% of annual income spending on watches

[Oceanklassik]

Ups!

[Pam351]

Actually I think there is no way to validate this kind of question. Let's say u r earning $5k, u buy a rolex cost $10k......So is the answer supposed to be 2 months worth of income?

if u say 10% of income for watches. Does that mean u every year spend $7,500 on watches? ($5k * (12mth+aws+2mth bonus)) or u spend $500 per mth on watches?

Difficult to quantify leh. probably the question how much u spend on watches per yr will make more sense? but then wat if this year buy more and following year buy none, difficult also

It's like for example yr annual income is 100K.....will u buy a $20k watch that u like or maybe it's max 8k or 10k?

[one2ten]

I don't buy watch so often, but I guess spending on watches within my monthly income is still justifiable (to my wife ;P

[Jubilee]

It's like for example yr annual income is 100K.....will u buy a $20k watch that u like or maybe it's max 8k or 10k?

It is worthy to note that purchasing a watch is not necessarily an expense (like a car). You should look at it as if purchasing an asset since you have the option of selling it and getting a substantial amount of your initial outlay back.

Give you a scenario - you buy a 2nd hand watch at 10k and five years later, you sell it for 9k. What is your net expense on your ownership of the watch for five years? $200/year or less than $1 a day. Is that affordable? I would think so...

[Pam351]

This has been brought up in the forum before. I will search for the thread and merge both..

Sorry didn't know it was brought up before
in any case, Thanks

[dtctan]

My target is 1 Rolex per year about 10-15k

[coffee3in1]

It is worthy to note that purchasing a watch is not necessarily an expense (like a car). You should look at it as if purchasing an asset since you have the option of selling it and getting a substantial amount of your initial outlay back.

Give you a scenario - you buy a 2nd hand watch at 10k and five years later, you sell it for 9k. What is your net expense on your ownership of the watch for five years? $200/year or less than $1 a day. Is that affordable? I would think so...

i like your calculation on amortization.

[tyongchi]

My target is 1 Rolex per year about 10-15k

You didn't tell us how much you make per year. lol.

[Watcha]

Yup all about personal preference.

No lack of bmw drivers wearing a modest watch.

Just look at the down payment now.
Easily 40k cash required. PP range.

[eastsider]

Yea $5k really is considered poor in sg.

I am earning in the range of 300-400k annually also $ no enuf. Only 1 rolex n no porsche but $ also all spent ka liao. Really dun understand y.

Everyone around me earning 20k per mth can afford to have so many things. Weird

[eastsider]

Come to think of it, yea i guess correct also lah. All $ spent on paying mthly installment for properties all around the world, sg, malaysia, tokyo, paris and even hawaii.

I guess i am rich in property but lacking rolex, cigars and cars bah

[kadios]

And the worse this $40k will expire with the paper attached to it. Watch Is everlasting, still can get back or even make some profit. No need to bid, just have to put on waiting list at ADs. No need scare if the insurance renew or increase or not next yr. lastly, only idiot to crash it is probably ourselves ba... Hehe

Yup all about personal preference.

No lack of bmw drivers wearing a modest watch.

Just look at the down payment now.
Easily 40k cash required. PP range.

[dtctan]

You didn't tell us how much you make per year. lol.

Not much but good enought to achieve my goal

[dtctan]

No where near outstanding achievement but I learn to be contented with what I have now

[Watcha]

Confirmed. I m low income group.

Takes a lot of sweat and swearing to save enough for one piece.