"He owns a Rolex so he must be rich !!"

[yoniman]

Reading all your responses makes me "feel" rich
Stay safe and happy everyone...

[Posh Gentleman]

nah. rolex doesn't equal wealth by any means.

most SS rolex retails for $10k or slightly more than this. most other "luxury" watch brands have similar retail prices. look at panerai, iwc, jlc, and even hublot - these have many models that retail for $10k or more.

rolex is barely pricier than other brands tho, not factoring in the secondary grey prices.

to me, rich means a 7 bedroom mansion in the Hamptons and a Rolls. not some $10k SS watch. lol

Rolex is very much of an attainable luxury for the masses. also a smart luxury indulgence I'd say, compared to luxury cars. unlike luxury cars, you don't get to blow money on maintenance, insurance premiums, parking costs, traffic tickets, gas, and massive depreciation.

[Cambo]

I look at my buddy who is raising two daughters in university (I don’t have kids) and all I can think is “man, you must be rich”.

[Krash]

Originally Posted by Posh Gentleman

nah. rolex doesn't equal wealth by any means.

Rolex is very much of an attainable luxury for the masses. also a smart luxury indulgence I'd say, compared to luxury cars. unlike luxury cars, you don't get to blow money on maintenance, insurance premiums, parking costs, traffic tickets, gas, and massive depreciation.

Maybe for some people on TRF that’s true.

For the general population and the masses of people out there, a $2000 Tag Heuer is an unaffordable luxury watch that’s too expensive for them to buy.

That’s why you never see Tag Heuer boutiques in one of those low rent shopping centers next to a Dollar General, a liquor store, a dry cleaners and a nails salon.


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[Posh Gentleman]

Originally Posted by Krash

Maybe for some people on TRF that’s true.

For the general population and the masses of people out there, a $2000 Tag Heuer is a luxury watch that’s unaffordable.

That’s why you never see Tag Heuer boutiques in one of those low rent shopping centers next to a Dollar General, a liquor store, a dry cleaners and a nails salon.


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there is a difference between being decently well off compared to average working class vs being rich.

being able to drop $10k on a rolex is far cry away from being considered rich.

also, you don't even need to be well off financially to buy a rolex, tbh. my best friend - he has zero savings and carries credit card debt. makes low six figures a year. he blows all his money on 6-10 international trips a year, and each weekend of drinking and dining out with girls. he takes loans from banks to finance his trips many times.

theoretically he can take out loans from banks to buy a rolex, if he really wanted.

[swexlin]

Didn't read the whole thread, so maybe this has been mentioned.

I could go blow $100 grand on a new Ram TRX. If I drove it to my office (if I still worked at my office LOL) people would say "nice truck" but wouldn't think much more of it than a new truck to replace my current 2016 Ram.

However, I could purchase a new Benz sedan for half that, and if I drove THAT into my office, people would be - wow, you must be pulling it in, driving that new Benz.

As people relate Mercedes Benz to big $$ (and to be sure, they can be!) they think of Rolex the same way.

[Krash]

Originally Posted by Posh Gentleman

there is a difference between being decently well off compared to average working class vs being rich.

being able to drop $10k on a rolex is far cry away from being considered rich.

also, you don't even need to be well off financially to buy a rolex, tbh. my best friend - he has zero savings and carries credit card debt. makes low six figures a year. he blows all his money on 6-10 international trips a year, and each weekend of drinking and dining out with girls. he takes loans from banks to finance his trips many times.

theoretically he can take out loans from banks to buy a rolex, if he really wanted.

Yes. Posers. They’re out there.

A Rolex is something you buy with spare pocket change that’s laying around the house.

If you have to take out a loan, finance it, or save for several years to buy one, then I’d classify that as not being able to afford one.


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[shaunylw]

Originally Posted by swexlin

Didn't read the whole thread, so maybe this has been mentioned.

I could go blow $100 grand on a new Ram TRX. If I drove it to my office (if I still worked at my office LOL) people would say "nice truck" but wouldn't think much more of it than a new truck to replace my current 2016 Ram.

However, I could purchase a new Benz sedan for half that, and if I drove THAT into my office, people would be - wow, you must be pulling it in, driving that new Benz.

As people relate Mercedes Benz to big $$ (and to be sure, they can be!) they think of Rolex the same way.

Lol yes, 100%. That’s exactly how people think.


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[JRell]

The good thing about Rolex compared to a Mercedes or a Ram truck, they don’t loose have their worth out the door.

[swexlin]

Originally Posted by JRell

The good thing about Rolex compared to a Mercedes or a Ram truck, they don’t loose have their worth out the door.

Correct. And I've blown some money on cars over the years...

[Chester01]

Listen. This is exactly what Rolex wants folks to think. This is their doing. They play up the fake scarcity aspect, are associated with celebrities, everyone and their uncle posts pics all over their instabook with their Rolex at god knows where. I mean this is the image Rolex wants to portray now. They were once the original gshocks, outfitted some of the best military outfits in the world, and while expensive were attainable. They kept raising prices, making them more blingy, and far outpaced inflation. Seiko divers have a somewhat similar heritage in that they were used by military, divers, and expositions and are about the same price adjusted for inflation as they were 40 years ago. Rolex wants to be associated with prestige and exclusivity and so that’s the baggage they created like Jacob marley’s chain…link by link.

[JRell]

Originally Posted by swexlin

Correct. And I've blown some money on cars over the years...

Fun toys though! My neighbor just got a new Ram truck. Man they have stepped up their interior.

[DaveTheWatchGuy]

Originally Posted by calebb90

Everyone’s rich to somebody


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Best answer!




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[Posh Gentleman]

Originally Posted by Krash

Yes. Posers. They’re out there.

A Rolex is something you buy with spare pocket change that’s laying around the house.

If you have to take out a loan, finance it, or save for several years to buy one, then I’d classify that as not being able to afford one.


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what you describe is a common sense approach to consumption. i've found out from many folks i've met - many, many ppl are god awful with finances.

living above the means and financing all sorts of things you dont need with the money you don't have (credit cards, loans) is kinda how the modern American economy rolls nowadays.

it is the ultimate transfer of money from dumb to smart. dumb = working bees that slave away and take debt to finance vacations, homes, cars, luxury items that they can't afford. smart = banks, credit card companies, shareholders in the S&P 500 index funds.

[mooty]

it's all relative. we have clients who flies their G8 from SF to NY for a dinner and flight right back. the jet fuel cost makes rolex as cheap as toilet paper. then there are ppl who work hard and still struggle to provide for the family, the rolex is a rich man's toy. we are bless to have these time pieces.

[zengineer]

Originally Posted by swexlin

Didn't read the whole thread, so maybe this has been mentioned.



I could go blow $100 grand on a new Ram TRX. If I drove it to my office (if I still worked at my office LOL) people would say "nice truck" but wouldn't think much more of it than a new truck to replace my current 2016 Ram.



However, I could purchase a new Benz sedan for half that, and if I drove THAT into my office, people would be - wow, you must be pulling it in, driving that new Benz.



As people relate Mercedes Benz to big $$ (and to be sure, they can be!) they think of Rolex the same way.

That's very true. 20 years ago I had a 2003(?) F-150 King Ranch. Don't recall what it cost but the same truck today would be $75k and up. I was building a new house in 2005 and wanted a beater long box pickup so I sold the truck for around 40k and spent $3000 on a 1992 base model pickup, then added a 1999 BMW 3 series that was around $17k to drive to work. My neighbor at the time asked if I got a big pay raise and promotion at work.

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[inadeje]

Interesting data below. Especially when then brought into perspective of this thread.

The number of Americans who would be able to cover an unexpected $1,000 expense has held steady at between only 37% and 41% since 2014, according to Bankrate’s annual surveys.

The Federal Reserve notes that 30% of all Americans don’t have enough cash in savings to cover even a $400 emergency. And Bankrate’s most recent survey shows that nearly one in five Americans have no money saved at all to cover an emergency expense.

https://www.sofi.com/learn/content/a...avings-by-age/

[Matteo E]

Originally Posted by Krash

Yes. Posers. They’re out there.

A Rolex is something you buy with spare pocket change that’s laying around the house.

If you have to take out a loan, finance it, or save for several years to buy one, then I’d classify that as not being able to afford one.


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I didn’t buy my BLRO with “pocket change”, but I think I did alright getting it at retail from an AD.

I’m wearing a world class watch that I could cash out for a considerable profit at any time if needed.

[Krash]

Originally Posted by inadeje

Interesting data below. Especially when then brought into perspective of this thread.

The number of Americans who would be able to cover an unexpected $1,000 expense has held steady at between only 37% and 41% since 2014, according to Bankrate’s annual surveys.

The Federal Reserve notes that 30% of all Americans don’t have enough cash in savings to cover even a $400 emergency. And Bankrate’s most recent survey shows that nearly one in five Americans have no money saved at all to cover an emergency expense.

https://www.sofi.com/learn/content/a...avings-by-age/

Like I said above, a $2000 Tag Heuer is a luxury watch well beyond the financial means of the general population.

Do some working class / middle class acquire a Rolex? Yes, they do, but a Rolex, Omega, and even a Tag Heuer or a Nomos are well beyond the financial means for the masses of people on a global scale.

Also , people on TRF are not representative of society as a whole. A few folks on TRF might think that Rolex is not a rich man’s watch, but that’s not what the public thinks.


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[Posh Gentleman]

Originally Posted by Krash

Like I said above, a $2000 Tag Heuer is a luxury watch well beyond the financial means of the general population.

Do some working class / middle class acquire a Rolex? Yes, they do, but a Rolex, Omega, and even a Tag Heuer or a Nomos are well beyond the financial means for the masses of people on a global scale.

Also , people on TRF are not representative of society as a whole. A few folks on TRF might think that Rolex is not a rich man’s watch, but that’s not what the public thinks.


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in coastal u.s. cities like nyc, la, sf metro, you can't even buy a 3 bedroom home for less than $1M in nicer neighborhoods.

agree there is a lot of poverty in the country, esp. in the rural areas. but you can be sure as heck that being able to "afford" a $10k rolex watch is no means a reflection of wealth, by any means.

unless your definition of "rich" is vastly different from mine. to me, a rich person shouldn't have any problem with being able to purchase a modest sized home in an urban area.

[wez004]

I think it is probably you who starts the conversation by putting out to your peers talk of buying expensive wristwatches which they would never consider or even afford. I think you’re showing off and like the attention, I’m not criticising and there’s nothing wrong with flexing a bit of wealth as long as it’s not vulgar. Just out of interest do you own a Rolex?

I own several Rolex watches but I wear them for myself. It’s only fellow watch enthusiasts who really know and most of the time I get through life without much attention, exactly how I like it. Most of the time my watch resides under my shirt sleeve unless it’s teeshirt weather. I’ve been wearing Rolex watches for 20 years and I never draw attention to the fact I’m wearing thousands of pounds worth of watch unless I’m at a posh do and one of my datejusts is acting as a dress watch.

[np2016]

Money and being rich aka your liquid net worth are all relative to each individuals circumstance and personal opinion. There are people on this forum who may think a $1 million dollar liquid net worth is living the American dream versus someone else on this forum who couldn't even fathom only having a $1 million liquid net worth. Moral of the story always be grateful for what you have and there will always be someone doing better than you and someone else doing worse that's just life.

[Gladiat0r]

Originally Posted by Posh Gentleman

in coastal u.s. cities like nyc, la, sf metro, you can't even buy a 3 bedroom home for less than $1M in nicer neighborhoods.

agree there is a lot of poverty in the country, esp. in the rural areas. but you can be sure as heck that being able to "afford" a $10k rolex watch is no means a reflection of wealth, by any means.

unless your definition of "rich" is vastly different from mine. to me, a rich person shouldn't have any problem with being able to purchase a modest sized home in an urban area.

Originally Posted by mooty

it's all relative. we have clients who flies their G8 from SF to NY for a dinner and flight right back. the jet fuel cost makes rolex as cheap as toilet paper. then there are ppl who work hard and still struggle to provide for the family, the rolex is a rich man's toy. we are bless to have these time pieces.

Exactly. Different countries, states, towns…they all have their own version of rich. In some areas, owning a submariner may equate extreme wealth and jealously. In other areas, it just means you have good taste.

[mulberry083]

Originally Posted by JRell

The good thing about Rolex compared to a Mercedes or a Ram truck, they don’t loose have their worth out the door.

Couldn’t agree more. Some folks are fortunate enough to be able to afford all the toys (Mercedes, boat, Rolex), but for others it’s a matter of priority. I’d personally rather purchase a Rolex that I can enjoy and eventually hand down to a child or grandchild than purchase a more expensive car or boat.

[teck21]

It is not so much the absolute price of a Rolex. For most human beings, it is reasonable to assume that the watch one wears is very very far down the list of spending priorities for anyone.

To spend a large-ish amount of money on one will therefore imply wealth, or at the very least a margin of financial comfort.

People often say they buy themselves a Rolex as a dwarf for hard work, success etc.

This surely begs the question: in a world full of endless choices for reward and fulfilment via monetary means, why is Rolex such a popular choice?

Because of the signal it sends.


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[teck21]

Originally Posted by mulberry083

Couldn’t agree more. Some folks are fortunate enough to be able to afford all the toys (Mercedes, boat, Rolex), but for others it’s a matter of priority. I’d personally rather purchase a Rolex that I can enjoy and eventually hand down to a child or grandchild than purchase a more expensive car or boat.

It is, real cornerstone of Rolex brand strength.

And getting stronger and stronger with each additional watch not manufactured to meet demand.


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[jestrada]

OP, why would you even talk about your watch/plans of buying your next watch to normal,
non-WIS people? That’s just begging for a reaction typical to what you described.

If you really feel the urge to talk about watches or your next planned purchase, that’s what this forum is for


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[huncho]

Originally Posted by Posh Gentleman

what you describe is a common sense approach to consumption. i've found out from many folks i've met - many, many ppl are god awful with finances.

living above the means and financing all sorts of things you dont need with the money you don't have (credit cards, loans) is kinda how the modern American economy rolls nowadays.

it is the ultimate transfer of money from dumb to smart. dumb = working bees that slave away and take debt to finance vacations, homes, cars, luxury items that they can't afford. smart = banks, credit card companies, shareholders in the S&P 500 index funds.

it really is shocking how bad the majority of adults are with finances and investing. the fact that the most common investment advice they give is "buy a house" is sad, mostly because their idea of buying a house is taking out a 30 year mortgage on a something way above their means, and another because your primary house is not an investment. what are you gonna do, sell it for profit eventually and then downgrade? lol

on top of that, besides their 401k, most people aren't investing. i only got into investing in the last 3-4 years so it's not like i'm experienced or advanced, but i'm still glad i did it that early. it really opens your eyes though and makes you realize how bad it is among most "normal" adults

[SeeDweller]

Despite some of the disparaging comments early on, this thread has turned out to be really entertaining, creative, and very educational.

What a great group we have!!! .


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[Dirt]

Originally Posted by teck21

It is not so much the absolute price of a Rolex. For most human beings, it is reasonable to assume that the watch one wears is very very far down the list of spending priorities for anyone.

To spend a large-ish amount of money on one will therefore imply wealth, or at the very least a margin of financial comfort.

People often say they buy themselves a Rolex as a dwarf for hard work, success etc.

This surely begs the question: in a world full of endless choices for reward and fulfilment via monetary means, why is Rolex such a popular choice?

Because of the signal it sends.


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I have to disagree a bit there.
Some people also buy a Rolex because of it's capacity to hold resale value or appreciate. Some references are better at appreciating and they happen to be at the more affordable end of the Rolex price spectrum.

But it 's not just Rolex, as there are a number of other brands which offer similar advantages.

Just today, I saw an article on the internet where people were lining up outside and down around the corner of a Rolex dealer in South Korea. They reportedly started lining up as early as 0200 or something like that, with the numbers swelling to around 70-80 by the time the doors opened.
Reasons varied for wanting to pick up a Rolex, but the overall impression was some were doing it for monetary gain.
The article went into further detail and mentioned financial figures for Rolex in South Korea and how Rolex seemed to be focused on manipulating the market by creating shortages.

I wish I could post links to the article and stuff like that to share, but i'm confident members that are more savy will be able to find it with ease after a quick google