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Inflation Is Driving Secondhand Markets Out Of Control. Here’s Why.

What do old watches and used cars have in common? (Hint: Inflation)
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  1. We're not even talking about access to the right buyer in the second-hand market; you can't just wave around a rolex (or sneakers, in my neck of the woods), and have ten people falling over each other to give you the highest bid. You're assuming the risk of scammers, transport and logistics, and even certifying that your item is real and not a high-end knockoff (for sneakers, it is alarmingly difficult to differentiate), not to mention the effort of actually selling. After all that, assuming you made a sale, you'll probably want to sink all that profit back into buying more to resell, because the effort of selling items probably already cost you your day job, and is now your sole source of income.

    Congratulations, you have now become a reseller, but with far less capital, clientele, and security, not to mention you're now in the gray market, making you a target to taxation audits.

  2. Alright, a downturn has to come within the next 3 years now as the market is completely insane. I would say 1 year, and while I believe 1 year is about right, I know it will not happen before at least 2, and probably 3, because markets are always weird like that

  3. I don't understand any of this. Exklusivity, status and other stuff supposedly derived from these items makes no sense to me.. wether you walk around with a toy clock or a rolex, i'd judge you equally according to your character. This seems like total waste of money.

  4. Went to the car dealer needed parts told me parts department is closed for two weeks come back then? Place is a ghost town and cars all over priced no one would bother buying one! See used cars like this no one is buying those ether!

  5. 1:00 – Can I get a source on that "Quarter of the Average American's Income" line? Just, not sure how well that checks out given how many of us that are still working are lucky if we make 30,000 a year.

  6. That just seems super depressing.

    Rather than company A making expensive product that someone wants.

    Company A makes a whole load of stuff that to some extent is just trash to the person that they'll buy in the hope they'll get to buy the nice thing they want.

    That's so much wasted time, energy, resources just to play some weird game where a rich person gets a shiny thing.

  7. to be fair – some AD's will tell you "they have no watches" but trust me, if you know how dealers work they will sell you the inventory. you don't even have to be a past buyer from them. you can walk into AD's in foreign countries and if you're the right person they will sell you their rolex batmans or whatever they have

  8. With Rolex watches the trick is that governments cannot see how many Rolex you buy or sell, while usually you are tracked for everything you buy over a few thousand dollars Rolex are paid cash. Rolex are used principally for money laundering, you should inform yourself better.

  9. Back in the 60s or even early 90s this made sense. Nowadays it's a peacock syndrome. Showing off for sake of being flashy despite the fact that if you're serious about your business – you can be looked up on the internet. So having such a stupidly expensive item as an utility of status display just doesn't work.
    And looking up people is even more efficient also. Because it leads to even funnier situations.

    Here's a hypothetical. You are in a room full of investors which have large stock portfolios, each worth at least quarter of a billion. You see someone dressed in an expensive suit with a panda watch walking into the room. Okay. Interesting. You have no idea who that is. They seem to have opinions. You quickly look them up….. 😆 It's a local retail shop chain manager which most definitely gone into huge (relatively to his income) debt to baiscally be a peacock in the crowd. His opinions, within this crowd worth nothing. After word spreads – he gets laughed out of the room should he start giving opinions on investment, or otherwise being looked at like you look at a child which tries too hard to be an adult. Just adorable, but ultimately doesn't change anything.

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