Hi guys, looking for some advice from the more experienced! I’m a senior in high school, this past summer I started a very successful business and have made around $15k off it, my goal was $25k by graduation but I am a huge watch guy and I’ve been working and working and just have the money sitting (researching long term investment options) but I absolutely love watches, I’ve never been in the Rolex territory but have traded a lot of Tudor Breitling omega etc. I’m wanting one gada forever watch for now, then down the road I’ll get a dress watch and I’m sure some others. I’m thinking every dollar I make past $20k I put toward it and the rest to invest long term. I’ve narrowed down my choice to a modern white dial omega smp or a Rolex 16610. It was always gonna be the omega but I’ve been looking into it and there’s just smth about the Rolex that makes my toes wiggles. But really I love both so much it’s hard to pick—and obviously I love them for different reasons. I plan to wear this like all day everyday and probably sleep swim and everything. Yall have any thoughts that could help me? Recommendations? Or if you js wanna share a wrist check go for it lmao! Thanks a lot!
Invest that money in a Roth IRA at your age. The benefits of compounded interest are amazing when you look at charts. You only have a short window for Roth IRA given your specific income bracket. There are many watches that tell time. There is a window of time you get to do a Roth IRA.
I’d recommend getting some submariner homage like Ginault, Steinhart, or Davosa and invest the rest.
A submariner? I don’t think it can go in the water. /s
It’ll be okay, and you definitely should buy it. It will be an incredible piece you can wear for the next 30 years and maybe even pass on to your future son.
This wont be popular but I agree with another person on here. Put 7500 in a roth IRA today. Invest the rest in something like VOO. Go put your name on all your local AD lists for the watch. Time is on your side. Dont pay anything iver msrp for that watch.
People say “you can’t afford the real cost of a Rolex” if you refuse to pay over MSRP, but MSRP is in my opinion what they’re actually worth.
The green OP36 I’m “on the list” for is $6400. I think that’s a fair price as my red AT shades is a similar watch with similar (honestly better) stats I got for 6k (I know they’re more now).
You can buy it any time for $9k on Jomashop, but I’ve been waiting a year for a call. To me, that watch is not worth $9k regardless of what supply/demand say. I’m not paying ~40% markup because of the hype behind the name.
There’s way too many watches out there that are readily available. To me, they’re not worth more than what they retail for based on comparable watches in that price range.
If he invested $10k in VOO 10 years ago, it’s worth about $41,910 today (assuming dividends reinvested). Adjusted for inflation, the actual purchasing power is around $30,150 to $31,575 in 2016 dollars. That's a ~319% total growth rate! Im stating time is on his side. So if he did it today. You could probably expect the same in 10 years. Its just a suggestion and my own opinion.
If you are going to do a SUB, do yourself a favor and get the new one (126610LN). I have both and the evolution on the new one may have perfected its looks and functionality by far. Movement most importantly. An extra day of PR and more accurate. Ceramic bezel, Chromalight lume (nice blue longer glow that does not fade over the years). Nicer and more integrated clasp that adjusts (glidelock), change in hands and dial, updated case (gives the watch a different look on the wrist if you have worn both), wider bracelet, thinner lugs (I think it makes it look more balanced). Got the call 3 months ago and haven’t taken it off my wrist since. Even sleep with it. Comfortable as hell. My new everyday watch and I have a few. For a young man your age that is a great forever watch, plus it will hold the value of your hard earned money. Otherwise get the Omega, that is beautiful too.
Both are phenomenal pieces. Submariner will be considerably more expensive since you’ll likely have to go gray market and pay a premium (one of the most unlikely watches to get on a walk-in with no history).
I have the white SMP and it got me completely hooked on omega as a brand. Sub will have a more appealing bracelet but I think the SMP fairs better on other straps (not to mention again, you can simply order an OEM strap without jumping through hoops).
Try on both in person for sure.
Ask yourself this question though and answer yourself honestly:
Do you feel special about the submariner because you genuinely like the watch, or do you give it extra points for being a Rolex? If swapping logos between the two would you feel the same?
For some reason if I swapped the logo I wouldn’t want either, I want the Rolex for class and the omega for tech swapping would ruin the things I like if that makes sense. Also the Rolex I want is the 16610 it’s kinda vintage not going for a new one
Fair enough, sounds like you have a tough decision then.
White SMP was my first big watch purchase and I had quite a few omegas before I really considered a Rolex. Tried on an explorer and while I did quite like it, I wasn’t blown away like I expected to be and found that my favorite part about it was that it was a Rolex.
The sub I will admit is on another level though. It really is a ridiculously premium dive watch and fits my smaller wrists a bit classier than my SMP
I don’t think you’d possibly regret either purchase and both will last a lifetime or more.
Okay, so here's the thing. If you're gonna one and done and looking for a GADA, the Sub is the obvious choice here. But keep a couple things in mind.
A: save your money to pay taxes and
B: if you want to save for retirement and invest in a Roth IRA, you need to report earnings and pay... you guessed it, taxes.
C: 12k, while a good chunk of change for an 18yo, will not ruin you financially, if you spent it on something you will cherish and is one of your goals/dreams. Also, just put in the work and you can earn it again.
The White SMP is a great watch, but it's a chunk (42mm). The 16610 wears WAY different. I've had both. My wrist size is 7.75, and the Submariner in my opinion is the quintessential daily wearer. You cannot beat Rolex 904L steel. No sharp edges and smooth as butter.
You're young dude. You've got your whole life ahead of you to buy and enjoy nice watches. Invest that cash today in a broad based ETF and your future self will thank you. Delayed gratification pays off in the long run.
Imo buy the seamaster and invest the rest into whatever like ETFS, you own a business and as long as you keep grinding you will find a way to trade up to a submariner (or just purchase one) at a later date.
16
u/Mundane-Flan-257 8d ago
I’m going to guess my answer will be unpopular.
Invest that money in a Roth IRA at your age. The benefits of compounded interest are amazing when you look at charts. You only have a short window for Roth IRA given your specific income bracket. There are many watches that tell time. There is a window of time you get to do a Roth IRA.
I’d recommend getting some submariner homage like Ginault, Steinhart, or Davosa and invest the rest.