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Investing In Rolex Watches

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    #16


    Pawnbroker: Burnt my fingers, man.

    Louis: I beg your pardon?

    Pawnbroker: Man, that watch is so hot, it's smokin'.

    Louis: Hot? Do you mean to imply stolen?

    Pawnbroker: I'll give you 50 bucks for it.

    Louis: Fifty bucks? No, no, no. This is a Rouchefoucauld. The thinnest water-resistant watch in the world. Singularly unique, sculptured in design, hand-crafted in Switzerland, and water resistant to three atmospheres. This is the sports watch of the '80s. Six thousand, nine hundred and fifty five dollars retail!

    Pawnbroker: You got a receipt?

    Louis: Look, it tells time simultaneously in Monte Carlo, Beverly Hills, London, Paris, Rome, and Gstaad.

    Pawnbroker: In Philadelphia, it's worth 50 bucks.

    Louis Winthorpe III: Just give me the money.

    Pawnbroker takes watch and gives Winthorpe a $50 bill

    Pawnbroker: A pleasure doing business with you.

    Winthorpe takes money, then looks at display case for another potential business transaction

    Louis Winthorpe III: How much for the gun?

    Gunga galunga...gunga -- gunga galunga.

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      #17
      Originally posted by disneysteve View Post
      Do you know anything about these watches? Do you have experience reselling items like this? I'd do some searching online and see what similiar items are selling for. Just because a pawn shop thinks it can make a profit on them doesn't mean you can, or at least not so easily. The pawn shop probably has a list of customers to call when these items come in. Those same customers may not deal with a stranger on the internet so easily, especially if that is not your typical business.

      After doing the research, perhaps buy one watch and see if you are able to sell it well. If so, then consider getting the others.
      This is a well given advice! Anyone shouldn't jump into something just because others said they'll profit on it. It would be best to have a 'experiment' on what you are trying to do. And if you can seriously see a profitable business in this particular item then go for it!

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        #18
        one thing i do know about rolex and all the high end watches is they hold their value very well, just make sure its not counterfeit. do your research and if you can buy it cheap its a no brainer.
        retired in 2009 at the age of 39 with less than 300K total net worth

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          #19
          My main concern would be, how much money are we talking, and what percentage of your EF is it?

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            #20
            Just because your buddy thinks they are real, does not mean they are. There are good fakes of nearly every rolex model, including the packaging. Unless he has receipts from an authorized seller, you can't be certain they are genuine.

            Are they serviced and in good running order? A service on a Rolex can run WELL above $500. Even getting one cleaned will set you back $200+.

            There are plenty of places to resell used Rolexs and other watches. But the money is made on the front end, when YOU buy them. You've got to know what you are buying, down to the exact model numbers and years, before you can get any sense of valve.

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              #21
              Investing in rolex watches

              The salesperson is just trying to get you to buy one. Don't expect the Rolex to appreciate in value.
              I would be wary about buying from an unauthorised dealer.If you have any problems with the watch you may have problems with service

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