarthelpful

Don’t buy watches as an investment, period. However, they do tend to hold their value and even appreciate if they’re a top brand right now. There’s a bit of a bubble

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My total comp is 160k. I just bought a used Model S for 80k. People on here told me I was making a financial mistake, but they don’t know all the factors.

They don’t know that I have been driving my college car for a decade with 200k miles. They don’t know my monthly expenses are 1400 and I save/invest 7000 dollars a month. They don’t understand that sometimes a luxury purchase helps motivate you and rewards you for you hard sustained work.

My point is, be logical but also don’t forget to reward yourself. Sounds like you understand how to save money so go ahead and reward yourself, but be reasonable.

likesmart

Why are you holding so much cash after a big purchase? Saving for another one?

Why not bank the bonus? Planning on leaving soon?

likeuplifting

E11, that 90k in NY is like 70k in most T2 FYI

Never

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Please see my post above in reply to KPMG2 (in case it gets buried) about the other side of this purchase. It’s spoken like a watch enthusiast, but everyone has their interests and hobbies - you could get an M3 or a Tesla Model 3 and half of these people wouldn’t bat an eye. Other people travel the world or join country clubs or tennis clubs and it would never attract the kind of scrutiny that these posts about timepieces tend to draw.

For the financial side of your question, it’s less about income for me. I wait to purchase a watch until I could afford to buy it twice without really thinking or missing the money. This defers purchases for a while but I end up with a collection that I value much more, where each piece means a lot to me and I plan to keep them all forever.

If you’re interested in watches, I’d recommend starting small - get a piece in the 0-1000 range and/or maybe the 1000-4000 range. Figure out what you like and what you don’t like. You probably don’t want to be the analyst at your firm rocking a $10k watch, but if you work your way up to that point, you’re never “that guy” and you end up with a well-rounded collection of solid watches that mean a lot to you.

One final point: once you get married, this kind of purchase will probably become a little harder to justify - someone else will have skin in the game and she’ll probably see this as money better put towards a house - and at that point, it probably will be. If it’s something that you appreciate and you want to own, get yourself one or two watches that you really love before you buy an engagement ring.

I bought a <1000 watch at 21, a $2000 watch at ~23 (first bonus), and a $8500 watch at 26. I’m 29 now and getting engaged in the next year or so - I’d like to pick up one more watch between now and then, and hopefully round out the collection for the foreseeable future via a wedding gift.

Just my $0.02.

likesmart

Watch bowl

https://joinfishbowl.com/bowl_uawxjwauoa

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Second this - a nice watch has lots of different definitions and this bowl is very helpful in understanding what watch you really want. Not all nice watches or first time luxury watches have to be a $3k+ piece to be appreciated

You’re doing well and you’re in a place where you can splurge once in a while. If you see a great watch and it makes you happy - buy it. 5k, 6k… in 10 years that’s nothing, and you’ll be able to save back that money so quickly anyways, you won’t even notice. But reward yourself with something nice, it’s a good thing to do!

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Depends on the purpose of the watch. I make $200K+ on just base, and I wear a $500 watch, coz for me the purpose is merely knowing time.

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Join the watch bowl and we’ll convince you on not only to do it ASAP but help you pick one out :)

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Lol 5k bonus for a staff. I'm here for the rude awakening

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I’d wait a few more years. At least until you’re clearing 100k

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How expensive we talking about? Like 10k?

There’s people who make 60k that drive Teslas. There’s people who make millions that drive Camrys. Nothing stopping you from making that purchase

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I make about the same and have a few $500 watches.

I personally wouldn’t drop $10k on a watch without deep appreciation for the art (which I don’t). As A1 says, you can do what you want, but consider whether you will really get your money’s worth if you aren’t a watch geek.

OP I'm in a similar position to you and I bought another (cheap enthusiast) car bc yolo and I'm into cars. Smiles per mile is way more important to me than the additional savings (and I'm saving enough).

Bottom line: set a reasonable budget, buy a damn nice watch as long as you don't need to finance it lol

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Only buy Rolex, they literally go up and are a great store of value. Can easily dump to any jeweler for what you paid after wearing it for ~2-3 years. Hold longer and it will appreciate substantially. Just make sure you insure the thing.

likesmart

OP will have to wait to get one, they have pretty long wait lists because of supply shortages on almost every model😭. Unless it’s a DJ and even these depending on the city have a wait time of few weeks.

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Don’t do it. Tacky. That $5k can be used for something that brings you so much more happiness at this age.

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Get one for crossing 100k. You can get some nice watches below 1k. Also think about when/where can you wear the 5-10k watch.

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All these posts saying to go for a ~$10k watch are blowing my mind. That is a DUMB decision IMO. If you want a nice watch, go for a Tag or something in the $1500-2k range. Once you have F you money then think about a $10k rollex - no way should you do that now

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I’ve known expensive watches to appreciate a lot.

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