Rolex and Recession: Now that Times Are Hard, Should You Invest in a Rolex?
Monday, 8. February 2010
A Reuters story that appeared late last year said that Singaporeans are now trading their Rolex watches, including the popular Datejust watches, and are now settling for less pricey brands. This is because recession has hit the Asian city-state quite badly and people are trying to cash in on the value of their Rolex watches.
People from all over the world are relying on their Rolex Oyster Perpetual and Datejust to save them. Jewelers are claiming that there is rise of people from around the world who are collecting new and pre-owned watches Rolex watches even with the unemployment rate at an all time high. Not only are people still collecting them but the prices of watches are going up. Collectors are starting to understand that gold and silver are worth more than paper.
If your fortunate enough to have money to invest, the Rolex Oyster Perpetual Datejust would be a great starting point. Gold is at an all time high and with cash4gold watches are coming a commodity. The Rolex has craftsmanship that cannot be duplicated and if you decide to sell your watch down the line, give it a good buff and you could make a good return.
This fact is a testament to both the engineering excellence and the marketing brilliance of Rolex. When it comes to making watches, Rolex sets the standards. The Oyster Perpetual Datejust, in particular, was the first wristwatch to feature a date display, as well as the first wristwatch ever given a chronometer rating by the Contrle Officiel Suisse des Chronomtres (COSC). A chronometer rating is a certification of accuracy for a timekeeping device.
As for the marketing aspect, no one can question Rolex for their expertise on that. The company may mass-produce an Oyster watch model, but they also release limited editions of the same model. As we all know, the rarer something is, the harder it is to get and the higher its value becomes. One of the Oyster Perpetual watches that are so hard to find these days are the famed Paul Newman Daytona watches. It is said that a Paul Newman Daytona watch now costs seven times its original retail price.
As a rule of thumb investors always say that in a time of crisis, like our depression, people should invest in tangible commodity rather then put the money in the bank. The FDIC backs up 250,000USD now but money is backed up in gold. So go straight to the source and invest in a good watch.
Not only does the Rolex Perpetual Datejust have 18k gold but it also is studded with diamonds. Another good investment. Gold and other precious medals are such a valuable resource that is depleting your watch will go up in value. The Rolex Oyster Perpetual Datejust is a tangible object that you can hold onto and will be making money on your wrist instead of falling victim to inflation.
Want to find out more about Rolex Watches, then visit Roman Streib”s site on how to choose the best rolex oyster perpetual datejust for your needs.