Who else views a Rolex as a different form of currency?

[MCO1]

I see your point to a certain degree but many many factors as many have shared. I'd say if you are talking steel Subs, GMT's and Daytona's purchased at a good price probably not new and kept for a few years maybe.

[xjeeunitx]

Buy used and you won't lose so much when you resell it. Sometimes, you can even make some depending on how much you originally purchased for.

[myc ritz]

Unless you were buying vintage Daytonas, the these are not a fantastic investment. That being said, of all things to purchase that provide you with enjoyment if you were to sell, your money would not disappear completely.

[douglasf13]

Originally Posted by myc ritz

Unless you were buying vintage Daytonas, the these are not a fantastic investment. That being said, of all things to purchase that provide you with enjoyment if you were to sell, your money would not disappear completely.

Yeah, that's how I feel about it. Buying my used Sub Date may not be some amazing investment, but there are few things that I buy to enjoy that could even come close to getting my money back after 5-10 years. I've eaten a lot more money on things like cameras, cars, etc. Even if I lost a grand after 5 years, that wouldn't be too bad, and I doubt that would happen with my Sub.

[Leojmcca]

That's how I look at it.....worst case scenario, if we need $2k I know any pawn shop will give me cash on the spot.

[Girkmonster]

Originally Posted by Bond's First Watch

In my mind, if you spend $5,000 on a used Rolex you're not really "out" five large. You've merely traded cash for another form of currency, which most likely won't be worth much less than what you paid for it.

Anyone else think this way?

Ummm, no. I view it as having purchased a watch. In fact, I wear it like a watch. I have never taped a $100 bill to my wrist, believe it or not.

[GolfPunk]

I agree, it's a bit like buying gold and seeing what happens, but gold is actually far riskier as its volatility is very high. A very good condition and complete Rolex, if properly maintained will very slowly appreciated in value over time. Not really a shrewd investment but it is a highly enjoyable investment and very safe purchase if it's properly insured.

[jhe888]

Well . . .

It is a depreciating asset, but it may depreciate a good bit more slowly than most consumer goods. Especially if you buy a used watch.

But it isn't really like buying gold or stocks.

[VinnieVegas]

No, I don't really see it this way.

[gyuhni]

Agreed. I think most used Rolex will sale for more.

[mike]

Originally Posted by Girkmonster

Ummm, no. I view it as having purchased a watch. In fact, I wear it like a watch. I have never taped a $100 bill to my wrist, believe it or not.

[Psmith]

It's a mass-produced watch, not legal tender.
Cal it a different form of jewellery.

[dpa94114]

Interesting concept...thanks.

I like to compare money I've spend on Rolex to other spending hobbies (wine, vacations, grand dining...). It takes nothing to drop $5K on a week's vacation - then it's over.

I don't expect that I could sell my watches in a minute and recover the full costs - but the loss would be relatively small...and I enjoy them more these days compared to a week on the beach.

[beshannon]

Originally Posted by Bond's First Watch

Anyone else think this way?

No

[doubleinfive]

In certain parts of the world (maybe even in the US), a Rolex watch may be considered currency. People are willing to take it as form of payment for services or goods they offer. I consider it currency because I believe it to be a liquid asset. Someone, somewhere will buy it from me or consider it as a form of payment at a predetermined price. If my life dependent on it, I really wouldn't care how much I paid for it or if I can recover my cost.

I am self-employed and if someone offered to pay me with his Zenith Daytona for the services that I provided, I will gladly accept.

[Bspot]

If you buy right and also enjoy wearing them all the better. With a price increase coming by years end of 10-12%, now is the time to purchase the ones you like. I had a few that were on my list; 116601 116618 and 116505. They are now either in my safe or being worn and enjoyed.

[Abdullasaif]

Originally Posted by Britexpat76

That's what I tell the wife.

This made my day

[Zoran]

Originally Posted by Steve36Efc

Snap, I always say to my wife it's an asset and not like wasting money on a car.

I always say to my wife it's an asset and not like wasting money on shoes and bags
But in the end it's a passion, hobby and makes us happy.
Is there any other reason to it?

You can convert it pretty quick to cash if needed.
Taking a hit is a possibility, depending on how fast you need it

[Solo118]

Originally Posted by Zoran

I always say to my wife it's an asset and not like wasting money on shoes and bags
But in the end it's a passion, hobby and makes us happy.
Is there any other reason to it?

You can convert it pretty quick to cash if needed.
Taking a hit is a possibility, depending on how fast you need it

I agree! Definitely an asset in my eyes, but definitely not appreciating faster than a snails pace

In the end it is a hobby to us all, but if any of us were in a financial bind a Rolex can be sold easily unlike some other high end brands.

[Ravager135]

I'm sorry but this thread is ridiculous. Currency is currency. Rolex watches as assets do not equal liquidity, even if they hold their value reasonably well.