Could Rolex prices come over all Bitcoin?

[LouG]

I imagine there are two kinds of Rolex buyers. There's (A) the buyer who pays with recurring income (let's call this buyer the "Lebron James" example) and (B) the buyer who pays with capital appreciation (let's call this buyer the "I make $50k-$100k per year but I made a fortune on paper in crypto" example).

Buyer (A) isn't going to lose sleep if their crypto or traditional investment account falls in value. They are most likely so well diversified and their recurring income is more than sufficient to cover their living needs, including new car or Rolex purchases.

Meanwhile, buyer (B) is quietly screaming inside as their investment portfolio is down 7%-10% in three weeks, and their crypto wallet is down 23% in the same period. Their job is getting a little more stressful, their health insurance premium just went up and if they have kids, forget it. This buyer may start to ask themselves if they need that second Rolex, or if they need the first one at all, and they may look to get out before their Rolex "investment' starts to take on water.

I certainly wouldn't expect a stock market or crypto correction to adversely affect the AD's business, but I have a hard time believing the grey market won't be adversely affected in some way for some period of time.

[SDGT3]

Originally Posted by rolexpure

The only asset beating Rolex watches is Real Estate.

Nothing can compete with that monster. $50k per week some places are rising at.

Real estate's turn is coming and is without a doubt another bubble asset... as the Fed stops buying bonds and raises rates for the next 3 years (at least), you'll have those that can't sell their RE because the buyers don't qualify as they once did. Unlike Rollies, RE is a leverage game and those over exposed will be the first ones to a forced sell. The difference between now and 2008 is that "most" opted for the fixed rather than adjustable mortgages.

[Duey]

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

[SDGT3]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

You forgot NFT's...

[Duey]

Originally Posted by SDGT3

You forgot NFT's...

So true

[LouG]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

Agreed. But at what price? Is a Rolex a real asset at the retail cost or the (debatable) "market value" grey price?

And what is this "market value"? It's simply that - the amount for which something can be sold on a given market at a given time. I don't understand why some conclude that other markets can fluctuate yet deem Rolex grey market values as un-killable.

[ALF61]

Originally Posted by marmite2005

With Rolex mania in full swing over the past 4 years, could the tide the turn as quickly as Crypto price mania?

One minute bitcoin is going to 100k, next minute its falling and cant hold 40k, 38, 36k......with everyone selling.

Could the new money drain from watches as quick, no one needs a watch, everyone has a smart phone. As soon as the market understands that, surely the inflated prices could collapse? Good news for WIS

No. Rolex is tangible. You want one? Get in line and come up with every penny. Rolex watches are not leveraged and are the modern Gold store of value.

[Bruse Wayne]

Originally Posted by Tim Plains

Crypto is literally nothing.

at current $1.6T USD market cap the industry is worth more than Amazon, Silver, Tesla, Meta / Facebook , and Berkshire....

probably nothing....

[TswaneNguni]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

Maybe the world is becoming stupider by the day ...

Somethings gotta give ..time to have a few gold coins under the bed.

[krubs]

On one hand, yes Rolex are real and physical. The problem is that they still make them. There will always be an increasing supply. Unless it's a discontinued model.

With Bitcoin, there will only ever be 21 million. It's no more of a "fake" asset than buying stock in a company through a broker. Bitcoin exists on the blockchain. It's not fake or make believe. Some of you sound like boomers lol

[Rolexatlast]

Originally Posted by huncho

yeah agreed. the only way i can see these watches going back to msrp or discounts is if we have another 2008. i don't think anyone wants that to happen again. best case let some kind of correction happen and let daytonas go back to like 25-30k and move on. it's much better for people to have the money to spend on premiums than be out of work and having fire sales on assets

I seem to remember that the real world economy didn’t really tank until around 2010 - 2011, a few years after Enron. So maybe the post COVID crash is not quite due yet.

But I agree that it all depends on whether the central banks keep printing money to pump into assets prices

[DadFuelBBQ]

The amount of disdain in here for crypto excites me, we are still early!

[jaychief]

Just saw these….


Sent from my iPhone using Tapatalk

[Golfbone]

The difference between watches and Bitcoin is that a Rolex is something we physically can wear and want. To own, to put on, to be seen with and to enjoy. Bitcoin is just a financial concept....not a toy that brings out your inner child like a Daytona or Sky dweller. You wanna make your wife happy? Give her a Tiffany OP 36mm. A Bitcoin? Feh.

[malba2366]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

Rolex at MSRP is a real asset. Rolex at inflated grey prices is no different than Crypto or NFTs - in all these cases the asset is only worth what the next guy is willing to pay which is a recipe for an eventual severe drop in price.

[omar10213245]

Originally Posted by Hollie_Rollie

My AD required that I pay cash only for my Pepsi and Kermit. I’m not sure many ADs are allowing people to put their hot ticket items on credit


Now if you bought at grey prices on a credit card …we’ll you’re a double fool 1) for paying above msrp and 2) for putting it on CC (unless you’re the rare unicorn who responsibly pays off at months end in full)


Sent from my iPhone using Tapatalk

My AD only allows paying via credit card or cashier's check from a bank. They have a strict "no cash" policy

[Duey]

Originally Posted by krubs

On one hand, yes Rolex are real and physical. The problem is that they still make them. There will always be an increasing supply. Unless it's a discontinued model.

With Bitcoin, there will only ever be 21 million. It's no more of a "fake" asset than buying stock in a company through a broker. Bitcoin exists on the blockchain. It's not fake or make believe. Some of you sound like boomers lol

The Blockchain is based on mathematics , aka mathematical equations. The blockchain it's self is not a real asset, no matter how many people tell you it is.
It is exactly the definition of a fake asset. The fact that someone will pay money for it does not make it real.

Look up "real" in the dictionary - actually existing : not imaginary : not fake, false, or artificial

It's all Make Believe - It's not real in any way shape or form !!


A Rolex is real in every way shape and form there for as an asset it has a value.

[Moondoggy]

Crypto and NFT’s really are made up by clever people who missed the real estate game. I like dirt even when your mining or digging or scratching away in search for something that doesn’t exist you are on dirt.

[WatchesNBlondes]

Doubt we'll see much of a correction in terms of Rolex prices. Plus maybe dealers will just sit on supply a bit.

[malba2366]

Originally Posted by WatchesNBlondes

Doubt we'll see much of a correction in terms of Rolex prices. Plus maybe dealers will just sit on supply a bit.

Once it starts going down it will tank...there are a lot of small time flippers and speculators who will bail the second things start to turn downwards. The big grey sellers will be the first to see a downturn and they will exit to manage their losses, most businesses fund inventory with credit and those rates are going up so they won't want to sit on inventory for extended periods of time.

[bmrk]

Short answer is No

[enjoythemusic]

Originally Posted by the dark knight

Nobody wants to be the sucker that buys for $20k if it's going to be $18k the next week.

What about next week, in month, in a year after that? You sound like a day trader there, which is OK I guess. Your call.

Originally Posted by Wee-Willie

Sorry, but the Federal Reserve does not print money...The Bureau of Engraving & Printing does. It is the duty of the Fed to "Release" the money into circulation at the direction of the Board of Governors of the Federal Reserve System. The Fed is separate from the federal government...or is intended to be.

I was the US Treasury Agent-in-Charge of Fiscal Operations assigned to the Federal Reserve Bank of Philadelphia...C-3.

Well said. May I ask, when the Fed electronically added a few trillion recently, what did it 'cost' to do so versus the Bureau of Engraving & Printing releasing the same quantity of physical notes (akin to what was done by the pallet load for Iraqistan)? When I spoke with Edmund Moy years ago it was about 4 Cents to make each paper Debt Note regardless of face value, whereas the cost to electronically release a few trillion by the Fed is ???

[LA-RealEstateAgent]

Originally Posted by malba2366

Once it starts going down it will tank...there are a lot of small time flippers and speculators who will bail the second things start to turn downwards. The big grey sellers will be the first to see a downturn and they will exit to manage their losses, most businesses fund inventory with credit and those rates are going up so they won't want to sit on inventory for extended periods of time.

There are a lot of small time flippers, maybe. There are a lot more collectors with incredible amounts of cash. "small flippers" are a small part of the market.

[nikhsub1]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

You sound like the people that said the 'internet' was just a fad too and will die. If you look at the history of bitcoin, it always does what it is doing right now. People said it would go to zero at $1k, $5k, $10k, $20k, $30k etc etc etc. Crypto is the future, believe it and like it or not. Bitcoin will be over $70k before you know it - and I'll bump this thread when it does.

[enjoythemusic]

Originally Posted by nikhsub1

You sound like the people that said the 'internet' was just a fad too and will die. If you look at the history of bitcoin, it always does what it is doing right now. People said it would go to zero at $1k, $5k, $10k, $20k, $30k etc etc etc. Crypto is the future, believe it and like it or not. Bitcoin will be over $70k before you know it - and I'll bump this thread when it does.

I'm 100% cool some don't get it. Not my problem. It's actually better this way, as it helps to moderate growth. Last week I had a wonderful conversation about money, currency, and... with someone who deals for many decades in such things. He was in his mid-60s.

Remember waaay back when people invested in McDonalds because they could see true growth while they also knowing their investment supported good jobs for American families. Possible growth and multiple on the stock back then was ____ versus growth possibility today yet trading at a multiple of _____. C'mon classic investors, fill in the blanks for me and explain why the multiple difference makes mathematical sense.

[ce027772]

Originally Posted by nikhsub1

You sound like the people that said the 'internet' was just a fad too and will die. If you look at the history of bitcoin, it always does what it is doing right now. People said it would go to zero at $1k, $5k, $10k, $20k, $30k etc etc etc. Crypto is the future, believe it and like it or not. Bitcoin will be over $70k before you know it - and I'll bump this thread when it does.

If crypto is the future, it's not going to be limited to bitcoin. There is nothing unique about bitcoin. It's just one digital product of crypto technology. There can be millions more applications of the same technology. If Rolex was that easily replicated, it would not be worth anything.

[nikhsub1]

Originally Posted by ce027772

If crypto is the future, it's not going to be limited to bitcoin. There is nothing unique about bitcoin. It's just one digital product of crypto technology. There can be millions more applications of the same technology. If Rolex was that easily replicated, it would not be worth anything.

Agreed but it was the first - maybe it is like the AOL of crypto? Time will tell I guess.

[ce027772]

Originally Posted by nikhsub1

Agreed but it was the first - maybe it is like the AOL of crypto? Time will tell I guess.

First-mover advantage is a big thing, but it does not guarantee success for an indefinite period of time. When there are other products of the same technology that are equally good, why would you buy the most expensive one? Also, any technology evolves. I am not a tech person, but it's obvious that there will be others who will compete with Bitcoin, including governments with digital currencies.

[enjoythemusic]

I think the Russian Ruble could become the world's most gold-backed central bank currency in the world. Could become... there are so many dynamics at play right now.

Must say it is quite entertaining, so we have the Circus part in full effect. Got bread?

[Sandpit]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

Only putting value to something you can hold in your hand is a bit of a backward way of thinking.

Most of my money is in the stock market. I can never get my hands on that. Is that make believe?

Most of the money in existence today has been made out of thin air. Is that still a “real asset” if something can just be made up?

People just like to trash crypto because they don’t understand it. And the comments by many here prove that.