ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
19 May 2022, 08:29 PM | #1 |
2024 Pledge Member
Join Date: Mar 2007
Location: US
Posts: 3,877
|
The stock market made me hit the pause button
I almost pulled the trigger on a 5-digit serial watch a few weeks ago.
Felt it was a decent price. Then the market started to really tank. In reality I don’t keep my watch purchase money in the stock market but with the market tanking and our personal investments or retirement monies taking a bath, doesn’t it cause you to pause before spending multiples over msrp at the grey dealer? I think the AD’s will be fine, they are selling at msrp (I hope), but greys sales volumes must be way off. Perhaps more of us will get a call from our AD to come pick up a watch, perhaps wishful thinking.. Last edited by BillA; 19 May 2022 at 08:30 PM.. Reason: spelling correction |
19 May 2022, 08:58 PM | #2 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Jan 2018
Location: Florida
Watch: Sub, DJ41, GMT
Posts: 8,260
|
The stock market made me hit the pause button
You’re not the only one. I’m sure.
If I get the get the call from an AD, I’m still moving forward, but I see the market falling at least another 15% or more over the next year. It stings. Sent from my iPhone using Tapatalk |
19 May 2022, 09:04 PM | #3 |
Banned
Join Date: Aug 2014
Location: Kentucky
Posts: 2,307
|
Agreed. I have money waiting for the AD call. If it does not come then so be it the money will go towards something else. I am not paying gray prices. They are unrealistic right now and while everyone says they are falling at least at the grays I would trust and buy from, they are not dropping.
|
19 May 2022, 09:09 PM | #4 |
"TRF" Member
Join Date: Oct 2008
Real Name: Rick
Location: Wakanda
Watch: amacallit
Posts: 2,090
|
If your buying decision is based of any financial gains or losses just understand you are really not into watches for a passion. Probably you bought previous watches as a reward or just to get the latest or best etc. Or just as an investment.
__________________
रोलेक्स |
19 May 2022, 09:12 PM | #5 |
2024 SubLV41 Pledge Member
Join Date: Jun 2013
Real Name: Tom
Location: Mandeville La
Watch: 126333
Posts: 10,666
|
There is simply nothing good going on right now in America, economically speaking.
|
19 May 2022, 09:14 PM | #6 |
Banned
Join Date: Apr 2022
Location: UK
Watch: Cant choose!
Posts: 232
|
If my explorer comes along i will still take it, but ive got enough savings to last me 12 months if the brown stuff hits the spinny thing.
It is stopping me from purchasing other brands though..normally id buy 3-4 watches a year, so its slowing me down....not stopping. Tbh though im at that part of my collecting journey where every piece is a very considered purchase so this period of uncertainty is good in that respect because i can take time, reserach and make correct decisions rather than rushing into buying somethign ill regret |
19 May 2022, 09:15 PM | #7 |
2024 SubLV41 Pledge Member
Join Date: Nov 2010
Location: North Carolina
Watch: Rolex/Others
Posts: 47,776
|
The market moves up, the market moves down. Both the stock market and the watch market. In the end everything ends up being more expensive even after the dips. History speaks. I buy what I want, when I want and I decide what price works for me.
|
19 May 2022, 09:15 PM | #8 | |
"TRF" Member
Join Date: Feb 2018
Real Name: Roger Lococco
Location: Asia
Watch: 126719BLRO Pepsi
Posts: 2,980
|
Quote:
Roll eyes … Sent from my iPhone using Tapatalk
__________________
116500 Daytona White Dial 126710BLNR GMT II 126719BLRO Blue Dial Pepsi GMT II |
|
19 May 2022, 09:15 PM | #9 | |
"TRF" Member
Join Date: Oct 2008
Location: Tejas
Watch: Various
Posts: 5,082
|
Quote:
If an AD called me I'd make the deal happen no matter what. However, let's remember these are still mere toys we're talking about. A roof over your head and food on the table takes priority - even if we're looking 30 years down the road. |
|
19 May 2022, 09:16 PM | #10 |
Banned
Join Date: Apr 2022
Location: UK
Watch: Cant choose!
Posts: 232
|
|
19 May 2022, 09:19 PM | #11 |
"TRF" Member
Join Date: Sep 2021
Location: Guess
Posts: 331
|
You don't understand evidently. When a person is planning to make a large purchase such as a car, a home, or an expensive watch and the funds required for the purchase are invested in equities of which their value has plummeted; then it does give pause before withdrawing said funds from one's account. The decision has nothing to do with one's passion for a watch. The decision is purely financial and I understand and agree completely with the OP's logic.
|
19 May 2022, 09:19 PM | #12 | |
Banned
Join Date: Apr 2022
Location: UK
Watch: Cant choose!
Posts: 232
|
Quote:
People can buy watches because they love them, but also do so for financial reasons. Lets be honest, noone likes taking a bath when selling a watch if they have to... ...if your in a financial position where you might have to sell a watch in the short term, its better to take the decision not to buy in the first place. |
|
19 May 2022, 09:21 PM | #13 |
"TRF" Member
Join Date: Dec 2015
Location: U.S. and A.
Watch: it.
Posts: 362
|
I hear you on the stock market - what a bloodbath, and it’s only just begun…
At least you’re not (hopefully) invested in LUNA!!! |
19 May 2022, 09:25 PM | #14 |
Banned
Join Date: Nov 2017
Location: up a hill
Posts: 1,979
|
AIUI, shares/equities/stocks are a long-term investment, not a piggybank to be raided for big-ticket purchases, and the worst thing you can do is sell when the markets are falling.
I'm not an expert, however, and I exited the stock market altogether in Feb '20. |
19 May 2022, 09:27 PM | #15 |
"TRF" Member
Join Date: Oct 2017
Location: East coast
Posts: 6,660
|
My stocks sucked so i sold them and bought more Rolex………watches are better than stocks anyways
|
19 May 2022, 09:34 PM | #16 | |
Banned
Join Date: Aug 2014
Location: Kentucky
Posts: 2,307
|
Quote:
I guess I need my third cup of coffee and work on my reading comprehension module for the day. |
|
19 May 2022, 09:37 PM | #17 |
"TRF" Member
Join Date: Oct 2008
Real Name: Rick
Location: Wakanda
Watch: amacallit
Posts: 2,090
|
If you have to sell stocks to buy a watch its better to buy and enjoy a Seiko 5 which IMO is an amazing watch. I am again saying don't buy watches or multiples if its not your passion. It shouldn't really pinch your financials when getting any luxury item. Ofcourse basics come first. I still would say you really not into watches as a passion but recently many people have been collecting and hoarding watches for the wrong reasons. A normal person earlier could live a life with just one watch or max two watches and now the phone is enough for telling the time.
__________________
रोलेक्स |
19 May 2022, 09:55 PM | #18 | |
"TRF" Member
Join Date: Apr 2008
Location: rolexforums.com
Posts: 5,437
|
Quote:
|
|
19 May 2022, 09:57 PM | #19 |
"TRF" Member
Join Date: Mar 2010
Location: Chicago
Watch: 16750/16800/126710
Posts: 1,426
|
what a ridiculous statement.
|
19 May 2022, 09:58 PM | #20 |
Banned
Join Date: Aug 2014
Location: Kentucky
Posts: 2,307
|
|
19 May 2022, 09:58 PM | #21 |
"TRF" Member
Join Date: Oct 2017
Location: East coast
Posts: 6,660
|
|
19 May 2022, 09:59 PM | #22 |
"TRF" Member
Join Date: Aug 2020
Location: USA
Watch: Explorer I
Posts: 741
|
Wealth effect is real. Even if you got the cash sitting there watching your net worth drop every month with the expectation of more pain to come makes you want to cling to cash.
|
19 May 2022, 09:59 PM | #23 | |
"TRF" Member
Join Date: Sep 2020
Location: UK
Posts: 33
|
Quote:
I don't think I've ever seen someone misinterpret a thread so spectacularly before - well done! |
|
19 May 2022, 10:00 PM | #24 |
"TRF" Member
Join Date: Jul 2018
Location: toRonTo, oN,
Posts: 595
|
hey
|
19 May 2022, 10:00 PM | #25 |
2024 Pledge Member
Join Date: Apr 2018
Real Name: Harry
Location: England
Posts: 10,670
|
I'll buy my next Rolex when my AD tells me it has arrived. My watch collecting has nothing to do with the stock market. If people who for some reason equate stocks to watches drop off AD waiting lists, that's fine by me. The more the better.
|
19 May 2022, 10:05 PM | #26 |
2024 SubLV41 Pledge Member
Join Date: Jul 2013
Real Name: Brian (TBone)
Location: canada
Watch: es make me smile
Posts: 78,091
|
Agree 100% with this line of thinking and is how I’ve always made decisions
|
19 May 2022, 10:06 PM | #27 |
"TRF" Member
Join Date: Jan 2013
Location: USA
Posts: 1,109
|
|
19 May 2022, 10:07 PM | #28 | |
2024 SubLV41 Pledge Member
Join Date: Sep 2020
Real Name: Jackson
Location: USA
Watch: Sub, GMT, Daytona
Posts: 2,640
|
Quote:
This 100%!!! Sent from my iPhone using Tapatalk |
|
19 May 2022, 10:07 PM | #29 | |
"TRF" Member
Join Date: Jul 2018
Location: toRonTo, oN,
Posts: 595
|
hey
Quote:
Rolexes are luxury goods. Why apply the principle of not buying only to the Grays? If your decision to not buy from Grays is cause you are not confident about stock market fluctuations, then it is equally risky to buy from an AD as is to buy from a Gray in that situation. The premium you pay to a Gray is no different from the gas or flight you spend money on to get to an AD. The whole psychology of not buying from Grays makes no sense to me. If its a principle thing, I get it. If its to feel good to buy at MSRP, then you lost. If you have the money to enjoy what you want relatively faster and easier from a Gray than why wait undyingly and uncertainly for a AD, do it. Life is short. There are many Grays in different forms in our modern society and there will be plenty more till the end of time. Grays are here to stay. They bridge a gap in the market. They will NEVER just disappear. A shift can happen where Rolex goes back to "normal" prices or even lower and Grays might stop "winning" but anyone with an understanding of Economic cycles knows a cycle is a cycle. Most people psych themselves up with this whole AD msrp vs gray prices etc. ADs and Grays don't care what you do or think. Your money is your money. The desire to spend during an economic downturn is generally low. But guess what, some people have "I don't care money"...They don't care about an economic downturn or recession. Some don't have that kind of money but take risks knowing the market will go back up. All these decisions are yours to make. Not general decisions. Everyone feels differently about these things. Do what works for you. |
|
19 May 2022, 10:10 PM | #30 |
"TRF" Member
Join Date: Oct 2008
Real Name: Rick
Location: Wakanda
Watch: amacallit
Posts: 2,090
|
Nope , but I do see quite a few who understand my point.
__________________
रोलेक्स |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.