I welcome anybody to participate in this discussion who has knowledge about watches. I’ve always considered a nice watch along with attractive cufflinks to be the essentials of male jewelry. I’ve got a gold bracelet as well but the truth is that I don’t care much for it. I wore a “Rado Jubilee” throughout college. The watch was high-tech ceramics, elegant in form, and worn well with a suit or more casual outfit. When my mother collabarated with me on an upgrade to a Rolex last year, it left me wondering about how well watches retain their value. Was this a good investment? Or should I have opened that additional IRA instead and even snagged a tax benefit.
My first thought was to research Rolex by visiting their homepage, googling it for owner opinions, looking at the prices of pre-owned watches, and speaking with enthusiasts about their own experiences. I’ve quickly learned that guys who wear pricey watches do indeed chat with each other and understand the cultures behind their watches. I’ve also learned some interesting facts about why Rolex watches have such a good reputation: they were awarded the world’s first wrist watch chronometer rating, and went on to set standards of excellence by creating a crystal crown which is both incredibly resistant to dust and pressure proof. Rolex also maintains a reputation for sponsoring major sporting events.
The watch I wear is from the “Oyster Datejust” collection. The band is stainless steel, the face is black and the curiously popular bubble which can easily identify a Rolex magnifies the date. So, overall, how do we feel about the merit of this purchase?
Through speaking with a few watch enthusiasts, it’s clear that most people don’t buy a watch like this strictly in terms of its investment merit. The question of whether it’s a good or bad purchase for appreciation potential is a backburner issue for most people who can afford them. That being said, a surprisingly large number of people were quick to point out the fact that Rolex watches maintain their purchase prices better than most other watches. In fact, some editions, such as the Daytona, which were produced in limited quantity, continue to appreciate at rates comparable with other good investments.
One person I spoke with had a particularly interesting take on his watch. “I bought it in 18k gold rather than sterling silver due to my conviction that gold is getting more expensive.” What an interesting idea, I thought, and with the amount of gold on his watch, I’m sure it gained nicely in value over the past few years.
So, what does the future hold for my watch? I will admit, it feels great sitting on my wrist and I sometimes feel like more of a gentleman when I wear it around. That being said, there are other days when I toss around the idea of selling it, or perhaps making an upgrade?
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