Why are people obsessing over getting the hard to obtain models?

[CEITS]

Outside of extremely rare rare watches the price of used watches have shown to decrease in value (yup even the pepsi gmt).

The wait is ridiculous, you have to spend at an AD, buying in the secondary market (grey) is at a premium.

If this was art and you had to do this to a dealer (invest in the gallery, show up to gallery openings. prove you are not a flipper, etc) I would understand since the painting is unique and most likely to increase in value for hard to attain paintings. I personally bought a painting for 30k and if I sold in the secondary market (auction) it would fetch 200k net in less than a year. The wait for this artists piece is insane. People are on a long wait list. But the ROLEX market is on the same level so just curious as to why.

But why ROLEX? Do people here think about this? The amount of time it takes?

I get because we enjoy as a hobby but some here look at it as investment.

[Kliminator]

It's human nature... the fact that people can't obtain those specific pieces makes them want it even more. It's crazy how many threads a day we have on the same 3 topics!

[007timer]

Originally Posted by Kliminator

It's human nature... the fact that people can't obtain those specific pieces makes them want it even more. It's crazy how many threads a day we have on the same 3 topics!

Agreed


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[Likestheshiny]

People who can afford Rolexes want what they want.

[CEITS]

Originally Posted by Likestheshiny

People who can afford Rolexes want what they want.

I'd buy a 20/30k piece of art and see it appreciate 10x fold. Point being the effort and time you put into attaining a ROLEX (SS) you can do the same and get 10x better results in a different market such as art.

[jimcameron]

Originally Posted by CEITS

I'd buy a 20/30k piece of art and see it appreciate 10x fold. Point being the effort and time you put into attaining a ROLEX (SS) you can do the same and get 10x better results in a different market such as art.

Have you ever tried to pickup a beautiful woman with a painting strapped to your wrist?

[snowblaze]

I guess this is concept of scarcity. It doesn’t apply just to watches. It applies to car, houses, clothes, collectibles and even food etc :) the limited food will always seems to many as imore desirable and tasty, even though the food stall which opens 24/7 with no queue could in fact taste better for you.

[blankapdx]

Originally Posted by jimcameron

Have you ever tried to pickup a beautiful woman with a painting strapped to your wrist?

good one brother!!!

[Aplover5]

Originally Posted by jimcameron

Have you ever tried to pickup a beautiful woman with a painting strapped to your wrist?

Hilarious

[rlx123]

Originally Posted by CEITS

I'd buy a 20/30k piece of art and see it appreciate 10x fold. Point being the effort and time you put into attaining a ROLEX (SS) you can do the same and get 10x better results in a different market such as art.

You can only sell you piece of art for as much as someone is willing to pay for it. Not too many people knows about your “artist”, but the whole world knows about Rolex. The whole world perceives the “value” of Rolex as a well made watch. You show a Rolex to a random person on the street and he instantly recognizes it, show your painting to the same guy and most likely he won’t think it’s worth 230k. Your artist might be well known within a very small circle of art collectors but not to the world. Not the same market.

[InitialAndPitch]

Originally Posted by CEITS

I'd buy a 20/30k piece of art and see it appreciate 10x fold. Point being the effort and time you put into attaining a ROLEX (SS) you can do the same and get 10x better results in a different market such as art.

Generally speaking at the investment range you’re speaking about in the art market, art is one of the worst possible investments you can make unless you make a 0.1% of artists putchase of a novel artist who temporarily jumps. And if you you happen to buy from a dealer at the right moment.

Again generally you a 30% buyers premium at auction, very sluggish year on year growth (ultra rare exceptions noted) and the final insult is a 30-40% dealers sale fee or 30% at auction. So you’re fielding 60% on fees alone on top of growth at the bottom of the investment class portfolio. I’ll see if I can find and link the portfolio return report.

If you have a rare person to person transaction with no middlemen and a 0.1% artist, a hot investment class art is not.

[BumbleB]

Originally Posted by Likestheshiny

People who can afford Rolexes want what they want.

Exactly, and the number of people who can keeps increasing fast

[CEITS]

Yes but the value of used watches do not go up minus the super rare rare models. The SS SUBS, GMT's etc if used will not be valuable 10, 20, 30 years from now. That is why I am curious as to why there is such an obsession?

[Fleetlord]

Originally Posted by CEITS

Yes but the value of used watches do not go up minus the super rare rare models. The SS SUBS, GMT's etc if used will not be valuable 10, 20, 30 years from now. That is why I am curious as to why there is such an obsession?

They won't ?

[Nairn1980]

Originally Posted by CEITS

Yes but the value of used watches do not go up minus the super rare rare models. The SS SUBS, GMT's etc if used will not be valuable 10, 20, 30 years from now. That is why I am curious as to why there is such an obsession?

What a lot of rubbish

[shaunylw]

Originally Posted by CEITS

Yes but the value of used watches do not go up minus the super rare rare models. The SS SUBS, GMT's etc if used will not be valuable 10, 20, 30 years from now. That is why I am curious as to why there is such an obsession?

Because 5512, 5513, 1680 are so cheap at the moment?


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[jsausley]

Why are people obsessing over getting the hard to obtain models?

Because they're hard to get.

These threads answer themselves sometimes.

It's like there are a bunch of Rolex owners that *don't* want Rolex watches to be popular. I don't get it.

[broham84]

Originally Posted by CEITS

Yes but the value of used watches do not go up minus the super rare rare models. The SS SUBS, GMT's etc if used will not be valuable 10, 20, 30 years from now. That is why I am curious as to why there is such an obsession?

What? 5 digit subs are going for twice what it was brand new 2 decades ago. GMT II are 3X right now. Where are you getting this notion they will not be valuable from?

[Dsmith1974]

Originally Posted by CEITS

Yes but the value of used watches do not go up minus the super rare rare models. The SS SUBS, GMT's etc if used will not be valuable 10, 20, 30 years from now. That is why I am curious as to why there is such an obsession?

Last year I purchased a pre-owned 16610LV and 116710 BLNR from greys. At the time I thought they were pricey but I liked them. I just checked the prices today after reading someone traded their BLNR in for a Daytona.

In the year I’ve had them both watches have risen 40%.

I’m not a flipper but if I were to cash out now then a %40 Annual ROI is pretty awesome and they were way more fun than a stocks and shares ISA or a savings fund.

I don’t like it but you can see why non wis guys are parking money in watches at the moment.

[TswaneNguni]

Originally Posted by CEITS

Yes but the value of used watches do not go up minus the super rare rare models. The SS SUBS, GMT's etc if used will not be valuable 10, 20, 30 years from now.

Is that so ?

[aleeboy]

Getting your hands on a SS sports model can be likened to being pre-allocated shares in a hot IPO of past.

Alternatively, you are buying off such a holder post IPO and paying a premium.

This was the case in the past, but many stocks which IPO'd within the last 12-24 months are well below their IPO prices. Luckily the people that were pre-allocated were able to offload some when the bell opened.

[CEITS]

Originally Posted by aleeboy

Getting your hands on a SS sports model can be likened to being pre-allocated shares in a hot IPO of past.

Alternatively, you are buying off such a holder post IPO and paying a premium.

This was the case in the past, but many stocks which IPO'd within the last 12-24 months are well below their IPO prices. Luckily the people that were pre-allocated were able to offload some when the bell opened.

Correct but that means you are 1. a flipper 2. not enjoying the watch 3. not wearing it since a used watch decreases in value exponentially. Plus buying a SS GMT for 10k you are selling for max 15-18k. Art market you are looking at a way better return and you can hang it on your wall and enjoy it.

If you are comparing to buying a new SS sport model at an AD you cannot wear it or else it will not fetch the premium compared to new.

[BT1985]

Originally Posted by CEITS

Correct but that means you are 1. a flipper 2. not enjoying the watch 3. not wearing it since a used watch decreases in value exponentially. Plus buying a SS GMT for 10k you are selling for max 15-18k. Art market you are looking at a way better return and you can hang it on your wall and enjoy it.



If you are comparing to buying a new SS sport model at an AD you cannot wear it or else it will not fetch the premium compared to new.

Not sure why you keep saying it will lose value if you wear it. If I buy a BLRO at MSRP of $9,250 I could wear it for a month and sell it for at least $14k. At this point in time any SS sub, GMT, Explorer II or Daytona will take zero depreciation hit to MSRP assuming you don’t mangle it.


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[Helmi]

Originally Posted by CEITS

Correct but that means you are 1. a flipper 2. not enjoying the watch 3. not wearing it since a used watch decreases in value exponentially. Plus buying a SS GMT for 10k you are selling for max 15-18k. Art market you are looking at a way better return and you can hang it on your wall and enjoy it.



If you are comparing to buying a new SS sport model at an AD you cannot wear it or else it will not fetch the premium compared to new.

I am not art expert, however I don't understand why you say used steel rolex depreciate heavily? If you look at vintage references of steel subs, Daytonas, GMTs etc they actually appreciated heavily compared to their msrp

[clb521]

Originally Posted by CEITS

Correct but that means you are 1. a flipper 2. not enjoying the watch 3. not wearing it since a used watch decreases in value exponentially. Plus buying a SS GMT for 10k you are selling for max 15-18k. Art market you are looking at a way better return and you can hang it on your wall and enjoy it.



If you are comparing to buying a new SS sport model at an AD you cannot wear it or else it will not fetch the premium compared to new.

1. Not true. Not all people that buy hard to get watches are flippers. Most of my watches are in that category and I am not selling them anytime soon. 2. Also not true. I enjoy all my watches especially hard to find ones simply because I have them. 3. Also not true. Just because you have something hard to get doesn't mean it never gets used.

Every one buys there watches for different reasons. At the end of the day it's our money and our business.

And usually by nature hard to find items increase in value over time. Not always but most of the time they do.

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[teck21]

Originally Posted by aleeboy

Getting your hands on a SS sports model can be likened to being pre-allocated shares in a hot IPO of past.



Alternatively, you are buying off such a holder post IPO and paying a premium.



This was the case in the past, but many stocks which IPO'd within the last 12-24 months are well below their IPO prices. Luckily the people that were pre-allocated were able to offload some when the bell opened.

That’s actually a really good analogy. There certainly is a huge FOMO factor running through buyers.

And it is this same fear that’s leading to plenty of speculation. Indeed there are a fairly large number (by proportion) of buyers who really are interested in nothing more than flipping their buys at a profit as quickly as they can. Just like an IPO participant trying to be the first to key in their sell order when trading begins.
It seems particularly prevalent in this part of the world.

It is unlikely demand can run this hot forever, but I am also doubtful the ‘good old days’ of there being enough to go round in ADs will ever return in the absence of meaningful supply increases.

What is happening now is abnormal, but when normalcy returns, it is unlikely to be the old normal.


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[SkyJuice]

Human’s nature to acquire exclusivity regardless of its price.

[TheDon2000]

My angle is...People like the pieces FIRST and the DEMAND for them makes them hard to get. Personally, some of my favorite Rolex's would be DaytonaC's, BLNR's, LVc, and a classic SS Submariner LN...I also like a blue dial Sky-Dweller - Hmm, looks like I just named off some of the most desirable pieces...

Point is, whether these were dime a dozen or impossible to procure, I would still like them. The design and colors of them are just more appealing than the rest of the options for me.

I guess that's the case for a lot of people as DaytonaC's, BLRO's etc. are nearing the impossible side of the scale (At retail, from an AD).

[Nav01L]

Originally Posted by TheDon2000

My angle is...People like the pieces FIRST and the DEMAND for them makes them hard to get. Personally, some of my favorite Rolex's would be DaytonaC's, BLNR's, LVc, and a classic SS Submariner LN...I also like a blue dial Sky-Dweller - Hmm, looks like I just named off some of the most desirable pieces...

Point is, whether these were dime a dozen or impossible to procure, I would still like them. The design and colors of them are just more appealing than the rest of the options for me.

I guess that's the case for a lot of people as DaytonaC's, BLRO's etc. are nearing the impossible side of the scale (At retail, from an AD).

While I’m sure that has some merit, one cannot deny the hype amplifies the general attractiveness of certain pieces exponentially... nobody liked the Daytona when it was launched, that’s why it’s so valuable today, BLNR was very controversial a few years ago, hype started when supply was cut, look at it now, SkyD is a watch with terrible proportions (impressive tech tho), but hype puts it over the top, etc... even Hulk used to get discounted because green doesn’t go with anything... turns out « rare » green seems to match everything...

[TswaneNguni]

Originally Posted by Nav01L

While I’m sure that has some merit, one cannot deny the hype amplifies the general attractiveness of certain pieces exponentially... nobody liked the Daytona when it was launched, that’s why it’s so valuable today, BLNR was very controversial a few years ago, hype started when supply was cut, look at it now, SkyD is a watch with terrible proportions (impressive tech tho), but hype puts it over the top, etc... even Hulk used to get discounted because green doesn’t go with anything... turns out « rare » green seems to match everything...

Dont agree on the SkyD,love the proportions,I have large wrists as well.