Will Pateks keep dropping?

[Jamesd20]

Originally Posted by DonLee

Also if I bought a house at $100k, and later sold it for $1 million 20 years later. I would have turned $100k into $ 1million. Did the person who bought it lose money? No, he can sell it back for around $1 million and get it back.

You can argue that no physical money was created in the process of investments, but actual value and wealth, definitely.

Except where they can’t sell the house for £1m as they can only get 500k.

[superdog]

this thread has officially gone off the rails.

[beshannon]

Originally Posted by superdog

this thread has officially gone off the rails.

As has much of the forum to be sure.

[mongrelnomoad]

Originally Posted by DonLee

Also if I bought a house at $100k, and later sold it for $1 million 20 years later. I would have turned $100k into $ 1million. Did the person who bought it lose money? No, he can sell it back for around $1 million and get it back.

You can argue that no physical money was created in the process of investments, but actual value and wealth, definitely.

Um. You've got this ass-backwards. Guy one HAS $1m. Guy two has a house - the value of which is tied to the market, but which is meaningless until it's realised. He basically has a house in lieu of money.

And there are many different types of money - M1, M2, M3 etc. Money isn't like energy, it doesn't just move around. It can be created and destroyed - after all, it's an entirely human-created concept.

[rolexpatek363]

Originally Posted by beshannon

As has much of the forum to be sure.

It's all about the cash, who cares about watches anymore?

[GB-man]

Originally Posted by superdog

this thread has officially gone off the rails.

My bank called they said they need to margin call my Pateks. Little do they know I pancake flopped my Patek tendies into Nigerian sovereign wealth NFTs and am two air drops away from receiving my first monkey butt stains token.

Some people don’t know how to make money in this economy.

[wjv4200]

LMaO

[77T]

Originally Posted by superdog

this thread has officially gone off the rails.

I’m not sure it ever was on the rails.

The OP was a scammer, called out, banned, and all his fake listings removed…so…yeah…officially.

Thanks to the Mods! Now we’ve busted another one off the train.


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[bin31z]

Originally Posted by GB-man

My bank called they said they need to margin call my Pateks. Little do they know I pancake flopped my Patek tendies into Nigerian sovereign wealth NFTs and am two air drops away from receiving my first monkey butt stains token.

Some people don’t know how to make money in this economy.

You joke but people are literally doing what you are saying. Like crypto hedge funds staking coins to borrow money to buy more and weirder coins and digital art. These are HEDGE FUNDS doing this.

[Incroyable12]

Moda Group is already warning about previously trustworthy dealers who are deep in debt and unable to deliver.

[huncho]

Originally Posted by bin31z

You joke but people are literally doing what you are saying. Like crypto hedge funds staking coins to borrow money to buy more and weirder coins and digital art. These are HEDGE FUNDS doing this.

yup lol but stupidity doesn't get you far and a lot of them got liquidated. unfortunately they ruined the entire market with them

[7sins]

Pretty wild the fraud on Moda these days...one of those special LE datejust subs

[macrowatch]

Things must be bad for dealers if they can’t sustain a 200 bps bump in thier line of credit capital costs.

On a separate note, I wonder how much demand destruction has happened on Tesla cars that are 100k plus if they start texting customers informing them they can get one tommorw if paid today (presumably another person delayed delivery).

Maybe I’ll finally be able to get a 5164!

[DonLee]

Originally Posted by macrowatch

On a separate note, I wonder how much demand destruction has happened on Tesla cars that are 100k plus if they start texting customers informing them they can get one tommorw if paid today (presumably another person delayed delivery).

Maybe I’ll finally be able to get a 5164!

I guess when your portfolio gives back all the gains in the past 2 years, you have to rethink, is buying a 100k plus luxury item a smart choice anymore.

[Calatrava r]

Originally Posted by DonLee

I guess when your portfolio gives back all the gains in the past 2 years, you have to rethink, is buying a 100k plus luxury item a smart choice anymore.

This is a huge part of the rethinking and perhaps repricing of luxury goods at the moment.

[ChetBaker]

Originally Posted by GB-man

My bank called they said they need to margin call my Pateks. Little do they know I pancake flopped my Patek tendies into Nigerian sovereign wealth NFTs and am two air drops away from receiving my first monkey butt stains token.

Some people don’t know how to make money in this economy.

Hero.

[rolexpatek363]

Originally Posted by Incroyable12

Moda Group is already warning about previously trustworthy dealers who are deep in debt and unable to deliver.

IMHO, you'd need to be insane to even consider buying a high-end watch on Moda.

[EEpro]

Originally Posted by 7sins

Pretty wild the fraud on Moda these days...one of those special LE datejust subs

Wait that's not a thing !? Oh man.

[Coolcamden]

Originally Posted by rolexpatek363

IMHO, you'd need to be insane to even consider buying a high-end watch on Moda.

Why?

[Gebbeth]

Look, when I see my stock portfolio drop 20% this year alone and signs of a recession coming around the corner, sure....you will reassess that $50k watch purchase.

And I'm not even into crypto or high-risk growth stocks.

It put's things in perspective.

[thomaspp]

Yes they will - free money is over (for now). Can’t fathom who would consider buying anything above retail at the moment.


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[Daytona88]

A guy that I purchased a Twenty-4 from recently DM'd me asking if I would be interested in a 5711 Turquoise Tiffany for $4 million. I guess one sold for $6.5M so this may be a bargain for someone A LOT wealthier than me

[kanwind]

what's go up, must go down

[GB-man]

Im happy to report I’ve secured my monkey butt stains token but now I have to live in Puerto Rico to avoid paying taxes. It’s hard work out here for a pimp.

[gaeleus]

I am laughing all the way to the bank. Speculators will get a lesson about investing in watches !!!😂😂😂

[cascavel]

Originally Posted by gaeleus

I am laughing all the way to the bank. Speculators will get a lesson about investing in watches !!!😂😂😂

Watches ain't special, virtually every asset on Earth is dropping in value compared to the U.S. Dollar. If there's a lesson to be learned it's that, at times, being in cash is the only way to preserve wealth. This is one of those times.

[Yobrooks]

Originally Posted by cascavel

Watches ain't special, virtually every asset on Earth is dropping in value compared to the U.S. Dollar. If there's a lesson to be learned it's that, at times, being in cash is the only way to preserve wealth. This is one of those times.

Although, with inflation going through the roof even cash loses value. Highly sought after watches will hold value atleast compared to list price.

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[DonLee]

Originally Posted by cascavel

Watches ain't special, virtually every asset on Earth is dropping in value compared to the U.S. Dollar. If there's a lesson to be learned it's that, at times, being in cash is the only way to preserve wealth. This is one of those times.

Cash has emphatically been one of the worst long term investments. Compare that to property, gold, stocks, etc.

Holding onto cash for 100 years will make you lose 90+% of it.
meanwhile in the same amount of time, the dowjones has gained ~30-35x, gold has gone up 85x.

In the world of investments, you want to hold onto "investments" that are more likely to go up with time.

[cascavel]

Originally Posted by DonLee

Cash has emphatically been one of the worst long term investments. Compare that to property, gold, stocks, etc.

Holding onto cash for 100 years will make you lose 90+% of it.
meanwhile in the same amount of time, the dowjones has gained ~30-35x, gold has gone up 85x.

In the world of investments, you want to hold onto "investments" that are more likely to go up with time.

No argument there. My point was that it isn't just watches which are dropping in value vs. the $, everything, including other currencies, is. Yen at 136, Pound at 119, Euro at parity, gold back to $1750, Dow 30,000. Crowing about a drop in the value of watches in the secondary market only pays if one is in cash $U.S., otherwise you're losing on your stock investments, bond investments, currency investments, commodities investments etc, and haven't really gained anything.
When the 5711/1a drops 30% from its high and you liquidate enough of your stock portfolio to buy one you're not going to come out ahead if you're portfolio is down 30%, too.

[Calatrava r]

I see some of the Patek dress models softening in the secondary market. Some of the independents and Lange seem to remain stable. A lot of it has to do with the fact there are a lot of used Pateks available for sale used given an annual production of 50K watches. The independents and Lange produce far less pieces. The Patek steel stuff just got too crazy and is correcting in a very healthy way for the brand.