PSA: The Daytona costs about $12,000

[prefontaine]

And, during the next recession, you will be able to buy a brand new one for about $10,000.

This has been a public service announcement from your friendly local TRF economist.

[gooter]

I should hire you to manage my portfolio!

[Quamby]

Originally Posted by prefontaine

And, during the next recession, you will be able to buy a brand new one for about $10,000.

This has been a public service announcement from your friendly local TRF economist.

Mon ami,

When will the next recession be?

[prefontaine]

Ask ten economists, get fifteen different answers. ;-)

But probably within 5 years. Seems more likely to be a business cycle contraction than a serious recession.

[Chewbacca]

Finally. Some good news.

[SG56]

Originally Posted by prefontaine

Ask ten economists, get fifteen different answers. ;-)

But probably within 5 years. Seems more likely to be a business cycle contraction than a serious recession.

Great post!

People don't realize that the economy has cycles.

I'm bad with economy, but if i remember one thing from the class, it's the cycles :)

Also worth noting, when it hits, will we all have jobs and have $10k to spare on a watch :D

[Mik8yu]

Originally Posted by SG56

Great post!

People don't realize that the economy has cycles.

I'm bad with economy, but if i remember one thing from the class, it's the cycles :)

Also worth noting, when it hits, will we all have jobs and have $10k to spare on a watch :D

Which is why it’s important to buy a watch that you like, at a price you deem fit and forget about the latter


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[dmash]

Originally Posted by SG56

Great post!

People don't realize that the economy has cycles.

I'm bad with economy, but if i remember one thing from the class, it's the cycles :)

Also worth noting, when it hits, will we all have jobs and have $10k to spare on a watch :D

Every single time the market is hot, without fail, an abundance of people will think in their head 'oh this time is different' and it's not coming back down for a long while. Hence the people buying $20k Daytonas right now. If they didn't buy that watch to keep long term, they're going to be crying in a few years.

Every. Single. Time.

[SG56]

Originally Posted by Mik8yu

Which is why it’s important to buy a watch that you like, at a price you deem fit and forget about the latter


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I know, but i'm not paying for the Daytona over msrp. I can wait.

Rolex better up their shelf stock before the next recession hits.

[SG56]

Originally Posted by dmash

Every single time the market is hot, without fail, an abundance of people will think in their head 'oh this time is different' and it's not coming back down for a long while. Hence the people buying $20k Daytonas right now. If they didn't buy that watch to keep long term, they're going to be crying in a few years.

Every. Single. Time.

Yep, couldn't have said it better!

[rolexpatek363]

Originally Posted by dmash

Every single time the market is hot, without fail, an abundance of people will think in their head 'oh this time is different' and it's not coming back down for a long while. Hence the people buying $20k Daytonas right now. If they didn't buy that watch to keep long term, they're going to be crying in a few years.

Every. Single. Time.

Remember the 16600 Seadweller craze, and the green glass Milgauss craze....?

[101031-28]

Originally Posted by prefontaine

And, during the next recession, you will be able to buy a brand new one for about $10,000.

This has been a public service announcement from your friendly local TRF economist.

That is why I never buy above retail. Never have, never will.

[Chadridv]

Originally Posted by dmash

Every single time the market is hot, without fail, an abundance of people will think in their head 'oh this time is different' and it's not coming back down for a long while. Hence the people buying $20k Daytonas right now. If they didn't buy that watch to keep long term, they're going to be crying in a few years.

Every. Single. Time.

I'll be keeping my watch long term... and crying

[Ballzzz]

I love 12k daytona's, you know a place? lOl

All jokes aside I agree with the OP and many here forget this.

[gccmd]

Originally Posted by 101031-28

That is why I never buy above retail. Never have, never will.

I’m exactly the same

[m j b]

The investment gurus that I follow seem to agree that a recession in the USA is going to be here in two years. Maybe sooner (my take) if the trade wars escalate.

That said; most of the folks who buy new Rolexes are not the type who get laid off in a recession. Sure, our investments may decline and for some, income may drop, but we'll still be employed. So I don't see the sale of new luxury items being affected. Secondary markets, sure.

[dmash]

Originally Posted by m j b

The investment gurus that I follow seem to agree that a recession in the USA is going to be here in two years. Maybe sooner (my take) if the trade wars escalate.

That said; most of the folks who buy new Rolexes are not the type who get laid off in a recession. Sure, our investments may decline and for some, income may drop, but we'll still be employed. So I don't see the sale of new luxury items being affected. Secondary markets, sure.

You’re hanging out too much on a forum and not looking at the real world

Luxury items like watches, handbags, sunglasses etc etc etc are wholly bought by the middle class to exude a sense of wealth. A LOT of Rolex buyers have only one, and save up for a long time to get it.



However yes, been chirping on here for months that the pullback is coming within 2-3 years.

[79280_116520]

are you the same guy wasting time going around to million dollar open houses in the SF Bay Area offering $100K in cash telling the realtors that the recession "is coming"?

[Lordofrolex]

I you have cash on hand a recession is a good thing. Get ready to buy an income property.

[sensui]

Originally Posted by dmash

Every single time the market is hot, without fail, an abundance of people will think in their head 'oh this time is different' and it's not coming back down for a long while. Hence the people buying $20k Daytonas right now. If they didn't buy that watch to keep long term, they're going to be crying in a few years.

Every. Single. Time.

I don't claim to have a crystal ball....But have collected many things in my life...This stuff happens but I think the other spectrum happens just as often...the "I wish I could have bought it back then....." or "I thought it was ridiculous when.....I should've etc."

Not saying this is one of those things, just saying nothing is for certain.

[prefontaine]

http://www.nber.org/cycles/recessions_faq.html

[Fat_ninja]

Originally Posted by gooter

I should hire you to manage my portfolio!

Before or after?

[RobearH]

Originally Posted by Ballzzz

I love 12k daytona's, you know a place? lOl

All jokes aside I agree with the OP and many here forget this.

I read of an AD in Florida that had one...but sadly now its for sale on TRF for $18995!!!

Sorry I missed the all jokes aside part.

[MonsterSS]

Originally Posted by Chewbacca

Finally. Some good news.

[jb335]

Can you make a PSA on when the CA-1 will open up past Gorda?

Thanks

[SoCal_Batman]

We’re long overdue for a correction.

[Ballzzz]

Originally Posted by RobearH

I read of an AD in Florida that had one...but sadly now its for sale on TRF for $18995!!!

Sorry I missed the all jokes aside part.

[OgSnowflake]

I’d bet a grey market ceramic Daytona doesn’t exchange hands for less than 15k bucks for as long as all of us are alive with the exception of like a Vegas pawn shop/owing Leslie chow 80k bucks situation.

[SG56]

Originally Posted by RobearH

I read of an AD in Florida that had one...but sadly now its for sale on TRF for $18995!!!

Sorry I missed the all jokes aside part.

Hahahahaha!

That thread makes me wanna puke. for real.

[climblaw25]

Originally Posted by 101031-28

That is why I never buy above retail. Never have, never will.

Agreed!!!


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