What it means to wear a Rolex in China

[Gobee]

Originally Posted by espngo

The total value of the pure 24kt. gold in a day date is 92.11 grams or $4951. You would sell your $40k rolex for $5k? Really?

You sell the steel for how much?
When their is no more value in a brand the only thing left is the material.
And yes in desperate time, gold and diamonds are your only the only way to get you out a trouble when cash has no more value or is seized by dysfunctional system...tell that to people who fled a country because of war.

[1665fan]

Originally Posted by Gobee

You sell the steel for how much?
When their is no more value in a brand the only thing left is the material.
And yes in desperate time, gold and diamonds are your only the only way to get you out a trouble when cash has no more value or is seized by dysfunctional system...tell that to people who fled a country because of war.

Spend 10k on SS and at one point it’s worthless…..or spend 45k for a gold watch that has 5k worth a gold……so lose 10k or lose 40k…….lol only an idiot wouldn’t see that

[Snaponmyrolex]

Originally Posted by Old Expat Beast

Face plays a large part, but you have to dig a little deeper for the larger picture.

Rolex watches have been sold in Hong Kong since before the Second World War, and there were ADs here in the mid 1930s (quite a bit earlier than in the USA). After the Communist Revolution in the late 1940s, millions of people came here, especially from Shanghai, to seek refuge (up to the 1980s and even a few in the early 1990s). The first wave of refugees were relatively wealthy but often had to leave much of their cash and belongings behind.

An easy way to show their (former) status was to display a gold or partly gold watch. Many of those first arrivals, just like Hong Kong’s locals, went for the Datejust, as it was relatively new and had a novel date function which was quite the thing back then. It’s still perhaps the most popular model today, judging from the number seen around town.

From the late 1950s, refugees were poorer, more desperate folk, fleeing the Great Leap Forward (1958-61) or the Cultural Revolution (1966 to 76 approx). Many were single men, and for them the first item on the shopping list was a transistor radio, but the grail was a Rolex watch, or at least a Tudor, a brand for which many settled (as in those days they looked exactly like Rolex, thereby giving some ‘face’ at least from a distance), and which is still very popular today.

This as I see it (and I am happy to be corrected by our Hong Kong Chinese members) is more or less how Rolex came to be an integral part of Hong Kong life. Go into the Rolex Service Centre any day of the week and you will see the place packed with people of all shapes, sizes, ages, and wealth brackets. Office girls, rich housewives, old men with their retirement Datejusts, young entrepreneurs with their vintage PN Daytonas and red subs, etc, etc.

This is how Hong Kong can sustain 60+ ADs.

Hans Wilsdorf’s death in 1960 was front-page news in the local papers here. I doubt that was the case in many other cities around the world.

(And yes, Hong Kong folk wouldn't be caught dead wearing a fake. Those are for tourists only).

Thank you for posting this most insightful Adam.

Wishing you a very Merry Christmas from the UK

Sent from my SM-G965F using Tapatalk

[Gobee]

Originally Posted by 1665fan

Spend 10k on SS and at one point it’s worthless…..or spend 45k for a gold watch that has 5k worth a gold……so lose 10k or lose 40k…….lol only an idiot wouldn’t see that

As stated earlier a rolex is a waste a money. People spend 10k for something that can cost a 100$ buck and do the same job.
In desperate time you still have something tangible to sell even if it has lost a lot more of its value. When you by a PM loosing 40k should be not much

[Ssunnylee24]

Originally Posted by Gobee

Asians value gold. They don't care about the story behind a watch. If they are going to waste money on a watch They rather have it in gold because it's also safe value. If rolex marketing loses it's reputation you can still sell the gold.

you must be from 60s.

[nyc10ken]

Originally Posted by Gobee

As stated earlier a rolex is a waste a money. People spend 10k for something that can cost a 100$ buck and do the same job.

In desperate time you still have something tangible to sell even if it has lost a lot more of its value. When you by a PM loosing 40k should be not much

Plus in that desperate time scenario, gold may not be the price it is today. It's currently not a popular asset, once the shtf or for example Bitcoin gets hacked and folks need another safe haven from currencies, the melt value of gold rolex should be higher than 5k.

Not saying that's a primary reason for getting a gold rolex but the argument is there for that point.

[nosignalbmwdriver]

Grandson typing the reply for him as we speak

Originally Posted by Ssunnylee24

you must be from 60s.

[Gobee]

Originally Posted by nyc10ken

Plus in that desperate time scenario, gold may not be the price it is today. It's currently not a popular asset, once the shtf or for example Bitcoin gets hacked and folks need another safe haven from currencies, the melt value of gold rolex should be higher than 5k.

Not saying that's a primary reason for getting a gold rolex but the argument is there for that point.

You understand. I think they are some spoiled people that never experienced hyperinflation or desperate situation. Historically gold has been an edge to keep value. They might think that crypto is the new gold but only time will tell.

[Gobee]

Originally Posted by Ssunnylee24

you must be from 60s.

Please elaborate why? Is this good or bad?

[nyc10ken]

Originally Posted by Gobee

You understand. I think they are some spoiled people that never experienced hyperinflation or desperate situation. Historically gold has been an edge to keep value. They might think that crypto is the new gold but only time will tell.

Crypto shares some of the same hyperinflationary hedges as gold, but the risk are very different. Both have their obvious merits. I see Rolex as somewhere in between them.

[Old Expat Beast]

Originally Posted by macrowatch

Wow, what a sincerely amazing post.

Originally Posted by brandrea

Nice insight into a culture I admittedly am unfamiliar with

Originally Posted by ARoughDraft

Sincerely a great post. This is why I still lurk the forums

Originally Posted by Snaponmyrolex

Thank you for posting this most insightful Adam.

Wishing you a very Merry Christmas from the UK

Sent from my SM-G965F using Tapatalk

Thanks guys

Not sure how long this thread will remain open though, sadly.

[zengineer]

.20 years ago but still relevant. Skip past the first minute if your attention span is under 3 minutes

https://idolfeatures.com/2013/03/luc...ight-live.html

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[Robf52]

Interesting post, OP. Thanks for posting.

[bob sims]

Originally Posted by Mr. K

I think it would pack a lot of punch in many circles, not just Chinese.