A positive side of the credit crunch?

[Polynomial]

After all the bad news, something bit more positive -- the FT published this today in an article on luxury goods market:

"Deflation was notable in some of the index

Edited July 20, 2008 by Polynomial

[Watchmeister]

That is the only positive side to the Credit Crunch. I can't read the whole article but even the article is artificially optimistic. Who pays 4,500 (pounds?) for a submersible? Don't bother with new items. You can readily buy a 1000m 87 for $5,000 these days. Another forum member put out a WTB for one and got 26 responses from the various risti forums. So I subscribe to the theory that we will see the real savings is in the secondary market. I am definitely seeing prices going down for all but a few items on TZ and Watchnet. I suspect the next 18 months will be a good time to pick up that gen you have always lusted after. In the case of Panerai the secondary market has always been much stronger than many other brands. But I see prices in the secondary market falling as well.

[client9]

The positive side of the credit crunch for me here in CA is the price of homes coming down. Just a few years ago, houses the size of a tuna can were going for one million dollars. They have already dropped to about $800,000. In two more years I can see them going for $500,000 -- a 50% discount!

[fotoman]

The positive side of the credit crunch for me here in CA is the price of homes coming down. Just a few years ago, houses the size of a tuna can were going for one million dollars. They have already dropped to about $800,000. In two more years I can see them going for $500,000 -- a 50% discount!

its called a correction, unfortunately for those that are over leveraged and stuck - we have to keep our fingers crossed that things will find a way of working out.

everytime i loook at my collection, i think of the bills i could pay if i just sold them all -

[cdzsmith]

The positive side of the credit crunch for me here in CA is the price of homes coming down. Just a few years ago, houses the size of a tuna can were going for one million dollars. They have already dropped to about $800,000. In two more years I can see them going for $500,000 -- a 50% discount!

If this thing goes on for another 2 years... it'll be about 18 months too long...

[fakemaster]

There's a credit crunch?

[flex]

i, too, am in the market for a gen watch.....something that holds value, and something that can be used as a work horse.

[Febus]

According to some AD's I've been talking to the market in watches that don't depreciate much ie Rolex is stronger than ever as people use them as a hedge against possible inflation denuding the value of their capital.

There's a strong argument that the right steel sports Rolex is going to hold it's value better than US$ in the bank, particularly as that currency seems to be heading out of the toilet and down the drain faster than you can say 'national debt'.

[wj94]

According to some AD's I've been talking to the market in watches that don't depreciate much ie Rolex is stronger than ever as people use them as a hedge against possible inflation denuding the value of their capital.

There's a strong argument that the right steel sports Rolex is going to hold it's value better than US$ in the bank, particularly as that currency seems to be heading out of the toilet and down the drain faster than you can say 'national debt'.

That may be the biggest crock of s-hit I've ever heard

[Febus]

That may be the biggest crock of s-hit I've ever heard

Which part is a crock of 's-hit'?

The fact the US$ is on it's way to being a junk currency compared to the euro or even sick old sterling?

Or the fact that a green glass milgauss is selling at twice its list price?

Do enlighten me.

[P4GTR]

Rolex, Breitling and TAG just increased their retail prices what- a month or two ago? Probably all the other big names as well, yes?

[promotersf]

Luxury items actually do BETTER at at time like this unfortunately...and the brand new retail pricing will continue to go up and up...

BUT, Kruzer hit it right on the head, if you're alert, you can find good deals in the coming year from people who will be unloading their personal luxury items as their financial situation suffers...so if you don't mind picking up that great preowned gen, opportunities will arise. There are a couple grail pieces that if they arise at the right price, I will be jumping on them. The nice thing about picking up a preowned gen is that at the right price, you can't lose, because you can almost always sell it again on TZ or the secondary market for the same price if not more while having enjoyed it.