Rolex Market Madness

[Singslinger]

Originally Posted by Heady Topper

I don't think two buyers represent today's reality. That said, I see no problem with people doing that. Example, I'm not into cars and drive a beat up Mazda 3 but wear a Rolex lol

I agree!

(I also drive a Mazda 3)

[stevenyoo]

Originally Posted by Singslinger

I agree!

(I also drive a Mazda 3)

Peasant!

I wear my Rolex driving a CX-5

[lamnyc]

I guess they can always file for bankruptcy. They already owed tons of money from student loans. What’s another 10G

[Bizcut1]

Mazda Mania!

[904VT]

Now there’s a big difference between millennials in their 20’s financing a Rolex they can’t afford and millennials in their 30’s owning Rolex mid-career. The millennial label is overplayed, there were stupid people in every generation just no internet to let it be known. In fact Baby Boomers take the majority of government outlays by age demographics, mostly including mandatory spending programs. I’m not surprised the next generation expects to be given so much when their parents are promoting similar ideals, even if unknowingly. Still not fair to categorize an attitude of an entire generation. I think people in their 20’s of course are more likely to make financial mistakes, so perhaps this is us just framing the data quite honestly. The private employment sector also has a disproportionate amount of higher paying jobs to cater to the older employment base. Companies and employers are going to have a difficult time cultivating talent when they allocate such a budget towards the older demographic. You get what you pay for unfortunately. On the job training and mentorship programs are almost non-existent as well in the current employment market. Not surprised to see what we see happening, especially regarding talent.

[Yellowfury]

Originally Posted by lamnyc

I guess they can always file for bankruptcy. They already owed tons of money from student loans. What’s another 10G

what a hot take. Let's not equate taking out loans to fund education with a loan to fund a luxury item.

Before anyone says that a college degree is a luxury, let's not ignore the fact that even low paying jobs now require a bachelor's at minimum unless you want to live in abject poverty. Your only other alternatives are either trade school (and we do need more people in trades) or to sign away years of your life to the military to fund your education.

also AFAIK bankruptcy usually doesn't save you from student loan debt.

[904VT]

Originally Posted by Yellowfury

what a hot take. Let's not equate taking out loans to fund education with a loan to fund a luxury item.

Before anyone says that a college degree is a luxury, let's not ignore the fact that even low paying jobs now require a bachelor's at minimum unless you want to live in abject poverty. Your only other alternatives are either trade school (and we do need more people in trades) or to sign away years of your life to the military to fund your education.

also AFAIK bankruptcy usually doesn't save you from student loan debt.

I’m still shocked at the lack of interest and promoting of high-skilled trade schooling. We have local trade schools and the MITs of the world but very little in-between filling that need. I guess I’m not surprised bachelor degrees are pushed so heavily since after all the loans are a great profit/revenue source

[TCU34]

Originally Posted by 904VT

I’m still shocked at the lack of interest and promoting of high-skilled trade schooling. We have local trade schools and the MITs of the world but very little in-between filling that need. I guess I’m not surprised bachelor degrees are pushed so heavily since after all the loans are a great profit/revenue source

So true. Welders in Houston make $100k+ after 9 months of school.

[904VT]

Originally Posted by TCU34

So true. Welders in Houston make $100k+ after 9 months of school.

That's a great career for many and a nice head start on saving towards that first home compared to students doing a 4 year+ program in what often is a lower wage once graduating.

[Yellowfury]

Originally Posted by 904VT

That's a great career for many and a nice head start on saving towards that first home compared to students doing a 4 year+ program in what often is a lower wage once graduating.

honestly i think part of it is because it's not a "sexy" job...not saying that my desk job as an accountant is sexy by any means. I think people would rather say they work in a traditional office setting rather than say they work as a plumber or contractor. Kinda like with teachers, we really undervalue a lot of the jobs that make society function.

[airchitect]

I couldn’t care less if someone finances a watch honestly. That’s a fairly low cost item in the grand scheme. I’m more concerned with a couple, let’s call them Pat n Tammy, who are both 40, earn 50k, have 3 kids, and a mortgage on a 400k mc mansion, and just went underwater trading their 15 expedition on a 20 model and now owe 97,635 for a land yacht.....and prob have a combined 63,448 in student loans.... those are where the real problems lie and it’s all too prevalent. I’d be stoked if a kid chose to finance a Sub over many of those items.


There’s a reason you can’t take out loans in monopoly people.

[Chaching]

Selling a Rolex on Craigslist are you crazy? Aren't you concerned for your safety? No way!!!

[TMEwatch11]

ROLEX is a luxury watch but it's worth the price but not affordable for everyone