Insanity! Where does it stop?

[subdownunder]

Is anyone here old enough to recognise this time is a replay of the 1980's bubble and the 2007 bubble?
The 80's was stocks, the 2007 was housing and stocks.......now it is everything.

Remember the commentators saying it was not a bubble and prices will continue to rise indefinitely?

And anyone not drinking the cool aid was a doomsayer?

Well I do and I am terrified of what is going to happen when we hear the pop... and Rolex's will not be immune.

[teck21]

Originally Posted by subdownunder

Is anyone here old enough to recognise this time is a replay of the 1980's bubble and the 2007 bubble?
The 80's was stocks, the 2007 was housing and stocks.......now it is everything.

Remember the commentators saying it was not a bubble and prices will continue to rise indefinitely?

And anyone not drinking the cool aid was a doomsayer?

Well I do and I am terrified of what is going to happen when we hear the pop... and Rolex's will not be immune.

There is no genius in calling a bubble and eventually get it right.

Eventually.

However, the truth when it comes to calling financial bubbles is: being early is the same as being wrong.

Most doomsayers are wrong in this regard, and have been wrong since 2019 and look what that has cost them.


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[Mendota]

It's psychology. People will fight you tooth and nail, call you every name in the book, and convince themselves that they are right and everyone else is wrong all the way up. This time is different, this time is only XYZ, this time it can't happen for XYZ, it's never going to happen...

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[airchitect]

Originally Posted by Oldwoods

I picked up a new Daytona from my AD yesterday and my spend with them is nothing like the figures quoted. I have, however, nurtured a long standing relationship with them which, I believe, is very important.

But really…….why????? It’s a friggin watch. People on here speak like buying a watch is equivalent to completing a 5yr $150MM development project. No. This is a retail mass produced product. You should be able to just go buy the silly things!!

Rant over


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[Nairn1980]

Not this againnnnn

[rkny]

Rolex themselves are not completely without blame.

In 1968, a Submariner was $225 retail, or approx. $1700 in today’s dollar.

With the upgrades to construction and quality, I could understand if today’s Sub was $5K.

But it’s almost double that.

[bob sims]

Originally Posted by bob sims

People pay over a million dollars for a piece of cardboard 52 Mantle card that sold for half a penny I believe.
No second hand!

I have to correct myself. Earlier this year one of those half cent pieces of cardboard sold for over FIVE MILLION dollars! I wonder how many people told the seller to unload it over the years for 10 or 20 grand before the "bubble" burst!
https://www.sportscollectorsdaily.co...ard-ever-sold/

[gerry100]

When looking at Grey prices, remember it’s
Easy to bargain down from a published
price, nearly impossible to go up

Fishing going on, I recall a 16570 “parachrome”
Being pushed at a $2k premium

[MWW70s]

It's pure sanity to me if $13k is sanity to you.

[johntictoc]

Not true. It is still a tax violation.

Originally Posted by franktehtank

Notice how crypto is up again? Follow the money! People are willing to buy watches directly with crypto gains to avoid paying capital gains taxes. When you're up several multiples of your original investment, and stand to lose a large portion to the tax man, those prices don't seem so crazy.

I personally think a large portion of the Rolex hype/flippable brands market is driven by this type of tax evasion.

[GaoKS]

As others have mentioned, money is relative. A $500 steak dinner with the significant other for many of us on this forum would not be relevant to our finances but to some would be life altering. Some peoples $500 steak dinners are just 40k Daytonas.. or 400k cars.. or 4M boats.. etc.

[Danny83]

I actually think Tiffany OP 41 pricing is more absurd then the Daytonas lol.

[Mendota]

Originally Posted by johntictoc

Not true. It is still a tax violation.

Yeah, a lot of people don't know that your 1040 tax return now has a section for reporting all of your crypto transactions, including when you make any sales to purchase items from a retailer. Whichever platform you use is required to report your activity for the year, just like any brokerage account does, so the people who think they can just "not say anything" are in for a huge surprise.

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[Sandpit]

Originally Posted by rkny

Rolex themselves are not completely without blame.

In 1968, a Submariner was $225 retail, or approx. $1700 in today’s dollar.

With the upgrades to construction and quality, I could understand if today’s Sub was $5K.

But it’s almost double that.

Luxury goods price increases never have, and never will follow inflation.

I think 10% annual price increases are pretty common across most luxury goods (from my experience).

[johntictoc]

95% of this thread is drinking the kool-aid and I really hope you guys are ready

[johntictoc]

Mendota's chart says it all