Do Luxury Watches Appreciate In Value?

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.8 • 2.1K Ratings

🗓️ 7 November 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

My friend and business partner Amr explains strict do's and don'ts in the luxury watch community...

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Do you have a luxury watch? Would you flip it or let it appreciate in value?

Watches, luxury watches, luxury watches, men’s luxury watches, women’s luxury watches, watch flipping, Rolex, Rolex watches, Rolex president watch, watch market, how to flip watches

Transcript

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0:00.0	You actually were telling me a crazy story about a patek you just bought that's like,
0:04.1	got crazy equity. Yeah, so I put in an application for patek some, I'd say, now it's been
0:13.4	probably three to four years. As soon as it came out, you know, fell in love with the piece.
0:17.6	It's a perpetual calendar, which means that it never loses time, day, day, month, ever for eternity.
0:27.1	And that's crazy. This Rolex, I'm crazy. I feel really dumb now, but I, you know, I wore it
0:35.0	for the first time and then I didn't. And then I'm like, why did it stop? Does it need a new battery?
0:39.2	Or like, what's the, like, I was like, what is going on with it? I even told my assistant
0:43.3	gave, I go, hey, can you take back to Rolex and like, what's going on? So, yeah, it's not that it's
0:52.0	an automatic movement. What I actually meant is if you keep it wound, right? So if it always has
0:56.8	power and you keep it in like a, in a box that would wind it all the time, it will keep track of which
1:06.0	year you're in. So leap year, day, day, month. So February, usually we don't have the same
1:12.4	days in the year. Sometimes that it's a leap year, sometimes it's not and
1:16.6	right. End up having to readjust your watch, right? And that happens every so many years for it to
1:22.2	be particular. And this particular watch will never lose time. So if I keep it in its winding case
1:28.8	or if someone's always wearing it, it will consistently tell you which day, which month, which
1:35.4	what time it is and where the moon is in the sky forever. That's crazy. So to just be able to do that
1:43.2	mechanically, obviously your phone could tell you that, but we don't care about that. Yeah, we
1:47.2	do that, but to be able to do that mechanically is mind boggling. So that watch was offered to me
1:54.1	through the distributor directly and it was $130,000. This is a protect. Correct. It was a protect.
2:03.6	And you know, I believe that they go on the open market somewhere between 550 to 650.
2:10.3	And it's and I feel very fortunate to be able to be offered this particular piece. But at the same
2:20.8	time, it's it's very scary to kind of wear it. So I've only wore it once and it was around the house.
	...

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