True collectors and the tanking Rolex market

[Calatrava r]

A frequent question on the forum is who actually buys used watches at 3x retail? I doubt the folks who pay these prices are concerned about losing a little money. High-end custom-made suits are now 20K, all that money is forever gone. Classy restaurant meals for two are easily 2K many places with wine. People are paying 25K and much more market adjustments to buy sports cars. These folks simply pay to play, and they can easily afford it. I doubt they are in it for the investment angle. I would not worry about anybody getting hurt if the market for everything softens. Nothing goes up forever. Everything corrects. If you think you got hurt paying a premium, you did not understand the cyclical nature of life, the nature of luxury goods demand and probably could not afford the item in the first place.