Rolex and Recession: Now that Times Are Hard, Should You Invest in a Rolex?
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.
This only goes to show that in times of crisis, you can rely on your Rolex Oyster Perpetual to save you – that is, if you have one. Jewelers all over the world are reporting that the demand for both brand new and pre-owned Datejust and Oyster watches is still climbing despite the global recession. And instead of prices going down, as in the case of other luxury watches, they are even going up for the Rolex.
So if you have extra cash lying around that you intend to save for a rainy day, it may be a better idea to invest that money in a Rolex Oyster Perpetual Datejust instead of depositing it in the bank or putting it in the money market. Because the value of the Rolex watch continues to climb up, you may end up getting much more than you originally paid for if you decide to sell it later.
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.
Not only does Rolex make amazing watches, they are able to market them perfectly. There are several hundred Oyster Perpetual Datejust watches made every year but they also have very limited edition watches that come out throughout the year as well. The Paul Newman Daytona watches are a limited edition Rolex Oyster Perpetual. It was once sold for over eight times that original cost of the watch.
And then, there is this rule of thumb in investing that money experts always give as an advice: In times of crisis, invest in a tangible commodity rather than put your money in the bank. Even banks are subject to market forces and can close their doors on you when you least expect it. When they do, you can say goodbye to your hard-earned savings.
In addition to the brand value and reputation that the Rolex Oyster Perpetual Datejust watches have, it should be noted that some models come in 18K gold and studded with diamonds. Gold and diamonds may fluctuate slightly in price but the value is always there. It is always better to invest in something that you can see and hold in your own hands, according to financial experts, and the Rolex Oyster Perpetual Datejust is one such object you can hold on to, no matter how bad things can get.
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