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

[bdex75]

Originally Posted by Britexpat76

That's what I tell the wife.

Me too. Hope she doesn't sell them for what I told her I paid for them when I am gone!!


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[robrtx]

This is why I am stocking up on canned goods, bottled water, and Rolex's before the apocalypse............

[Jake B]

Originally Posted by Ritch99

I have a close friend who works as a contractor. He makes good money and bought himself a brand new Sub C for work. Many contractors do, here's why.

He found himself trying to get out of a certain country but because he does not work for the DoD, found himself in a situation where he and 4 other coworkers arrived at a boarder crossing and were not going to be permitted to leave through that check point. Americans were told to get out quick. He basically used his sub as a internationally recognized currency to buy his and his coworkers way through the check point. His opinion was that had they not gotten out, they would have eventually been captured and ended up in enemy hands. Good value there I am thinking. A good example of international brand recognition.

Aaaaaah....The single most common urban legend on watch forums. Sounds like quite a few people have this same "friend/cousin/"guy who knows a guy")

[TripleB Boston]

Originally Posted by Jake B

Aaaaaah....The single most common urban legend on watch forums. Sounds like quite a few people have this same "friend/cousin/"guy who knows a guy")

Is that guy's name Bill too?

It seems to me that a 5k rolex, or whatever he gets paid in wherever the heck he works, is not worth the possibility of getting killed or captured.

[Onikage]

Originally Posted by Jake B

Aaaaaah....The single most common urban legend on watch forums. Sounds like quite a few people have this same "friend/cousin/"guy who knows a guy")

Cool story though.

[andromeda160]

Originally Posted by Roller07

No I do not. Try paying your electric bill with a Rolex and see how that goes.

send me your bill and a Rolex next month, i'll take care of it

[Ritch99]

Don't know about any of that, I'm new here. 1st forum ever. Lmao...always one in every crowd, gotta love it. That's what makes this country great. I am glad I am not "that guy" on the forum, sounds like my ex wife, no matter what you say, something negative to add...lol

[second time]

Buy a new Rolex and sell it a couple of years later and you'll probably take a 50% hit. Not much of a currency imho.

My recommendation: buy and hold.

[viczeva]

Originally Posted by Bfd70

Paper money doesn't increase in value over time either. Obviously the opposite. I personally consider it a watch. However, if someone wanted to buy a rolex, wear it for a year, and then sell it for a modest loss they could. Then it's like renting a watch. I do this all the time with motorcycles.

Agreed. A Rolex won't be as liquid a cash, nothing is... But assuming you never have an emergency and have to immediately sell, and as long as you bought at the right price, you could probably get back what you put into it or take a small loss.

You make your money when you buy the item... If you over pay, nothing will "keep its value". My 2cents.

[Gaijin]

I know that if I should ever need to I can sell a Rolex and get fast cash for it. If I buy well and keep it for a five or so years I can even get most of my money back if I am not in a rush.

[Tyl3r]

Cash is the most liquid asset there is. Rolexes are an asset, but far from having the same liquidity of a currency. I feel a Rolex is like any other piece of jewelery. As long as you purchase at the right price, you should not lose much flipping it.

[I-luv-Rolex]

I don't know about 5k. But if you have 10K and if properly invested you should get at least 20% return in you investment in the stock market. I doubt a Rolex could every beat that.

[Tyl3r]

Originally Posted by I-luv-Rolex

I don't know about 5k. But if you have 10K and if properly invested you should get at least 20% return in you investment in the stock market. I doubt a Rolex could every beat that.

I'm not sure where you can safely achieve a 20% return. However, the OP did not claim Rolex watches are an investment; he said that he views them as another form of currency. I happen to disagree with him.

[I-luv-Rolex]

Originally Posted by Tyl3r

I'm not sure where you can safely achieve a 20% return. However, the OP did not claim Rolex watches are an investment; he said that he views them as another form of currency. I happen to disagree with him.

I agree with you that it is slightly off subject. But do you think buying and holding a Rolex for a year is without risk.

[viczeva]

Originally Posted by I-luv-Rolex

I don't know about 5k. But if you have 10K and if properly invested you should get at least 20% return in you investment in the stock market. I doubt a Rolex could every beat that.

20% returns? I wish!
The historical average is less than 10%, and that only if you keep investing during hard economic times such as the Great Depression to average out when the market rebounds.

Rolex is an asset which is not as liquid as cash - nothing is. If you buy at the right price, you can definitely limit your risk and might be able to take a very low loss, if any. Now if you buy vintage, it might even appreciate in value.

[Tyl3r]

Originally Posted by I-luv-Rolex

I agree with you that it is slightly off subject. But do you think buying and holding a Rolex for a year is without risk.

I believe that if I were to purchase a pre-owned Rolex this year and sell it the next year (same condition), the price would remain nearly unchanged. If you purchase a brand new watch and sell it the next year, the loss would be highly predictable. Since, there are not many swings in Rolex pricing and historically Rolexes maintain their value pretty well, I would say there is not much risk buying and holding a Rolex for a year, but there is definitely some risk. If you buy right and sell right, there is little risk.

[T. Ferguson]

I see the OP's point, but I wouldn't exactly refer to it as a form of currency simply because I don't buy it with the idea I might "spend it" someday. But there is truth to the notion that it is not money down the drain but rather a legitimate asset that may depreciate some, but does have some liquidity to it relative to many other assets.

[tomcorkery]

I feel as though I am just borrowing my watches. I do wear them, keep them nice then trade and add some money when I want another. I do take a hit each time, but it keeps the price down. For example< I had a big pilot that i paid 8500.00 for, enjoyed it for 3 years then traded it in on an ap. They gave me 7500. on the trade. Thats 330 dollars a year. Not bad if you ask me.

[azguy]

Originally Posted by Ritch99

I have a close friend who works as a contractor. He makes good money and bought himself a brand new Sub C for work. Many contractors do, here's why.

He found himself trying to get out of a certain country but because he does not work for the DoD, found himself in a situation where he and 4 other coworkers arrived at a boarder crossing and were not going to be permitted to leave through that check point. Americans were told to get out quick. He basically used his sub as a internationally recognized currency to buy his and his coworkers way through the check point. His opinion was that had they not gotten out, they would have eventually been captured and ended up in enemy hands. Good value there I am thinking. A good example of international brand recognition.

BS story

[brandrea]

Originally Posted by T. Ferguson

I see the OP's point, but I wouldn't exactly refer to it as a form of currency simply because I don't buy it with the idea I might "spend it" someday. But there is truth to the notion that it is not money down the drain but rather a legitimate asset that may depreciate some, but does have some liquidity to it relative to many other assets.

Well said

[Gaijin]

Originally Posted by tyl3r

i believe that if i were to purchase a pre-owned rolex this year and sell it the next year (same condition), the price would remain nearly unchanged. If you purchase a brand new watch and sell it the next year, the loss would be highly predictable. Since, there are not many swings in rolex pricing and historically rolexes maintain their value pretty well, i would say there is not much risk buying and holding a rolex for a year, but there is definitely some risk. If you buy right and sell right, there is little risk.

x 2.

[mschafer]

It's definitely more stable than your new Apple watch, BMW M series or the latest laptop/iPad/iPhone/DSLR...and that's a good thing. The value appreciation has happened a decade or so ago, just ask my buddies with 70/80's SS sports Rolexes...

[rolepam312]

Like currency??? That's the ultimate definition of " rationalization" .... But I'm guilty too.... But in the end , since I'll wear all my watches and will pass it on, I don't consider them actual currency, once the funds are gone to pay for a watch, it's gone....

[novan3]

Originally Posted by Ritch99

He found himself trying to get out of a certain country but because he does not work for the DoD, found himself in a situation where he and 4 other coworkers arrived at a boarder crossing and were not going to be permitted to leave through that check point. Americans were told to get out quick. He basically used his sub as a internationally recognized currency to buy his and his coworkers way through the check point. His opinion was that had they not gotten out, they would have eventually been captured and ended up in enemy hands. Good value there I am thinking. A good example of international brand recognition.

Should've kept the sub & given them a TAG.

[AS1]

The border crossing story is a classic.

[Rockrolex]

I've seen trusted sellers on TRF offering watches identical to my 15 year old black bezel GMT-II for twice what I paid. Not that I would ever sell it, as this is my favorite watch. Nor do I sell or trade any of my watches. Once I buy them, they are mine to keep forever.

[cornerstore]

They are universally recognised as currency, very liquid, much like gold is. Rolex can be both enjoyable and an appreciating asset. That makes them even more enjoyable to own and wear, unlike my consumer cars that depreciate with every mile driven.

[Mick P]

Chaps

If you are the sort of chap who needs to sell a Rolex in order to raise cash in a fix, then you are not really the sort of person who should be wearing a Rolex.

A true Rolex owner buys the watch with a view to keeping it and forgets about the cost and its value..

Regards

Mick

[Chadridv]

I liked in the Bourne Legacy, how Aaron Cross steals the plant manager's gold Daytona, and later on in the movie uses it to pay for boat passage and escape.

That's just a bit of hollywood fun obviously, but I have to say (and to echo others), I really don't see any form of jewelry as "currency" unless maybe you're talking about a plain gold ring that's worth it's weight in gold, and has almost no craftsmanship.

But with that said, Rolex above all other watch companies is likely the most well known name in luxury watches and if you are in a jam and have nothing but your Rolex on your wrist, you're better off than not having it. But in no world, having a $7500 watch on your wrist will ever equal having $7500 cash on hand.

Owning/purchasing a modern Rolex is no more than a fun place to put your money that hopefully will not depreciate too much over time, and if you're lucky may actually appreciate a little.

(from the movie ;)

[Chadridv]

Originally Posted by Mick P

Chaps

If you are the sort of chap who needs to sell a Rolex in order to raise cash in a fix, then you are not really the sort of person who should be wearing a Rolex.

A true Rolex owner buys the watch with a view to keeping it and forgets about the cost and its value..

Who are you to determine who a "true Rolex Owner" should be? I think you're missing an "IMO" before that sentence.

My father has been buying Rolexes for 50 years. He is very much a "true Rolex owner" and he has pulled pieces from his collection countless times to sell and help pay for college for his children, help with down payments on homes that we lived in growing up, to put the money towards other investments that helped improve the lives of my parents, my siblings and extended family. He is that 'sort of chap" and if I'm lucky I will be too.