During good times, when rolex and panerai prices are shooting up every week, some dealers tell their customer to quickly buy cos prices will keep going up. Some also said 'Don't scared', if you don't want it within a year, I will take it back at 90% of the sale price, blah blah. I even know of a shop that had this return policy written on the reciept.
Then came 2008. When many people started bringing in the watches for 90% return cash, some shops closed or owners cannot be found. Some shops that did not close, the owners had to bargain cos as price drop all over, they cant fulfil their 'promise' of taking back at 90% of sale price.
So watch buying can never be an investment, though price are like shares....what goes up must come down, what goes down will come up.
So in Pa****** case, he shoots too fast and when proven wrong, act tough and play taichi.
Then came 2008. When many people started bringing in the watches for 90% return cash, some shops closed or owners cannot be found. Some shops that did not close, the owners had to bargain cos as price drop all over, they cant fulfil their 'promise' of taking back at 90% of sale price.
So watch buying can never be an investment, though price are like shares....what goes up must come down, what goes down will come up.
So in Pa****** case, he shoots too fast and when proven wrong, act tough and play taichi.
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