Rolex- the stupidest, lamest company

[Ontario Hunter]

I don't get why everyone calls a Rolex an investment. I could annually buy 90 years worth of GShocks to purchase the entry level Rolex. I guess I'm confused on how buying a watch that barely keeps up on inflation would justify passing investing $5-10K elsewhere....

Right. And my investments in the market and bonds are putting people to work ... in theory anyway. An expensive collectable (eventually ... maybe) watch is like putting my money in a pillowcase.

 

[Ontario Hunter]

Some years ago, a small, but respected, investment firm did a broad study to identify the best performing investments. The top investment was not a stock, or even a commodity like oil, but a baseball card. In this pre-Uber era, a NYC taxi medallion came up second or third. If memory serves well, emerging market debt (or stocks), outperformed US equities. I know a lot of guys who make their living in markets enjoy collecting art, and watches - and not just for the reasons that seem common. These people are attracted to markets that they can control, and that are not regulated by SEC. They buy art, warehouse, market the artists, and sell into the market they create. Same is true for some watches but the prices pale in comparison to a Basquiat, or whatever else. Lots of talk these days about if investors can afford to be illiquid, ie, warehouse stuff and let the value come out in a decade or so. Is Rolex doing some of all that? Wouldn’t be the least surprised.

Now we're talking about tax dodge investing. Yes, art, watches, antiques, etc. are easily (sometimes) liquidated without the all-seeing eye of the IRS. Capital gains go into the pocket. Personally, I don't have a problem paying my taxes on dividends and sales of investments. It's part of my civic duty. The price of living in a free country. I'll pay my part of the bill to protect freedom and crush terrorism.

 

[Rimbaud]

Now we're talking about tax dodge investing. Yes, art, watches, antiques, etc. are easily (sometimes) liquidated without the all-seeing eye of the IRS. Capital gains go into the pocket. Personally, I don't have a problem paying my taxes on dividends and sales of investments. It's part of my civic duty. The price of living in a free country. I'll pay my part of the bill to protect freedom and crush terrorism.

Stated like a Canadian

 

[Tango]

Now we're talking about tax dodge investing. Yes, art, watches, antiques, etc. are easily (sometimes) liquidated without the all-seeing eye of the IRS. Capital gains go into the pocket. Personally, I don't have a problem paying my taxes on dividends and sales of investments. It's part of my civic duty. The price of living in a free country. I'll pay my part of the bill to protect freedom and crush terrorism.

I'm so confused........ Yesterday I was an evil, Rolex-hoarding, sock-less, mid-life crisis, puppy killer who overpays for oil changes in my sports car.......and today I'm a tax-dodging freeloader avoiding my civic duties. Hhhhhhmmmm, I didn't feel like such a horrible person when I was working for the US Govt in Baghdad 2003-2004 wearing a G-Shock and carrying an MP5

 

[375 Ruger Fan]

Right. And my investments in the market and bonds are putting people to work ... in theory anyway. An expensive collectable (eventually ... maybe) watch is like putting my money in a pillowcase.

When somebody buys a watch, does it not support watchmakers?

If you stuff money in a pillowcase, does it not support pillowcase makers? Textile workers? Cotton farmers?

 

[375 Ruger Fan]

I'm so confused........ Yesterday I was an evil, Rolex-hoarding, sock-less, mid-life crisis, puppy killer who overpays for oil changes in my sports car.......and today I'm a tax-dodging freeloader avoiding my civic duties. Hhhhhhmmmm, I didn't feel like such a horrible person when I was working for the US Govt in Baghdad 2003-2004 wearing a G-Shock and carrying an MP5

A man of many talents!

 

[Tango]

When somebody buys a watch, does it not support watchmakers?

If you stuff money in a pillowcase, does it not support pillowcase makers? Textile workers? Cotton farmers?

I hope so, my wife likes nice sheets

 

[Bonk]

I read through 7 pages, got the gist of the thread and then skipped to the end. I used to own a Rolex I bought new around 1992. I enjoyed wearing it for about 15 years and then I sold it. I now own 5 Omegas and a Breitling. I wouldn't mind owning another Rolex but the quality of their watches in no way justifies the absurd pricing and ridiculous treatment of customers. The used Rolex market is in a free fall and that makes me very happy. I hate flippers and the gray market.

 

[Rimbaud]

Right. And my investments in the market and bonds are putting people to work ... in theory anyway. An expensive collectable (eventually ... maybe) watch is like putting my money in a pillowcase.

You don't get this, or you don't want to get this. Many studies done about how many jobs the financial industry creates in support of the business. You can google it and find out. The idea that finance exists on a self-contained island of the rich who ride unicorns is almost as ridiculous as paying top tax rates to wasteful governments.

 

[Bud Meadows]

My older son graduated from high school in 1989 and I asked him what he wanted for his graduation present “A Rolex”. I bought him a Rolex Air King for $800 at my local jeweler in Birmingham MI. After a week or so I thought it was ridiculous that an 18 year old had a Rolex and I didn’t so I bought myself another Air King. My second son also wanted a Rolex so I went back to the same dealer and bought another Air King with a distinctive blue face. By now my jeweler and I were on a first name basis. Finally my wife got one as an Anniversary gift but the Ladies Air King was 50% more expensive since it’s so petite and more expensive to manufacture. My jeweler asked if I had any more kids, but my fourth purchase was my last. 35 years later, all four Air Kings are still running fine.

 

[Tango]

Love these stories

 

[WyoBull]

Love these stories

I do too, Tango. It seems to me like every really nice watch purchase has a story behind what drove the buyer to purchase it.
Purchasing a nice timepiece like this is not something you just wake up one morning and say, “Hey, I think I will go down and buy a (name your brand) watch today.

 

[WAB]

Now we're talking about tax dodge investing. Yes, art, watches, antiques, etc. are easily (sometimes) liquidated without the all-seeing eye of the IRS. Capital gains go into the pocket. Personally, I don't have a problem paying my taxes on dividends and sales of investments. It's part of my civic duty. The price of living in a free country. I'll pay my part of the bill to protect freedom and crush terrorism.

I’m not sure you understand what Justin is actually doing with your money!

 

[375 Ruger Fan]

A young man was caught red handed shoplifting while he was trying to steal a Rolex watch from an exclusive jewellery store.

The shoplifter said to the jewellery store manager, “I’m really sorry. I would rather the police didn’t get involved. I know you probably don’t want all the fuss and bother either. How about if I just buy the watch and we forget about this?”

The manager agreed and had one of the store assistants write up the sales slip.

The shoplifter looked at the sales slip, gulped and asked, “This is a little more than I intended to spend. Can you show me something less expensive?”

 

[Tango]

I do too, Tango. It seems to me like every really nice watch purchase has a story behind what drove the buyer to purchase it.
Purchasing a nice timepiece like this is not something you just wake up one morning and say, “Hey, I think I will go down and buy a (name your brand) watch today.

Agreed. I've had some great conversations with guys and gals after asking about their watches. There's usually a good backstory

 

[Velo Dog]

Amigos y Amigas,

I don’t know why I like this thread so much but indeed, I do ….. indeed and indeed.
That said, old Velo Dog generally does not wear a watch.
However, when I do bother to wear one, it is a humble Timex, Expedition Model.
“Cheap, Brown and Reliable”, as shown in the attached pic below.

I think I paid $20. USA dollars for the first one I bought.
It lasted many long years and was still keeping perfect time when I finally lost it.
When I bought the replacement (shown in said picture), seems like I paid $40. USA Dollars for same.

In furtherance of that thought, if I was wealthy (and if a frog had wings), I’d collect vintage USA Railroad Pocket Watches.
No offense intended, just saying.

On that note, I applaud those of you who dig on Rolex wrist watches.
Those do not hold my gaze but, I am all for each person striving for whatever makes them smile.

You good fellow’s affection for expensive (super expensive) wrist watches is comparable to my affection towards proper Model ‘98 Mausers, their reasonable descendants, proper SxS double rifles and shotguns, plus certain single shot rifles as well.
Furthermore, I am riveted by a narrow category of fly rods, reels, certain specific handguns and well made pocket knives as well.
So I get it …. in a round about way.

Anywhooo and again, I have really enjoyed this thread.
Thanks for posting.

Cheers,
Velo Dog.

 

[Ontario Hunter]

Stated like a Canadian

Actually, I'm an American living in Canada.

 

[cls]

Stated like a Canadian

HEY, don't paint us all with the same brush. Just saying.

 

[Aaron N]

Stated like a Canadian

Hey, we don’t want him much either….

 

[HankBuck]

Right. And my investments in the market and bonds are putting people to work ... in theory anyway. An expensive collectable (eventually ... maybe) watch is like putting my money in a pillowcase.

Ontario based on your previous Posts - I think if a Rolex was ever strapped to your wrist You’d have an allergic reaction.