In Jim Cook's Archive


In 1984, I bought a Rolex watch in Zurich, Switzerland. If memory serves me it cost $4,500. I’ve worn it for 36 years and on several occasions had to take it to a Rolex dealer in the U.S. for repairs. Each time the charge was over $800. Recently the stem fell out. I called the local Rolex dealer to find out what the cost would be. They said around $1,200. “The heck with that,” I thought. I went to a jewelry store at the local mall and bought a nice looking Citizen watch for $150. Then I called my friend Brian who does a lot of business buying gold scrap and unwanted gold jewelry. He took the watch and later called me to say he could get me $5,250 for it. I told him to go ahead and sell it. A few days later, be brought me a stack of $100 bills. My plan was to buy three one-ounce gold coins to replace the gold in the watch. So far, I like holding onto the stack of hundreds, but I’m now thinking I should buy more silver. A new Rolex is $36,000, so that’s out of the question. I’m just as happy with my $150 watch. It seems that as you age, you become more practical.

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