Rolex bubble yes/no?

kelsey · Oct 27, 2019

To the moon
I think that's a small percentage of buyers that may share the same view. But like property they have become more of an investment to which it adds to the excitement to many. I for one hate losing money on anything and maybe the people who love watches for what they are and are not interested in the financial side of them should state if they rent there home as there is no point in buying one......

I don’t lose money on personal items I use money for its intended purpose ie as a medium of exchange.
Every watch I’ve bought is because I’ve liked/wanted the watch for me (or for my wife), and on each instance I considered it money well spent.

YY77 · Oct 27, 2019

To the moon
I think that's a small percentage of buyers that may share the same view. But like property they have become more of an investment to which it adds to the excitement to many. I for one hate losing money on anything and maybe the people who love watches for what they are and are not interested in the financial side of them should state if they rent there home as there is no point in buying one......

Buying a house opposed to when renting means when I have paid the last installment I'm owning the house and it will make my retirement less troublesome. Buying a watch means in my case having saved up for something I want and gonna enjoy it for years to come, I'm not worried about depreciation as the years I have enjoyed it are counted as usage costs.

alam · Oct 27, 2019

YY77
Buying a house opposed to when renting means when I have paid the last installment I'm owning the house and it will make my retirement less troublesome...

Maybe, maybe not. It all depends, there are different scenarios and many have shown that dumping the house you own (the biggest liabilities for many) and renting in retirement makes more sense financially and potentially less troublesome. But again, it all depends for each individual.

STANDY · Oct 27, 2019

Lotus_Eater8815
If i had the money, I’d buy 5 DJs to butter up my AD, sell those at a small loss in the grey, and get the SS that I want. That’s what most people who really want a steel sports are probably doing these days.

No most people are walking out of Boutiques empty handed.

Your average joe that wants a sub and nothing else walks out. Watch people buy a DJ or two. Show ponies buy a DJ or two.
People with money don't buy three watches because they want one. Most well off people are frugal at the best of times 😗

When you talk watches to non watch people and they ask if you have a Rolex and you say no and they reply " well it's hard to get one these days as most shops we have looked at for a few years they have no stock, even the cruise we took there was only gold little ones "
This can't be good for Rolex

dennisthemenace · Oct 27, 2019

Archer
But the fact remains if they sell a new watch, it must be sold at MSRP per Rolex agreements, or they risk losing their status.

Isn't it ironic that Rolex dealers could lose their franchise if they try to charge more than the MSRP, yet Omega took away Authorised Dealer status from so many retailers for doing the exact opposite.

Archer · Oct 27, 2019

dennisthemenace
Isn't it ironic that Rolex dealers could lose their franchise if they try to charge more than the MSRP, yet Omega took away Authorised Dealer status from so many retailers for doing the exact opposite.

Rolex has done the same. Birks, a well known retailer in Canada (often referred to as the Tiffany of Canada) lost Rolex a number of years ago when they published a chainwide sale in newspapers...

Braindrain · Oct 27, 2019

Silly me, thought this was a thread on bubble backs.

Stupid click bait title....

watchknut · Oct 27, 2019

Rolex has always been a status symbol...many owners bought because Rolex was a sign that they had arrived.

The Texas Timex, as the DD was known in the 1980s oil boom times, was a perfect example, as was the tutone DJ during the 80s...every finance guy and lawyer had one. Nowadays it’s a Batman/Pepsi/Daytona. People that want that look will pay whatever...they don’t care.

I was at a local jeweler’s event last week where they were selling pre-owned Rolex...people buying hulks at $16-7k, $19k batmans...it was stupid, just stupid, but there are a lot of people that just don’t care.

Rolex is an asset class like gold and silver now...people put money in it because they can enjoy and will have liquidity if they need to sell.

It sucks that the market is what the market is, but you either say fυck it and deal with it or get out.

Overall, watches have become much more than a hobby, and that lends itself to many issues that we didn’t have in the past.

It just isn’t the same anymore.

To the moon · Oct 27, 2019

S.H.
So, you don't go out for a drink or a meal? (this kind of expenses all add up). Never buy nice well made shoes? A nice old book? Fine alcohol? What does "losing money" exactly means if you are not a professional? I understand the idea of trying to buy cheap/sell high, having a good deal, trading a little, but making money that's work, not a hobby or a source of pleasure for most people. Some watch amateurs still buy what they like and afford, period.

This hysteria on not losing money on buying watches, and only buying specific hyped models seems like a collective ponzi scheme to me. I feel it is rather new, goes well with the time (too much paper money around, and lots of BS marketing).

Please note that.. I only compared investing in watches to investing in bricks and mortar. Going out for a meal is not a financial investment but a lifestyle investment. Fine wine would be a bigger investment than watches as long as you don't open it. but that would be a far greater challenge than whether to take the stickers off or not... 😉

To the moon · Oct 27, 2019

YY77
Buying a house opposed to when renting means when I have paid the last installment I'm owning the house and it will make my retirement less troublesome. Buying a watch means in my case having saved up for something I want and gonna enjoy it for years to come, I'm not worried about depreciation as the years I have enjoyed it are counted as usage costs.

Not sure worrying as to whether you need a new roof, boiler or general maintenance in retirement is piece of mind but, if you say so.

alam · Oct 27, 2019

To the moon
....Fine wine would be a bigger investment than watches as long as you don't open it........

but, but.... where's the fun with an unopened, good bottle of wine?? 😜

To the moon · Oct 27, 2019

alam
but, but.... where's the fun with an unopened, good bottle of wine?? 😜

Lol, it only becomes no fun when you have to buy 2 bottles of Pinot to get a Moët 😉

Martin_J_N · Oct 27, 2019

Stufflers Mom
Good news for Rolex buyers in the UK, buying from Watches Of Switzerland, they mentioned yesterday that they are giving an additional 5 year warranty on top of the 5 yrs that comes with a new Rolex, but a 10yr warranty still wouldn't be much use if they don't have any stock.

I bought my DJ41 last month and received the 10 year guarantee from WoS, I didn't know about it until I had purchased the watch and the SA told me that the watch came with a 5 year Rolex warranty and an additional 5 year WoS guarantee, I did question this and asked if it meant that I had a 10 year warranty and was told it did, the warranty is only issued on Rolex watches as far as I know and only at WoS or a WoS group shop, mine came from Mappin and Webb.

kkt · Oct 27, 2019

Lotus_Eater8815
If i had the money, I’d buy 5 DJs to butter up my AD, sell those at a small loss in the grey, and get the SS that I want. That’s what most people who really want a steel sports are probably doing these days.

Yeah, but what a pain in the butt if you don't want to be in the watch buying and selling business.

Donn Chambers · Oct 28, 2019

YY77
With all talk about so called waitlists, ie. people getting bumped up the list with additional purchases at AD's, outrages market value pricing of SS models, I'm curious to know whether there is definitive proof whether the asking prices of resellers are actually being paid or is it all speculation?

When a “like-new” Oyster Perpetual without papers in 36mm and 39mm is selling for $800-$1000 over list on several used watch sites, something is very, very wrong and I can’t see how this is sustainable in the long run. I don’t know if people are paying those higher prices, but I do know from experience that even Oyster Perpetual stock is low at ADs. I was just in the Chicago Rolex Boutique. They had two 36mm OPs (neither with the dial I wanted), no 39s, and only a few 34’s. Their stock was ridiculous.

The Omega Boutique down the road had a full selection, BTW, as well as many more customers.

Stufflers Mom · Oct 29, 2019

Who knows if the current high prices will last or not, but my bet is they will be stable for the foreseeable future, but it's strange that the demand for the professional range has pushed up the price of many of the lesser lights that were freely available a while ago like this DJ2.

Uniqez · Nov 1, 2019

Yes, NO!

JwRosenthal · Nov 1, 2019

STANDY
People with money don't buy three watches because they want one. Most well off people are frugal at the best of times 😗

THIS!
The current run on Rolex is new money, fast money, soon to be gone money (collectors aside). The class that would buy a Rolex as a graduation gift for nephew, son, grandchild- which was the bread and butter of Rolex for decades, won't do waiting lists, or coffee with the AD, or sucking up to a jeweler. The people that everyone thinks Rolex is trying to attract don't care enough about the brand. If they can't get what they want with a phone call, they move on to someone who will value their business.

saulgoodman · Nov 1, 2019

JwRosenthal
THIS!
The current run on Rolex is new money, fast money, soon to be gone money (collectors aside). The class that would buy a Rolex as a graduation gift for nephew, son, grandchild- which was the bread and butter of Rolex for decades, won't do waiting lists, or coffee with the AD, or sucking up to a jeweler. The people that everyone thinks Rolex is trying to attract don't care enough about the brand. If they can't get what they want with a phone call, they move on to someone who will value their business.

+1

Waiting Lists? Coffee with an AD? Sucking up to a Jeweler? Seriously? Anyone who makes it hard for me to spend a large chunk of my money in their store doesn't get my money. Period!

JwRosenthal · Nov 1, 2019

saulgoodman
+1

Waiting Lists? Coffee with an AD? Sucking up to a Jeweler? Seriously? Anyone who makes it hard for me to spend a large chunk of my money in their store doesn't get my money. Period!

When I was transferring colleges from Cal to the east coast, I looked at several Ivy's throughout New England. Each one told me how exclusive they were, how lucky I would be to get accepted as a transfer student since their standards were so high and that they only had a handful of transfer slots per year so I better have an appealing application. I was coming from friggin' UCBerkeley and was paying full boat- so not a charity case. I also applied to a smaller private sister school down in Baltimore- when I met with them they said they would love to have me as a student considering my field of study & portfolio and would be lucky to have me.

I was accepted to 3 of them, guess which one I went with.

Rolex bubble yes/no?

kelsey

YY77

alam

STANDY

dennisthemenace

Archer

Braindrain

watchknut

To the moon

To the moon

alam

To the moon

Martin_J_N

kkt

Donn Chambers

Stufflers Mom

Uniqez

JwRosenthal

saulgoodman

JwRosenthal

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