15500 Blue listed for $123k

[DonLee]

Originally Posted by karasus

The more I think about it the more it makes some sense. Nobody needed a massive house in the 2000s but prized status mansions were a thing in the 90s-2000s. Super/hyper cars, wine, whiskey, rum, trading cards and art also followed this trend. In the 2010s it was the ownership of superyachts that was in vogue. Now it is watches.

Houses, cars and yachts total cost of ownership is pretty high and have high recurring costs. Only trading cards, whiskey/rum, art and watches have relatively low to 0 maintenance costs. Out of these four only watches can be used and retain 90%+ of its resale market value. Watches also have the most liquid market out of these relatively illiquid assets. Watches end up being the smart "flex" asset from a financial point of view.

This. It's not cool to have a ginormous house anymore. The flex is about being in certain circles. High end watch VIP lists, celebrity parties, invitation to Ferrari dinners, as well as a big following on instagram.

The fun thing about buying watches is, the more you spend, the more money you are can make. It's crazy. Just a shame for most of the watches are just sat in the safe.

[karasus]

Originally Posted by GreenLantern

Doesn't change the fact that the whole thing is one big joke these days.

I know the feeling. What looked like a moment ago, we could get in a piece we really like and enjoy wearing the watch to death.

2018 I had no problem taking my watches on sporting activities, swimming, mountain climbing, gym, even wore my RO while doing gardening. It was a luxury item but I got to enjoy it day to day.

Today I don't feel that it is reasonable to do gardening with something over 100k. I still wear my watches, but I am much more careful. It takes some of the fun away. Well gardening with a 50k watch was never really reasonable either, but it was the level of decadence I was mentally ok with since it was roughly the value of a car that you drive everyday.

I cannot complain though, my whole watch collection has performed better than my real estate, stocks, and crypto combined.

I see the same trend in real estate, I bought a well located project in my city in 2019 right before the pandemic. Last week my agent called and asked if I wanted to sell to my neighbour who was offering double what I paid. I turned it down because I know that I won't find anything similarly well located, built and designed for the same price and definitely not at the price I paid.

Most other owners in my area who bought in 2019 would not be able to buy the same property two years later since its already out of budget for most. Which I find a bit crazy and silly, but not unexpected as the population density in where I bought is increasing by a rate of 1.6% per year and well located real estate is in very limited quantities, 92% of the city's land is built up with 1 residential unit per 2.2 people. City density is over to 10k per sqm.

[whiterabbit66]

" Houses, cars and yachts total cost of ownership is pretty high and have high recurring costs. Only trading cards, whiskey/rum, art and watches have relatively low to 0 maintenance costs. Out of these four only watches can be used and retain 90%+ of its resale market value. Watches also have the most liquid market out of these relatively illiquid assets. Watches end up being the smart "flex" asset from a financial point of view. "

Also with more and more governments talking about wealth taxes, inheritance taxes, limits on moving money etc this will continue and accelerate. People I know buying were always watch enthusiasts but now they see these benefits as well and this has provided sound justification to buy more. In comparison multiple, cars, homes, yachts etc are becoming a bureaucratic nightmare to own with all the regulations let alone for international folks. A nice watch collection can fit in a safe (or suitcase) and no beholding to multiple declarations, renewals, safety checks, etc........

[redrasky]

Originally Posted by karasus

Things started going a bit crazy end 2019, the 15400st was going up to 20k+ and the 15300ST went 30k+.

2 years later I think the 15400st is 60k and 15300st is 70k.

Yes the theoretical value gain is great, but I also know that if I sell today I'm never going to be able to buy them back at that price.

Oh I get that completely. I wish I hadn’t sold the RO at all; truly loved it, but my reasons at the time are complicated. I never would have guessed things would be where they’re at but if I were to sell it again it would be nice to make four times what I paid as opposed to taking a minor loss.

I know I’m not unique but I’d really love a no-date Sub and a Batman. Maybe one day.