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As somone who isn't wealthy, who will buy the Edition Apple Watch?

k3ith said:
I don't want to start a huge discussion, but at this point in time.. most super rich people that treat $20k like $20 did not work hard and sacrifice to get there. They're most often born into money. Maybe 100 years ago that would have been the case, but not now.
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This is total bull. A lot of the rich have had advantages I didn't have, sure. Just like I've had advantages other people haven't, and on down the line. I mentioned earlier that I often work for pretty wealthy people and I don't know a single one who had it just handed to them. Sure, Paris Hilton exists, but the idea that most rich people don't work hard to get there is preposterous.
 
chris975d said:
That's kind of the point that I was making. People who aren't millionaires can feel confident in buying Rolex (for example), because it's something that, at least historically up to this point, has been something that holds really good value.

But with an Edition watch, that's not going to be the case. It's going to be a $10,000 toy purchase. Exactly the same thing as buying a $10k iPod or iPhone. So that $10k is going to have to be meaningless to the person buying. And that's going to take either really stupid person making 6 digits (who will soon be broke), or someone worth 7-8 figures to whom $10k is insignificant.
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Well stated.

To put the Gold Edition Watch in perspective, as an avid and knowledgeable student of horology, watch collector and historian I began my collection of ultra luxury all mechanical precision hand made watches 15 years ago. Unlike some mine are heavily insured as its my choice to put them into rotation to wear and enjoy.

My modest collection numbers just twenty watches. One of my favorites that ironically is the least expensive, has an actual cash value of 32% greater than its MSRP of $57,600 when I purchased it eight years ago.

To my watch collector peers it's viewed as very inexpensive, since a good majority of them don't collect anything that sells for under $100,000. Therefore as you can see everything is relative.

The biggest drawback of Apples best Edition Watch is it has no heritage. It doesn't come from a 100 or 200 year old Swiss company as mine and other collectors do. It's not handmade, the case is extremely plain lacking the detail of any and all high end jewelry of any kind.

It's but a gold plated gadget. Smart yes, technical yes, but it has no cache, no soul. Cold and calculating only time will reveal its fate. No doubt Apple will sustain the line, but at what volume?

Personally I'm already deeply enmeshed in technology of my day to day, warp speed research and design work. I don't need reminders on my wrist to distract me from the work that pays me so handsomely. An opinion shared by the majority of my fellow engineers.
 
technosix said:
Well stated.

To put the Gold Edition Watch in perspective, as an avid and knowledgeable student of horology, watch collector and historian I began my collection of ultra luxury all mechanical precision hand made watches 15 years ago. Unlike some mine are heavily insured as its my choice to put them into rotation to wear and enjoy.

My modest collection numbers just twenty watches. One of my favorites that ironically is the least expensive, has an actual cash value of 32% greater than its MSRP of $57,600 when I purchased it eight years ago.

To my watch collector peers it's viewed as very inexpensive, since a good majority of them don't collect anything that sells for under $100,000. Therefore as you can see everything is relative.

The biggest drawback of Apples best Edition Watch is it has no heritage. It doesn't come from a 100 or 200 year old Swiss company as mine and other collectors do. It's not handmade, the case is extremely plain lacking the detail of any and all high end jewelry of any kind.

It's but a gold plated gadget. Smart yes, technical yes, but it has no cache, no soul. Cold and calculating only time will reveal its fate. No doubt Apple will sustain the line, but at what volume?

Personally I'm already deeply enmeshed in technology of my day to day, warp speed research and design work. I don't need reminders on my wrist to distract me from the work that pays me so handsomely. An opinion shared by the majority of my fellow engineers.
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Well put. While I agree for some people a 17k watch may not seem expensive, it will surely be costly to keep up to date so you can even wear one. I saw another poll here where people estimated buying a new apple watch every 2-3 years. At the rate it could cost over nearly 100k just to wear an apple watch that's up to date with apple's continuously evolving iPhone line.

I guess there's just a lot of unanswered questions floating around in my head. But then again there's no denying there are people with disposable income that wouldn't lose any sleep purchasing them, even if it is a poor investment.
 
kmj2318 said:
Picture someone making a $50,000 salary buying a $500 watch. Not much strain for a single person without a family. Many people on this forum could fit this image.

$10,000 is 20 times $500, and $1,000,000 is 20 times $50,000. So I think $1 million salary is doable.
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/s? $50k is 100 times $500, and $1mil is 100 times 10k... therefore 1 million dollar salary keeps the ratio proportionate-- is that what you meant?
 
I am shocked that so many people are outraged by the fact that Apple decided to prove that their Smart watch is an actual watch by making a more exclusive model targeted to wealthy people.
Nobody criticises Rolex, Patek or Hublot for making even more expensive watches just for the fact that they don't depreciate the way technology does, but in reality nobody really buys a watch for it's value but because of the looks.
If I could afford one I'd definitely get the gold one with the black strap being fully aware that it's a fad.

I also think that if you really want one you don't have to be a millionaire. If you make that kind of money in a month you could go for it, I know plenty of people that spend a lot of money on fashion items etc.
 
kmj2318 said:
They're the same thing. Reread my post.
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... $10,000 dollars in not an annual salary... and the apple watch edition does not cost $50,000 ...

Although the math is consistent, your analogy is flawed -- see below:

kmj2318 said:
$10,000 is 20 times $500, and $1,000,000 is 20 times $50,000. So I think $1 million salary is doable.
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Get it?

Or maybe it's me that's unclear.

Regardless, I think you could make far less that 1 million a year and still afford an apple watch edition. But to pay a 9,750 dollar minimum upcharge on gold plating for a 350 dollar watch -- no matter how much you make -- strikes me as nuts.
 
I wear a watch that cost me about $12k. It's not the first watch in that price range I've owned either. I'd stop short of describing myself as an Apple fan boy, but I really really like Apple. That said, there's not a chance in hell that I'd ever spend 10k+ on an Apple watch or ever recommend to anyone that they should. Here's why:

•*The Apple Watch edition is the exact same insides as the Apple Watch Sport. In fact, the outside is too, it's just the material used to build it. You're literally paying extra for a change in precious metal.
• The cost of the raw materials used in the Apple Watch Edition aren't anywhere near what Apple is charging for the watch.
•*Owning a Rolex, Panerai, Patek Philippe, etc are are all status symbols, but also quality timepieces with a storied tradition behind them. One can argue that while one of their timepieces may not actually be "worth" what you're paying, that they're certainly worth more than the Apple Watch because of legacy, tradition, and the amazing technology behind them.
• For what Apple is charging for some Apple Watch Editions, you could actually buy highly sought after Rolex, or Panerai's, or even some Patek Philippe watches.
•*The Apple Watch Edition isn't going to be any kind of family heirloom.

I could go on. I'm not sure I'd describe myself as super wealthy, but I'm upper middle class for sure. If I wanted, I could go buy that watch right now without touching credit, but I never would, because it's an absolute joke and a complete waste of money.

To be honest, in the back of my mind, I had kind of hoped I'd be unimpressed with Apple's' watch because I love my own so much that I didn't want to be torn - well, I'm not. The Apple Watch (at least to me) is relatively unimpressive, and the pricing is way off. I may buy one, a sport edition, for when I work out, or just to see how it works, but otherwise, this is a big miss to me, especially the Edition.
 
AlphaTeam said:
Sure, but a Rolex you can give to your grandkids. The Apple Logo Watch: Edition will just be worth the gold in it in a few years. The grandkids would laugh at it. Maybe I'm just better with my money, but if I was a millionaire I'd still think twice about a $10k gadget.
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Most grandkids will laugh at a Rolex. After you explain to them what it is.

My father has a gold watch. It's light and thin - not Rolex-like at all. A couple of years ago, when my sister was talking to my mother about the eventual disposition of my parents' personal belongs my mother said that of course the watch would go to me. My sister, who has long wanted it (it's suitable for a woman) said, "But he'd never wear it."

When the story was told to me I said, "Of course I'd never wear it. I'm fine with her having it."

And that's pretty much why I'm not buying the Edition. And why I'm glad my father never bought a Rolex that neither of us would want!

BTW. I live downtown, bike everywhere and can't imagine spending 10s of thousands on a car, and thousands more a year for garage, parking, insurance, gasoline, etc. But lots of people with less money than me do just that. So from that point of view I could buy am Edition quite easily on an income nowhere near a million!
 
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aziatiklover said:
So the question is will Apple offer any financing like when you are buying a car at $10k and over?
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There's the Barclay's "Apple" card. But of you have to go this route, then the watch edition is certainly not for you.

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elgrecomac said:
They'll sell a ton of them in Asia.
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Yeah, Asia definitely has a major show off epidemic. For someone who's experienced the real Gangnam style and those in it, this watch will sell there.
 
elgrecomac said:
They'll sell a ton of them in Asia.
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Yeah, I think people might be missing the point of the Edition. There WILL be people who will buy it. Many. Just to have the latest and greatest because they can. And I'd wager a guess that the majority of them won't be in the US. Why else did they design it in gold? That appeals to the nouveau riche in developing countries.
 
peterdevries said:
Sorry, but many people here are not analyzing this completely. Obviously the technical aspects of the watch will depreciate in value fairly quickly. Especially if the watch has a similar update cycle as the iPad and iPhone. However, the watch will run much longer than just one update cycle, and most importantly you are not paying $17,000 only for the tech, but also for a pretty big chunk of compressed, hardened solid gold. You can bet that the value of just the gold is very high, and that recovering a big chunk of that value when the watch dies is as easy as bringing it in to a jeweler or maybe even Apple.

So, one shouldn't conclude that this watch will be worth nothing in 5 years, because that is absolute nonsense.
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I'm not expert but upon reading many articles and evaluations it'll be a bad investment. It will be scraped for gold at best. The internals are the same as the $350 version and the gold value is significantly less than the price tag minus the cost of the internal hardware.
 
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Fool's Gold

18k gold it may be, but let's face it, the Apple Watch Edition at $10000-$17000 is a clear cut case of fool's gold.

Can't wait to have a good giggle upon the first fool I come across wearing one :p

Apart from that, some disappointment that Apple has descended into catering that market segment instead of focusing on usabilty and value of their innovations. Yes, the argument's getting tired, I know, but Steve Jobs wouldn't...
 
In terms of a fashion accessory It's similar to an Haute Couture or Demi Couture piece. They will be photographed and printed everywhere but will only be worn by a very niche group if they're even purchased at all.
 
papa8706 said:
I'm not expert but upon reading many articles and evaluations it'll be a bad investment. It will be scraped for gold at best. The internals are the same as the $350 version and the gold value is significantly less than the price tag minus the cost of the internal hardware.
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Well, if you look at the Apple Edition Watch as an investment, then you have your wealth management strategy backwards. If you are looking to make money then buying that watch isn't the way to do it.
 
peterdevries said:
Well, if you look at the Apple Edition Watch as an investment, then you have your wealth management strategy backwards. If you are looking to make money then buying that watch isn't the way to do it.
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I assure you my "wealth management strategy" is not backwards. It's not about making money, it's about losing money. The value of the watch will depreciate quickly and the value of gold is marginal in comparison to the overall price.

If you want to buy a 17k apple watch that's fine, it's just not gonna hold it's value but many who have the money to buy one don't care about that
 
People who live a financially privileged life with much more money than average people. Let me wrap up this debate quickly. If you flinch at the thought of spending >10k on disposable tech then you prob won't buy it. If, on the other hand all you can think is "oh, I have to get one" and your pulse doesn't even elevate, then YOU are the person who can afford to do so. It's cliche but if you have to think about the price it isn't for you.
 
mrnoglue said:
... $10,000 dollars in not an annual salary... and the apple watch edition does not cost $50,000 ...

Although the math is consistent, your analogy is flawed -- see below:



Get it?

Or maybe it's me that's unclear.

Regardless, I think you could make far less that 1 million a year and still afford an apple watch edition. But to pay a 9,750 dollar minimum upcharge on gold plating for a 350 dollar watch -- no matter how much you make -- strikes me as nuts.
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Can't really make this argument based on functionality or else nobody would ever buy any sort of jewelry. The cost IS the product.

Just remember, a used one will probably be 4-6k when the Apple Watch 2 comes out. Might be nice to get then if you have the bucks.
 
papa8706 said:
I assure you my "wealth management strategy" is not backwards. It's not about making money, it's about losing money. The value of the watch will depreciate quickly and the value of gold is marginal in comparison to the overall price.

If you want to buy a 17k apple watch that's fine, it's just not gonna hold it's value but many who have the money to buy one don't care about that
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Then why did you call the watch an "investment" if it so clearly isn't? The definition of an investment is that you inject money or other value into a venture or a product with the expectation of more value coming out at a later time.
 
peterdevries said:
Then why did you call the watch an "investment" if it so clearly isn't? The definition of an investment is that you inject money or other value into a venture or a product with the expectation of more value coming out at a later time.
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Seriously lol?

You stated, "You can bet that the value of just the gold is very high, and that recovering a big chunk of that value when the watch dies is as easy as bringing it in to a jeweler or maybe even Apple. "

People invest in gold. If you want to buy the watch and accept it's just a product then that's fine.

If you are buying with the mindset that you are going to try to recover a "big chunk of that value" when it's obsolete by selling the gold to the jeweler that implies you are seeing it as an investment that you will be looking to see a partial return on in the future.

Unfortunately, you'll be sad to see the actual value of the gold is much lower than you realize.

That's my 2 cents...

Here's another interesting read if you want to lecture CNBC on the the definition of investment too,

"The best $10K investment: Apple Watch or Rolex?"
http://www.cnbc.com/id/102502804
 
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