I Spent $5,300... Is A Rolex A Bad Investment?

TL;DR

Buying a Rolex watch can be a good investment if purchased at or near market value, as Rolex watches tend to appreciate in value over time.

Transcript

• So one thing you guys may or may not know about me is I actually live near the Saratoga Race Track, and I can remember when I was a kid going there to the races at one point in time and standing up against the rail at the race track. And I can remember looking to my right and seeing somebody sitting there with their wrist on the rail, and I looke... Read More

Key Insights

• 👀 The speaker's childhood memory of seeing someone with a Rolex watch sparked their desire to own one.
• 👀 Purchasing a Rolex watch at or near market value can result in little to no cost of ownership.
• ⌚ Rolex watches have a tendency to appreciate in value over time, making them potentially profitable investments.
• 🙃 Additional costs of owning a Rolex include insurance, appraisal, and servicing every seven to ten years.
• 👀 The decision to buy a Rolex watch ultimately depends on personal goals, preferences, and financial priorities.
• ✋ Investing in the stock market or real estate can yield higher returns compared to a Rolex.
• 🙃 Owning a Rolex watch can provide a sense of satisfaction and serve as a status symbol.

Questions & Answers

Q: Can owning a Rolex watch be considered a good investment?

Owning a Rolex watch can be a good investment if bought at or near market value, as they tend to appreciate in value over time.

Q: What are the costs associated with owning a Rolex watch?

Apart from the initial purchase price, there are additional costs for insurance, appraisal, and servicing. Servicing is recommended every seven to ten years and can cost around $800.

Q: Can a Rolex watch be a profitable investment?

If bought at market value and sold at or near market value in the future, a Rolex watch can potentially make a profit due to its tendency to appreciate in value.

Q: Is it worth buying a Rolex watch for the status symbol alone?

It ultimately depends on personal preferences and whether the symbol holds meaning for the individual. Investing in oneself or other financial assets may yield higher returns, but owning a Rolex can provide personal satisfaction.

Summary & Key Takeaways

• The speaker shares their childhood memory of seeing a person wearing a Rolex watch, which influenced their desire to own one someday.

• The speaker recently purchased a 1985 Rolex Datejust and received inquiries about whether it was a good investment.

• The speaker explains the costs associated with owning a Rolex, including the initial purchase, insurance, appraisal, and servicing.