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When I look at what I own and the value change YTD, Rolex and Lange timepieces are my best stores of value…. They don’t require property taxes like my real estate, and they haven’t dropped in the ways my investment accounts have. They’ve really held in there. My company shares are down 40% from their 52 week high. My ceramic Daytona is down 20% from their crazy highs and I got it at retail. We always wondered if people really were paying $50k for steel Daytonas when the prices were there. I think there’s a lot of envy reflected in those who post forecasting some sort of crash. They are most likely would-be flippers who never got the call so they hope the game ends since they never could play. If luxury goods drop in value because of war in Europe, lockdown in China and stagflation in the US I don’t think that’s some sort of indictment of those who enjoy and store some value in timepieces. In the current situation there is no where to hide when it comes to protecting wealth.
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