DAVIDSW running out of Daytona to sell

[Onequik135i]

OC Rolex Guy here on TRF just listed a 2020 ceramic LN in new condition for $36895 that lasted a few hours it looks.

[telesquire]

Chrono is nonsense, most Daytonas never get on there.

[rlx123]

Originally Posted by kohuti02

One's gotta respect when a man tries to put a bread on the table for his family though

It’s more like him putting another prancing horse in his garage.


Sent from my iPhone using Tapatalk

[Deppe]

Originally Posted by 4rnold

And now my answer to your question:

Why do I think that this is not a normal market: the explanation you give yourself is a basic answer, that completely misses the deeper understanding of the economy. We should first define a normal market, but for the argument's sake, let's say that you see the prices on the grey market are what the watches are worth, and I say they are not. I know what you think now, you will say: if people pay this, it's worth it. Again, too simple. In a market that has grown in a healthy way, I would say you are right, but the prices have risen tremendous in 3 years. If you see how long Rolex exists, this is out of proportion.

My idea is this: the prices on the grey market have gone trough the roof, I suppose we can agree on that? why? because the demand has gone way up and supply stayed (more or less the same). Now we have to look if the demand is justified.
As Rolex is a luxury product, it does not have the same intrinsic value as for example, food, real estate,... so when people overpay (and from here on its speculation) they do it for the wrong reasons, mostly because it's a status symbol.
My proof for it is that one moment a steel watch was more worth than a watch with gold. That is just a agreement between people. Now I do agree that a watch is a real thing, and it has intrinsic value. To a certain level. And that level is (more or less) the retail price. And that is acceptable. But now we created a bubble, by pushing the price to the sky, artificially.
Mostly because there is a growing number of people wanting it as a status symbol. So if a 'mass produced' product, with an intrinsic value lower (or equal) than the retail price is sold for 3times it's price on the grey market. I think we are dealing with an artificial high price. Wich is in my opinion strange. So does the price of bitcoin appears strange to my.

And with the same reasoning I think that for example stocks from a decent company that grew steadily over the years, that price is more a real indicator of the intrinsic value of that company than a some unknown company whose stocks skyrocket in a few hours (however this is no certainty)
So in my opinion, the price is artificially high, but will it be corrected? That is hard to say

I can follow your thinking but I do not agree on a number of points.

1. You mention that a watch does not have the same intrinsic value as food or real estate and that we should look at the intrinsic value to see if something is overpriced or not (or that is how I read your comment).
With this in mind, how do we explain the rise in real estate prices? A lot of places people have simply been priced out the last couple of years - mainly in larger cities. So how do we come to the conclusion that real estate have more intrinsic value than a watch? I know - real estate if often housing which provides a utility. But does that explain that the exact some house/apartment at the exact same location how risen substantially over the last number of years? Or is this also a bubble? And how do we find the correct intrinsic value for real estate since this do not have a retail price? And that leads me to my next point.

2. You mention that the intrinsic value of a mass produced product should be more or less its retail price. Am I to understand this as if Rolex raised the price of a Daytona tomorrow to current market prices, then you would agree that this would be the intrinsic value of the watch? I cannot say what the correct intrinsic value is, but binding it up to retail price seems arbitrary, and as a not well thought out argument. For one because the retail price might differ depending on the companies strategy - eg. do they have low margins but high volumes, or do they have smaller volumes but higher margins? Second because the company can raise prices as they please.

3. You think that the price of stocks from a decent company that grew steadily over the years, is more a real indicator of the intrinsic value of that company. Maybe/maybe not. The problem with that is that you use the past to predict the present. Simplified, the current value of a stock should be the present value of the companies future cash flows instead of the company's results in the past.
Imagine seeing Kodak around 2008/2009 and thinking "Wow, this company has a really solid past with solid results" - by thinking that way you would ignore the implications that the surge in mobile camera phones would have on the company's business model and future profits.

[Tensai]

The members who always posted about their crytpo profits are strangely silent this past week. Hmmmmm...

[1665fan]

Originally Posted by Tensai

The members who always posted about their crytpo profits are strangely silent this past week. Hmmmmm...

Sold all my shi*coin and bought Cryptona!!!!!!! To the moon!!!!

[Screwly]

Originally Posted by Tensai

The members who always posted about their crytpo profits are strangely silent this past week. Hmmmmm...

I’m excited! It’s time to load up on more!

[joejet]

Originally Posted by rlx123

It’s more like him putting another prancing horse in his garage.


Sent from my iPhone using Tapatalk

David drives a Mclaren.

[bob sims]

Originally Posted by Tensai

The members who always posted about their crytpo profits are strangely silent this past week. Hmmmmm...

What's happened to crypto?
I don't pay attention. I figure when it crashes I will see it on mainstream news.
Fools and their money are usually parted eventually.

[TswaneNguni]

Originally Posted by 1665fan

Sold all my shi*coin and bought Cryptona!!!!!!! To the moon!!!!

......Mars !!!

[bmrk]

Never thought that day would come

[lava flow]

Originally Posted by padi56

Well what do you expect now when Rolex watches are nothing more than £££$$€€ objects and nothing more.

in reality that is all they are

i mean who in hell started that Rolex are for enthusiasts with no regards to market value retention?

they are watches pure and simple - ie jewellery nothing more or less

pay if you want one if not walk away - your choice

i have five inc new Daytona and Hulk - and yes, they were bought at RRP from an AD but they are most certainly investments that i can wear whilst they appreciate in value - win win scenario

[TswaneNguni]

Bitcoins at a high converted to current market on Daytona ,seems like a bargain .

[Henrimontgomery]

Please bitcoin disappear and finally end this waste of energy and stop creating annoying crypto millionaires.

[ALF61]

Just checked his only Panda at almost 49K and not even a New or Unworn. Even the black dial is crazy price at 43K.