One thing the pandemic has taught us is that life can be very uncertain. It is essential to invest money in the right places to stay financially secure during such events. Have you been looking for ways to invest your disposable income? Cryptocurrencies and NFTs have become the most hyped options lately thanks to the lure of much quicker and larger returns. But what if you want something much safer to invest in? Believe it or not but you’ll be much better off putting your money into Rolexes than gold, real estate, and even stocks; at least that’s what data suggests. According to a new study carried out by online retailer Bob’s Watches, Rolexes have regularly outperformed those traditional investment options over the last 10 years.
Bob’s Watches is a California-based e-commerce retailer of pre-owned Rolexes and luxury watches. They compiled data from the last decade and analyzed how Rolex values have performed in the secondary market over the period. “We were surprised by how much the values have appreciated,” said Bob’s Watches founder and CEO Paul Altieri in an interview with Barron’s. “We were hoping to come up in the top three, so we were happy that it was number one.” They then evaluated the data with percentage increases for gold and real estate, based on inflation-adjusted values for gold from macrotrends.net and median sales price data for houses sold in the U.S. from the Federal Reserve Economic Data ( FRED ) database. It turns out Rolex watches significantly outperformed both.
While the evaluative data was for all Rolex models sold on the website, the stainless-steel Submariner Ref. 16610 and the Daytona stood out from the rest. The Submariner was the most popular model and Daytona witnessed the highest price appreciation with an average pre-owned price of over $30,000. Interestingly, the prices have remarkably increased during the pandemic, indicating an exponential growth in demand for Rolexes in the secondary market. So if you want to make some money investing, buy a Rolex!
[Via – Barrons]