One alternative perspective: eating out and visiting the cinema with your loved one isn’t “wasting money”, it’s actually more valuable than any Rolex.

If you have to give up a lot of things you enjoy to afford a Rolex, then can you really afford it? I know there are those people that just absolutely feel the need to project an image of success and wealth, but in all honesty... nobody else really cares if you have a Rolex. Don't get me wrong... they're beautiful watches, and a Rhodium Yachtmaster is my dream watch. But they are "luxury" watches for a reason. They're not necessary. It's a fashion accessory, a status symbol, and yes - some impressive engineering and build quality... but that certainly shouldn't trump the little things that bring you joy each day or week. At the end of the day, it's just a watch. You can admire the shit out of it every time you look at it, but you should do that with your day, your memories, your loved one. Work hard. When you get to a point of comfort financially where you could theoretically "impulse buy" a $9,000 dollar item and not be too concerned about it... that's when you can really afford it. Just my opinion. Everyone is different.

Living your life,and enjoying it with your loved one doesn`t classify as "wasting money" in my opinion.

Maximum budget for a watch are the savings of 3 months. My rule I set for myself to avoid excessive spendings for watches. And if the watch is to expensive, either I‘ve to work on the salary or on my spending behavior (as described)

I just stumbled across this video and wanted to say this is some of the most astute watch buying advice I've ever watched. I agree with absolutely everything you said. Well done!

The best advice I ever received for saving money was to write down every purchase. No matter how small or large and after some period of time (depends on the person) you will see patterns that can be changed so you can save money..

When I was in college decades ago, I saved up for a watch I genuinely wanted by purchasing it but putting it on layaway. This way, you can pay a little at a time, as much as you can spare. Doing so not only freezes the price, but allows you to strive for a worthy goal that you truly look forward to achieving. When a person has a goal they have motivation and expectation. You may find that the anticipation is actually more enjoyable than owning. It's like taking a special vacation, looking forward to it is more than half the fun.

You shouldnt spend that kind of money on a Rolex if you dont own a home yet. or well funded retirement plan. save for the higher priorities and get the Rolex later in life. be smart. invest that money. later in life that will buy you a Rolex and still have thousands in interest in your retirement.

@3:00 I'm married and this is really the first thing to be done before anything else. When you can get pass that 1st step, everything else will be easier or sort of easy - since you got the support or at least your significant other does not go against it. I've been telling my wife that one day I'll get an Explorer 1 or a Sub, she said that's okay as long as I sell every other watches I have inside the watch box, so yeah... 😂

I had this rule where I only let me buy a watch, if I earned its price in one month. Someday last year, I recognized I earned enough in September to buy a Rolex Explorer 2. I´m still liking it a lot.

thank you for this video sir. really clear a lot of things. my grail watch is tudor pelagos. it seem i'm in the right direction to save and trim the fat. so thank you again sir. cheers.

I would really like to trade in my brain and get one like yours.

Buy from a Rolex AD in a state that has no sales tax, eg Delaware, Montana, Oregon, New Hampshire!

I agree about buying from a dealer as opposed to used these days. I bought my DateJust II from a dealer and very happy with it. Used prices were not that much of a difference. Sometimes you're buying piece of mind. And I like having the warranty card in my name. I did actually buy from DavidSW a few weeks ago only because the Sea Dweller 116600 was discontinued and I couldn't find any other AD that sold one. It did come with a warranty card stamped 2016, so plenty of warranty left.

Throw it on a low interest CC then make a game out of scraping together the money to pay it off ASAP. Worked for me.

Very helpful, and I really appreciate your advice.

These are some great tips. The only thing I can't budge on is the weekly dining out. My GF needs to see that she's my priority over saving for the watch and that's the way I show it to her. I resorted to selling old cameras, watches and freelancing to save up. Now I just need to decide on the model.... That's the fun part :)

Not drinking saves you sooooo much money. And it's one of the best changes you can make for a positive direction in life, and possibly your health.

One watch collections of really nice do anything piece gives much greater satisfaction than a bunch of cheaper watches by many fold. I wore a Sub 16610 for about ten years before I bought my next nice piece just because it kept me happy. I bought the Omega GSOTM and a Rolex Cellini the same day but got extremely good deals on them-$9,250 for both BNIB. After a couple years I found myself only wearing the GSOTM and decided to trade up to a Patek 5167. It was the best move I ever did. Traded all three of my nice watches plus cash for the BNIB 5167 and still managed to come out on top as far as money spent since the Sub 16610 had gained even though I literally wore it every day for ten years. So now two years later I’m wearing a Patek 5711/1R as an only watch besides an Apple watch 2 until I can purchase a beater Omega GSOTM/DSOTM, Rolex no date, or some other do everything piece that’s waterproof and won’t have to worry about it. Then the process will start all over again. I’ll either build up the smaller pieces or purchase a few smaller pieces ($5k-$10k) to put with my 5711/1R to trade up for a Grande comp by Patek, A Lange & Sohne, or FP Journe. Once one wears a truly high horology piece it’s like your eyes are opened for the first time. VC makes some great pieces for the money too but they aren’t for a flipper that’s trying to move up like myself. I just don’t make enough money to lose on very many purchases. I need to break even or lose very little which can be looked at as the cost of wearing it for the time period I owned it. Hope that helped lol.

Hi. Thanks for that great insight into buying habits. One question that has been lingering in my head is.. Is the Squale 1521 worth the money? I currently do not have a diver in my collection and intend to add one in and the Squale has really caught my eye but I'm really sceptical.

Great video. People don't realize how much money they spend on a daily basis, me included. I bought a Submariner form an AD and it was seriously with a couple of hundred dollars from the BEST used price I could find, plus I got the warranty and mine came out of the vault and I was the first person to handle it since the manufacturer. Might not be a big deal for some , but I thought that was pretty cool since this was the first "luxury " timepiece I have ever bought. Great video and great advice. I will be using it to get my GMT.

Great advice on monthly savings. Rolex is about the only high end luxury watch I would buy new from an AD. Keep bargaining, have cash or use cc with high points and pay it in full, travel to other AD's in you larger zone. Don't be intimidated or servile at Rolex AD's or let them know it's your first Rolex, be polite and business like. Some have bought at out of State AD's with no sales tax (Nev). As to grey market, I like Jomashop, would buy an Omega Speedy from them (big discount, no Tax if not in NY), but Rolex not much of a break. Rolex grail piece not practical for daily wear, could scratch it first year. An acquaintance in PA claims he recently purchased a mint pre-owned grail newer model Rolex, at a decent savings, from Jewelers on Time (Newport Beach, CA.) Handled it via phone and internet. I have been in their store and they impressed me as Rolex Gurus. Yelp them. I'm only a hobbyist and collector and these are just my personal thoughts. Good Luck

Definitely agree with buying a high end watch from the AD, especially if you have a good relationship with your AD.

Really great advice: sound and simple. Now I know how to get that Oyster Perpetual no-date 36. Think I can get that new for under 5 grand?

I have to agree with Guy. Buy the BLNR from an AD, as the risk is not worth the savings (if any) on this particular watch. That’s what I did. I had wait about 6 months for the watch and during that time I saved up for it. Good luck.

Very good, informative video - great job

Great advice ! Well done.

one idea rather than save more is to make more money....everyone is so focused on saving rather than earning. Its easier to earn your way to wealth than save your way. In any case i do really like your message and what your offering on your channel..keep it up buddy!

I think the first question should be - have you considered alternatives? Omega, Brietling, Zenith, IWC, JLC etc etc. There are alternatives that are cheaper and can create a well-rounded collection. For me, starting young, I plan to buy cheaper watches (cheaper being a relative term here) and will probably end on a Rolex or two later on in life. But if a Rolex is your main aim then sure, go for it.

If you have to give up your coffee in the morning, your movie nights, your dinners with your wife...can you really afford a Rolex?? If I would have to give up all those things just for a watch, I wouldn't even want one! But I guess it's all a matter of how much you really want that Rolex. I do like to spend some time actually doing something else than sitting on my couch, looking at my watch collection, so I guess I'll just have to stick with my Omega(s) instead of a Rolex...

its really hard to afford a Rolex for a collector spirited guy. but if its going to be your only watch its a very good and logical decision. you get an item that posibly have way more lifespan than you and your child and your grandchild :)

Which is better investment? The datejust with diamonds or without. Two tone 41.

Amazing topic! It gave me motivation to keep saving for my Sub. Definitely going to trim the fat!

Looking for a career advancement is the way to go in my opinion. Keeping an eye on your expenses is very important as well, no doubt, because they tend to grow proportionally to your income :)

Also, always buy used and never pay tax! He’s right, the Batman GMT is a rock solid investment an is holding its value.

People spend their money on what they value. Some value cars, some value restaurant meals, some value attending ballgames, some value watches. Great video.

1. Thanks for the video. I agree with your comment about the AD but really only for Rolex. Never buy used online from an Untrusted source the risk of fakes is way higher than people think. Personally I’ve found if you can create a relationships with a grey market dealer who owns an actual store, they give better deals and they have to stand behind them, but for Rolex steel sports watch no deals to be had right now. 2. A lot of comments hating on cutting back to buy something important...? You all might not care about wearing a Rolex but this guy really wants one! And if treated right he will be able to enjoy it for life. So yeah, cutting back isn’t fun but it’s a great way to save for something important. And the bottom line is that for most of us, we aren’t going to get our holy grail watch, AND eat out all the time AND buy a bunch of other watches AND drink $5 coffee everyday, etc etc. So do you want to be the guy with 20 seikos? Or do you want to save for your dream watch? 3. Last thing, I’ve collected for a long time, on the first big one like this Rolex gmt, don’t buy used. It will mean more if it’s YOUR watch. Especially if it’s the center of a collection.

Stop living and buy a watch???

great recommendations

Got the money. But there is that 3-5years waiting list in my country :/

Great advice!

I will not sit here and criticize those wanting a rolex vs those that can actually afford one. If you have to save up for one, then you cant afford it. But That's a topic for another day. I will however criticize this video for its fantastic financial advice. Nicely done. Whether you agree with him or not, it's a good breakdown on how to save money.

Excellent advice

I’ve been to 10 ADs in 2 countries in the past two months and none had an SS submariner or BLNR gmt master in stock

Actually the study was huge, long term & based on real world data & out comes. The definitions are conservative & are give in the books. As well, these outcomes have been rechecked over & over. Not the usually campus study, which is grad students filling out questionaires.

If you have to ask, can I afford a Rolex? You can’t.... #1 Stop wasting money on crap watches! #2 GET OUT OF DEBT! Great advise. I love my BLNR.

Good video produced, thumbs up 👍

My personal opinion... if you have difficulties saving money for a Rolex watch?? than you have a bigger issue and you should not think about spending money on a watch..... 99,9% of the people don't care you have a Rolex or not.

Bought my GMT Master II "the batman" for $8250 on eBay. Just take it to a Rolex AD and pay $50 to have them Authenticate it. I saved about $1100 from a brand new one.

Used Batman is almost same as new. DavidSW is awesome. I’ve bout over $75k in watches through him BNIB with warranty name on papers.

@JustBlueFish Watch Reviews - Definitely agree buy from an AD. Don't know about other Rolex's but with the Sub all the used ones are usually at or even above retail! so absolutely buy from an AD that's what I plan on doing when I have enough saved up, good video.

Cutting out booze? That’s just crazy talk!

Sounds like me, I'm also in IT and want to get a BLNR. I'm already putting away for retirement, don't have any car payments, and cut the fat out of my budget. Hopefully in the new couple years I will have one.

Excellent advise for anyone and very well put, gently but on focus. Please allow me to be brutally blunt and add a couple more points. Get rid of all those shitter watches they only distract you from your goal since you already know what you really want. Buy from AD, for such a high cost item and knowing there are a few bad new Rolex apples out there they just don't make watches like before, why do you think they offer such a long warranty now? that cost is hidden in the price and where do you think those bad apples end up? grey market of course... they never loose. And lastly, as you get rid of all those cheap watches consider a nice replica, they make them so damm close to the real thing now that with emotions aside wearing a replica will give you the real determination you need to stick to your goal and get the real deal sooner rather than later. Hope I did not offend anyone.

That’s one way to save for it. I’m going to do it differently which will take longer. Send extra $ to current debts. Once debt free (except house) then it will be really easy to save for the grail. Until then I’ll enjoy my lesser expensive watches. More in line with a Dave Ramsey Debt snowball. Using money towards debt rather then a watch.

Just got a Steinhart Ocean One and I am good with that one, I'll probably end up buying a Rolex sometime in the future anyways but I got to say that this is pretty much the same watch as the Submariner.

Wow! In my country malaysia a price of rolex in malaysia is awfully expensive around myr 40k the cheapest that is the batman rolex.

the woman will never be on board with spending 10k on a watch.

unfortunately, the reason to buy used or gray is no ADs have SS inventory and when one arrives they sell them to their top clients. i wish rolex.com sold direct to customer, or put you on a wait list / back order until one becomes available. the luxury watch market is so behind times.

Spending money to share experiences with your loved ones is much more valuable (to me) than a watch.

Guy-good suggestions-it's all about choices.

Spending a lot of time in the financial industry... I would have thought that I would be against spending that kind of money on a watch... honestly though, I would rather see people spending their money on something that doesn’t depreciate like a car, or things like food and alcohol. Sound advice.

Good advice for more than just buying a Rolex but for life in general. Buy a great used 2-3 year old car and drive it for 6-7 years. This saved me thousands and I was able to buy my Rolex. Sell your watches that you know for a fact you are not going to wear very often. Live below your standard of living. Warren Buffet still lives in the house he bought 35-40 years ago. It is not a mansion. Small house in nice neighborhood. Plan for your future with a Rolex on your wrist!

Most good grey market dealers will refund your money immediate if there was an issue (DavidSW would...)

My retirement package is a fast car, bottle of whiskey and a big wall :)

DavidSW is the best. But the way all the steel sports models are now, it's insane. Buy an LV at an AD for 9k, or find one on the gray slightly used for 10k+. BLNR, LVc, basically anything that's not a DJ, you're going to pay more until who knows. Especially this time of year with talk of discontinuing models and Rolex withholding stock. But sound advice. Cut out the fat, but don't sacrifice happiness. Slow and steady to get what you want. Anything contrary and you'll look down at your wrist with disdain. Patience, my friends.

You’re sitting in your apartment, with your significant other. You can’t afford to go out to eat, or see that new movie. Your phone is 7 years old and Netflix is slow and laggy. So now you’re both huddled over your GMT-Master II in silence. That was worth it 😂 If you’re able to save $10,000 a year and really have to have a nice watch with brand recognition, take $3000 and spend it on a Seamaster 300m. Then take $7000 and invest it into something that’s going to turn it into $70,000. Don’t go broke trying to stunt on people. Respect the dude who daily wears a Vostok but retires at 45. I’d rather do that than buy a Rolex at 25 and retire when I’m 75.

Took me two years to save up for my white gold gmt Pepsi such a grail

Do authorized dealers sell online?

The greatest things in life are worth the sacrifice. Nothing great comes easy. If you have want this watch that bad, go get it!

Im getting mine tomorrow

Good luck getting a discount off a steel sports Rolex from an AD in the current climate!

Or you can enjoy life and just not worry about a Rolex!!

For investment purposes, it may be a good idea depending upon ones situation to invest in a Rolex as they may give better short term returns than say an inherited retirement account. Also, its never a good idea to place all of ones eggs in one basket so to speak.

I won't say you are an idiot for your AD advice to a point. The models most of us watch nerds want ie the newest rendition steel Professional Models are almost a no-brainer buy at an AD especially if you can get a little off and maybe skip the sales tax. PM, Two Tone and non-professional models like Datejust and Day-Date a totally different story in regards to Gray Market and Pre-Owned. David SW actually helped me make my decision to get on the waitlist at my AD for a Daytona C which I got in three months when he totally blew me off when I tried to get him down off of 12K for 116520 Daytona and could get a new one for $12,400.

I have set my mind on a Submariner steel version, and I know what A.D. I am going to buy it at. But I am not sure if I want to go date og no date. However there is time enough to make that decision since I am nowhere near the money yet. I have create a seperate bank account for the purpose and I am going to put money into it every month.

2:51 ... "Ughhh - I'm married ... :/"

Citizen is an underated watch brand

I have an amazing Seiko watch collection, and I would never dream of trading them in for a Rolex. I just never wanted to spring for 10,000 dollars for a new Rolex. Frankly, I am not rich enough to spend that kind of money on a watch in one purchase..

Watches are like guitars and motorcycles, you cannot buy them all, but people want to !! Once you get any Rolex, all your cheaper watches are going to seem like trash. Once you get one, sell off your other watches. Only buy steel Rolex sports watches. They hold their value, and the others do not as much. Only the Daytona will hold its value, others not as much. Try to buy a used Daytona somehow.

Nobody really ''needs'' a piece of jewelery like that.

Basically live as a shut in for a few years and you'll be fine :)

I mean, if it's your sole goal, and you cut back spending on other things, put up a poster of it in your room and it is without a doubt absolutely what your heart wants, then yeah, go for it. If not, well, you should always just do what your heart wants

Stop taking you wife or girlfriend out once a week and give up everything you enjoy in life just to buy a watch. That means you cannot afford it. I do agree with the quit cigarettes though.

Cigarettes, $10 a pack in New York

You shouldn't be buying a Rolex if you can't comfortably afford to walk in an AD and buy it retail price.

My question is; if you're not a submariner, why wear a submariner?

I mean just treat it like everything else ( equivalent price car , hobby , etc. ) but the wife might be a lil upset if you’re spending 10k on a watch lmao But if that’s your only hobby or main interest then go at it reasonably

I can afford to buy a new Patek ... btw, with Rolex and Patek, ALWAYS buy from an authorized dealer... Rolex will usually get 10% off if you're serious and a cash buyer... Patek is going to be full price, and if you go gray market on a Nautilus, you're looking at a $10-15000 premium over retail.

you should buy a Rolex, if it costs less than a net month wage - easy

Think twice and deep breath. and ask to yourself. do i really need 10k, 20k watch?? why? for what? nobody care what you wearing on your wrist. you can do a lot of thing with that money. I spent more than 60k for watches. however, that is meaningless. Don't do same mistake like me.

If you have to ask if you can afford it, you can't.

$75k a year.... = MUR 2,625,000 = MUR 218,750 / month salary in my currency.... Hmm that would be a Top Management Position here (Master's degree+) (I get much less). So basically middle class in the first world is paid 4 to 5 times more than in Africa. Damn... i'd have to wait four years, with an angry wife without nicotine or alchohol! hahahhaah

I am 24 years old and i bought with my own money a DJ 2021 jubilee white gold for 9300 EUR from rolex, so in my opinion anyone can buy a rolex. Thats my first, now im going for a sub, so I can change them between everyday and occasion

My former boss wore a Batman and he was cool

If you can't afford to buy it twice, you can't afford it. Simple.

Have a Rolex without life. If I really need a Rolex because I can live ? I would take a loan and live life.

Well there are no new ones. So buying used is all you’ve got if you want one.

Good advice. We spend googobs of money on BS. Just look at your debit card statement. My wife spends thousands on junk. I've tried to tell her to just cut back. Oh I'm buying a rollie in 2 months.

I can do without alcohol.