Finanical Crisis? Buy Rolex!

[116520]

Many of us also know that we are in "recession" now... many bro and sis want to know where they should invest their money during this period.... some say stocks, some say gold.... I say ROLEX!!!!

Don't believe me?

check this out:

http://www.news.com.au/business/stor...rom=public_rss

[Darkangel]

Gold dropping since yesterday

hahaha...from $800++ to $780 currently....

rolex better

[116520]

In case of broken links, I copied and paste the article from www.news.com.au here:

BUSINESS NEWS <<<don't play play

Rolex sales soar as Icelanders turn to safe havens October 17, 2008 07:37am

AS Icelanders suddenly find themselves in the eye of the global financial storm many are seeking stability and solace in luxury goods like Rolex watches, which unlike their plunging currency are unlikely to devalue.

As Iceland in recent weeks has teetered on the brink of bankruptcy, Frank Michelsen, the Nordic country's only Rolex vendor, says he has seen a "significant increase" in sales.

He refuses however to reveal his figures for fear of being accused of taking advantage of the crisis.

"Customers want something they can hold in their hands," Mr Michelsen told AFP.

"They don't trust figures on computers because they've already seen these figures vanish just like smoke," he said.

In the past year, the Icelandic krona has lost more than 40 per cent of its value compared to the euro and the dollar, paving the way for the dire lack of liquidity that in recent weeks has caused the island's entire financial sector to collapse.

Most of Mr Michelsen's customers are Icelanders who snap up a number of the luxury watches, which cost several thousand euros a piece.

Since the devaluation of the krona has yet to be fully reflected in shop prices, Icelanders who do not decide to hold onto their luxury purchases for future generations stand to make a pretty penny by re-selling the watches abroad.

[pet]

hahaha... hmmm... but i think i wont buy watch for now, see got opp... prop/ shares better..maybe can make $$ in the future to get more rolex...

[wind128]

Thanks for the article.

I am a believer in diversification of risk, so looking at Rolex as an alternative form of "investment" seemed fine for me.

Cheers

[melfiz]

from this period of recession...it seems that the market out there is quiet,business is poor...now most people have second thoughts of spending..not even mention to buy luxury goods..best wise keep cash for time being...as my friends say cash is king now..

[ejaan]

In the past year, the Icelandic krona has lost more than 40 per cent of its value

If the currency devalues at this rate, then cash is no more king. I too would go for something stable in terms of value.

[panerai7776]

Many of us also know that we are in "recession" now... many bro and sis want to know where they should invest their money during this period.... some say stocks, some say gold.... I say ROLEX!!!!

Don't believe me?

check this out:

http://www.news.com.au/business/stor...rom=public_rss

Hi bro, very interesting article. But I think that the article is very misleading. IMHO, not all Rolex watches are investment grade. Some are worth not even half of what they paid for 10 years ago. Factor in servicing and polishing costs, worse.

Just my 2cts.

[seiko.citizen]

very true. that website i read, but please take the information with a pinch of salt.

[pet]

sekali euros/ Sfr drop 30% ... thn can get cheaper rolex leow

[116520]

Chinese Yuan has appreciated more than 10% in 2 months... so you stopped looking for chinese mei mei?

sekali euros/ Sfr drop 30% ... thn can get cheaper rolex leow

[pet]

Chinese Yuan has appreciated more than 10% in 2 months... so you stopped looking for chinese mei mei?

wow, time to collect CMM ... hahahahhaa

[Vedder007]

Actually, I kinda subscribe to the 'invest in Rolex' mindset especially in current economic climate. Best is no need to sell, then give to my boy/girl in future. but if need to put milk powder on table, can sell.

But i also don't put all eggs in one basket, i try to buy some blue chip stocks to earn some dividends...

[Rottweiler]

Actually, I kinda subscribe to the 'invest in Rolex' mindset especially in current economic climate. Best is no need to sell, then give to my boy/girl in future. but if need to put milk powder on table, can sell.

But i also don't put all eggs in one basket, i try to buy some blue chip stocks to earn some dividends...

Fellows,

Wondering do watches really appreciate in value over years? Take Rolex for example:-

Brand New Rolex in 2009 = SG$10k

Down the road, if I need cash, I sell it off at year 2010. Would I get SG$10k more or less?

I know its still a value for my Rolex, question is how much would I get in return?

[Darkangel]

Fellows,

Wondering do watches really appreciate in value over years? Take Rolex for example:-

Brand New Rolex in 2009 = SG$10k

Down the road, if I need cash, I sell it off at year 2010. Would I get SG$10k more or less?

I know its still a value for my Rolex, question is how much would I get in return?

It will depreciate in the initial years then take awhile to recover