No chance of getting a watch even in recession

[Madman37]

https://www.google.co.uk/amp/s/amp.f...4-dab81ef997f5

In case you don’t have a subscription it basically says watch sales are up for Rolexes even during recession pandemic etc.
The article says that local stores are getting more stock for UK customers as the tourists are less.

[Dr.Brian]

Wait for the crash.

[Seddyspaghetti]

:(

[Yess]

A lot of people out of work... A lot of people still employed... Still a lot of demand for Rolex.

[scarlet knight]

The WFH people still have jobs, mostly, and they are the ones who can afford Rolex. But with no stimulus package close, there may be another big leg down in the US.

[Setarip]

WSJ blip article in Overheard section, FWIW:

During lockdowns, local watch hunters didn’t have to compete with tourists for a Rolex

https://www.wsj.com/articles/posh-wa...ur-11597401860

[huncho]

the people that can afford rolexes are still working

[ratty]

Originally Posted by huncho

the people that can afford rolexes are still working

Or don't need to!

[kaiserphoenix]

What recession....? Honest question. There is a pandemic yes, but looking at watch prices, stock market, salaries (wfh people), nothings changed and its only gone up...

[Polarexplorerii]

Originally Posted by Yess

A lot of people out of work... A lot of people still employed... Still a lot of demand for Rolex.

I agree

[bluebeamer]

rolex is recession proof!

[Xenon]

The recession is over for the rich.

[arcentaur]

Job loss still can’t outpace demand.

It would take an extinction-level event before that happens. Let’s hope it won’t.

It’s just a damn watch.

[Fleetlord]

For individuals in the market for Rolex, the economic upheaval has been a non factor.

[eanzenberg]

What happened is people are using their vacation / travel budget on jewelry. It’s what we ended up doing, after 3 of our EU trips were canceled. It’s what we’ve heard from our friends and from our AD.

[brucethemanlee]

Originally Posted by Yess

A lot of people out of work... A lot of people still employed... Still a lot of demand for Rolex.

yes.. a lot of people out of work, but most of those people (in general) would not be in the market to buy Rolex even if they still had a job.

[77T]

Some recessions don’t affect demand for luxury goods - it just redistributes where the demand is highest.

The people most heavily impacted this time were not seeking a Rolex to begin with.


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[htc8p]

as the days go by big business will feel the economic slump even the rich will feel it. then they will reconsider spending

[Sandpit]

There's no coincidence that the savings rate (in the UK at least) has gone from 5% to 30% these last few months.

Also that credit card debt has been paid down at the highest rate in decades.

There are many many people with serious amounts of spare cash that isn't being spent on clothes, expensive meals, holidays and such. I think there's also an air of confidence now that perhaps the world isn't going to end.

What confuses me though, and perhaps somebody with better knowledge of economics than I, is that I thought inflation increased as spending increased but quite the opposite is happening.

[kaiserphoenix]

Originally Posted by Sandpit

There's no coincidence that the savings rate (in the UK at least) has gone from 5% to 30% these last few months.

Also that credit card debt has been paid down at the highest rate in decades.

There are many many people with serious amounts of spare cash that isn't being spent on clothes, expensive meals, holidays and such. I think there's also an air of confidence now that perhaps the world isn't going to end.

What confuses me though, and perhaps somebody with better knowledge of economics than I, is that I thought inflation increased as spending increased but quite the opposite is happening.

Well you said it yourself, savings rate is up and for things like Gasoline for example demand has dropped off. For other areas of the economy inflation has happened, just not for everything. Things like Rolex, Louis Vuitton, Hermes etc these luxury items & cars, have gone up in price even more so than pre-covid for some things. On the other hand, things like commercial realestate, housing market (in some areas of the world), travel related expenses have seen lowering/adjustment of prices.

[Ihatecheese]

You can get a watch. Just not the most popular ones that everyone on the high street can identify. So many thinking it's an investment the market is hoovered up. Its got to the point that I have people at work asking me about them with no internet in watches otherwise, as they heard it was a thing. Reminds me of bitcoin.

[Simon_jrees]

Originally Posted by Madman37

https://www.google.co.uk/amp/s/amp.f...4-dab81ef997f5

In case you don’t have a subscription it basically says watch sales are up for Rolexes even during recession pandemic etc.
The article says that local stores are getting more stock for UK customers as the tourists are less.

[teabags001]

Mainly rich people buy Rolex. Especially multiple Rolex. As they say the rich get richer. Even during a pandemic or recession. Look at amazon for example.


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[Crashblue]

If demand should drop Rolex usually ships less watches in the past they even bought back watches from dealerships to keep the demand above the availability.

However in the past the hype and demand were not that crazy. I just have to recall last christmas, when there were no more Rolex watches in the windows of the dealers and they shipped out some watches to the dealers so they had something to put into the windows. My guess would be they will reduce the number of watches they ship out but hopefully they will try to regulate it back to the pre hype phase.

[TswaneNguni]

Rolex production was closed ,no distribution, and now 30 percent down on production ..you think prices will come down ?

Then ,during uncertain times people tend to park money in alternatives ...gold coins,Rolex ,Patek ....

Its quite simple really .

[996marty]

People can’t go away on holidays well not here anyway meaning extra cash to spend on other things like watches along with the fact Rolex shut up shop for a while less watches to go around keeps the prices high ,Anyone looking for that one special watch will find money for it.

[Nairn1980]

Originally Posted by Dr.Brian

Wait for the crash.