Anjobe wrote: » A Rolex may be a tangible asset, but it's value is determined only by how much people (i.e. new investors) are willing to pay to acquire it, an SS one at least has no intrinsic value.
Cyclingtourist wrote: » Sure it's tangible but how tangible in a market where more people want to get out than want to get in? The market could flip and once in reverse it could become a stampede. :eek:
banie01 wrote: » The rise of crypto
Anjobe wrote: » A market bubble and a Ponzi scheme are very similar, as many people discovered in the property market crash in 2008, the only real difference is there is no con-artist orchestrating the bubble. A Rolex may be a tangible asset, but it's value is determined only by how much people (i.e. new investors) are willing to pay to acquire it, an SS one at least has no intrinsic value.
Cyrus wrote: » no its not. its a bubble but there is a tangible asset,
Cyclingtourist wrote: » Is the Rolex market a Ponzi Scheme?
A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]; also a Ponzi game)[1] is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.[2] The scheme leads victims to believe that profits are coming from legitimate business activity (e.g. product sales and/or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own.
dinorebel wrote: » Can you fight?
Fitz II wrote: » The platinum with diamond markers is one of the hottest Rolex you can ask for, far more than any SS version. Instant 20-40k profit on a flip. You would want serious history to ask for such a watch and they will have no memory of your dad's spend 30 years ago. It's a 100k RRP watch and 140k on the grey market. Likely cheaper you just go grey as you are going to have to spend some amount on jewelry and lose your shirt on it. But hey if you have that dosh to spend without history of buying hard to get Rolex, you probably don't care I have about 35k on omegas, datejusts and jewellery, in there last two years and they never got me anything worth talking about. Waiting 2 years now on a skydwellwer I will never get.
Cyrus wrote: » Is the platinum now sought after as well Christ I give up One time they were available at fairly steep discounts ! Although I’m wary of these frothy grey dealer asking prices on hot watches , see the nautilus sitting on tzuk at 70k so obviously wf et al aren’t even paying that yet offering them out at 100k
Time wrote: » I've spent nearly 40k there in the relatively recent past. I'm sure theres no hard and fast rule though, and it depends on the watch you want.
Time wrote: » Spent 25kish a few weeks back, and was basically offered a S/S rolex if i want it.
Creamy Goodness wrote: » Would you be willing to divulge how much you would have needed to spend? Bought roughly about 10k of watches and jewellery over the years in weirs. It’ll probably be a year or two before looking to buy too.
Time wrote: » You don't even need to spend that much to get preference on SS models.
Cyrus wrote: » I’d want preferred treatment on a stainless steel model if i was paying for a platinum.
DPG wrote: » Does anyone know if the wait list for a regular platinum Daytona or one with diamond markers would be similar to that of the stainless steel in Weirs? I have absolutely no relationship with Weirs so expecting my chances are slim to none of acquiring one. My father purchased a gold day date with black face and diamond numbers from them in the mid 90s so hoping that might count for something.
Oafley Jones wrote: » Figures are a bit out. Remember watches aren’t 24k gold. Edit. Also worth tracking the historical price of gold vs the selling price of a day date. I suspect it won’t be too far back before you hit that 10%.
Rootsblower wrote: » Done a little research. The best answer I can get regarding the weight of a yellow gold Day/Date 40 is 205g to 220g depending on how many links so let’s take the midpoint of 213g At yesterday’s close of the markets gold was €52.19 per gram giving the scrap value of a Day/Date 40 of €11116.47.
893bet wrote: » Suspect that weight included the movement weight and crystal. I would be surprised if it was that high of an intrinsic value to be honest.
893bet wrote: » I remember doing a little googling on how much gold is in a gold Rolex. Decent rule of thumb at the time seemed 10 percent! I.e a 40k watch would have circa 4k gold. Frightening!
Rootsblower wrote: » When you think about it a day/date is retailing at about 34k and your literally getting a lump of gold , maybe not 34k worth of gold but probably 10k of gold. This watch’s value is less second hand than its retail price even though its components have a quantifiable value i.e the price of gold. Contrast that with a new submariner with a retail price of circa 9k whose components have little to no quantifiable value but could be sold on the secondary market for anything up to double retail. I just think there’s no logic at play regarding Rolex at the moment. Seen a nice 36 mm day date in the uk on a leather strap for 7k I have to admit I was tempted. It was mint with b&p, new bracelet from Rolex I believe is 8k. Was gonna buy the watch and hold off on the bracelet for a couple of years but I mentioned it to the Mrs. The look I got was all the answer I needed!!!
