re: Whose got a Rolex?

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Now that everyone has seen incredible gains in the value of their Rolex(s), any changes in your thoughts on this, Obtuse?

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I was dead wrong about what the pandemic would do to the price of watches in terms of any significant short-term drop. Instead of sitting at home worried and not buying people went on a buying spree and coupled with the low supply the market for all the "it" watches just ballooned.

Rolex makes nearly a million watches a year with the cheapest (men's) watches right at $6k and the supply is sold long before it is produced. I have given up on trying to understand it. If you had told me a decade ago that basically the entire Rolex catalog would be unobtanium and they had not reduced production significantly I would have said you were crazy. I still think the gray market inventory is a big part of the problem but until they get burned they are going to keep hoarding.