The Watch Appreciation Thread - Part two (Rolex, Patek Philippe, Audemars Piguet, Jaeger LeCoultre,

[mak1277]

I’m guessing many folks here restrain from buying watches they can afford, but pass on due to factors of douche-to-reward metrics? Maybe not? Is that a thing? It is for me…

Have you passed on a watch (you can afford) due to what you think it communicates to your constellation of acquaintances?

For a fairly long time I didn’t buy a Rolex because of this. Then I realized how utterly stupid I was being and went ahead and got what I wanted.

 

[TheFoo]

Public records don’t put it quite like that. Maybe pause before next projection?

Dude, please. You have been obsessed with uncovering some nefarious truth about me since the moment you showed up here, as if you simply can’t wrap your mind around my existence. The subtext is clear.

 

[Dino944]

I’m guessing many folks here restrain from buying watches they can afford, but pass on due to factors of douche-to-reward metrics? Maybe not? Is that a thing? It is for me…

Have you passed on a watch (you can afford) due to what you think it communicates to your constellation of acquaintances?

No, I just buy what I like and I don't care what it communicates to my friends, family or acquaintances.

The one caveat is with jury trials. I wouldn't wear a gold watch to them. A guy I know at another firm who owns what I consider a non flashy watch, a Seamaster, wears a digital Casio to jury trials. I've worn my steel Santos, RO, and a black dial 16570 to trial without a second thought.

 

[9thsymph]

Dude, please. You have been obsessed with uncovering some nefarious truth about me since the moment you showed up here, as you simply can’t wrap your mind around my existence. The subtext is clear.

Foo: “my wealth, my wealth, my wealth, my wealth…”

9th: *cursory search of foo’s wealth*

Foo: “the subtext is clear”

 

[LVEsq]

No, I just buy what I like and I don't care which it communicate to my friends, family or acquaintances.

The one caveat is with jury trials. I wouldn't wear a gold watch to them. A guy I know at another firm who owns what I consider a non flashy watch, a Seamaster, wears a digital Casio to jury trials. I've worn my steel Santos, RO, and a black dial 16570.

I had an expert neurosurgeon getting ready to testify at trial, and i made him take his gold PP off and hand it to my paralegal. At first he objected, but he ultimately understood.

 

[Ambulance Chaser]

A jury can see your watch? Are you all unbuttoning the cuff buttons of your bespoke suit and dress shirt?

 

[LVEsq]

Speaking of D-bags…anyone else see the article on Roman Sharf spending 9k on new Trump sneakers? Weird…

Why is this weird?

Roman is a USSR refugee, a pretty outspoken conservative and has the means to purchase them. I wouldn't buy them because they are ugly as sin, but why is it weird that someone buys them? They were sold out in 24 hours from what I understand. As a general rule, former Soviet refugees/immigrants are fairly conservative - like Cubans. They escaped the great socialist experiment and remember it well.

 

[LVEsq]

A jury can see your watch? Are you all unbuttoning the cuff buttons of your bespoke suit and dress shirt?

I had a jury give me a defense verdict, when I was on the defense, on a clear liability case, where they concentrated on the Plaintiff and saw that she had her toes painted different colors a few times throughout the trial - concluding that she was either not hurt and can do the pedicure herself, bending at the waist, or that she did not need the money because she could afford a new pedicure every few days. Juries concentrate and pay attention to weird things man...

 

[9thsymph]

Why is this weird?

Roman is a USSR refugee, a pretty outspoken conservative and has the means to purchase them. I wouldn't buy them because they are ugly as sin, but why is it weird that someone buys them? They were sold out in 24 hours from what I understand. As a general rule, former Soviet refugees/immigrants are fairly conservative - like Cubans. They escaped the great socialist experiment and remember it well.

It was weird to see a watch dude out of context, in a hyper- partisan political role. That’s all. But 9k? On sneakers? Is that NOT weird? So I also reckon it’s a strange flex on Biden economics to gleefully spend 9k on 5$ sneakers? Oh, right…inflation!

 

[LVEsq]

It was weird to see a watch dude out of context, in a hyper- partisan political role. That’s all. But I also reckon it’s a strange flex on Biden economics to gleefully spend 9k on 5$ sneakers? Oh, right…inflation!

Dude all sneakers are $5.00 - from Tom Ford to Nike, to Converse. Its just marketing and branding. How much do you think it costs to make a stainless steel Sub? $900.00 at most?

 

[9thsymph]

Dude all sneakers are $5.00 - from Tom Ford to Nike, to Converse. It’s just marketing and branding. How much do you think it costs to make a stainless steel Sub? $900.00 at most?

All this math checks …please proceed…

(Cost to make:
Converse = 5$
Tom Ford = 5$
Trump = 5$

Purchase price:
Converse = 50$
Tom Ford = 3k
Trump = 9k)

Yep. Nothing weird!

 

[double00]

All this math checks …please proceed…

Cost to make:
Converse = 5$
Tom Ford = 5$
Trump = 5$

Purchase price:
Converse = 50$
Tom Ford = 3k
Trump = 9k

Yep. Nothing weird!

i'm guessing it's a bit like paying 32k for mediocre dinner plus oprah keynote at a superbundler's mansion but you get a photo op and handshake with the candidate

 

[TheFoo]

How much do you think it costs to make a stainless steel Sub? $900.00 at most?

Complicated question and impossible to be precise, but $900 is likely light.

In recent years, Rolex has said that they have a ~30% operating margin. Separately, ADs have been reported to have a ~40% margin on Rolexes. That leaves ~30% of retail price for Rolex’s expenses. They have said they spend ~$50-60M on sales & marketing—or ~5% of revenue.

In all, that implies that the non-marketing cost to make a Rolex is ~25% of retail price. Even if we haircut to ~15-20% to be conservative, that would suggest a Submariner costs Rolex about $1,500-2,000, excluding marketing. Sounds about right to me, considering the combined material and labor needed. As tours of the Rolex factory have revealed, there is still a lot of skilled manpower and manual work needed to make their watches.

 

[9thsymph]

i'm guessing it's a bit like paying 32k for mediocre dinner plus oprah keynote at a superbundler's mansion but you get a photo op and handshake with the candidate

Yes, exactly. Just weird to see it from a watch dude (for me!)

 

[TheFoo]

I had a jury give me a defense verdict, when I was on the defense, on a clear liability case, where they concentrated on the Plaintiff and saw that she had her toes painted different colors a few times throughout the trial - concluding that she was either not hurt and can do the pedicure herself, bending at the waist, or that she did not need the money because she could afford a new pedicure every few days. Juries concentrate and pay attention to weird things man...

The prospect of ever being judged by my peers is a terrifying thought.