CHIP
WWF Founder
Ad Astra Per Aspera
Posts: 37,799
Name: Chip
Location: Dallas
Since: Oct 8, 2005 17:08:57 GMT -6
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Post by CHIP on Dec 6, 2017 13:35:36 GMT -6
We wouldn’t be mad at you if you did gift us, Ron. Any model of your choice.
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Post by lagunatic on Dec 6, 2017 14:21:07 GMT -6
We wouldn’t be mad at you if you did gift us, Ron. Any model of your choice. Chip, I love this time of year. I love gorging myself on dividends and capital gains. I love having money burning a hole in my pocket.
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CHIP
WWF Founder
Ad Astra Per Aspera
Posts: 37,799
Name: Chip
Location: Dallas
Since: Oct 8, 2005 17:08:57 GMT -6
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Post by CHIP on Dec 6, 2017 14:23:13 GMT -6
I’m happy for you, that’s a feeling I never had.
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Post by rw16610 on Dec 6, 2017 16:12:55 GMT -6
I just got word my investment income is coming in on December 19th. Now I will be partnering with the Internal Revenue Service and the California Franchise Tax Board. The money I pay in federal and state income tax, I could gift the forum members with nice Rolex watches. 40% roughly, right? I remember being shocked by the amount a while back when I first discovered. $1,000,000.00 USD in money won would instantly have $400,000.00 gone to federal and state taxes. Luckily for me here in Canada that sort of "income" isn't taxable. I'm certain the amount will be around that percentage.
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Post by lagunatic on Dec 6, 2017 23:09:47 GMT -6
I just got word my investment income is coming in on December 19th. Now I will be partnering with the Internal Revenue Service and the California Franchise Tax Board. The money I pay in federal and state income tax, I could gift the forum members with nice Rolex watches. 40% roughly, right? I remember being shocked by the amount a while back when I first discovered. $1,000,000.00 USD in money won would instantly have $400,000.00 gone to federal and state taxes. Luckily for me here in Canada that sort of "income" isn't taxable. I'm certain the amount will be around that percentage. Long term capital gains and dividends are taxed at a lower rate than ordinary income, I think. Paper gains mean nothing in the stock market, they change from day to day.
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Post by rw16610 on Dec 6, 2017 23:39:56 GMT -6
All the more reason to reward yourself! For any income where it doesn't get deducted at source it must be super depressing to fork it over. The government here makes repayment a pain with limited transfer / payment options. Psychologically it's got to be a major factor so many tighten up spending. Either way I think you're past the point of no return. Considering how long this has been on your mind it seems inevitable.
I remember seeing a thread on TRF basically asking members why they like Rolex. Of course I contributed a response outlining the history, styling, etc. One of the responses that stuck with me the most was the one where a member described the way his watch manages to lift his spirits and keep him motivated on a tough day of business. This has been true for me as well as this brand became so much more than just a watch.
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Post by lagunatic on Dec 7, 2017 0:27:36 GMT -6
I just got another offer of $9,500.00 for my two tone Submariner on watchuseek. The guy wants to drive up from San Diego and inspect it and pay cash. Like that's going to happen. I countered offered of $10,000.00 and bank wire transfer only and postal delivery only.
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Post by rw16610 on Dec 7, 2017 9:21:24 GMT -6
That's still under $13,000 CAD and I see people trying to sell them for around $15,000 CAD here.
Selling face to face in this price range does present challenges of it's own. Luckily he's a local and if you did ship it wouldn't be in transit long. Maybe if you felt comfortable and there was like an AD to meet at where he could verify and then do a transfer? I guess that wouldn't make sense as you want to have the bank verify the transfer first.
Either way, I can assure you if he's not the right buyer or you guys can't agree to the terms of the sale someone else will buy it, no problem. A lot of sport models are so hard to find they've got many looking into pre-owned that wouldn't normally buy this way.
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Post by lagunatic on Dec 8, 2017 0:26:18 GMT -6
That's still under $13,000 CAD and I see people trying to sell them for around $15,000 CAD here. Selling face to face in this price range does present challenges of it's own. Luckily he's a local and if you did ship it wouldn't be in transit long. Maybe if you felt comfortable and there was like an AD to meet at where he could verify and then do a transfer? I guess that wouldn't make sense as you want to have the bank verify the transfer first. Either way, I can assure you if he's not the right buyer or you guys can't agree to the terms of the sale someone else will buy it, no problem. A lot of sport models are so hard to find they've got many looking into pre-owned that wouldn't normally buy this way. I would never conduct a transaction in my home to sell my watch.
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Post by rw16610 on Dec 8, 2017 1:07:26 GMT -6
Same! That's the issue with selling watches (or anything) sometimes, it presents challenges. As a buyer I would much rather inspect it myself in person or have an unbiased third party provide the service before paying the cash / doing the transfer. I've never sent or received a wire transfer before but do know they should be verified before shipping or handing over the goods. If meeting at a bank in the safety deposit room or something is an option it provides some alternatives.
I'm certain you'll be able to avoid all of that though and find an out of state buyer willing to do the wire transfer. Parcel Pro (tell them you're a private collector) and verification of the transfer and you're basically covered. Overnight shipping and it'll all be over before you know it.
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Post by aerome on Dec 8, 2017 6:32:02 GMT -6
My family members went up to Fashion Island shopping center today in Newport Beach. I told them to stop by Traditional Jewelers and take a look at the new Rolex Day Date 40 models. Traditional has all the new precious medal models in stock. My family likes the rose gold model best because I have a yellow gold already and the platinum model looks like lead or steel and it's so heavy. I like a watch with heft to it. Next Sunday I will take a trip up there and take some wrist shot photos and see what you guys think. Agree that to the untrained eye, platinum would just look "plain". That may be exactly the look one desires. And I don't know how the hell I'm just now getting around to seeing a 2015 post!
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Post by lagunatic on Dec 11, 2017 15:25:42 GMT -6
I just called my AD, No word yet on the ceramic Daytona. I will call her every Monday. I just got word my investment income will hit my money market account December 21. I will tell you guys exactly how much unearned income I made in 2017 when it comes in.
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Post by rw16610 on Dec 11, 2017 16:21:50 GMT -6
That's perfect, Ron! Just in time to make this happen before the new year!
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Baco Noir
WWF Advisor
WWF Admin
Posts: 31,388
Name: Roger
Since: Mar 14, 2011 13:09:50 GMT -6
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Post by Baco Noir on Dec 11, 2017 17:20:11 GMT -6
I just called my AD, No word yet on the ceramic Daytona. I will call her every Monday. I just got word my investment income will hit my money market account December 21. I will tell you guys exactly how much unearned income I made in 2017 when it comes in. Please also send me the tracking number for the white dial ceramic Daytona you're gifting me so I can prepare a nice thank you note on one of our homemade thank you cards!
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Post by lagunatic on Dec 21, 2017 1:00:24 GMT -6
I just called my AD, No word yet on the ceramic Daytona. I will call her every Monday. I just got word my investment income will hit my money market account December 21. I will tell you guys exactly how much unearned income I made in 2017 when it comes in. Please also send me the tracking number for the white dial ceramic Daytona you're gifting me so I can prepare a nice thank you note on one of our homemade thank you cards! My dividend and capital gains distributions for 2017 is $507,470.15. Roger,What should I do with $507,470.15 in cash burning a hole in my pocket?
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