Rolex … Relax… or move on…

[superpop]

The irony of this thread is the fact that so many people are buying Rolex because they think it is a Berkshire Hathaway A Share or that it is never going to drop in value. Buying a very expensive fashion bauble with the idea that it will be money in the bank if things get tough is just ignorant. When times get tough, Rolex values will drop just like everything else.

[EEpro]

Originally Posted by superpop

The irony of this thread is the fact that so many people are buying Rolex because they think it is a Berkshire Hathaway A Share or that it is never going to drop in value. Buying a very expensive fashion bauble with the idea that it will be money in the bank if things get tough is just ignorant. When times get tough, Rolex values will drop just like everything else.

You mean like in a global pandemic with tens of thousands of businesses shuttered by government force ?

From Jan 2020 it appears that white Daytona is beating Buffett.

[TimeAZ]

Originally Posted by Danny83

I wonder when the posts like this will stop too

[Krash]

Originally Posted by EEpro

You mean like in a global pandemic with tens of thousands of businesses shuttered by government force ?

Exactly. It's hard to imagine something more devastating than a global pandemic when it comes to financial markets and global economics. Although never underestimate the ability of elected officials to tear down the economy and burn things down to the ground.

[Fleetlord]

Originally Posted by EEpro

You mean like in a global pandemic with tens of thousands of businesses shuttered by government force ?

From Jan 2020 it appears that white Daytona is beating Buffett.

To be fair, the pandemic had very little negative impact on those who purchase luxury watches...in fact it seemed to accelerate the pursuit of such goods..regardless of the pricing.

The economy is quite different now than it was 13yrs ago...during the last great economic upheaval. Money streaming from channels not even imagined or in their infancy back then. That provides a lot of insulation against downturns.

Individuals can "earn" money many factors above where they would or could have earned just 20yrs ago.

Back then it was lucky for a high school kid to have a job paying above minimum wage in retail...or maybe earn a bit more in a labor job like pool maintenance or lawn care. Maybe be a sponsored skater or surfer..etc

Now they can have multi-million dollar social media empires before they are 18. They can be sponsored competitive video game streamers making millions and having all expenses covered...people I have NEVER heard of...but they are HUGE in their space and get paid handsomely for it. It seems so ridiculous that I think a fair number of forum members are in denial over it...but it's happening and it affects the luxury market quite substantially.

It's different now. More money than ever and that money wants ROLEX. We just have to accept it..the hobby isn't ours alone anymore.

[EEpro]

Originally Posted by Fleetlord

To be fair, the pandemic had very little negative impact on those who purchase luxury watches...in fact it seemed to accelerate the pursuit of such goods..regardless of the pricing.

The economy is quite different now than it was 13yrs ago...during the last great economic upheaval. Money streaming from channels not even imagined or in their infancy back then. That provides a lot of insulation against downturns.

Individuals can "earn" money many factors above where they would or could have earned just 20yrs ago.

Back then it was lucky for a high school kid to have a job paying above minimum wage in retail...or maybe earn a bit more in a labor job like pool maintenance or lawn care. Maybe be a sponsored skater or surfer..etc

Now they can have multi-million dollar social media empires before they are 18. They can be sponsored competitive video game streamers making millions and having all expenses covered...people I have NEVER heard of...but they are HUGE in their space and get paid handsomely for it. It seems so ridiculous that I think a fair number of forum members are in denial over it...but it's happening and it affects the luxury market quite substantially.

It's different now. More money than ever and that money wants ROLEX. We just have to accept it..the hobby isn't ours alone anymore.

Yep. I know. I was there

So what would have to occur for @superpop doom and gloom to come true. Something worse I guess. Alien attack. Nuclear war. Etc

It sure as hell seemed like Rolex was a good place to park my money when the market was dropping 9% a day and people were on here crying about their stock portfolios. Sure all that came back but it still didn't outperform Daytonas over the same period.

[MoQa BianQa]

This kind of post should stop too, so much wrong information and bad advice. Rolex is not an exclusive brand, anyone with cash can walk in and get one.
Sure there are harder to obtain models due to limited production but it is not here to stay, hype comes and goes and it is in Rolex's interest to meet demand.
If people want a particular Rolex, it's just bad advice to tell them to settle for an Omega, better to keep searching or save up for grey than to settle for less.
VIP is just a sales concept to get customers to stay loyal and spend more than they need, clearly OP fell for it.

[Das]

Originally Posted by MoQa BianQa

This kind of post should stop too, so much wrong information and bad advice. Rolex is not an exclusive brand, anyone with cash can walk in and get one.
Sure there are harder to obtain models due to limited production but it is not here to stay, hype comes and goes and it is in Rolex's interest to meet demand.
If people want a particular Rolex, it's just bad advice to tell them to settle for an Omega, better to keep searching or save up for grey than to settle for less.
VIP is just a sales concept to get customers to stay loyal and spend more than they need, clearly OP fell for it.

Spot on

[Toms]

Originally Posted by Fleetlord

I'm not sure why a Non-Wis in this case would go out and buy an Omega or other.

They don't want a "watch". They want ROLEX.

As for the WIS, there are some who get frustrated and have to satisfy their fix with another brand, but it ultimately comes back to Rolex, so buying other brands, especially those with lousy resale, is a waste of money.

I've read several of your posts on the current state of things, and you've got it figured out.

[Harry-57]

Originally Posted by Fleetlord

buying other brands, especially those with lousy resale, is a waste of money.

If you are saying don't settle, then yes, I couldn't agree more.

More generally, buying anything you don't really want is a waste of money, even if it's a hot Rolex model. Buying anything you want and will treasure and love owing for years to come is not a waste of money, regardless of its monetary worth.

[JSCP]

Originally Posted by MoQa BianQa

This kind of post should stop too, so much wrong information and bad advice. Rolex is not an exclusive brand, anyone with cash can walk in and get one.
Sure there are harder to obtain models due to limited production but it is not here to stay, hype comes and goes and it is in Rolex's interest to meet demand.
If people want a particular Rolex, it's just bad advice to tell them to settle for an Omega, better to keep searching or save up for grey than to settle for less.
VIP is just a sales concept to get customers to stay loyal and spend more than they need, clearly OP fell for it.

It’s ok if you disagree. But I have been fortunate to get what I want with not much wait, but that’s not the case for most. Omegas are fine in a few models, and it’s a good place holder if you want a good watch while one “waits” to get a Rolex. That’s all.

No one calls me a VIP at my AD, is a term here that I have seen for people that get offered time pieces that are difficult to obtain from AD’s. Searching is fine, finding is another thing at AD, grey has everything and it’s just a bit more, and if you have it and want it know, then go for it.

In the meantime, enjoy what you can have, relax, they are just watches.

[Son Goku]

Originally Posted by Fleetlord

To be fair, the pandemic had very little negative impact on those who purchase luxury watches...in fact it seemed to accelerate the pursuit of such goods..regardless of the pricing.

The economy is quite different now than it was 13yrs ago...during the last great economic upheaval. Money streaming from channels not even imagined or in their infancy back then. That provides a lot of insulation against downturns.

Individuals can "earn" money many factors above where they would or could have earned just 20yrs ago.

Back then it was lucky for a high school kid to have a job paying above minimum wage in retail...or maybe earn a bit more in a labor job like pool maintenance or lawn care. Maybe be a sponsored skater or surfer..etc

Now they can have multi-million dollar social media empires before they are 18. They can be sponsored competitive video game streamers making millions and having all expenses covered...people I have NEVER heard of...but they are HUGE in their space and get paid handsomely for it. It seems so ridiculous that I think a fair number of forum members are in denial over it...but it's happening and it affects the luxury market quite substantially.

It's different now. More money than ever and that money wants ROLEX. We just have to accept it..the hobby isn't ours alone anymore.

The one caveat I would add to this is that the pandemic was unique in that travel was restricted. So it isn’t unfeasible to conjecture that many who weren’t economically impacted diverted funds into luxury goods e.g. Rolexes instead of saving and spending on tourism. There was also the unprecedented rebound in financial and crypto markets that occurred during the pandemic, which also surely further added to the rise in demand for luxury goods. It will be interesting to see if demand will persist at its current level once the world returns to a normal state and lockdowns and travel restrictions are lifted.