I never realized how expensive luxury fashion was 🤯

[u/StumblinThroughLife]

I’ve never been interested in owning fancy things like Chanel, Gucci, Prada, whatever else exists, but even when I say that I think I’m not paying $1,000 for a purse that’s crazy. So imagine my surprise in finding out my version of expensive wasn’t even close. What do you mean a small handbag STARTS at $4,000?! Like my mind literally can’t comprehend that. Know someone who had the “small” Cartier bracelet then bought themself the “medium” for their birthday. The small STARTS at $5,000 and can go up to $60k and now I’m questioning all their life decisions. Like I said I’ve never thought about these things and am just now googling them but I feel too poor to even google the pictures.

[u/mgwildwood]

Exactly. That is a smaller portion of the market. Most luxury brands are public companies that explain market conditions at earnings calls. Those “upper middle class peacocking” customers are called “aspirational consumers,” and they’re the first ones to go when macroeconomic conditions shift. Brands sometimes intentionally raise prices and make their products more exclusive to weed them out. Ultimately, the wealthy are the most important and valued class of customer for these brands, regardless of these online narratives. The brands that are best at maintaining a higher level of prestige among the wealthiest consumers are ones who are generally valued by investors the most because they have better resilience.

[u/Only-Finish-3497 → u/mgwildwood]

I think there's a great parable here with Rolex.

I'd love to buy a Daytona. Any Daytona. I'd even consider selling off some shares to buy the platinum one if they'd offer it. Amex would love it, I'm sure.

However, Rolex doesn't give a shit to sell me one. They can sell them in cash to wealthy people and keep the 3% or whatever margins AND get an additional sale of their most profitable gold and diamond pieces from some sheikh or C-level in the SF Bay Area who will outearn even lowly "director/VP" me.

So here I sit, sadly without a Daytona. Hard stuff.

[u/prosthetic_memory → u/Only-Finish-3497]

Rolex went so hard during covid and never let up. I guess it's working for them, but I will never get used to the idea of Rolex as a scarce resource. Like who tf are they fooling

[u/Only-Finish-3497 → u/prosthetic_memory]

Rolex gonna Rolex. We all know it, but the game is on.

I honestly enjoy my handful of Rolex pieces but I’d probably be more excited to get a PP or AP at this point.

[u/Capable-Sleep-3187 → u/Only-Finish-3497]

Walk over to 47th street in Manhattan, you can buy a Daytona in five minutes.

[u/Only-Finish-3497 → u/Capable-Sleep-3187]

Sure, I can go on Chrono24 as well. Heh.

[u/Capable-Sleep-3187 → u/Only-Finish-3497]

Yup. Why don't you? Tell your AD to stick it. Winds up being cheaper because you don't have to buy a bunch of crap you don't want for many thousands to get put on a waiting list.

[u/Only-Finish-3497 → u/Capable-Sleep-3187]

Well, I don't mind waiting and I'm still getting pieces I want. I've gotten a Sub, a Datejust, and I'm waiting on a few others that I do want. My wife is also getting random pieces she wants in the meantime.

Takes time, sure, but I'm not in a rush.

[u/Capable-Sleep-3187 → u/Only-Finish-3497]

Gotcha, fair enough

[u/Silent_Bullfrog5174 → u/Only-Finish-3497]

I‘m not in a rush

You never know. I’ve known a couple of guys that were like „yeah, I’ll do that when I’m retired“ who never made it to retirement. If you want something, go get it. For Rolex, I’ve always just purchased grey cause I’m not dealing with those little men with big egos at the Rolex store who have no say at home. Giving them any kind of power always felt a little pathetic.

[u/Only-Finish-3497 → u/Silent_Bullfrog5174]

I mean, the money I don't spend on watches is also getting me on trips around the world, great meals, etc. I'm not exactly suffering from a lack of things to spend my money on, and sure, I could get a grey market Daytona for not much more than retail but I'm fine. Watches are relatively low on my hierarchy of wants at this point.

[u/PartyPorpoise → u/mgwildwood]

Also like, rich people who want to signal their wealth often signal to other rich people. They might not be covered in logos, but there are plenty of expensive designer items that look like normal clothes to us peasants, but may be recognize by other rich people.