Baron - Mr Red
14613
using it to avoid capital controls...that is what amused me [nt]
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Rolex...a new type of money
A friend of mine is involved in trading the bonds of various emerging economies. He told me a funny story about Rolex. In Iceland, following their bank bust, the government imposed capital controls meaning that Icelandic nationals cannot transfer more tha...
It has always been traded as it is more liquid than the rest..
..If you happen to go to Macau, do check out the used watch shops there, you can find many many Rolex watches there. Not sure how they came about, but my guess is that the throngs of gamblers who traded their watches for money to be used in casinos. Even ...
I guess i was being naive...
You are right...it has always been a form of money. But to me, just funny to see it being used as a way of avoiding capital controls! I guess it is the first time I have seen it used like that.
same here in singapore
walk around anywhere and theres dozens of shops everywhere selling lots and lots of rolexes of all kinds. i think because we're seeing a bigger supply and demand of rolexes we tend to think they are liquid/retain value higher than any watch when in fact, ...
This sort of reminds me...
..of some folks who buy 'grey', wear the watch for awhile, then sell it online for a small profit when they need the cash. Of course, this can be done with any watch. =:^{D>
Rolex is timeless
Yes there are many thing you can buy and resell. But Rolex is one of the few items that will hold their value for a very long period of time in any part of the world. After all Rolex is #1 world recognizable luxury brand.
A Rolex does not age
Most of the more desirable Rolex watches do not grow old or age but after some while, they become vintage and generally, their value keeps on appreciating.
