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We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
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CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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Was never a watch guy, but I have to admit some of the time pieces are remarkable work of engineering and artistry!
Luxury watches and crypto prices.
Supply and demand.
Interesting dynamics.
When crypto was booming and coin prices were sky-high, people were making money.
More millionaires were minted and with new wealth, they sought to buy the finer things in life.
Not surprisingly, luxury watches were prime targets.
Over the last few years, when cryptocurrencies were booming during the bull run, prices of luxury watches like Rolexes and Patek Philippes were also climbing to ridiculous levels.
Iconic designs like the Rolex “Hulk” nearly doubled in price at its all-time high around last year.
“According to the Federation of the Swiss Watch Industry, the market has more than doubled in size over the last two decades, up from CHF10.297 billion in 2000 to a staggering CHF22.302 billion in 2021.”
Could be due to the influx of rich Chinese buyers, general year-on-year increase in popularity of the watches and also people wanted to divest some of that crypto profits they made.
Can you guess why the Hulk, a pretty sought after Rolex, is named as such?
But with the boom, comes the bust.
Market cycles are called cycles for a reason: what goes up must come down.
Seems like a price correction is settling in.
“Indeed, there are more than 87,000 Rolex watches available right now at watch-selling platform Chrono24, which told Bloomberg that supply of watches like Rolex is currently “much larger” than in years past.”
Chrono24 is one of the largest dedicated second-hand watch retailers and marketplaces in the world, currently holding more than half a million timepieces on its website.
More supply means prices will inevitably fall.
At current rates, most Rolexes are going for 25% less than their peak.
The markets are correcting themselves after all.
Maybe people need to sell their watches to get cash to backstop their losses or pay back loans they made?
Maybe crypto wiped out their investments and savings, and they need the cash for living expenses?
What does this tell me?
Ultra luxury brands like LV made a killing during the pandemic and still held well despite the economic downturn.
Start a business in the luxury line during the bull market, targeting the ones who made their money from the boom, and stockpile cash.
And when its the bear market and prices have slump, use the cash to buy up all the supply for cheap.
Wait for the next bull run and sell for massive profits.
Rinse and repeat.
Welcome to the 3 comma club!
I wish it was that simple.
Anyways, for those who have been priced out of action for a new Rolex or Omega, now might be the time to start swooping in for some good buys.
Desperate times calls for desperate measures, and sellers might let their watches go for some quick cash.
Anyways, are luxury watches like Rolex and Pateks a good asset to invest in long term?
-
Is Rolex a good long term investment?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #eth #btc #crypto #rolex #hulk #patekphilippe #omega #luxurywatches #timepiece #investments #watches #money #luxury
Was never a watch guy, but I have to admit some of the time pieces are remarkable work of engineering and artistry!
Luxury watches and crypto prices.
Supply and demand.
Interesting dynamics.
When crypto was booming and coin prices were sky-high, people were making money.
More millionaires were minted and with new wealth, they sought to buy the finer things in life.
Not surprisingly, luxury watches were prime targets.
Over the last few years, when cryptocurrencies were booming during the bull run, prices of luxury watches like Rolexes and Patek Philippes were also climbing to ridiculous levels.
Iconic designs like the Rolex “Hulk” nearly doubled in price at its all-time high around last year.
“According to the Federation of the Swiss Watch Industry, the market has more than doubled in size over the last two decades, up from CHF10.297 billion in 2000 to a staggering CHF22.302 billion in 2021.”
Could be due to the influx of rich Chinese buyers, general year-on-year increase in popularity of the watches and also people wanted to divest some of that crypto profits they made.
Can you guess why the Hulk, a pretty sought after Rolex, is named as such?
But with the boom, comes the bust.
Market cycles are called cycles for a reason: what goes up must come down.
Seems like a price correction is settling in.
“Indeed, there are more than 87,000 Rolex watches available right now at watch-selling platform Chrono24, which told Bloomberg that supply of watches like Rolex is currently “much larger” than in years past.”
Chrono24 is one of the largest dedicated second-hand watch retailers and marketplaces in the world, currently holding more than half a million timepieces on its website.
More supply means prices will inevitably fall.
At current rates, most Rolexes are going for 25% less than their peak.
The markets are correcting themselves after all.
Maybe people need to sell their watches to get cash to backstop their losses or pay back loans they made?
Maybe crypto wiped out their investments and savings, and they need the cash for living expenses?
What does this tell me?
Ultra luxury brands like LV made a killing during the pandemic and still held well despite the economic downturn.
Start a business in the luxury line during the bull market, targeting the ones who made their money from the boom, and stockpile cash.
And when its the bear market and prices have slump, use the cash to buy up all the supply for cheap.
Wait for the next bull run and sell for massive profits.
Rinse and repeat.
Welcome to the 3 comma club!
I wish it was that simple.
Anyways, for those who have been priced out of action for a new Rolex or Omega, now might be the time to start swooping in for some good buys.
Desperate times calls for desperate measures, and sellers might let their watches go for some quick cash.
Anyways, are luxury watches like Rolex and Pateks a good asset to invest in long term?
-
Is Rolex a good long term investment?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #eth #btc #crypto #rolex #hulk #patekphilippe #omega #luxurywatches #timepiece #investments #watches #money #luxury
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