Watch4Steve
114
Sorry Guys!
I guess my sense of humor doesn't translate well into writing. I was totally kidding about the investment analysis. It was an attempt to poke fun at those who attempt, in vain, to forecast the value of something as subjective as a piece of art as if it were a bond. I was also attempting to illustrate how absurd it is to try to rationalize something that is fundamentally irrational.
Believe me, I did it out of love for the 5970. The only truly rational part of the decision was the financial call to not keep both. In time, I fear it's the only pRt of the decision I will regret!
Why I did it (part II)
So, why does a guy give up a watch that took his breath away (5070P) and trade it into an even more ridiculously expensive one (5970P)? My thought process went something like this: Emotional / Attraction The blue dial of the 5070P is singularly stunning. ...
Every thing makes sense except your last bit of logic!
At best a 1518 will sell at auction for $200k . Working with this figure makes a lot more sense and shows the poor investment potential of a watch But I love your choice. It is a classic PP Julian
Good News!
Actually, your perspective makes my numbers look better. If a reference 1518 is worth $200k today and sold for $1,500 in 1945, that is a compounded growth rate of 7.81%. A $140,000 watch in 2010 growing in value at the same rate will be worth over $10MM i...
Are you forgetting something ....
.... which is, patek has made in total numbers, far greater than the total numbers of patek 1518 + 2499 all put together. Not trying to shoot you down, your math calculation is fine, no doubt. Just assume all your numbers are correct ... personally, i thi...
Try Real Estate, it is more secure...
That is exactly why I have a problem with PP.... Just because of this kind of post. Where is the Passion, here, except for money, or for security? But this is your point of view, and I wish you and your heirs all the best, and plenty of money. Nicolas Thi...
TOTALLY WRONG AS AN INVESTMENT...
Far to many are availbale on the grey market and figures are just assumptions. With the 3970 as a similar watch additionally available on the secondhand market, it makes it all quite "ordinary" as an exceptional watch from the figures only point of view. ...
FORGOT...
Patek has and will produce in the future continiously perpetual chronos... Regards Moritz
Why you did it is not that important, the fact that you did
is all that counts. I think most folks here are masters of rationalization when it comes to buying another watch at this level because actually it doesn't make much sense to spend this type of money. Justification really requires no reasoning.....you have...
I would have kept both..
...but not if you treat watches as investment (only). But It's anyway more interesting to invest money in watches (your hobby) than in "dead" real estate or shares. On the other hand are shares or real estate maybe easier to sell. But anyway, really nice ...
Interesting thoughts...
However, I also do have some reservations regarding your last point.... It would be nice if watches turned out to be good investments, but it does not turn out to be this way... Best
Congratulations
The rational thoughts will probably fade with time (in reverse order you gave I suspect) but if the watch gives you a smile each time you put it on, you've picked the winner. The memory of having owned the 5070p will no doubt be a pleasant one. All the be...
Sorry Guys!
I guess my sense of humor doesn't translate well into writing. I was totally kidding about the investment analysis. It was an attempt to poke fun at those who attempt, in vain, to forecast the value of something as subjective as a piece of art as if it we...
I think in the long run you will end up buying back a 5070P...
if you trully apreciate the 5970P ! I think you bought a beautifull watch and at the same time lost an awesome one! Sorry my friend!