Actually, everything in life is just an illusion, including a Rolex's worth. Lee Kuan Yew understood this, that's why all his life he only wore simple watches like Casio, etc - the kind of watches that most world leaders won't be caught dead wearing, even at home.
Paying in excess of $18,000 for a Rolex sports series watch, is really, for want of a better term, nothing more than a superficial exercise to feed one's own ego. This is also true of the whole accompanying culture of 'value appreciation', 'limited stock', 'rare edition', etc. All of this is really just a man-made illusion. Nothing more.
Sadly, this is one of the single biggest weaknesses of Man, but that is life, unfortunately...
It is interesting to note that while LKY did not subscribe to any particular religion in his life, he totally grasped and understood this philosophy very well, in fact, more so than most people(especially the rich).
All luxury brands and their perceived high prestige and value, are really nothing more than an illusion. Understand this very important philosophy in life, and you will live a more enlightened life, filled with less frustration, less self-doubt, more self-confidence, higher self-esteem, and more peace.
Lucky is the man who is able to find and marry a woman who also understands this philosophy.
firstly, if u dunno anything about rolex beyond a luxury brand then ok, rolex is an illusion of richness..
I agree with u to a certain extend, its pointless for a sport series rolex to have bling or diamonds but that is not wat rolex is all about
maybe not many know, rolex literally is been there done that, they supplied panerai with cases, been to mariana trench, climbed everest, worn on presidents' wrists. their movements are made to last. the brand speak for itself. rolex is more in house made than most watch brands out there with exception for seiko. that in itself is alrdy worth the value.
most people might not know, rolex is still very assembled by hand, whereas the panerai most ppl wearing these days are just machined watches, u can argue about machine being accurate, but watch making still revolves around the craft of being hand made.
i just think that.. every time buy those watches like seiko and others got no resale value.. y not get a ex watch while i can then hor.. if money tight still can sell... not like seiko.. sell also no ppl wan...
if u want retain value, better buy off a person n authenticate at rolex service center for SGD 107. firstly, the moment u pay hour glass, it immediately drops about 1k or so. since u scared previous owner die, so dun buy off pawn shops, maybe a second hand dealer or in gray market in sg-roc.com forums.
although i would say, TS sounds like he is buying watches for resale value, or rather investing in watches, then i'd say, better not do that, ur money is better of investing in index funds u will always have money easier and more to squeeze out compared to selling watches. somemore if u want to sell, u never will truly own the watch and u have to take care of it, no fun in that.
more often than not, we think we are investing, but we are not!!! I'm going to drop some wisdom for you all to ponder, its basic maths and you cannot siam this thing no matter wat, so pay attention and think hard.
any pros can build on it if u want.
those who invest in a rolex means they want to make money, meaning $1 also cannot lose (this doesn't apply to ppl who wants to own rolex because u like it and also doesnt apply to special limited editions or proper vintages like mil-subs or paul newman daytonas)
u buy a rolex now at $8,000. to make back that same value of money, when you sell in 10 years time, u have to sell at a minimum of $11,500 just on inflation alone. that is not inclusive of the servicing costs which can run from $500 and up (crystal replacement is about $200 i think?). Even more if u damage a watch in 10 years which is a very easy thing to do. so every 5 years service once, plus $100-200 to replace any extraordinary stuff, u actually need to sell at $13k and up. since u are investing, u will polish your rolex (real collectors do not polish their watches, polished rolex is practically worthless to collectors, i'm not kidding, u can look it up) which is a few $100s every 3-4 years.
do u think your ceramic bezel submariner in 10 years time can sell for $10k? you also have to consider that every other rolex sub c also going to sell their pieces because they think they are investing in it n their mindset is buy $8k, sell at $9k is earn.
If you have $8k, n dun really appreciate the looks and heritage of a rolex, better take it to buy STI ETF from posb, simple and easy.