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Watch investment - a way to save money from inflation?

Discussion in 'General Chat' started by Asterion, Nov 28, 2022.

  1. #1
    I recently found out that my friend is buying watches as an investment. Basically it's a Rolex. According to him, this is a more stable investment of money than stocks of technology companies and cryptocurrency. Anyone doing something like this? If yes, what is the best time to invest? Any helpful thoughts on this?
     
    Asterion, Nov 28, 2022 IP
  2. MGwebmaster

    MGwebmaster Well-Known Member

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    #2
    It's not a bad idea if you're into watches. There's a lot of nuances there.
     
    MGwebmaster, Nov 28, 2022 IP
  3. Asterion

    Asterion Active Member

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    #3
    What are the nuances? Do you invest in watches?

    Can you share your experience or where can I read about it?
    In Google on the topic of investing in watches one can find only one advertisement practically or continuous calls to buy a Rolex.
     
    Last edited by a moderator: Dec 6, 2022
    Asterion, Nov 28, 2022 IP
  4. MGwebmaster

    MGwebmaster Well-Known Member

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    #4
    I can't call myself a watch investor, but I have some experience buying vintage watches for resale. I'm not sure if you need to invest in watches if you're having these questions. As a rule, those people who have been rotating among watches for a long time invest in watches.

    For information, start with these two articles:
    https://www.beautifullife.info/fash...h-investor-what-watches-are-good-investments/
    https://www.chrono24.com/magazine/the-top-5-luxury-watches-to-invest-in-for-2023-p_103280/
     
    MGwebmaster, Nov 28, 2022 IP
  5. Spoiltdiva

    Spoiltdiva Acclaimed Member

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    #5
    You want to buy Rolex watches that are not that much to buy, but keep gaining in value. The best of these is the Rolex "Hulk" Submariner with it's green face.
    In 1957 when it first came out it cost $150. The same watch today will cost you $7,500.

    Another easy to sell watch is the Rolex GMT-Master II "Batman" model.
     
    Spoiltdiva, Nov 28, 2022 IP
  6. Asterion

    Asterion Active Member

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    #6
    I'm not in a hurry to spend the money - first I want to figure it out.
    Thanks for the recommendations.

     
    Asterion, Nov 29, 2022 IP
  7. Asterion

    Asterion Active Member

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    #7
    $7,500? Is this some sort of joke? :)
    Now the Rolex "Hulk" Submariner Date is priced at $27,000 - $32,000. I wanted to buy it but my budget is half the price.

     
    Asterion, Nov 29, 2022 IP
  8. Spoiltdiva

    Spoiltdiva Acclaimed Member

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    #8
    When purchasing Rolex watches you don't go to reputable dealers, you have to "know" someone. One doesn't ask too many questions. You can get these at 30 cents to the dollar, do you really care how they were acquired? ;)

    If I wanted a Rolex for myself and wanted to get the lifetime guarantee, then I would have to go to a dealer or a shop. I would buy the woman's green faced Bulgari which sells for $11,100 Canadian, which translates to about $8,350 U.S.
     
    Last edited: Nov 29, 2022
    Spoiltdiva, Nov 29, 2022 IP
  9. Asterion

    Asterion Active Member

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    #9
    I still don't understand where you got the $7,500 price for the Hulk from. Official Rolex dealers do not sell it at such a low cost, even if your good friends are there.
    And on Chrono24, the new Rolex "Hulk" Submariner Date is priced at $27,000 - $32,000.

     
    Asterion, Nov 30, 2022 IP
  10. Asterion

    Asterion Active Member

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    #10
    Just check it:
    https://www.chrono24.com/rolex/hulk--imod2900.htm?usedOrNew=new
     
    Asterion, Nov 30, 2022 IP
  11. Spoiltdiva

    Spoiltdiva Acclaimed Member

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    #11
    I am going to presume that English is not your 1st language, moi aussi. Let me explain it this way: All over the world in countless motel rooms people take off their jewelry and their watches off to go swimming in the pool or on the beach. They come back to their rooms and all has been stolen.
    The cops are called, the employees interviewed and no one knows anything. The people go home, file an insurance claim and all is well.

    What I'm trying to tell you is that there is a huge black market in regards to Rolex watches.
     
    Last edited: Nov 30, 2022
    Spoiltdiva, Nov 30, 2022 IP
  12. Asterion

    Asterion Active Member

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    #12
    Of course. After all, I'm a Korean - you can see it in my photo :)

    When it comes to luxury watches, they usually talk about the secondary watch market. Not a black market, but a secondary one, just some watches that were "mined" in the way that you described will be sold without documents and boxes. But they will not cost 3 times cheaper. Just open the Chrono24 link I gave above and see for yourself.

     
    Asterion, Dec 1, 2022 IP
  13. Spoiltdiva

    Spoiltdiva Acclaimed Member

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    #13
    I have lived and worked in 4 countries. (France, Italy, U.S.A., Canada) I have met many well to do executives and business men/women. I am sure that I have known or met dozens of people who were wearing Rolex watches, have you? I know how they got them and how much they paid for them, do you?
     
    Spoiltdiva, Dec 2, 2022 IP
  14. Asterion

    Asterion Active Member

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    #14
    Cool, I'm impressed with you. Unfortunately, I don't have such work experience in so many countries. But I'm sure that not all "well to do executives and business men/women" buy Rolex in pawnshops or even worse - stolen ones. Even despite the lower price.

    Most people, myself included, buy their Rolex from official stores. If there is no watch available there or there is no desire to wait a few years, the secondary market is quite a good option. But don't expect cheaper prices - all Rolex are sold there for more than official dealers.

     
    Asterion, Dec 5, 2022 IP
  15. sarahk

    sarahk iTamer Staff

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    #15
    If you know what you're doing you can probably do well, given the examples. However, I'd question what else a smart investor could have done with their money in the '50s and what return they would get now. Plus there's the cost of storage, security etc because they'd need to buy many watches to get a significant return on investment. Even if you got the $32,000 price you'd be paying tax on that at 33% (in my country) and it'd be blown pretty quickly. I'd need to be selling 6 a year to maintain any kind of "lifestyle".

    Back in the late '80s I had a flatmate/roommate who had a fake Rolex and a real one. He showed me both one day, and some other stuff he had stashed under a pile of boxes n his room. A week later we were robbed, the fake was left behind, the real Rolex stolen and the stuff in his wardrobe stolen. I hadn't been impressed enough to tell anyone so he must have told someone else. It certainly appears that some people coveted them then, and still do now. Personally, if it's not a smartwatch, why bother?
     
    sarahk, Dec 6, 2022 IP
  16. Spoiltdiva

    Spoiltdiva Acclaimed Member

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    #16
    ^^^This is what I've been "trying" to tell the OP. Nothing gets stolen more than a Rolex watch. The fake ones tick with the second hand, the real ones don't. So many Rolex watches get stolen that it is fairly easy to acquire one at 30 cents to the dollar.
     
    Spoiltdiva, Dec 7, 2022 IP
  17. Asterion

    Asterion Active Member

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    #17
    If you have the opportunity to buy cheap Rolex that were stolen (or kind of were stolen) - I'm very happy for you (honestly - no). I'm an honest man and won't risk buying a stolen watch. In the case of Rolex, there is a high chance of buying a fake. No one will voluntarily sell a Rolex three times cheaper than they could. Even if they were stolen.

    Actually, this Thread is not about stealing watches, but about watch investments. Therefore, I would like to discuss watch investing strategies here.

     
    Asterion, Dec 27, 2022 IP
  18. sarahk

    sarahk iTamer Staff

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    #18
    An important part of investment is when you get into the investment, buy low and all that. So if you're buying assets for future sale then how you buy is important. If the only way to make a buck is to be scum then maybe that's not an investment at all.
     
    sarahk, Dec 27, 2022 IP
  19. Spoiltdiva

    Spoiltdiva Acclaimed Member

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    #19
    Hahaha!:rolleyes: An "honest" businessman are you? Good luck in getting ahead in a dishonest world.
     
    Spoiltdiva, Dec 29, 2022 IP
  20. Starmorph

    Starmorph Peon

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    #20
    I bought a rolex last year and I really feel good about my purchase. I lost a lot of my net worth with crypto and stocks crashing, but my Rolex is holding it's value well and I enjoy wearing it!
     
    Starmorph, Dec 29, 2022 IP