Reply With QuoteInteresting times.
The used car market seems way above a year or so ago.
Rather than suffer a collapse in sales due to Covid the opposite is true - it's been boom time for watch sales and even WoS are embarrassed enough to repay the furlough monies that they received:
https://www.cityam.com/watches-of-sw...%20%C2%A345.6m.
Interesting to see how the second-hand market has also faired and as for those hoping for a Rolex "bubble burst".....
Interesting times.
The used car market seems way above a year or so ago.
All the bounce back loans and extra disposable income being put to very sensible use.Originally Posted by Rich
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We bought a used car privately almost two years ago and somehow it's currently worth a smidgen more than what we paid for it. No chance our car hasn't depreciated in this time, prices have gone up.
My mate in London is making a killing by brokering deals for all sorts of high end exotica from Range Rover SVRs to Lambos. They can't sell them quick enough.
I'm not surprised about the surge in luxury watch sales. The threat of Covid made me 'loosen up' somewhat and my 2 watch collection grew to 5 during lockdown. That said, I've just set up a significant mortgage overpayment schedule so that I can clear my mortgage in 2 years. There will be no new watches in that period (he says with the best intentions)...
Last edited by beechcustom; 17th December 2020 at 15:49. Reason: can = can't
Its definitely been busier for us. And I can see why.
Personally I havent ventured out far during the lockdown. 2 holidays have been cancelled, ive worked all the way through, no dinners out, no huge commutes as have been working from home throughout.
Bought 5 watches this year. Not heavy bits (mainly metal g shocks) but a combined total of over a grand that otherwise would've been swallowed in diesel and restaurants.
I can see people who earn well and buy watches sinking their unspent into more of them, which seems to reflect what ive noticed in the trade.
This 'bull' market is a derivative of several factors but I suggest the main one is:
35% of USD in current circulation was printed in the last year. The Fed has gone nuclear.
We are undergoing rampant money printing on an obscene scale from all major Central Banks (Fed, BoE, ECB, BoJ...)
That extra tsunami of money supply will wash through all markets, and can be already seen in those markets that can't be printed. (US) Equities, Gold, Crypto, and yes watches. I see all 4 of those markets ending significantly higher in 2021.
The doom merchants perhaps rightly tend to focus on those having a bad time, but as highlighted a lot of people are in secure jobs, have had very little time off work this year and very little to spend their money on.
I usually keep an eye on a few watch dealers sites and the speed with which some of the stock is moving has certainly picked up, with some popular watches shown as reserved almost the minute that they are listed.
Bubble, what bubble. If you want bubbles support West Ham
This is great news for WOS, especially when in the summer so many people were doubting the strength of their balance sheet.
Agree with that.
Not far off the truth from ALOT stories i’ve heard :/All the bounce back loans and extra disposable income being put to very sensible use.
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Most hilarious i’ve heard was, an aquaintance of a co-worker of my OH, who’s early 30s already massively in debt treated himself to a nice M4 over lockdown courtesy of said loans.
#YOLO
Tbf i’ve saved alot not communting or buying coffees/lunch since the start of March.
In some ways I’m not surprised as with little else to do in a lockdown, you can end up thinking in great detail about what you’d like to buy, or if you have the means, buying it. At this point I have a very clear idea what watches, motorcycle and car upgrades I’d like, and have pretty much designed a spectacular second home. It’s a displaced yearning for normal life and progress I think. Perhaps I should turn my mind to how to pay for it all though...
I wonder if will follow that when this is all over people will become disinterested in material possessions and spend their money on going places and doing things instead?
They will just use the money they make year to show of material possessions in exotic locations.
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