BMW Garage | BMW Meets | Register | Today's Posts | Search |
07-15-2014, 10:37 AM | #23 | |
Major General
1064
Rep 5,660
Posts |
Quote:
All the best.
__________________
Cheers,
Tony ------------------------------------------------------------------------------------------ '07, e92 335i, Sparkling Graphite, Coral Leather, Aluminum, 6-speed |
|
Appreciate
0
|
07-15-2014, 12:50 PM | #24 | ||
Major General
4529
Rep 8,942
Posts |
Quote:
__________________
2022 Macan S
2016 F31 328i xDrive Sport Wagon 2006 E46 330ci ZHP Convertible |
||
Appreciate
0
|
07-15-2014, 12:53 PM | #25 |
2006 330i, TSM, Black, manual, sport
891
Rep 3,698
Posts
Drives: '17 C2, GTI, Z4 3.0si Racecar
Join Date: Nov 2005
Location: Chester Springs, PA
|
Wow! This set off quite a few responses. I haven't been on the forum for a few days.
Bottom line is: IF you can afford $2 million for a watch, the "other items" listed won't really come into play. It's a completely different mind set. More than likely, the person that can afford this watch, already has all the other items. A buddy of mine was asking me about watches (he knows nothing) and the brands and models he was asking me about were all $135,00 - $225,000. He said a friend of his was looking for a daily wear watch. Turned out he did buy the one for $225,000, he's also a billionaire.
__________________
2017 Porsche C2 - manual of course
2015 GTI S 2008 BMW Z4 3.0si Coupe - because racecar |
Appreciate
0
|
07-15-2014, 01:10 PM | #26 | |
Major General
4529
Rep 8,942
Posts |
Quote:
__________________
2022 Macan S
2016 F31 328i xDrive Sport Wagon 2006 E46 330ci ZHP Convertible |
|
Appreciate
0
|
07-15-2014, 02:11 PM | #27 | |
Major General
1064
Rep 5,660
Posts |
Quote:
I think spending $2M on a watch is one thing and spending it on that particular watch cited in the OP is quite another. I liken the former to buying a DaVinci (depending on the watch) and the latter to buying excrement de la DaVinci's. All the best.
__________________
Cheers,
Tony ------------------------------------------------------------------------------------------ '07, e92 335i, Sparkling Graphite, Coral Leather, Aluminum, 6-speed |
|
Appreciate
0
|
07-15-2014, 04:30 PM | #28 | |
Enlisted Member
47
Rep 35
Posts |
Quote:
As a personal rule of thumb, one should never spend more than .5% of one's wealth (non-inclusive of primary residence) on a watch. The kinds of people who buy $5000 watches are usually worth around $1M (5000/.005) which pretty much follows what you'll see in practice. People who buy $100,000 watches are worth around $20M. People who buy $2,000,000 watches are billionaires. Most "middle class" watches can be had for < $1000 and are affordable, by this criterion, to people worth $200,000 (or less). The people who are suggesting that one buy a $150,000 PAM in lieu of this $2,000,000 RM are missing the point. These are different markets. |
|
Appreciate
0
|
07-15-2014, 04:34 PM | #29 | |
Enlisted Member
47
Rep 35
Posts |
Quote:
Slow and steady saving with frugal expenditures and typical top 1-5% jobs will get you into the $1M-$10M range over a lifetime (usually the lower end of that range). A lot of these people tend to be extremely frugal as you suggest, but no one in this wealth bracket can afford a $2,000,000 watch, not even those worth $10M. The people who can afford a $2,000,000 watch made a huge windfall very quickly. They need not have lived frugal lifestyles to accumulate their wealth. |
|
Appreciate
0
|
07-15-2014, 05:34 PM | #30 | ||
Major General
4529
Rep 8,942
Posts |
Quote:
__________________
2022 Macan S
2016 F31 328i xDrive Sport Wagon 2006 E46 330ci ZHP Convertible |
||
Appreciate
0
|
07-16-2014, 11:49 PM | #31 | |
Major General
1064
Rep 5,660
Posts |
Quote:
All the best.
__________________
Cheers,
Tony ------------------------------------------------------------------------------------------ '07, e92 335i, Sparkling Graphite, Coral Leather, Aluminum, 6-speed |
|
Appreciate
0
|
07-18-2014, 01:49 PM | #33 |
2006 330i, TSM, Black, manual, sport
891
Rep 3,698
Posts
Drives: '17 C2, GTI, Z4 3.0si Racecar
Join Date: Nov 2005
Location: Chester Springs, PA
|
VERY nice piece! I like it a lot.
__________________
2017 Porsche C2 - manual of course
2015 GTI S 2008 BMW Z4 3.0si Coupe - because racecar |
Appreciate
0
|
07-18-2014, 02:01 PM | #34 |
Major General
1910
Rep 5,521
Posts |
Well, you have a lot of different types of people with money. Being in San Francisco and with a lot of tech company billionaires around - they tend to be pretty low key. People like Mark Zuckerberg who wears hoodies and jeans every day and sits in a cubicle with the rest of his people and drives a VW GTI every day. So these people would probably never buy such displays of wealth even though they have the means to.
__________________
Auto Detailing Enthusiast!
|
Appreciate
0
|
07-18-2014, 02:56 PM | #36 |
Lieutenant
32
Rep 565
Posts
Drives: 2007 328i
Join Date: Dec 2012
Location: mississauga
|
I like my swatch
__________________
Stay clean my friends |
Appreciate
0
|
07-18-2014, 05:31 PM | #37 | |
Colonel
176
Rep 2,629
Posts |
Quote:
|
|
Appreciate
0
|
07-18-2014, 08:39 PM | #39 | |
Captain
321
Rep 905
Posts |
Quote:
|
|
Appreciate
0
|
07-19-2014, 07:40 AM | #40 | |
Major General
1064
Rep 5,660
Posts |
Quote:
As for M.Z. the guy isn't from what anyone would call humble beginnings. Money and the indulgences it can buy aren't new to him at all. His father is a dentist and Mark went to Exeter. M.Z. comes from the land of "old money" and folks who appear as though they are (were) from "old money." I do agree, however, that there are many understated wealthy folks in San Francisco and the surrounding area. The thing is that American culture today isn't as dressy, structured and formal as it was even some 40 years ago. As a result, most rich folks -- when they aren't engaged in some "rich folks only" extravagant activity -- are going to appear to be low key. All the best.
__________________
Cheers,
Tony ------------------------------------------------------------------------------------------ '07, e92 335i, Sparkling Graphite, Coral Leather, Aluminum, 6-speed Last edited by tony20009; 07-22-2014 at 04:22 AM.. Reason: spelling: aren't should have been "are" in the first sentence |
|
Appreciate
0
|
07-21-2014, 12:11 PM | #41 | |
Major General
1910
Rep 5,521
Posts |
Quote:
But that is just an example. A lot of tech money people are not into materialistic things. It's really a part of the engineering background of the people. Anyone who does coding and programming knows what it's like and the attitude among computer engineers towards money. It's very low key and any display of wealth is looked down upon. I guess contrast that with people like Larry Ellison who cruises into his office at Oracle on a yacht and spends a fortune on his toys...
__________________
Auto Detailing Enthusiast!
|
|
Appreciate
0
|
09-12-2014, 04:32 PM | #42 | |
Colonel
176
Rep 2,629
Posts |
Quote:
|
|
Appreciate
0
|
Post Reply |
Bookmarks |
|
|