Don't worry, I'm starting a magazine only geared to traders who are looking for jets...I will put you on the mailing list.
just like 1929 and 1987--- the cycle repeats but is getting tighter and faster. these expensive things are not always conspicuous consumption----more like signs to others in the same group of belonging and being in the KNOW. A Patek Phillipe watch fits this description to a tee, as most man on the street types have no clue what it is. not gaudy or conspicuous in the least. unlike a diamond encrusted rolex-- sophisticated wealthy people simply do not buy things conspicuous like that-- but they will by a Patek for its stealth wealth status. hope this makes sense. surf
If I'm going to have an overpriced watch, I'd rather it actually be a Rolex, because those things are sturdy as hell, so at least you're getting something a little extra for the crazy price. It is also one of the best watches ever made. And I would get it in nondescript steel. Oh, I already have one! Bought it in 1983, and it has been to hell and back since that time. I doubt most other watches would have endured the treatment it has gotten. It will likely be my last watch unless I visit New York and sign up for the requisite tourist mugging. (Nothing happened the last few times I was there. Perhaps I wasn't there long enough.)
There is something wrong with a person who is unhappy with less than a $10,000+ watch. It keeps no better time than a $400 watch. Someone doing your laundry - fine. But it is sad for people who cannot even make jello without help. Having nice things that improve your life is good. Trying to impress other people is called "grow up a little." How much better it is to have ample savings and a lower cost lifestyle so your financial life does not fall apart when you lose your 13 hour a day job at an IB. Cashflow trumps debt and extravagance always, in my book. I wonder how people with a $6500 monthly mortgage do on the $405 weekly unemployment check in NY... Thus seems the magazine.
rolex, or texas timex as those in the KNOW refer to them, is a great watch. but far too common for what i am talking about... surf
I know that. I splurged back then because I wanted to have one of the best and sturdiest. It's kind of a backhanded approach to value. (That's my story, and I'm sticking to it.) I know it was overpriced, although it has since increased in 'retail value" by a few hundred percent. What I, personally, regard as superfluous spending is paying more for something that has no incremental value other than "show," without actually being better than a lower priced item in one way or another. I admit to treading a fine line, but I still think that the distinction can be made.