4 ms·
A decade ago, a Rolex wasn't much cheaper but it was in effect "free", as it was the only watch you could resale at the same price you bought it, even used and
by aredox 3y ago
A decade ago, a Rolex wasn't much cheaper but it was in effect "free", as it was the only watch you could resale at the same price you bought it, even used and scratched. It wasn't an investment (and you didn't need to put it in a safe), but it wasn't a waste of money either.
(The same can't be said of the other luxury watch brands at all - like cars, they lose at least half their value the second you get them.)
Nowadays I don't know, there seems to be more pump and dump.
- extraduder_ire 3y agoYears ago I read somewhere (maybe HN) that much of the utility of these watches is moving cash across borders with less hassle. Since many airports will have stores, you can buy one for cash before getting on a plane and return/sell it on the other end. Purely hearsay though, I've never had to move enough money to try it out.
- tycho-newman 3y agoThey are also fantastic ways of paying a bribe.
- aredox 3y agoAs a pure store of value, a few diamonds or a thin stack of 1000 swiss francs banknotes are more efficient. Expensive watches lose value if worn (with the exception, if it is still valid nowadays, of Rolexes), and customs officers can ask to check them (at least to catch fakes).