They should be renamed to be Crypto Commodities! Anyway, since the last post in 2021, this has sharply fallen to $30k and unlikely to rise above that whilst electricity is so expensive everywhere..
A friend of mine lost a fair bit in crypto recently, while the grey market in rolex has shown no sign of dropping, I did tell him roleys were better than something you can't even touch.
A physical piece of hardware which only has value by virtue of humans agreeing it is worth something. A mechanical watch might have some value in a post apocalyptic world, the electronic ones will all have been fried by Nuclear EMPs, however all simple mechanical movements would have pretty much the same value in such a world, nothing special about a Rolex an old fashioned Seiko 5 automatic would be on par with the Rolex, when the world has ended who cares about a few seconds per day. Now I certainly care about a few seconds a day while the world is still functioning, my 8 year old G Shock GW M850 Solar atomic will never need the 8 to 10 year maintenance a mechanical watch requires, it was second hand when I bought it and cost me £37 on eBay but it might not survive a nuclear holocaust EMP, however its rechargeable battery is in great condition even now nearly 9 years on. Everything made by man has a notional value, and that barter value is determined by the conditions of the time, global conditions, in a civilised technological world iPhones, Seikos and Rolexes have negotiable value, in other circumstances they are worthless, same as bitcoin. Access to water, food and shelter are things with intrinsic absolute value, everything else is luxury and negotiable.
What I am saying is that market is little different from gambling. I would never waste my money on a Rolex, something on your wrist is not an investment even if it might appear so right this moment, it's a tool, anyone treating it otherwise is gambling.
They are never on the wrist, always kept in their coffins, have you ever been to a roley dealer in the past three years or watched the market on select models?Its a calculated investment, crypto is a gamble.
Read the thread, we are all saying crypto is an insane gamble. Yeah Rolex watches kept in their coffins, same concept as mined diamonds kept in vaults or artworks kept in private collections again usually in vaults. At least gold has technical value it is essential in modern electronics and industrial diamond is manufacturable and does not require mining.
I did I have made quite a tidy sum since last December on a watch, I could walk into HG and cash it in, all I said was a roley is a better buy than crypto
Some years ago one member here made a fair bit on gold, anyone can get lucky in any market at the right time, the poor schmucks like me who have to invest for 40 years in the hope that the market will be good at the point we need the cash are the real marks. The people like choiandjohn who got in and out of Bitcoin and made a profit are not different to someone who gets in and out of the watch market at the right time with the right model.
I was lucky and I'm surely glad I didn't hold on to that crypto. Stopped mining it quite a while back and sold the cards when the ukraine war broke out. I feel that buying a rolex at retail as an 'investment' isn't such a great idea given the markup that retailers make. Reading the thread, its evidently possible to get lucky with the right model when bought at the right price, but I can think of better and more liquid ways of making an 'investment'. I also feel its likely that some people who view a luxury watch as an 'investment' either know little about investing, or are looking to make their purchase sound wiser when all they really wanted was the questionable ego massage that the watch gives. I often hear people use the term 'investment' to soften a purchase that will usually lose them money.. As the owner of a number of luxury watches, I have to admit I'm past that, I don't bother or enjoy wearing many of them anymore. I can't read the numbers on my Breitling navitimer for a start - so anyone wants to buy it - you're welcome.
Stop digging I just checked, it's gone up by 4k since last December, shock horror man spends his own cash on something he likes and it increases in value Rolex everywhere were difficult to get late last year/early this year, shops were actually sold out, watches of Switzerland only had a few display models, but I have had better investments in bricks-and-mortar so maybe your right
Don't be afraid, it's a London term, digging someone out is softly sniping at them for no reason whatsoever
I see. I wasn't sniping. I was simply commenting on your investment strategy, which I feel qualified to do, since one of us has worked investment banking for 20 years and the other believes that rolex watches are a sound investment strategy. We have a difference of opinion and hey, if it works for you then I'm happy for you - but I wouldn't recommend that it ever be taken as sound advice.
Just because you believe so doesn't mean it wasn't I also feel its likely that some people who view a luxury watch as an 'investment' either know little about investing, or are looking to make their purchase sound wiser when all they really wanted was the questionable ego massage that the watch gives. Ego massage it was a watch, I wanted it, I bought it, and it's increased in value by 5 bags so an "investment" no?
I wasn't referring to you specifically, which is why I carefully said 'some people'. I have known plenty of people buy rolex watches. Some of them claimed to be 'investing' in a rolex when it was obvious that was not the case - in a similar way to when you hear people saying they 'invested' in a new car. You sound awfully defensive for an investor... I would also point out that you have not actually made any money because you own a watch. It is irrelevant how much you think its 'worth' until you have sold it again. The worth of a retail item is not driven by what other similar items have sold for in the past. Its driven by the difficulty of finding a buyer willing to pay for it which in turn relies on many factors. It is quite unwise to rely on estimates of value because in my experience people are quite often disappointed. The whole reason investments are often made in money markets is that market makers exist to ensure a liquid market and a ready supply of buyers and sellers. This is not the case with watches or indeed physical gold, or diamonds in small amounts - there is a smaller supply of buyers and sellers with opposing interests and this makes the market an illiquid and inefficient one. Such a market is a more risky thing to invest in for a number of reasons - one of which is that individual prices are subject to much greater variation. Had you bought the watch with the intention of selling it later for profit, and sold it, then that's an investment. Buying a foreign watch some time ago and believing that its now worth more (in a time of forex fluctuation, changing import costs and cost of living increases with a price sensitive market) without actually selling it to a real buyer - who is prepared to give you money, is just a mixture of talk and hope. So no. I don't view your watch as an investment. I view it as a tool to keep time - until such time as you have sold it for a profit.
