Reply With QuoteVery interesting story......I believe it's been well documented since October 2016 though........
I can't recall how much it sold for??
Probably worth keeping that old invoice and booklet after all.....
https://www.google.co.uk/amp/www.dai...r-100-000.html
Very interesting story......I believe it's been well documented since October 2016 though........
I can't recall how much it sold for??
Wow superb article....I was not aware of this specific story but have heard of other similar stories from across the pond.
It just popped up on my Facebook feed today
Much better than savings accounts at the moment!
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Sold on Wednesday for £85000 plus buyers commission making it approx £108500. However seller has also to pay commission to auction house so will probably end up with around £72000. Nice earner for auction house
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Sentiment vs financial reward......
Sadly many people said watches would never be a good investment when I was thinking of buying a Sub LV for that purpose a few years back. You could buy one for below £3k at the time!
My profit would've been small change compared to this guys though but I wonder what LVs will be worth in 20-30 years time?!
The idea that any luxury goods will always rise in value is a delusion. Markets always go down as well as up. None of us has a clue what any watch will be worth in ten years.
Bought for 60-odd quid when season tickets were £8.50.
That was a lot of money then.
"Stopped wearing it when he realised its value..." always a shame to see that but I've recently done this with one of mine :-s
Also it is always conveniently omitted that for ONE glaring example there is the mass of 'average' luxury goods that depreciated a serious amount of cash more than a functionally comparable but modestly branded product costs to buy. The depreciation kings & queens are also the luxury branded products.Originally Posted by paskinner
And the last time sports Rolexes declined in value was.....?
Yes past performance is no guarantee of future return but when a long consistent pattern of growth is evident it provides some confidence of longer term growth.
If we're talking rare and desirable vintage watches they certainly aren't going to get any less rare and it's likely they'll only get more and more desirable. Even if the market crashes (and I don't think it will) there's still a good chance it would recover (like vintage cars have).
Last edited by watchcollector1; 24th February 2017 at 12:42.
Love these stories and press-hype as to how cheap the watch was etc. If truth be told, proportional to average house prices, the Submariner none-date is cheaper now (1/44th of price - £255k - rather than 1/36th then). All you have to do know is work out which model Rolex will only produce less than 200 of....and buy one!
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As I wrote; cherry picking.
Even Rolex is not up to Casio F91-W territory when you look at the whole range. I mean the Casio will have cost you 13 (incl. replacement battery) Euros if you throw it away after 14 years of accurate time keeping. And that is without any market risk. Or any other risk for that matter.
Completely off the point and irrelevant as usual. A 10 year old could work out that the majority of watches, cars, luxury brands, etc are not investments. You can't just buy something and expect it to be an investment because it is a "luxury item".
To find a good potential investment you need to have a strong knowledge of the market you are investing in. Only a tiny proportion of watches have good potential as investments but with knowledge it's pretty easy to build an inflation proof collection with possible opportunity for increases. Of course if your purley looking to make money there are better bets but a collection of watches is much more enjoyable than having money in shares, etc.
I always fancied one of these from my birth year, perhaps I may have to re-assess!
When I bought my first submariner, a w series 14060 I sold it just over a year later for £800 more than I paid. When I moved on my M series 16610 sub after under a year of ownership, I sold it for about £400 more than I paid. I appreciate I was lucky to buy for great prices so I made money, just bought another 14060 so the watch world got my £800 back lol.
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It's not delusional to think that a Rolex Sports models will increase in value over the next 10 years. We can look at historical data to give us a guide, an educated guess if you will. It's not a guarantee but nor is it delusional.
It's a great story and I'm sure the owner will get great pleasure from using the proceeds of the sale to good effect. However, there's got to be more than a touch of sadness about parting with the watch. It's a quandry, selling is probably the most sensible decision but at the end of the day he's letting go of a watch that must hold huge sentimental value. It's a dilemma most of us don't have to worry about!
Much as I decry the madness that's affected Rolex prices in recent years I think the financial argument for buying and keeping Rolexes does make sense. I've owned a couple of Subs (now gone), 3 Datejusts, an Air King and an Explorer 1. In hindsight I should've kept them all; I still own 2 Datejusts and the Explorer. Ironically I sold the last Datejust and the Sub because I couldn't justify the cash tied up in them........if I'd viewed them as investments I would've kept them. Hell, not only did I lose money on the 116200 Datejust it's one of the few watches I regret selling! I don't miss the Subs or the Air King as watches but I do miss the Datejust.
A crystal would come in useful sometimes!
Paul
Yeah I agree. financially makes sense to sell but it was a gift from his wife on his 1st born and he wore it for so many years. I would have a very hard time to let it go, but i guess it is the rational thing to do.
To be fair Paul, if it were crystals, alot of things have also appreciated, if you had used the money to buy Apple shares instead of Subs etcetc. We must look forward!
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