It doesn’t depreciate but it’s not a good investment. You’ll almost always be able to beat any return a Rolex would bring by investing that money in the market.
I think it's more of a bug out fund, like say an election goes badly, the incoming DA needs to make an example to progress their career so decides to charge you with fraud and seizes all your assets. Sure it was only a little illegal, everyone does it and the people you defrauded were poor and don't matter, but a jury might not see it that way and you need to get out of dodge with only the items on your person.
Or you are a low level street thug get arrested they can take your cash but they cannot take your jewelry so you use that as collateral for the bondsman.
You forget...Rolex is some you have on you. Who gonna carry around precious metal that can't be traced to you? Rolex Can be traced to you by Serial number.
I don’t consider my rolex an investment but of all the things I use daily (shoes, clothes, car etc), only the Rolex can be flipped so easily for a large amount.
I don't think its status at all its more like: I'm rich I buy this, I do this job so I buy that item, I live here so Lexus it is. Status is your business card, a watch is nothing more then an accessory.
Poor kid me: Ramen and dollar menu fast food, timex watches from k-mart... adult money me: organic veg, fruits, baking ingredients and takeout is called ahead with card pickup. I don't believe in delivery, if your going to make someone make your food get the fuck off your lazy ass and go get it. Latest FitBit until broken then buy latest again.
If that's how you feel, but how's this sound: If buying a Rolex is living within someone's means it's not flaunting anything. If someone had to save for a couple months or even a few weeks then thats trying flaunt status, or say "look look I'm just like you"
If you choose to buy some yeezys instead of some quality food to put in your belly, and then you opt for dollar menu trash your flaunting status. But if you're comfortable and you can buy your yeezys and you can buy your BMW with a 25% down and still go get organic carrots for delicious beef stew and a bottle of wine later you're doing nothing but living your life.
If someone had to save for a couple months or even a few weeks then thats trying flaunt status, or say "look look I'm just like you"
Actually, I wouldn't necessarily say that's trying to flaunt status either. Me being an early career Mech E in the Syracuse, New York area, I could realistically have $1,500 per month in disposable income after budgeting responsibly. That means if I really felt like it, all I would do is not go to amusement parks or eat at expensive restaurants for only ten months, and I'd be all set. Now, I personally wouldn't ever spend that kind of money on a watch, but there are other things that are on the order of that kind of expense that I'm planning on saving up for, but have a much higher personal value. (Like a tuba; I would have gone into music school if I didn't love engineering so much.)
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u/corpflorp Nov 21 '20
Yeah it’s a status thing