Japanese Yen and Rolex

[Old Expat Beast]

About a year ago I bought about 1.3 million Japanese Yen. Big mistake. They've dropped a few percent this week, and look like continuing the dive. Overall, I'm just over ten percent down. I'm thinking that if the slide continues and I end up 20 percent down, I may as well spend the Yen either by going to Japan and getting a Rolex or buying on mail order. Seems to me this is the only way out of the exchange hole. If I can buy the same Rolex for that price that I could have bought a year ago, I'll come out even, or thereabouts. Does that make sense?

[RolexJNJ]

Makes sense to me!

[520Matt]

Seems to make sense to me, what watch are you thinking about acquiring?

[Old Expat Beast]

Originally Posted by 520Matt

Seems to make sense to me, what watch are you thinking about acquiring?

Haven't got that far yet, but something from the grey market. Either that or an SS Daytona from an AD. Something that I can re-sell in a couple of years and not lose.

[bdex75]

Originally Posted by Old Expat Beast

Haven't got that far yet, but something from the grey market. Either that or an SS Daytona from an AD. Something that I can re-sell in a couple of years and not lose.

As long as the Daytona "craze" or "fad" holds up I would say that you would be fine. You obviously cannot currency trade your way out. Question is to hold and wait for rebound or not. I say cut your losses.


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[s.justinlee]

If it ends with a new Rolex on your wrist, it makes perfect sense to me.

[bayerische]

Or keep it longer?

[malarky_hk]

I'm waiting for 115 which should be probable by early next year. Then I'm heading to Japan for some shopping. Coupled with with a tax refund, I think there are deals to be had.

[Old Expat Beast]

Originally Posted by malarky_hk

I'm waiting for 115 which should be probable by early next year. Then I'm heading to Japan for some shopping. Coupled with with a tax refund, I think there are deals to be had.

To the US$? It's already gone from 107 to 114 just this week.

[SubTTKky]

Originally Posted by malarky_hk

I'm waiting for 115 which should be probable by early next year. Then I'm heading to Japan for some shopping. Coupled with with a tax refund, I think there are deals to be had.

It's 115 n diving...time to buy Nikkei equity to get back the equal amount of loss from FX...

XE Market Analysis
North America Europe Asia
North American Edition2014-11-06 11:15 UTC
EUR-USD settled around 1.2500 into the ECB announcement, while USD-JPY settled in the mid-114s having retreated sharply after logging a 115-plus high during Tokyo trade, which left a low at 114.05. USD-JPY's high was 115.51, which is the loftiest level seen in six years. The subsequent dive correlated with a fairly big correction in Japanese stocks, while selling by Japanese exporters was also seen. The BoJ minutes from the October 6-7 meeting had little ... Read More ►

[malarky_hk]

Yes relative to USD. I am just being conservative. It already hit 114.05 this morning and then pulled back. Currently hovering around 113.6-ish.

[Gaijin]

Come on over Adam! I will show you a good time!

[Old Expat Beast]

Thanks Tom, you're definitely my point man over there!

[Scot_3]

I'd go for the watch, try not to drop this one,





Ok so that was just a little joke so sorry don't know what came over me, Hubble apologies

[locutus49]

The dollar is likely to remain strong against foreign currencies for a few more years. So you should move quickly IMO. Buy a Rolex with solid resale value. Probably SS.

[Gaijin]

Approaching 115 Yen to one US Dollar.

[malarky_hk]

At this rate, I maybe making an early trip to Japan.

[Old Expat Beast]

I just hope Rolex doesn't do a currency-adjusted price rise too soon.

[tkerrmd]

It sure does!!!!

[rr-nyc]

It was 101-103 when I was there in May and been going up since then. Unfortunately, I found watches to be on the expensive side when I looked so you might get double dinged.

[Gaijin]

Up over another .50 Yen today. Over 115 Yen to the Dollar.

[GB-man]

Originally Posted by Old Expat Beast

I just hope Rolex doesn't do a currency-adjusted price rise too soon.

You can count on that lol

[Gaijin]

Originally Posted by GB-man

You can count on that lol

Yes they will. Probably any day now if not already. Even the Greys do it here.

[Old Expat Beast]

Originally Posted by Gaijin

Yes they will. Probably any day now if not already. Even the Greys do it here.

That's too bad, Tom. I would've thought they (Greys) would prefer to keep prices the same and enjoy the extra sales from tourists. Locals must be pissed if that happens.

[Gaijin]

Originally Posted by Old Expat Beast

That's too bad, Tom. I would've thought they (Greys) would prefer to keep prices the same and enjoy the extra sales from tourists. Locals must be pissed if that happens.

If you have a model you want me to get a price quote on let me know Adam. Though I would recommend Tokyo for the best prices. I can check online for you in Tokyo though.

[malarky_hk]

Don't think the ADs will be forced to raise prices immediately because of a recent drop in the Yen. I would think there needs to be a sustain depression of the Yen over a period of time before prices go up across the board.

[bayerische]

The Yen has been low for about a year and a half now.

Still hasn't reached the low of 2008.

[Tokyo Time]

I see a Broadway Nakano trip in my weekend future

[threemonkeys]

Consider yourself enabled.

[malarky_hk]

Christmas come early for someone. USD/JPY hit 116 today and looks like dollar momentum still going strong.

At this rate I'll definitely be picking up a new addition on my next trip to Japan!