4 ms·

It’s $500k in investment, not consumption. These folks expect to be able to resell the object later.

• shiroiushi 2y ago
  That makes just as much sense as buying a diamond as an "investment".
  • tasuki 2y ago
    Or, really, any other collectible. Old cars are the same thing. They're not practical to get around...
    • defrost 2y ago
      Oddly enough I live in a very small town where it's a point of pride to drive in and about with cars from the 1920s, 30s and 40s .. tractors from the 1950s are in use on back market garden paddocks, etc. It's a state "founders" town and there's a lot of generational wealth being flexed keeping old stuff running and in use. It's modern John Deere's etc on the 4,000 acre farms of course, but still driving a "classic" farm truck to town because it was Granddad's first truck and renno'd when it was found at the back of the old barn.
    • shiroiushi 2y ago
      Not necessarily. They have old car auctions for wealthy people (like Barrett-Jackson) where certain models really do fetch as much as owners paid for them, or more. It's still a gamble, but I think your odds of at least holding your value with a classic car are much better than with a watch. I could be wrong of course; I know a lot more about cars than I do overpriced luxury watches, after all. But I suspect the watches are much more like diamonds: only "valuable" to the initial buyer (and mainly for sentimental reasons), and largely worthless to everyone else. (Yes, a resale market for used Rolexes and the like exists, but you're not going to get the same price for your 20-year-old Rolex as you paid for it.)