More money than sense?

[Dorsetmike]

On another forum a member was complaining about quotes for servicing his Rolex watch, one place quoted him £800 plus parts and 24 -30 weeks, another quoted £430, no extra for parts and 10 - 12 weeks. (the cheaper place also suggested that the first quoter would have just packed the watch off to Rolex and effectively charged 100% handling charge)

Now to my mind anyone who pays more than about £25 for a watch wants their head read, and a quote of more than about £10 -£15 for service or repair would result in a decision to bin it and buy new.

The original poster appears to be fairly affluent, mentioning having other expensive items like more watches (who needs more than 2, one in everyday use and one standby) shotguns (£10,000+) and has owned cars like a classic 1930s Bentley, and a Bristol, and of course his camera is a Leica.

The following site got quoted in the thread, some obscenely ridiculous prices to my way of thinking, especially when one considers how much better use could be made of the money.

http://www.bornrich.com/entry/expensive-watches-auctioned-watch-2011/

 

[teddy]

It is all down to individual preference and how much money you have. When I started shooting I have an inexpensive gun. When I was able to I changed to a gun which cost 10 times as much, that was when I really started to pick up trophies. My watch is an Omega Seamaster which I bought a few years ago. I wanted a good reliable watch which was also tough. I bought it late on a Saturday just before the shop closed, and bargained it down by 10% for cash. It is now worth almost 50% more than I paid for it, and should last me out. I have driven cheap cars and expensive cars and I know which are the nicest to drive. My solid wood classical guitar sounds much better than my first plywood one, and so it should. Buy quality when you can and make do when you can't. Having said that I can never envisage myself buying £5,000 a bottle champagne, however much money I had.

teddy

 

[Dorsetmike]

I agree that buying quality can be OK up to a point, what I don't see any point in is spending way more than is necessary just to have a certain name on a product.

If a watch keeps time and has a secure strap and keeps working for a number of years and costs less than say $50 why pay more just for a fashionable name?

Is something hand made necessarily better than something machine made??

My watch has never had a service, just replacement batteries, - which I can do myself - If a Rolex needs £400+ worth of servicing, that to me suggests that it is not that good.

Some dealers of expensive/fashionable cars want £1000 - £1500 for a service, whereas a normal family model will be more like £100 - £200, I would think the same oil works for both, even if one needs a pint or two more. Same applies to just about any mechanical or electrical appliance, go for a fashionable name and pay through the nose.

 

[teddy]

My friend brags that his Roles fake cost £8 in Thailand, and if it got stolen he would just buy another. I respect his attitude but I would rather have a sundial than a fake Rolex. Castrol 1 oil actually saves me money over cheap oil. My car uses less and there is a definite, if small reduction in fuel consumption, particularly on a long fast run. What it comes down to is, you pays your money and you takes your choice.

teddy

 

[marval]

I would not consider paying high prices like that for a watch, even if I had the money.

I never wear my watch unless I have an appointment and need the time.

 

[Mat]

You need to put yourself in the position of people who have more money and less brain than they need. If someone has a yearly income of, say, 1 million pounds and fifty more millions in different banks all over the world, what else is there left besides overpaying for a name on a product, buying gigantic mansions, yachts, etc.? Charity? Sure, if every multimillionaire gave 1% of their money for a good cause, the world would be a better place. Unfortunately, not many people are that noble.

So yes, I'd say it's usually the "too much" money factor.

P.S. I followed your link, Mike. Most of those watches are rather hideous, IMO. Number 10 is something I would wear. But I would never pay $785,000 for it!!

 

[Corno Dolce]

You need to put yourself in the position of people who have more money and less brain than they need. If someone has a yearly income of, say, 1 million pounds and fifty more millions in different banks all over the world, what else is there left besides overpaying for a name on a product, buying gigantic mansions, yachts, etc.? Charity? Sure, if every multimillionaire gave 1% of their money for a good cause, the world would be a better place. Unfortunately, not many people are that noble.

So yes, I'd say it's usually the "too much" money factor.

P.S. I followed your link, Mike. Most of those watches are rather hideous, IMO. Number 10 is something I would wear. But I would never pay $785,000 for it!!

Quote: "To rob a bank you need a gun, to rob the world you need a bank"........

And then I have come to know some fabulously wealthy people who find it very hard to give away money wisely. They understand that giving money to a Government is synonymous with Fraud, Waste, and Abuse.

 

[JHC]

I have earned every cent and will spend it as I wish

 

[Krummhorn]

I rarely wear a watch after I retired from the 40 hour work week. If I need to know the time, there is a digital clock in the car dashboard, or I look at my mobile phone.

I do, however, own a watch ... it was my Dad's ... an electric Mickey Mouse watch.

 

[teddy]

40 hour week. You lucky man. I regularly worked 70 or even 80 hours a week, especially when I was setting up my current business. Still ruled by my watch, and having a young daughter to run around will be for a little while longer. If my next project comes off I will only need to know the time on certain days, but even on holiday I do not want to arrive at the local shop to find that they are on their 3 hour midday lunch break. Might mean going without red wine for several hours. Even worse, my wife might be without red wine for several hours!!!!!!!!!!!

teddy

 

[JHC]

40 hour week. You lucky man. I regularly worked 70 or even 80 hours a week, especially when I was setting up my current business.
teddy

That's no good teddy harm can come to a young laddie doing that type of thing, I always took the statutory holidays but apart from that I had 7 weeks holiday in 30 years.

 

[teddy]

Me too Colin. I have had three two week holidays in my life. While my youngest was in private education we had two holidays in ten years. Working for myself I often worked bank holidays as well.

teddy

 

[stu]

I worked myself up from nothing to a state of extreme poverty....and I owe my lack of success to nobody!

 

[JHC]

I worked myself up from nothing to a state of extreme poverty....and I owe my lack of success to nobody!

A self made man eh.......

 

[Dorsetmike]

Me too Colin. I have had three two week holidays in my life. While my youngest was in private education we had two holidays in ten years. Working for myself I often worked bank holidays as well.

teddy

But umpteen 3 and 4 week ones, and innumerable shorter ones?

I liked the RAF, started off with 30 days a year, then increased to 42 days a year ( we did have to include Saturdays and Sundays)

One miserable employer in later years only gave 15 days which had to include the Christmas/New year shut down.

 

[teddy]

Yeah, I wish. You never work as hard as you do as when you work for yourself. No sneaking off early or nicking pencils. My wife used to really wind me up by saying " You are lucky, you can always work some more hours if you need some more money"
Bl***y when? 2.00 am,,,,,,,Christmas Day??????????

teddy

 

[Krummhorn]

For many years I was self employed as an Allen digital organ technician. Lots and lots of travel, but I built up a solid reputation and a good customer base all over southern California (when the freeways weren't 10 lane parking lots like they are today). I did new installations and service as well as giving instructional sessions to organists on a new installation site as well.

My time was never my own ... on call virtually 24/7, and in some cases making an emergency call for a dead organ late Saturday nights. Once traveled 3 hours one way to a church only to discover some nut had pulled the electrical cord from the outlet. After that entire wasted day (for which I did bill the church a substantial amount), I then started asking customers "is it plugged in?" before heading out on a road trip. Sure, the money was great for those simple solutions, but spending an entire day on the road just to plug an appliance into an electrical outlet was very tiring.

Eventually it got to be too much ... and I started losing money, especially when the price of petrol jumped (in the US) 60 cents a gallon in a couple months time (this was in the early 70's). To this day, I miss that line of work though - the constant interaction with all the churches, organists and some absolutely magnificent installations.

 

[teddy]

I too sometimes miss my life out of the office. We have several plants that were grown from cutting given to me by clients and I have incorporated at least one idea that I saw used in someone else's house. But I no longer miss the long hours, sometimes getting home at 11.00 pm at night, totally pooped, and then up early the next morning. Now I very rarely leave the office. It almost seems like a jolly when I do.

teddy