Black and Red Trace
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Situation:
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A rookie wears some VERY expensive jewelry to a meeting with a perspective client. Client looks at his wrist and views a ultra high cost luxury Swiss made timepiece.
Client thinks:
A)- If this broker can afford that watch he must be doing very well!
B)- This moron is a bum! If he is this imprudent his own money, what will he do with mine?
C)- Where does this guy come from?
D)- That is so cheesy. Everyone who pretends to be wealthy gets one of those…
There was a similar post a few years back about a Toyota Corolla vs. some kind of BMW..
Your input is appreciated..While I tend to be on the Camry/frugal side of the equation, I think that in reality most clients have A.) go through their mind, and they tend to want to associate with a successful individual.
Image matters.
My challenge now is that my wife has a similar mindset to mine, but as I have changed and wanted to invest a few bucks in a premium vehicle she isn’t too excited about that…
If i was a client I wouldnt notice it. I would more notice how the broker looks, is dressed, and how he comes off, speaks well etc. Most people dont know an expensive vs inexpensive watch.
If the nice watch matches someone with a good appearance, I dont notice...You want a classy watch not something you see in a rapper video.
[quote=leftykickserve]
If i was a client I wouldnt notice it. I would more notice how the broker looks, is dressed, and how he comes off, speaks well etc. Most people dont know an expensive vs inexpensive watch.
If the nice watch matches someone with a good appearance, I dont notice...You want a classy watch not something you see in a rapper video.
[/quote]So you shouldn't wear one of those big things on a chain around your neck?
Subtle, nice but not trying to get attention.
Just an example:
https://commerce76.datapipe.com/skagen/data/productimages/10 5LTX_XL.jpg
[quote=DirtyDeltaBro]<p =“Msonormal” style=“margin: 0in 0in 0pt;”>Situation:
A rookie wears some VERY expensive jewelry to a meeting with a perspective client. Client looks at his wrist and views a ultra high cost luxury Swiss made timepiece.
Client thinks:
A)- If this broker can afford that watch he must be doing very well!
B)- This moron is a bum! If he is this imprudent his own money, what will he do with mine?
C)- Where does this guy come from?
D)- That is so cheesy. Everyone who pretends to be wealthy gets one of those…
There was a similar post a few years back about a Toyota Corolla vs. some kind of BMW..
Your input is appreciated.. [/quote]If it's a Rolex, then D for sure if the client is into watches *and* does not own a rolex. Ditto if you have a Tag or Patek.
My self I tend to think B. Since that watch could be lost/destroyed at any time. Of course my partner wears his Cartier to every client meeting. Myself, I own a nice swiss quartz watch Wenger, that looks a bit like a Panerai. If this one breaks, I'll buy a nifty Mondaine.
If you really want to come across as wealthy, wear a classic Breguet.
www.breguet.ch
If you want to buy nice watches, used, check out
http://www.europeanwatch.com/
[quote=joedabrkr]
So you shouldn’t wear one of those big things on a chain around your neck?
[/quote]
A genuine 8K gold chain is your best defense in bear market.
I cycle through two watches. One is a classy Movado link, and the other is a Tag Heuer square face with a dark brown alligator skin band. They ran about $1300 each- not too expensive, but also not a $75 Guess watch you get at your local Macy’s.
I think blarm has the right idea. Hit the middle. Maybe you can afford the Tag or the Rolex, but your clients might prefer you wear something a little more mid range. Get rid of the digital calculator watch though.
On the topic of guy jewelry, what about the pen you use. Do you use the vendor ball point, the pen out of the firm catalog embossed with the company logo, or do you spend $$ on a nice fountain or roller ball, ie a Montblanc, Visconti, etc. I recently bought a nice Visconti rollerball from the Fountain Pen Hospital in NYC. I've had a lot more people notice that than the watch I wear.
You forgot one:
E) If this guy can afford a watch like that, he is making way too much money off of me.
I do think it matters whether you are in a big city or a smaller town and the target client. In a smaller town you need to be more middle of the road. Nice enough to project success, but not too nice to flaunt it. In a big city, people with money make themselves feel important by wanting to work with the adviser who appears to be ultra-successful.
Raymond Weil watch, about $1300 15 years ago. Still looks new
Cars...Hmmm this always an interesting topic. IMHO as long as the car looks OK, and isn't a bottom of the line econobox it doesn't really matter. I've had cars work against me on both ends of the spectrum. Driving a client in a 5 series BMW the client commented how he didn't like foriegn cars. Then while driving a client to a 1st class lunch in my then new Honda Accord the guy asks why I don't have a BMW. You can't win on this, so buy what you like. I'd keep the real high end toy stuff out the clients view. As well as any other high end toys. And I'd lean towards sedans over other body types. Kinda goes with the button down territory we roam in.
I own nine vehicles, from scooters to a diesel pusher motorhome, Lincoln Towncar and Jeep Grand Cherokee are the daily drivers client go to lunch cars.
Agree, that how you look is most important. A good fitting inexpensive suit is better than an ill fitting expensive one. Best to go mid range for office, with a couple of expensive pieces for big meetings. For blue collar guys, after first meeting, once wall of trust is climbed, I sometimes show up in casual wear. So some nice casual clothes are a good addition.
I agree that it is the total picture that counts. And where you do your business. I wouldn't whip out the Montblanc and Rolex if my clients were all farm owners - "what the hell is that he's wearing??"
However, if you cater to mostly middle/upper-middle NW individuals from nice communities, nice, subtle taste matters. Well groomed, well fitting clothes, decent car (I would say at least nice Accord/Camry, no lower), nice leather bag/briefcase, etc. But if you are driving a Hummer, Mercedes, Porsche, etc., you better be catering to the Ultra HNW client base (think athletes, celebrities, CEO's, etc.).
I own about 52 expensive vehicles if you include my son's Thomas the Tank Engine collection.
[quote=blarmston]I cycle through two watches. One is a classy
Movado link, and the other is a Tag Heuer square face with a dark brown
alligator skin band. They ran about $1300 each- not too expensive, but
also not a $75 Guess watch you get at your local Macy’s.[/quote]
Movado watches are very classy. MOV, the stock is also classy.
You can buy most Movado watches at Overstock.com for a good discount.
[quote=Broker24]
But if you are driving a Hummer, Mercedes, Porsche, etc., you better be catering to the Ultra HNW client base [/quote]
If I stood in a mix of my clients you wouldn't be able to pick me out of the crowd. That means a Mercedes, BMW, Porsche (my fav) or even a top-end Caddy these days. It also means a subtle Rolex (not the Elvis version with the diamonds and gold) and quailty suits, shirts and shoes. People don't want to do business with poor people, they expect to deal with successful people. JMO, YMMV
[quote=Spaceman Spiff]I recently bought a nice Visconti rollerball from
the Fountain Pen Hospital in NYC. I’ve had a lot more people
notice that than the watch I wear.[/quote]
Pens are very good. I tend to keep my Fisher Space Pen handy, and have a stack of them to give to clients as well.
A you can’t go wrong with a classic Montblanc rollerball. A real
fountain pen tends to be too messy, too fussy and hard to use
IMHO.
"Movado watches are very classy. MOV, the stock is also classy."
A couple year aso I looked at that stock and it looked attractive- how's it doing these days?