Rolex as currency

[Rolex50]

Read an interesting article on how the value of a Rolex, particularly a Sub, is the only watch so universally well known that it is effectively currency.
The example was that you can buy your way out of a jungle in a foreign land with it, ha. Also, that it is about the only thing you can buy new, the fair market value of which then actually goes up when you walk out of the store, rather than immediately depreciating by 20 or 30 percent or more.

[Setarip]

Yes, this is likely true. Have never had to put it to the test, though I’ve traveled all over the world and in some less than secure places.

Article here from 2017 with Phillipe Cousteau (Jacque’s grandson) on the topic:

https://www.businessinsider.com/role...expert-2017-11

[Yess]

Obviously, it's not just the sub either!
I think Rolex's resale, for people who are collectors/watch enthusiasts, is great. I don't mind losing a little bit of money when I want to swap out a watch - but the fact that I can often get all my money back, or even make money with Rolex, means I can buy on the off chance I like a reference.

I really want to try an Omega Seamaster 300 - but I am not sure I could live with it long-term and I'm not keen to take a 20-30% hit on the RRP given how undecided I am (not interested in purchasing second hand watches in the slightest). If Omega had Rolex resale - or at least less of a hit at resale - I would have one on my wrist now.

For those who never sell watches - this is all academic.

[AbsolutelyROLEX!]

Man you guys are young
Was never the case before, just in the last 3 years that they dont depreciate

[wilbur]

Originally Posted by Yess

Obviously, it's not just the sub either!
I think Rolex's resale, for people who are collectors/watch enthusiasts, is great. I don't mind losing a little bit of money when I want to swap out a watch - but the fact that I can often get all my money back, or even make money with Rolex, means I can buy on the off chance I like a reference.

I really want to try an Omega Seamaster 300 - but I am not sure I could live with it long-term and I'm not keen to take a 20-30% hit on the RRP given how undecided I am (not interested in purchasing second hand watches in the slightest). If Omega had Rolex resale - or at least less of a hit at resale - I would have one on my wrist now.

For those who never sell watches - this is all academic.

It's pretty easy to get a discount. I purchased a seamaster 300 ceramic on bracelet for 3700 euro new last year. Rrp was 4900

[seabreeze60]

Good point. I’ve been checking the price of my 14060M on online sales. Very stable. All my other assets are changing rapidly.

[Rexplorer214270]

Originally Posted by seabreeze60

Good point. I’ve been checking the price of my 14060M on online sales. Very stable. All my other assets are changing rapidly.

Is that on Chrono24?

[seabreeze60]

Originally Posted by Rexplorer214270

Is that on Chrono24?

Yes and on eBay sold/completed for my model.

[Bronte]

This is a bit of an urban legend that’s not to be taken too seriously. Most people, while they know Rolex, are in no position to verify the authenticity of, or appraise the value of, a Rolex watch. Additionally, most Rolex owners are more likely to fantasize about these Indiana Jones adventure scenarios where a Rolex would be used as currency than they are to actually experience something of the sort.

To test the hypothesis that a Submariner is “effectively currency,” try walking into a car dealership anywhere in the world and buying a car with a handful of Submariners. Good luck with that.

[Likestheshiny]

I really want to try an Omega Seamaster 300 - but I am not sure I could live with it long-term and I'm not keen to take a 20-30% hit on the RRP given how undecided I am

Market value of a used watch is going to be based on the street price of the watch, not the RRP. As wilbur noted, discounts on new Omegas aren't hard to find, and unworn Seamasters are all over the usual third-party watch sites. A Seamaster will still depreciate, of course, but you should be basing that on how much less it's worth than people are actually paying for a new one.

[Psmith]

This story has been around for ever and is a romanticized reference to brand recognition. Part of the canon of myths, along with 'it takes a year to make a Rolex', etc.
As for depreciation, the bubble of the last few years was just that. Buy a new Sub today and then see what you can get for it...

This bit of the above article made sense...
"If you were to find yourself in a serious emergency, it’s not hard to imagine a scenario where a fancy watch would just make you a bigger target. A kidnapper wouldn’t free you just because you have something valuable — they’d likely just take that from you, too."

[EEpro]

Originally Posted by Psmith

This story has been around for ever and is a romanticized reference to brand recognition. Part of the canon of myths, along with 'it takes a year to make a Rolex', etc.
As for depreciation, the bubble of the last few years was just that. Buy a new Sub today and then see what you can get for it...

To be fair though you're losing less dollars and far less percentage than buying msrp omega, jlc, etc and trading that in.

[Psmith]

Originally Posted by EEpro

To be fair though you're losing less dollars and far less percentage than buying msrp omega, jlc, etc and trading that in.

Sure, but the OP was saying that a Sub will appreciate straight out the door, which is no longer the case. And as some of the above posters have already said, paying the 'street' price with discount ameliorates things with other brands. Imho the best proof against depreciation is to buy the watch you actually want to keep, but we all know how that can go...

[Onikage]

Is it safe to buy your way out of a jungle with your Rolex?

[dmash]

Originally Posted by AbsolutelyROLEX!

Man you guys are young
Was never the case before, just in the last 3 years that they dont depreciate

Lol yes. You can tell the age of some people quite easily by this mindset of how it ‘is’. A Sub was 15% off when you walked out the door as recent as 3-4 years ago

[csaltphoto]

I'm not sure I'd be wearing a Rolex in any place where I might need it buy my way out.

[cj3209]

Originally Posted by Yess

...I really want to try an Omega Seamaster 300 - but I am not sure I could live with it long-term and I'm not keen to take a 20-30% hit on the RRP given how undecided I am (not interested in purchasing second hand watches in the slightest). If Omega had Rolex resale - or at least less of a hit at resale - I would have one on my wrist now.

-- Deleted --

That's part of the reason I sold/traded all my Omegas. I had that Seamaster 300 Titanium and it was sweet. What was not sweet was the hit I took when I traded it in for an X2 (16570) Polar (I adore this watch).

Cheers.

[cdmorenot]

Originally Posted by Onikage

Is it safe to buy your way out of a jungle with your Rolex?

I live in Colombia. A Rolex will never buy your way out of a jungle.

Kidnappings are not random. If someone wants to take you, they’re going to and they’ve already done their homework.

Not even a rainbow Daytona will buy your way out...


Sent from my iPhone using Tapatalk

[faimag]

Just don’t try to pay for groceries with your Rolex. You are going to get a lot of Omega and TAG for change!

[mackychase]

In my part of the world, Rolexes (way ahead of other brands) have been used to pay off certain debts. So I guess that qualifies...?