Quote:
Originally Posted by HAL330
Do what you want with your money, but I'm out buying assets right now.
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As long as it is not watches as "investment" (cough), it is fine. Maybe. (I personally doubt we have bottomed).
Regarding the watches, it has to be understood that the covid years have been a
statistical anomaly in watch history. Buying a watch from an AD and making an instant gain of 30% or 2x, 3x, etc. was great but it is not healthy and cannot go forever.
An healthy situation (except newly released models or special models): Buy from AD, take a 20% hit, keep the watch for a long time, enjoy it or put it in a safe (who am I to judge), see its value increase every year very little by little but continuously.
About China, the CPC Central Commission for Discipline Inspection is fighting harder than ever on corruption and "bad behavior" (because of the economical issues). Bad behavior includes showing wealth on Internet or publicly.
Zero-covid policy is the tree hiding the forest. The CPC is engaged in big challenges like corruption (bank, elite families, industry moguls, etc), keeping banks afloat (bank run, balance sheets, etc), construction industry (people refusing to pay, out of liquidity companies), technological war with the US (chip), unemployment, thin margins, companies leaving the country, etc.
People forgot that not long ago (2016, after China introduced new anti-corruption laws), Rolex was said to have bought and destroyed gigantic stock of watches (500M CHF by memory) to avoid a market price fall.
Richemont, 2017: "The Swiss watchmaker Richemont has destroyed nearly €500m (£437m) of its designer timepieces over the past two years to avoid them being sold at knockdown prices."
So forget about Chinese mainlanders buying watches or invest for a looong time.
With uncontrolled (now) inflation in most countries, we are heading back to normal. Facts are suborn things. :)
Take care and safe flight.