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ROLEXROLEXROLEXROLEXROLEXROLEX
ROLEXROLEXROLEXROLEXROLEXROLEX
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#1 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: May 2011
Real Name: Larry
Location: San Diego, CA
Watch: ROLEX
Posts: 25,288
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"The world may be in a state of Covid-19 chaos, with growing unemployment, a spiraling death rate, and no vaccine on the immediate horizon, but someone just paid $3.6 million for a pre-owned wristwatch, $9.2 million for a fancy blue diamond ring, $84.6 million for a painting, and $795,000 for a rare bottle of whiskey.
And $615,000 for a pair of used Nike sneakers worn by Michael Jordan in 1984..." https://www.fa-mag.com/news/in-time-...tml?section=75
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![]() ✦ 28238 President DD 18K/YG ✦ 16610LN SS Sub ✦ 16613 18K/SS Serti ✦ 16550 Exp II Non-Rail Cream Dial ✦ Daytona C 116500 ✦ 126710 BLRO GMT-Master II ✦ NEXT-->? ⛳ Hole In One! 10/3/19 DMCC 5th hole, par 3, 168 yards w/ 4-Iron. ![]() |
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#2 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: May 2008
Real Name: Matt
Location: Wine Country, Ca
Posts: 5,921
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Prices were down for only a month and then started ticking back up, they are now more than they were before the pandemic.
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TRF Member 11738 |
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#3 |
"TRF" Member
Join Date: Aug 2015
Location: Houston
Watch: SkyD, SD43, GMT2
Posts: 5,022
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If you’re rich, you’re rich. I wonder what they’d have paid if the pandemic, etc. were not happening...
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#4 |
"TRF" Member
Join Date: Apr 2019
Location: Iowa
Posts: 244
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There are more ultra wealthy watch collectors than there are ultra expensive collectible watches. And most likely always will be.
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#5 |
2024 Pledge Member
Join Date: Jul 2018
Location: Santa Fe
Posts: 1,870
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Ok, interest rates are Zero, the equity markets are at or near all time highs, the U.S. Government, alone, has printed and distributed over $3.5 trillion, most of which went to already well heeled friends of the administration. What is a super rich individual supposed to do in times like this, sit around and feel sorry for poor folks?
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#6 | |
2024 Pledge Member
Join Date: Nov 2012
Real Name: Steven
Location: Glocal
Posts: 20,327
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Quote:
In other words, cash is trash (and will remain so for a long, long time) as central banks around the world attempt to keep the illusion of a financial bubble inflated. When this finally pops, as all bubbles do.... Or pull a 1933 and choose to 'revalue' currency, this time into a digital form as the Fed is proposing, yet in the end currencies are an illusion of 'value'. Which brings us back to central bank 'cash' is trash (in any form) as smart investors scramble and compete for items of intrinsic value.
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__________________ Love timepieces and want to become a Watchmaker? Rolex has a sensational school. www.RolexWatchmakingTrainingCenter.com/ Sent from my Etch A Sketch using String Theory. |
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#7 |
"TRF" Member
Join Date: Oct 2012
Location: US
Posts: 2,707
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#8 | |
"TRF" Member
Join Date: Oct 2010
Real Name: Daniel
Location: Sweden
Watch: 16570
Posts: 7,315
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Quote:
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#9 |
2024 Pledge Member
Join Date: Dec 2007
Real Name: Peter
Location: Sydney
Watch: The Game
Posts: 17,409
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That’s probably the money they saved on travelling so spent it on something else
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#10 |
2024 Pledge Member
Join Date: Jul 2018
Location: Santa Fe
Posts: 1,870
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True. And people forget that Money is a transactional medium and is meant to be used to purchase things. Once you have enough in reserve to assure you of a certain life style, the rest of your money can be spent on whimsy. When the government urges you to spend, by bringing interest rates to zero, or lower, and promises you that your money will be worth less in the future, why wouldn't you buy a nice watch for $4M, which is guaranteed to impress your friends, thereby bringing you great joy.
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