People are really paying 70k on a 5711?

[BreguetRolex]

Originally Posted by uscmatt99

Haha my brother in law is one of those guys. He gave me a Supreme fanny pack, but I guess you're supposed to wear it on the front of your chest? Not really my style, so I let my 10 year old son use it to carry his EpiPen around while we were traveling in London. Which we proceeded to forget at a restaurant one night. When you count the price of the EpiPen, we left a lot of money at the table! That and the whole life-saving medication issue . So back to the restaurant I went

Rimowa Luggage came out with a Supreme Carry On Series and are selling grey market about USD$5000.00

[AK797]

Originally Posted by baglady

I'd argue it has less to do with social media and more to do with low interest rates. Money needs to go somewhere.

We've had low interest rates for nearly a decade and good economic conditions for almost as long, no the recent exhorbitant rise has been in tandem with the rise of the indomitable Gram and all these SM rich kidz and influencers whom more teenagers want to be than doctors and lawyers now; the world of viewing and consuming products, esp luxury products, has clearly completely changed in the last 5 years.

[AK797]

Originally Posted by Calatrava r

Its the people who want the hot thing now and have incredible amounts of money. For someone who earns 200 million a year what is 70K? When these are no longer the cool thing the market corrects to MSRP or just over quickly because people will just not want them as much where they are more attainable. Status of having the impossible is then gone and the watch has to trade on its own merits.

As to my above point, I think it is more the kids of these high earners that are chasing the hot items, I really don't want to believe there are that many middle-aged people who have worked hard and smart and earned their money who are being played and hyped into sustaining these sky high prices.

[Fat_ninja]

Originally Posted by Calatrava r

For someone who earns 200 million a year .

I need to make new friends. I don’t know anyone that makes close to this... lots around 1-10 mil but 200 mil wow. You could buy a country with that type of money.

[chmhill]

tulip mania?

[TJMike]

Originally Posted by Fat_ninja

I need to make new friends. I don’t know anyone that makes close to this... lots around 1-10 mil but 200 mil wow. You could buy a country with that type of money.

I don't know anyone who makes makes even $250k per year

And so not to go off on a complete tangent, Ariel Adams believes luxury watch prices should be increased by 20-80%. So we can soon buy the 5711 at MSRP for $70k
https://www.ablogtowatch.com/on-arie...-a-good-thing/

[martinr]

He’s an idiot.

[qrc36]

US$200 million is the GDP of New Zealand or Greece

... or the combined GDP of Kuwait and Kenya.

https://www.worldometers.info/gdp/gdp-by-country/

[TJMike]

Originally Posted by qrc36

US$200 million is the GDP of New Zealand or Greece

... or the combined GDP of Kuwait and Kenya.

https://www.worldometers.info/gdp/gdp-by-country/

Um, no. You read the figures wrong. The GDP of NZ is almost $205 billion. Greece's GDP is just over $203 billion. Kuwait's is about $102 billion and Kenya's is just over $79 billion.

[pam66]

Originally Posted by Fat_ninja

I need to make new friends. I don’t know anyone that makes close to this... lots around 1-10 mil but 200 mil wow. You could buy a country with that type of money.

Afghanistan?

[WatchLurv]

I guess one of my posts got deleted due to mentioning of some money funneling out of an economy in a funny way.

But reiterating that I've heard stories of people losing 5-10M at casinos a day... 200M would easily be what they make a year or more. The rabbit hole is endless, so yeh...70K is a drop in the bucket for some people; for others (us mortals on TRF) it's a huge chunk for a steel watch that's high in demand. It's hard to fathom and side with such rationale.

[TJMike]

Originally Posted by pam66

Afghanistan?

GDP= $19 billion.

You could buy Tuvalu ($40 million), Kiribati ($186 million), and the Marshall Islands ($204 million).

[cascavel]

Originally Posted by AK797

We've had low interest rates for nearly a decade and good economic conditions for almost as long, no the recent exhorbitant rise has been in tandem with the rise of the indomitable Gram and all these SM rich kidz and influencers whom more teenagers want to be than doctors and lawyers now; the world of viewing and consuming products, esp luxury products, has clearly completely changed in the last 5 years.

I never thought about it this way but I believe you're correct, Social Media has made luxury products an end unto itself and promoting them a lucrative career choice.

[baglady]

Originally Posted by AK797

As to my above point, I think it is more the kids of these high earners that are chasing the hot items, I really don't want to believe there are that many middle-aged people who have worked hard and smart and earned their money who are being played and hyped into sustaining these sky high prices.

Yes but interest rates have gone negative only recently, and we only reached peak late cycle recently as well. This kind of stuff always happens late cycle--inflated valuations across the finest of fine arts, creme de la creme watches, etc.

[AK797]

Originally Posted by baglady

Yes but interest rates have gone negative only recently, and we only reached peak late cycle recently as well. This kind of stuff always happens late cycle--inflated valuations across the finest of fine arts, creme de la creme watches, etc.

There are many global reasons why luxury goods have been in high Veblen demand these past 3/4 years, all well documented here, but I think SM has been the catalyst to take prices to these crazy next levels. I'm not a young gun anymore so I'm not always up to date on the hype power of SM but when I do have a look its influence is absolutely enormous; just as the revolutionary iphone has changed most peoples lives hugely, so SM has and will revolutionise how and why we consume things.

[AK797]

Originally Posted by cascavel

I never thought about it this way but I believe you're correct, Social Media has made luxury products an end unto itself and promoting them a lucrative career choice.

The big under 30s reality show over here is Love Island and the winning couple who finds love shares a prize of £50K, but then when they leave the most popular ones will become brand ambassadors for clothing/make up lines etc and will make over £1m each, and ofc nearly all the couples break up soon after the show ends. The show like everything else just becomes about the $$$$ and the followers and the power of having influence over the young sheep.

And far more people applied to be on LI than applied to go to Cambridge and Oxford Universities, soon it will be 3/4 times as many.

[pam66]

Originally Posted by TJMike

GDP= $19 billion.

You could buy Tuvalu ($40 million), Kiribati ($186 million), and the Marshall Islands ($204 million).

that would be a start.

[WatchLurv]

Originally Posted by AK797

The big under 30s reality show over here is Love Island and the winning couple who finds love shares a prize of £50K, but then when they leave the most popular ones will become brand ambassadors for clothing/make up lines etc and will make over £1m each, and ofc nearly all the couples break up soon after the show ends. The show like everything else just becomes about the $$$$ and the followers and the power of having influence over the young sheep.

And far more people applied to be on LI than applied to go to Cambridge and Oxford Universities, soon it will be 3/4 times as many.

Most of them dont make it. It's like 1 out of many of them that does make it in the 1M league from all their endorsements.

There's a reason why Tommy Fury and Josh Denzel both are wearing fake watches (Lolex and Patek Filipz respectively). Both boast over 1M followers.

Each follower is worth about...Nothing. Overpaid nonsense on social media.

[pam66]

Originally Posted by AK797

......

And far more people applied to be on LI than applied to go to Cambridge and Oxford Universities, soon it will be 3/4 times as many.

personally, i am very grateful for that:::)))

[Murcielagoboy2]

I don't know of any PP/watch enthusiasts that have shelled out that kind of money for a 5711.
No-one. And I know a lot of these guys.

[dauster]

Originally Posted by FTX I

Dear friends I know I don't belong here. Just an honest question please. Do you think people are really giving 70k on an 5711?

Another one?!?! (thread like this)

[Bearxj86]

To me still the perfect watch. Need 1 and then sell the others if I get em :)

I don't see many of the folks on the forums in a rush to sell at 70k to be honest. Some do but majority don't. Shows you the demographic of who actually buys these things.

[FTX I]

Originally Posted by dauster

Another one?!?! (thread like this)

The thread is interesting and people are discussing the topic politely. If you don't like the thread don't post.

[AK797]

Originally Posted by WatchLurv

Most of them dont make it. It's like 1 out of many of them that does make it in the 1M league from all their endorsements.

There's a reason why Tommy Fury and Josh Denzel both are wearing fake watches (Lolex and Patek Filipz respectively). Both boast over 1M followers.

Each follower is worth about...Nothing. Overpaid nonsense on social media.

But quite a lot do, I think 3 girls have clothes deals now with Pretty Little Things, Boohoo and Missunderstood or something like that, Tommy does too I think and Ovie can get anything he wants, while others go on to Dancing On Ice and the endless dating/tattoos etc reality TV show circuit. Every year more and more will make a million from getting this LI break, I guess 6/7 could make some serious cash this year, it is now basically Love Brands Island.

[GB-man]

Originally Posted by TJMike

Um, no. You read the figures wrong. The GDP of NZ is almost $205 billion. Greece's GDP is just over $203 billion. Kuwait's is about $102 billion and Kenya's is just over $79 billion.

I was going to say bull

[Aquaman]

Originally Posted by AK797

But quite a lot do, I think 3 girls have clothes deals now with Pretty Little Things, Boohoo and Missunderstood or something like that, Tommy does too I think and Ovie can get anything he wants, while others go on to Dancing On Ice and the endless dating/tattoos etc reality TV show circuit. Every year more and more will make a million from getting this LI break, I guess 6/7 could make some serious cash this year, it is now basically Love Brands Island.

You do know yiur love island :

[WatchLurv]

Originally Posted by AK797

But quite a lot do, I think 3 girls have clothes deals now with Pretty Little Things, Boohoo and Missunderstood or something like that, Tommy does too I think and Ovie can get anything he wants, while others go on to Dancing On Ice and the endless dating/tattoos etc reality TV show circuit. Every year more and more will make a million from getting this LI break, I guess 6/7 could make some serious cash this year, it is now basically Love Brands Island.

I think we should take it with a pinch of salt too. It's a supposedly 500K GBP deal with Boohoo or XXXX-brand. After taxes, wearing their stuff exclusively for God knows how long it is 250K after the tax-man has been there. I also doubt they get such "wages" monthly; these guys live off the freebie-bandwagon for about a year and then they disappear into nothing, when a new season is out.

Reality stars dont make it like we are supposed to believe they do. Look at Muggy Mike who hung himself because he was depressed and in debt. 600K followers on Instagram and in debt. It's not like he wasn't selling his name/brand/face etc.

Oh and Tommy Fury has a fake watch on. A fake 116681. Im sure you can go out and buy that outright (as real) if you've just signed a 500K deal with boohooman. They make us believe it more than what it really is.

[shaunylw]

Originally Posted by TJMike

I don't know anyone who makes makes even $250k per year



And so not to go off on a complete tangent, Ariel Adams believes luxury watch prices should be increased by 20-80%. So we can soon buy the 5711 at MSRP for $70k

https://www.ablogtowatch.com/on-arie...-a-good-thing/

Just scroll around the forum lol. You will probably see 20 in this thread. 20-80% is such a garbage hypothesis. Imagine if that were real. Your house is either worth 550k or potentially $880,000.


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[shaunylw]

Oh i see now, it mentioned msrp increasing by 20-80%. Rolex could use a bit of that.


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[GreenLantern]

I'm sorry, but no. I'm a fan of Ariel's, but that article is nuts.

Do that and watch Rolex and Patek sales stall.

The current state is exactly what Rolex and Patek want.