Could Rolex prices come over all Bitcoin?

[illiguy]

Rolex is tangible. It has stood the test of time and is hotter than ever. Not a good comp.

[YGRLX]

It won’t drop. Too many new people to the game with deep pockets wanted a 50+ timepiece collection. Trust me, Anthony Davis and Lebron James aren’t concerned about where Bitcoin is.

It’s actually a really nice asset class to own, one that you can wear and enjoy!

[mobster600]

The fed is going to slow down asset purchases and slowly raise the FFR. Inflation is running hot and the fed is going to step in. Less cash in the economy will have implications.

A lot of people buy Rolex's for investment purposes......as what literally half the threads are here.

What happens if those watches don't keep going up in value? Not worth holding onto = sell the watch.

[horseco]

Originally Posted by tim plains

crypto is literally nothing.

amen !!!

[DRS Enabled]

Originally Posted by the dark knight

The thing I am reasonably confident on is IF the tide turns, it's going to be violent on the way down. These are completely unnecessary discretionary items. Once the price starts falling, everyone is going to sit on the sidelines and watch to see if it falls more. Nobody wants to be the sucker that buys for $20k if it's going to be $18k the next week.

The exact opposite is true. You can't panic sell your Rolex the way you can panic sell Bitcoin or your Tesla stock. The bid/ask spread is at least 10-15% and takes some leg work to sell a watch vs. hitting a button on your browser.

Not only that, but very few, if any people buy a watch with debt (and if you do, you are an idiot). You can't default on your watch loan the way you could on a mortgage and get foreclosed and lead to forced selling.

For both of these reasons, a violent down move in the price is quite difficult to foresee.

[RBradleigh]

Originally Posted by DRS Enabled

The exact opposite is true. You can't panic sell your Rolex the way you can panic sell Bitcoin or your Tesla stock. The bid/ask spread is at least 10-15% and takes some leg work to sell a watch vs. hitting a button on your browser.

Not only that, but very few, if any people buy a watch with debt (and if you do, you are an idiot). You can't default on your watch loan the way you could on a mortgage and get foreclosed and lead to forced selling.

For both of these reasons, a violent down move in the price is quite difficult to foresee.

Wait what? You don’t think there’s plenty of people out their buying watches on 18% credit cards?

You’re absolutely kidding yourself


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[Anton911]

Supply and demand will still prevail.More people want Rolex than there is on supply.Bitcoin is invisible,Rolex is a hard asset that can be worn and a store of physical value.

[Hollie_Rollie]

Originally Posted by DRS Enabled

Short answer, no.

Bitcoin fell from a peak of $66k last November to $38k as of Friday. The NASDAQ is also down 13% over that same period.

Daytona prices during that time went from ~$37k to ~$47k.

Pepsi prices during that time went from ~$23k to ~$29k.

It is actually quite amazing the outperformance of the watch market vs. other assets during this time. Only fundamental development that has happened is Rolex raising MSRP marginally, but it doesn't explain this massive move. I don't really have an explanation for it other than "supply/demand".

It is quite amazing …

It’s almost….to good to be true…


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[Hollie_Rollie]

Originally Posted by RBradleigh

Wait what? You don’t think there’s plenty of people out their buying watches on 18% credit cards?

You’re absolutely kidding yourself


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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)


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[JodyHighroller]

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)


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I’ve been to countless ADs here domestically and internationally (visited my 80th country last month), and all prefer credit card instead of cash due to paperwork hassle. Even the ADs in Cairo preferred credit card. Card is the ideal choice for payment nowadays.

I put all my transactions on credit cards (pay in full end of each month) and leverage the points I earn for first class/business international flights that would normally cost five figures or more. Gotta know how to leverage the system and use it in your favor otherwise you leave money on the table.

[Hollie_Rollie]

Originally Posted by JodyHighroller

I’ve been to countless ADs here domestically and internationally (visited my 80th country last month), and all prefer credit card instead of cash due to paperwork hassle. Even the ADs in Cairo preferred credit card. Card is the ideal choice for payment nowadays.

I put all my transactions on credit cards (pay in full end of each month) and leverage the points I earn for first class/business international flights that would normally five figures or more. Gotta know how to leverage the system and use it in your favor. You leave money on the table otherwise.

That’s Cool. My AD is in the United States, maybe that provides some better context.

And that’s great, statistically not many have your discipline


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[DRS Enabled]

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)


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My AD accepts credit, but anyone who is getting allocated a Rolex at an AD I am assuming can comfortably pay for a Rolex

Greys will almost never accept credit card...

So I think it is a very small minority who are buying Rolexes on credit

And not to get too deep into the weeds, but a mortgage or a car loan is a secured debt. People will take your house/car from you if you default on the loan. Credit card debt is unsecured. They can't physically reclaim a Rolex or a Vitamix or a 75 inch TV if you default on a credit card loan. Again, less forced selling.

[Hollie_Rollie]

Originally Posted by DRS Enabled

My AD accepts credit, but anyone who is getting allocated a Rolex at an AD I am assuming can comfortably pay for a Rolex

Greys will almost never accept credit card...

So I think it is a very small minority who are buying Rolexes on credit

And not to get too deep into the weeds, but a mortgage or a car loan is a secured debt. People will take your house/car from you if you default on the loan. Credit card debt is unsecured. They can't physically reclaim a Rolex or a Vitamix or a 75 inch TV if you default on a credit card loan. Again, less forced selling.

Gotcha. I never bought from a grey so I have 0 knowledge of what forms of payment they accept.

I assumed the AD cash policy for hot items was standard practice. It makes sense, when you pay credit the business accepting the CC gets hit with fees. Why should they get hit with a fee when they have 100s of people willing to hand over cash …


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[JodyHighroller]

Originally Posted by Hollie_Rollie

Gotcha. I never bought from a grey so I have 0 knowledge of what forms of payment they accept.

I assumed the AD cash policy for hot items was standard practice. It makes sense, when you pay credit the business accepting the CC gets hit with fees. Why should they get hit with a fee when they have 100s of people willing to hand over cash …


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Speaking of fees, you may come across some ADs who don’t accept Amex. Reason being, Amex fees are higher because they’re the card network and also the issuing bank.

Visa and MasterCard simply are the card networks and they partner with banks who issue the cards. This helps reduce the Visa/MasterCard network fees when compared to Amex.

[DRS Enabled]

Originally Posted by Hollie_Rollie

Gotcha. I never bought from a grey so I have 0 knowledge of what forms of payment they accept.

I assumed the AD cash policy for hot items was standard practice. It makes sense, when you pay credit the business accepting the CC gets hit with fees. Why should they get hit with a fee when they have 100s of people willing to hand over cash …


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I meant to respond to the other guy haha, sorry for tagging you instead. My overall view is that very few people are 'stretching' via debt to buy Rolexes.

[Moondoggy]

I just think of the greys who have been accepting crpto for watches over the last few months, that $40k Daytona they sold they have in fact sold it for say $25k.

[huncho]

Originally Posted by Moondoggy

I just think of the greys who have been accepting crpto for watches over the last few months, that $40k Daytona they sold they have in fact sold it for say $25k.

what about the 30k daytonas they were selling that became 50k or more last year? we don't know if they hold all profits or sell at specific % gains. they might look dumb now but they might look smart later, you never know. it has had constant 50% drops and always recovered. i'm sure they're not doing anything that would be reckless in the short term because everything moves so ridiculously fast in this business. i also don't think most actually store a % of that for the long term, pretty sure most just convert it back to fiat and sell it. i know crm say they keep a % of the crypto they receive but otherwise haven't heard of others that do it. they also gamble on hoarding rolexes on discontinuation rumors in which they could easily lose 10-20%

[ce027772]

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.

How does the Federal Reserve purchase assets that are currently on its balance sheet? Nearly 9 trillion dollars of assets as of January 19 - https://www.federalreserve.gov/monet...centtrends.htm

[Moondoggy]

Originally Posted by huncho

what about the 30k daytonas they were selling that became 50k or more last year? we don't know if they hold all profits or sell at specific % gains. they might look dumb now but they might look smart later, you never know. it has had constant 50% drops and always recovered. i'm sure they're not doing anything that would be reckless in the short term because everything moves so ridiculously fast in this business. i also don't think most actually store a % of that for the long term, pretty sure most just convert it back to fiat and sell it. i know crm say they keep a % of the crypto they receive but otherwise haven't heard of others that do it. they also gamble on hoarding rolexes on discontinuation rumors in which they could easily lose 10-20%

lots of variables going on here, I mean traditionally crpto is an investment and cash is well it is cash, so they sell for 30k and receive crpto, the watch goes to 50k, crpto tanks 50%, 35k in the air, I know they aren't that stupid.

They get lots of hate, but man they are dealing with so many speculative variables that can tank very quickly. Power to them.

[rambo99]

Originally Posted by Bmats

I think it’s too soon for watches to go down. Many people in various markets or with excess cash that won’t be there if the markets do crash probably don’t think it will (and maybe it wont). The smart money always leaves first and those in watches as investments or as forever going up assets (rather than just luxury items) definitely aren’t the smart money. I’m hoping 2022 so far is just a blip because I don’t think people understand the pain that will exist if it all crashes. That Daytona being available at MSRP doesn’t mean you’ll want to spend that money if it’s 08 or the late 90s again (or the many other times).

ss daytona available at msrp? I would buy it in a heart beat.

[rolexpure]

The only asset beating Rolex watches is Real Estate.

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

[Podmornica]

Originally Posted by Moondoggy

I just think of the greys who have been accepting crpto for watches over the last few months, that $40k Daytona they sold they have in fact sold it for say $25k.

You are wrong. Almost all of the sellers (if not investing in crypto by themselves) were only accepting crypto as a favor for buyers. They would instantly cash it out or convert it to USDT (stable coin) .. Even Peter Marco explained this in one of his vlogs - he has a guy who provides him with cash after he has accepted crypto as a payment from other buyers.

[rolexpure]

Originally Posted by Podmornica

You are wrong. Almost all of the sellers (if not investing in crypto by themselves) were only accepting crypto as a favor for buyers. They would instantly cash it out or convert it to USDT (stable coin) .. Even Peter Marco explained this in one of his vlogs - he has a guy who provides him with cash after he has accepted crypto as a payment from other buyers.

10000000% correct.

There is NO gray dealer that keeps their crypto after accepting it as a payment method. They will transfer it directly into Fiat currency immediately that is why when you buy with crypto that price is given a finite time period in which you need to pay. You cant agree on a crypto transaction and pay 2-3 days later. Doesnt work like that.

[Moondoggy]

Originally Posted by rolexpure

10000000% correct.

There is NO gray dealer that keeps their crypto after accepting it as a payment method. They will transfer it directly into Fiat currency immediately that is why when you buy with crypto that price is given a finite time period in which you need to pay. You cant agree on a crypto transaction and pay 2-3 days later. Doesnt work like that.

grey dealer. Big call, I know of two, I understand they opened to crypto as they currently represent the quintessential customer, however the brave still hold depending on sale terms.

Whether personal or not I cannot attest to that.

[rolexpure]

Originally Posted by Moondoggy

grey dealer. Big call, I know of two, I understand they opened to crypto as they currently represent the quintessential customer, however the brave still hold depending on sale terms.

Whether personal or not I cannot attest to that.

If any gray dealer is holding onto crypto after the sale its because of their personal gamble they want to take with the markets just like playing shares.

In terms of a transaction perspective every business repeat EVERY business is in the game to take advantage of crypto millionaires to let them pay for it in crypto and transfer immediately to fiat - its just another transactional medium used to bank the cash. This is why most only accept USDT or other stable coins linked to the US Dollar.

The ones that accept Eth/Bitcoin are not waiting and holding these coins and crossing their fingers to moon waiting for lambo time. LOL

I also accept crypto for my business. This is how we all do it and 90%+ will use a broker to do it as well - its not like they transfer the crypto into my personal wallet. No - thats not how it works.

[Moondoggy]

Originally Posted by rolexpure

If any gray dealer is holding onto crypto after the sale its because of their personal gamble they want to take with the markets just like playing shares.

In terms of a transaction perspective every business repeat EVERY business is in the game to take advantage of crypto millionaires to let them pay for it in crypto and transfer immediately to fiat - its just another transactional medium used to bank the cash. This is why most only accept USDT or other stable coins linked to the US Dollar.

The ones that accept Eth/Bitcoin are not waiting and holding these coins and crossing their fingers to moon waiting for lambo time. LOL

I also accept crypto for my business. This is how we all do it and 90%+ will use a broker to do it as well - its not like they transfer the crypto into my personal wallet. No - thats not how it works.

It is working out for you. ‘Stable coins linked to the US dollar”. I smell a rat.

[ree7]

Simple. The higher the leverage. The bigger the crash.
Now if people started taking second mortgage to 'invest' in Rolex, that'll be a sign.

[77T]

Originally Posted by rolexpure

If any gray dealer is holding onto crypto after the sale its because of their personal gamble they want to take with the markets just like playing shares.

In terms of a transaction perspective every business repeat EVERY business is in the game to take advantage of crypto millionaires to let them pay for it in crypto and transfer immediately to fiat - its just another transactional medium used to bank the cash. This is why most only accept USDT or other stable coins linked to the US Dollar.

The ones that accept Eth/Bitcoin are not waiting and holding these coins and crossing their fingers to moon waiting for lambo time. LOL

I also accept crypto for my business. This is how we all do it and 90%+ will use a broker to do it as well - its not like they transfer the crypto into my personal wallet. No - thats not how it works.

It is interesting to note: despite some US dealers moving to accept crypto - none that I know are moving to accept DJ-S&P-NASDAQ ETFs (or T-bills, etc).

I believe you are right - it’s simply a convenience for buyers to unlock their crypto purchasing power.


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[Mini2]

We need some HYPER INFLATION

[Soultime]

It's showing why crypto doesn't really work as a currency in its current format. Way too volatile, so it's not a store of wealth.

It's obv here to stay - but when central banks get on board, I see all the interest/excitement dropping off.

Rolex...... No change. It exists and you can touch it.