SRG
1163
The interesting thing about this situation...
I'm certainly not an economist, but it seems that if everyone hoards their money, the financial situation will only get worse. Banks won't have that money to lend, people won't buy things, and the businesses will have to slow down, which just increases in a circular pattern. I'm not saying everyone should go out and spend what they don't have, but...
And I don 't think the media is helping much. Every time you turn on a TV or radio, they are talking about the crash, and that people shouldn't spend. Again that just seems to make the situation worse.
I know this is much different than 2002. Then the US stock market went down 50% or so, and it came back. I think this is going to take much longer because of the bank and real estate situation.
As far as watches go, I really hope the market doesn't go too far south, for everyone's concern. But I also do think that prices went up too fast on these luxury items. For example, Patek retail prices are over 100% higher than they were not too many years ago (maybe 2001 or so). I'm not sure that was healthy either. I remember when a 3940 perpetual could be had for $25,000 or so (retail was higher, I think). Now the 5140 retails at about $74k.
Interesting times!
recession,fear,panic..a perspective of the current env and advice for e watch collector
While now is the not the time for panic selling of watches....
The Flip Side
a different perspective, maybe....
